DOMS Industries Ltd. key Products/Revenue Segments include Stationery, Export Incentives and Other Operating Revenue for the year ending 31-Mar-2023.

Varun Beverages Ltd. key Products/Revenue Segments include Beverages, Other Operating Revenue, Other Services for the year ending 31-Dec-2023.

ICICI Bank Ltd., incorporated in the year 1994, is a banking company (having a market cap of Rs 829883.24 Crore).

Bank of Baroda, incorporated in the year 1911, is a banking company (having a market cap of Rs 131533.60 Crore).

UTI Asset Management Company Ltd., incorporated in the year 2002, is a Small Cap company (having a market cap of Rs 14278.87 Crore) operating in Financial Services sector.

Bandhan Bank Ltd., incorporated in the year 2014, is a banking company (having a market cap of Rs 31721.61 Crore).

HDFC Bank Ltd., incorporated in the year 1994, is a banking company (having a market cap of Rs 1245982.19 Crore).

Symphony Ltd., incorporated in the year 1988, is a Mid Cap company (having a market cap of Rs 11785.44 Crore) operating in Consumer Durables sector.

Syrma SGS Technology Ltd., incorporated in the year 2004, is a Small Cap company (having a market cap of Rs 7524.28 Crore) operating in General sector.

Amber Enterprises India Ltd. key Products/Revenue Segments include Air Conditioners, Scrap, Job Work, Other Operating Revenue for the year ending 31-Mar-2024.

Orient Electric Ltd., incorporated in the year 2016, is a Mid Cap company (having a market cap of Rs 5706.47 Crore) operating in Consumer Durables sector.

Dodla Dairy Ltd., incorporated in the year 1995, is a Small Cap company (having a market cap of Rs 7326.23 Crore) operating in FMCG sector.

​We continue to like KSCL on a long-term (3-4 years) but in the near-term we believe the growth factors are priced-in, as post our Initiating coverage (At ₹654) the share price has run up over ~65%. Although, we are still positive on the company over a longer term period but nearterm concerns in cotton portfolio and decreasing market share in its key northern markets continuous to impact its overall volumes.

Despite the recent price cut in 2Q, ASP is expected to improve in 2HFY25. At CMP, NMDC trades at 4.7x FY26E EV/EBITDA. We marginally lower our FY26 APAT estimates by 5% and retain our BUY rating on NMDC with a revised TP of INR280 (6.5x FY26 EV/EBITDA)

Amid persisting challenges on business growth and an intense focus on accelerating liability mobilization, HDFCB has been delivering a resilient performance in margins & asset quality. During the past two quarters, the bank has reported 7bp expansion in margin to 3.47% led by conscious improvement in the asset mix and the retirement of high-cost borrowings.

In addition, rising share of low yielding UPI transactions (45% share in 1QFY25) will limit the scope for margin expansion. While we have re-aligned our topline estimates amid strong performance in catering division, our EPS estimates remain broadly intact given the segment commands lower margin.

​​At CMP VOLT trades at PE of 56x/43x on FY25/FY26, we value VOLT at SOTP – UCP 55x (earlier 50x) to INR 1,412, EMP 20x (earlier 15x) to INR 115, EPS 25x (earlier 20x) to INR 156 and Voltbek at INR 105 on FY26 and arrive at TP of 1,790 up 17% from CMP and hence maintain BUY​

With the lower penetration of mutual funds in India, Nippon Life India Asset Management can continue to drive strong AUM growth. The company is one of the fastest-growing AMCs in B-30 cities.

We cut our EPS estimates by 11.2%/6.9% for FY25E/FY26E and downgrade the stock to a “HOLD” given near term growth challenges in publishing division and rising competitive intensity in domestic stationary market.

We expect SKF to report revenue/earning CAGR of 14%/19% over FY24-26 mainly driven by (1) Strong industry tailwinds both in auto and industrial, (2) significant focus on increasing localisation, (3) new product development, (4) revival in exports and (5) de-leveraging unprofitable segments/customers.