LEADERSHIP CHANGES

TILAKNAGAR INDUSTRIES: Appoints Nishant Jain as President–Sales to lead whisky market expansion and strengthen distribution.

NCR Leads India’s Realty Boom with 24% Price Surge; National Average Up 9%

Positive Outlook for Anant Raj, TARC, and DLF

India’s housing market continues its strong upward trajectory, with residential property prices rising across all major metros in the third quarter (Q3) of 2025.

According to data analysed by property consultancy Anarock, the…[Read more]

Vedanta Q2 (YoY)

Aluminium production rises 1% to 6.17 lakh tonnes Vs 6.09 lakh tonnes
Zinc saleable metal drops 6% to 2.46 lakh tonnes Vs 2.62 lakh tonnes
Zinc international production zooms 38% to 60,000 tonnes Vs 44,000 tonnes
Silver production falls 22% to 1.44 lakh tonnes Vs 1.84 lakh tonnes

Hindustan Zinc Q2 (YoY)

Mined metal production…[Read more]

Sobha Q2 (YoY)

Total sales value zooms 61.44% to Rs 1,902.6 crore Vs Rs 1,178.5 crore
Average price realisation grows 7.7% to Rs 13,648 per square feet Vs Rs 12,674 per square feet

Sales value–Sobha share jumps 56.4% to Rs 1,537 crore Vs Rs 982.8 crore

New sales area soars 50% to 13.94 lakh square feet Vs 9.29 lakh square feet

Quarterly Business Update

HDFC Bank Q2 (YoY)

Gross advances soar 9.9% to Rs 27.69 lakh crore Vs Rs 25.19 lakh crore
Average deposits grow 15.1% to Rs 27.1 lakh crore Vs Rs 23.54 lakh crore

Average CASA deposits increase 8.5% to Rs 8.7 lakh crore Vs 8.08 lakh crore
Average AUM jumps 9% to Rs 27.94 lakh crore Vs Rs 25.63 lakh crore

IndusInd Bank…[Read more]

MERGER OF 12 PSU BANKS INTO 3 MEGA BANKS (2025)

GROUP 1: SBI-LED MEGA BANK (NATIONWIDE DOMINANCE)

– STATE BANK OF INDIA (SBI)
– PUNJAB NATIONAL BANK (PNB)
– BANK OF BARODA (BOB)
– BANK OF INDIA (BOI)

*WHY*: COMBINES SBI’S SCALE (22,000 BRANCHES, ₹7 LAKH CR MARKET CAP) WITH STRONG NORTHERN/CENTRAL BANKS FOR 35,000 BRANCHES, ₹10 LAKH CR+ MARKE…[Read more]

V-Mart Retail 2QFY26 Performance Update

▶Revenue grew 22.1% YoY/ -8.8% QoQ to Rs 8.07 bn. This growth has come on a base of 20.3% growth in 2QFY25.

▶The growth was supported by the early festive season. Pujo in 2Q FY26 vs in 3Q during FY25.

▶SSSG stood at +11% for 2QFY26 (V-Mart at +11% and Unlimited at +11%). Compared to 15% SSSG in base…[Read more]

LISTING UPDATE

PACE
IPO PRICE: 219
LOT SIZE – RETAIL: 68
LOT SIZE – sHNI: 952
LOT SIZE – bHNI: 1555

LISTING PRICE: 225(+6₹,+2.74%)
LISTING GAIN – RETAIL: 408/-
LISTING GAIN – sHNI: 5712/-
LISTING GAIN – bHNI: 9330/-

MANAS POLYMER – SME
IPO PRICE: 81
LOT SIZE – INDIVIDUAL: 3200
LOT SIZE – HNI: 4800

LISTING PRICE: 1…[Read more]

Marico 2Q26 PreQ update – Another qtr of very strong topline delivery across segments; margins decline sharply, likely bottoming

* Consol revenue: c.30% growth YoY (2Q25: +8% YoY) led by pricing

* Domestic volume growth in high-single digits, while moderating QoQ (1Q26: +9% YoY, 2Q25: +5% YoY)

* Demand trends stable for most of 2Q. India…[Read more]

Avenue Supermarts 2QFY26 Performance Update

▶Revenue grew 15.4% YoY/ 1.8% QoQ to Rs 162.18 bn during the quarter. This growth has come on a base of 14.2% YoY growth in 2QFY25. Growth during 1QFY26 stood at 16.2%.

▶In our view growth is impacted by intense competition from quick commerce, deflation in some product categories and dilution/…[Read more]

BSE launches Hospitals Index!

The new BSE Hospitals Index will track hospital stocks within India’s fast-growing healthcare sector. With 15 constituents and a base value of 1,000 (June 2017), it fills a key gap in sectoral benchmarking.

Top 10 constituents by weightage:
 Fortis Healthcare – 20.91%
 Max Healthcare – 19.77%
 Apollo Hospitals –…[Read more]

Bank of Baroda 2QFY26 business figures

Business update

Total Business (Global) have grown 5.2% QoQ and 10.5% YoY to Rs. 27,791 bn

Loan book aspects

Gross Advances (Global) have grown 6.0% QoQ and 11.9% YoY to Rs. 12,791 bn

Gross Advances (Domestic) have grown 5.6% QoQ and 11.5% YoY to Rs. 10,467 bn

Retail Advances (Domestic) have grown 4.5%…[Read more]

AU Small Finance Bank (Not Rated CMP Rs 742/share) 2QFY26 –

Operational update numbers

• Total deposits stood at Rs 1,325.1 bn up 20.8% YoY and 3.8% QoQ
• CASA deposits at Rs 389.6 bn up 9.7% YoY and 4.6% QoQ
• CASA ratio remained largely steady at 29.4%, broadly in line with 1Q (29.2%).
• Gross Advances stood at Rs 1,175.2 bn up 22.4% YoY…[Read more]

Angel One Limited: Q2 FY26 & September 2025 Business Update

Q2 FY26
– Client Base increased to 34.08 Mn (4.9% QoQ, 24.0% YoY)
– Gross Client Acquisition came in at 1.74 Mn (12.2% QoQ, -41.9% YoY)
– Average Client Funding Book increased to Rs 53.05 Bn (26.1% QoQ, 36.4% YoY)

– Number of orders came in at 360.43 Mn (5.0% QoQ, -26.3% YoY)
– Average…[Read more]

Banking Sector – Thematic Report – Nirmal Bang Institutional Equities

Core Business Valuations of Large Banks with Sizeable Subsidiaries

Robust banking businesses at reasonable valuations

Key Points

• 20-year core business valuation trend of large banks: In this report, we have looked at the factors which led to the re-rating of the 5 lar…[Read more]