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]

Big Move from RBI: NBFCs Get Global Wings!

The Reserve Bank of India has unlocked a game-changing reform — NBFCs can now borrow unlimited dollars from global markets.

What’s Changed?

No cap on foreign borrowings

No end-use restrictions

Fully market-determined interest rates

In short: NBFCs just got the freedom to raise funds globally — w…[Read more]

Global Stock Markets Q3 2025 — Winners & Laggards

The first nine months of 2025 have delivered some striking shifts in global equity performance — with Europe stealing the spotlight.

Top Performers
Central and Eastern Europe are leading the global rally, with multiple markets gaining over 50% YTD.

Czech Republic: +55.4%

Greece: +53.4%

Pol…[Read more]

Fund Houses’ Recommendations

Goldman Sachs (GS)

Marico: Buy, Target Price ₹830/share — Positive view on international growth and domestic recovery.

Q2 Earnings Outlook: Upgrades seen in Consumer Discretionary (ex-Autos), IT, and Commodity Cyclicals — Positive Sector Bias.

Morgan Stanley (MS)

AU Small Finance Bank: Overweight, Target Price ₹…[Read more]

Stocks to Watch — October 6, 2025

Banking & Financials

HDFC Bank: Gross advances rose 4.4% QoQ and 9.9% YoY to ₹27.69 lakh crore in Q2FY26. Average deposits stood at ₹27.1 lakh crore, up 15.1% YoY and 2% QoQ.

Kotak Mahindra Bank: Net advances grew 15.8% YoY and 4% QoQ to ₹4.62 lakh crore. Average quarterly advances were ₹4.47 lakh crore, up…[Read more]

Daily Corporate & Economy Report — 6 October 2025

Key Corporate Developments

Bondada Engineering: Received sanction from Bank of Baroda for enhanced credit facilities to support project execution. The company reported an order book of ₹5,044 crore (as of April 1, 2025) and expects new orders worth ₹6,250–7,000 crore, targeting a closing order b…[Read more]

Daily Market Update — 6 October 2025

Macro & Market Overview

RBI Policy: The central bank maintained the repo rate at 5.5%, signaling continued vigilance on inflation but confidence in India’s growth trajectory.

Rupee & Currency Flows: The rupee remained under mild pressure due to global tariff tensions, though RBI intervention in offshore mar…[Read more]

Preview: 6–11 Oct 2025

What Will Drive Markets

Q2 Earnings Kickoff

o TCS is expected to report Oct 9 — this will set the tone for IT and export names.

o Banks, NBFCs, and consumer staples will follow — guidance, margins, and credit trends will be scrutinized.

IPO Debut / Subscription Trends

o Tata Capital’s IPO is expected to dominat…[Read more]

Weekly Review: 29 Sept – 4 Oct 2025

Market Snapshot & Trend

• After several volatile sessions in late September, the equity markets staged a modest rebound. The Sensex rose ~224 points (≈ 0.28%) on Oct 3, while the Nifty gained ~58 points (≈ 0.23%) to close around 24,894.

• Over the week, indices were up ~0.97% (both Sensex & Nifty) on a holi…[Read more]

800 ‘Vande Bharat’ Trains by 2030

A mega push for Indian Railways that’s set to transform connectivity and unlock opportunities across the supply chain.

Why it matters:

Strengthens India’s transport backbone.

Triggers large-scale capex and supply orders.

Multi-sector boost: coaches, components, signalling, electrification, and digital…[Read more]

Nikkei 225 — The Breakout Story

Why the Rally?

Corporate Reforms: Stronger governance, higher shareholder returns, and record buybacks.

Ultra-Loose BOJ Policy: Negative rates and aggressive QE kept liquidity abundant.

Yen Weakness: A boon for exporters, driving earnings growth.

Valuation Reset: Japan Inc. re-rated from “cheap” to “attr…[Read more]

Brokerage Updates- 3rd Oct 2025

Consumer Durables

Nuvama on LG Electronics India – BUY

Strong brand with robust parentage.

Industry CAGR: 8–10% (₹96,900 cr in CY24 → ₹1.44–1.59 lakh cr by CY29E).

FY19–25 CAGR: Revenue +8%, EBITDA +5%, PAT +6%; FY25 YoY growth 14%/37%/44%.

ROCE/ROIC median 34%/89%, projected 45%/106% in FY25.

$600 m…[Read more]

Stocks in News – Key Corporate Updates (3rd Oct 2025)

Positive Developments

Swelect Energy: Commissioned additional 2 MW solar plant in Tamil Nadu.

GNG Electronics: Signed facility lease pact with Ajman Free Zones Authority.

Goodluck India: Obtained industrial licence to produce empty shells; trial production to begin in Q3.

Bansal Wire: Q…[Read more]