SYNGENE INTERNATIONAL Q2 FY27 (CONS.)

• Net Profit: ₹32.20 Cr ↓52.01% YoY | vs loss of ₹9 Cr QoQ

• Revenue: ₹832.70 Cr ↓8.55% YoY | ↑13.14% QoQ

• EBITDA: ₹147.40 Cr ↓26.12% YoY | ↑62.33% QoQ

• EBITDA Margin: 17.70% vs 21.91% YoY | 12.34% QoQ

PG ELECTROPLAST Q2 FY27 (CONS.)

• Net Profit: ₹13.67 Cr ↑395.15% YoY | ↓82.07% QoQ

• Revenue: ₹933.88 Cr ↑42.50% YoY | ↓54.09% QoQ

• EBITDA: ₹59.78 Cr ↑98.62% YoY | ↓59.67% QoQ

• EBITDA Margin: 6.40% vs 4.59% YoY | 7.29% QoQ

Max Financial Services Ltd – H1 FY’27 FINANCIAL HIGHLIGHTS

Axis Max Life Insurance performance for the first half of FY’27:

- VNB grew 21.1% YoY to INR 1180 Cr

- Individual Adjusted First Year Premium grew 12% YoY to INR 4368 Cr

- Gross Written Premium increased 17% YoY to INR 18066 Cr

- Assets Under Management (AUM) stood at INR 2.06 Lakh Cr as of Sep 30, 2026

- Embedded Value grew 17% YoY to INR 31437 Cr

- Consolidated PAT for H1 FY'27 stood at INR 219 Cr, up 137% YoY

SBI Life Insurance Company Ltd – H1 FY27 FINANCIAL PERFORMANCE

Performance for the quarter and half year ended September 30, 2026:

- Profit After Tax (PAT) stands at INR12.7 billion with 17% growth

- Annualized Premium Equivalent (APE) stands at INR117.5 billion with 18% growth

- Value of New Business (VoNB) stands at INR32.7 billion with 19% growth

- Indian Embedded Value (IEV) stands at INR873.5 billion with 15% growth

- Assets under Management (AuM) stands at INR5.3 trillion with 9% growth

- Gross Written Premium (GWP) grew by 13% to INR484.0 billion

CLSA ON INDUS TOWERS

• Rating: High Conviction Outperform

• Target Price: ₹565/share

• Net tenancy additions rose to 7,903 in Q2 from 4,236 in Q1, despite continued delays in Vodafone Idea's fundraising.

• Balance sheet remained net cash positive at ₹3,400 Cr.

• CLSA expects 9% core EBITDA CAGR through FY29.

HSBC ON MAX FINANCIAL

• Rating: Maintain Buy

• Target Price: ₹1,900/share

GOLDMAN SACHS ON BAJAJ AUTO

• Rating: Maintain Buy

• Target Price: ₹12,900/share

KOTAK SECURITIES ON MARUTI SUZUKI

• Rating: Maintain Add

• Target Price: ₹13,000/share

JEFFERIES ON CIPLA

• Rating: Upgrade to Hold

• Target Price: Hiked to ₹1,270/share

JEFFERIES ON CIPLA

• Rating: Upgrade to Hold

• Target Price: Hiked to ₹1,270/share

GOLDMAN SACHS ON BAJAJ AUTO

• Rating: Maintain Buy

• Target Price: ₹12,900/share

KOTAK SECURITIES ON MARUTI SUZUKI

• Rating: Maintain Add

• Target Price: ₹13,000/share

KOTAK SECURITIES ON MAZAGON DOCK

• Rating: Maintain Sell

• Target Price: Cut to ₹1,660/share

KOTAK SECURITIES ON CIPLA

• Rating: Maintain Buy

• Target Price: ₹1,675/share

NOMURA ON INDIAMART INTERMESH

• Rating: Upgrade to Neutral

• Target Price: Hiked to ₹1,840/share

NOMURA ON PAYTM

• Rating: Maintain Buy

• Target Price: Hiked to ₹2,300/share

CLSA ON L&T

• Rating: Outperform

• Target Price: ₹4,842/share

• E&C execution grew 22% YoY despite West Asia disruptions.

• West Asia business grew 26% and India business rose 16%.

• FY27 guidance retained: 10–12% growth in orders and execution, with flat margins.

Larsen and Toubro L&T in Focus

Maintains growth and order Outlook

Working capital improvements see despite middle east crisis

Order pick up seen ahead with margins improvement in Q4

BAJAJ AUTO says

Lost Some Mkt Share In 100/125cc Segment, 150cc Segment Has Seen A Turnaround Recently