*Havells India Ltd.* | *CMP* Rs. 1665 | *M Cap* Rs. 104370 Cr | *52 W H/L* 2106/1360
(Nirmal Bang Retail Research)
*Result Ahead of Expectation*
*Higher revenue growth is driven by Lloyd which grew by 40% YoY and Wire an Cable grew by 21% YOY*
Revenue from Operations came at Rs. 6543.6 Cr (33.8% QoQ, 20.2% YoY) vs expectation of Rs. 6271.9 Cr, QoQ Rs. 4889 Cr, YoY Rs. 5442 Cr
EBIDTA came at Rs. 757.1 Cr (77.5% QoQ, 19.3% YoY) vs expectation of Rs. 679.5 Cr, QoQ Rs. 426.5 Cr, YoY Rs. 634.6 Cr
EBITDA Margin came at 11.6% vs expectation of 10.8%, QoQ 8.7%, YoY 11.7%
Adj. PAT came at Rs. 517.8 Cr vs expectation of Rs. 481.4 Cr, QoQ Rs. 278.3 Cr, YoY Rs. 446.7 Cr
Quarter EPS is Rs. 8.3
Stock is trading at P/E of 57.3x FY26E EPS

1-2 DAYS Technical Call BALRAMCHIN Target Achieved 595, BUY Call Initiated @ 564.20(ANALYST SWATI).   Visit our website for disclosure (Nirmal Bang).

BUY GOLD M 96000 CE AT 605-595 SL BELOW 350 TARGET 950

1-2 Days Technical Call Book Partial Profits in NIITLTD at 137.7-139, Target 141, Call initiated at 132.7(ANALYST AMIT). Visit our website for disclosure. (Nirmal Bang). 

1-2 Days Technical Call Target Achieved in NIITLTD at 141, Buy Call initiated at 132.7(ANALYST AMIT). Visit our website for disclosure. (Nirmal Bang). 

1-2 Days Technical Call LICI SL Triggered @ 810. Visit our website for disclosure (Nirmal Bang). 

1-2 DAYS Technical call Buy GODREJCP above 1256.40 with SL 1220 Target 1330(ANALYST SWATI).   Visit our website for disclosure (Nirmal Bang). 

1-2 DAYS Call KALYANJIL 520CE SL TRIGGERED @9 Visit our website for disclosure. (Nirmal Bang).

1-2 DAYS Derivatives Call Buy ASTRAL 29MAY 1400CE above 67.5 with SL 54 Target 100(ANALYST AMIT). Visit our website for disclosure. (Nirmal Bang). 

1-2 DAYS Technical call Buy 3IINFOLTD above 24.4 with SL 22.5 Target 29(ANALYST AMIT). Visit our website for disclosure. (Nirmal Bang). 

1-2 Days Technical Call Buy SWSOLAR above 321 with SL 312 Target 340 (ANALYST NIRAV) Visit our website for disclosure (Nirmal Bang)

*Thyrocare Technologies Ltd.* | *CMP* Rs. 769 | *M Cap* Rs. 4075 Cr | *52 W H/L* 1055/571
(Nirmal Bang Retail Research)
*Result improved*
Revenue from Operations came at Rs. 187.2 Cr (12.8% QoQ, 21.3% YoY) vs QoQ Rs. 165.9 Cr, YoY Rs. 154.3 Cr
EBIDTA came at Rs. 57.7 Cr (38.3% QoQ, 70.7% YoY) vs QoQ Rs. 41.7 Cr, YoY Rs. 33.8 Cr
EBITDA Margin came at 30.8% vs QoQ 25.2%, YoY 21.9%
Adj. PAT came at Rs. 21.7 Cr vs QoQ Rs. 19.1 Cr, YoY Rs. 17.8 Cr
Quarter EPS is Rs. 4.1
Stock is trading at P/E of 44.5x TTM EPS

Option BUY CRUDE CE5400 bt 220-210 SL BELOW 170 TGT 290-320

*LTIMindtree Ltd.* | *CMP* Rs. 4539 | *M Cap* Rs. 127966 Cr | *52 W H/L* 6764/3841.05
(Nirmal Bang Retail Research)

Revenues in CC QoQ came at -0.6% vs expectation of 0.3%, QoQ 2.3%, YoY -1.3%

Order Inflow came in at $1.6 bn, QoQ $1.68 bn, YoY 1.43 bn

*Result is marginally below expectation*
Dollar revenue came at $ 1069.4 Mn,(-6.1% QoQ, 0% YoY) vs expectation of $ 1138.8 Mn, QoQ $ 1138.7 Mn, YoY $ 1069.4 Mn
Net sales came at Rs. 9771.7 Cr (1.1% QoQ, 9.9% YoY) vs expectation of Rs. 9833.8 Cr, QoQ Rs. 9660.9 Cr, YoY Rs. 8892.9 Cr
EBIT came at Rs. 1345.4 Cr (1.2% QoQ, 2.8% YoY) vs expectation of Rs. 1381.4 Cr, QoQ Rs. 1328.9 Cr, YoY Rs. 1308.7 Cr
EBIT Margin came at 13.8% vs expectation of 14%, QoQ 13.8%, YoY 14.7%
Adj. PAT came at Rs. 1128.5 Cr vs expectation of Rs. 1163.4 Cr, QoQ Rs. 1085.4 Cr, YoY Rs. 1099.9 Cr
Quarter EPS is Rs. 38.1
Stock is trading at P/E of 20.8x FY27E EPS

BUY ZINC MAY 252.45-251.85 SL BELOW 250 TG 256