While Godrej Consumer (GCPL) has underperformed Nifty by c.26%/11%/ 14% over the past 1/2/3 years, we remain cautious, as we…

Logistics costs starting to moderate; upgrade to ‘Buy; with unchanged TP of Rs 2230

Given solid track record thus far, the stock is adequately factoring in strength of the business model.

Divestment, delays and lukewarm interest, still looks likely to complete in FY22F; BPCL’s divestment, initially planned for FY20, has been…

Refining outlook remains weak; FY21e EPS up 56% on inventory gain, petchem prospects; upgraded to Buy with TP going up…

Diversification into coal MDO and rail appears synergistic; significantly de-risking future sales mix; new Rs 810 TP DBL’s diversification into…

Growth visibility high for ACs; FY21-23 EPS up 9-10%; TP up to Rs 1274; ‘Buy’ retained

Presence in fast-growing digital space plus partnerships with AWS/Azure and backed by credible management. Action.

Volume outlook robust into FY22F and the COVID-19 linked impact now behind us; stock fairly valued Raise our EBITDA forecasts…

The q-q decline was owing to inventory correction for some of the products, according to the management

Firm to be key beneficiary of CV recovery; FY21/22/23 EPS up 59/48/44%; TP up to `307; upgraded to ‘Buy’

Execution on premium, scooters and exports — key deliverables for upside.

JLR Ebitda for FY22/23e up 28/11%; for domestic biz, up 21-22%; TP raised to Rs 244; ‘Reduce’ retained given dear…

Spread levels unsustainable; FY21/22/23e Ebitda raised by 46/5/7%; TP up to Rs 404 from Rs 321; Neutral retained

Improving cash flows and strong order inflows momentum place L&T favourably; we raise target price (TP) to Rs1,616.