Nirmal Bang Institutional Research
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Hyundai Motor India Shares: Nirmal Bang Maintains 'Hold' After Q4, Sees Limited Upside Despite Growth Visibility
While Hyundai Motor India has historically relied on a limited SUV portfolio, product cadence is improving with multiple new launches planned over the next two years, which should support domestic growth and aid exports, adds the brokerage.
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Kotak Mahindra Bank Shares In Focus As Nirmal Bang Maintains Bullish Call After Q4 Results — Check Target Price
Nirmal Bang remain positive on Kotak Mahindra Bank, due to its higher than industry loan growth and healthy RoAs of +1.9% over FY26-FY28.
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HDFC Bank, Axis Bank, Federal Bank, LIC Housing Finance, Can Fin Homes And More: Nirmal Bang Slashes Target Prices Ahead Of Q4 Results
Nirmal Bang expects its coverage banks to report NII/PPoP/PAT growth of 9.9%/12.1%/8% YoY respectively due to lower margins on a YoY basis.
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IT Q4 Results Preview: TCS, Infosys, Wipro And More In Focus As Nirmal Bang Re-Initiates Coverage — Check Target Prices
The brokerage has reinitiated coverage on Infosys with a Buy' call, and target price of Rs 1,746 valuing it at 21x FY28E EPS based on its long term risk and fundamental analysis.
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Defence Stocks To Buy Ahead Of Q4 Results: BEL, HAL Among Nirmal Bang's Nine Picks — Full List Inside
While geopolitics remains a long-term positive for defence spending, Nirmal Bang noted that the near-term impact is mixed, with execution risks and cost pressures weighing on earnings visibility.
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Cement Stocks To Buy, Hold, Sell Ahead Of Q4 Results: ACC, Ambuja Cements And More— Check Nirmal Bang's List
Q4 reflects a demand-driven upcycle constrained by supply-chain inefficiencies and cost inflation with the industry navigating a delicate balance between growth and profitability, says Nirmal Bang.
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Feb Inflation Preview: Retail CPI Pegged At 3.1%, WPI At 2.4%, Says Nirmal Bang — Read Report
Food and beverage inflation is seen bottoming out at 2.88% in Feb-26 vs 2.12% in Jan-26.
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Bajaj Electricals Q3 Review: Nirmal Bang Maintains 'Hold' Amid Pricing Pressures — Check Slashed Target Price
Persistent price erosion in the consumer lighting segment remains a significant drag on Bajaj Electricals' growth and margins, adds Nirmal Bang.
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SBI Shares In Focus After Q3 Results: Nirmal Bang Maintains 'Buy' — Check Revised Target Price
Nirmal Bang remains positive on SBI, maintaining its Buy rating as it expects steady loan growth, strong profitability and resilient asset quality to drive longterm performance.
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Mazagon Dock Q3 Review: Nirmal Bang Retains Rating But Cuts Target Price — Details Inside
Nirmal Bang revises its valuation multiple downward to reflect lower growth expectations, resulting in a 15% reduction in Mazagon Dock's target price.
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JK Lakshmi Cement's Target Price Trimmed By Nirmal Bang After Mixed Q2 Numbers — Details Inside
Volume growth was supported by the commissioning of the Surat grinding unit, which strengthened JK Lakshmi's presence in Gujarat and the Mumbai region.
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Ashoka Buildcon Q3 Result Review: Nirmal Bang Trims Target Price Amid Sectoral Headwinds — Check Potential Upside
While near-term revenue growth has softened, Ashoka Buildcon's margin stability and debt reduction initiatives provide comfort from a medium-term standpoint.
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Bajaj Auto Shares Gets Nirmal Bang's Buy Upgrade On Strong Q3 Beat — Check Hiked Target Price
EV recovery has helped the automaker regain leadership in both the electric twowheeler and electric threewheeler segments during Q3.
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Budget 2026 Preview: Manufacturing, Exports, Data Centres In Focus Amid Job Creation Push, No Major Tax Changes Expected, Says Nirmal Bang
The brokerage does not expect any major changes on the tax front given the income tax cut announced in Feb-25 followed by GST cuts in Sep-25.
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Zensar's Growth Hurdles Keep Double-Digit Potential in Check As Nirmal Bang Maintains Hold Post Q3 — Details Inside
Zensar reported weak revenue and order book, though margins remained strong.
