Nirmal Bang Institutional Research
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Zota Health Care Shares May Rally 41% says Nirmal Bang — Check New Target Price
Nirmal Bang remains constructive on Zota, supported by improving storelevel economics, increasing store maturity, and a faster-than-anticipated path to profitability.
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Blue Star: Nirmal Bang Maintains Buy on Strong Fundamentals, Long-Term Growth Drivers— Check Target Price
Nirmal Bang continues to believe that Blue Star is well placed to ride the room AC industry tailwinds with its B2B businesses also showing strong growth momentum.
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Max Financial Services Sees Target Price Cut Despite Nirmal Bang's Bullish Call — Check Potential Upside
Nirmal Bang's revised target price implies an upside potential of around 25% from current levels, despite a slight downward revision due to a marginal change in ownership in its insurance subsidiary.
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TCS, Infosys, Wipro and More Cut to Sell'; IT Sector Underweight — Check Nirmal Bang's Latest Target Prices
Nirmal Bang has turned cautious on the Indian IT sector, maintaining an underweight' stance for FY27 amid rising structural challenges driven by Gen AI-led pressures.
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India Q4 GDP Preview: Growth Seen at 7.4%, GVA at 7.6%; Services, Agriculture to Lead — Nirmal Bang
Agriculture and allied sector growth is expected to be healthy at 4.5% YoY in Q4 FY26 supported by a robust Rabi crop.
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Suprajit Engineering Q4 Review: Attractive Risk-Reward at Current Valuations, Says Nirmal Bang — Check New Target Price
Strong order wins and the visible turnaround in StahlSchmidt Cable Systems, which turned Ebitda positive in Q4 FY26, along with diversification into EMA, electronics, and sensor segments under the beyond cables' strategy, position Suprajit well for medium-term growth.
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Torrent Pharma Shares In Focus After Q4 Results; Nirmal Bang Sees Limited Upside At Current Valuations — Check Revised Target Price
While the JB Pharma acquisition strengthens Torrent's India franchise and medium-term growth visibility, current valuations largely factor in the near-term earnings and synergy benefits, says Nirmal Bang
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BEL Shares In Focus After Q4 Results; Nirmal Bang Stays Bullish Despite Rich Valuations — Check Target Price
Nirmal Bang remain positive on BEL, given its position as the key integrator across India's defence electronics ecosystem and its strong participation in multiple strategic defence platforms.
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Amber Enterprises Shares in Focus After Q4; Valuations Look Fair, Says Nirmal Bang — Check Revised Target Price
Amber's FY26 performance remained mixed, with topline growth of 22% but relatively modest 12% bottom-line expansion, impacted by elevated JV losses and higher depreciation and interest costs from an accelerated capex cycle.
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HAL Target Price Raised By Nirmal Bang After Q4 Results — Check Potential Upside, Key Triggers
The upward revision in target price is driven by strong order visibility, improving execution outlook, and HAL's increasing strategic importance within India's defence ecosystem.
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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.
