Equity Research Reports

Jindal Steel & Power Ltd

Jindal Steel and Power (JSPL) is part of the OP Jindal Group and is headed by the youngest son Naveen Jindal. In India, the company has 8.6mtpa steel capacity, backed by a 9mtpa pellet plant and 3.11mt iron-ore mine, in close proximity to each other...More

06-Sep-21

Tata Chemicals Ltd

Incorporated in 1939, Tata Chemicals Ltd. (TCL) operates principally in industrial, agricultural and consumer chemicals. The company is among the world's top manufacturers of soda ash with annual production capacity in excess of 4mn tons spread across four continents. ...More

13-Aug-21

Anupam Rasayan India (ARIL) is one of the leading companies engaged in the custom synthesis and manufacturing of specialty chemicals in India. The company’s key focus area is custom synthesis & manufacturing (CSM) operations by developing in-house processes for manufacturing products requiring complex chemistries and...More

13-Aug-21

Gujarat State Petronet Ltd

Gujarat State Petronet Ltd. was set up in 1998 by Gujarat State Petroleum Corporation (GSPC), a state-owned entity, to establish and operate a state-wide gas network in Gujarat. ...More

26-Jul-21

Tata Motors Ltd

Tata Motors Limited is a leading global automobile manufacturer. The company offers a wide and diverse portfolio of cars, sports utility vehicles, trucks, buses, construction equipment and defense vehicles globally...More

06-Jul-21

PNC Infratech Ltd

PNC Infratech is engaged in the business of India’s infrastructure development through the construction of highways including BOT (Built, Operate and Transfer projects), HAM (Hybrid Annuity Model), Airport Runways, Bridges, Flyovers and Power Transmission projects, among others....More

05-Jul-21

KNR Constructions Ltd

KNR constructions Limited (KNR) is a multidomain infrastructure project development company providing (EPC) engineering, procurement and construction services across various fast-growing sectors namely roads & highways, irrigation and urban water infrastructure management. ...More

05-Jul-21

Jindal Stainless (Hisar) Ltd

Jindal Stainless (Hisar) Ltd. (JSHL) is the largest specialty stainless steel producer in India with a diversified value-added product portfolio and operates a stainless steel plant with a melting capacity of 8,00,000 TPA at Hisar, Haryana. JSHL’s subsidiary, JSL Lifestyle Ltd. creates exclusive stainless steel...More

22-Jun-21

Apollo Hospitals Enterprise Ltd

Apollo Hospitals recently concluded QIP of Rs11.7 bn of which Rs4.1 bn will be utilized for acquiring balance 50% stake in Apollo Gleneagles Hospital Kolkata, Rs1.4 bn will be invested in strengthening digital initiatives through Apollo 24/7, Rs1.5 bn towards diagnostics business and balance for...More

10-Jun-21

Max Healthcare

Max Healthcare is focused on large metros namely Mumbai and Delhi. Large metros have always been attractive for healthcare services given the high density of population and a huge demand-supply gap....More

10-Jun-21

Gujarat Gas Company Ltd

Gujarat Gas Limited (GGL) was formed in FY15 by amalgamating Gujarat Gas Company Ltd. and GSPC Gas Ltd. It has emerged as India's largest city gas distribution player with a total sales volume of 9.4mmscmd in FY20 and presence spread across 23 districts in the...More

02-Jun-21

H.G. Infra Engineering Ltd

HG Infra is a leading Indian highway contractor based out of Jaipur, Rajasthan. The company is executing 33 projects across seven states in India. Almost 78% of the order book is from the government and 22% from the private sector (IRB and Adani projects). EPC...More

17-May-21

SBI Life Insurance Company Ltd

SBI Life Insurance Company Ltd. (SBI Life) started off as a joint venture between State Bank of India (SBI) and BNP Paribas Cardif S.A. SBI Life is India’s largest private life insurer on a retail APE basis. The company has a product mix of participating,...More

04-May-21

Persistent Systems Ltd

Persistent Systems (PSYS) is a technology services company helping clients build and manage software-driven businesses. Its business strategy is aligned around four key areas – A) Digital: Bringing together their technology partner ecosystem to enable enterprises with digital transformation B) Alliance: Focus on the long-standing...More

03-May-21

Cyient Ltd

Cyient provides engineering, manufacturing, geospatial, network and operations management services to a diversified base of ~300 clients across eleven industries, which include aerospace & defence (A&D), communications, rail transportation, heavy equipment & industrial, navigation and semiconductors....More

07-Apr-21

Eicher Motors Ltd

Eicher Motors is the flagship company of the Eicher Group in India and a leading player in the Indian automobile industry. Eicher manufactures the well-known Royal Enfield (RE) motorcycles in India. The company entered into a 50:50 JV with the Volvo Group to form VE...More

10-Mar-21

HCL Technologies Ltd

HCL Tech is one of the biggest IT companies in India. It has been the most proactive to experiment with pricing strategies, having entered into revenue-sharing agreements with clients. Further, the company has developed expertise in infrastructure services. Its ERP offerings and consulting abilities have...More

10-Mar-21

Cummins India Ltd

Cummins India (KKC) is a 51%-owned subsidiary of Cummins Inc, USA and is the leading manufacturer of diesel engines used in generators in India. Cummins has eight manufacturing facilities in Maharashtra and Gujarat. The company produces ~40,000 engines annually for the industrial sector and...More

01-Mar-21

State Bank of India

SBI is the country's largest commercial bank, in terms of assets, deposits, branches and employees. On the credit front, the bank has loans of Rs23.7tn, as of FY20, implying a market share of ~23%. It has a stronghold in most segments, including SME, corporate, government,...More

05-Feb-21