Best of PL Research

IndusInd Bank (IIB IN) – Q3FY26 Result Update – Retail deposit growth a key monitorable – Upgrade to ‘Accumulate’

Mphasis (MPHL IN) – Q3FY26 Result Update – Order book expands, execution and ramp up hold the key – BUY

Jindal Stainless (JDSL IN) – Q3FY26 Result Update – Robust domestic volume aids Q3; Spurt in FY28 – HOLD

InterGlobe Aviation (INDIGO IN) – Q3FY26 Result Update – A quarter marred by one-offs – HOLD

Technical Newsletter: 23-Jan-2026

Gujarat State Petronet (GUJS IN) – Q3FY26 Result Update – EBITDA in line; volume declines slightly – HOLD

Gujarat State Petronet (GUJS IN) – Q3FY26 Result Update – EBITDA in line; volume declines...

KEI Industries (KEII IN) – Q3FY26 Result Update – Exports and housing wires drive margin expansion – BUY

Technical Newsletter: 22-Jan-2026

Hindustan Petroleum Corporation (HPCL IN) – Q3FY26 Result Update – Results in line; focus on operational efficiency – Upgrade to ‘Accumulate’

Dr. Reddy’s Laboratories (DRRD IN) – Q3FY26 Result Update – Timely launch of Sema across markets remain key – REDUCE

Dalmia Bharat (DALBHARA IN) – Q3FY26 Result Update – Weak Q3 on lower pricing and higher opex – Downgrade to ‘HOLD’

Supreme Industries (SI IN) – Q3FY26 Result Update – PVC bottoms out; demand to drive growth – BUY

Gujarat Gas (GUJGA IN) – Q3FY26 Result Update – In-line EBITDA/scm; Morbi vol grows post Q3 – Upgrade to ‘Accumulate’

Restaurant Brands Asia (RBA IN) – Company Update – Fresh promoter entry set to drive growth – Accumulate

Manthan – Multiplex – Patriotism fervour to run high in cinemas during 4QFY26E

Galaxy Surfactants (GALSURF IN) – Visit Update – Specialty & performance segments drive growth – NOT RATED

SRF (SRF IN) – Q3FY26 Result Update – Chemicals segment drives overall performance – HOLD

Cyient DLM (CYIENTDL IN) – Q3FY26 Result Update – Building margin-accretive pipeline via new logos – Accumulate

Vikram Solar (VIKRAMSO IN) – Q3FY26 Result Update – Aggressive capex cycle underway – BUY

Persistent Systems (PSYS IN) – Q3FY26 Result Update – Margin surprises positively, Platform strategy pays off – BUY

Technical Newsletter: 21-Jan-2026

PL Derivatives Desk – STAR CALL

PL Derivatives Desk – STAR CALL

Havells India (HAVL IN) – Q3FY26 Result Update – Growth led by W&C with capex plans in focus – Accumulate

JSW Infrastructure (JSWINFRA IN) – Q3FY26 Result Update – Set for sharp EBITDA uplift in FY28E – BUY

LTIMindtree (LTIM IN) – Q3FY26 Result Update – Top clients transition nears completion, growth uptick in sight – HOLD

Technical Newsletter: 20-Jan-2026

J.B. Chemicals & Pharmaceuticals (JBCP IN) – Q3FY26 Result Update – In line quarter aided by exports – BUY

JK Cement (JKCE IN) – Q3FY26 Result Update – Volume led performance; expansion on track – Accumulate

Can Fin Homes (CANF IN) – Q3FY26 Result Update – Disbursements pick up; sustained margin outlook – Accumulate