Industry Report

Nomura rated IDFC First Bank 'Buy' and gave a target price of ₹105

Elara Capital analyst Amit Purohit said some players in the sector could still deliver double-digit volume growth despite broader demand headwinds.

Elara Capital has given a Buy rating to its top ports and logistics picks, including Adani Ports & SEZ, JSW Infrastructure and Delhivery

Abbreviated new drug application filings have declined to 600 in the financial year 2025 (ending in September) versus 740 in the preceding year, Nomura said

Motilal Oswal expects its coverage universe to report a 4 per cent Y-o-Y decline in sales in Q3FY26, while Ebitda and PAT are projected to grow 16 per cent and 25 per cent Y-o-Y

Among its top stock picks, JM Financial continues to back large lenders, including State Bank of India (SBI), ICICI Bank, Bank of Baroda (BoB), and Axis Bank

B&K Securities has initiated coverage on Gravita India, Pondy Oxides & Chemicals, Jain Resource Recycling and Ganesha Ecosphere; here's why

Lean inventory levels at the end of calendar year 2025 indicate better demand-supply alignment and set the stage for continuous momentum into the coming quarters, according to Motilal Oswal

The momentum was not limited to retail-focused segments, the brokerage noted. The medium and heavy commercial vehicle (MHCV) industry showed clear signs of revival after a prolonged 15-month downturn.

In the latest note on the consumer goods sector, Emkay analysts Nitin Gupta and Mohit Dodeja estimated revenue growth of around 6% Y-o-Y & Ebitda growth of about 7% for listed FMCG players in Q3.

Cement companies are expected to report robust topline and volume growth amid weak pricing power during the third-quarter of the financial year 2026

JM Financial has maintained its 'Buy' rating on Bharti Airtel, Bharti Hexacom and Tata Communications

The brokerage highlights a robust export outlook for companies in renewables and T&D, with select EPC and product companies benefiting from international demand.

The US-Venezuela conflict will have a negligible impact on India's trade with the South American country, think tank GTRI said on Sunday. On January 4, American forces carried out a large military operation in Venezuela, capturing President Nicolas Maduro and his wife and taking them to the US to face various charges, including narco-terrorism and drug trafficking. "India faces negligible impact, as trade with Venezuela has collapsed under sanctions, with crude imports down 81.3 per cent in FY2025 and overall bilateral trade remaining marginal," the Global Trade Research Initiative (GTRI) Founder Ajay Srivastava said. For India, he said, the Venezuelan disturbance is unlikely to have any material economic or energy impact. Although India was a major buyer of Venezuelan crude in the 2000s and 2010s, bilateral engagement has weakened sharply since 2019 due to US sanctions, which forced India to cut oil imports and scale back commercial activity to avoid secondary sanctions, he added.

TVS Motor, Maruti Suzuki India, Mahindra & Mahindra, and Ashok Leyland are some of the top picks of brokerages

Elara Capital expects its capital goods universe to clock 12 per cent sales growth in Q3, while consumer electricals and durables are seen growing 22 per cent Y-o-Y

Industry demand likely grew in low double digits year-on-year (Y-o-Y) in December 2025, reflecting broad-based improvements across regions

After a modest recovery in Q2 on low expectations, Motilal Oswal expects December quarter (Q3) to revert to typical seasonal softness, with furloughs weighing on growth across large IT services firms.

Elara Capital continues to prefer fertiliser companies over their agrochemical counterparts due to several growth opportunities offered by the sector without any meaningful risk

Nomura highlights that developers are on track for a third consecutive quarter of steady sales momentum, driven largely by sustained interest in branded residential offerings.