Page 2 - Industry Report

Motilal Oswal sees higher Q3 profits for Oil & Gas cos; RIL, OMCs to lead

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

JM Financial sees steady growth in financials; favours select bank stocks

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 Sec bullish on recycling; initiates 'Buy' on Gravita, Ganesha Ecosphere

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

Motilal Oswal's sector of the week: Auto; check top bet and target price

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

Emkay names TVS Motor, Ather, Maruti as preferred auto plays; here's why

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.

FMCG Q3 growth dull; recovery amid tailwinds key for valuations: Analysts

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.

Q3FY26 Cement Preview: Axis Sec sees volume, revenue growth on weak pricing

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 expects steady ARPU growth for telcos in Q3; Jio, Airtel lead

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

Capital goods, defence outlook strong in Q3; BEL top pick: Motilal Oswal

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

US-Venezuela conflict unlikely to affect India trade: GTRI report

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.

Auto sales review: Analysts optimistic on sector amid strong Dec growth

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

Capital goods firms' revenues seen up 10% YoY in Q3: Elara Capital

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

JM Fin expects cement price recovery from April 2026; UltraTech top pick

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

IT cos eye CY26 rebound as AI demand outweighs Q3 weakness: Motilal Oswal

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.

Why does Elara Capital prefer fertilisers over agrochemicals? Top bets here

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

Resilient housing demand keeps top realty developers on FY26 track: Nomura

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.

Safeguard duty extension lifts outlook for steel sector in 2026: Antique

Antique said it prefers steel companies with strong market presence, higher raw material integration, low leverage and greater exposure to the domestic market

Elara sees slower re-rating for mid-tier banks, favours large pvt lenders

While the consensus outlook for FY27 remains positive for the sector, Elara believes that a stronger liability franchise will be key, with risk-reward ratio more favorable for frontline private banks

PL Capital initiates coverage on JK Cement, JK Lakshmi, JSW Cement; details

The brokerage has an 'Accumulate' rating on JK Cement for a target of ₹6,173 per share; 'Buy' rating on both JK Lakshmi and JSW Cement with a target of ₹891 and ₹143, respectively

Maruti, M&M, TVS Motor drive strong auto finish in 2025: Motilal Oswal

In passenger vehicles, the brokerage expects the segment to post 19 per cent year-on-year (Y-o-Y) growth in dispatches in December, broadly in line with retail trends.