Page 2 - The Compass

RCB deal and growth outlook are positive triggers for United Spirits

Sale of RCB stake to boost cash flows and support deleveraging, while premiumisation and policy shifts underpin steady growth outlook for United Spirits

Power Grid outlook strong on capex push, but valuations look stretched

Power Grid's strong capex pipeline and improved execution support growth outlook, but elevated valuations temper upside for the regulated utility

PLNG valuations remain attractive, but near-term downtrend likely

Petronet LNG (PLNG) gets 8.5 mmtpa of LNG from Qatar (50 per cent of its volume) and PLNG has issued a press release in response to QatarEnergy's notice of force majeure

Tata Steel set to gain from India growth, lower global costs outlook

Strong domestic demand, protectionist policies in key markets and cost efficiencies position Tata Steel to benefit despite global headwinds and price volatility

Despite headwinds, air-conditioner growth to remain healthy this summer

Strong summer demand, low base and inventory push to support AC growth despite price hikes, raw material inflation and evolving energy efficiency norms

Multiple triggers in MFI space may be offset by near-term headwinds

Improving asset quality and disbursement trends support outlook, but risks from Bihar legislation, geopolitics, and climate factors may weigh on growth

Cement sector likely to witness margin squeeze once inventories run out

Rising fuel costs amid geopolitical tensions may pressure cement sector margins, with the impact expected to intensify once existing inventories are exhausted

PSU banks may underperform in near term amid Iran war and macro risks

The Iran conflict, rising crude prices and currency pressure may weigh on banking stocks, with PSU banks likely to face sharper downside risks than private peers in the near term

Higher coal prices, demand are near-term positives for Coal India

Rising global coal prices amid the Iran conflict and potential substitution of gas with coal could boost Coal India's e-auction premiums and volumes in the near term

Petrochemical units, power plants to face brunt of gas allocation

With LNG flows from Qatar disrupted by the Strait of Hormuz closure, the government prioritises household gas and transport fuel while industry braces for supply cuts and higher costs

Export demand, margins of tile sector likely to take a hit in Q4 FY26

The tile industry could see drops in production and drastic margin compression, as energy costs, which are usually 20-25 per cent of net sales, could spike enormously

Excise policy changes across states positive for listed liquor majors

Instead of steep hikes, states are relying on licence fee increases, reserve price revisions, and recalibration of tax

Rising defence-related opportunities may boost Bharat Electronics stock

BEL is a manufacturer and integrator of radars, communication systems, EW suites, and avionics

RIL's telecom, retail and new biz could mitigate impact of West Asia crisis

While the Middle East conflict has hit sentiment, analysts say strong diesel cracks, petchem margins, and rising contributions from telecom, retail and new businesses could soften the blow for RIL

IndiGo may face further downgrades as Iran conflict clouds outlook

IndiGo's earlier positive outlook has been upended by the Iran conflict, with airspace closures, rising fuel costs and operational disruptions raising the risk of further valuation downgrades

Oil producers may benefit as crude spikes amid Hormuz disruption risk

Escalating tensions in West Asia threaten crude and LNG flows via the Strait of Hormuz, pushing prices sharply higher and lifting prospects for ONGC and Oil India even as OMCs face pressure

Extended Iran conflict may disrupt L&T's order inflows, regional projects

With nearly half its order book linked to the Middle East, L&T may see short-term disruptions from the Iran conflict, raising concerns over execution, exports and regional project pipelines

Higher growth and margin gains fuel sharp rally in Hitachi Energy India

Hitachi Energy India's stock has jumped 54% in a month on strong Q3 results, robust order flows and rising margin visibility, though analysts warn high valuations could amplify downside risks

Solar equipment majors look to widen horizons to counter US duty threat

US plans steep countervailing duties on solar imports from India, prompting module makers to explore alternative markets and new supply chain strategies to mitigate the impact

Infra recovery could accelerate NBFC growth after strong Q3 trends

NBFCs reported stronger Q3FY26 growth with margin expansion, lower credit costs and improved asset quality; a revival in infrastructure-linked activity could further support sector momentum into FY27