HSBC on Avenue Supermart
Reduce, TP Rs 3,700
Pricing comparison vs peers points to shrinking differential.
Pricing remains the key moat for Dmart vs other retailers.
Challenges to sustaining high SSSG.
Valuation sensitive to SSSG – 1% increase → 11% higher fair value.
Store addition expectations unlikely to offset muted SSSG.
Daily Morning Report Date: 08.10.2025
NIFTY OUTLOOK: 25108.30 FII: 1440.66 cr DII: 452.57 cr
As discussed yesterday, market behaviour remained on expected lines during the session. Strong buying confidence and sustained bullish momentum carried Nifty up to our resistance of 25217, marking a high of 25220.90.
BRIGHTCOM
Board to consider incorporation of Brightcom Defence Pvt Ltd and fund centralisation plan on Oct 10.
Board to review proposal for forming Brightcom Defence focused on aerospace intelligence and autonomous defence software.
1. FIIs net long position stands at 7% (highly oversold).
2. PCR at 1.05.
3.India VIX at 10.05.
4. FIIs bought Rs. 1440.66 cr in cash, covered shorts worth Rs. 1549 cr, and booked profits of Rs. 1567.34 cr.
Equirus on TrentDowngrades To ‘Reduce’ From ‘Add’; Cuts Target Price To ₹4,474 From ₹5,759Premium To Fade As Growth Moderates; Signs Of Growth Fatigue Have Emerged SinceQ2 Is Poised To Be The Fifth Consecutive Quarter Of Sequential Moderation In Topline GrowthQ2 Standalone Revenue Growth Of 17% Marks Lowest Performance In The Past 18 QuartersExpectation Of 26% […]
KRN HEAT EXCHANGER
Co acquires Sphere Refrigeration’s Bus Air-Conditioning division
Strategic acquisition through Business Transfer Agreement signed between KRN HVAC Products Pvt. Ltd. and Sphere Refrigeration Systems Pvt. Ltd.
All operations, assets, and employees of the bus AC business to be integrated with KRN’s HVAC division.
Strengthens KRN’s presence in automotive HVAC, expanding its mobility cooling portfolio.
Daily Morning Report Date: 07.10.2025
NIFTY OUTLOOK: 25077.65 FII: -313.77 cr DII: 5036.39 cr
As discussed yesterday, market behaviour remained on expected lines during the day, as the continuation of bullish momentum and strong demand took the Nifty rally up to 24995.95 on a successful breakout above 24940, and it closed near our projected level of 25077 at 25077.65.
A series of three consecutive bullish candles on the daily chart indicates strong momentum, suggesting the current uptrend is likely to continue. If Nifty sustains this northward move, then on a decisive breakout above 25124, it may rally further to 25171–25217, while stronger demand could extend gains up to 25263.
NYKAA Q2 BIZ
Nykaa Reports Strong Q2 FY26 Momentum; GMV Growth Nearing 30% Driven by Beauty & Fashion
Robust Growth: Consolidated GMV growth expected close to 30% YoY, led by strong traction in Beauty and Fashion verticals.
Beauty Vertical: Continues strong double-digit growth with support from brands like Dot & Key, Kay Beauty, and Nykaa Cosmetics.
Fashion Vertical: NSV growth in higher mid-20s, net revenue growth improving to low 20s on better brand assortment and customer acquisition.
JPMorgan on Avenue Supermarts – Maintain Neutral | Target ₹4,350
Q2 revenue growth of 15% may weigh on near-term stock performance; revenue 2% below street expectations. Store expansion pace steady.
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