MT Highlights Daily

Capri Global Capital (CGCL)
Blockbuster Q2FY26 – Highest ever revenue, PBT & PAT.
Revenue ₹1,121 cr vs ₹752 cr YoY; PBT ₹314 cr vs ₹128 cr; PAT ₹236 cr vs ₹97 cr.
GNPA 1.23%, NNPA 0.69%. Stable asset quality.

Nuvama on Varun Beverages
TP ₹595 vs ₹606 (Buy). Weak Q3CY25 as expected; entry into AlcoBev via Carlsberg pilot in Africa.
EPS cut ~5%.

LENSKART IPO INSIGHT
Compared to 4 global peers, Lenskart has the lowest EBITDA margin at 9.5% but trades at the highest P/E of 543.2x and Mkt Cap/Sales of 10.5x, indicating stretched valuations.
While listing gains may remain muted, the business model is strong and supported by a large, underpenetrated ₹15,207 Bn eyeglasses market, offering long-term growth potential for organized players.

Jefferies on Shree Cement
Recommendation Buy; Target Price ₹33420, Earlier Target ₹35150
Miss on higher cost; Mgmt reiterates Value over Volume focus
Following weak Sep qtr, cut EBITDA est by ~3-5%
Stock outlook will improve only post any turnaround in Industry Cement prices in Mar qtr

Puravankara: Company bags Rs 212 crore order for SBR Global Queen’s Ville residential project. (Positive)
IFB Industries: CRISIL has revised the rating outlook to ‘Positive’ from ‘Stable’ & reaffirmed the ratings. (Positive)

Nifty Outlook: 25,936.20  FII: Rs.10,339.80 cr  DII: Rs.1,081.55 cr
As discussed yesterday, market behaviour remained on expected lines as Nifty continued its uptrend, rallying up to 26,041 but failing to sustain there, slipping to a day low near our support level of 25,810.

CITI on Voda Idea & Indus Tower
Voda Idea stated that Supreme Court “has permitted GOI to consider grievances of Co on issues relating to AGR”
Believe this could have significant positive ramifications for Voda Idea &, by extension, for Indus Towers
With a large lumpsum amount towards AGR dues coming up for payment by VI to govt. in Mar’26, believe that relief should be forthcoming well ahead of this deadline – ie, in coming weeks & months
Indus Tower – Buy, TP Rs 460
Voda Idea – Buy/High Risk – TP Rs 10

Nifty Outlook: 25,966.05  FII: -Rs.55.58 cr  DII: Rs.2,492.12 cr
As discussed yesterday, market behaviour remained on expected lines as Nifty continued its uptrend and moved up to our resistance level of 26,005, making a day high of 26,005.95.

Open Interest Position:A. FIIs bought 4,303 lots in index futures and created shorts in 5,388 lots (net -1,085 lots).B. DIIs booked profit in 474 lots and covered shorts in 20 lots (net -454 lots).C. Clients and retail booked profit in 3,949 lots and created shorts in 950 lots (net -4,899 lots).D. Proprietary traders created long […]

GS on PTC Industries: Maintain Buy on Company, target price at Rs 24725/Sh (Positive)
JP Morgan on Coforge: Maintain Overweight on Company, raise target price at Rs 2500/Sh (Positive)
MS on Coforge: Maintain Overweight on Company, raise target price at Rs 2030/Sh (Positive)
Nuvama on Coforge: Maintain Buy on Company, raise target price at Rs 2250/Sh (Positive)