By Trendlyne AnalysisThisgems & jewellery stock rose 11% in the past week after itsQ3FY26 revenue beatForecaster estimates by 2.4%. Revenue grew 42% YoY to Rs 10,343 crore, driven by festive demand and wedding purchases. India remained the main contributor, supported by stable footfalls despite elevated gold prices. Net profit rose 90%, aided by cost control and operating leverage.
Higher gold prices have increased inventory value, while stock levels are being adjusted gradually. A higher mix of 18-carat and lower-carat jewellery is supporting affordability. During 9MFY26, the company used around Rs 300 crore of free cash flows for debt reduction and dividends. It also plans to sell non-core real estate assets by H1FY27 to further strengthen the balance sheet.
Kalyan’s omnichannel jewellery platform, Candere, continued to scale rapidly, with revenue more than doubling YoY and the business turning profitable, reflecting improving operating efficiency as volumes rise. International expansion remains measured, with showroom additions paced conservatively rather than aggressively.
Executive Director Ramesh Kalyanaraman noted that showroom expansion remains on track, with additions planned over the next few years. “Investments in Candere and regional brand stores are expected to be between Rs 80 crore to Rs 125 crore,” hesaid. Showroom expansion is supported by the FOCO (franchise-owned, company-operated) model, which keeps capital needs low. Changes to franchise terms are expected to improve margins by another 25–50 basis points.
BOB Capital Markets upgraded the stock to ‘Buy’ with a lower target price of Rs 487. The upgrade is based on expected earnings growth from demand, same-store sales, store expansion, and margin improvement from scale. The lower target price is due to the brokerage assuming the stock may trade at lower multiples than before. It also highlights slower-than-expected store additions or rollout disruptions as key risks, given expansion’s role in growth.
Thispower company surged 13.9% on February 6 after announcing itsQ3FY26 results. Its net profit rose 90.3% YoY, beatingForecaster estimates by 9.4%. Revenue grew 28.5%, driven by strong demand in India and key international markets, and higher market share in the utility and industrial segments.
Quarterly order inflowswere Rs 2,478 crore, down 78.6% due to a large one-time order last year. Excluding that, orders grew 73.7%. The order backlog hit a record Rs 29,872.2 crore, providing strong revenue visibility. Growthwas led by transformers, reactors, and switchgear.
Management highlighted protections against input cost volatility. MD and CEO N Venusaid, “Most of our backlog includes price escalation formulas, covering over 70% of our portfolio.” This allows the company to raise prices automatically when input costs rise. Remaining orders typically have a short one- to two-month execution cycle, where price escalation clauses usually do not apply, he added.
The company is optimistic about export growth, anticipating benefits from new trade agreements. Venubelieves the India–EU Free Trade Agreement (FTA) and the India–US trade deal will boost their ability to supply key markets in Europe and North America.
Hitachi Energy India targets AI-ready data centres as a key growth area. Managementestimates a 10–15% addressable opportunity within India’s data centre market,projected to attract $100 billion by 2027. The company provides power systems capable of handling the rapid power swings required by AI infrastructure. To seize this opportunity, Hitachi is deploying advanced solutions for power-intensive facilities, such as its recent 220 kV gas-insulated switchgear (GIS) in Pune.
Citing this performance, Jefferiesmaintains a “Buy” rating with a Rs 25,000 price target. The firm sees Hitachi as a prime beneficiary of the global energy transition, projecting a 74% CAGR in earnings per share through FY28.
This motorcycle manufacturer hit an all-time high of Rs 7,968 on February 12 after posting its Q3FY26 results and approving a major capacity expansion for Royal Enfield.
The board cleared a Rs 958 crore investment to expand manufacturing at Royal Enfield’s plant in Tamil Nadu. This will raise total annual capacity by 37% to nearly 20 lakh units across all plants. The rollout will be done in phases from Q1FY27, with completion expected by FY28.
In Q3, the company’s net profit grew 21% YoY, supported by better pricing and higher sales of premium models. Royal Enfield saw strong demand across its core models such as Classic, Bullet, and Hunter. Recent upgrades in these bikes helped offset demand softness after GST changes.
Royal Enfield gets about 91% of its volumes from the below-350cc segment. This segment benefits from GST 2.0 reforms, where the tax rate was cut from 28% to 18%. The 350cc platform continues to lead growth, while sales of 650cc models are improving and the 450cc range is seeing gradual traction. MD B. Govindarajan said, “The cut in US tariffs to 18% and removal of certain EU duties could improve demand for the 450cc and 650cc models in overseas markets.” Currently, around 15% of the company’s revenue comes from exports.
Eicher’s EBITDA margin improved by 100 bps to 25.5%, helped by price hikes taken in H1FY26. This partly offset higher costs of aluminium and copper. Govindarajan expects commodity prices to remain high but manageable through price hikes and cost control. He added that growth momentum should continue in Q4, with the company aiming to grow faster than the industry next year, supported by new launches.
ICICI Direct has set a target price of Rs 9,100, citing expectations of double-digit volume growth at Royal Enfield and its strong position in the mid-weight motorcycle segment. Rising commodity costs remain a key risk. The brokerage expects Eicher’s sales and net profit to grow at a CAGR of 15.4% and 14%, respectively.
This aerospace & defence stock climbed 9.7% last week following its Q3FY26 results. Net profit grew 30.5% YoY, boosted by lower raw material costs and an improving order mix. Revenue soared 47.9% as the company ramped up order execution. Both revenue and net profit beat Forecaster estimates by a wide margin.
Improvements in the production and services segments supported the revenue jump. Sales of electronic warfare (EW), radar, and avionics systems surged 69%. These products generate about 87% of the company’s total revenue.
The order book currently stands at Rs 1,868 crore. The company is negotiating another Rs 1,100 crore in orders and expects to finalise them in the next couple of months. Additionally, it anticipates winning Rs 500-600 crore in near-term contracts. Discussing the outlook, Chairman & MD Srinivasagopalan Rangarajan said, “We are confident of achieving revenue growth of 20-25% with EBITDA margin at 35-40% for FY26.”
To meet these goals, Data Patterns plans to co-develop EW and radar systems with Indian and global partners. The company also aims to expand the export segment, which currently contributes 10% of revenue. Its order book sits at Rs 63 crore at the end of Q3. Management highlighted growing opportunities in Europe and the US, driven by new trade agreements, and is targeting a ramp-up in exports over the next 3-5 years. Lower development costs, faster delivery, and in-house technology give the firm an edge over European peers.
Following the results, ICICI Direct reiterated its ‘Buy’ rating with a target price of Rs 3,560, implying a 28.6% upside. The brokerage cites improved execution and a substantial pipeline as key revenue and net profit drivers. Analysts expect the company to deliver annual revenue and profit growth of about 22% through FY28.
The stock of the auto parts & equipment company climbed over 8% in the past week, driven by strong Q3FY26 results and the finalisation of landmark trade agreements between India and the EU, as well as India and the US. These agreements are pivotal for the group, which maintains a massive global footprint; as of FY25, Europe generated 34%, and the US contributed 19% of total group revenue. The finalised trade pacts are expected to streamline cross-border operations and enhance profitability in these high-exposure markets.
In Q3, the company reported a 13.3% YoY increase in revenue to Rs 31,460.8 crore, led by strong demand for wiring harnesses and polymer modules. Net profit rose 16.5% to Rs 1,023.7 crore, driven by improved inventory management and a reduction in finance costs. It appears in a screener of stocks that have shown consistent high performance over the past five years.
Quarterly revenue surpassed Trendlyne’s Forecaster estimates by 1.4% as the company aggressively scaled its presence in emerging markets. The company is currently developing 12 greenfield plants to support future growth in both automotive and non-automotive sectors. Recent highlights include new facilities in India for vision systems and Morocco for wiring harnesses. Management has noted that most of these projects are scheduled to go live by the second half of FY27, providing the necessary capacity to meet the increasing demand for integrated components across the globe.
President Pankaj Mital has set an ambitious revenue target of $108 billion over the next five years. This growth strategy focuses on high-traction areas like aerospace and consumer electronics alongside the core automotive business. While non-auto revenue currently stands at 5%, it is expanding rapidly from a low base. Mital highlighted that the company’s goal is driven by “stronger integrated manufacturing capabilities” and a concerted effort to diversify the group's earnings beyond the traditional vehicle market.
Regarding financial planning, Vice Chairman Laksh Vaaman noted that the company has invested Rs 4,200 crore in capex over the last nine months. He reaffirmed the FY27 capex guidance of approximately Rs 6,000 crore, signaling a disciplined expansion phase. Discussing the spending trajectory, Vaaman stated, “We believe our exit number would be well within this guidance as far as next year is concerned.” This capital discipline ensures that SAMIL can fund its global expansion without overextending its balance sheet.
ICICI Securities has reiterated its ‘Buy’ rating on SAMIL and raised the target price to Rs 155. The brokerage believes the company’s diversified business model, strong customer relationships and powertrain-agnostic portfolio position it well to navigate global uncertainties relative to peers.
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