HORIZONINDHorizon Industrial Parks Ltd
80% Margins Hide the Depreciation Headwind—but the Strategy is Clear
industrial-logistics · reit · in-city-expansion
Research Reports
13 Sept 2026
12 Sept 2026
GRANDFONRYGRAND FOUNDRY LTD.
Grand Foundry approves a ₹99.22 Cr purchase of 62.01% of Tikona Infinet — about 2.2× its own market cap
acquisition · non-convertible debentures · wireless broadband
ResearchDeep dive5 minMetals & Mining
AXELPOLYAXEL POLYMERS LTD.
Axel Polymers receives SEBI show cause notice over ₹31.57 Cr GST credit — against a ₹50 Cr market cap
SEBI · show cause notice · GST
Research4 minIndustrials & Infra
KESORAMINDKESORAM INDUSTRIES LTD.
Frontier Warehousing takes control of Kesoram with a 42.80% purchase; a new board and MD arrive the same day
change of control · share purchase agreement · promoter reclassification
Research4 min
MOLBIOMolbio Diagnostics Ltd
Platform Scaling Meets Acquisition Headwinds—Too Early to Call the Trade-Off
point-of-care · Truenat · OptraScan
MOLBIOMolbio Diagnostics Ltd
Platform scaling, but near-term dilution from new acquisitions
Truenat scale-up · OptraScan integration · 25% FY27 growth
IBULLSLTDYaari Digital Integrated Services Ltd
Indiabulls' ₹1,050 Cr all-stock deal for 70% of Fintech Cloud implies an issue price near double the market
acquisition · NCLT scheme · fintech
ResearchDeep dive5 minFinancial Services
11 Sept 2026
SHIPROCKETShiprocket Ltd
Growth without profit: Shiprocket's math still doesn't add up
platform EBITDA · emerging profitability · merchant scale
SHIPROCKETShiprocket Ltd
Strong 34% growth offset by ₹13.7Cr loss; EBITDA inflection emerging
transaction growth · emerging acceleration · EBITDA inflection
LALITHAALalithaa Jewellery Mart Ltd
Lalithaa Jewellery Q1 FY27: consolidated PAT down 22% YoY to ₹208 Cr on margin squeeze
jewellery retail · margin compression · ipo debut listing
HORIZONINDHorizon Industrial Parks Ltd
Horizon Industrial Parks: consol loss narrows 82% YoY to ₹11.6 Cr, but reverses Q4 profit
industrial parks · warehousing reit-style holdco · ipo deleveraging
BLELBehari Lal Engineering Ltd
Structural story intact; execution risk priced in
mix shift · capacity expansion · earnings quality
BLELBehari Lal Engineering Ltd
Mix shift + Unit 3 unlock margin story; near-term growth moderate
high-value mix · capacity expansion · defense entry
SAPPHIREDEVYANI
Sapphire and Devyani Take Their Merger to the CCI — the Amended Scheme's First Regulatory Test
merger · scheme of arrangement · CCI
ResearchFollow-up5 minConsumer & Retail
TEMPSENSTempsens Instruments (India) Ltd
First Full Quarter Public: Tempsens Primed on Growth Momentum, Margins Under Watch
earnings · thermal engineering · Q1 FY27
10 Sept 2026
SYSTEMATICSystematic Industries Ltd
Systematic Industries wins ₹82.42 Cr POWERGRID OPGW order — about 13% of market cap, after a 29% run
POWERGRID · OPGW · order win
Research4 minIndustrials & Infra
SHANKESHShankesh Jewellers Ltd
Shankesh Jewellers Q1 FY27: standalone PAT doubles YoY to ₹43.2 Cr on margin expansion
gold jewellery · margin expansion · ipo listing
CUBIFINCUBICAL FINANCIAL SERVICES LTD.
Cubical Financial's ₹2.50 open offer opens September 17, far below the ₹6.69 market close
open offer · SEBI SAST · change of control
Research5 minFinancial Services
DBLDilip Buildcon Ltd
Dilip Buildcon signs the Mekhali sale and wins an LPG pipeline LOI — DBL 2.0 moves from plan to contracts
dilip buildcon · asset monetisation · power transmission
ResearchDeep dive6 minIndustrials & Infra
DHOOTTRANSDhoot Transmission Ltd
Strong debut, but Hero's battery pack lock defines the quarter
EV concentration · Hero Motors · Multilink integration
DHOOTTRANSDhoot Transmission Ltd
Strong debut, but EV battery pack single-customer risk
EV growth 79% · capacity expansion · Multilink integration
GAJAGaja Alternative Asset Management Ltd
Gaja AMC: core fee revenue down 49% YoY as Q1 PAT surges on lumpy other income
alternative asset management · carried interest · other income swing
NIKSTECHNiks Technology Ltd
Niks Technology promoters sell their entire 46.22% at ₹136 — 55% below the last traded price
open offer · change of control · share purchase agreement
Research4 minTechnology / IT
09 Sept 2026
COCHINSHIPCochin Shipyard Ltd
Cochin Shipyard puts its Kochi ship repair facility into a ₹1,800 Cr JV — Drydocks World will name the CEO
joint venture · ship repair · slump sale
ResearchDeep dive6 minIndustrials & Infra
NXSTNexus Select Trust
Nexus Select buys a ₹1,600 Cr under-construction Guwahati mall and hotel — its first step into the Northeast
REIT · acquisition · Guwahati
ResearchDeep dive6 minReal Estate
ADANIENTADANI ENTERPRISES LTD.
Adani Airports signs a ₹9,825 crore raise that puts an external ~USD 18 billion value on AEL's airports arm
Adani Airport Holdings · primary equity raise · airports
ResearchDeep dive5 minIndustrials & Infra
ARNOLDArnold Holdings Ltd
Arnold Holdings: a 14.95% stake sale at ₹12 triggers a 39% open offer priced below the market
open offer · share purchase agreement · SEBI SAST
ResearchDeep dive6 minFinancial Services
HORIZONINDHorizon Industrial Parks Ltd
Horizon Industrial Parks' first quarter as public: asset growth meets debt reality
industrial logistics parks · Blackstone portfolio · asset utilization
08 Sept 2026
