Garden Reach Shipbuilders & Engineers (GRSE), one of India’s leading defence public sector undertaking shipyards, primarily caters to the shipbuilding requirements of the Indian Navy and the Indian Coast Guard

After many years of stagnant performance, growth prospects are looking bright across all parameters. Revenue CAGR of 20% in FY2224E coupled with margins hitting 10.8% in FY24E will enable TRIL to post its best ever profitability performance.

Consistent improvement in financial performance of NSL in spite of cyclical nature of textile industry signifies NSL’s ability of optimum asset utilisation leading to sustainable profit growth. In line with its superior fundamental performance, the stock price has grown at 15% CAGR over last five years

Consistent business growth with focus on efficient operations coupled with relatively lower cost and strong underwriting to benefit earnings and return ratios

Introducing FY25E and rolling over our valuations, we now value the Nifty at 21,500 i.e. 21x P/E on FY24-25E average EPS of Rs 1020 with corresponding Sensex target at 71,600; offering a healthy potential upside of ~19%.

A stellar run up by PSU banks had all eyes glued towards them. We tried to analyse the factors leading to the rally and what is in store ahead

History does not repeat but it rhymes: Indian equities are likely to display the same rhythm that the US and Nikkei did in 1990-2000 and 1980-1990, respectively, i.e. delivering a decadal move of 5x on headline indices. Our prognosis of various Technical studies leads us to the conclusion that the Nifty is poised to reach towards 50000 by CY30. More so, the performance of 2021 and 2022 further adds strength to our argument given the Nifty is mimicking our forecast trajectory. What is more exciting is that we are entering 2023, which, as per decadal studies, has turned out to be a strong year

With capex cycle revival under way domestically and increasing acceptance of India as a credible, quality driven manufacturing hub (export opportunity), we stay constructive on overall markets. We believe any dips should be used to build a long term portfolio of quality companies that have lean balance sheets, are capital efficient in nature and possess growth longevity

PNC Infratech has established itself as a strong executor in the roads, water infra and airport runway segments. Additionally, superior execution capabilities via ownership of modern equipment and in-house teams enables PNC to deliver projects on time. PNC has executed 70 major infrastructure projects till date.

Globus Spirits (GSL) is the largest grain based ENA manufacturer in India with a capacity of 250 million litre. The company is also a supplier of Indian made Indian liquor (IMIL) and premium IMFL in India.