JMFICS research reports

• investments

Kalyan Jewellers has large growth opportunity from the huge unorganised market. Buy for target price of ₹700 (19.4% upside): JMFICS

Arjun July 15, 2025

Kalyan Jewellers was founded by T S Kalyanaraman – who has over 45 years...

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• investments

Tips Music is poised for growth even in a turbulent industry landscape. Buy for target price of ₹800 (24% upside): JMFICS

Arjun July 10, 2025

We initiate coverage on Tips Music Ltd (Tips Music) with a BUY rating and...

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• investments

HG Infra has robust execution track record, strong growth and lean balance sheet. Buy for target price of ₹1740 (65.7% upside): JMFICS

Arjun June 30, 2025

We met the management of HG Infra led by Chairman and Managing Director Mr....

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• investments

SJS Enterprises is expected to outperform the industry growth by 2x. Buy for target price of ₹1425 (16.6% upside): JMFICS

Arjun June 25, 2025

We recently visited SJS's manufacturing facilities in Bengaluru. The company has built end-toend capabilities,...

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• investments

Delhivery is expected to see significant re-rating. Buy for target price of ₹450 (24.7% upside): JMFICS

Arjun June 24, 2025

Delhivery has outperformed the market since announcing the acquisition of Ecom Express, we believe...

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• investments

Juniper Hotels is targeting 3x revenue by FY30. Buy for target price of ₹410 (29.7% upside): JMFICS

Arjun June 12, 2025

We attended the analyst meet hosted by Juniper Hotels wherein the company highlighted its...

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• investments

Zinka Logistics Solutions has robust growth with sustained operating leverage. Buy for target price of ₹590 (28.3% upside potential): JMFICS

Arjun May 28, 2025

BlackBuck reported a strong quarter with an even stronger margin expansion. As discussed in...

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