Stock research
Deep dives on single companies — delivery data, promoter trends, quarterly results and the valuation case, written to stand on their own.
55 articles, newest first · page 1 of 7
GE Power India — The Turnaround Is Real, the Chart Is Not
GE Power India turned a Rs 441 Cr loss into a Rs 253 Cr profit and is demerging its loss-making Durgapur plant to JSW Energy. But the free JSW shares are worth only Rs 33, margins fell from 34% to 15% in one quarter, and the stock is 44% below its high, below every moving average. Verdict: WATCH — THE BUSINESS IS FIXED, THE CHART IS NOT.
GVPIL · 23 Oct 2026 · 15 min readDeep dive · IndiaSwiggy — The Loss Is Contracting, the Stock Is Not
Swiggy's H1 FY27 loss is 25% below last year and food delivery now earns Rs 341 Cr of quarterly EBITDA, but Instamart alone lost Rs 895 Cr and the sequential loss widened. At 1.2x EV/revenue against Eternal's 5x the market has priced the bear case; the chart, at an all-time low with 12 checklist fails, says wait for the Q3 Instamart number.
SWIGGY · 23 Oct 2026 · 15 min readDeep dive · IndiaZen Technologies — Deep Dive: Capabilities, Order Book and the FY28 Test
Zen has the deepest capability stack in Indian defence simulation — Army and Navy leadership, a completed Air Force product, a man-portable anti-drone system and now an AI battlefield-management business. But FY26 revenue fell 29%, the 35% EBIT target is being formally walked back, and at 73x earnings the price already assumes the order book converts on schedule. Verdict: CAPABILITY IS REAL, TIMING IS NOT — WAIT FOR Q2 FY27.
ZENTEC · 23 Oct 2026 · 15 min readDeep dive · IndiaKernex Microsystems — Deep Dive Analysis
Kernex is the cheapest stock in the Kavach pack at 15x earnings, and on FY27 execution it may be cheaper still: Q1 revenue was Rs 504 Cr against Rs 431 Cr for all of FY26. But the order book fell 12% QoQ to Rs 3,641 Cr, receivables sit at 268 days, borrowings tripled, and HBL has guided that Kavach revenue peaks around FY28. Verdict: ACCUMULATE ON EXECUTION, NOT A SWING SETUP.
KERNEX · 20 Oct 2026 · 15 min readDeep dive · IndiaCG Power — What Changed Since June (and Whether to Buy the Fall)
Refreshed 19 Oct at ₹854 with Q2 FY27 due 23 Oct. Order book ₹18,965 Cr (+45%), delivery 50.8%, but 108x earnings and 16.7x book give no protection in a falling market. Verdict: accumulate in tranches around the 200-DMA at ₹804, not a full position at ₹854.
CGPOWER · NSE · 19 Oct 2026 · 15 min readDeep dive · IndiaMazagon Dock Shipbuilders — Deep Dive Analysis
Mazagon Dock is India's only yard building both destroyers and conventional submarines, with a pristine balance sheet, 36% ROCE and the cheapest multiple among shipbuilding peers. The problem is what it will build next: the order book has fallen to Rs 18,218 Cr from Rs 38,561 Cr in FY24 as P17A, P15B and P75 Kalvari complete, while the Rs 99,000 Cr P75(I) submarine contract remains unsigned and management says new orders take about two years to reach revenue. Verdict: CAUTION — priced for orders not yet signed.
MAZDOCK · 13 Oct 2026 · 15 min readDeep dive · IndiaSyrma SGS Technology — Deep Dive Analysis
Revised deep dive: Syrma is up 22.6% to Rs 1,720 since our 4 August note, the trailing P/E has expanded to 89.3x, and average delivery has fallen to 28.2% from 37.3%. Q2 FY27 is not yet reported. Clarifies the two Rs 1,000 Cr QIPs and adds the Exchange Filings section. Verdict: CAUTION — priced for perfection.
SYRMA · 10 Oct 2026 · 15 min readDeep dive · IndiaAzad Engineering — Deep Dive Analysis
Revised deep dive: the stock is up 44% to Rs 2,910 since our 27 June note while TTM profit sits below FY26, FIIs and DIIs both cut holdings, and the working capital cycle widened to 344 days. Includes the full 25-point technical checklist and updated levels.
AZAD · 9 Oct 2026 · 10 min readDeep dive · IndiaYatharth Hospital & Trauma Care Services — Deep Dive Analysis
Revenue up 52% but net profit flat for five straight quarters as depreciation and interest consume the growth. Advent International is buying 24.87% at Rs 985 - diluting EPS by up to 25% versus the published consensus. The market price sits above both the average analyst target and Advent's own entry price. Rating: CAUTION - wait for dips.
YATHARTH · NSE · 8 Oct 2026 · 15 min read