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HCLTech shares declined 17% in three days from April 22 to 24 after reporting its fourth quarter earnings. During this period, the leveraged positions on the shares witnessed a five fold jump.

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Nimesh Chandan, CIO, Bajaj Finserv AMC On CNBC-TV18:

Expect Good Earnings In Q4FY26

Market Is Pricing-in A Peace Deal Between US-Iran

West Asia Oil Production Infra Is Intact So Futures Are In Deep Backwardation

Remain Positive On Healthcare

Continue To Be Underweight On IT Due To Expensive Valuations

Pain Likely To Continue In IT Companies

Commodities Underappreciated With Constrained Supply

Countries Likely To Increase Defence Spending

Bullish On Ferrous & Non-Ferrous Metals

Bullish On Cement With Possible Price Hikes Going Forward

Bullish On Textiles, Supported By Higher Cotton Prices And Rupee Depreciation

Defence Remains A Structural Growth Story, Driven By Rising Global Spending

Defence Order Books Are Likely To Keep Expanding

Focus On Defence Is A Mega Trend, Likely To Drive Continuous Earnings Upgrades

Eternal shares are trading 1.4% lower at the moment. The company is set to report its fourth quarter earnings today.

Gyanendra Shukla, MD & CEO, Rallis India On CNBC-TV18:

Industry Faced Excess Inventory 2 Years Ago, Cos No Longer Carrying High Inventory Levels

A Lot Depends On The Timely Arrival Of Rainfall

West Asia War Has Impacted Biz w.r.t Input Costs

Seeds Business Has Gained Traction, Saw Strong Performance This Time

Expect Seeds Business To Grow At Mid-to-high Teens (Current Revenue: `485 Cr)

Pesticides Continue To Be The Primary Business

Seeds Business Is Seasonal In Nature, Will Deliver Higher Margin & Revenue In H1

Seeds Biz Saw Rev Growth Of 15%, EBITDA Growth Of 87%, & PAT Growth Of 167% In FY26

The stock is currently down 7.3% post its Q4 results:

Net Profit down 52% At Rs 139.4 Cr Vs Rs 291 Cr (YoY)

Revenue down 8% At Rs 4,633.5 Cr Vs Rs 5,046.6 Cr (YoY)

EBITDA down 34.7% At Rs 480.9 Cr Vs Rs 736.1 Cr (YoY)

Margin At 10.4% Vs 14.6% (YoY)

The stock is up over 4% post earnings.

Varun Beverages shares are in focus as brokerages have turned positive on the stock post its March quarter results led by strong volume growth.

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HSBC On Bajaj Housing Finance:

Reduce Call, Target Price At Rs 77/Sh

Facing Pressure On Yields With High Funding Costs

EPS Estimates Cut By 1%/1.9% For FY27/28

Industry Headwinds Remain Strong

– Revenue up 21.4% At ₹1,233 crore Vs ₹1,016 crore

– EBITDA up 32% at ₹740 crore vs ₹560 crore

– OPM At 60% Vs 55%

– Net Profit up 50% At ₹403 crore Vs ₹289 crore

– Operating cash flow up 16% YoY

Net debt at ₹3,160 crore (up 454 crore YoY)

Bajaj Housing Finance Q4 Update

– 23% YoY AUM growth.

– Disbursements rose 23% YoY and 6% QoQ.

– Net Interest Income grew 15% YoY

– PAT grew 14% YoY.

– NIM softened to 3.8%; spreads compressed 10 bps QoQ.

– GNPA at 0.27% and NNPA at 0.11%.

Jefferies On Varun Beverages:

Buy Call, Target Price At Rs 615/Sh

Strong Quarter With Over 14% Volume Growth In India

Stable Margin Despite Competitive Concerns

International Business Also Delivered Strong Performance

Management Remains Positive On Growth & Margin, Subject To Seasonal Factors

Focus On Overall Market Expansion Rather Than Competition

Jefferies On UltraTech:

Buy Call, Target Price At Rs 14,050/Sh

Co Ended FY26 On A Strong Note

Q4 EBITDA Up 21% YoY, Driving FY26 EBITDA Growth Of 36% YoY

FY26 Also Saw 14% Volume Growth, With Over Half Of Planned Savings Delivered

Co Announced A Record 85%+ Dividend Payout As A Special Dividend

Co Crossed The 200 mtpa Capacity Milestone

FY27 Will Be A Tougher Year Amid Cost Headwinds

Company May Target YoY EBITDA/t Growth Via Price Hikes & Cost Savings

Companies including Maruti Suzuki India, Eternal, Bandhan Bank, Castrol India, Sapphire Foods, CEAT, Piramal Pharma, Star Health, REC, Motherson Sumi Wiring, Sanofi Consumer Health, Sanofi India, Leela Palace Hotels, are among the companies reporting their earnings today.

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