In this briefing: Finolex Cables: Expanding Beyond Wires Aequitas: Manipal Hospitals Pre-IPO - The Negatives - Growth Mostly Via Acquisitons India's PLI 2.0: From Assembler to Ambition L&T's Nuclear Bet: The Margin-Rich Vertical That Could Redefine Its Multiple SENSEX Index Rebalance Preview: Sector Balance Could See Hindalco Replace Trent 1. Finolex Cables: Expanding Beyond Wires Finolex Cables is transitioning into a diversified electrical platform , driven by strong volume growth across Cables, Solar and Auto Segments Q3 FY26 Revenue of Rs. 1,599 crore up 35% YoY with Electrical Cable Volume surging 20%+ YoY and Solar Cables emerging as High Utilization Segment. Finolex’s backward integration into Optical Fiber Preform will shift it from Price-Taker to Margin-Defender in OFC. 2. Aequitas: Manipal Hospitals Pre-IPO - The Negatives - Growth Mostly Via Acquisitons Manipal Health Enterprises (MHEL) is looking to raise about US$1bn in its upcoming India IPO. MHEL operates a pan‑India network of multispecialty hospitals delivering a range of care services, from outpatient services to complex tertiary and quaternary interventions.

In this briefing: India's PLI 2.O: From Assembler to Ambition L&T's Nuclear Bet: The Margin-Rich Vertical That Could Redefine Its Multiple SENSEX Index Rebalance Preview: Sector Balance Could See Hindalco Replace Trent Industrials (Q4FY26 Results Preview): Domestic recovery, geopolitical headwinds Leveraged Financials: Risk Premium on the Rise, Flight to Safety 1. India's PLI 2.O: From Assembler to Ambition India's original mobile PLI scheme expired March 31, 2026. A successor framework, PLI 2.0, is under active negotiation between MeitY and industry, with focus on export performance and domestic value-addition. Smartphones are now India's single largest export category. Apple, Foxconn and Tata Electronics have staked billions on India. Without continued stimulus, a 10-12% structural cost disadvantage versus China threatens to stall the momentum before supply chains deepen. 2. L&T's Nuclear Bet: The Margin-Rich Vertical That Could Redefine Its Multiple L&T guided for 3.0–3.5x nuclear revenue growth over five years.

In this briefing: L&T's Nuclear Bet: The Margin-Rich Vertical That Could Redefine Its Multiple SENSEX Index Rebalance Preview: Sector Balance Could See Hindalco Replace Trent Industrials (Q4FY26 Results Preview): Domestic recovery, geopolitical headwinds Leveraged Financials: Risk Premium on the Rise, Flight to Safety Vishal Mega Mart (Initiating Coverage): A well-diversified value retail play 1. L&T's Nuclear Bet: The Margin-Rich Vertical That Could Redefine Its Multiple L&T guided for 3.0–3.5x nuclear revenue growth over five years. Hi-Tech Manufacturing delivered an 18.3% EBITDA margin in Q3 FY26, three times the Infrastructure segment's 6.1%. Every incremental rupee of nuclear revenue earns outsize returns; the quality-of-earnings upgrade is structural and policy-backstopped. The West Asia conflict is a material near-term risk: Estimates 10% FY26 order inflow impact and 11–12% FY27–28 earnings drag if disruption extends three months. 2. SENSEX Index Rebalance Preview: Sector Balance Could See Hindalco Replace Trent With the review period nearly complete, there could be one change for the S&P BSE SENSEX Index (SENSEX INDEX) at the June rebalance.

In this briefing: SENSEX Index Rebalance Preview: Sector Balance Could See Hindalco Replace Trent Industrials (Q4FY26 Results Preview): Domestic recovery, geopolitical headwinds Leveraged Financials: Risk Premium on the Rise, Flight to Safety Vishal Mega Mart (Initiating Coverage): A well-diversified value retail play Autos (Q4FY26 Results Preview): Near-term outlook challenging for auto sector 1. SENSEX Index Rebalance Preview: Sector Balance Could See Hindalco Replace Trent With the review period nearly complete, there could be one change for the S&P BSE SENSEX Index (SENSEX INDEX) at the June rebalance. Trent Ltd (TRENT IN) drops into deletion zone, while Shriram Finance (SHFL IN) and Hindalco Industries (HNDL IN) are the highest ranked non-constituents outside direct inclusion zone. Despite having a lower average free float market cap, Hindalco Industries (HNDL IN) could be added to the index ahead of Shriram Finance (SHFL IN) to maintain sector balance. 2. Industrials (Q4FY26 Results Preview): Domestic recovery, geopolitical headwinds NHAI awarding picks up pace, but subpar: In FY26, we saw some pick-up in awards but much lower than expectation at ~2,100km vs 4,500km target This resulted in players like GR and KNR winning few projects but not enough to meet guidance For our road coverage universe, awards win has been around 50% of the guidance Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only.

Amid growing rifts over governance and board appointments at Tata Trusts, top Tata executives met Home Minister Amit Shah and Finance Minister Nirmala Sitharaman.

Topline slowdown and weakening same-store sales have led analysts to caution that sustaining its earlier growth pace will be challenging.

Analysts, however, see resistance near 25,220 amid persistent FII caution.

The analyst flagged NBCC, V2 Retail, and Trent as strong setups this festive season.

The analyst said near-term margin pressure and a lack of breakout volume keep the stock in a consolidation phase.