VOLTAS.NSE

Voltas Ltd.

In this briefing: How Middle East Conflict Outting Pressure on Indian Airlines: Indigo, Air India, Spicejet and Akasa Exencial Industry Tidings - 06-03-2026 Aequitas: Lohia Corp Pre-IPO- Strengthening Global Presence Amid Cyclical Pressures JK Cement: Industry-Leading Growth to Continue. Maintain BUY AC Industry Turnaround: Riding The Great Indian Cooling Boom from El Niño to GST Cuts 1. How Middle East Conflict Outting Pressure on Indian Airlines: Indigo, Air India, Spicejet and Akasa Regional conflict involving the US, Israel, and Iran has triggered unprecedented airspace closures across West Asia, forcing Indian carriers to cancel hundreds of flights and ground widebody fleets. IndiGo faces a 19-20% total capacity hit; Air India faces 40%-plus disruption. With ATF forming 35-45% of costs, any crude spike compounds direct revenue losses. The near-term pain is real but manageable for IndiGo, whose long-term thesis stays intact. SpiceJet, burdened by wet-lease obligations and a thin balance sheet, faces a structurally more dangerous squeeze. 2.

In this briefing: Exencial Industry Tidings - 06-03-2026 Aequitas: Lohia Corp Pre-IPO- Strengthening Global Presence Amid Cyclical Pressures JK Cement: Industry-Leading Growth to Continue. Maintain BUY AC Industry Turnaround: Riding The Great Indian Cooling Boom from El Niño to GST Cuts Why Have Indian Sugar Stocks Rallied Against the Market, and What Lies Ahead? 1. Exencial Industry Tidings - 06-03-2026 Petroleum coke supply to India at risk amid Strait of Hormuz tensions Cement industry to report yet another quarter of double-digit growth in revenues India faces higher LNG costs amid Strait of Hormuz tensions 2. Aequitas: Lohia Corp Pre-IPO- Strengthening Global Presence Amid Cyclical Pressures Lohia Corp (LC) is looking to raise about US$183m in its upcoming India IPO. Lohia Corp is a manufacturer of machinery and equipment used in the production of technical textile. LC is a market leader in India’s Raffia machinery industry, with a 40.7% domestic market share by value and 15.4% share among global players, providing end-to-end manufacturing solutions.

In this briefing: JK Cement: Industry-Leading Growth to Continue. Maintain BUY AC Industry Turnaround: Riding The Great Indian Cooling Boom from El Niño to GST Cuts Why Have Indian Sugar Stocks Rallied Against the Market, and What Lies Ahead? Primer: Linde India Ltd (LIIL IN) - Mar 2026 Exencial Industry Tidings 05-03-2026 1. JK Cement: Industry-Leading Growth to Continue. Maintain BUY We maintain BUY on JK Cement (JKCE), with an unchanged target price of INR 6,495/share (15x FY28E consolidated EBITDA) As per our recent interaction with the management, JKCE remains on a solid footing in Q4FY26 The company is confident of delivering 10%+ YoY volume growth in Q4, led by healthy demand and timely commissioning of its central/eastern capacities Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below. 2. AC Industry Turnaround: Riding The Great Indian Cooling Boom from El Niño to GST Cuts We are structurally bullish on AC Industry given massive under-penetration at 8% , though FY25 suffered volume pressures from unseasonal extended monsoons and deferred consumer purchasing behavior A 10% GST reduction and El Niño heatwaves will drive recovery; notably, Voltas Ltd (VOLT IN) reported 11% january volume growth after 9 declining months.

In this briefing: Primer: Lineage (LINE US) - Mar 2026 Primer: Four Corners Property Trust (FCPT US) - Mar 2026 Primer: Natl Health Investors (NHI US) - Mar 2026 Primer: Essential Properties Realty (EPRT US) - Mar 2026 AC Industry Turnaround: Riding The Great Indian Cooling Boom from El Niño to GST Cuts 1. Primer: Lineage (LINE US) - Mar 2026 Lineage is the world's largest temperature-controlled warehousing and logistics provider, operating a vast global network of over 450 facilities. This scale provides a significant competitive advantage in a fragmented industry. The company's growth has been fueled by a prolific 'buy and build' strategy, involving over 100 acquisitions to expand its geographic footprint and service capabilities. This aggressive expansion is supported by substantial capital raises from private investors. Despite consistent revenue, the company has a history of GAAP net losses, reflecting high operating costs, margin pressures, and significant investment in technology and expansion.