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This category will talk of the news of the day and our analysis of the event.

Wipro Posts Strong Q1 Results: Rs 3,336 Cr Profit; Dividend Declared

India’s fourth-largest IT company, Wipro, released its Q1FY26 results on July 17 after market hours. 

Despite challenging global conditions and sectoral headwinds, the Bengaluru-based IT major reported a consolidated net profit of ₹3,336 crore for the quarter ending June 2025. This reflects a 10% year-on-year (YoY) growth, coming in above street estimates. 

Revenue Performance

Wipro’s Q1FY26 revenue performance reflected a stable yet cautious growth trajectory, striking a balance between market pressures and operational resilience. The company reported steady results in rupee terms while its constant currency performance revealed the impact of global challenges.

Key highlights of Wipro’s Q1 revenue performance:

  • Total Revenue (Rupee Terms): ₹22,134 crore
    Up from ₹21,964 crore in Q1FY25, exceeding analyst estimates of ₹21,829 crore.
  • Total Revenue (Constant Currency Terms): $2,590 million
    Down 2% QoQ and 2.3% YoY but still ahead of market projections.
  • IT Services Segment Revenue: $2,587.4 million
    Down 0.3% sequentially and 1.5% YoY.
  • Gross Revenue: ₹22,130 crore ($2,581.6 million)
    Decreased 1.6% QoQ but increased 0.8% YoY.

The management pointed out that softness in discretionary spending, particularly in Europe, along with geopolitical uncertainties, contributed to a sequential decline in revenue. 

However, the company’s diversified sector presence provided a partial cushioning, with stable revenue flow from banking, energy, and healthcare clients.

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Source: Wipro Q1 Results

Despite the challenges, Wipro’s performance exceeded market expectations in rupee terms, indicating effective management of existing contracts and steady execution of large deals.

Profitability and Margins

Wipro’s profitability metrics showed strength and stability, supported by disciplined cost management and operational efficiencies. The company posted a net profit of ₹3,336 crore in Q1FY26, representing a 10% YoY growth, above analyst estimates.

Key profitability indicators:

  • Net Profit: ₹3,33 crore
    10% YoY growth, but 7% decline sequentially.
  • EBIT Margin: 17.3%
    Expanded by 80 basis points YoY, supported by operational efficiencies.
  • Operating Cash Flows: ₹4,110 crore ($479.6 million)
    Up 9.8% QoQ and 2.9% YoY; representing 123.2% of net income.
  • Sequential Net Income Decline: 6.7%
    Attributed to revenue softness and cautious client budgets.

Management highlighted that despite the sequential decline in net profit, the company successfully expanded margins and maintained strong cash flows. This was achieved through strict resource utilization, cost control measures, and prioritizing high-margin services.

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Source: Wipro Q1 Results

Total Bookings and Deal Wins

Despite revenue pressures, Wipro reported a significant improvement in its total bookings and large deal wins:

  • Total Contract Value (TCV) reached $4,971 million in Q1FY26, showing a 24.1% QoQ increase and a robust 50.7% YoY growth.
  • Large deal bookings came in at $2,666 million, marking a 49.7% QoQ rise and a massive 130.8% YoY surge. This is a clear indicator of Wipro’s continued traction in securing big-ticket, long-term projects.

Srini Pallia, CEO and Managing Director, highlighted that Wipro signed 16 large deals during the quarter, including two mega deals. He noted that the focus from clients remained on efficiency and cost optimisation.
Source: Wipro Q1 Results

Dividend Announcement

Alongside the Q1FY26 results, Wipro announced an interim dividend of ₹5 per equity share of ₹2 each. The record date has been set for July 28, 2025, and the dividend payment is expected on or before August 15, 2025.

This move underlines the company’s continued commitment to shareholder returns even amidst a challenging business environment.

Guidance for Q2FY26

Looking ahead, Wipro has provided a cautious guidance for the second quarter:

  • The company expects revenue from its IT Services segment to range between $2,560 million and $2,612 million, implying a sequential growth of -1.0% to 1.0% in constant currency terms.

This guidance reflects the company’s view of continued market volatility and client budget constraints.

Hiring Plans and Attrition Trends

Wipro also shared updates on its hiring and workforce management strategy:

  • The company plans to hire 10,000 freshers in FY26, though the hiring will be largely demand-driven.
  • According to Chief Human Resources Officer Saurabh Govil, Wipro has sufficient bench strength but will continue to engage with campuses to build its talent pool.
  • Voluntary attrition remained stable at around 15.1% over the trailing 12-month period, consistent with the past three quarters. However, certain skill areas continue to witness elevated attrition levels.

Source: The Hindu

Focus Areas and AI Push

Srini Pallia emphasised that AI and data modernisation have become central to Wipro’s client engagements:

  • The company has developed over 200 AI agents in collaboration with hyperscalers.
  • These AI solutions are deployed across sectors such as banking, energy, manufacturing, technology, and healthcare, delivering measurable outcomes in HR, finance, legal, and project delivery functions.
  • Wipro’s AI capabilities are expected to help maintain competitiveness and create new revenue streams, particularly as clients move from experimental pilots to scaled AI deployments.

Source: The Hindu

Geopolitical and Sectoral Trends

Management acknowledged ongoing geopolitical uncertainties and tariff issues, particularly in Europe. However, the BFSI segment showed a strong pipeline, while retail, CPG, technology, and telecom sectors exhibited varying degrees of softness.

Vendor consolidation and cost optimisation remained key client priorities. Nevertheless, Wipro’s leadership expressed cautious optimism, citing its healthy pipeline of large transformational deals and AI-powered consulting offerings as growth enablers for the second half of FY26.

Conclusion

While Wipro’s Q1FY26 results present a mixed picture with revenue softness and sequential profit decline, the company’s strong YoY profit growth, significant deal wins, stable margins, and focus on AI solutions reflect resilience. 

The interim dividend announcement and robust bookings offer positive signals for investors, while the cautious Q2 guidance highlights the challenges ahead.

Overall, Wipro’s strategy of focusing on operational efficiency, large deals, and AI-powered transformations appears to be keeping it relatively stable amid a tough global IT services environment.

Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. This article is for education purposes only and shall not be considered as a recommendation or investment advice by Equentis – Research & Ranking. We will not be liable for any losses that may occur. Investments in the securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL & the certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.

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Angel One Share Price: Will the Growth Story Continue After Weak Q1 Results?

Angel One has built a compelling growth story in India’s broking space.

With a strong growth in new demat accounts and a solid rise in its net profit and revenue, the numbers speak for themselves. The company has also maintained return ratios of over 40% for consecutive years – an impressive feat in a highly competitive industry.

Few players in India’s broking landscape can match this blend of scale, profitability, and consistency.

By staying focused on client-centric innovation and technology-first solutions, Angel One has carved out a leading position in India’s fast-evolving financial ecosystem.

Today, shares of Angel One were in focus following the release of its quarterly earnings for June 2025.

Let’s look at the company’s profile, latest results, and examine whether the company will be able to continue its growth trajectory.

About Angel One

Angel One has a diversified business profile that spans across multiple segments of financial services. Currently, the brokerage business makes up for most of its revenue, followed by interest income.

Angel One Revenue Mix

To diversify its income, the company has ventured into other businesses. The company has nine businesses.

Business UnitFunction
Angel SecuritiesBroking
Angel CrestBroking
Angel Financial AdvisorsDistribution of Insurance Products
Angel AMCAsset Management Company
Angel One TrusteeTrustee company for AMC business
Angel One Wealth ManagementWealth Management Services
Angel FincapNon-Banking Financial Company (NBFC)
Mimansa Software SystemsSoftware and technology-related services
Angel DigitechBusiness support services

Angel One Q1 Results

In the June 2025 quarter, Angel One’s revenue declined by 19%. This drop was driven by multiple factors—new F&O regulations, weak market sentiment which impacted trading volumes, and new compliance norms that affected the company’s other income streams. 

Broking revenue alone saw a sharp 23% fall.

The company’s operating performance was also under pressure. Operating costs rose by 23%, with ₹1.1 billion spent solely on IPL-related expenses.

Overall, it was a tough quarter for Angel One. However, the company’s new initiatives showed strong traction.

Its wealth management business performed well, with the client base crossing 1,000.

Credit disbursements saw a massive 123% jump, and with new lending partners like KreditBee, further growth is expected.

Even the mutual fund distribution business expanded, with AUM rising from ₹111 billion in March 2025 to ₹138 billion now.

A table with numbers and a red and blue box AI-generated content may be incorrect.

Angel One Market Share

Angel One retained healthy market share across segments with 19.7% in option premium-based equity, 21.0% in F&O, 18.0% in cash, and 57.0% in commodities.

Angel One Market Share Trends

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Source: Investor Presentation

The company also has some very impressive numbers when it comes to share in India’s incremental demat accounts, average daily turnover and active client base.

Overall, as of FY25, Angel One had a 16.1% market share in demat accounts.

A screenshot of a graph AI-generated content may be incorrect.

What Next?

Angel One’s business has grown dramatically over the last three years on the back of an increase in retail investor participation in the stock market.

Consistent Net Revenue From Every Cohort

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Source: Investor Presentation

Angel One’s blitz marketing campaigns have allowed the company to grow exponentially over the past 5 years. 

Given that Angel One’s primary target market belongs to the young demographic profile from smaller cities, with a keen interest in investing in the share markets, the company does have a long runway of growth. 

Angel One Client Demography

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Source: Investor Presentation

However, the strong potential of significant losses in the F&O market in the event of a market crash exposes the business of Angel One to significant risk.

Moreover, Angel One is exposed to regulatory risk as capital markets are highly regulated. The market regulator keeps changing or introducing regulations with the objective of further enhancing the transparency levels and limiting the misuse of funds.

It also faces intense competition in the brokerage industry, especially with the rise of 100% digital and zero brokerage firms, leading to competitive brokerage rates across the sector. It faces competition from Zerodha, Groww, Upstox and ICICI Securities.

Conclusion

Angel One continues to be a dominant force in India’s stockbroking space and a growing foothold in wealth management and mutual fund distribution.

Despite a challenging quarter marked by revenue pressure and rising costs, the company’s underlying growth engines remain intact and are gaining traction.

However, headwinds like rising competition, regulatory uncertainty, and reliance on F&O volumes are key risks to watch.

Going forward, Angel One’s ability to balance growth with compliance, innovation with cost control, and scale with customer trust will determine how strongly it navigates this evolving landscape.

Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. This article is for education purposes only and shall not be considered as a recommendation or investment advice by Equentis – Research & Ranking. We will not be liable for any losses that may occur. Investments in the securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL & the certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.

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Explained: Why Ixigo Share Price is Rising

India’s travel story is back and it’s booming big time.

After years of restrictions, revenge travel has turned into routine travel. Young Indians are prioritizing experiences over expenses, flights are packed, and hotel bookings are surging.

Rising disposable incomes and flexible work lifestyles are only adding fuel to this trend.

Even the Indian government is playing its part. It’s pumping capital into infrastructure and working with states to upgrade top tourist destinations. It’s a nationwide push to make India travel-ready again.

And right at the center of this boom… is Ixigo. A travel tech platform that’s not just riding the wave, but helping create it.

Today, the share price of Ixigo rallied 20% in a single trading session.

Ixigo Share Price

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Let’s find out what’s driving the surge and whether the momentum will continue. But first, let’s understand what Ixigo does.

About Le Travenues Technology – the Parent Company of Ixigo

Founded in 2006, Ixigo is India’s largest travel platform, and is an online travel agency (OTA) that allows users to book train, flight, bus tickets, hotels and holiday packages.

Ixigo Travel Platforms

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The company ranks as India’s largest OTA by user count and the second largest in terms of total reported gross transaction value (GTV).

It provides train, flight, bus, and hotel booking services and has a 51% market share in railway ticket bookings. Additionally, it is India’s second-largest bus-ticketing OTA, operating through AbhiBus.

Ixigo Revenue Mix – FY25 Revenue Rs 914 Crore

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Source: Investor Presentation

Why Ixigo Share Price is Rising

In early trade today, shares of Le Travenues Technology, the parent company of travel aggregator Ixigo surged as much as 11% after it posted strong earnings for the quarter ended June 2025.

The rally gained steam as the session progressed and by the end of the day, the stock was locked in the 20% upper circuit.

For the quarter ended June 2025, Ixigo’s revenue surged by 73% led by a growth in newer verticals, and a strong performance from its flights and buses business.

The company’s flight business revenue increased by 148% from last year while bus business revenue almost doubled compared to the year ago period.

Its train business also saw decent traction with a 29% YoY revenue growth.

A screenshot of a graph AI-generated content may be incorrect.

During the quarter, its gross transaction value (GVT) showed a strong 55% growth from last year.

As a result, its operating profit surged by 53.4% while net profit also grew by 28% YoY.

Financial Snapshot

Travel companies mainly earn their revenue from commissions. By monitoring that, we can analyse whether the company is able to do more business than it did in previous years.

In terms of revenue growth, Ixigo has outpaced its industry peers. In the last five years, the company’s revenue has grown at a CAGR of 52%, whereas its net profit has grown at a CAGR of 49% during the same time.

This growth is primarily because the company has a diversified business model, and has leveraged AI to create an established presence for itself.

Ixigo even repaid all its debt in the financial year 2022, and has undertaken a significant capex planned through the funds it raised via IPO (initial public offering).

Ixigo Financial Snapshot – FY21-FY25

Particulars (Rs Cr.)FY21FY22FY23FY24FY25
Revenue136380501656914
EBITDA3-12293872
Margins (%)2%-3%6%6%8%
Net Profit8-21237360

Source: Screener, Company Reports

What Next?

Looking ahead, Ixigo is gearing up to raise ₹750 crore to accelerate its next phase of growth—both organically and via strategic acquisitions.

It has been doubling down on emerging technologies like AI and machine learning to sharpen user experience and stay ahead of the curve.

These tech-first investments have already powered its rapid rise—and the company plans to keep that momentum going.

The company’s management attributed the recent growth to increasing demand from Gen Z and solo women travellers in the train and bus segments.

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Source: Investor Presentation

Ixigo is well established and has good growth plans which can help it capitalize on the growing demand for tourism. This is backed by the government’s efforts to boost tourism, good infrastructure development, the rising influence of social media, and the growing need to experience new cultures.

Overall, Ixigo’s management is optimistic about sustaining growth momentum, believing that ongoing investments in technology and product enhancements will yield significant long-term returns.

One Stop Travel Solution Provider

Source: Investor Presentation

Conclusion

With one of the highest monthly active user bases among OTA apps, Ixigo has firmly cemented its position in India’s travel tech landscape.

It commands a 51% market share in train bookings—making it the largest player in this segment—and is the second-largest bus ticketing OTA, with a 12.5% market share.

What sets Ixigo apart is its smart, tech-driven service offering—from real-time PNR predictions and seat alerts to personalised fare notifications and AI-powered customer support. It has also recently forayed into travel insurance, expanding its product suite even further.

Looking ahead, the company aims to use its IPO proceeds to invest in cloud infrastructure, scale up its tech stack, and pursue strategic acquisitions.

Backed by strong fundamentals, ambitious growth plans, and powerful macro tailwinds—like rising travel demand, government push for tourism, and a digital-first generation—Ixigo is well-positioned to ride India’s travel boom in full throttle.

That said, competition in the OTA space is fierce, and sustained success will depend on how well Ixigo continues to innovate, retain users, and maintain margins in a price-sensitive market.

Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. This article is for education purposes only and shall not be considered as a recommendation or investment advice by Equentis – Research & Ranking. We will not be liable for any losses that may occur. Investments in the securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL & the certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.

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HDFC Bank to Consider First Ever Bonus Shares. What Should Investors Expect?

HDFC Bank isn’t just another name in Indian banking — it’s a giant.

As India’s largest private sector bank by assets, and the 10th largest bank in the world by market cap, its scale speaks for itself.

The game changed even more after its merger with HDFC. The combined powerhouse is now the 7th most valuable bank globally.

Headquartered in Mumbai since 1994, HDFC Bank has earned deep trust and loyalty over the years — thanks to its strong brand, customer-first approach, and relentless focus on innovation.

From retail banking to corporate solutions, and from net banking to mobile banking — HDFC Bank offers a full suite of financial services that cater to individuals and businesses alike.

Today, the company surprised investors by announcing that its board will consider a bonus shares issue and special dividend in its board meeting on Saturday, 19 July 2025.

Investors reacted positively and the stock price climbed 1% in early trade. In fact, the stock is trading at its 52-week high.

HDFC Bank – 1 Year Share Price

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Let’s understand the implications of the upcoming bonus shares, and how it could impact your investments.

Upcoming Board Meeting

HDFC Bank always declares its results on an off-trading day, usually Saturday.

India’s largest private sector lender today announced that its board will consider issuing bonus shares and a special interim dividend for FY26 during the upcoming meeting on July 19.

The board meeting, originally scheduled to consider and approve the unaudited standalone and consolidated financial results for the quarter ended June 30, 2025, will now also deliberate on bonus shares and special dividend proposal.

The last time HDFC Bank declared a special dividend was in August 2019 when the board had approved Rs 5 per share as dividend. HDFC is a true dividend paymaster, and barring the pandemic year, has never missed paying a dividend each year.

HDFC Bank’s Rich Dividend History

YearDividend Per Share (Rs)
FY2522.0
FY2419.5
FY2319.0
FY2215.5
FY216.5
FY1920.0
FY1813.0
FY1711.0
FY169.5
FY158.0
FY146.9

Source: BSE

Moreover, if this bonus proposal is approved, this will be the first instance where HDFC Bank will give away bonus shares.

In its 38-year history, HDFC Bank has never declared a bonus share—only stock splits in 2011, and 2019.

Unlike stock splits (e.g., the 5:1 split in 2011 or 1:1 in 2019), bonus shares directly increase liquidity and democratize ownership. 

With over 3.6 million retail shareholders holding 10.3% equity, a bonus issue could make the stock more affordable, attracting small investors and boosting retail participation.

Overall, this dual move of special dividend and bonus, announced ahead of its July 19 board meeting, signals a bold strategy to enhance shareholder value and strengthen its market position.

HDFC Bank Q1 Update

Along with the bonus proposal, the key focus would be on HDFC Bank’s results.

Earlier this month, the bank shared its update for Q1 wherein its average gross advances saw a growth of around 6.7% during the quarter.

Meanwhile, HDFC Bank’s deposits increased by 16.2% YoY.

The bank’s CASA deposits jumped 8.5% in the June 2025 quarter. CASA deposits are a crucial source of funding for banks, as they are relatively low-cost compared to other deposit types like fixed deposits.

HDFC Bank Q1FY26 Business Updates

ParticularsQ1FY25Q4FY25Q1FY26QoQ %YoY%
Gross Advances24,86,90026,43,50026,53,0000.36%6.68%
CASA (In Crores)8,63,6009,44,6009,37,000-0.80%8.50%
Time deposits (In Crores)15,15,40017,70,20018,27,0003.21%20.56%
Total Deposits (In Crores)23,79,00027,14,30027,64,0001.81%16.18%
CASA Ratio %36%35%34%-2.57%-6.61%

Source: Company Filings

Based on the steady growth in advances and deposits, investors are expecting HDFC Bank to report a decent rise in both net interest income and overall profit for the quarter.

As of FY25, the bank’s loan book was Rs 26.4 lakh crore.

Loan Book Breakup (FY25 Loan Book Rs 26.4 Lakh Crore)

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Source: Company Reports

Conclusion

Going ahead, HDFC Bank expects to grow at market rate and the focus remains on gaining market share in deposits to enable loan growth.

Overall, HDFC Bank remains in a sweet spot due to its domestic focus, strong asset quality, and a broad customer base across retail and corporate segments. 

Overall, the bank’s move to announce special dividend and bonus shares signals a bold strategy to enhance shareholder value and strengthen its market position.

Happy Investing.

Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. This article is for education purposes only and shall not be considered as a recommendation or investment advice by Equentis – Research & Ranking. We will not be liable for any losses that may occur. Investments in the securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL & the certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.

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Tesla’s Grand Entry into India: Paving the Way for an Electric Future

Tesla, the global leader in electric vehicle (EV) innovation, has officially entered the Indian market with the launch of its first showroom in Mumbai’s Bandra Kurla Complex (BKC). 

Spread across 4,000 square feet in the upscale Maker Maxity Mall, the showroom showcases two Model Y SUVs, giving visitors a premium experience of Tesla’s cutting-edge technology and sustainable mobility.

Tesla is already preparing for long-term growth by planning an EV charging infrastructure rollout and a second showroom in Delhi. These moves signal Tesla’s commitment to tapping into India’s rapidly growing EV ecosystem.

Here are the key highlights regarding Tesla’s India model launch:

  • Model Y Introduced: The initial focus is on the Model Y, with two variants currently displayed at the showroom.
  • Pricing: The Model Y starts at Rs 61 lakh (on-road). The rear-wheel drive (RWD) variant is priced at Rs 59.89 lakh, and the long-range rear-wheel drive (LR RWD) variant at Rs 67.89 lakh.
  • Import Challenges: High import duties (70-110%) significantly increase the vehicle’s price compared to global markets.
  • Regulatory Approval: Tesla received formal approval from Mumbai’s Andheri RTO on July 11, allowing sales, showcases, and test drives.
  • Government Collaboration: Entry aligns with India’s new EV policy offering reduced import duties and follows discussions between PM Modi and Elon Musk.
  • Future Deliveries: Customer deliveries are anticipated to begin after September 2025.
  • Infrastructure Plans: Tesla plans to establish V4 Supercharging infrastructure and open a second showroom in Delhi.
  • Manufacturing Status: Currently, cars are imported from Tesla’s Shanghai factory, with no immediate plans for local manufacturing in India confirmed.

Global EV Market Set for Strong Growth

Before exploring Tesla’s models and pricing in India, let’s first take a look at the global electric vehicle (EV) market and understand how India plans to tap into this growing sector.

The global EV market is expected to generate an impressive $784.2 billion in revenue by 2025. Between 2025 and 2029, the EV market is projected to grow at a steady compound annual growth rate (CAGR) of 6.01%, reaching a total market size of around US$990.4 billion by 2029. 

By 2029, the number of EVs sold worldwide is expected to hit 17.36 million units, reflecting the strong demand and global shift toward cleaner transportation.

Source: Statista

India’s EV Market on the Rise

India has set ambitious targets to boost EV adoption across various segments by 2030. The government aims for 30% of private cars, 70% of commercial vehicles, 40% of buses, and 80% of two- and three-wheelers to be electric by the end of the decade.

If these goals are met, an estimated 80 million EVs could be on Indian roads by 2030, opening up a massive opportunity for manufacturers, battery makers, and related suppliers.

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Source: IBEF.org

Tesla’s official entry into India is set to influence and shape the country’s growing EV market. Though it may not directly compete with mass-market brands like Tata Motors and Mahindra right away due to its higher prices, Tesla’s presence is still expected to create major changes.

Which Tesla Cars Will Be Available in India?

For now, Tesla plans to sell only one model in the Indian market, the Tesla Model Y. According to a report by Carwale, six units of the Model Y SUV have already been shipped from Tesla’s Shanghai plant to Mumbai. These vehicles will be used for display and demonstration purposes at the company’s new showroom.

A Reuters report revealed that Tesla has imported vehicles, chargers, and accessories worth nearly $1 million, primarily from China and the United States.

Interestingly, Tesla’s most affordable model, the Model 3, will also be showcased but is expected to officially launch in India sometime later in 2025.

Source: LiveMint

Decoding the Model Y for India

Tesla has launched the Model Y in India with a premium but competitive price tag. The on-road price starts at around ₹61 lakh, positioning it as a luxury electric vehicle. The rear-wheel drive (RWD) version is priced at ₹59.89 lakh, making it the more affordable option for those looking to enter the Tesla ecosystem.

For buyers seeking better range, the long-range RWD variant comes at ₹67.89 lakh. These prices reflect Tesla’s premium branding and the advanced technology in its vehicles. The company is targeting early adopters and eco-conscious buyers who are ready to invest in high-end, sustainable mobility.

Source: TimesofIndia

The Challenge of Import Duties

One of the biggest challenges Tesla faces in India is the country’s high import duties on fully built cars. These tariffs range from 70% to 110%, which can double the car’s price compared to what it costs in the US. The policy aims to promote local manufacturing, but it also makes Tesla’s vehicles much more expensive for Indian buyers.

Source: TimesofIndia

Tesla’s Entry Aligned with India’s EV Vision

Tesla’s launch in India isn’t just a business move—it reflects changing government policies and growing collaboration. The company’s entry aligns with India’s new EV policy, which offers reduced import duties and incentives to attract global EV makers. This shift highlights India’s goal to become a major hub for electric vehicle manufacturing.

High-level discussions between Prime Minister Narendra Modi and Tesla CEO Elon Musk in February and April played a key role in making this possible. These meetings helped explore partnerships, resolve concerns, and build a supportive environment for Tesla’s operations in India.

Source: TimesofIndia

Bookings Begin, Deliveries in Late 2025

Tesla has opened bookings for its vehicles in India, but deliveries will begin only after September 2025. This gives the company time to complete regulatory approvals, streamline logistics, and build a solid after-sales support system. Having a reliable service network and spare parts availability will be crucial to win customer trust.

Charging Network Rollout in Progress

Tesla also plans to expand India’s charging infrastructure. It will install its advanced V4 Superchargers, known for ultra-fast charging, to address range anxiety and support long-distance travel. A strong charging network will be key to driving mass EV adoption across the country.

After Mumbai, Tesla’s next showroom is set to open in Delhi, targeting another major metro with high purchasing power and growing interest in sustainable transport. This move signals Tesla’s city-focused strategy, starting with urban centers.

Current Supply from China, No Local Manufacturing Yet

At present, the Model Y units displayed in India are imported from Tesla’s Shanghai factory. While there’s excitement around Tesla’s entry, the government has clarified that there are no immediate plans for local manufacturing. For now, India will remain an import-only market, though future local production could be possible if demand grows.

Tesla’s Impact on India’s EV Market

Tesla’s entry marks a big moment for India’s EV journey. While challenges like high import duties and infrastructure needs remain, Tesla is expected to boost investment in the sector, drive innovation, and push local brands to up their game. Its focus on technology, sustainable energy, and a direct-to-customer model could set new standards in the Indian auto industry.

The timing of Tesla’s entry is crucial, as it comes amid slowing global sales, positioning India as a key growth market. With rising demand for electric vehicles, supportive government policies, and increased awareness around sustainability, India offers Tesla a valuable opportunity to expand its footprint.

By focusing on major metro cities and popular models, the brand is set to play a significant role in accelerating the country’s shift towards clean and luxury mobility.

Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. This article is for education purposes only and shall not be considered as a recommendation or investment advice by Equentis – Research & Ranking. We will not be liable for any losses that may occur. Investments in the securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL & the certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.

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HCL Tech Q1 Result Analysis: 5 Things You Need to Know 

The Indian IT sector has seen a mixed performance in recent quarters.

Global economic uncertainty has led many clients to cut back on non-essential tech spending.

At the same time, digital transformation remains a top priority.

Although deal activity has slowed, leading IT firms continue to see steady demand in areas like cloud computing, artificial intelligence (AI), and infrastructure services.

With early signs of a global IT recovery on the horizon, investor interest is shifting back to top-tier tech stocks. And among them, HCL Technologies is drawing attention.

As one of India’s top four IT exporters, HCL Tech has a strong presence in engineering, digital, and enterprise IT services. It also enjoys a stable global client base and continues to sharpen its focus on high-margin business areas.

The company recently posted its Q1 earnings. Let’s take a detailed look at the numbers and understand how the IT major is placed for the coming quarters.

About HCL Technologies

HCL Technologies has undergone a significant transformation over the last few years. The company has shifted its strategy from offering traditional services to focusing on digital solutions by leveraging technologies like cloud analytics, the Internet of Things (IoT) and cybersecurity to support enterprises in transforming themselves digitally.

The company’s key business segments include IT & Business Services (cloud transformation, apps and data modernisation, digital operations), Engineering R&D services (product engineering) and Products and Platforms.

HCL Tech Q1 Results

On 14 July 2025 post market hours, HCL Tech posted its Q1 results for the financial year FY26. On the next day, the stock opened over 3% lower as investors reacted to its earnings.

HCL Tech Shares Fall Post Q1 Results

During the quarter, the company posted a marginal growth in its revenue on a sequential basis. 

The company’s operating margins declined due to lower utilisation, a higher share of revenue from the services segment, and the impact of a client bankruptcy.

HCL Tech Financial Snapshot

Particulars (Rs. Cr.)Q1FY25Q4FY25Q1FY26YoYQoQ
Net Sales28,05730,24630,3498.2%0.3%
EBIT4,7955,4424,9423.1%-9.2%
as % of net sales17.1%18.0%16.3%
PAT after E.O.4,2594,3093,844-9.7%-10.8%
as % of net sales15.2%14.2%12.7%

Source: Ace Equity

During the quarter, net employee additions declined, and the attrition rate also improved.

HCL Technologies Employee Metrics

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Source: Investor Presentation

Along with results, the company’s board also declared an interim dividend of Rs 12 per share. HCL Tech has constantly rewarded investors with dividends and is a dividend aristocrat.

HCL Tech’s Rich Dividend History

Year EndingDividend Per Share (Rs)
FY2110
FY2210
FY2342
FY2448
FY2552

Source: BSE, Company Reports

What Next?

HCL Tech has raised its revenue growth guidance from 2%–5% to 3%–5%, indicating confidence in strong deal wins over the coming quarters.

However, the company has lowered its operating margin guidance from 18%–19% to 17%–18%. This revision comes amid global macroeconomic uncertainty, where clients are exercising tighter control over budgets, reducing discretionary spending, and focusing more on cost optimisation.

The company also acknowledged that there could be some short-term pressure, but it believes the long-term demand environment remains stable.

Conclusion

HCL Tech has set a steady plan for FY26, backed by strong deal wins and growing demand for AI, cloud, and engineering services.

It’s also eyeing the semiconductor space, expanding into chip design and embedded software.

Partnerships with firms like Western Union and Carrix, along with GenAI-led contracts, are boosting long-term growth visibility.

Operationally, HCL continues to deliver solid cash flows, stable dividends, and better capital returns—helping build investor confidence.

Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. This article is for education purposes only and shall not be considered as a recommendation or investment advice by Equentis – Research & Ranking. We will not be liable for any losses that may occur. Investments in the securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL & the certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.

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Tata Technologies Down 40% Since Blockbuster Listing. Is a Rebound on the Cards?

Tata Technologies’ stock has turned out to be a letdown for long-term investors.

Back when the company launched its IPO in November 2023, the market response was overwhelmingly positive. The IPO was heavily oversubscribed.

And the listing?

Tata Technologies delivered a stellar debut, soaring 168% on Day 1.

However, post that initial euphoria, the stock has steadily lost momentum. In fact, it’s down over 40% since then.

Tata Technologies Share Price Since Listing

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Yesterday, the company posted its Q1 results for the current financial year FY26. The Tata group company shared some key updates which may turnaround its performance over the long run. And the markets even gave a thumbs up with a 4% rally in its stock price on 15 July 2025.

Let’s analyze Tata Tech’s Q1 results, its growth prospects and how the company plans to improve its business amid growing uncertainty.

About Tata Technologies

Tata Technologies is a global engineering and product development digital services company. It’s a subsidiary of Tata Motors, which holds close to 55% stake in it as of March 2025.

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Source: BSE

Tata Technology provides services in engineering and design, product lifecycle management, manufacturing, product development, and IT service management. Essentially, it helps clients create better products.

The company mostly focuses on automotive, aerospace, and industrial heavy machinery.

Tata Tech Revenue Breakup – FY25 Revenue Rs 5,168 Cr.

AD 4nXcSSp7ZY3xz1A IoyAkqIKPLuE2sJkzOxUK3jlJapVZ5RlxE378NkxV0W73uyG2DwSXppBMe zWIZjZoF45eNQEwImZlLOcbj xgFZCPJ8zPTa CjncwH2ZtejAw3CD3wagtUAg

Source: Investor Presentation

Tata Technologies Q1 Results

For the quarter ended June 2025, Tata Technologies reported a revenue decline of 3.2% on a sequential basis and 1.9% on a YoY basis, in-line with street estimates.

Better-than-expected performance in the technology services segment, led by education business, aided to its revenues.

However, its margins declined due to weak demand. The company’s clients in North America have been significantly impacted by tariffs and policy changes that have led to revisiting their product plans.

Tata Tech’s net profit was up 2.1 YoY, aided by significant forex gains driving to higher other income.

Financial Snapshot

Particulars (Rs. Cr.)Q1FY25Q4FY25Q1FY26YoYQoQ
Net Sales1,2691,2861,244-1.9%-3.2%
Gross Profit1,0441,0821,026-1.7%-5.2%
EBITDA231233200-13.4%-14.3%
as % of net sales18.2%18.2%16.1%
PAT after E.O.1621851652.1%-10.7%
as % of net sales12.8%14.4%13.3%

Source: Ace Equity, Company Reports

During the quarter, Tata Technologies announced six large deals – four were above $10 million and two deals in the $5-10 million range.

What Next?

In recent quarters, the business performance of Tata Tech has been impacted, due to the company’s heavy reliance on the automotive sector, which is facing global headwinds. 

Regulatory uncertainties in the US and Europe, slowing EV adoption, and cost-cutting by automakers have led to delays in R&D and engineering outsourcing, impacting the company’s growth prospects.

Nevertheless, the management is confident about the coming quarters and they have indicated that demand could grow following clarity emerging on the Tariffs front. Tata Technologies is looking to participate in new product development activities in the upcoming months.

The company’s aerospace segment is showing green shoots, where Tata Tech has a presence and is now diversifying into propulsion systems, deepening its relationship with Airbus.

Conclusion

Overall, auto demand is still a bit weak, especially among US-based carmakers, where delays are happening due to tariffs and changes in EV policies. However, Tata Tech’s key clients — Tata Motors and Jaguar Land Rover — are continuing to invest actively in new product development.

Tata Tech’s joint venture with BMW is also performing well. In this quarter, it earned a profit of ₹48 million — 35% higher than the previous quarter and contributing 5.6% to Tata Tech’s total pre-tax profits.

The management believes growth will start picking up from Q2 onwards, as the company secured six large deals in Q1. The aerospace segment also remains strong, and momentum is now spreading beyond Airbus to its supply chain vendors and propulsion system makers.

Overall, the company expects the second half of the year to be stronger, and as uncertainty reduces, the rate at which deals convert into actual business is likely to improve.

What do you think dear reader? Let us know in the comments section below.

Happy Investing.

Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. This article is for education purposes only and shall not be considered as a recommendation or investment advice by Equentis – Research & Ranking. We will not be liable for any losses that may occur. Investments in the securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL & the certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.

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VIP Industries Stake Sale: Why is Promoter Selling its 32% Holding?

It was a highly volatile trading session for luggage company VIP Industries.

The stock price fell nearly 5% in early trade on 14 July 2025 following reports suggesting company’s promoters Dilip Piramal and family signing a share purchase agreement to sell up to 32% of their stake in the firm.

As the session progressed, the stock erased all its early losses and ended over 5% higher.

VIP Industries Share Price

Let’s find out what caused such a volatile move in the counter.

Promoter Exit: VIP Industries Undergoes a Major Shift

The promoters of VIP Industries — the Dilip Piramal family — have signed an agreement to sell their 32% stake to an investor group.

Currently, Dilip Parimal and the family own 51.7% stake in VIP.

With this deal, control of the company will shift to the new investors.

Under the deal, Multiples Private Equity and its co-investors — including Mithun and Siddharth Sacheti (former promoters of CaratLane) — will acquire a 32% stake in VIP Industries.

In addition, an open offer has been announced, allowing the group to acquire up to 26% more stake, valued at approximately ₹1,437 crore.

If fully subscribed, the group’s total holding could rise to 58%.

Post-deal, Multiples PE will take over control of the company, while Dilip Piramal will continue as Chairman Emeritus.

The transition is expected to be collaborative — with the new investors bringing in capital, strategy, and retail experience to steer VIP into its next phase.

About VIP Industries

VIP Industries is India’s largest luggage manufacturer. The company is based in Mumbai, Maharashtra with over 50 years of experience of bringing innovative products with international design standards.

VIP Industries Diversified Product Portfolio

Source: Investor Presentation

The recent stake sale by its promoters is seen as a strategic reset aimed at reviving VIP’s legacy, re-energising the business, and reclaiming leadership in the luggage segment.

In recent quarters, the company has faced stiff competition — from Samsonite in the premium space and Safari Industries at the mass-market end.

VIP Industries is India’s No.1 organised luggage brand, and among the top 2 global players in the industry. A large part of its revenue comes from the Mass Premium and Premium segments.

Financial Snapshot

The last few quarters have been challenging for VIP Industries.

In FY25, the company’s revenue declined 3% YoY, and EBITDA margins fell by 480 bps to just 3.8%, pushing the company into losses for the year.

VIP faced a triple challenge:

  • Weak demand
  • Intense competition (especially from Samsonite and Safari)
  • Internal operational hurdles

Outlook

VIP Industries has undertaken a deep balance sheet and operational reset in FY25, sacrificing near-term margins and growth to address channel inventory, working capital, and cost structure. 

The company is now pivoting back to growth, with a strong focus on premiumization, channel productivity, and margin recovery. 

The company’s management is realistic about structural changes in the industry, and they expect margin improvement from Q1FY26. 

As of March 2025, VIP Industries total stores stand at 404. 

VIP Industries even reduced its debt, with borrowings coming down by Rs 118 crore in FY25, with further Rs 125 crore debt reduction targeted for FY26.

All in all, the recent stake sale by promoters to Multiples marks a major leadership shift for VIP.

With the promoters stepping down, the entry of Multiples PE and experienced partners like the founders of CaratLane brings in a fresh vision, deep retail expertise, and a sharper execution strategy.

Yes, the company’s performance in recent quarters has been weak — but VIP’s business fundamentals remain strong, and the category stands to benefit from long-term trends like rising travel demand and premiumisation.

With fresh capital, new leadership, and focused execution, this deal could well be the starting point of VIP’s turnaround.

Happy Investing.

Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. This article is for education purposes only and shall not be considered as a recommendation or investment advice by Equentis – Research & Ranking. We will not be liable for any losses that may occur. Investments in the securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL & the certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.

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Avenue Supermarts Share Price Falls Post Q1 Results. Time to Buy?

India’s retail sector isn’t just about shopping — it’s a major engine of the country’s economy. The sector powers nearly 10% of our GDP and employs millions of people.

When consumption booms, GDP flies. When it slows, the entire economy feels it.

And at the heart of India’s organised retail space is one stock market favourite: Avenue Supermarts, the company behind DMart — a name that needs no introduction to Indian households or investors.

Over the weekend, the company posted its earnings for the quarter ended June 2025.

In early trade today, Avenue Supermarts share price declined after investors digested the results and brokerages highlighted their concerns. With this fall, the stock is now down 20% in a year.

Avenue Supermarts Share Price – 1 Year

Let’s take a detailed look into its earnings for the first quarter and examine whether a rebound is on the cards.

Avenue Supermarts Q1 Results

For the quarter ended June 2025, Avenue Supermarts, which runs the Dmart value chain, reported a 16% YoY growth in its standalone revenue while its EBITDA grew 8%, missing street estimates.

The company’s management indicated that revenue growth was lower due to deflation in several categories.

The company’s gross margins came at 14.6% due to a decline in the share of higher-margin products, higher operating costs, and continued competition from the FMCG sector.

As a result, the company posted a flat net profit for the quarter under review.

During the quarter, Dmart added 9 new stores. Its annualized revenue per store

rose 2% YoY.

About Avenue Supermarts

Avenue Supermarts runs the national supermarket chain DMart — which provides value-conscious customers with home and personal use products under one roof. The company operates across three categories:

  • Foods
  • Non-Foods (FMCG)
  • General Merchandise & Apparel

Outlook for Avenue Supermarts

The muted performance by Avenue Supermarts has raised concerns about margin pressures in a competitive retail environment.

Due to rising competition from quick commerce players, and a surge in wages of entry-level positions, margins have tightened as can be seen from its numbers.

Going ahead, the pace of store additions and margin improvement will be the key monitorables.

The company plans to add 40–50 stores every year, which means there will be visibility on revenue growth.

However, keeping an eye on margins is crucial — especially in the foods and FMCG segments, where competition from quick commerce players is intensifying.

Even in the general merchandise and apparel segment, competition is gradually picking up as players like Reliance Retail and Aditya Birla Retail continue to expand their footprint.

Retail is a tough business — and even well-run companies like DMart aren’t immune to headwinds. While the company remains fundamentally strong, it currently faces challenges on both growth and margin fronts. 

Happy Investing.

Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. This article is for education purposes only and shall not be considered as a recommendation or investment advice by Equentis – Research & Ranking. We will not be liable for any losses that may occur. Investments in the securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL & the certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.

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Glenmark Pharma’s Mega Deal with AbbVie: 5 Things Investors Should Track

It’s a new era for Glenmark Pharma!

Shares of the pharma company surged over 14% today following the company’s announcement that its subsidiary Ichnos Glenmark Innovation (IGI) has signed an exclusive licensing agreement with AbbVie.

This licensing deal is for the subsidiary’s lead investigational asset – ISB 2001 – for use in oncology and autoimmune diseases.

Glenmark Share Price Performance

Licensing Deal Details

Under the agreement, AbbVie will receive exclusive rights to develop, manufacture, and commercialize ISB-2001 across key developed markets, including North America, Europe, Japan, and Greater China.

Meanwhile, Glenmark will retain the rights to develop, manufacture, and sell in emerging markets.

Glenmark’s subsidiary will receive an upfront payment of $700 million from AbbVie. Additionally, Glenmark is also eligible to earn up to $1.2 billion through achievement-based development, regulatory, and commercial milestone payments. IGI will also receive royalties on sales generated by AbbVie.

Snapshot of Licensed Deal

AspectDetails
DrugISB-2001
Developed MarketsAbbVie gets exclusive rights (North America, Europe, Japan, Greater China)
Emerging MarketsGlenmark retains rights
Upfront Payment$700 million to Glenmark’s subsidiary
Milestone PaymentsUp to $1.2 billion (development, regulatory, and commercial milestones)
RoyaltiesGlenmark to receive royalties on AbbVie’s sales

The ISB-2001 is an experimental cancer drug designed to treat multiple myeloma (a type of blood cancer) by helping the immune system attack cancer cells more effectively. 

It targets two cancer markers instead of one, making it harder for the cancer to resist treatment — and early results show it may work better than current options.

Note that this deal ranks as the fourth-largest deal in the pharma sector based on the size of the upfront payment.

Licensed Deals with Upfront Payments

Source: Motilal Oswal

About Glenmark Pharma

Glenmark Pharma is engaged in developing pharmaceutical product formulation and active pharmaceutical ingredients in regulated and semi-regulated markets. The company has several molecules in the areas of oncology, respiratory, and dermatology.

Its branded generics business has a significant presence in markets across emerging economies, including India.

Glenmark Pharma Revenue Contribution (FY25 Revenue Rs 13,322 Cr.)

Source: Investor Presentation

Financial Snapshot

For FY25, Glenmark posted a 12.8% jump in its consolidated revenues while it also turned to profit this year, following a loss in FY24 owing to declining sales in the US.

Financial Highlights

ParticularsFY24FY25Growth (%)
Revenue11,81313,32213%
EBITDA1,1952,35197%
EBITDA Margin (%)10%18%–
Net Profit-1,4341,047–

Source: Investor Presentation

Outlook

The recent deal with AbbVie is a strong boost for Glenmark. It shows confidence in their BEAT protein platform, highlights the potential of ISB-2001 in treating difficult cases of multiple myeloma, and confirms its commercial promise if trials go well. 

AbbVie’s involvement adds further credibility, given its success in launching cancer drugs like Imbruvica and Venclexta, both of which have changed how blood cancers are treated and generated billions in revenue.

Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. This article is for education purposes only and shall not be considered as a recommendation or investment advice by Equentis – Research & Ranking. We will not be liable for any losses that may occur. Investments in the securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL & the certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.

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Frequently asked questions

Get answers to the most pertinent questions on your mind now.

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What is an Investment Advisory Firm?

An investment advisory firm is a company that helps investors make decisions about buying and selling securities (like stocks) in exchange for a fee. They can advise clients directly or provide advisory reports and other publications about specific securities, such as high growth stock recommendations. Some firms use both methods, like Research & Ranking, India’s leading stock advisory company, specializing in smart investments and long-term stocks since 2015.

An investment advisory firm is a company that helps investors make decisions about buying and selling securities (like stocks) in exchange for a fee. They can advise clients directly or provide advisory reports and other publications about specific securities, such as high growth stock recommendations. Some firms use both methods, like Research & Ranking, India’s leading stock advisory company, specializing in smart investments and long-term stocks since 2015.

An investment advisory firm is a company that helps investors make decisions about buying and selling securities (like stocks) in exchange for a fee. They can advise clients directly or provide advisory reports and other publications about specific securities, such as high growth stock recommendations. Some firms use both methods, like Research & Ranking, India’s leading stock advisory company, specializing in smart investments and long-term stocks since 2015.

An investment advisory firm is a company that helps investors make decisions about buying and selling securities (like stocks) in exchange for a fee. They can advise clients directly or provide advisory reports and other publications about specific securities, such as high growth stock recommendations. Some firms use both methods, like Research & Ranking, India’s leading stock advisory company, specializing in smart investments and long-term stocks since 2015.