Stock Market Live, May 27: Sensex trades in narrow range, Nifty below 24,000; metal stocks shine

BrainBees Options (Reco: Purchase, FV: Rs. 350) – A number of headwinds influence India enterprise efficiency

Firstcry reported in-line income progress of 12.0% yoy in 4Q pushed by (1) 11.4% yoy progress in India multi-channel enterprise, (2) 9.5% yoy progress in worldwide and (3) 15% yoy progress in GlobalBees. India EBITDA margin contracted by 202 bps yoy to 7.3% on RM worth inflation, greater discounting in addition to investments into fast commerce. We trim margin estimates for the India enterprise. The earnings cuts and roll-forward to June 2028 drive a revised SoTP-based FV of Rs350 (Rs430 earlier). There’s worth in the inventory although near-term headwinds persist.

Jubilant Ingrevia (Reco: Purchase, FV: Rs. 940) – A lot improved outcomes, higher nonetheless lies forward

Jubilant Ingrevia (JIL) reported considerably improved outcomes for 4QFY26, aided by a pickup throughout segments—notably Specialty Chemical compounds. Administration guides to twenty%+ EBITDA progress in FY2027, with sequential enchancment each quarter beginning 1QFY27, pushed by execution of the Rs15 bn order e book. We elevate EPS by 3-5% and revise our SoTP-based Truthful Worth, rolled ahead to June 2027E, to Rs940 (from Rs880). Retain BUY.

Aditya Birla Trend & Retail (Reco: Cut back, FV: Rs. 65) – Money move state of affairs stays regarding

ABFRL posted income progress of 16% yoy, with the income of Pantaloons rising by 19% yoy and different enterprise (ethnic + TMRW + others) by 12.2% yoy. EBITDA of Rs2.0 bn implied margin of 9.9%, a contraction of 200 bps yoy (word the bottom quarter there was a tailwind from optimistic inter-segment EBITDA). ABFRL consumed money of Rs14.4 bn in FY2026 and slipped to web debt of Rs1.5 bn as of March 2026. It should deal with profitability from core companies and rein in losses of newer companies to maintain debt below verify. We retain REDUCE, with an SoTP-based FV of Rs65 (beforehand Rs70).

TCS (Reco: Purchase, FV: Rs. 3100) – TCS AR evaluation—on path towards AI-led transformation

TCS’ annual report detailed the corporate technique to profit from a big alternative, arising from enterprise AI adoption. Full-stack play from infrastructure to intelligence is a key differentiator. Different key insights embrace (1) a ramp-down in its prime account drives one more sharp income decline in TCS e-Serve Worldwide, (2) cheap progress in Diligenta, regardless of the absence of mega offers, (3) the transition underway in the Postbank engagement drove a decline in TCS Expertise Options GmbH—new initiatives partly offset the influence and (4) a steep premium was paid for the Coastal Cloud acquisition at 26X EV/EBITDA CY2025. We word that almost all client-specific points impacting enterprise efficiency at the moment are behind and it’s now well-placed to converge income progress with friends. Preserve BUY.

CEAT (Reco: Cut back, FV: Rs. 3350) – Takeaways from investor meet

CEAT highlighted its goal of (1) sustained management in the 2W and 4W aftermarket segments by FY2031E, (2) scaling up industrial radials and lifting worldwide saliency to 33% of revenues and (3) phased integration of the Camso portfolio, with full model switch by September 2028. We preserve our estimates and count on home quantity progress to reasonable to 5-7% yoy in FY2027E, as sharper pricing in the substitute market will weigh on total progress. RM headwinds will weigh on the near-term. Moreover, draw back dangers pertaining to the Camso acquisition persist. REDUCE stays.

KEC Worldwide (Reco: Cut back, FV: Rs. 510) – Investor day: T&D robust; near-term headwinds persist

KEC reiterated its FY2027 steering of 12-15% topline progress and Rs300 bn order consumption. Administration stays assured about progress, led by a Rs400 bn order e book and strong order pipeline of Rs1.8 tn over the subsequent 3-4 months. On profitability, administration has kept away from giving steering because of the provide chain disruption led by the West Asia battle, which impacted execution and elevated prices; it is going to seemingly present a full-year margin steering after 1QFY27. Since commentary was in line with 4QFY26 earnings name, we proceed with current estimates and FV of Rs510. Retain REDUCE.

Diversified Financials (Sector View: Engaging)- Fastening belts

The rise in bond yields and coverage charges will elevate NBFCs’ borrowing prices. Whereas the incremental price of funds for many gamers is probably going up 30-50 bps since February 2026, the typical price of funds advantages from a excessive base impact in the close to time period. NIM stress, extra seen in 2HFY27E, will seemingly replicate the influence of rising bond yields and any coverage fee hikes, partially offset by the altering enterprise combine and any seemingly moderation in aggressive depth. On a optimistic word, NCD redemption is predicted to be low (2-4%) in FY2027E and better in FY2028E.

Actual Property (Sector View: Engaging) – Document occupancy ranges, hazy outlook

Business actual property in prime Indian cities noticed some moderation in 4QFY26, with web absorption of 10.1 mn sq. ft (+5% yoy), though it nonetheless exceeded new provide of 4.4 mn sq. ft (-56% yoy), resulting in traditionally low emptiness ranges of 11.5% (-227 bps yoy). GCCs and versatile workplace operators proceed to drive demand even because the share of know-how providers continues to say no. Market leases proceed rising and occupancy ranges throughout REITs have crossed the 90% mark with most REITs focusing on 93-94% occupancy by the top of FY2027. Massive acquisitions coupled with a powerful building pipeline may proceed to assist double-digit earnings progress, though robust worth efficiency have led to a drop in distribution yields (5.5-7% on FY2027E).