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-5% to -3%

Force Motors

-3% to 0%

TMCV

Ashok Leyland

SML Mahindra

0% to 3%

3% to 5%

The shares of <a href="https://www.moneycontrol.com/india/stockpricequote/engineering-industrial-equipments/ideaforgetechnology/IT07">IdeaForge Technology</a> jumped more than 12 percent to its day's high on November 17 after the company announced two order wins from the Ministry of Defence..

The shares of the company hit an intraday high of Rs 522.50 apiece on NSE on Monday, before paring some gains to close over 8 percent higher in the green at Rs 503 apiece.

IdeaForge Technology wins Rs 75-crore order:

IdeaForge Technology announced on November 14 that the company has won an order worth approximately Rs 75 crore to supply AFDS/Tactical class UAVs with accessories to Ministry of Defence. The said items are expected to be delivered within 12 months as part of the domestic order.

IdeaForge Technology wins Rs 32-crore order:

IdeaForge Technology in another exchange filing released on November 14 announced that it has received an order worth approximately Rs 32 crore to supply Hybrid UAVs with accessories to Ministry of Defence.

This domestic order is expected to be executed within 6 months.

IdeaForge Technology share price:

Despite today’s sharp gains, IdeaForge Technology shares at its day’s high were still 21 percent lower from its 52-week high of Rs 661.25 apiece, which the stock had hit in December last year. It has however recovered nearly 72 percent from its 52-week low of Rs 304.2 apiece, which it had hit in April this year.

The stock rose nearly 8 percent in the past five days, and 6.5 percent in the past one month. The shares of the drone-maker however fell nearly 12 percent in the past six months, and is down over 19 percent in 2025 so far.

Also read: <a href="https://www.moneycontrol.com/news/business/markets/dcb-bank-shares-jump-7-to-hit-fresh-52-week-high-on-analyst-upgrades-positive-outlook-13681120.html">DCB Bank shares jump 7% to hit fresh 52-week high on analyst upgrades, positive outlook </a>

Ownership, Material Conflicts of Interest and Disciplinary History

MCD is a wholly owned subsidiary of Network 18 Media & Investments Ltd ("Network18"), in which Independent Media Trust (IMT) holds 56.89% stake. Reliance Industries Limited ("RIL") is the sole beneficiary of IMT. Network18 and RIL and their subsidiaries, joint ventures and associates can be considered as associates of MCD.

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Employment History

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Use of Artificial Intelligence

IdeaForge shares jump up to 12% after orders from Ministry of Defence

The shares of IdeaForge Technology jumped more than 12 percent to its day's high on November 17 after the company announced two order wins from the Ministry of Defence..

The shares of the company hit an intraday high of Rs 522.50 apiece on NSE on Monday, before paring some gains to close over 8 percent higher in the green at Rs 503 apiece.

IdeaForge Technology wins Rs 75-crore order:

IdeaForge Technology announced on November 14 that the company has won an order worth approximately Rs 75 crore to supply AFDS/Tactical class UAVs with accessories to Ministry of Defence. The said items are expected to be delivered within 12 months as part of the domestic order.

IdeaForge Technology wins Rs 32-crore order:

IdeaForge Technology in another exchange filing released on November 14 announced that it has received an order worth approximately Rs 32 crore to supply Hybrid UAVs with accessories to Ministry of Defence.

This domestic order is expected to be executed within 6 months.

IdeaForge Technology share price:

Despite today’s sharp gains, IdeaForge Technology shares at its day’s high were still 21 percent lower from its 52-week high of Rs 661.25 apiece, which the stock had hit in December last year. It has however recovered nearly 72 percent from its 52-week low of Rs 304.2 apiece, which it had hit in April this year.

The stock rose nearly 8 percent in the past five days, and 6.5 percent in the past one month. The shares of the drone-maker however fell nearly 12 percent in the past six months, and is down over 19 percent in 2025 so far.

Also read: DCB Bank shares jump 7% to hit fresh 52-week high on analyst upgrades, positive outlook 

The shares of <a href="https://www.moneycontrol.com/india/stockpricequote/banks-private-sector/dcbbank/DCB01">DCB Bank</a> jumped nearly 7 percent on November 17 to hit a fresh 52-week high of Rs 187 apiece. This comes as brokerages remain bullish for the stock after the company’s management held the lender’s investor day on November 14.

After hitting a fresh record high, the stock pared some gains to close at Rs 186.34 apiece on NSE, marking a 6 percent rise from the previous closing price.

DCB Bank Investor Day:

In an exchange filling, DCB Bank said that the lender has seen consistent growth over 18 percent in the last six quarters, with balance sheet size crossing the milestone of Rs 75,000 crore in Q4 FY25, and Rs 78,890 crore in Q2 FY26.

The company added that it saw consistent increase in core free income, with highest fee income growth in the last 16 years being recorded at 58 percent YoY in FY25. It added that net interest margin has bottomed out, and it expects an uptick from now.

DCB Bank recorded highest business per employee in last 16 years, highest full year Return on Equity (ROE) in the last 10 years, highest EPS in last 16 years and most efficient capital utilisation in last 10 years.

JM Financial on DCB Bank:

JM Financial kept a ‘Buy’ rating on the stock, while raising the target price to Rs 210 per share from Rs 170 per share. This implies an upside potential of 20 percent from the stock’s previous closing price of Rs 175.5 per share.

The domestic brokerage said that its analysts attended DCB Bank’s investor day where the management reinforced its confidence in delivering approximately 18-20 percent growth with around 0.92-1.0 percent RoA and nearly 13.5-14.5 percent RoE for the next 2 years.

“The bank highlighted the last 6 quarters of consistent 18–20% balance sheet expansion, a sharper focus on secured/granular lending, and disciplined cost management. Improvement in RoA/RoE would be driven by NIM recovery, operating leverage, and a large cross-sell runway. While asset quality remains a risk, with GNPA at 2.9%, the management expects gradual improvement through stronger recoveries, enhanced underwriting and better portfolio mix. With deposit repricing benefits unfolding, we see improving visibility on earnings,” it added.

Motilal Oswal on DCB Bank:

Motilal Oswal Financial Services kept a ‘Buy’ call on the stock, with a target price of Rs 210 apiece. The domestic brokerage estimates DCB Bank to deliver a 24 percent CAGR in earnings over FY26-28.

“DCB Bank (DCBB) has been delivering healthy loan growth and has guided for a steady growth rate of 18-20% over the coming years. The bank continues to focus on granular retail loans with a retail mix (ex-Agri) at 65% of the total portfolio,” it said.

“DCBB has seen a healthy momentum in loan growth, supported by growing focus on gold loans and co-lending partnerships, and the bank expects annual growth of 18-20 percent. Despite repo rate cuts, NIMs expanded 3bp QoQ in 2Q and management expects further improvement on a calibrated basis. With healthy business growth, operating leverage and margin improvement, we expect DCBB to report steady traction in the balance sheet and earnings growth,” it added.

HDFC Securities on DCB Bank:

HDFC Securities upgraded the stock to ‘Buy’ from Add’, and increased its target price to Rs 220 per share. This implies an upside potential of 18 percent from the stock’s previous closing price.

Over the past 6 months, DCB Bank has demonstrated early signs of pricing discipline and improvement in operating metrics, the domestic brokerage said.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

DCB Bank shares jump 7% to hit fresh 52-week high on analyst upgrades, positive outlook

The shares of DCB Bank jumped nearly 7 percent on November 17 to hit a fresh 52-week high of Rs 187 apiece. This comes as brokerages remain bullish for the stock after the company’s management held the lender’s investor day on November 14.

After hitting a fresh record high, the stock pared some gains to close at Rs 186.34 apiece on NSE, marking a 6 percent rise from the previous closing price.

DCB Bank Investor Day:

In an exchange filling, DCB Bank said that the lender has seen consistent growth over 18 percent in the last six quarters, with balance sheet size crossing the milestone of Rs 75,000 crore in Q4 FY25, and Rs 78,890 crore in Q2 FY26.

The company added that it saw consistent increase in core free income, with highest fee income growth in the last 16 years being recorded at 58 percent YoY in FY25. It added that net interest margin has bottomed out, and it expects an uptick from now.

DCB Bank recorded highest business per employee in last 16 years, highest full year Return on Equity (ROE) in the last 10 years, highest EPS in last 16 years and most efficient capital utilisation in last 10 years.

JM Financial on DCB Bank:

JM Financial kept a ‘Buy’ rating on the stock, while raising the target price to Rs 210 per share from Rs 170 per share. This implies an upside potential of 20 percent from the stock’s previous closing price of Rs 175.5 per share.

The domestic brokerage said that its analysts attended DCB Bank’s investor day where the management reinforced its confidence in delivering approximately 18-20 percent growth with around 0.92-1.0 percent RoA and nearly 13.5-14.5 percent RoE for the next 2 years.

“The bank highlighted the last 6 quarters of consistent 18–20% balance sheet expansion, a sharper focus on secured/granular lending, and disciplined cost management. Improvement in RoA/RoE would be driven by NIM recovery, operating leverage, and a large cross-sell runway. While asset quality remains a risk, with GNPA at 2.9%, the management expects gradual improvement through stronger recoveries, enhanced underwriting and better portfolio mix. With deposit repricing benefits unfolding, we see improving visibility on earnings,” it added.

Motilal Oswal on DCB Bank:

Motilal Oswal Financial Services kept a ‘Buy’ call on the stock, with a target price of Rs 210 apiece. The domestic brokerage estimates DCB Bank to deliver a 24 percent CAGR in earnings over FY26-28.

“DCB Bank (DCBB) has been delivering healthy loan growth and has guided for a steady growth rate of 18-20% over the coming years. The bank continues to focus on granular retail loans with a retail mix (ex-Agri) at 65% of the total portfolio,” it said.

“DCBB has seen a healthy momentum in loan growth, supported by growing focus on gold loans and co-lending partnerships, and the bank expects annual growth of 18-20 percent. Despite repo rate cuts, NIMs expanded 3bp QoQ in 2Q and management expects further improvement on a calibrated basis. With healthy business growth, operating leverage and margin improvement, we expect DCBB to report steady traction in the balance sheet and earnings growth,” it added.

HDFC Securities on DCB Bank:

HDFC Securities upgraded the stock to ‘Buy’ from Add’, and increased its target price to Rs 220 per share. This implies an upside potential of 18 percent from the stock’s previous closing price.

Over the past 6 months, DCB Bank has demonstrated early signs of pricing discipline and improvement in operating metrics, the domestic brokerage said.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

The shares of <a href="https://www.moneycontrol.com/india/stockpricequote/infrastructure-general/siemens/S">Siemens India</a> jumped around 5 percent on November 17, recording its biggest-single day rise in around six months. This comes after the company released its results for the July-September quarter of FY26.

The shares of the company closed at Rs 3,238 apiece.

Siemens Q2 Results:

Siemens reported a consolidated net profit of Rs 484.9 crore for the second quarter of the ongoing financial year 2026. This marks a nearly 42 percent fall from the Rs 830.7 crore net profit reported in the corresponding quarter of the previous financial year.

The company's revenue from operations meanwhile rose over 16 percent YoY to Rs 5,171.2 crore during the quarter under review, as against Rs 4,457 crore in Q2 FY25.New orders grew 10.5 percent to Rs 4,800 crore.

Siemens Managing Director and Chief Executive Officer Sunil Mathur said that digital industries volumes were impacted due to a lower reach in the order backlog from the previous year and muted private sector Capex. The profit was impacted by one-time gain of Rs 69 crore from the sale of property in Q4 FY2024, he added.

"While Government spending in Capex in Infrastructure continues, with recent measures to boost consumption through easing of Income Tax rates and GST reforms, we have seen an uptick in consumption during the festive period. We remain cautiously optimistic that this trend will continue in future quarters ultimately leading to a pickup in private sector Capex," he added.

PL Capital on Siemens:

PL Capital raised its target price for the stock to Rs 3,470 apiece from Rs 3,431 apiece, while maintaining its 'Accumulate' rating. This implies an upside potential of more than 11 percent from the stock’s previous closing price.

The domestic brokerage said that Siemens reported a decent quarter, driven by strong execution in Smart infrastructure and the mobility business, whereas Digital Industries remained soft, weighed down by a lower carry-forward order backlog and muted private capex.

“Despite short term cautious stance on private/ industrial capex, we believe SIEM to sustain long-term growth given 1) continued traction in public capex in areas like T&amp;D, Metro, railways, utilities etc. 2) its strong and diversified presence across industries through focus on electrification, digitalization &amp; automation, 3) product localization, 4) strong balance sheet, and 5) value-unlocking from demerger for Energy business,” it added.

JM Financial on Siemens:

JM Financial kept an 'Add' call on the stock, with a target price of Rs 3,440 apiece. This implies an upside potential of more than 11.5 percent from the stock’s previous closing price.

The domestic brokerage said that the firm’s topline exceeded its estimated by 8 percent, but EBITDA beat was smaller at 5 percent on demerger linked costs. “PAT beat was a modest 2% on higher tax and lower other income. Order inflows continue to be robust relative to peer ABB India at 10% though missed our estimate by 5%, it noted.

"We believe strong prospects in data centres and building automation can continue to support SI related order inflows. Further, DI segment may be at its trough in our view both in terms of ordering and margins. We expect normalization on both fronts (ordering and DI margins) from FY27E (Mar’27 ending)," it added.

Motilal Oswal on Siemens:

Motilal Oswal Financial Services kept a 'Neutral' rating on the stock, with a target price of Rs 3,350 per share. This implies an upside potential of nearly 9 percent from the stock’s previous closing price.

"Siemens delivered a revenue beat, while profitability came in slightly below our estimate. Segment wise, smart infra and mobility did well in terms of revenue, while the digital industry remained weak on both revenue and margin fronts. This resulted in a lower-than-estimated overall EBITDA margin," it said.

"Due to weaker-than-expected margins, we cut our future margin assumptions and roll forward our TP to INR3,350, premised on 45x P/E Dec’27 estimates. We reiterate our Neutral rating on the stock as we await a broad-based scale-up in inflows and execution. Our estimates already bake in margin improvements across segments," the domestic brokerage further said.

Also read: <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-sensex-nifty-50-share-price-gift-nifty-latest-updates-17-11-2025-liveblog-13679241.html">Our LIVE blog on stock market updates</a>

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Siemens India jumps 5%, biggest single-day gain in six months, as brokerages see gains from robust order inflows

The shares of Siemens India jumped around 5 percent on November 17, recording its biggest-single day rise in around six months. This comes after the company released its results for the July-September quarter of FY26.

The shares of the company closed at Rs 3,238 apiece.

Siemens Q2 Results:

Siemens reported a consolidated net profit of Rs 484.9 crore for the second quarter of the ongoing financial year 2026. This marks a nearly 42 percent fall from the Rs 830.7 crore net profit reported in the corresponding quarter of the previous financial year.

The company's revenue from operations meanwhile rose over 16 percent YoY to Rs 5,171.2 crore during the quarter under review, as against Rs 4,457 crore in Q2 FY25.New orders grew 10.5 percent to Rs 4,800 crore.

Siemens Managing Director and Chief Executive Officer Sunil Mathur said that digital industries volumes were impacted due to a lower reach in the order backlog from the previous year and muted private sector Capex. The profit was impacted by one-time gain of Rs 69 crore from the sale of property in Q4 FY2024, he added.

&quot;While Government spending in Capex in Infrastructure continues, with recent measures to boost consumption through easing of Income Tax rates and GST reforms, we have seen an uptick in consumption during the festive period. We remain cautiously optimistic that this trend will continue in future quarters ultimately leading to a pickup in private sector Capex,&quot; he added.

PL Capital on Siemens:

PL Capital raised its target price for the stock to Rs 3,470 apiece from Rs 3,431 apiece, while maintaining its 'Accumulate' rating. This implies an upside potential of more than 11 percent from the stock’s previous closing price.

The domestic brokerage said that Siemens reported a decent quarter, driven by strong execution in Smart infrastructure and the mobility business, whereas Digital Industries remained soft, weighed down by a lower carry-forward order backlog and muted private capex.

“Despite short term cautious stance on private/ industrial capex, we believe SIEM to sustain long-term growth given 1) continued traction in public capex in areas like T&amp;amp;D, Metro, railways, utilities etc. 2) its strong and diversified presence across industries through focus on electrification, digitalization &amp;amp; automation, 3) product localization, 4) strong balance sheet, and 5) value-unlocking from demerger for Energy business,” it added.

JM Financial on Siemens:

JM Financial kept an 'Add' call on the stock, with a target price of Rs 3,440 apiece. This implies an upside potential of more than 11.5 percent from the stock’s previous closing price.

The domestic brokerage said that the firm’s topline exceeded its estimated by 8 percent, but EBITDA beat was smaller at 5 percent on demerger linked costs. “PAT beat was a modest 2% on higher tax and lower other income. Order inflows continue to be robust relative to peer ABB India at 10% though missed our estimate by 5%, it noted.

&quot;We believe strong prospects in data centres and building automation can continue to support SI related order inflows. Further, DI segment may be at its trough in our view both in terms of ordering and margins. We expect normalization on both fronts (ordering and DI margins) from FY27E (Mar’27 ending),&quot; it added.

Motilal Oswal on Siemens:

Motilal Oswal Financial Services kept a 'Neutral' rating on the stock, with a target price of Rs 3,350 per share. This implies an upside potential of nearly 9 percent from the stock’s previous closing price.

&quot;Siemens delivered a revenue beat, while profitability came in slightly below our estimate. Segment wise, smart infra and mobility did well in terms of revenue, while the digital industry remained weak on both revenue and margin fronts. This resulted in a lower-than-estimated overall EBITDA margin,&quot; it said.

&quot;Due to weaker-than-expected margins, we cut our future margin assumptions and roll forward our TP to INR3,350, premised on 45x P/E Dec’27 estimates. We reiterate our Neutral rating on the stock as we await a broad-based scale-up in inflows and execution. Our estimates already bake in margin improvements across segments,&quot; the domestic brokerage further said.

Also read: Our LIVE blog on stock market updates

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

The shares of Ahluwalia Contracts and Ajax Engineering surged on November 17 after strong Q2 results announced by the two companies boosted investor sentiment. VIP Industries shares however tumbled in trade.

Ahluwalia Contracts (India) shares jumped nearly 14 percent to trade at Rs 1,005 apiece, while Ajax Engineering shares surged more than 8 percent to trade at Rs 678 apiece. VIP Industries shares dropped nearly 3 percent to Rs 387.15 apiece.

Ahluwalia Contracts Q2 Results:

<a href="https://www.moneycontrol.com/india/stockpricequote/constructioncontracting-civil/ahluwaliacontractsindia/ACI12">Ahluwalia Contracts</a> on November 14 reported a net profit of Rs 79 crore for the second quarter of the ongoing financial year 2026. This marks a whopping 106 percent year-on-year (YoY) rise from the Rs 38.36 crore net profit reported in the corresponding quarter of the previous financial year.

The firm’s revenue from operations meanwhile rose over 16 percent YoY to Rs 1,177 crore during the July-September quarter of FY26, from Rs 1,011.5 crore in the same period last year. Expenses rose nearly 12 percent YoY to Rs 1,085.92 crore during the quarter under review, while EBITDA grew to Rs 128.6 crore.

Ajax Engineering Q2 Results:

<a href="https://www.moneycontrol.com/india/stockpricequote/engineering-construction/ajaxengineering/AEL08">Ajax Engineering</a> shares extended gains for the second consecutive session, rising nearly 18 percent since releasing its results for Q2 FY26. The company on November 13 reported a net profit of Rs 39.1 crore for Q2 FY26, marking a 15 percent YoY rise from the Rs 34 crore net profit reported in Q2 FY25.

The firm’s revenue from operations meanwhile rose around 48 percent YoY to Rs 444.8 crore during the July-September quarter of FY26, from Rs 300.98 crore reported in the corresponding quarter of the previous financial year.

Reported EBITDA increased 16 percent YoY to Rs 45 crore, but EBITDA margin contracted by 280 basis points to Rs 10.2 percent during the quarter under review.

“After a steady performance last year, the last couple of quarters have been a period of transition. Unseasonal rains, change in emission norms, and slower project execution affected demand temporarily. However, Ajax delivered 48% year-on-year revenue growth in Q2 and 18% in H1 and volume growth remains robust across both SLCM and non-SLCM categories. While increased cost of production and changes in revenue mix impacted margins, operating leverage and efficiency measures are expected to aid profitability in the second half of FY26. We remain confident in the long-term growth trajectory and our leadership position in the concrete equipment industry,” said Shubhabrata Saha, Managing Director &amp; CEO, Ajax Engineering.

Citi Research has upgraded the stock to ‘Buy’ from ‘Neutral’, and increased its target price to Rs 735 per share from Rs 700. The latest target price implies an upside potential of 18.4 percent from the stock’s previous closing price.

The brokerage sees gains for Ajax Engineering from improvement in concrete demand, market share recovery and improved pricing environment

VIP Industries Q2 Results:

<a href="https://www.moneycontrol.com/india/stockpricequote/householdpersonal-products/vipindustries/VIP">VIP Industries</a> reported a consolidated net loss of Rs 143 crore for Q2 FY26, marking a significant rise from the Rs 33 crore net loss reported in the same period last year. The firm's revenue from operations meanwhile dropped over 25 percent YoY to Rs 406 crore during the quarter under review.

Prabhudas Lilladher has cut fiscal year 2027 and 2028 earnings per share estimates by 21 percent and 8 percent, and termed September quarter as a period of "kitchen sinking" for VIP Industries. The brokerage said that normalization in VIP Industries’ earnings will only resume from fiscal year 2027.

Also read: <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-sensex-nifty-50-share-price-gift-nifty-latest-updates-17-11-2025-liveblog-13679241.html">Our LIVE blog on stock market updates</a>

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Q2 Results impact: Ahluwalia Contracts, Ajax Engg shares jump up to 14%, VIP Industries down 3%

The shares of Ahluwalia Contracts and Ajax Engineering surged on November 17 after strong Q2 results announced by the two companies boosted investor sentiment. VIP Industries shares however tumbled in trade.

Ahluwalia Contracts (India) shares jumped nearly 14 percent to trade at Rs 1,005 apiece, while Ajax Engineering shares surged more than 8 percent to trade at Rs 678 apiece. VIP Industries shares dropped nearly 3 percent to Rs 387.15 apiece.

Ahluwalia Contracts Q2 Results:

Ahluwalia Contracts on November 14 reported a net profit of Rs 79 crore for the second quarter of the ongoing financial year 2026. This marks a whopping 106 percent year-on-year (YoY) rise from the Rs 38.36 crore net profit reported in the corresponding quarter of the previous financial year.

The firm’s revenue from operations meanwhile rose over 16 percent YoY to Rs 1,177 crore during the July-September quarter of FY26, from Rs 1,011.5 crore in the same period last year. Expenses rose nearly 12 percent YoY to Rs 1,085.92 crore during the quarter under review, while EBITDA grew to Rs 128.6 crore.

Ajax Engineering Q2 Results:

Ajax Engineering shares extended gains for the second consecutive session, rising nearly 18 percent since releasing its results for Q2 FY26. The company on November 13 reported a net profit of Rs 39.1 crore for Q2 FY26, marking a 15 percent YoY rise from the Rs 34 crore net profit reported in Q2 FY25.

The firm’s revenue from operations meanwhile rose around 48 percent YoY to Rs 444.8 crore during the July-September quarter of FY26, from Rs 300.98 crore reported in the corresponding quarter of the previous financial year.

Reported EBITDA increased 16 percent YoY to Rs 45 crore, but EBITDA margin contracted by 280 basis points to Rs 10.2 percent during the quarter under review.

“After a steady performance last year, the last couple of quarters have been a period of transition. Unseasonal rains, change in emission norms, and slower project execution affected demand temporarily. However, Ajax delivered 48% year-on-year revenue growth in Q2 and 18% in H1 and volume growth remains robust across both SLCM and non-SLCM categories. While increased cost of production and changes in revenue mix impacted margins, operating leverage and efficiency measures are expected to aid profitability in the second half of FY26. We remain confident in the long-term growth trajectory and our leadership position in the concrete equipment industry,” said Shubhabrata Saha, Managing Director &amp;amp; CEO, Ajax Engineering.

Citi Research has upgraded the stock to ‘Buy’ from ‘Neutral’, and increased its target price to Rs 735 per share from Rs 700. The latest target price implies an upside potential of 18.4 percent from the stock’s previous closing price.

The brokerage sees gains for Ajax Engineering from improvement in concrete demand, market share recovery and improved pricing environment

VIP Industries Q2 Results:

VIP Industries reported a consolidated net loss of Rs 143 crore for Q2 FY26, marking a significant rise from the Rs 33 crore net loss reported in the same period last year. The firm's revenue from operations meanwhile dropped over 25 percent YoY to Rs 406 crore during the quarter under review.

Prabhudas Lilladher has cut fiscal year 2027 and 2028 earnings per share estimates by 21 percent and 8 percent, and termed September quarter as a period of &quot;kitchen sinking&quot; for VIP Industries. The brokerage said that normalization in VIP Industries’ earnings will only resume from fiscal year 2027.

Also read: Our LIVE blog on stock market updates

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

The shares of <a href="https://www.moneycontrol.com/india/stockpricequote/hospitalsmedical-services/narayanahrudayalaya/NH">Narayana Hrudayalaya</a> jumped more than 15 percent on November 17 after the company released strong results for the second quarter of the ongoing financial year 2026.

The shares of the company closed at Rs 2,020 apiece.

Narayana Hrudayalaya Q2 Results:

Narayana Hrudayalaya on November 14 reported a consolidated net profit of Rs 258.37 crore for the July-September quarter of the financial year 2026. This marks a 30 percent year-on-year (YoY) rise from the Rs 198.63 crore net profit reported in the corresponding quarter of the previous financial year.

The firm's revenue from operations meanwhile grew over 20 percent YoY to Rs 1,643.79 crore in Q2 FY26, from Rs 1,366.68 crore in Q2 FY25. Expenses rose over 18 percent YoY to Rs 1,371 crore, while EBITDA increased more than 28 percent YoY to Rs 426.49 crore. EBITDA margin improved to 25.9 percent.

Here's what Narayana Hrudayalaya said:

Speaking about the company's performance during the quarter, Narayana Hrudayalaya Managing Director and Group CEO Emmanuel Rupert said, "The second quarter of the fiscal year has delivered a strong performance after a steady start to the year. We are pleased to report the highest-ever revenue and profitability at both India and the Group level. The performance improvement in India is attributable to strong growth in domestic footfall and improvements in payor mix, along with positive traction from our Clinics outreach, resulting in the highest ever profitability margins. Our hospital business in Cayman continues to deliver robust performance, with the Insurance business showing strong growth, resulting in record revenues for the region. We are confident that the synergies between the hospital and insurance businesses will deliver steady growth going forward in the Cayman region."

"The domestic Integrated Care business continues to be on a strong growth path, with our clinics garnering sizeable footfalls across all locations, providing a positive thrust to the overall business. After a steady start, our domestic Insurance business has shown strong momentum this quarter and we expect to build on this further going forward. We will continue to invest in this business and are optimistic that it will be a significant driver of growth to the NH ecosystem. We thank the investor community for their faith in us and remain confident of delivering on expectations for the year," he added.

The company is targeting an aggressive capital expenditure of over Rs 3,000 crore over the next 2-3 years towards addition of 2,000 planned beds along with the company's acquisition of UK-based Practice Plus Group Hospitals. The progress on these investments will be watched out for, ICICI Direct Research said in a note. "Improved profitability of India operations besides reigniting of Cayman performance bodes well for future expansion," the broking firm said.

Also read: <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-sensex-nifty-50-share-price-gift-nifty-latest-updates-17-11-2025-liveblog-13679241.html">Our LIVE blog on stock market updates</a>

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Narayana Hrudayalaya shares jump 15% after Q2 net profit rises 30% to Rs 258 crore

The shares of Narayana Hrudayalaya jumped more than 15 percent on November 17 after the company released strong results for the second quarter of the ongoing financial year 2026.

The shares of the company closed at Rs 2,020 apiece.

Narayana Hrudayalaya Q2 Results:

Narayana Hrudayalaya on November 14 reported a consolidated net profit of Rs 258.37 crore for the July-September quarter of the financial year 2026. This marks a 30 percent year-on-year (YoY) rise from the Rs 198.63 crore net profit reported in the corresponding quarter of the previous financial year.

The firm's revenue from operations meanwhile grew over 20 percent YoY to Rs 1,643.79 crore in Q2 FY26, from Rs 1,366.68 crore in Q2 FY25. Expenses rose over 18 percent YoY to Rs 1,371 crore, while EBITDA increased more than 28 percent YoY to Rs 426.49 crore. EBITDA margin improved to 25.9 percent.

Here's what Narayana Hrudayalaya said:

Speaking about the company's performance during the quarter, Narayana Hrudayalaya Managing Director and Group CEO Emmanuel Rupert said, &quot;The second quarter of the fiscal year has delivered a strong performance after a steady start to the year. We are pleased to report the highest-ever revenue and profitability at both India and the Group level. The performance improvement in India is attributable to strong growth in domestic footfall and improvements in payor mix, along with positive traction from our Clinics outreach, resulting in the highest ever profitability margins. Our hospital business in Cayman continues to deliver robust performance, with the Insurance business showing strong growth, resulting in record revenues for the region. We are confident that the synergies between the hospital and insurance businesses will deliver steady growth going forward in the Cayman region.&quot;

&quot;The domestic Integrated Care business continues to be on a strong growth path, with our clinics garnering sizeable footfalls across all locations, providing a positive thrust to the overall business. After a steady start, our domestic Insurance business has shown strong momentum this quarter and we expect to build on this further going forward. We will continue to invest in this business and are optimistic that it will be a significant driver of growth to the NH ecosystem. We thank the investor community for their faith in us and remain confident of delivering on expectations for the year,&quot; he added.

The company is targeting an aggressive capital expenditure of over Rs 3,000 crore over the next 2-3 years towards addition of 2,000 planned beds along with the company's acquisition of UK-based Practice Plus Group Hospitals. The progress on these investments will be watched out for, ICICI Direct Research said in a note. &quot;Improved profitability of India operations besides reigniting of Cayman performance bodes well for future expansion,&quot; the broking firm said.

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