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Fri, 16 Oct 2026
1422 companies · 1443 sector slots · 20 sectors · 27 below Rs1000cr and not scanned · long-term lens

Trend Spotlight

IKS Health's TruBridge integration shows real margin compression (26-27% pro forma vs IKS's own 34% standalone) and a ~$40M/year cut to TruBridge's revenue run-rate guidance, partially confirming the open integration-risk claim even as reported Q1 FY27 actuals held up better.

Three sources (dsij, multibagg, trendlyne) describe the combined entity's pro forma EBITDA margin sitting well below IKS's pre-deal standalone level, with management now guiding TruBridge's annual revenue run-rate to ~$300M (down from ~$340M), citing conservative revenue recognition and customer discounts. Reported Q1 FY27 actuals (33% headline, 35% ex-one-time deal costs) look closer to the pre-deal base than the pro forma figure implies, and management still guides to a 30-36% recovery over several years via AI-led automation and offshore delivery. For a long-term holder this is a genuine, if not yet conclusive, data point against the deal's 'no material dilution' thesis -- worth tracking into FY27, not yet worth abandoning it over.

Day ahead

RBI's calibrated-tightening stance (repo 5.50% since Oct 7) stays in force into today; the Fed's Oct 27-28 FOMC is the next scheduled catalyst, with markets split on whether it hikes.

The RBI's October decision -- its first hike in nearly three years, with its FY27 CPI forecast raised to 5.2% and FY27 GDP forecast raised to 7.1% -- remains the operative backdrop; the next MPC meeting is Dec 2-4, 2026. Sources disagree on how split the committee was: one describes a unanimous vote on the hike itself, another a 4-2 split specifically on the 'calibrated tightening' stance change -- a distinction worth noting rather than resolving. Globally, the US Fed's Oct 27-28 FOMC is the next scheduled rate decision; prediction-market odds on an October hike have swung from roughly 50% in late September to as low as 16% in early October, reflecting genuine uncertainty rather than a settled view. No reliable same-day GIFT Nifty or global-cue figures were available in this session's research pass.

Calls this session

A change to anything but AVOID publishes only after two consecutive sessions say the same thing; AVOID publishes at once.

Sector stance changed (1)

Published this session (6)

new
unconfirmed: price, sector
Unconfirmed: price, sector not checked — Weighted average rating 4.9/5 including quality and value — the rare combination.
new
Weighted average rating 3.85/5 including quality and value — the rare combination.
new
unconfirmed: sector
Unconfirmed: sector not checked — Weighted average rating 4.22/5 including quality and value — the rare combination.
new
unconfirmed: sector
Unconfirmed: sector not checked — Weighted average rating 3.81/5 including quality and value — the rare combination.
new
Good business, bad price today (Value 2/5) — PEG 1.11; P/E cheaper than 20% of sector peers (P/E 25.29); EV/EBITDA 17.1, B/M 0.139. Watch for a better entry.
new
unconfirmed: sector
Unconfirmed: sector not checked — Weighted average rating 4.2/5 including quality and value — the rare combination.

Awaiting a second session (32)

TickerClosePublished PendingNote
AEROFLEX ₹525.80 QUALITY-WAIT → HOLD if next session holds
AGARWALEYE ₹465.80 QUALITY-WAIT → HOLD if next session holds
ARFIN ₹102.72 QUALITY-WAIT → HOLD if next session holds
ASAHIINDIA ₹923.55 QUALITY-WAIT → HOLD if next session holds
ASKAUTOLTD ₹588.00 QUALITY-WAIT → BUY if next session holds
BHARATFORG ₹1,835.00 QUALITY-WAIT → HOLD if next session holds
BIKAJI ₹474.15 HOLD → QUALITY-WAIT if next session holds
BOSCHLTD ₹45,560.00 QUALITY-WAIT → HOLD if next session holds
BPCL ₹293.50 HOLD → BUY if next session holds
CHENNPETRO ₹1,406.60 HOLD → BUY if next session holds
DCXINDIA ₹152.56 AVOID → HOLD if next session holds
ENGINERSIN ₹273.45 QUALITY-WAIT → BUY if next session holds
GILLETTE ₹7,226.50 HOLD → QUALITY-WAIT if next session holds
GRINFRA ₹777.35 AVOID → HOLD if next session holds
HBLENGINE ₹833.15 BUY → QUALITY-WAIT if next session holds
HITECH ₹70.70 AVOID → HOLD if next session holds
INDIAMART ₹1,627.20 HOLD → BUY if next session holds
JLHL ₹247.05 BUY → QUALITY-WAIT if next session holds
JSWSTEEL ₹1,216.30 QUALITY-WAIT → HOLD if next session holds
KDDL ₹3,824.60 QUALITY-WAIT → HOLD if next session holds
LEMONTREE ₹113.42 QUALITY-WAIT → BUY if next session holds
MAHSCOOTER ₹12,401.00 AVOID → HOLD if next session holds
NAVINFLUOR ₹8,167.00 QUALITY-WAIT → HOLD if next session holds
NETWEB ₹4,731.70 QUALITY-WAIT → HOLD if next session holds
ONGC ₹222.00 HOLD → BUY if next session holds
PETRONET ₹293.00 HOLD → BUY if next session holds
QUESS ₹332.95 BUY → HOLD if next session holds
SAMBHV ₹172.47 HOLD → QUALITY-WAIT if next session holds
SBCL ₹1,023.90 QUALITY-WAIT → HOLD if next session holds
SHRIPISTON ₹4,629.90 BUY → QUALITY-WAIT if next session holds
STEELCAS ₹354.50 QUALITY-WAIT → HOLD if next session holds
TATACONSUM ₹978.90 QUALITY-WAIT → HOLD if next session holds

Reporting today

No tracked name reports today.

Coming up

Source: NSE event calendar, filtered to the 1422 tracked names.

Market Overview

IndexClosePoints ChangeP/EP/B
Nifty 50 23,146.15 ▲ +148.80 ▲ +0.65% 19.77 2.84
Nifty Next 50 68,988.60 ▲ +317.00 ▲ +0.46% 18.03 3.31
Nifty 500 22,270.05 ▲ +89.25 ▲ +0.40% 21.89 3.12
Nifty Bank 55,844.00 ▲ +33.50 ▲ +0.06% 13.21 1.68
NIFTY Midcap 100 59,129.75 ▼ -67.50 ▼ -0.11% 27.77 3.76
▲ 1573 advancing ■ 38 unchanged ▼ 1068 declining of 2679 equities, vs the 2026-10-15 close
Cash market, ₹ crore
FII / FPI net
▲ +1,165.92
bought 19,952 · sold 18,786
DII net
▼ -3,661.28
bought 17,202 · sold 20,863
FII / FPI DII
FII / DII daily net cash flow · ₹ crore · scroll to zoom, drag to pan

Source: NSE ind_close_all_20261016 (levels, index P/E and P/B) and the full-market bhavcopy (breadth).

Index P/E from NSE's official daily index file.

Since We Flagged

The desk's track record — every call it has published, scored over the stretch it actually stood: from the close on the day it was made (restated for any split or bonus) to the day the desk changed it, the name left coverage, or today. Each is set against Nifty 500 over the same window. A BUY should beat it; an AVOID should lag it.

CallCallsStanding Median moveMedian vs Nifty 500 Beat Nifty 500
BUY 625 38 ▼ -0.2% ▲ +0.0% 50%
QUALITY-WAIT 491 153 ▼ -2.1% ▼ -1.1% 39%
HOLD 1763 833 ▼ -1.5% ▼ -0.2% 48%
AVOID 849 359 ▼ -0.9% ▼ -0.4% 46%
CompanyCalled sinceCall Previous callAt callNow Movevs Nifty 500
Oriental Aromatics LtdOAL Tue, 18 Aug 2026 AVOID — ₹341.95 ₹629.55 ▲ +84.1% ▲ +89.2%
Raymond LtdRAYMOND Tue, 18 Aug 2026 HOLD — ₹625.00 ₹1,133.90 ▲ +81.4% ▲ +86.5%
PC Jeweller LtdPCJEWELLER Tue, 18 Aug 2026 HOLD — ₹9.62 ₹16.28 ▲ +69.2% ▲ +74.4%
Shanti Gold International LtdSHANTIGOLD Tue, 18 Aug 2026 HOLD — ₹253.85 ₹423.30 ▲ +66.8% ▲ +71.9%
STL Networks LtdSTLNETWORK Tue, 18 Aug 2026 AVOID — ₹25.68 ₹42.73 ▲ +66.4% ▲ +71.5%
SBC Exports LtdSBC Tue, 18 Aug 2026 HOLD — ₹38.66 ₹63.33 ▲ +63.8% ▲ +68.9%
MV Electrosystems LtdMVELECTRO Tue, 18 Aug 2026 AVOID — ₹574.10 ₹937.40 ▲ +63.3% ▲ +68.4%
D.P. Abhushan LtdDPABHUSHAN Tue, 18 Aug 2026 HOLD — ₹1,457.20 ₹2,293.50 ▲ +57.4% ▲ +62.5%
Media Matrix Worldwide LtdMMWL Tue, 18 Aug 2026 HOLD — ₹14.91 ₹22.80 ▲ +52.9% ▲ +58.0%
One Point One Solutions LtdONEPOINT Tue, 18 Aug 2026 HOLD — ₹56.25 ₹84.98 ▲ +51.1% ▲ +56.2%
Elitecon International LtdELITECON Tue, 18 Aug 2026 HOLD — ₹17.13 ₹6.94 ▼ -59.5% ▼ -54.4%
Bluspring Enterprises LtdBLUSPRING Tue, 18 Aug 2026 AVOID — ₹111.21 ₹165.19 ▲ +48.5% ▲ +53.7%

3728 calls scored since Wed, 5 Aug 2026: 1383 standing, 1740 closed when the desk changed the call, 605 closed when the name left coverage (at its last published close). 2027 of them are the call a name was given on entering coverage, not one the desk changed to. 1371 more standing calls with history are not shown — this table is the 12 that have moved most against Nifty 500 since they were made. 31 calls published this session are not scored yet — no session to move in. 25 have no cached close at one end of their window and are not scored. 9 entry prices restated for a split or bonus inside the window (marked adj.).

Source: data/archive/<session>.json (every published call) × data/prices/<date>.json × data/market/<date>.json (Nifty 500).

Top Stories

Quess Corp's qualified audit opinion and leadership transition are modest governance flags against otherwise strong growth Commercial Services

Quess Corp's Q1 FY27 audit opinion is qualified over unresolved income-tax-deduction refund disputes (~INR 155 crore for FY24-25, ~INR 42.2 crore for FY23-24), alongside a CEO transition (Lohit Bhatia, effective Jan 1 2026) and CFO change (Neeraj Jain, effective Dec 5 2025) and a planned three-way demerger into Digitide and Bluspring. Against this, Q1 FY27 revenue rose ~15% YoY to ~INR 4,182 crore, PAT rose ~61% YoY, the balance sheet is debt-free, and management raised the AGM dividend to INR 11/share. This is the clearest new input into the pending QUESS BUY->HOLD call flip.

QUESS

HBL Engineering's 13-17% rally tied to a Tonbo Imaging IPO stake unlock, not to any trigger for its pending downgrade Capital Goods

HBL Engineering jumped 13-17% on Oct 16, 2026 (sources disagree on the exact magnitude), driven by renewed attention to its ~14.25% stake in Tonbo Imaging ahead of a possible IPO, plus a strong quarter (one source cites net profit up 170% QoQ, though the period labeling is inconsistent across posts). A steady stream of Kavach/railway-signalling order wins through 2026 supports medium-term visibility, and no margin or governance concern was found. On balance this argues against, not for, the pending BUY->QUALITY-WAIT downgrade.

HBLENGINE

Bharat Forge trims FY27 India growth guidance after a one-off German-unit restructuring loss Automobiles

Bharat Forge posted a Q1 FY27 consolidated net loss of ~INR 90 crore -- driven by a INR 358 crore exceptional charge to restructure its German subsidiary -- even as operational revenue rose 18.7% YoY to INR 4,640 crore. Management trimmed FY27 India manufacturing revenue growth guidance to 20-25%, from 25% given at Q4 FY26, a mild disappointment against expectations of stronger growth, though the defence order book (INR 11,196 crore as of June 30 2026) still supports medium-term visibility. Modestly negative evidence for the pending QUALITY-WAIT->HOLD call flip.

BHARATFORG

GPPL's port-concession extension remains conditional, not confirmed Logistics & Transport

Gujarat Pipavav Port's concession extension beyond its Sept 2028 expiry is still unresolved: the Gujarat Maritime Board's comfort letter only permits GPPL to begin processing an extension proposal, not an approval of the extension itself. GPPL must submit a full performance record and capex/investment business plan within 90 days of the Aug 26, 2026 letter -- by roughly late November 2026 -- before the board decides. No submission or GMB decision has been confirmed; the open claim stands exactly where it did.

GPPL

Sector Scorecard

Entry score is 40% cheap-vs-history + 25% quality trend + 20% news catalyst + 15% technicals, for the 3 sectors with a researched catalyst. The other 17 show —: no catalyst was researched for them, so their score renormalises over the remaining three inputs rather than assuming a neutral headline. ≥62 accumulate · 45–61 watch · <45 avoid.

SectorStanceEntryCheap QualityTechNews IndexIdx P/EB/W/H/A
Information Technology 75 scanned · 16 researched WATCH 61.2 59.4 78.5 37.2 — ▲ +3.92% 19.8 0/10/56/9
Banks 40 scanned · 5 researched AVOID 44.6 33.7 52.3 61.1 — ▲ +0.06% 13.2 0/0/31/9
Pharmaceuticals 88 scanned · 26 researched WATCH 48.5 25.6 71.5 70.9 — ▼ -0.14% 39.9 0/14/61/13
Automobiles 110 scanned · 32 researched WATCH 55.0 41.0 78.4 60.3 +0 ▲ +0.75% 29.9 12/20/67/11
FMCG 105 scanned · 10 researched WATCH 58.0 55.6 69.0 46.2 — ▼ -0.39% 30.8 0/19/67/19
Metals & Mining 82 scanned · 18 researched WATCH 56.3 48.1 67.1 60.2 — ▲ +0.95% 15.9 0/9/54/19
Realty 40 scanned · 4 researched WATCH 54.3 64.3 52.0 31.6 — ▼ -0.33% 35.0 1/2/14/23
Energy & Power 83 scanned · 13 researched WATCH 56.6 53.5 63.7 53.2 — ▼ -0.06% 14.3 0/7/44/32
Financial Services 150 scanned · 5 ranked elsewhere · 12 researched WATCH 56.4 66.5 44.7 48.8 — ▲ +0.09% 15.6 0/3/94/53
Healthcare & Hospitals 59 scanned · 16 ranked elsewhere · 11 researched WATCH 57.4 50.0 73.0 62.0 -0 ▼ -0.26% 40.8 4/10/40/5
Hospitality & Tourism 38 scanned · 9 researched ACCUMULATE 65.1 71.3 69.0 41.9 — ▲ +0.51% 86.2 2/6/20/10
Chemicals 102 scanned · 9 researched WATCH 60.7 58.7 67.8 54.2 — — — 2/11/61/28
Construction & Materials 126 scanned · 12 researched ACCUMULATE 62.4 71.0 61.6 40.8 — — — 4/11/69/42
Capital Goods 103 scanned · 19 researched WATCH 54.1 38.8 79.0 53.2 — — — 8/13/63/19
Textiles & Apparel 48 scanned · 6 researched WATCH 53.4 45.1 62.0 61.2 — — — 4/3/27/14
Retail & Consumer 65 scanned · 5 researched WATCH 57.8 50.0 68.4 61.0 — — — 1/10/35/19
Packaging & Plastics 33 scanned · 2 researched WATCH 57.2 46.8 65.3 71.6 — — — 1/4/19/9
Logistics & Transport 26 scanned · 6 researched WATCH 50.1 37.0 69.3 53.2 — — — 0/3/17/6
Telecom & Media 33 scanned · 5 researched WATCH 53.1 50.0 59.8 50.0 — — — 3/2/14/14
Commercial Services 37 scanned · 7 researched WATCH 52.8 55.0 52.5 52.4 -0 — — 1/1/20/15

Source: data/verdicts.json × NSE sector index closes.

Stocks to Watch

Split evenly across large/mid/small/micro cap so this list isn't one tier's picks — new calls first, then the highest long-term composites within each. Micro-cap names are boxed and flagged Highly Volatile — worth watching, not a call to buy — since their price swings run about twice every other tier's. Each card shows the figures that selected it — open the desk for the full six-lens panel.

new call this session
P/E in the 52th percentile of its own 3-year range · ROCE 39.6% (up 26.6pt over 5y) · -26.6% off its 52-week high
Composite 70.8 Mkt Cap 59,535 cr · Large P/E 8.82 ROCE 39.6% Piotroski 6/9
new call this session
P/E in the 15th percentile of its own 3-year range · ROCE 21.9% (down 5.1pt over 5y)
Composite 69.8 Mkt Cap 83,940 cr · Large P/E 34.61 ROCE 21.9% Piotroski 4/8
new call this session
P/E in the 28th percentile of its own 3-year range · ROCE 16.9% (up 1.9pt over 5y) · Piotroski 9/9
Composite 73.9 Mkt Cap 17,217 cr · Mid P/E 15.31 ROCE 16.9% Piotroski 9/9
new call this session
P/E in the 64th percentile of its own 3-year range · ROCE 34.4% (up 10.4pt over 5y)
Composite 73.0 Mkt Cap 18,404 cr · Mid P/E 25.29 ROCE 34.4% Piotroski 6/9
new call this session
unconfirmed: sector
P/E in the 5th percentile of its own 3-year range · ROCE 25.3% (up 16.3pt over 5y) · Piotroski 7/9
Composite 78.7 Mkt Cap 6,301 cr · Small P/E 16.95 ROCE 25.3% Piotroski 7/9
new call this session
ROCE 16.2% (up 14.2pt over 5y) · Piotroski 7/9
Composite 76.9 Mkt Cap 8,255 cr · Small P/E 17.05 ROCE 16.2% Piotroski 7/9
new call this session
Highly Volatile
P/E in the 11th percentile of its own 3-year range · ROCE 10.6% (up 0.6pt over 5y) · -45.7% off its 52-week high
Composite 53.5 Mkt Cap 1,027 cr · Micro P/E 25.7 ROCE 10.6% Piotroski 2/9
new call this session
Highly Volatile
P/E in the 95th percentile of its own 3-year range
Composite 51.4 Mkt Cap 3,683 cr · Micro P/E 40.04 ROCE 16.5% Piotroski 4/9

How We Evaluate

MetricWhy it is in the frameworkSource
Return on capital, level and trendDurable high ROCE predicts future returns; the trend separates a moat from a good year Novy-Marx 2013 JFE
Gross profitability (GP/assets)As predictive as book-to-market, and less prone to the value trap Novy-Marx 2013 JFE
Piotroski F-scoreA nine-signal accounting checklist that separates real improvers from statistically cheap traps Piotroski 2000 JAR
Cash-flow-to-net-profitAccrual-heavy profit reverts; cash-backed profit persists Sloan 1996 TAR
P/E versus the stock's own historyCheap relative to itself, not to a peer set that may be expensive as a whole Basu 1977 JF
Book-to-marketThe value premium, in its original form Fama–French 1992 JF
EV/EBITDACapital-structure-neutral, so it compares a leveraged firm to an unleveraged one Practitioner standard
Altman Z and interest coverageDistressed firms have delivered lower, not higher, returns — screen them out rather than chase them Altman 1968 JF; Campbell/Hilscher/Szilagyi 2008 JF
52-week-high proximity, 200-DMANearness to the high has predicted continuation — but momentum crashes, so never alone George & Hwang 2004 JF; Daniel & Moskowitz 2016 JFE
Promoter pledgePledged promoter holding is a governance red flag ahead of a forced sale Not currently available from either source — no penalty is applied

Full derivation in METHODOLOGY.md.