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The Close · The Open · The Long Desk · Archive · Research · Top Stocks
Tue, 3 Nov 2026
1400 companies · 1421 sector slots · 20 sectors · 49 below Rs1000cr and not scanned · long-term lens

Trend Spotlight

RBI and the Fed have both tipped into tightening mode, reversing 2026's rate-cut narrative.

The RBI raised the repo rate 25bps to 5.50% on Oct 7 -- its first hike since Feb 2023 -- and shifted its stance to 'calibrated tightening,' with the governor saying cuts are off the table near-term and this hike may not be the last. The Fed held at 3.75-4.00% on Oct 28 in a 10-2 vote, but both dissenters wanted a hike, and futures price roughly 85% odds of a December move. For a long-term holder, a global backdrop of tightening rather than easing raises the discount rate on every growth story the desk is tracking, with rate-sensitive sectors (auto, realty, financials) most exposed just as two of those sit near the top of today's index movers.

Day ahead

No confirmed overnight GIFT Nifty read for this session; next rate decisions are the RBI's Dec 2-4 MPC and the Fed's Dec 9 FOMC.

This search could not source a reliable GIFT Nifty or USD/INR level specifically for Nov 3-4, 2026 -- the most recent confirmed data point is the rupee near 95.70/USD and Brent near $93.65/bbl, both dated to around Oct 27 and now over a week stale. The next scheduled catalysts worth watching are the RBI's Dec 2-4 MPC, following October's hike to 5.50%, and the Fed's Dec 9 FOMC, where futures already price roughly 85% odds of a hike to 4.00-4.25%.

Arrived overnight

Fii/dii cash flows published after The Close went out, and is included below. The evening report names what it is still waiting for, so nothing appears without having been declared missing first.

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 (2)

Published this session (12)

new
unconfirmed: sector
Unconfirmed: sector not checked — Weighted average rating 4.17/5 including quality and value — the rare combination.
new
unconfirmed: sector
Unconfirmed: sector not checked — Weighted average rating 3.89/5 including quality and value — the rare combination.
new
Good business, bad price today (Value 2/5) — PEG 3.03; P/E cheaper than 90% of sector peers (P/E 10.91); EV/EBITDA 10.3, B/M 0.678. Watch for a better entry.
new
Good business, bad price today (Value 2/5) — PEG 3.11; P/E cheaper than 88% of sector peers (P/E 21.79); EV/EBITDA 14.7, B/M 0.154. Watch for a better entry.
new
Good business, bad price today (Value 2/5) — PEG n/a; P/E cheaper than 20% of sector peers (P/E 26.06); EV/EBITDA 17.4, B/M 0.374. Watch for a better entry.
new
Good business, bad price today (Value 2/5) — PEG n/a; P/E cheaper than 55% of sector peers (P/E 44.3); EV/EBITDA 25.5, B/M 0.119. Watch for a better entry.
new
Good business, bad price today (Value 1/5) — PEG 0.85; P/E cheaper than 33% of sector peers (P/E 41.13); EV/EBITDA 32.7, B/M 0.106. Watch for a better entry.
new
Good business, bad price today (Value 2/5) — PEG 4.52; P/E cheaper than 27% of sector peers (P/E 50.12); EV/EBITDA 22.5, B/M 0.242. Watch for a better entry.
new
Good business, bad price today (Value 2/5) — PEG 1.57; P/E cheaper than 39% of sector peers (P/E 36.94); EV/EBITDA 23.3, B/M 0.112. Watch for a better entry.
new
Good business, bad price today (Value 2/5) — PEG n/a; P/E cheaper than 54% of sector peers (P/E 74.91); EV/EBITDA 50.7, B/M 0.071. Watch for a better entry.
new
Legs gate: sector failed — Weighted average rating 3.86/5 including quality and value — the rare combination.
new
Mixed signal (weighted avg 3.53/5 across available lenses) — no strong edge either way.

Awaiting a second session (43)

TickerClosePublished PendingNote
ABBOTINDIA ₹25,800.00 QUALITY-WAIT → HOLD if next session holds
ALIVUS ₹1,481.30 HOLD → QUALITY-WAIT if next session holds
APTUS ₹201.71 HOLD → BUY if next session holds
BEL ₹380.10 HOLD → BUY if next session holds
BHARTIARTL ₹2,065.00 BUY → HOLD if next session holds
BIKAJI ₹465.95 QUALITY-WAIT → HOLD if next session holds
CENTURYPLY ₹648.30 HOLD → QUALITY-WAIT if next session holds
CHOLAFIN ₹1,650.00 AVOID → HOLD if next session holds
EDELWEISS ₹122.47 HOLD → BUY if next session holds
EMMVEE ₹231.26 HOLD → BUY if next session holds
FEDFINA ₹150.38 AVOID → HOLD if next session holds
GARFIBRES ₹739.00 HOLD → QUALITY-WAIT if next session holds
GICRE ₹318.95 HOLD → BUY if next session holds
GOKULAGRO ₹217.05 BUY → HOLD if next session holds
GULFOILLUB ₹1,085.20 HOLD → QUALITY-WAIT if next session holds
HAL ₹4,958.60 HOLD → BUY if next session holds
HDFCAMC ₹2,440.00 AVOID → HOLD if next session holds
HFCL ₹217.00 AVOID → HOLD if next session holds
INDUSTOWER ₹390.00 BUY → HOLD if next session holds
IOB ₹29.32 AVOID → HOLD if next session holds
JAMNAAUTO ₹122.98 BUY → HOLD if next session holds
KIRLPNU ₹549.70 HOLD → BUY if next session holds
LICI ₹395.50 HOLD → BUY if next session holds
MUTHOOTFIN ₹2,528.20 HOLD → BUY if next session holds
NILKAMAL ₹1,897.90 HOLD → QUALITY-WAIT if next session holds
NPST ₹1,706.00 AVOID → HOLD if next session holds
OFSS ₹9,910.00 QUALITY-WAIT → HOLD if next session holds
PARKHOSPS ₹223.64 HOLD → QUALITY-WAIT if next session holds
PFC ₹318.00 HOLD → BUY if next session holds
PREMIERENE ₹890.00 HOLD → BUY if next session holds
RAILTEL ₹229.63 BUY → HOLD if next session holds
REDTAPE ₹106.80 HOLD → BUY if next session holds
SAMBHV ₹161.52 HOLD → QUALITY-WAIT if next session holds
SJS ₹2,170.70 BUY → QUALITY-WAIT if next session holds
SKIPPER ₹519.15 HOLD → BUY if next session holds
SSWL ₹512.55 HOLD → QUALITY-WAIT if next session holds
STYL ₹314.15 HOLD → BUY if next session holds
TATASTEEL ₹176.50 QUALITY-WAIT → HOLD if next session holds
TRANSRAILL ₹442.05 AVOID → QUALITY-WAIT if next session holds
TVSHLTD ₹11,849.00 HOLD → BUY if next session holds
UTIAMC ₹801.55 AVOID → HOLD if next session holds
VRLLOG ₹295.45 HOLD → BUY if next session holds
WAAREERTL ₹697.50 HOLD → BUY if next session holds

Reporting today

No tracked name reports today.

Coming up

Source: NSE event calendar, filtered to the 1400 tracked names.

Market Overview

IndexClosePoints ChangeP/EP/B
Nifty 50 23,810.85 ▲ +370.05 ▲ +1.58% 19.71 2.92
Nifty Next 50 69,624.35 ▲ +661.70 ▲ +0.96% 16.97 3.34
Nifty 500 22,520.35 ▲ +278.95 ▲ +1.25% 21.31 3.16
Nifty Bank 55,540.05 ▲ +537.85 ▲ +0.98% 12.35 1.67
NIFTY Midcap 100 58,596.25 ▲ +612.85 ▲ +1.06% 26.47 3.73
▲ 1582 advancing ■ 27 unchanged ▼ 1092 declining of 2701 equities, vs the 2026-11-02 close
Cash market, ₹ crore
FII / FPI net
▲ +6,836.81
bought 20,971 · sold 14,134
DII net
▼ -3,678.85
bought 16,724 · sold 20,403
FII / FPI DII
FII / DII daily net cash flow · ₹ crore · scroll to zoom, drag to pan

Source: NSE ind_close_all_20261103 (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 679 31 ▼ -0.3% ▼ -0.0% 49%
QUALITY-WAIT 524 120 ▼ -2.2% ▼ -1.5% 35%
HOLD 1917 835 ▼ -1.9% ▼ -1.1% 41%
AVOID 894 368 ▼ -1.4% ▼ -1.1% 40%
CompanyCalled sinceCall Previous callAt callNow Movevs Nifty 500
Raymond LtdRAYMOND Tue, 18 Aug 2026 HOLD — ₹625.00 ₹1,172.30 ▲ +87.6% ▲ +91.6%
Pashupati Cotspin LtdPASHUPATI Tue, 18 Aug 2026 AVOID — ₹85.32 ₹148.72 ▲ +74.3% ▲ +78.4%
SBC Exports LtdSBC Tue, 18 Aug 2026 HOLD — ₹38.66 ₹66.71 ▲ +72.6% ▲ +76.6%
Oriental Aromatics LtdOAL Tue, 18 Aug 2026 AVOID — ₹341.95 ₹560.05 ▲ +63.8% ▲ +67.8%
Elitecon International LtdELITECON Tue, 18 Aug 2026 HOLD — ₹17.13 ₹6.63 ▼ -61.3% ▼ -57.2%
PC Jeweller LtdPCJEWELLER Tue, 18 Aug 2026 HOLD — ₹9.62 ₹14.69 ▲ +52.7% ▲ +56.8%
Turtlemint Fintech Solutions LtdTURTLEMINT Thu, 24 Sep 2026 AVOID HOLD ₹109.04 ₹54.17 ▼ -50.3% ▼ -50.2%
SMS Pharmaceuticals LtdSMSPHARMA Tue, 18 Aug 2026 HOLD — ₹359.35 ₹514.15 ▲ +43.1% ▲ +47.1%
Welspun Living LtdWELSPUNLIV Tue, 18 Aug 2026 HOLD — ₹177.79 ₹253.09 ▲ +42.4% ▲ +46.4%
BN Agrochem LtdBNAGROCHEM Tue, 18 Aug 2026 HOLD — ₹231.70 ₹117.56 ▼ -49.3% ▼ -45.2%
Gretex Corporate Services LtdGCSL Mon, 31 Aug 2026 AVOID HOLD ₹556.55 ₹773.35 ▲ +39.0% ▲ +42.9%
HLE Glascoat LtdHLEGLAS Tue, 18 Aug 2026 HOLD — ₹306.20 ₹424.15 ▲ +38.5% ▲ +42.6%

4014 calls scored since Wed, 5 Aug 2026: 1354 standing, 2002 closed when the desk changed the call, 658 closed when the name left coverage (at its last published close). 2050 of them are the call a name was given on entering coverage, not one the desk changed to. 1342 more standing calls with history are not shown — this table is the 12 that have moved most against Nifty 500 since they were made. 28 calls published this session are not scored yet — no session to move in. 39 have no cached close at one end of their window and are not scored. 11 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

RailTel's new order wins roughly track, but don't clearly exceed, its recent cancellation string Telecom & Media

RailTel has booked a string of PSU/government orders since mid-2026 -- a Rs255cr RVNL tunnel-systems order, Rs82cr HRIDC signalling contract, Rs52.57cr disaster-recovery order, Rs63.92cr CPWD order, a Rs20cr Munitions India LOI and smaller UP Police/HRIDC orders -- totalling roughly Rs600-700cr, in the same order of magnitude as the ~Rs650-900cr of Bihar, Himachal and Navodaya cancellations the open claim tracks. No report states total new intake exceeds total cancellations, and no further cancellations surfaced either -- the open claim stays unresolved rather than settled either way.

RAILTEL

Abbott India's Digene and Phensedyl regulatory matters remain unresolved Pharmaceuticals

Goa's FDA threatened a licence suspension over the 2023 Digene recall; Abbott says it has implemented corrective actions (segregated lines, changed cleaning protocols) and asked regulators to take no licence action, with no final decision found. Separately, Himachal Pradesh's drug regulator issued a Phensedyl show-cause notice that Abbott denies, and a later report describes UP regulators inspecting the Himachal facility and seizing records, with Abbott not formally accused. Neither matter has produced a confirmed fine or licence action either way.

ABBOTINDIA

VRL Logistics' Q2 margin beat backs ICICI's top-pick call ahead of its pending HOLD->BUY flip Logistics & Transport

VRL's Q2 FY26 total income was flat near Rs804cr, but EBITDA rose 17% to Rs158cr (margin 19.7% vs 16.9% a year ago) and PAT grew 39% to about Rs50cr as fuel costs fell to 25.6% of income. Management guides to 8-10% volume growth from FY27 onward, and ICICI Securities maintained BUY with a Rs350 target, calling it its top pick in surface logistics -- a genuine positive, though the results predate November.

VRLLOG

Tata Steel's UK arm is guided back to profit in FY27, but a single, uncorroborated report flags an earlier Netherlands coke-plant closure Metals & Mining

Tata Steel's Port Talbot electric-arc-furnace project faces a roughly 12-month delay in its National Grid power connection, though the UK business is still expected to return to profitability in FY27. Separately, a single trade-press report says Tata Steel Nederland is weighing earlier closure of coke facilities amid EU slag-standard and emission-limit pressure that has already caused production losses -- not yet corroborated by any other outlet, but specific enough to flag against the Netherlands operations.

TATASTEEL

Sector Scorecard

Entry score is 40% cheap-vs-history + 25% quality trend + 15% technicals, renormalised over those three — the 20% news catalyst is not counted because no research was written for this session. It is not treated as neutral; it is absent. ≥62 accumulate · 45–61 watch · <45 avoid.

SectorStanceEntryCheap QualityTechNews IndexIdx P/EB/W/H/A
Information Technology 73 scanned · 12 researched WATCH 61.8 64.3 78.5 27.4 — ▲ +0.34% 19.8 0/6/58/9
Banks 39 scanned · 6 researched WATCH 50.7 50.0 54.1 47.0 — ▲ +0.98% 12.3 0/0/30/9
Pharmaceuticals 88 scanned · 20 researched WATCH 48.2 27.7 71.5 64.0 — ▲ +0.42% 43.7 0/13/62/13
Automobiles 108 scanned · 35 researched WATCH 58.8 48.9 78.6 52.1 — ▲ +1.71% 29.9 13/14/68/13
FMCG 103 scanned · 11 researched WATCH 61.8 63.7 68.8 45.0 — ▲ +3.65% 31.2 1/19/63/20
Metals & Mining 81 scanned · 14 researched WATCH 54.3 50.0 66.3 45.8 — ▼ -0.14% 15.0 0/7/53/21
Realty 38 scanned · 3 researched WATCH 56.4 68.1 52.4 31.9 — ▲ +2.33% 34.9 1/2/14/21
Energy & Power 83 scanned · 9 researched WATCH 59.7 62.0 63.7 47.0 — ▼ -0.11% 13.5 5/3/41/34
Financial Services 146 scanned · 5 ranked elsewhere · 14 researched WATCH 59.6 75.1 44.2 44.0 — ▲ +1.84% 15.1 0/3/88/55
Healthcare & Hospitals 57 scanned · 16 ranked elsewhere · 9 researched WATCH 53.0 36.7 73.0 63.2 — ▲ +0.61% 44.9 0/12/38/7
Hospitality & Tourism 38 scanned · 8 researched ACCUMULATE 67.1 76.8 69.0 38.2 — ▲ +1.25% 80.9 0/6/22/10
Chemicals 102 scanned · 7 researched ACCUMULATE 64.4 72.3 67.8 37.7 — — — 1/7/65/29
Construction & Materials 124 scanned · 11 researched ACCUMULATE 65.0 79.6 61.6 32.1 — — — 0/11/71/42
Capital Goods 103 scanned · 16 researched WATCH 56.2 46.0 79.6 44.4 — — — 0/12/69/22
Textiles & Apparel 46 scanned · 5 researched WATCH 51.9 46.5 62.0 49.5 — — — 2/4/26/14
Retail & Consumer 64 scanned · 6 researched ACCUMULATE 63.7 65.2 68.7 51.5 — — — 2/8/36/18
Packaging & Plastics 33 scanned · 3 researched WATCH 57.0 54.5 64.1 51.8 — — — 0/3/20/10
Logistics & Transport 26 scanned · 6 researched WATCH 51.3 42.4 69.3 45.0 — — — 5/2/12/7
Telecom & Media 33 scanned · 3 researched WATCH 52.4 50.0 59.8 46.6 — — — 3/2/13/15
Commercial Services 36 scanned · 4 researched WATCH 52.7 52.1 58.1 45.3 — — — 0/2/20/14

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 10th percentile of its own 3-year range · ROCE 44.8% (up 9.8pt over 5y)
Composite 81.0 Mkt Cap 54,825 cr · Large P/E 33.97 ROCE 44.8% Piotroski 5/8
new call this session
P/E in the 94th percentile of its own 3-year range · ROCE 39.8% (up 24.8pt over 5y) · Piotroski 9/9
Composite 53.6 Mkt Cap 67,951 cr · Large P/E 21.79 ROCE 39.8% Piotroski 9/9
new call this session
P/E in the 9th percentile of its own 3-year range · ROCE 20.7% (up 31.7pt over 5y) · -26.3% off its 52-week high
Composite 86.5 Mkt Cap 18,423 cr · Mid P/E 25.33 ROCE 20.7% Piotroski 5/9
new call this session
P/E in the 19th percentile of its own 3-year range · ROCE 42.4% (up 51.4pt over 5y)
Composite 84.0 Mkt Cap 15,188 cr · Mid P/E 31.92 ROCE 42.4% Piotroski 6/9
new call this session
unconfirmed: sector
P/E in the 36th percentile of its own 3-year range · ROCE 22.8% (up 7.8pt over 5y) · -27.6% off its 52-week high
Composite 78.0 Mkt Cap 12,063 cr · Small P/E 31.22 ROCE 22.8% Piotroski 5/8
new call this session
P/E in the 87th percentile of its own 3-year range · ROCE 25.4% (up 4.4pt over 5y)
Composite 66.8 Mkt Cap 11,685 cr · Small P/E 36.94 ROCE 25.4% Piotroski 5/9
new call this session
Highly Volatile
ROCE 26.2% (up 1.2pt over 5y) · Piotroski 8/8
Composite 68.8 Mkt Cap 2,431 cr · Micro P/E 43.56 ROCE 26.2% Piotroski 8/8
new call this session
Highly Volatile
P/E in the 23th percentile of its own 3-year range · ROCE 8.37% (up 3.4pt over 5y)
Composite 68.7 Mkt Cap 2,781 cr · Micro P/E 21.43 ROCE 8.37% Piotroski 3/8

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.