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The Close · The Open · The Long Desk · Archive · Research
Fri, 4 Sep 2026
1440 companies · 1461 sector slots · 21 sectors · 10 below Rs1000cr and not scanned · long-term lens

Trend Spotlight

Muthoot Finance's Q1 FY27 print undercuts the very premise of the desk's own classification-shift explanation for its Stage-3 rise.

Muthoot Finance's Q1 FY27 (Jun-2026 quarter) results show Gross Stage-3 assets falling to 2.28% from 2.58% a year earlier, with AUM and profit each up 43% YoY -- the opposite of the 'reported rise in Stage-3 assets' the desk's open ledger claim was written to explain away as an RBI-directed loan-level-to-borrower-level reclassification rather than genuine deterioration. Either the cited rise was a now-reversed, prior-quarter data point, or the classification story needs re-checking against the specific quarter it described; no independent RBI source confirming such a reclassification for gold-loan NBFCs was found either way. For a long-term holder, today's data doesn't resolve the underlying question so much as show the metric itself is genuinely improving, not just being explained away by management.

Day ahead

GIFT Nifty flat near 24,000 into a weekend close; a same-day US jobs-data conflict leaves the Fed path unusually unclear.

GIFT Nifty was little changed near 24,000 as of the latest available print, with no fresh quote available before markets shut for the weekend (Sept 5-6). Thursday's US August payrolls report (+162,000, far above the 53,000 consensus) pressured US stocks on rate-hike-risk fears -- S&P -0.38%, Dow -0.51% -- even as the same-day ADP (+38,000) and jobless-claims prints pointed the other way, with at least one desk arguing for a 50bp 'catch-up' Fed cut instead of a hike. Asian markets were broadly firmer (Nikkei +1.26%) after Fed Governor Waller signalled openness to holding rates if price pressures ease -- a dovish note in tension with the same-day US selloff. Closer to home, RBI held its repo rate at 5.25% for a fourth straight meeting, the rupee sits near two-month highs (~94.43/USD) on RBI intervention, and crude remains elevated (WTI ~$91, Brent ~$95) on the ongoing Strait of Hormuz disruption -- though oil markets, like Indian equities, are shut for the weekend.

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 (21)

new
Weighted average rating 4.46/5 including quality and value — the rare combination.
new
Mixed signal (weighted avg 3.35/5 across available lenses) — no strong edge either way.
new
Mixed signal (weighted avg 3.49/5 across available lenses) — no strong edge either way.
new
Mixed signal (weighted avg 2.53/5 across available lenses) — no strong edge either way.
new
Good business, bad price today (Value 1/5) — PEG 1.7; P/E cheaper than 0% of sector peers (P/E 17.49); EV/EBITDA 14.0, B/M 0.101. Watch for a better entry.
new
Weighted average rating 2.46/5 across the panel — too many weak lenses to own.
new
Weighted average rating 4.44/5 including quality and value — the rare combination.
new
Good business, bad price today (Value 1/5) — PEG n/a; P/E cheaper than 17% of sector peers (P/E 13.56); EV/EBITDA 9.2, B/M 0.291. Watch for a better entry.
new
Mixed signal (weighted avg 3.61/5 across available lenses) — no strong edge either way.
new
Mixed signal (weighted avg 3.51/5 across available lenses) — no strong edge either way.
new
Good business, bad price today (Value 1/5) — PEG n/a; P/E cheaper than 34% of sector peers (P/E 37.46); EV/EBITDA 40.2, B/M 0.131. Watch for a better entry.
new
Mixed signal (weighted avg 2.68/5 across available lenses) — no strong edge either way.

and 9 more.

Awaiting a second session (29)

TickerClosePublished PendingNote
ABBOTINDIA ₹26,065.00 QUALITY-WAIT HOLD if next session holds
AJMERA ₹117.76 BUY HOLD if next session holds
ARTEMISMED ₹332.80 BUY QUALITY-WAIT if next session holds
BBL ₹2,289.30 AVOID HOLD if next session holds
CAMPUS ₹223.24 QUALITY-WAIT BUY if next session holds
CHALET ₹896.75 BUY QUALITY-WAIT if next session holds
CMLL ₹503.05 HOLD BUY if next session holds
CMPDI ₹243.92 HOLD QUALITY-WAIT if next session holds
COFORGE ₹1,972.80 HOLD QUALITY-WAIT if next session holds
DPABHUSHAN ₹1,414.20 HOLD BUY if next session holds
FLAIR ₹243.71 HOLD BUY if next session holds
GENESYS ₹230.88 AVOID HOLD if next session holds
HUDCO ₹180.52 AVOID HOLD if next session holds
ICICIGI ₹1,510.00 AVOID HOLD if next session holds
INDIAMART ₹1,726.40 HOLD BUY if next session holds
IREDA ₹113.64 AVOID HOLD if next session holds
KDDL ₹3,911.00 HOLD QUALITY-WAIT if next session holds
MARUTI ₹12,694.00 BUY HOLD if next session holds
MATRIMONY ₹529.05 HOLD BUY if next session holds
NH ₹1,858.50 QUALITY-WAIT BUY if next session holds
POWERMECH ₹2,306.10 BUY HOLD if next session holds
RACLGEAR ₹1,576.10 BUY QUALITY-WAIT if next session holds
RECLTD ₹318.70 BUY HOLD if next session holds
SANGHVIMOV ₹439.20 BUY HOLD if next session holds
SEKURITIND ₹114.56 BUY HOLD if next session holds
STYLAMIND ₹3,387.40 BUY QUALITY-WAIT if next session holds
TVSHLTD ₹13,374.00 AVOID HOLD if next session holds
YATRA ₹113.49 BUY QUALITY-WAIT if next session holds
ZFCVINDIA ₹2,551.90 HOLD QUALITY-WAIT if next session holds

Reporting today

No tracked name reports today.

Coming up

Source: NSE event calendar, filtered to the 1440 tracked names.

Market Overview

IndexClosePoints ChangeP/EP/B
Nifty 50 23,897.70 ▲ +24.25 ▲ +0.10% 20.20 2.89
Nifty Next 50 72,880.90 ▼ -170.95 ▼ -0.23% 19.27 3.24
Nifty 500 23,254.15 ▲ +0.10 ■ +0.00% 22.53 3.24
Nifty Bank 57,369.65 ▼ -10.95 ▼ -0.02% 13.57 1.72
NIFTY Midcap 100 63,079.05 ▼ -156.15 ▼ -0.25% 30.40 4.34
▲ 1403 advancing ■ 39 unchanged ▼ 1186 declining of 2628 equities, vs the 2026-09-03 close
Cash market, ₹ crore
FII / FPI net
▼ -3,111.94
bought 13,858 · sold 16,970
DII net
▲ +8,930.12
bought 19,254 · sold 10,324
FII / FPI DII
FII / DII daily net cash flow · ₹ crore · scroll to zoom, drag to pan

Source: NSE ind_close_all_20260904 (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 — the FIRST call made on each standing name, against its call today. Entry price is the close on the day of that first call, read from the cached bhavcopy for that date. "Unchanged" means the original call still stands.

CompanyFirst flaggedVerdict then Verdict nowAt flagNow Move
Tribhovandas Bhimji Zaveri LtdTBZ Tue, 18 Aug 2026 BUY unchanged ₹251.05 ₹480.85 ▲ +91.5%
PVP Ventures LtdPVP Tue, 18 Aug 2026 AVOID unchanged ₹40.20 ₹67.94 ▲ +69.0%
Goodluck India LtdGOODLUCK Tue, 18 Aug 2026 BUY unchanged ₹1,330.00 ₹472.90 ▼ -64.4%
Shanthi Gears LtdSHANTIGEAR Tue, 18 Aug 2026 HOLD unchanged ₹388.95 ₹621.75 ▲ +59.9%
Jindal Worldwide LtdJINDWORLD Tue, 18 Aug 2026 HOLD unchanged ₹36.19 ₹57.51 ▲ +58.9%
TD Power Systems LtdTDPOWERSYS Tue, 18 Aug 2026 HOLD unchanged ₹1,586.60 ₹740.10 ▼ -53.4%
Oriental Aromatics LtdOAL Tue, 18 Aug 2026 AVOID unchanged ₹341.95 ₹519.90 ▲ +52.0%
Elitecon International LtdELITECON Tue, 18 Aug 2026 HOLD unchanged ₹17.13 ₹8.68 ▼ -49.3%
Wonder Electricals LtdWEL Tue, 18 Aug 2026 HOLD unchanged ₹146.24 ₹76.03 ▼ -48.0%
Welspun Corp LtdWELCORP Wed, 5 Aug 2026 BUY QUALITY-WAIT ₹1,788.10 ₹2,590.60 ▲ +44.9%
Welspun Enterprises LtdWELENT Tue, 18 Aug 2026 HOLD unchanged ₹575.85 ₹813.60 ▲ +41.3%
Milky Mist Dairy Food LtdMILKYMIST Tue, 18 Aug 2026 QUALITY-WAIT unchanged ₹181.50 ₹252.43 ▲ +39.1%

1428 more standing calls with history are not shown — this table is the 12 that have moved most since we flagged them.

Source: data/state.json (call memory) × data/prices/<date>.json.

Top Stories

Maruti's August volumes fell 10% sequentially, a data point for the pending BUY-to-HOLD call review, not yet a guidance cut Automobiles

Maruti sold 219,220 vehicles in August versus 241,421 in July, a roughly 10% month-on-month decline, and the stock fell over 4% on the news before closing down a further 1.27% on Sept 4. Management's most recent public guidance (July) held full-year FY27 volume growth around 10%, attributing the softness to supply rather than demand, and no September update walking that back was found.

MARUTI

Dynamic Cables' fundamentals stayed strong even as the exchange queried its 10% single-day drop Capital Goods

Dynamic Cables posted 33% YoY Q1 FY27 revenue growth to Rs 349 crore on an ~Rs 811 crore order book, with a US market entry and new plant planned for September. Separately, the exchange sought clarification after the stock's -10.36% single-day move this session; no substantive disclosure explaining the drop had surfaced beyond the routine query. The operating numbers argue against DYCL's pending BUY-to-HOLD downgrade, but the unexplained price action is worth tracking before that call publishes. Single-sourced.

DYCL

Lohia Corp's order book nearly doubled, but the overseas units central to the Chairman's 2024 expansion pitch are still loss-making Construction & Materials

Lohia Corp's Q1 FY27 revenue rose 60% YoY to Rs 503 crore and its pending order book nearly doubled to Rs 1,778 crore -- a strong forward signal for the BUY call. But the six consolidated international subsidiaries, including the US and Italy units acquired in 2024 specifically to 'broaden product offerings' and expand into North America and Europe per Chairman R K Lohia's own framing at the time, posted a combined net loss of Rs 5.58 crore on Rs 25.06 crore of revenue this quarter -- a small drag against a much larger profit base, and not unusual for recently integrated units, but the first concrete, checkable data point against that specific promise. Exports are spread across ~100 countries, so no single-client concentration risk was found this session -- this is the last scheduled deep-research pass for this ticker.

LCL

Veedol's Rs 650 crore related-party vote won't have an outcome until Sept 20 Energy & Power

Veedol Corporation's shareholder postal ballot on its Rs 650 crore related-party goods-supply agreement with Standard Greases & Technologies (Aug 2026-Aug 2027) has a voting deadline of Sept 20, 2026. No proxy-advisor recommendation or result has surfaced yet, so the open governance question on this deal remains unresolved this session.

VEEDOL

Saksoft's client-concentration weakness eased slightly but hasn't recovered, leaving the open franchise-risk claim only partly addressed Information Technology

Saksoft's Q1 FY27 results show top-10 client concentration easing to 56% of revenue from 58%, but management flagged continued pressure and delayed decision-making across top clients, and BFS revenue fell 8.7% QoQ specifically on lower spending by its top two clients; profit fell to Rs 29.3 crore from Rs 35.9 crore QoQ. Concentration isn't worsening, but the named top-client weakness the open claim was about has not stabilized or recovered as of this quarter.

SAKSOFT

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 75 scanned · 15 researched ACCUMULATE 62.8 62.0 78.7 38.6 ▼ -0.47% 19.6 15/8/44/8
Banks 40 scanned · 12 researched AVOID 40.4 24.1 52.3 64.2 ▼ -0.02% 13.6 0/0/30/10
Pharmaceuticals 85 scanned · 10 researched AVOID 43.8 16.9 72.0 68.4 ▼ -0.68% 41.0 0/17/58/10
Automobiles 109 scanned · 16 researched WATCH 50.1 25.3 78.3 69.2 ▼ -0.45% 32.2 34/19/44/12
FMCG 107 scanned · 4 researched WATCH 56.0 50.0 67.9 52.0 ▼ -0.14% 31.8 14/22/54/17
Metals & Mining 82 scanned · 5 researched WATCH 46.4 26.2 68.2 63.9 ▲ +1.07% 16.2 16/10/37/19
Realty 38 scanned · 2 researched WATCH 52.7 50.0 52.1 60.9 ▼ -0.90% 38.6 3/2/14/19
Energy & Power 83 scanned · 8 researched WATCH 51.1 39.6 63.4 61.0 ▼ -0.19% 14.8 10/7/33/33
Financial Services 150 scanned · 5 ranked elsewhere · 4 researched WATCH 50.4 50.0 44.2 61.6 ▲ +0.49% 16.0 11/4/84/51
Healthcare & Hospitals 58 scanned · 16 ranked elsewhere · 2 researched WATCH 46.0 21.3 73.8 65.5 ▼ -0.87% 43.0 11/14/27/6
Hospitality & Tourism 37 scanned · 4 researched ACCUMULATE 62.4 63.8 69.5 46.6 ▼ -0.24% 88.2 15/4/8/10
Chemicals 100 scanned · 1 researched WATCH 57.8 50.0 68.5 61.0 15/15/46/24
Construction & Materials 126 scanned · 3 researched WATCH 59.7 64.6 62.3 42.5 18/11/59/38
Capital Goods 103 scanned · 5 researched WATCH 49.3 26.2 78.1 62.8 18/19/50/16
Textiles & Apparel 48 scanned · 2 researched WATCH 52.1 42.6 62.0 61.2 11/8/15/14
Retail & Consumer 66 scanned WATCH 58.8 50.0 68.7 66.1 7/10/30/19
Packaging & Plastics 34 scanned WATCH 49.5 32.2 65.3 69.5 8/4/14/8
Logistics & Transport 25 scanned · 1 researched WATCH 47.0 27.3 70.0 61.0 9/3/6/7
Telecom & Media 29 scanned · 1 researched WATCH 52.3 50.0 60.3 45.0 8/1/9/11
Commercial Services 30 scanned · 2 researched WATCH 55.7 54.6 52.6 63.9 5/2/10/13
Diversified & Other 36 scanned · 1 researched WATCH 51.4 41.9 60.6 61.4 2/4/17/13

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

Stocks to Watch

Split 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. Each shows the figures that selected it — open the desk for the full six-lens panel.

new call this session
P/E in the 98th percentile of its own 3-year range · ROCE 28.2% (up 3.2pt over 5y)
Composite 51.9 Mkt Cap 328,931 cr · Large P/E 27.88 ROCE 28.2% Piotroski 5/9
new call this session
P/E in the 49th percentile of its own 3-year range · ROCE 60.3% (up 3.3pt over 5y) · Piotroski 7/8
Composite 70.1 Mkt Cap 18,822 cr · Mid P/E 17.49 ROCE 60.3% Piotroski 7/8
new call this session
P/E in the 28th percentile of its own 3-year range
Composite 80.4 Mkt Cap 5,296 cr · Small P/E 13.56 ROCE 26.2% Piotroski 6/9
new call this session
P/E in the 41th percentile of its own 3-year range · ROCE 24.1% (down 1.9pt over 5y) · Piotroski 7/9
Composite 63.5 Mkt Cap 2,574 cr · Micro P/E 11.66 ROCE 24.1% Piotroski 7/9

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.