Granules India Limited reported consolidated net profit of ₹181.84 crore for the quarter ended Sept. 30, 2026, as NDTV Profit later reported analyst recommendations on the company and seven other Indian firms.
The board approved the unaudited consolidated results on Nov. 2, according to a filing with the National Stock Exchange of India. Revenue from operations totaled ₹1,559.97 crore for the quarter.
NDTV Profit published its roundup Nov. 3, attributing the calls on the five to Swati Hotkar of Nirmal Bang and Tapan Doshi, whom it identified as a research analyst. The article covered eight companies in all, also including Bosch, LTM and KEI Industries.
Hotkar recommended holding Eternal Limited (Eternal), with a short-term target of ₹370, and holding ICICI Bank Limited (ICICI Bank). NDTV Profit said she advised waiting for further price consolidation before adding to ICICI Bank.
Doshi recommended adding Granules, citing a support range of ₹780 to ₹790 against a reported current market price of ₹797.60, NDTV Profit said. The outlet reported that he recommended holding Bharat Dynamics Limited (Bharat Dynamics) and selling MRF Limited (MRF).
NDTV Profit said Doshi's view on MRF reflected a risk that higher crude prices could pressure operating margins and that recovery could take one or two quarters. The outlet reported that he viewed a full recovery as possibly requiring an investment horizon of at least one year.
For Bharat Dynamics, the outlet said Doshi cited valuation and uneven order execution, while also pointing to export potential and supply constraints.
NSE market data showed Eternal closing at ₹349.45 and ICICI Bank at ₹1,424.50 on Nov. 3. NDTV Profit listed Granules at ₹797.60, MRF at ₹117,690 and Bharat Dynamics at ₹1,017.
EconoTimes previously covered divergent ratings for Eternal and SRF after their Q2 results.
