NDTV Profit reported mixed recommendations on four Indian stocks on Nov. 2, pairing views on company shares with recent earnings and sales figures.
The outlet said Saurabh Jain of SMC Global Securities recommended a hold on Mazagon Dock Shipbuilders Ltd. and Dixon Technologies (India) Ltd., while favoring Mahindra & Mahindra Ltd. as a long-term position. It reported that Gaurav Sharma of Globe Capital recommended a sale of Kaynes Technology India Ltd. and paired that call with a preference for Syrma SGS. The report gave no price targets or stated validity periods for the recommendations, which were the advisers’ views rather than company guidance.
Mazagon Dock's unaudited consolidated results for the quarter ended Sept. 30 showed revenue from operations of ₹2,446.09 crore (₹24.46 billion), down 16.5% from a year earlier. Profit for the period was ₹346.40 crore (₹3.46 billion), compared with ₹749.48 crore (₹7.49 billion) in the year-earlier quarter. The company's investor presentation put its order book at ₹16,443 crore (₹164.43 billion) as of Sept. 30. NDTV Profit said Jain weighed the order book and management outlook against near-term valuation concerns.
Mahindra reported October vehicle sales of 131,109, up 9% including exports. Domestic utility-vehicle sales rose 2% to 73,338, while domestic tractor sales fell 13% to 62,626. The company linked the tractor decline to the festival calendar: Diwali fell in November 2026 after occurring in October 2025. Domestic tractor sales through October were up 2% year over year.
Dixon's unaudited consolidated filing reported revenue from operations of ₹21,793.64 crore (₹217.94 billion) and profit attributable to owners of ₹343.66 crore (₹3.44 billion). IANS reported that revenue rose 46.7% year over year, while profit attributable to owners fell 48.7%. The filing cautioned that the year-over-year comparison was affected by the transfer of Dixon's lighting business to a joint venture effective Aug. 1, 2025.
Mahindra's investor-relations calendar lists a Q2 FY27 analyst meeting for Thursday, Nov. 5, from 5:30 to 7 a.m. ET (4 to 5:30 p.m. IST).
