Equity Analyst - Fundamental & Thematic, Sree Capital

Sreemant Dudhoria

Equity Analyst - Fundamental & Thematic

Fundamental Research on Listed Indian Companies

Sree Capital

Sree Capital is a platform to share fundamental research on listed Indian companies. We do this research for our own investment

Equity Bottom-Up

<ul>
<li>51 companies recorded insider acquisitions in September 2026 — the broadest monthly cohort in recent months.</li>
<li>We highlight large and small cap companies that experienced significant insider buying during September 2026, as reported on the stock exchanges.</li>
<li>We also present key sectors which saw insider buying during the month along with names which have moved significantly above/below the insider buying price.</li>
</ul>


51 companies recorded insider acquisitions in September 2026 — the broadest monthly cohort in recent months.
We highlight large and small cap companies that experienced significant insider buying during September 2026, as reported on the stock exchanges.
We also present key sectors which saw insider buying during the month along with names which have moved significantly above/below the insider buying price.


Insider Activity: Who Is Buying Their Own Stock During the Market Correction? – September 2026

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

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Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Thematic (Sector/Industry)

<ul><li>Reliance Industries: Reliance Industries’ (RIL) consolidated Q3FY26 EBITDA stood at INR 460.18bn (+5.1% YoY, +0.3% QoQ), coming in below our estimate</li><li>APAT at INR 186.45bn (+0.6% YoY; +2.6% QoQ) also missed our estimates</li><li>The miss was primarily on account of weaker-than-expected performance of O&amp;G business</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Reliance Industries: Reliance Industries’ (RIL) consolidated Q3FY26 EBITDA stood at INR 460.18bn (+5.1% YoY, +0.3% QoQ), coming in below our estimateAPAT at INR 186.45bn (+0.6% YoY; +2.6% QoQ) also missed our estimatesThe miss was primarily on account of weaker-than-expected performance of O&amp;G businessContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HSIE Results Daily: Reliance Industries, RBL Bank, Sobha

<ul><li>Demand holding on steady, this quarter saw launches pushing out to Q4FY26: The Indian real estate market sustained its mature growth trajectory into Q3FY26, building on the steady demand dynamics established earlier in the fiscal year</li><li>Tier-2 and tier-3 cities continued to drive mid-premium residential sales, while core metros maintained their leadership in the mid-premium to luxury segment</li><li>Demand remained steady with new launches witnessing 40-50% absorption, whilst sustenance sales helped</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Demand holding on steady, this quarter saw launches pushing out to Q4FY26: The Indian real estate market sustained its mature growth trajectory into Q3FY26, building on the steady demand dynamics established earlier in the fiscal yearTier-2 and tier-3 cities continued to drive mid-premium residential sales, while core metros maintained their leadership in the mid-premium to luxury segmentDemand remained steady with new launches witnessing 40-50% absorption, whilst sustenance sales helpedContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Real Estate (Q3FY26 Results Preview): Demand stable, launches awaited

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

<ul>
<li>Listed Indian real estate developers reported a blockbuster H1FY26, with aggregate pre-sales soaring 47% YoY to INR 73,100 crore, led by giants like DLF and Prestige Estates.</li>
<li>This isn't a simple cyclical rally. It's a structural consolidation, as deleveraged balance sheets (five of 11 top players are net cash) allow organized players to seize market share.</li>
<li>The battleground has shifted from sales to execution. While pre-sales are strong, flat OCF highlights a critical lag, making 2H launch delivery and cash conversion the key metrics to watch.</li>
</ul>


Listed Indian real estate developers reported a blockbuster H1FY26, with aggregate pre-sales soaring 47% YoY to INR 73,100 crore, led by giants like DLF and Prestige Estates.
This isn't a simple cyclical rally. It's a structural consolidation, as deleveraged balance sheets (five of 11 top players are net cash) allow organized players to seize market share.
The battleground has shifted from sales to execution. While pre-sales are strong, flat OCF highlights a critical lag, making 2H launch delivery and cash conversion the key metrics to watch.


Thematic Report on Indian Realty: Why H1's Record Sales Mask a Deeper Cash Flow & Execution Test

<ul><li>Following the strong price surge and record sales of FY24/25, the Indian real estate market is entering a phase of mature, steady growth in FY26</li><li>The momentum has broadened, with Tier-2/3 cities fueling mid-premium housing demand and core metros leading the luxury segment</li><li>Driven by urbanization, rising incomes, and the prevalence of nuclear families, demand is stabilizing</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Following the strong price surge and record sales of FY24/25, the Indian real estate market is entering a phase of mature, steady growth in FY26The momentum has broadened, with Tier-2/3 cities fueling mid-premium housing demand and core metros leading the luxury segmentDriven by urbanization, rising incomes, and the prevalence of nuclear families, demand is stabilizingContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Real Estate (Q2FY26 Results Preview): Sustenance to drive presales momentum

India

Sobha Limited provides construction services. The Company offers design and architecture, mechanical, plumbing, interiors, landscape, residential, commercial, and civil construction services. Sobha serves customers in India, Singapore, and United Arab Emirates.

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Sobha Ltd (SOBHA IN)

Insider Activity: Who Is Buying Their Own Stock During the Market Correction? – September 2026

Insight on insider buying in Sep 2026 — the broadest monthly cohort in recent months -highlighting key sectors along with names which have moved...

Sreemant Dudhoria

HSIE Results Daily: Reliance Industries, RBL Bank, Sobha

Reliance Industries: Reliance Industries’ (RIL) consolidated Q3FY26 EBITDA stood at INR 460.18bn (+5.1% YoY, +0.3% QoQ), coming in below our estimate

HDFC Securities

Real Estate (Q3FY26 Results Preview): Demand stable, launches awaited

The Indian real estate market sustained its mature growth trajectory into Q3FY26, building on the steady demand dynamics established earlier in the...

HDFC Securities

Thematic Report on Indian Realty: Why H1's Record Sales Mask a Deeper Cash Flow & Execution Test

Indian real estate developers see H1FY26 with pre-sales up 47% to INR 73,100 crore. Structural consolidation, not just cyclical rally, as players...

Nimish Maheshwari

Real Estate (Q2FY26 Results Preview): Sustenance to drive presales momentum

Following the strong price surge and record sales of FY24/25, the Indian real estate market is entering a phase of mature, steady growth in FY26

HDFC Securities

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Insider Activity: Who Is Buying Their Own Stock During the Market Correction? – September 2026

Insight on insider buying in Sep 2026 — the broadest monthly cohort in recent months -highlighting key sectors along with names which have moved...

Sreemant Dudhoria

HSIE Results Daily: Reliance Industries, RBL Bank, Sobha

Reliance Industries: Reliance Industries’ (RIL) consolidated Q3FY26 EBITDA stood at INR 460.18bn (+5.1% YoY, +0.3% QoQ), coming in below our estimate

HDFC Securities

Real Estate (Q3FY26 Results Preview): Demand stable, launches awaited

The Indian real estate market sustained its mature growth trajectory into Q3FY26, building on the steady demand dynamics established earlier in the...

HDFC Securities

Thematic Report on Indian Realty: Why H1's Record Sales Mask a Deeper Cash Flow & Execution Test

​Indian real estate developers see H1FY26 with pre-sales up 47% to INR 73,100 crore. Structural consolidation, not just cyclical rally, as players...

Nimish Maheshwari

Real Estate (Q2FY26 Results Preview): Sustenance to drive presales momentum

Following the strong price surge and record sales of FY24/25, the Indian real estate market is entering a phase of mature, steady growth in FY26

HDFC Securities

Indian real estate developers see H1FY26 with pre-sales up 47% to INR 73,100 crore. Structural consolidation, not just cyclical rally, as players...