In today’s briefing:
- Groww IPO Trading – Decent Overall Demand
- Quiddity Leaderboard BSE SENSEX Dec25: Final Expectations; Announcement Soon
- Fractal Analytics Pre-IPO: AI Play With Strong Fundamentals
- Insider Activity: Who Bought Their Own Stock in October?
- Trent Q2FY26: Growth Momentum Fades as Tier-II Mix Drags and Star Bazaar Slips
- KPIT: Improving Trajectory, H2FY26 Guided to Be Significantly Better
- India Tightens Trade Defences Across Rubber Spectrum
Groww IPO Trading – Decent Overall Demand
- Groww (1573648D IN) raised around US$747m in its India IPO. Groww, officially called Billionbrains Garage Ventures, is a direct-to-customer digital investment platform providing multiple financial products and services.
- With Groww, customers can invest and trade in stocks (including via IPOs), derivatives, bonds, mutual funds and other products. Customers can also avail margin trading facility and personal loans.
- We have looked at the company’s past performance and valuations in our previous notes. In this note, we will talk about the trading dynamics.
Quiddity Leaderboard BSE SENSEX Dec25: Final Expectations; Announcement Soon
- BSE SENSEX represents the 30 largest stocks listed in the Bombay Stock Exchange (BSE) of India.
- In this insight, we have presented our final expectations for ADDs and DELs for the upcoming semiannual index rebal event in December 2025.
- The official index changes could be announced publicly in the next few days.
Fractal Analytics Pre-IPO: AI Play With Strong Fundamentals
- Fractal Analytics Ltd (2453623D IN) is looking to raise US$560m in its upcoming India IPO.
- Fractal Analytics Limited (FAL) is an enterprise AI company which supports large global enterprises with data-driven insights and assists them in their decision making through its end-to-end AI solutions.
- In this note, we look at the company’s past performance.
Insider Activity: Who Bought Their Own Stock in October?
- We highlight large and small cap companies that experienced significant insider buying during October 2025, as reported on the stock exchanges.
- October 2025 saw fewer companies reporting insider buying due to silent period before reporting their half yearly results.
- Promoters of few companies had made the purchase in September but reported on exchanges in the month of October.
Trent Q2FY26: Growth Momentum Fades as Tier-II Mix Drags and Star Bazaar Slips
- Trent reported a 17% YoY rise in Q2FY26 revenue to INR 4,724 crore, while PAT grew 6%. Star Bazaar saw a 2% decline due to ongoing upgrades and stronger competition.
- Efficient cost control and technology-driven productivity helped maintain margins despite slower same-store sales and expansion into lower-yield Tier-II cities.
- Trent’s steady execution and well-diversified retail portfolio support its medium-term growth outlook, though high valuations and increasing operating costs remain key risks to monitor.
KPIT: Improving Trajectory, H2FY26 Guided to Be Significantly Better
- Despite macro challenges, KPIT delivered a decent Q2FY26 and is on track to post a much better H2FY26, led by reducing uncertainty and improving demand environment.
- More importantly, KPIT has been adding select capabilities that have been pivotal to building its differentiation and competitiveness. Its approach to move to solutions vs services has been yielding fruition.
- Deal wins came in strong in Q2FY26 at $232mm, well above the typical $150mm+ run-rate. Additionally, KPIT also won a mega $100mm+ deal.
India Tightens Trade Defences Across Rubber Spectrum
- ADD Probe into Rubber Glove Imports from Malaysia, Thailand
- Finance Ministry imposes new duty on insoluble sulphur
- DGTR Recommends Continuation of Duties on NBR Imports
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
