Kerbside

Arvind Manor / 22 Jan 2026 / Categories: DSIJ_Magazine_Web, DSIJMagazine_App, Informed Intelligence, Kerbside, Regular Columns

Kerbside

The recommendations provided in this column are taken from various market sources such as brokers, analysts, dealers and investment strategists, etc. These recommendations may not be backed by strong fundamentals. Therefore we advise readers to use their own discretion before investing in these recommendation

DEALS DOING THE TALKING [EasyDNNnews:PaidContentStart]

HCL Technologies
BSE Code: 532281
CMP: ₹1,690.75 

HCL Technologies surprised on the upside in Q3FY26, delivering 4.2 per cent QoQ constant currency revenue growth, comfortably ahead of estimates. Growth was broad-based across IT services, software and ER&D, underlining improving demand quality. The real kicker was deal momentum: USD 3 bn of TCV, including a USD 473 mn AI-led mega deal with a global apparel retailer. Encouraged by the pipeline, management upgraded FY26 services growth guidance while keeping EBIT margins intact at 17–18 per cent, absorbing restructuring and regulatory costs. Street chatter points to a structural shift in client behaviour: while discretionary IT budgets remain tight, spending on AI Factory infrastructure, GenAI and Agentic AI is moving to the front of the queue. Financial Services and Technology verticals continue to show resilience, improving earnings visibility. 

RANGE BREAK BREWING
 
Jindal Steel
BSE Code: 532286
CMP: ₹1039.10 

Jindal Steel is one  of India’s leading primary  steel producers,  with  a significant  presence in  power  generation  and  mining. The stock has been stuck in a tight range, but the tape is beginning to look constructive. Street chatter from a big brokerage’s technical desk is turning bullish for the short-to-medium term, with the view that price action is setting up for a move higher. The trigger, they say, is a strong bullish candle emerging near key moving-average support, suggesting buyers are defending levels. If this momentum holds, the next leg could come quicker than the crowd expects. 

QUIET COMPOUNDING, CLEANER BOOK

Federal Bank
BSE Code: 500469
CMP: ₹273.05 

Federal Bank’s Q3FY26 print had the feel of a franchise tightening the screws and letting the engine do the work. Margins moved up again, aided by softer funding costs, better traction in low-cost deposits and a continued tilt towards mid-yield segments. Loan growth stayed healthy, with momentum visible in commercial and business banking, while gold loans provided a steady kicker. Deposits also expanded well, and the mix improved, pointing to stronger granular stickiness rather than expensive catch-up funding. The bigger comfort came from asset quality. Stress pockets in microfinance are easing, credit costs have moderated, and headline NPAs improved, supporting steadier profitability. Market chatter is that this is turning into a “boring is beautiful” bank: improving core metrics, cleaner book and better earnings visibility without the drama. 

NUMBERS COULD DO THE TALKING

CRISIL BSE Code: 500092 CMP: ₹4,749.60 

CRISIL is one of those “quiet power” franchises: a global, insights-led analytics and ratings player where rigour, data depth and domain expertise are the real moat. In a market that’s noisy, CRISIL’s business is built on being precise, trusted and sticky with clients who cannot afford wrong calls. The stock has been steady, but the chatter doing the rounds is that the upcoming results could surprise on the upside, and that is usually when momentum traders wake up. If the print is clean and commen tary confident, the tape can turn quickly. Not a hype story, more a credibility-and-consistency play. 

(Closing price as of January 20, 2026) 

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