Kerbside

Arvind DSIJ / 11 Jun 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

HIDDEN VALUE PLAY [EasyDNNnews:PaidContentStart]

IFCI Ltd.
BSE Code: 500106
CMP: ₹77.03 

IFCI has suddenly found itself back on traders’ radar, with seen outperforming in the recent times. The excitement is not coming from any major turnaround in its lending business. Instead, the street is playing a value-unlocking theme linked to the long-awaited NSE IPO. The trigger lies in IFCI’s holding in Stock Holding Corporation of India Ltd. IFCI owns 52.86 per cent in SHCIL, while SHCIL holds around 4.4 per cent stake in NSE. As NSE moves ahead with its listing process, investors are trying to price the potential value of this indirect exposure. The bet is simple: if NSE commands a strong valuation post-listing, SHCIL’s investment value could rise sharply, and IFCI may benefit as the majority shareholder. For now, the rally is more about hidden asset value and market expectations than core business performance. 

CAPITAL APPRECIATION OPPORTUNITY 

Tata Capital Ltd.
BSE Code: 544574
CMP: ₹322.45 

Tata Capital is quietly coming back on investors’ radar as Tata Sons-related developments gather pace. The link is not direct, but it is important. Tata Sons holds nearly 79 per cent in Tata Capital, making it one of the cleanest listed plays on the Tata Group’s financial services ambitions. With the Tata board meeting in focus, any discussion around capital allocation, governance or value unlocking could revive interest in the stock. Fundamentally, the story has support too. Tata Capital has delivered healthy AUM growth, strong profit expansion and stable asset quality. For investors, the attraction lies in a large Tata-backed NBFC trading close to its IPO zone, where better visibility can quickly change market perception. 

PROFITABLE CUSHION 

Sheela Foam Ltd.
BSE Code: 540203
CMP: ₹681.30 

Sheela Foam may not be making much noise on the Street, but the business appears to be quietly moving past its most difficult phase. The company, known for its Sleepwell brand, had faced pressure after acquiring Kurlon for `2,035 crore in 2023, as integration issues, higher depreciation and rising interest costs weighed on profitability. That pain now seems to be easing. It is visible in the numbers, with EBITDA margin recovering to 10.8 per cent in FY26 and debt falling to `712 crore. The next leg depends on execution. The company plans to expand its exclusive outlet network to 10,000 stores over four years, while rural and affordable mattresses remain key volume drivers. For investors, this is a recovery story where earnings need to catch up with the business reset. 

SCRAP TO GOLD 

 

MSTC Ltd.
BSE Code: 542597
CMP: ₹545.10 

MSTC is no longer just an old-school PSU auction platform; it is slowly turning into a digital gateway for India’s circular economy. The company’s core e-commerce business remains the money-spinner, with FY26 gross transaction value at `79,737 crore and revenue from operations at `359.33 crore, the highest in four years. EBITDA also rose to `307.49 crore, showing the strength of its asset-light auction model. The bigger buzz, however, is around vehicle scrappage. India’s End-of-Life Vehicles are expected to rise from nearly 23 million in 2025 to close to 50 million by 2030. MSTC’s 50:50 JV with Mahindra, CERO, gives it a direct seat in this formal recycling opportunity. With EPR rules, RVSFs and the V-Scrap ecosystem gaining ground, MSTC could be sitting on a long-term scrap-to-value story. 

(Closing price as of June 09, 2026)

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