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Suzlon Energy is primarily focused on manufacturing and OMS (operations and maintenance services) of wind turbine generators. Having more than two decades of experience, it has scripted OMS best practices, thus setting industry benchmarks that ensure operational efficiency across various climatic zones. The company released their consolidated quarterly results for September 2022, indicating that its net revenue was up by 6.16 per cent to stand at ₹1,430 crore on a year-on-year basis. The EBITDA level was up by 8.33 per cent from the previous quarter last year, standing at ₹208 crore. 
 

The company reported a net profit of ₹56 crore after witnessing a net loss of ₹13 crore from the corresponding quarter last year. Post the successful rights issue, the company was able to reduce its debt by ₹600 crore with the net debt currently standing at ₹2,139 crore. After a period of five years this has been the first quarter wherein the company has been able to report positive PAT on a purely operational basis. The stock had recently made a new 52-week high on December 20 of ₹12.19, but post that the stock witnessed some profit booking and slumped more than 24 per cent in three trading days. Looking at the market conditions currently, the stock could face some volatility despite improving fundamentals. Hence, we recommend HOLD.






Salasar Engineering Limited is a small-cap company established in 2006. It has a market capitalisation of ₹1,554.85 crore. The company has emerged as a fastgrowing steel structure manufacturer and engineering, procurement and construction (EPC) infrastructure company providing services across the telecom, energy and railway sectors. According to the financial performance of the company, on a consolidated quarterly basis its net sales and other operating income rose by 29.24 per cent to ₹258.73 crore in Q2FY23 as compared to ₹200.19 crore in Q2FY22. Operating profit stood at ₹21.06 crore in Q2FY23 as compared to an operating profit of ₹20.89 crore in Q2FY22, up by 0.8 per cent. The net profit was ₹7.51 crore in Q2FY23 as compared to a net profit of ₹10.02 crore in Q2FY22, which plunged by 25.03 per cent. On an annual basis, net sales and other operating income soared by 20.5 per cent from ₹596.59 crore in FY21 to ₹718.86 crore in FY22. Furthermore, net profit soared by 5.2 per cent from ₹29.90 crore in FY21 to ₹31.46 crore in FY22. In five years, the stock’s CAGR is just 25 per cent. Also, promoters and public shareholders of the company have decreased their shareholding by 6.63 per cent and 5.55 per cent, respectively, as of September 2022, whereas FIIs have brought 12.18 per cent into the company. Hence, we recommend HOLD.






Since its establishment in 1978 in Hyderabad, Gland Pharmaceuticals has developed from a contract manufacturer of low-volume liquid parental products to one of the largest and fastest-growing manufacturers of generic injectables with a presence in more than 60 countries worldwide, including the United States, Europe, Canada, Australia, India and other markets. In addition to being promoted by Shanghai Fosun Pharmaceuticals, a major global pharmaceutical corporation, a strong presence across the value chain has assisted the company in experiencing exponential growth.
 

Taking into account the company’s financial performance, on a consolidated basis it reported a slight decline of 3.34 per cent from ₹1,080.47 crore registered in Q2FY22, recording total revenue of ₹1,044.40 crore in Q2FY23. Comparing the net profit for the second quarter of FY23 to the same quarter last year, it plunged 20.14 per cent from ₹302.08 crore to ₹241.24 crore. In terms of annual performance, the net profit of company soared 21.54 per cent to ₹1,211.66 crore from ₹996.96 crore the previous year. Net sales surged 27.08 per cent to ₹4,400.71 crore as against ₹3,462.88 crore during the previous year ended on March 2021.
 

The company was able to boost sales and profit margins annually despite reporting lacklustre performance on a quarterly basis. Currently the company has a market value of ₹25,950 crore. One of the company’s strengths is that foreign promoters hold a sizeable 57.86 per cent of the company’s shares, which reflects its strong financial backing. In comparison to its competitors, the company has a low PE and a high ROE. Although the shares have fallen sharply by about 60 per cent year-to-date and are currently trading close to a 52-week low, the continuing worsening of the pandemic situation has the opportunity to boost the stock. The stock’s 52-week high was ₹4,060, and it has the potential to reach previous highs. Hence, we recommend HOLD. 






Karur Vysya Bank, headquartered in Karur (Tamil Nadu), is one of India’s leading banks, having been in operations for more than 100 years. With 792 branches, more than 1,600 ATMs and roughly 590 cash deposit machines, it has a wide network across India. The bank primarily operates in the treasury, corporate banking wholesale banking and retail banking divisions.
 

The income from interest was reported at ₹1,579.48 crore for the second quarter of FY23, an increase of 12.99 per cent from ₹1,397.95 crore for the same period last year. From Q2FY22’s level of ₹1,562.61 crore to ₹1,821.05 crore in Q2FY23, the total income surged by 16.54 per cent. The bank had phenomenal growth in the second quarter of FY23, boosting its net profit by 51.24 per cent to ₹250.23 crore from ₹165.45 crore in the second quarter of FY22.
 

On a yearly basis, the bank reported interest income of ₹5,587.67 crore for FY22, up 2.14 per cent from ₹5,470.43 crore for FY21. In FY22, the bank reported a net profit of ₹673.27 crore, an outstanding increase of 87.34 per cent from the net profit of ₹359.39 crore in FY21. The market valuation of the bank is around ₹8,185 crore. Only 2.26 per cent of the bank was held by promoters, while institutions controlled 41.60 per cent, including a sizeable 22.09 per cent by mutual funds and a significant 16.49 per cent by foreign portfolio investors (FPI). The bank’s ability to maintain a high CASA ratio reflects its improved operating efficiency. It has the lowest PE and a relatively high ROE and ROCE among the top private sector banks. 
 

Additionally, it is a reliable stock for dividends. As one of the top multibaggers in the banking industry, the shares of Karur Vysya Bank have attracted investors by skyrocketing over 120 per cent in just the last six months. Given the optimistic outlook for the banking industry and the recent strong upswing in the stock, we recommend BUY.






Uflex is India’s largest multinational flexible packaging materials and solutions company and a global player in polymer sciences. Since its inception in 1985, Uflex has grown from strength to strength and has created a presence across all verticals of the packaging value chain. The company manufactures major packaging, printing and allied machines for customers across various industries as well. It has got clients from across the world which includes Coca-Cola, Nestle, Mondelez International, Amul, PepsiCo, Loreal, ITC, Britannia, Procter and Gamble, etc.
 

The company has released its consolidated quarterly results for September 2022, indicating that the net sales were up by 24.46 per cent to stand at ₹3,027.31 crore on a year-on-year basis. The EBITDA level was up by a healthy 16.18 per cent from the previous quarter last year, standing at ₹493.20 crore. The company reported a net profit of ₹190.72 crore witnessing a growth of 11.7 per cent from the corresponding quarter last year. The aseptic packaging sales volumes witnessed a massive increase of 149 per cent on a YoY basis. The company’s management, in its Q2FY23 conference call, stated that post the start of the Russia–Ukraine conflict, the energy crisis in Europe has affected their margins.
 

In line with their continued focus and investments in sustainability, they are in the process of commissioning their post–consumer recyclate (PCR) and multi–layered plastic (MLP) recycling facilities in Mexico and Poland. They have also commissioned a CCP packaging films plant with a capacity of 18,000 MTPA at Dharwad during the quarter. The company has earned an irreproachable reputation defining the contours of the packaging industry in India and overseas by providing end-to-end solutions to numerous Fortune 500 clients across various sectors in over 150 countries. Looking at your buying average of ₹787, the stock has witnessed a dramatic correction by more than 30 per cent. However, taking into consideration the fundamentals and prospects of the company, we recommend HOLD.






Larsen and Toubro Ltd. is a multinational conglomerate that is primarily engaged in providing engineering, procurement and construction (EPC) solutions in key sectors such as infrastructure, hydrocarbon, power, process industries and defence, information technology and financial services in domestic and international markets. According to the financial performance of the company, on a consolidated quarterly basis its net sales and other operating income rose by 22.98 per cent to ₹42,762.61 crore in Q2FY23 as compared to ₹34,772.90 crore in Q2FY22. Operating profit stood at ₹7,106.28 crore in Q2FY23 as compared to an operating profit of ₹6,018.41 crore in Q2FY22, up by 18.08 per cent. 
 

The net profit came in at ₹2,819.20 crore in Q2FY23 as compared to a net profit of ₹2,231.33 crore in Q2FY22, which soared by 26.35 per cent. On an annual basis, net sales and other operating income soared by 15.11 per cent from ₹135,979.03 crore in FY21 to ₹156,521.23 crore in FY22. The operating profit plunged by 1.15 per cent in FY22 at ₹26,436.92 crore as compared to ₹26,744.49 crore in FY21. Furthermore, net profit plunged by 20.27 per cent from ₹12,906.88 crore in FY21 to ₹10,291.05 crore in FY22. 
 

After India’s largest construction company recently agreed to sell its stake in L and T Infrastructure Development Projects, a top corporate executive announced that Larsen and Toubro Ltd. will now focus on investments in green energy, green hydrogen and new-age companies including data centres (L and T IDPL). As of September 2022, DIIs have increased their stake by 7.38 per cent. In the financial year 2022-2023, the company got orders of more than `20,000 crore from many governments and private companies for infrastructure development, EPC solutions and the IT sector. The company has planned major expansions for 2023-2024 which will increase its revenue and net profits. Hence, we recommend BUY.