Tale of the Tape 

Hola Amigos! We’re halfway through the week. 

Markets barely moved. Nifty and Sensex ended another range-bound session with minor gains. Uncertainty around the US-India trade deal, weaker rupee and muted earnings kept investors on the sidelines. Broader markets also felt some of this as Midcaps ended flat while Smallcaps dipped -0.5%. The advance decline ratio was split evenly. Most sectors ended in the red particularly Real Estate (-1%) stock were down the most. 

Today’s edition covers earnings analysis of L&T and KPIT Tech, DMart’s aggressive expansion plans, Sri Lotus Developer’s IPO and Tata Motor’s ambitious $4.5 billion shopping target. 

Honorable Mentions:

Schneider Electric will buy out private equity giant Temasek’s stake in the India JV for a whopping $6.4 billion. The stock was locked in a 5% upper circuit. MOIL dropped -7% after its Q1 operating margins halved YoY. GNG Electronics kicked off its Dalal Street debut in style; closing at Rs 355 p/sh (+50% from its IPO price).

Check out the NSE500 heatmap:

Stock
DMart Is Lit AF!

Avenue Supermarts or DMart rallied +8% intraday after the company made super bullish comments during its analyst meet today. The value retail king reassured investors that it's sticking to its winning formula while going full throttle on expansion.

Here's the big picture. DMart currently has 426 stores and plans to expand by 10-15% annually. That means roughly 40-60 new stores every year. They're particularly focused on North India, where they see massive untapped potential. 

CEO Neville Noronha believes India is at the “cusp of multi-decade growth”, and DMart is well-positioned to ride that wave. The company wants to grow its store count across India and enter new product categories that fit its value-retail model. 

Despite all the buzz around quick commerce, DMart isn’t changing its playbook. While everyone else is burning cash on 10-minute deliveries, DMart is sticking to its 3-6 hour delivery model - staying true to the company’s low-cost, high-efficiency DNA. 

I know what you're thinking: Isn't quick commerce a threat? The management doesn't think so. They believe their focus on value and consistency will keep them relevant for decades. Noronha said differentiation is "overplayed and overcelebrated" while consistency is the real driver of competitive advantage in value retail. Translation: sometimes boring is beautiful. 

The market clearly liked what it heard. After a not-so-great Q1 earnings report, this was all the ammo the stock needed. Let’s see how this plays out.

Specials
Eternal - Buy Now or Wait For Dip?

Eternal is trading at all-time highs after rallying +50% in the last 6 months. But is it still a buy at current levels or should you wait for a dip?

Check out our latest video where we break down all the key updates covering its latest Q1 results, industry landscape, earnings trend and more.