Tale of the Tape 

Hey guys. Welcome back to the market of stocks!

Markets kicked off the week on a negative note, with the Nifty (-0.4%) and Sensex (-0.5%) closing down after a volatile session. On the other hand, Midcaps (+0.8%) and Smallcaps (+0.6%) continued their dream run. The advance-decline ratio was split evenly. Check out the Stocktwits Sentiment Meter:

Most sectors ended in the green. Real Estate (+3%) stocks stood head & shoulders above the rest. PSU Banks (+0.5%) and Pharma (+0.4%) also saw decent gains. Meanwhile, Metals (-1%) and IT (-0.7%) disappointed. 

Nobody remembers second place - but, Swiggy might just prove to be an exception, according to Axis Securities. Check out our top story below for all the details. 

International Gemological Institute of India’s Rs 4,225 cr IPO is open for subscription. Check out our analysis below to help you decide whether to apply or not?

Electronics manufacturing stocks are on fire. Dixon Tech, Kaynes Technologies and PG Electroplast rallied between 5%-11%. Check out their charts below. 

Aurobindo Pharma (+3%) was in focus. Global brokerage firm Goldman Sachs sees a +22% upside from current levels.

Paytm closed above the Rs 1,000-mark for the first time since Jan 2022. PS - the stock is +2.5x in the past 6 months! ICYMI - here’s our latest piece on Paytm breaking down this phenomenal run.

Wockhardt Pharma (+9%) hit a 9-year high after the successful trial of its revolutionary new drug used to control infectious diseases. 

Premier Energies (+6%) partnered with Global Munition to manufacture defence & aerospace products. 

Order wins. Afcons Infra (+3%) received a 1,007 cr order from the MP Metro rail corporation. HBL Power won a Rs 1,522 cr from the Indian Railways for its KAVACH anti collision system. 

Inventurus Knowledge Solutions IPO got oversubscribed +50x on the final day.

Here are the closing prints:

Stock
In Swiggy We Trust

There’s an un-popular saying that “nobody remembers second place” - but, Swiggy might just prove to be an exception, according to Axis Securities. Here’s why:

India’s quick commerce market is exploding. Axis estimates the industry’s gross order value to ~5x from $6.8 billion in FY25 to $30 billion in FY30. Swiggy’s Instamart is poised to ride this wave, fueled by dark store expansion and better product assortment. Food delivery, while underpenetrated, remains a duopoly. Swiggy Bolt—its ultra-fast food delivery service—could add another growth driver.

Instamart’s growing scale is translating into higher ad revenues and brand commissions. Swiggy is also optimizing costs across its q-com and food delivery businesses. While the latter is nearing profitability maturity, the former still offers scope for margin expansion through efficiency improvements

Swiggy has always been a strong innovator, pioneering food delivery and q-com in India. While it ceded leadership to Zomato in food delivery, recent organizational restructuring and a shift to a professionally-led model have strengthened its execution. A revamped leadership team and focus on ideation should help Swiggy stay competitive.

Even as Zomato leads the pack, Swiggy’s relentless innovation and operational improvements suggest it’s not just here to compete—but to win. Having said that, a consumption slowdown, rising competition in q-com, and slower-than-expected profitability ramp-up remain key concerns. PS - Axis Securities has a target price of Rs 640 p/sh; +8% after today’s massive jump.

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