Rounaq Bakshi notes

Epack Durable: YES Securities sees 50% upside in this 'undervalued' stock   and arrives at a target price of ₹545 Epack Durable stock , OEM/ODM manufacturer of living appliances, serving major consumer brands, with a 'Buy' rating, citing its commendable value prop including strategic partnerships with key players, robust manufacturing capabilities and prudent capacity expansion, focusing on components manufacturing resulting in backward integration, customer addition, and new product launches and improving margin trajectory.   "We stay bullish on the RAC and the Kitchen space as in the medium term, led by factors like strong realty-infused demand, recent GST rate cuts, growing share of organised sector, and Govt impetus towards manufacturing and export boost will drive growth. The company’s enviable value prop should help it outperform the industry in good time," the brokerage said. Manufacturing expansion and product diversification:  Epack is scaling up its ...

Optiemus Infracom: Electronics Manufacturing Services (EMS)  Trusted manufacturing partner for leading global electronics brands, delivering precision, quality and scalability across multiple product categories.  Partner of Choice for Global Brands Expanded production capacity in exiting facilities to deliver rising demand from strategic brand partners, ensuring scale alongside clients' growth ambitions.  Capacity Expansion Successfully delivered the first shipment of OnePlus Bullets Wireless Z3 Bluetooth Earphones this quarter, demonstrating our capability to launch new products at scale.  OnePlus Partnership EMS capabilities now include a powerful and clearly defined roadmap in wearables and hearables.  Advancing these categories to an entirely new level, driven by innovation, scale, and operational excellence. journey continues in partnership with the world’s top brands. India’s electronics manufacturing landscape is set for a historic transformation with the...

  Park Medi World: IPO stock Haryana-based Park Medi World, the operator of the Park Hospitals network across North India, opened its  ₹920-crore IPO  for public subscription The healthcare chain aims to strengthen its balance sheet, accelerate expansion, and improve profitability over the next three years. The IPO is priced between ₹154 and ₹160 per share, comprising a ₹770-crore fresh issue and a ₹150-crore offer for sale.  A large portion of the proceeds will go toward debt reduction, positioning the company for a debt-free future. Sanjay Sharma, Group CEO & Whole-Time Director of Park Medi World said the company will repay about ₹380 crore of debt from the fresh issuance.  With total existing debt at around ₹425 crore, Park Medi World will effectively become a net cash company post listing.  This shift is expected to save around ₹15 crore annually in interest costs, directly enhancing profits. Additionally, ₹88 crore will be allocated for medical eq...

  Indian electronics manufacturers are expected to get preferential access to a nearly $750 billion electronics market in the European Union “Duties on imported machinery, such as lithography equipment, wafer cutting tools, and automatic test equipment are expected to drop from previous highs of 40-44% down to zero,” said Ashok Chandak, President IESA. This will be a major boost for the semiconductor fab and OSAT sectors as India imports all of these machines from other countries. Chandak added that there is a strong opportunity to integrate into the European supply chain for automotive and industrial electronics. Companies like Bosch, Continental, and Schneider have a manufacturing presence in the EU, creating demand for Indian-made components like PCBs and connectors. "With India’s electronics exports to the EU already at around USD 12 billion, preferential access to the EU’s nearly USD 750-billion electronics market creates a powerful runway for growth in line with India’s stra...

  Power Grid Corporation of India: 3% with retail Large network of transmission assets with satisfactory operational performance -As on September 30, 2025, PGCIL owned transmission lines of 1,81,054 circuit kilometres (ckm)and 287 substations with transformation capacity of 5,82,516 MVA on a consolidated basis (including subsidiaries). Overall, as of September 2025, PGCIL owns ~84% of the inter-regional capacity of the country. It has demonstrated consistently high system average availability of 99.83% in the last two financial years against the minimum target of 98%, as per the CERC norms, ensuring the recovery of annual transmission charges and earning incentive for the availability being higher than the normative levels. Cost-plus tariff for majority assets ensures healthy return on equity -The company generates stable revenues and cash flows as a significant portion (~ 94.5% of its revenues) of the transmission assets are commissioned under the cost -plus tari...

  INDOFARM: Smallcap IPO Indo Farm Equipment Limited has entered into a strategic partnership with Sichuan Hongsheng Heavy Machinery Co. Ltd, China, to acquire advanced technology for the manufacturing of tower cranes.  This collaboration, facilitated through Beida Commercial & Trade Company, strengthens Indo Farm’s technical capabilities in the crane segment.  Sichuan Hongsheng brings over 40–50 years of industry expertise and is widely recognized in the crane technology space.  Their technology features advanced mechanical systems and innovative jib designs, supporting higher lifting capacities and extended horizontal reach—essential for the needs of modern construction. In FY 2024-25, Indo Farm’s revenue from cranes rose significantly to ₹22,505 lakh, surpassing tractor revenues of ₹14,172 lakh. This marks a clear year-on-year increase from ₹16,837 lakh in crane revenue in FY 2023-24, demonstrating strong market demand and focused strategy. The global construc...