Value Research Online

SEBI moves to end the expiry-day lottery

Mon, 14 Sep 2026 14:16:58 +0530

The closing auction set stock prices better, but it turned expiry days into a lottery for options traders. SEBI's new paper proposes a blended closing price.

Purple Style Labs: Fewer customers, bigger losses

Mon, 14 Sep 2026 12:23:55 +0530

Purple Style Labs listed below its issue price, though the debut is the least of it: a shrinking designer network, fewer customers and losses widening every year.

Why is one Birla entry rattling India's cable makers?

Fri, 11 Sep 2026 13:22:38 +0530

Aditya Birla's Ultravolt has rattled Polycab, Havells, KEI and RR Kabel stocks. Here's why the cables and wires sell-off echoes the Birla Opus paint playbook.

Rentomojo IPO: Real profits, rich price

Thu, 10 Sep 2026 09:00:00 +0530

Rentomojo IPO opens with a profitable category leader that turns almost none of its profit into cash. What that means for the price band before you apply.

Fortis vs Aster: Two hospital chains, two growth bets

Wed, 09 Sep 2026 13:02:14 +0530

Fortis Healthcare and Aster DM earn similar profits at similar valuations, but Aster runs nearly twice the beds. A look at what each needs to prove from here.

The growth the market missed

Tue, 08 Sep 2026 18:03:04 +0530

Profit can fall on paper while a business earns more. Here, we explain the three checks that show when a falling profit number is misleading you.

Swaraj Engines: A great business with growth hurdles

Tue, 08 Sep 2026 09:27:20 +0530

Swaraj Engines has high returns, no debt and a captive customer in Mahindra. But at 22 times earnings, its next capacity expansion may leave little room for error.

When shareholders earn more than the business does

Fri, 04 Sep 2026 16:34:48 +0530

ROE can exceed ROCE when debt boosts shareholder returns. See how leverage, taxes, non-operating income and a small equity base can widen the gap.

VIP was winning. Then Safari changed the game

Thu, 03 Sep 2026 17:06:51 +0530

Safari and VIP started with a wide gap in scale, but Safari is now larger and more profitable. See how strategy, inventory and execution changed the race.

5 equity funds just earned a perfect five-star rating

Thu, 03 Sep 2026 15:16:09 +0530

Five equity funds have earned a perfect five-star Value Research rating this month. See which funds made the cut and what drove their top scores.

BlueStone's profit is real. It now faces the hard part

Wed, 02 Sep 2026 15:29:57 +0530

BlueStone has turned profitable after 14 years of losses, but weak cash flow and high inventory needs raise questions about its growth plans and valuation.

Ion Exchange had a weak Q1. Then why did its stock jump 10%?

Tue, 01 Sep 2026 17:27:12 +0530

Ion Exchange’s Q1 profit fell despite 20 per cent revenue growth. Here’s why investors are looking past weak project economics and betting on a recovery.

Growth that goes nowhere

Tue, 01 Sep 2026

Rapid revenue and profit growth can look impressive, but growth that earns poor returns on capital may leave shareholders no richer. Here's what to look for.

10 growth stocks that compound

Tue, 01 Sep 2026

These 10 growth stocks combine strong growth with efficient capital use and reasonable valuations. See why not every fast-growing company creates wealth.

How to (not) use AI for stock investing

Tue, 01 Sep 2026

AI can speed up stock research, but it cannot judge valuation or make the final call. Here’s how investors should use AI for better investment decisions.

HUL's expensive ascent

Tue, 01 Sep 2026

HUL remained profitable, cash-rich and capital-efficient. So why did its stock deliver poor returns? The answer lies in how far investors pushed its valuation.

Rather late than wrong

Tue, 01 Sep 2026

A strong earnings quarter can hide one-off gains. Here are four checks investors should make to separate recurring business growth from temporary profit.

The hidden DCF

Tue, 01 Sep 2026

A stock’s P/E ratio quietly embeds assumptions about growth, returns and risk. Here’s why a low multiple may not mean cheap and a high one may not mean expensive.

Monopoly held. Maths didn't

Tue, 01 Sep 2026

IRCTC still dominates railway ticketing and remains debt-free. So why has its stock fallen over 50 per cent? The answer lies in what is driving its growth.

The feel-good factory

Tue, 01 Sep 2026

SJS Enterprises is riding India's premiumisation trend with a strong moat and a debt-free balance sheet. But at 48 times earnings, is too much growth already priced in?