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Showing 31 of 360 ·India ×Next 90 days ×Clear all
October 202611 locks resolved
| Ref | The locked call | Resolves | Status |
|---|---|---|---|
| P-222 | SBI Life Q2 FY2027 APESBI Life Q2 FY27 APE ≥₹4,800cr (quarter alone; APE not GWP or VoNB) — ~0.93HIT, with a basis note — locked SBI Life Q2 FY2027 APE of at least ₹4,800 crore for the quarter alone. SBI Life publishes APE year to date only: H1 ₹11,750 crore less Q1 ₹5,380 crore gives about ₹6,370 crore for Q2, 33% above the floor. No reading of the published figures produces a miss.India | 24 Oct 2026locked 27 Aug 2026 | Hit |
| P-232 | Dr Reddy's Q2 FY2027 revenue from operationsDr Reddy's Q2 FY2027 CONSOLIDATED revenue from operations ≥ Rs 7,400 crore (LEVEL locked — sources conflict on the YoY rate) — ~0.93HIT — locked Dr Reddy's Q2 FY2027 consolidated revenue from operations of at least ₹7,400 crore (a level lock, because sources conflicted on the YoY rate). Dr Reddy's reported ₹8,697.8 crore (IFRS headline ₹8,670.8 crore), above the floor on either basis.India | 24 Oct 2026locked 29 Aug 2026 | Hit |
| P-216 | IndiGo Q2 FY2027 revenueIndiGo Q2 FY27 revenue from operations ≥₹19,000cr (seasonal trough; revenue not profit) — ~0.92HIT — locked IndiGo Q2 FY2027 revenue from operations of at least ₹19,000 crore in the seasonal trough. InterGlobe Aviation reported ₹23,363.8 crore on 29 Oct 2026. A revenue lock, not a profit lock.India | 23 Oct 2026locked 26 Aug 2026 | Hit |
| P-304 | Hindustan Unilever Q2 FY2027 EBITDA marginHUL Q2 FY2027 EBITDA MARGIN >= 22.0% (guided 22.5-23.5%; revenue AND the DIRECTION of profit conflict across sources, margin does not) — ~0.92HIT — locked Hindustan Unilever's Q2 FY2027 EBITDA margin at or above 22.0%. HUL reported a consolidated EBITDA margin of 22.6% on 28 Oct 2026 (22.43% on the same basis as the Q1 22.76% the lock cited): the narrowest margin in this batch, 0.4-0.6 points clear.United KingdomIndia | 23 Oct 2026locked 3 Sep 2026 | Hit |
| P-329 | Nestlé India Q2 FY2027 REVENUENestlé India Q2 FY2027 REVENUE >= INR 5,900 crore (Q1 INR 6,378.18cr; +25.16% was the fastest in FORTY quarters — so we lock the LEVEL, not the rate; profit reported as both INR 958.68cr and INR 975cr) — ~0.92HIT — locked Nestlé India Q2 FY2027 revenue of at least ₹5,900 crore, a level lock chosen because Q1's +25% was a forty-quarter record. Nestlé India reported revenue from operations of ₹6,788.34 crore.India | 23 Oct 2026locked 3 Sep 2026 | Hit |
| P-305 | UltraTech Q2 FY2027 consolidated sales volumesUltraTech Q2 FY2027 CONSOLIDATED sales volumes >= 36.0 Mt (Q1 41.31 Mt; domestic 39.2 Mt is 2.1 Mt lower and EXCLUDED; Q2 is the monsoon quarter) — ~0.90HIT — locked UltraTech Q2 FY2027 consolidated sales volume of at least 36.0 Mt in the monsoon quarter. UltraTech reported 38.22 Mt, measured on the same basis as Q1's 41.31 Mt. Domestic grey cement alone was 35.94 Mt, just under the floor; the criterion named consolidated volume and excluded the domestic line.India | 22 Oct 2026locked 3 Sep 2026 | Hit |
| P-334 | Havells India Q2 FY2027 REVENUEHavells India Q2 FY2027 REVENUE FROM OPERATIONS >= INR 5,600 crore (Q1 INR 6,518cr but Q1 is the SUMMER COOLING PEAK — 14% buffer; PAT fell 16.64% on doubled A&P spend) — ~0.91HIT — locked Havells India Q2 FY2027 revenue from operations of at least ₹5,600 crore, buffered 14% below a summer-peak Q1. Havells reported consolidated revenue from operations of ₹6,431.99 crore (standalone ₹6,416.62 crore).India | 22 Oct 2026locked 3 Sep 2026 | Hit |
| P-317 | Axis Bank Q2 FY2027 NET INTEREST INCOMEAxis Bank Q2 FY2027 NET INTEREST INCOME >= INR 13,800 crore (Q1 NII INR 14,646cr; profit +22.5% was driven by provisions FALLING 43.7% while GNPA rose 1.23%→1.28%) — ~0.92HIT — locked Axis Bank Q2 FY2027 net interest income of at least ₹13,800 crore. Axis reported standalone NII of ₹15,371 crore, 11.4% above the floor. Locked on NII rather than profit because provisions, not the bank, were driving profit.India | 20 Oct 2026locked 3 Sep 2026 | Hit |
| P-325 | Wipro Q2 FY2027 IT SERVICES revenueWipro Q2 FY2027 IT SERVICES revenue >= US$2.50bn (guidance US$2.574-2.627bn, a ONE-QUARTER-AHEAD absolute dollar range; contrast P-319 HCLTech's full-year % guide) — ~0.93HIT — locked Wipro Q2 FY2027 IT services segment revenue of at least US$2.50bn. Wipro reported US$2,611.5m, inside its own US$2.574-2.627bn one-quarter-ahead guidance.India | 16 Oct 2026locked 3 Sep 2026 | Hit |
| P-221 | ICICI Lombard Q2 FY2027 GDPIICICI Lombard Q2 FY27 GDPI ≥₹7,500cr (premium not profit; GDPI not GPW) — ~0.93MISS — locked ICICI Lombard Q2 FY2027 GDPI of at least ₹7,500 crore (~0.93). The company reported GDPI of ₹67.92bn (₹6,792 crore) on 14 Oct 2026, up only 3.0% against 7.0% for the industry as crop and mass health contracted. It also misses on the n basis (₹72.84bn). Published as a miss.India | 15 Oct 2026locked 27 Aug 2026 | Miss |
| P-220 | Bajaj Finance Q2 FY2027 AUMBajaj Finance Q2 FY27 consolidated AUM ≥₹5.6 lakh crore (vs ₹5,46,944cr at Q1) — ~0.94HIT — locked Bajaj Finance Q2 FY2027 consolidated AUM of at least ₹5,60,000 crore. The 3 Oct 2026 business update reported about ₹5,84,750 crore (the later results deck: ₹5,84,624 crore), above the floor on either figure.India | 3 Oct 2026locked 27 Aug 2026 | Hit |
August 20263 locks resolved
| Ref | The locked call | Resolves | Status |
|---|---|---|---|
| P-22 | India Q1 FY27 GDPQ1 FY27 real GDP inside the 6.3–7.3% YoY bandMISS — locked the 6.3–7.3% band; MoSPI printed 7.8% YoY for Q1 FY27 on 31 Aug 2026 (real GDP Rs 81.36 lakh crore vs Rs 75.46 lakh crore). Above the band, so a miss under our own band rule even though the direction was right — the same failure as P-05. The band was set around the RBI's own 7% projection and the economy beat it: manufacturing 9.2%, real GVA +8.2%. We were not bearish, we were insufficiently bullish, and a band miss is a miss. We published it.India | 31 Aug 2026locked 21 Jun 2026 | Miss |
| P-04 | RBI August MPCHold 5.25% (0.91) · Neutral (0.95) · 6-0 (0.72)HIT (all three partitions) - RBI held repo 5.25%, retained the Neutral stance, unanimous 6-0.India | 5 Aug 2026locked 20 Jun 2026 | Hit |
| P-68 | Reliance Q1 FY27 revenueReliance Q1 FY27 consolidated revenue grows ≥ 5% YoYHIT - Reliance Q1 FY27 consolidated revenue +24.5% YoY, >=5%.India | 5 Aug 2026locked 21 Jun 2026 | Hit |
July 20264 locks resolved
| Ref | The locked call | Resolves | Status |
|---|---|---|---|
| P-93 | Infosys Q1 FY27Infosys keeps FY27 CC guidance floor ≥1.5% + Q1 rev ≥$4.9bn — ~0.85HIT - Infosys kept its FY27 CC growth floor at 1.5% (narrowed to 1.5-3.0%) and Q1 revenue was $5.08bn (>=$4.9bn).India | 23 Jul 2026locked 24 Jun 2026 | Hit |
| P-35 | HDFC Bank Q1 FY27 PATQ1 FY27 standalone PAT > ₹18,155cr one-off-inflated base — ~0.60HIT - HDFC Bank Q1 FY27 standalone PAT ~INR 19,060cr, >INR 18,155cr.India | 20 Jul 2026locked 21 Jun 2026 | Hit |
| P-03 | India June CPIHeadline 4.6% YoY (above ~4.5% consensus)MISS - locked 4.6% (above the ~4.5% consensus); India June CPI printed 4.38%, below both.India | 13 Jul 2026locked 20 Jun 2026 | Miss |
| P-43 | TCS Q1 FY27 USD revenueQ1 FY27 consolidated USD revenue in $7.55–7.85BHIT - TCS Q1 FY27 USD revenue ~$7.58bn, inside $7.55-7.85bn.India | 9 Jul 2026locked 21 Jun 2026 | Hit |
November 202612 locks resolving
| Ref | The locked call | Resolves | Status |
|---|---|---|---|
| P-296 | Bharti Airtel Q2 FY2027 revenueBharti Airtel Q2 FY2027 CONSOLIDATED REVENUE >= Rs 55,000 crore (Q1 Rs 58,539cr; EBITDA vs EBITDAaL differ ~Rs 3,800cr so revenue is locked) — ~0.92India | 5 Nov 2026locked 3 Sep 2026 | Locked |
| P-310 | SBI Q2 FY2027 STANDALONE net profitSBI Q2 FY2027 STANDALONE net profit >= INR 19,000 crore (Q1 standalone INR 21,121cr vs CONSOLIDATED INR 24,113cr — both reported as net profit) — ~0.91India | 5 Nov 2026locked 3 Sep 2026 | Locked |
| P-233 | Max Healthcare Q2 FY2027 network gross revenueMax Healthcare Q2 FY2027 NETWORK GROSS REVENUE ≥ Rs 2,850 crore (network line, NOT the consolidated line ~Rs 600cr lower) — ~0.94India | 6 Nov 2026locked 29 Aug 2026 | Locked |
| P-302 | Titan Q2 FY2027 consolidated total incomeTitan Q2 FY2027 CONSOLIDATED TOTAL INCOME >= Rs 18,000 crore (Q1 Rs 20,753cr on Akshaya Tritiya; jewellery segment Rs 18,253cr sits beside the threshold and is EXCLUDED) — ~0.91India | 6 Nov 2026locked 3 Sep 2026 | Locked |
| P-327 | Hero MotoCorp Q2 FY2027 EBITDAHero MotoCorp Q2 FY2027 EBITDA >= INR 1,450 crore (Q1 EBITDA INR 1,727cr; profit reported BOTH down 17% and up 29%; the 14-16% margin band is MEDIUM-TERM, not FY27 guidance) — ~0.90India | 6 Nov 2026locked 3 Sep 2026 | Locked |
| P-335 | Power Grid Q2 FY2027 CONSOLIDATED net profitPower Grid Q2 FY2027 CONSOLIDATED net profit >= INR 3,200 crore (Q1 consolidated INR 3,598cr vs standalone INR 3,411cr; income ROSE while profit FELL 0.9%) — ~0.92India | 9 Nov 2026locked 3 Sep 2026 | Locked |
| P-318 | NTPC Q2 FY2027 STANDALONE PATNTPC Q2 FY2027 STANDALONE PAT >= INR 4,800 crore (Q1 standalone INR 5,342cr vs CONSOLIDATED INR 6,896cr; the 9,557 MW FY27 capacity target could not be pinned to a basis) — ~0.91India | 10 Nov 2026locked 3 Sep 2026 | Locked |
| P-326 | Tata Steel Q2 FY2027 CONSOLIDATED EBITDATata Steel Q2 FY2027 CONSOLIDATED EBITDA >= INR 6,000 crore (Q1 consolidated INR 9,370cr but India STANDALONE INR 9,409cr — standalone HIGHER; Netherlands EUR 4m on EUR 1.4bn; war cost INR 1,200cr) — ~0.90India | 11 Nov 2026locked 3 Sep 2026 | Locked |
| P-311 | Jaguar Land Rover Q2 FY2027 revenueJaguar Land Rover Q2 FY2027 revenue >= GBP 5.0bn (Q1 GBP 6.0bn, wholesales -10%, disclosed supply disruption; Tata Motors Q1 PAT reported as BOTH INR 775cr and INR 900cr) — ~0.89India | 12 Nov 2026locked 3 Sep 2026 | Locked |
| P-234 | Samvardhana Motherson Q2 FY2027 consolidated revenueSamvardhana Motherson Q2 FY2027 CONSOLIDATED revenue from operations ≥ Rs 33,000 crore (Q1 record Rs 35,243.8cr) — ~0.92India | 13 Nov 2026locked 29 Aug 2026 | Locked |
| P-341 | Apollo Hospitals Q2 FY2027 CONSOLIDATED revenueApollo Hospitals Q2 FY2027 CONSOLIDATED revenue >= INR 6,500 crore (Q1 consolidated INR 7,043cr vs Healthcare Services INR 3,567cr; PAT growth reported as BOTH +34% and +38.4%) — ~0.92India | 13 Nov 2026locked 4 Sep 2026 | Locked |
| P-342 | Novelis Q2 FY2027 ADJUSTED EBITDANovelis Q2 FY2027 ADJUSTED EBITDA >= US$400m (Q1 US$516m; parent Hindalco group EBITDA INR 14,989cr +73% on record aluminium margins was DECLINED as an LME bet; EBITDA growth reported as both +24% and +37%) — ~0.90India | 13 Nov 2026locked 4 Sep 2026 | Locked |
December 20261 lock resolving
| Ref | The locked call | Resolves | Status |
|---|---|---|---|
| P-102 | Nifty 50 year-end 2026India Nifty 50 closes 2026 ≥ 22,000 (vs ~24,022 spot) — ~0.80India | 31 Dec 2026locked 25 Jun 2026 | Locked |