Prabhat Jha

India’s IT sector stands at an inflection point — transitioning from a decade of linear outsourcing growth to a new era of AI-led, platform-driven, and innovation-centric value creation. The near-term (FY26) environment is challenging but navigable: large-caps will deliver modest 4-7% growth while mid-caps outperform at 15-30%.

Kirloskar Oil Engines Limited stands at an inflection point — transitioning from a traditional genset manufacturer to a multi-segment energy solutions enterprise with exposure to India’s most exciting structural growth themes: data centres, defence indigenization, nuclear energy, and global export markets.

Based on our comprehensive analysis of Lloyds Engineering Works Limited’s financials, business momentum, order pipeline, and sector dynamics, we initiate coverage with an ACCUMULATE rating.

This equity research report evaluates the investment potential of GMR Airports Limited, recommending an accumulate rating based on strong growth forecasts.