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Cello World: Initiating Coverage with an UPSIDE of 15% | One up on houseware street; We estimate 15%/18%/17% revenue/EBITDA/PAT CAGRs over FY2024-27E

Muthoot Finance: ADD | 10% UPSIDE | Poised for market share gains

Federal Bank: BUY | 19% UPSIDE | Well-positioned

Kalpataru Projects: ADD | 4% UPSIDE | Diversifying beyond T&D with a large Middle East gas order

CEAT: SELL | 41% DOWNSIDE | Takeaways from the CEAT plant visit

Real Estate: Residential real estate – getting better | DLF, Lodha and Prestige are our preferred picks

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