Whalesbook
IRCTC: Online Ticketing Ka Raja, Lekin Policy Ka Risk!
IRCTC ka toh bolne ka hi nahi, Indian Railways ke online ticketing, catering, aur pani mein full monopoly hai. Unke Q3 FY26 results bhi mast rahe, revenue 18.2% badh kar ₹1,449 crore ho gaya aur profit 15.5% jump karke ₹394 crore pahunch gaya. Ticket booking mein 89% online hota hai, jisse unka profit bhi badhta hai. Catering mein bhi growth hai, Vande Bharat trains aur Rail Neer ke expansion se. Tourism toh 29% saal-dar-saal bhaga hai! Share price thoda gira hai policy risks ke karan, lekin ab valuation 20.6x EV/EBITDA par thoda normal lag raha hai, jo unke 5-saal ke average se kam hai. Analysts Strong Buy bol rahe hain aur target ₹796.67 de rahe hain, matlab 48.47% tak ka upside ho sakta hai. Par P/E ratio ~29.71x hai, jo industry average 17.5x se kaafi upar hai, matlab premium valuation hai.
Hindustan Zinc: Sona Bhi Kamao, Zinc Bhi!
Hindustan Zinc India ki zinc market mein ~75% share ke saath sabse bada player hai. Unke paas khud ke mines, integrated smelters, aur cost control ka funda hai. FY26 mein record business kiya, revenue 20% badh kar ₹40,844 crore aur profit 34% jump karke ₹13,832 crore ho gaya. Maza toh silver se aa raha hai, jo unke total profit ka 45% hai! Rajasthan mein ₹12,000 crore ka naya metals complex bhi bana rahe hain. EV/EBITDA 12x hai, jo historical average se thoda upar hai, lekin return ratios mast hain.
HAL: Defense Ka Super Star, Order Book Full!
Hindustan Aeronautics Limited (HAL) India ke aerospace aur defense sector mein lagbhag akela player hai, technology aur execution mein best. FY26 mein revenue 7% badh kar ₹33,050 crore aur profit before tax 12% badh kar ₹12,112 crore raha. Order book toh ₹2,54,538 crore ka ho gaya hai, mainly LCA Mk1A aircraft aur helicopters ke orders ke karan. Production capacity badha rahe hain aur future projects par bhi kaam kar rahe hain. EV/EBITDA 18.2x hai, jo high lag sakta hai, lekin itna bada order book aur national importance ki wajah se strong hai. Defense sector overall double-digit growth dikha raha hai government spending aur indigenization ke karan.
Market Ka Scene Aur Risks Kya Hain?
Indian market mein recently thoda uptrend hai, specially large-cap aur public sector stocks mein buying ho rahi hai. Rupee depreciation aur input costs badhne jaise factors dikkaten de sakte hain. Infrastructure (IRCTC aur HAL ke liye important) sector April 2026 mein 1.7% grow kiya. Defense sector bhi badhiya kar raha hai, exports $6 billion tak jaane ka target hai 2029 tak. Ye sab HAL aur IRCTC ke liye acha hai, aur Hindustan Zinc ko bhi overall economic growth ka fayda milega.
Lekin bhai, in strong companies ke liye bhi kuch risks hain. IRCTC ko policy changes ka dar hai aur internet ticketing market bhi lagbhag full ho gaya hai, P/E ~29.71x industry se upar hai. Hindustan Zinc ko metal price volatility aur expansion projects mein execution risk hai, P/E ~19.19x thoda zyada hai. HAL toh government orders par depend karta hai, aur execution time par hona chahiye. HAL ka P/E 31.79x toh historical average se bahut zyada hai. Aur haan, FPIs 2026 mein Indian equities se paisa nikal rahe hain, jo sabhi stocks par pressure daal sakta hai.