Market Pulse — Select Stocks on the Radar

~Sumon Mukhopadhyay 

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Hey folks — it’s been a while since I’ve gone deep on some of these names. Between market volatility, selective caution, and the discipline of waiting for clearer signals, I preferred to observe rather than comment. But with fresh developments and improving visibility, here’s my current read on a few stocks that keep popping up on Twitter, investor forums, and yes — quite a few messages in my inbox.

Swan Corporation Ltd (Rs.421.60) — To be honest, I’ve consciously stayed silent on Swan Corp for several months. A meaningful part of the legacy business still sits in textiles, and the US tariff shock (touching nearly 50% on several Indian textile exports since mid-2025) has been brutal for the sector — shrinking order books, eroding price competitiveness versus Bangladesh and Vietnam, and poor visibility heading into 2026. That created genuine headwinds and muted the risk-reward equation for this segment.

But the story isn’t all grey clouds. Swan Defence & Heavy Industries is quietly becoming the real engine of the group — strong execution momentum, meaningful order visibility (including large tanker-related contracts), and improving operational traction are providing a solid counterbalance to textile cyclicality. On social platforms, sentiment is split: traders are watching consolidation and breakout zones, while longer-term investors are positioning for defence-led earnings traction. If textile pressure stabilises and defence execution remains consistent, a gradual move toward the ₹480–₹520 zone over the medium term looks achievable — subject, of course, to broader market mood and delivery discipline.

SEPC Ltd (Rs.8.98) — This one has been quietly gathering steam. I held off earlier because the execution track record still needed proof after past hiccups. But the turnaround narrative is now backed by hard numbers. As per the latest disclosures, SEPC’s confirmed order book stands at approximately ₹5,100–₹5,200 crore, providing multi-year revenue visibility across water, infrastructure, industrial and overseas EPC projects. On top of this, the company has also signed a large MoU pipeline of roughly ₹3,300 crore in mining and allied projects, which, if converted into executable contracts, can meaningfully expand the backlog further. In short, visibility is no longer thin — the pipeline is real and sizable.

Operationally, Q2FY26 showed tangible improvement with revenue in the range of ₹240–₹250 crore (strong YoY growth) and profit after tax of about ₹8 crore, reflecting better execution flow, improving billing momentum and tighter cost control. Working capital cycles are gradually normalising, helped by improved collections and project discipline under the new management and capital infusion. Recent wins across mining, rail infrastructure and overseas energy projects continue to reinforce confidence, and market chatter remains constructive around further order monetisation and execution consistency. If delivery discipline holds and the order book converts steadily into cash flows, SEPC can sustain the rerating that has already begun — definitely a name worth keeping firmly on the radar.

Reliance Power Ltd (Rs.33.38) — I intentionally avoided heavy commentary during the peak noise around the Enforcement Directorate episode starting October 2025, as it was linked to specific individuals and a bank-guarantee issue rather than the company’s core power operations. It understandably rattled sentiment for a while. Operationally though, the business has stayed steady. Q2FY26 delivered a return to profitability (~₹87 crore PAT), supported by stronger EBITDA, stable revenues, tighter cost discipline, and steady progress in renewables and storage projects. As regulatory headlines fade, attention is slowly shifting back toward execution and cash flow visibility. Legacy overhang still exists, but improving consistency could reward patient investors.

3i Infotech Ltd (₹15.27) — This one often flies under the radar, but it increasingly looks like a classic dark horse setup. I didn’t push it earlier because margin recovery needed confirmation — and Q2FY26 finally delivered that. Sequential growth in revenue and EBITDA, a profitability swing, tighter cost controls, and improving traction in digital, cloud, and enterprise solutions are encouraging. The balance sheet looks healthier, and if management continues converting pipeline into recurring revenues, the upside asymmetry over the medium term is meaningful. Quiet stocks often surprise the loudest.

As always, these are observations — not trading calls. Markets remain volatile, execution matters more than narratives, and macro variables (tariffs, rates, sentiment) can shift quickly. Stay curious, stay disciplined, and never outsource your conviction.

What are you tracking in these or similar spaces? Drop your thoughts below. 👇