Vinit Bolinjkar positive on ITC, Delhivery after Q1; calls Ola Electric 'value-accretive' bet

Vinit Bolinjkar, Head of Research at Ventura Securities, noted that there are early signs of a positive shift in consumption trends, with first-quarter earnings coming in better than expected. "The numbers were encouraging, and despite the challenges we've faced, I believe we're in a fairly good position," the market expert told Business Today on Monday.

In response to a query on ITC Ltd, he said, "The company's cigarette business, a high-margin cash generator, is performing well with decent volumes. With the revival in consumption trends, the entire food basket looks strong. So, we remain positive and constructive on ITC." The consumer goods giant reported a strong performance for the June quarter, with net sales rising 20.6 per cent year-on-year, while EBITDA grew 3 per cent YoY.

Sharing his view on Delhivery, Bolinjkar said, "One should definitely keep an eye on the stock from hereon, as there's a visible turnaround on the margin front. The company is also setting up an automated warehouse in Delhi, which is expected to boost both revenue and profitability. The stock is likely to move up from current levels, and I don’t see any downside risk at this point."

The logistics services provider also delivered a strong performance in Q1 FY26, posting a 67 per cent YoY jump in consolidated net profit to Rs 91 crore. This growth was driven by a 6 per cent increase in revenue, which stood at Rs 2,294 crore.

When asked about the automobile pack, Bolinjkar said he expects the second half of this fiscal year to be significantly better. "From this space, I believe Ola Electric Mobility Ltd could emerge as a surprise winner. It's not a Street favourite at the moment, but it offers a decent value-accretive story within the sector."

He recommended buying the stock at current levels, noting that downside risks appear relatively limited. "One should consider nibbling on the stock now and adding more as the story progresses," he added.

On the stock-specific front, ITC, Delhivery and Ola Electric were all trading higher today, with Delhivery leading the gains, rising 5.96 per cent to hit a high of Rs 455.50.