Tilaknagar Industries emerged as the stock of the day after gaining over 1% on Monday, continuing its upward trend. The rally comes on the back of upgraded revenue estimates by Choice Equity Broking, following clarity on the company’s Imperial Blue acquisition.

The brokerage now expects Tilaknagar’s net revenue to rise to ₹24.6 billion in FY26 and ₹53 billion in FY27, significant upgrades of 17% and 42% from earlier projections. It has maintained a ‘Buy’ rating with a target price of ₹650, indicating a potential 33% upside from current levels.

The optimism stems from management’s confirmation of the strong revenue inflow expected from the Imperial Blue brand. However, the firm slightly cut its margin outlook, factoring in industry trends and updated channel checks.

Operationally, Tilaknagar delivered solid performance in Q2 FY26, recording 16.2% volume growth to 34.2 lakh cases. Net revenue stood at ₹398 crore, with profit after tax at ₹53 crore. New launches and improving market share across Odisha, Telangana, Kerala, and Karnataka supported this momentum.

With the Competition Commission of India approving the ₹41.2-billion Imperial Blue deal, expected to close by Q3 FY26, investors are watching the stock closely.