| Results |
| Tata Chemicals: Disappoints across the board |
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| Margins under pressure across the board |
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| FY2014E looks like another subdued year; no positive triggers in the near term |
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| KEC International: Weak margins though improving sequentially; strong on other counts |
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| Strong revenues but margins still remain weak, though sequentially better |
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| Domestic T&D, power systems, cables lead; margin up despite higher contribution from new segments |
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| Scope for margin improvement; expects meaningful improvement in 2HFY14E |
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| Revise estimates; reiterate BUY (TP: Rs70) as near-term negativity is likely priced in |
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