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REAL-TIME GLOBAL RESEARCH

1QFY27: Standing apart in a margin-squeeze quarter

Published: 2026-07-19Institution: NomuraPages: 19Original language: EnglishEvidence page: 18

Research evidence excerpt

1QFY27: Standing apart in a margin-squeeze quarter

Nomura | ICICI Bank 20 July 2026

illustrative purposes within this document is not intended for “use” as a “benchmark” as defined by the European Benchmark Regulation.

Certain securities are subject to fluctuations in exchange rates that could have an adverse effect on the value or price of, or income derived

from, the investment.

With respect to Fixed Income Research: Recommendations fall into two categories: tactical, which typically last up to three months; or strategic,

which typically last from 6-12 months. However, trade recommendations may be reviewed at any time as circumstances change. ‘Stop loss’

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are taken at the time of submission for publication and are based on either indicative Bloomberg, LSEG or Nomura prices and yields at that

time. The prices and yields shown are not necessarily those at which the trade recommendation can be implemented.

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The English excerpt is extracted automatically from the cited source page and may contain layout or recognition errors. It is never batch translated.

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