Profitability Reports Surge
Several Indian companies recently reported impressive financial results. Eternal Q3 results showed a significant increase, with profit surging 73% year-over-year
to ₹102 crore. The revenue for the company experienced a threefold jump during the same period. PNB Housing Finance also revealed positive figures, with a 10% rise in net profit, reaching ₹521 crore. Interest income for the firm increased by over 9% year-over-year. Despite a 14% dip, Dr. Reddy’s net profit still managed to beat expectations, adding to the list of positive corporate performances. Furthermore, Dalmia Bharat's Q3 profit, though declining by 46% due to falling cement prices in the east and south regions, remains an essential market indicator.
Market Rate Dynamics
Gold and silver rates experienced notable fluctuations. MCX gold saw an increase of ₹7,910 per 10 grams, while silver prices jumped by ₹11,850 per kg. HDFC Securities suggested four ETFs for long-term investment due to these trends. These movements were influenced by factors like concerns regarding Greenland. This volatility indicates a dynamic market, where precious metals respond to global economic shifts and geopolitical uncertainties. Investors are carefully monitoring these changes to navigate the complexities and make informed decisions during a fluctuating market.
Tech Deals & Regulations
Several major deals and regulatory changes are shaping India's tech landscape. Tech Mahindra secured a significant deal with Telefónica, valued at over $500 million. This demonstrates the increasing significance of digital transformation and outsourcing. Furthermore, the Indian government's decision to allow the license-free use of the 6GHz spectrum is considered a win for Big Tech. This move is expected to enhance technological development and service delivery. These advancements highlight India's ambition to become a digital hub, providing a conducive environment for innovation and expansion for technology-driven companies.
Government & Strategy
The Indian government is actively involved in setting the stage for future growth and stability. Axis Securities predicts that Budget 2026 is likely to strike a balance between promoting economic expansion and maintaining macroeconomic stability. Moreover, the government is focusing on AI infrastructure, with Ashwini Vaishnaw mentioning that India is working on all five layers of AI architecture, including application, model, chip, infrastructure, and energy. Discussions are ongoing between Jharkhand and Infosys about AI and digital skills, underscoring the government's commitment to nurturing technological capabilities and skills for the future. These measures indicate the government's forward-thinking approach towards economic policy and technological advancement.
