Author: Sreelatha M

Federal Bank has announced a significant capital-raising decision, with global private equity firm Blackstone committing an investment of ₹6,196.51 crore that could give it close to a 10% stake in the bank. The board has approved issuing 272.97 million convertible warrants at ₹227 per share, forming part of a broader fundraising plan to strengthen the bank’s balance sheet and support future growth.

Blackstone will pay 25% of the warrant value upfront, with the remainder due at the time of conversion. The warrants can be exercised within 18 months in one or more tranches. Any unconverted warrants after this period will lapse, and the upfront payment will be forfeited.

As part of the agreement, Federal Bank will also offer Blackstone the right to nominate one non-executive director to the board, provided the investor holds at least 5% of the bank’s post-conversion equity.

The bank is also exploring additional capital-raising avenues, including a rights issue, preferential allotment and a qualified institutional placement, to enhance its financial flexibility.

An Extraordinary General Meeting is scheduled for 19 November to seek shareholder approval for the proposals. Shares of Federal Bank rose modestly in early trade following the announcement, reflecting positive investor sentiment around the infusion.

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Alaska Airlines, one of the largest US carriers based in Seattle, grounded all its flights nationwide on Thursday due to a major IT outage.

The disruption also affected its regional subsidiary, Horizon Air. Together with Hawaiian Airlines, the group serves 140 destinations worldwide, spanning 37 US states and 12 countries.

The Federal Aviation Administration (FAA) issued a temporary ground stop, leaving thousands of passengers stranded.

The outage, traced to a failure at Alaska Airlines’ main data center, affected booking systems, mobile apps, and other essential operational services. Over 140 departures were delayed at major hubs, including Seattle-Tacoma International Airport.

“This was an unexpected disruption, and we sincerely apologize to our passengers,” Alaska Airlines said on social media, urging travelers to check flight status before heading to airports. Hawaiian Airlines reported no impact and continued normal operations.

This is the second IT-related outage for Alaska Airlines this year because a similar incident in July grounded all flights for three hours. Flexible travel policies are now in effect as the airline works to restore full service.

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Apple Inc. (AAPL) hit an all-time high on Tuesday, bringing its market capitalization close to $3.9 trillion. The rally follows strong early sales of the iPhone 17 series, which have significantly outpaced expectations in major markets, including the U.S. and China.

Data from Counterpoint Research shows the iPhone 17 outsold its predecessor by 14% during the first ten days of launch. In China, sales of the base model nearly doubled compared with the iPhone 16’s launch period, highlighting robust consumer demand for the new lineup. Analysts attribute the surge to innovative features, strategic marketing, and growth in the global smartphone market.

The stock rally has also propelled Apple past Microsoft, reclaiming its position as the world’s second-most-valuable company, behind only Nvidia. Investors have reacted positively, viewing the iPhone 17’s success as a sign of Apple’s enduring brand strength and market leadership.

Evercore ISI recently added Apple to its Tactical Outperform List, citing continued strong demand and optimistic earnings forecasts. Apple is scheduled to announce its quarterly results on October 30, a report expected to further influence the stock’s trajectory.

The iPhone 17 series, featuring upgraded camera systems, longer battery life, and advanced software tools, has resonated with consumers seeking premium smartphones. Analysts predict that continued demand for the iPhone 17, coupled with Apple’s broader product ecosystem, could sustain the company’s upward momentum in the coming quarters.

On Wednesday, Apple shares traded at $262.77, hitting intraday highs of $265.16 and lows of $260.77. The company’s price-to-earnings ratio stands at 30.28, with earnings per share (EPS) of 6.59, reflecting sustained investor confidence.

With strong sales and resilient stock performance, Apple reinforces its position as a global technology leader, demonstrating its ability to innovate, capture market share, and maintain investor trust in a competitive market.

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Shares of South Indian Bank (SIB) jumped nearly 19% on Monday to hit a 52-week high, driven by strong investor sentiment following the bank’s second-quarter results. The stock has now recovered about 70% from its March lows, supported by robust trading volumes and improved fundamentals.

The Kerala-based private lender reported an 8% rise in net profit to ₹351 crore for the quarter ended September 2025, compared with ₹325 crore a year earlier. While net interest income remained steady, the bank’s non-interest income and lower provisioning helped boost profitability.

Notably, the bank’s asset quality strengthened, with gross non-performing assets (GNPA) improving to 2.93%, down from 4.40% a year ago. However, net interest margins (NIM) slipped to 2.8%, reflecting some pressure on spreads.

Analysts said expectations of sustained profit growth, prudent lending, and renewed traction in retail and MSME segments underpinned the rally. Despite margin compression, the bank’s improving balance sheet and consistent earnings have bolstered investor confidence.

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Shares of Reliance Industries Ltd (RIL) climbed nearly 4% on Monday following the release of its Q2 FY26 results, which exceeded street expectations and triggered a wave of bullish calls from brokerages. The stock touched an intraday high of ₹1,473.80 before closing around ₹1,467.90 on the NSE, buoyed by gains across all major business verticals.

The conglomerate reported a 10% year-on-year increase in consolidated net profit to ₹18,165 crore. Revenue from operations grew 10% to ₹2.59 lakh crore, while gross revenue stood at ₹2.83 lakh crore. EBITDA rose 15% to ₹50,367 crore, and operating margins improved to 17.8% from 17% in the same quarter last year.

Segment-wise, the oil-to-chemicals (O2C) division posted a recovery, driven by improved refining margins and stronger petrochemical spreads. The retail segment saw continued growth in footfall and sales, while digital services, led by Jio, benefited from an expanding subscriber base and stable ARPU.

Capital expenditure during the quarter reached ₹40,010 crore, with ongoing investments across new energy, telecom infrastructure, and retail expansion. Despite high capex, net debt levels remained largely unchanged, maintaining the company’s balance sheet strength.

Chairman Mukesh Ambani stated that the quarterly performance reflects the resilience of India’s consumer demand and Reliance’s ability to drive structural growth across its diversified businesses.

Brokerages were quick to respond. Nomura reaffirmed its ‘Buy’ rating and raised FY26–27 EBITDA estimates by 4% and 12%, respectively, setting a target price of ₹1,700. Morgan Stanley echoed the positive outlook with a target of ₹1,701, citing strong positioning going into the festive quarter. HDFC Securities, JPMorgan, and Macquarie also maintained bullish views, highlighting key growth triggers including retail outperformance, telecom tariff potential, and the emerging new energy segment.

While analysts see Reliance as a long-term growth story, they advise a staggered investment approach given recent price gains. With festive demand and operational strength aligning, Reliance remains a strong contender in Diwali and year-end portfolios.

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Hindustan Zinc showed a rise in the second quarter of FY26 with a solid financial showing, reporting a 14% jump in net profit to ₹2,649 crore compared to ₹2,327 crore a year earlier. While revenue growth was more modest, ticking up by 3.5-4% to between ₹8,282 crore and ₹8,549 crore, it signals steady business momentum amid ongoing market challenges.

The company’s focus on controlling costs paid off, keeping expenses around ₹5,245 crore and lifting profit margins to a healthy 31%, up from 29% last year. Operational efficiency clearly took centre stage, supporting sustained earnings growth.

Production hit a record 258,000 tonnes of mined metal in the quarter, a slight 1% rise year-on-year. Earnings before interest, tax, depreciation, and amortisation (EBITDA) grew 7% to ₹4,467 crore, with the EBITDA margin steady at an impressive 52%, underlining strong operational discipline.

Silver was a shining star this quarter, contributing nearly 40% of total profits and reinforcing its role as a key earnings pillar. Meanwhile, zinc production costs fell to a five-year low of USD 994 per tonne, down 7%, further cushioning margins and creating a competitive edge.

Management credits this success to ongoing investments in technology, operational upgrades, and a growing emphasis on sustainability practices. Looking forward, the company is exploring exciting new avenues such as waste-to-value projects, enhanced circular resource use, and the emerging sector of energy-transition metals.

Despite the upbeat earnings, the stock experienced a mild dip post-results, a light pause amid its generally strong trend, buoyed in part by rising silver prices lately.

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