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Dixon Technologies rallies 5% after Q3 profit jump

Shares of Dixon Technologies surged nearly 5% after the electronics manufacturer posted a strong set of results for the December quarter.

The company reported a sharp 67% year-on-year rise in net profit to ₹287 crore, helped by a one-time gain from the sale of its lighting business stake. Revenue remained robust, driven mainly by its mobile phone and electronics manufacturing segments, though smartphone volumes were impacted by inventory adjustments and higher component costs. Brokerage views remain mixed.

While some analysts see long-term growth potential, others caution that near-term volume pressure and margin risks could weigh on the stock.

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Corporate

Sensex drops 296 points at close, Nifty breaches 25,350

The equity benchmarks closed lower on Friday as BSE Sensex fell 296 points, while the Nifty 50 settled below the 25,350 level, snapping a brief recovery seen earlier in the session.

Selling pressure was seen across banking, auto and metal stocks, while selective buying supported FMCG and pharmaceutical shares. Weak global cues and a sharp fall in the rupee also weighed on market sentiment.

Among Sensex gainers, ITC, Sun Pharma, Nestlé India, HUL, and Power Grid ended higher, supported by defensive buying and stock-specific interest. FMCG stocks gained as investors moved towards safer pockets of the market.

On the losers’ side, Bajaj Auto, Tata Motors, JSW Steel, IndusInd Bank, and L&T declined, dragging the benchmarks lower. Auto and metal stocks faced selling pressure due to concerns over demand and global growth.

The broader market also remained weak, with midcap and smallcap indices closing in the red, reflecting cautious investor positioning. Sectorally, banking, auto and metals underperformed, while FMCG and pharma showed relative resilience.

The rupee slipped to a record closing low against the US dollar, adding to pressure on equities, especially import-dependent sectors. Market participants remained cautious ahead of upcoming economic data and policy developments.

Also Read: Sensex slides 350 points, Nifty slips below 25,300

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Beyond

Venezuela opens oil sector to foreign firms

Venezuela’s government has approved a major overhaul of its oil sector, aiming to attract foreign investment and revive the country’s struggling energy industry. The law, signed by acting President Delcy Rodríguez, represents a significant shift from decades of strict state control under Petróleos de Venezuela (PDVSA).

Under the new framework, private and foreign companies can operate oil projects at their own cost and risk, while the state retains ownership of crude reserves. The law also allows independent arbitration for disputes, reducing legal uncertainties that have historically deterred foreign investors. Companies will now have greater operational autonomy, including decisions on production levels and investments, signaling a major policy pivot from the nationalisation policies introduced by Hugo Chávez in 2007.

Financial incentives have also been introduced to make Venezuela more competitive. The law caps royalties at 30% but allows authorities to set rates on a project-by-project basis. This flexibility is intended to attract large-scale international operators and encourage investment in technologically advanced extraction projects.

The legislative reform coincides with a partial easing of U.S. sanctions on Venezuela’s oil sector. Washington issued a general license permitting certain U.S. companies to engage in trade and transport of Venezuelan crude, providing a potential boost to foreign capital inflows. Analysts say the dual move, domestic reform and international sanction relief — is designed to restore investor confidence and reverse years of declining production.

Venezuela’s oil output has fallen sharply in recent years due to mismanagement, underinvestment, and economic sanctions, despite the country holding the world’s largest proven oil reserves. Industry experts believe the new law could jump-start production, create jobs, and increase government revenue, although political instability and past economic mismanagement remain key risks for investors.

Also Read: Microsoft sees Copilot AI boom, costs worry investors

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Technology

Microsoft sees Copilot AI boom, costs worry investors

Microsoft CEO Satya Nadella defended the company’s ambitious AI strategy during the latest earnings call, highlighting strong growth in its Copilot AI products even as some investors voiced caution over rising costs and slower cloud performance.

For the quarter ending December 2025, Microsoft reported revenue of $81.3 billion and a 21 % increase in net income, driven primarily by cloud sales. Despite these strong results, Microsoft shares fell, as Wall Street focused on the company’s massive capital expenditures for AI infrastructure and data centres, alongside slightly softer growth in Azure and Microsoft 365 revenues than expected.

Nadella emphasised that demand for AI far exceeds current capacity, framing heavy spending as an investment in future growth. He reported that daily usage of Copilot AI products has nearly tripled year-over-year. Microsoft 365 Copilot now boasts 15 million paid seats, while GitHub Copilot has 4.7 million paid subscribers, reflecting strong adoption across both corporate and developer environments.

Beyond office productivity tools, Nadella highlighted specialised AI applications, such as Dragon Copilot for healthcare, which has been used in millions of patient encounters. This demonstrates Microsoft’s strategy to expand AI adoption across multiple sectors, not just within its core software suite.

Despite these positive usage trends, some investors remain cautious. Analysts note that while AI adoption is strong, Azure’s growth pace has slowed slightly, and the cost of building AI infrastructure may pressure margins if adoption growth does not keep pace.

Also Read: Trump to nominate Kevin Warsh as Federal chair

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Leaders

Trump to nominate Kevin Warsh as Federal chair

US President Donald Trump is expected to name Kevin Warsh as the next chair of the Federal Reserve, a move that could shape the future direction of America’s central bank. While the White House has not yet made a formal announcement, reports suggest the decision is imminent.

Kevin Warsh is not a new face in Washington or on Wall Street. He served as a Federal Reserve governor in the past and has long been seen as a serious contender for the top job. Known for his deep understanding of financial markets and monetary policy, Warsh has been close to the centre of economic decision-making during periods of crisis and recovery.

Trump has repeatedly expressed dissatisfaction with the current Fed chair, Jerome Powell, mainly over interest rate policy. The president has argued that rates should be cut faster to support economic growth. Powell’s term is set to end later this year, opening the door for new leadership at the central bank.

If confirmed, Warsh would step into the role at a sensitive time for the US economy. Inflation concerns have eased compared to previous years, but questions remain over growth, borrowing costs and global uncertainty. Investors and economists are closely watching how the next Fed chair might balance inflation control with the need to support jobs and expansion.

Financial markets reacted cautiously to reports of Warsh’s likely nomination. The US dollar strengthened slightly and bond yields moved higher, reflecting expectations that Warsh may take a more traditional and disciplined approach to monetary policy compared to some other potential candidates.

Supporters believe Warsh’s experience could bring stability and predictability to the Federal Reserve. They see him as someone who understands both government policymaking and market realities, which could help restore confidence during uncertain times.

However, the expected nomination has also revived concerns about political pressure on the central bank. Critics worry that Trump’s open criticism of the Fed could threaten its independence, a principle seen as crucial for maintaining long-term economic stability.

Warsh will need approval from the US Senate before taking charge. His confirmation hearings are likely to be closely followed, as lawmakers question him on interest rates, inflation, and the Fed’s independence.

Also Read: Tata Motors Q3 profit ₹705 cr, down 48%

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Corporate

Tata Motors Q3 profit ₹705 cr, down 48%

Tata Motors’ consolidated net profit for the third quarter (October–December 2025) fell sharply by 48% year-on-year, coming in at ₹705 crore, compared with ₹1,355 crore in the same quarter last year. The decline was mainly due to one-time exceptional expenses, rather than a slowdown in the company’s core business operations.

Revenue from operations, however, showed strong growth, rising 16% to ₹21,847 crore, up from ₹18,819 crore in Q3 FY25. This reflects continued demand in the commercial vehicle segment and steady sales momentum across its businesses.

The quarter’s results were impacted by exceptional charges totaling around ₹1,600 crore, including ₹962 crore for stamp duty and other costs linked to the ongoing demerger process, ₹603 crore related to the implementation of the new labour code, and ₹82 crore for acquisition-related expenses.

Despite the one-off charges, Tata Motors’ underlying operations remained healthy. EBITDA margins improved, indicating effective cost management and operational efficiency.

Domestic commercial vehicle sales continued to perform well, supported by fleet replacement incentives and government tax benefits. Wholesales rose during the quarter, and the company’s market share in key commercial vehicle categories improved sequentially.

Management stated that although exceptional items affected net profit this quarter, the business fundamentals remain strong. Demand is expected to stay robust in the fourth quarter of FY26, backed by infrastructure spending and steady demand across sectors.

Also Read: Swiggy Q3 loss widens to ₹1,065 cr despite 54% revenue growth

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Corporate

Swiggy Q3 loss widens to ₹1,065 cr despite 54% revenue growth

Food delivery and quick-commerce platform Swiggy reported a consolidated net loss of ₹1,065 crore in the third quarter (Q3) of FY26, up 33% from ₹799 crore in the same period last year. The widening losses reflect heavy spending on expansion, marketing, and operational costs, even as the company’s revenue showed strong growth.

Swiggy’s revenue from operations jumped 54% year-on-year to ₹6,148 crore, compared with ₹3,993 crore in Q3 FY25. Sequentially, revenue also increased from ₹5,561 crore in the previous quarter, signaling robust demand across its services.

The food delivery business remained the main revenue driver. Its gross order value (GOV) grew 20.5% YoY to ₹8,959 crore, marking the fastest growth for this segment in three years. Monthly transacting users rose 22% to 18.1 million, showing sustained consumer adoption. Margins improved modestly, with adjusted EBITDA for food delivery reaching about 3% of GOV, the highest in two years.

Swiggy’s Instamart quick-commerce division also posted strong growth, with GOV more than doubling to ₹7,938 crore. The network expanded to 1,136 dark stores across 131 cities, adding 34 new stores in the quarter. Average order value increased 40% YoY to ₹746, driven by higher demand for groceries and other essentials. However, Instamart continues to operate at a loss, contributing to the overall widening net loss.

Also Read: Apple earnings soar as iPhone sales jump in China

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Corporate

Sun Pharma Q3 profit seen up 8% at ₹2,400 cr

Sun Pharmaceutical Industries Ltd is expected to report Q3 FY26 revenue of around ₹13,500 crore, up 8–10% year-on-year, while net profit is estimated at nearly ₹2,400 crore, reflecting an 8% annual increase, according to analyst estimates. EBITDA margins are likely to remain stable at 28–30%, supported by steady domestic growth and a favourable product mix.

Growth in the December quarter is expected to be led by Sun Pharma’s India formulations business, which continues to benefit from strong demand for chronic therapies and periodic price hikes. Analysts expect the domestic market to remain a key earnings driver, contributing consistently to both revenue growth and margin stability.

The company’s specialty drugs portfolio, including products such as Ilumya and Cequa, is expected to deliver stable sales during the quarter. However, higher spending on marketing and research and development is likely to limit margin expansion. While the specialty business remains strategically important for long-term growth, analysts believe profitability from this segment will take time to scale up.

In contrast, Sun Pharma’s US generics business is expected to remain largely flat, weighed down by persistent pricing pressure and intense competition. Limited new product launches and ongoing price erosion are likely to restrict growth in the US market, which has been a key headwind for Indian drugmakers in recent years.

Other international markets are expected to report modest performance, broadly in line with previous quarters. Cost controls and a stable operating environment are likely to help the company protect margins despite challenges in select geographies.

On the profitability front, earnings are expected to closely track operating performance, with no major one-off items anticipated during the quarter. Analysts will closely monitor management commentary on the outlook for the US generics business, progress in the specialty portfolio, and the pace of investment in research and development.

Also Read: Gold at ₹1.78 lakh, Silver above ₹4.10 lakh

Categories
Beyond

Gold at ₹1.78 lakh, Silver above ₹4.10 lakh

Gold and silver prices recorded marginal gains on Friday, reflecting steady demand for precious metals amid ongoing global uncertainties. According to market data, the price of 24-carat gold increased by ₹10 per 10 grams, taking it to ₹1,78,860 in major cities such as Mumbai and Kolkata. In the national capital, Delhi, 24-carat gold was quoted slightly higher at ₹1,79,010 per 10 grams.

Prices of 22-carat gold, which is commonly used for jewellery, also moved up by ₹10 per 10 grams. The yellow metal was priced at ₹1,63,960 per 10 grams in Mumbai, Kolkata, Bengaluru and Hyderabad. In Delhi, 22-carat gold was selling at ₹1,64,110 per 10 grams, while Chennai continued to command a premium, with prices hovering around ₹1,68,010 per 10 grams.

Silver prices followed a similar trend, rising by ₹100 per kilogram during early trade. One kilogram of silver was priced at ₹4,10,100 in key markets including Delhi, Mumbai and Kolkata. Chennai once again saw higher rates, with silver trading at around ₹4,25,100 per kilogram, reflecting regional demand patterns.

Market participants attribute the firm trend in bullion prices to sustained investor interest in safe-haven assets. Precious metals have remained in focus globally as investors seek protection against economic uncertainty, inflation concerns and geopolitical tensions. Recent movements in international gold and silver prices, along with fluctuations in the rupee against the US dollar, have also influenced domestic rates.

Despite the modest daily increase, gold and silver prices remain at elevated levels compared to historical averages. Analysts note that short-term price movements are likely to stay volatile, driven by global cues such as interest rate expectations, central bank policies and developments in international markets.

Also Read: Sensex slides 350 points, Nifty slips below 25,300

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1 Minute-Read

Turtlemint files ₹2,000 Cr IPO, eyeing April listing

Turtlemint Fintech Solutions, an insurtech platform founded in 2015, has filed an updated draft prospectus with SEBI for a proposed ₹2,000 crore IPO, targeting a listing by April.

The public offering will include both new shares and an offer-for-sale by existing investors. The company plans to use the proceeds to strengthen technology, expand infrastructure, and support business growth.

Early investors, including Nexus Venture Partners and Peak XV Partners, are expected to sell part of their holdings in the listing.