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Strong Q3 drives M&M profit to ₹4,675 cr

Mahindra & Mahindra (M&M) reported a strong performance in the third quarter, with consolidated net profit rising 47% year-on-year to ₹4,675 crore. The company’s revenue grew 26% to over ₹52,000 crore, supported by solid demand across its automotive and farm equipment businesses.

SUV sales remained a key growth driver, helping the auto segment record healthy volume gains. Tractor sales also showed steady improvement. The company’s services businesses, including financial services, contributed to overall growth.

Improved operating margins and strong market demand helped boost profitability, reflecting M&M’s continued momentum across its core business segments.

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L&T wins ₹2,500 crore Dubai road project

Larsen & Toubro (L&T) has won a significant road development contract in Dubai, valued between ₹1,000 crore and ₹2,500 crore.

The project covers Phase‑1 of Latifa Bint Hamdan Street, including widening the existing road into four lanes in each direction and constructing a major interchange at Sheikh Mohammed Bin Zayed Road (E311).

L&T will also build extended carriageways and improve connectivity for U-turns and local access. The project is slated for completion within 36 months, strengthening L&T’s presence in the UAE infrastructure sector.

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Eternal shares soar 7% on heavy trading

Eternal Ltd’s stock jumped 7 % on Tuesday, with unusually high trading volumes of around 9.9 crore shares on the NSE. The rally followed strong third-quarter results, with net profit rising 73 % to ₹102 crore and revenue more than tripling year-on-year.

Market activity was also supported by a large block deal worth roughly ₹344 crore. Recent company developments, including a change in CEO and the closure of a subsidiary, have kept investors’ attention on the stock.

Over the past month, Eternal shares have gained around 6.6 %, reflecting growing confidence in the company’s growth trajectory.

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Uttar Pradesh eyes $1 trillion economy

Uttar Pradesh presented its first Economic Survey, targeting a $1 trillion economy. The GSDP grew from ₹13.3 lakh crore in 2016‑17 to ₹30.25 lakh crore in 2024‑25, projected at ₹36 lakh crore next year.

The 2025‑26 budget is ₹8.33 lakh crore, with a record ₹46,728 crore for health. Per capita income rose to ₹1.09 lakh, agriculture output grew 28.5 %, and universal child immunisation was achieved. Plans include 22 expressways, 24 airports, and ₹50 lakh crore in investments.

The survey promotes a “Triple S” strategy, Safety, Stability, Speed, to boost growth and investor confidence.

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China urges banks to cut US treasury holdings

China has instructed its major banks to reduce their exposure to US Treasury bonds, aiming to manage risk amid market volatility. Banks are advised to limit new purchases and gradually scale down existing holdings, though no strict targets or deadlines were given.

The guidance focuses on commercial bank portfolios and does not affect China’s sovereign reserves.

Analysts say the decision reflects a broader trend of diversifying away from dollar-denominated assets, as Chinese holdings of US government debt have declined to multi-year lows.

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90-year-old mis-sold ₹2 lakh insurance

A 90-year-old man in Nagpur, Maharashtra, was reportedly mis-sold a life insurance policy with an annual premium of ₹2 lakh by a Canara Bank branch manager.

The policy controversially has a maturity year of 2124, raising questions about its suitability for a senior citizen. The man’s account was debited ₹2 lakh in two consecutive years.

The case has sparked social media concern over ethical bancassurance practices. Canara Bank said it is reviewing the matter through an internal team but has not made a public statement on the mis-selling claim.

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Zydus Lifesciences Q3 profit up 2%, revenue up 32%

Zydus Lifesciences reported a consolidated net profit of ₹1,042.1 crore in Q3 FY26, up 1.8% from ₹1,023.5 crore a year ago, though down 17.2% sequentially.

Revenue jumped 32.4% year-on-year to ₹6,780.4 crore, driven by strong performance across key markets. EBITDA rose 31% to ₹1,816.4 crore, with margins improving to 26.5%. Segment-wise, North America formulations grew 16.4%, India formulations 12.9%, international markets 38%, and consumer wellness 113%.

The company emphasized its patient-centric approach, disciplined M&A strategy, and global product quality as foundations for long-term growth. Shares rose 4% to ₹919.70 on BSE post-results.

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Shipping Corp shares zoom 436% on Q3 profit

Shipping Corporation of India (SCI) shares surged over 14 % to ₹253 on the BSE after the Navratna PSU posted stellar Q3 FY26 results. Net profit jumped 436 % year‑on‑year to ₹404.97 crore, while revenue rose 22.5 % to ₹1,611.7 crore.

Profit before tax also increased sharply. The board approved a second interim dividend of ₹3.50 per equity share, with February 17 as the record date.

Market sentiment remains strong as trading stays above key moving averages, reflecting investor confidence in SCI’s performance.

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N Chandrasekaran leads TCS’ AI shift

Tata Sons chairman N. Chandrasekaran has stepped into a more active leadership role at Tata Consultancy Services (TCS) to drive its transition towards artificial intelligence.

Addressing employees in Dubai, he stressed that AI is reshaping the global technology landscape and warned that traditional IT service models face disruption. Chandrasekaran urged TCS to rethink its operating model, embed AI across all offerings, and focus strongly on reskilling talent.

He also highlighted the need for agility, innovation, and selective acquisitions to stay competitive. The push aims to position TCS as a leader in AI-driven digital transformation worldwide.

 

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Financial bids received for IDBI Bank privatisation

The government has received financial bids for the strategic privatisation of IDBI Bank, marking a key step in the disinvestment process, the Department of Investment and Public Asset Management (DIPAM) said.

The bids, including from Kotak Mahindra Bank, Fairfax India Holdings, and Emirates NBD, cover the 60.72% stake held by the Centre and LIC. These offers will now be evaluated as per procedure to select a preferred bidder, followed by regulatory approvals.

The move aligns with the government’s broader plan to reduce its stake in non-core sectors and raise revenue.