Category: Corporate

Categories
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

Categories
Corporate

Coking Coal made Critical Mineral, shares jump 5%

The government has classified coking coal as a critical mineral under the Mines and Minerals (Development and Regulation) Act, highlighting its strategic importance for the steel industry.

The move is expected to simplify approvals for mining and exploration, encourage domestic production, and reduce the country’s heavy reliance on imports, which currently meet about 95% of demand.

Following the announcement, Bharat Coking Coal (BCCL) shares rose nearly 5%, while Coal India gained around 3%, reflecting investor optimism about the policy’s impact on the steel supply chain.

Categories
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

Categories
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

Categories
Corporate

Apple earnings soar as iPhone sales jump in China

Apple has reported one of its strongest quarterly results ever, thanks to a huge increase in iPhone sales, especially in China, and steady growth in its services business.

For the first quarter of fiscal 2026, Apple earned $143.8 billion in revenue, up 16% from last year, and a profit of $42.1 billion, exceeding analyst expectations. iPhone sales were the main driver, generating $85.3 billion, a 23% rise compared with the previous year.

China played a big role in this growth. iPhone sales in the country jumped about 38%, reaching $25.5 billion. Apple is seeing more customers switch from Android phones, helping it regain market share.

CEO Tim Cook said demand for the iPhone 17 was “staggering,” with strong sales across all major regions. Upgraded features, better performance, and customer upgrades from older models helped boost sales.

Apple’s services, including digital content, subscriptions, and software, also grew 14% to $30 billion, supported by a global active device base of 2.5 billion.

Not everything was perfect. Wearables and home accessories grew slowly, and rising chip costs and supply issues could affect future profits. Apple is also investing in artificial intelligence, including partnering with Google to use the Gemini AI model and buying AI startup Q.ai.

Looking ahead, Apple expects revenue growth of 13–16% for the next quarter, showing confidence in its iPhones and services despite ongoing supply challenges.

Apple’s strong results highlight the continued popularity of its devices and the resilience of its business, with China emerging as a key market once again.

Also Read: ITC Q3 FY26 profit ₹4,931 cr, revenue rises

Categories
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
Corporate

Sensex slides 350 points, Nifty slips below 25,300

equity benchmarks ended lower on January 30, 2026, as investors turned cautious ahead of the Union Budget and booked profits after recent gains. The BSE Sensex declined by more than 350 points, while the NSE Nifty 50 slipped below the key 25,300 level, reflecting weak global cues and stock-specific selling pressure.

Market sentiment remained subdued through the session, with losses seen across auto, metal and select FMCG stocks. Tata Motors emerged as a major laggard, with its shares falling sharply after the company reported a steep drop in net profit for the December quarter, despite steady revenue growth. Weak margins and higher costs weighed on investor confidence.

Voltas shares slid around 5% after the company posted disappointing quarterly earnings, missing market expectations. Metal stocks, including Tata Steel, also traded lower amid concerns over global demand and soft commodity prices, adding to the pressure on frontline indices.

On the positive side, Dabur India gained around 2%, supported by a modest rise in December-quarter profit and stable demand across its key product categories. Some defensive stocks and select FMCG names also saw mild buying as investors shifted to relatively safer segments amid market uncertainty.

Broader markets mirrored the weak trend, with midcap and smallcap stocks trading under pressure for most of the day. Sectorally, metal, auto and capital goods indices were among the top losers, while FMCG and healthcare stocks showed relative resilience.

Investors remained on the sidelines ahead of the Union Budget, looking for clarity on government spending, fiscal consolidation and measures to support growth. Global factors, including mixed Asian market performance and concerns around interest rate outlooks, also influenced domestic sentiment.

Also Read: Sensex climbs 222 points, Nifty regains 25,400 mark

Categories
Corporate

SpaceX eyes June 2026 IPO at trillion-dollar valuation

Elon Musk’s aerospace venture SpaceX is reportedly planning to go public in June 2026, with a potential valuation of $1.5 trillion. The company could raise up to $50 billion, making it one of the largest initial public offerings in history. If realized, the listing would surpass nearly all previous market debuts, including Saudi Aramco’s $29 billion IPO in 2019.

The proposed timeline coincides with Musk’s 55th birthday on June 28 and a rare alignment of planets, adding a symbolic touch to the potential market debut. While SpaceX has traditionally stayed private, recent growth in its Starlink satellite broadband network and other space-based technologies has fueled investor interest. Secondary market transactions have valued the company at roughly $800 billion, reflecting robust demand from private investors.

Industry observers note that the IPO could highlight the financial potential of the commercial space sector. SpaceX’s Starlink service has rapidly expanded, providing internet connectivity across remote regions, while broader commercial and government interest in satellite and space services continues to grow.

To support the IPO, reports suggest that four major Wall Street banks, Bank of America, JPMorgan Chase, Goldman Sachs, and Morgan Stanley, may be engaged as lead underwriters. Preparations appear to be well underway, although the final timing will depend on market conditions and regulatory approvals.

A successful listing would not only be a landmark event for SpaceX but also for the global financial markets, demonstrating strong investor appetite for the rapidly expanding space industry. Although the company has not officially confirmed the IPO, speculation alone has stirred excitement among analysts, investors, and media, highlighting the growing intersection of space exploration and investment opportunities.

With Starlink subscribers climbing and commercial interest rising, SpaceX’s public offering could set a new precedent for tech-driven space ventures, while solidifying Musk’s vision of turning space innovation into a mainstream economic force.

Also Read: Google launches AI Tools for JEE prep in India

Categories
Corporate

Sensex climbs 222 points, Nifty regains 25,400 mark

Markets closed higher on Thursday, where the BSE Sensex gained over 220 points, while the Nifty 50 moved back above the 25,400 level by the end of the session.

Markets opened on a cautious note amid mixed global cues and uncertainty ahead of key economic developments. Sentiment improved later in the day on the back of gains in heavyweight stocks.

Tata Steel surged around 4%, emerging as the top gainer on the Nifty, while Larsen & Toubro climbed nearly 3% on sustained investor interest. Other metal and PSU stocks such as Vedanta and Coal India also traded higher.

On the losing side, FMCG and auto stocks faced selling pressure. ITC, Maruti Suzuki and Titan Company were among the notable laggards, limiting broader market gains.

Sector-wise, metal, PSU and capital goods stocks outperformed, while FMCG, IT and auto indices ended lower. Investors stayed cautious ahead of upcoming economic cues and the Union Budget.

Also Read: Sensex down 400 points, Nifty under 25,250

Categories
Corporate

L&T bags ₹5,000–10,000 cr Riyadh metro extension order

Larsen & Toubro (L&T) has secured a major international infrastructure contract worth between ₹5,000 crore and ₹10,000 crore for the extension of the Riyadh Metro in Saudi Arabia. The project has been awarded by the Royal Commission for Riyadh City and marks another significant overseas win for the Indian engineering and construction major.

The order relates to the extension of the Red Line of the Riyadh Metro and will be executed by L&T’s Heavy Civil Infrastructure business. Under the contract, L&T will be responsible for the design and turnkey construction of the new metro corridor. The project will be carried out as part of a global consortium that includes international and regional partners.

The metro extension will span 8.4 kilometres and include a combination of underground and elevated sections. The project will also feature five new metro stations, aimed at improving public transport access and easing traffic congestion in the rapidly growing Saudi capital. Once completed, the extension is expected to enhance connectivity across key parts of Riyadh and support the city’s long-term urban mobility plans.

The Riyadh Metro is one of the largest public transport projects in the Middle East and forms a core part of Saudi Arabia’s efforts to modernise its infrastructure under its broader economic diversification strategy. The Red Line is a crucial corridor in the network, and the extension will further strengthen the system’s reach and efficiency.

L&T has a strong track record in executing large metro and rail infrastructure projects both in India and overseas. The company’s growing presence in the Middle East has helped it secure several high-value contracts in recent years, contributing significantly to its international order book.

Following the announcement, L&T shares moved higher in early trade, reflecting positive investor sentiment around the company’s robust project pipeline and continued global expansion. The order also comes at a time when the company is preparing to announce its quarterly financial results, with analysts expecting steady performance driven by strong infrastructure demand.

Also Read: Maruti Suzuki Q3 net profit up 4% at ₹3,879 cr