61 stories from 3 sources
Supporting Articles
India's Nifty MidCap 150 and Small-cap 250 indices suffered their sharpest weekly declines in two years. The sell-off followed a period of strong retail and mutual fund support, as investors reassessed risks from higher oil prices and widening fiscal concerns.
10:36 PMEconomic Times
Bharat Electronics, NTPC, Power Grid Corporation, and Hindustan Unilever hit fresh 52-week lows as the Sensex declined. Their shares have fallen roughly 6% to 9% over the past month.
9:34 AMEconomic Times
Retail investors are cutting leveraged positions, accelerating the steepest seven-month decline in Indian small-cap stocks. Inflation concerns and expectations of higher interest rates are adding to the selling pressure.
3:04 AMBloomberg Markets
Jio Platforms' IPO drew about Rs 7.41 lakh crore in bids and was subscribed 22.19 times, led by strong participation from domestic mutual funds and foreign investors. The shares are scheduled to list on October 28.
10:46 PMEconomic Times
Mukesh Ambani’s Jio Platforms IPO drew bids exceeding Rs 4.5 lakh crore and set 12 records, including more than 1.25 crore applications. It became India’s largest public offering, with allotment expected on October 26 and listing on October 28.
11:04 AMEconomic TimesJio Platforms’ $3.1 billion IPO attracted strong demand, especially from institutional investors, despite a weeklong selloff in Indian equities.
8:03 AMBloomberg Markets
Swiggy shares fell 16.4% to 176.70 rupees, a record low, as losses in its quick-commerce business widened. Investors are questioning the company's cash burn, execution and path to profitability since its market debut.
11:13 PMEconomic TimesSwiggy shares fell to a record low after competition in rapid commerce pushed losses beyond expectations. The decline has renewed doubts about the company's path to sustainable earnings.
12:37 AMBloomberg Markets
The Reserve Bank of India bought a record net $43.26 billion in foreign exchange in August to absorb dollar inflows linked to FCNR(B) deposits and overseas borrowing. Large forex sell and buy swaps offset the purchases, leaving reserves broadly unchanged even as the RBI's liquidity-management operations attracted more than $127 billion by August 31.
10:20 PMEconomic TimesIndia's market regulator ordered options trader Avadhut Sathe and his trading academy to refund 5.46 billion rupees to course participants. It found that they provided unregistered investment advice and research services while presenting them as stock market education.
11:54 PMBloomberg Markets
Infosys reported revenue growth and stable operating margins while securing a new $2 billion deal, taking total contract value to $5.2 billion. It nevertheless cut its annual revenue guidance as competitive pressure and weakness in some sectors clouded the outlook.
10:54 PMEconomic Times
JSW Steel's consolidated net profit nearly tripled in the September quarter as sales volumes rose 13% year over year. The company also received approval to add 5 million tonnes of capacity at its Utkal site in Odisha.
11:43 PMEconomic TimesJSW Steel’s fiscal second-quarter profit more than tripled and beat expectations as India’s infrastructure-led demand lifted steel prices.
6:00 AMBloomberg Markets
IndusInd Bank reported consolidated net profit of Rs 1,242 crore for the September quarter, compared with a loss of Rs 437 crore a year earlier. Lower provisions, higher fee income and improving asset quality drove the turnaround, with non-performing asset ratios also declining.
11:00 PMEconomic Times
Shriram Finance reported a 59.4% year-on-year increase in standalone Q2 FY27 profit to Rs 3,677 crore, supported by stronger net interest income and lower funding costs. Assets under management grew 17%, and the board approved an interim dividend of Rs 6.50 per share.
12:05 PMEconomic Times
Jana Small Finance Bank’s Q2 profit rose 127% year on year to Rs 170 crore, helped by business growth, wider margins and improved gross asset quality. Loans and deposits expanded, prompting the bank to raise its FY27 profit growth guidance to 100%.
12:00 PMEconomic TimesSummary
India's Nifty MidCap 150 and Small-cap 250 indices suffered their sharpest weekly declines in two years. The sell-off followed a period of strong retail and mutual fund support, as investors reassessed risks from higher oil prices and widening fiscal concerns.
The key shift is from retail-led buying to broad risk reduction in the market's more
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
A sustained reversal in small and midcap stocks could weaken investor confidence and expose the market's dependence on retail liquidity.
Summary
Bharat Electronics, NTPC, Power Grid Corporation, and Hindustan Unilever hit fresh 52-week lows as the Sensex declined. Their shares have fallen roughly 6% to 9% over the past month.
The breadth of the declines shows that selling pressure has spread beyond high-beta areas into
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Fresh lows among major Sensex constituents signal that the market correction is broadening.
Summary
Retail investors are cutting leveraged positions, accelerating the steepest seven-month decline in Indian small-cap stocks. Inflation concerns and expectations of higher interest rates are adding to the selling pressure.
Forced deleveraging is turning a sentiment-driven selloff into a liquidity event. Small-cap investors face the
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Leverage is amplifying the market decline and increasing downside risk in retail-heavy small-cap stocks.
Summary
Jio Platforms' IPO drew about Rs 7.41 lakh crore in bids and was subscribed 22.19 times, led by strong participation from domestic mutual funds and foreign investors. The shares are scheduled to list on October 28.
The subscription surge gives Jio strong pricing support ahead of listing, even as secondary-market conditions
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Jio's listing could become a major test of institutional appetite for large Indian digital and telecom offerings.
Summary
Mukesh Ambani’s Jio Platforms IPO drew bids exceeding Rs 4.5 lakh crore and set 12 records, including more than 1.25 crore applications. It became India’s largest public offering, with allotment expected on October 26 and listing on October 28.
The scale of demand shows that Jio has become a market-wide liquidity event, drawing unusually
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Jio’s debut could reset valuation benchmarks for Indian technology and telecom companies while absorbing substantial investor capital.
Summary
Jio Platforms’ $3.1 billion IPO attracted strong demand, especially from institutional investors, despite a weeklong selloff in Indian equities.
Institutional demand for India’s largest IPO signals that investors still want exposure to dominant digital
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Jio’s fundraising shows selective investor conviction can persist even during a broad market retreat.
Summary
Swiggy shares fell 16.4% to 176.70 rupees, a record low, as losses in its quick-commerce business widened. Investors are questioning the company's cash burn, execution and path to profitability since its market debut.
The selloff reflects a sharper market test of Swiggy's quick-commerce strategy, where growth requires sustained
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Swiggy's decline shows that public markets are becoming less tolerant of open-ended spending in India's quick-commerce battle.
Summary
Swiggy shares fell to a record low after competition in rapid commerce pushed losses beyond expectations. The decline has renewed doubts about the company's path to sustainable earnings.
Wider losses show that Swiggy is still prioritizing growth and market share over near-term profitability.
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The selloff signals that investors are repricing rapid-commerce companies around profitability rather than growth alone.
Summary
The Reserve Bank of India bought a record net $43.26 billion in foreign exchange in August to absorb dollar inflows linked to FCNR(B) deposits and overseas borrowing. Large forex sell and buy swaps offset the purchases, leaving reserves broadly unchanged even as the RBI's liquidity-management operations attracted more than $127 billion by August 31.
The RBI is absorbing exceptional foreign currency inflows without allowing them to translate directly into
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The RBI is gaining room to manage rupee volatility, but its growing reliance on swaps makes future liquidity and balance-sheet operations more consequential.
Summary
India's market regulator ordered options trader Avadhut Sathe and his trading academy to refund 5.46 billion rupees to course participants. It found that they provided unregistered investment advice and research services while presenting them as stock market education.
The ruling turns a popular trading education model into a regulatory liability, with the regulator
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The order raises the compliance costs and legal risks for India's rapidly expanding retail trading education industry.
Summary
Infosys reported revenue growth and stable operating margins while securing a new $2 billion deal, taking total contract value to $5.2 billion. It nevertheless cut its annual revenue guidance as competitive pressure and weakness in some sectors clouded the outlook.
The guidance cut shows that strong bookings have not yet translated into confidence in near-term
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The gap between robust bookings and weaker guidance signals that demand remains available but harder to monetize.
Summary
JSW Steel's consolidated net profit nearly tripled in the September quarter as sales volumes rose 13% year over year. The company also received approval to add 5 million tonnes of capacity at its Utkal site in Odisha.
The combination of stronger volumes and expansion approval points to a strategy built on scale
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
JSW's expansion adds to India's steel capacity race and could intensify competition as producers pursue volume growth.
Summary
JSW Steel’s fiscal second-quarter profit more than tripled and beat expectations as India’s infrastructure-led demand lifted steel prices.
Higher realizations and strong domestic demand drove the earnings surprise, reinforcing the benefit of India’s
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
India’s capital-spending cycle is translating into stronger earnings for large industrial companies.
2 stories · 2 sources
Summary
IndusInd Bank reported consolidated net profit of Rs 1,242 crore for the September quarter, compared with a loss of Rs 437 crore a year earlier. Lower provisions, higher fee income and improving asset quality drove the turnaround, with non-performing asset ratios also declining.
The sharp profit recovery reflects lower credit costs rather than only stronger operating income, making
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The results mark a meaningful earnings recovery, but its durability depends on sustained improvement in credit quality.
Summary
Shriram Finance reported a 59.4% year-on-year increase in standalone Q2 FY27 profit to Rs 3,677 crore, supported by stronger net interest income and lower funding costs. Assets under management grew 17%, and the board approved an interim dividend of Rs 6.50 per share.
The earnings jump reflects both business expansion and improved funding economics, giving Shriram Finance operating
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Shriram Finance is converting loan growth into stronger profitability while returning cash to shareholders.
Summary
Jana Small Finance Bank’s Q2 profit rose 127% year on year to Rs 170 crore, helped by business growth, wider margins and improved gross asset quality. Loans and deposits expanded, prompting the bank to raise its FY27 profit growth guidance to 100%.
The sharp profit increase combines balance-sheet growth with an early improvement in asset quality, strengthening
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Jana is gaining room to grow more aggressively, but its upgraded targets will face close scrutiny on asset quality.
A curated list of other prominent stories from this day.
Dr. Reddy's Laboratories reported weaker revenue and a 36% decline in second-quarter profit. The company supported new trade-margin regulations aimed at improving access to essential medicines while continuing to pursue growth in its core business.
11:53 PMEconomic Times
Adani Power's net profit rose 142% in the July-September quarter as strong electricity demand and prior-period income lifted results. Operating revenue increased nearly 30%, with additional revenue recognized from adjustments to historic energy charges under power purchase agreements.
11:47 PMEconomic Times
BSE has begun searching for a new managing director and chief executive officer ahead of Sundararaman Ramamurthy's scheduled retirement in June 2027. Candidates must have at least 20 years of experience, including senior leadership roles, and be under 62 on July 1, 2027.
11:06 PMEconomic Times
Tata Motors' standalone commercial-vehicle business reported a net profit of Rs 2,138 crore in the September quarter, compared with a loss a year earlier. Revenue rose 42% to Rs 23,930 crore, while consolidated profit reached Rs 1,257 crore, helped partly by lower mark-to-market losses.
3:08 PMEconomic Times
India's HSBC Flash Composite PMI rose to 56.7 in October, its strongest reading in four months, as new orders and services activity improved. Manufacturing remained steady, exports grew strongly and employment edged up, although firms remained cautious about hiring.
2:55 PMEconomic Times
The government plans a second public InvIT backed by a cluster of 10 national highways, with the aim of completing it before the end of the financial year. It also plans to reduce its equity stakes in nationalised banks to the 75% minimum public shareholding threshold.
2:51 PMEconomic Times
EAAA India Alternatives raised about Rs 360 crore from anchor investors ahead of its IPO, which opens for public subscription on October 26. The offering is entirely an offer for sale, so the company will receive no proceeds.
12:50 PMEconomic Times
Shree Cement’s September-quarter net profit fell more than 15% year on year to Rs 263 crore, marking its third consecutive quarterly decline. Revenue rose 24% and sales volumes increased 14%, but higher fuel costs outweighed stronger premium-product sales.
12:03 PMEconomic Times
BPCL’s Q2 FY27 net profit fell 21.45% year on year to Rs 4,863.05 crore despite a 29.78% increase in revenue. Performance improved sharply from the previous quarter’s loss, and the company approved a subsidiary for its proposed Andhra Pradesh refinery.
11:27 AMEconomic Times
The RBI governor reiterated that non-bank finance companies classified in the upper layer must list on stock exchanges. The statement restated the regulator’s position without directly commenting on Tata Sons, which has been under scrutiny over the requirement.
11:25 AMEconomic Times
SBI Cards reported a 75% year-on-year rise in Q2 FY27 profit to Rs 778 crore, helped by lower credit costs and improved asset quality. Corporate card spending fell, receivables contracted, and net interest margins narrowed.
9:45 AMEconomic Times
Godrej Properties’ Q2 FY27 net profit fell 63.9% to ₹145.47 crore, even as total income rose 31.9% to ₹2,571.73 crore. Booking value reached ₹8,008 crore, collections climbed 31% to ₹5,318 crore, and operating cash flow rose to ₹1,584 crore.
8:35 AMEconomic Times RealtyIndia is building expressways to speed up freight movement, but many truckers continue using older roads because they offer cheaper food, repairs and rest stops. The mismatch threatens the returns expected from the country's major road-building push.
1:21 AMBloomberg MarketsSummary
Dr. Reddy's Laboratories reported weaker revenue and a 36% decline in second-quarter profit. The company supported new trade-margin regulations aimed at improving access to essential medicines while continuing to pursue growth in its core business.
Dr. Reddy's is accepting near-term pressure on channel economics in exchange for a regulatory framework
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Trade-margin caps could reshape pharmaceutical distribution economics while adding to earnings pressure for companies already facing a weak quarter.
Summary
Adani Power's net profit rose 142% in the July-September quarter as strong electricity demand and prior-period income lifted results. Operating revenue increased nearly 30%, with additional revenue recognized from adjustments to historic energy charges under power purchase agreements.
The headline profit surge is partly nonrecurring, so it overstates the improvement in underlying operating
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The results reinforce the power sector's earnings momentum while underscoring the difficulty of valuing profits that include retroactive claims.
Summary
BSE has begun searching for a new managing director and chief executive officer ahead of Sundararaman Ramamurthy's scheduled retirement in June 2027. Candidates must have at least 20 years of experience, including senior leadership roles, and be under 62 on July 1, 2027.
Starting the process two years before the scheduled exit gives BSE time to run a
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
BSE is signaling a planned succession process for a leadership role central to the exchange's strategy and market position.
Summary
Tata Motors' standalone commercial-vehicle business reported a net profit of Rs 2,138 crore in the September quarter, compared with a loss a year earlier. Revenue rose 42% to Rs 23,930 crore, while consolidated profit reached Rs 1,257 crore, helped partly by lower mark-to-market losses.
The turnaround reflects stronger fleet utilisation and industrial activity, giving Tata Motors operating support beyond
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The result signals a sharp recovery in India's commercial-vehicle cycle and improves confidence in Tata Motors' earnings trajectory.
Summary
India's HSBC Flash Composite PMI rose to 56.7 in October, its strongest reading in four months, as new orders and services activity improved. Manufacturing remained steady, exports grew strongly and employment edged up, although firms remained cautious about hiring.
The rebound confirms that domestic demand and international orders are supporting growth despite limited expansion
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
India's growth remains resilient, but restrained hiring signals that confidence has not fully broadened.
Summary
The government plans a second public InvIT backed by a cluster of 10 national highways, with the aim of completing it before the end of the financial year. It also plans to reduce its equity stakes in nationalised banks to the 75% minimum public shareholding threshold.
Meeting the asset-monetisation target will not end the programme, as the government is preparing another
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Continued monetisation could deepen private participation in infrastructure while reducing the state's ownership of public-sector banks.
Summary
EAAA India Alternatives raised about Rs 360 crore from anchor investors ahead of its IPO, which opens for public subscription on October 26. The offering is entirely an offer for sale, so the company will receive no proceeds.
Strong institutional demand gives the IPO an early validation, but it does not provide fresh
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The anchor allocation signals institutional appetite, but the IPO will not strengthen the company’s balance sheet.
Summary
Shree Cement’s September-quarter net profit fell more than 15% year on year to Rs 263 crore, marking its third consecutive quarterly decline. Revenue rose 24% and sales volumes increased 14%, but higher fuel costs outweighed stronger premium-product sales.
Cost inflation is absorbing the benefit of higher volumes and revenue, exposing the limits of
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The results show that demand growth is not translating into earnings growth when input costs rise faster than pricing.
Summary
BPCL’s Q2 FY27 net profit fell 21.45% year on year to Rs 4,863.05 crore despite a 29.78% increase in revenue. Performance improved sharply from the previous quarter’s loss, and the company approved a subsidiary for its proposed Andhra Pradesh refinery.
The year-on-year profit decline shows that higher sales did not translate into stronger earnings, even
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
BPCL has recovered from a weak prior quarter but is pairing volatile near-term earnings with a large expansion plan.
Summary
The RBI governor reiterated that non-bank finance companies classified in the upper layer must list on stock exchanges. The statement restated the regulator’s position without directly commenting on Tata Sons, which has been under scrutiny over the requirement.
The repeated assertion leaves Tata Sons with limited regulatory room to avoid the listing framework
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
A listing could alter Tata Sons’ ownership structure, transparency and governance while setting a precedent for large holding companies.
Summary
SBI Cards reported a 75% year-on-year rise in Q2 FY27 profit to Rs 778 crore, helped by lower credit costs and improved asset quality. Corporate card spending fell, receivables contracted, and net interest margins narrowed.
The earnings surge reflects credit normalization more than broad-based growth, as falling bad-loan costs offset
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
SBI Cards is earning more from cleaner credit, but weaker balances and margins could limit the durability of its profit growth.
Summary
Godrej Properties’ Q2 FY27 net profit fell 63.9% to ₹145.47 crore, even as total income rose 31.9% to ₹2,571.73 crore. Booking value reached ₹8,008 crore, collections climbed 31% to ₹5,318 crore, and operating cash flow rose to ₹1,584 crore.
The sharp profit decline contrasts with strong bookings, collections, and cash generation, pointing to timing
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Operating momentum remains strong, but profitability has yet to keep pace with Godrej Properties’ sales growth.
Summary
India is building expressways to speed up freight movement, but many truckers continue using older roads because they offer cheaper food, repairs and rest stops. The mismatch threatens the returns expected from the country's major road-building push.
Lower operating costs on older routes are outweighing the time savings offered by expressways. Unless
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Infrastructure delivers economic value only when its pricing and supporting services match how businesses actually operate.
Make it yours
Pick your topics, set your cadence, and receive your personalized First Pass in your inbox. It’s that simple!
