The Economic Times

WeWork India reported a 149.5% year-on-year rise in first-half FY27 net profit to Rs 119 crore, while revenue grew 30.1% to Rs 1,466.7 crore. Capacity expansion, membership growth and improved operating margins supported performance. Operating cash flow strengthened, and the company shifted to a net cash position amid rising demand for flexible workspaces.

Despite a roughly 4% decline in the Nifty 50 and Nifty Microcap 250 over three months, 40 Nifty Microcap 250 stocks posted double-digit gains. PC Jeweller led the top 10 outperformers, with its share price surging 78%, followed by Sigma Advanced Systems at 57%.

European shares fell as HSBC's disappointing revenue weighed on banking stocks, while political unrest in France dampened investor sentiment. The STOXX 600 slipped, with gains in healthcare stocks following Novartis' upgraded earnings outlook offering some support.

The Uttar Pradesh Cabinet has approved four link expressway projects that will span approximately 322 kilometers. These projects will be developed by the Uttar Pradesh Expressways Industrial Development Authority under the EPC mode. The total cost for these projects amounts to Rs 17,542.06 crore and is to be fully borne by the state government. Completion of these expressways is expected within three years from the start of construction.

The Indian rupee had a day of modest variability against the dollar on Tuesday, finishing the day almost unchanged. Major external challenges, including escalating oil prices and considerable equity outflows, are to blame. The Reserve Bank of India has actively sought to stabilize the rupee's position. In light of current economic dynamics, investors are taking this opportunity to revisit their portfolio strategies, while mounting U.S.

In the July-September quarter, Maruti Suzuki India experienced a notable 26% decrease in net profit compared to last year. Still, revenue shot up by 26% year-on-year, totaling Rs 53,356 crore. Rising material and labor expenses grew total costs by about 30%, which hurt profit margins. Nonetheless, the company hit an impressive milestone with its highest quarterly sales volume of 6.97 lakh units.

Cipla reported a 35% year-on-year decline in second-quarter net profit to Rs 878 crore, with revenue and EBITDA also falling amid weaker North American sales. India revenue grew 12%, while US regulatory approval and a biosimilar partnership supported its product pipeline.

Amidst rising US Treasury yields and a depreciating rupee, multiple Indian banks, such as Canara Bank, PNB, and Bank of India, are delaying their dollar debt initiatives. The looming expiration of the Reserve Bank of Indias hedging facility in December adds further pressure to these institutions. Nevertheless, there remains a glimmer of optimism among certain banks regarding potential future dollar bond sales as market conditions evolve.

Bajaj Auto Q2 Results: Revenue grew 34% YoY to Rs 20,003 crore for the first time, doubling over the past three years. The company also reported EBITDA exceeding Rs 4,000 crore, a rise of over 37% from the year-ago period.

GST officers cannot invoke fraud, wilful misstatement or suppression provisions merely because tax has not been paid or a discrepancy is found, the CBIC has clarified. Such provisions can be used only where there is specific evidence of deliberate intent to evade tax, and that evidence must be clearly set out in the show cause notice.

Anthropic's potential US stock market listing has brought the IPO process into focus, from regulatory filings and confidential reviews to investor roadshows, pricing and share allocation. The process typically takes three to six months, with market conditions and investor demand influencing the outcome.

Recent elections in the US, Brazil, and Israel may impact India's trade negotiations and economic partnerships. The US is close to finalizing a trade pact, which could affect Indian exports significantly. Brazil's growing economic relationship with India is leading to ambitious trade targets between the two nations. In Israel, the continuation of defense cooperation and negotiations for a free trade agreement are crucial for India.

Under UP State Livestock Mission, farmers buying eligible indigenous cows will receive a subsidy of Rs 40,000 per animal. The government will also pay 85% of the livestock insurance premium, leaving owners to bear the remaining 15%.

The Reserve Bank of India is anticipated to raise the repo rate to 6.25% by mid-2027. This increase is driven by persistent inflationary pressures and robust economic growth expectations. Deutsche Bank forecasts an average consumer price index inflation of 6% in late 2026, stabilizing to 4.7% by FY28. India's GDP growth is projected above 7% for both FY27 and FY28.

India plans to implement easing rules related to the goods and services tax for post-sale discounts while speeding up provisional refunds for businesses facing inverted duty structures from November 1, according to a government notification dated October 26.

Japans major life insurers are split on increasing domestic government bond holdings as rising yields make Japanese debt more attractive. Foreign bond selling has accelerated, but differences in investment strategies suggest any shift towards domestic bonds will be uneven.

Anthropics IPO filing highlights an unusual risk for investors, warning that its AI technology could pose catastrophic or existential risks to humanity if developed or deployed without adequate safeguards. According to Axios, more than 90 pages of the prospectus are devoted to risk factors, including concerns about AI misuse, weaponisation and autonomous systems.

Raghuram Rajan said India should avoid aggressively defending the rupee amid the current depreciation spree, stressing that a weaker rupee could only benefit India. The former RBI Governor cautioned against excessive use of foreign exchange reserves to maintain a specific exchange rate level.

Japanese government bond prices declined as a rally in AI-related equities reduced demand for safe-haven assets. The benchmark 10-year JGB yield rose to 2.795%, while shorter- and longer-term yields mostly increased. Investors are awaiting policy signals from the US Federal Reserve and Bank of Japan, particularly guidance on the timing of Japans next interest-rate hike.

Revenue from operations dropped 2.4% YoY to Rs 7,404 crore in Q2FY27

Dalal Street faces significant market challenges, leading Kotak Institutional Equities to spotlight selective stock value. With large-cap stocks in view, the impact of geopolitical strife and fluctuating crude oil prices weighs heavily on investor sentiment. The brokerage sees potential recovery catalysts in peace talks regarding the Iran-US situation and favorable Q2 earnings.

The West Asia crisis may impose a fiscal burden of approximately Rs 1.35 lakh crore on India. Government spending has generally remained below budget estimates, providing financial flexibility for these pressures. Higher customs duty collections from gold and silver imports might help offset some costs. ICRA anticipates GDP growth to remain robust, exceeding 7 percent in the second quarter of FY27.

HSBC has announced a remarkable 32% rise in pretax profits for the third quarter, totaling $9.6 billion. This surge is attributed to increased interest rates and a decrease in anticipated credit losses, significantly boosting profitability. However, despite these promising results and a share buyback initiative, the bank's shares saw a decline of over 3%. The interim dividend remains steady at $0.

Axis Direct has identified nine stocks for Diwali Samvat 2082, with projected upside of 15% to 20%. Its picks span banking, healthcare, hospitality, automobiles, IT, metals and engineering, with earnings growth and sector opportunities central to the investment outlook.

The US Federal Reserve is widely expected to keep interest rates unchanged at its October meeting amid persistent inflation and elevated borrowing costs. Investors will scrutinise Chairman Kevin Warshs comments on inflation, policy independence and future rate decisions, with potential December tightening and internal disagreements remaining key concerns for financial markets and households.

Mankind Pharma shares jumped nearly 8% after the company reported a 38% year-on-year rise in Q2 profit to Rs 716 crore. Revenue grew 17%, supported by domestic and export growth, while EBITDA margins expanded 210 basis points.

Jio Platforms could overtake Bharti Airtel to become Indias second-largest listed company after its October 28 debut, with a 22% grey market premium implying a market capitalisation of Rs 12.5 lakh crore. Its Rs 30,213-crore IPO drew 22.2 times subscription, while brokerages highlighted growth opportunities in broadband, enterprise technology and AI.

Jefferies sees a wide risk-reward range for Vodafone Idea, forecasting up to 143% upside in its bull case and 25% downside in its bear case. Network expansion, improving subscriber trends and tariff hikes could support strong revenue and EBITDA growth.

China and Hong Kong stocks edged lower as weakness in technology and AI-related shares outweighed faster industrial-profit growth and fresh liquidity support from Chinas central bank.

Jio Platforms shares are set to list on the BSE and NSE on October 28, with the IPO commanding a grey market premium of around 22%. The Rs 30,213-crore issue was subscribed 22.19 times, led by strong institutional demand. Investors will watch the listing amid Jios growth ambitions and financial performance.

AI-focused neocloud stocks came under pressure after Elon Musk warned of widespread failures and industry consolidation. Heavy debt, rising financing costs, mounting losses and doubts over sustainable returns are intensifying scrutiny of the AI infrastructure boom.

Chinas yuan held near a four-year high against the US dollar as the central bank moderated its daily fixing. Export-related demand and stronger industrial profits supported the currency, while global markets awaited key central bank decisions.

Japans Nikkei surged nearly 2%, snapping a three-session losing streak, as Anthropics US IPO plans and gains in American semiconductor stocks boosted AI-linked shares such as Advantest, SoftBank and Tokyo Electron.

AI stocks rallied after Anthropic disclosed IPO paperwork, with Nvidia gaining nearly 3% and the Philadelphia Semiconductor Index climbing over 3%. Chipmakers, data centre operators and AI infrastructure firms also advanced. The potential listings of Anthropic and OpenAI could offer new valuation benchmarks, even as concerns over AI spending and financing costs persist.

In early trade, Indian government bonds improved as oil prices found stability after last week's surge. Traders remained cautious ahead of a significant policy decision by the US Federal Reserve on Wednesday. India's bond yields decreased slightly, although overall demand for longer maturities has declined amid inflation concerns. The Indian rupee remained stable as fears of further rate hikes from the Reserve Bank of India persisted.

India imported $44.9 billion of Russian goods during the period, including $36 billion in crude oil. Indian exports to Russia totaled $2.8 billion, with Moscow increasing purchases of chemicals, electrical goods, medical equipment, seafood, tea, and spices.

Indian IT stocks fell amid reports that Anthropic, the maker of Claude, is preparing for an IPO that could value it at around $1.5 trillion. While the listing would open up investment opportunities in a leading AI developer, rising infrastructure costs, mounting losses and concerns over growth sustainability remain key risks.

Sona Comstar shares surged nearly 6% after the company reported record Q2FY27 revenue and profit, driven by robust growth in its electric-vehicle business, new orders and product launches.

Sigma Advanced Systems shares rallied after the defence manufacturer secured a Rs 973-crore order from a NATO customer for Base Bleed Units used in 155 mm artillery ammunition. The contract strengthens its push towards vertical integration and expanded manufacturing capabilities.

Jio Platforms Rs 30,188-crore IPO was subscribed 22.19 times, with the final issue price set at Rs 1,119 per share. As the stock prepares to list on the NSE and BSE on October 28, investors who missed the allotment are weighing whether to buy on debut or wait for a potential correction.

Small cap mutual funds have proven to be the top performers in the market, offering impressive returns as high as 16%. The Bank of India Small Cap Fund took the lead with a notable return of 15.51%. However, investment experts emphasize a cautious approach to valuations, despite an optimistic long-term outlook for small caps.

Ather Energy shares extended their rally on Tuesday after the electric two-wheeler maker reported its first quarterly profit of Rs 1.26 crore in Q2 FY27. Revenue surged 63% year-on-year to Rs 1,464 crore, while EBITDA turned positive. Nomura raised its target price to Rs 2,070 and retained its Buy rating.

Jio Platforms is gearing up for a groundbreaking debut on October 28, following a remarkable Rs 30,188 crore IPO. Historical insights indicate a varied trajectory for past mega IPOs in India. The overwhelming demand is evident from Jio's impressive 22.19 times oversubscription. Analysts are weighing Jio's market dynamics and valuation as they predict potential listing advantages, with investor strategies hinging on both immediate valuations and sustained business growth.

In Maharashtra, the countrys largest sugar-producing state, close to 87 mills have commenced operations. More mills are expected to start in the coming week as cane harvesting gathers pace.

The Indian stock market nudged upward on Tuesday, with Sensex and Nifty making modest gains despite lingering challenges. Investors remained cautious due to high oil prices, which are currently at $115 per barrel. However, a notable surge in smallcap stocks is enhancing investor confidence. Analysts attribute this positive momentum to better corporate fundamentals and increased domestic fund inflows.

Anthropics planned IPO could test public-market appetite for AI companies as the Claude maker draws backing from major technology firms and global investors. Its listing may influence AI stock valuations, infrastructure spending expectations and investor confidence in the sector.

Anthropics planned IPO is set to test public-market appetite for artificial intelligence companies. Backed by Amazon, Google, leading venture capital firms, global institutions and prominent individual investors, the Claude maker has seen its valuation surge through successive funding rounds.