The Economic Times

Prestige Estates Projects Ltd reported a significant 39% increase in sales bookings to Rs 4183.6 crore in Q3 FY26, driven by strong housing property demand. The company achieved record-breaking sales of Rs 22,327.3 crore in the first nine months of the fiscal year, surpassing previous full-year peaks.

Wipro is expected to post muted Q3 performance, with revenue rising about 4% YoY and margins remaining under pressure due to furloughs, deal ramp-up costs and acquisition integration. Brokerages see flat profit growth and limited sequential momentum, while Q4 guidance and large deal conversions will be key investor focus areas.

US President Donald Trump said he has no immediate plans to remove Federal Reserve Chair Jerome Powell despite a Justice Department investigation into renovation cost overruns. The probe has intensified debate over central bank independence, drawing bipartisan criticism, even as Trump considers potential successors and defends a stronger presidential role in monetary policy.

NBFCs are set for their strongest earnings in nine quarters, with Motilal Oswal expecting robust Q3 growth led by steady AUM momentum, margin gains and controlled credit costs.

US economic activity showed broad-based stability in recent weeks, with most Federal Reserve districts reporting modest growth and steady employment, according to the latest Beige Book. Price pressures remained moderate, and markets expect the Fed to hold rates steady at its upcoming meeting as policymakers await clearer inflation trends.

Indian equity markets are experiencing a choppy phase, surprising investors despite intact fundamentals. Market veteran Dipan Mehta remains optimistic about the current earnings season, anticipating a potential rally beyond previous highs. He also favors wealth management firms over AMCs for financialization plays and sees a positive outlook for the IT sector driven by AI.

Nomura has initiated coverage on United Spirits with a Buy rating, citing premiumisation tailwinds, easing regulatory environment and innovation-led expansion. The brokerage sees a developing upcycle and expects margin expansion, healthy earnings growth and valuation comfort.

Tech Mahindra is poised for steady revenue growth and improved profitability in the December quarter, driven by margin expansion and cost optimization. Brokerages anticipate a modest revenue increase of around 7% year-on-year, with profit after tax projected to surge approximately 40% YoY, outperforming many peers.

Indian stock markets experienced their worst start to a year in a decade, with nearly Rs 8 lakh crore in market capitalization wiped out. Foreign institutional investors have pulled out $2 billion amid anxieties over a delayed India-US tariff deal and the upcoming Union Budget. Analysts anticipate continued range-bound trading until policy clarity emerges.

YES Securities believes Indian equities are entering 2026 with a structural growth tailwind despite global uncertainty. The brokerage has identified five high-conviction Buy-rated stocks, citing strong balance sheets, improving business mix and sector-specific drivers, with potential upsides of up to 26% across auto components, financials and banking.

Neel Kashkari said the Trump administrations actions against the Federal Reserve reflect monetary policy disagreements. He backed Jerome Powell after a Justice Department investigation, warning that political pressure threatens central bank independence. Despite escalating tensions, markets remain steady amid bipartisan support and expectations that the Supreme Court will recognise the Feds distinct status.

Indian stock exchanges observed a full trading holiday on Thursday, January 15, due to municipal elections in Maharashtra. Zerodha CEO Nithin Kamath criticized the closure, citing global market connectivity and poor planning. The debate intensified with Samir Arora questioning the consistency of such arguments, especially in light of markets opening on a Sunday for Budget Day.

Earlier, the company had planned to finalise allotment on January 14, initiate refunds on January 15 and list the stock on January 16.

Budget 2026 Expectations: India is treating rare earths as a key strategic test case to loosen Chinas grip on the sector, with the focus sharpening ahead of Budget 2026. Experts say the budget must prioritise de-risking private investmentthrough easier financing, tax incentives and assured offtake agreementsto scale up mining, processing and downstream manufacturing. The push is seen as critical to meeting Indias infrastructure build-out and energy transition goals.

Shadowfax IPO is in focus as investors track the latest grey market premium (GMP) and assess 10 key factors, including valuation, growth prospects and risks, ahead of the issues subscription window.

Silver prices have surged to record levels amid supply constraints, rising industrial demand, and supportive macro conditions. While analysts remain bullish, experts caution that breaching $100 in January may require a strong catalyst and could be accompanied by sharp volatility.

Crude oil prices remain volatile amid rising geopolitical risks across key regions. Analysts suggest oil is best used as a tactical hedge rather than a core investment, with energy equities offering more stable opportunities during uncertain global conditions.

Budget 2026 is anticipated to focus on reforms and attract foreign investors. Measures like tax relief and regulatory clarity are expected to boost confidence amid global uncertainty. Domestic savings through SIPs will continue to support the market. Experts foresee moderate earnings growth and recommend PSU Banks and Defence sectors. India's economy is projected for strong growth driven by domestic consumption.

Indian investors in 2026 are advised a layered approach to US equities amidst geopolitical uncertainty. Building a core with low-cost US ETFs and selectively adding high-conviction stocks balances diversification with opportunities in growth themes like AI, while managing risk effectively.

Shares of forklift maker Toyota Industries reached a record high today. This surge followed an improved offer from Toyota Motor. Investors are trading above the new price, anticipating an even better deal. The initial proposal faced criticism for its unclear valuation. Toyota Motor raised its bid by 15% to 18,800 yen per share. The tender period is now open.

Hong Kong-listed shares of a major Chinese online travel agency plummeted after regulators launched an antitrust probe. The company is suspected of abusing its dominant market position. Analysts suggest this could impact sentiment but not necessarily its industry standing. Potential fines could reach hundreds of millions of dollars, and divestment is also a possibility.

Emerging markets are set for a long growth period. A weak dollar and global growth continue to support this trend. New opportunities are emerging in commodities like gold and copper. Countries like Venezuela and Saudi Arabia are opening up for investment. The AI boom is also creating demand for resources found in emerging markets, offering diverse investment potential.

Thursday brings Q3 earnings for 27 companies. Investors will focus on HDFC Life Insurance, Angel One, and Jio Financial Services. Key metrics to watch include demand conditions, margins, and future outlook. Brokerages anticipate steady growth for HDFC Life, while Angel One may see a mixed quarter due to regulatory shifts.

Citigroup surpassed Wall Street profit expectations, driven by a surge in dealmaking and corporate client services. Investment banking fees soared, and M&A advisory hit record highs in 2025. Despite a Russian unit sale loss, the bank's performance signals a turnaround, with ongoing efforts to fix risk controls and potential job cuts due to automation.

Wells Fargo reported lower profits, impacted by severance costs for operational streamlining. The bank's shares saw a significant drop. Despite missing some profit targets, Wells Fargo is focusing on growth initiatives, including new credit card products and AI investment. The lifting of an asset cap offers potential for expansion.

Silicon Valley is abuzz with mega IPOs as AI giants OpenAI and Anthropic, alongside Elon Musk's SpaceX, prepare to list. These high-profile tech companies, valued in the hundreds of billions, could signal a new era of unprecedented deal sizes. Wall Street anticipates a bonanza, while investors eagerly await a clearer view of AI's moneymaking potential.

Gold prices eased on Thursday after reaching record highs. Investors took profits as U.S. President Donald Trump softened his stance on the Federal Reserve chair and Iran. This reduced demand for gold as a safe haven. Other precious metals like silver, platinum, and palladium also saw declines. Market participants are now awaiting U.S. jobless claims data for further economic clues.

The yen hovered near 18-month lows as traders anticipated intervention following strong warnings ahead of a Japanese election that could spur fiscal stimulus. Meanwhile, the dollar recovered from initial weakness after Federal Reserve Chair Powell addressed subpoena concerns, though worries about Fed independence persist amid positive U.S. economic data.

Oil prices dropped significantly as President Trump indicated a halt to killings in Iran, easing fears of military action and supply disruptions. Adding to the bearish sentiment, U.S. crude and gasoline inventories saw a sharp rise, while Venezuela resumed oil exports. These factors overshadowed positive demand forecasts from OPEC and strong Chinese import data.

Asia's benchmark share index is poised to dip from a record high following Wall Street's decline, driven by a rotation out of expensive technology stocks. Futures for Japan, Hong Kong, and China fell as the Nasdaq 100 dropped. Oil prices also decreased after President Trump indicated Iran would halt protester killings.

U.S. stocks declined Wednesday, led by a drop in the Nasdaq and technology shares as investors sought defensive sectors. Bank stocks extended losses following mixed earnings and concerns over a proposed credit-card interest rate cap. The Russell 2000 and S&P 500 industrials, however, hit record highs.

NSE Holiday Today 2026: Both exchanges issued revised circulars confirming the trading holiday. The BSE clarified that equity derivatives contracts originally scheduled to expire on January 15, were revised to expire a day earlier, on January 14.

Trading on MCX will be limited to the evening session on Wednesday, January 15. This is due to Municipal Corporation elections in Maharashtra. The Indian stock market will also be closed on this day. Both BSE and NSE have confirmed the trading holiday. Equity derivatives contracts expiring on January 15 will now expire a day earlier.

Dixon Technologies' stock faces pressure from rising memory chip costs and upcoming regulatory changes. The company, a major Android handset maker, sees its stock decline. Analysts point to government approvals, memory price surges impacting demand, and the end of the PLI scheme as key concerns. Dixon is investing in component manufacturing and expanding capacity to navigate these challenges.

Indian metal producers are seeing record stock prices. Commodity prices are rising due to global uncertainty and industrial demand. Gold and silver have seen significant gains. Copper prices are also at record highs. Analysts have mixed views, with some advising caution on overbought stocks while others expect the rally to continue.

Elara Capital forecasts the Nifty index to reach 30,000 by March 2027. This projection suggests a potential 17% increase from current levels. The brokerage anticipates an earnings rebound will fuel this surge. Elara favors the consumption sector, particularly premiumization themes in discretionary spending, auto, jewelry, beauty, personal care, and hotels. NBFCs, private banks, and oil marketing companies are also preferred.

Housing finance companies face a challenging December quarter with slower growth and squeezed margins due to aggressive bank competition. While large firms grapple with lower rates, affordable housing lenders are expected to maintain profitability by keeping their lending rates steady. Analysts anticipate stable asset quality despite some localized stress.

Indian Overseas Bank and Punjab & Sind Bank are set to raise 4,000 crore and 3,000 crore respectively through qualified institutional placements this quarter. IOB has secured necessary approvals and is appointing merchant bankers, while Punjab & Sind Bank will hold an EGM on January 21 to consider its equity capital raise.

Coca-Cola is preparing to list its Indian bottling arm, Hindustan Coca-Cola Beverages (HCCB), through an IPO this summer to raise approximately $1 billion. The company is valued at nearly $10 billion, with investment bankers like Kotak, HDFC Group, and Citibank onboard. This move aligns with Coca-Cola's global strategy of focusing on brand building rather than direct ownership of capital-intensive operations.

Anand Rathi Share and Stock Brokers reported strong financial results for the December quarter. The company's net profit surged by 32.6% compared to the previous quarter and an impressive 71.8% year-on-year. Operating revenue also saw a healthy increase of 9.2% sequentially and 21.5% from the same period last year. These figures highlight robust growth for the brokerage firm.

The Reserve Bank of India has introduced new banking rules for calculating foreign exchange risk capital charges, aiming for international alignment. Banks will now compute these requirements continuously at consolidated and standalone levels, with changes effective April 1, 2027. The RBI also allows exclusion of specific 'structural' foreign exchange positions under strict conditions.

Infosys secured significant large deals in the December quarter, exceeding revenue expectations. A one-time impact from labor code changes affected profits. The company also increased its FY26 revenue growth forecast. This follows positive results from peers like TCS and HCL Tech. Clients are adopting new AI technology platforms. Infosys saw its headcount rise and attrition rates fall.

Overseas capital in Indian equities has shifted structurally, with US and European investors now dominating over traditional tax havens like Mauritius. Tighter tax norms and regulatory disclosures, including the principal purpose test and beneficial ownership rules, have reduced the appeal of Mauritius, leading to significant withdrawals from Indian equities in 2025.

The pace of rise in bank profitability is likely to bottom out this fiscal year, and gradually improve in FY27 as funding pressures ease and net interest margins (NIMs) stabilise, the agency said in its outlook on the financial sector for FY27.

India's exports to Hong Kong are surging. Shipments of silver jewellery, electronics, and processed stones have seen substantial growth. Cut and polished diamonds are leading this increase. This trend highlights Hong Kong's growing importance as a trading hub for India. Diversification of exports is a key factor. Electronics and silver jewellery exports have more than doubled.

Wholesale prices have exited deflation. Inflation reached an eight-month high of 0.83% in December. This shift was driven by stable food prices and rising costs for manufactured goods. Retail inflation also saw an increase. Experts note base effects and stable prices contributed to the wholesale inflation rate. The commerce ministry highlighted increases in various manufacturing sectors.

International investors await a crucial Supreme Court verdict on Tiger Global's tax case. This ruling will significantly impact how foreign funds structure their investments in India. The decision could redefine tax implications for indirect transfers and the validity of tax residency certificates. Investors are closely watching for clarity on tax rules and their potential impact on future investment decisions.

RBI has proposed significant changes to how banks manage their foreign exchange exposure. These updates aim to align Indian regulations with global Basel standards, simplifying calculations by merging offshore and onshore positions. The move also includes treating gold separately and exempting certain structural forex holdings, ensuring consistent application across all financial institutions.

The Reserve Bank of India has enhanced its review mechanism for customer complaints within regulated entities, mandating a senior-level review before rejection or partial resolution. This move aims to ensure speedy and meaningful grievance redressal, with internal ombudsmen playing a key role in oversight and reporting to the board's customer service committee.