The Economic Times

Elon Musks SpaceX may be heading for a record-breaking IPO, potentially raising $50 billion. From reusable rockets to Starlinks recurring revenue, the listing could reshape global markets while testing investor appetite for future technologies.

India and the European Union have signed a significant free trade agreement. This landmark deal is expected to transform business environments for Indian industries. It will strengthen supply chains and create new avenues for innovation-led Indian manufacturers. TVS Motor Company sees this as a major milestone, focusing on opportunities in Europe and beyond.

SBI Life Q3 Results: SBI Life announced a 5% rise in net profit to Rs 577 crore for the third quarter. Net premium income saw a 22% increase. Growth was driven by industry momentum and higher policy volumes. The company maintained its leadership in individual rated premium. Assets under management grew 16%. The financial position strengthened with a 15% rise in net worth.

Bharat Electronics Ltd. shares surged to a 52-week high following robust December quarter results. The defence major reported a 21% year-on-year jump in net profit to Rs 1,580 crore and a 24% revenue increase to Rs 7,154 crore. This strong performance, driven by defence indigenisation and a growing order book, signals continued momentum for BEL.

ACC Q3 Results: ACC's net profit saw a significant drop of 63 percent year-on-year for the December quarter. The company posted a profit of Rs 404 crore. However, its revenue from operations showed growth, increasing by 22 percent to Rs 6,391 crore. This performance reflects a mixed financial outcome for the Adani Group firm during the period.

Adani Electricity Mumbai has secured a AAA credit rating from India Ratings, placing the private utility on par with Indias sovereign credit profile. The upgrade reflects regulatory support, declining leverage and improved operating performance following a turnaround since its acquisition in 2018.

European shares took a breather on Wednesday after two consecutive days of gains as investors parsed through a string of earnings updates and executive commentary, while ASML hit a record high.

Japan's Nikkei share average ended slightly higher on Wednesday, buoyed in the final half-hour of trade by stronger-than-expected orders at Dutch chip equipment maker ASML.

A new Free Trade Agreement between India and the European Union promises a significant boost for India's textile and apparel industry. Import duties on Indian textile exports to the EU will be eliminated, making Indian products more competitive. This move is expected to drive substantial growth in exports and create millions of jobs in the labour-intensive sector.

Maruti Suzuki Q3 Results: Maruti Suzuki reported a 4% year-on-year rise in net profit to Rs 3,794 crore for the December quarter, driven by a 29% increase in revenue to Rs 49,891 crore. However, lower export proceeds and a one-time provision impacted profitability, leading to a smaller-than-expected quarterly profit. The results saw the company's shares recover slightly from their day's low.

State-owned defence electronics major Bharat Electronics Ltd (BEL) announced a strong performance for the December quarter, with consolidated net profit surging 21% year-on-year to Rs 1,580 crore. Revenue from operations also saw a significant jump of 24% YoY, reaching Rs 7,154 crore, indicating robust growth for the company.

Shadowfax is at the forefront of India's last-mile logistics evolution. The company is experiencing strong growth driven by e-commerce and quick commerce. Aggressive expansion into new areas and technology are key. Shadowfax is improving efficiency and profitability. The company is set to play a significant role in the country's logistics future.

Short-end euro zone bond yields fell on Wednesday after European Central Bank policymaker Martin Kocher warned that further euro strength could force them to resume interest rate cuts.

Realty firm Mindspace Business Parks REIT on Tuesday reported a 33 per cent increase in consolidated net profit to Rs 180.09 crore in the December quarter of this fiscal year on higher income.

While India Inc's global trade and credit profiles remain largely unaffected by Iran's unrest, potential disruptions loom for sectors like oil refining, aviation, and crude-linked industries if tensions escalate. Direct trade with Iran is minimal, but rising crude prices could impact various sectors, with basmati rice and fruit/nut traders facing specific challenges.

Union Budget 2026: The upcoming budget holds immense potential for boosting economic growth. The India-EU Free Trade Agreement and ongoing reforms offer a strong foundation. Focus areas include transforming rural economies, strengthening manufacturing, enabling services, advancing hi-tech skilling and improving infrastructure.

TVS Motor Q3 Results: The companys revenue from operations stood at Rs 14,756 crore in Q3FY26, up 34% from Rs 11,034 crore reported in the corresponding period of the previous financial year.

Indian investors are seeking value amidst global market volatility, with expert Punita Kumar Sinha advising a selective approach. While commodities and real estate show promise, equities remain dominant, especially for those with limited overseas investment options. Sinha emphasizes stock-specific opportunities over broad sector calls, particularly in IT and capital expenditure cycles.

Brokerage commentary suggests that while the overall fiscal stance is likely to remain disciplined, the composition of government spending could shift meaningfully. Jefferies expects total government capital expenditure to grow by about 12% in FY27 to Rs 12.5 lakh crore, but flags that defence capex may grow much fasterby as much as 25%.

Shriram Finance shares have nearly doubled in a year, driven by strong AUM growth, improving margins and MUFGs strategic investment. Analysts remain positive on fundamentals but warn of near-term consolidation as momentum indicators signal overbought levels.

A new analysis by the Kiel Institute for the World Economy shows that deeper EU-India integration could boost bilateral trade by 41 to 65 per cent, significantly expand economic ties between the European Union and India at a time of rising global trade fragmentation.

India's middle class anticipates Budget 2026, with expectations tempered after previous tax and GST cuts. Focus shifts to indirect tax reforms for reduced compliance costs and improved working capital, alongside potential relief for service exporters and a revival of tax incentives for debt funds.

Swiggy is expected to post strong revenue growth of about 47% YoY in Q3FY26, led by steady food delivery demand and a sharp rise in quick commerce. However, continued investments in Instamart, rising competition, and dark store expansion costs are likely to widen losses, with brokerages estimating a Q3 loss in the range of Rs 8041,045 crore.

CarTrade Tech shares slid sharply after the company reported strong December-quarter profit growth and a significant expansion in margins, with investors focusing instead on a slowdown in revenue growth compared with the prior quarter.

As India braces for budget week, market watchers are seeking catalysts to lure back cautious foreign institutional investors. Persistent outflows and concerns over earnings trajectory and valuations have weighed on sentiment. However, strategist Punita Kumar Sinha believes pessimism is overdone, highlighting potential positive triggers like the EU trade deal and budget announcements.

Shadowfax Technologies shares rebounded 6% to Rs 119.5 after a discounted listing at Rs 124. The IPO saw a 2.8x subscription, with institutional investors driving demand. Analysts advise caution for fresh investors, recommending a hold for allottees with strict stop losses due to valuation concerns.

India's 2026 Union Budget will strategically adjust trade policies. It aims to open doors for foreign goods that strengthen local supply chains and reduce costs. This move is part of a larger plan to reduce reliance on single suppliers and vulnerable trade routes.

Vietnam's State Treasury secured 8.44 trillion dong from its latest government bond auction, a dip from the previous week's 12 trillion dong offering. While 58% of bonds were sold, the auction saw no uptake for 5- and 30-year maturities. This brings the year's total government bond sales to 24.4 trillion dong, crucial for funding public investments and economic growth.

Market experts advise investors to delay significant moves until the Union Budget is presented, despite positive sentiment from the India-EU trade deal. Sunil Subramaniam suggests waiting for the budget to reassess opportunities, highlighting banking, IT, and consumption as key sectors to watch for earnings.

India's Department for Promotion of Industry and Internal Trade is proposing updates to the Designs Act. The changes aim to protect digital and virtual designs, reflecting modern innovation. The law will be updated to include graphical user interfaces and animated designs. Other proposals include extending protection periods and simplifying filing processes.

Indian sovereign bonds saw a slight increase as the Reserve Bank of India advanced its open market purchases by a week, prompting some traders to reduce bearish positions. The benchmark 10-year bond yield hovered around 6.7083%. However, concerns about future supply and a potentially larger borrowing plan for the next fiscal year are expected to temper further gains.

India has secured a significant advantage in its new free trade agreement with the European Union. US Trade Representative Jamieson Greer highlighted India's increased market access to Europe. The deal also includes provisions for the mobility of Indian workers. This pact is expected to boost Indian exports and strengthen economic ties between India and the EU.

Paytm is expected to post another profitable Q3, driven by festive-led demand in payments and financial services. Brokerages forecast a return to year-on-year profitability, around 6% sequential growth, and continued margin expansion, with revenue seen rising up to 22% YoY to about Rs 2,1872,225 crore.

The Union Budget 2026 will include recommendations from the 16th Finance Commission. This constitutional body has submitted its report on tax sharing between the Centre and states. The commission's suggestions for the period 2026-27 to 2030-31 will be crucial. Historically, the government accepts these recommendations. The report details tax devolution formulas and grants-in-aid to states.

Union Budget 2026 will heavily influence bond markets as its fiscal strategy shapes borrowing levels, yield stability and investor confidence. With consolidation expected to keep long-term yields anchored, corporate bond spreads may remain tight, supporting steady returns for fixed-income investors, including those on online bond platforms.

Oil India shares saw a significant jump on Wednesday. This rise followed a sharp increase in global crude oil prices, reaching a four-month peak. Geopolitical tensions, including concerns over US-Iran and Russia-Ukraine conflicts, along with supply disruptions, fueled the market sentiment. Analysts suggest a positive technical outlook for the stock.

Japanese government bonds rallied as yields near record highs attracted strong demand at a super-long-term debt auction. The 40-year JGB yield fell following the sale, while the benchmark 10-year yield also decreased. This comes amid expectations of further debt-funded stimulus and a potential snap election.

ONGC shares rose nearly 6% after its joint venture with Mitsui O.S.K. Lines signed shipbuilding contracts with Samsung Heavy Industries for two ethane carriers, strengthening energy logistics for OPaL and reinforcing bullish valuation and technical indicators.

Suzlon Energy shares climbed over 3% after the company secured a 248.85 MW wind power order from ArcelorMittal. The deal strengthens Suzlons green steel portfolio and reinforces its leadership in Gujarats wind energy market.

Indias commodity derivatives market is poised for transformation if the Budget 2026 addresses key reforms. Lower CTT, tax clarity, wider institutional participation, stronger physicalderivatives linkages, and advances in options, margins, technology and regulatory stability can unlock liquidity, improve hedging efficiency and position India as a global commodity risk-management hub.

Bitcoin and Ethereum showed cautious optimism, nearing $89,000 and $3,000 respectively, as buyers re-entered key support zones ahead of the Federal Reserve's rate decision. While major altcoins saw significant gains, Bitcoin and Ethereum are expected to trade within consolidation ranges until a clear macro trigger emerges.

Hindustan Copper shares surged nearly 15% in two sessions after the state-owned miner emerged as the preferred bidder for a new copper block in Madhya Pradesh, reinforcing investor optimism amid a strong global metals rally and bullish technical signals.

Indias housing market risks deepening inequality as affordable supply collapses despite booming luxury sales. With EMIs surging, demand unmet and developers abandoning low-margin projects, Budget 2026 must revive incentives, expand infrastructure, update affordability norms and strengthen subsidies to restore balance and make homeownership achievable for the middle class.

SpaceX is reportedly exploring a mid-June 2026 IPO that could raise up to $50 billion at a massive $1.5 trillion valuation, according to the Financial Times.

The New York Federal Reserve's recent action has lowered the bar for Japan to intervene in currency markets. This has led to a strong rebound in the yen after a period of weakness. However, coordinated intervention by Japan and the United States is not expected soon. This development has kept currency markets watchful.

India enjoys a rare 'Goldilocks moment' with strong growth and low inflation, according to Swaminathan Aiyar. He urges the Finance Minister to prioritize stability over radical reforms, warning against disrupting this balance. Aiyar also expresses skepticism about budget-driven job creation, advocating for sustained economic strength and suggesting a rethink on Chinese investment to boost growth and leverage.

The US Federal Reserve is expected to hold interest rates steady after recent cuts, as economic growth remains stable and inflation, though easing, stays above target. Policymakers face a balancing act between employment and inflation. Political pressure from the White House and upcoming leadership changes add complexity to the Fed's outlook.

Tata Consumer Products shares dropped significantly on Wednesday. This occurred even as the company reported a 38% year-on-year profit jump and 15% revenue increase for the December quarter. Analysts from Morgan Stanley, Motilal Oswal, and JM Financial provided their views on the stock. Their recommendations range from Overweight to Buy and ADD, with varying price targets.

Global markets find reassurance in the Federal Reserve's independence. Despite President Trump's concerns about appointing aligned Fed chairs, bankers believe future leaders will prioritize economic data over politics. Institutions are preparing for various economic scenarios. Confidence in the Fed's autonomy remains crucial for market stability and inflation control.

ITC is expected to report moderate revenue and profit growth in Q3, supported by cigarette volume recovery and margin expansion. However, brokerages remain divided on profit estimates amid concerns over pricing pressures and potential cigarette tax hikes.