GROWTH SLOWDOWN IN INDIA
AI investment cycle may have peaked, Jefferies warns; raises India allocation to 14%
According to a recent Jefferies report, global investment in artificial intelligence appears to be facing a mid-cycle correction. Although US tech giants have ramped up their capital spending, there are growing concerns regarding both financing and profitability. This situation may adversely impact US economic growth. Investors are advised to explore opportunities outside the AI realm, especially in healthcare and biotechnology sectors.
Largecaps over SMIDs: Ambit’s Nitin Bhasin and Bharat Arora share their Samvat 2083 strategy
As we step into the new Samvat, investors are advised to take a more cautious stance with their portfolios. The focus should be on large-cap stocks and the banking sector due to their better earnings prospects and attractive valuations. Meanwhile, although mid- and small-cap sectors may face hurdles, the cement industry might see unexpected margin improvements.
US polls hit tech stocks; Qcomm’s Dhanteras gold rush
US technology stocks took a major beating days after the Democratic Party took control of both chambers of the Congress. This and more in today’s ETtech Top 5.
Airtel's premiumisation push comes at a cost as net subscriber additions fall 78%
Bharti Airtel's net mobile subscriber additions plunged 78% sequentially to 7.2 lakh in the September quarter after it discontinued its Rs 299 prepaid smartphone plan, pushing churn higher. However, stronger ARPU growth to Rs 271 helped offset slower additions, supporting revenue and operating profit growth.
Investors in other markets would be envious of India multiples: Rich Handler, chief executive of Jefferies
Jefferies CEO Rich Handler believes Indian equities remain reasonably valued despite the market correction and says easing long-term capital gains taxes could attract foreign investors. He sees opportunities in India's AI and data centre sectors, argues that global capital outflows reflect external pressures, and believes concerns about an AI bubble warrant a healthy pause rather than alarm.
D-St defies Asia rout! Sensex surges 1,500 pts, Nifty tops 24,900 as Diwali fireworks continue. What's ahead?
The Indian stock market defied global trends by experiencing gains, with Sensex and Nifty both rising up to 1% today. While international markets struggled, Indian equities benefitted from significant foreign investments. Mahindra & Mahindra led the charge in share price increases, although Nifty Smallcap and Midcap trended downwards. Analysts foresee ongoing strength in large-cap stocks, supported by robust earnings, and technical insights that may steer upcoming trading tactics.
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$5 billion in 5 days! Why FIIs are suddenly shopping Indian stocks non-stop this Diwali
Foreign institutional investors have poured nearly $5 billion into Indian equities in five trading sessions, marking a sharp reversal after months of heavy selling. Strong Q2 earnings, softer crude prices, stable currency and the global AI sell-off are improving India's appeal, with investors rotating towards relatively undervalued markets and large-cap stocks.
Bloodbath in Nasdaq, Kospi and Nikkei but why Nifty is an oasis of peace amid global rout
A global AI-led tech selloff has battered US and Asian markets, wiping out $3 trillion from S&P 500 companies. However, Indian equities are showing relative resilience as investors rotate away from crowded AI trades. Market experts believe India's lower exposure to the AI boom, attractive large-cap valuations and renewed foreign inflows could help it weather the global rout.
Infosys, Wipro, TCS and other IT stocks rise up to 3% as US AI rout deepens; is the bubble bursting?
In the wake of a worldwide AI stock decline, companies such as Infosys and TCS have seen their shares rise, demonstrating a contrasting trend. This downturn has sparked fears of impending regulations within the sector, prompting analysts to predict that Indian IT companies might leverage this moment to enhance their entrepreneurial AI ventures, all while experts caution against excessive financial commitments in the AI landscape.
Indian GCCs set to add 35k jobs in 2027
ANSR expects these jobs – ranging from 30,000 to 35,000 - to be added by 160-175 new greenfield GCCs amid an increasing number of inquiries from US mid-sized companies. The caveat emptor: Experts say this interest is yet to translate into plans for large-scale relocation of jobs from the US.
Big FMCG companies outgrow market as smaller rivals get squeezed by costs and slowing rural demand
India's fast-moving consumer goods sector has experienced a slowdown in volume growth amid rising costs. Rural demand has weakened, impacting smaller regional manufacturers while larger companies thrive. Hindustan Unilever, Marico, and other major firms reported robust growth figures. Smaller players are particularly vulnerable due to their limited capacity to manage current challenges.
LG Electronics shares jump 8% to 52-week high after Q2 results. Jefferies retains Buy, retains target price
LG Electronics India shares surged to a 52-week high after strong Q2FY27 results, with Jefferies retaining its Buy rating and Rs 1,950 target price. The brokerage expects 21% EPS CAGR through FY29, driven by premiumisation, capacity expansion and new business opportunities.
Smallcap SIP returns turn negative over 3 years despite high valuations. Should investors worry?
Smallcap SIP returns have slowed sharply, falling from nearly 40% in 2024 to mid-single digits in 2026 and approaching negative territory, according to a JioBlackRock Mutual Fund report. The decline comes despite elevated valuations and strong domestic investor positioning. The report highlights risks for investors entering at high market levels and underscores the need for caution when investing in smallcap funds.
Explained: 5 reasons why Trump’s midterm election setback matters for Indian markets and economy
Donald Trump’s midterm election setback has triggered a global market rally, with Indian equities gaining sharply. Lower crude oil prices, a weaker dollar, potential FII inflows, reduced tariff risks and changing US interest rate expectations could reshape India's economic outlook. Here are five key ways the political shift could impact markets.
Democratic victories threaten to slow US data-centre expansion, ease bond yields: ICICI Bank report
The US midterm election results have put 141 GW of planned data-centre capacity at risk of tighter policy restrictions, potentially slowing AI infrastructure investments, while supporting US Treasury bonds, according to an ICICI Bank report.
PhysicsWallah Q2 net profit doubles to Rs 144 crore, revenue rises 18%
The recovery followed a disruption to the admission cycle after the NEET UG (National Eligibility cum Entrance Test - Undergraduate) results were delayed till July 16. Although online enrolments for the medical entrance examination grew over 30% in the September quarter, the company said admissions and collections for the full admission cycle remained below last year.
Gold price correction to lift Dhanteras sentiment, but sales volumes likely to remain flat: Jewellers
The decline in gold prices is expected to boost demand this Dhanteras, All India Gem and Jewellery Domestic Council (GJC) Chairman Rajesh Rokde told.
Trump's loss in US midterms hands Indian gold buyers new setup before Dhanteras
Gold prices surged over 2% on Wednesday, with a weaker US dollar and lower Treasury yields supporting the rally after Democrats made gains in the US midterm elections. In India, 24-karat gold rose 2.26% to ₹14,280 per gram.
SBI share price target: Jefferies, Motilal, others see up to 34% upside in state lender. Buy, sell or hold?
State Bank of India has seen a remarkable 15% increase in profits year-on-year, totaling Rs 23,038 crore for the second quarter. With a loan book surpassing Rs 52 lakh crore and a 10% rise in interest income, brokerages have set optimistic Buy ratings on SBI shares, suggesting target prices between Rs 1,225 and Rs 1,350. Despite this positive outlook, management highlighted possible obstacles from macroeconomic shifts and potential treasury losses.
FLY91 plans to expand fleet to 60 aircraft in five years, targets 350 weekly flights: CEO Manoj Chacko
Regional airline FLY91 plans to expand its fleet from six to around 60 aircraft over five years, backed by an order for 40 planes scheduled for delivery between 2027 and 2032. The airline also aims to operate nearly 350 weekly flights this winter, prioritising domestic expansion before exploring international routes.
Krafton steps up India bets to build next global gaming franchise beyond PUBG
Krafton Inc. is actively investing in India's gaming industry to fuel its growth and develop new titles. The company aims to expand beyond its successful PUBG franchise, which has achieved immense popularity in India. With plans to acquire another studio, Krafton seeks to leverage India's talent pool and expertise in software development. The Bangalore team is expected to grow significantly, aided by advancements in artificial intelligence.
SaaS firm Capillary’s AI platform drives new customer wins, revenue grows 51%
Capillary’s aiRA (AI-powered Research Assistant) is an AI agent for enterprise brands that helps connect customer data across platforms and identifies opportunities to acquire, convert, retain and reactivate customers. It also executes campaigns through existing marketing tools, with human approval. It works with data from platforms such as Salesforce, Snowflake, Databricks, Google Ads and Meta, according to the investor presentation.
Aditya Birla Lifestyle bets on festive demand
The company, which owns brands such as Louis Philippe, Van Heusen, Allen Solly and Peter England, reported flat like-for-like sales growth in September, against 5.3% for the second quarter of FY27. The slowdown comes just as the full impact of price increases begins to flow through in the December quarter, making consumer acceptance and discounting critical to sustaining growth.
Manufacturing activity eases in Oct as new order growth drops
Manufacturing activity in India experienced a slowdown in October, decreasing from the previous month's growth. Despite this, the sector remained above its long-run average due to stronger international demand. A survey indicated that nearly 18% of manufacturers anticipated increased output over the next year, supported by fresh client inquiries.
India's urban shoppers spend 13% more on FMCG but shop less often
India's urban shoppers are increasing grocery spending while making less frequent trips, reflecting higher prices' impact. Online sales are rising sharply, driven by new households entering the market and increased shopping occasions. In contrast, traditional kirana stores still hold a significant market share despite a slight decline. Personal care products are the fastest-growing category with notable value sales increases.
Refurbished iPhones gain popularity in India as new smartphone prices rise; iPhone 13, 14 and 15 lead demand
India's refurbished smartphone sector is booming as shoppers lean towards affordable options. With skyrocketing prices on new models, older favorites like the iPhone are gaining traction. Retailers such as ControlZ and Cashify are witnessing a sales surge, notably among premium devices. This upward trend is observable in both urban hubs and smaller towns, with trade-in values on the rise.
India factory growth slows in October, export orders jump, PMI shows
India's manufacturing growth slowed in October, with the HSBC Manufacturing PMI falling to 54.7 from 55.1 in September, as domestic demand and hiring weakened. However, export orders rose at their fastest pace in six months, providing some support to factory activity.
Mass brands give liquor companies a hangover
"It is difficult to pinpoint the reasons for the slowdown, even in states such as Uttar Pradesh which had recorded strong growth earlier," said Amar Sinha, managing director of Allied Blenders and Distillers (ABD), maker of Officer's Choice whisky. There are "no clear factors explaining the weakness," he said.
Mondelez International upbeat on India despite cost pressures
The maker of Cadbury chocolates and Oreo biscuits added about 130,000 outlets in India during the third quarter ended September, as it pushes deeper into the country's fragmented retail market. It sees considerable headroom for further distribution expansion, alongside opportunities to increase the number of products stocked by existing retailers.
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