Earnings dominated headlines on Thursday, with Axis Bank and Wipro releasing their results for the quarter ended June. Also among the headlines, Bharti Airtel has partnered with AI-powered search engine Perplexity to offer a free 12-month subscription of Perplexity Pro to its entire base of over 36 crore customers across mobile, broadband, and DTH services.
Here’s a quick roundup of today’s key headlines:
Axis Bank Q1: Profit Misses Estimate
A rise in provisions and bad loans has weighed on Axis Bank's standalone net profit for the quarter ended June, according to an exchange filing on Thursday.
The private lender's bottom-line fell 4% year-on-year to Rs 5,806.14 crore during the quarter under review. Its lower than the expectations of Rs 6,375.77 crore of the analysts polled by Bloomberg. The bank's bottomline was Rs 7,117.5 crore a quarter ago.
Wipro Q1: Profit Meets Estimates
Wipro posted its first-quarter results on Thursday. The company recorded a decrease in net profit in the first quarter of fiscal 2026, but met analysts' estimates.
The Indian IT major saw its bottom line fall 7% over the previous three months to Rs 3,336 crore in the quarter ended June, according to an exchange filing. That compares with the Rs 3,588-crore consensus estimate of analysts tracked by Bloomberg.
AI-171 Crash: Refrain From Premature Narratives
Days after the Aviation Accident Investigation Bureau's preliminary report into the AI-171 plane crash triggered speculations, AAIB Director General GVG Yugandhar issued an appeal for restraint on Thursday. The AAIB chief said that it is too early to reach any conclusion as the investigation is still ongoing. He further added that the final investigation report will be released after the completion of the probe.
JPMorgan Is Now Worth More Than Three Largest Rivals Combined
JPMorgan Chase & Co. keeps putting more distance between itself and key rivals. The first half saw the bank’s market value surpass that of its three largest competitors — BofA, Citigroup and Wells Fargo — combined. It racked up $30 billion of profit in that period, more than double its closest rival, and widened its lead over Goldman Sachs Group Inc. and Morgan Stanley in investment-banking revenue.
Anand Mahindra At Tech Mahindra AGM
During the annual general meeting of Tech Mahindra Ltd. held on Thursday, Anand Mahindra highlighted that effective application of AI and trust are the major factors contributing to the company's progress. Mahindra also emphasised on the steady progress the company has made towards its plans for fiscal year 2027. The IT major's promise of 'scale at speed' is "resonating strongly with clients worldwide and is proving to be a solid foundation to build on", he added.
Reliance Industries Q1 Preview
The company's main petrochemicals and refining business is expected to be under pressure. Telecom is likely to report its highest sequential growth, helping billionaire Mukesh Ambani's conglomerate sail through the first quarter. The retail segment may slide on a sequential basis and remain steady on a yearly basis.
Want Free Perplexity Pro? Airtel Is Your Answer
Bharti Airtel has partnered with AI-powered search engine Perplexity to offer a free 12-month subscription of Perplexity Pro to its entire base of over 36 crore customers across mobile, broadband, and DTH services.
This marks the first time an Indian telecom operator is offering a generative AI tool’s paid version at scale.
Exposing Illegal Dabba Trading
A Delhi-based unregistered stock advisory firm operating from Shahdara published a full front-page advertisement in a Hindi daily on July 13, luring investors with promises of sky-high margins, zero brokerage, instant deposits and withdrawals, and no-document trading accounts—all without SEBI registration.
The firm, operating under the brand name Trade Dost, claimed to offer intraday margins up to 500 times and carry-forward margins of 60 times. These features—clearly outside the regulatory framework—caught Profit’s attention.
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