Stock Market Highlights: Nifty Logs Worst Weekly Losing Streak Since 2008; Trent, Airtel Among Top Losers

• Trent & Bharti Airtel are the top losers in Nifty this week, both down over 5.5%
• Nifty down almost 1% down this week, ends in red for the 7th week in a row
• Nifty touched the lowest level this week since Apr 2026
• Broader markets reflect the fall as well
• Nifty Midcap 150 falls over 2% this week
• PB Fintech is the top loser in Nifty Midcap 150 this week, down over 33%
• Nifty Smallcap 250 falls over 0.5% this week
• Nifty Smallcap 250 ends in red for the 4th week in a row
• Home First Fin the top loser in Nifty Smallcap 250 this week, down over 10%
• Nifty IT is the top losing sector this week, ends in red for the 4th week in a row, down almost 2.5%
• OFSS is the top loser in Nifty IT this week, down almost 10%
• Nifty Realty is the top gaining sector this week, snaps 4 week losing streak, up over 2.7%
• DLF is the top gainer in Nifty Realty this week, up over 5.5%
• Nifty Pharma ends in green for the 3rd week in a row
• Nifty FMCG, Metal ends in green for the 2nd week in a row
• Nifty PSU Bank ends in red for the 7th week in a row
• Nifty Oil & Gas ends in red for the 2nd week in a row
• Nifty Bank ends in red for the 5th week in a row
• Nifty Fin Serv ends in red for the 4th week in a row

Nifty ends in red for the seventh week in a row, marking biggest weekly losing streak for Nifty since 2008.

Gold prices came under pressure and is down more than 2% for the week, weighed down by a stronger US dollar, higher Treasury yields and expectations of tighter US monetary policy.

According to N S Ramaswamy, Head of Commodity & CRM at Ventura, gold prices may remain range-bound to mildly bearish next week if the dollar and bond yields stay firm. A fall in yields or a weaker dollar could provide support. 

Key Levels To Watch:

COMEX: Support $4,200–$4,250 | Resistance $4,360–$4,450
MCX: Support Rs 1,49,000– Rs 1,50,000 | Resistance Rs 1,53,000– Rs 1,54,000
 

The zone of 22,920 – 22,940 will act as a crucial support for the Nifty 50 index while the resistance lies in the zone of 23,230 – 23,250. On the downside, if the index slips below the level of 22,920 then the next support is placed in the zone of 22,750 – 22,770, said Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities.

In an event of a surge above 23,250, he believes the index can experience an extension of the rally towards 23,400.

On the options front, meaningful call writing witnessed across 23,100 and 23,200 strikes. On the put side, 23,000 has a substantial open interest, followed by 22,900 strike.

For Sensex, support is at 73,400 while resistance is at 74,100, he added.
 

ESDS Software Solution share price was locked in at 5% lower circuit on Friday, after the company reported its Q1 results. The recently listed IT services stock was down 5% at Rs 1,757.65 apiece on the BSE.

The cloud and data-centre services company reported a net profit growth of 14% year-on-year (YoY) to Rs 29.3 crore in the first quarter of FY27. However, the company’s net profit declined around 57% from Rs 67.7 crore in the previous quarter.

Revenue in Q1FY27 grew 7.3% YoY to Rs 133.7 crore but dropped 20.2% sequentially from Rs 167.5 crore in the March quarter.

In an exclusive interview with NDTV Profit, Piyush Somani, MD & CEO, Founder, ESDS Software Solution noted that Q1 is the weakest quarter in the whole fiscal year, and Q4 is always a strong quarter for the company.

Hence, he said that the company’s business is not a quarterly business and one should look at a YoY comparison instead of QoQ. 

He expects the earnings to improve once AI clusters deliver and expects higher growth from international customers.

The company’s order pipeline currently remains very strong, and it plans to install over 50,000 GPUs in the next one year.

However, Somani sees some delay in future contracts due to the shortage of GPUs, while there were no delays in the current orders. He expects the company to show better performance from Q3 onwards.

• AceVector said its net merchandise value (NMV) has grown about 73% over the last two years, while revenue has doubled and profit after tax has risen 2.5 times during the same period.

• The company operates in the Rs 300-Rs 800 price band in the value fashion segment and said 80% of its revenue comes from existing customers.

• AceVector said marketing spend is primarily aimed at acquiring new customers, while marketing costs have been declining gradually. The company expects contribution margins to improve as volumes increase.

• The company said Snapdeal meets all major costs and highlighted its asset-light business model with negative working capital.

• Singularity and 360 One are among the company's key anchor investors.

• Life Insurance Corporation of India (LIC) has approved the voluntary retirement of Managing Director Dinesh Pant.
• Dinesh Pant has been relieved from the services of the corporation.

• The Nifty 50 recovered more than 110 points from its intraday low and outperformed the broader market.

• Axis Bank, Asian Paints and Mahindra & Mahindra were among the top gainers on the Nifty 50.

• Axis Bank led the gains, rising around 3% during the session.

• Market breadth remained positive, with the Nifty advance-decline ratio at 30:20.

• IOL Chemicals & Pharmaceuticals has received a Certificate of Suitability (CEP) from the European Directorate for the Quality of Medicines & HealthCare (EDQM) for its API product Fenofibrate - Process II.
• Fenofibrate is an active pharmaceutical ingredient (API) used in pharmaceutical formulations.
• The company disclosed the regulatory approval in an exchange filing.

• LG Electronics India has received a tax demand of Rs 150 crore from the Directorate of Revenue Intelligence (DRI).
• The company disclosed the tax demand in an exchange filing.
• The development pertains to a demand raised by the Revenue Intelligence Department.

• Brent crude declined 0.4% to $106.17 per barrel.
• The move comes after crude prices surged earlier in the month amid supply and geopolitical concerns.

• Bajaj Housing Finance has allotted non-convertible debentures (NCDs) worth Rs 808 crore on a private placement basis.

• Tata Motors has launched the Aeris sedan, a model developed exclusively for personal vehicle buyers, Managing Director and CEO Shailesh Chandra said at the launch event in Gurugram.
   
• Chandra said more than 3.4 lakh compact sedans were sold in India last year, with demand coming from Tier-2 cities and key micro markets. He added that 65% of compact sedan demand comes from personal buyers, while 35% comes from fleet customers.
   
• Tata Motors said fleet customers will continue to be served through the Xpress range, while Aeris will remain focused on the personal vehicle segment.
   
• The Aeris is built on Tata Motors' next-generation X Alfa architecture and comes with a 10.25-inch infotainment system, digital instrument cluster, 360-degree camera, integrated dash cam and DVR, ventilated seats and rear AC vents.
   
• Chandra said CNG adoption in India is growing rapidly, with overall CNG penetration at 26% in FY26. The company will offer the Aeris iCNG with twin CNG cylinders and an AMT option.

• JSW One Platforms has filed its draft red herring prospectus (DRHP) for an IPO of up to Rs 3,054 crore.

• The IPO comprises a fresh issue of Rs 1,300 crore and an offer for sale (OFS) of Rs 1,754 crore.

• Promoters JSW Steel and JSW Cement plan to monetise shares worth up to Rs 933 crore, while investor Mitsui will sell shares worth up to Rs 820 crore through the OFS.

• JSW One Platforms will utilise Rs 500 crore from the fresh issue to fund its NBFC subsidiary JSW One Finance, while Rs 350 crore has been earmarked for technology and platform development.

• The company may also undertake a pre-IPO placement of up to Rs 260 crore.

• For FY26, revenue rose 45% to Rs 5,743 crore, while gross merchandise value (GMV) increased to Rs 18,597 crore. The company reported a profit of Rs 14 crore for the quarter ended June 2026.

• eClerx said it is enhancing its capabilities through the use of artificial intelligence (AI) and continues to see strong order execution and delivery momentum.

• The company said it is focusing on cross-selling its capabilities and plans to increase investments in AI. These investments will be funded through internal accruals, with no requirement for external support at present.

• eClerx maintained its FY27 EBITDA margin guidance of 24-28%.

• The company said it is evaluating opportunities in adjacent areas and segments, including consumer and retail banking.

• eClerx said it remains focused on acquisitions and potential M&A opportunities and is confident about new developments related to inorganic growth.

• The Supreme Court has rejected Fortis Healthcare's appeal against a forensic audit ordered by the Delhi High Court, according to court proceedings.

• The audit was directed in arbitration enforcement proceedings initiated by Daiichi Sankyo.

• The underlying arbitral award was against former Fortis promoters Malvinder Mohan Singh and Shivinder Mohan Singh.

• The Supreme Court said the forensic audit will continue as directed by the Delhi High Court.

• Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities, said benchmark indices stabilised on the final trading day of the week following a recovery in global markets, though investors remain cautious amid developments in West Asia and elevated US bond yields.

• Among sectoral indices, Nifty Realty was the top performer, while Nifty Pharma was the weakest.

• Shah said the 22,920-22,940 zone will act as a key support area for the Nifty, while 23,230-23,250 is the immediate resistance zone.

• He said a break below 22,920 could drag the index towards 22,750-22,770, while a move above 23,250 may extend gains towards 23,400.

• On the derivatives front, meaningful call writing was seen at the 23,100 and 23,200 strikes. On the put side, 23,000 holds the highest open interest, followed by the 22,900 strike.

• The Nifty Advance-Decline Ratio stood at 27:23. For the Sensex, Shah identified support at 73,400 and resistance at 74,100.

• Suzuki Motor Corp. said it will continue to strengthen its manufacturing capacity in India.

• The company is targeting annual production capacity of 4 million units per fiscal year from 2030.

• The comments were disclosed through exchange communications.

• India remains a key market in Suzuki's global manufacturing and growth strategy.

• Dabur India said the National Company Law Tribunal (NCLT) has approved the scheme of amalgamation with Sesa Care.
• The company disclosed the approval in exchange filings.
• The approval clears the way for the merger of Sesa Care with Dabur India.

• The government's stake sale in IDBI Bank remains on track, a Finance Ministry official told Bloomberg.

• The official declined to be identified as the discussions are private.

• The update comes amid ongoing efforts to divest the government's holding in the lender.

• IDBI Bank did not immediately respond to Bloomberg's request for comment.

• The development follows recent reports that India is nearing a decision on a revised offer from Fairfax for IDBI Bank, while Blackstone has also been linked to potential interest in the process, according to Bloomberg.

• PL Capital said IRDAI's proposed changes to insurance distribution regulations could weigh on near-term growth for life insurers due to lower commissions on savings and credit life products.

• The brokerage said the changes could be positive for value of new business (VNB) over the long term, while insurers may increasingly focus on retail protection products to drive growth.

• PL Capital said SBI Life is likely to be the least affected among insurers under its coverage, while Max Financial remains its preferred pick due to its proprietary distribution channel.

• The brokerage noted that large NBFCs are the most exposed to commission cuts, with insurance income accounting for roughly 3% to 26% of FY26 profit before tax for some players.

• IRDAI has proposed stricter expense of management (EoM) limits, broader definitions of commissions, product-level commission caps and enhanced disclosure and audit requirements for insurers and distributors.

• FinMin sources told NDTV Profit that the government has not committed to a five-day banking week.
• The five-day banking week remains a demand of bank unions, and no agreement has been reached between the two sides.
• A three-day bank strike is scheduled to begin on Sept. 28.

 

• FinMin sources told NDTV Profit that a Cabinet note on India's new Bilateral Investment Treaty (BIT) framework is ready and will soon be sent for Cabinet approval.
• Tax arbitration is proposed to be kept outside the new BIT framework.
• India is currently in active BIT negotiations with more than four countries, including the UAE, Qatar and Oman.
• The proposed framework aims to provide greater certainty and protection for cross-border investors.

• FinMin sources told NDTV Profit that no major GST rate changes are likely at the next GST Council meeting on Oct. 7.
• The Council is expected to focus on process reforms rather than broad-based rate changes.
• Discussions may include a review of the implementation of GST rate rationalisation.
• The Council is also likely to take stock of one year of the rate rationalisation exercise.

• The Directorate General of Trade Remedies (DGTR) has recommended an anti-dumping duty on imports of borosilicate tableware and kitchen glassware from China.

• The DGTR has proposed a duty of $1,526 per tonne on most covered Chinese imports.

• For a qualifying producer, Anhui Deli, the recommended duty is $703 per tonne.

• The recommendations were made in the DGTR's final findings following its anti-dumping investigation into Chinese borosilicate glassware imports.

• SpiceJet will introduce 22 special flights from Oct. 10 to cater to increased travel demand during the Durga Puja season.

• The airline will connect Kolkata with Delhi, Mumbai, Bengaluru, Bagdogra and Port Blair through the additional services.

• Bagdogra will also be connected with Delhi, Bengaluru and Kolkata under the special flight schedule.

• The airline announced the additional flights in a press release.

• ESDS Chairman and Managing Director Piyush Somani said the company's Q1 performance reflected continued customer demand and execution, while two new platform launches strengthened its ecosystem during the quarter.

• Chief Financial Officer Nadukuru Sita Ramaiah said revenue grew 7.3% year-on-year, though it declined 20.2% quarter-on-quarter, with the design services business impacting sequential performance.

• ESDS said it operates across Infrastructure as a Service (IaaS), Software and Managed Services, and prefers offering bundled services to customers. The company added that the SaaS business carries higher profitability, while the shift towards AI is driving strong growth in the IaaS segment.

• Management said there was a delay in the Sharon AI deal and expects revenue contribution from the project to begin in Q3. The company is also pursuing multiple opportunities similar to the Sharon AI agreement.

• ESDS said it is targeting a PAT margin of 15-20% and will not take on projects below that profitability threshold.

• The company said GPU-related revenue from an Indian customer has already commenced, while global customers offer better pricing and margins. ESDS added that its domestic order book stands at Rs 3,000 crore, with an execution timeline of three years.

• Accel India III has sold a 2.5% stake in Bluestone Jewellery through open market transactions.
• Following the stake sale, Accel India III's holding in the company has reduced to 5.58%.
• The transaction was disclosed in an exchange filing.

• Easy Trip Planners said its electric mobility subsidiary EMTev has launched electric buses in Bhopal.

• The company disclosed the development in an exchange filing.

• EMTev is targeting the production of 5,000 electric buses over the next five years.

• The initiative is aimed at expanding the company's presence in the electric mobility segment.

• edaara Capital said market trends continue to indicate strength in the domestic economy, supported by robust savings and continued growth in systematic investment plans (SIPs).

• The investment firm said only a small portion of household savings is currently flowing into equities, while lower foreign inflows remain a concern.

• Kedaara Capital said it is building a stronger investment team and can take a longer-term approach to investments. The firm added that a majority of its exits have come through the IPO market, which remains an important avenue for value creation.

• The firm advised investors to be selective when investing in IPOs.

• Kedaara Capital said companies are witnessing strong margin growth from AI-led productivity gains. It added that AI adoption and adaptation have become critical, and the technology will have a broad impact across industries.

• Anuj Sharma, Waaree Clean Energy, said the company has the technical capability to manufacture specialty gases and will explore external partnerships in the segment.

• The company expects demand for specialty gases to grow significantly and is engaging with potential customers for supply management.

• Waaree Clean Energy is working on a manufacturing unit in Dahej, while its gas storage facility is expected to become operational from the next quarter.

• The company is also establishing an electrolyser manufacturing unit in Valsad and said it is adequately funded by its parent for the new facility.

• Sharma said the requirement for specialty gases is expected to increase going forward.

• Karan Taurani said franchise-led films have delivered stronger performance in recent periods and that theatres are witnessing a recovery in occupancy rates.

• The analyst expects the recovery in occupancy to support 18-20% growth and maintains a Buy rating on PVR INOX.

• Taurani said Ramayan is likely to deliver record-breaking box office collections.

• He added that the impact of Local Body Tax (LBT) on the sector is expected to be minimal. LBT is levied on ticket prices on a per-show basis, and several southern states already impose such taxes on theatres.

• Prism Johnson said it will invest up to Rs 40 crore in KUS Renewable.
• The proposed investment was disclosed in an exchange filing.

• PN Gadgil Jewellers Chairman and Managing Director Saurabh Vidyadhar said the company expects a pick-up in jewellery demand during the festive season and anticipates a "bumper" third quarter.

• The company said consumers are increasingly shifting from buying gold coins to jewellery, while demand this year is expected to be driven more by value growth than volume growth.

• PN Gadgil plans to add 25 stores in FY27 and expects to have 103 stores by the end of the financial year. The expansion will focus on markets outside Maharashtra, particularly in Tier-2 cities, through a mix of company-owned and franchise-operated formats.

• The company expects value growth of 15-20% in FY27, while volume growth is likely to remain in single digits.

• Vidyadhar said PN Gadgil expects FY27 profit after tax of Rs 700-720 crore, which could rise to around Rs 900 crore by FY29.

• Around 10 lakh shares of IDBI Bank changed hands in a block trade.
• Details of the buyers, sellers and transaction value were not immediately available.
• The block deal was reported during market hours.

• Deepak Fertilisers could remain in focus after reports that Russia plans to impose a 30% tax on windfall profits linked to higher commodity prices in 2026.

• Fertiliser companies are among the sectors expected to be covered under the proposed tax, as the Russian government seeks to capture gains from the recent commodity rally.

• Higher taxation could reduce the earnings of Russian fertiliser producers.

• Any impact on Russian fertiliser supply economics could lend support to global fertiliser prices, which may have implications for industry players worldwide.



 

• Global debt rose by $10 trillion in the first half of the year to exceed $365 trillion, according to the Institute of International Finance (IIF), CNBC reported.

• Economists have warned that rising bond yields and higher borrowing costs are increasing pressure on government finances, particularly in major economies including the US, Japan, France and the UK.

• The IIF said advanced economies paid more than $3.3 trillion in interest on internationally traded government bonds last year, exceeding global spending on AI, defence and clean energy.

• The organisation warned that higher interest expenses, persistent fiscal deficits and rising public spending commitments could create a cycle of increasing debt burdens and fiscal vulnerability.

• The OECD has also called for measures to improve public sector efficiency, strengthen revenues and contain government spending as bond yields remain elevated, CNBC reported.

• A Swedish subsidiary of Kalpataru Projects International has approved an offer for sale (OFS) as part of a proposed listing in Sweden.

• The subsidiary plans to allot up to 1.6 crore shares at 46 Swedish krona per share.

• Kalpataru Power Sweden will sell 1.33 crore shares through the offering.

• The total issue includes a greenshoe option of 2.1 crore shares, with Kalpataru Projects holding a greenshoe option covering 21.4 lakh shares.

• The development was disclosed in an exchange filing.

• Biocon said its Malaysia-based subsidiary has received approval from the UK Medicines and Healthcare products Regulatory Agency (MHRA) for its Semglee fill-finish facility.

• The approval relates to the manufacturing facility for Semglee, a long-acting prescription insulin product.

• The company disclosed the regulatory approval in an exchange filing.

• PB Fintech shares rose nearly 2% in early trade after the stock recorded its biggest intraday decline since listing in the previous session.

• The stock traded at Rs 1,230.70, up 1.95%, after closing at Rs 1,207.20 in the previous session.

• During the session, the stock touched a high of Rs 1,245 and a low of Rs 1,140.

• Despite the rebound, the stock remains well below recent levels after tumbling more than 32% in the previous trading session.



 

• Welspun Corp said its US subsidiary has secured an order worth around Rs 4,000 crore.

• The company said this is the largest order in its history.

• The contract is for the supply of high-frequency induction welded (HFIW) pipes.

• The order is scheduled to be executed during FY28 and FY29.

• Blue Cloud said its US subsidiary has secured a contract worth Rs 147 crore from IBM Cloud.

• The contract is for providing artificial intelligence infrastructure services to IBM Cloud.

• V K Vijayakumar, Chief Investment Strategist at Geojit Investments, said multiple factors weighed on market sentiment, including rising US bond yields, higher crude oil prices and concerns around IRDAI's proposed insurance commission changes.

• He noted that while crude prices have eased from recent highs, elevated Brent crude levels remain a challenge for India if sustained over a prolonged period. He also said higher crude and inflation have increased expectations of another US Federal Reserve rate hike.

• Vijayakumar said rising US bond yields continue to be a headwind for global equity markets and could limit the scope for a strong rally in the near term.

• He added that a meaningful decline in crude oil prices would be supportive for market sentiment and advised long-term investors to use the recent weakness to gradually accumulate fundamentally strong large-cap stocks.

• Dharmendra Jain, Co-Founder of Ionic Wealth, said SEBI's approval of changes to the Portfolio Management Services (PMS) framework is a significant development for portfolio managers and wealth advisers.

• Jain said the revised rules allow PMS providers to offer broader asset allocation strategies, including exposure to IPOs, global investments, unlisted investment-grade debt and derivatives for portfolio risk management.

• He added that the accreditation of high-net-worth investors with Rs 5 crore of market exposure by asset management companies could expand the pool of accredited investors.

• According to Jain, the changes could also enable the fractionalisation of PMS and AIF commitments to Rs 10 lakh-Rs 25 lakh, increasing flexibility for eligible investors.

• Vascon Engineers has received a work order worth Rs 661 crore from Qualcomm India.
• The order is for the development of an office facility in Bengaluru.

• The Nifty 50 closed at 23,063 on Thursday, down 1.64%, marking its steepest decline since July 8. The index fell below 23,100 for the first time since June 11, as insurance stocks came under pressure following IRDAI's proposed commission cap changes.

• US markets ended mixed overnight, with the S&P 500 down 0.02%, the Nasdaq up 0.01%, and the Dow Jones down 0.31%, while US 30-year Treasury yields remained at multi-year highs.

• In Asia, Japan's Nikkei was trading higher by about 1.2%. Brent crude eased to around $99 per barrel after crossing the $100 mark, while GIFT Nifty at 23,115 indicated a flat opening.

• Hemang Gor of Axis Direct said the near-term bias remains cautious, with 23,000 as the immediate support level. A break below that could take the index towards 22,800-22,850.

• On the upside, a move above 23,150 could extend the recovery towards 23,250-23,300, while easing crude prices and bond yields may support sentiment.

• German Green Steel has raised Rs 91.2 crore from anchor investors ahead of its IPO.

• Anchor investors subscribed to 65.6 lakh shares at Rs 139 per share.

• The Defence Research and Development Organisation (DRDO) has signed its first high-value deep-tech project agreement under the Technology Development Fund (TDF) scheme with Zero mK India Pvt. Ltd.

• The project involves the indigenous development of a 20 millikelvin (mK) dilution refrigerator, a specialised cryogenic system used in quantum computing and quantum technology applications.

• The agreement is the first under the Rs 500 crore deep-tech corpus approved by Defence Minister Rajnath Singh for cutting-edge technology projects.

• DRDO said the project aligns with the National Quantum Mission and aims to strengthen India's capabilities in quantum technology, advanced cryogenics and strategic technologies while reducing dependence on imported cryogenic infrastructure.

• The development was reported by PTI.

• The Delhi government has received 5,678 applications for incentives under the Delhi Electric Vehicle Policy 2026 since its implementation on July 1.

• Of the total applications, 1,664 have been processed and Rs 4.8 crore has been disbursed under various incentive categories. Around 1,648 beneficiaries were from the electric two-wheeler segment, accounting for Rs 4.6 crore of the total disbursed amount.

• The remaining 4,014 applications are under process. Data showed that 5,621 of the 5,678 applications received so far were for electric two-wheelers.

• The policy offers incentives of up to Rs 30,000 for electric two-wheelers in the first year, along with scrappage incentives of up to Rs 1 lakh for eligible older cars and Rs 10,000 for eligible older two-wheelers. PTI reported that 41 new EV buyers have received scrappage-linked incentives so far.

• SEBI has broadened the scope for foreign portfolio investors (FPIs) to participate in non-agricultural commodity derivatives, including contracts that are physically settled.

• FPIs can now participate in non-agri commodity index derivatives and non-cash-settled non-agri commodity derivatives, opening access to products linked to gold, silver and base metals. However, FPIs will not be permitted to take physical delivery and must exit positions before the tender period.

• The newly accessible products account for around 60% of current average daily turnover in the commodity derivatives segment, while FPIs currently contribute only 2.5% of average daily turnover, indicating scope for higher participation.

• The move could benefit MCX through a larger investor pool, increased institutional participation, deeper liquidity in bullion and metals contracts, and potential growth in trading volumes.

• The expanded access may also create opportunities for new bullion and metal indices, index futures and options, while supporting transaction revenue growth and operating leverage.

• ESDS reported consolidated Q1 net profit of Rs 29.2 crore, up 14.1% year-on-year from Rs 25.6 crore. Revenue rose 7.3% to Rs 133.7 crore, while EBITDA increased 6.8% to Rs 55.9 crore.

• On a sequential basis, revenue fell 20.2% from Rs 167.5 crore, while EBITDA declined 45.5% from Rs 102.5 crore. Net profit dropped 56.7% from Rs 67.4 crore.

• EBITDA margin contracted to 41.8% from 61.2% in the previous quarter, a decline of nearly 1,940 basis points.

• The company saw a rise in expenses during the quarter, with depreciation increasing 8.2% QoQ and other expenses jumping 46.4% QoQ.

• In its previous interaction with NDTV Profit, Chairman and Managing Director Piyush Somani had said the company targets delivering one AI factory every two to three quarters, expects 14-15% PAT margins from the Sharon AI agreement, and sees its cloud business growing at 50%.

• JSW One Platforms To Raise Up To Rs 3,054 Cr In IPO 
• JSW One IPO To Include Fresh Issue Of Rs 1,300 Cr

• JSW One Platforms, backed by JSW Steel, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO).
• The company disclosed the filing in exchange communications.

• Dr Lal PathLabs will acquire a 70% stake in SN Genelab for a cash consideration of up to Rs 168 crore. The transaction is expected to close by Nov. 30, 2026.

• The deal values SN Genelab, a Gujarat-based genomics and molecular diagnostics company, at approximately 16 times FY26 EV/EBITDA.

• SN Genelab focuses on genomics, molecular pathology, cancer diagnostics and cytogenetics testing.

• Dr Lal PathLabs said the acquisition will strengthen its genomics and specialised diagnostics capabilities, broaden its advanced diagnostics portfolio and enhance its presence in western India, which contributes 14% of the company's revenue.

• SN Genelab reported 24% revenue CAGR and 31% EBITDA CAGR during FY21-FY26.

• Anthropic has entered into a $12 billion agreement with Akamai Technologies for AI computing infrastructure, according to Bloomberg.
• The deal is aimed at supporting Anthropic's growing computing requirements for artificial intelligence models and services.
• The development highlights continued investment in large-scale AI infrastructure as demand for computing capacity increases.

• Niva Bupa said the measures proposed in the draft consultation paper would be a net positive for the insurance industry.

• The insurer said higher business volumes should help offset lower distributor commission rates and noted that monthly retail business from banks doubled in the 12 months following the loss of GST input tax credit benefits.

• Niva Bupa said it remains confident of reducing expenses of management over time and does not expect its retail business to be affected in the short to medium term.

• The company added that there is no upfront premium cut planned and that any savings could be passed on to customers through deferred or lower price hikes.

• PB Fintech said the proposed changes in IRDAI's consultation paper are not expected to have a significant impact on its life insurance business, but could have a higher impact on its general insurance business.

• The company said the draft proposal is more stringent than industry expectations and added that there was no prior consultation with distributors. PB Fintech said it will submit its inputs on the consultation paper.

• PB Fintech said it expects 15-20% growth as cost benefits are passed on and noted that there is a possibility of becoming an insurance manufacturer in the future. The company added that renewal revenues could be significantly affected.

• The company said hiring may slow, but it does not expect mass layoffs. It also plans to recalibrate expenses, including reducing marketing spend.

• Piramal Finance said a reduction in insurance commission income could have an impact of 18-24 basis points on return on assets (RoA).

• The company issued the clarification following IRDAI's consultation paper.

• Piramal Finance said it earned Rs 200 crore in insurance commission income in FY26.

• The company maintained its FY27 profit after tax (PAT) guidance, irrespective of any changes in insurance commission income.

• RR Kabel will acquire UM Cables, a subsidiary of Usha Martin, for Rs 77 crore.
• The acquisition is aimed at enabling RR Kabel's entry into the optical fibre cable business.

• Chinese President Xi Jinping said Chinese and US delegations have reached a new arrangement following bilateral trade talks.

• Xi described the outcome of the discussions as good news for both countries.

• Xi said China and the US, as major powers in artificial intelligence, should cooperate and leverage each other's strengths rather than restrict one another.

• He added that both countries can work together to prevent the misuse of AI.

• The comments were reported by Bloomberg following discussions between the US and Chinese sides.

• US President Donald Trump said he was "delighted" to welcome Chinese President Xi Jinping to the White House and described the relationship between the two countries as being at its strongest.

• Trump said the US and China have "never gotten along better" and expressed confidence in maintaining a prosperous and secure future between the two nations.

• Xi said he had candid discussions with Trump and that the two leaders reached multiple areas of consensus.

• The comments were made during a state dinner and were reported by Bloomberg.

• The Dow Jones Industrial Average fell 161.61 points, or 0.31%, to close at 51,349.98.

• The S&P 500 slipped 1.90 points, or 0.02%, to end at 7,704.13.

• The Nasdaq Composite edged up 3.34 points, or 0.01%, to close at 26,939.37.

• The mixed close came as gains in technology shares helped the Nasdaq stay in positive territory, while the Dow and S&P 500 ended marginally lower.

Stock Market Live: Asian Markets Trade Mixed

• Japan’s Nikkei 225 was up 0.48%
• Broader Topix gained 0.75%
• Australia’s S&P/ASX 200 declined 0.66%
• Markets in China and South Korea remained closed for a holiday.

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