First Pass

55 stories from 2 sources

Earnings momentum drives a selective market rebound

Day’s Recap

Supporting Articles

8:30 PMEconomic Times

D-St set for a negative opening as GIFT Nifty signals weak start

Summary

GIFT Nifty points to a weaker Indian market opening after a volatile expiry session, as investors monitor rupee weakness, foreign outflows and falling crude prices. Attention is shifting to the Reserve Bank of India's policy decision, with several stocks under a futures and options trading ban.

The immediate market bias is being set by currency weakness and external flows rather than

Unlock the full First Pass Analysis to get a better understanding of why this story matters

Why it matters

Markets face a narrow path between external pressure on the rupee and domestic support from lower crude prices and RBI policy.

Link to Story
8:14 PMEconomic Times

Bank stocks lift Indian markets as crude prices ease, RBI decision eyed

Summary

Indian equities rose as bank stocks gained and crude prices declined, with investors awaiting the RBI's monetary policy decision. Strong quarterly results from Axis Bank and Kotak Mahindra Bank helped improve sentiment.

Banks are driving the market because solid earnings are offsetting concerns about rates and growth.

Unlock the full First Pass Analysis to get a better understanding of why this story matters

Why it matters

The rally depends on whether bank earnings can remain strong if policy stays restrictive and global financial conditions tighten.

Link to Story
8:11 PMEconomic Times

Jefferies favours Indian largecap stocks amid rising bond yields

Summary

Jefferies has increased its preference for Indian large-cap stocks, citing more attractive valuations relative to midcaps and a narrowing earnings-growth gap. It added Kotak Mahindra Bank and raised Reliance Industries in its model portfolio while reducing exposure to rate-sensitive sectors as global bond yields rise.

Higher bond yields make expensive growth stocks more vulnerable and improve the relative appeal of

Unlock the full First Pass Analysis to get a better understanding of why this story matters

Why it matters

Largecaps may regain leadership if rising yields compress valuations across India's midcap and smallcap segments.

Link to Story
11:40 AMEconomic Times

Ahead of Market: 10 things that will decide stock market action on Wednesday

Summary

Indian equities extended their rebound for a second session, with the Sensex rising 685 points and the Nifty gaining more than 220 points. Lower crude prices, strong second-quarter business updates and supportive global cues lifted sentiment and added nearly Rs 5 lakh crore to BSE market capitalisation.

The immediate shift is from risk aversion toward a broader relief rally, supported by cheaper

Unlock the full First Pass Analysis to get a better understanding of why this story matters

Why it matters

The rally is broadening, but its durability depends on whether improving fundamentals can replace short-term sentiment as the main market catalyst.

Link to Story
6:51 AMEconomic Times

CAS sent Nifty soaring 300 points in a minute to breach 23,000 on expiry day

Summary

The Nifty jumped more than 300 points in less than a minute during Tuesday's closing auction, briefly crossing 23,000 before giving back part of the gain. The move has renewed concerns about expiry-day volatility as Sebi considers changes to derivatives settlement rules.

The extreme closing move strengthens the case for tighter controls around expiry-day trading and settlement

Unlock the full First Pass Analysis to get a better understanding of why this story matters

Why it matters

A single-minute dislocation could accelerate regulatory changes that reshape India's fast-growing options market.

Link to Story
2:56 PMEconomic Times

Sebi accuses Jane Street of dilatory tactics at SAT, says 'investigator is being investigated'

Summary

Sebi told the Securities Appellate Tribunal that Jane Street is delaying proceedings in the case concerning alleged index manipulation and trading violations. The regulator says it has provided more than 10 GB of material but is resisting requests for additional records, while Jane Street seeks broader access to the investigation files.

The dispute is increasingly becoming a battle over procedural access as much as the underlying

Unlock the full First Pass Analysis to get a better understanding of why this story matters

Why it matters

The case could set an important precedent for transparency, data disclosure and enforcement powers in India's derivatives markets.

Link to Story
7:16 AMEconomic Times

Sebi says Jane Street’s appeal for more details a delaying ploy

Summary

Sebi has described Jane Street's request for additional documents as a delaying tactic as the trading firm contests allegations of market manipulation involving Nifty Bank derivatives. The dispute will continue at a hearing on Wednesday.

The regulator's response signals that Sebi wants to move the case forward without expanding the

Unlock the full First Pass Analysis to get a better understanding of why this story matters

Why it matters

The case could set a precedent for how aggressively Sebi polices complex trading strategies used by international firms.

Link to Story
9:13 PMEconomic Times

Trent surges 13% to 2-year high after strong Q2 update

Summary

Trent reported 23% year-on-year revenue growth to ₹5,788 crore in the second quarter, while opening its 1,000th Zudio store. The update prompted brokerages to raise forecasts and improve their ratings on the Tata Group retailer.

The results reinforce Trent's ability to grow rapidly while expanding Zudio's store network and productivity.

Unlock the full First Pass Analysis to get a better understanding of why this story matters

Why it matters

Trent is strengthening its position as one of India's fastest-growing organised retailers, but its valuation now depends on sustaining that pace.

Link to Story
4:56 AMEconomic Times

LIC mints Rs 531 crore in one day as Trent shares rally 13%; insurance behemoth’s stake value nears Rs 4,700 cr

Summary

Trent shares rose 13% after the company reported a strong second-quarter business update, adding more than Rs 17,540 crore to its market value. The rally increased LIC's stake value in the Zudio parent by over Rs 531 crore, as Trent crossed 1,000 Zudio stores during the quarter.

Trent's store expansion and operating momentum have turned Zudio into a major driver of shareholder

Unlock the full First Pass Analysis to get a better understanding of why this story matters

Why it matters

Zudio's scale-up is becoming a major test of whether Trent can convert rapid retail expansion into durable earnings growth.

Link to Story
7:26 AMEconomic Times

Reliance Industries shares gain 3% as JIO IPO inches closer; Jefferies increases weight in conglomerate

Summary

Reliance Industries shares rose 3% as Jio Platforms prepares for an IPO scheduled for October 21, with an implied valuation of about Rs 11 lakh crore. Jefferies increased its weighting on Reliance, citing attractive valuations and improving business conditions.

The Jio IPO is becoming a near-term valuation catalyst for Reliance, giving investors a clearer

Unlock the full First Pass Analysis to get a better understanding of why this story matters

Why it matters

The IPO could reset how markets value Reliance's digital assets and influence the parent company's share price.

Link to Story
2:59 PMEconomic Times

S&P projects 12-14% credit growth this fiscal, warns weak monsoon may hit rural lending

Summary

S&P Global expects India's financial-sector credit growth to reach 12% to 14% this fiscal year, despite risks to rural lending from a weak monsoon. It projects 7% GDP growth in FY27, supported by public spending and a recovery in private investment, while inflation remains a constraint.

The forecast rests on continued economic activity and stronger private investment, but rural credit could

Unlock the full First Pass Analysis to get a better understanding of why this story matters

Why it matters

Credit can keep supporting growth, but a rural slowdown would expose lenders with concentrated exposure to agriculture and smaller borrowers.

Link to Story
12:23 PMEconomic Times

NBFC credit growth rises to 15.8% in August as gold, consumer durable loans surge

Summary

NBFC credit growth reached 15.8% in August 2026, led by strong expansion in gold loans and consumer durable financing. Housing remained a major retail lending segment, while credit to the services sector declined.

The acceleration is concentrated in collateral-backed and consumption-linked lending rather than spread evenly across the

Unlock the full First Pass Analysis to get a better understanding of why this story matters

Why it matters

NBFC growth is strengthening, but its concentration in select retail products raises questions about the durability and quality of demand.

Link to Story
9:08 AMEconomic Times

Utkarsh Small Finance Bank Q2 disbursements jump 55% YoY to Rs 3,525 crore; loan portfolio rises over 7%

Summary

Utkarsh Small Finance Bank’s Q2 FY27 disbursements rose 54.9% year on year to Rs 3,525 crore, driven by non-JLG lending. Its loan portfolio increased 7.5% to Rs 20,063 crore, while deposits grew 6.6% to Rs 23,869 crore.

The sharp rise in disbursements marks a material acceleration in loan origination, led by diversification

Unlock the full First Pass Analysis to get a better understanding of why this story matters

Why it matters

Utkarsh is growing faster, but the quality and funding cost of that growth will determine whether it improves shareholder returns.

Link to Story
11:27 PMEconomic Times

Kalyan Jewellers shares gain 2% as Q2 revenue grows 26% YoY, firm records 20% same-store-sales growth

Summary

Kalyan Jewellers reported more than 26% year-on-year consolidated revenue growth in Q2 FY27, driven by strong Indian operations and roughly 20% same-store sales growth. International revenue rose 18%, Candere grew 64%, and the company expanded its showroom network while eliminating non-GML debt.

The key shift is that growth came from existing stores as well as network expansion,

Unlock the full First Pass Analysis to get a better understanding of why this story matters

Why it matters

Kalyan is showing improving demand, cleaner finances and multiple growth engines as India enters its strongest jewellery-buying season.

Link to Story
11:35 PMEconomic Times

Titan Company shares fall 4% after Q2 business update. What is Nomura saying?

Summary

Titan reported 25% year-on-year growth across its consumer businesses in Q2 FY27, led by jewellery, watches and EyeCare. Its shares nevertheless fell 4%, while Nomura maintained a Buy rating because it sees strong growth visibility despite high jewellery bases and elevated gold prices.

The selloff shows that investors were focused on expectations and valuation rather than absolute growth.

Unlock the full First Pass Analysis to get a better understanding of why this story matters

Why it matters

Titan's reaction shows how even strong operating growth can disappoint when expectations and commodity-linked risks are already elevated.

Link to Story
9:52 AMEconomic Times

Titan Q2FY27 update: Consumer businesses grow 25% YoY, jewellery up 21%

Summary

Titan’s consumer businesses grew 25% year on year in Q2 FY27, with jewellery, watches and EyeCare leading growth. Domestic operations rose 22%, international businesses surged 97%, and the company added 78 net stores to reach 3,758.

Titan is combining broad-based domestic growth with a faster international expansion, while jewellery remains a

Unlock the full First Pass Analysis to get a better understanding of why this story matters

Why it matters

The update suggests Titan is gaining scale across categories and geographies rather than relying solely on jewellery demand.

Link to Story

Other Developments

A curated list of other prominent stories from this day.

11:56 PMEconomic Times

Vans Electroengineerings shares debut at 90% premium over IPO price on BSE SME; Black Opal Consultants sees flat debut. Check details

Summary

Vans Electroengineerings, Papadmalji Agro Foods and Black Opal Consultants listed on Wednesday after collectively raising about Rs 110 crore. Vans surged 90% above its IPO price, while the other two stocks made modest gains.

The sharp premium for Vans signals strong speculative demand for a small issue, but it

Unlock the full First Pass Analysis to get a better understanding of why this story matters

Why it matters

The listings underline both the strong demand and the heightened volatility in India's SME IPO market.

Link to Story
8:52 PMEconomic Times

Nifty 50 companies likely to log strong double-digit growth in Q2

Summary

Nifty 50 companies are expected to report almost 20% year-on-year growth in revenue and net profit in the second quarter. Automobiles, banks and oil companies are likely to lead, although higher input costs and inflation may narrow operating margins.

The earnings cycle appears broad enough to support market profits beyond a few technology or

Unlock the full First Pass Analysis to get a better understanding of why this story matters

Why it matters

A strong aggregate earnings print could support equities, but investors will focus on margins to judge whether growth is durable.

Link to Story
8:17 PMEconomic Times

September demat account additions fall to 2.89 million amid market selloff

Summary

New demat accounts fell 11.5% month on month to 2.89 million in September as the market recorded its steepest monthly loss in five months. The quarter still added a record 9.04 million accounts, supported by IPO activity, while the investor base reached 135 million unique participants.

The monthly decline suggests weaker retail risk appetite during the selloff, but it does not

Unlock the full First Pass Analysis to get a better understanding of why this story matters

Why it matters

Retail participation is cooling at the margin, but India's expanded investor base continues to provide an important source of market liquidity.

Link to Story
2:51 PMEconomic Times

IRDAI overhaul may force insurance brokers to rethink deal valuations

Summary

Proposed IRDAI changes could raise compliance costs and impose commission limits across the insurance broking industry. Smaller firms may seek consolidation, while Alliance Insurance Brokers considers a stake sale and InsuranceDekho and RenewBuy explore initial public offerings.

Higher compliance costs and tighter commission economics could reduce the value of smaller brokers and

Unlock the full First Pass Analysis to get a better understanding of why this story matters

Why it matters

Regulatory reform could reshape broker valuations, ownership structures, and the path to consolidation.

Link to Story
1:00 PMVariety

Indian Streamer JioHotstar Enters Middle East and North Africa Through Starzplay Partnership

Summary

JioHotstar is expanding into the Middle East and North Africa through a partnership with Abu Dhabi-based Starzplay. The service will operate as a dedicated hub within the Starzplay app, following launches in the U.K., Canada and Singapore.

The partnership gives JioHotstar distribution in a region with a large South Asian diaspora without

Unlock the full First Pass Analysis to get a better understanding of why this story matters

Why it matters

JioHotstar is turning its overseas expansion into a distribution-led strategy that could broaden reach while limiting execution risk.

Link to Story
11:24 AMEconomic Times

Honasa Consumer shares jump 7% as Q2 operating update points to strong growth

Summary

Honasa Consumer shares rose 7% after the company projected strong second-quarter fiscal 2027 performance. It expects net sales growth in the low thirties, improving margins, and continued momentum across its brands and offline channels.

The market is rewarding evidence that Honasa can pair rapid growth with better margins and

Unlock the full First Pass Analysis to get a better understanding of why this story matters

Why it matters

Honasa’s update signals that investors are demanding both scale and improving economics from consumer-brand companies.

Link to Story
8:59 AMEconomic Times

India's data centre sector attracted USD 173 bn since 2021, capacity seen 2 GW by year-end: CBRE

Summary

India’s data centre sector has attracted USD 173 billion in investment since 2021. About 130 MW of capacity was added in the first half of 2026, with more than 200 MW expected to come online in the second half, taking total capacity toward 2 GW by year-end.

The investment pipeline is translating into rapid capacity expansion as cloud services, digital platforms and

Unlock the full First Pass Analysis to get a better understanding of why this story matters

Why it matters

Data centres are becoming a major infrastructure investment theme, with implications for power demand, real estate and digital competitiveness.

Link to Story
8:56 AMEconomic Times

India emerges as major investment destination with young, talented workforce: Singapore biz leaders

Summary

Singapore business leaders identified India’s growth, young workforce and talent base as major investment attractions at the Singapore-India Network for Growth Forum 2026. Haryana and Chhattisgarh presented state-level opportunities, policies and incentives aimed at deepening collaboration.

The focus is shifting from broad India enthusiasm to competition among states for Singaporean capital

Unlock the full First Pass Analysis to get a better understanding of why this story matters

Why it matters

Foreign investment will increasingly flow toward states that can offer execution certainty, not just incentives or market size.

Link to Story
7:58 AMEconomic Times

Market wrap: Trent, BSE, Coal India, Tech Mahindra top gainers and losers on Nifty and Sensex on Tuesday

Summary

Franklin India Small Cap Fund’s assets under management crossed Rs 14,000 crore, while a Rs 10,000 monthly SIP grew to nearly Rs 1.94 crore over 20 years. The fund has outperformed its benchmark over the past 15 years.

The figures reinforce the power of long holding periods and regular investing, rather than short-term

Unlock the full First Pass Analysis to get a better understanding of why this story matters

Why it matters

The fund’s scale and long-term returns show how sustained SIP flows can compound into substantial wealth, but performance risk remains material.

Link to Story
6:19 AMEconomic Times

Swara Baby gets Sebi nod for Rs 1,000 crore IPO as hygiene products maker eyes expansion

Summary

Sebi has approved Swara Baby Products' Rs 1,000 crore IPO, which will combine a fresh issue with an offer for sale by promoters. The company plans to use the proceeds to expand manufacturing capacity, repay borrowings and fund other corporate purposes.

The approval gives Swara Baby access to public capital as demand for disposable hygiene products

Unlock the full First Pass Analysis to get a better understanding of why this story matters

Why it matters

The IPO will test public-market appetite for smaller hygiene manufacturers seeking both growth capital and promoter liquidity.

Link to Story
4:53 AMEconomic Times

Dabur shares rise 4% as firm sees double-digit Q2 growth; FMCG set for strong performance

Summary

Dabur shares rose 4% after the company projected double-digit consolidated revenue and profit growth for the second quarter of FY27. India FMCG growth is expected to accelerate, led by double-digit expansion in Home and Personal Care and mid-teens growth in Food and Beverages, while international operations remain strong.

Dabur's outlook points to a broad-based recovery rather than growth confined to one category, with

Unlock the full First Pass Analysis to get a better understanding of why this story matters

Why it matters

Dabur's guidance offers an early read on whether India's FMCG recovery is broadening across categories and markets.

Link to Story
4:30 AMEconomic Times

Motilal Oswal initiates coverage on Molbio Diagnostics stock with Buy, sees 21% upside. Here's why

Summary

Motilal Oswal began coverage of Molbio Diagnostics with a Buy rating and a ₹1,800 price target, implying 21% upside. The brokerage expects decentralised molecular diagnostics to drive growth through Molbio's Truenat platform, which has more than 12,500 devices across over 90 countries and 43 assays for 30 diseases.

The investment case rests on scaling an installed diagnostics platform rather than on a single

Unlock the full First Pass Analysis to get a better understanding of why this story matters

Why it matters

Molbio offers investors exposure to the expansion of rapid, decentralised testing, but growth in device placements must translate into repeat diagnostic demand.

Link to Story
4:24 AMEconomic Times

Indian banks face a Q2 paradox: FCNR boosts loan growth but margins shrink

Summary

Indian banks are entering the second-quarter earnings season with stronger loan growth, supported by inflows into FCNR(B) deposits, but net interest margins are expected to remain under pressure. Analysts still anticipate earnings growth because credit costs and asset quality should stay favourable, with large private banks preferred.

The key trade-off is volume growth without equivalent improvement in profitability per loan. FCNR funding

Unlock the full First Pass Analysis to get a better understanding of why this story matters

Why it matters

Bank earnings can grow even as margins deteriorate, making loan quality and cost control more important than headline credit growth.

Link to Story
4:22 AMEconomic Times

MFs kept buying these 10 microcaps for 2 straight quarters; stocks surge up to 70% in 3 months

Summary

Mutual funds increased their holdings in 64 Nifty Microcap 250 companies for two consecutive quarters. Ten of those stocks rose between 25% and 68% over three months, led by Electronics Mart India, Sky Gold, Bluestone Jewellery, Sudarshan Chemical and Timex Group.

Sustained institutional buying has strengthened momentum in a segment where liquidity is limited and price

Unlock the full First Pass Analysis to get a better understanding of why this story matters

Why it matters

Institutional interest can accelerate microcap rallies, but it also increases the cost of exiting when sentiment reverses.

Link to Story

Make it yours

Build Your First Pass.

Pick your topics, set your cadence, and receive your personalized First Pass in your inbox. It’s that simple!