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The jewellery business emerged as the standout performer, delivering around 46% YoY growth. Secondary (consumer) sales rose about 52%, led by strong traction in Tanishq and supported by Mia. Despite a sharp rise in gold prices, the business recorded high single-digit buyer growth during the quarter, recovering from nearly flat trends seen in the previous three quarters of FY26. Higher average ticket sizes further boosted overall revenue.
Category-wise, studded jewellery posted growth in the early thirties, plain gold jewellery expanded in the mid-thirties, while coin sales nearly tripled compared to Q4 FY25. Like-to-like secondary sales across jewellery formats rose 48% YoY.
Titan added 27 jewellery stores in India during the quarter, including 8 Tanishq stores, 14 Mia outlets and 5 CaratLane stores.
The watches division reported about 7% YoY growth, supported by a 16% rise in analog watches, even as the smartwatches segment declined sharply by 53%. Premiumisation trends continued to drive higher ticket sizes. The division added 30 stores during the quarter, including Titan World, Fastrack, Helios and Helios Luxe outlets.
The eyewear business grew about 16% YoY, aided by strong demand for international brands across sunglasses, lenses and frames. The company continued to optimise its retail footprint by renovating 37 stores, closing 32 and adding 12 new outlets.
Among emerging businesses, fragrances grew around 30% YoY, driven by strong volume growth in Fastrack and Skinn. Women’s bags recorded a sharp 47% growth, supported by store expansion and healthy demand across Irth and Fastrack. However, Taneira reported a marginal 1% decline in sales. During the quarter, Irth added six stores while Taneira shut one outlet.
On the international front, Titan’s North America business maintained strong momentum with around 50% YoY growth. Overall international operations, including Damas, surged approximately 156% YoY.
As of March 2026, Titan’s international presence included 149 stores in the GCC region, 12 stores in North America and one store in Singapore. The GCC network comprises 142 jewellery stores across Tanishq, Mia and Damas, along with seven Titan Eye+ stores.
Titan is India's leading lifestyle company. It has established leading positions in the jewellery, watches and eyecare categories. It has also diversified into wearables, indian dress wear and fragrances & fashion accessories.
The company reported 61% increase in consolidated net profit to Rs 1,684 crore on a 40% increase in total income to Rs 24,592 crore in Q3 FY26 over Q3 FY25.
Consumer durables, realty and private bank shares witnessed strong buying interst while oil& gas, pharma and media shares traded lower.
At 13:25 ST, the barometer index, the S&P BSE Sensex, advanced 496.73 points or 0.68% to 73,816.28. The Nifty 50 index rose 158.65 points or 0.70% to 22,871.75.
In the broader market, the BSE 150 MidCap Index advanced 0.81% and the BSE 250 SmallCap Index rose 0.77%.
The market breadth was negative. On the BSE, 3,000 shares rose and 1,204 shares fell. A total of 212 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, added 0.90% to 25.75.
RBI MPC update:
The Reserve Bank of India’s Monetary Policy Committee (MPC) has begun its first meeting for FY 2026–27, scheduled from April 6 to April 8, with the policy announcement due on the final day.
Economists largely expect the central bank to keep the repo rate unchanged at 5.25%, as inflationary pressures remain a concern. Ongoing geopolitical tensions in West Asia are seen as a key risk to price stability, prompting policymakers to adopt a cautious approach despite earlier rate cuts.
Economy:
India’s services sector saw a slight cooling in momentum in March, with the seasonally adjusted HSBC India Services PMI Business Activity Index easing to 57.5 from 58.1 in February. This marks the slowest pace of expansion in 14 months.
Gainers & Losers:
Trent (up 7.05%), Titan Company (up 3.50%), Axis Bank (up 2.93%) and Shriram Finance (up 2.67%) were the major Nifty50 gainers.
Reliance Industries (down 3.49%), JSW Steel (down 1.89%), Oil & Natural Gas Corporation (ONGC) (down 1.43%), Max Healthcare (down 1.18%) and Dr Reddy’s Laboratories (down 0.84%) were the major Nifty50 losers.
Stocks in Spotlight:
HDFC Bank rose 2.36% after the bank’s average deposits jumped 12.8% to Rs 28,51,100 crore crore in Q4 FY26 compared with Rs 25,28,000 crore in Q4 FY25.
Kotak Mahindra Bank rose 0.29%. The bank’s average total deposits rose 14.9% YoY to Rs 5,38,301 crore as of 31 March 2026, compared with Rs 4,68,486 crore as of 31 March 2025. The bank’s average CASA deposits stood at Rs 2,11,898 crore as of 31 March 2026, registering a 12.7% YoY growth and a 1.9% QoQ rise.
IndusInd Bank rose 0.18%. The bank reported a 2.6% decline in deposits to Rs 4,00,178 crore as of 31 March 2026, compared with Rs 4,10,862 crore as of 31 March 2025. Retail deposits and deposits from small business customers stood at Rs 1,91,276 crore as of 31 March 2026, compared with Rs 1,85,180 crore as of 31 March 2025.
Avenue Supermarts (Dmart) jumped 2.87% after the company reported a 18.96% jump in standalone revenue to Rs 17,204.50 crore in Q4 March 2026 compared with Rs 14,462.39 crore posted in corresponding quarter last year.
Axis Bank rallied 3.20% after the bank reported steady growth in key business metrics for the quarter ended 31 March 2026, driven by continued traction in advances and deposits. Total deposits rose to Rs 13,35,800 crore, up 6.0% QoQ and 13.9% YoY. Gross advances stood at Rs 12,44,200 crore as of 31 March 2026, registering a 6.3% quarter-on-quarter (QoQ) rise and an 18.4% year-on-year (YoY) increase, reflecting sustained credit demand.
L&T Finance jumped 4.85% after the company’s retail disbursement climbed 62% to Rs 24,080 crore in Q4 FY26, compared with Rs 14,899 crore recorded in Q4 FY25.
Senco Gold zoomed 12.45% after the company’s standalone revenue jumped 46% YoY, led by wedding season. On annual basis, the company achieved revenue growth of 35% in FY26 comapred with 21% in FY25.
Vedanta added 0.61%. The company’s aluminium production jumped 2% to 613,000 tonnes in Q4 FY26, compared with 604,000 tonnes posted in Q4 FY25, supported by majorly through operational efficiencies.
Bank of Baroda rose 2.70% after the bank reported a 16.23% increase in global advances to Rs 14,30,204 crore as of 31 March 2026, compared with Rs 12,30,461 crore as of 31 March 2025. Global deposits increased 12.00% YoY to Rs 16,48,650 crore as of 31 March 2026, up from Rs 14,72,035 crore in the same period last year.
Nykaa surged 2.70% after it has reported a strong operational performance for the quarter ended 31 March 2026, with consolidated GMV growth in the high twenties and net sales value (NSV) growth in the low thirties.
Aurobindo Pharma rose 0.09%. The company said its board has approved a share buyback of up to Rs 800 crore at a price of Rs 1,475 per equity share through the tender offer route. The company plans to repurchase up to 54,23,728 fully paid-up equity shares, representing about 0.93% of its total paid-up equity capital. As per the latest available shareholding data, promoters and promoter group entities hold a 51.82% stake in the company.
Global Markets:
European market is closed today on account of Easter Monday.
Japan and South Korean stocks rose Monday, while most Asian markets were closed for holidays, as investors parsed the latest developments in the Middle East conflict over the weekend.
President Donald Trump on Sunday issued a fresh round of threats to attack Iran’s power plants and civilian infrastructure starting Tuesday, if Tehran failed to fully reopen the Strait of Hormuz.
The key oil chokepoint between Iran and the Arabian Peninsula handled about one-fifth of the world’s oil supplies before the war between U.S.-Israel and Iran started on Feb. 28.
In an expletive-laden social media post, Trump vowed to bring 'Hell” to Iran after U.S. forces rescued an American airman in Iran last week.
He later posted about a 'Tuesday 8 P.M. Eastern Time” deadline without elaborating. The White House on Sunday told MS NOW that the date is the new deadline for Iran to reach a deal with the U.S.
Trump said he will hold a press conference 'with the Military” at the Oval Office at 1 p.m. on Monday.
Iran has pushed back against Trump’s ultimatum to reopen the Strait of Hormuz, saying that the critical waterway would only reopen fully after damage from the war is compensated. Tehran has continued strikes on economic and infrastructure targets in the neighboring Gulf region, including Kuwait’s oil headquarters.
Eight members of the Organization of the Petroleum Exporting Countries and allies raised their production quotas on Sunday by 206,000 barrels per day for May, though the move appeared largely symbolic as the war has constrained shipments from several members.
On Thursday, the Dow Jones Industrial Average slipped in volatile trading as oil prices surged following President Donald Trump’s remarks that the Iran war would continue for weeks.
The blue-chip Dow declined 61.07 points, or 0.13%, closing at 46,504.67. The S&P 500 advanced 0.11% to end at 6,582.69, and the Nasdaq Composite gained 0.18% to settle at 21,879.18.
Titan Company Ltd gained 2.26% today to trade at Rs 4363.4. The BSE Consumer Durables index is up 1.06% to quote at 59825.39. The index is down 3.25 % over last one month. Among the other constituents of the index, Voltas Ltd increased 0.54% and Asian Paints Ltd added 0.19% on the day. The BSE Consumer Durables index went up 6.18 % over last one year compared to the 10.55% surge in benchmark SENSEX.
Titan Company Ltd has added 3.12% over last one month compared to 3.25% fall in BSE Consumer Durables index and 0.55% rise in the SENSEX. On the BSE, 13319 shares were traded in the counter so far compared with average daily volumes of 32939 shares in the past one month. The stock hit a record high of Rs 4379.95 on 11 Feb 2026. The stock hit a 52-week low of Rs 2947.55 on 07 Apr 2025.
While EBIT improved by 63% to Rs 2,657 crore, EBIT margin expanded by 155 basis points YoY to 10.8% in Q3 FY26.
Profit before tax in Q3 FY26 stood at Rs 2,375 crore, up by 70% from Rs 1,396 crore recorded in Q3 FY25.
The revenue of the Jewellery Business grew 42% YoY to Rs 22,517 crore. Of this, the India business income was Rs 21,458 crore (up 41% YoY) and that of the International jewellery business was Rs 1,058 crore (up 83% YoY).
Titan stated that the India (Domestic) business has recorded one of its highest ever quarterly growth performance (excluding Covid periods) led by a vibrant festive and backed by visible and evocative campaigns for all brands in the portfolio. The robust growth was supported by a powerful exchange program, wedding sales, festive collections and attractive coin offers driving strong growth momentum throughout the quarter, despite elevated gold prices.
The International Business clocked robust double-digit retail growth during the quarter aided by both store expansion and strong like-to-like growths.
Of the 49 new store additions (net) for Q3FY26, 47 new stores (net) were added in India comprising of 24 in Caratlane, 11 in Mia, 10 in Tanishq, 1 in Zoya and 1 in beYon, respectively. Tanishq added two new stores in USA in Boston and Orlando during the quarter.
The Watches business achieved a total income of Rs 1,295 crore for the quarter, growing 14% in Q3 FY26 over Q3FY25. The business witnessed strong traction in the festive season driven by gifting occasions. Premiumization journey saw steady progress across Titan, Fastrack and Sonata brands, all growing in healthy double-digits compared to Q3 FY25.
The EyeCare business recorded 18% YoY rise in total income to Rs 231 crore in Q3 FY26. The business saw healthy demand in core categories supported by high single-digit volume growth and mid-single digit growth in average selling prices (ASP). Growth was led by lenses and sunglasses, both achieving double-digit growths for the quarter.
Total Income for the Emerging Businesses (women's bags, fragrances and Taneira) grew 15% YoY to Rs 135 crore in Q3 FY26. Compared to same period last year, women's bags experienced strong double-digit growth in both volumes and ASP. The fragrances business grew 24%, driven by strong volume growths in Skinn and Fastrack perfumes. Taneira's consumer business grew 7% led by increase in ASP and same-store-sales growth.
The Titan Engineering & Automation (TEAL') Business recorded a total income of Rs 323 crore in Q3 FY26, growing 67% as compared to Q3FY25. Across its automation solutions and manufacturing services businesses, TEAL is expanding its presence to serve marquee Indian as well as global customers.
A global research house has reportedly reiterated its ‘buy’ rating on the stock, assigning a target price of Rs 4,500 per share, implying an upside of 5.46% from its previous close of Rs 4267.05 recorded on the BSE.
The brokerage reportedly noted that Titan delivered strong consolidated revenue and EBITDA growth of 42% and 41% year-on-year respectively, led by solid sales momentum and healthy margins in the jewellery segment.
It reportedly added that while the watches division maintained strong momentum in analogue products, the wearables category continued to face pressure.
The upbeat quarterly performance comes amid strong festive demand and rising gold prices, which has not significantly dampened consumer appetite for branded jewellery, helping Titan maintain growth momentum across its key consumer businesses, the report stated.
Titan is India's leading lifestyle company. It ha established leading positions in the jewellery, watches and eyecare categories. It has also diversified into wearables, indian dress wear and fragrances & fashion accessories.
The scrip shed 0.30% to currently trade at Rs 4254.10 on the BSE.
Amber Enterprises India Ltd rose 2.63% today to trade at Rs 7228.3. The BSE Consumer Durables index is up 0.68% to quote at 59718.63. The index is down 2.89 % over last one month. Among the other constituents of the index, PG Electroplast Ltd increased 1.64% and Titan Company Ltd added 0.73% on the day. The BSE Consumer Durables index went up 3.84 % over last one year compared to the 8.92% surge in benchmark SENSEX.
Amber Enterprises India Ltd has added 14.17% over last one month compared to 2.89% fall in BSE Consumer Durables index and 0.76% rise in the SENSEX. On the BSE, 4427 shares were traded in the counter so far compared with average daily volumes of 11961 shares in the past one month. The stock hit a record high of Rs 8625 on 29 Oct 2025. The stock hit a 52-week low of Rs 5238.45 on 18 Feb 2025.
Titan stated that the India business has recorded one of its highest ever quarterly growth performance (excluding Covid periods) led by a vibrant festive and backed by visible and evocative campaigns for all brands in the portfolio. The robust growth was supported by a powerful exchange program, wedding sales, festive collections and attractive coin offers driving strong growth momentum throughout the quarter, despite elevated gold prices.
Of the 49 new store additions (net) for Q3 FY26, 47 new stores (net) were added in India comprising of 24 in Caratlane, 11 in Mia, 10 in Tanishq, 1 in Zoya and 1 in beYon, respectively. Tanishq added two new stores in USA in Boston and Orlando during the quarter.
The Watches business achieved a total income of Rs 1,295 crore for the quarter, growing 14% in Q3 FY26 over Q3 FY25. The business witnessed strong traction in the festive season driven by gifting occasions. Premiumization journey saw steady progress across Titan, Fastrack and Sonata brands, all growing in healthy double-digits compared to Q3 FY25.
Total Income for the Emerging Businesses (women's bags, fragrances and Taneira) grew 15% YoY to Rs 135 crore in Q3 FY26.
Compared to same period last year, women's bags experienced strong double-digit growth in both volumes and ASP. The fragrances business grew 24%, driven by strong volume growths in Skinn and Fastrack perfumes. Taneira's consumer business grew 7% led by increase in ASP and same-store-sales growth.
Ajoy Chawla, managing director of the company, stated: “We marked a stellar third quarter of 40% growth characterized by a strong performance across our key businesses.
The festive period spurred broad-based consumer interest across our portfolios, underscoring resilience in premium and accessible segments alike.
The Jewellery business drove strong buyer engagements via attractive exchange programs, exquisite new collections and lucrative bundled offers resulting in one of its best ever growth quarters. Our Watches and EyeCare businesses sustained their growth trajectories clocking valuable gains across key brands in their portfolios. We are encouraged by the consistent performance in our Fragrances business and investing to grow our Women's Bags and Taneira businesses.
Towards the quarter-end, we launched beYon, a lab-grown jewellery line to bolster our multi-brand jewellery portfolio and explore new growth avenues.
We are excited to announce the completion of 67% acquisition of Damas Jewellery after quarter-end, whole heartedly welcoming them to our Titan family. The strategic addition enables us to address evolving consumer preferences across new geographic and demographic markets extending well beyond our traditional Indian diaspora.”
The scrip had gained 0.24% to end at Rs 4267.05 on the BSE today.
Titan Company announced that Titan Holdings International FZCO, UAE (Titan Holdings), a wholly owned subsidiary of the Company, has completed the acquisition of the Damas Jewellery business in the GCC countries through its subsidiary Signature Jewellery Holding (Signature Jewellery).
Consequently, Signature Jewellery has now become the holding company for Damas jewellery business with Titan Holdings' stake at 67% and balance 33% held by MC International Limited (a wholly owned subsidiary of Mannai Corporation QPSC, Qatar).
PSU Bank, oil & gas and realty shares declined while IT and consumer durables shares advanced
At 13:25 IST, the barometer index, the S&P BSE Sensex declined 542.62 points or 0.66% to 81,727.16. The Nifty 50 index tumbled 274.20 points or 0.79% to 25,087.30.
The broader market underperformed the frontline indices. The BSE 150 Mid-Cap index declined 1.03% and the BSE 250 Small-Cap index slipped 0.93%.
The market breadth was weak. On the BSE, 1,711 shares rose and 2,215 shares fell. A total of 217 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rallied 5.02% to 14.32.
MCX Gold futures for the 5 February 2026 settlement fell 4.58% to Rs 1,42,800, while MCX Silver futures for the 5 March 2026 settlement declined 8.79% to Rs 2,66,269.
Titan Company (up 3.45%), Wipro (up 3.14%), Max Healthcare Institute (up 2.74%), Tata Consultancy Services (TCS) (up 2.53%) and Sun Pharmaceutical Industries (up 1.22%) were the major Nifty50 gainers.
Hindalco Industries (down 4.70%), Coal India (down 3.99%), State Bank of India (down 3.98%), Bharat Electronics (BEL) (down 3.90%) and Oil & Natural Gas Corporations of India (ONGC) (down 3.62%) were the major Nifty50 losers.
Sun Pharmaceutical Industries rose 1.22% after it has reported 16.03% rise in consolidated net profit to Rs 3,368.81 crore on a 13.49% increase in revenue to Rs 15,520.54 crore in Q3 FY26 over Q3 FY25.
Union Budget 2026
Union Finance Minister Nirmala Sitharaman used the Union Budget 2026 to underline a reform-heavy path built around fiscal consolidation, job creation and sharper global competitiveness. The Centre reiterated its medium-term debt sustainability goal, with the FRBM roadmap indicating a steady decline in the debt-to-GDP ratio and projecting central government debt at around 55.6% in BE 2026 27 versus 56.1% in RE 2025 26, framing the glide towards a sub 50% target by 2030 as a policy anchor rather than a hard statutory number. On the deficit side, the government stuck to its consolidation track, with the fiscal gap seen at 4.4% of GDP in RE FY26 and budgeted to narrow to 4.3% in BE FY27, a sequence that keeps the post pandemic promises on course while still giving room for capex-driven growth.
On the expenditure and borrowing front, the Budget raised capital expenditure to about Rs 12.2 lakh crore for FY27, signalling another year of heavy public investment in infrastructure, especially in emerging tier 2 and tier 3 growth centres that are starting to look more like mini metros than satellite towns. To fund the gap, the Centre plans net market borrowing of Rs 11.54 lakh crore through dated securities, with the balance coming from small savings and other sources, in line with the glide path indicated in the Budget 2025 26 speech. That combination—slower deficit, still high capex and a calibrated borrowing programme—is meant to keep bond yields contained while nudging the baton from public to private capex over the medium term.
Markets, however, zeroed in on the tax tweaks. On the indirect side, the Finance Bill, 2026 sharply increased the Securities Transaction Tax (STT) on derivatives: STT on futures goes up from 0.02% to 0.05% of the traded value, while STT on options rises from 0.10% to 0.15% of the premium (and from 0.125% to 0.15% when options are exercised). That makes high-churn F&O strategies more expensive at the margin and nudges some speculative volume off the table, even as it modestly boosts revenue. On the direct tax side, the Income-tax Act, 2025 is slated to take full effect from 1 April 2026, with fresh slab structures, harmonised surcharge rules and a cleaned up TDS/TCS and penalty framework, all aimed at reducing litigation and making the law more “plain English” for taxpayers.
The Budget also delivered compliance relief via Tax Collected at Source (TCS) rationalisation under the LRS and travel bucket. TCS on overseas tour packages has been pared down to a flat 2%, replacing the earlier structure that included higher 5–20% slabs and thresholds. Similarly, TCS on remittances under the Liberalised Remittance Scheme for education and medical treatment drops to 2% from 5%, with a higher trigger threshold, easing the cash flow pinch on families sending children abroad or paying for medical procedures. Alongside, the Bill tightens the architecture for revised and updated returns—allowing revised returns up to the end of the assessment year (or 12 months in the new Act), with a modest fee if filed late—while keeping the extended “updated return” window of up to four years, albeit at a steep additional tax to discourage strategic under reporting.
For cross border and enforcement issues, the Budget has carved out a targeted Foreign Assets of Small Taxpayers Disclosure Scheme, 2026. The scheme ring fences smaller cases—undisclosed foreign assets and income up to defined ceilings—into a one time, time bound window where taxpayers can come clean by paying 30% tax plus a 100% penalty on that tax on previously untaxed foreign assets or income, or a flat Rs 1 lakh fee in benign cases where foreign assets bought out of already taxed income were not reported in the foreign asset schedule. In return, declarants get immunity from further tax, penalty and prosecution under the Black Money Act on the declared items. The exact opening and closing dates will be notified separately, but the policy signal is clear: clean up small legacy foreign asset issues before the information exchange net tightens further.
On the business tax side, several structural tweaks stand out. First, supply of manpower is now explicitly included in the statutory definition of “work” for TDS purposes, putting manpower contracts clearly under the contractor TDS net at the familiar 1%–2% slabs depending on the payer’s status. Second, the Minimum Alternate Tax (MAT) regime has been recalibrated: the MAT rate in the old corporate tax regime is trimmed to 14% and treated as a final tax, while companies moving into the new lower rate regime are allowed to use their legacy MAT credits under the old law, but with a tight 25% cap on the amount of MAT credit that can be set off against normal tax in any one year and a 15 year sunset for utilisation. That balances taxpayer expectations on MAT credit with the government’s desire to avoid MAT shielded “zero tax” years under the new regime.
For non resident and digital economy players, the government has doubled down on India as a data and cloud hub. Through amendments to the exemption schedules, qualifying foreign companies that deliver global cloud or data centre services by procuring capacity from “specified” Indian data centres—which themselves must be owned and operated by Indian companies, notified by the Centre and meet detailed conditions—can enjoy a long duration tax exemption on such income, available up to the tax year ending 31 March 2047. The idea is to attract global cloud majors to build onshore stacks on top of Indian owned infrastructure, without triggering immediate tax friction on the foreign service entity’s income sourced from those data centre services.
The Budget also rationalises a few smaller but high friction levies. On the collection side, TCS rates on scrap and alcoholic liquor for human consumption are unified at 2%, down from higher earlier rates, giving a modest relief to cash flow sensitive sectors like metals trade and liquor distribution while keeping traceability intact. On capital markets, the long criticised buyback tax is being redesigned: rather than a blunt corporate level levy, the Bill proposes an additional capital gains tax on promoter level gains arising from buybacks, at differentiated rates for domestic and foreign promoters, while non promoter shareholders simply pay normal capital gains tax. That structure softens the blow for retail holders and aligns with the policy goal of penalising aggressive promoter buyback engineering more than ordinary investors.
Beyond taxes, the Budget leans hard into manufacturing, logistics and services as growth engines. Customs schedules have been overhauled to remove rate clutter, cut or eliminate basic customs duty on a basket of critical minerals and components for electronics, clean tech, batteries, telecom and shipping, and amend rates for shipbuilding, airports and select agri linked products, all with an eye on domestic value addition and supply chain resilience. Infrastructure plans—from PPP pipelines, a new asset monetisation plan and multimodal connectivity under PM Gati Shakti to continued support for Jal Jeevan, urban challenge funds and maritime corridors—are meant to keep the public investment cycle humming even as the deficit comes down. On the services and social side, the government has layered in measures such as a fresh Rs 10,000 crore fund of funds for startups, expanded skilling and research allocations, and sector specific pushes in tourism, medical tourism and urban livelihoods, framing the entire package as an attempt to deliver both hard infrastructure growth and more inclusive, employment rich development.
Bajaj Auto shed 0.87%. The company’s standalone net profit increased 18.68% to Rs 2,502.81 crore on 18.84% jump in revenue from operations to Rs 15,220.33 crore in Q3 FY26 over Q3 FY25.
VST Tillers Tractors advanced 1.27% after the company reported a 53.89% surge in total sales to 5,257 units in January 2026, up from 3,416 units sold in January 2025.
Meesho fell 4.97% after the company's consolidated net loss widened to Rs 490.68 crore in Q3 FY26, compared with a loss of Rs 37.43 crore in Q3 FY25. Net sales rose 31.32% YoY to Rs 3,517.60 crore in Q3 FY26 from Rs 2,678.64 crore in the year-ago quarter.
Steel Strips Wheels (SSWL) advanced 0.66% after the company reported a net turnover of Rs 480.03 crore for January 2026, marking a 17.32% year-on-year (YoY) increase compared to Rs 409.16 crore recorded in January 2025.
R R Kabel rose 1.10% after the company reported growth in profit and revenue for the December quarter. On a consolidated basis, net profit rose 72.4% YoY to Rs 118.2 crore in Q3 FY26, compared with Rs 68.6 crore in Q3 FY25.
Relaxo Footwears fell 2.06% after the company reported a 19.6% decline in net profit to Rs 26.54 crore, despite a 0.2% rise in net sales to Rs 668.03 crore in Q3 FY26 over Q3 FY25.
Escorts Kubota advanced 2.29% after the company’s Agri Machinery Business in January 2026 sold 9,799 tractors registering a growth of 46.9% as against 6,669 tractors sold in January 2025.
On Friday, U.S stocks witnessed some profit taking, with technology shares remaining in a funk, even as investors largely approved of President Donald Trump’s pick of Kevin Warsh to lead the Federal Reserve.
The S&P 500 fell 0.43% to finish at 6,939.03, its third straight down day. The Dow Jones Industrial Average pulled back 179 points, or 0.36%, to settle at 48,892.47. The tech-heavy Nasdaq Composite underperformed, dropping 0.94%, to end the day at 23,461.82. All three indexes fell more than 1% at session lows.
Spot gold and silver dropped around 9% and 28%, respectively. Over the past year, gold and silver futures have soared about 67% and 142%, respectively.
Warsh’s selection was likely to ease concern about Fed independence because of his experience as a Fed governor and strong stance at times against inflation. While he is likely to push for lower rates in short term as Trump wants, the financial markets view him as someone who wouldn’t always follow the president’s direction and maintain credibility for monetary policy.