October 14, 2026

TOP NEWS

War update:  A missile attack on Riyadh’s international airport has intensified the Iran war’s regional fallout, killing 12 people, including foreign nationals, and injuring more than 300. Saudi Arabia has accused Iran-backed Houthi rebels of carrying out the strike, prompting renewed calls for military support from its allies. An attack on a Saudi Aramco building in Dhahran has caused a small fire and has prompted evacuations.

TARIL: Revenues grew by 66% to Rs 709 crore, EBITDA grew by 205% to Rs 114 crore with margins at 16.1%. PAT was up by 330% to Rs 75 Crore due to one off exceptional gain. Order inflows was up by 97% to Rs 1169 crore. Unexecuted order book: 7,237 Cr, up 32% YoY; executable over 18–24 months. Rs 21,000 Cr inquiry pipeline; historical win ratio 10–15%. Changodar expansion nearing completion; commercial production expected around Diwali. Management remains on track to achieve FY27 guidance. Key monitorable would be Execution, capacity ramp-up, working-capital absorption and cash conversion.

Sejal Glass: Solid Q2FY27 with good QoQ and YoY uptick across all parameters. Highest ever revenue at 138cr vs 104cr.  PBT at 15.7cr vs 8.8cr. PAT at 14.4cr vs 9cr, OCF at -9cr vs 17cr. EBITDA margin: around 17.3% vs 16.2% YoY and 14.0% in Q1. Exports contributed 71% of total sales.

SS retail: Net Profit Up 36.6% At ₹23.5 Cr Vs ₹17.2 Cr (QoQ) . Revenue up 18.7% at Rs 789 crore vs Rs 665 crore.  EBITDA Up 25.5% at Rs 44.8 Cr Vs Rs 35.7 Cr Margin At 5.7% Vs 5.4% (QoQ).

Wipro: Wipro Limited clarified that it anticipates no material business impact following the U.S. Department of Labor's sudden suspension of new permanent labor certification (PERM) applications for several prominent IT companies. Strong buying in the IT sector was driven by better-than-expected results and optimistic commentary from HCL Tech commentaries which improved confidence in the sector outlook. The rally was further supported concerns around US visa restrictions after NASSCOM highlighted the industry's lower dependence on H-1B visas, and short covering as IT stocks had corrected significantly. Additionally, investors appeared to rotate back into traditional IT services names, boosting sentiment across the sector.

Hero Motors:  Hero Motors Profit Doubles, EBITDA Soars 93%, Net profit up 117% to Rs 10.2 crore from Rs 4.7 crore. Revenue up 24.9% to Rs 319 crore from Rs 256 crore. EBITDA up 93% to Rs 35.9 crore from Rs 18.6 crore. EBITDA margin at 11.2% versus 7.3% YoY.

MACRO WRAP

• China CPI rose 0.9% YoY in September 2026, and factory-gate prices rose 5.0% year-on-year and 1.2% month-on-month in September 2026. The September crude oil imports 37.096 mln tonnes, versus 37.928 mln tonnes in August and refined oil exports at 7.162 mln t in September, up from 6.01 mln t in August. China's imports in USD terms rose 31.0% YoY in September, versus a 24.3% forecast and a 28.2% prior reading and exports in USD terms rose 36.3% YoY, versus expected 25.0% and August's 25.0%. Bullish for base metals and Crude
• The US Treasury yield curve flattened, with the 2Y unchanged while the 10Y and 30Y fell. Brent crude oil held near USD105 a barrel amid ongoing Middle East supply concerns. The USD was softer.
• The Fed’s tone provided a partial offset to the risk-off mood. New York Fed President John Williams signalled that he continues to see one more rate hike as appropriate this year but indicated that current rates may already be sufficiently restrictive, prompting markets to price in a less aggressive tightening path.
• Houthi militants struck Saudi Aramco’s Dhahran HQ and Riyadh’s airport as a Saudi-led coalition advanced in Yemen. Iran stepped up tanker attacks in the Strait of Hormuz, while the US said it helped move over 19 million barrels of crude. Trump defended his diesel export deal with Russia as a way to boost supply and cut prices. Brent crude oil fell 0.9% to USD105.69 a barrel, as super tankers continued to divert away from the Persian Gulf amid escalating Iranian attacks on shipping. Gold dipped 0.3% to USD4,161.
• OPEC revised down Global oil demand forecast in its September monthly report by 0.2 mb/d in 2026, y-o-y, following a slight downward revision from last month’s assessment. Global oil demand in 2027 is forecast to grow by about 2.6 mb/d, y-o-y, following an upward revision from last month’s assessment.
• Germany CPI: Final September harmonised CPI confirmed at +3.3% YoY, up from 2.9% in August, reinforcing sticky inflation concerns in the eurozone's largest economy.
• The DJIA and the Nasdaq Composite Index dipped 0.4% and 0.2% respectively, while the S&P500 was little changed. The Philadelphia Semiconductor Index slipped 0.2%. The Euro Stoxx 50 fell 0.6%. The Dollar Index fell 0.4% to 102.22. EUR-USD rose 40 pips to approximately 1.1200. The US 2Y yield was little changed at 4.79% and the 10Y yield fell 3bp to 5.21%. The German 10Y yield fell around 1bp to 3.47%. The UK 10Y yield rose 1bp to 5.45%.
• For today, the key release is the September US CPI report, with headline CPI expected at 3.6% yoy and core CPI at 2.5% yoy. The data will be closely watched for implications on the Fed’s rate path.

OTHER NEWS

Hyundai Motor India: Hyundai Motor Group plans to invest $15.5 billion in India between 2026 and 2032. The investment includes a $700 million R&D centre, an investment entity in India and expanded manufacturing capacity for Hyundai and Kia.

Bharat Electronics: The company has received orders worth ₹533 crore since September 17, strengthening its order book and providing visibility on future execution.

Adani Enterprises: The company has signed a non-binding MoU with Jabil to explore a proposed 50:50 joint venture focused on manufacturing and assembling AI and data centre hardware in India.

Zydus Lifesciences: The US FDA concluded its inspection of the company’s manufacturing plant in Ahmedabad with five observations. The inspection was conducted from October 5 to 13, 2026.

Paytm: GST authorities have reduced the tax demand against the company’s First Games Technology arm by 88 per cent to ₹700 crore, easing the tax liability.

Shyam Metalics: The company has announced a major strategic advancement in its resource security and operational footprint through an investment in Alom Solar Private Limited, who has been declared as the successful bidder for the Phutamura Coal Block mining rights. Located in the Raigarh District of Chhattisgarh within the prolific Mand Raigarh coalfield, the Phutamura Coal Block spans an area of approximately 7.324 sq. km. and holds estimated coal reserves of approximately 170 million tonnes. It is expected that mining Operations and Coal Production shall commence from July 2027.  This strategic development serves as a crucial backward integration initiative for Shyam Metalics Group, designed to secure a stable, long-term, and cost-effective coal supply to support its captive power generation and core steel manufacturing processes. By securing vital raw material reserves, the Group reinforces its commitment to operational self-sufficiency, sustainable growth, and long-term value creation for its stakeholders.

Bharat Coking Coal: Company have approved a 0.1%–14% increase in basic prices across select raw coking coal grades for the non-regulated sector, including steel, direct feed and washery grades, to rationalise inter-grade price differentials.

Bank of Baroda: BR Shetty, founder of the NMC healthcare group and UAE Exchange, is seeking $15 billion in damages from Bank of Baroda and 25 other defendants, alleging that the public sector lender and some of its officials helped facilitate fraud involving group companies and pursued him on guarantees he claims he never signed. In a petition before the Bombay High Court, Shetty has claimed $5 billion in direct damages, another $5 billion in consequential damages, including loss of business and investment opportunities, and $5 billion in compensation for alleged reputational damage and loss of business standing and goodwill. The claims total approximately Rs 1.44 lakh crore. Sentimentally negative.