Core Viewpoint - Truecaller AB has been actively repurchasing its own B shares as part of a share buyback program initiated on May 30, 2025, with a total of 500,000 shares repurchased in week 13 of 2026, representing 0.14% of outstanding capital [1][2]. Share Buyback Program - The share buyback program is set to continue until the Annual General Meeting (AGM) in May 2026, following authorization from the Board during the 2025 AGM [2][3]. - The total number of shares repurchased since the program's inception amounts to 15,629,594, which is 4.42% of the outstanding capital [1][4]. Weekly Buyback Details - In week 13 (March 23-27, 2026), Truecaller repurchased shares with the following details: - March 23: 100,000 shares at an average price of SEK 10.83 - March 24: 100,000 shares at an average price of SEK 10.68 - March 25: 100,000 shares at an average price of SEK 10.60 - March 26: 100,000 shares at an average price of SEK 10.47 - March 27: 100,000 shares at an average price of SEK 10.19 - The total transaction value for the week was SEK 5,276,022, with an average share price of SEK 10.55 [3][4]. Total Shares and Holdings - As of March 27, 2026, Truecaller holds a total of 19,574,926 B shares and 5,013,786 C shares, which together represent 6.95% of the outstanding capital [4]. - The total number of shares in Truecaller, including repurchased shares, is now 353,790,721, while the number of outstanding shares, excluding repurchased shares, is 329,202,009 [5]. Historical Buyback Summary - A summary of Truecaller's previous buyback programs includes: - October 2022 - May 2023: 13,281,779 shares at an average price of SEK 33.99 - June 2023 - May 2024: 15,365,336 shares at an average price of SEK 31.78 - June 2024 - May 2025: 3,945,332 shares at an average price of SEK 36.35 - June 2025 - March 2026: 15,629,594 shares at an average price of SEK 19.88 - The total shares repurchased across all programs amount to 48,222,041, with an average price of SEK 28.90 [5][6].

Market Overview - The Sensex and Nifty indices experienced a significant decline due to escalating geopolitical tensions in West Asia and rising crude oil prices [7][4] - The 30-share BSE Sensex fell by 1,191.24 points to 72,391.98, while the 50-share NSE Nifty dropped by 349.45 points to 22,470.15 in early trade [5] Foreign Investment Trends - Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,367.30 crore on Friday, contributing to market weakness [10] - In March, foreign investors withdrew Rs 1.14 lakh crore (approximately $12.3 billion) from domestic equities, marking the worst monthly outflow due to geopolitical tensions and concerns over crude oil prices [11] Sector Performance - Major laggards among the Sensex firms included Axis Bank, Kotak Mahindra Bank, Bajaj Finserv, Bajaj Finance, Bharti Airtel, and ICICI Bank [6] - Gainers in the market included Bharat Electronics, Reliance Industries, Power Grid, Tata Consultancy Services, and Hindustan Unilever [8] Global Market Impact - Asian markets broadly declined, with South Korea's Kospi and Japan's Nikkei 225 experiencing significant drops, reflecting the global impact of geopolitical uncertainty [12] - The US market also ended significantly lower, with the Nasdaq Composite index down by 2.15%, Dow Jones Industrial Average down by 1.73%, and S&P 500 down by 1.67% [9]

Market Overview - Equity benchmark indices Sensex and Nifty experienced significant declines in early trade on March 30, 2026, due to ongoing geopolitical tensions in West Asia and rising crude oil prices [1] - The BSE Sensex fell by 1,191.24 points to 72,391.98, while the NSE Nifty dropped 349.45 points to 22,470.15 [1] Sector Performance - Among the 30 firms in the Sensex, Axis Bank, Kotak Mahindra Bank, Bajaj Finserv, Bajaj Finance, Bharti Airtel, and ICICI Bank were the largest laggards [2] - Conversely, Bharat Electronics, Reliance Industries, Power Grid, Tata Consultancy Services, and Hindustan Unilever showed gains [2] Foreign Investment Trends - Foreign Institutional Investors (FIIs) sold equities worth ₹4,367.30 crore on March 27, 2026, while Domestic Institutional Investors (DIIs) purchased stocks worth ₹3,566.15 crore [3] - In March, foreign investors withdrew ₹1.14 lakh crore (approximately $12.3 billion) from domestic equities, marking the worst monthly outflow due to escalating tensions in West Asia and concerns over the impact of high crude oil prices on India's economic growth [4] Geopolitical Impact - The ongoing conflict in the Middle East, particularly the missile strikes by Yemen's Houthis on Israel, has heightened fears of prolonged instability in the region, affecting investor sentiment [5] - Asian markets, including South Korea's Kospi and Japan's Nikkei, opened significantly lower, reflecting the broad-based weakness in response to external pressures [5] Recent Market Movements - On March 27, 2026, the Sensex declined by 1,690.23 points or 2.25% to close at 73,583.22, while the Nifty fell by 486.85 points or 2.09% to end at 22,819.60 [6]

Market Valuation Impact - The combined market valuation of seven of the top-10 most valued firms decreased by ₹1.75 lakh crore during a holiday-shortened week, with Reliance Industries experiencing the largest decline [1] - The market capitalization of Reliance Industries fell by ₹89,720.3 crore to ₹18,24,515.62 crore [4] - HDFC Bank's valuation decreased by ₹37,248.59 crore to ₹11,64,018.69 crore [4] - State Bank of India lost ₹35,399.42 crore, bringing its market valuation to ₹9,41,569.15 crore [6] - ICICI Bank's market capitalization dropped by ₹8,121.76 crore to ₹8,83,551.30 crore, while Bharti Airtel's valuation declined by ₹2,480.42 crore to ₹10,50,413.33 crore [6] - Hindustan Unilever's market capitalization diminished by ₹2,091.13 crore to ₹4,87,540.19 crore, and Tata Consultancy Services (TCS) dipped by ₹271.35 crore to ₹8,64,668.65 crore [6] Market Trends and Influences - The BSE benchmark Sensex lost 949.74 points or 1.27%, and the NSE Nifty fell by 294.9 points or 1.27% [1] - The market ended the week on a weaker note due to heightened volatility amid fluctuating global cues and escalating geopolitical tensions in the Middle East [2] - Early losses were attributed to concerns over energy supply disruptions and a weakening rupee, which reached a record low [2] - A mid-week recovery occurred due to hopes of a temporary de-escalation in US-Iran tensions, but renewed selling pressure on Friday erased these gains [4] Positive Market Movements - Bajaj Finance's market capitalization increased by ₹8,680.36 crore to ₹5,25,395.48 crore [7] - Infosys added ₹6,245.3 crore to its valuation, bringing it to ₹5,15,034.67 crore [8]

Investment Rating - The report suggests focusing on sectors driven by domestic AI development, such as servers and IDC, as well as sectors driven by overseas AI development, including servers and optical modules [4] Core Insights - The AI industry is experiencing significant growth, with NVIDIA highlighting a tenfold increase in AI model parameters annually, driving demand for GPUs and high-bandwidth networks [52] - Lumentum's OCS business has exceeded expectations, achieving over $10 million in quarterly revenue ahead of schedule, with a backlog of over $400 million [47] - Huawei's new AI chip has successfully passed customer testing, with ByteDance and Alibaba planning to purchase, marking a significant breakthrough in domestic AI computing capabilities [3] - The price of mainstream G.652D-24 core optical cables has risen significantly, reflecting tight supply conditions in the optical cable market [41] - ByteDance's cloud model has seen a daily call volume exceeding 100 trillion tokens, indicating a 60% increase in less than two months, accelerating the construction of domestic computing power [49] - Arm Holdings has announced its first sales of self-developed AGI CPU chips, with expectations of generating approximately $15 billion in annual revenue from new chip business within five years [44] Summary by Sections Communication Sector Insights - The communication sector is showing a stable upward trend, with 5G investment cycles concluding and cloud and IDC businesses growing [15] - The optical module index has increased by 10.65% this month, with Lumentum positioned as a key supplier in the AI-driven cloud transceiver, OCS, and CPO sectors [9][10] - The server index has decreased by 8.49% this month, but Arm Holdings' new AGI CPU chip is expected to significantly boost revenue in the coming years [2][6] Core Data Updates - Telecom business revenue for January-February 2026 reached 290.4 billion yuan, a year-on-year decrease of 1.7%, but total telecom business volume grew by 8.4% [3] - In February 2026, China's optical module exports increased by 26.6% year-on-year, with cumulative growth of 17.7% [25] Market Trends - The report indicates a robust demand for OCS and CPO industries, driven by the AI sector, with significant future growth potential [2][9] - The IDC index has decreased by 6.55% this month, but the successful testing of Huawei's new AI chip is expected to enhance domestic AI computing capabilities [10]

Core Viewpoint - The article emphasizes the strategic importance of 6G technology in China's future industrial development, highlighting its potential to revolutionize connectivity and create new economic opportunities across various sectors [1][2]. Group 1: 6G Technology and Its Impact - 6G is expected to provide seamless connectivity across air, land, and sea, integrate AI capabilities into networks, and create a more refined digital twin environment [2][3]. - The core role of mobile phones will remain unchanged in the next decade, evolving into "smart agents" that facilitate competition among internet giants, operating system developers, and hardware manufacturers [2][3]. - The emergence of new terminal forms, such as AR glasses and humanoid robots, is anticipated, with AR glasses facing challenges due to battery technology, while humanoid robots may become a significant market player [3][4]. Group 2: Industry Integration and Challenges - 6G is seen as a critical foundation for the deep integration of the digital economy and the real economy, characterized by "three integrations": sensing, intelligence, and space [3][4]. - The industry faces challenges in clarifying real demand and ensuring deep collaboration across various sectors to avoid repeating past mistakes seen in 4G and 5G developments [4][5]. - The need for technical integration and ecosystem collaboration is highlighted, with a focus on the willingness of leading manufacturers to embrace innovation and open ecosystems [5]. Group 3: Timeline and Market Dynamics - The timeline for 6G development aims for the first international standard to be completed by 2029, with commercial implementation expected around 2030 [6]. - The competition in the terminal market is set to intensify, particularly for mobile phone smart agents, AR glasses, and humanoid robots, which represent significant growth potential [6]. - The pricing of 6G services is expected to be relative, with new value propositions emerging that may justify higher costs, while multiple generations of mobile technology will coexist [6].

Market Overview - The market has experienced a macro week with limited corporate-specific data, primarily influenced by geopolitical issues, particularly the conflict in Iran [4][28] - Defensive stocks, such as oil majors and telecom companies, have performed well, with Exxon Mobil (XOM) up 9% and Chevron (CVX) up 7% [4][6] - AI stocks have faced significant declines, with Micron (MU) down 15%, Meta (META) down 12%, and Oracle (ORCL) down 8% [7] Sector Performance - Oil majors have seen substantial gains, with both Exxon Mobil and Chevron up approximately 40% year-to-date [5] - Telecom stocks are also considered defensive, with AT&T (T) up 3%, T-Mobile (TMUS) up 3%, and Verizon (VZ) up 2% [6] - The decline in AI stocks indicates a shift in investment focus back to traditional sectors [7][8] Regulatory Impact - Circle (CRCL) dropped 20% due to reports regarding the Clarity Act, which proposes stricter regulations on stablecoins [10] - Coinbase (COIN) also experienced a decline of 19% amid these regulatory concerns [11] Economic Indicators - Upcoming jobs data is anticipated to be a major catalyst for market movement, with the last report showing a loss of 92,000 payrolls and an unemployment rate of 4.4% [13][14] - The labor participation rate is trending lower at about 62%, indicating potential structural changes in employment dynamics [14][15] Interest Rate Expectations - Market expectations for interest rates have shifted significantly, with a 96% chance of no change at the next Fed meeting, but a 39% chance of higher rates by the end of the year [20][22] - This marks a reversal from earlier expectations of rate cuts, reflecting concerns over inflation and economic conditions [21][22] Geopolitical Concerns - The ongoing conflict in Iran is a significant factor affecting market sentiment, with potential implications for oil prices and inflation [28] - A resolution to the conflict could lead to a rapid decline in oil prices, positively impacting market conditions [28]

Company Overview - AT&T Inc. is the second largest wireless service provider in North America and a leading global communications service carrier, offering a wide range of solutions including wireless, local exchange, long-distance, data/broadband, Internet, video, managed networking, wholesale, and cloud-based services [12]. Investment Ratings - AT&T has a Zacks Rank of 3 (Hold) and a VGM Score of B, indicating a moderate investment outlook [13]. - The company has a Momentum Style Score of B, with shares increasing by 5.3% over the past four weeks [13]. Earnings Estimates - For fiscal 2026, seven analysts have revised their earnings estimates upwards in the last 60 days, with the Zacks Consensus Estimate increasing by $0.05 to $2.30 per share [13]. - AT&T has an average earnings surprise of +3.8%, suggesting a positive trend in earnings performance [13]. Investment Considerations - With a solid Zacks Rank and strong Momentum and VGM Style Scores, AT&T is recommended for investors' consideration [14].

Group 1: Subsea Cable Risks and Data Centre Impact - The Indian government is assessing risks to subsea data cables amid geopolitical tensions, particularly threats from Iran affecting critical data routes through the Strait of Hormuz and the Red Sea [21] - Approximately one-third of India's westbound internet traffic to the US and Europe relies on these subsea cables, with potential rerouting options being limited and costly [2][21] - Any sustained disruption could jeopardize India's $270 billion data centre initiative, which depends on robust subsea connectivity [2][21] Group 2: Anthropic's Legal and Business Developments - A federal judge has temporarily prevented the US Department of Defense from designating Anthropic as a security risk, allowing the company to continue pursuing government contracts [7][21] - Anthropic is considering a public listing as early as October, with early discussions with major Wall Street banks for the potential IPO [10][21] - The company is focused on ensuring its AI technology is used safely and reliably, despite regulatory challenges [8][21] Group 3: IT Industry Trends and M&A Activity - India's tech services industry, valued at nearly $300 billion, may experience a revenue decline of 2-4% over the next two years due to accelerated AI adoption [11][21] - IT firms are increasingly pursuing mergers and acquisitions to mitigate revenue pressures, with large deals being made at attractive valuations [11][21] - Infosys' $560 million investment in specialized healthcare IT solutions highlights the trend of IT firms leaning into large deals to adapt to changing market conditions [12][21] Group 4: OpenAI's Advertising Revenue and Market Position - OpenAI's ad pilot in ChatGPT has generated over $100 million in annualized revenue within six weeks, indicating strong demand for its advertising model [22] - The company plans to expand its ad pilot to additional countries, including Australia, New Zealand, and Canada [22] - Microsoft is facing challenges due to heavy AI infrastructure spending and concerns that AI solutions from competitors like Anthropic and OpenAI may reduce demand for its core software products [19][22]

Core Viewpoint - A2Z Cust2Mate Solutions Corp. has extended its share repurchase program, allowing the company to buy back up to $20 million of its outstanding shares for an additional three months, until July 6, 2026 [1][4]. Group 1: Share Repurchase Program - The company believes that the current market price of its common shares does not reflect its underlying value and prospects, making the share repurchase an appropriate use of financial resources to enhance shareholder value [2]. - Oppenheimer & Co., Inc. has been engaged as the broker for the repurchase program, which may be conducted through open market transactions or other methods, subject to market conditions and regulatory compliance [3]. - The repurchase program will utilize existing cash and cash equivalents, with all purchased shares being returned to treasury and cancelled [3]. Group 2: Company Overview - A2Z Cust2Mate Solutions Corp. specializes in innovative technology solutions, particularly in the retail sector, with its flagship product being AI-driven smart carts that enhance the shopping experience [5]. - The smart carts facilitate in-cart scanning and payment, allowing customers to bypass checkout lines while receiving personalized offers and recommendations, thereby improving customer satisfaction and loyalty [5]. - The technology also provides retailers with data-driven insights to optimize operations and merchandising, transforming traditional shopping carts into intelligent platforms [5].