Manika is a macroeconomist with over 20 years of experience in industries including investment management, stock broking, investment banking. She also runs the profile Long Term Tips [LTT], which focuses on the generational opportunity in the green economy. Her investing group, Green Growth Giants, takes the theme a step further from LTT with a deeper dive into opportunities presented by the segment.Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies menti ...

Financial Results - Tata Steel reported a 723% increase in consolidated net profit for the December quarter, reaching Rs 2,689 crore compared to Rs 327 crore in the same period last year. Revenue from operations was Rs 57,002 crore, up 6% from Rs 53,648 crore year-on-year [6][12] - State Bank of India (SBI) announced a 24% year-on-year growth in standalone net profit at Rs 21,028 crore for the third quarter, with net interest income increasing by 9% to Rs 45,190 crore and operating profit growing 40% to Rs 32,862 crore [12] Corporate Developments - Anand Rathi Share and Stock Brokers reported a fraud of Rs 13 crore discovered by its Internal Inquiry Committee, involving unknown individuals and employees of Anand Rathi IT Private Limited [4][12] - Tata Motors Passenger Vehicles Ltd (TMPVL) plans to raise vehicle prices due to ongoing pressure from rising commodity costs [8][12] - Reliance Consumer Products Limited (RCPL) announced the acquisition of a majority stake in Australia-based Goodness Group Global, expanding its presence in the Australian market [12] Strategic Investments - Tata Chemicals announced an investment of Rs 515 crore to establish a new greenfield manufacturing facility in Tamil Nadu for the production of Iodised Vacuum Salt Dried (IVSD) [10][12] - ACME Solar secured a 301/1,204 megawatt hour firm and dispatchable renewable energy project from SECI, integrating advanced solar, wind, and Battery Energy Storage Systems [9][12] - Larsen & Toubro (L&T) plans to commission 18 MW of data center capacity by March-end, increasing total operational capacity to 32 MW, with a capital expenditure of around Rs 1,000 crore [8][12] Market Expectations - Titan Company anticipates a significant rise in sales of luxury Swiss watches in India following the India-EU Free Trade Agreement, which has reduced import duties [7][12]

Economic Measures - India announced measures to invest nearly $133 billion to enhance infrastructure and boost manufacturing across various sectors, including textiles and electronic components [2] - A growth fund of 100 billion rupees was allocated for small businesses, along with a 20 billion rupee top-up on a previous self-reliant fund [5] Benefiting Sectors - Pharmaceuticals sector is set to benefit from an outlay of $1.1 billion over the next five years aimed at boosting production and research for biologics and biosimilar drugs, with the Nifty Pharma Index surging post-announcement [6][14] - The textile industry is expected to gain from policy measures including the establishment of 'mega textile parks', with companies like Raymond Ltd. and Trident Ltd. seeing significant stock price increases [7][14] - Electronic manufacturing received a $4.3 billion investment to enhance production capabilities, particularly as companies like Apple Inc. expand their operations in India [7][14] - Cloud infrastructure companies will benefit from a proposed tax holiday for foreign firms providing cloud services from India-based data centers through 2047 [8][14] - Shipping stocks gained traction following the announcement of a ship-repair ecosystem and incentives for seaplanes, with companies like Shipping Corp. of India rising by 4.3% [9][14] - Firms in the cargo and transport sector, such as Container Corp. of India Ltd., are expected to benefit from proposed allocations for new dedicated freight corridors and high-speed city rail corridors [9][14] Losing Sectors - The government increased the securities transaction tax on equity futures from 0.02% to 0.05%, leading to declines in shares of the BSE and stock brokers like Angle One Ltd. [11][14] - State-owned banks faced disappointment as expectations for consolidation and relaxation of foreign shareholding caps were unmet, with shares of major banks like State Bank of India falling significantly [12][14] - The clean energy sector anticipated tax regime rationalization, which did not materialize, leaving the industry disappointed [12][14]

Core Insights - Groww is reportedly bidding to acquire PGIM India Asset Management, marking a significant expansion beyond its core broking and mutual fund distribution business [1][4] - PGIM is looking to exit its Indian asset management business after experiencing limited growth since its acquisition from Deutsche Bank AG nearly a decade ago [3] Company Developments - Groww has been building its asset management arm and acquiring PGIM India AMC would provide an established platform, regulatory licenses, and an existing product suite [4] - Earlier in the month, Groww announced a deal with State Street Investment Management (SSIM) for a 23% stake in its asset management arm, involving an investment of INR 580.02 Cr [5][6] - The AMC business of Groww reported an AUM of INR 4,118.8 Cr and 12 lakh unique investors, indicating strong growth potential in the Indian market [6] Financial Performance - Groww reported a 28% YoY decline in consolidated profit after tax (PAT) to INR 546.9 Cr in Q3 FY26, attributed to a one-time long-term incentive provision [8] - Operating revenue increased by 25% YoY and 18% QoQ to INR 1,216.1 Cr in Q3 FY26 [8]

Core Insights - Australian investors are showing a strong interest in artificial intelligence (AI) and are optimistic about returns from their global portfolios as they enter 2026 [1][2] Investment Trends - A survey of over 600 Australian investors indicates a commitment to high-growth sectors, particularly AI, despite awareness of economic and geopolitical risks [2][3] - 75% of investors plan to increase exposure to the US market, while 67% intend to invest more in the Australian market, reversing their current investment allocations [7] - 50% of investors plan to increase their usage of ETFs, with 42% looking to boost their exposure to individual stocks [7] AI Adoption - 92% of investors are interested in using AI tools for investment support, with 56% already using AI occasionally or regularly [4][5] - 62% of investors seek both AI and human advice, while 12% prefer AI tools exclusively [6] - A significant portion (31%) of investors would like AI to create entire investment plans, indicating growing trust in AI for financial planning [6] Risk Appetite and Market Expectations - 68% of investors plan to maintain their current risk levels, while 25% are willing to increase their risk exposure [9] - Investors expect market returns of 5% to 15% in Australia and slightly higher in the US [9][10] - Key concerns influencing investment decisions include the broad economy (64%), market volatility (50%), and geopolitical issues (47%) [10] Guidance and Confidence - Despite strong investment intentions, only 50% of investors expect to achieve their goals in 2026, with 39% uncertain [13][14] - There is a demand for better tools and insights to manage risk and navigate complex market conditions [14] Survey Details - The survey was conducted by Moomoo Australia and New Zealand among 642 active users of its trading platform, focusing on their investing behavior and expectations for 2026 [15]

Core Viewpoint - Angel One has established a new associate company, Angel One LivWell Life Insurance, in collaboration with LivWell Holding Company to enter the Indian life insurance market, pending regulatory approvals [1][2]. Group 1: Company Structure and Investment - Angel One will hold a 26% stake in the new insurance venture, while LivWell will maintain the majority share [1]. - The total proposed capital for the joint venture is Rs4 billion, with Angel One set to invest approximately Rs1.04 billion [2][3]. - The leadership team will be led by Wilf Blackburn as the proposed chairman and Nikhil Verma as the expected CEO [3]. Group 2: Market Focus and Regulatory Approval - The focus of the new company will be on delivering life insurance services across India, contingent on approvals from the Insurance Regulatory and Development Authority of India (IRDAI) and the Ministry of Corporate Affairs [2]. - The partnership aims to create a digital-first life insurance company, with the initial announcement made in July [2]. Group 3: Background of Partners - LivWell is backed by Olympus Capital, a private equity firm that has invested over $2.6 billion in Asian financial services, including stakes in HDFC Bank and CreditAccess Grameen [4]. - Angel One is currently involved in stock broking and other financial services, registered with stock exchanges [4].

Ajay Saraf, who has led ICICI Securities’ investment banking division for nearly 15 years, will move to become the head of the Indian firm’s retail stock broking and wealth business, sources say https://t.co/zAZoWJJlLq ...