Market calendar

Reserves slipped from the record high, ending a ten-week run of gains.

Exports $43.81B (+26% YoY) outpaced imports $70.67B (+14%) - a narrower deficit supports the rupee.

Record August; two-wheelers 20,34,698 (+10.5%) - a direct read on consumer demand and auto stocks.

Monthly labour-market check for ages 15+; second straight decline.

Tracks factory-gate prices — an early signal of margin pressure for producers.

Indian equity and derivative markets are shut for the day; no cash or F&O trading.

India's headline retail inflation — the number the RBI targets at 4%. Highest since Dec 2024.

Tenth straight weekly gain - a bigger RBI buffer against rupee volatility.

Reserves are the RBI's buffer for defending the rupee; FCA rose $9.34B and gold $2.19B.

Final August reading, revised down from the 54.5 flash; hiring hit a 15-month high even as new orders stayed soft.

Festive stocking: Maruti +35% to 1,76,971; Tata PV +59% to 65,253; M&M SUVs +50% to 59,257; Hyundai +23.6% to 54,396.

Above 50 means factory activity is still expanding.

Monthly GST take is the cleanest high-frequency read on domestic demand; August rose 14.8% YoY.

Headline growth number for the economy; came in above the RBI's 7% projection.

First read on Apr-Jun growth. RBI has just raised its full-year FY27 call to 6.7%.

India's import cover and the RBI's firepower to steady the rupee.

Factory, mining and power output - the monthly pulse of India's industrial economy. Manufacturing rose 7.3%.

Malhotra wants more clarity on inflation before recalibrating; Dy Gov Gupta sees CPI peaking near 5.9% in Q3.

Steep fall as one-off lenalidomide (generic cancer drug) sales faded from the base.

India's largest iron ore miner — volumes are a read on steel demand.

Wholesale inflation eased slightly; fuel & power +20.05% still far above retail CPI at 4.45%.

Pre-sales, not profit, is the number that moves realty stocks.

A wider deficit means more dollars leaving India — pressure on the rupee.

Headline P&L not yet independently verifiable; order book and guidance shown instead.

Tata Motors Passenger Vehicles Ltd (TMPV) — the PV/EV/JLR entity after the Oct-2025 demerger (former Tata Motors Ltd, BSE 500570). Distinct listed co from Tata Motors (Commercial Vehicles, BSE 544569, Aug-12 row) — NOT a duplicate.

India Gate basmati maker: much stronger margins on a softer topline; earnings call 17 Aug.

Stock hit the 20% upper circuit on the print.

LNG importer — revenue swings with gas prices/volumes; earnings driven by regas margins. Standalone headlined per outlets (cons barely differs).

Tata Motors Ltd — the Commercial Vehicles entity (BSE 544569) after the Oct-2025 demerger; distinct from Tata Motors Passenger Vehicles (TMPV, the Aug-13 row) — NOT a duplicate. Board Aug 12.

Defence PSU — order-book execution read; stock at 52-week high on results.

Aditya Birla flagship (cement via UltraTech, VSF, chemicals, B2B/paints); consolidated headlined per house rule.

Factory output accelerated, led by manufacturing and capital goods.

Bearings maker — automotive biz demerged; the -47.6% headline is vs the pre-demerger ₹118 cr base that INCLUDED automotive; continuing Industrial ops grew. SKF India ≠ SK Finance ≠ SBFC Finance. Board Aug 12 (date corrected from Aug 11).

Retail inflation is the RBI's target variable - it decides the repo rate path.

India's largest online recruitment (Naukri) plus real-estate/matrimony platform; also holds large Zomato and PB Fintech stakes.

Logistics leader; profit fell on Ecom Express integration & network costs despite strong parcel-volume growth.

Loss narrowed on cost cuts but revenue slid on price cuts and lower volumes; consolidated per house rule.

Precision defence/energy components. Consolidated PAT +19.5%, rev +25.9%; EBITDA ₹64.1 cr, margin 37.6%. Standalone published as the clean absolute.

India's largest bank; standalone PAT is the headline per the bank house rule (consolidated carried alongside).

Specialty oleochemicals maker (food/plastic additives).

Wind O&M arm of Inox Wind; consolidated net profit nearly doubled YoY.

Consolidated PAT fell 34% on a margin squeeze — EBITDA ₹152 cr (-17%), margin 18.7% vs 22.2%; EPC/execution costs doubled. Order book 4.4 GW.

Defence & space optics/electronics. PBT ₹28 cr (+44%); ₹1 dividend, record date Aug 28.

Upstream oil & gas PSU (distinct from Indian Oil / OMC refiners) — profit surges on high crude realisations.

Snack-foods maker; sharp profit rebound as Rajkot plant resumed after last year's fire; earnings call Aug 10.

Mid-market hotel chain; profit up on higher occupancy and room rates.

Hospital + diagnostics growth drove double-digit revenue; margins eased on higher opex.

Diversified financials; profit jump led by alternative asset-management and MF gains.

World's largest 2-wheeler maker (Nifty 50). Consolidated PAT down 17% on JV/associate drag even as standalone PAT rose 29% to ₹1,454 cr; volumes 16.77 lakh units (+23%). ₹1,706 cr was Q1 FY26, not this quarter. Consolidated headlined per house rule.

Consolidated PAT +16%; EBITDA ₹2,450 cr, margin 29.6%; strong US/branded-generics growth.

Train ticketing led (39% of revenue); adj EBITDA dipped on hotels + AI-platform investment.

Corrected — the prior auto-fill carried a wrong revenue (₹219 cr, +16%); verified rev is ₹230.98 cr (+22.8%).

IT services; consolidated per house rule. Margin compression on AI-native transition; book-to-bill 1.18x.

Services PMI (final) eased to a 4-year low from 57.4 in June on softer new business — still expansionary above 50.

Profit surged off a low base (Q1 FY26 PAT ₹10 cr); glass-lined-equipment order intake strong. Consolidated per house rule.

Biopharma major — profit jump led by biosimilars & generics; consolidated per house rule.

NOT to be confused with JK Cement (separate, bigger co; its Q1 was ₹274.62 cr -15%). Fuel/material costs + a ₹130 cr exceptional charge drove the decline.

Higher input/employee/other costs squeezed margins despite double-digit revenue growth.

Volume-led turnaround on operational efficiencies/cost rationalisation, not revenue growth.

MPC held the repo rate at 5.25% for a 4th straight meeting and kept the neutral stance (SDF 5.0%, MSF 5.5%); Gov. Sanjay Malhotra flagged inflation edging above target on fuel/food, seen peaking in Q3 — the repo rate sets loan EMIs and bank margins.

India's largest oil & gas producer; standalone soared on high crude prices, consolidated hit by refiner arm HPCL.

Rail-transport PSU consultancy; margin eased YoY.

Margin squeeze despite strong revenue; stock fell ~14% on the print.

Auto-components supplier; record quarterly revenue tracks strong OEM demand.

Tariff hikes + subscriber upgrades drove ARPU; telecom bellwether.

Luggage maker; revenue grew but margins compressed on higher costs.

Beauty GMV +28%; margins at a 12-quarter high — profitability inflection.

Flat bottom line despite +15% income — depreciation/finance costs on new capacity (Subansiri Lower 250MW). Corrected an earlier over-stated auto-fill.

Air-cooler maker; profit dipped on a softer cooling season.

Volume-led (patients +10%, tests +11%); specialty & TruHealth outgrew; FY27 guide kept at 14-16% growth. Results declared Aug 5.

Cryogenic-equipment maker; steady revenue growth, healthy order inflow. Results out Aug 3; call Aug 4.

Fintech turned in its third consecutive profitable quarter; shares jumped ~8%.

Hotel operator; steady RevPAR growth despite geopolitical headwinds (no absolute Q1 PAT in press — operational basis).

Real-estate bellwether; profit edged up even as revenue fell on lower sales bookings/deferred launches.

Factory-activity gauge — above 50 signals expansion. Jul eased to 53.5 (June 54.2), the softest reading in nearly five years and below the 53.9 flash; still a 57th straight month of expansion.

India's largest stainless-steel maker; MD flagged West-Asia conflict disrupted production. Results out Aug 3; call Aug 4.

July dispatches: Maruti 241,421 total (domestic all-time high 200,123); M&M 1,03,860 (+26%, SUVs 60,048 +20%, dom tractors 32,643 +21%); Hyundai 75,360 (+25.4%, dom 54,210); Tata Motors 39,641 (+37%). A demand pulse for autos and consumer spend.

Consolidated PAT ₹2,825 cr (+43% YoY vs ₹1,974 cr); AUM ₹1,91,532 cr (+43%); EPS ₹69.72. Board flagged leadership succession — Alexander George MD, George Alexander Muthoot Exec Vice Chairman, K R Bijimon CEO, all eff 1 Oct 2026.

Gross GST ₹2.11 lakh cr (+15.4% YoY); net after refunds ₹1.81 lakh cr (+15.8%); domestic +10.1%, imports +28.8% (₹66,511 cr). A real-time gauge of activity and consumption.

Consolidated PAT ₹263.11 cr (+11% YoY vs ₹237.17 cr); Rev ₹5,606.71 cr (+8%). Sales volume -6% but pricing power + product mix expanded margins.

Consolidated PAT ₹48 cr (-6% YoY vs ₹51 cr); Rev from ops ₹287 cr (+21.6%); EBITDA ₹56 cr (+12%), margin 19.5% (vs 21.2%). Sonal Ramrakhiani appointed CEO.

IT services large-cap; EBIT margin 13.5% (-280bps QoQ), record TCV $1.15bn incl a $650M deal; signed a business-combination agreement to acquire Nagarro SE.

Volumes +29.3% and revenue +36%, but EBITDA margin slipped to ~8.2% (from 10.4%) on higher raw-material and operating costs, dragging profit lower.

Tiles maker's profit jumped 56% on volume growth and softer gas costs; a read on the building-materials / housing-demand cycle.

Profit fell as EBITDA margin compressed to ~16.8% (from ~29.7%) on the West Asia crude spike hitting input costs, even as revenue jumped 28%.

Lending drove the quarter (Bajaj Finance PAT +28%, BHFL +23%, Bajaj Life NBV +87%); board approved pursuing a re-insurance business. Headline is profit attributable to owners; total consolidated PAT was ₹6,297 cr.

Profit surge flattered by ₹528 cr of other income; core margin stayed thin — EBITDA margin eased to ~3.0% (from 3.8%) in the low-margin EMS model.

Slid to a loss as the West Asia conflict spiked crude costs and squeezed refining margins, despite a record first-quarter throughput of 19.2 MMT.

Hydro PSU; consolidated PAT roughly flat as higher interest/finance costs offset a ~52% revenue jump; standalone PAT ₹259 cr.

Profit up 19% YoY but -21% QoQ vs ₹2,965 cr on a one-time loss; board cleared a ₹33,873 cr NINL (Odisha) expansion.

City-gas margins squeezed by costlier raw gas procurement YoY, though profit recovered ~47% sequentially; volumes up ~7%.

Loss narrowed on quick-commerce scale — Instamart GOV +40%, food-delivery GOV ₹9,490 cr (+17%); EBITDA loss cut 32% to ₹650 cr.

Driven by auto + farm-equipment volume growth, stronger M&M Financial Services and Tech Mahindra margins; 400-500bps commodity inflation a drag. Parent M&M — distinct from MMFSL, which reported Jul 21.

Defence shipbuilder: strong operating quarter with EBITDA margin up to 15.2% (from 11.5%). Corrects an earlier auto-fill that understated PAT/revenue.

Textile & acrylic-fibre maker's profit up ~50% on margin expansion (EBITDA margin 17.5% vs 13.7%). Corrects an earlier auto-fill that understated PAT/revenue.

Record AUM ₹5.47L cr (+23.9%); new loans booked 1.61 cr (+20% YoY). Consolidates Bajaj Housing Finance — headline is attributable-to-owners PAT.

Consolidated per house rule. Record quarter on strong project execution.

Bank → standalone per house rule. Profit driven by better NIMs and lower slippages.

HELD unfilled per no-guess bar (demerger trap). After the May/Jun-2026 demerger, Vedanta split into separately-listed Aluminium / Oil & Gas / Power / Iron & Steel entities + the VEDL parent; each reported Q1 SEPARATELY (Oil&Gas PAT +₹945 cr, Iron&Steel +₹121 cr, Power −₹423 cr loss; Hindustan Zinc, still a VEDL sub, PAT ₹5,469 cr ~2x YoY). No clean single VEDL-parent consolidated Q1 number available — do NOT fill VEDL with a demerged-entity figure (same class of trap as Tata Motors CV/PV).

Consolidated (continuing ops) per house rule. Brand turnaround lifted margins to a record.

Consolidated per house rule. Sequential profit recovery on textiles; lower debt.

Consolidated per house rule (standalone/other summaries cite ~₹94 cr). Margin expansion on operating leverage.

Consolidated per house rule.

Consolidated per house rule. Revenue nearly doubled on capacity ramp; margin compressed on mix.

Consolidated attributable-to-owners per house rule; OFAC settlement paid 14 May 2026. Operating quarter strong (record EBITDA); loss is one-off.

Consolidated per house rule. Strong operational turnaround on margin expansion.

Consolidated per house rule. Profit fell on a one-off residential base; hospitality/annuity core grew double-digit.

Consolidated per house rule. Profit fell on a high pre-sales base (Q1 FY26 had ₹12,126 cr pre-sales); operations steady.

Factory-output gauge (new 2022-23 base year); June growth accelerated to 7.3% YoY, led by manufacturing and capital goods.

Wind-energy major. Revenue jumped but PAT slipped on logistics disruption and project-mix change; margin contracted. Consolidated basis.

PepsiCo's largest bottler outside the US. VBL reports on a calendar year, so this is Q2 CY2026. Consolidated basis (house rule for non-financials).

Mid-cap IT bellwether; Encora consolidation drove the 49% revenue jump and 110% PAT growth. Consolidated basis (house rule for IT). Corrected 28 Jul — auto-fill had wrong ₹3,080cr/-16% figures.

Microfinance stress and deposit costs are the swing factors for this lender.

Small-finance lender transitioning to a universal bank — deposit costs are the pressure point.

Diagnostics bellwether — fastest revenue growth in four years on volume + pricing.

Largest retail NBFC — AUM growth signals vehicle/SME credit demand.

Follows JSW Steel's strong quarter — a second read on steel prices and spreads.

Largest private life insurer — APE and VNB margin gauge new-business momentum.

India's biggest power generator — capacity additions and plant load factors matter most.

Large public-sector lender; its provisional update already showed advances up 17%.

Profit fell 39% on weaker US business & higher expenses; FY27 margin guidance maintained.

Airline swung to a loss on an 86% jump in fuel expenses despite 20% revenue growth.

Recently listed e-commerce platform — losses roughly halved as revenue grew 48%.

Mid-cap IT with heavy BFSI exposure; management guided to further sequential acceleration in Q2 FY27.

Steady growth quarter; profit dipped sequentially. Ashiss Kumar Dash named CEO-designate.

Profit recovered on sharply lower provisions and slippages; NII near-flat as advances shrank YoY.

OMC slid into loss as the West Asia crude spike lifted input costs while fuel prices were held down.

Profit and revenue rose on 27% capacity growth to 20.1 GW; highest-ever quarterly EBITDA.

Premium liquor volumes are a clean signal of urban discretionary spending.

Profit fell on higher finance costs and depreciation from aggressive capacity expansion; installed base 14,535 MW.

Profit fell on a ₹106 cr one-time actuarial charge tied to India's new labour-code wage definition; EBITDA up 8%.

Profit jumped on higher generation; board approved a ₹15,000 cr QIP and a higher debt ceiling.

Revenue leapt as Blinkit's inventory-led (1P) model grosses up sales; quick commerce turned adjusted-EBITDA positive.

Profit slumped on a semaglutide API inventory provision and a 35% fall in North America sales.

A staples bellwether — volume growth signals whether urban consumption is recovering.

Renewable-capacity ramp — a proxy for India's green-energy build-out.

Loss driven by holding petrol/diesel/LPG prices below cost during the crude spike; ₹3,485 cr LPG under-recovery.

Domestic like-for-like RevPAR up 14%; portfolio now 645 hotels after 11 openings in the quarter.

A ₹532 cr swing in regulatory deferral balances flatters the profit jump; total PAT including minorities was ₹1,237 cr.

Profit growth came from lower provisions rather than lending — advances up 16.4% but NII up only 6%.

Record quarterly revenue; standalone profit runs above consolidated because the financial-services arm drags the group number.

Consolidated YoY is not like-for-like — Bajaj Auto International Holdings was folded in from Nov 2025 with a one-quarter reporting lag, so much of the 65% revenue jump is inorganic.

Record quarterly EBITDA ₹203 cr (+182%), margin 8%; cash balance ₹13,529 cr. Board also took up a maiden bonus issue.

Beat estimates — volumes 41.31 MT (+12.2%), EBITDA ₹5,146 cr (+12.1%), grey cement realisation ₹5,218/tonne (+3.7%).

Beat on a ~44% drop in provisions; core NII +8% to ₹14,646 cr; NIM eased to 3.46%.

Lower provisions (-45% YoY) and ~15% loan growth offset NIM pressure.

Beat estimates; consolidated PAT ₹15,440 cr (+14%); provisions down ~30% YoY.

NIM slipped to a record-low 3.26%; gross advances +15.4% YoY.

Profit more than doubled and beat the ~₹3,070 cr estimate on stronger steel prices, higher volumes and a better product mix.

India's largest company by market cap — sets the tone for energy, retail and telecom.

Reliance's financial-services arm; profit up on dividend income, Jio Credit AUM ₹30,667 cr (2.6x YoY).

No.3 IT exporter; muted profit, soft Q2 guide (-1.5% to +0.5% CC), ₹2 interim dividend.

Wholesale inflation rose to 9.87% on fuel (+27.4%) and food (+6.14%) — far above retail CPI at 4.38%, a squeeze on producer margins.

Deficit widened ~59% YoY as imports (+31%) outpaced exports (+15.5%) — pressures the rupee and current account.

PAT +20% YoY, revenue ₹34,579 cr (+13.9%); ₹12/share interim dividend; FY27 guidance held at 1-4% cc.

17-month high — food inflation crossed 5% (5.32%), firming the case for a hawkish RBI on Aug 4-6.

Kicked off India's Q1 season — ₹12 interim dividend, $9.5B order book, margins at 24%.

Indian equity markets shut for the day — no cash or F&O trading.

Indian equity, F&O and currency markets shut for the day — no trading.