Jupiter Wagons saw its net profit drop 72% to Rs 29 crore in the March quarter. Revenue also fell 25% to Rs 780 crore. The company's EBITDA declined 46%. For the full year, profit after tax decreased 56%. Jupiter Wagons shares have seen a decline. Indian Railways plans a large tender for freight wagons.
Indian stock markets experienced a sharp selloff on Friday, with Sensex and Nifty dropping over 1%, driven by passive fund flows from MSCI index reshuffles. Volatility surged as the market lost Rs 6 lakh crore in capitalization. Analysts suggest caution amid indecisiveness and a lack of strong directional momentum.
Triveni Engineering & Industries reported a consolidated net profit of Rs 167.4 crore for Q4 FY26, a decrease from Rs 187.1 crore in the prior year. For the full FY26, revenue grew 11.9% to Rs 7,620.9 crore and net profit rose 12.8% to Rs 268.7 crore. These results incorporate the amalgamation of Sir Shadi Lal Enterprises, effective April 1, 2025.
Zara's India profit saw a significant 31.9% drop to Rs 204.14 crore in FY26, with revenue also declining slightly. This comes as Trent Ltd reduced its stake in the joint venture operating Zara stores in India. Meanwhile, another JV, Massimo Dutti, reported revenue growth.
Shalibhadra Finance is set for major expansion. The company aims to more than double its loan book by FY29. This growth will be fueled by new products like Micro LAP and home loans. Geographic expansion into new states is also planned. Technology investments will enhance efficiency. Shalibhadra Finance is positioning itself for significant growth in the retail finance sector.
India's Social Stock Exchange receives a significant boost. Companies can now channel a portion of their Corporate Social Responsibility spending through this platform. This move aims to broaden funding for non-profit organizations. It also enhances transparency and accountability within the social impact sector. The Ministry of Corporate Affairs has amended rules to facilitate this change.
Markets experienced volatility and ended the week with a modest loss, primarily due to MSCI rebalancing flows. Nifty consolidated within a range, with immediate resistance at 23,800 and support at 23,300-23,400. Traders are advised to maintain a selective approach and protect gains.
Bitcoin dipped to $73,000 despite ETF inflows and shrinking exchange reserves, failing to maintain momentum after touching $83,000 in May. Ethereum also faced pressure, trading below $2,000. While short-term technicals remain cautious, long-term holder accumulation and scaling developments support broader market structure.
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