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India’s Union Budget for FY 2026-27 will be presented at a time when the economy is balancing strong domestic momentum with external uncertainties. Scheduled for February 1, 2026, the budget will outline the government’s priorities for growth, stability, and reform.
As India moves steadily toward its long-term development goals, Budget 2026 is expected to address consumption, investment, and competitiveness without compromising fiscal responsibility.
Economic indicators suggest India remains one of the fastest-growing major economies. Government-led capital spending, digital adoption, and manufacturing incentives have supported growth over the past few years.
At the same time, global risks such as geopolitical tensions and trade disruptions continue to influence market sentiment. These realities make Budget 2026-27 a critical policy statement for both domestic and global investors.
Rising living costs have brought household finances into focus. As a result, income tax relief for salaried individuals remains one of the top expectations from Budget 2026.
An increase in the standard deduction or adjustments in tax slabs could provide immediate relief and support discretionary spending, benefiting sectors linked to consumption.
Businesses continue to seek stability and clarity. Measures that simplify tax compliance, reduce disputes, and improve GST efficiency could strengthen business confidence and ease operational challenges.
Despite expectations of relief measures, the government is expected to maintain its commitment to fiscal consolidation. Capital expenditure on infrastructure is likely to remain a central pillar of the budget.
Such investments support employment generation, improve logistics efficiency, and create long-term economic capacity.
Incentives aimed at boosting domestic manufacturing and reducing import dependence could gain renewed focus. This aligns with broader goals of economic resilience and self-reliance.
Budget 2026-27 may focus on strengthening agricultural infrastructure, improving access to finance, and encouraging crop diversification. Investments in storage and processing can help stabilise prices and farmer incomes.
Allocations toward skill development, digital education, and emerging technologies such as AI are expected to increase. These initiatives support India’s long-term workforce competitiveness.
Policy predictability, incentives for innovation-driven startups, and support for manufacturing ecosystems are likely to continue. Expansion of industrial activity beyond major metros could also be encouraged.
Railways, defence, EVs, affordable housing, and MSMEs are expected to remain on the policy radar. Any targeted incentives could influence sectoral performance in the markets.
Budget Day often brings heightened volatility as investors react to policy announcements. However, market trends over time are shaped more by earnings growth, investment cycles, and macro stability.
Long-term investors typically benefit by staying aligned with structural growth themes rather than reacting to short-term noise.
Rather than speculating on individual announcements, investors may consider reviewing portfolio allocation and risk exposure ahead of the budget. Staying informed through credible research and expert insights can make a significant difference.
Swastika Investmart supports investors with SEBI-registered research, robust trading platforms, and educational initiatives designed to help navigate market events with confidence.
What time will Budget 2026 be presented?
The Union Budget will be presented at 11 AM on February 1, 2026.
Will Budget 2026 include tax relief?
Tax relief is widely expected, though final decisions will be known only after the announcement.
Does the budget impact long-term investments?
Yes, structural reforms and capex priorities outlined in the budget influence long-term market trends.
Which sectors should investors track post-budget?
Infrastructure, manufacturing, agriculture, consumption, and technology-linked sectors are key areas to watch.
Budget 2026-27 is expected to reinforce India’s growth narrative while addressing current economic challenges. Investors who focus on long-term fundamentals rather than short-term reactions are better positioned to benefit.
With strong research capabilities, technology-enabled investing, and reliable customer support, Swastika Investmart helps investors stay prepared during key policy events.
👉 Start investing today:
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Every year, a few days before the Union Budget is presented in Parliament, the Ministry of Finance hosts a quiet yet meaningful ritual called the Halwa Ceremony.
In simple terms, this ceremony marks the point where the Union Budget preparation enters its final and most confidential phase. A traditional Indian sweet dish, halwa, is prepared in a large vessel inside North Block and served to officials involved in drafting the Budget.
For Union Budget 2026, the Halwa Ceremony once again signaled that policy decisions, numbers, and allocations had been locked in.
This blend of tradition and governance is uniquely Indian and continues to hold administrative importance beyond symbolism.
The Halwa Ceremony is not a photo-op or formality. It indicates that months of consultations with ministries, regulators, industry bodies, and economists have concluded.
Once this ceremony is completed, no major changes are made to Budget proposals unless absolutely necessary.
Immediately after the Halwa Ceremony, a select group of finance ministry officials enters a strict lock-in period. These officials stay within the secure premises of North Block until Budget Day.
This system ensures that sensitive tax proposals, fiscal deficit numbers, and sector-wise allocations do not leak before the official announcement.
For traders and market participants, this is when speculation peaks and official clarity becomes just days away.
In Indian tradition, beginning an important task with something sweet is believed to bring positive outcomes. The Halwa Ceremony reflects this belief while also acknowledging the hard work of hundreds of officials who work behind the scenes.
Serving halwa to everyone involved also symbolizes equality and collective responsibility, values deeply embedded in India’s administrative culture.
Despite rapid digitisation and modern governance practices, this ceremony continues as a reminder that policymaking is as much about people as it is about numbers.
The Halwa Ceremony has been part of India’s Budget process for decades. Earlier, Budget documents were printed at Rashtrapati Bhavan. Later, the printing shifted permanently to the North Block basement, where the ceremony is still held today.
Even as Budget presentations moved from evening to morning and from briefcases to tablets, the Halwa Ceremony has remained unchanged.
This continuity gives confidence to markets that institutional processes remain stable despite economic cycles.
The ceremony itself does not move markets. No data or announcements are released during the event.
However, it plays an indirect role by marking the final stretch before policy clarity.
For active traders and investors, the period after the Halwa Ceremony is crucial:
By the time the Halwa Ceremony is done, most institutional players position themselves based on expectations rather than assumptions.
This is where disciplined research and risk management matter the most.
Union Budget 2026 is closely watched due to ongoing global uncertainties, inflation control measures, and India’s growth targets.
Key regulatory stakeholders involved include:
The Halwa Ceremony confirms that coordination between these institutions has reached closure for the financial year ahead.
Experienced traders and investors do not wait for Budget Day alone. They use this period to:
Platforms that provide reliable research, timely insights, and risk-management tools offer a clear edge during such high-anticipation phases.
In volatile pre-Budget phases like Union Budget 2026, execution quality and research depth matter.
Swastika Investmart stands out due to:
Rather than reacting emotionally to Budget speculation, Swastika empowers traders to approach markets with discipline and data.
Is the Halwa Ceremony mandatory for every Union Budget?
Yes, it has become an established administrative tradition followed every year before the Budget presentation.
Does the Halwa Ceremony reveal Budget details?
No. It only marks the start of the confidential lock-in period. No policy details are shared publicly.
Where is the Halwa Ceremony held?
It is held inside the North Block, New Delhi, where the Ministry of Finance is located.
Why is secrecy so important after the ceremony?
Budget leaks can cause market manipulation, speculation, and unfair advantage, which is why strict controls are enforced.
The Halwa Ceremony ahead of Union Budget 2026 may look ceremonial, but it represents the final checkpoint before one of India’s most important financial announcements.
For traders and investors, this phase is about preparation, not prediction.
If you want to navigate Budget-driven volatility with confidence, access reliable research, and trade on a tech-enabled platform backed by experience, now is the right time to act.
👉 Open your trading account with Swastika Investmart today
Smart preparation always beats last-minute reactions.
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Every year, the Union Budget sets the economic tone for India. The Union Budget 2026, presented on 1 February 2026, is especially significant as India balances fiscal discipline with growth ambitions in a rapidly evolving global economy.
For retail investors, traders, and long-term wealth creators, understanding the Budget is not about memorising numbers. It is about interpreting intent, direction, and opportunities. This blog breaks down the key expectations, sectoral impact, and how Indian markets typically react, in a practical and investor-friendly manner.
India enters 2026 with stable macro indicators but rising global uncertainties. Inflation moderation, strong domestic consumption, and improving corporate balance sheets provide a supportive backdrop.
However, challenges remain:
The Union Budget becomes a balancing act between growth support and fiscal responsibility, both closely watched by markets and regulators like SEBI and RBI.
The government is expected to continue its glide path towards fiscal consolidation while maintaining strong capital expenditure. Market participants closely track fiscal deficit numbers because they influence bond yields, liquidity, and equity valuations.
A controlled deficit signals stability and builds confidence among domestic and foreign investors.
Infrastructure remains a core theme. Roads, railways, urban development, and logistics are expected to receive sustained allocations.
Market impact example:
Historically, sectors like cement, capital goods, engineering, and PSU banks have reacted positively to higher capex announcements, as they benefit directly from project execution and credit growth.
The manufacturing ecosystem continues to be strengthened through policy support. Production-linked incentives, electronics manufacturing, defence, and renewable energy are likely focus areas.
For investors, this reinforces India’s long-term manufacturing story and supports sectors aligned with domestic production and exports.
India’s digital public infrastructure has gained global recognition. Union Budget 2026 is expected to deepen investments in AI, fintech innovation, and digital skilling.
Real-world relevance:
Fintech penetration, algorithmic trading, and tech-enabled investing platforms have already transformed how Indian investors participate in markets. Policy support further strengthens this ecosystem.
Large tax overhauls are unlikely, but incremental rationalisation is expected. Markets usually prefer predictability over sudden changes.
Possible focus areas include:
For retail investors, clarity in taxation improves confidence and long-term planning.
Budget Day volatility is normal. Markets often react in three phases:
For example, even if the index shows limited movement, individual stocks and sectors can see meaningful trends emerge post Budget.
Experienced investors focus less on day-one moves and more on medium-term opportunities aligned with policy direction.
Short-term volatility does not always reflect long-term value. Emotional trading around Budget speeches often leads to poor outcomes.
Sectors aligned with recurring government priorities tend to benefit over multiple years, not just one Budget.
Budget interpretation requires context, numbers, and historical understanding. This is where strong research-backed platforms add value.
At Swastika Investmart, investors benefit from SEBI-registered expertise, structured research tools, and timely insights that help decode such macro events without confusion.
SEBI continues to strengthen transparency, risk disclosures, and investor education. The Union Budget often complements this by supporting financial inclusion, digital investing, and awareness initiatives.
For investors, this means a safer, more structured environment to participate in capital markets.
Budgets do not create wealth overnight. They create frameworks. Investors who align portfolios with long-term economic direction often benefit more than those chasing short-term reactions.
Having access to reliable research, responsive customer support, and tech-enabled platforms becomes crucial in such phases.
Budgets generally create sector-specific opportunities rather than broad-based rallies. Long-term impact depends on execution and global conditions.
Infrastructure, manufacturing, capital goods, technology, and select financials are likely to remain in focus.
Trading on Budget Day is risky due to volatility. Informed investors usually wait for clarity and confirmation.
Yes. Policy direction influences earnings growth, sector leadership, and capital allocation over time.
By relying on research-driven insights, understanding macro trends, and avoiding impulsive decisions.
Union Budget 2026 reinforces India’s long-term growth narrative while maintaining fiscal prudence. For investors, the real opportunity lies not in reacting fast, but in aligning smartly.
Platforms like Swastika Investmart help investors navigate such events with confidence through SEBI-registered research, advanced tools, strong customer support, and a focus on investor education.
If you are looking to invest with clarity and discipline, now is a good time to get started.
The Indian Rupee slipping to 90.44 against the US dollar has once again brought currency volatility into sharp focus. While a 10 paise move may appear modest on the surface, it reflects deeper global and domestic undercurrents that investors cannot afford to ignore.
Currency movements influence everything from foreign investment flows to inflation, corporate earnings, and equity market sentiment. For Indian investors, understanding what is driving the rupee lower is just as important as tracking stock indices.
The latest fall in the Indian Rupee is not the result of a single trigger. Instead, it is a combination of global monetary trends, geopolitical risks, and domestic demand for dollars.
One of the biggest factors weighing on the rupee is the persistent strength of the US dollar. Expectations of higher interest rates in the United States and a resilient US economy have pushed global investors toward dollar assets.
When global funds move into dollar-denominated instruments, emerging market currencies like the rupee tend to weaken. This trend has played out repeatedly during periods of global uncertainty.
India is heavily dependent on crude oil imports. Any uptick in oil prices increases dollar demand from oil marketing companies, putting direct pressure on the rupee.
For example, when crude prices rise sharply, Indian refiners need more dollars to settle import bills. This demand-supply imbalance often reflects immediately in the currency market.
Heightened geopolitical tensions and uneven global growth have increased risk aversion among foreign investors. In such phases, funds typically move away from emerging markets toward safer assets.
This shift results in capital outflows, which weaken the rupee further in the short term.
While global forces play a dominant role, domestic dynamics also influence the rupee’s trajectory.
Foreign Institutional Investors closely track currency stability when allocating capital. Even modest rupee weakness can prompt cautious positioning, especially in debt markets.
Periods of sustained FPI outflows tend to coincide with pressure on the rupee, creating a feedback loop between equities, bonds, and the currency market.
India’s trade deficit widens when import growth outpaces exports. Higher imports of oil, electronics, and capital goods increase dollar demand, impacting the rupee.
Although exports benefit from a weaker currency, the overall effect depends on global demand conditions.
A weaker rupee can make imports costlier, especially fuel and commodities. This raises concerns about imported inflation, which the Reserve Bank of India closely monitors while setting monetary policy.
Currency movements do not affect all sectors equally. Some benefit, while others face margin pressure.
IT services, pharmaceuticals, and specialty chemical exporters typically benefit from rupee depreciation. Their revenues are largely dollar-linked, while costs are mostly rupee-based.
For instance, a weaker rupee often supports earnings visibility for IT majors, improving market sentiment around the sector.
Aviation, oil marketing companies, and capital goods manufacturers that rely on imported components tend to see margin stress when the rupee weakens.
This is why currency movements are closely tracked by sector analysts and equity investors.
While short-term rupee weakness can unsettle markets, its impact depends on whether the move is orderly or abrupt. Gradual depreciation is usually absorbed by markets, while sharp swings can trigger volatility.
The Reserve Bank of India does not target a specific exchange rate but focuses on preventing excessive volatility.
Using its forex reserves, the RBI intervenes in the currency market when movements become disruptive. India’s healthy reserve position provides confidence that sharp, disorderly moves can be managed effectively.
At the same time, the central bank balances currency stability with broader goals like growth, inflation control, and financial stability.
For retail investors, currency volatility should not trigger knee-jerk reactions. Instead, it offers an opportunity to review portfolio positioning.
Diversification across sectors, exposure to export-oriented companies, and a long-term investment horizon help navigate currency-driven volatility.
This is where platforms like Swastika Investmart, a SEBI-registered market participant, add value through research-backed insights, sector analysis, and investor education. Having access to timely market intelligence helps investors make informed decisions rather than emotional ones.
Why did the Indian Rupee fall to 90.44 against the dollar?
The fall was driven by a strong US dollar, rising crude oil prices, and cautious global investor sentiment.
Does a weaker rupee always hurt the stock market?
Not necessarily. Export-oriented sectors often benefit, while import-heavy sectors may face pressure.
Will RBI intervene if the rupee weakens further?
The RBI typically intervenes to manage excessive volatility, not to defend a specific level.
How does rupee depreciation affect inflation?
A weaker rupee can increase import costs, especially for fuel, which may contribute to imported inflation.
The Indian Rupee sliding to 90.44 against the US dollar reflects a complex mix of global and domestic factors rather than a single economic weakness. While currency pressure creates challenges, it also reshapes sector dynamics and investment opportunities.
For investors, staying informed and focused on fundamentals is crucial during such phases. With its SEBI registration, strong research tools, responsive customer support, and emphasis on investor education, Swastika Investmart helps investors navigate currency-driven market volatility with confidence.
The Indian primary market continues to attract attention as new-age, technology-driven companies line up for listing. Among them, the upcoming Shadowfax IPO has generated interest due to its strong presence in last-mile logistics and e-commerce delivery.
Shadowfax Technologies Limited operates at the intersection of logistics, technology, and India’s booming digital commerce ecosystem. While revenue growth has been impressive, margin sustainability and customer concentration remain key questions for retail investors.
Before applying, it is important to understand the business model, financial health, valuation, and risks involved.
Shadowfax Technologies Limited is a technology-led third-party logistics company enabling end-to-end delivery solutions across India. The company serves major e-commerce marketplaces, quick commerce platforms, food delivery companies, and on-demand mobility players
• Express parcel delivery
• Reverse logistics
• Hyperlocal and quick commerce deliveries
• Mobility and on-demand logistics
Shadowfax follows an asset-light platform model, relying on a flexible gig workforce supported by proprietary technology for routing, partner management, address intelligence, and security controls.
The company currently covers more than 14,700 pin codes, making it one of the widest delivery networks in India.
• Issue opens on January 20, 2026
• Issue closes on January 22, 2026
• Price band set at ₹118 to ₹124 per share
• Market lot size of 120 shares
• Face value of ₹10 per share
• Listing proposed on BSE and NSE
• Total IPO size of ₹1,907 crore
• Fresh issue of ₹1,000 crore
• Offer for Sale of ₹907 crore
The post-issue market capitalization is estimated at around ₹7,168 crore at the upper price band
• QIB portion: 75 percent
• NII portion: 15 percent
• Retail portion: 10 percent
Funds raised from the fresh issue will be used primarily for growth-oriented initiatives, including:
• Network expansion and logistics infrastructure
• Lease payments for first-mile, last-mile, and sorting centers
• Branding, marketing, and strategic growth initiatives
• General corporate purposes
This reflects the company’s focus on scaling operations and strengthening delivery capabilities across India
Shadowfax has demonstrated strong revenue momentum, supported by India’s e-commerce and quick commerce expansion. Importantly, FY25 marked a turnaround into profitability, though margins remain modest
Net worth improved sharply to ₹660.43 crore in FY25, reflecting improved balance sheet strength.
At the upper price band, Shadowfax is valued at a Price to Sales multiple of around 2.8 times, which is higher than Delhivery, a listed peer in the logistics space
While the company has no direct listed peer with an identical business model, comparison with established players shows that Shadowfax is still at an early stage in terms of margin maturity.
This premium valuation means much of the future growth is already priced in, making execution critical post-listing.
• Asset-light, scalable logistics platform
• Strong presence in high-growth segments like e-commerce and quick commerce
• Nationwide network covering over 14,700 pin codes
• Proprietary technology improving efficiency and partner management
• Long-standing relationships with large enterprise clients
Despite the positives, the Shadowfax IPO carries notable risks:
• High revenue dependence on a limited number of clients such as Flipkart and Meesho
• Thin profit margins and evolving profitability visibility
• Heavy reliance on third-party delivery partners
• Exposure to seasonal demand fluctuations
• Intense competition in the last-mile logistics space
Retail investors should carefully review these risks in the Red Herring Prospectus before applying
The Shadowfax IPO is best viewed as a long-term, high-risk investment rather than a short-term listing play.
Investors with a higher risk appetite who believe in India’s logistics and e-commerce growth story may consider applying with a long-term horizon. Conservative investors may prefer to wait for post-listing price discovery and margin stability.
Having access to strong research, risk analysis, and post-listing tracking becomes crucial in such IPOs.
Is Shadowfax a profitable company?
Shadowfax reported a net profit of ₹6.06 crore in FY25, marking its first profitable year after losses in previous years
What is the price band for the Shadowfax IPO?
The IPO is priced between ₹118 and ₹124 per share.
Who are the major clients of Shadowfax?
The company derives a significant portion of revenue from large clients such as Flipkart and Meesho.
Is the IPO suitable for short-term listing gains?
Given the premium valuation and evolving margins, listing gains are uncertain. The IPO suits long-term investors with higher risk tolerance.
The upcoming Shadowfax IPO offers exposure to India’s fast-growing last-mile logistics ecosystem. While revenue growth and scale are encouraging, profitability and client concentration remain areas to watch closely.
Retail investors should assess their risk appetite carefully and rely on quality research before making a decision. Platforms like Swastika Investmart, a SEBI-registered market participant, offer robust IPO analysis, advanced research tools, and strong investor education support to help investors navigate such opportunities with clarity.
As the December quarter earnings season gathers pace, Q3 results preview for Federal Bank, Polycab, Reliance & IT stocks has become a key talking point for Dalal Street. On January 16, 2026, several heavyweight companies across banking, IT, infrastructure, capital goods, and consumer-facing sectors are set to announce their Q3 numbers.
For investors, this earnings lineup is important not just because of the size of these companies, but also due to what their results can reveal about India’s economic momentum, consumption trends, credit growth, and global demand conditions.
Let us break down what the market is watching and why these results matter.
The October to December quarter is one of the most important periods for Indian companies. It captures festive season demand, year-end corporate spending, and global macro shifts.
From a regulatory standpoint, SEBI-mandated quarterly disclosures ensure transparency and help investors assess whether companies are meeting guidance and managing risks effectively. Q3 results often set the tone for full-year expectations and influence fund flows in the early months of the new calendar year.
Federal Bank is among the most closely watched banking stocks today. Investors will focus on net interest income growth, loan book expansion, and asset quality trends. With competition intensifying among private and PSU banks, margins and cost control will be critical.
Market participants will also track deposit growth, CASA ratio, and provisioning levels to assess balance sheet strength.
Central Bank of India’s results will provide cues on PSU bank recovery and credit discipline. L&T Finance, on the other hand, will be tracked for retail loan growth, asset quality, and collection efficiency, especially in the NBFC space.
Reliance Industries’ Q3 results often act as a sentiment driver for the broader market. Investors will closely monitor performance across its key segments:
Given Reliance’s weight in benchmark indices, any earnings surprise can influence Nifty and Sensex movements.
The IT sector remains sensitive to global economic cues, particularly from the US and Europe. Wipro and Tech Mahindra results will be analyzed for revenue growth, deal wins, client commentary, and margin outlook.
Investors will also watch how companies are managing employee costs and regulatory changes, including compliance-related expenses.
Tata Technologies’ numbers will offer insight into engineering services demand, especially from the automotive and manufacturing segments.
Polycab India’s Q3 results are expected to reflect infrastructure spending, housing demand, and government capex momentum. Cable and wire demand often mirrors construction and power sector activity, making Polycab an important indicator stock.
JSW Infrastructure’s performance will highlight port activity and logistics demand, while Jindal Saw’s numbers will shed light on infrastructure and pipeline projects in India and overseas markets.
Companies like Sobha and Leela Palaces Hotels & Resorts will reflect trends in real estate sales and hospitality demand. Strong occupancy rates and higher realizations could signal continued recovery in discretionary spending.
Consumer and specialty chemical names such as Himadri Speciality Chemical and Bajaj Healthcare will be tracked for margin stability and input cost trends.
Earnings-driven sessions often see stock-specific volatility rather than broad-based moves. A strong set of results can trigger short-term rallies, while misses may lead to sharp corrections.
For retail investors, this is where disciplined research and timely insights matter. SEBI-registered platforms like Swastika Investmart help investors interpret earnings data through fundamental research, technical analysis tools, and expert market commentary, enabling informed decision-making rather than reactive trading.
Instead of reacting to headline numbers, investors should focus on:
This approach aligns well with long-term wealth creation rather than short-term speculation.
Why are Q3 results important for investors?
Q3 results capture festive demand and business momentum, offering a clear view of full-year performance expectations.
Which stocks are announcing Q3 results today?
Key companies include Reliance Industries, Wipro, Tech Mahindra, Polycab India, Federal Bank, L&T Finance, Tata Technologies, and others.
How do Q3 results impact stock prices?
Strong earnings can boost stock prices, while weak results may trigger corrections, depending on market expectations.
Should retail investors trade based on Q3 results?
Earnings can create volatility. Investors should rely on research, risk management, and long-term strategy rather than impulsive trades.
The Q3 results preview for Federal Bank, Polycab, Reliance & IT stocks highlights how diverse sectors are navigating economic shifts, regulatory changes, and evolving demand patterns. While some companies may deliver strong numbers, others could face margin or growth pressures.
For investors looking to track earnings, analyze data, and act with confidence, Swastika Investmart offers a robust ecosystem with SEBI registration, advanced research tools, responsive customer support, and continuous investor education.
If you want to stay ahead of earnings-driven market moves, now is a good time to get started.
India’s Q3 FY26 earnings season has delivered a mixed yet insightful picture of corporate performance. While revenue growth remains resilient across sectors like IT services, financials, asset management, pharma, and real estate, profitability trends reflect cost pressures, regulatory impacts, and changing market dynamics.
From Infosys and L&T Technology Services facing labour code-related headwinds to strong growth in asset management and NBFC businesses, the Q3 FY26 results offer important cues for investors positioning their portfolios in 2026.
The IT services sector showed resilience in topline growth, supported by steady deal wins and digital transformation demand. However, profitability came under pressure.
Infosys reported a 2.2 percent year-on-year decline in net profit at ₹6,654 crore. This came despite an 8.9 percent rise in rupee revenue to ₹45,479 crore. In dollar terms, revenue increased 3.2 percent to $5,099 million.
A key factor impacting profitability was a labour code-related cost of ₹1,289 crore. This highlights how regulatory changes in India are reshaping cost structures for large IT employers. For investors, this reinforces the importance of tracking margin sustainability, not just revenue growth.
L&T Technology Services also reflected similar trends. Net profit declined 6.1 percent to ₹302.6 crore, while revenue grew 10.2 percent to ₹2,923.5 crore. The company reported a labour code impact of ₹35.4 crore during the quarter.
The broader takeaway from IT Q3 FY26 results is clear: growth continues, but margins will remain sensitive to wage costs, compliance expenses, and client spending patterns.
Financial stocks emerged as relative outperformers this quarter, driven by rising assets under management, strong loan growth, and higher investor participation.
Jio Financial Services reported an 8.75 percent decline in net profit to ₹268.98 crore. However, total income surged 10.7 percent to ₹901.05 crore. The standout metric was NBFC assets under management, which jumped 4.5 times year-on-year to ₹19,049 crore.
This reflects early-stage investment in scaling the lending and financial services platform. For long-term investors, AUM growth often precedes profitability expansion.
ICICI Prudential AMC delivered one of the strongest Q3 FY26 performances. Net profit surged 45.1 percent to ₹917.1 crore, while revenue rose 23.5 percent to ₹1,514.7 crore. The company also announced an interim dividend of ₹14.85 per share.
Rising equity market participation, SIP inflows, and mutual fund penetration continue to support asset management companies in India.
360 ONE WAM reported a 20.3 percent rise in net profit to ₹331 crore, with revenue jumping 33.2 percent to ₹806 crore. Strong client additions and market-linked income drove growth.
HDB Financial Services posted a healthy 36.3 percent jump in net profit to ₹643.9 crore. Revenue increased 22 percent to ₹2,285 crore, reflecting strong retail lending demand.
Angel One reported a 4.5 percent decline in net profit at ₹268.7 crore, while revenue grew 5.8 percent to ₹1,334.9 crore. The board approved a 1:10 stock split and declared an interim dividend of ₹23 per share.
The results indicate rising operational costs even as client activity remains stable. Corporate actions like stock splits often aim to improve liquidity and retail participation.
Biocon successfully raised ₹4,150 crore through a Qualified Institutions Placement. The funds will be used to pay cash consideration to Viatris for acquiring its stake in Biocon Biologics.
Such capital allocation strengthens balance sheets and supports long-term growth in biosimilars and global markets.
Dr Reddy’s launched an over-the-counter version of Olopatadine Hydrochloride Ophthalmic Solution in the US after USFDA approval. This move expands the company’s consumer healthcare presence in regulated markets.
Kolte-Patil recorded a sales value of ₹605 crore and collections of ₹709 crore, its highest-ever quarterly collections. For the nine months ended December 2025, both sales and collections reached record levels.
The data reflects sustained housing demand in key urban markets.
Transrail Lighting secured new orders worth ₹527 crore during the quarter. Total FY26 order inflows now stand at ₹5,637 crore, improving revenue visibility for upcoming quarters.
South Indian Bank reported a 9.5 percent rise in net profit to ₹374.3 crore. Net interest income grew marginally, while provisions increased 21.8 percent, indicating a cautious approach to asset quality.
The Q3 FY26 earnings season highlights a clear shift toward stock-specific opportunities rather than broad sector rallies. Regulatory costs, margin discipline, and capital efficiency are becoming as important as growth numbers.
For investors, tracking quality balance sheets, sustainable cash flows, and management commentary is crucial.
Platforms like Swastika Investmart, a SEBI-registered research and broking firm, support investors with in-depth research, advanced trading tools, and continuous investor education. Such insights help navigate earnings-driven volatility with confidence.
What is the overall trend in Q3 FY26 results?
Revenue growth remains steady, but profitability is mixed due to cost pressures and regulatory impacts.
Which sectors performed best in Q3 FY26?
Asset management, wealth management, NBFCs, real estate, and select infrastructure companies showed strong performance.
How did labour codes impact IT companies?
Labour code compliance increased costs for companies like Infosys and L&T Technology Services, affecting margins.
Are Q3 results important for long-term investors?
Yes. They provide insight into business sustainability, cost structures, and growth visibility.
Q3 FY26 results reinforce the importance of disciplined investing in a market shaped by regulation, costs, and evolving demand. While some sectors face short-term pressure, others continue to build long-term value through scale and efficiency.
For investors seeking structured research, reliable execution, and technology-enabled investing, Swastika Investmart offers a comprehensive ecosystem backed by SEBI registration, strong analytics, and responsive customer support.
Take the next step toward informed investing.
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