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Shares of TVS Motor Company climbed as much as 3.03% to Rs 3,494 during Thursday’s trading session after the company reported its highest-ever quarterly sales of 16.31 lakh units for the first quarter of FY2026-27, driven by robust demand across domestic, export, and electric vehicle segments.

According to the company’s regulatory filing, total two-wheeler sales surged 27% to 15.64 lakh units in Q1 FY2026-27 from 12.32 lakh units in the corresponding quarter last year. Three-wheeler sales jumped 48% to 0.67 lakh units, while the overall international business grew 33% to 4.68 lakh units, highlighting strong momentum in export markets.

June sales deliver strong growth

TVS Motor Company reported a 47% year-on-year increase in total sales for June 2026, with volumes rising to 590,003 units from 402,001 units in the same month last year.
Total two-wheeler sales climbed 47% to 565,417 units, compared with 385,698 units a year earlier. Domestic two-wheeler sales also grew 46% to 411,014 units from 281,012 units. Motorcycle sales rose 42% year-on-year to 267,096 units, while scooter sales surged 53% to 247,950 units.

The company’s electric two-wheeler segment recorded a sharp jump in sales, nearly tripling to 48,537 units from 14,400 units in June 2025. The sharp rise in EV volumes and sustained export growth contributed to the company’s strong monthly performance.

TVS Motor’s international business posted a 47% increase in sales to 172,355 units from 117,145 units a year ago. Overseas two-wheeler sales rose 48% to 154,403 units, compared with 104,686 units in the corresponding period last year.

Three-wheeler sales increased 51% year-on-year to 24,586 units from 16,303 units in June 2025.

Stock Performance and Technical Outlook

TVS Motor has delivered solid long-term returns, with the stock gaining around 21% over the past year and an impressive 163% over the last three years. The company currently commands a market capitalization of Rs 1.66 lakh crore, while its 52-week high stands at Rs 3,970.
From a technical perspective, the stock’s 14-day Relative Strength Index (RSI) stands at 51.6, indicating neutral momentum, as an RSI below 30 is considered oversold while above 70 is viewed as overbought.

Also read: From deep correction to fresh peaks: 10 stocks soar from 52-week lows to new highs in just three months
The stock is also trading above five of its eight key simple moving averages (SMAs), suggesting that the broader trend remains constructive despite near-term volatility.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

The U.S. Federal Reserve is unlikely to rush into changing interest rates as inflation continues to moderate and economic conditions remain balanced, according to Steve Englander from Standard Chartered Bank. Speaking to ET Now, he said the combination of strong productivity growth, easing oil prices, and subdued labour cost pressures has reduced the urgency for policy action. In his view, there are no significant imbalances in either economic activity or inflation that warrant an immediate move, allowing the Fed to monitor how structural forces shape the inflation outlook.

“Our forecast was that they would be flat in 2026… unit labour costs, which are the biggest driver of domestic price pressures, are very, very muted… With oil prices coming down… inflation risk is lower. They really do not have to do much,” he said.

Markets Push Expectations Towards Year-End
Market expectations for interest-rate moves have shifted modestly over recent days, but Englander believes these changes are largely technical rather than fundamental. He noted that while traders briefly considered an earlier rate move, expectations have once again shifted towards later in the year. He also said the positive tone struck by Fed Chair Kevin Warsh at the Sintra forum helped lift investor sentiment and supported U.S. equities.“The market was flirting with the idea of pushing the hike into July. Then they backed away from it, and now it looks more towards the end of the year… the equity market response… was largely in response to this positive tone and sense of inflation possibly being contained,” he said.

Metals Pullback Seen as a Short-Term Correction
The recent decline in gold, silver, and other metal prices should not be interpreted as a long-term trend, Englander said. He attributed the correction to investors trimming positions after an unexpected rise in real and nominal interest rates. Despite the recent weakness, he believes the broader outlook for precious metals remains favourable as supply-side pressures persist and global growth remains resilient.“The positions were cut, and we saw prices coming off. But I do not think that this is the long-term destination for metals… this is a short-term reaction, but not necessarily where metals are going in the longer term,” he said.
Yen Needs Policy Action Beyond Intervention
Commenting on the sharp depreciation of the Japanese yen, Englander said currency intervention alone is unlikely to produce lasting results. He argued that stronger monetary policy action would be far more effective than repeated intervention in the foreign exchange market. Until that happens, he expects the yen to remain under pressure as investors continue to favour the U.S. dollar.
“The most powerful intervention would be to push rates up faster than the market is expecting… intervention by itself… may not be the ticket for a durably stronger yen,” he added.

President Donald Trump on Wednesday announced that fuel prices will be lowered at select gas stations in the Philadelphia area just ahead of the Fourth of July holiday, as he boasted that oil and gas prices are dropping.

On Friday, Freedom Fuel Network will be lowering gas prices at 25 stations across the Greater Philadelphia Area, according to Trump.

“As we approach America’s 250th Birthday, I am pleased to announce that a VERY smart Retailer, located throughout the Northeast, is stepping up, and wishing the People of Philadelphia a ‘Happy Birthday!’” Trump wrote on Truth Social.

Trump said Freedom Fuel Network is “taking the lead” and urged other retailers to follow.

BESSENT WARNS GAS STATIONS ‘WE’RE WATCHING’ AS TRUMP DEMANDS IMMEDIATE PRICE CUTS

“They are doing this because they love the U.S.A. We are proud to celebrate America’s 250th Birthday in the Great Commonwealth of Pennsylvania, the Birthplace of our very special, one-of-a-kind Declaration of Independence,” he wrote.

“America has never been stronger than it is now, and Gas Prices will soon be back to the Record Low Prices Americans enjoyed at the pump before our very successful ‘excursion’ in Iran. Happy Birthday America!” the president continued.

He said that fuel prices are dipping, but not at the rate he would like to see.

“Just as I promised, Oil Prices are plummeting FAST, and Gas Prices at the pump are dropping too, but not as fast as they should be,” Trump said.

This comes after the president demanded on Monday that gasoline retailers lower their prices “IMMEDIATELY!” Last week, he threatened a federal price-gouging investigation against them.

Trump argued in his Monday post that gas prices are still “too high” despite a dip in crude oil futures to near levels seen before the recent U.S.-Israeli conflict with Iran, and urged retailers to target an average gas price of around $2.50 per gallon, which would be less than the roughly $3-per-gallon national average seen before the conflict, depending on the date and source.

“Gasoline Retailers must get their Prices down, IMMEDIATELY! They’re too high considering that Oil is now at $68 a Barrel, and heading south. The Retailers must quickly react to this statement, and do what they know is right — DROP YOUR PRICE FOR OUR GREAT AMERICAN PEOPLE! There will be no gauging, which is totally illegal. If Retailers don’t do this, big problems lie ahead!” he said on Monday.

“Start targeting around the $2.50 a Gallon number, and California should stop charging such heavy Taxes on their Gasoline. Soon the Tax will be higher than the Product itself, and the United States will not stand for it, nor will the People of California, who are being abused by these ridiculous Taxes, and by their own Government,” he added.

TRUMP ALLEGES GAS PRICE GOUGING, CALLS FOR DOJ INVESTIGATION

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California Gov. Gavin Newsom’s press office responded to Trump’s post on Monday by blaming the president for high fuel prices.

“REMINDER of what Trump said on March 12: ‘When oil prices go up, we make a lot of money,’” the governor’s press office wrote.

In another post, the press office wrote: “The GOP-enabled Iran war has now forced a growing $63 billion in extra fuel costs on Americans nationwide — that $243.14 per California household so far this year.”

The current national average for gas is $3.847 per gallon, with some states such as California exceeding $5 per gallon, according to AAA. AAA listed California’s average at $5.414 per gallon and Pennsylvania’s average at $3.986 per gallon on Wednesday.

Police in Singapore have seized a multi-million dollar luxury home that was allegedly bought using proceeds from smuggling Nvidia artificial intelligence (AI) chips.

The property last changed hands for 55 million Singapore dollars (£32m; $42.5m), with at least two-thirds of its purchase price allegedly funded by illicit earnings, authorities said on Wednesday.

The home was seized as part of a probe into the alleged illegal trade in servers containing highly sought-after advanced Nvidia chips, which are subject to US export controls.

The US Department of Justice has previously flagged Singapore as a key transit hub to conceal illegal shipments to China.

The police said an order was in place to stop the property being sold during the investigation.

Located a short walk from Singapore’s famous Botanic Gardens, the property sits in a prime district of the land-scarce city-state.

Wei Zhaolun, who is also known as Alan Wei, will be charged with money laundering for allegedly using around 38 million Singapore dollars of criminal proceeds to fund the purchase of the house, police said.

He is the chief executive of Aperia Group, which sells servers and other tech hardware to businesses. The BBC has contacted Aperia Group for comment.

Authorities have also seized around one million Singapore dollars held in bank accounts.

The police said a total of four people, including Wei, have been charged since February 2025 over fraud and other alleged crimes linked to the case.

The individuals allegedly placed orders for servers from global suppliers under the pretence that they would be used by companies they worked for.

Authorities have not said where the servers were shipped to.

The police said the servers in the case were bought from three suppliers – Dell, Super Micro Computer and Asus. The BBC has contacted the three companies for comment.

If convicted of fraud, the four, who face multiple charges, could face jail time of up to 20 years.

Singapore-based tech companies, Luxuriate Your Life and three firms under the Aperia Group, also face charges in what the police say is the first instance of corporate entities being prosecuted under these investigations.

The BBC has been unable to reach Luxuriate Your Life for comment.

The police said it holds a “zero-tolerance stance towards such offences” and will act against anyone who violates Singapore’s laws to protect the country’s integrity as a trusted global business hub.

The US and Singapore have cracked down on the illegal shipping of Nvidia chips since Washington restricted their export in 2022 over concerns that they could be used by the Chinese military.

Authorities in Singapore said in 2025 that servers containing chips under US export controls were believed to have been shipped via the island-state.

The US has since approved the sale of some of Nvidia’s semiconductors to China, under certain conditions.

SEATTLE — The United States men’s national team carries its highest momentum in a generation into Monday night’s Round of 16 clash against Belgium at Lumen Field, but Mauricio Pochettino’s side will have to navigate the elimination bracket without leading scorer Folarin Balogun, who received a controversial red card in Wednesday’s 2-0 round of 32 victory over Bosnia and Herzegovina that will keep him out of the Seattle fixture.

Kickoff is set for 8 p.m. ET, with Fox providing English-language broadcast coverage and Telemundo and Peacock carrying Spanish-language feeds for the nation’s largest sporting event in Seattle since the 2026 tournament was awarded to the United States, Canada and Mexico as co-hosts.

The American victory over Bosnia was built around Balogun’s third goal of the tournament and a strong second-half performance that validated the tactical approach Pochettino had maintained throughout the group stage. Christian Pulisic returned to the starting lineup after missing time with a calf injury sustained in the team’s tournament opener, a significant boost that reunited him with Balogun in the starting eleven for the first time with full fitness. Together they gave the American attack a dimension that had been partially constrained through the group stage’s final two matches, and the result left the United States having won their group for the first time since 2010.

But Balogun’s red card late in the Bosnia match now forces Pochettino to reorganize his attack for what could be the most important American World Cup match in a generation. Ricardo Pepi is the most likely replacement to lead the line Monday, a striker with strong club form who gives the USMNT a physical presence and the ability to hold the ball with his back to goal even if he lacks Balogun’s movement and finishing instincts.

Belgium’s path to Seattle was considerably more difficult. The Red Devils edged Senegal 3-2 in extra time in their Round of 32 match, a grueling 130-plus minutes that required Romelu Lukaku to come off the bench and provide a momentum-shifting contribution for the second consecutive game. The result advanced Belgium but raised real questions about the team’s fitness heading into Monday’s match, with an extra 30 minutes of effort on top of 90 already in their legs compared to the United States’ more controlled victory.

Belgium’s squad, widely acknowledged to be the final chapter of a golden generation that promised so much and delivered relatively little at major tournaments, features Lukaku, Kevin De Bruyne and goalkeeper Thibaut Courtois among several players expected to be making their final World Cup appearances. The group was third place in 2018 in Russia but suffered a humiliating group-stage exit at the 2022 tournament in Qatar, a failure that deepened the sense of unfulfilled potential surrounding one of Europe’s most individually talented squads of the past decade. This tournament represents a final opportunity to reverse that narrative.

The recent head-to-head record technically favors Belgium, who beat the United States 5-2 in a friendly played in March, but several American analysts and reporters covering the tournament have cautioned against reading too much into that result given the personnel changes, fitness developments and tactical adjustments that have characterized Pochettino’s side since that friendly took place. Belgium’s performances at this tournament have been uneven even by the standards of a team that reached the Round of 16, and the American camp is confident the March result does not reflect the current state of either team.

Pochettino has made a point throughout the tournament of keeping his squad deeply prepared, including the decision to rest several key players for the group-stage match against Turkey, a calculation that now pays dividends with fresher legs for Belgium, who had no such luxury in their grueling extra-time victory against Senegal. The contrast in energy levels heading into Monday’s match has been one of the more frequently cited factors in analytical breakdowns of the fixture.

Tactically, the match sets up as a clash between the United States’ aggressive, high-energy pressing style built around midfielders Tyler Adams and Weston McKennie and Belgium’s attempt to use De Bruyne’s playmaking and Lukaku’s physical presence to control tempo and find space in transition. Pochettino’s system has emphasized explosive, positional wing play from Alex Freeman on the right and Antonee Robinson on the left, with Pulisic and Sergino Dest capable of combining with Pepi through central channels in Balogun’s absence.

Experts covering the tournament for USA TODAY offered split predictions. Nancy Armour and Jim Reineking both backed the United States 2-1, with Armour noting Belgium had looked beatable throughout the tournament and Reineking citing potential tired legs for Belgium after extra time. Richard Morin predicted a more comfortable 3-1 American victory, arguing that Belgium’s vulnerabilities would be exposed even without Balogun in the lineup. Victoria Hernandez picked Belgium 2-1, suggesting Lukaku would continue providing the decisive spark that has carried the aging squad this far and that losing Balogun would prove a significant enough blow to tip the match in Europe’s favor.

The stakes are clear for both franchises. A United States victory would send the co-host nation to the World Cup quarterfinals for the first time since the 2002 tournament in South Korea and Japan, the last time the Americans advanced past the Round of 16 in a major tournament. The potential quarterfinal opponent would be the winner of Spain or Austria versus Portugal or Croatia, a prospect that would pit the United States against one of Europe’s most decorated football nations at SoFi Stadium in Inglewood, California.

For Belgium, defeat would close the book on the country’s most celebrated generation of players, ending a chapter that began with enormous promise in the late 2000s and that their supporters and football analysts alike have long agreed underperformed at successive major tournaments relative to the extraordinary individual talent the nation produced across that period.

Monday’s match in Seattle has the ingredients of one of this World Cup’s defining encounters, even if the absence of Balogun introduces a level of tactical uncertainty for the United States that the team did not face going into Wednesday’s round of 32 fixture.

KPIT Technologies came under heavy selling pressure after issuing weaker-than-expected guidance for FY27, with the stock plunging nearly 17% yesterday as investors reacted to a slower growth outlook. The company’s expectation that the second quarter will mirror the first has also dampened hopes of a quick recovery, prompting analysts to reassess earnings expectations.

Commenting on the market reaction, Kunal Bajaj from Choice Institutional Equities said, “The price reaction has been pretty aggressive today. This is on the back of the guidance for Q1 FY27, and the company has also indicated that Q2 FY27 is expected to be on similar lines as Q1.”

European OEMs Delay Spending
According to Bajaj, the slowdown stems from reduced spending by major European automakers, which are becoming more cautious after making significant investments in electric vehicles. Profitability pressures, particularly from rising Chinese competition, have led customers to delay project approvals and capital allocation.He said, “European OEMs have invested aggressively in the EV space, but profitability pressures have made them more selective in capital allocation. Order books remain healthy, but deal-to-revenue conversion is slowing as project approvals and ramp-ups get deferred.”

Growth Recovery Now Expected to Be Gradual
The weaker guidance has forced analysts to trim their revenue expectations. Bajaj noted that while the Street had anticipated a sequential decline, the company’s outlook suggests an even steeper slowdown, making a strong recovery in the second half less likely.
He said, “The company’s guidance implies around a 4.5% to 4.8% quarter-on-quarter decline, which is much lower than our estimates. We now expect FY27 to be much more gradual than we had anticipated earlier.”Margins Also Face Pressure
The slower revenue trajectory is also expected to impact profitability. Analysts have revised both revenue and EBITDA margin estimates lower, reflecting weaker operating leverage.

Bajaj said, “We have lowered our FY27 revenue estimates by around 6% and cut EBITDA margin estimates by nearly 150 basis points.”

Pressure May Extend Across the ER&D Sector
The cautious demand environment is expected to affect other engineering R&D companies with automotive exposure, including Tata Elxsi, Tata Technologies and LTTS. Although margins could remain supported by cost discipline and favourable currency movements, growth is likely to stay subdued.

According to Bajaj, “Companies with automotive exposure are expected to have subdued performance going forward. We expect FY27 to be a gradual and moderate year for the ER&D sector.”

AI Is a Positive, But Not Enough to Offset Weak Demand
While artificial intelligence is helping companies improve implementation and move towards solution-led offerings, Bajaj believes it cannot fully offset weak client spending in the near term. He expects meaningful growth to shift into the next financial year.

He said, “AI is helping in terms of implementation, but there is also a deflationary impact. Overall, we expect FY27 to remain a pressured year, with growth now deferred to FY28.”

Near-Term Recovery Remains Uncertain
Although KPIT management has expressed confidence about stronger sequential growth by the fourth quarter of FY27, Bajaj remains cautious, citing macroeconomic uncertainty and restrained customer spending.

He concluded, “Clients are still in wait-and-watch mode. We expect gradual spending rather than strong incremental spending, so H2 FY27 may not be as strong as we had expected earlier.”