Business
Titan Company shines, Britannia Industries steadies: consumer stocks back in play
Consumption trends strengthened sequentially through the quarter after temporary disruptions in October due to GST-related channel adjustments. Food categories outperformed personal care, aided by favorable tax changes and resilient demand, while staples continued to demonstrate stability. Discretionary segments showed mixed trends—jewelry witnessed strong growth despite elevated gold prices, supported by festive demand, whereas segments like innerwear and quick service restaurants (QSR) saw gradual recovery with improving channel sentiment and footfalls. Paints remained an outlier, impacted by extended monsoons and a shorter festive season, though early signs of recovery emerged toward the latter part of the quarter.
A key positive for the sector has been the stability in raw material prices, particularly for staples, which supported gross margin expansion and operating leverage. Premiumization trends, especially in discretionary categories such as alcoholic beverages, continued to drive margin improvement. QSR players also reported sequential margin expansion, aided by better store-level economics and improving average daily sales. However, product mix challenges persisted in certain segments, highlighting uneven profitability recovery.
Cooling inflation, supportive government initiatives, and improving affordability are emerging as key catalysts for consumption recovery. Additionally, normalization in trade channels post GST adjustments and expectations of a strong summer season are likely to support demand momentum in the near term. Premiumization, formalization, and category shifts toward organized players continue to shape long-term sector dynamics.
While the sector is on a recovery path, the pace remains uneven across categories. Staples and food are expected to sustain steady growth, while discretionary segments may witness a sharper rebound as demand conditions normalize further. Input cost stability and operating leverage should continue to support margins. Overall, the medium-term outlook remains constructive, driven by improving macro conditions and structural consumption drivers, although near-term performance may vary across segments.
Titan Company: Buy| Target Rs 5000
Titan delivered a blockbuster quarter, reinforcing its leadership in the organized jewelry market through strong festive traction, compelling collections, impactful brand campaigns, and effective exchange schemes. Continued store expansion and scaling non-jewelry segments further strengthen its competitive moat and sustain growth momentum across categories. In 3QFY26, consolidated revenue rose 43% YoY, with standalone jewelry (ex-bullion) up 40%. Studded growth moderated, impacting mix, while EBIT margin contracted 60bp to 10.6% despite healthy 32% EBIT growth. Watches and eye care posted steady gains, reflecting broad-based demand resilience. We remain constructive, underpinned by Titan’s superior sourcing, studded strategy, youth focus, and reinvestment intensity, which preserve brand strength and pricing power. We model 23%/25%/27% CAGR in sales/EBITDA/APAT over FY25-28E.
Britannia Industries: Buy| Target Rs 7150
Britannia Industries reported a solid 3QFY26 performance, posting 9.5% YoY revenue growth despite GST-led disruptions in October, with momentum recovering to ~12% sales growth in Nov–Dec, driving 22% EBITDA growth and an 18% rise in PBT on strong biscuit and adjacent category traction. With 60–65% of its portfolio in INR5/INR10 LUP packs, Britannia is well positioned to benefit from the GST rate revision, supporting volume growth. Stable raw material costs and a sharper distribution focus further strengthen its competitive positioning. Looking ahead, earnings visibility remains strong, supported by improving consumption trends, distribution expansion, product innovation, and continued brand investments under the new CEO. We model a 12% revenue CAGR and 14% PAT CAGR over FY26–28E, indicating sustained growth momentum.
(The author is Siddhartha Khemka, Head of Research – Wealth Management, Motilal Oswal Financial Services)
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
Business
China Moves to Tame Yuan Rally by Slashing Shorting Costs
China’s central bank has started taking steps to check the yuan’s recent advance, dusting off an old playbook that would reduce the cost of betting against the currency.
The People’s Bank of China announced it would slash the risk reserve requirement ratio for financial institutions conducting foreign-exchange forward trading to zero from 20%, a move that effectively makes purchasing the dollar cheaper.
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Business
Trump says US carrying out ’major combat operations’ in Iran

Trump says US carrying out ’major combat operations’ in Iran
Business
JPMorgan upgrades Coles Group stock rating on valuation gap

JPMorgan upgrades Coles Group stock rating on valuation gap
Business
Shipping Corporation fined: NSE, BSE impose Rs 5.42 lakh penalty each for Sebi norm violation
The Navratna PSU informed about the development via a filing to the exchanges on Saturday. It said that the action will not have any significant impact on the company’s financial, operational, or other activities.
On Friday, February 27, 2026, the company received an email from BSE and a notice from the National Stock Exchange levying a total fine of Rs 5,42,800, each for non-compliance with Regulation 17(1) of Sebi Listing Regulations regarding the composition of the Board of Directors.
Shares of Shipping Corporation ended 1.8% lower on the NSE at Rs 263.47.
SCI operates oil tankers and product carriers that move crude oil from overseas suppliers to Indian refineries, making it strategically important for energy security. Its stock has rewarded investors with returns of 76% in the past 12 months, significantly outperforming the Indian benchmarks Nifty and the BSE Sensex, whose returns in the same period stand at 12% and 9%, respectively, according to Trendlyne.
The stock is currently trading above its 50-day and 200-day simple moving averages of Rs 233 and Rs 226, respectively, the Trendlyne data said.
The company reported a staggering 440% jump in net profit for the third quarter of FY26. Net profit for the quarter rose to Rs 405 crore, sharply higher than the Rs 75.52 crore reported in the corresponding quarter last year.Revenue from operations stood at Rs 1,612 crore, marking a 22.5% increase from Rs 1,316 crore in the year-ago period, the company said in an exchange filing.
The tanker segment led the performance, with revenue rising 34% to Rs 1,097 crore, while operating profit (earnings before interest and taxes, or EBIT) surged 389% year-on-year. The bulk carrier segment also posted strong growth, with revenue climbing to Rs 237.51 crore from Rs 147 crore in the corresponding quarter of the previous financial year.
(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)
Business
Bybit Introduces Fixed-Rate UTA Loans Offering Up to 10x Leverage and Up to 180-Day Borrowing

Bybit Introduces Fixed-Rate UTA Loans Offering Up to 10x Leverage and Up to 180-Day Borrowing
Business
Bharat Electronics announces record date for interim dividend of Rs 1.95 per share
The record date of a dividend is the cut-off date set by a company to determine which shareholders are eligible to receive the declared dividend.
BEL dividend history / dividend yield
The PSU company has declared 51 dividends since August 29, 2003. In the past 12 months, Bharat Electronics has declared an equity dividend amounting to ₹2.40 per share, according to Trendlyne. At the current share price of Rs 444.70, Bharat Electronics’s dividend yield is 0.54%.
BEL share price performance
BEL shares ended at Rs 444.70 on the NSE on Friday, declining by 4.35 or 1% over the Thursday closing price.
The Nifty stock has had a stellar run on the D-Street, delivering 74% returns in the past 12 months. It is the second best performer n the frontline index and only behind Shriram Finace whose returns of 78%, remain ahead.
Meanwhile, Nifty and the BSE Sensex have yielded 12% and 9% in the same period.BEL shares are currently trading above their 50-day and 200-day simple moving averages of Rs 422 and Rs 405, respectively, according to Trendlyne.
The defence electronics major reported a decent set of numbers for the December quarter. The company’s consolidated net profit rose to Rs 1,580 crore, compared with Rs 1,312 crore in the same period last year. This translates into a year-on-year (YoY) growth of 21%. Revenue from operations for the quarter rose 24% YoY to Rs 7,154 crore.
Sequentially, profit was higher than the Rs 1,287 crore reported in the September quarter. Compared with the previous quarter, revenue also rose from Rs 5,946 crore.
Including other income of Rs 139 crore, BEL’s total income for the quarter came in at Rs 7,292 crore, compared with Rs 5,957 crore in the year-ago period.
(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)
Business
Melrose Industries Stock: Sell-Off Looks Overdone After Strong Results (MLSPF)
Dhierin-Perkash Bechai is an aerospace, defense and airline analyst.
Dhierin runs the investing group The Aerospace Forum, whose goal is to discover investment opportunities in the aerospace, defense and airline industry. With a background in aerospace engineering, he provides analysis of a complex industry with significant growth prospects, and offers context to developments as they occur, describing how they might affect investment theses. His investing ideas are driven by data informed analysis. The investing group also provides direct access to data analytics monitors.
Learn more.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Business
Crypto trend-following trade finds relief after sharp selloff
Digital-asset investment firm XBTO’s trend fund rose 13.3% last month, its second-best since launching in February 2024, as Bitcoin fell more than 10% and Ether dropped 18%. The gain was driven by a timely flip to short positions as crypto markets broke lower in the final week of January, with more than seven percentage points of the return coming in those last few days, according to Karl Naim, the firm’s chief commercial officer.
One month doesn’t change a challenging trading landscape. But for a strategy that struggled last year, recent gains offer a well needed boost — and a reminder that trend-following can still pay when markets finally pick a direction.
BloombergBitcoin peaked near $126,000 in early October and has since fallen sharply, with the broader crypto market losing $2 trillion in crypto market value along the way, according to CoinGecko. Trend models that rode momentum higher got whipsawed by the fast reversal. The fund lost money in five of the previous six months and finished 2025 down 7.8%. Industry-wide, quant trend funds returned 0.44% last year, down from 65% in 2024, according to Crypto Insights Group. Market-neutral strategies, which don’t rely on directional bets, gained 14.7%.
Those that caught the downturn, though, are now benefiting.
“We have been net short in February, have taken some risk off the table, and continue to see potential downside pressure on Bitcoin,” Naim said.
XBTO’s trend fund trades crypto perpetual futures and focuses on the most liquid tokens, typically the top-50 by market value. Perpetual futures are derivatives that track an asset’s price without an expiry date. Positions are driven by a systematic momentum model that scans market and blockchain data.
XBTO was founded in 2015 by Philippe Bekhazi, a former SAC Capital trader, and is regulated in Bermuda and Abu Dhabi.
Trend-following is a well-established strategy in traditional markets, where large quant firms manage billions of dollars. In crypto, the approach can win big in one-way markets like in 2021, 2023 and 2024. But it remains largely unproven at scale — funds are far smaller, track records are short, and the market’s tendency toward sudden, violent reversals makes sustained momentum difficult to capture.
XBTO manages about $100 million across its funds and is targeting to raise another $100 million this year.
Business
Israel and US launch strikes on Iran

Israel and US launch strikes on Iran
Business
U.S. Earnings Season Ends On Strong Note
U.S. Earnings Season Ends On Strong Note
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