Midcap companies emerged as the strongest performers in the March quarter earnings season, with profit growth outpacing both largecaps and smallcaps, according to MOFSL. Strong contributions from BFSI, technology and utilities supported performance, while analysts cautioned that volatility linked to West Asia tensions and elevated commodity prices may persist.
Global markets, led by tech stocks, have reached record highs fueled by AI enthusiasm. Investor Paul Tudor Jones likens AI's current stage to Microsoft's early dominance and the internet's commercialization, predicting another year or two of growth. However, he warns of a significant market downturn akin to the dot-com bubble's aftermath.
SBI Q4 Results: State Bank of India reported a 6% year-on-year rise in standalone net profit to Rs 19,684 crore for the fourth quarter, exceeding analyst expectations. The bank also declared a dividend of Rs 17.35 per share. Despite a decline in operating profit, asset quality improved with a lower Gross NPA ratio.
Titan Q4 Results: Titan Company reported a robust 35% growth in net profit for Q4FY26, reaching Rs 1,179 crore, driven by a strong performance in its jewellery segment. The company's total income surged by 46% to Rs 20,300 crore. Titan's Board also recommended a dividend of Rs 15 per equity share.
Midcap stocks are showing sharp divergence despite headline indices staying resilient. Several names have corrected 35 to 50 percent from their 52-week highs, signalling underlying weakness. The list highlights key laggards across sectors, even as the Nifty Midcap 150 hovers near record levels, indicating selective pressure in the broader market.
India's valuation gap with Asian peers persists due to declining earnings estimates across all sectors, a stark contrast to Korea and Taiwan where surging EPS forecasts have made rallies cheaper. Veteran investor Manishi Raychaudhuri highlights this as the market's biggest problem, warning of potential geopolitical risks impacting North Asian earnings.
Technology investor SoftBank Group fell 4.56% to drag the Nikkei lower the most after the U.S.-listed shares of Arm Holdings tumbled overnight on smartphone market weakness and AI chip supply concerns.
Vikram Solar shares fell sharply on Friday as Q4 margins contracted sharply, even though profit rose 21% year-on-year. Revenue grew 22% and EBITDA improved modestly, but a 300-bps margin decline weighed on sentiment. Despite strong FY26 growth, near-term cost pressures from China’s policy changes could affect pricing.
MF Performance
Major Indices
