Hindalco Industries reported a record 75% year-on-year jump in June-quarter consolidated net profit to Rs 7,013 crore, driven by strong India aluminium and copper operations and a recovery at Novelis. Revenue rose 32% to an all-time high of Rs 84,825 crore, while EBITDA surged 73% to Rs 14,989 crore, reflecting robust operational performance despite exceptional expenses.
European blue-chip companies are gearing up for their most promising quarterly earnings growth in the last three years, with the energy sector and basic materials industries making significant strides. The STOXX 600 index anticipates a remarkable earnings rise of 22.4 percent, alongside an uptick in revenue projections, marking the fastest sales growth seen in sixteen quarters. This overall profit resurgence is boosting investor confidence in European markets.
SBI shares rose sharply on Friday after the lender reported a 10% year-on-year rise in Q1 FY27 standalone profit to Rs 21,121 crore, beating Street estimates. Net interest income rose 15% to Rs 46,992 crore, while total business crossed Rs 110 trillion. The stock remains 9% below its 52-week high.
Global equity funds extended their inflow streak to 11 weeks, attracting $21.15 billion in the week ended August 5. Strong corporate earnings and easing crude prices boosted risk appetite. European and Asian equity funds led regional inflows, while emerging market equities saw their strongest weekly inflows in over five months.
European stock markets edged higher on Friday, supported by gains in healthcare stocks, while rising oil prices and renewed Middle East tensions kept investors cautious ahead of the closely watched U.S. non-farm payrolls report.
JPMorgan Chase CEO Jamie Dimon believes massive capital expenditure in artificial intelligence by hyperscalers will ultimately pay off despite market anxiety. Speaking to CNBC, Dimon noted that AI infrastructure demand is driving US economic growth and GDP, though individual data centre project risks require careful case-by-case analysis.
SBI Q1 Results: The profit beat the Street estimate of Rs 19,052 crore. It was Rs 19,160 crore in the last year quarter.
Indraprastha Medical Corporation shares surged over 8.5% to Rs 392.90 following strong Q1FY27 earnings. The healthcare operator reported a 9% YoY increase in consolidated net profit to Rs 56 crore and an 11% rise in revenue to Rs 406 crore. The company also fixed September 18 as the dividend record date.
Japan carried out its largest-ever single-day currency intervention, deploying nearly $40 billion to support the yen amid sharp depreciation. Detailed data from the Ministry of Finance showed authorities intervened multiple times during the Golden Week holidays, while markets remain alert for further action as the yen weakens again.
South Korean shares swung between gains and losses on Friday as investors assessed the latest U.S. corporate earnings and remained cautious over AI-related spending. Despite recovering from early losses, the KOSPI stayed on track for a third consecutive weekly decline, while foreign investors remained net buyers.
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