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Asia
The Hindu BusinessLine

Q1 Results Today Highlights: Jindal Saw Q1 PAT tumbles, LTTS profit up 13%, Tata Elxsi profit grows 18%

Business people using pen,tablet,notebook are planning a marketing plan to improve the quality of their sales in the future. istock photo for BL | Photo Credit: Jirapong Manustrong SG Finserve Q1 net profit rises to ₹43.68 crore; board approves evaluating a stake buy in Succesship Technologies and a GIFT City finance arm. Design and technology services provider Tata Elxsi on Tuesday reported an 18.17 per cent increase in net profit to Rs 170.59 crore during the June quarter of FY27, driven by growth in key verticals and strong deal execution. The company had posted a profit of Rs 144.36 crore in the same quarter of the preceding fiscal, according to a regulatory filing. Tata Elxsi’s revenue from operations rose 14.46 per cent to Rs 1,021.1 crore in Q1 FY27, compared to Rs 892.09 crore in Q1 FY26. On a quarter-on-quarter basis, the company’s revenue grew by 2.7 per cent. However, its net profit declined by 22.58 per cent. L&T Technology Services (LTTS) on Tuesday posted around 13 per cent increase in June quarter consolidated net profit at Rs 357 crore. The company had posted a net profit of Rs 316.1 crore in June quarter FY26, a regulatory filing said. Revenue from operations increased by 11.5 per cent to Rs 2,940 crore during the quarter from Rs 2,637.5 crore a year ago. “The strategic actions undertaken as part of our Lakshya 31 agenda are beginning to translate into tangible business outcomes, reflected in healthy quarterly growth and sustained margin improvement. EBIT margins improved 200 basis points year-over-year to 15.7 per cent,” CEO and Managing Director, Amit Chadha said. - PTI Manaksia Coated Metals & Industries reported standalone net profit for the quarter ended June 2026 at Rs 14.16 crore compared to Rs 14.10 crore in the same quarter last year. Tata Elxsi shares ended 3.30% lower at Rs 3,697.30 on the NSE. Company to declare Q1 earnings today

Q1 Results Today Highlights: Jindal Saw Q1 PAT tumbles, LTTS profit up 13%, Tata Elxsi profit grows 18%
Asia
The Hindu BusinessLine

Markets stage comeback amid global sell-off, IT earnings boost

Markets defied a sharp global sell-off on Monday, staging a dramatic intraday comeback after opening deep in the red, as a robust earnings beat from the IT sector gave investors reason to buy the dip rather than flee. The Nifty 50 closed at 24,211.65, up just 4.75 points or 0.02 per cent, after recovering more than 250 points from its intraday low of 24,000.20. The BSE Sensex ended at 77,616.40, gaining 47 points or 0.06 per cent. The Nifty IT index was the session’s standout, surging 3.60 per cent, with TCS, Infosys, HCL Technologies, and Tech Mahindra among the top Nifty gainers. LTIMindtree reported a 17 per cent jump in profit and 18 per cent revenue growth over the weekend, extending the positive momentum from TCS’s recent results. With much of Asia crumbling — Seoul’s market fell 9 per cent and Tokyo dropped nearly 2 per cent following fresh US strikes on Iran and Iranian retaliations across four countries — India’s resilience stood out. “Monday’s session was more impressive than the flat close suggests... India ended flat. That is a statement,” said Sarvam Goel, Founder, Pocketful. The recovery, however, masked a difficult backdrop. Brent crude surged roughly 5 per cent to around $79.5 per barrel amid renewed fears of supply disruptions from West Asia. The US also revoked Iran’s oil export waiver, effective July 17 — a date markets will watch closely. Elevated crude weighed on the Indian rupee, which weakened 30 paise to close at 95.62 against the dollar, breaching the 96-mark intraday for the first time in 21 sessions, and emerging as the weakest performer among Asian currencies. On the sectoral front, gains were concentrated. IT, Media, and Consumer Durables outperformed, while FMCG, Metals, Cement, and Healthcare ended in the red, with FMCG the worst performer of the day. Grasim Industries and Tata Steel were among the key Nifty laggards. The broader market tracked the benchmarks — Nifty Midcap 100 edged up 0.01 per cent and Nifty Smallcap 100 gained 0.03 per cent, with both indices forming bullish candles after recovering from early lows. Notably, the Nifty Midcap 100 registered a fresh all-time high during the session. The market breadth was largely neutral, with the BSE advances-declines ratio at 1.13 and 236 stocks within the Nifty 500 universe closing in positive territory. The India VIX rose around 10 per cent, reflecting the underlying nervousness. The Q1 FY27 earnings season has so far provided some relief. “The initial batch of broader Q1 earnings has come in better than expected, suggesting that earnings downgrades for the quarter may be less severe than previously anticipated,” noted Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services. HCL Technologies was set to report results after market hours on Monday, with investor expectations high following back-to-back IT beats. The week ahead is dense with event risk. Over 140 companies are scheduled to report Q1 FY27 results, including Reliance Industries, HDFC Bank, ICICI Bank, Axis Bank, Wipro, and Tech Mahindra — together accounting for over 31 per cent of the Nifty 50’s weight. Domestically, India’s June CPI and WPI inflation data are due, alongside trade balance figures and foreign exchange reserves. Globally, US inflation numbers and Federal Reserve Chair Jerome Powell’s semi-annual testimony will be closely watched, as will China’s second-quarter GDP. Three IPOs targeting to collectively raise nearly ₹10,100 crore are also lined up in the primary market. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Markets stage comeback amid global sell-off, IT earnings boost
Asia
The Hindu BusinessLine

Indigenous Saras Mk II flight tests scheduled for late 2027-28

(file picture) Saras Mk II, pitched in a highly specialised and historically competitive segment of the 19-seater twin-turboprop commuter as well as utility class which till now is being served by ageing indigenous Dornier 228, will complete the certification by mid 2031. | Photo Credit: MURALI KUMAR K Away from the public glare on the production of Tejas LCA Mk1A and fifth generation Advanced Medium Combat Aircraft (AMCA), Council of Scientific and Industrial Research – National Aerospace Laboratories (CSIR-NAL) is quietly developing indigenous passenger aircraft Saras Mk II, with the first flight tests scheduled in the last quarter of 2027-28. Saras Mk II, pitched in a highly specialised and historically competitive segment of the 19-seater twin-turboprop commuter as well as utility class which till now is being served by ageing indigenous Dornier 228, will complete the certification by mid 2031. Post that, the aircraft will be ready for operations. To start with, the order book for acquisition of the Saras Mk II appears encouraging to the CSI-NAL officials. The Indian Air Force (IAF) will be the first launch customer of the Saras Mk II, as it has provided letter of intent (LOI) for fifteen aircraft, the CSIR-NAL officials told businessline. “The IAF has also orally indicated requirement of additional 30 Saras which they would commit after the certification of the aircraft. A parliamentary committee recommended two aircrafts per state, which comes to nearly 60. Adding to that, a private company provided enquiry of requirement for an air ambulance. Therefore, the total approximately comes to 105 aircraft which is the basis for revenue generation calculation,” officials revealed. As of now it has 50 percent indigenous content (IC) in terms of the cost of aircraft, the CSIR-NAL officials told businessline. Airframe, major assemblies and required jigs and tooling will be developed indigenously, they explained. Likewise, complete design, development qualification of integrated avionics and flight control system comprising stall warning and protection system (SWPS), brake management system, environment control system, utility services and management system and health monitoring system too will be harvested from within the country, officials stated. “This constitutes 50 per cent of the total aircraft cost. It is aimed to increase the IC with separate indigenisation programmes with the support from the government,” officials noted. On the other hand, the import content is confined to engines(Pratt and Whitney Canada PT6A-67A turbo-prop) ,propeller, fuel system components, navigation sensors, raw material and alloys. A few critical components in systems like pressure manifold for brake by wire, civil approved inertial reference system are also being acquired from abroad. According to officials, the modular Line-Replaceable Units (LRUs), such as radios and computers, are not available domestically and are ITAR-controlled. ITAR is a set of US government regulations restricting the import and export of defense-related products, services, and data. State-owned Hindustan Aeronautics Ltd (HAL), which is the licence manufacturer of Dornier 228, is the production partner for Saras Mk II project. HAL Kanpur will be setting up a production line, and would be responsible for sales and after sales and maintenance and repair operations of the aircraft. HAL is also helping the programme in design and development of landing, wheels and brake and setting up of the fuel system test rig, officials in the leading aerospace company and CSIR stated.

Indigenous Saras Mk II flight tests scheduled for late 2027-28
Asia-Pacific
The Straits Times

DBS crosses $200 billion in market capitalisation as earnings optimism drives Singapore bank rally

SINGAPORE – Shares of Singapore’s three local banks have surged to record levels over the past week, helping lift the Straits Times Index (STI) to a fresh high and pushing DBS above $200 billion in market capitalisation on July 13 – making it the first Singapore-listed company to cross that threshold. Analysts told The Business Times that the rally could have more room to run, buoyed by increasing investor optimism ahead of the lenders’ second-quarter results due in early August. A clearer earnings outlook as well as improvements in the interest rate environment likely drove the share price rally over the past week, with potential for further increases if the banks provide positive guidance when they post their results, they added. “We are entering an environment where we believe Singdollar rates will be supportive of improving net interest income alongside continued strength in non-interest income,” said Jayden Vantarakis, head of Asean equity research at Macquarie Capital. At the close on July 13, DBS was up 0.5 per cent at $70.79, OCBC had risen 0.2 per cent to $27.48, and UOB was down 0.9 per cent at $43.98. The rally in the three banks – which together account for more than 50 per cent of the STI’s total weight – has also pushed the benchmark index to new highs. The STI was nearly flat on July 13, but still inched up 0.02 per cent to a fresh record of 5,470.34 points. Vantarakis noted that US dollar strength as a result of higher American interest rates is positive for Singapore dollar rates, and this environment of modest rate increases will support wealth flows and asset quality. He also sees potential for further rerating in the sector, supported by growth in both net interest income and non-interest income, while the Singdollar remains a preferred currency amid broad strength in the greenback. Furthermore, the banks stand to benefit from strong credit growth and wealth management fees, said Thilan Wickramasinghe, head of Singapore research and regional head of financials at Maybank Securities. Over the past week, continued market uncertainty surrounding some regional markets as well as conflict in the Middle East are likely driving safe-haven liquidity towards the Singapore banks, he added. He said these have resulted in a clearer earnings outlook for the banks, creating more opportunities for the banks to return capital to shareholders. But the magnitude of any benefit from higher rates may be capped, said Morningstar equity analyst Kathy Chan.

DBS crosses $200 billion in market capitalisation as earnings optimism drives Singapore bank rally
Asia-Pacific
The Straits Times

Malaysia tops S-E Asia’s IPO market in first half of 2026, Singapore comes in second

The listings in Malaysia raised $1.68 billion, while those in Singapore raised $1.12 billion. SINGAPORE – Malaysia emerged as the top market for initial public offerings (IPOs) in South-east Asia in the first half of 2026, with 36 listings, while Singapore trailed with five debuts, a Deloitte report released on July 13 showed. The listings in Malaysia raised US$1.3 billion (S$1.68 billion), while those in Singapore raised US$868 million. It still marks an improvement for Singapore, which saw only one IPO in the first half of 2025. There have been signs of rejuvenation in Singapore’s capital markets, after the Monetary Authority of Singapore and Singapore Exchange (SGX) made efforts in 2025 to boost liquidity and encourage investor interest. In February 2025, Singapore’s central bank launched the Equity Market Development Programme, which is a $6.5 billion initiative designed to boost investor participation beyond large-cap stocks. Deloitte South-east Asia capital markets services leader Tay Hwee Ling noted that Singapore’s performance reflects growing investor confidence and strong support for these recent market reforms. In total, South-east Asia saw 47 IPOs across the region in the first half of 2026, raising more than US$3.07 billion in proceeds. While there were 53 IPOs in the first half of 2025, the proceeds amounted to only US$1.41 billion. Tay said: “Deloitte’s report highlights a resilient South-east Asian IPO market that continues to attract larger and higher-quality listings despite a moderation in overall IPO volumes.” The report noted that the market demonstrated a significant shift towards larger transactions. Compared with the first half of 2025, IPO proceeds in 2026 increased by 117 per cent, and the average IPO deal size grew from US$26 million to US$65 million – representing an increase of about 2½ times.

Malaysia tops S-E Asia’s IPO market in first half of 2026, Singapore comes in second
Europe
BBC Business

Will Trump Accounts deliver for American children?

Image source, Getty ImagesByMichael RaceBusiness reporter, Reporting fromNew YorkPublished4 hours agoThe launch of Trump Accounts, the new savings scheme aimed at encouraging investing among American children, was marked with an historic ringing of the Wall Street opening bell in the Oval Office this week. But not everyone is convinced the project will prove a success in giving new generations a stake in the so-called American dream, with sceptics suggesting that it will not live up to the hype. The savings accounts are now available to all US children under the age of 18, with babies born between 2025 and 2028 qualifying for a $1,000 contribution to kickstart savings. The move comes as the cost of living remains a major issue ahead of November's mid-term elections, but tax experts told the BBC families on lower incomes could lose out and that the scheme is too complicated. The accounts named after the president are available nationwide and can be created for anyone under the age of 18 with a valid social security number. Parents can simply download the app. Families, friends and employers can contribute up to $5,000 per year per child, who can access the funds when they turn 18. By law, the money must be invested in a low-cost index fund designed for long-term growth. But while the money grows tax free, withdrawals are subject to taxes and a possible 10% penalty if made before the age of 59 and a half. To avoid such a penalty, the money must be assigned to pay for certain things, such as higher education, buying or building a first home, or for personal emergency expenses. Trump Accounts add to other existing tax-efficient savings schemes that Americans can use for retirement, such as IRAs, or for educational purposes, such as 529 plans, which parents use to save for their children's college fees. According to a Congress report,, external Trump Accounts are a new form of traditional individual retirement account (IRA), but differ because of certain rules. While the White House has been keen to push the scheme, reaction to it has been split. The White House's argument is that Trump Accounts offer millions of children a way into stock ownership in the US, which it says has historically been "unevenly distributed, with many households - especially younger and lower‑income families - having little or no exposure".

Will Trump Accounts deliver for American children?
Europe
BBC Business

Is tracking your food purchases good for your health?

With a packet of biscuits in one hand and her smartphone in the other in the biscuits sucrées aisle of her local Hyper U supermarket west of Paris, Nathalie sees red. Literally. "Look at that!" she says showing me her phone. 0/100 is marked in red lettering. "This is one of Malo's [her 12-year-old son's] favourites but it's not only full of sugar and saturated fats, there are four additives as well including one health risk," she says. Nathalie clicks on the additive in question: E450. "A mineral which, taken in excess, can lead to bone marrow and kidney problems," she reads. "Honestly, that they can put this sort of thing in food aimed at children drives me nuts!" she says. We scan an Italian alternative whose packaging gives you the impression those biscuits have been hand-made by peasant women wearing black shawls. The score is not much better: "Malo hates shopping with me now," says Nathalie. "You spend ages scanning and he can never have what he wants." The app, having activated the red alert, suggests a healthier alternative. It's organic, containing wholewheat, fruit and fibre. Nathalie is one of a growing number of people using Yuka, an app developed in France, to shop more healthily. Not just for food but cosmetics and toiletries too. Download it and you can use your phone to scan the barcodes of any one of the six million products on the Yuka database (about 1,200 new ones a day) and it'll tell you immediately – green for good, red for bad, yellow for could be better. If you want to know more, you can delve further. Pages and pages if you want. Started in 2015, Yuka now has 85 million users in 12 countries: numerous European ones plus the US, Canada and Australia. The third-biggest user is the UK with around five million, second is France with six million, but the biggest by a very long way is the US with 28 million.

Is tracking your food purchases good for your health?
Asia
The Hindu BusinessLine

Oxford Vaccine Group launches world’s first Phase I Bundibugyo ebolavirus vaccine trial

India’s Serum Institute will provide doses for the world’s first Phase I clinical trial for a vaccine against the Bundibugyo ebolavirus (BDBV) – being undertaken by the Oxford University’s Oxford Vaccine Group. The BDBV strain is responsible for the ongoing ebola outbreak in the Democratic Republic of the Congo (DRC), and Uganda. Over 600 deaths from ebola have been reported in DRC, according to latest reports. The trial will be conducted in Oxford and will assess the safety and immune response of the ChAdOx1 BDBV vaccine in 50 healthy adults between 18–55 years, they said in a joint statement. “Recruitment of volunteers into the study is now underway, where they will then attend screening visits. In the coming weeks, and following regulatory review for trial commencement, participants will then be vaccinated and attend follow-up visits in Oxford,” the note said. To speed up development of the vaccine candidate into clinical evaluation, “Serum Institute of India (SII) has manufactured and stockpiled approximately 620,000 doses of the ChAdOx1 BDBV vaccine candidate in two weeks for potential future use and has supplied 4,000 investigational doses for this Phase I trial,” the note said. The Coalition for Epidemic Preparedness Innovations (CEPI) is funding the University of Oxford and SII, as part of a $8.6 million programme to advance the development of Bundibugyo vaccines, the note said. The programme builds on CEPI’s strategic partnership with the University of Oxford and SII’s participation in CEPI’s Vaccine Manufacturing Facility Network, it added. Efforts are also underway, subject to regulatory approvals, to conduct clinical studies with partners -including the Medical Research Council/Uganda Virus Research Institute and London School of Hygiene and Tropical Medicine Uganda Research Unit, it said. The said vaccine was developed by scientists at the Oxford Vaccine Group (OVG) and Pandemic Sciences Institute and uses the same viral vector platform as the Oxford/AstraZeneca COVID-19 vaccine, the note explained. Professor Teresa Lambe, Calleva Head of Immunology at the Oxford Vaccine Group and Pandemic Sciences Institute, and the study’s Lead Scientific Investigator, said, “This milestone comes after only 57 days since the World Health Organization declared the outbreak a public health emergency of international concern.” Adar Poonawalla, Serum Institute’s Chief Executive added, “During outbreaks, speed, preparedness and global collaboration are essential to advancing vaccine candidates quickly and responsibly.” Dr Nicole Lurie, CEPI Executive Director ( Preparedness and Response), pointed out that the Bundibugyo epidemic is already the third-largest Ebola outbreak on record, as infection numbers are continuing to rise. If all goes to plan, CEPI expects to work with Oxford University and SII to support late-stage trials to generate data for emergency use authorisation or licensure, it said. The three entities are committed to “enabling rapid, affordable supply of Bundibugyo virus vaccines to affected countries and to the populations that need them,” it added. Earlier this month, the WHO had added the first molecular diagnostic test for the BDBV virus to its Emergency Use Listing (EUL). The test detects the virus by identifying its genetic material in blood samples, helping confirm infection rapidly and accurately, the WHO said. The EUL paves the way for easy adoption in low-resource regions. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Oxford Vaccine Group launches world’s first Phase I Bundibugyo ebolavirus vaccine trial
Asia
The Hindu BusinessLine

IRDAI mandates independent validation of insurers’ preparedness for implementing Ind AS

The Insurance Regulatory and Development Authority of India (IRDAI) has mandated an independent validation of insurers’ preparedness for implementing Indian Accounting Standards (Ind AS), requiring an external review of governance, systems and transition processes during the first year of adoption. In a circular providing additional information and clarifications on the IRDAI (Actuarial, Finance and Investment Functions of Insurers) Regulations, 2024, the insurance regulator said every insurer would have to obtain an independent validation of its Ind AS implementation process. The requirement will apply in FY2026-27 for insurers adopting Ind AS from that year and in FY2027-28 for insurers that have been granted regulatory forbearance. The independent validation will assess whether insurers have established a robust implementation framework, including a Board-approved strategy and roadmap, governance and accountability mechanisms, adequacy of actuarial, finance, risk and IT resources, data management practices, transition plans under Ind AS 101 and Ind AS 117, and technology readiness, the IRDAI said. The validation should be conducted on an ongoing basis throughout the first year of implementation, with the independent validator engaged from the first quarter itself to facilitate timely review and course correction. The independent validation report will have to be submitted to the insurer’s Board every quarter before completion of the audit or limited review of Ind AS financial statements. An annual report must also be filed with the regulator before publication of the audited Ind AS financial statements, the circular said. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

IRDAI mandates independent validation of insurers’ preparedness for implementing Ind AS