Blog

Torrent Power Shares Plummet After Q3 Results

Mumbai – Shares of Torrent Power experienced a significant downturn today, falling 6% to ₹1,397.70, following investor reaction to the company’s Q3 FY26 performance. While the company reported year-on-year growth, sequential figures disappointed. Key highlights:

• Net Profit: Rose 34% YoY to ₹655 crore, but declined 12% QoQ.
• Revenue: Increased 4.3% YoY to ₹6,778 crore, but decreased 14% QoQ.
• Dividend: An interim dividend of ₹15 per share was declared, with a record date of February 16, 2026.
• Funding: Approved raising up to ₹7,000 crore through NCDs.

Despite the drop, the stock has shown 22% recovery in the last five months.

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J&K Assembly Disrupted by BJP Walkout Over CM’s Remarks

The Jammu and Kashmir Assembly faced a second day of turmoil Wednesday as BJP members staged a walkout, demanding an apology from Chief Minister Omar Abdullah for allegedly “unparliamentary” remarks made Tuesday regarding the India-US trade deal’s impact on J&K horticulture.

• Trigger: CM Abdullah’s comments suggesting the trade deal, specifically zero-duty access for US tree nuts and fruits, would harm local walnut and almond growers.
• BJP’s Response: Demanding an apology and disrupting proceedings, staging a sit-in, and raising slogans.
• Government’s Stance: CM Abdullah briefly appeared but did not apologize.
• Stalemate: The opposition refused to allow normal business until their demands are met.

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Yen Jumps Amid Intervention Speculation

Tokyo – The Japanese yen surged against major currencies this morning, fueled by growing speculation of imminent intervention from Japanese authorities to support its value. The move follows recent pronouncements from government officials expressing concern over the yen’s rapid depreciation.

• Yen strengthened against most G-10 and Asian currencies.
• Market analysts attribute the rally to heightened intervention risk.
• No official confirmation of intervention has been issued.
• Further gains are anticipated if intervention materializes.

The currency market remains highly sensitive to any signals from the Bank of Japan and the Ministry of Finance.

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Co-op Defends Decision-Making Process Amid Internal Disagreements

Manchester, UK – The Co-operative Group has addressed internal concerns regarding its decision-making processes. A spokesperson emphasized the cooperative’s commitment to inclusive leadership, stating that diverse perspectives were considered during recent deliberations.

• Key Fact: Decision-making involved leaders and colleagues across food and broader business divisions.
• Key Fact: The Co-op acknowledged that disagreement is inherent when considering various viewpoints.
• Key Fact: The statement follows unconfirmed reports of internal dissent regarding undisclosed strategic choices.

The Co-op maintains that its structure ensures a comprehensive review of all viewpoints, even if unanimity cannot be achieved in final decisions. The statement was issued in response to inquiries from the BBC.

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Gold ETFs Outshine Equity Funds in January as Demand Surges

Mumbai – In a historic shift, Indian investors poured more money into gold Exchange Traded Funds (ETFs) than equity-oriented mutual funds in January, according to AMFI data.

• Record Inflows: Gold ETFs saw a record ₹24,040 crore inflow, more than double December’s figures.
• Equity Decline: Equity-oriented funds experienced a 14% drop in inflows to ₹24,029 crore.
• Rising Gold Prices: Increased demand for gold has risen amid a weakening US dollar, central bank buying, and global instability.
• Silver surge: Silver ETFs witnessed a net inflow of ₹9,463 crore, with an AUM of ₹1.17 lakh crore.

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