Airlines hit a speed-bump 👎🏻
Bajaj Auto's stellar quarter, wealthtech to get shinier, and offline tap-to-pay arrives.
🗓️ Morning, folks! ☀️
Markets ended Tuesday on a mixed note as gains in auto and financial stocks were offset by weakness in heavyweights like Reliance Industries and HDFC Bank.
While the Sensex and Nifty remained range-bound, midcaps outperformed.
Gold financiers Muthoot Finance and Manappuram Finance rallied after gold prices climbed.
Pharma stocks like Sun Pharma, Lupin, Cipla, will be in focus today after Donald Trump announced tariffs on imported generic medicines, keeping them duty-free until August 2028 before imposing 100% tariffs for a year and 200% thereafter to boost US manufacturing.
💡 Spotlight: The skies have a new winner ✈️
Looks like India’s domestic aviation growth is beginning to lose a little altitude.
Domestic airlines carried 864 lakh passengers between January and June 2026, up 1.4% from the same period last year.
June bucked the trend, with passenger traffic falling 1% year-on-year.
Who’s pulling ahead: as demand softens, IndiGo continues to strengthen its lead. The airline grew its market share from 64.9% in May to 66.3% in June, while Akasa Air also gained ground, increasing its share from 5.8% to 6.4%.
Meanwhile, the Air India Group saw its market share decline from 25.6% to 23.9%, while SpiceJet slipped from 2.5% to 1.9%.
The bigger picture: India’s domestic aviation market remains highly concentrated, with IndiGo and the Air India Group together accounting for nearly 90% of all passengers in the first half of 2026.
Let’s hit it! 💪🏻
1 Big Thing: Bajaj Auto rides on record exports 🛵
Bajaj Auto reported a strong June quarter, helped by record exports and healthy demand in both domestic and overseas markets.
By the numbers: the two-wheeler maker posted a 42% YoY jump in net profit to ₹2,983 crore, while revenue climbed 37% to ₹17,244 crore. Margin improved to 20.9% from 19.7% a year ago.
What’s driving the growth: Bajaj Auto sold 29% more vehicles than last year, while the average price of each vehicle also increased by 11%.
The biggest highlight was exports, which delivered their best-ever quarterly performance. Motorcycle sales also remained strong, delivering double-digit revenue growth.
Since Bajaj Auto earns a significant share of its revenue overseas, the weaker rupee boosted its earnings by increasing the value of export revenues.
What’s next: the company plans to launch upgraded models in its popular 125cc-160cc motorcycle segment, where competition has been heating up.
Zoom out: passenger vehicle (PV) sales touched an all-time high of 12,73,811 units in the first quarter of FY27.
According to SIAM, growth wasn’t limited to passenger vehicles. Two-wheelers, commercial vehicles and three-wheelers also posted strong sales, supported by steady domestic demand.
While we are on earnings 💰,
Adani Energy Solutions reported a decent June quarter, with consolidated net profit more than doubling to ₹1,149 crore, up 124% from a year ago. Revenue from operations rose 42% YoY to ₹9,711 crore.
The growth was driven by strong growth across its businesses.
The transmission business grew 52%, distribution increased 47%, smart metering surged 210%, while its energy solutions platform recorded an 812% jump.
More on earnings 💰,
AI-focused cloud platform E2E Networks hit upper circuit after the company reported a profit for the June quarter of the current financial year.
It reported a consolidated net profit of ₹44 crore for the quarter, compared with a loss of nearly Rs 3 crore in the corresponding period of the previous financial year.
2. Redington brings US AI tools to India 🤖
Redington is helping more businesses access AI-powered customer engagement tools through a new partnership with Resulticks.
Redington helps global technology brands sell their products through businesses and resellers across multiple countries.
Resulticks builds AI software that help businesses understand customers and deliver personalised messages and offers.
What is it about: think about how Amazon recommends products you’ll probably buy, or how Swiggy reminds you to reorder your favourite meal just when you’re likely to be hungry.
That’s exactly the kind of technology Resulticks builds.
Its AI platform helps companies understand customer behaviour in real time and automatically send personalised offers, emails, WhatsApp messages and app notifications.
Now, through a five-year partnership, Redington will make this technology available to businesses across India, the Middle East and South East Asia, targeting a market worth over $150 million.
We've asked before, but we'd love to hear from you again.
Here’s a quick coffee check for you. ☕️
3. Wealthtech is getting richer 💸
Wealthtech startup Veriqus Group has raised ₹387 crore in a funding round led by global venture capital firm Norwest.
It helps high-net-worth individuals, family offices and institutions with everything from wealth management and investments to business advisory and lending.
The deets: the startup already works with more than 500 wealth creators, who together manage assets worth over ₹1.2 lakh crore. With the fresh funding, Veriqus plans to expand into Tier-II and other fast-growing cities.
Big theme: India’s wealth management industry is on the brink of a massive expansion.
Today, wealth managers oversee around $680 billion in assets. But by FY29, Indians could be looking to invest nearly $2.3 trillion. That’s a huge gap and exactly why investors are pouring money into wealthtech startups.
While we are on fundraises 💰,
AI-powered travel planning startup 30 Sundays has raised ₹61 crore in a funding round led by Bessemer Venture Partners.
Instead of making you piece together your trip, 30 Sundays helps plan the entire journey, from discovering destinations and building personalised itineraries to booking flights, hotels and experiences.
4. More Indians are building abroad. Why? 🤔
Did you know Indian founders have built more billion-dollar startups abroad than in India?
Indian-origin entrepreneurs have co-built 217 unicorns worth nearly $600 billion, with 156 located outside India.
China has managed the opposite: nearly seven domestic unicorns for every one built abroad by a Chinese founder.
Its domestic ecosystem now houses 381 unicorns, second only to the US. Before India invites the world to “Make in India,” we may need to give more Indian makers a reason to keep building here.
5. Stocks that kept us interested 🚀
What went up ⬆️
📈 Sobha shares gained after it reported a 292% profit jump and 50% revenue growth for Q1FY27.
⚡ Jaiprakash Power jumped 5% after it reported a 69% year-on-year rise in Q1 profit and 12% revenue growth.
🚀 Zen Technologies shares gained nearly 4% after winning a ₹177.5 crore Defence Ministry order to upgrade tank gunnery simulators for the armed forces.
💪🏻 Karur Vysya Bank shares surged 13% after it posted a record Q1 profit, backed by upbeat management commentary.
💰 Data Patterns gained nearly 7% after it secured a ₹1,300 crore contract from HAL to support India’s defence and aerospace capabilities.
What went down ⬇️
🔻 Paytm shares fell 4% after scrapping its proposed bonus issue, overshadowing strong Q1 revenue growth led by payment services.
☀️ Waaree Energies and Premier Energies fell 4% each after developments related to the ALMM policy; ALMM is the government’s approved list of eligible solar manufacturers.
What else are we snackin’ 🍿
💳 Offline UPI: India is planning to allow small UPI tap-and-pay transactions without an internet connection at supported payment machines.
🧬 Oncology spinout: Lupin spun out two oncology drug programmes into US-based Kaveri Therapeutics, retaining a significant equity stake while supporting their global clinical development.
That’s a wrap! Don’t let the weekday blues get to you.
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