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Reliance Industries reported strong operating profit growth in the June quarter, driven by oil marketing, retail, and digital services. Excluding a one-time gain, operating profit and net profit grew by 15% and 25% respectively. The company saw growth in its O2C business, telecom subscriber base, and retail segment, with Motilal Oswal reiterating a "buy" rating on the stock.
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Early Q1 results reveal a slowdown in revenue and profit growth, hitting a nine-quarter low, excluding Reliance Industries' one-time gain. Banking, finance, FMCG, and IT sectors are showing lackluster performance, impacting overall growth. While initial expectations were high for sectors like capital goods and healthcare, the current trend indicates a weaker earnings picture.
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Foreign investors are showing caution towards the Indian stock market. Derivative bets indicate a bearish outlook. Uncertainties surrounding global trade tariffs are a major concern. Muted quarterly results also contribute to the negative sentiment. The long-short ratio, a key market indicator, has fallen significantly. This reflects increased short positions by foreign institutional investors.
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The Chinese parent has diversified investments that range from healthcare to football clubs, asset management, banks, estate, hospitality, fashion and industrials. The conglomerate has a presence across the pharma value chain from manufacturing to diagnostics and medical devices. Shanghai Fosun Pharmaceutical Co. had acquired an 86% stake in Gland Pharma in 2016 from KKR for a record deal value of $1.26 billion.
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The crypto sector's market value hit $4 trillion on Friday, according to CoinGecko, marking a milestone that reflects its shift from a nascent asset class to a central part of the global investment landscape.
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