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HUL Demerged Entity Receives Trading Approval; Kwality Wall's Listing Date Announced
Hindustan Unilever Limited (HUL) has received final listing and trading approvals from the BSE and National Stock Exchange for its demerged ice cream entity, Kwality Wall’s (India) Limited. The new stock is scheduled to debut on the exchanges on February 16, 2026. This listing completes a structural separation that began in late 2025. Shareholders who held HUL stock as of the December 5 record date were allotted shares in the new company at a 1:1 ratio. This move establishes India’s first pure-play listed ice cream firm. The demerger has already made a significant impact on HUL’s financial statements. In its latest Q3 FY26 results, HUL reported a 121% surge in consolidated net profit to **6,603 crore**. This jump was primarily driven by a one-time exceptional gain of **4,611 crore** recognized from the transfer of the ice cream business at fair value. Excluding this accounting gain, HUL's underlying profit grew by a modest 1% to **2,562 crore**. The company's revenue for the quarter stood at **16,441 crore**, representing a 6% year-on-year increase. Underlying volume growth was recorded at 4%. The standalone ice cream business, which includes brands like Magnum and Cornetto, currently operates with a massive cold-chain network of over 2 lakh cabinets. Following the listing, The Magnum Ice Cream Company will hold a 61.9% stake in the entity, providing it with global strategic support. Analysts have highlighted a mixed outlook for the new stock. While the sector benefits from a recent GST cut from 18% to 5%, the business remains highly seasonal. Kwality Wall’s reported an EBITDA margin of 7.1% in FY25, significantly lower than HUL’s core FMCG margins, which maintained a steady 23.3% in the recent quarter. Market valuations for the new shares are estimated by some brokerages in the range of **50 to 55 per share**. This reflects a valuation of roughly 5x enterprise value to sales, a discount compared to HUL’s broader 9x multiple, accounting for the capital-intensive nature of the frozen goods segment. For HUL, the separation allows for a sharper focus on its high-growth Beauty, Wellbeing, and Home Care segments. The company continues to pivot its portfolio, recently gaining full ownership of the nutrition brand OZiva while exiting underperforming joint ventures. HUL shares ended the most recent trading session at **2,305.00**, down 2.22%, as the market absorbed the latest earnings data and the final timeline for the spin-off. Investors are now focused on the February 16 debut to gauge the independent market value of the ice cream vertical.
Ola Electric Q3 Results: Net Loss Narrows to Rs 487 Crore Amid 55% Revenue Decline
Ola Electric has reported its third-quarter results for the 2024-25 fiscal year, revealing a complex financial picture characterized by widening losses despite maintaining a strong grip on the market. The company’s consolidated net loss grew to **564 crore**, a significant 50% increase compared to the **376 crore** loss reported in the same period last year. Revenue from operations for the quarter stood at **1,045 crore**, marking a 19.36% year-on-year decline from **1,296 crore**. This drop reflects the intensifying competition in the electric two-wheeler space and a shift in consumer demand dynamics. Despite these headwinds, the company maintained a leading **25.5% market share** in the segment, delivering **84,029 units** during the October-December period. Operating expenses remained a hurdle as the total burn reached **1,505 crore**. Key cost drivers included materials procurement, which accounted for over half of total costs, alongside significant investments in marketing and the expansion of the "HyperService" network. The company is pivoting toward a direct-to-customer model with over **4,000 stores** now operating across India to improve after-sales reliability. Market performance for early 2025 shows signs of a volume recovery. In February 2025, Ola Electric reported selling over **25,000 units**, capturing roughly **28% of the market**. However, this figure faced scrutiny due to a discrepancy with Vahan registration data, which the company attributed to a temporary backlog caused by transitioning to new registration vendors. The product pipeline is a primary focus for future growth. Ola has recently launched its Gen 3 scooter range and made a high-profile entry into the motorcycle market with the Roadster series. The company’s shift toward using its indigenously developed **4680 Bharat Cell** technology is expected to drive down battery costs and improve gross margins, which are targeted to reach **26%** in the coming months. On the stock market, Ola Electric shares have faced volatility, recently trading near **31.28** on the NSE as of mid-February 2026. This is significantly below the IPO price of **76** and the all-time high of **157**, reflecting investor caution regarding the path to profitability and ongoing regulatory observations from SEBI concerning disclosure norms. The broader EV landscape in India is maturing, with legacy players like TVS and Bajaj Auto aggressively closing the gap. While Ola remains the volume leader, the company is now focused on operational leverage and cost optimization to navigate a more crowded and price-sensitive market environment.
Indian Rupee Ends Flat Amid Slight Downward Pressure
The Indian rupee maintained a steady stance on Friday, February 13, 2026, as the **USD/INR** exchange rate hovered near **90.65**. The currency faced a tug-of-war between high interbank dollar demand and strategic defense from the Reserve Bank of India. Market participants noted that the central bank likely utilized state-run banks to sell dollars, preventing the rupee from slipping past the psychological **90.75** level. Equity Market Turbulence Domestic sentiment was dampened by a significant sell-off in the technology sector. The **BSE Sensex** crashed by **883 points**, or **1.05%**, to settle near **82,791**. The **NSE Nifty 50** followed suit, dropping **262 points** to **25,544**. Heavy selling was triggered by the "Anthropic shock," as new developments in artificial intelligence raised concerns over the long-term viability of traditional IT outsourcing models. Major laggards included industry heavyweights like Infosys and TCS, which bore the brunt of the **5.5%** slide in the IT index. Economic Indicators and Inflation Fresh data released this week showed India’s retail inflation rising to **2.75%** in January 2026. This figure, calculated under the new Consumer Price Index (CPI) series with a **2024 base year**, remains well within the central bank’s target range of **2% to 4%**. Despite this uptick, the Reserve Bank of India recently maintained the repo rate at **5.25%**, signaling a neutral stance for the foreseeable future. Commodities and Global Context Gold prices saw a modest recovery of **0.97%**, trading near **₹154,324** per 10 grams on the MCX. The metal's volatility is being driven by shifting expectations regarding US Federal Reserve interest rates and safe-haven demand stemming from US-Iran geopolitical tensions. Meanwhile, global oil prices remained relatively soft, with **Brent crude** trading at **$67.41** per barrel, providing a slight cushion against India's widening trade deficit. Outlook Traders expect the rupee to remain range-bound between **90.40** and **90.80** in the near term. Stabilizing factors include a revival in Foreign Institutional Investor (FII) inflows, which recently turned net positive after a period of sustained selling. However, continued volatility in global tech stocks and the evolving AI landscape are expected to keep pressure on local equity indices and the currency's immediate upside.
European Equity Indices Decline Amid AI Sector Volatility and Corporate Earnings Reports
European markets are navigating a period of heightened volatility today, February 13, 2026, as investors weigh the rapid pace of artificial intelligence integration against a complex backdrop of corporate earnings and shifting economic indicators. The pan-European STOXX 600 index currently sits at 618.75 points, marking a marginal recovery from earlier session lows of 616.58. Despite the slight uptick, the index remains on track to close the week virtually flat. Major regional benchmarks show a divided performance: Germany’s DAX remains steady with a positive bias, and the UK’s FTSE 100 has edged up 0.1% to 10,393 points. Conversely, France’s CAC 40 has retreated 0.3%. Investor sentiment is heavily influenced by "SaaSpocalypse" concerns—a term coined by analysts following the launch of advanced AI automation tools. These innovations are creating deep uncertainty for traditional business models in the logistics, insurance, and legal sectors. This anxiety was exacerbated by disappointing gross margins from US-based Cisco Systems, which served as a reminder of the rising costs associated with AI infrastructure. Corporate earnings have delivered a starkly mixed bag for the luxury and aerospace sectors. L'Oreal shares plummeted 6.6% after reporting fourth-quarter sales growth that failed to meet market expectations, dragging the personal and household goods sector down by 1.2%. Delivery Hero also faced significant pressure, sliding 8.7% due to mixed results from its Middle East division. In contrast, the aerospace sector provided a bright spot. Safran shares surged 7.3% following an optimistic revenue and earnings forecast for 2026. Capgemini also tracked higher, rising 2% after beating its full-year revenue targets, while NatWest reported a 24% jump in profits. On the macroeconomic front, the European Central Bank (ECB) has maintained interest rates at 2.00%, marking the fifth consecutive meeting without a change. Inflation in the Eurozone has eased to 1.7%, comfortably below the 2% target. A strengthening Euro, which recently touched a multi-year high near 1.19 against the US dollar, is currently acting as a deflationary force by lowering import costs. However, growth remains sluggish. The Eurozone economy expanded by only 0.3% in the final quarter of last year, and Germany’s growth forecast for 2026 is modest at approximately 0.9%. This environment of low growth and low inflation has led many analysts to predict at least one interest rate cut later this year, though the ECB has yet to offer formal forward guidance. Current market data indicates that while the STOXX 600 has maintained a 4.4% gain year-to-date, the path forward remains clouded by technological disruption and cautious consumer spending across the continent.
Indian Stock Market Slides as Sensex Drops 1,050 Points and Nifty Falls Below 25,500 Amid Rising Volatility
Market Overview: February 13, 2026 Global equity markets are facing a turbulent end to the week as a massive sell-off in the technology sector ripples across continents. Investor sentiment has been rattled by a combination of high-impact AI industry developments, shifting trade policies under the current U.S. administration, and fresh inflation data that complicates the outlook for interest rate cuts. Equity Indices and Tech Volatility The **Nasdaq Composite** suffered a sharp **2.03%** decline, closing at **22,597.15** points. This rout was mirrored in India, where the **BSE Sensex** plunged over **880 points** in early trade to reach **82,791.52**, while the **NSE Nifty 50** dropped below the critical **25,600** level. The primary catalyst is the "Anthropic shock"—a major disruption in the IT services landscape following new AI enterprise tools that automate complex legal and compliance tasks. Indian IT giants felt the brunt, with **Infosys** and **Wipro** seeing their American Depositary Receipts (ADRs) crash nearly **10%** overnight. Economic Indicators and Central Banks Refining the macro landscape, U.S. labor data remains resilient with **130,000** non-farm payrolls added in January and unemployment holding steady at **4.3%**. While this shows economic strength, it has dampened hopes for a near-term Fed rate cut. Markets currently price in a **92%** probability that the Fed will maintain rates at its next meeting. In India, January inflation figures landed at the upper end of the RBI’s **2%–4%** tolerance band. This data, combined with a **rupee** weakening against a strengthening **U.S. Dollar Index (96.93)**, has stalled expectations for domestic monetary easing. Commodities and Energy Precious metals are experiencing a "V-shaped" session. After a sharp crash where **Gold** fell below the **$5,000** mark to hit **$4,880**, bargain hunters have stepped in. Spot gold is currently rebounding toward **$4,960** per ounce. * **Gold (MCX):** Trading near **₹1,54,140** per 10 grams. * **Silver (MCX):** Trading near **₹2,43,260** per kg, recovering **2%** after recent volatility. * **Brent Crude:** Trading lower at **$67.41** per barrel, influenced by easing tensions and shifting U.S. energy policies. Sector Performance and Trade Despite the tech gloom, a rotation of capital is visible. **Banking** and **Consumer Finance** have shown resilience, with **Bajaj Finance** and **HDFC Bank** emerging as rare gainers in the current session. The global trade landscape is also adjusting to new U.S. tariff structures. Reports indicate that developed economies have gained a **2%** relative competitive advantage since 2024, while developing nations face a growing disadvantage of nearly **3 percentage points** due to shifting trade costs and the repeal of various climate-related emission standards.
Historical Performance of Indian Stock Markets on Friday the 13th
Market Brief: Friday the 13th Volatility The historical "Friday the 13th" superstition on Dalal Street continues to face a reality check. Data shows that the Indian market has actually closed higher in **9 of the last 16** such sessions, reflecting a positive hit rate of **56.25%**. Major historical gains on this date include a **4%** jump on March 13, 2020, and steady **1%** climbs observed in late 2019, 2021, and as recently as December 13, 2024. Today's Market Performance Despite the historical resilience, the current session on Friday, February 13, 2026, saw benchmark indices succumb to heavy selling pressure. The **BSE Sensex** plunged **813.20 points** (0.97%) to trade near **82,850**, while the **NSE Nifty 50** dropped **263.45 points** (1.02%) to slip below the **25,550** level. The downturn wiped out approximately **Rs 4.62 lakh crore** in investor wealth as market capitalization contracted sharply during afternoon trade. Sectoral Impact and Key Drags The technology sector bore the brunt of the sell-off, with the **Nifty IT index** crashing over **5.5%**. This decline was fueled by global concerns regarding tech business models and valuation repricing. * **Infosys** fell over **6%** * **Tata Consultancy Services (TCS)** declined by **4.8%** * **HCL Technologies** shed **4.4%** Other sectors also faced heat, with metals and realty leading the broader decline. **Hindalco** emerged as a top loser, dropping over **5%**, followed by **Hindustan Unilever** and **Adani Enterprises**, which saw cuts of over **2.5%**. Currency and Global Context The Indian Rupee remained under pressure, trading at a record low of **90.57** against the US Dollar. In the commodities space, **Gold** prices rose by **1%** to reach **Rs 1,54,300 per 10 grams**, as investors moved toward safe-haven assets. The domestic slump followed a weak lead from Wall Street, where the **Nasdaq** tumbled **2%** and the **S&P 500** fell **1.5%** in the previous session. Resilience in Select Heavyweights While the broader market struggled, a few stocks managed to trade against the tide. **Bajaj Finance** led the gainers with a **2.02%** rise, supported by **Eicher Motors** and **Apollo Hospitals**. Banking heavyweights like **HDFC Bank** and **Bharti Airtel** also showed marginal resilience, preventing a deeper slide in the benchmark indices.
Madhusudan Kela on Navigating Market Volatility Through Conviction-Based Investing
Market Outlook 2026: Wealth Creation Amid Structural Shifts Market veteran Madhusudan Kela, promoter of MK Ventures, continues to advocate for a disciplined, long-term approach to the Indian equity markets. He maintains that investors should ignore short-term volatility and focus on the power of compounding, projecting that the historical **14–15%** compounding returns in Indian equities are likely to persist. His strategy emphasizes identifying resilient entrepreneurs and maintaining high-conviction bets in sectors such as financial services, manufacturing, and digital consumption. The Indian capital markets have reached a historic milestone in February 2026, with the National Stock Exchange (NSE) surpassing **25 crore** total trading accounts. The number of unique registered investors has climbed to **12.7 crore**, highlighting a massive expansion in domestic participation. This "J-curve" growth in retail involvement has transformed individual investors from passive participants into a dominant force that now holds approximately **19%** of the total NSE market capitalization. Systematic Investment Plan (SIP) inflows have become the bedrock of market stability. Average monthly SIP contributions rose to **₹28,766 crore** as of early 2026, up from **₹23,743 crore** a year prior. This consistent flow of domestic capital has provided a crucial cushion against global headwinds and foreign institutional outflows. Total assets under management in the SIP ecosystem now exceed **₹16.50 lakh crore**, reflecting a structural shift from speculative trading to long-term wealth creation. Economic indicators remain supportive of this optimistic outlook. The Reserve Bank of India (RBI) has projected a GDP growth of **7.3%** for FY26, supported by a significant cooling of inflation, which has averaged around **2.1%**. Corporate earnings, which saw a modest **5%** growth in FY25, are expected to accelerate significantly, with consensus estimates pointing toward **12–15%** year-on-year growth over the FY26–27 period. Market valuations have normalized following a period of consolidation. The Nifty 50, which traded at peak multiples of **25x** forward earnings in early 2025, has corrected to a more sustainable **20x–21x** trailing P/E. Analysts have set base-case targets for the Nifty at **29,120** by December 2026, with the Sensex potentially approaching the **1,00,000** mark within the next **18 months** if current breakout patterns hold. Key sectors currently under focus include manufacturing, driven by "Make in India" initiatives, and financial services, which remains the largest allocation in Kela’s portfolio. The IPO pipeline also remains robust, with an estimated **₹2.65 lakh crore** in upcoming issues, signaling continued confidence in the Indian entrepreneurial landscape. For the long-term investor, the current environment offers a balanced setup where earnings delivery and policy alignment are expected to drive the next leg of wealth generation.
IT Sector Outlook: Valuation Trends and AI Integration Opportunities according to Manish Sonthalia
Market volatility has intensified in the Indian IT sector as the Nifty IT index fell nearly 5% in a single session on February 13, 2026. This decline marks the worst weekly performance for the technology basket since March 2020. Total weekly losses for the index have reached 10.8%, dragging the year-to-date return to a negative 17.5%. Investors have wiped out over 4 lakh crore in market capitalization during this period. The sell-off is largely attributed to the "Anthropic Shock," following the launch of highly advanced AI automation tools that threaten the traditional labor-intensive outsourcing model. Large-cap heavyweights are bearing the brunt of the pressure. Infosys saw its share price tumble 6.3%, reaching its lowest point since April 2025. Tata Consultancy Services (TCS) dropped 4.9% to hit a fresh 52-week low. Other major players including HCL Tech and Wipro recorded declines between 3.5% and 4.7%. Despite the immediate panic, industry experts maintain a contrarian outlook. Analysts suggest that while AI may cause revenue deflation due to reduced manpower requirements, it will significantly boost profit margins. The sector is currently shifting from a manpower-based delivery system to an "asset-led" model. AI-centric engagements now account for approximately 74% of all new contracts signed by major firms over the last six quarters. Strategic pivots are visible across the Big Six. TCS has launched physical AI initiatives and sovereign cloud ecosystems, while Wipro is prioritizing agentic and embodied AI. Mid-cap and specialized firms like Persistent Systems and L&T Technology Services are increasingly viewed as high-growth AI infrastructure plays. India’s broader AI market is projected to reach 17 billion by 2027, supported by 70 billion in ongoing data center investments. Valuations for the Nifty IT index have moderated to a price-to-earnings ratio of 22.4, down roughly 25% from recent peaks. Institutional data shows that mutual funds have maintained strong positions, adding over 1 crore shares to several IT stocks in early 2026. The current correction is being framed by long-term investors as a transition phase rather than a sector collapse, as companies move from billable hours to high-impact, outcome-based revenue streams.
Market Outlook Driven by Trade Agreements and Execution Risks
Market Outlook: India 2026 India continues to navigate a complex global landscape, balancing robust internal growth with shifting international trade dynamics. While the long-term foundation is strengthening through deepened trade ties, the near-term market environment remains defined by a tug-of-war between strong domestic participation and cautious foreign flows. Economic Growth and Trade The growth narrative remains resilient, with real GDP projected to expand by **6.9%** in 2026. This performance positions India as a global leader in growth, even as it manages the impact of international trade shifts. A significant breakthrough occurred in early February 2026 with a new trade framework that saw reciprocal tariffs on Indian goods reduced from **25%** to **18%**. This adjustment is expected to provide an incremental boost of **0.2 percentage points** to the annual GDP. Furthermore, services exports continue to be a pillar of strength, maintaining a growth rate of approximately **11%** year-on-year, primarily driven by software and business services. Monetary Policy and Inflation The Reserve Bank of India (RBI) maintains a steady hand to preserve macro stability. In the February 2026 policy meeting, the Monetary Policy Committee unanimously held the repo rate at **5.25%**, maintaining a "neutral" stance. This follows a cumulative **125 basis point** reduction in rates during 2025. Inflation remains within a manageable range, with retail inflation recorded at **2.75%** in January 2026 under the new base series. Projections for the first half of 2026 suggest headline inflation will hover between **4.0%** and **4.2%**, providing the central bank with room to prioritize growth over aggressive tightening. Equity Markets and Capital Flows Equity markets have entered a phase of heightened sensitivity to earnings visibility and currency fluctuations. The Nifty 50 and Sensex have recently stabilized near the **26,000** and **84,300** marks, respectively. Foreign Institutional Investors (FIIs) have shown a mix of caution and selective interest, with recent single-session inflows of approximately **₹2,254 crore** providing temporary relief. However, the broader trend shows significant outflows as global investors wait for clearer recovery signals in corporate earnings. Domestic Institutional Investors (DIIs) continue to act as a stabilizing force, frequently absorbing foreign selling pressure. For instance, recent data showed DIIs as net buyers of over **₹2,600 crore** in a single day, supported by consistent retail participation through systematic investment plans. Currency and Liquidity The Indian Rupee is experiencing increased volatility as it transitions toward a more market-driven valuation. The USD/INR exchange rate has recently breached the **90.00** level, fueled by a widening trade deficit and delayed trade deal implementations. Analysts project potential pressure toward **92.00** by the third quarter of 2026, despite occasional central bank interventions. System liquidity remains comfortable, with a surplus averaging **₹70,000 crore** per day. The RBI has also utilized tools like open market operations and forex swaps, injecting roughly **₹6.3 trillion** into the banking system to support credit growth and market stability. Strategic Allocation Given the current volatility, a disciplined approach to asset allocation is essential. Blending equity exposure with stable fixed-income instruments—such as corporate bonds, which now feature new derivative options for better risk management—allows investors to stay aligned with India's expansion while mitigating short-term fluctuations. Priorities should remain focused on long-term time horizons rather than reactive trades to currency or flow-driven cycles.
Mutual Funds Increased Holdings by Over 10 Million Shares Across 9 Stocks in January 2026
Market Brief: Mutual Fund Activity January 2026 Institutional conviction remained high in January 2026 as mutual funds strategically expanded their portfolios. Despite a **14%** month-on-month dip in overall equity inflows to **24,028 crore**, fund managers displayed aggressive buying in specific high-growth counters. Total industry Assets Under Management (AUM) reached a milestone of **80.76 lakh crore**, supported by steady SIP contributions which held firm above the **31,000 crore** mark for the second consecutive month. High-Volume Institutional Additions Mutual funds added over **1 crore** shares each to nine specific stocks during the month. **Vodafone Idea** led the volume surge with a massive addition of **629 crore** shares. **HDFC Bank** followed with an increase of **3,351 crore** shares, despite the stock facing a price correction of **7%** during the period. This buying pattern signals a tactical shift toward value-based accumulation in large-cap and recovery plays. Professional fund houses appear to be using market volatility to consolidate positions in dominant market leaders and turnaround candidates. Performance Leaders and Price Gains Several stocks in the high-addition category delivered immediate returns for institutional investors. **Ujjivan Small Finance Bank** and **Union Bank of India** both recorded price gains of **18%** since the start of January. Mutual fund holdings in Ujjivan reached **47.9 crore** shares, while Union Bank exposure rose to **31 crore** shares. Other notable performers included **Bandhan Bank**, which saw a **17%** price appreciation, and **Tata Steel**, which climbed **16%** as funds increased their stake to **186.5 crore** shares. Strategic Sector Shifts While flexicap funds attracted the highest individual inflows at **7,672 crore**, there was a visible rotation into defensive and asset-backed instruments. Gold ETFs witnessed a record-breaking surge, with inflows doubling to **24,039 crore**, surpassing the total net inflows of the entire equity segment. In the equity space, funds showed high conviction in the energy and defense sectors. **Bharat Electronics (BEL)** and **ONGC** emerged as top picks, rallying up to **9%** in late January on the back of heavy institutional volume and strong order book visibility. Portfolio Consolidation Trends The market is currently seeing a "quality over quantity" approach. The number of unique stocks held by only a single fund house reached **240**, highlighting a push for differentiated alpha. Simultaneously, concentration in multibagger stocks increased; **253** stocks are now owned by more than **100** different mutual fund schemes. This indicates a clustering of institutional capital around proven performers in the engineering, financial services, and renewable energy sectors.
Info Edge Q3 Results: Consolidated PAT Increases 12% YoY to Rs 272 Crore, Revenue Grows 13%
Info Edge India Limited, the parent company of Naukri.com, has reported a steady financial performance for the third quarter of fiscal year 2026. Despite a volatile broader market environment, the digital services giant saw its consolidated net profit rise by 12% year-on-year, reaching 272 crore. Revenue from operations followed a similar upward trajectory, growing 13% to reach 819 crore for the quarter. This growth was anchored by a robust performance in standalone billings, which increased nearly 12% to 747.2 crore. Recruitment solutions remain the primary engine of the business, contributing 548.3 crore to total billings. Real estate portal 99acres also showed significant momentum with a 14.4% increase in billings, reflecting a healthy appetite in the property market. In a move to reward shareholders, the board has declared an interim dividend of 2.40 per share. The record date for eligibility is fixed for Friday, February 20, 2026, with payments expected to commence on or after March 9, 2026. The stock market environment has been challenging for the technology sector. On February 13, 2026, the Nifty IT index witnessed a sharp 4% decline as global concerns regarding artificial intelligence disruption triggered a sell-off in major tech stocks. Info Edge shares felt this pressure, touching an intraday low of 1,105 and trading near 52-week lows. The broader market also saw significant corrections, with the Sensex dropping over 900 points during the session to slip below the 83,000 mark. While the stock price has faced a downward trend over the past year, falling approximately 25%, the company's fundamentals remain supported by its diverse digital portfolio. Info Edge continues to maintain a debt-free balance sheet and is actively expanding its investment reach. The company recently announced a commitment of up to 1,000 crore to a new alternative investment fund. This initiative is designed to back emerging tech startups, continuing the strategy that saw early and successful entries into platforms like Zomato and Policybazaar. Policybazaar, a key part of the Info Edge investment stable, reached its own milestone this week by facilitating over 2,069 crore in term insurance claims, underscoring the growing maturity of India’s digital insurance landscape. The overall sentiment for the internet sector remains cautious due to high valuations and shifting global tech trends. However, Info Edge’s consistent revenue growth across recruitment and real estate verticals provides a level of operational stability amidst the current market volatility.
Federal Realty Investment Projects Annual FFO Above Estimates Amid Strong Leasing Demand
Federal Realty Investment Trust (NYSE: FRT) has updated its market outlook following a record-breaking 2025. The trust is positioning for steady growth through 2026, driven by an unprecedented surge in leasing activity and the continued resilience of grocery-anchored retail centers. 2026 Financial Targets The company introduced its 2026 guidance for Funds From Operations (FFO) in a range of **$7.42 to $7.52** per share. This represents a core growth of approximately **5.8%** at the midpoint. This forecast arrives as the REIT navigates a higher interest rate environment, specifically a **170–180 basis point** headwind caused by refinancing older, low-rate debt. Leasing and Occupancy Momentum Federal Realty ended 2025 with the highest annual square footage leased in its history. The portfolio is currently **96.6% leased**, with physical occupancy standing at **94.5%**. Rental demand remains aggressive. Comparable rent spreads—the difference between new and expiring leases—hit their strongest levels in over a decade. In the fourth quarter alone, the trust signed **105 comparable deals** with a **12% rental rollover** increase. This leasing pipeline has secured an incremental **$27 million** in new rent that is signed but not yet contributing to the bottom line. Strategic Asset Recycling The trust is actively refining its portfolio to unlock capital. During the recent period, it closed nearly **$340 million** in acquisitions, adding approximately **1 million square feet** of retail space in Maryland and Nebraska. Simultaneously, the company is offloading residential and non-core assets. It recently completed over **$325 million** in dispositions, including high-value apartment complexes. Management indicates that another **$400 million to $500 million** in additional residential assets could be candidates for sale throughout 2026. Market Position and Dividends Federal Realty maintains a market capitalization of approximately **$9.04 billion**. As a member of the "Dividend Kings," it recently marked its **58th consecutive year** of dividend increases, the longest record in the REIT industry. While the trust faces a **60–85 basis point** credit reserve for 2026 to account for potential tenant volatility, its focus on affluent, high-density suburban markets provides a defensive cushion. Residential expansion remains a key pillar, with a **$500 million** development pipeline currently underway to integrate luxury housing with its existing retail footprint.
Realty Stocks Decline as Technology Sector Volatility Impacts Market Sentiment
Market Brief: Real Estate Sector Volatility Indian real estate stocks faced a sharp downturn on **Friday, February 13, 2026**, as the **Nifty Realty index** plunged **2.78%** to a level of **818.90**. This sell-off marks a significant reversal from the post-budget rally earlier this month. The decline was most pronounced among developers with heavy exposure to the **Bengaluru** market. Investors are reacting to a broader tech-sector rout where the **Nifty IT index** tanked nearly **4%** to hit a four-month low. AI Disruption and Market Sentiment The primary catalyst for the slump is growing anxiety over **Artificial Intelligence (AI)**. New AI models and automation tools are raising fears of significant job rationalization within the IT services sector—the backbone of Bengaluru's property demand. Market participants are concerned that a reduction in white-collar hiring will lead to a **12% to 15%** drop in demand for mid-to-premium housing. Short-term traders are currently prioritizing these fears over the long-term infrastructure narrative. Key Stock Performance The impact was visible across major industry players during intraday trade: * **Prestige Estates:** Dropped **4.37%** * **DLF:** Declined **3.71%** * **Godrej Properties:** Fell **3.61%** * **Brigade Enterprises:** Slumped **3.38%** * **Sobha:** Down **1.65%** Despite this volatility, the sector had recently seen gains of up to **15%** following the **Union Budget 2026**, which allocated **₹3,000 crore** to urban housing and introduced tax holidays for data centers. Commercial and Residential Outlook In the commercial segment, global tech leaders have warned that AI’s impact on office space demand could eventually exceed that of the pandemic. However, some analysts argue the market is entering a "mature phase" rather than a collapse. Bengaluru’s rental market remains a outlier, with annual growth still holding at **15% to 20%** in hubs like **Indiranagar** and **Whitefield**. Current property prices in these tech corridors range between **₹7,000 and ₹10,500** per square foot. Summary of Indicators The **India VIX** rose **6.24%** today, reflecting heightened market volatility. While long-term forecasts suggest the real estate sector will contribute **15.5%** to the GDP by **2047**, the immediate outlook is clouded by technological transitions. Investors are now watching for stabilization in IT hiring and further clarity on interest rate cuts from the **Reserve Bank of India**, as the sector remains highly sensitive to both tech-sector health and borrowing costs.
Bitcoin trades near $66,000 as broader crypto market weakens
Bitcoin is currently trading near **$65,000**, reflecting a period of intense consolidation after a volatile slide from its late-2025 peaks. The market is attempting to find a stable floor following a rebound from the **$60,000** support zone, though selling pressure remains persistent. A significant shift in Federal Reserve expectations has fueled recent risk-off sentiment. The nomination of Kevin Warsh as the next Fed Chair has introduced a hawkish outlook, with markets now bracing for tighter monetary policy and higher real interest rates. Total crypto market capitalization has retreated to approximately **$2.26 trillion**. Institutional sentiment shows signs of caution, evidenced by net outflows from spot Bitcoin ETFs totaling **$276 million** in recent sessions. Volatility is currently compressed, with open interest sitting near **$23 billion**. This indicates that much of the previous market leverage has been flushed out. Analysts are closely watching a trading corridor between **$60,000** and **$70,000** as the primary zone for liquidity absorption. The immediate focus for traders is the release of U.S. Consumer Price Index (CPI) data. Both Headline and Core CPI are projected at **+0.3%** month-over-month. These figures will be critical in determining if the market can reclaim the **$71,000** level or if a deeper correction toward **$50,000** is likely. While short-term weakness prevails, long-term indicators remain active. Major entities continue to accumulate, with MicroStrategy recently acquiring **1,142 BTC** for **$90 million**, bringing their total reserves to over **714,000 BTC**. Technical resistance is firmly established at **$83,000**, while a breach below the **$60,000** psychological mark could trigger further liquidations. For now, the market remains in a "wait-and-see" phase, sensitive to every macro-economic update.
Nikkei Falls Following Wall Street Decline as SoftBank Group Shares Drop Nearly 9%
Japan's equity markets faced a wave of volatility this Friday as the Nikkei 225 index dropped 1.18% to settle at 56,958 points. The decline was largely triggered by a sharp sell-off on Wall Street, where renewed concerns over the sustainability of capital spending in the artificial intelligence sector weighed heavily on technology stocks. SoftBank Group emerged as the primary drag on the benchmark index. Despite reporting a fourth consecutive quarterly profit of approximately $1.6 billion—driven by valuation gains from its OpenAI investment—the stock plummeted 6.46%. Analysts noted a lack of positive surprises in the earnings report, leading investors to offload shares as the company is increasingly viewed as a proxy for the volatile U.S. tech market. In a sharp contrast to the broader tech slump, semiconductor heavyweights found solid footing. Tokyo Electron climbed 2.98% and Advantest rose 1.29%, buoyed by a robust long-term outlook for the global chip industry. Additionally, Kioxia Holdings surged 12% following strong quarterly results, highlighting a split in the technology sector between infrastructure providers and general investment firms. Nissan Motor provided a rare bright spot for the industrial sector, with its shares jumping 7.47%. The automaker reported a surprise quarterly profit and successfully trimmed its full-year loss projections. Market sentiment shifted as investors viewed the latest financial update as a sign of a potential turnaround, sparking significant short-covering activity. The energy sector faced headwinds as Inpex, the nation’s leading oil and gas explorer, saw its stock slide 10.98%. While the company recently beat expectations for the current period, its forward-looking projections for a 16% decline in annual net profit spooked shareholders. This pessimistic outlook overshadowed a record 293.4 billion yen profit achieved in the first nine months of the fiscal year. Broader economic indicators show Japan’s economy growing at a moderate pace, with the 2024 October-December GDP rising at an annualized rate of 2.8%. However, persistent high interest rates in Western markets and shifting U.S. trade policies continue to create a cautious environment for Japanese exporters. The Japanese yen remains under pressure, trading near the 153.30 mark against the U.S. dollar. While a weaker yen typically benefits exporters, the current market focus remains pinned on upcoming U.S. inflation data and its potential impact on future central bank policies both domestically and abroad.
TCS Shares Reach Five-Year Low Following 44% Decline From Peak
Indian IT Market Brief: February 13, 2026 The Indian Information Technology sector is facing a severe valuation correction as artificial intelligence disruption shifts from theoretical risk to market reality. **Tata Consultancy Services (TCS)** has seen its share price sink to a fresh 52-week low of **₹2,579**, marking a significant decline from its previous stability. The downturn has erased over **₹1.3 lakh crore** in investor wealth across the Nifty IT index in just two sessions. This rout has pushed the market capitalization of TCS below the psychological **₹10 lakh crore** mark, currently sitting at approximately **₹9.45 lakh crore**. Consequently, State Bank of India has overtaken TCS as India’s fourth most valuable listed company. The Anthropic Shock The primary catalyst for the current sell-off is the "Anthropic Shock." The US-based AI startup recently launched specialized tools capable of automating high-value legal and coding tasks. This development has sparked fears that traditional billable-hour models used by Indian firms are becoming obsolete. Global sentiment has soured further following a steep decline in US-listed tech stocks. **Infosys ADRs** plummeted nearly **10%** overnight, while **Wipro ADRs** fell by **4.6%**. The Nasdaq’s recent **2.03%** drop continues to weigh heavily on Indian providers that rely on North American clients for the bulk of their revenue. Sector-Wide Impact The Nifty IT index has emerged as the worst-performing sectoral index, falling over **4%** in a single day. Other major players have not been spared: * **Infosys** shares hit a low of **₹1,298** * **HCL Tech** declined by **4.32%** to **₹1,412** * **Wipro** dropped to **₹209** Beyond AI fears, macroeconomic factors are compounding the pressure. Stronger-than-expected US jobs data has dampened hopes for imminent interest rate cuts by the Federal Reserve. A strengthening Indian Rupee, hovering near **90.27** against the Dollar, is also expected to squeeze profit margins for exporters who earn primarily in foreign currency. Shifting Fundamentals Institutional investors are actively rotating capital out of IT and into domestic-heavy sectors like banking. While TCS reported a **5%** year-on-year revenue increase to **₹67,087 crore** in its latest quarterly results, its net profit fell by **14%** to **₹10,657 crore**. This divergence highlights the rising costs of competing in an AI-first economy. The market remains in a "sell-on-rise" mode as technical indicators show IT stocks trading well below their 200-day moving averages. Analysts suggest that the sector's recovery will depend on how quickly these firms can integrate generative AI into their own delivery models to protect their long-term pricing power.
AI-Driven Volatility Impacting Markets Amid Potential Earnings-Led Recovery: Vinit Sambre
Indian Equities Outlook: February 2026 The Indian equity market is demonstrating significant resilience as it navigates a complex global environment. While AI-led disruptions have recently rattled international technology sentiment, domestic indices are maintaining a constructive stance. The **Nifty 50** is currently hovering near the **26,000** mark, showing a steady positive bias supported by robust internal growth drivers. The macroeconomic foundation for 2026 remains exceptionally strong. India's **GDP** is projected to grow between **6.8%** and **7.2%** for the upcoming fiscal year. This expansion is anchored by anchored inflation and a series of structural reforms, including a simplified **GST** structure and significant income tax relief that has bolstered middle-class disposable income. Sectoral Leadership and Earnings Banking and financial services are spearheading the current market momentum. The **Bank Nifty** is consistently testing levels above **60,700**, driven by healthy asset quality and steady credit demand. Experts anticipate a mid-teens earnings growth for the sector as net interest margins stabilize and private lenders capture expanding market share. Consumer discretionary and automotive sectors are also emerging as key performers. Recent tax revisions have resulted in a **5%** to **10%** cost reduction across various auto categories, sparking a surge in demand. Retail activity remains vibrant, with automobile registrations climbing **18%** year-on-year, reflecting a highly optimistic consumer sentiment. Valuation and Momentum Valuations are currently viewed as reasonable, with the **Nifty** trading at approximately **20.5x** one-year forward earnings. This alignment with long-term historical averages suggests that the market is focusing on business momentum rather than temporary price corrections. Foreign Institutional Investors (FIIs) have recently returned as net buyers, reflecting renewed confidence after a period of volatility in 2025. This shift is partly attributed to a landmark trade agreement between India and the United States finalized in early **February 2026**, which has reduced export-related uncertainties for domestic manufacturers. Key Performance Indicators * **Nifty 50 Index**: Trading around the **25,950** level. * **Sensex**: Maintaining a base near **84,200**. * **GDP Forecast**: **7.4%** for FY 2025-26 with upside risks. * **Interest Rates**: Repo rate reductions of **125 bps** over the past cycle. * **Industrial Production**: Accelerated to **4.8%** growth in the latest half-year report. The combination of supportive monetary policy and targeted fiscal incentives is creating a fertile environment for domestic equities. Investors are increasingly prioritizing quality large-cap stocks and sectors benefiting from the "Quick Commerce" boom and green energy transitions. As corporate balance sheets remain lean and deleveraged, the path for a sustained recovery into the second half of **2026** appears well-defined.
Indian Gold Prices Slip to Discount for First Time in Nearly a Month
Domestic gold prices in India are witnessing a rare shift as physical demand struggles under the weight of historic highs. For the first time in a month, local prices have slipped into a discount relative to international benchmarks. Market rates for 24K gold currently hover around **₹15,578 per gram**, with 10-gram futures on the MCX trading near the **₹1,58,540** level. This represents a significant correction from the record peak of **₹17,885 per gram** reached in late January 2026. Despite jewellers offering concessions to stimulate interest, consumer activity remains subdued. The high cost of entry has led to a projected **24% drop** in jewelry demand for the year. Total Indian gold demand is forecasted to fall between **600 and 700 metric tons**, a five-year low, as volatile price swings outpace household budgets. In contrast, China is experiencing a surge in physical gold interest. Ahead of the Lunar New Year, wholesale demand remains robust with withdrawals from the Shanghai Gold Exchange reaching **126 tons** in January. Chinese gold ETFs have also seen record-breaking momentum, with inflows of **RMB 44 billion** (approximately **$6.2 billion**). This trend is supported by retail investors seeking a hedge against domestic market volatility and a cooling real estate sector. The People's Bank of China continues its aggressive diversification strategy. The central bank recently reported its 15th consecutive month of gold acquisitions, adding **1.2 tons** to bring its official reserves to **2,308 tons**. Gold now constitutes approximately **9.6%** of China's total reserve assets. Globally, the market is adjusting to a stronger US dollar and shifting interest rate expectations. Spot gold recently dipped below the psychological **$5,000 per ounce** threshold, triggering technical sell-offs. However, analysts maintain a bullish long-term outlook, with price targets for late 2026 ranging between **$5,200 and $6,000 per ounce**. In the Indian market, investment demand is the primary outlier. While jewelry sales have crashed, gold investment via bars, coins, and ETFs grew by **17%** recently. Many investors are pivoting to the metal as a safer alternative to the underperforming domestic equity indices.
Kumar Rakesh Positions Select IT Stocks Amid AI-Driven Market Volatility
India IT Market Brief: The AI Transition The Indian IT sector is currently navigating a complex "two-phase" transformation as Artificial Intelligence shifts from an experimental tool to a core production driver. While the market is experiencing immediate friction, the long-term outlook remains anchored by a projected industry valuation of **$350 billion** by the end of 2026. Current Market Sentiment and Performance Equities are reflecting near-term anxiety over AI-led disruption. As of **February 13, 2026**, the **Nifty IT Index** has seen significant volatility, trading around the **33,160** level. This represents a sharp monthly decline of approximately **12.7%**. Major constituents such as **TCS** and **Infosys** have faced selling pressure, with the index down roughly **13%** year-to-date. This "front-loaded" disruption is driven by fears of revenue deflation as automation reduces the manpower required for traditional legacy contracts. Spending and Growth Forecasts Despite the stock market correction, enterprise spending in India is accelerating. Total IT spending is forecast to reach **$176.3 billion** in 2026, a **10.6%** increase from the previous year. Investment is heavily concentrated in two areas: * **Data Center Systems**: Projected to grow by **20.5%** as AI infrastructure demand peaks. * **Software**: Expected to rise **17.6%**, reaching **$24.7 billion** as GenAI becomes an embedded standard in applications. The Deflationary vs. Inflationary Tug-of-War The sector is moving through a "revenue deflation" phase. AI agents are now capable of reducing claims processing or coding tasks from minutes to seconds, allowing firms to execute the same volume of work with less labor. However, analysts suggest this is a neutral long-term outcome. The decrease in billable hours is being offset by a transition to **asset-led models** and outcome-based pricing. As companies shift from "running" business to "transforming" it, new inflationary opportunities are emerging in consulting and complex system integration. Labor Market and Talent Shifts The job market is seeing a decisive "capability gap." While routine back-office roles face high risk, demand for specialized AI skills has caused a **28% wage premium** for AI-focused roles compared to non-AI counterparts. India currently leads global AI talent acquisition with a hiring rate of **33%**. This specialized talent is increasingly concentrated in southern hubs, with **Bangalore** and **Hyderabad** accounting for over **20%** of all AI-specific job postings. Looking Ahead The structural transformation is expected to stabilize by the second half of 2026. As Fortune 500 clients begin reporting concrete productivity gains from their AI investments, the focus for Indian IT providers will shift from headcount-based growth to margin-rich, platformized delivery. The current valuation correction is viewed by some analysts as an overreaction to the initial automation shock, overlooking the massive infrastructure cycle currently underway.
Sameer Dalal Identifies Market Value in Consumption, Cement, and Tourism Sectors
The Indian equity landscape is navigating a period of recalibration following the Union Budget for fiscal year 2026-27. While headline indices have faced pressure, market experts like Sameer Dalal are identifying significant value in domestic-facing sectors. The core investment thesis centers on a 1-to-2-year revival cycle in consumption and industrial infrastructure. The Nifty 50 and Sensex recently adjusted to new fiscal realities, settling around 24,825 and 80,722 respectively. This correction has been attributed to a rare Sunday trading session and an increase in the Securities Transaction Tax. However, the Nifty India Consumption Index remains a focal point, trading near 11,976 with a price-to-earnings ratio of 40.66, reflecting continued investor confidence in the domestic demand story. India is on a trajectory to become the world's third-largest consumer market by 2026, surpassing Germany and Japan. Real GDP growth for the 2025-26 fiscal year is projected at a resilient 7.4%, supported by a cooling but steady manufacturing PMI of 59.5. This structural shift is being driven by a growing affluent class and a significant rise in discretionary spending power. The discretionary consumption and tourism segments are witnessing a noticeable uptick. Recent policy moves, such as the reduction of Tax Collected at Source to 2% on outbound tours, have provided a psychological and financial boost to the sector. Major players in the hospitality space are benefiting from a shift toward experience-led travel, with specialized indices highlighting stocks like Trent and Indian Hotels as key beneficiaries of this trend. The cement sector is emerging as a compelling, often overlooked opportunity. Domestic demand is projected to grow by 7% to 8% annually through 2026, fueled by a record capital expenditure outlay of 12.2 trillion INR in the latest budget. Top producers are preparing to invest approximately 1.25 lakh crore INR between 2025 and 2027 to expand capacity by 130 million tonnes. Infrastructure projects, including high-speed rail corridors and urban development in tier-2 and tier-3 cities, are providing long-term demand visibility for the building materials sector. With operating profits in the cement industry expected to rise by 12% to 18% in the coming fiscal year, the segment offers a defensive yet growth-oriented hedge against global volatility. Investors are increasingly looking past short-term market noise to focus on these domestic structural plays. The combination of tax relief for the middle class, massive government infrastructure spending, and a maturing digital economy creates a robust environment for consumption-led portfolios. The focus remains on quality domestic businesses that can capitalize on India's 2.4 trillion USD household consumption base.