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Upasana Chachra stated that the Union Budget strikes a balance between fiscal consolidation and growth support.

Radhika Gupta of Edelweiss MF highlights the re-rating of India s stock market, particularly noting the potential in consumption stocks despite their higher PE multiples. She discusses the launch of a new consumption fund, its diverse categories, and the expected recovery in consumption earnings.

PVR Inox reported 180% YoY profit growth to Rs 35.9 crore in Q3 FY25, with revenue rising 11.1% YoY to Rs 1,717.3 crore. Blockbuster movies boosted ticket prices (Rs 281) and spending (Rs 140). The company attracted 37.3 million patrons, saw record ad revenue (Rs 148.6 crore), and expanded with 11 new screens.

The stock market rally, fueled by Budget optimism and RBI policy expectations, highlights FMCG and banking as top investment picks. FMCG benefits from tax reforms and easing inflation, while banking thrives on strong earnings. Asian Paints dip presents a tactical opportunity.

Revenue from operations in Q3 is expected to surge 22% YoY, based on estimates from four brokerages, while net profit may rise over 30% YoY. Strong volume growth drove this performance, with auto segment sales up 17% YoY and farm segment sales increasing 20% YoY, reflecting the auto major’s solid momentum in both markets.

The slowest growth rate since the pandemic reflects moderation across key sectors, driven by high interest rates, persistent inflation—especially in food commodities—weak urban consumption, and sluggish capital expenditure. This marks a sharp drop from 8.2% growth in FY24. Notably, the RBI cut its FY25 growth forecast to 6.6% from 7.2% in its December 2024 policy.

Japan s Nikkei share average rose 0.6% to 39,066.53 on Thursday, boosted by gains in Wall Street and strong U.S. tech shares. Expectations of future rate hikes by the BOJ appreciated the yen, impacting exporter shares. Renesas Electronics surged 12.6%, and Honda slid 4%.

Upasana Chachra, Chief India Economist at Morgan Stanley, lauds the Union Budget for balancing consumption, fiscal consolidation, and capex, predicting a broad cyclical recovery. She expects the RBI to start an easing cycle to further support growth. Fiscal deficit is on target, and liquidity measures have shown some improvement but require more action as fiscal year-end approaches.

Strategy, the biggest corporate holder of bitcoin, reported a fourth consecutive quarterly loss on Wednesday as the company booked an impairment charge on its stockpile of the cryptocurrency.