In this episode of Market Masters Helios Capital CEO Dinshaw Irani explains why Indian midcap and small-cap stocks are outperforming large caps and attracting active foreign investors. Irani analyzes the resilient earnings season, improving market sentiment and the investment strategy behind the Helios Mid Cap, Small Cap and Flexi Cap funds. He discusses opportunities in new-age platform companies, NBFCs, auto ancillaries, tractors, industrial equipment, hospitals, diagnostics and domestic consumption. Irani explains why Helios remains cautious on large-cap IT services, U.S.-facing pharmaceutical companies, PSU banks and expensive exchange stocks. He also shares his outlook for private-sector capital expenditure, foreign institutional flows, the Indian rupee and FCNR deposits. Watch this detailed analysis to understand the sectors, earnings trends and stock-selection themes shaping India’s evolving bull market and future portfolio opportunities for long-term equity investors.
Google Assistant is officially stepping aside for Gemini, e-commerce giants are prepping massive festival discounts, vivo and Redmi are shaking up the mid-range and budget segments, and Meta faces strict warnings from the Indian government over deepfakes and algorithmic accountability. Here is your weekly tech download on Tech Gear, brought to you by our AI anchor, Sana! In this week's wrap-up, Google is fully replacing Assistant on Android and WearOS starting this September with no option to switch back, while major price cuts on iPhones and more are right around the corner with upcoming Flipkart and Amazon sales. On the hardware front, vivo has brought its S-series back to the premium mid-range with the Dimensity 7360-Turbo powered vivo S2 starting at ₹39,999, and Xiaomi is dropping the budget-friendly Redmi Note 17 onto major online platforms this week. Meanwhile, regulatory heat is rising as Meta CEO Mark Zuckerberg formally apologises to the Indian government over deepfakes and erroneous video takedowns, prompting warnings regarding legal safe harbour protections. Make sure to follow Business Today TV and comment your thoughts below on whether you are ready for the Gemini takeover!
India’s stock market sentiment has improved as quarterly earnings show surprising resilience. Dinshaw Irani, CEO, Helios Capital, says mid-cap and small-cap companies have delivered stronger earnings growth than large caps, with growth in the early 20% range for mid caps and late 30% range for small caps. FPI outflows have also stopped, with foreign investors slowly returning to Indian equities. India has outperformed emerging markets and global indices in recent months, potentially prompting foreign investors to reconsider their underweight positions. Dinshaw Irani believes continued strong performance could attract more global capital into Indian markets.
RBI Governor Sanjay Malhotra said India’s economy and banking sector remain well-positioned to handle emerging risks and challenges. Highlighting strong banking fundamentals, he pointed to healthy capital ratios, low gross and net non-performing assets, strong liquidity and profitability. Malhotra said inflation is “more or less under check” and noted that India’s macroeconomic fundamentals remain robust, with resilient growth, healthy balance sheets and strong foreign exchange reserves. He added that past crises, including COVID-19 and the Ukraine crisis, have strengthened India’s ability to respond to shocks. While current risks could temper short-term growth, Malhotra expressed confidence in India’s long-term economic resilience and stability.
Financial services are emerging as a key focus area for investors as India’s consumption story gains momentum. Dinshaw Irani, CEO, Helios Capital, says NBFCs play a crucial role in providing last-mile financing that supports consumption across the economy. His investment strategy has increased exposure to the broader BFSI space, with a stronger focus on financial services rather than traditional banks. The strategy also includes direct exposure to capital-market companies. Irani believes NBFCs, fintech-linked businesses and capital-market players could benefit as financial participation and consumption expand, making financial services an important part of India’s long-term growth story.
India has gifted five peacocks to the United Nations office in Geneva, reviving a unique diplomatic tradition that began 45 years ago. Four are India's iconic blue peacocks, while the fifth is a rare white male. The birds will roam freely across the grounds of the Palace of Nations, continuing a centuries-old tradition linked to the land's original bequest. In 1981, then Prime Minister Indira Gandhi sent a breeding pair of peacocks from Delhi Zoo to Geneva. After decades of natural reproduction, the population eventually dwindled to just one bird. Now, India's latest gesture gives the tradition a fresh start—symbolising India's heritage, India-UN friendship and international cooperation.
Lower Primary School Teacher rank holders have been camping outside the Keralam Secretariat in Thiruvananthapuram for over a month, demanding immediate appointments from the LPST rank list published in May 2025. The agitation is being led by the All Keralam Lower Primary School Teacher Rank Holders' Association. Association secretary Valarmathi S has been on an indefinite hunger strike for over a week, while other rank holders have joined the fast. Protesters have also staged a symbolic grass-eating demonstration to highlight what they call government apathy. They are demanding appointments, transparency and a revised teacher-student ratio of 1:25. The protest has now drawn political attention, with ABVP holding a solidarity march.
RBI Governor Sanjay Malhotra highlighted the central bank’s key regulatory priorities at FIBAC 2026: financial stability, customer-centricity, ease of doing business and reducing the cost of financial intermediation. He noted progress in strengthening capital and prudential frameworks, supervision and Basel III implementation. Malhotra also outlined steps to reduce regulatory burdens, digitise approvals, streamline business norms and improve access to credit. Measures covering acquisition finance, priority-sector lending, project finance and alternative investment funds are expected to support credit flow to deserving sectors. He said reforms aimed at reducing intermediation costs, including changes to liquidity, reserve and deposit norms, will continue as ongoing work.
Tamil Nadu Chief Minister Vijay has made a strong push for Tamil identity, with the state Assembly unanimously passing a resolution making Tamil Thai Vazhthu the first song at official events. Vijay said the Tamil invocation is not against Indian unity, but reflects the love, pride and courage of Tamilians. The move received support across party lines, with both the AIADMK and DMK backing the resolution. The decision comes amid a wider debate over the order of Tamil Thai Vazhthu, Vande Mataram and the national anthem at official functions. Vijay's move marks a fresh assertion of Tamil linguistic and cultural identity.
Is India's proposed FCRA Bill 2026 targeting foreign-funded NGOs and Christian organisations? After criticism from US lawmakers, including Congressman Riley Moore, India's Ambassador to the US Vinay Mohan Kwatra has issued a detailed "Myth vs Reality" defence of the legislation. New Delhi says the bill does not ban foreign funding or target any religion, but seeks greater transparency, accountability and oversight of foreign contributions. The government also says assets created from foreign funds would be subject to a defined process if an organisation's FCRA registration ends. Critics, however, remain concerned about government powers over civil society and religious institutions. So what does the bill actually say?
Western Colombia has been rocked by a powerful 7.4-magnitude earthquake, the strongest to hit the country in a decade. The quake struck near San José del Palmar in the Chocó region, with powerful tremors felt across Colombia and neighbouring Venezuela, Ecuador and Panama. At least 20 structures collapsed in Cali, leaving people trapped under debris, while rescue teams and volunteers searched for survivors. Operations were also suspended at six airports, with dramatic footage showing passengers taking shelter during the tremors. Two aftershocks were recorded following the main quake. Authorities have launched emergency response operations as the region assesses the damage from the devastating earthquake.
BSE’s entry into the Nifty 50, replacing Wipro, marks a major shift in India’s capital markets landscape. Ajay Bagga, Sr. Market Veteran, says the inclusion reflects the strong growth of BSE’s free-float market capitalisation and highlights the broader strength of capital-market companies. Exchanges, brokerages, registrars, depositories, AMCs and insurers are benefiting from rising financialisation of household savings. Ajay Bagga explains why exchanges can act like “toll booths” as market volumes grow, generating strong returns despite relatively low margins. With equity participation in household financial assets still low in India, he believes increasing participation could create significant long-term opportunities for capital-market stocks.
India’s GLP-1 drug market is witnessing rapid growth, crossing ₹220 crore in sales in the year to July, according to PharmaTrac data. The market has grown 235%, with tirzepatide emerging as the biggest growth driver after its sales increased more than tenfold over the past year. Semaglutide also recorded a sharp recovery in July, driven by growing competition from generic brands. Business Today’s Neetu Chandra explains how 33 generic injectable brands are competing in the semaglutide segment, while Ozempic and Wegovy continue to see higher unit sales. The data highlights the fast-changing dynamics of India’s obesity and diabetes drug market.
Indian markets remain cautious as investors track inflation, oil prices and monsoon trends. Ajay Bagga, Sr. Market Veteran, says an uneven monsoon across several states could put pressure on food prices in the coming months, while elevated oil prices and Iran-related energy disruptions remain key risks. The US debate over sanctions on countries buying Russian oil could add further uncertainty. However, earnings downgrades have stopped, with sales holding up and domestic sectors such as real estate, autos and financials performing well. Ajay Bagga expects the RBI to remain on pause for the next few months, with a stronger rupee and oil prices influencing inflation and monetary policy.
Indian markets remain in a wait-and-watch phase as investors track key triggers for the next move. Ajay Bagga, Sr. Market Veteran, highlights three crucial indicators: foreign portfolio investor (FPI) flows, global oil prices and the rupee. Earnings have been encouraging, with sales growth outperforming profit growth, but higher input costs are pressuring margins. Domestic cyclicals, financials, infrastructure and power are performing better, while oil-dependent sectors remain under pressure. IT stocks have recovered in July, although earnings need to support valuations. Ajay Bagga also discusses the impact of FCNR flows on rupee stability and explains why oil prices and FPI flows could remain critical for Indian equities.
Pharma and healthcare stocks are attracting renewed investor interest, with multiple growth drivers emerging across the sector. Ajay Bagga, Sr. Market Veteran, remains bullish on pharma, highlighting Indian generics as several drugs go off patent. He also points to strong growth in hospitals, diagnostics and the CDMO segment. Private equity interest in hospital companies is another key trend, bringing fresh growth capital into the sector. Ajay Bagga says pharma can also act as a useful portfolio diversifier. While he does not recommend specific stocks, he believes investors should closely track pharma and especially hospital companies as healthcare investment and consolidation continue to increase.
Commerce and Industry Minister Piyush Goyal outlined GeM’s next decade of growth, calling for a smarter, AI-enabled and more inclusive government procurement ecosystem. He highlighted that over 2.25 lakh women-led enterprises have secured orders worth nearly ₹1 lakh crore, while more than 42,000 startups have conducted business with government enterprises worth around ₹66,000 crore. Goyal said GeM is being revamped with a new AI-enabled platform to improve price intelligence, transparency, competition and marketplace integrity. He also outlined five priorities: last-mile access, AI-driven intelligence, deeper integration, easier credit and sustainable procurement, and university outreach to bring young innovators into public procurement.
The Taxation and Other Laws (Amendment) Bill, 2026 sparks a sharp exchange in Parliament over the future of UPI payments and the possibility of a Merchant Discount Rate (MDR). CPI(M) MP John Brittas questions whether charges imposed on merchants could eventually be passed on to consumers, arguing that millions of Indians were encouraged to adopt digital payments and UPI. Finance Minister Nirmala Sitharaman counters that the Bill does not impose any tax or transaction charge on UPI users, and says no MDR framework has been finalised. She explains that an enabling provision would allow the government to specify electronic payment modes protected from charges, while the UPI and Services Steering Committee would decide whether any MDR should be introduced and what its scope and structure would be. Watch this Brittas vs Sitharaman face-off for the key arguments on UPI charges, MDR and the future of digital payments in India.
Ranchi witnessed intense student protests as demonstrators marched towards the Jharkhand Assembly, demanding cancellation of the 14th JPSC-JSSC examination and a CBI probe into alleged irregularities in recruitment exams. Students breached multiple barricades during the Vidhan Sabha Gherao, prompting police to use water cannons, tear gas and lathicharge after protesters entered the Assembly premises. Fasting student leader Devendra Nath Mahto joined the march on a stretcher. Meanwhile, BJP leaders staged a gherao outside Chief Minister Hemant Soren’s residence and demanded his resignation, with several leaders detained by police. The state government maintained that most student demands have already been addressed, but protesters continue their agitation.
What is Dell’s vision for India’s laptop and PC market? In this exclusive interview, Chris Cowger, Senior Vice President, Global Consumer & eCommerce at Dell, talks about Dell’s India strategy, AI-powered PCs, the future of laptops and how computing is evolving. We also take a first look at Dell’s new XPS 13 and Alienware 15 laptops launched in India.
Indian stock markets remain volatile as rising crude oil prices and geopolitical tensions weigh on sentiment, while IT stocks offer some support. With the Nifty and Sensex giving up early gains and investors tracking FII flows, Q1 earnings and the oil-price trajectory, where are the real opportunities in the market? In this conversation with Business Today anchor Shailendra Bhatnagar, Asit Bhandarkar, Senior Fund Manager – Equity at JM Financial AMC, discusses his outlook on smallcaps, IT, banks, financials, consumption, valuations, crude oil, FII flows and the next phase of the Indian equity market. Watch the full interview for his views on where investors should look for value amid the current market volatility
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