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With the government lowering goods and services tax (GST) on two-wheelers powered by engines up to 350cc to 18% from 28%, manufacturers are recalibrating product strategies to step up launches in the 300-350cc segment, said industry executives.Companies such as Hero MotoCorp, Royal Enfield, Honda Motorcycle & Scooter India and Bajaj Auto are all accelerating efforts to either enter into or expand their presence in this segment. "The next round of launches will aim for maximum performance within 350cc," said an executive at a leading motorcycle maker, who did not wish to be identified. "It's the sweet spot for both taxation and demand." 124676675 Two-wheelers above 350cc fall under the steep 40% tax bracket for 'luxury' items, following the revision by the GST Council last month, necessitating a strategic reset on the part of the manufacturers in a price-sensitive market like India.Bajaj Auto executive director Rakesh Sharma said, "The sub-350cc segment will clearly benefit more, and we'll look to strengthen our portfolio there. The industry has already passed on the GST rate cuts, which should lift overall performance."Honda Motorcycle & Scooter India, which has had early success with its 350cc models, is doubling down on this range. "Our 350cc models have been well accepted by customers, reinforcing confidence in this segment," said Yogesh Mathur, director, sales and marketing. The company is also pushing for network expansion to tap into new markets.Meanwhile, Hero MotoCorp and Bajaj Auto have confirmed new launches in the 300-350cc category by early 2026. Even Royal Enfield, whose flagship models hover near the tax threshold, is reportedly tuning its future powertrains to stay within 350cc, without compromising on performance.Executives said that with pricing no longer the primary lever, manufacturers are digging deep into engineering. The goal is to deliver more performance, better refinement and premium features within the 350cc ceiling.Engineers are focusing on smarter electronic fuel mapping, lighter components and tighter combustion control to maximise torque and efficiency from smaller engines. "It's not downsizing," an industry insider said on condition of anonymity. "It's making 350cc the new benchmark for aspirational biking."This engineering push is also redefining expectations. Upcoming models are expected to include features once reserved for premium bikes: digital dashboards, traction control, Bluetooth connectivity and riding modes, all aimed at "premiumising" the mid-range segment.The impact on higher-displacement bikes has been swift. Models in the 400-650cc bracket, long considered aspirational for urban riders, are now seeing a decline in demand, especially outside major metros. The price hikes of ₹25,000-60,000 following the revision to GST slabs have made these offerings less accessible."It's impossible to offset a 22 percentage point tax handicap on bikes above 350cc through innovation or features alone," Sharma said.To be sure, this does not imply that the premium two-wheeler segment will collapse.

Car market leader Maruti Suzuki India on Saturday said it expects to have record sales on Dhanteras clocking over 50,000 units, while rival Hyundai Motor India also posted over 20 per cent growth over last year at about 14,000 units. This year Dhanteras is spread over two days as it was in the last year between Saturday and Sunday. Although many customers hesitate to buy the metal on Saturday, Maruti Suzuki India is expecting to reach around 41,000 deliveries today, company Senior Executive Officer, Marketing & Sales, Partho Banerjee told reporters in an interaction. "This is going to be the all-time high deliveries, which we have done during the period of any time. Moreover, we are expecting that there will be another 10,000 customers who have hesitated to take the delivery today, due to Saturday, they will be taking the delivery tomorrow," he noted. He further said,"We are expecting to cross even the 50,000 mark." The company's production team is also working even on holiday to meet Dhanteras demand, Banerjee said. The company's previous highest Dhanteras sales was last year when it clocked around 41,500 units, he added. Due to the "GST 2.0 magic" many of the customers are flocking to the showrooms, he said, adding in many of the places the company may not be in a position to give vehicles unless bookings and deliveries are not taken on time. Expressing similar views, Hyundai Motor India Ltd MD & CEO Designate Tarun Garg said,"We are witnessing strong customer demand, with deliveries expected to be around 14,000 units approximately, 20 per cent higher than last year. The positive momentum is driven by the festive spirit, a buoyant market environment and the encouraging impact of GST 2.0 reforms." He also noted that this year, Dhanteras deliveries are spread across multiple days because of it being a Saturday. When asked about the overall festive season sales starting from Navratri, Banerjee said for Maruti Suzuki the traction has been very good and the company has been "getting close to 14,000 bookings every day on average". Since September 18, when the company reduced prices, he said, "Almost 4.5 lakh bookings have come in one month and small car booking is almost touching one lakh. We have already touched close to 94,000 small cars." On the retail side, he said, "In this one month period it is close to 3.25 lakh units (for the company)." On the consumer electronics side, Panasonic Life Solutions Director and Head- Sales consumer division, Sandeep Sehgal said, "This Dhanteras, we are witnessing a strong customer turnout since morning, with robust demand across product categories." He further said, "Large screen TVs, particularly those of 55 inches and above, are leading the momentum, contributing to a 4K sellout growth of over 36 per cent from October 1 to 17. Overall, we anticipate around 30 per cent growth in both the TVs and RAC categories compared to last year's Dhanteras." Tanishq Senior Vice President Arun said, "We are seeing a healthy mix of purchases - from investment-driven buys above Rs 2 lakh to high demand for lightweight jewellery and gold coins around Dhanteras." This festive season has been uniformly strong across markets, with consistently encouraging responses from metros as well as Tier-2 and Tier-3 towns, he added. Haier Appliances India also said the sell-out is good this Dhanteras, led by premium products such as large screen TV sets, side-by-side refrigerator and front-load washing machine. "We expect growth of more than 50 per cent," said Haier India President N S Satish. According to him, the growth is helped by the reduction in duty under the latest round of GST reforms in which the government has reduced duties on products such as air-conditioners, TV (32-inch and above screen size) and dishwashers.Besides, reduction on the duty of other daily essential goods has also indirectly put more money in the hands of customers.

The markets traded with a clear upward bias through the previous week and ended on a strong positive note. Nifty continued to march higher while posting gains for the third consecutive week. It oscillated in a wider intra-week range of 720.95 points as it traded between 25,060.55 and 25,781.50. However, even as the headline index gained ground, the market breadth remained relatively weak throughout the week—a key concern amid the rise. Meanwhile, India VIX spiked by 15.07% to 11.62, signalling a rise in near-term volatility expectations. Nifty ended the week with a net weekly gain of 424.50 points (+1.68%).The key highlight of the week was Nifty’s breakout above the symmetrical triangle pattern it had been coiling within for several months. This breakout came with a close near the upper Bollinger Band and has pulled the support levels significantly higher to the 25,300–25,400 zone. However, the rally has come on the back of weak market breadth, raising questions about the participation and sustainability of the move. 124666192Additionally, the sharp spike in India VIX further injects an element of caution as it reflects rising hedging activity. While the price structure has turned bullish post- breakout, the lack of strong internals and surge in volatility suggest the rally could be vulnerable if not supported by broader market strength.Given the technical breakout, the markets may look to start the coming week on a stable to positive note. However, traders must remain mindful of the week being a shortened one. Tuesday’s session will be limited to an hour-long Mahurat Trading in the evening, and Wednesday is a market holiday. For the week ahead, immediate resistance is expected around the 25,850 and 26,000 levels. Supports have now shifted higher and rest at 25,520 and 25,400 zones following the breakout. The weekly RSI stands at 60.88. It has formed a 14-period high, but remains neutral and does not show any divergence against the price. The MACD on the weekly chart is bullish as it trades above its signal line. A bullish candle has formed near the breakout point, confirming the move out of the symmetrical triangle and validating the strength of the breakout for now.From a pattern analysis standpoint, Nifty has resolved a multi-month symmetrical triangle to the upside. This breakout, occurring above a strong confluence zone, lends strength to the medium-term setup. The Index is trading well above all its key moving averages – the 20-week, 50-week, 100-week, and 200-week – which further underpins the bullish structure. The breakout also opens up the possibility of a trending move higher, provided the broader participation improves.In the coming week, a cautiously optimistic approach is advised. While the technical breakout gives the bulls an edge, the rising volatility and poor market breadth call for a disciplined strategy. It is essential to protect gains at higher levels while selectively participating in strength. Traders should avoid aggressive fresh buying and instead adopt a stock-specific approach with a strong focus on risk management. The method to approach the week: stay moderately bullish but tactically cautious.In our look at Relative Rotation Graphs®, we compared various sectors against the CNX500 (NIFTY 500 Index), representing over 95% of the free-float market cap of all the listed stocks. 124666217 124666241Relative Rotation Graphs (RRG) show that the Nifty Pharma, Metal, and Auto Indices maintain the leadership. These groups are inside the leading quadrant and are expected to relatively outperform the broader markets.The Nifty Midcap 100 Index remains the only Index inside the weakening quadrant. It is also seen as mildly improving its relative momentum. Individual stock-specific performance may be seen, but overall relative performance of the mid-cap space may continue to remain tepid.The Nifty Consumption, Commodities, Services Sector, and Media Indices continue to languish inside the lagging quadrant. They may continue to underperform the broader markets relatively. However, other groups, such as Realty, PSE, Nifty Bank, Infrastructure, Energy, and Financial Services, are also inside the lagging quadrant, butthey are seen improving significantly on their relative momentum. The Nifty FMCG Index is inside the improving quadrant, but it is rapidly slowing down in its momentum. The IT and Pharma Indices are also inside this quadrant and are expected to continue improving their relative performance against the broader markets.Important Note: RRGTM charts show the relative strength and momentum of a group of stocks. In the above Chart, they show relative performance against NIFTY500 Index (Broader Markets) and should not be used directly as buy or sell signals.

IDFC Bank reported its second quarter results for the financial year 2026, wherein the bank witnessed a 75.5% YoY surge in its standalone net profit at Rs 352.31 crore, up from Rs 200.69 crore in Q2FY26. Further, the bank’s net interest income (NII) rose by 6.8% YoY.NII was reported at Rs 5,112.57 crore for the said quarter, versus Rs 4,788 crore in the year-ago period.IDFC Bank’s net interest margin (NIM) fell by 59 bps on a year-on-year basis to 5.59%, down from 6.18% a year ago and 5.71% in the previous quarter.The bank’s gross NPA ratio declined by 6 basis points to 1.86%, while the net NPA increased by 4 basis points to 0.52% on a year-on-year basis.Further, IDFC Bank reported a 21.6% year-on-year increase in total customer business, which rose to Rs 5,35,673 crore as of September 30, 2025, compared to Rs 4,40,640 crore a year ago. Loans and advances grew by 19.7% YoY to Rs 2,66,579 crore from Rs 2,22,613 crore.IDFC Bank’s customer deposits rose 23.4% year-on-year to Rs 2,69,094 crore as of September 30, 2025, from Rs 2,18,026 crore a year earlier.Meanwhile, CASA deposits grew 26.8% YoY to Rs 1,38,583 crore. The CASA ratio improved by 119 basis points to 50.07%, up from 48.88% in the same quarter last year. The bank’s cost of funds declined by 23 basis points year-on-year to 6.23%.“The stress in the MFI business was an MFI industry issue and looks like it is behind us. Other than MFI, the asset quality of the Bank has always been stable for over a decade through cycles and continues to be so with Gross NPA at 1.86% and Net NPA at 0.52% as of 30th September 2025. On cost of funds, we expect it to drop from here on. The bank is witnessing improving operating leverage. For instance, in FY25, total Business, i.e. loans and customer deposits, grew by 22.7% YoY, against increase in Opex of 16.5% YoY. Following on, in H1 FY26, total Business grew by 21.6% YoY, against Opex increase of 11.8% YoY. We hope to sustain this trend,” said V Vaidyanathan, MD and CEO of ISFC First Bank.On Friday, the shares of IDFC First Bank closed flat at Rs 71.91 on the BSE. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

IDFC Bank reported its second quarter results for the financial year 2026, wherein the bank witnessed a 75.5% YoY surge in its standalone net profit at Rs 352.31 crore, up from Rs 200.69 crore in Q2FY26. However, the bank’s net interest income (NII) took a sharp hit, falling by 40% YoY.NII was reported at Rs 5,112.57 crore for the said quarter, versus Rs 8,540.03 crore in the year-ago period.IDFC Bank’s net interest margin (NIM) fell by 59 bps on a year-on-year basis to 5.59%, down from 6.18% a year ago and 5.71% in the previous quarter.The bank’s gross NPA ratio declined by 6 basis points to 1.86%, while the net NPA increased by 4 basis points to 0.52% on a year-on-year basis.Further, IDFC Bank reported a 21.6% year-on-year increase in total customer business, which rose to Rs 5,35,673 crore as of September 30, 2025, compared to Rs 4,40,640 crore a year ago. Loans and advances grew by 19.7% YoY to Rs 2,66,579 crore from Rs 2,22,613 crore.IDFC Bank’s customer deposits rose 23.4% year-on-year to Rs 2,69,094 crore as of September 30, 2025, from Rs 2,18,026 crore a year earlier.Meanwhile, CASA deposits grew 26.8% YoY to Rs 1,38,583 crore. The CASA ratio improved by 119 basis points to 50.07%, up from 48.88% in the same quarter last year. The bank’s cost of funds declined by 23 basis points year-on-year to 6.23%.“The stress in the MFI business was an MFI industry issue and looks like it is behind us. Other than MFI, the asset quality of the Bank has always been stable for over a decade through cycles and continues to be so with Gross NPA at 1.86% and Net NPA at 0.52% as of 30th September 2025. On cost of funds, we expect it to drop from here on. The bank is witnessing improving operating leverage. For instance, in FY25, total Business, i.e. loans and customer deposits, grew by 22.7% YoY, against increase in Opex of 16.5% YoY. Following on, in H1 FY26, total Business grew by 21.6% YoY, against Opex increase of 11.8% YoY. We hope to sustain this trend,” said V Vaidyanathan, MD and CEO of ISFC First Bank.On Friday, the shares of IDFC First Bank closed flat at Rs 71.91 on the BSE. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

IndusInd Bank has posted a net loss of Rs 437 crore in the second quarter of FY26, reversing from a net profit of Rs 1,331 crore in the corresponding quarter of FY25. The bank’s Net Interest Income (NII) too declined by 17.6% year-on-year to Rs 4,409 crore from Rs 5,347 crore in Q2FY25.The bank’s net interest margin (NIM) was also reported at 3.32% for Q2 FY26, as compared to 4.08% for Q2 FY25.As per the bank’s press release, the fee and other income for the quarter stood at Rs 1,651 crore, compared to Rs 2,185 crore in Q2FY25. The bank’s yield on assets stood at 8.75% for the quarter, lower than 9.58% recorded in the year-ago period, while the cost of funds was 5.43% as against 5.54% in the corresponding quarter last year.Operating expenses for Q2FY26 were reported at Rs 4,013 crore, slightly higher than Rs 3,932 crore in Q2FY25. Total expenditure, including interest and operating expenses, stood at Rs 11,212 crore compared to Rs 11,271 crore in the corresponding period of the previous year. The bank’s pre-provision operating profit (PPOP) declined to Rs 2,047 crore in Q2FY26 from Rs 3,600 crore in Q2FY25.IndusInd Bank’s balance sheet stood at Rs 5,27,490 crore as of September 30, 2025, compared to Rs 5,43,407 crore a year earlier. Deposits were Rs 3,89,600 crore, down from Rs 4,12,397 crore in the previous year.CASA deposits amounted to Rs 1,19,771 crore, with current account deposits at Rs 31,916 crore and savings account deposits at Rs 87,854 crore, forming 31% of total deposits.Advances as of the end of Q2FY26 were Rs 3,25,881 crore, lower than Rs 3,57,159 crore in the year-ago period.Asset qualityThe gross NPA ratio stood at 3.60% of gross advances as of September 30, 2025, slightly lower than 3.64% as of June 30, 2025, while the net NPA was at 1.04%, improving from 1.12% in the previous quarter.The Provision Coverage Ratio improved to 72%. Provisions and contingencies rose to Rs 2,631 crore in Q2FY26 from Rs 1,820 crore in Q2FY25. Capital adequacyThe bank’s Total Capital Adequacy Ratio, under Basel III norms and excluding half-yearly profits, stood at 17.10% as of September 30, 2025, up from 16.51% a year earlier. Tier 1 CRAR was 15.88%, compared to 15.21% in the year-ago period. Risk-weighted assets stood at Rs 3,98,256 crore, down from Rs 4,20,519 crore last year.“During Q2FY26, the Bank consolidated its balance sheet by letting go wholesale deposits and being cautious on microfinance disbursements. Nevertheless, our core pre-provision operating profit at Rs. 1,940 crores remained stable QoQ. Our asset quality trends have been stable in all core businesses except in microfinance wherein industry is facing cyclical pressures. The Bank accelerated write-offs as well as increased provisions on microfinance as a prudent measure. While this has resulted in the Bank showing a loss in Q2, we believe this strengthens the balance sheet and fast-tracks normalisation of underlying profitability,” said Rajiv Anand, the MD and CEO of IndusInd Bank, while commenting on the bank’s Q2 results.

Pakistan Army Chief Asim Munir once again resorted to Anti-India rhetoric even as his troops received several setbacks in an ongoing conflict with the Taliban. Addressing a passing out parade at the Pakistan Military Academy (PMA) in Kakul Munir said that there was "no space for war in a nuclearised environment," reported Dawn.Munir, whose forces lost several of the key air bases in their short conflict with India in the aftermath of Operation Sindoor claimed that Pakistan would not be intimidated. "We will never be intimidated nor coerced by your rhetoric and shall respond decisively, beyond proportions, to even a minor provocation without any qualms. The onus of ensuing escalations, one that may ultimately bear catastrophic consequences for the entire region and beyond, will squarely lie with India," Munir said, in an attempt to obfuscate the fact that it was his DGMO that had sought a ceasefire after being pounded by Indian strikes. "Should a fresh wave of hostilities be triggered, Pakistan would respond much beyond the expectations of the initiators," Munir said. During Operation Sindoor the Indian Air Force destroyed 12-13 of Pakistan's combat aircraft, including four to five F-16s on ground and five F-16s and JF-17s in the air along with two spy planes. The IAF also cratered several Pakistani airbases, damaging radars, command centres, runways, hangars, and a surface-to-air missile (SAM) system. Faced by this, Munir chose rhetoric to hide facts. "With diminishing distinctions between conflict and communication zones, the reach and lethality of our weapon systems will shatter the misconceived immunity of India's geographic war-space. The deeply hurting retributive military and economic losses inflicted will be much beyond the imagination and calculation of the perpetrators of chaos and instability," he said.India carried out precision strikes on terror infrastructure in Pakistan and PoJK in May this year in response to the April 22 Pahalgam terror attack which killed 26 civilians. The Indian Armed Forces effectively repulsed the subsequent Pakistani aggression and pounded its airbases while downing several of its planes.

India’s largest private lender HDFC Bank, on Saturday, reported its second quarter results for FY26, reporting a 10.8% year-on-year (YoY) growth in its standalone net profit at Rs 18,641.28 crore, up from Rs 16,820.97 crore in the same period last year.Further, the bank’s net interest income (NII) also witnessed a 4.8% YoY growth and was reported at Rs 31,550 crore, rising from Rs 30,110 crore in the second quarter of FY25.The core net interest margin stood at 3.27% on total assets, indicating that asset repricing outpaced deposit repricing, compared with 3.35% in the previous quarter ended June 30, 2025.The bank’s net revenue increased 10.3% year-on-year to Rs 45,900 crore for the quarter ended September 30, 2025, compared with Rs 41600 crore in the same period last year.The bank posted healthy growth in deposits and advances for the September 2025 quarter, underscoring strong traction across retail and corporate segments. Average deposits rose 15.1% year-on-year to Rs 27.10 lakh crore, while average CASA deposits climbed 8.5% to Rs 8.77 lakh crore.Sequentially, both metrics were up by around 2%, reflecting sustained customer engagement and deposit mobilization.The bank’s asset quality improved sequentially and year-on-year, with gross non-performing assets (GNPA) declining to 1.24% of gross advances as of September 30, 2025, compared with 1.40% in the previous quarter and 1.36% a year earlier.Excluding NPAs from the agricultural segment, the GNPA ratio stood at 0.99%, down from 1.14% in June 2025 and 1.19% in September 2024.The net NPA ratio also improved to 0.42% of net advances, reflecting prudent credit underwriting and effective recovery measures.Total end-of-period deposits stood at Rs 28.02 lakh crore as of September 30, 2025, marking a 12.1% annual growth. CASA deposits advanced 7.4%, with savings and current account balances at Rs 6.53 lakh crore and Rs 2.96 lakh crore, respectively. On the lending front, average advances under management rose 9.0% YoY to Rs 27.94 lakh crore, while gross advances stood at Rs 27.69 lakh crore, up 9.9% YoY.Growth was led by a 17.0% rise in SME lending, followed by 7.4% growth in retail loans and 6.4% growth in corporate and wholesale segments. Overseas advances contributed 1.8% to total loans, highlighting the bank’s steady performance across diverse portfolios.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)