GHV Infra Projects secures work order of Rs 135 cr

Rupee gains tracking Asian peers, corporate dollar demand caps rise

by Hansraj Agrawal | Feb 10, 2026 | Share Market

The rupee appreciated on Tuesday, tracking its Asian peers; however, dollar demand from large corporates capped gains, dealers said. The local currency settled at 90.58 per dollar against the previous close of 90.77 per dollar.

The dollar index fell below 97 to 96.84, from the previous day’s 97.35, which further aided the local currency. The index measures the strength of the greenback against a basket of six major currencies.

“The rupee was tracking the Chinese currency, which appreciated. Dollar demand from corporates continued,” said a dealer at a state-owned bank.

The dollar index fell as concerns intensified over weakening foreign demand for US assets amid expectations that the Federal Reserve could deliver two rate cuts later this year. Reports that Chinese regulators had advised institutions to limit exposure to US Treasuries also added to the pressure.

The Indian unit has appreciated 1.56 per cent so far in February on the back of the trade deal with the United States. The local currency was the worst-performing Asian currency in 2025 and in January.

So far in FY26, the rupee has depreciated 5.04 per cent against the dollar.

“In the near term, the 90.00–90.20 per dollar zone stands out as a very strong support area. As long as this region holds, the rupee may gradually drift higher towards 91.00–91.20 per dollar in the coming days. A key anchor remains the Reserve Bank of India. On rupee dips, the RBI is expected to step in with dollar purchases, absorbing inflows rather than allowing sharp appreciation,” said Amit Pabari, managing director at CR Forex.

Goldman Sachs, which has lowered its estimate of India’s current account deficit by around 0.25 per cent of GDP to 0.8 per cent of GDP in CY26 following the US tariff reduction announcement, said pressure on the rupee has eased but there is limited room for further gains from current levels. Any pick-up in portfolio inflows following the conclusion of the India–US trade deal is likely to be met with a gradual unwind of the short forward book and a further build-up of foreign exchange reserves by the RBI.

India’s foreign exchange reserves rose to a record high of $723.77 billion in the week ended January 30.

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In a first, gold ETF flows outpace equity funds amid market volatility

by Hansraj Agrawal | Feb 10, 2026 | Share Market

The net inflows into gold exchange-traded funds (ETFs) outpaced collections by active equity mutual fund (MF) schemes for the first time last month, signalling a major shift in investor preferences as price volatility in gold and silver grabbed headlines.

Gold ETFs attracted net inflows of Rs 24,040 crore in January, a two-fold rise compared with Rs 11,647 crore in December 2025. Silver ETFs saw an even sharper surge, with investors pouring in nearly Rs 9,500 crore, compared with Rs 3,962 crore in December, show data from the Association of Mutual Funds in India (Amfi).

The jump in inflows came amid a surge in volatility in gold and silver last month. Gold prices ended January nearly 17 per cent higher in the international market, while silver surged 39 per cent despite a sharp fall in the last session of the month.

“The surge suggests gold demand remained exceptionally strong, supported by continued investor preference for safe-haven and diversification exposure. Part of the strength likely reflects fresh allocations at the start of the year, as investors rebalance portfolios and add hedges after a volatile period across risk assets,” said Nehal Meshram, senior analyst, Morningstar Investment Research India.

While investors poured record sums into precious metal ETFs, inflows into equity schemes witnessed a decline. At Rs 24,040 crore, net inflows in January were the lowest in seven months.

“The highlight (in January), with no surprise, has been flows in gold and silver ETFs. Investors have diversified their incremental flows from equities into precious metals, given the return profile over recent times,” said Akhil Chaturvedi, executive director and chief business officer, Motilal Oswal AMC.

The decline in net inflows for the second consecutive month was largely driven by a rise in outflows. Investors pulled out Rs 41,639 crore last month, the highest in 18 months.

Gross inflows, while moderating to some extent, remained buoyant, supported by systematic investment plan (SIP) inflows. Equity funds, which garner the bulk of SIP inflows, recorded gross inflows of Rs 65,667 crore last month, 5 per cent lower than the December tally. SIP inflows remained at a record high of Rs 31,002 crore.

In the hybrid space, multi-asset funds continued to garner strong inflows. These schemes, which have been the best-performing diversified MF offering owing to their precious metal exposure, attracted over Rs 10,000 crore of inflows last month.

“Flows into hybrid, multi-asset and passive products — including increased allocations to gold and silver ETFs — suggest a measured approach by investors towards diversification and portfolio balance. Overall, these developments indicate that mutual funds remain a widely used investment avenue, with participation levels holding up across varying market conditions,” said Venkat Chalasani, chief executive, Amfi.

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BSE shares hit fresh record high on strong Q3 earnings performance

by Hansraj Agrawal | Feb 10, 2026 | Share Market

Shares of BSE rallied 6.3 per cent on Tuesday to close at a fresh all-time high of Rs 3,172, as investors cheered a strong operating performance in the December 2025 quarter and sustained momentum in the exchange’s derivatives business.

The stock gained after BSE reported a sharp jump in revenues and profits, driven largely by higher transaction income amid rising options market share and a recovery in industry volumes. Revenue rose 16.4 per cent sequentially and 60.8 per cent year-on-year in the quarter, while adjusted profit after tax stood at Rs 6.5 billion, ahead of some Street estimates.

Transaction revenue, which accounts for about 77 per cent of BSE’s total revenue, jumped 26 per cent quarter-on-quarter, supported by continued gains in the options segment.

BSE’s options premium market share improved to 26.8 per cent in the December quarter from 24.4 per cent in the September quarter, with premium average daily traded value (ADTV) rising 30 per cent sequentially to Rs 19,500 crore. The market share further increased to around 30 per cent in January 2026, according to a note by HDFC Securities.

Colocation revenue remained steady at about Rs 48 crore, and the exchange said it plans to add 20 more racks by the March quarter, taking total capacity to 500 racks to support future growth.

Brokerages raised earnings estimates between 5 per cent and 10 per cent, factoring in better-than-expected volumes in the derivatives segment.

HDFC Securities projects revenue and earnings per share growth of about 30 per cent and 36 per cent, respectively, over FY25–28, and has maintained an ‘add’ rating on the stock with a revised target price of Rs 3,310.

Motilal Oswal, meanwhile, has raised its earnings estimates for FY26–FY28 by 5–15 per cent, citing higher options volumes, but reiterated a ‘neutral’ rating on the stock with a target price of Rs 3,350, premised on 38 times FY28 estimated earnings.

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GHV Infra Projects secures work order of Rs 135 cr

Unemployment Rate declines, Labour Force Participation Rate rises near 56%

by Hansraj Agrawal | Feb 10, 2026 | Share Market

Last Updated : Feb 10 2026 | 6:04 PM IST

Ministry of Statistics & Programme Implementation stated today the overall Labour Force Participation Rate (LFPR) for persons aged 15 years and above increased to 55.8% during October-December 2025, compared to 55.1% in the previous quarter. Female LFPR (15 years and above) recorded a notable rise to 34.9% in October-December 2025, up from 33.7% during July-September 2025. The Worker Population Ratio (WPR) for persons aged 15 years and above improved from 52.2% in July-September 2025 to 53.1% in October-December 2025.

Unemployment Rate (UR) is declining. The UR among persons aged 15 years and above in rural areas declined to 4.0% in October-December, 2025 from 4.4% in the previous quarter, driven by reduction in UR for both rural male and female. The urban unemployment rate for persons of age 15 years and above decreased to 6.7% as compared to 6.9% reported in the previous quarter, driven by a decline in urban male UR from 6.2% during July-September, 2025 to 5.9% in the current quarter.

The Rural WPR for persons aged 15 years and above continued to show a steady upward trend across both genders during April-June 2025 to October-December 2025. The Unemployment Rate (UR) for persons aged 15 years and above declined across both rural and urban sectors. The share of self-employed workers in rural areas increased to 63.2% during October-December 2025, compared to 62.8% in the last quarter. The agriculture sector continued to dominate rural employment, accounting for 58.5% of employed persons aged 15 years and above during October-December 2025, up from 57.7% in July-September 2025.

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First Published: Feb 10 2026 | 6:04 PM IST

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Titan Company posts 61% YoY rise in Q3 PAT; EBIT margin expands to 10.8%

by Hansraj Agrawal | Feb 10, 2026 | Share Market

Titan Company has reported 61% increase in consolidated net profit to Rs 1,684 crore on a 40% increase in total income to Rs 24,592 crore in Q3 FY26 as compared with Q3 FY25.

While EBIT improved by 63% to Rs 2,657 crore, EBIT margin expanded by 155 basis points YoY to 10.8% in Q3 FY26.

Profit before tax in Q3 FY26 stood at Rs 2,375 crore, up by 70% from Rs 1,396 crore recorded in Q3 FY25.

The revenue of the Jewellery Business grew 42% YoY to Rs 22,517 crore. Of this, the India business income was Rs 21,458 crore (up 41% YoY) and that of the International jewellery business was Rs 1,058 crore (up 83% YoY).

Titan stated that the India business has recorded one of its highest ever quarterly growth performance (excluding Covid periods) led by a vibrant festive and backed by visible and evocative campaigns for all brands in the portfolio. The robust growth was supported by a powerful exchange program, wedding sales, festive collections and attractive coin offers driving strong growth momentum throughout the quarter, despite elevated gold prices.

The International Business clocked robust double-digit retail growth during the quarter aided by both store expansion and strong like-to-like growths.

Of the 49 new store additions (net) for Q3 FY26, 47 new stores (net) were added in India comprising of 24 in Caratlane, 11 in Mia, 10 in Tanishq, 1 in Zoya and 1 in beYon, respectively. Tanishq added two new stores in USA in Boston and Orlando during the quarter.

The Watches business achieved a total income of Rs 1,295 crore for the quarter, growing 14% in Q3 FY26 over Q3 FY25. The business witnessed strong traction in the festive season driven by gifting occasions. Premiumization journey saw steady progress across Titan, Fastrack and Sonata brands, all growing in healthy double-digits compared to Q3 FY25.

The EyeCare business recorded 18% YoY rise in total income to Rs 231 crore in Q3 FY26. The business saw healthy demand in core categories supported by high single-digit volume growth and mid-single digit growth in average selling prices (ASP). Growth was led by lenses and sunglasses, both achieving double-digit growths for the quarter.

Total Income for the Emerging Businesses (women’s bags, fragrances and Taneira) grew 15% YoY to Rs 135 crore in Q3 FY26.

Compared to same period last year, women’s bags experienced strong double-digit growth in both volumes and ASP. The fragrances business grew 24%, driven by strong volume growths in Skinn and Fastrack perfumes. Taneira’s consumer business grew 7% led by increase in ASP and same-store-sales growth.

The Titan Engineering & Automation (TEAL’) Business recorded a total income of Rs 323 crore in Q3 FY26, growing 67% as compared to Q3FY25. Across its automation solutions and manufacturing services businesses, TEAL is expanding its presence to serve marquee Indian as well as global customers.

Ajoy Chawla, managing director of the company, stated: We marked a stellar third quarter of 40% growth characterized by a strong performance across our key businesses.

The festive period spurred broad-based consumer interest across our portfolios, underscoring resilience in premium and accessible segments alike.

The Jewellery business drove strong buyer engagements via attractive exchange programs, exquisite new collections and lucrative bundled offers resulting in one of its best ever growth quarters. Our Watches and EyeCare businesses sustained their growth trajectories clocking valuable gains across key brands in their portfolios. We are encouraged by the consistent performance in our Fragrances business and investing to grow our Women’s Bags and Taneira businesses.

Towards the quarter-end, we launched beYon, a lab-grown jewellery line to bolster our multi-brand jewellery portfolio and explore new growth avenues.

We are excited to announce the completion of 67% acquisition of Damas Jewellery after quarter-end, whole heartedly welcoming them to our Titan family. The strategic addition enables us to address evolving consumer preferences across new geographic and demographic markets extending well beyond our traditional Indian diaspora.

Titan is India’s leading lifestyle company. It ha established leading positions in the jewellery, watches and eyecare categories. It has also diversified into wearables, indian dress wear and fragrances & fashion accessories.

The scrip had gained 0.24% to end at Rs 4267.05 on the BSE today.

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