The Daily Brief

PSU banks hit record profits as all 12 reported strong results and cumulative profits surge past major milestones. Key banks show return-on-assets gains while falling NPAs and lower provisions boost core performance. Wires and cables firms post best-ever quarters with capex payoff, distributor pre-stocking and copper-driven margin moves. Quick business and regulatory tidbits round out the conversation.

A fast take on a tense trade deal between the US and India, tracing tariffs, negotiations, and who wins or loses across export sectors. A clear look at why India agreed to the pact and what it sacrifices to avoid steeper tariffs. A separate deep dive into fixing India’s corporate bond market, from bank funding limits to missing institutional demand and thin secondary markets.

A deep look at how GST cuts, price moves and supply limits reignited vehicle demand across segments. Discussion of supply bottlenecks, rare-earth magnet shortages and cost-raising workarounds by manufacturers. Coverage of a ₹4 crore stock manipulation: coordinated Telegram tips, leaked positions, precise price matching and SEBI's probe and penalties.

A look at why India’s midcap IT firms are outpacing larger peers thanks to AI adoption, targeted domains and recent M&A moves. Quick rundowns of quarterly results, one‑time labour adjustments and where BFSI and healthcare are fueling demand. A separate deep dive examines whether the dollar’s global role shifts in waves, with historical cycles and what de‑dollarization might really mean.

A deep dive into how AI demand is diverting memory and advanced packaging away from phones and laptops. A clear look at why chipmakers prioritize higher‑margin AI components like DRAM, NAND and HBM. Discussion of packaging bottlenecks, thermal challenges and whether new AI form factors might change how we use devices. A rundown of Fractal’s AI business model, client concentration and the risks of Gen AI tooling.

They unpack why copper supply is tightening, from falling ore grades to major mine shutdowns that removed nearly 4% of global output. They explain why new mines take decades and why acquisitions are becoming the shortcut. They explore strategic stockpiling and government moves from China to the US. They also break down how India’s tax design concentrates revenue at the centre and recent shifts in fiscal devolution.

Murali Srinivasa, founder of Lion Circuits and hands-on PCB maker, explains what printed circuit boards are and why they matter. He compares PCBs to skyscrapers of dozens of layers. He describes multilayer and HDI processes, photolithography, layer registration and why India lags behind China in manufacturing capacity and tacit know‑how.

A deep dive into India’s Economic Survey highlights strategic manufacturing goals and worrying state fiscal pressures. Discussion covers weak manufacturing share, capital and financial-market gaps, and risks to the demographic dividend from skilling shortfalls. A sector review tracks premiumization in liquor companies, supply-chain integration, and regional policy shocks affecting volumes.

A deep dive into whether PhonePe can turn massive UPI scale into lasting profit. Breakdown of its three-layer business model and which revenue pools are shrinking due to regulation. Discussion of merchant payments, financial services distribution, and risky platform experiments. Quick commerce roundup comparing Blinkit and Instamart, their unit economics, and what growth discipline looks like.

A clear breakdown of the budget's big themes and why it matters for the economy. Frameworks for reading public accounts, tax tweaks, and policy signals are laid out. Capital spending priorities, borrowing strategy, and fiscal targets get close attention. New tax rules, trade and remittance changes, and heavy emphasis on electronics, semiconductors, logistics and critical minerals are explored.