In a surprising twist, Billionbrains Garage Ventures' stock surged on Friday despite a reported profit decline for Q3 of fiscal 2026. The notable increase in revenue, driven by market share expansion, impressed brokerages. Positive sentiments were echoed as Groww fortified its position in both stock and derivatives markets, with SIP inflows witnessing a remarkable uptick.
Aritas Vinyl's Rs 38 crore IPO is now open, but the grey market shows no premium, suggesting a flat listing. The issue, priced between Rs 40-47, aims to fund working capital and a solar project. With a significant portion reserved for retail investors, the company manufactures artificial leather for various sectors and exports globally.
Oil prices remained steady on Friday. This came after fears of a U.S. strike on Iran eased. U.S. crude and gasoline inventories also rose. Venezuela has resumed oil exports. Analysts noted a swift unwinding of the 'Iran premium' from prices. Shell and OPEC provided outlooks on future energy demand and supply balances.
Asian stocks are on track for their best weekly run since May. Technology shares are reaching new highs, driven by strong investor interest in artificial intelligence. This surge follows positive news from Taiwan Semiconductor Manufacturing Company, boosting confidence in the tech sector. US and European markets also saw gains, with chipmakers performing exceptionally well.
Investors are shifting focus from technology stocks to industrial, healthcare, and small-cap companies. This move signals a potential broadening of market leadership. Fourth-quarter earnings reports will be crucial in determining the sustainability of this trend. Experts believe conditions are favorable for this expansion, with AI benefits expected to reach various sectors.
