Asia
The Hindu BusinessLine

Ananth Technologies supplies 46 packages for GSLV-F18

ATL, a space systems company, has supplied 46 flight hardware packages for the GSLV-F18 launch vehicle. | Photo Credit: Kesavan N 7606 Ananth Technologies Private Limited (ATL), a space systems company headquartered here in Hyderabad, has supplied 46 flight hardware packages for the GSLV-F18 launch vehicle and nine systems for the NVS-03 navigation satellite it carried successfully. The packages for the launch vehicle cover telemetry, data acquisition, navigation, guidance and control, power management, relay units, structural monitoring, actuator control, and the transponder across the vehicle’s stages, the company said in a statement. For the satellite, ATL supplied power-management packages, different types of DC-DC converters, star sensors and attitude and orbit control systems. These support power conversion and distribution, onboard computing and determining the spacecraft’s attitude. NVS-03 is the third satellite in the next-generation navigation satellite system meant to provide continuity of navigation services for the IRNSS series. It carries an indigenous atomic clock along with procured atomic clocks, and adds the L1 signal to the existing L5 and S signals. Its coverage extends over the country’s landmass and a region extending 1,500 km around its geopolitical boundary. Congratulating ISRO on the successful launch, Subba Rao Pavuluri, Chairman of Ananth Technologies, said NVS-03, part of the Navigation with Indian Constellation (NavIC) system, represented “an important step towards ensuring continuity and enhancing India’s independent satellite-based navigation services”. The company has facilities in Bengaluru for satellite assembly, integration and testing, and in Thiruvananthapuram for the fabrication, assembly and testing of launch vehicle subsystems. It has contributed to 111 satellites and 91 launch vehicles so far. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Ananth Technologies supplies 46 packages for GSLV-F18
Asia
The Hindu BusinessLine

CDSL Q2 results: Net profit jumps 24% to ₹174 cr on strong demand

During the quarter, about 75 lakh new demat accounts were opened with CDSL, while Assets Under Custody crossed ₹89 lakh crore. Central Depository Services has reported that its net profit in the September quarter was up 24 per cent at ₹174 crore against ₹140 crore logged in the same period last year on strong demand. During the quarter, about 75 lakh new demat accounts were opened with CDSL, while Assets Under Custody crossed ₹89 lakh crore. Nehal Vora, Managing Director & Chief Executive Officer, said despite global macroeconomic volatility, participation in securities market continues to demonstrate resilience. CDSL’s demat account base grew by about 17 per cent year-on-year as of Q2-end on back of sustained growth in market participation. This has driven the depository to further strengthen operations and value proposition, he said. As a Securities Market Partner in SEBI’s Project Jagrook, we remain committed to promoting informed and responsible investing. CDSL’s focus continues to be on building trusted infrastructure and empowering every investor, he said. Geetha Gangadharan has joined CDSL’s Governing Board as a Non-Independent Director in August. Farokh Patel was elevated to Chief Regulatory Officer and Compliance Officer and Kinjal Shah was appointed as Chief Technology Officer in September. CDSL made further investments in India International Bullion Holding IFSC to support IT infrastructure development, among others. CDSL also made a strategic investment in Open Network for Digital Commerce, an initiative of the Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry. Centrico Insurance Repository, a subsidiary of CDSL, entered into a Software Development Partnership Agreement with Shoveltech Solutions, which operates in the health-tech domain. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

CDSL Q2 results: Net profit jumps 24% to ₹174 cr on strong demand
Asia
The Economic Times

Want to invest in gold through mutual funds? Here are the options after Gold FoF curbs

Several mutual fund houses have temporarily stopped accepting fresh investments into gold fund-of-funds (FoFs), leaving investors wondering whether they can continue investing through existing SIPs and what alternatives are available. Here is what investors can do, as reported by ETBureau. Gold FoFs are mutual fund schemes that invest in Gold ETFs rather than buying physical gold directly. When an investor puts money into a Gold FoF, the fund manager uses that money to purchase units of a Gold ETF which invests in physical gold. As a result, a Gold FoF’s value generally moves in line with gold prices. Gold FoF offers a simple way to invest in gold through the mutual fund route without needing a demat account. Investors can buy and redeem units like any other mutual fund scheme while gaining exposure to changes in gold prices. Several fund houses have temporarily stopped accepting fresh investments in Gold FoFs from mid-October which includes fresh lump-sum investments, new SIP registrations and switch-ins, though they differ across schemes. While fund houses have not disclosed specific reasons behind the move, industry participants believe it may be linked to concerns over rising gold imports and strong inflows into gold investment products. As these ETF units are backed by physical gold, sustained inflows into such products can translate into higher demand for imported gold. Gold ETFs are one of the closest alternatives for investors seeking exposure to gold through market-linked investments. While there are restrictions on fresh investments in several Gold FoFs, there are none on their ETFs. Gold FoFs are generally more convenient for retail investors because they can be bought and redeemed like any other mutual fund scheme without requiring a demat account. Gold ETFs can only be bought and sold through a demat and trading account Gold ETFs typically have lower costs because investors bear only the ETF’s expense ratio. In a Gold FoF, investors indirectly bear the expenses of both the FoF and the underlying ETF. Gold ETFs can be bought and sold on stock exchanges during market hours, while Gold FoFs are purchased and redeemed at the day’s closing net asset value (NAV), like regular mutual funds.

Want to invest in gold through mutual funds? Here are the options after Gold FoF curbs
Asia
The Economic Times

Top 10 balanced advantage mutual funds with highest net equity holding. Check details

Since the Nifty 500 peaked in September 2024, balanced advantage funds have steadily increased their net equity exposure between September 2024 and August 2026. Here is a detailed breakdown of top 10 funds with highest net equity holding, as reported by ETWealth. According to data available with PrimeInvestor and fund house factsheets, the average net equity allocation of 34 balanced advantage and dynamic asset allocation funds with a track record of at least two years rose from 52.65% in September 2024 to 64.98% in August 2026. That is a rise of 12.33 percentage points at the category level. Further, 30 of the 34 schemes increased their net equity exposure over this period. Bajaj Finserv Balanced Advantage Fund, Quant Dynamic Asset Allocation Fund, and Baroda BNP Paribas Balanced Advantage Fund had nearly 86.2%, 81.9% and 80.8% equity allocation respectively as of August 2026. ITI Balanced Advantage Fund and Union Balanced Advantage Fund had a net equity exposure of 74.8% and 74.4% respectively. HDFC Balanced Advantage Fund, Mahindra Manulife Balanced Advantage Fund and Canara Robeco Balanced Advantage Fund had a net equity exposure of 73.3%, 71.9% and 70.5% respectively. A fund’s net equity allocation at month-end is a useful starting point. It is not a complete account. The net figure reflects the difference between gross equity and hedged equity, but it does not reveal what sits inside the equity portion. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Top 10 balanced advantage mutual funds with highest net equity holding. Check details
Asia
The Hindu BusinessLine

Q2 Results Today Live: NTPC, Muthoot Finance, Shyam Metalics & Energy, Sarda Energy and Minerals, Zen Technologies, National Securities Depository, Rainbow Childrens Medicare Share to announce Q2 results

Syrma SGS eyes $1 billion revenue next year after record Q2 FY27; strong H1 growth amid component shortages and PCB bottlenecks. Reliance reports record Q2 profit and revenue, led by O2C and Jio growth, amid resilient diversified operations and strategic investments. Reliance Industries yesterday reported its highest-ever quarterly profit and revenue for the September quarter, driven by strong performances across its energy and telecom businesses. Consolidated net profit rose 33.8 percent year on year to a record ₹29,550 crore, while revenue increased 27.8 percent to an all-time high of ₹3.62 lakh crore. EBITDA grew 23.9 percent to a record ₹62,409 crore. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Q2 Results Today Live: NTPC, Muthoot Finance, Shyam Metalics & Energy, Sarda Energy and Minerals, Zen Technologies, National Securities Depository, Rainbow Childrens Medicare Share to announce Q2 results
Asia
The Hindu BusinessLine

LIC Housing Finance Q2 PAT up 11% at ₹150.7 crore

The bank’s outstanding loan portfolio increased 5% to ₹3.26 lakh crore in Q2FY27, as aginst ₹3.11 lakh crore in the year-ago period | Photo Credit: luechai LIC Housing Finance Q2FY27 net profit recorded 11% growth at ₹150.7 crore in the quarter-ended September 2027, as against ₹135 crore posted in the year-ago period. The bank’s net interest income increased just about 2% to ₹2,088 crore in the second quarter of the current fiscal, as against ₹2,038 crore in the year-ago period. The net interest margin inched down to 2.58% in the recently concluded quarter, as against 2.62%. The bank’s outstanding loan portfolio increased 5% to ₹3.26 lakh crore in Q2FY27, as against ₹3.11 lakh crore in the year-ago period. The gross non-profitable assets as a share of advances dipped to 2.05% in September 2026, as against 2.65% in the year-ago period. NNPA ratio reduced to 1.06% from 1.19% in the year-ago period Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

LIC Housing Finance Q2 PAT up 11% at ₹150.7 crore
North America
CNBC Economy

Euro zone economy slows to 0.4% growth in Q3 as crisis-hit France contracts

Economic expansion in the euro zone slowed to 0.4% in the third quarter, statistics agency Eurostat said on Friday. The 21-nation euro area rebounded to 0.6% growth in the second quarter, following stagnation in the first three months of the year. The flash third quarter reading was nonetheless higher than the 0.2% growth that was forecast in a Reuters poll of economists. However, France's economy unexpectedly contracted by 0.1% over the July to September period. The country is grappling with soaring borrowing costs as investors balk at a political struggle to reduce its high budget deficit and mounting national debt. October has also brought growing nationwide unrest over the cost of living and other issues, which has at times escalated into violent and costly rioting. Germany, the euro zone's largest economy, grew by just 0.2% in the third quarter. Growth in the bloc's third-biggest economy, Italy, was flat. Spain — recently rocked by its own mass protests over cost pressures and housing, leading to a snap election being called for next month — grew by 0.6%. The country continues to outpace the euro area average amid labor market productivity, a healthy tourism industry and domestic demand, and a relatively strong fiscal position. Ireland recorded 5.5% growth, though its headline GDP figures are highly volatile and subject to revision due to the large number of multinationals stationed in the country but doing business outside of it. The European Central Bank voted to hold interest rates steady on Thursday, saying a shock from higher energy prices was not yet feeding into second-round effects in the wider economy. But analysts said the ECB may still opt for one more rate hike in December as energy costs remain elevated. The euro area is "showing unexpected resilience against a backdrop of considerable economic and geopolitical uncertainty," Joe Nellis, head of economic research at accountancy MHA, said. However, he cautioned that this may be masking longstanding structural challenges, including weak productivity growth and investment expenditure, demographic pressures and declining industrial competitiveness. "The outlook for 2027 is complicated by the prospect of further inflationary pressures. Unless the Middle East crisis is resolved in the very near future, energy and transportation costs will continue to rise, putting even more pressure on the cost of living and household finances at a time when consumer confidence is weak." Get this delivered to your inbox, and more info about our products and services.

Euro zone economy slows to 0.4% growth in Q3 as crisis-hit France contracts
North America
Yahoo Finance

Nasdaq suffers worst month in over a year as AI nerves roil markets

Traders work on the floor of the New York Stock Exchange on Friday, Oct. 30, 2026. Michael Nagle/Bloomberg/Getty Images Tech giants Stocks Tech news Investing See all topics Facebook Tweet Email Link Threads Link Copied! Follow Wall Street suffered a steep day of losses Friday after the latest tech earnings reignited concerns that massive spending on AI may not deliver the returns that investors expect. The Nasdaq Composite dropped 2.86% and the S&P 500 fell 1.82%, each suffering their worst day since June. The Dow fell 572 points, or roughly 1.1%. Just a few weeks ago, the Nasdaq and S&P 500 clinched record highs. But markets were rattled this month as concerns festered about higher interest rates, tech companies burning through cash on enormous AI spending and weaker-than-expected earnings and forecasts. The Nasdaq is now down 7.8% from its record high earlier this month and suffered its worst monthly decline since March 2025. The S&P 500 is down roughly 3% since its peak. Intel plunged 28.58% Friday, its worst day since 1974 and second-worst day on record, after issuing weaker guidance for the fourth quarter, citing weakness in the PC market because higher memory chip costs are hurting consumer demand. Amazon shares also dropped, falling 1.4%, following an earnings report that indicated further increases in AI spending while the company’s sales and profit results missed analysts’ expectations. This comes after shares of Alphabet — Google’s parent company — sank by more than 12% Thursday, wiping half a trillion dollars off the market value of America’s fourth-largest company. Investors were concerned about a slowdown in Google’s search advertising business and a ramp-up in AI spending. Alphabet shares fell another 1.4% on Friday, capping off their worst month on record. Investors’ concerns about the AI boom rattled other semiconductor chipmakers: Nvidia shares dropped 4.2%, while a closely watched index of chipmakers sank 7.2%. Alphabet, Microsoft, Meta and Amazon are collectively spending hundreds of billions of dollars on building data centers. After cheering on anything AI-related, Wall Street is getting more discerning about which companies are spending rationally and seeing tangible returns on investment. Friday was the final trading day of a bruising month for AI stocks as investors continue to scrutinize the enormous cost of the AI boom and demand evidence that those investments will eventually translate into profit. “We’re moving out of the hopes and dreams phase of the AI trade and into the ‘show me’ phase,” Joe Tigay, portfolio manager at Equity Armor Investments, said in a note. “Full order books are great, but investors want to see who can actually deliver, turn that demand into earnings and generate cash,” he said.

Nasdaq suffers worst month in over a year as AI nerves roil markets
North America
Fortune

In Brooklyn, a phone-free room of Democrats agreed a blue wave is coming — and debated the data-center identity crisis

I checked my phone into a pouch at the door of 100 Sutton St. in Greenpoint on Thursday night, along with about 300 other people, five days before the midterms. It was deep in the so-called “commie corridor” that runs from northwest Queens through northern Brooklyn, and the crowd for Newsreel’s “Midterm Mania” panel and campaign staff, consultants, organizers, founders and journalists were gathered: the people who make a living off the feed, spending a night without it. Chi Ossé, the youngest member of the New York City Council and a democratic socialist, got the first big reaction. “Make some noise, Brooklyn,” he said when he walked onstage. When he called for Democrats to come out against the war in Iran and part of the room didn’t clap, he had a ruling ready: “Everyone who’s not clapping is supportive of war.” Newsreel founder and CEO Jack Brewster had asked everyone who RSVPed, “What’s the one election question you want answered?” More than 150 answered, and the walls were covered in Post-it notes. Brewster set up the night’s last panel with his own: “Democrats are on track to win big according to polls, but they still cannot agree on who they are.” Over 90 minutes, the people onstage made his case. They didn’t agree on whether the party is socialist, or on whether data centers are a jobs program or a menace. They didn’t agree on what to do about AI beyond taxing it. What they shared was the goal of winning Tuesday, and the odds look good. The New York Times/Siena poll released Oct. 21 had Democrats up 10 on the congressional ballot and Trump’s approval at 36%. That leaves the party most likely to take the House without a position on the AI buildout that’s eating up corporate capital spending, at a moment when half of Americans oppose a data center within three miles of their home, according to the POLITICO Poll, conducted by PF Global. Ossé, who represents Bed-Stuy and Crown Heights, dropped a primary challenge to Hakeem Jeffries last year after the DSA wouldn’t back him. Forbes’ Isabel Togoh asked whether it matters if a progressive candidate calls himself a socialist. “The number one thing that I care about within our party is taking back this country back from the right,” Ossé said. “Whatever you need to do in order to do that at this point in time, you know, I do support that.” That covered Abdul El-Sayed, the Michigan Democrat who won his Senate primary with Bernie Sanders’ and AOC’s backing and has since insisted he isn’t a socialist. Whatever El-Sayed is doing, Ossé said, “is one that I support in order to beat this fascist, far-right government.” He also said he believes “the direction of this party will go towards democratic socialism.” On AI, Ossé said he doesn’t “really understand it that much” and barely uses it himself. He still had a plan for it. He’d call big tech and AI CEOs to testify before Congress and “maybe be put behind bars for a little bit,” and on Sanders’ proposed one-time 50% stock tax on the biggest AI companies, he said: “Cosign and tax some more.” The data-center panel was where the room was most united, and where the party’s own record looked shakiest. Moderator Dominic-Madori Davis of TechCrunch passed along what a private-equity executive had told her: “people are not upset at data centers, they’re just mad at AI.” Hilary Flint, who organizes against data centers in Pennsylvania for the Center for Oil and Gas Organizing, said the right tends to worry about eminent domain and the left about the environment, but “I’ve never seen people of all beliefs be on the same page about an environmental issue the way they are on this one.” The Pennsylvania Data Center Resistance group on Facebook now has over 44,000 members from across the political spectrum, she said. Maia Woluchem, who has tracked the buildout in the state for Data & Society, put data centers in “a long legacy of industrial obfuscation,” landing in towns that already have fracking wells in backyards and families living next to coal mines. Nationally, the environmental footprint is small. Data centers account for about 1.5% of global electricity demand and 0.5% of global CO2 emissions, according to International Energy Agency data compiled by Carbon Brief. In the U.S., they used 4.4% of the country’s electricity in 2023, according to a Lawrence Berkeley National Laboratory report, a share it projects could reach 6.7% to 12% by 2028. The load is concentrated, though. In Virginia, data centers already use 26% of the state’s electricity, according to figures Carbon Brief cites. The Democrat running Pennsylvania has been on both sides of it. Gov. Josh Shapiro announced Amazon’s $20 billion data center investment in the state, per the AP. After “incredible pushback,” Woluchem said, Shapiro “tried to reverse that decision” a couple of months ago. Flint said activists have pushed the governor to the point of “saying we have the strictest data center laws in the country, which isn’t quite true, but we’re going to get him there.” Her plan for him: “We’re going to move him slowly until he reflects his constituents.” Morris Katz, a partner at Fight Agency and Mamdani’s lead media strategist, later offered Republicans the issue outright. “Republicans can feel free to have the pro-data-center lane if they’d like,” he said, adding that Trump-plus-25 districts are in play because of data centers.

In Brooklyn, a phone-free room of Democrats agreed a blue wave is coming — and debated the data-center identity crisis