Canara Bank shares surged 4% to a 52-week high after reporting a 19% YoY rise in Q2 FY26 net profit to ₹4,774 crore. Asset quality improved sharply, with GNPA falling to 2.35% and credit cost easing to 0.68%, reflecting strong operational efficiency and credit discipline.

Veteran investor Shankar Sharma defended Lenskart’s IPO valuation, calling it fair at ~10x sales versus other tech IPOs, while critics argue the eyewear firm’s market remains niche and limited.

The Indian rupee weakened significantly on Thursday, reaching its lowest point in two weeks. This decline was driven by increased dollar demand and a hawkish stance from the U.S. Federal Reserve. Traders noted that the Reserve Bank of India intervened to limit losses but not aggressively. Asian currencies also saw a downturn. U.S. Treasury yields climbed higher.

Indian stocks declined on Thursday as the U.S. Federal Reserve cut interest rates but signaled a potential pause in further reductions for 2025. This move, coupled with uncertainty over the U.S. economic outlook due to the government shutdown, dampened investor sentiment and pressured emerging market equities.

Swiggy Q2 Results: Food delivery giant Swiggy reported a consolidated net loss of Rs 1,092 crore for the September quarter, an increase from the previous year s Rs 626 crore loss. Despite the wider loss, the company saw a significant 54% year-on-year revenue growth, reaching Rs 5,561 crore in the same period.

Benchmark indices ended lower as selling hit banking, auto, and IT stocks. Vaibhav Global, Canara Bank, and Sagility gained on strong Q2 results, while Vodafone Idea and Dr Reddy’s declined sharply.

ITC Q2 Results: Diversified conglomerate ITC Ltd reported 3% year-on-year (YoY) growth in its net profit at Rs 5126 crore in the second quarter. Revenues declined 1% YoY to Rs 21,256 crore.

Adani Power on Thursday reported an 11% year-on-year (YoY) fall in its consolidated net profit at Rs 2,953 crore.

Gold loan players like Muthoot Finance are expected to see continued growth despite gold price fluctuations, driven by market leadership and internal productivity. Analysts see a robust outlook for NBFCs, with rate cuts and GST simplifications benefiting consumer and gold financiers. The microfinance sector is also showing signs of a turnaround, with improving asset quality and business augmentation.

Canara Bank reported an 18.7% year-on-year rise in standalone net profit to Rs 4,773.96 crore for Q2FY26, supported by strong growth in operating profit and improved asset quality. Global business expanded 13.55% YoY, while gross NPAs fell to 2.35% and ROA improved to 1.12%, reflecting robust operational efficiency.