India Daily Briefing

Paytm's Q2 FY27 consolidated net profit of ₹226 Crore (vs ₹21 Crore a year ago) is the fintech earnings story of the quarter. Revenue from operations hit ₹2,648 Crore (+28% YoY). The 976% profit jump reflects operating leverage kicking in post-RBI PPI restrictions — the business is leaner and the payment gateway moat is deepening. Watch institutional reaction in tomorrow's session; if FII desks switch from sell to accumulate, the stock gaps up.

IOB's clean Q2 beat — net profit ₹1,912 Crore (+56% YoY) on stronger credit growth and improved asset quality — followed by a $500M external commercial borrowing plan signals PSU bank confidence in the global credit markets window. Tamilnad Mercantile Bank also reported ₹451 Crore net profit (+42%) the same day. Two mid-tier bank beats in one session, both better than consensus, support the Bank Nifty base even as the sector underperformed today.

The Jio Platforms IPO allotment landed today, with status trackable via NSE and Kfin Tech. Jio Platforms is India's most-watched listing in years — the refund cycle from unsuccessful applicants means a sizable lump of capital gets redeployed into the secondary market Tuesday and Wednesday, which often creates a brief midcap/smallcap bid as retail investors rotate. Watch NIFTY Midcap 100 breadth as this redeployment wave hits.