The company's fundamentals show mixed signals: while long-term sales growth has been steady, recent profit growth reflects recovery with a sharp TTM rebound after sustained weakness in the 5-year and 3-year periods. ROE is robust at 38.5%, suggesting efficient capital management.
Quarterly performance raises caution for retail investors as both net profit (-12.52% YoY) and operating profit have declined despite a modest sales increase (+5.76% YoY), indicating margin pressure. Valuations appear reasonable with a low P/E of 13.6 and high dividend yield of 9.24%, but sustained profit pressure could weigh on stock performance in the near term.
News TidBits
Vedanta Ltd achieved record production across aluminum, zinc, and pig iron segments in Q2 FY26, boosting investor confidence with shares up 1.3%.
Global commodity trends, particularly in base metals, coupled with supply-side constraints, have positively impacted Vedanta's margins and revenue stability.
The company's focus on optimizing operational efficiency amid favorable macroeconomic conditions positions it as a strong performer for retail investors.
With worldwide inflation easing, Vedanta's export competitiveness improves, enhancing profitability in international markets.
Continued strong production figures in Q3 could further accelerate institutional inflows and support long-term stock performance.
Stacks on Stacks: Tip Time 🤑
Investing in your future requires balancing the power of compounding with the art of periodic portfolio rebalancing to optimize returns and manage risks.
Inside The Fund
Mirae Asset Large Cap Fund
Fund Size: ₹ 39476.52 Cr
NAV: ₹ 127.292 (as on 03rd October, 2025)
1 Year
0.52%
Category: -0.84%
2 Year
14.59%
Category: 16.53%
3 Year
15.09%
Category: 17.02%
5 Year
17.89%
Category: 19.26%
10 Year
14.45%
Category: 13.58%
Stocks Added
Stock
Sector
1M Change
Hero Motocorp Ltd.
2/3 wheelers
0.47%
Bajaj Auto Ltd.
2/3 wheelers
0.37%
Mphasis Ltd.
Computers - software & consulting
0.14%
Divis Laboratories Ltd.
Pharmaceuticals
0.12%
Top 10 Holdings
Stock
Holding %
1M Change
HDFC Bank Ltd.
9.68%
-0.35%
ICICI Bank Ltd.
8.15%
0.51%
Infosys Ltd.
5.83%
-0.18%
Reliance Industries Ltd.
4.65%
-0.05%
ITC Limited
4.33%
0.38%
Bharti Airtel Ltd.
3.99%
0.00%
Tata Consultancy Services Ltd.
3.83%
-0.10%
Larsen & Toubro Ltd.
3.49%
0.01%
Axis Bank Ltd.
3.22%
-0.12%
Maruti Suzuki India Ltd.
2.54%
0.70%
The Common Ground
Shows the commonly added & removed stocks by mutual funds last month
Top Added (3)
TVS Motor Company Ltd. - Preference Shares
9 funds
ICICI Prudential Large & Mid Cap Fund- Direct Plan - Growth
0.01%
HDFC Large and Mid Cap Fund - Direct Plan - Growth
0.00%
Canara Robeco Large and Mid Cap Fund - Direct Plan - Growth
0.05%
Axis Large & Mid Cap Fund - Direct Plan - Growth
0.01%
Bandhan Large & Mid Cap Fund - Direct Plan - Growth
0.01%
Invesco India Large & Mid Cap Fund - Direct Plan - Growth
0.02%
Nippon India Vision Large & Mid Cap Fund - Direct Plan - Growth
0.01%
Aditya Birla Sun Life Large & Mid Cap Fund - Direct Plan - Growth
0.02%
Edelweiss Large and Mid Cap Fund - Direct Plan - Growth
0.01%
Britannia Industries Ltd.
2 funds
Canara Robeco Large and Mid Cap Fund - Direct Plan - Growth
0.34%
Nippon India Vision Large & Mid Cap Fund - Direct Plan - Growth
0.75%
TVS Motor Company Ltd.
2 funds
Motilal Oswal Large and Midcap Fund - Direct Plan - Growth
0.54%
Nippon India Vision Large & Mid Cap Fund - Direct Plan - Growth
0.93%
Top Removed (4)
NMDC LTD
2 funds
ICICI Prudential Large & Mid Cap Fund- Direct Plan - Growth
-0.28%
UTI Large & Mid Cap Fund - Direct Plan - Growth
-0.20%
Hero Motocorp Ltd.
2 funds
Canara Robeco Large and Mid Cap Fund - Direct Plan - Growth
-0.16%
DSP Large & Mid Cap Fund - Direct Plan - Growth
-0.53%
Inox Wind Ltd. - Rights
2 funds
Motilal Oswal Large and Midcap Fund - Direct Plan - Growth
-0.03%
Bandhan Large & Mid Cap Fund - Direct Plan - Growth
0.00%
Indusind Bank Ltd.
2 funds
Bandhan Large & Mid Cap Fund - Direct Plan - Growth
-0.14%
Aditya Birla Sun Life Large & Mid Cap Fund - Direct Plan - Growth
-0.68%
Top News Developments
RBI upgrades FY26 GDP growth forecast to 6.8%, boosts investor confidence
The RBI revisited GDP growth estimates due to stronger domestic demand and resilient consumption amidst global uncertainties.
Stable repo rates and broader financial market reforms signal sustainable macroeconomic outlook.
Banks and financial services sectors are expected to show prolonged bullish trends due to increased credit demand and lending reforms.
Metals sector rallies on Fed rate cut hopes and steady base metal prices
Optimism toward a US Fed rate cut strengthens metal-related industrial activity, aiding Indian producers through improved export margins.
Stable base metal prices coupled with supply-side constraints boost revenues for major players like Tata Steel and Hindalco.
Liquidity inflows into metals sector stocks could yield short-term gains amidst global commodity price stability.
Banking sector outperformance driven by RBI’s growth stance and reforms
Private and PSU banks rallied on positive macroeconomic signals strengthened by RBI-led reforms.
Expanded digital banking scope and NPA resolutions improve operational health for major banks like SBI and HDFC Bank.
Credit growth in manufacturing and consumer sectors can catalyze sustained sector bullishness over upcoming quarters.
Indian IPO scene heats up with Tata Capital’s record launch
Tata Capital's IPO, worth ₹15,500 crore, is set to redefine India's equity market, with anchor investments underscoring high confidence.
Retail investors should weigh risks of subscription mania against the backdrop of broader market uncertainty.
Other IPO launches this week, such as LG Electronics and Rubicon Research, show strong sector diversification opportunities.
IPO Watchlist
Ongoing IPOs
WeWork India's IPO, worth ₹3,000 crore, has shown subdued subscription levels at 0.04x as of October 4, reflecting lukewarm investor enthusiasm. With listing scheduled for October 10, retail investors may need to assess market sentiment carefully before participating.
WeWork India
3000.00
Date: 3 Oct - 7 Oct
List: 10 Oct
Subscription: 0.04x
GMP: 0.77%
Upcoming IPOs
Rubicon Research’s IPO, set to launch on October 9, has a GMP of 8.66%, signaling moderate valuations for retail investors. LG Electronics is poised for strong demand with a GMP of 19.30%, representing an attractive opportunity for those seeking exposure to the consumer electronics sector. Tata Capital, India’s largest IPO of 2025 worth ₹15,500 crore, begins on October 6 with strong anchor investor interest, making it a pivotal event for the market.
Rubicon Research
1377.50
Date:9 Oct - 13 Oct
List:16 Oct
Subscription: -
GMP: 8.66%
Anantam Highways InvIT
400.00
Date:7 Oct - 9 Oct
List:17 Oct
Subscription: -
GMP: 0.00%
LG Electronics
11607.01
Date:7 Oct - 9 Oct
List:14 Oct
Subscription: -
GMP: 19.30%
Tata Capital
15511.87
Date:6 Oct - 8 Oct
List:13 Oct
Subscription: -
GMP: 2.76%
Cha-Ching Cheatsheet 💵
The broader market often follows herd psychology, but disciplined investors find success by buying during panic and selling during euphoria.
Global Markets
Country
Category
Current PE
Forward PE
Forward PEG
🇬🇧 United Kingdom
Highly Undervalued
13.8
1.0
5.5
🇯🇵 Japan
Undervalued
17.5
0.9
1.5
🇫🇷 France
Undervalued
16.9
0.9
1.4
🇰🇷 South Korea
Undervalued
12.2
0.7
0.2
🇮🇩 Indonesia
Undervalued
16.3
0.7
0.3
🇩🇪 Germany
Fairly Valued
19.7
0.8
0.8
🇹🇭 Thailand
Fairly Valued
15.1
-
-
🇮🇳 India
Fairly Valued
21.6
1.0
7.8
🇨🇳 China
Fairly Valued
16.7
0.9
1.3
🇦🇺 Australia
Fairly Valued
21.4
1.0
-8.1
🇸🇬 Singapore
Overvalued
15.4
-
-
🇺🇸 United States
Overvalued
24.8
0.9
1.9
🇭🇰 Hong Kong
Highly Overvalued
11.9
1.2
-0.8
* Valuation category is calculated as a weighted average of PE ratio, CAPE, forward PE, historical PEG, and forward PEG. We are currently showing PE, Forward PE, and Forward PEG for reference.
Global markets were mixed with the Dow Jones hitting fresh highs (+0.5%) while the S&P 500 was flat and Nasdaq under pressure due to weakness in technology stocks.
Asian markets broadly showed strength, with South Korea (+2.7%), Japan (+1.9%), and Taiwan (+1.5%) gaining on 4 October 2025, which positively influenced investor sentiment in India.
Global investors anticipated a Federal Reserve interest rate cut in October, contributing to a softer dollar index and support for commodity prices, benefiting metal stocks in India.
Uncertainties persisted due to the US government shutdown concerns and unresolved US-India trade discussions, which kept global risk appetite cautious.
Safe-haven demand remained elevated with gold extending gains globally, reflecting mixed risk sentiment but encouraging inflows into precious metals.
Emerging Opportunities
Metals sector remains a key emerging opportunity supported by steady base metal prices, industrial demand, and positive global commodity trends.
Banking and financial services show promising growth potential driven by RBI reforms aimed at boosting bank lending and deepening capital markets.
Opportunities in consumer durables are gaining traction amid sustained festive demand, signaling potential medium-term consumer market recovery.
Gold and silver offer contrarian investment appeal due to safe-haven demand and supply-side constraints, which may influence portfolio diversification strategies.
Policy reforms announced by the RBI and government stimulus measures create prospects in capital markets, fostering a favorable environment for equity market participation over the medium to long term.
Policy & Regulations
The RBI now allows banks to finance domestic mergers and acquisitions, opening significant credit opportunities and aligning with global banking practices. This reform can significantly increase loan demand and propel growth in corporate and banking sectors. Additionally, NSE announced a reduction in Nifty 50 lot sizes for futures and options trading effective December 30, a move aimed at enhancing retail participation and optimizing margin requirements.
Crypto Buzz
Name
Price
Market Cap
24h Change
ATH Change
Bitcoin (BTC)
$122104
$2.43T
1.38%
-1.61%
Ethereum (ETH)
$4491.25
$542.13B
0.14%
-9.17%
XRP (XRP)
$2.99
$179.01B
-1.69%
-18.01%
Tether (USDT)
$1
$176.31B
-0.01%
-24.39%
BNB (BNB)
$1150.44
$160.06B
3.89%
-3.55%
Bitcoin showed a modest 1.38% gain over 24 hours, reflecting resilience amid broader global uncertainties while maintaining its market dominance with a capitalization of $2.43 trillion.
Ethereum's negligible price movement (+0.14% in 24 hours) indicates a consolidation phase, signaling low volatility and stable investor sentiment in the crypto markets.
Tether's stability at $1 and XRP’s decline of -1.69% highlight contrasting dynamics, with XRP's fall reflecting pressure tied to regulatory concerns and liquidity challenges.
Indian Macroeconomy
Currency
Exchange rate against USD
88.74
0.02
Previous: 88.72
As of Oct 25
Nominal GDP
Annual growth including inflation
7.8%
0.4%
Previous: 7.4%
As of Jun 25
CPI Inflation
Consumer price increase
2.07%
0.46%
Previous: 1.61%
As of Aug 25
Repo Rate
RBI lending rate
5.5%
→
0%
Previous: 5.5%
As of Oct 25
Trade Balance
Exports minus imports
$-26.49B
$0.86B
Previous: $-27.35B
As of Aug 25
Current Account
Global trade, income & transfers
$-2351M
$-15828M
Previous: $13477M
As of Jun 25
Mfg PMI
Manufacturing activity level
57.7 points
-1.6 points
Previous: 59.3 points
As of Sep 25
Services PMI
Services activity level
61.6 points
-1.3 points
Previous: 62.9 points
As of Sep 25
The Reserve Bank of India upgraded its FY26 GDP growth forecast to 6.8%, signaling improved domestic demand and strengthened economic fundamentals. The RBI's decision to maintain the repo rate at 5.5% provides a stable monetary policy backdrop, enhancing investor confidence in the banking and real estate sectors. Additionally, inflation rose slightly to 2.07%, which remains well within comfort zones, supporting the broader macroeconomic outlook.
Inside The Fund
Stocks Added 
Top Removed (4) 
