Angel One posted a sharp 84% year-on-year profit increase in the March quarter, outperforming a period marked by broad equity market weakness. The results were driven by a combination of higher trading volumes, improved monetisation across its platform, and operating leverage, indicating that fixed cost absorption improved as revenues scaled. Client activity rebounded during the quarter, lifting order flow and top-line revenue, while the wealth management segment registered growth. Lending activity, however, declined sequentially, signaling some softness in that business line even as the core broking franchise strengthened. The 84% profit jump against a quarter associated with stock market stress is the key signal here: Angel One's revenue mix and cost structure allowed it to convert volume recovery into disproportionate earnings growth. Investors will watch whether the lending drag deepens in the June quarter and whether client acquisition momentum holds as retail participation in equity markets normalizes post the correction.
HDFC Bank's board has approved Rajiv Kumar, former Chief Election Commissioner and financial services secretary, as its Part-time Non-Executive Chairman from June 30, 2026. His chairmanship still requires RBI approval, but the move ends the bank's prolonged search for a permanent board leader.
Indian startups raised $1.1 billion across 16 deals in the week of June 21-26, 2026, up 2.5 times from the prior week, with CRED's $900 million Series H led by Meta accounting for most of the total. Square Yards became India's 131st unicorn after closing a $95 million round.
Jet fuel costs dropped sharply after a US-Iran interim peace deal, but airlines are expected to use the savings to rebuild margins rather than cut fares. Tight capacity, aircraft delivery delays, and weak budget carriers give major carriers unusual pricing power heading into the second half of 2026.
Meta is investing $900 million in CRED at a $4.5 billion valuation, the largest Indian startup round of 2026, as founder Kunal Shah moves to a global leadership role at WhatsApp. Miten Sampat takes over as interim CEO, and a major employee stock buyback is expected within weeks.
