Trump Endorses Japan’s Sanae Takaichi Ahead of Crucial Election Amid Market and China Tensions 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal 
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
Gold and Silver Prices Slide as Dollar Strength and Easing Tensions Weigh on Metals 
Thailand Inflation Remains Negative for 10th Straight Month in January 
Silver Prices Plunge in Asian Trade as Dollar Strength Triggers Fresh Precious Metals Sell-Off 
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility 
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility 
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
Asian Markets Slip as AI Spending Fears Shake Tech, Wall Street Futures Rebound 
Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals 
Dollar Steadies Ahead of ECB and BoE Decisions as Markets Turn Risk-Off 
Tech Mahindra Exceeds Q2 Revenue Forecast Amid Telecom Challenges
Indian IT giant Tech Mahindra reported stronger-than-expected revenue growth for the second quarter of FY24, supported by gains in the European and BFSI (Banking, Financial Services, and Insurance) segments.
Strong Revenue Growth
Tech Mahindra’s revenue grew by 3.49% for the quarter ending in September, reaching ₹133.13 billion ($1.58 billion), surpassing analysts' estimate of ₹131.9 billion. The BFSI segment experienced a notable 4.5% growth, while Europe and the Rest of the World markets surged by 4.1% and 9.7%, respectively. However, order bookings declined to $603 million, compared to $640 million in the same period last year.
Telecom Sector Slump
Despite overall growth, the company's telecom sector, which accounts for a third of its revenue, continues to face challenges. CEO Mohit Joshi attributed the sluggish performance to macroeconomic and geopolitical risks, stating that major telecom clients are focusing on cost-cutting and limiting discretionary spending.
Net Profit Boost
Tech Mahindra’s net profit skyrocketed by 153% to ₹12.5 billion ($149 million), primarily driven by a one-time gain from asset sales. The company's three-year turnaround plan, launched in April 2024, aims to boost revenue and double its operating margin to 15% by FY27.
Future Outlook
Joshi emphasized that the company is in the early stages of its turnaround and anticipates volatility in its telecom and BFSI portfolios in the coming quarters.
