Nigel D'Souza

Aluminium prices fell to their 2026 lows on October 15 amid ample supplies outside West Asia, a faster-than-expected restart of smelting infrastructure in the region and rising Chinese exports despite a 30% export duty.

Global investors are waiting for better entry points into Indian equities as valuations and high oil prices remain key concerns, according to Aurveil Capital Founder and CIO Conrad Saldanha. He believes the ongoing correction could create stock-specific opportunities in NBFCs, manufacturing exporters and power equipment companies.

HDFC Securities CEO Dhiraj Relli said midcap and smallcap stocks have faced sharp selling pressure, with retail investors and HNIs driving much of the activity.

Strong order inflows and healthy near-term prospects are supporting power and industrial companies, but valuations remain a concern for Mirae Asset Mutual Fund. Senior fund manager Ankit Jain flags potential delays in global AI investments and capital expenditure, while a sharp market correction could create fresh investment opportunities.

The other positive seen during Bharat Coking Coal's results this quarter was a decline in receivables, which fell to ₹2,105 crore at the end of the September quarter, from ₹2,863 crore in March.

BlackRock remains structurally overweight on India and expects foreign investor flows to return after the US midterm elections as geopolitical uncertainty eases. The asset manager believes India's growing household participation in financial markets will become a key source of capital to finance long-term economic growth.

Neeraj Akhoury, Managing Director of Shree Cement, also expects strong demand in the Middle East, particularly in the UAE, where the company’s cement capacity has reached 7 million tonnes.

JSW Steel expects sequential improvement in EBITDA margins during the October-December quarter as higher steel prices offset rising coking coal costs. The company also sees stronger domestic demand, higher overseas volumes and continued capacity expansion supporting growth in the second half of the financial year.

Sanjay Lodha, Chairman and Managing Director of Netweb Technologies Limited, expects AI systems to contribute 40–45% of FY27 revenue, driven by strong demand.

Castrol India expects to maintain its 21-24% EBITDA margin despite sharp raw material inflation, supported by pricing actions and cost controls. MD Saugata Basuray said industrial lubricants continue to deliver double-digit volume growth, while the company remains prepared to respond to further input cost volatility.