Indian Stocks Surge as Titan and Hitachi Energy Report Strong Earnings

Indian stocks are experiencing a surge in profits as several companies report strong earnings. Titan, a leading jewelry maker, saw its net profit increase by 63% year-over-year to ₹1,777 crore, driven by a 43% growth in jewelry revenue.

The company's international jewelry business experienced a significant jump of 136%, contributing to the overall revenue growth. However, an executive noted that the Middle East conflict and weak plain gold demand have led to a decline in footfall at Damas Jewelry.

Hitachi Energy, another major player, reported a 123.5% year-over-year increase in net profit to ₹294.2 crore. The company's revenue jumped by 68.6% to ₹2,493.7 crore, with order inflows standing at ₹5,096.5 crore and a record backlog of ₹32,222.1 crore.

Mid-cap companies such as Inox Green Energy Services and Dynamatic Technologies also demonstrated robust profitability growth, with Inox Green's consolidated net profit jumping 75% year-over-year to ₹407.9 crore and Dynamatic's net profit surging by 93% to ₹207.9 million.