Newsletter
Cartoon Network gets humbled, ₹ on a roll, and A non-committal ceasefire.
🗓️ Morning, folks! ☀️
Let’s kick off today’s newsletter with some nostalgia.
Did you grow up watching Ben 10, Oggy and the Cockroaches or Courage the Cowardly Dog? Well, someone may have just cracked open Cartoon Network’s animation vault.
Over 200GB of behind-the-scenes files from shows like The Powerpuff Girls and The Amazing World of Gumball have reportedly leaked online, including character sketches, storyboards and digital models that reveal how these cartoons were made.
Who leaked them, and why? That’s still a mystery.
The files surfaced through an anonymous account on X, just days after Skydance completed its roughly $110 billion acquisition of Warner Bros. Discovery on October 6.
There’s no confirmed link between the two, though. And while fans get a rare nostalgia trip, the leak raises concerns about artists’ work being shared without permission.
Moving on, it wasn’t a good Monday for the markets. The Sensex and Nifty fell a little over 0.7% each.
Crude-sensitive stocks declined as Brent crude rose to $106 per barrel, with IndiGo and Asian Paints falling nearly 1%.
On the sectoral front, Nifty Media and Nifty Chemicals outperformed, while Nifty FMCG and Nifty PSU Bank recorded the sharpest declines.
💡 Spotlight: RBI’s bet on the rupee 💸
The rupee posted its biggest gain in six months, opening at 95.76 per dollar on Monday, compared with Friday’s close of 96.73.
It gained around 1% after the RBI introduced measures over the weekend to ease dollar demand in the spot market and curb speculative currency trades.
What’s going on: the RBI has opened a separate channel for Indian Oil, HPCL and BPCL to buy the dollars they need to pay for imported oil.
This takes their large daily purchases out of the regular currency market. When fewer buyers compete for dollars there, it can ease upward pressure on the dollar and help the rupee stabilise.
The RBI also wants to make big currency bets harder.
For certain trades above $5 million, people must now show a real need for the dollars, such as paying for imports. Earlier, this rule applied only above $100 million.
Banks must also keep 20% of the value of certain deals aside in cash. This can make those deals costlier. Fewer people buying extra dollars can help stop the rupee from falling too quickly.
Let’s hit it! 💪🏻
1 Big Thing: India’s retail inflation hits 23-month high 🛒
India’s retail inflation, measured by the Consumer Price Index (CPI), rose to 5.54% in September 2026, its highest level in 23 months, from 4.82% in August.
Decoding the numbers: the RBI had forecast average inflation of 4.9% for July-September. That is a three-month average, so September’s figure alone cannot tell us whether inflation exceeded its forecast.
Food inflation rose sharply to 7.74%, up from 5.97% in August. Transport costs also increased, with goods transport prices rising 14.73% and personal transport prices climbing 7.46%.
What the RBI expects: after its latest policy decision, Governor Sanjay Malhotra said inflation could average nearly 5.8% over the next three quarters. The RBI raised its inflation forecast for FY27 to 5.2%, from 5% earlier.
He also warned that a weak monsoon and strong El Niño conditions could hurt farm production and reduce spending in rural areas. However, large foodgrain stocks and government measures could help limit the impact.
Why oil matters: India depends heavily on imported energy, leaving it exposed to supply disruptions from the Iran war. Before the conflict, a large share of its energy supplies passed through the Strait of Hormuz.
Higher oil prices can make transport and deliveries more expensive, pushing up the prices of everyday goods.
2. Another day, another ceasefire but nobody got the memo 🤦♂️
US President Donald Trump said on Sunday that Russia and Ukraine had agreed to an energy ceasefire, meaning both countries would stop attacking each other’s oil and energy facilities.
This comes just days after the US and Russia struck a deal that Trump said would bring more than 4 million tonnes of Russian diesel into the global market following his phone call with President Vladimir Putin.
But here’s the twist: Ukrainian President Volodymyr Zelensky told Axios that Trump’s ceasefire announcement was news to him. Later, he added that Ukraine would be willing to stop attacking Russian energy facilities, but only if Moscow agreed to do the same.
And Russia is yet to publicly confirm the agreement.
Big picture: the Trump administration has used sanctions and trade pressure against countries purchasing Russian oil, including India.
The argument has been that buying Russian energy helps Moscow earn money that could support its war against Ukraine. But now, Trump has announced an agreement that could bring millions of tonnes of Russian diesel back into global markets.
3. Is AI driving foreign investors away from India? 😐
In 2024, India accounted for nearly 20% of the MSCI Emerging Markets Index.
Taiwan and South Korea have gained a bigger share of the index, although the recent sell-off across all three markets shows that AI isn’t the whole story.
Foreign investors are finding new favourites, although the recent sell-off across all three markets shows that AI isn’t the whole story.
4. DMart is selling more. Why isn’t it earning much more? 🤒
DMart’s billing counters are busy. Its profit counter, not so much.
In Q2, revenue rose 17.8% to ₹19,644 crore, but profit grew only 8.5% to ₹743 crore. Its operating margin slipped from 7.3% to 7.1%, meaning it earned less operating profit from every ₹100 in sales.
We look at what is squeezing DMart, and whether quick commerce is about to make the aisle fight even messier.
5. Stocks that kept us interested 🚀
What went up ⬆️
🚁 Ideaforge Tech jumped 10% after signing a ₹151 crore loan agreement with the Technology Development Board.
🚜 Swaraj Engines rallied more than 9% after the company announced its Q2 results.
🚗 CarTrade surged 8% after UBS initiated a buy rating with a target price of ₹4,000, citing strong growth potential and improving profitability in its OLX India business.
💻 63 Moons Tech rose more than 7% as its subsidiary raised its FY27 revenue guidance to ₹600 crore.
🚢 Swan Defence rose more than 4% on reports of a potential ₹1,897 crore tanker order.
🛣️ IRB Infra gained more than 2% after raising toll guidance.
What went down ⬇️
👓 Lenskart slipped 4% after 2.93 crore shares worth ₹1,895 crore changed hands in a block deal window.
🫤 Tech Mahindra fell more than 3% ahead of the company’s board meeting later this week.
What else are we snackin’ 🍿
👀 Earnings season: HCLTech’s Q2 profit rose 11% and revenue grew 3% compared with the previous quarter. It also added 6,450 employees and recommended a ₹12-per-share interim dividend.
📦 Pin code power: Blue Dart is teaming up with India Post to reach more small towns and remote areas.
🏭 Steel goals: India wants to nearly triple steel capacity to 604 million tonnes by 2047, while cutting emissions and securing key raw materials.
That’s a wrap! Don’t let the weekday blues get to you.
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Disclaimer: this newsletter is for informational and research purposes only. Nothing here should be considered financial, investment, legal, or professional advice.
