The list is dominated by capex plays as the impact of the upcycle is being noticed in both earnings as well as share prices. Topping the chart are two rail stocks – Titagarh Rail Systems and Jupiter Wagons – which have been reporting at least a 100% YoY jump in their profits. In the September quarter, Titagarh reported a 107% rise in PAT and 54% sales growth while Jupiter saw its profit rising 233% against 111% growth in sales.
Shorter-dated US Treasury yields surge in anticipation of another Fed rate hike
The Federal Reserve increased interest rates for the first time in over three years. Policymakers anticipate at least one more quarter-percentage-point hike by year-end. Shorter-dated