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There’s something for both pessimists and optimists in the QSR player’s Q3 results. Right now, it looks like a coin toss where this business will go next, which makes the euphoric market reaction seem out of place.

Telecom and retail both continue with their ‘hit and miss’, while O2C delivers an unsurprisingly poor performance in Q4. This is a year RIL will be glad to see the back of.
While rivals lost users, India’s largest broker leaned on lending and derivatives to deliver strong growth.
Promoters balk at smaller issues and uncertain pricing, choosing to wait out volatility.