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As a consistent performer—proved once again by its stellar Q3 FY26 results—the QSR giant runs smack dab into a market fixated on its ‘tough base’.

As India’s largest stock exchange heads to the public markets, it may need to rethink its excessive reliance on transaction revenue.
The central bank’s shift to a 100% collateral requirement threatens to erode leverage, reduce volumes and force a consolidation across prop desks.
As growth in equities cools, asset managers are looking to embed themselves in payrolls, payments, and credit. This raises their influence, but also the stakes.