Resumption of double-digit earnings growth is encouraging amidst fluid global macroeconomics & geo-political tensions. Domestic economy got a fillip from reduced GST rates (effective 22nd Sep'25) with auto sector reporting healthy ~20% volume growth and high single digit volume growth in the FMCG space. On the sectoral front, Telecom, Capital Goods and Metals outperformed. The biggest delta to earnings however came in from Oil & Gas space wherein oil refiners (OMC's) posted stellar earnings. Average GRM's for the quarter at...