Quote of the day by John Stuart Mill: “As a rule, Panics do not destroy capital; they merely reveal the extent to which it has been previously destroyed by its betrayal into hopelessly unproductive works

John Stuart Mill’s quote highlights that market panics do not create losses but reveal prior misallocation of capital. The piece explains how speculative excesses built during bull markets surface during downturns, offering a lesson for investors to prioritise fundamentals, disciplined capital allocation and sustainable long-term value creation.

BEL Q1 Results: Net profit rises 9% YoY to Rs 1,054 crore; revenue jumps 25%

Bharat Electronics reported a net profit of Rs 1,054.53 crore for the first quarter. This marks a nearly 9% year-on-year rise from the previous year’s earnings. Revenue from operations grew around 25% year-on-year during the April-June quarter. Sequentially, however, the company’s net profit dropped nearly 52% from the prior quarter. Revenue also declined 46% quarter-on-quarter…