Business
Supermarket giants and high street stalwarts to reveal festive figures
Tesco and Sainsbury’s will reveal whether it was a merry Christmas across their supermarket operations in festive trading updates next week, while Next and Marks & Spencer also report back from the high street.
The UK’s two biggest grocery chains have been battling it out to win over shoppers with their Christmas advertising campaigns and beat off ever-increasing competition from discounters Aldi and Lidl.
Figures from Tesco on Thursday will show how it fared in the so-called golden quarter, having hiked its earnings guidance in October to between £2.9 billion and £3.1 billion.
Christmas trading will be crucial to Tesco meeting guidance, and chief executive Ken Murphy has warned the industry remains “incredibly competitive” amid a price war in the sector.
AJ Bell experts said: “As is the case with many retailers, Tesco’s shares have lost a little momentum since November, and the run-up to the Budget from Chancellor Rachel Reeves.
“However, they are still up by a fifth in the past year and stand very close to levels last seen in 2010.”
The chain has increased its share of the market to 28.3% in recent weeks, according to Worldpanel, and is looking to beat sales growth of 3.7% seen in the previous six-week Christmas period.
Sainsbury’s figures on Friday also come after it recently increased its earnings outlook, saying it is now set for retail earnings of more than £1 billion after a better-than-expected half-year performance.
The group, which also owns the Argos chain, last year saw grocery sales rise 4.1% in the quarter to January, but more disappointing trading in Argos held overall growth back, with sales across the business up 2.7%.
Aarin Chiekrie, equity analyst at Hargreaves Lansdown, said: “The ongoing cost-cutting programme is helping to offset higher employment costs, and savings are also being reinvested in keeping food prices down.
“That should have helped lure in more customers in the run-up to Christmas, a period where shopping trollies get piled higher than usual.”
Outside of the supermarket sector, retail titans Next and M&S will give their verdict on Christmas trading on Tuesday and Thursday respectively.
Next is expected to cap another solid year of trading, having recently upped its guidance once again, saying it expects sales over the festive quarter to be significantly higher than previously predicted.
The fashion and homewares chain said at the end of October it expects full price sales to grow by around 7% in the quarter to January, increasing its guidance from 4.5%.
However, it has repeatedly cautioned over the consumer backdrop and will be watched closely for further comments on how consumer spending is holding up.
Fellow retail bellwether M&S will be hoping for a solid festive performance to help “draw a line under what has been a tough 2025”, according to Mr Chiekrie.
A cyber attack in April hit online sales hard after M&S was forced to suspend all website sales for six weeks, leading to a plunge in first half profits.
With a lingering but smaller impact of the hack in the second half, it will be looking for this to be offset by strong demand for its festive food and fashion ranges.
“The worst looks to be behind M&S now, but the group has some work to do to rebuild investors’ confidence,” said Mr Chiekrie.
Sales figures from Greggs, also on Thursday, will be examined for signs of better trading after slowing sales growth in recent months and a profit warning in July.
The group was impacted by warmer weather in the summer, but has also flagged tough market conditions and weak consumer confidence.
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HDFC Bank now offers airport lounge access via digital vouchers for debit cards, with a doubled Rs 10,000 quarterly spend. Physical card swipes are discontinued.
HDFC Bank Doubles Spend Requirement for Complimentary Lounge Access
HDFC Bank Airport Lounge Access Rules 2026: HDFC Bank has revised the rules for complimentary airport lounge access on its debit cards, shifting to a voucher-based access system and increasing the minimum spending requirement. The changes have come into effect from today, January 10.
Until now, eligible debit cardholders could enter airport lounges by swiping their physical card. Under the new system, lounge access will be granted only through digital vouchers, issued to customers who meet the spending criteria.
Once eligibility is confirmed, the bank will send an SMS or email with a link to claim the voucher. Customers will need to complete OTP verification using their registered mobile number. After successful verification, a voucher code or QR code will be issued, which must be shown at the lounge for entry.
Minimum Spend Doubled For Most Cards
HDFC Bank has doubled the quarterly spend requirement for complimentary lounge access on most debit cards.
Customers must now spend Rs 10,000 or more per calendar quarter from Rs 5,000 earlier. The spend can be through single or multiple transactions, online or offline. The revised spending condition does not apply to the Infiniti Debit Card, which continues to offer lounge access without any minimum spend.
Complimentary Lounge Visits Remain Unchanged
The number of free lounge visits will continue to depend on the debit card variant:
Millennia Debit Card: 1 visit per quarter
Platinum Debit Card: 2 visits per quarter
Times Points Debit Card: 1 visit per quarter
Business Debit Card: 2 visits per quarter
GIGA Debit Card: 1 visit per quarter
Infiniti Debit Card: 4 visits per quarter
Only purchase transactions made using the debit card will count toward the quarterly spend. The following are excluded, Moneycontrol noted:
ATM Cash Withdrawals
- UPI or wallet payments (GPay, PhonePe, Paytm, etc.)
- Credit card bill payments via debit card
- Debit card EMI transactions
- New debit cardholders will also need to meet the Rs 10,000 spend threshold to become eligible.
Voucher Validity And Lounge Rules
Once issued, lounge vouchers will remain valid until the end of the next calendar quarter.
For instance:
Voucher generated on November 15, 2025 → valid till March 31, 2026
Voucher generated on January 10, 2026 → valid till June 30, 2026
Lounge access will continue on a first-come, first-served basis, with lounges retaining the right to impose stay limits—typically two to three hours—or deny entry due to operational, safety or regulatory reasons.
What this means For Customers
HDFC Bank’s updated lounge access programme places greater emphasis on higher card usage and digital verification. Customers who rely on complimentary lounge benefits will need to closely track their quarterly spending and note that physical debit card swipes will no longer work from January 10.
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January 10, 2026, 14:26 IST
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Business
What Is Core-and-Satellite Strategy And How Can It Help Investors Navigate Market Volatility?
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The ‘core’ typically makes up around 60–70% of a portfolio and is meant to deliver stable returns while serving as its foundation.
Small and mid-cap stocks produced 14-17% returns in the last 20 years. (representative image)
Navigating financial markets often seems like an uphill task as investors need to balance the desire for growth with the fear of sudden downtrends. When markets fall, people struggle to find the right direction while chasing high returns and protecting their wealth from volatility. Too much risk can lead to panic mode, while excessive caution could leave your portfolio lagging behind inflation and long-term goals.
A practical solution here is the core-and-satellite strategy emerges as a practical solution. Under this, investors get to combine a stable “core” of diversified, low-cost investments with the dynamic “satellite” portion to target higher-growth opportunities. Not only does it allow them to achieve resilience and flexibility, but the strategy also ensures steady progress even during turbulent times. By following this dual approach, people can cushion portfolios against market downfalls.
How Does It Work?
According to Moneycontrol, the “core” usually accounts for nearly 60-70 per cent of the portfolio. It is specifically designed to provide steady returns and act as the anchor of your portfolio.
It comprises stable, low-cost funds:
1. Large-cap equity funds: Your hard-earned money gets invested in established companies having proven business models. Often, it is seen that they appear to fall less compared to mid and small-cap funds.
2. Flexi-cap funds: The fund managers keep shuffling the investment between large, mid and small caps, depending on the ongoing condition of the market. In simple terms, these add flexibility and diversification to the portfolio.
3. Hybrid funds: A combination of equity and debt, these are meant for growth and stability.
However, investors must note that even the “core” is not free from risk. Moneycontrol report highlights how markets fell nearly 14 per cent between October 2024 and February 2025.
The Role of Satellite Investments
Keeping core aside, the remaining 30-40 per cent is what makes up satellite investments.
“The satellite portfolio allows tactical exposure to high-growth sectors, themes, or strategies,” the report quoted Kirang Gandhi, a Pune-based financial mentor, as saying.
This includes mid-cap and small-cap funds that hold higher growth potential. Also, it features international equity funds.
This highlights that it is the growth engine of the portfolio, but also carries substantial risk.
A key part of the core-and-satellite approach is “balance,” where the core allows the money to grow steadily and the satellite portion adds more potential without putting the portfolio at risk.
In the last 20 years, the small and mid-cap indices have generated nearly 14-17 per cent returns on an annual basis, leaving behind large-cap indices. Investors must note that falls are more frequent in mid and small-cap stocks.
Using the core-and-satellite strategy, investors get to diversify their portfolio without making it too complicated.
Kirang Gandhi said this strategy combines safety with smart opportunity for Indian investors and avoids overexposure.
“It brings structure, discipline, and clarity to long-term wealth building without chasing trends,” Gandhi concluded.
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January 10, 2026, 13:40 IST
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BENGALURU: Masayoshi Son-led SoftBank Group pared its holding in Ola Electric Mobility to 13.5% from 15.6%, in what appears like a staggered exit from the electric 2-wheeler maker that was once among its marquee India bets. SVF II Ostrich (DE), a SoftBank affiliate and Ola Electric’s second-largest shareholder after founder Bhavish Aggarwal, sold 9.4 crore shares through open market transactions between Sept 3, 2025, and Jan 5, 2026, according to a regulatory filing.
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