FINANCEOUTLOOKINDIANOVEMBER, 20268REPORTTONBO IMAGING Q2 RESULTS: REVENUE JUMPS 20X, PROFIT AT RS 23.5 CRRBI FORMS FINANCIAL MARKETS COMMITTEE WITH TOP BANKING EXPERTSBENGALURU STARTUP ALTM RAISES $10.3 MILLION FUNDING IN SERIES A ROUNDCRUDE OIL PRICES FALL NEARLY 18% IN A WEEK AS BRENT HITS TWO-MONTH LOWDefence-tech company Tonbo Imaging reported a more than 20-fold year-on-year (YoY) increase in revenue from operations in its first quarterly results after listing on the stock exchanges. Tonbo Imaging Q2 results shows that the startup turned profitable, supported by a sharp rise in operating income. Tonbo Imaging recorded a significant increase in revenue as its business scaled up during the September quarter. Revenue from operations rose to Rs 183.3 crore from Rs 8.9 crore in Q2 FY26, representing growth of approximately 20.6 times.On a sequential basis, revenue from operations increased more than fivefold from Rs 36 crore in the preceding quarter. Founded by Ankit Kumar, Arvind Kondangi Lakshmikumar and Cecilia D'Souza, Tonbo Imaging develops advanced imaging and surveillance technologies for defence and security applications. Its product portfolio includes thermal imaging systems, weapon sights, targeting solutions, missile seekers and fire control systems. The Reserve Bank of India (RBI) has constituted a financial markets committee to strengthen engagement with industry participants. The Technical Consultative Committee for Financial Markets (TCCFM) will advise the central bank on policy and operational issues. It will cover money, government securities, foreign exchange and related derivatives markets. The panel will bring together seven external members from banking, financial Bengaluru startup altM has raised $10.3 million funding in a Series A round led by Rainmatter by Zerodha and Mela Ventures. The round also saw participation from existing investors Omnivore, Theia Ventures, Aureolis Ventures and Spectrum Impact, along with VC Grid and strategic angel investors. The startup plans to deploy the fresh $10.3 million funding towards expanding its manufacturing capabilities, research and development (R&D), customer qualification programmes, and engineering and commercial teams. The funding will support its transition from pilot-scale production to commercial manufacturing.The latest investment brings together new and existing back-research, market infrastructure and the securities industry. It will be chaired by the RBI Deputy Governor in charge of the Financial Markets Regulation Department (FMRD).The external members include Ananth Narayan, former Whole Time Member of the Securities and Exchange Board of India (SEBI) and Professor of Practice at IIT Bombay. Other members are Shamsher Singh, Chairman of the Fixed Income Money Market and Derivatives Association of India (FIMMDA) and Deputy Managing Director of State Bank of India; Neeraj Gambhir, Executive Director of Axis Bank; and Shailendra Jhingan, Head of Treasury and Economic Research at ICICI Bank. Crude oil prices extended their decline on Thursday, with US crude falling 1.47% to $86.82 per barrel and Brent crude slipping 1.06% to $93.62. Both benchmarks recorded steep weekly losses as expectations of a possible end to the Iran conflict and a recovery in global oil supplies weighed on prices. Crude prices in the United States fell 14.49% in the week to the lowest price in two months, and in Europe, prices for Brent crude dropped 17.94%. The adjustment is based on a reassessment of fears of extended supply disruptions from the Middle East, and some improvement in Middle East exports. Both major crude oil benchmarks extended their losses on Thursday. US crude was trading at $86.82 per barrel, down 1.47% on the day. It had declined 14.49% over the past week, bringing prices towards a one-month low. Brent crude, the international benchmark, was trading at $93.62 per barrel, down 1.06%. Its weekly decline stood at 17.94%, taking prices to a two-month low. ers to support altM's next phase of growth. The company aims to strengthen its production infra-structure and accelerate the de-velopment and commercialisa-tion of specialty chemicals derived from agricultural residue. The funding will also help expand cus-tomer qualification programmes and build the technical and com-mercial teams required to support larger-scale operations.
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