Economic Times
100 articles in current feed
Semiconductor Index Rebounds as Investors Eye Alphabet and Tesla Earnings
After months of gains, major indexes wobbled with uneven trading in semiconductor and software stocks. The Philadelphia SE Semiconductor index ended higher after three days of losses that confirmed it was in a bear market last week. Investors prepared for second-quarter results from Alphabet and Tesla, focusing on AI investments' impact. Preliminary data showed the S&P 500 down, Nasdaq Composite fell, while Dow Jones rose slightly. High oil prices due to Yemen's threats added inflation concerns, with crude oil futures reaching their highest since June 11. Shares in Super Micro Computer rallied after securing over $60 billion in new orders. (Complete sentence.
Eternal reported a net profit of Rs 91 crore for Q1, down
Eternal reported a net profit of Rs 91 crore for Q1, down 47% sequentially but up from a loss in the same quarter last year. Revenue surged 182% YoY to Rs 20,211 crore. Food Delivery (Zomato) saw NOV grow over 20% YoY to Rs 10,769 crore; Blinkit's NOV grew 86% YoY to Rs 17,132 crore with an adjusted EBITDA of Rs 102 crore. Going-out (District) and Hyperpure also showed growth, while Bistro, Nugget incurred higher losses. Shares ended up 1%.
Eternal reported 54% year-on-year growth in B2C net order value to Rs
Eternal reported 54% year-on-year growth in B2C net order value to Rs 31,120 crore in Q1FY27. Adjusted revenue rose 173% to Rs 20,648 crore; Blinkit's adjusted EBITDA improved for the fifth straight quarter to 0.6% of NOV at Rs 102 crore. Food delivery NOV grew 20%, with margins improving to 5.6%. District and Hyperpure also showed strong growth but "Others" segment losses widened due to R&D investments. Eternal ended Q1 with a cash balance of Rs 18,288 crore.
RBI Intervenes as Rupee Hits Record Low, Net Forward Sales Reach $106.6B
In its monthly bulletin, the RBI reported purchasing $22.2 billion and selling $28.3 billion in May, with net outstanding forward dollar sales reaching a record $106.6 billion by end-May. The rupee hit a record low of 96.96 per dollar due to rising oil prices and global bond yields but was stabilized through RBI interventions and policy measures like tax cuts on foreign debt investments. Foreign inflows into bonds rose in June, showing a "revival of confidence" despite economic pressures from weak monsoon and high oil prices.
PRISM Soars in India: 1,573 Hotels Drive GBV to Rs 1,346 Crore
The PRISM company-serviced hotel network in India expanded from 75 storefronts in FY24 to 1,573 by December 31, 2025, under brands like Townhouse and Sunday. These hotels contributed 49.29% of India's Gross Booking Value (GBV) during the first nine months of FY26, with GBV reaching Rs 1,346 crore, up 65% from FY25. The growth is driven by factors like rising disposable incomes and improving infrastructure, shifting focus to quality and productivity over network expansion.
Indo-MIM IPO valued at Rs 3,811.21 crore opens July 23, 2026
The Indo-MIM IPO, valued at Rs 3,811.21 crore, opens on July 23, 2026, with a price band of Rs 461-485 per share. The grey market premium stands at Rs 178, suggesting a listing price around Rs 663. IPO proceeds will partly repay borrowings and fund corporate purposes. Shares are set to debut on July 30, 2026, on BSE and NSE.
BlueStone Jewellery Revenue Soars 48.8% to Rs 733 Crore in Q1 FY27
BlueStone Jewellery reported a 48.8% year-on-year rise in standalone revenue to Rs 733 crore for Q1 FY27, with same-store sales growth at 39%. EBITDA more than doubled to Rs 55 crore. The company added 12 stores, reaching 352 across 139 cities and maintained a Buy rating by Systematix with a target price of Rs 832. BlueStone attributed the strong performance to resilient consumer demand despite increased custom duty on gold.
Sterlite Technologies soars 400%, then falls 27% in six months
In 2026, Sterlite Technologies, backed by Vedanta (with a 0.98% stake), saw its stock surge 400%, boosting market capitalisation from Rs 4,000 crore to Rs 27,000 crore in six months. However, shares fell 27% from June highs of Rs 684. Analysts like Sachin Gupta and Virat Jagad suggest the correction is normal, with support at Rs 490-Rs 500. CLSA forecasts further upside to Rs 655 due to a major U.S. hyperscaler order, boosting Sterlite's position in AI data centres.
BPCL and HPCL report earnings as oil prices rise due to Middle East tensions
On Wednesday, Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) reported earnings amid rising oil prices due to Middle East tensions. Adani Green Energy and Adani Power, along with other firms like IndusInd Bank and Dr. Reddy's Laboratories, also announced Q1 results. Bandhan Bank shares fell 10% after cutting RoA guidance, while Bajaj Auto and TVS Motor Company saw gains of 3-4%. Eternal (Zomato and Blinkit parent) is expected to report steady growth in quick commerce and food delivery sectors.
New Jersey MVA Error Registers Noncitizens as Voters; Trump Pushes SAVE Act
Sherrill, New Jersey's Motor Vehicle Commission chair, announced a software error registered some noncitizens as voters; fewer than 400 cast ballots. The issue occurred under the previous administration and involved about 6,600 people. Trump used this to promote his SAVE America Act, which faces Senate opposition. Sherrill is investigating and replacing the vendor responsible for the error.
Vedanta Oil & Gas Faces $35M Demand from DGH for Four Blocks
Vedanta Oil & Gas received demand letters from the DGH for four blocks under OALP bidding rounds, seeking $35 million plus interest. Vedanta is pursuing legal remedies and requested referral to CEEE. Separately, ONGC filed a petition in Delhi High Court over an arbitral award of approximately $37 million against Vedanta Limited. CRISIL upgraded Vedanta Oil & Gas's long-term rating to AA+/Stable.
Despite a debut slightly below expectations, SBI Funds Management maintains a strong
Despite a debut slightly below expectations, SBI Funds Management maintains a strong market valuation of Rs 1.24 lakh crore. Unlisted shares had a grey market premium of 16-18%, but the listing gain was more moderate. Brokerages like Emkay Global Financial Services and Equirus Securities remain bullish, citing the company’s strong parentage, growth prospects, and India’s rising mutual fund penetration. Emkay initiated coverage with a ‘Buy’ recommendation and set a target price of Rs 750 per share, indicating a potential upside of nearly 31%. Equirus also gave a 'Long' rating with a March 2027 target price of Rs 675 per share, expecting the company to benefit from India’s financialisation trend.
Bandhan Bank profits soar 35%, but Motilal Oswal downgrades shares to ‘Neutral’
On Tuesday, Bandhan Bank reported a 35% year-on-year rise in net profit to Rs 502 crore for Q1 FY27, driven by a 41% decline in provisions. Operating profit fell nearly 19%, while NII increased 6%. Asset quality improved with the gross non-performing assets ratio dropping to 3.15%. Motilal Oswal downgraded Bandhan Bank's shares to ‘Neutral’, citing uncertain global macros and higher competitive intensity, slashing FY27 and FY28 earnings estimates by 14% and 6%, respectively.
Vedanta Shares Soar 24% Then Plunge 26%, Leaving Investors On Edge
Shares of Vedanta adjusted nearly 63% at the end of April, excluding several units in a mega demerger. The stock surged over 24%, hitting Rs 360 by May's end but then fell 26% to Rs 264.95 on Tuesday. Nifty Metal also declined. Vedanta’s rating was upgraded due to improved financials, while Hindustan Zinc reported record production. Analysts advise caution with potential further declines.
MedPlus profit plunges 21.7% despite 21.9% revenue growth
MedPlus reported a consolidated net profit of Rs 33 crore for Q1FY27, down 21.7% year-on-year from Rs 42 crore, despite a 21.9% revenue growth to Rs 1,880 crore. Gross margins declined due to lower private label pharma business contribution and higher franchisee sales share. Operating expenses surged, leading to a 11% decline in operating EBITDA. Nomura maintained its Buy rating on MedPlus, citing long-term growth potential despite weak quarterly performance.
E2E Networks revenue soars 334% to Rs 157 crore in just one quarter
E2E Networks, an AI-first cloud GPU platform, reported a revenue of Rs 157 crore for the quarter, marking a 334% increase from Rs 36 crore in the previous year. Margins surged to 75.2%, and EBITDA rose to Rs 118 crore. The company deployed its B200 cluster on the TIR platform, scaled GPU infrastructure to 5,100 GPUs, and acquired Sovcloud Technologies Limited. It aims to meet industry benchmarks for NCCL and MFU while expanding in Mumbai and Chennai as key AI centers. E2E shares have risen 125% in six months.
MSCI Asia Pacific Index Rises 0.8% on AI Investments, Nvidia News
The MSCI Asia Pacific Index climbed 0.8%, with the Kospi gaining over 5% due to AI investments. This followed a strong session for the Nasdaq 100 and semiconductor stocks, boosted by Nvidia’s chip delivery news and Intel's job cuts plans. Super Micro Computer Inc. surged after reporting growing order backlog, while Taiwan Semiconductor Manufacturing Co.’s ADRs rose 5.5% amid reported price hikes. The yen weakened past 163 per dollar, and crude oil prices climbed, raising inflation concerns. US Treasury yields reached two-month highs as gold and silver advanced. President Trump announced a future tariff on generic drugs. Investors await earnings from Alphabet Inc. and Tesla Inc., with high expectations for AI impact.
Marcellus Cuts Cash Holdings, Sees Scarce Opportunities Post Market Rebound
In a chat, Marcellus discussed reducing cash in its small-cap strategy from about 40% to 13% earlier in February-March. Post the market rebound, valuations are less compelling due to earnings cycle bottoming and West Asia tensions affecting oil prices. Opportunities for fresh capital deployment are scarce but rebalancing is possible given non-uniform price action. Quality stocks' valuation premiums have corrected meaningfully, making them resilient against macro challenges. The firm remains bullish on healthcare sectors like hospitals, diagnostics, pharmaceuticals, and APIs due to structural growth drivers despite less compelling valuations. Indian manufacturing exports benefit from a cheaper rupee and FTAs, offsetting IT sector risks posed by AI through competitive realignment.
SBI Funds soars 6.3% on NSE debut, CEO holds shares worth ₹128.9 crore
On Tuesday, SBI Funds listed on the NSE at ₹610.15, up 6.3% from its issue price of ₹574. CEO Devinder Pal Singh holds shares valued at ₹128.9 crore and ESOPs worth ₹31.65 crore. CIO - Equity Srinivasan Rama Iyer has a stake of ₹111 crore plus ESOPs worth ₹54.57 crore. Other executives also hold significant stakes, reflecting the industry's use of ESOPs as retention tools amid rapid mutual fund expansion and high asset valuations.
The RBI published the Foreign Exchange Management (Foreign Investment) Rules, 2026
The RBI published the Foreign Exchange Management (Foreign Investment) Rules, 2026 on Tuesday to replace the 2019 rules. The draft defines eligible investee entities and foreign-controlled entities (FCEs), retains FDI and FPI distinctions, permits investments through various means, sets pricing guidelines, and bars companies from overseas listings under certain conditions. The DPIIT will continue interpreting foreign investment policy provisions.
Foreign Investors Snap Up ₹15,560 Crore in Indian Shares Amid Easing Geopolitical Concerns
During July 1-15, Foreign Institutional Investors (FIIs) net bought shares worth ₹15,560 crore across sectors in India. Consumer services attracted the highest foreign buying, followed by metals and mining and healthcare. In contrast, automobiles, capital goods, and telecom saw outflows. IT turned from a seller to a moderate buyer of ₹60 crore after months of selling over ₹34,000 crore. Banks received flows worth ₹1,975 crore in the first half of July, reversing June's trend. This shift is attributed to easing geopolitical concerns and short covering ahead of earnings season.
Caliber Mining & Logistics IPO Overwhelmed by 146.64 Times Subscription
The Caliber Mining & Logistics IPO, open from July 17 to July 21, saw overwhelming demand with an overall subscription of 146.64 times. Shares are expected to list on the NSE and BSE on July 24, potentially gaining 17% based on a grey market premium of Rs 71 per share. Investors can check allotment status through KFin Technologies, NSE, or BSE platforms.
Semiconductor surge propels S&P 500 up 64 points, ignoring tariffs
Gains in semiconductor stocks, led by the Philadelphia SE Semiconductor Index's sharp rally, supported U.S. stock indexes on Monday. Lindsey Bell of 248 Ventures noted investors were buying into semiconductors ahead of earnings due to FOMO despite high valuations. The S&P 500 rose 64.04 points (0.86%), the Nasdaq gained 321.53 points (1.26%), and the Dow increased 384.46 points (0.74%). Investors largely ignored geopolitical tensions and tariffs, focusing on earnings from companies like Alphabet, Intel, Texas Instruments, 3M, Hasbro, Danaher, MSCI, and Genuine Parts.
Goldman Sachs Sees Q4 Brent at $80, $75 in 2024 Amid Middle East Tensions
Goldman Sachs expects Brent crude to average $80 per barrel in Q4 and $75 next year, assuming Middle East tensions ease. However, risks are "tilted to the upside" due to potential shipping disruptions through the Strait of Hormuz and Red Sea. Global energy markets face volatility amid U.S.-Iran conflict and Yemen's Houthi rebels threatening a naval blockade on Saudi Arabia. Goldman Sachs notes lower global inventories increase market vulnerability but weaker Chinese imports may limit price gains. Oil prices edged lower Tuesday as markets weighed renewed diplomatic efforts between the U.S. and Iran against continued military exchanges.
Bank's Net Profit Rises to Rs 502 Crore in June Quarter
In the quarter ending June, Partha Pratim Sengupta and Rajeev Mantri reported that the bank's net profit rose to Rs 502 crore from Rs 372 crore, with lower provisions at Rs 683 crore. Operating profit fell to Rs 1358 crore due to an 8% increase in total expenditure and a 90% drop in treasury earnings. Gross advances grew by 16%, while deposits rose 7%. The gross non-performing assets ratio decreased to 3.15%.
Sebi orders depositories to freeze promoter shares by August 1, 2026
In a circular, Sebi asked depositories to issue operational guidelines for implementing an ISIN-level freeze on promoter and promoter group holdings by August 1, 2026. The framework will cover tendering shares in buybacks through the tender offer route and invoking encumbrances created before the buyback period, while maintaining the freeze on invoked or released shares.
Anant Raj Limited, operating 28 MW of IT load in Manesar
Anant Raj Limited, operating 28 MW of IT load in Manesar and Panchkula, plans to expand its data center capacity to 307 MW by FY32 with USD 2.1 billion investment. Its board approved a restructuring into two businesses: real estate and infrastructure, and digital infrastructure through Ashok Cloud Pvt Limited, focusing on advanced data centers and cloud services. Shareholders will receive Ashok Cloud shares upon scheme effectiveness, subject to regulatory approvals.
ICICI Bank eyes $500 million bond sale, first in nearly a decade
ICICI Bank is close to raising at least $500 million through five-year dollar bonds via its GIFT City unit, marking the bank's first US dollar bond issuance in nearly a decade. The proceeds will support client financing needs and leverage up to nine times for clients, using RBI’s concessional swap facility that lowers hedging costs. ICICI Bank did not respond to comments. This fundraising is expected to be announced this week.
JPMorgan's Dimon Warns of Risks from Wars, Tensions, AI Spending
During an interview with Wilfred Frost, Jamie Dimon of JPMorgan expressed concerns over underpriced risks due to wars, US-China tensions, and AI spending. He noted the global economy's resilience but warned about potential shocks, especially from Middle East conflicts that could push oil prices up to $120 per barrel. Dimon would consider buying individual stocks if they were great investments but not the broader market or US Treasury bonds at current valuations. JPMorgan recently reported record earnings.
Investors Eye Global Opportunities: Alpha Wealth Summit 2.0 Draws 250 Attendees
A decade ago, building wealth focused on buying good businesses and staying invested. Today, investors consider opportunities across geographies, alternative assets, private markets, and strategic capital allocation. Alpha Wealth Summit 2.0, held earlier this year with over 250 attendees and 20 speakers, discussed long-term trends and investment strategies rather than short-term market moves. The summit will continue these conversations at its next event, emphasizing the importance of informed discussion in shaping wealth creation.
PNB Shares Soar to 3-Month High After 214% Profit Jump
Shares of PNB rose to Rs 113.38, the highest in nearly three months, after reporting a 214% YoY surge in Q1 FY27 net profit to Rs 5,253 crore and improved asset quality with gross NPAs declining to 2.78%. JM Financial upgraded its rating on PNB shares to ‘Add’ from ‘Reduce’, citing healthy results and improving core profitability. Motilal Oswal reiterated a 'Buy' call with a target price of Rs 135, noting controlled provisions and lower opex.
HDFC Bank Profits Soar to ₹19,060 Crore in Q1 FY27
HDFC Bank reported a net profit of Rs 19,060 crore for Q1 FY27, up from Rs 18,155 crore in the same period last year. Net interest income rose 7% to Rs 33,534 crore. Despite a slight miss on NII, lower opex and credit costs boosted profits. Analysts at Jefferies, Nomura, and Motilal Oswal maintained 'Buy' ratings with target prices of Rs 1,050, Rs 950, and Rs 1,050 respectively.
CMPDI nets 54% profit jump, declares Rs 1.05 interim dividend
CMPDI reported a 18% year-on-year increase in revenue to Rs 481.4 crore and a 54% jump in net profit to Rs 116.3 crore for Q1 FY27, with EBITDA rising 61.87% to Rs 168 crore. The board approved a first interim dividend of Rs 1.05 per share, payable by August 19, 2026, and fixed July 24, 2026, as the record date for eligibility.
SBI Funds Management lists at ₹610, falls short of grey market expectations
On July 26, SBI Funds Management listed on the BSE at Rs 610, a 6.27% premium to its IPO price of Rs 574, achieving a market capitalization of Rs 1.24 lakh crore. Despite robust investor demand and subscription rates, the listing fell short of grey market expectations. The IPO, which raised Rs 9,795 crore through an offer for sale by State Bank of India and Amundi, did not generate proceeds for SBI Funds Management. Analysts advised investors to hold or book profits based on their investment horizon.
Karur Vysya Bank Reports 36.15% Jump in Profit to ₹1,096 Crore
In the quarter ending June 30, 2026, Karur Vysya Bank reported a 36.15% YoY rise in pre-provision operating profit to Rs 1,096 crore and a net interest margin improvement to 4.34%. Gross non-performing assets were at 0.74%, up from 0.66% YoY. Total business grew by 15.94% to Rs 2.27 lakh crore. Ramesh Babu B, MD and CEO, highlighted the bank's consistent performance across growth, profitability, and asset quality.
Oil dips below $90, Sensex falls 59 points as broader markets rise
On Tuesday, Sensex dropped 59 points to 77,650 and Nifty 50 fell 22 points to 24,216. Despite this, broader markets edged higher. Shares of Bajaj Finserv, Axis Bank, HDFC Bank, and others led losses while UltraTech Cement, ICICI Bank, and Maruti Suzuki saw gains. Oil prices dipped below $90 per barrel amid Iran-US mediation efforts proposing a 10-day ceasefire. Analyst VK Vijayakumar noted that crude price trends will influence markets in the near term, with FPI selling being absorbed by DII buying.
UltraTech Cement Reports 17% Profit Jump, Plans Rs 1,800 Crore Wires Venture
On Monday, UltraTech Cement reported a 17% year-on-year increase in net profit to Rs 2,599 crore for Q1 FY27 and a 16% rise in revenue to Rs 24,648 crore. The company plans to enter the wires and cables business with an investment of Rs 1,800 crore by Q3 FY27. Nuvama and JM Financial maintained 'Buy' calls on UltraTech Cement shares, increasing target prices to Rs 15,209 and Rs 14,500 respectively, citing strong performance and market share gains.
Paytm Revenue Soars 28%, Citi and Goldman Sachs Raise Target Prices
One 97 Communications, the parent of Paytm, reported a 28% year-over-year revenue increase to Rs 2,448 crore in Q1. Profit before tax rose to Rs 247 crore from Rs 143 crore last year. Citi and Goldman Sachs raised their target prices on Paytm, citing improved performance and growth drivers, while CLSA maintained an Underperform rating. Paytm decided against its first bonus share issue, prioritizing business expansion and profitability instead.
Net profit soars 68.6% to Rs 468.84 crore, company reports blockbuster quarter
The company reported consolidated revenue of Rs 1,775.70 crore for the June 2026 quarter, a 12.2% year-on-year increase from Rs 1,583.16 crore and a 28.1% sequential rise from Rs 1,386.43 crore in March. Net profit surged 68.6% YoY to Rs 468.84 crore after posting a loss of Rs 13.37 crore in the previous quarter. Stock performance was mixed, with long-term gains but recent declines. Institutional investors increased their stakes; FIIs raised theirs to 6.75%, and mutual funds to 0.48%. The company's market capitalisation is Rs 11,582 crore.
Company Plans ₹500 crore Share Issuance and Sale of 6.8 crore Shares
The article discusses a share issuance plan consisting of a fresh issue of ₹500 crore and an offer for sale of 6.8 crore shares. It mentions tracking market news, stock tips, and expert advice on ETMarkets, including trending stocks like SBI, Axis Bank, HDFC Bank, Infosys, Wipro, and NTPC.
13 Nifty500 stocks surge above 200-day mark, signaling market uptrend
On July 20, 2026, stockedge.com reported that 13 stocks in the Nifty500 closed above their 200-day moving average (DMA), indicating an overall uptrend. This technical scan data helps traders assess stock trends based on the 200-day DMA as a key indicator.
SOMPO eyes 51% control in Universal SOMPO, aiming for India insurance dominance
Multiple sources indicate that SOMPO is in early-stage discussions to gain majority control of the joint venture Universal SOMPO, currently owned by Indian Bank (28.52%), Indian Overseas Bank (18.06%), Dabur Investments (12.81%), and Karnataka Bank (6%). SOMPO aims to cross the 51% ownership threshold as global insurers reassess their India strategy post-FDI liberalization, which now allows full overseas ownership in Indian insurance businesses. Universal SOMPO has seen significant growth, expanding its gross written premium from ₹2,500 crore six years ago to over ₹6,000 crore while maintaining profitability and paying dividends for the last four years. The insurer requires additional capital for future growth and technological investment. Increasing SOMPO's ownership would provide greater operational flexibility and strengthen its position in India's fast-growing insurance market.
SBI Funds Soar: Shares Trade at ₹104, Up 18.1% from IPO Price
As of Monday evening, SBI Funds Management shares were trading at a grey market premium (GMP) of ₹104 apiece, implying an 18.1% listing gain over the IPO price of ₹574. Analysts like Geetanjali Kedia from SPTulsian Investment Advisers and Vaqarjaved Khan from Angel One suggest that investors with short-term horizons may book profits while long-term investors might hold for up to two years due to strong fundamentals. The company's market capitalization is ₹1.16 lakh crore, making it the fourth-largest AMC in India after ICICI Prudential and HDFC Asset Management. SBI owns 61.9% of SBI Funds Management, while Amundi holds 36.4%.
Missing best days cuts Nifty 50, Midcap 150, Smallcap 250 returns: study
The study showed that those invested in the Nifty 50, Nifty Midcap 150, and Nifty Smallcap 250 for the entire period earned 13.6%, 17.18%, and 15.8% respectively, but missing the best 50 trading days reduced returns to 0.89%, 5.65%, and 4.87%. Missing the best 30 and 10 trading days improved returns to 4.59%, 9.16%, 8.22% and 9.67%, 13.58%, 12.44% respectively, highlighting market timing risks. "Investors who want to time markets need to make two correct decisions: deciding when to get in and subsequently when to exit," says Anup Bhaiya, MD and CEO of Money Honey Financial Services.
Monsoon, fuel costs hit EBITDA margin; cement prices improve in East, South
The September quarter will be challenging for volume growth due to the monsoon season and higher fuel costs linked to the West Asia conflict, leading to a contraction in EBITDA margin. During June, higher fuel and packaging costs reduced EBITDA margin by 110 basis points sequentially to 20.9%. Cement prices improved in the East and South regions but are expected to remain stable during monsoon. The ₹1,800-crore cables and wires project is progressing as planned with about ₹888 crore invested so far.
Second-Quarter Earnings Season Picks Up With Mixed Market Performance
The second-quarter earnings season is accelerating, with reports from Alphabet, Tesla, and Intel providing insights into corporate health. Investors are cautious ahead of updates from tech, energy, and consumer firms amid geopolitical tensions; Yemen’s Houthis announced a naval blockade on Saudi Arabia, while a senior Iranian official proposed a 10-day ceasefire to de-escalate tensions. Market performance was mixed: the S&P 500 fell 0.18%, Nasdaq edged down 0.04%, and Dow declined 0.57%. Positive earnings from chipmakers could restore sector confidence, with Alphabet gaining after reports of a new server chip development.
Coca-Cola plans 2027 IPO for Indian unit, eyeing higher valuations in equity markets
In June, Coca-Cola announced plans to list its Indian bottling unit, Hindustan Coca-Cola Holdings, in 2027 and explore selling part of its stake. JPMorgan and Citi were appointed as bankers for the IPO following pitches by other banks in London earlier this month. The company holds a 60% stake in Hindustan Coca-Cola Holdings, which operates across India and recorded $1.32 billion in revenue in 2023. This move aligns with multinational companies monetizing investments through Indian equity markets, where valuations are higher than domestic markets.
HDFC Bank Reports 5% Rise in Q1 FY27 Net Profit to Rs 19,060 Crore
On Saturday, HDFC Bank reported a 5% year-on-year rise in net profit to Rs 19,060 crore for Q1 FY27, with its market capitalization falling below Rs 11.93 lakh crore due to an intraday low of Rs 774.55 on the NSE. Net interest income rose 7% YoY to Rs 33,534 crore, while gross NPAs fell more than 3% to Rs 35,846 crore but net NPAs increased slightly to Rs 12,357 crore. Jefferies, Nomura, Anand Rathi, and Motilal Oswal maintained 'Buy' ratings with target prices ranging from Rs 900 to Rs 2,050, indicating upside potential of up to 28%.
Goldman Sachs Predicts 7% Revenue Growth for Indian Auto Parts Industry in FY27E
Goldman Sachs initiated coverage on several Indian auto parts manufacturers, including Sansera Engineering with a Buy rating and Craftsman Automation with a target price of Rs 11,600. It expects the industry to post revenue growth of 7% in FY27E, 12% in FY28E, and 10% in FY29E, driven by precision machining and higher margins from new sectors like aerospace and semiconductors. Bharat Forge received a Neutral rating due to already reflected stock price benefits from expected growth.
Groww's Net Profit Soars 94.44%, Brokerages Raise Targets to Rs 250
Groww reported a 94.44% year-on-year jump in Q1FY27 net profit to Rs 735 crore and a 66% increase in revenue to Rs 1,504 crore. Brokerages like Jefferies, JM Financial, and Motilal Oswal maintained positive views, raising price targets to around Rs 250, citing improved earnings and operational efficiency. Institutional ownership is rising, with the stock more than doubling investor wealth since its listing in November 2025.
PC Jeweller shares rise to Rs 10.27 after board approves Rs 1,000 crore QIP
On Monday, PC Jeweller shares rose to Rs 10.27 after crashing more than 6% on Friday following the board's approval to raise up to Rs 1,000 crore through a Qualified Institutional Placement (QIP). HRTI Private net sold over 1.32 crore shares on Friday. The company aims for debt-free status by Q2 FY27 and reported a 58% increase in Q4 net profit.
BHEL Reports Rs 377 Crore Profit, Shares Hit New High
On Thursday, BHEL reported a consolidated net profit of nearly Rs 377 crore for the April-June quarter, up from a loss of Rs 455.5 crore in Q1 FY26. Revenue surged over 40% to Rs 7,697.72 crore. Operating and net profit margins improved significantly. Shares hit a new high on Friday but saw some profit booking today. ICICI Securities and JM Financial maintained 'Buy' ratings with upside potential.
Tips Music Reports 93% YoY Net Profit Rise, Declares Rs 166.18 Crore Dividend
Founded in 1988, Tips Music reported a 32% YoY increase to Rs 103.9 crore in Q4 FY26 revenue and a 93% YoY rise to Rs 59 crore in net profit. The company declared a cumulative dividend of Rs 13 per share, totaling Rs 166.18 crore. Its YouTube subscriber base grew to 153.1 million, with notable song releases like Tu Jaane Hai Kahan.
Kotak Mahindra Bank Net Worth Surges 14%, Fresh Slippages Plunge 27%
Kotak Mahindra Bank reported a 9% YoY increase in net interest income to Rs 7,928 crore and a more than 14% YoY rise in net worth to Rs 1.4 lakh crore. Net NPAs declined 11% YoY but rose 7.5% QoQ to Rs 1,358 crore. Fresh slippages dropped 27% YoY to Rs 1,321 crore. Motilal Oswal, JM Financial, and Dolat Capital maintained positive ratings on the bank with target prices of Rs 470, Rs 415, and Rs 455 respectively, citing steady asset quality and controlled credit costs despite sluggish loan growth.
PNB Q1 Net Interest Income Rises 2%, JM Financial Upgrades Rating to 'Add'
On Saturday, PNB released Q1 FY27 results showing a 2% YoY rise in net interest income to Rs 10,798 crore and a 214% YoY increase in PAT. Deposits grew by 8%, advances by 13%, and asset quality improved with GNPA declining to 2.78%. JM Financial upgraded PNB's rating to 'Add' from 'Reduce', while Motilal Oswal reiterated a 'Buy' call, both citing strong earnings and improving asset quality.
Natco Gets FDA Tentative Approval for Olaparib Tablets
Natco Pharma announced the U.S. FDA granted tentative approval for Olaparib Tablets in 100 mg and 150 mg strengths, bioequivalent to AstraZeneca's Lynparza, with Alembic Pharmaceuticals Ltd. handling commercialization. The Para IV patent litigation remains unresolved. Natco also acquired an additional stake in Adcock Ingram, increasing its share to 49%. Olaparib tablets generated $1.4 billion in sales for the year ending March 2026.
Carnelian Capital to Launch ₹100-300 Crore Fund for Underserved Companies
Carnelian Capital, which manages about ₹18,300 crore in assets, plans to launch a fund focusing on companies seeking ₹100-300 crore of growth capital within 12-18 months. Founder Vikas Khemani noted this segment is underserved due to larger private equity preferences and shifting IPO market dynamics. The fund will target profitable businesses with proven models, aiming for gross returns over 30% and investing ₹50-150 crore in each of about 15 deals across sectors like manufacturing and healthcare. Carnelian Capital itself will invest ₹100 crore alongside investors.
Analysts Recommend Buying Bank Nifty Futures, Hedged Strategies
Nagaraj Shetti, HDFC Securities analyst, recommends buying Bank Nifty July Futures around 58,591-58,500 with a target of 59,600 by July 28 expiry and a stop loss at 58,000. Mehul Kothari from Anand Rathi suggests hedged short strategy for Nifty Futures around 24,350 with a call option hedge. Sacchitanand Uttetkar from Tradebulls Securities advises deploying Bull Call Spread if Nifty sustains above 24,350. Top stock picks include Bajaj Finance, Sona BLW Precision Forgings, Epack Durable, Endurance Technologies, ABB India, and State Bank of India with specific buy prices, targets, stop losses, and timeframes provided by each analyst.
Financial firms drive profit surge as others lag: 164 companies see 14.5% net gain
For a sample of 164 companies, revenue grew by 17.5% and net profit by 14.5% year-on-year in the June quarter, driven largely by banks and finance companies whose share in total net profit rose to 56.9% from 51.3%. Excluding lenders, operating margin fell to 14.7%, and net profit growth shrank to just 1.2%. Reliance Industries Ltd's (RIL) net profit dropped by 22.4% due to an exceptional gain in the previous year from selling its stake in Asian Paints. Overall, despite these factors, aggregate net profit showed double-digit growth, with financials, metals, and capital goods companies leading the trend.
HDFC Bank Profits Soar to Rs 19,060 Crore, But Net Interest Margin Slumps
HDFC Bank reported a standalone net profit of Rs 19,060 crore for Q1 FY27, up from Rs 18,155 crore in the same period last year. Net interest income rose 7% YoY to Rs 33,534 crore. However, net interest margin contracted by 12 basis points QoQ to 3.26%. Loan growth was driven by SME and corporate segments, while retail lending lagged. Gross NPAs declined more than 3% YoY to Rs 35,846 crore, but net NPAs edged up slightly. Provisions dropped sharply by 79% YoY to Rs 3,060 crore. Motilal Oswal reiterated a Buy rating with a target price of Rs 2,050, while JM Financial maintained an Add rating with a revised target of Rs 900.
ICICI Bank Reports 15.9% YoY Rise in Net Profit to Rs 14,805 crore
ICICI Bank reported a 15.9% year-on-year rise in standalone net profit to Rs 14,805 crore for the June quarter, with net interest income increasing by 12.7%. Key metrics like advances grew 19.6%, and asset quality improved, with gross NPA ratio declining to 1.38%. Bernstein, Motilal Oswal, JM Financial, and Centrum upgraded the bank's rating, citing strong performance and positive outlook.
J.P. Morgan Aims for Top Spot, Sees India Thriving Despite Oil Price Risks
Foley, from J.P. Morgan, stated that despite foreign outflows and valuation concerns, India's long-term investment case remains strong due to its 7% GDP growth and deepening capital markets. J.P. Morgan aims to be number one in Global Investment Banking in India by growing its local team. Oil prices pose a risk but India is better equipped to handle volatility compared to previous cycles. Investors are optimistic about large IPOs amid global uncertainty, with nearly $20 billion raised this year. (Complete sentence.
Nifty Gains 127.40 Points, Faces Resistance at 24,500
The Nifty oscillated between 24,000.20 and 24,367.30, ending the week with a gain of 127.40 points (+0.53%). India VIX rose to 13.15, indicating modest volatility. The Nifty is expected to face resistance at 24,500 and support at 24,000, with continued recovery but potential profit-taking near key levels. (Complete sentence.
Smallcaps Shine as Mutual Funds Pour Rs 7,286 Crore into Acme Solar and Others
In June, mutual funds bought Acme Solar Holdings (Rs 2,539 crore), Craftsman Automation (Rs 1,352 crore), Pine Labs (Rs 1,015 crore), Sterlite Technologies (Rs 733 crore), and RBL Bank (Rs 647 crore). These were the top five smallcap stocks attracting inflows in a market where large and midcaps saw outflows.
SBI Mutual Fund leads with Rs 14,192 crore surge in June
Around six asset management companies (AMCs) saw their Assets Under Management (AUMs) increase by Rs 7,000 crore in June. SBI Mutual Fund led with a Rs 14,192 crore rise to Rs 12.94 lakh crore. Aditya Birla Sun Life Mutual Fund, HDFC Mutual Fund, Invesco Mutual Fund, Nippon India Mutual Fund, and HSBC Mutual Fund also saw increases ranging from Rs 7,108 crore to Rs 11,545 crore.
Bharti Airtel, Hero MotoCorp, and other companies have set record dates
Bharti Airtel, Hero MotoCorp, and other companies have set record dates this week for corporate actions like stock splits, bonus issues, and dividends. Investors must hold shares in demat accounts on these dates to be eligible. Notable payouts include Hawkins Cookers with Rs 140 per share, ICRA Ltd with Rs 70 final dividend plus Rs 35 special dividend, and Abbott India with a dual payout of Rs 525 final dividend plus Rs 131 special dividend. The tentative list may expand as more companies announce record dates.
Mutual funds exit nearly 25 stocks in June: Offload shares worth Rs 101.22 crore
Mutual funds made a complete exit from nearly 25 stocks in June, according to data released by Prime Database. They offloaded 8.92 lakh shares of Rossell Techsys, worth Rs 94.34 crore; 4.57 lakh shares of wim plast, valued at Rs 15.29 crore; 2.25 lakh shares of Paramount Communications, with a market value of Rs 1.48 crore; 4,561 shares of GOCL Corporation worth Rs 0.16 crore; and 161 shares of Veranda Learning Solutions, valued at Rs 0.0038 crore.
Around five new mutual fund schemes will open for subscription next week
Around five new mutual fund schemes will open for subscription next week, including two ETFs and three FoFs from HDFC Mutual Fund, ICICI Prudential, SBI, and Axis Flexi Cap Fund. HDFC launches are the Nifty Metal ETF and FoF (July 20–24 and July 20–August 3 respectively), ICICI's is the BSE Insurance ETF (July 20–28), SBI offers the Nifty Midcap 150 Momentum 50 ETF FoF (July 22–August 4), and Axis Flexi Cap Fund AlphaGrep opens on July 22 and closes August 4. Minimum investments range from Rs 1,000 to Rs 5,000 depending on the scheme.
Mutual funds saw the highest net selling in Patanjali Foods
Mutual funds saw the highest net selling in Patanjali Foods with a value change of Rs 5.7 billion and 51.1% monthly change, followed by ICICI Prudential AMC, which had a value change of Rs 70.5 billion and 16.8% monthly change. Other stocks included Indian Renewable Energy Development Agency (Rs 0.5 billion), NMDC (Rs 46.6 billion), and Oil India (Rs 54.3 billion) also experienced significant selling in June.
TCS Adds ₹72,072.3 Crore to Valuation as Sensex Climbs 582 Points
Last week, the BSE Sensex climbed 582.06 points (0.75%) and the NSE Nifty rose by 127.4 points (0.52%), supported by IT sector earnings and financial stocks despite geopolitical tensions. TCS gained nearly 10%, adding Rs 72,072.3 crore to its market valuation. Reliance Industries, ICICI Bank, State Bank of India, and Bajaj Finance also saw gains, while HDFC Bank, Bharti Airtel, LIC, Larsen & Toubro, and Hindustan Unilever experienced declines in valuation. Reliance Industries remained the most valued firm.
The Sensex surged 964 points to close at 78,151 and Nifty 50
The Sensex surged 964 points to close at 78,151 and Nifty 50 gained 262 points to end at 24,334, despite broader market weakness. Sudeep Shah, VP and Head of Technical & Derivatives Research at SBI Securities, noted the indecision in charts as Q1 earnings approach. Key banks' earnings on Monday could break Nifty's consolidation; Bank Nifty is poised for a breakout with support around 57,600-57,500.
Lohia Corp sells 2.59 crore shares, promoters cash out as company profits soar 64%
On Friday, Lohia Corp, a Kanpur-based machinery manufacturer, filed its Draft Red Herring Prospectus for an offer for sale (OFS) of over 2.59 crore shares by promoters and other shareholders. The IPO will open for anchor investors on July 22, with none of the proceeds going to the company. Promoters like Raj Kumar Lohia and others are selling shares. Equirus Capital and Motilal Oswal Investment Advisory manage the issue, set to list on BSE and NSE. The company reported a net profit of Rs 193 crore for FY26, marking a 64% YoY rise from Rs 118 crore in FY25.
Herman Sörgel Proposes Atlantropa Plan 1927
Herman Sörgel, an architect born in 1885, proposed the Atlantropa plan around 1927 to address Europe's post-World War I issues by building dams across the Mediterranean Sea. The centerpiece was a dam at Gibraltar that would lower sea levels and create new land for farming while generating hydroelectric power. Sörgel promoted this vision until his death in 1952, but it never materialized due to technological limitations and political opposition. Atlantropa is now seen as an early blueprint for European unification and a cautionary environmental tale.
IDBI Bank Reports 10.1% YoY Jump in Net Interest Income to Rs 3,486 Crore
In Q1 FY27, IDBI Bank reported a 10.1% YoY increase in net interest income to Rs 3,486 crore and improved asset quality with a net NPA ratio of 0.16%. Total deposits grew by 10% YoY to Rs 3.26 lakh crore, while net advances rose 22% YoY to Rs 2.59 lakh crore. The bank's share price gained 2% on Friday but is down over 16% year-to-date.
In Q1 FY27, RBL Bank reported a 12% YoY increase in net
In Q1 FY27, RBL Bank reported a 12% YoY increase in net interest income to Rs 1,654 crore but saw provisions and contingencies surge 35% to Rs 599 crore. Last month, Emirates NBD Bank completed its acquisition of a 60% stake in RBL Bank, expanding the bank's global reach. Managing Director & CEO R. Subramaniakumar highlighted opportunities in corporate banking, transaction banking, and trade finance due to ENBD’s network. Despite this, RBL Bank shares fell more than 3% over one week but are up 17% year-to-date with a market cap of nearly Rs 56,910 crore.
Bitcoin Surges 1.77%, Ethereum Rises 0.93% as Markets Cautiously Welcome Softer Inflation Data
Over the past 24 hours, Bitcoin gained 1.77% and briefly dropped to $62.5K due to a risk-off sentiment driven by AI-driven selloffs and geopolitical tensions; Ethereum rose 0.93% to trade at $1,843. Major altcoins like BNB and XRP saw gains up to 4.81%, while some fell up to 10.59%. Despite a volatile week, softer U.S. inflation data eased concerns over interest rate hikes, but markets remain cautious awaiting further regulatory clarity.
Fred Kelly argues successful investing depends on understanding crowd psychology
In his book "Why You Win or Lose: The Psychology of Speculation", Fred Kelly argued that successful investing depends on understanding crowd psychology and resisting emotional impulses. He noted markets are driven by human behavior, not just fundamentals, leading investors to buy at tops and sell at bottoms due to vanity, greed, hope, and blind logic. Kelly advised patience over excitement, emphasizing the importance of independent thinking and discipline for long-term success.
Midcaps Shine: Oracle Financial Services Up 52.91%, Solar Industries 50.6% YTD
After a sharp correction earlier this year, the outlook for midcap and smallcap stocks is becoming more positive. While largecaps remain the portfolio anchor due to better valuations, select midcap stocks like Oracle Financial Services (52.91% YTD gain), Solar Industries (50.6% YTD gain), and others are showing improved earnings breadth and return on equity. This shift is supported by reflation.
Seven Mutual Funds Cut Holdings in Smallcap Stocks in June
In June, HDFC Mutual Fund, SBI Mutual Fund, Kotak Mutual Fund, Axis Mutual Fund, Nippon India Mutual Fund, Quant Mutual Fund, and ICICI Prudential Mutual Fund each reduced their holdings in three smallcap stocks to manage portfolios and generate returns. HDFC trimmed stakes in Birlasoft, Gulf Oil Lubricants, and Bajaj Consumer; SBI in AAVAS Financiers, India Cements, and Carborundum Universal; Kotak in Happy Forgings, K E C International, and Acutaas Chemical; Axis in Jyoti CNC Automation, Neogen Chemicals, and JM Financial; Nippon India in Craftsman Auto, Bayer Crop Sciences, and Chalet Hotels; Quant in Viyash Scientific, NBCC, and Gland Pharma; ICICI Prudential in Kalpataru Projects, International Ge, and Star Health Insurance.
Midcaps Lead Inflows in Chemicals, IT, Insurance, Consumer Discretionary, Logistics Sectors
According to a report by Dolat Capital, midcaps led inflows in Chemicals, Consumer Discretionary, IT, Insurance, and logistics sectors. In June, mutual funds bought JSW Infrastructure (Rs 3,603 crore), Meesho (Rs 2,151 crore), NHPC (Rs 1,749 crore), Lenskart (Rs 1,555 crore), and Ajanta Pharma (Rs 1,039 crore).
HDFC Mutual Fund Adjusts Holdings in Top Banks and Reliance Industries
As of June 2026, HDFC Mutual Fund, the third largest fund house by assets under management (AUM) at Rs 9.63 lakh crore, had its highest stock holdings in ICICI Bank (5.9%), HDFC Bank (5.4%), and Axis Bank (3.4%). The fund sold shares of these banks but increased their weights except for Axis Bank. It also held significant positions in Reliance Industries (2.9%, -0.1% weight), State Bank of India (SBI, 2.7%, +0.1% weight), Bharti Airtel (2.6%, -0.1% weight), Kotak Mahindra Bank (2.3%, -0.1% weight), and L&T (2%, -0.1% weight). Additionally, it increased its position in Eternal (+0.1%) while reducing Maruti Suzuki's weight with no change overall.
Eight equity mutual funds see over Rs 220 crore outflows in June
In June, eight equity mutual funds experienced outflows totaling over Rs 220 crore. HDFC Arbitrage Fund saw the highest outflow of Rs 1,312 crore, reducing its AUM to Rs 23,771 crore. Tech sector funds like ICICI Pru Technology Fund, Tata Digital India Fund, and Aditya Birla SL Digital India Fund also faced significant outflows ranging from Rs 463 crore to Rs 811 crore. International funds such as Axis Greater China Equity FoF and Motilal Oswal Nasdaq 100 FOF each saw an outflow of Rs 316 crore, while ICICI Prudential Mutual Fund's ICICI Pru Equity Savings Fund and ICICI Pru Energy Opportunities Fund had outflows of Rs 229 crore and Rs 233 crore respectively.
FIIs and retail investors double-team 12 stocks, driving gains up to 135%
ETMarkets analysis of June 2026 quarter data found 12 stocks with over Rs 3,000 crore market cap where both Foreign Institutional Investors (FIIs) and retail investors increased stakes, delivering returns between 75% to 135%. Stocks like KSH International surged 138%, while others like Cupid gained 135%, reflecting aligned investor sentiment.
Tech stocks plunge 3.27% as STOXX 600 barely moves despite U.S.-Iran tensions
The STOXX 600 fell 0.34% to 641.53 points, largely unchanged for the week, as oil prices rose due to Middle East conflict and strong earnings failed to boost sentiment. Tech stocks dropped 3.27%, despite ASML raising sales forecasts. The Nasdaq declined 0.98%, while Taiwanese equities fell 6.47%. Utilities were top gainers, rising 1.55%. U.S. strikes and Iranian retaliation added to market uncertainty. (Complete sentence.
Gold Plummets 25% as U.S. Dollar Rises, Interest Rates Soar
The U.S. dollar rose, making gold more expensive for overseas buyers and pushing bullion prices down about 25% since late February due to war-driven inflation fears and higher interest rates. Chris Gaffney of EverBank noted that while gold is a hedge against inflation, rising global interest rates typically depress its value. The U.S. escalated attacks on Iran, leading Tehran to retaliate with strikes across the Middle East, boosting Brent crude oil prices by around 16% for the week. Traders see about a 58% chance of a September rate hike, influenced by Fed Vice Chair Philip Jefferson's hawkish stance. Despite geopolitical tensions, gold's low portfolio share may attract private investors seeking diversification beyond central banks. Spot silver rose 1%, platinum fell 1.4%, and palladium was steady. All three metals were headed for weekly losses.
Oil Soars 16% as U.S.-Iran Tensions Spur Concerns Over Gulf Shipments
On Friday, Brent crude futures settled at $88.10 a barrel and U.S. West Texas Intermediate futures rose to $82.49, both reaching their highest since mid-June. The week saw gains of about 16% for both benchmarks. Escalating tensions between the U.S. and Iran, including strikes on infrastructure in Iran and its neighbors, drove oil prices higher amid concerns over tanker safety and reduced oil flows through the Persian Gulf. Shipments from Saudi Arabia's Yanbu port have increased to around 4 million barrels per day due to rerouting to avoid conflict zones.
Global experts discuss AI in investing at LAQSA conference in Gurugram
On July 17, the LAQSA conference was held at Taj City Centre in Gurugram, featuring global experts discussing quantitative investing trends. Key topics included Agentic AI applications and Specialised Investment Funds (SIFs). Speakers like Prof. Chetan Ghate, Sunil Ramrakhiani, and Rishi Kohli addressed portfolio management, regulatory outlooks, and macroeconomic challenges. The event highlighted India's growing systematic investment ecosystem.
Helios Mid Cap Fund Adds Billionbrains, Exits Hero MotoCorp
In June, the Helios Mid Cap Fund added shares of companies like Billionbrains Garage Ventures and Hindustan Petroleum Corporation while exiting stocks such as Hero MotoCorp and PB Fintech. It also trimmed its exposure to Black Box. The fund's portfolio was spread across 23 sectors with a finance allocation of around 21.70%, maintaining an AUM of Rs 1,793 crore and delivering a CAGR of 25.75% since inception.
Copper consumption soars to 28.2 million tonnes as supply shortages loom
The sharp rise in copper prices reflects growing concerns over future supply shortages and expanding demand, driven by its critical role in renewable energy, electric vehicles (EVs), power networks, electronics, and advanced technologies. Global refined copper consumption reached about 28.2 million tonnes in 2025, with rapid urbanization and digitalisation supporting robust growth. However, supply struggles to keep pace due to concentrated production, declining ore grades, operational challenges, geopolitical risks, and long development timelines. Recycling helps but is insufficient to meet demand. Copper's strategic importance ensures its central role in economic development for the coming decade.
Chip fatigue drives steepest semiconductor selloff in over a year
Semiconductor shares led a broader market selloff on July 28, with the Philadelphia SE Semiconductor Index experiencing its steepest weekly loss in over a year. The S&P 500, Nasdaq Composite, and Dow Jones Industrial Average closed lower, while energy stocks gained due to rising crude prices. Ryan Detrick of Carson Group noted chip fatigue amid concerns about AI spending slowdowns. Netflix, Uber Technologies, and Intuitive Surgical saw declines following earnings reports or forecasts. Economic data showed increased consumer sentiment but dips in housing starts and building permits.
Reliance Promoters Buy ₹8,500-9,000 Crore Shares Amid Missed Profits, Eroding Stock Value
According to a PTI report, Reliance promoters increased their shareholding by purchasing shares worth Rs 8,500-9,000 crore within Sebi regulations. This move comes as Reliance faces challenges including missed profit estimates and retail margin pressures. The purchases are seen as a sign of confidence in the company's future prospects despite a difficult year for shareholders, with stock value eroding by about Rs 3.53 lakh crore.
Tata Technologies Profit Rises to Rs 170.28 crore in Quarter
Tata Technologies Ltd reported a consolidated profit after tax (PAT) of Rs 170.28 crore for the quarter, up from Rs 143.18 crore in the previous fiscal year, with revenue rising to Rs 1,664.63 crore from Rs 1,244.29 crore. Despite higher expenses at Rs 1,459.38 crore, CEO Warren Harris highlighted robust demand and secured a USD 100 million partnership with Tenneco and a full vehicle engineering programme from a Japanese OEM.
AI fraudsters use voice cloning to dupe firms, Sebi warns
The Indian Cyber Crime Coordination Centre (I4C) flagged a rise in CEO/MD impersonation fraud targeting organizations through email, WhatsApp, and other platforms. According to Sebi, fraudsters use AI tools like voice cloning and deepfake videos, send malicious ZIP files, and alter contact lists to deceive employees into transferring funds urgently. Sebi advised verifying requests directly with senior officials and urged entities to log out of inactive sessions and report incidents through the national cybercrime helpline 1930 or Cyber Crime portal.
Mutual fund investors get new SWP, STP standing instructions starting January 31, 2027
According to a circular, mutual fund investors can now create standing instructions for Systematic Withdrawal Plan (SWP) and Systematic Transfer Plan (STP). In Phase I, starting January 31, 2027, the facility will allow redemption of fixed units at specified frequencies. Phase II, by April 30, 2027, will extend to fixed amounts. Depositories are instructed to publish a standard framework and make necessary amendments by October 31, 2026. This circular takes effect immediately.
MakeMyTrip, headquartered in Gurugram, plans to sell equity shares in MakeMyTrip India
MakeMyTrip, headquartered in Gurugram, plans to sell equity shares in MakeMyTrip India through an IPO, as disclosed in a Nasdaq filing. Proceeds will strengthen MakeMyTrip’s cash position for growth and strategic initiatives. The company highlights strong travel demand driven by the growing middle class and digital adoption. With over 87 million lifetime transacted retail customers and extensive market presence, MakeMyTrip aims to capitalize on India's post-pandemic travel recovery.
Banks Soar: Kotak, HDFC Gain as Nifty Bank Index Rises Over 500 Points
On July 18, Kotak Mahindra Bank, HDFC Bank, Axis Bank, ICICI Bank, and Yes Bank announced their April-June quarter results. Shares of Kotak Mahindra Bank rose nearly 3%, while HDFC Bank and ICICI Bank gained over 1%. Nomura highlighted modest core-PPOP growth, with controlled opex but muted PAT due to higher credit costs. The Nifty Bank index climbed more than 500 points to 58,095.
NSE Faces 26% Price Cut Forecast as Dolat Capital Slams Regulatory Headwinds
Dolat Capital Market Pvt., a local brokerage, initiated coverage on India’s largest stock exchange with a bearish call, citing tighter regulations that would reduce trading volumes and market share. It set a target price of 1,550 rupees ($16), a 26% discount from the current unlisted price of 2,085 rupees, predicting profit declines due to regulatory changes in derivatives markets. The report highlights NSE’s high valuations despite lagging growth compared to global peers and forecasts options trading turnover to decline by about 4% annually until fiscal 2029. Shares are down 3% over the past year. (Disclaimer: Recommendations do not represent ET's views.
Polycab reports 39% revenue jump to Rs 8,210 crore in Q1 FY27
On Thursday, Polycab reported a 39% YoY rise in consolidated revenue to Rs 8,210 crore for Q1 FY27, driven by robust growth in its Wires & Cables (W&C) and Fast-Moving Electrical Goods (FMEG) segments. EBITDA rose 32% to Rs 1,136 crore, with FMEG revenue growing 71% YoY and W&C business up 39%. The company paid a final dividend of Rs 47 per share after AGM approval on June 30, 2026.
Groww Revenue Rises 66% to Rs 1,504 Crore in Q1 FY27
Groww's revenue from operations rose 66% to Rs 1,504 crore in Q1 FY27, with net profit growing by 7% to Rs 735 crore. EBITDA increased 101% to Rs 971 crore year-on-year but only 3% sequentially. Jefferies, JM Financial, and Motilal Oswal all upgraded their ratings on Groww, raising target prices to Rs 250 each, citing strong growth visibility and improved operating leverage.
Relaxo Footwears Shares Surge 14% to Rs 417 on NSE
On Friday, Relaxo Footwears shares surged 14%, reaching Rs 417 apiece on the NSE. This rally lifted market capitalization by nearly Rs 1,255 crore to Rs 10,390 crore. The stock had previously declined over 55% from a September high of Rs 526 to a March low of Rs 236.50 before recovering 76%. Analyst Sudeep Shah noted strong buying interest and positive momentum indicators suggesting sustained bullish trend if above Rs 365–360 support zone.
