Stock Market News Today Highlights: Nifty, Sensex Rally On Friday, But Halts Longest Weekly Gaining Streak Since September

• Nifty 50 rose 1.02% or 244.10 points to close at 24,206.90.

• Sensex gained 1.08% or 827.57 points to end at 77,569.39.

• Despite Friday's rally, both benchmark indices ended the week lower.

• Nifty 50 declined 0.25% for the week, while Sensex fell 0.22%.

• The decline snapped a four-week winning streak for both indices, their longest weekly gaining run since December 2025.

• Nifty 50 was up 0.99% at 24,200.80, gaining 238 points.
• Sensex rose 1.05% to 77,545.99, up 804.17 points.
• Both benchmark indices traded firmly in the green during the session.

Shares of Mangalore Refinery & Petrochemicals Ltd. rose more than 6% in early trade on Friday after parent Oil and Natural Gas Corp. announced plans to develop a 1.75 million metric tonne (MT) national strategic petroleum reserve in Mangaluru. The announcement brought the refinery into focus because of its role in India's fuel storage infrastructure.

The stock climbed as much as 6% to Rs 159.30 apiece during the session, compared with its previous close of Rs 149.68.

Bank of Maharashtra Q1 Results - YoY

• Net profit up 26.8% at Rs 2,020 crore vs Rs 1,593 crore
• NII up 14.5% at Rs 3,770 crore vs Rs 3,292 crore
• Operating profit up 21.3% at Rs 3,117 crore vs Rs 2,570 crore
• Provisions at Rs 840 crore vs Rs 867 crore

Asset Quality - QoQ

• Gross NPA flat at 1.45%
• Net NPA flat at 0.13%
• Provisions at Rs 840 crore vs Rs 617 crore

• South Korea's Kospi rose 2.52% to 7,475.94, the top performer in the region.
• Japan's Nikkei 225 gained 1.20% to 68,557.73.
• Hong Kong's Hang Seng advanced 0.60% to 24,175.12.
• Australia's S&P/ASX 200 added 0.50% to 8,806.00.
• China's Shanghai Composite declined 1.00% to 3,996.16.

• Italy’s FTSE MIB rose 0.33%, while Spain’s IBEX 35 gained 0.31%.

• Switzerland’s SMI was up 0.16% and Germany’s HEX index added 0.14%.

• Germany’s DAX fell 0.20%, while the pan-European STOXX 600 slipped 0.14%.

• Portugal’s PSI 20 declined 0.38%, and Denmark’s OMXC 25 was down 0.28%.

• France’s CAC eased 0.07%, while Belgium’s BEL 20 fell 0.06%.

• The UK’s FTSE was largely flat, up 0.01%.

• TVS Motor Company's board will meet on July 21 to consider raising up to Rs 1,000 crore through the issuance of non-convertible debentures (NCDs).
• The proposal was disclosed in an exchange filing.

Elecon Engineering shares fell over 2% after the company reported a sharp decline in June-quarter earnings.

• The stock traded around Rs 503.6, compared with its previous close of Rs 512.35.
• Q1 net profit fell 60% to Rs 70.4 crore from Rs 175 crore a year ago.
• Revenue rose 6% to Rs 521 crore from Rs 491 crore.
• EBITDA declined 16.3% to Rs 109 crore, while EBITDA margin narrowed to 21% from 26.6%.
• The company's order book stood at Rs 1,518 crore as of June 30, with order inflows of Rs 755 crore during the quarter.
• Management cited temporary moderation in project execution in the Material Handling Equipment business.

• Mutual funds recorded a net outflow of Rs 52,949 crore in June, compared with an outflow of Rs 64,021 crore in May.

• Mutual fund industry net AUM stood at Rs 82.22 lakh crore, up from Rs 81.6 lakh crore in the previous month.

• Active equity inflows increased to Rs 28,973 crore from Rs 22,908 crore in May.

• Fixed income funds saw an outflow of Rs 1.09 lakh crore, compared with an outflow of Rs 96,949 crore in May.

• Large-cap inflows rose to Rs 2,067 crore from Rs 1,593 crore.

• Mid-cap inflows increased to Rs 6,090 crore from Rs 4,385 crore.

• Small-cap inflows rose to Rs 5,602 crore from Rs 4,946 crore.

• Flexi-cap inflows came in at Rs 5,231 crore versus Rs 5,175 crore in May.

• Sectoral and thematic fund inflows increased to Rs 1,469 crore from Rs 648 crore.

• Gold ETFs recorded an inflow of Rs 3,443 crore, compared with an outflow of Rs 725 crore in May.

• Multi-asset allocation funds saw inflows of Rs 4,810 crore versus Rs 3,928 crore in the previous month.

• Food Square has opened its first store outside Mumbai, entering Ahmedabad with a 9,000 sq ft food and gourmet retail destination, PTI reported.

• The store will offer global grocery products, fresh produce, dining experiences and gifting solutions under one roof.

• The company said the outlet will feature international brands, speciality foods, imported cheeses, exotic fruits and premium gourmet products.

• Ahmedabad has been identified as a key market due to its growing premium consumption and food-focused customer base.

• Food Square is positioning the format as an experiential retail destination with personalised gifting and concierge services.

• Zostel withdrew its fresh plea before the Delhi High Court seeking protection for the disputed 7% stake it claims in IPO-bound OYO (now PRISM).

• The court noted that the parties continue to be bound by a 2022 court-recorded arrangement governing the disputed equity.

• Zostel had sought status quo on up to 7% of OYO's shareholding, preservation of the stake in escrow or equivalent security, and protection ahead of the proposed IPO.

• The plea was closed after the court referred to the March 2022 arrangement.

• Under the 2022 arrangement, if Zostel ultimately succeeds in enforcement proceedings, it would receive up to 7% shareholding in OYO or the equivalent value of that stake.

• OYO's challenge to the 2021 arbitral award was allowed by the Delhi High Court in May 2025, following which Zostel filed an appeal.

• The appeal is pending before a Division Bench and is listed for hearing on August 12.

• Separately, Zostel has approached Sebi seeking a review of disclosures made by PRISM in its updated draft IPO papers.

• PRISM has disclosed details of the dispute, including the contingent 7% stake claim, in its June 2026 UDRHP filing.

• PRISM declined to comment on the court order.

• NTPC is looking to invest in overseas uranium mines to secure fuel supplies for its planned nuclear power capacity expansion, Bloomberg reported.

• The company has issued a tender to appoint consultants to identify potential uranium assets.

• Countries under consideration include Canada, Australia, Kazakhstan and South Africa.

• Bids for the consultancy mandate are due on July 16.

• NTPC plans to build 30 GW of nuclear power capacity over the next two decades.

• The company said overseas acquisitions are being explored due to limitations in domestic uranium availability and mining reserves.

• Indian Bank reported a 10% rise in net profit to Rs 3,273 crore from Rs 2,973 crore a year earlier.

• Net interest income (NII) grew 17% to Rs 7,435 crore from Rs 6,359 crore.

• Operating profit increased 16.5% to Rs 5,557 crore from Rs 4,770 crore.

• Other income rose 8% to Rs 2,633 crore from Rs 2,439 crore.

• Gross NPA improved to 1.86% from 1.98% in the previous quarter.

• Net NPA remained flat at 0.15% quarter-on-quarter.

• Provisions rose 73% YoY to Rs 1,196 crore from Rs 691 crore.

• Provisions were down 2.5% QoQ from Rs 1,225 crore.

• Ion Exchange received an order worth around Rs 503 crore from Hyundai Engineering.
• The order is for supply of filtration units in the Middle East.
• The company disclosed the development in an exchange filing.

• Adani Enterprises has signed a long-term agreement with France-based Dioxycle.
• The partnership focuses on manufacturing low-carbon chemicals.
• The development was disclosed through an exchange filing.

• The World Bank Group has approved $890 million in funding to support India’s rooftop solar programme, PTI reported.

• The package includes an $820 million IBRD loan, a $60 million concessional loan from the Clean Technology Fund and a $10 million grant from the Livable Planet Fund.

• The World Bank also expects to mobilise about $4.2 billion in private financing through commercial loans.

• The programme aims to expand residential rooftop solar adoption and support clean energy access for households.

• The initiative is expected to create around 1.7 million jobs across manufacturing, installation and renewable energy services.

• The World Bank said it has supported the growth of India’s rooftop solar capacity from 500 MW to over 27 GW over the past decade.

• Elecon Engineering reported a 60% decline in consolidated net profit to Rs 70.4 crore from Rs 175 crore a year ago.

• Revenue rose 6% to Rs 521 crore from Rs 491 crore.

• EBITDA declined 16.3% to Rs 109 crore from Rs 130 crore last year.

• EBITDA margin contracted to 21% from 26.6% a year earlier.

• Assam announced plans to add 15,000 circuit kilometres of transmission and distribution lines.

• The state will also set up 120 new substations and 20,000 high-voltage distribution transformers.

• Assam said transmission and distribution losses have been reduced to 13.4%, below the national average.

• The government has now set a target to further reduce losses to 8% over the next few years.

• The upgrade is part of a broader effort to strengthen power infrastructure and improve network efficiency across the state.

• Gurmeet Chadha said TCS' AI revenue growth highlights a shift in focus towards emerging technology opportunities.

• He said TCS' Q1 hiring trends and deal wins were positive indicators.

• Chadha noted that clients are still holding back on large technology spending commitments.

• He expects deal win momentum to improve in the second half of the financial year.

• William Lee said geopolitical risks appear to be settling down, with market focus now shifting towards earnings and the AI theme.

• He noted that semiconductor stocks have performed well in recent months.

• Lee said the AI space could continue to see significant uncertainty despite strong investor interest.

• He added that US inflation expectations have moderated and markets are not concerned about runaway inflation.

• Central banks globally are reassessing policy frameworks, according to Lee.

• He said AI-related investments are attracting global capital flows into the US.

• Lee said India has benefited indirectly from the AI investment cycle.

• He added that India is among the key countries positioned to compete with China.

• FIRST (Forum for Internet Retailers, Sellers and Traders) has filed a complaint with the Competition Commission of India (CCI) against Flipkart, according to a copy of the complaint accessed by NDTV Profit.

• The body has alleged that GST-related practices created a Rs 3,000 crore war chest that enabled deep discounting on the platform.

• It claimed Flipkart favoured 33 sellers who sold products below cost.

• The complaint also alleged that Flipkart operates an inventory-led model despite holding a marketplace licence.

• FIRST has sought a CCI investigation into Flipkart, Walmart, Myntra, Ekart and Cleartrip.

• Flipkart did not respond to NDTV Profit’s queries.

• RailTel Corporation received an order worth Rs 18.5 crore from the Uttar Pradesh IT Department.
• The development was disclosed through an exchange filing.

• TCS MD & CEO said Q1 revenue performance was favourable, while AI revenue continued to grow.

• The company saw positive growth trends in the BFSI segment during the quarter.

• TCS said the ticket size of AI-related revenue is increasing.

• Management noted that the annuity component in AI deals remains limited.

• TCS President & COO said deal renewals are seeing good momentum.

• The company highlighted continued traction in client engagement and renewal activity.

• India has notified the procedure for importers to avail tariff-rate quota (TRQ) benefits on passenger vehicle and goods vehicle imports under the India-UK trade agreement, PTI reported.

• The India-UK Comprehensive Economic and Trade Agreement (CETA) is scheduled to come into force on July 15.

• Only vehicle manufacturers and their authorised dealers or channel partners will be eligible to apply for the quota benefits.

• Applicants will have to submit a pre-purchase agreement from a UK-based vehicle manufacturer detailing proposed supplies during the quota period.

• The DGFT will monitor cumulative allocations and stop issuing certificates once the quota limit is exhausted.

• TRQ certificates will remain valid for up to 12 months or until the end of the calendar year, whichever is earlier.

• Importers have been advised to pass on the benefit of concessional customs duty to end consumers.

• Gulf Oil said it has managed supply security effectively despite higher crude prices, according to Managing Director Ravi Chawla.

• The company has already undertaken price hikes from March to offset rising costs and may consider further increases if required.

• Margin guidance remains unchanged at 12–14%.

• Management expects the impact of higher crude oil prices to be felt with a lag.

• Capacity expansion plans remain on track.

• Tirex is expected to contribute Rs 300–400 crore in revenue over the next 3–4 years.

• Gulf Oil said EV fluids offer better margins than traditional lubricant products.

• Data centre cooling fluids are currently in the trial phase.

• Premier Explosives said it does not expect any major changes in its management structure following the partnership with Apollo.

• The company said the partnership is expected to start contributing from FY28.

• Capacity expansion efforts are currently underway.

• Management said there are no plans for capital infusion at this stage.

• Premier Explosives expects better growth in its domestic business from the agreement with Apollo.

• AU Small Finance Bank rose 2.29%, the top gainer among banking stocks.
• IDFC First Bank gained 2.19%, while Bank of Baroda advanced 1.72%.
• Axis Bank and ICICI Bank were up 1.62% and 1.61%, respectively.

• Constant currency revenue growth came in at 0.4% QoQ, in line with street expectations of flat-to-modest growth.
• TCS added 9,279 employees on a net basis during the quarter, the highest headcount addition in 15 quarters.
• The BFSI segment grew 1.6% QoQ, while the company expects recovery in Manufacturing and Life Sciences from Q2.
• Annualised AI revenue rose 13% to $2.6 billion and now accounts for 8.5% of annualised revenue.
• Management indicated demand conditions could improve from the September quarter.
• Kotak Securities described TCS as a "solid operator in a difficult transition."

• Barbeque-Nation Hospitality rose 2.72%, the top gainer among listed QSR and food delivery stocks.
• Jubilant FoodWorks gained 1.77%, while Westlife Foodworld advanced 0.93%.
• Swiggy was up 0.09% and Eternal gained 0.05%.


 

• Vedanta Oil & Gas rose 4.59%, leading gains among the newly listed Vedanta group companies.
• Vedanta Iron & Steel gained 4.09%, while Vedanta Aluminium climbed 2.21%.
• Vedanta Ltd. traded higher by 1.16%.
• Vedanta Power advanced 0.92%.


 

• Nifty IT was the top-performing sector, rising 2.96%.

• Nifty Metal gained 1.37%, while Nifty Oil & Gas advanced 1.04%.

• Nifty PSU Bank rose 0.89%, followed by Nifty Private Bank up 0.85% and Nifty Bank up 0.83%.

• Nifty Financial Services gained 0.74%, while Nifty Media and Nifty Energy rose 0.70% each.

• Nifty Auto added 0.57%, with Nifty Rural and Nifty India Defence up 0.55% and 0.52%, respectively.

• Nifty Consumption gained 0.34%, while Nifty FMCG rose 0.12%.

• Nifty Realty slipped 0.03%.

• Nifty Pharma was the only major laggard, falling 0.54%.



 

• IT stocks traded higher, led by Zensar Technologies, which gained 6.92%.

• Newgen Software rose 5.30%, while Sonata Software advanced 4.13%.

• TCS gained 3.63%, while Birlasoft and Coforge rose 3.46% each.

• Tech Mahindra climbed 3.45%, followed by Infosys at 3.43% and HCL Technologies at 3.37%.

• KPIT Technologies gained 2.89%, while Persistent Systems rose 2.78%.

• Hexaware Technologies and Wipro were up 2.48% each.

• Happiest Minds gained 2.02%, while Oracle Financial Services added 1.97%.



 

• The NSE Nifty 50 rose as much as 0.86% to 24,168.80
• The BSE Sensex rose as much as 0.9% or 706 points to 77,447.71.
   

The Indian rupee opened higher against the US dollar. The local currency appreciated as much as 14 paise to 95.23 against the greenback.

• Nifty 50 rose 0.68% to 24,124.70, up 161.90 points in pre-market trade.
• Sensex gained 0.85% to 77,395.63, rising 653.81 points.
• Both benchmark indices indicated a positive start to the session.

• TCS reported Q1 revenue of Rs 72,275 crore, up 2.23% year-on-year.

• Net profit fell 2.68% to Rs 13,349 crore, while EBIT declined 3.09% to Rs 17,317 crore.

• EBIT margin came in at 23.95%, down 131 basis points from 25.27% a year ago, impacted by wage hikes.

• Constant currency revenue growth stood at 0.4%, in line with estimates.

• The company added 9,279 employees during the quarter, the highest net headcount addition in 15 quarters.

• Annualised AI revenue rose 13% to $2.6 billion from $2.3 billion in the previous quarter and accounted for 8.5% of annualised revenue.

• Total deal wins stood at $9.5 billion, compared with estimates of $10 billion.

• The Consumer business was the weakest segment, declining 4% quarter-on-quarter.

• TCS said Manufacturing and Life Sciences are expected to improve in Q2.

• Regional market growth was led by India.

Multiple brokerages cut target prices on TCS after its June-quarter results, while maintaining differing views on the stock.

• Axis Capital maintained Buy and cut its target price to Rs 2,500 from Rs 2,520.

  • The brokerage said growth in BFSI and Hi-Tech offset weakness in the Consumer segment.
  • It said management commentary points to broader improvement in Q2 FY27.
  • Axis Capital noted that hiring and wage hikes were the strongest since FY23.

• Goldman Sachs maintained Buy and reduced its target price to Rs 2,370 from Rs 2,410.

  • It described the quarter as subdued but in line with expectations.
  • The brokerage said TCS expects demand improvement from the September 2026 quarter.
  • It added that headcount additions suggest no material AI-led disruption to the business model.

• Jefferies maintained Underperform and slashed its target price to Rs 1,800 from Rs 2,275.

  • The brokerage cited subdued revenue growth and soft bookings despite a large deal win.
  • It said elevated hiring could weigh on margins and expects around 4% EPS CAGR over FY27–FY29.

• Citi maintained Sell and cut its target price to Rs 1,825 from Rs 1,965.

  • It said international revenue was largely flat sequentially.
  • Citi expects demand to improve during Q2 as technology spending resumes.
  • The brokerage said sluggish growth remains a key factor for valuations.

• Asian markets opened higher on Friday as investors tracked signs of renewed diplomatic engagement between the US and Iran.
• South Korea’s Kospi rose 3.36%, while Japan’s Nikkei 225 gained 1.46%.
• Australia’s ASX 200 slipped 0.07% in early trade.
• The gains came as investors assessed the possibility of easing tensions in the Middle East.

• Brent crude traded near $76 per barrel after declining more than 2% in the previous session.
• West Texas Intermediate (WTI) crude hovered below $72 per barrel.
• Oil prices steadied after a volatile week as investors assessed whether diplomatic efforts could prevent further escalation in the Middle East.
• Markets also continued to monitor developments around the Strait of Hormuz and their impact on energy supplies.

• GIFT Nifty traded at 24,105.50, compared with Thursday’s Nifty 50 close of 23,962.80.
• The early indicator was about 143 points higher than the previous close.