Good Morning!
The GIFT Nifty, an early indicator for the benchmark Nifty 50, is up 0.42% at 24,096 as of 6:16 am. Equity-index futures for the US (S&P 500) and Europe (Euro Stoxx 50) rose 0.81%. and 1.25% respectively.
Market Recap
Indian equity benchmarks recovered on Thursday after logging their steepest single-day fall in over three months on Wednesday. The NSE Nifty 50 closed 80.75 points, or 0.34%, higher at 23,962.80. The BSE Sensex ended 238.22 points, or 0.31%, higher at 76,741.82.
US Markets Recap
US stock futures were largely steady, with the S&P 500 and Nasdaq Composite on track to end the week with gains. Futures linked to the Dow Jones Industrial Average were flat, while S&P 500 and Nasdaq 100 futures edged slightly higher.
The muted futures trade followed a positive session on Wall Street. The Nasdaq Composite climbed 1.3% on Thursday, the S&P 500 advanced 0.8%, and the Dow Jones Industrial Average gained 0.3%.
Asian Market Check
Asian markets were set for a mixed start on Friday. Japan's Nikkei 225 was poised to open higher, with futures in Chicago at 69,005 and those in Osaka at 69,060, compared with the index's previous close of 67,743.85.
Australia's S&P/ASX 200 futures traded at 8,736, below the index's last close of 8,762.50. Meanwhile, futures for Hong Kong's Hang Seng Index stood at 24,052, slightly above its previous close of 24,030.18.
Commodity Check
Oil prices stabilised at the end of a volatile week as talks between the US and Iran continued despite renewed fighting that sharply reduced traffic through the Strait of Hormuz. Brent crude traded near $76 a barrel after falling more than 2% on Thursday, while West Texas Intermediate remained below $72.
Technical discussions between the two sides are continuing, according to a US official, who said Washington remains committed to finding a solution. However, the status of an earlier truce remained uncertain after US President Donald Trump said the deal was over.
Gold prices were also steady as investors weighed the impact of renewed tensions in the Middle East against the possibility of interest-rate hikes to tackle inflation. Bullion traded near $4,120 an ounce after ending a three-session losing streak in the previous session.
Earnings & Updates
Tata Consultancy Services (Q1 FY27, Consolidated YoY)
Q1 Revenue at Rs 72,275 crore; Growth 13.9% YoY
Annualized AI Revenue at US $2.6 billion in Q1FY27, up 13.6% QoQ
Operating Margin at 24.0%, Net Margin at 19.2%
Q1 Total Contract Value (TCV) at US$ 9.5 billion
Net Income at Rs 13,849 crore, 8.5% YoY
Net Margin at 19.2%
Net Cash from Operations at Rs12,412 crore 93% of Net Income
Mahindra & Mahindra Monthly Report (June 2026)
Production at 1,10,795 units in June 2026 versus 85,232 units in June2025.
Sales at 1,03,502 units in June 2026 versus 78,142 units in Jun. 2025.
Exports at 5,954 units in June 2026 versus 2,698 units in June 2025.
JSW Cement Outlook
Plans to increase cement capacity to 60 MTPA.
Expand grinding capacity at Nagaur, Vijayanagar and Dolvi.
Set up a split grinding unit in Punjab, a grinding unit in Fujairah, UAE.
Develop a greenfield integrated cement project at Hatta, Madhya Pradesh with supporting grinding units in Uttar Pradesh.
Anand Rathi Wealth (Q1 FY 27, Consolidated YoY)
Revenue up 18% to Rs 336 crore versus Rs 284 crore.
Net profit up 24% to Rs 116 crore versus Rs 94 crore.
Profit before tax up 24% to Rs 156 crore versus Rs 126 crore.
AUM up 21% to Rs 1,06,300 crore versus Rs 87,797 crore.
Muthoot Microfin Key Business Update (Q1 FY27)
AUM up 18% to Rs 14,457 crore versus June 2025.
Disbursements up 49% YoY to Rs 2,645 crore.
Small and Micro Enterprise Individual Loan portfolio increased to Rs 3,214 crore.
Gold loan disbursements stood at Rs 193 crore under the co-lending arrangement with Muthoot Fincorp.
Collection efficiency improved to 97.97% versus 96.43% in Q4 FY26.
CRISIL upgraded the long-term credit rating to CRISIL AA Stable from CRISIL A+ Positive.
Liquidity stood at Rs 1,310 crore.
Raised Rs 2,664 crore during the quarter.
Digital collections increased to 40% versus 23% in Q1 FY26.
Outlook 2030
Targets Rs 30,000 crore AUM by FY30.
Targets 53.4% JLG and 46.6% Non-JLG portfolio mix by FY30.
Targets RoA above 5% and RoE above 20%.
Targets 75% digital collections by 2030.
Bajaj Finserv
Bajaj General Insurance -Gross direct premium underwritten increased 21.8% YoY to Rs 1,760 crore in June 2026 and 11.6% YoY to Rs 5,769 crore for Apr.-June 2026
Bajaj Life Insurance - new business premium rose 76.6% YoY to Rs 1,504 crore in June 2026 and 58.8% YoY to Rs 3,677 crore for Apr.-June 2026
Stocks In News
- IIFL Finance: Fitch assigned a 'B+' rating with 'RR4' recovery rating to the company's USD 300 million 7.60% senior secured notes due July 2030.
- Hester Biosciences: Sold its remaining 11% stake in Texas Lifesciences comprising 5,43,248 equity shares for Rs 2.3 crore, reducing its shareholding in the company to nil.
- Greaves Cotton: Board approved subscription to the rights issue of Greaves Electric Mobility to the full extent of its entitlement, aggregating up to Rs 331.12 crore.
- The Sandur Manganese & Iron Ores: Appointed Manoj Kumar Jha as Chief Financial Officer, while Uttam Kumar Bhageria ceased to be Chief Financial Officer.
- Godrej Properties: NCLT approved the amalgamation of wholly owned subsidiary Embellish Houses with the company.
- Ashoka Buildcon: Issued Commercial Papers worth Rs 100 crore at a 7.20% coupon, with a 90-day tenor each worth Rs 5 lakh.
- Havells India: Entered the Battery Energy Storage System segment through a strategic collaboration with Norway-based Pixii AS to develop and introduce advanced energy storage solutions in India.
- Zee Media: Statutory auditors certified compliance with SEBI ICDR regulations for the conversion of 3 crore warrants into 3 crore equity shares at an issue price of Rs 8.50 per share.
- SG Finserve: Issued Commercial Papers worth Rs 30 crore at a 7.30% rate with a 53-day tenor.
- The Sandur Manganese & Iron Ores: Approved entry into new businesses including hospitality, academy, and medical devices and consumables manufacturing, to be undertaken through subsidiaries.
- HCL Technologies: HCL Foundation signed an MoU with the Uttar Pradesh Urban Development Department to collaborate on sustainable waste management initiatives in Hardoi, Prayagraj and Agra.
- Vikram Solar: Entered into a solar cell supply agreement with Evervolt Solar Technology India to procure 130 MW of Mono-PERC 10BB DCR-compliant solar cells to support its domestic module manufacturing requirements.
- Shriram Finance: Allotted secured NCDs worth Rs 2,000 crore through private placement, comprising Rs 1,000 crore at 7.80% and Rs 1,000 crore at 8.00% to support lending, refinancing and general corporate purposes.
- TTK Prestige: Operations at its Roorkee manufacturing plant were disrupted due to heavy rains and flooding in Uttarakhand.
- Jash Engineering: Company Announces consolidated order book as on 1st July 2026 is Rs. 912 Crore out of which orders worth Rs. 284 Crore are for Indian market and orders worth Rs. 628 Crore are for markets outside India.
- Krishana Phoschem: Crisil reaffirmed the company's long-term rating at Crisil A+ and short-term rating at Crisil A1, while enhancing the total bank facilities rating to Rs 1,125 crore from Rs 756 crore.
- Power Grid Corporation: Received the Letter of Intent Declared on bidding for the "Augmentation at Bhadla-III, Ramgarh PS and Kanpur (PG)" interstate transmission project.
- Torrent Pharmaceuticals: Initiated a voluntary recall of select batches of Semalix injection disposable pens (2 mg and 4 mg) following a product recall from manufacturer Dr. Reddy's Laboratories for technical evaluation.
- Container Corporation of India: Signed a 15-year agreement with GAIL (India) to set up an LNG dispensing station at its Khodiyar Inland Container Depot in Ahmedabad.
- Lux Industries: Entered into an exclusive brand licensing agreement with Riluk IPCO for the Reebok trademark in India.
- AWL Agri Business: Backed expansion of the regenerative mustard programme after demonstration farms delivered up to 30% higher yields.
- Raymond: Allotted 66.57 lakh convertible warrants to JK Investors (Bombay) on a preferential basis at Rs 497 per warrant after receiving 25% upfront subscription amount.
- Madhya Bharat Agro Products: Crisil assigned the company's long-term rating at Crisil A+ and short-term rating at Crisil A1, while enhancing the total bank facilities rating to Rs 2,006.6 crore from Rs 885 crore.
- Ceinsys Tech: Received a Letter of Intent worth Rs 67.04 crore from the Directorate of Urban Administration & Development, Madhya Pradesh for providing manpower services under the Pradhan Mantri Aw Yojana.
- Restaurant Brands Asia : Open offer for acquisition of up to 20.81 crore shares at Rs 70 per share, aggregating up to Rs 1,464.55 crore.
- GOCL Corporation: Board approval for re-appointment of mr. ravi jain as a whole-time director & Chief Financial Officer of the company.
- Pace Digitek: Subsidiary Lineage Power signed an MoU with Onward Solar Power and Kalpa Power for the supply of Battery Energy Storage Systems.
- Himadri Speciality Chemical: Issued and allotted Commercial Papers worth Rs 150 crore at a 6.60% discount rate with a 90-day tenor, at face value of Rs 5 lakh each.
- Dixon Technologies - Entered into a joint venture agreement with vivo Mobile India to form a 51:49 smartphone and electronics manufacturing JV in India, after vivo received Government of India approval; the JV will undertake part of vivo's OEM smartphone orders and can also manufacture electronic products for other brands.
- Premier Explosives & Apollo Micro Systems - Apollo Micro Systems entered into a share purchase agreement to acquire 2.22 crore shares (41.33% stake) from the promoter AKS Family Trust at Rs 698 per share and will launch an open offer for up to 1.40 crore shares (26% stake) at Rs 698 per share from public shareholders.
- Samvardhana Motherson - Agreed to provide a corporate guarantee of up to EUR 63 million (105% of a EUR 60 million facility) in favour of Sumitomo Mitsui Banking Corporation for a term loan availed by wholly owned subsidiary Motherson Global Investments B.V.
- Sanstar - Received NSE and BSE trading approvals for listing of 1.80 crore equity shares allotted to Corn Products Development Inc. on a preferential basis at Rs 110 per share
- Cummins India - Income Tax Department filed appeals before the Bombay High Court against the ITAT order that had granted relief to the company on tax adjustments of Rs 210.77 crore; the estimated tax impact is approximately Rs 72.88 crore.
- YES Bank - S&P Global Ratings assigned its first-ever rating coverage to the bank, with a long-term issuer credit rating of BB+ (Stable) and a short-term issuer credit rating of B.
- IKS Health - Completed the acquisition of TruBridge; the combined entity will support more than 2,000 healthcare organizations and 150,000 clinicians across the US
- Federal Bank - S&P Global Ratings assigned its first international investment-grade issuer rating of BBB- (Stable) and short-term rating of A-3
- Premier Energies - Commissioned a 5.6 GW solar module manufacturing facility. Total module manufacturing capacity to 11.1 GW.
- Solar Industries - Solar Overseas Mauritius incorporated Solar SA Investments (Pty) Ltd in South Africa on July 7, 2026 as a wholly owned step-down subsidiary for internal group restructuring and investment holding activities.
- Vijaya Diagnostic Centre - Appointed Narasimha Raju K.A. as Chief Financial Officer
- Great Eastern Shipping - Took delivery of 2015-built Long Range 2 tanker “Jag Laxman”, funded entirely through internal accruals; the company's fleet now comprises 41 vessels with capacity utilisation close to 100%.
- Rane Madras - CRISIL upgraded the company's long-term bank facility rating to CRISIL AA-/Stable from CRISIL A+/Stable and short-term rating to CRISIL A1+ from CRISIL A1 for bank facilities amounting to Rs 1,085 crore.
- SEAMEC - Vessel “Samudra Prabha” was taken off-hire with effect from July 9, 2026 to undergo inspection by the Directorate General of Shipping.
- Blue Jet Healthcare - Closed its QIP and allotted 1.58 crore equity shares at Rs 506 per share (4.83% discount to the floor price of Rs 531.70), raising approximately Rs 800 crore.
- One 97 Communications - Partnered with Indonesia's Flip and its subsidiary DTK to deploy Soundbox technology in Indonesia Flip will lead local market execution through DTK.
- ONGC: Board approval for the development of a 1.75 MMT Strategic Petroleum Reserve at Mangalore (Phase-I Extension).
- Jubilant Agri and Consumer Products: NCLT approved the demerger of its Agri and Consumer Products Business into Jubilant Agri Solutions.
Board Meetings
Fund Raising
Wheels India Limited
PNB Housing Finance Limited
Ind-Swift Laboratories Limited
Stock Split
Waterways Leisure Tourism Limited
Corporate Action
Goldiam International Limited Bonus 1:3
D-Link India Limited Dividend - Rs 20 Per Share/Special Dividend - Rs 7.50
AGM
Shriram finance
Exide Inds
Dalmia Sugar
JSW Dulux
Union Bank
Healthcare Global
Akum Drugs
Gujarat Themis Biosyn
Earnings Tomorrow
Elecon Engineering Company Limited
Indian Bank
Just Dial Limited
L&T Finance Limited
Bank of Maharashtra
Bulk Block Deals
- Motisons Jewellers: Arihant Capital Markets bought 36.94 lakh shares at Rs 14.52 each.
- Knack Packaging: Bank Of India Mutual Fund bought 7.00 lakh shares at Rs 196.59 each.
- N.B.I. Ind. Fin. Co.: Castamet Works sold 30,000 shares at Rs 1,902.20 each.
- Sunteck Realty: Fidelity Investment Trust Fidelity Series Emerging Markets Oppor Fund bought 10.05 lakh shares at Rs 321.64 each, Schroder International Selection Fund Emerging Asia sold 13.21 lakh shares at Rs 321.64 each.
- PC Jeweller: HRTI bought 83.6 lakh shares at Rs 10.29 each.
- NDTV: Infinity Data Technologies bought 2.45 lakh shares at Rs 83.83 each.
- Kody Technolab: Katkar Kailash Sahebrao bought 1.21 lakh shares at Rs 1,090 each, Katkar Sanjay bought 1.26 lakh shares at Rs 1,090 each, Manav Subhashchandra Patel sold 2.57 lakh shares at Rs 1,090.27 each.
- Insolation Energy: NK Securities Research sold 17.34 lakh shares at Rs 120.78 each.
- Unichem Laboratories: Polunin Emerging Markets Small Cap Fund bought 6.01 lakh shares at Rs 646.44 each.
Insider Trade
- Axiscades Technologies: Jupiter Capital (Promoter) acquired 10 lakh shares.
- Vintage Coffee And Beverages: Tati Sai Teja (Promoter and Director) acquired 16 lakh shares.
- Ravindra Energy: Abhay Wadhwa (Promoter Group) disposed 27,777 shares.
- Nintec Systems: Niraj Chhaganraj Gemawat (Promoter and Director) acquired 10,000 shares.
- Paradeep Phosphates: Zuari Maroc Phosphates (Promoter) acquired 2.91 lakh shares.
- Confidence Petroleum India: Confidence LPG Bottling (Promoter Group) acquired 28 lakh shares.
- Aurum Proptech: Aurum Realestate Developers (Promoter) acquired 30,000 shares.
KCP: VRK Grandsons Investment (Promoter Group) acquired 35,000 shares.
Trading Tweaks
Price Band revised from 20% to 10%: Unichem Laboratories
Short Term ASM
List of securities to be excluded from ASM Framework: IFCI, Rubicon Research, Silver Touch Technologies Limited
ALSO READ: Q1 Results Updates: Anand Rathi Wealth Profit Rises 70%; TCS Announces Dividend
F&O Cues
- Nifty futures up 0.40% at 24,007.60 trading at a premium of 44.8 points. Maximum Call open interest at 24500
- Maximum Put open interest at 23,600
- Securities in ban period: Kaynes
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Photo Credit: NDTV Profit
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