NDTV Profit Pulse On June 20 — Top 8 Stories At 8 P.M. Under 8 Minutes

DreamFolks Services Ltd. issued a strong denial after reports suggested key clients may be parting ways, sending the stock into a sharp tumble. Market veteran Raamdeo Agrawal sees a flood of IPOs coming to Dalal Street over the next few years, while Lilavati Medical Trust has filed a Rs 1,000 crore defamation case against HDFC Bank’s CEO.

Back on Dalal Street, benchmark indices rebounded smartly to reclaim key milestones even as Jefferies’ Chris Wood flagged fresh equity supply as a near-term risk.

Globally, President Donald Trump is weighing military action against Iran in the coming weeks, coffee prices are crashing, and Air India cancelled eight flights today.

Here’s a quick look at today’s top stories:

Chairperson Liberatha Kallat told NDTV Profit that the company has not received any communication from its top clients about ending partnerships.

Shares of the company initially fell over 6% on reports that ICICI Bank Ltd., Axis Bank Ltd., and Mastercard were considering exiting, but later rebounded.

Motilal Oswal Chairman Raamdeo Agrawal told NDTV Profit that India could see over 1,000 new listings in the next five to six years. He attributed this to rising investor participation and broadening corporate activity, adding that while some companies may fail, many “stars will also come.”

Air India cancelled eight flights on Friday including four international services due to operational and maintenance reasons. Affected passengers were offered full refunds or complimentary rescheduling. Cancelled routes included services from Dubai, Melbourne, Pune, and Ahmedabad.

The Trust has accused CEO Sashidhar Jagdishan of orchestrating a defamatory campaign and has filed both civil and criminal complaints. It alleges an attempt to obstruct operations of the public charitable institution, and has approached a Girgaon court for summons.

Indian corporates raised $7.2 billion in May and $6 billion so far in June, raising concerns about oversupply in the latest Greed and Fear report by Christopher Wood. He warns this could trigger corrections, especially with the Nifty 50 and Nifty Midcap 100 trading at 22.2x and 27.1x forward earnings respectively.

White House spokesperson Karoline Leavitt said President Donald Trump will make a decision within two weeks on whether to join Israeli strikes on Iran. The announcement came amid escalating tensions and Israeli attacks on Iranian nuclear facilities. Markets reacted with caution, trimming earlier gains.

Arabica and Robusta coffee futures have dropped over 21% and 24% respectively over the past seven weeks. The price crash follows favourable weather and increased supply, but it remains to be seen if companies will pass on the benefits to consumers.

The Nifty 50 ended the week 1.29% higher at 25,112.40 while the Sensex closed at 82,408. Strong economic data and buying in large-cap stocks lifted sentiment. This was the first time Nifty reclaimed the 25,000 mark since June 11. Global cues remain mixed with oil rising and China data soft.