Markets

SBI Funds Surges Towards ₹1.17 Lakh Crore IPO: Targeting Mega Listing Amid Slow Domestic Market India’s leading asset management company, SBI Funds Management, is targeting a monumental valuation of around Rs 1,17,000 crore or $12.3 billion in its highly anticipated Initial Public Offering (IPO). Multiple industry sources confirm that the joint venture between SBI and European asset manager Amundi Group is gearing up to list on domestic bourses later this month.The IPO marks a significant market debut for the firm, which boasts immense scale in the asset management sector. The company is finalizing its valuation range following investor roadshows and internal checks. Sources indicate that the planned launch for the SBI Funds...

SK Hynix Launches $51 Billion Mega Bet on Memory Chips as AI Boom Fuels Massive Factory Expansion SK Hynix has announced a monumental strategic commitment, setting aside an investment of 80 trillion won (approximately $51.46 billion). This massive capital injection is designated for the construction of a state-of-the-art NAND memory chip factory by 2029. The move directly addresses and aims to mitigate potential supply shortages driven by the accelerating demand fueled by artificial intelligence (AI) technologies globally.Scaling Up Chip Manufacturing to Meet AI Demand The decision underscores the critical importance of advanced memory storage in the current technological landscape. SK Hynix is expanding its manufacturing footprint...

BYD Poised to Stage Global EV Resurgence: Chinese Giant Set to Overtake Tesla in Sales Race Global Expansion Fuels BYD's EV Dominance Bid BYD Co. is aggressively repositioning its global footprint, setting up a crucial battle to reclaim the title of the world’s leading manufacturer of fully electric vehicles (EV) from Tesla Inc. The Chinese automaker has been rapidly expanding its international shipments, making its overseas market performance a critical factor in this fierce EV competition.The production figures released by BYD highlight its growing capability. During the three-month period ending June, the maker of the Dolphin reported shipping 557,090 battery-electric models. This output, while less than the previous year's...

GIFT Nifty Rockets Amid Oil Plunge and Iran Dialogue Gains Traction, Signaling Strong Rally for Indian Markets Indian benchmark indices snapped a two-day losing streak on Thursday, closing with strong gains as broad-based buying supported the market rally. The Sensex climbed 444 points, finishing at 76,923, while the Nifty gained 140 points to settle at 24,006.The early momentum remains robust, with GIFT Nifty trading at 24,193 around 8 am. This represents a sharp jump of 149 points or 0.62 percent from the previous session close, suggesting a firm opening for the benchmark indices.Global Tech Drag Continues as Asian Markets Face Headwinds Global markets presented a mixed picture overnight, largely influenced by renewed selling in...

ShareChat Eyes $400M IPO after Achieving Profitability Milestone, Targeting Next Year's Listing Mohalla Tech Pvt., the parent company behind social networks like ShareChat and short-video platform Moj, is planning a major public market listing seeking up to $400 million in capital. The goalpost for the planned Initial Public Offering (IPO) has been set for next year, following a period of significant operational restructuring and cost reduction by the firm.The CFO, Manohar Charan, confirmed that ShareChat achieved operational profitability in the quarter beginning April 2026. He stated that "Our unit economics has now turned positive" and indicated the company aims to list within the next four or five quarters.Financial Reversal...

Oil Prices Slip Over Iran-US Talk Optimism; Gold Surges Amid Soft US Jobs Data Commodity markets presented a sharply mixed picture today, driven by easing geopolitical tensions and caution regarding upcoming economic data. Crude oil prices continued their downward trend on optimism following positive indirect talks between Iran and the United States. Conversely, precious metals like gold extended gains as investors processed softer-than-expected indicators from the US labour market.Crude Oil Declines Amid Geopolitical De-escalation Hopes Oil benchmarks saw a downturn in early trading as reports surfaced regarding progress made during negotiations on the Strait of Hormuz. Qatar confirmed that Iran and the US had achieved "positive...

Central Gov DA Set for Potential Leap: AICPI-IW Data Puts Focus on 63% Hike in July 2026 The impending release of the All India Price Index for Industrial Workers (AICPI-IW) data is generating significant buzz among economists and financial analysts. This crucial inflation metric dictates the next revision of dearness allowance (DA) for central government employees. The routine six-monthly update, scheduled for July 2026, will determine whether the current DA rate increases further to protect against the erosion of basic pay.The Ministry of Labour and Employment released May AICPI-IW data, reporting a value of 150.8. This represents an increase of 0.9 points from the previous month's reading of 149.9 in April. DA revisions are...

DP Global Wealth Management Launches Major Open Offer for AMPL Capital, Aiming at 51% Stake DP Global Wealth Management LLP, along with other investors, has initiated a significant open offer for AMPL Capital Ltd. The mandate is aimed at acquiring up to 1.59 crore fully paid-up equity shares, which represents a substantial 26 percent of the expanded capital base. This move signals a major strategic shift in the company's ownership structure.The termsheet clearly states that this open offer is available at Rs 30 per share. The maximum consideration allocated for these shares stands at Rs 47.94 crore, which will be paid entirely in cash to eligible public shareholders.Mandatory Takeover Triggered by Market PurchaseThe mandatory...

Asian Chip Selloff Sends Markets Tumbling as AI Oversupply Concerns Force Tech Correction Asian stock markets registered a correction for the first time in four days, driven by heavy selling in chipmakers. The selloff revived growing concerns that the sustained rally fueled by artificial intelligence infrastructure might have moved too quickly and rapidly. Key companies experienced significant dips, pulling down regional indices.South Korea’s Kospi index fell nearly 6%, leading to a 1.2% drop in the MSCI Asia Pacific Index. In Seoul, SK Hynix Inc. and Samsung Electronics Co. both tumbled by more than 8%. Kioxia Holdings Corp. also saw a sharp decline of 14% in Japan after it had posted gains exceeding 650% this year.Technology...

Gold Surges on Warsh's Remarks as Fed Rate Hike Fears Ease Global Markets Gold rallied after a speech by US Federal Reserve Chairman Kevin Warsh eased concerns that the central bank might hike interest rates this year. Bullion snapped two days of declines, rising to trade around $4,050 an ounce following his comments at the European Central Bank forum in Portugal on Wednesday.Warsh's less-hawkish than feared comments provided a much needed reprieve for non-yielding metals amid surging energy prices and inflation indicators driven by Middle East tensions. Higher borrowing costs typically act as a significant headwind for precious commodities, making the Fed’s stance critical to market sentiment.Warsh Reaffirms Commitment to Price...

Prism Johnson Completes Sale of Raheja QBE Insurance Stake in Material Subsidiary Prism Johnson Ltd has completed the sale of its shareholding in Raheja QBE General Insurance Company Limited (RQBE) to QBE Holdings (AAP) Pty Limited. The transaction was finalized after the close of normal trading hours on 1 July 2026, marking a significant change for the company's operations.The completion of the Proposed Transaction means that RQBE has ceased to be a subsidiary of Prism Johnson as of 1 July 2026. This sale followed an earlier agreement dated 2 March 2026 between Prism Johnson and QBE Holdings regarding the acquisition of the stake in RQBE, which is a material unlisted subsidiary.Concurrently with the sale, the joint venture...

Developers, Family Offices Drive Shift: India's Hospitality Transforms Into High-Yield Operating Real Estate India's hospitality sector is undergoing a profound structural overhaul, marking a decisive departure from its previous state of being solely controlled by hotel companies. The ownership landscape is rapidly diversifying as developers, family offices, lenders, and first-generation entrepreneurs increasingly acquire hotel assets. This shift signals that these properties are no longer viewed merely as operational businesses but as powerful engines for long-term cash flow generation within the real estate segment.Hotels Redefined: From Hospitality Business to Operating Asset According to insights from NOESIS Hotel Advisors, hotels...

South Korean Chip Stocks Plunge as Meta's AI Strategy and Apple Deals Spark Oversupply Fears AI Capacity Doubts Trigger Major Selloff in Korean Tech Stocks South Korean equities experienced a significant downturn as concerns regarding the sustainability of the AI boom emerged. The Kospi Index fell as much as 7%, reflecting investor unease over excess capacity in the rapidly expanding AI computing sector. Market heavyweights, including Samsung Electronics Co. and SK Hynix Inc., saw declines of at least 8% each.The selloff caused a temporary suspension of program trading on the Korea Exchange following an outsized drop in Kospi futures. US counterparts such as Micron Technology Inc. and Sandisk Corp. also closed down by over 10%. This...

NDL Ventures to Host Shareholder Meeting for Merger of Hinduja Leyland Finance into Transferee Company NDL Ventures Limited, formerly known as NXTDIGITAL Limited, has scheduled a special meeting of its Equity Shareholders to consider and approve the proposed Scheme of Merger by Absorption of Hinduja Leyland Finance Limited (HLFL) into NDL Ventures Limited.The planned transaction involves the absorption of Hinduja Leyland Finance Limited (Transferor Company/HLFL) into NDL Ventures Limited (Transferee Company/NDL). This meeting is being convened following an order dated June 17, 2026, issued by the Hon'ble Company Law Tribunal, Mumbai Bench (NCLT).The company will hold the shareholder meeting on Thursday, July 30, 2026, at 12:00 p.m...

Nayara Slashes Fuel Prices as Global Crude Retreats: Will State OMCs Follow Suit in Major Cities? Fuel prices across India are under intense scrutiny as private retailers begin passing on global oil price declines, while state-run Oil Marketing Companies (OMCs) maintain their current rates. The move by a major private fuel provider has put the spotlight squarely on public sector refiners, which control the vast majority of the nation’s retail network. This development occurs amid a significant easing in international crude oil prices, prompting market observers to watch closely for further price revisions nationwide.Private Retailers Cut Prices Amid Global Crude Drop Nayara Energy, backed by Rosneft, initiated a fuel price reduction...

GRE Renew Enertech Executes Definitive EPC Agreement for 50 MW Solar PV Project GRE Renew Enertech Limited has finalized a strategic partnership, executing a comprehensive Engineering, Procurement and Construction (EPC) Agreement with Solarium Green Energy Limited. The agreement pertains to the development of a significant ground-mounted solar power project.The contract was signed on June 30, 2026, formalizing the commercial arrangements following an earlier Letter of Award. This definitive EPC Agreement covers all aspects of the construction and subsequent management for an approximately 50 MW AC / 65 MW DC Ground Mounted Solar PV Project.In addition to the construction phase, the agreement includes provision for Operation &...

Laxmipati Engineering Works Ltd States Stock Price Movements Are Purely Market Driven Laxmipati Engineering Works Limited addressed the recent significant movements in its scrip price, confirming that the shifts are entirely market driven and fall outside the company's control.The company stated that management is neither aware nor does it possess knowledge regarding the reasons behind the volatility observed in the share price of Laxmipati Engineering Works Ltd.In relation to concerns over the stock movement, the company emphasized that all aspects related to its obligations are being met through relevant disclosures. This clarification was issued following a request concerning the substantial changes in the scrip's value.Stock...

Shelter Pharma Completes and Dispatches Export Order Worth USD 18,300 to UAEShelter Pharma Ltd has successfully completed the manufacturing and dispatched a significant international export order. The consignment was sent to First Veterinary Medicines Trading LLC in the UAE.The company's successful execution of this order reflects its growing global presence. The management noted that completing and dispatching this international export order is a major milestone for Shelter Pharma, highlighting its commitment to delivering quality products within stipulated timelines.The export details encompass Animal Healthcare Products valued at USD 18,300. This transaction marks the full completion of the manufacturing process for the order...

Sharp India Secures Contract worth INR 7.93 Crores for Supply of Machinery and Equipment Sharp India Ltd has secured an order from Energygov Manpower Agency India Private Limited for the supply of machinery, accessories, and equipment. The contract represents a significant business development for the company.The order was awarded by the domestic entity, Energygov Manpower Agency India Pvt Ltd. The total value of the contract is INR 7.93 Crores, excluding GST. Sharp India Ltd is set to execute the contract within one month.Details regarding the contract include the following points:CategoryDetailsCounterpartyEnergygov Manpower Agency India Pvt Ltd (Domestic Entity)Nature of OrderSupply of Machinery, Accessories and...

Schneider Electric President Systems Ltd Affirms No Undisclosed Events Affecting Security Price Movement Schneider Electric President Systems Limited has stated that the company is not aware of any undisclosed event or announcement that could potentially influence the price movement of its securities in the market.In a clarification regarding recent market movements, the company asserted that it holds no information that would necessitate mandatory disclosure under relevant regulations pertaining to listing obligations. The statement reaffirms the company's adherence to applicable SEBI Listing Regulations.The organization confirmed that it is diligently complying with all required provisions and has promptly disclosed every material...