Markets

Vivid Electromech Reports Robust Financial Growth, Strong Focus on Data Centre Market Vivid Electromech Limited (Vivid) has maintained a strong growth trajectory, driven by its specialized focus within the data centre and industrial manufacturing segments. The company provided an overview of its operations and financial performance during an investor interaction program titled 'INDIA Inc. Unplugged: Conversations that Create Conviction,' organized by PhillipCapital (India) Pvt. Ltd.The firm has executed a strategic pivot over the past five years, moving away from lower-margin EPC, commercial, and residential segments entirely to concentrate on data centres, metro & rail infrastructure, industrial manufacturing, and renewable energy...

Admach Systems Ltd Receives Purchase Order Valuation ₹501.50 Lakhs from Steel Industry Customer Admach Systems Ltd has received a purchase order from a domestic customer in the steel industry, for which the value is INR 501.50 Lakhs, including GST. The order concerns the supply of Two roll straightening machine to the domestic client.The company currently reports an order book size totaling INR 81.71 Crores, including GST.Details regarding the significant terms and conditions of the awarded order are as follows:ParticularsDetailsName of the entity awarding the order(s)/contract(s)Two roll straightening machine for Domestic Customer of Steel IndustryNature of order(s)/contract(s)Two roll straightening machineWhether...

Sensex Climbs 250 Points, Nifty Near 23,900 as IT Stocks Surge Amid Geopolitical Easing The Indian equity markets saw a positive trend on Wednesday, driven by favorable developments in crude oil prices and robust buying interest in the information technology sector. The benchmark indices traded higher, signaling cautious optimism among investors despite mixed movements within specific tech stocks.Market Performance Snapshot: Sensex and Nifty Gain Ground As of 9:40 a.m., the market showed strength across major segments. The Sensex advanced by 238.57 points or 0.31 percent, reaching levels at 76,439.25. Simultaneously, the broader Nifty index climbed to 23,870.30, marking a gain of 46.20 points or 0.19 percent.Crude Oil Prices Decline...

Dollar Soars, Reaching Multi-Year High as Fed Hike Outlook Plunges Rupee Amid Broader Risk Aversion The rupee opened significantly weaker on June 24, trading at 94.90 against the dollar after closing at 94.74 in the preceding session. This decline followed a surge in the US dollar and gains in global bond yields, driven by heightened expectations that the Federal Reserve may implement interest rate hikes later this year.The Dollar Index, which measures the greenback's strength against six major currencies, reached 101.50 following last week when the Federal Reserve adopted a notably hawkish tone regarding future monetary policy. Analysts have subsequently revised their outlook, moving from expectations of no increases to pencilling in...

Moody's Assigns Baa3 Rating with Stable Outlook to Axis Bank Global Medium Term Notes Axis Bank Ltd received a significant credit rating action from Moody's Investors Service concerning its Global Medium Term Notes (GMTN) and specific debt obligations issued under the GIFT City International Banking Unit (IBU). Moody's assigned a Baa3 rating with a stable outlook to the notes.The rating concerns pertain to various instruments issued by Axis Bank, including Senior Notes generated through the GMTN programme. The rationale letter detailing this assignment has been provided by the bank.Separately, regarding a specific debt issuance, Moody's also assessed the USD 300,000,000 Fixed Rate (5.348%) Senior Unsecured Notes due June 30, 2031...

SKY Alloys to Tackle ₹318 Crore Debt Burden with Draft IPO Plan Chhattisgarh Steel Manufacturer Files Papers for Major Funding Raise Chhattisgarh-based steel manufacturing firm, SKY Alloys and Power (SAPL), has filed preliminary documents with the Securities and Exchange Board of India (SEBI). The filing signals a strategic move aimed at significant debt reduction through an Initial Public Offering (IPO).The company is planning to raise substantial funds via this IPO to address its existing borrowings. This initiative underscores SAPL's commitment to strengthening its financial structure and boosting operational capacity.Structure of the Proposed IPO Revealed The proposed IPO is slated to be a combination offering. It includes a...

Domestic Fuel Surge: India Pivots Imported Coal Plants to Burn Local Supplies Amid Falling Imports India is aggressively increasing the use of domestic fuel at imported coal power plants, aiming to curb costly overseas purchases and enhance self-reliance in energy generation. Government and industry officials revealed that a significant push toward local resources is underway across specialized thermal coal units nationwide.Power Sector Operations Shift Towards Domestic Coal Currently, operators are running 5.7 gigawatts (GW) capacity of imported coal-based plants using domestic coal this year alone. This represents part of the total 18.7 GW capacity designed to run on imported fuel. Furthermore, trials are actively progressing to...

India Ratings Upgrades Aye Finance Limited, Citing Improved Capitalization and Diversified Funding Profile India Ratings and Research (Ind-Ra) has upgraded the credit ratings for Aye Finance Limited (formerly known as Aye Finance Private Limited), reflecting the company's strengthened capital position, improved lending portfolio quality, and diversified funding structure. Ind-Ra granted a Stable Outlook following these upgrades.The rating actions covered several key instruments of the company:Instrument TypePrevious RatingRevised Rating with OutlookRating ActionIssuer ratingIND A/StableIND A+/StableUpgradedNon-Convertible Debentures (NCDs)IND A/ StableIND A+/StableUpgradedBank Loan FacilitiesIND A/StableIND...

IRFC Shares Plunge as Government Launches Offer to Sell Up to 2% Stake in Railway PSU Shares of Indian Railway Finance Corporation (IRFC) dropped by 5% on June 24, following the government's announcement that it plans to sell up to a 2% stake in the railway public sector undertaking. The market reacted negatively to the news of potential disinvestment via an Offer for Sale (OFS).The targeted two-day share sale will put up to 26.13 crore shares on offer. At the stated floor price, this divestment is projected to bring over ₹2,300 crore to the national exchequer.Details of IRFC Offer for Sale (OFS) The government has set the floor price for the stake sale at ₹91 per share. This floor price represents a 7.79% discount compared to...

Tech Rally Continues as Nifty IT Gains Despite JPMorgan Caution Over AI Disruption Nifty IT Rises Amid Broking Concerns on AI Demand Shifts The information technology sector saw a mixed trading session but managed gains in early trade, pushing the Nifty IT index upward. This move occurred despite a cautionary rating issued by JPMorgan regarding the future growth prospects of Indian IT companies. The brokerage highlighted potential headwinds stemming from artificial intelligence (AI) disruption and sluggish demand trends within the industry.At 09:22 IST, the Nifty IT index was up 0.7 percent, outpacing the broader market's performance as the Nifty 50 gained 0.13 percent. Tech Mahindra emerged among the sector's best performers...

India vs US Trade Titans: Negotiations Nearing Climax as Exporters Fight for Tariff Advantage Before July 24 Ultimatum The bilateral trade talks between India and the United States are nearing a critical juncture, with officials confirming that the two nations are "very, very close" to finalizing a historic trade deal. The focus has intensely shifted from political intent to crucial tariff details, as New Delhi works to preserve a competitive advantage for its exporters before Washington's temporary 10 percent import duty window expires on July 24.US Deputy Assistant Secretary of State Bethany Poulos Morrison confirmed the proximity of the negotiations at an event held in Washington D.C. She noted that Prime Minister Narendra Modi and...

Shilpa Biologicals Commissions Advanced ADC GMP Manufacturing Facility in India Shilpa Biologicals Ltd, a material subsidiary of Shilpa Medicare Ltd (NSE: SHILPAMED), has successfully commissioned a state-of-the-art Antibody-Drug Conjugate (ADC) GMP Manufacturing Facility. The facility is built to meet global regulatory standards, including those set by the US FDA and EMA, marking a significant advancement for the company in the advanced oncology segment.The newly operational facility is now undergoing GMP qualification protocols, positioning Shilpa Biologicals for commercial readiness in complex biologic manufacturing. This commissioning reinforces Shilpa Medicare's dedication to high-value biologics and sophisticated oncology Drug...

Bond Yield Eases as Brent Prices Plunge, Lighter Oil Bill Boosts Indian Market Sentiment The market saw a noticeable shift in sentiment today following the easing of 10-year sovereign bond yields. This decline came alongside a supportive slide in global energy prices, which provided relief to investor sentiment despite downward pressure on the rupee against the dollar.Global Bond Yields and Oil Prices Movements The benchmark 10-year yield eased slightly at the open, trading at 6.8220 percent after closing the previous session at 6.8364 percent. Meanwhile, Brent crude oil prices were observed near $77 a barrel. This figure represents nearly 17 percent decline for the commodity this month and reached its lowest level in almost three...

US Chip Crackdown Ignites AI Race: Restricted Nvidia Hardware Surges in Price as Demand Soars in China As Washington tightens its grip on advanced semiconductor exports, a unique and expensive commodity has emerged: restricted Nvidia AI chips. The intensifying U.S. export controls have collided violently with surging demand from Chinese companies racing to build cutting-edge artificial intelligence infrastructure. This squeeze has propelled prices for specific restricted Nvidia products to record highs within China's specialized market, exposing the enduring dependency on American chip technology.Prices for several regulated Nvidia products have seen sharp increases over the past six months. These surges reflect a growing mismatch...

Mayank Cattle Food Ltd Announces Board Meeting to Consider Bonus Share Proposal Mayank Cattle Food Ltd has announced that its Board of Directors will convene a meeting to consider and approve a proposal for the issue of bonus shares. The company’s decision regarding the share issue is subject to requisite approvals.The meeting is scheduled for Tuesday, July 7, 2026.In light of this corporate event, the trading window for dealing in the securities of Mayank Cattle Food Ltd will remain closed from June 24, 2026, through July 9, 2026. This closure ensures compliance with insider trading regulations.Stock Price Movement Mayank Cattle Food Ltd. settled on Tuesday at ₹203.85, as shares edged up 0.67% in the closing trade. Throughout the...

Gold Plummets Amid Dollar Strength; Volatility Looms Ahead of US Jobs Data Precious metals traded lower across international and domestic markets on Tuesday amid the sustained strength of the US dollar. The decline was attributed to shifts in currency movements, making gold a commodity susceptible to volatility. Investors are keenly awaiting key economic reports from the United States, which are poised to influence future price action significantly.Global Gold and Silver Prices Slip Down The international spot market saw mixed performance for precious metals during early trading sessions on Comex. Spot gold experienced a decline of 1.57 percent, settling at $4,084.40 per ounce. Silver also shed value, edged down by 1.11 percent to...

Biocon Partner Duopharma Biotech Secures Insulin Tenders Worth Over MYR 225 Million in Malaysia Biocon Limited announced that its partner, Duopharma Biotech Berhad, has secured multiple insulin contracts from the Ministry of Health (MoH), Malaysia, valued at over MYR 225 million for the current year. This significant deal reinforces Biocon’s commitment to diabetes care in Malaysia through its wholly-owned subsidiary, Duopharma (M) Sendirian Berhad.Through this partnership, Biocon Sdn. Bhd., Malaysia will supply short-acting recombinant human insulin, insulin glargine, and insulin aspart for distribution by the local partner. These supplies aim to support continuous access to cost-effective, high-quality insulin therapies for people...

Knack Packaging to Surge in Market with ₹440 Crore IPO, Targeting Growth through New Manufacturing Facility The manufacturing sector is set for a major market debut as Knack Packaging, a specialized provider of packaging solutions, prepares to launch its Initial Public Offering (IPO). The company's public subscription window opens on July 1, promising investors a look into the growing potential of indigenous packaging expertise.Knack Packaging is offering an IPO worth ₹440 crore, with shares priced in the band of ₹161 to ₹170. This issuance will be the first mainboard public issue of the month, attracting attention from both institutional and retail investors across the country.IPO Structure and Investor Allocation The total IPO...

Global Commodities Tumble as Oil Reaches Lows Amid Dollar Surge and Easing Geo-Tension Oil Prices Slip as Strait of Hormuz Concerns Ease Commodity markets registered a downturn on Wednesday, driven by a combination of easing geopolitical tensions in the Middle East and the strengthening U.S. dollar. Crude oil prices fell, extending losses seen this week and trading near four-month lows after concerns over oil tankers stranded in the Gulf began to subside.Brent crude futures traded down 0.5% or 37 cents, settling at $76.71 a barrel. Concurrently, U.S. West Texas Intermediate (WTI) slipped 0.5%, closing at $72.85 a barrel. Both benchmarks declined close to 1% on Tuesday, touching their lowest levels since early March.Precious Metals...

Gold Plummets 24% from Record High as Rate Hikes and Dollar Rally Erode Safe-Haven Appeal Spot gold extended its decline on Wednesday, slipping below $4,100 an ounce. This move put bullion near its lowest level in nearly two weeks. The sharp selloff highlights a counterintuitive market reality: even traditional safe havens can come under severe pressure during periods of broad financial stress.Gold Plunges Amid Tech Selloff and Rate Hike Fears A primary catalyst for the recent metal weakness is the deepening selloff across global technology stocks. As AI-driven equities retreat from their peaks, investors who experienced losses in stock markets have increasingly sold gold to raise liquidity. This liquidation of precious metal holdings...