Markets

Rashi Peripherals Affirms Stock Price Movements Are Market Driven Rashi Peripherals Ltd has clarified its position regarding recent movements in the price of its securities, stating that the stock performance is purely market driven and influenced by prevailing market conditions.The company asserted that management holds no control over these price changes. As far as the company is aware, there is no material event or unpublished price sensitive information that requires disclosure and could affect the volume or price movement of its shares.While the Board of Directors continually evaluates potential acquisition and investment opportunities, any proposal that is approved following due diligence is duly disclosed in accordance with...

Rajesh Exports Surges as Rally Continues, Overcoming SEBI Scrutiny Amid Revenue Allegations Shares of Rajesh Exports continued their remarkable ascent on Friday, hitting the 5% upper circuit at Rs 97.51. This powerful surge has seen the stock extend gains by nearly 28% over the last five trading sessions. The rally signals a significant recovery for the company following intense regulatory pressure and recent low points.Stock Recovery Against Regulatory Pressure The sustained upward momentum positions Rajesh Exports dramatically better than its recent lows. The company is now trading only about 11% below the closing level it held prior to the Securities and Exchange Board of India (SEBI) interim order. Last week, a series of losing...

Bitcoin Plummets as Stronger Dollar and Slow ETF Flows Dampen Crypto Sentiment Bitcoin's price dipped significantly in early trading on June 19, settling near $62,608. This represents a 2.54 percent decline over the last 24 hours. Subdued institutional demand amid expectations of restrictive monetary policy continues to weigh heavily on market sentiment across the cryptocurrency space.Macro Headwinds and Market Sentiment The strengthening US dollar index (DXY) has been identified as a significant headwind for risk assets like Bitcoin. As crypto often moves inversely to the DXY, this macroeconomic pressure is intensifying the case for crypto bears. Piyush Walke, Derivatives Research Analyst at Delta Exchange, noted that Bitcoin's...

Saurashtra Cement Appoints Ms. Sonali Sanas as CEO of Paints Division Saurashtra Cement Limited has appointed Ms. Sonali Sanas as Chief Executive Officer (CEO) for its Paints Division, following the resignation of Mr. Surender Bhatia from the post. The Board of Directors approved the appointment on June 18, 2026.Ms. Sanas is set to assume the role effective August 16, 2026. To ensure a smooth transition, she will continue in her capacity as CEO (Designate) for the company during this period. The company confirmed that efforts are underway to find replacements for her other existing senior leadership positions within the organization.Ms. Sanas possesses over 26 years of diverse leadership experience and is an integral part of...

Japan and South Korea Stocks Surge to Record High as Geopolitical Thaw Pushes Oil Lower Asian equity markets rallied sharply on Friday, with shares in Japan and South Korea reaching record highs. This surge was fueled by optimism surrounding peace developments in the Middle East. The resumption of oil flows through the Strait of Hormuz helped ease inflation concerns globally.Japan's Nikkei gained 0.8%, marking its fifth consecutive session at a new record high, extending its weekly gain to 8.5%. South Korea saw a robust jump of 3.1%, contributing significantly to its impressive weekly rise of 15.3%.Global Markets Surge as Strait of Hormuz Reopens Oil tanker traffic has resumed through the Strait of Hormuz. This occurred after the...

Tech Slowdown Hits IT Majors as VA Tech Wabag Soars on Major Order Win Corporate Developments Drive Stock Volatility Market sentiment remains highly reactive to specific corporate announcements and strategic decisions. Investors are actively reacting to developments such as fundraising plans, stake sales, and operational updates across various sectors. This news-driven volatility is expected to persist as companies unveil important milestones or face headwinds.IT majors in particular faced significant pressure following the announcement from a major client. HCL Technologies saw its share price decline by between 4 to 8 percent. This drop occurred after Accenture cut its revenue growth guidance and flagged a weaker demand environment...

Aurobindo Pharma Stock Surges Over 1.5% on FTC Clearance of Lannett Acquisition Aurobindo Pharma shares saw a significant jump in early trading on Friday, rising over 1.5% after the company announced crucial regulatory approval for a major acquisition. The stock climbed as high as 1.53%, settling at ₹1,465.80 on the NSE following the news.The gain was fueled by confirmation that the US Federal Trade Commission (FTC) has cleared the transaction involving Aurobindo Pharma USA Inc., a wholly owned subsidiary of the company. This approval concerns the purchase of Lannett Company LLC from LANNETT SELLER HOLDCO, INC.Securing Regulatory Approval for Strategic M&A The clearance provides a powerful strategic lift to Aurobindo Pharma. The...

Goldman Sachs Slashes Gold Target by $500 as Fed Rate Cut Hopes Dim following Hawkish Signals Re-evaluating Bullishness: Why Goldman Sachs Revised its Gold Outlook Goldman Sachs has significantly tempered its forecast for the price of gold, reducing its year-end target by $500 an ounce. This downward adjustment stems from a shift in market expectations regarding Federal Reserve rate reductions. The bank’s economists now do not anticipate the Fed cutting rates this year.The revised target set by Goldman Sachs is $4,900 per ounce for December. Despite the reduction, analysts Lina Thomas and Daan Struyven maintain that gold is still expected to gain ground in the second half of the year. However, their outlook remains "tactically...

Meta Seeks $4 Billion Stake in Cred to Master India's Hyper-Competitive Payments Battle Meta, the parent company of Facebook, is reportedly positioning itself to acquire a stake in prominent Indian fintech startup Cred. Sources reveal that discussions have been underway regarding an investment into Cred, valuing the payments and finance platform at $4 billion (equivalent to ₹38,000 crore). This valuation represents a modest increase from its prior marked-down valuation of $3.5 billion set in 2025, but it remains significantly lower than the $6.4 billion commanded during Cred's last major funding round in 2022.The tech giant is evaluating multiple entry points into the Indian fintech landscape. Beyond providing primary capital, Meta...

IT Sell-Off Triggers Major Correction as Sensex Plummets 750 Points; Nifty Trades Near 23,950 Market Declines Amid Technology Sector Concerns The market experienced a sharp downturn on Friday, snapping the winning streak of five consecutive sessions. Both benchmark indices registered losses, with the Information Technology sector being a primary driver of the decline. Sentiment was significantly weighed down following a weak interpretation of Accenture's earnings outlook.The Nifty 50 shed 0.73%, trading at 23,991.2. Meanwhile, the Sensex dropped 0.72%, settling at 76,852.86. This pullback marks a notable correction across major Indian equities.Technology Sector Suffer Heavy Selling Pressure Indian IT stocks faced intense selling...

Dollar Strength Pushes Rupee Down: Forex Markets Brace for Test Despite Strong Flows and RBI Intervention Talk The Indian rupee experienced a slight decline at the open on June 19, trading at 94.35 against the US dollar. This movement was weighed down by a strengthening dollar following the Federal Reserve’s consistently hawkish commentary. The currency pair saw a minor slip of two paise from its previous session close of 94.33.Global Monetary Policy and Rupee Stability The US Federal Reserve opted to maintain interest rates steady, keeping them between 3.50 percent and 3.75 percent. Despite this pause, the overall message delivered by policymakers remained hawkish. Nearly half of the committee members still expect at least one more...

ONGC Set to Surge India's Strategic Oil Reserves as Nation Aims for Critical Energy Buffer The government has directed the Oil and Natural Gas Corporation (ONGC) to undertake a critical mandate: constructing India's next strategic petroleum reserve (SPR). This move comes as a direct response to geopolitical volatility, particularly following the recent Iran war crisis. The new facility is intended to significantly strengthen the country's energy security cushions.The proposed underground storage cavern in Mangaluru will be managed by ONGC and is earmarked to hold 1.75 million metric tonnes (MMT) of crude. This project, which sources indicate will cost close to ₹5,000 crore to build, represents a major step toward bolstering national...

Nearly 70% of Large-Cap Investment Flows Shift Passive as India’s ₹15 Lakh Crore Asset Boom Reshapes Market Strategy Passive investing has evolved rapidly in the Indian market, moving far beyond simple Nifty or Sensex index funds. The segment is now a major force, with assets in passive products approaching ₹15 lakh crore and accounting for nearly one-fifth of the mutual fund industry's total assets. This boom reflects a maturing investor base that now accesses diverse tools, from smart-beta strategies to sectoral and thematic ETFs.Pratik Oswal, Chief of Passive Business at Motilal Oswal AMC, states that this shift is driven by multiple factors, positioning passive investing as one of the fastest-growing areas in finance. The movement...

Infosys, TCS Plunge as IT Sector Sinks 6% Following Tense Accenture Guidance Cut The Indian Information Technology (IT) sector experienced severe selling pressure on Friday, with key indices plummeting following concerning guidance cuts from major global clients. The Nifty IT index fell over six percent, reflecting widespread nervousness regarding the demand outlook and future growth trajectory of the industry.This sharp decline made the sectoral index the worst performer across all markets tracked during the session. The pre-market sentiment was heavily influenced by news surrounding Accenture's guidance adjustment, raising significant questions about immediate revenue expectations for IT service providers.Nifty IT Plummets Amid...

Gold and Silver Slip as Hawkish Fed Signals Rate Hike Potential, Fueling Dollar Surge Precious metals faced a sell-off in early trading on June 19th. The weakness was primarily driven by the strength of the U.S. dollar and the Federal Reserve’s hawkish comments following its decision to hold interest rates steady. These developments heightened expectations that monetary policy may tighten further down the line, putting pressure on non-yielding assets.International spot gold dipped 1.24 percent to $4,193.20 per ounce, while silver saw a notable decline of 2.52 percent, settling at $64.65 per ounce in early Comex trading. Domestically, the Tuesday session concluded with gold finishing at Rs 1,47,677 per 10 grams of 24-karat purity...

VA Tech Wabag Secures 'Mega' SWRO Project in Kuwait, Marking Maiden Entry into GCC Market Chennai: VA Tech Wabag Limited (WABAG), a leading multinational water technology group, has secured the Design, Build, Operate (DBO) contract for the Doha SWRO Desalination Plant with Recarbonation System - Stage II in Kuwait. This significant order marks WABAG's first entry into the Kuwaiti market and further strengthens its presence across the GCC region.The project is being undertaken on behalf of the Ministry of Electricity, Water & Renewable Energy (MEWRE) in Kuwait. WABAG will execute this landmark venture through an unincorporated Joint Venture (JV), alongside Heavy Engineering Industries & Shipbuilding Company K.S.C. (HEISCO), serving as...

Accenture Report Card Sparks Buzz: How Global Tech Giant's Assessment Will Reshape India's IT Landscape Assessing the Verdict: What Accenture's Review Means for Indian IT Giants Accenture’s assessment of the global technology sector is receiving intense scrutiny across Indian financial markets. This report card, issued by one of the world's leading consulting firms, provides a critical pulse check on the health and trajectory of multinational corporations operating out of India. The reception to Accenture’s verdict varies, reflecting the diverse strengths and challenges within the domestic IT industry.The tone set by Accenture carries significant weight for Indian IT companies. A positive report could signal continued global...

Infosys, Wipro ADRs Plummet as Accenture Slashes Guidance Over West Asia Headwinds Indian technology stocks are poised for a challenging start despite signs of resilience in broader market indices. The overnight volatility and sharp sell-off seen in US-listed Indian IT companies have reignited concerns over the pace of spending recovery in the technology sector. This sentiment follows Accenture's steep guidance cut, which pointed to macroeconomic softness and regional instability as key drags on future growth.Accenture shares dropped significantly, plunging nearly 18 percent overnight after the global IT services firm reduced its revenue growth forecast for fiscal year 2026. The guidance reduction was attributed primarily to a weaker...

Aurobindo Pharma Secures FTC Approval for Acquisition of Lannett Business Aurobindo Pharma Ltd has announced that it has obtained the necessary approval from the US Federal Trade Commission (FTC) regarding the acquisition of the Lannett business by its subsidiary.The approval marks a significant milestone in the deal where Aurobindo Pharma USA Inc., a wholly owned subsidiary of the Company, is set to acquire 100% of the membership interest in Lannett Company LLC. The transaction involves LANNETT SELLER HOLDCO, INC as the seller.Aurobindo Pharma has stated that it anticipates the entire acquisition transaction will conclude before the end of the current month. The company plans to keep relevant parties informed regarding any future...

Elpro International Acquires Equity in Vedanta Aluminium Metal Ltd Elpro International Limited has acquired equity shares in Vedanta Aluminium Metal Limited, marking an investment in the aluminium sector. The acquisition was completed via cash consideration at a cost of INR 4.62 Crores.Vedanta Aluminium Metal Limited is recognized as one of the world's top aluminium producers and India's largest producer of aluminium. The company serves discerning customers across more than 60 countries, leveraging deep expertise in metal production and value-addition. In FY25, Vedanta produced over half of India's aluminium at 2.42 million tonnes.The acquisition by Elpro International was categorized as an investment and is related to the general...