Markets

Gold Holds Firm as Silver Plummets Rs 1,500 Amid Rising West Asian Tensions Gold prices maintained their steady stance for a second consecutive session on Thursday, holding firm at Rs 1,46,300 per 10 grams in the national capital. The yellow metal, traded at 99.9 per cent purity, showed resilience despite fluctuating global cues as reported by the All India Sarafa Association.In contrast, silver faced significant downward pressure, sliding Rs 1,500 to hit an over two-week low of Rs 2,24,500 per kilogram (inclusive of all taxes). This follows Wednesday's closing level of Rs 2,26,000 per kg as the white metal continues its bearish trajectory.Silver Hits Multi-Week Low Amid Profit Booking Silver prices have now declined for the fourth...

Sensex, Nifty 50 Face Volatile Seesaw as Selling Pressure Wipes Out Early Gains Indian benchmark indices exhibited significant volatility during the session on July 16, ultimately closing in a flat zone after an early morning rally. While the market opened with positive momentum supported by buying interest in IT and select heavyweight stocks, selling pressure intensified in the second half of the day.The Sensex ended the session up a marginal 1.44 points at 77,186.87. Meanwhile, the Nifty was down 5.75 points, or 0.02 percent, closing at 24,072.75. This movement highlights a day where gains were quickly erased as profit booking outweighed initial buying enthusiasm.Global Market Cues and Semiconductor Selloff Impacts The domestic...

Wall Street Giants Slashed Headcount Amid Record Profits as AI and Efficiency Drive Aggressive Job Cuts Wall Street's largest financial institutions are undergoing a massive workforce contraction despite reporting a blowout quarter fueled by a surge in trading activity.Data reveals that the biggest US banks saw their total headcount fall by more than 10,000 during the second quarter. This represents the most significant quarterly decrease in data dating back to early 2020.While the industry saw a widespread purge of positions, JPMorgan Chase & Co. remained the sole outlier among the major lenders, as its employee count actually inched up during the period from the end of the first quarter.Strategic Cost Cutting and Record...

ICICI Prudential Life Insurance Announces Dividend Distribution for FY2026 ICICI Prudential Life Insurance Company Limited has initiated the distribution of dividends for the financial year 2026, following shareholder approval during the Annual General Meeting held on June 30, 2026. The company confirmed that the dividend was approved at a rate of ₹ 1.65 per equity share, which carries a face value of ₹ 10 each.The eligibility for this dividend was determined based on the record date established as June 5, 2026. Shareholders who held equity shares as of the close of business on that date are entitled to receive the payment. The company has coordinated with KFin Technologies Limited, the Registrar and Share Transfer Agent, to...

Jindal Photo Limited Approves Delisting Proposal Following Board Review Jindal Photo Limited has received approval from its Board of Directors to proceed with a voluntary delisting proposal for its equity shares. The decision follows a comprehensive review of due diligence reports and share capital audits conducted in July 2026.The board meeting held on July 16, 2026, saw the consideration of a Due Diligence Report submitted by M/s Bhumika & Co. Additionally, the board took on record a Reconciliation of Share Capital Audit Report for the six-month period ending July 15, 2026.Delisting Offer Valuation and Proposal Details The Board acknowledged a letter from Saffron Capital Advisors Private Limited, the Manager to the Offer, which...

Harmony Capital Services Ltd Announces Acquisition of Truvolt Engineering Co Private Limited via Share Swap Harmony Capital Services Ltd has announced a significant strategic expansion following the approval by its Board of Directors to acquire a controlling interest in Truvolt Engineering Co Private Limited. The transaction, structured as a share swap arrangement, will result in Truvolt Engineering Co Private Limited becoming a subsidiary of Harmony Capital Services Ltd.The acquisition involves the purchase of 63,23,700 equity shares, which represents approximately 51% of the paid-up equity share capital of the target company. To facilitate this transaction, the company approved the issuance and allotment of up to 1,26,47,400 equity...

GRE Renew Enertech Ltd Secures New Orders Worth ₹2.39 Crore in Fortnightly Business Update GRE Renew Enertech Ltd has announced the receipt of new orders aggregating to ₹23,99,74,407 during the period from July 1, 2026, to July 15, 2026. These contracts were secured in the ordinary course of the company's business operations and contribute to a growing order book.Following these new acquisitions, the aggregate value of the company's order book stands at approximately ₹248 Crore as of the reporting date. The orders involve Turnkey EPC (Engineering, Procurement, Construction, Testing, and Commissioning) contracts for solar power plants.Detailed Order Breakdown The company secured three specific contracts from domestic entities for the...

5paisa Capital Reports Rs. 88.4 Crore Income for Q1FY27, Profit Up 8% Quarter-on-Quarter 5paisa Capital Limited has reported its financial results for the quarter ended June 30, 2026. The company recorded a consolidated income of Rs. 88.4 crore, representing a 3% increase compared to the previous quarter. Profit after tax stood at Rs. 11.6 crore, marking an 8% growth on a quarter-on-quarter basis.The company's financial performance highlights for the period ending June 30, 2026, are detailed below:ItemQuarter ended June 30, 2026Quarter ended March 31, 2026Q-o-QQuarter ended June 30, 2025Y-o-YIncomeRs. 88.4 CroreRs. 85.5 Crore3%Rs. 77.8 Crore14%Profit before taxRs. 15.5 CroreRs. 14.5 Crore7%Rs. 15.5 Crore-Profit after...

Aditya Spinners Ltd Announces Annual Book Closure and Record Date for 34th Annual General Meeting Aditya Spinners Ltd has announced the closure of its Register of Members and Share Transfer Books to facilitate the conduct of its 34th Annual General Meeting. The company has scheduled the closure period from August 11, 2026, to August 17, 2026, including both dates.The closure ensures that the register remains closed for the specific purpose of organizing the annual meeting proceedings. To determine eligibility for shareholders to attend and vote at the upcoming AGM, the company has established a designated record date of August 10, 2026.The following table outlines the key dates for the annual general meeting proceedings...

Adani Enterprises Subsidiary to Acquire Full Ownership of Flight Simulation Solutions Private Limited Adani Enterprises Limited has announced that its wholly-owned subsidiary, Adani Defence Systems & Technologies Limited (ADSTL), has entered into a Share Purchase Agreement to acquire the remaining 44.6% stake in Flight Simulation Solutions Private Limited (FSSPL).The transaction involves ADSTL acquiring the remaining ownership from existing shareholders of FSSPL, where it currently holds a 55.40% stake. Upon completion of this acquisition, ADSTL will hold a 100% stake in FSSPL, making it a wholly-owned subsidiary.This strategic move will also impact the ownership structure of Flight Simulation Technique Centre Private Limited...

Cyient Ltd Completes Buyback of 64 Lakh Equity Shares Cyient Limited has successfully completed the extinguishment of 64,00,000 equity shares through a tender offer route. The company acquired these shares at a price of INR 1,125 per equity share, amounting to an aggregate consideration of INR 720,00,00,000 (Indian Rupees Seven Hundred Crores).The buyback process involved the cancellation and destruction of the acquired shares in dematerialized form. According to company records, the total number of equity shares outstanding has decreased following this transaction.Share Capital Impact The reduction in the company's equity share capital is detailed in the table below:Equity share capital before the extinguishment (Number of...

Muthoot Capital Services Ltd Reports Q1 FY27 Financial Results Muthoot Capital Services Limited, a Non-Banking Finance Company (NBFC) promoted by the Muthoot Pappachan Group and registered with the Reserve Bank of India, has released its investor presentation for the quarter ended June 30, 2026. The report highlights the company's portfolio performance, asset quality, and operational growth across various segments including two-wheelers and commercial vehicles.Portfolio Growth and Product Distribution The company reported a total Assets Under Management (AUM) of ₹ 3,378.69 Cr for Q1 FY27, representing a marginal decline of 1.88% compared to the previous quarter's ₹ 3,443.37 Cr. The portfolio yield remains stable at 20.80%.The...

Muthoot Capital Services Limited Announces Board Appointments and New Tax Auditor Muthoot Capital Services Limited has announced significant changes to its management and audit framework following a Board of Directors meeting held on July 16, 2026. The company confirmed the appointment of a new Independent Director, the re-appointment of an existing Independent Director, and the selection of a firm to serve as the Tax Auditor for the upcoming financial year.Leadership Appointments The Board has approved the appointment of Ms. Manimekhalai A as a Non-Executive Independent Director. Ms. Manimekhalai A brings over three decades of experience in India's public sector banking industry. She previously served as the Managing Director and CEO...

IndusInd Bank Appoints M/s. Chokshi & Muzumdar as Joint Statutory Auditors for FY 2026-27 IndusInd Bank has confirmed the re-appointment of M/s. Chokshi & Muzumdar, Chartered Accountants (FRN: 101569W), as the Joint Statutory Auditors of the bank for the financial year 2026-27.The appointment follows a recommendation from the Board of Directors and has received approval from the Reserve Bank of India (RBI). This appointment aligns with the Guidelines for Appointment of Statutory Central Auditors (SCAs)/ Statutory Auditors (SAs) of Commercial Banks, UCBs, and NBFCs issued by the RBI.The firm will serve as the Joint Statutory Auditors for the upcoming financial year based on the following tenure details:Auditor FirmRoleTenure...

Lemon Tree Hotels Ltd Terminates Agreement for Erode Property Due to Material Breach Lemon Tree Hotels Limited has terminated the License Agreement and associated addendum regarding its property, Lemon Tree Hotel, located in Erode, Tamil Nadu. The termination follows a breach of terms within the Hotel Operating Agreement (HOA) between the property owner and the operator.The agreement dated September 08, 2022, involved the Company, Hotel Le Jardin as the Owner, and M/s. Carnation Hotels Private Limited as the Operator. The property in question consists of 65 rooms. The company issued a termination letter to the Owner on July 16, 2026, citing a material breach of the HOA terms.The termination of these agreements is scheduled to become...

RHI Magnesita India Limited Announces Incorporation of Joint Venture Entity RHI Magnesita India Limited has confirmed the successful incorporation of a new private limited company, RHIM KHEMKA MINPRO PRIVATE LIMITED. The entity was officially incorporated on July 16, 2026, in India.The newly formed company is established as a joint venture and will operate within the refractories industry. Its primary business scope includes bundling industrial minerals and conducting refractory recycling activities.RHI Magnesita India Limited maintains full ownership of the entity at the time of incorporation. The company holds 100% of the shares, with plans for Khemka to subscribe to a 49% shareholding in a subsequent step.The financial details...

State Bank of India Announces Offer Price and Details for SBI Funds Management Limited IPO State Bank of India has announced that the offer price for the Initial Public Offering (IPO) of its subsidiary, SBI Funds Management Limited (SBIFM), has been determined at Rs. 574.00 per Equity Share.The offering includes an employee discount of Rs. 54.00 per Equity Share, which is available to Eligible Employees under the terms and conditions specified in the Red Herring Prospectus (RHP) and its subsequent addendum.Transaction Overview The IPO involves a book-building process for the issuance of equity shares. State Bank of India is proposing to sell 99,501,649 Equity Shares, representing 4.8851% of the paid-up equity share capital of SBIFM...

Diamond Power Infrastructure Limited Secures Rs. 185 Crore Conductor Supply Order from Adani Energy Solutions Diamond Power Infrastructure Limited (DPIL) has announced the receipt of a Contract Confirmation and Letter of Award (LOA) from Adani Energy Solutions Limited (AESL). The order pertains to the supply of AL59 aluminium alloy conductors for two significant transmission projects.The scope of the contract includes the design, engineering, manufacturing, assembly, testing, packing, dispatch, and transportation of conductors on a Delivery at Place (DAP) basis. The order covers 1,050 Km of AL59 Moose Conductor for the Tuticorin Project and 3,770 Km of AL59 Zebra Conductor for the Pune-III Project.Contract Financials and TermsThe...

Avience Biomedicals Limited Announces Audited Financial Results for FY Ended March 31, 2026 Avience Biomedicals Limited has announced its audited standalone and consolidated financial results for the fiscal year ended March 31, 2026. The company's Board of Directors approved the financial statements during a meeting held on July 16, 2026.The statutory auditors, Haribhakti & Co LLP, issued an unmodified audit opinion on the audited financial statements for the year ended March 31, 2026. The report confirms that the financial results provide a true and fair view of the company's financial position and performance in conformity with applicable accounting standards and principles generally accepted in India.Financial Performance...

Tech Mahindra and Wipro Dominate Earnings Spotlight as Maruti Suzuki Challenges Consumer Order Market participants are closely monitoring a heavy-hitting lineup of corporate results today, headlined by major players like Tech Mahindra and Wipro. The trading floor expects significant volatility as investors digest year-on-year growth metrics across the IT and industrial sectors.High-Impact Earnings Today and Tomorrow A massive cluster of quarterly reports is expected today from marquee names including Reliance Industries, JSW Steel, Tata Technologies, and Havells India. Key financial institutions like Federal Bank and RBL Bank are also reporting figures today to provide a pulse on the banking sector.The spotlight shifts to the...