Markets

Mumbai, January 8, 2026 (IST): The public issue of secured, redeemable non-convertible debentures (NCDs) by Adani Enterprises Limited has entered its final day of bidding today, with investor response remaining strong up to the close of subscriptions on January 7, 2026. As of 5:00 PM IST on Wednesday, the issue was subscribed nearly five times, led by heavy participation from corporate and non-institutional investors, while retail and high net-worth individual segments also showed steady traction. Overall Subscription Status (As on January 7, 2026)ParticularsDetailsTotal Issue Size50,00,000 NCDsTotal Bids Received2,41,78,786 NCDsOverall Subscription4.84xSeries-Wise Cumulative Demand (BSE + NSE)SeriesQuantity Bid...

Weaker Dollar and Falling Crude Prices Lift Sentiment The Indian rupee appreciated 26 paise to 89.92 against the US dollar in early trade on Wednesday, supported by a softer greenback and a sharp decline in global crude oil prices.At the interbank foreign exchange market, the domestic currency opened at 90.20 against the US dollar and steadily strengthened through the session to touch 89.92, marking a notable intraday gain from its previous close.Rupee Extends Recovery After Snapping Losing Streak The latest uptick builds on Tuesday’s recovery, when the rupee ended a four day losing streak by rising 12 paise to settle at 90.18 against the American currency. The early momentum on Wednesday reflects improved sentiment amid easing...

Venezuela’s stock market witnessed an extraordinary surge on Tuesday as the benchmark IBC Index jumped 50 percent in a single trading session, extending a sharp rally triggered by dramatic political developments over the weekend. The move came after a United States led attack resulted in the arrest of long standing President Nicolas Maduro, an event that investors interpreted as a potential inflection point for the country’s political and economic direction.Sharp Gains in Early January Trading Tuesday’s jump followed a 16 percent rise on Monday and capped a series of strong advances that began late last month. On December 29, the index climbed 22 percent, followed by another 7 percent gain on January 2 when trading resumed after the...

Gold prices ease in domestic futures trade Gold prices declined in the domestic futures market on Wednesday, January 7, as traders booked profits amid a rise in the US dollar. The pullback came after a strong rally in the yellow metal, even as underlying demand remained supported by global uncertainties and expectations of interest rate cuts in the United States.On the Multi Commodity Exchange, February gold futures were trading 0.17 percent lower at ₹1,38,850 per 10 grams around 9:10 am. Silver prices, however, showed mild strength, with March futures rising 0.19 percent to ₹2,59,310 per kg during the same period.Global cues weigh on sentiment Internationally, gold prices also edged lower as a stronger dollar prompted profit...

Bengaluru, January 7, 2026: Grand Continent Hotels Limited (NSE: GCHOTELS) reported steady operational momentum at the close of the third quarter of FY26, supported by an accelerated expansion pipeline, new hotel launches, and improving portfolio scale across domestic and international markets. The hospitality company completed the nine-month period ended December 31, 2025, with continued focus on network growth, capacity additions, and operational efficiency, reflecting its asset-light and franchise-led growth strategy. Expansion Momentum: 8 New Signings Across India and Overseas During the December 2025 quarter, Grand Continent Hotels executed a total of eight hotel signings, aggregating approximately 805 keys, spanning India, the...

US private equity major TPG is expected to enter India’s expanding capital markets and wealth management space through a strategic investment in IIFL Capital. The proposed transaction is likely to involve the acquisition of a minimum 20 percent stake, with discussions currently underway on multiple deal structures.TPG has initiated due diligence on IIFL Capital as part of the ongoing negotiations. Queries sent to both parties did not elicit responses at the time of publication.Deal Structure and Stake Sale As part of the proposed transaction, TPG is understood to be evaluating the acquisition of some or all of the stake held by Canadian investment firm Fairfax. Fairfax holds a combined 27 percent stake in IIFL Capital through FIH...

Thrissur, January 7, 2026: Kalyan Jewellers India Limited (NSE: KALYANKJIL) reported a robust operating performance for the quarter ended December 31, 2025, delivering consolidated revenue growth of approximately 42% year-on-year in Q3 FY26, supported by strong festive demand, healthy same-store sales growth, and rapid expansion across domestic and international markets. Strong Festive-Led Performance in India The company’s India operations recorded revenue growth of around 42% YoY during the quarter, driven primarily by strong festive demand. Management highlighted that demand momentum remained resilient even in the post-Diwali period, despite volatility in gold prices. Growth during the quarter was broad-based across both plain gold...

Precious Metals Advance on Heightened Geopolitical Tensions Gold and silver prices moved higher on Tuesday across domestic and international futures markets, supported by rising demand for safe-haven assets amid intensifying political developments in Venezuela and growing geopolitical frictions involving the United States and several Latin American nations.MCX Gold and Silver Futures Register Firm Gains On the Multi Commodity Exchange, gold futures for February delivery climbed Rs 445, or 0.32 percent, to Rs 1,38,565 per 10 grams, with a turnover of 14,949 lots.Silver futures also posted a strong advance. The March contract surged Rs 3,715, or 1.51 percent, to Rs 2,49,870 per kilogram, recording a business volume of 12,105 lots...

Benchmark Indices Open Lower Indian equity benchmarks opened on a weak note on Tuesday, with the Sensex and Nifty slipping in early trade as heavy selling in select blue-chip stocks weighed on market sentiment. Fresh concerns around the possibility of higher US tariffs on India added to the cautious tone.The 30-share Sensex declined 431.95 points to 85,007.67 in early deals, while the Nifty fell 105.6 points to trade at 26,144.70.Blue-Chips Drag Markets Lower Among Sensex constituents, Trent tumbled over 7 percent despite reporting a 17 percent year-on-year growth in standalone revenue to Rs 5,220 crore for the December quarter.Other stocks that remained under pressure included Reliance Industries, Tata Motors Passenger Vehicles...

Dollar Weakness and Lower Crude Prices Support Rupee The Indian rupee strengthened by 18 paise to 90.12 against the US dollar in early trade on Tuesday, January 6, supported by a softer US dollar and a decline in global crude oil prices.At the interbank foreign exchange market, the rupee opened at 90.22 against the greenback and moved higher to 90.12, marking a sharp recovery from its previous close.Tariff Remarks and Equity Weakness Limit Upside Despite the early gains, the rupee’s upside remained capped due to remarks on tariffs by US President Donald Trump, continued foreign fund outflows, and weak sentiment in domestic equity markets.In the previous session on Monday, the rupee had extended its losing streak for a fourth...

Kolkata, January 5, 2026: Ddev Plastiks Industries Limited (BSE: 543547 | NSE: DDEVPLSTIK) has approved its entry into the Battery Energy Storage System (BESS) segment, marking a strategic diversification into the renewable energy value chain. The move positions the company to participate in India’s rapidly evolving clean energy and grid-stability ecosystem. Strategic Entry Into Energy Storage The company plans to launch a multi-phase BESS manufacturing programme aimed at serving utility-scale projects, commercial and industrial users, and residential applications. Energy storage is increasingly becoming a critical enabler for renewable power integration, particularly for managing intermittency from solar and wind sources. Phase 1...

Mumbai, January 5, 2026: Suraj Estate Developers Limited (NSE: SURAJEST, BSE: 544054) has reported strong early traction from its flagship commercial development Suraj One Business Bay, recording gross bookings of ₹200 crore within 45 days of launch.The project, launched in mid-November 2025, has achieved sales of around 40,000 square feet, translating into approximately 17 percent of the project’s estimated gross development value of ₹1,200 crore. The early momentum underscores sustained demand for ownership-led Grade A office spaces in South Central Mumbai.Project Scale and Design Highlights Suraj One Business Bay is being developed on a freehold land parcel of about 0.75 acres and offers a total saleable area of 2.09 lakh square...

Benchmarks Open Lower on Monday Indian equity benchmarks open the week on a weaker note, with the BSE Sensex and NSE Nifty declining in early trade on Monday, January 5. The pressure comes largely from selling in heavyweight information technology stocks.The Sensex slips 125.96 points to trade at 85,636.05 in early deals, while the Nifty declines 30.95 points to 26,297.60.IT Heavyweights Drag the Indices Among the 30 Sensex constituents, technology majors remain the key laggards. Shares of HCL Technologies, Infosys, Tech Mahindra, and Tata Consultancy Services trade lower in early sessions. Banking heavyweight HDFC Bank and power major NTPC also add to the downside.On the positive side, select stocks provide some support. Bharat...

Remarks Highlight Trade Pressure and Energy Disputes US President Donald Trump has indicated that Washington could move quickly to raise tariffs on India, linking the warning to New Delhi’s purchases of Russian oil. Speaking to reporters on Sunday aboard Air Force One while returning to Washington DC from Florida, Trump said Prime Minister Narendra Modi was aware of his dissatisfaction on the issue.Trump described Modi in positive terms but underlined that trade tools remain available. He said India wanted to maintain goodwill with Washington, adding that tariffs could be raised very quickly and that such a move would be damaging for New Delhi.Tariffs and Russian Oil in Focus The comments followed remarks by US Senator Lindsey...

Early Trade Sees Pressure on Rupee The Indian rupee opened on a weaker note on Monday and declined by 4 paise to 90.24 against the US dollar in early trade, weighed down by heightened geopolitical uncertainty that strengthened demand for the American currency.At the interbank foreign exchange market, the rupee began the session at 90.21 against the dollar and moved lower to 90.24 in initial deals.Geopolitical Developments Impact Currency Sentiment Market participants pointed to global developments following a US military operation in Venezuela, which led to the removal of President Nicolas Maduro. US President Donald Trump stated that the United States would take control of the South American nation and utilise its oil reserves for...

Larsen & Toubro’s Chief Financial Officer R Shankar Raman expects government capital expenditure to rise by around 10 percent in the Union Budget for FY27, underlining the continued policy focus on infrastructure-led growth.No Crowding Out Concerns Despite High Public Spending Addressing concerns around weak private sector capital expenditure, Raman said he does not see a risk of public spending crowding out private investment. According to him, ample liquidity in the financial system should support both government and private sector investments simultaneously.He reiterated that infrastructure development remains central to India’s long-term growth ambitions, especially as the country works towards becoming a developed economy by...

Entry Luxury Segment Sees Sharper Shift Toward ICE Vehicles Electric vehicle penetration in India’s luxury car segment has declined by nearly 3 percentage points in the GST 2.0 era, as internal combustion engine models now offer a more favourable total cost of ownership. Industry executives note that while the trend is visible across segments, the impact is most pronounced in the entry luxury category, where the price gap between EVs and ICE vehicles has widened under the revised tax structure.According to industry players, EV penetration across both mass market and luxury segments fell by around 2 to 3 percentage points during October and November 2025. The shift is largely attributed to improved cost economics for ICE vehicles...

Imports Rise Sharply in November India’s coal imports rose sharply in November, increasing 28.1 percent year on year to 25.07 million tonnes, compared with 19.57 million tonnes in the same month last year. The data reflects a notable jump in inbound shipments during the month.Import Mix: Coking and Non-Coking Coal Non-coking coal imports stood at 14.28 million tonnes in November, higher than 12.32 million tonnes imported in the corresponding month of the previous fiscal year. Coking coal imports increased to 6.51 million tonnes, up from 4.25 million tonnes recorded in the same month last year.April to November Imports Edge Higher During the April to November period of the current financial year, coal imports rose to 186.16 million...

FPIs Pull Out ₹7,608 Crore in First Two Trading Sessions of January Foreign portfolio investors have started 2026 on a cautious footing, extending the selling trend seen last year. In the first two trading sessions of January, FPIs withdrew ₹7,608 crore, or USD 846 million, from Indian equities.The early-year outflow follows a sharp withdrawal of ₹1.66 lakh crore, or USD 18.9 billion, recorded during 2025. The heavy selling last year was linked to volatile currency movements, global trade-related uncertainties, concerns over potential US tariffs, and elevated market valuations.Rupee Depreciation Adds to Market Pressure Sustained selling by foreign investors played a significant role in the nearly 5 percent depreciation of the Indian...

Bengaluru, January 4, 2026: Ujjivan Small Finance Bank Limited (NSE: UJJIVANSFB, BSE: 542904) reported steady business momentum in the third quarter of FY26, marked by strong growth in deposits, continued expansion in the loan book, healthy disbursement activity, and improving asset quality. Deposits Growth Remains Robust The bank’s total deposits stood at ₹42,219 crore as of December 31, 2025, registering a 22.2% year-on-year growth compared with ₹34,494 crore a year ago. On a sequential basis, deposits increased 7.5% quarter-on-quarter from ₹39,211 crore. CASA deposits rose sharply to ₹11,533 crore, up 33.1% YoY, while growing 7.0% QoQ. The CASA ratio improved to 27.3%, reflecting a stronger liability mix. The credit-deposit ratio...