Markets

Deccan Transcon, PS Raj Steels Surge as Momentum Stocks Breakout Amid Market Caution In a session characterized by quiet, stock-specific rallies rather than broad market triggers, several companies demonstrated powerful upward momentum on July 24. These selected stocks, driven by technical breakouts and strong price action, are trading well above key short- to medium-term moving averages. The movements highlight the persistent difference between trend following and overall market sentiment.Key Stocks Drive Upward Momentum Deccan Transcon Leasing saw a significant surge, climbing nearly 16% to ₹25.90. The stock continues to trade above its 30-day, 50-day, and 150-day simple moving averages (SMAs). While the move indicates improving...

Rushil Decor Ltd Notes Unwillingness of Statutory Auditors for Second Term Appointment Rushil Decor Limited has announced that M/s Pankaj R. Shah, Chartered Accountants, existing Statutory Auditors of the company, have shown unwillingness to be appointed as their statutory auditors for a second term.The decision by the firm was conveyed via a letter dated July 23, 2026.M/s Pankaj R. Shah & Associates were initially appointed as the statutory auditors of Rushil Decor Limited following a shareholders' resolution on September 27, 2021, for a term of five years. They completed their statutory audit for the year ended March 31, 2026, and issued their reports on May 29, 2026.Regarding the approach for a second consecutive term of five...

Panacea Biotec Subsidiary Receives Show Cause Notice Over Alleged Input Tax Credit Claim Panacea Biotec Limited's wholly owned subsidiary, Panacea Biotec Pharma Limited (PBPL), has received a Show Cause Notice (SCN) related to tax liability following an alleged excess claim of Input Tax Credit (ITC). The notice was issued by the Assistant Commissioner, Goods and Services Tax (GST), Delhi.The SCN was dated July 23, 2026, pertaining to the Financial Year 2022-23.According to details provided, the GST authority has alleged a total tax liability of ₹4.06 Crore. This amount includes components for tax, interest, and penalty. The breakdown is as follows:ComponentAmount (₹)Tax Liability2.27 CroreInterest1.56 CrorePenalty0.23...

Treasury Urges Bank of Japan to Hike Rates Amid 40-Year Low Yen Slump The U.S. Treasury Department has strongly encouraged the Bank of Japan (BOJ) to continue its monetary policy tightening. The department stressed that further normalization is crucial to anchor inflation expectations and curb excessive volatility in the yen, as noted by a recent report released on Thursday.Yen's Steep Decline Reaches 40-Year Low The Japanese currency recently hit a significant milestone, falling to a 40-year low against the U.S. dollar on Thursday. This rapid decline has heightened concerns among investors regarding potential intervention by Japanese authorities.The Treasury Department reported that the yen has experienced a massive fall of 51%...

Indian Metals Secures Licenses for Greenfield Ferro Chrome Expansion Project in Kalinganagar Indian Metals & Ferro Alloys Limited has secured key operational clearances for its greenfield ferro chrome expansion project in Kalinganagar. The company confirmed that it has obtained both the Consent to Operate (CTO) and the necessary Factory License for the expansion initiative, designated as KNR 1.The acquisition of these permits allows Indian Metals & Ferro Alloys Limited to move forward with the initial stages of the project. Company officials stated that steps will be initiated next week to begin the process of switching on the first furnace at the facility.Looking ahead, the company provided a timeline for its production milestone...

Sensex Plunges Over 700 Points as Geopolitical Tensions and Soaring Oil Prices Ignite Massive Market Selloff The Indian stock markets experienced severe losses for the fifth consecutive session, driven by a perfect storm of geopolitical instability, rising global commodity prices, and persistent foreign investor selling. The Sensex dropped over 700 points to settle at 75,700, while the Nifty 50 tumbled 223 points to 23,700 during Friday’s trading session.The dramatic selloff wiped off more than Rs 3 lakh crore from the total market capitalisation of all companies listed on BSE, pushing it down to Rs 473 lakh crore. All 30 constituents of the Sensex traded in the red, with UltraTech Cement, IndiGo, and Bharti Airtel among those...

Suryoday Small Finance Bank Soars 9% as Q1 Profit More Than Doubles Amid Mixed Sector Results The market remains sharply focused on individual stock performance following the recent release of quarterly earnings results. Investors are tracking a diverse set of corporate actions, ranging from major profits in specialized sectors to revenue growth outpacing profit margins across tech and aviation giants. These company-specific developments are expected to drive targeted stock movement during ongoing trading sessions.Banking Sector Reacts: Suryoday Bank Rises on Doubled ProfitsSuryoday Small Finance Bank saw a strong surge, advancing 9% after reporting exceptional Q1 results. The bank's profit more than doubled, achieving ₹75.2 crore...

Precious Metals Tumble! Oil Surge above $100 Sparks Rate Fears, Pushing Gold Down Rs 3,500 Gold and silver have continued their descent for a second straight session on the MCX following significant global economic shifts. The decline is primarily attributed to Brent crude oil crossing the $100 mark, intensifying inflation worries globally. This trend reinforces expectations that interest rates may remain elevated for an extended period, reducing the immediate appeal of non-yielding precious metals.Precious Metals Plunge as Crude Oil Reaches Key Levels In the domestic market, gold futures fell by Rs 3,500 over two consecutive sessions, reaching Rs 1,42,208 per 10 grams for the August 2026 delivery contract. Silver futures were also...

Teja Engineering Reports Strong FY26 Performance; Net Profit Grows by 55.66% Teja Engineering Industries Limited, a rapidly growing provider of engineering services to the energy infrastructure sector, has announced its Standalone Audited financial results for Fiscal Year 2026 (FY26). The company reported significant growth across its key metrics, with net profit rising by 55.66% and total income seeing a substantial increase.The company's performance highlights underscore continued expansion within the energy infrastructure sector. In FY26, Teja Engineering recorded a Total Income of ₹78.31 Cr and a Net Profit of ₹6.25 Cr. These figures show considerable growth compared to the previous fiscal year (FY25).Key financial metrics for...

South Korean Tech Giants Plunge as AI Spending Concerns Clash with $100+ Oil Shock The South Korean stock market faced significant selling pressure on Friday, with benchmark indices retreating more than 5%. The downturn was driven by deep-seated concerns over slowing AI spending from major U.S. technology firms and the sudden spike in oil prices above the $100 mark per barrel.The KOSPI ended down 386.33 points, marking a decline of 5.44% to settle at 6,710.56 as of 0246 GMT. The sharp drop prompted a temporary sidecar trading curb on the market, halting programme trading for a period.KOSPI Slumps Amid AI Chip Vulnerability Chipmakers and technology stocks bore the brunt of the negativity. Samsung Electronics saw its shares slide by...

L&T Heavy Engineering Secures Multiple International Orders Across Africa, Asia, and Americas L&T Heavy Engineering, the hi-tech manufacturing arm of Larsen & Toubro, has secured a series of international orders spanning diverse global markets including Asia, Africa, North America, South America, and Europe. These contracts reinforce the company’s standing as a leader in process plant equipment on a global scale.The business recently won significant projects from Dangote Group, described as Africa's largest industrial conglomerate. The orders pertain to a mega refinery and multi-train fertilizer expansion in Nigeria and Ethiopia. The scope of work includes providing critical process equipment such as the world’s largest Fluid...

Infosys Plunges as Q1 Miss and Guidance Cut Ignite Market Jitters; Stock Falls Nearly 2% Infosys Ltd saw a sharp decline in early trading on Friday, emerging as the top loser among the Nifty 50 stocks. The IT giant's shares dropped by 1.99 percent to reach Rs 1,026.6, driven by weaker-than-anticipated fiscal first quarter earnings and a significant reduction in its FY27 revenue growth guidance. This performance has led several brokerage firms to adopt a more cautious stance on the stock.The broader market witnessed a sluggish session as all sectoral indices traded in the red. The Sensex declined 621.45 points, or 0.81 percent, settling at 75,769.94. Concurrently, the Nifty experienced a dip of 173.15 points (0.73 percent), closing the...

Lohia Corp IPO Alert: Why this Global Machinery Leader is set for a Major Growth Surge Geojit Financial Services has issued a 'Subscribe' rating on the upcoming Initial Public Offering (IPO) of Lohia Corp Ltd. The recommendation targets investors with a medium- to long-term investment horizon, citing the company’s robust market position and favorable industry outlook. Lohia Corp is positioned as a key player in the technical textiles sector, offering comprehensive solutions across the entire woven fabric value chain.Dominance in Technical Textiles Machinery Market Lohia Corp Ltd (LCL) stands out as a premier global manufacturer of machinery and equipment specifically designed for the technical textiles industry. The company...

Rupee Plummets Towards Record Low as Brent Crude Surges past $100 Amid Global Tensions Currency Weakens as Oil Prices Breach Key $100 Mark The Indian rupee opened weaker on July 24, trading at ₹96.63 against the dollar. This slip followed a rise in Brent crude prices that crossed the $100 per barrel mark after a two-month period. The surge immediately rekindled concerns regarding the nation's import bill and the widening current account deficit.The local currency is currently testing its limits, just about 30 paise away from touching the record low of ₹96.98 per dollar. This movement marks a significant depreciation in the market. Previously, the rupee crossed the Rs 96.50 per dollar level back in May when Brent crude prices had...

Grand Continent Hotels Enters Memorandum of Understanding to Develop Hotel in Vrindavan Grand Continent Hotels Limited (GCH) has formalized a Memorandum of Understanding (MOU) with M/s Shri Girraj Maharaj Hospitality, setting the stage for the development and operation of a new hotel facility in Vrindavan, Uttar Pradesh.The partnership focuses on transitioning from the MOU phase to a definitive lease or revenue share agreement. Grand Continent Hotels Limited is set to operate the property under the brand name 'Grand Continent Premier'.M/s Shri Girraj Maharaj Hospitality, which is registered under the Partnership Act, will be collaborating with GCH to secure the rights to operate the property located at A-4 Rukmani Vihar, Chhatikara...

Fineotex Reports Strong Q1 FY27 Results; Total Income Jumps 164% Mumbai, July 23, 2026: Fineotex Chemical Limited, a leading multinational specialty performance chemical manufacturer, announced its unaudited financial results for the first quarter of Fiscal Year 2026-2027. The Company reported robust growth across key metrics in Q1 FY27, driven by operational efficiencies and strategic integrations.The consolidated financial performance highlights significant increases in revenue and profitability for the period ending June 30, 2026.Particulars (₹ Cr.)Q1 FY27Q1 FY26YoY %Q4 FY26QoQ %Total Income386.72146.22164.48323.1919.66EBITDA59.1425.20134.6943.6935.37PAT48.2125.0392.6743.7910.07The Company noted that Total Income...

Crude Oil Poised for Massive Weekly Surge Amid Geopolitical Crisis; Gold Falls as Dollar Strengthens Global Energy Prices Rally on Supply Concerns Commodity markets demonstrated significant volatility on July 24. Geopolitical instability has bolstered crude oil, setting the commodity sector up for expected weekly gains. Meanwhile, precious metals faced headwinds amid strengthening U.S. dollar and rising Treasury yields.Oil prices were particularly boosted by escalating geopolitical tensions in the Red Sea involving Houthi attacks targeting oil tankers. This heightened uncertainty created concerns regarding potential supply disruptions globally. Furthermore, Kazakhstan temporarily reduced its production following the shutdown of a main...

Automobile Corporation of Goa Ltd. Schedules Board Meeting to Approve Q1 Financial Results Automobile Corporation of Goa Ltd. announced plans for a Board meeting to consider and approve the Audited Financial Results for its first quarter ended June 30, 2026. The company also communicated details regarding the status of its insider trading window.The Board of Directors Meeting is scheduled to take place on Wednesday, August 5, 2026. During this meeting, the directors are expected to review and approve the Audited Financial Results for the quarter ending June 30, 2026, along with the accompanying Reports of the Auditors.In addition to the board scheduling, Automobile Corporation of Goa Ltd. confirmed that its designated persons have...

Organon Shareholder Approval Achieved for Sun Pharma's Proposed Acquisition Sun Pharmaceutical Industries Limited has announced that shareholders of Organon & Co. have approved the proposals related to the previously announced merger transaction. This approval marks a significant milestone toward the completion of the proposed acquisition.The shareholder consent confirms that Organon is expected to become a wholly owned subsidiary of Sun Pharmaceutical Holdings USA, Inc., which operates as an indirect wholly owned subsidiary of Sun Pharma. The successful shareholder approval keeps the acquisition process moving forward, though the transaction remains subject to customary closing conditions and applicable regulatory approvals. For...

ICICI Bank Issues USD 1 Billion Senior Unsecured Fixed Rate Notes under Global Medium Term Note Programme ICICI Bank Limited, operating through its IFSC Banking Unit, has successfully priced and issued USD 1 billion worth of Senior Unsecured Fixed Rate Notes. This issuance forms part of the Bank's larger USD 7.5 billion Global Medium Term Note Programme. The pricing was completed on July 24, 2026.The newly issued Notes are denominated in US dollars (USD) and are unsecured. The net proceeds generated from the issue of these Notes are designated for the Issuer's general corporate purposes, consistent with relevant guidelines.Key Transaction Details A comprehensive look at the terms and structure of the Notes is provided below...