Markets

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...

Kolkata, January 4, 2026 – Bandhan Bank Limited (BSE: 541153 | NSE: BANDHANBNK) reported steady business growth for the quarter ended December 31, 2025, led by a healthy expansion in advances and a continued shift toward retail deposits, even as overall deposit levels moderated sequentially. Key Business Metrics (₹ crore)Particulars Dec 31, 2024 Sep 30, 2025 Dec 31, 2025 YoY (%) QoQ (%)Loans & Advances (On-book + PTC) 1,32,019 1,40,041 1,45,227 10.0 3.7Total Deposits 1,41,002 1,58,075 1,56,723 11.1 -0.9CASA Deposits 44,735 44,211 42,730 -4.5 -3.3Retail Term Deposits 52,063 67,916 70,690 35.8 4.1...

Mumbai, January 4, 2026: Bank of Baroda (BSE: 532134 | NSE: BANKBARODA) on Sunday reported steady business expansion for the quarter ended December 31, 2025, with global business rising 12.22% year-on-year to ₹28.91 trillion, supported by healthy growth in advances and deposits across domestic and international operations. Q3FY26 Business Snapshot As per the bank’s provisional performance update, global advances grew at a faster pace than deposits, reflecting continued credit momentum during the December quarter.ParticularsDec 31, 2024 (Unaudited)Mar 31, 2025 (Audited)Dec 31, 2025 (Provisional)YoY GrowthGlobal Business₹25.76 trillion₹27.02 trillion₹28.91 trillion12.22%Global Deposits₹14.03 trillion₹14.72 trillion₹15.47...

Mumbai, January 3, 2026: IDBI Bank Limited (BSE: 500116 | NSE: IDBI) reported steady growth in its core business metrics for the quarter ended December 31, 2025, with total business increasing 12% year-on-year to ₹5,46,634 crore, driven by higher deposits and advances, as per the bank’s provisional operational update filed with stock exchanges. Key Business Performance (₹ crore)ParticularsDec 31, 2024 (Unaudited)Sep 30, 2025 (Unaudited)Dec 31, 2025 (Provisional)YoY GrowthTotal Business4,89,2455,33,7305,46,63412%Total Deposits2,82,4393,03,5103,07,8289%CASA Deposits1,30,8991,39,0361,35,6304%Net Advances2,06,8072,30,2202,38,80615%Operational Highlights During the third quarter of FY26, net advances stood at ₹2,38,806...

Noida, January 3, 2026: IKIO Technologies Limited (BSE: 543923 | NSE: IKIO) has announced that its wholly owned subsidiary, IKIO Solutions Private Limited, has acquired an 88 percent equity stake in Gravus Tech Private Limited, reinforcing the group’s focus on strengthening its marketing and distribution framework. The acquisition was completed through a share purchase agreement executed on January 2, 2026, following which Gravus Tech has become a subsidiary of IKIO Solutions Private Limited. Transaction Structure and Consideration The acquisition was carried out through a cash transaction, with IKIO Solutions purchasing 8,800 equity shares of Gravus Tech at a face value of ₹10 per share. Key Deal DetailsParticularsDetails...

Mumbai, January 3, 2026 – IIFL Finance Limited (BSE: 532636 | NSE: IIFL) has received a penalty order amounting to ₹15.05 lakh from the GST authorities in Delhi in relation to an alleged tax matter for FY22.The order pertains to alleged non-payment of tax on exempt supplies for the period April 2021 to March 2022. The company received the order on January 2, 2026, and has stated that it intends to file an appeal with the relevant appellate authority within the stipulated timeframe.IIFL Finance has clarified that the penalty does not have any material impact on its financial position, operations, or other business activities. The company continues to operate normally while it pursues appropriate legal remedies against the order...