Markets

Crest Ventures Limited Receives 'No Adverse Observations' from BSE and NSE regarding Scheme of Arrangement Crest Ventures Limited (CVL) has received positive observations from both the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE) concerning its ongoing Scheme of Arrangement with Crest Capital and Investment Limited (CCIL). The approvals mark a significant step toward advancing the corporate restructuring plan.The company confirmed that it received the 'No adverse observations' letter from BSE and the 'No objection' letter from NSE on July 20, 2026. These regulatory clearances are set to facilitate the next stage of the scheme.The Scheme of Arrangement involves Crest Ventures Limited (CVL), designated as...

United Spirits Reports Q1 FY27 Results; Net Sales Rise 6.0% Amid Segment Divergence Bengaluru, India - July 22, 2026: United Spirits Ltd., a prominent beverage alcohol company in India, announced its unaudited standalone results for the first quarter of fiscal year 2027 (Q1FY27), noting double-digit growth in its Prestige & Above segment.The company reported Net Sales at INR2,703 Crores, marking a 6.0% increase year-on-year. The Prestige & Above (P&A) segment saw a strong performance, achieving an NSV of INR2,478 Cr., up 10.1%. Meanwhile, the Popular segment’s Net Sales were INR206 Cr., representing a decline of 17.5%. EBITDA stood at INR432 Cr., which was a 4.1% rise, resulting in an EBITDA margin of 16.0%. Profit After Tax (PAT)...

Waaree Renewable Technologies Reports Strong Q1 FY27 Results; Revenue Jumps 53.23% YoY Waaree Renewable Technologies Limited (WRTL), a leading player in the EPC and Transmission and Distribution (T&D) space within the clean energy sector, reported unaudited financial results for the quarter ended June 30, 2026. The company demonstrated consistent growth, driven by strong execution across its portfolio, with revenue from operations reaching Rs. 924.25 crores in Q1 FY27.WRTL is an integral part of the Waaree Group and focuses on spearheading the Solar EPC business. In addition to its core renewable energy EPC services, the company is expanding its presence into adjacent segments, including T&D and Battery Energy Storage Systems (BESS)...

MPS to Hold Creditors Meeting as ADI BPO Services is proposed for Amalgamation into MPS MPS Limited has announced the schedule for convening a meeting of its Unsecured Creditors regarding the proposed Scheme of Amalgamation between ADI BPO Services Limited and MPS Limited. The meeting is set for Saturday, August 22, 2026, to consider and, if deemed fit, approve the Scheme.The amalgamation involves consolidating the businesses of ADI BPO and MPS into a single entity. The scheme aims to simplify the management structure and rationalize the shareholding pattern within the corporate group, thereby enabling future growth and operational efficiencies for the merged company.Key Details of the Amalgamation ADI BPO Services Limited (the...

Sensex and Nifty Suffer Sharp Plunge as Global Markets Grapple with West Asia Conflict and Soaring Crude Prices Benchmark Indices Fall Amid Geopolitical Tensions and Rising Oil Costs India's stock markets registered a clear downturn on Wednesday, driven by the escalating conflict in West Asia and sharp increases in crude oil prices. This combination triggered fresh selling activity across major indices.The BSE Sensex finished down 715.06 points, marking a decline of 0.92%. It closed at 76,755.05. The NSE Nifty 50 also slipped, declining by 191.45 points or 0.79%, settling at 23,996.25. This drop meant the benchmark index fell below the significant 24,000 psychological level.Midcap and Sector Indices See Losses The downturn was...

IndusInd Bank Surges on Profit Boom as Stocks Navigate Volatility Amid Sector Results Market Under Pressure as Nifty Sits Below Key Support Levels Indian markets ended on a subdued note, continuing to experience pressure despite specific positive developments across various sectors. The broader benchmark index experienced weakness following weak global cues and persistent geopolitical concerns.Technically, the Nifty has slipped below the immediate support level of 24,000. Analysts suggest that in the near term, investors should anticipate a retest within the 23,650–23,800 zone. On the other hand, the region between 24,150 and 24,300 is widely expected to act as stiff resistance for any sustained rebound.Despite the caution in the...

Market Plummets as FIIs Offload Shares Worth ₹819 Crore Amid Geopolitical Tensions and Oil Price Surge The Indian equity markets faced a challenging session, extending their fall for the third consecutive day. The downturn was heavily influenced by rising global oil prices and persistent geopolitical tensions in the Middle East. While foreign institutional investors (FIIs) recorded a net outflow of ₹819.20 crore on Wednesday, domestic institutions provided some counterbalancing support to the broader market.The Nifty 50 index closed at 23,996, marking a decline of 191 points or 0.79 percent. Similarly, the BSE Sensex ended at 76,755, shedding 715 points (0.92 percent). Broader indices were also under pressure, with the Nifty Midcap...

Generic Drug Tariff Scare Sinks Pharma Stocks: Nifty Index Falls Amid Trump's 100% Import Tariff Threat Pharmaceutical Sector Reels as Trump’s Proposed Tariffs Send Shockwaves Shares across the Indian pharmaceutical sector experienced a downturn on Wednesday following statements made by US President Donald Trump. The concerns stemmed from his proposal that generic drugs imported into the United States would face steep tariffs, starting at 100% in August 2028 and doubling in subsequent years. This announcement immediately spooked investors who heavily rely on international trade streams.The Nifty Pharma index registered a decline of 1.3% by market close. Simultaneously, the broader benchmark Nifty 50 also dipped, falling by 0.8%...

Indo-MIM IPO Set for July 23 Open: Global Investors Commit ₹1,141 Crore in Anchor Book Amid High Growth Trajectory Indo-MIM, a leader in precision engineering components manufacturing, is preparing to launch its significant initial public offering (IPO) on July 23. The company has successfully raised Rs 1,141 crore through the anchor book process, ahead of the IPO which will run from July 23 to July 27.The total offer size stands at Rs 3,812 crore. The IPO pricing mechanism is set within a band of Rs 461 to Rs 485 per share, positioning the company valuation at nearly Rs 24,000 crore.Anchor Book Success Signals Global Confidence in Indo-MIM The anchor book saw strong interest from market participants, with 92 anchor investors...

MPS Limited Shareholders Convened for Meeting Regarding Amalgamation of ADI BPO Services Limited MPS Limited is scheduled to convene a meeting of its equity shareholders to consider the proposed amalgamation of ADI BPO Services Limited with the company. The meeting is being held in compliance with the directions issued by the National Company Law Tribunal (NCLT), Chennai Bench, following an order dated 02 July 2026.The purpose of the shareholder meeting is to consider and, if thought fit, approve the proposed Amalgamation Scheme. This proposal involves the amalgamation of ADI BPO Services Limited with MPS Limited, as stipulated under Sections 230 to 232 of the Companies Act, 2013.The meeting, which will take place through Video...

Indo-MIM Set to Conquer Global Market with Specialized Components, But Investors Must Assess Raw Material Risks Indo-MIM, a leading precision engineering components manufacturer, is set to debut via an Initial Public Offering (IPO) designed to fund expansion and repay debt. The company plans to raise ₹500 crore through a fresh issue, supplemented by an offer for sale raising ₹3,312 crore. This move comes as the firm seeks to solidify its position in highly specialized global markets.The IPO will see the promoter group's stake reduce from 92.9% to 77.7%. The company provides comprehensive end-to-end solutions across its client base, which includes automotive, defence, medical, consumer, and aerospace sectors.Mastering Precision...

Bank Profits Soar as Tech Jumps Over 189%; Energy Sector Reels Amid Massive Volatility The financial markets witnessed a highly divergent day as corporate earnings revealed extremes across sectors. While fintech and software giants reported spectacular surges in profits, leading to massive investor enthusiasm, segments like energy commodities faced intense pressure due to volatile market conditions. Investors are keeping a close watch on key stocks that showed dramatic performance swings today.Banking and Financial Services Earnings Take Flight The banking sector provided powerful positive momentum as several financial institutions announced robust quarterly results. IndusInd Bank reported a strong 46.5% surge in profit, reaching...

Goldman Sachs Recommends Catch-Up Rally in India as Markets Eye Diversification Away from Tech Concentration Global asset allocators are increasingly focusing on India amidst ongoing portfolio diversification trends, according to Sunil Koul of Goldman Sachs. While international markets grapple with volatility across technology and AI sectors, there is a growing narrative arguing for the recovery of laggard markets, positioning India as a key beneficiary.Koul noted that firms are receiving more requests regarding calls and meetings on India in recent weeks compared to the previous three to six months. This interest stems from the resilience shown by both the Indian economy and corporate earnings growth. Recent RBI measures have...

S&P 500, Nasdaq Close Mixed as Tech Investors Await Earnings Amid Geopolitical Oil Surge The S&P 500 and Nasdaq closed lower on Wednesday as investors navigated a complex market environment dominated by anticipation for major technology earnings. The indexes saw uneven trading following months of gains that had lifted them from their March lows.Market Performance and Sectoral Trends Preliminary data showed the S&P 500 closing down 10.72 points, or 0.14%, at 7,498.48 points. The Nasdaq Composite also declined, losing 145.48 points, or 0.56%, to settling at 25,691.72. In contrast, the Dow Jones Industrial Average managed to climb by 1.52 points to 52,226.16.The performance revealed a divergence within technology sectors. While...

Asian Chipmakers Surge on AI Buildout Bets as Global Tensions Drive Oil Rally Asian equities saw a strong performance today, driven by optimism surrounding the massive investment pouring into artificial intelligence infrastructure. Regional chipmakers advanced significantly, positioning themselves as key beneficiaries of the global AI buildout. MSCI’s Asia Pacific equities gauge climbed 0.8%, while South Korea’s Kospi — viewed as a barometer for AI investments — saw gains exceeding 3%.Megacap Earnings Pressure and the AI Investment Race The focus is heavily shifting onto how effectively companies are translating billions invested into tangible returns. Alphabet Inc., the first US megacap tech company to report earnings, slid more than...

Brink's Company Acquires NCR Atleos Corporation in Strategic Move to Dominate Indian Cash Management Market The Brink's Company has officially approved the acquisition of NCR Atleos Corporation through a combination filing under Section 311. This strategic move marks a significant consolidation within the global cash and valuables management and financial technology sector. The proposed transaction involves the Acquirer absorbing 100% of the equity share capital of the Target.Understanding the Proposed Transaction Structure The Acquirer, The Brink's Company, is a major global player operating in over 100 countries. Their core business includes providing cash and valuables management, digital retail solutions, and ATM managed services...

Global Cash Management Leader The Brink's Acquires NCR Atleos for 100% Control in Strategic Technology Grab New Delhi: The Commission has officially approved a significant strategic move in the financial technology space as The Brink's Company agrees to acquire 100% of the equity share capital of NCR Atleos Corporation. This landmark combination signifies a major consolidation, ensuring that the targeted entity will be wholly owned and controlled by The Brink's Company upon completion.The acquisition combines global cash management expertise with specialized fintech capabilities. As a result, this deal strengthens the market position of both entities in digital retail solutions and ATM managed services globally.Strategic...

Indian Economy Sustains Resilience as RBI Bulletin Highlights Surge in Sectoral Strength Amid Global Instability The Reserve Bank of India (RBI) has released its July 2026 edition of the monthly Bulletin, providing a comprehensive assessment of the nation's economic trajectory. The specialized article, titled "State of the Economy," details how domestic resilience is counteracting mounting external pressures. This publication highlights significant stability in core sectors despite ongoing global uncertainty.Navigating Global Headwinds with Domestic Strength The global economy continues to grapple with heightened uncertainties stemming from fragile geopolitical tensions and persistent supply chain pressures. Against this volatile...

Mahindra Holidays & Resorts Reports Q1 FY27 Results: Consolidated Revenue Climbs 5% as Premiumization Drives Sales Growth Mahindra Holidays & Resorts India Ltd. reported its unaudited standalone and consolidated financial results for the first quarter of fiscal year 2027, ending June 30, 2026. The company, a leading leisure hospitality provider in India, announced that sales value saw a substantial increase, driven primarily by premiumization initiatives and membership upgrades across its network.The Q1 FY27 results highlight strong performance in the resort business, which registered double-digit revenue growth alongside maintaining healthy occupancy levels.Operational and Financial Highlights Key operational metrics from the...

Kalind Ltd. Board Approves Strategy to Raise Up To USD 65 Million Through Various Securities Kalind Ltd has approved a strategy allowing it to raise funds through various permitted instruments and investment avenues. The decision was made following the company's board meeting, granting flexibility in how the capital infusion will be managed.The Board of Directors sanctioned raising funds for an amount not exceeding USD 65 Million (US Dollar 650,00,000). This fundraising initiative allows the company to structure the investment using multiple instruments and methods across one or more tranches.The approved instruments are comprehensive, covering various forms of capital generation. These include equity shares issuance, convertible...