Markets

Purple Finance Targets Inorganic Growth with Proposed Acquisition of Saksham Gram Credit Pvt Ltd. BSE-listed non-banking financial company (NBFC) Purple Finance Limited has announced plans to accelerate its growth through inorganic expansion, announcing the in-principle approval for the acquisition of Saksham Gram Credit Private Limited. This move is set to mark a significant entry for Purple Finance into rural and semi-rural markets.The Board of Directors accorded approval for the proposed acquisition of Saksham Gram Credit Private Limited as a 100% wholly owned subsidiary, subject to due diligence and regulatory approvals. The strategic purchase aims to build capabilities and expand the company's network structure.Purple Finance...

Veefin Solutions Ltd Board Meeting Scheduled for July 24, Set to Discuss Debt Securities Issuance Veefin Solutions Limited has scheduled a meeting of its Board of Directors set to take place on Friday, July 24, 2026. The primary agenda item for the meeting includes considering and approving the raising of funds through the issuance of debt securities via private placement.The board meeting is slated to consider the issuance of debt securities in one or more tranches or series based on a private placement model, subject to any requisite approvals needed by law. Any other actionable matters related to this matter will also be addressed during the session.In relation to insider trading protocols, the trading window for all directors...

Neetu Yoshi Secures Purchase Order from South East Central Railway for Bogie Component Supply Neetu Yoshi Ltd has secured a significant purchase order from the South East Central Railway, establishing a contract for the manufacture and supply of specialized bogie components. The domestic transaction involves supplying Centre Pivot Top for CASNUB 22 HS (Mod-I) Bogie to RDSO.The order represents a material contract award for Neetu Yoshi Ltd. The services involve the manufacture and subsequent supply of the specified component to the Railway entity.Key details regarding the contract are summarized below:DetailInformationClient EntitySouth East Central Railway (Domestic)Nature of ContractPurchase Order for Centre Pivot Top...

SEBI Mandates Freeze on Promoter Holdings During Buybacks: Key Rules and Implications Explained New Regulations Target Promoter Holdings During Corporate Actions The Securities and Exchange Board of India (SEBI) has introduced significant new regulations concerning the freezing of promoter group holdings during a company's buyback period. These directives are aimed at enhancing transparency and fairness surrounding corporate actions related to stock repurchase programs.Under the revised guidelines, depositories have been instructed to enforce the freeze on promoter and promoter group holdings specifically at the security level for the duration of the buyback. This measure comes into effect once a company's board or shareholders...

Asian Tech Rally Surges: Chip Stocks Rebound as AI Demand Intensifies; Oil Climbs Amid Geopolitical Tensions Asian equities extended their ascent for a second consecutive day, driven primarily by chipmakers that form the core of the artificial intelligence boom. The renewed momentum signals strong underlying demand for technology components following previous volatility in the sector.Semiconductor Sector Reacts to Rising AI Demand The optimism is palpable across regional markets. MSCI’s Asia Pacific equities gauge rose 1.2%, marking the largest one-day gain in a month. South Korea’s Kospi, often seen as a bellwether for AI investments, jumped more than 5%. A key semiconductor gauge also surged by 5.2%, indicating renewed confidence...

Iykot Hitech Toolroom Ltd Updates Board Composition with Key Appointments and Director Resignations Iykot Hitech Toolroom Ltd has undertaken significant changes in its board structure following a meeting held on July 21, 2026. The company announced the appointment of three new Additional Directors while simultaneously taking note of several resignations from Non-Executive Independent Directors. The Board meeting also concluded with the reconstitution of various directorial committees.The company welcomed Mr. Vaibhav Agarwal and Mr. Rajesh Chunilal Bhojani as additional directors, alongside the appointment of Mr. Arjun Bikas Dutta to the board. This move brings new expertise across financial services and compliance to the management...

Bandhan Bank Profits Surge 35% as Markets Track Key Earnings and Strategic Shifts in Tech to Retail Giants Key Financial Performances: Banking and Consumer Staples Shine The market focus remains heavily concentrated on corporate earnings releases. Bank stocks saw strong performances with Bandhan Bank reporting a significant Q1 surge, posting a 35% profit increase to ₹501.7 crore from ₹372 crore. The bank's Net interest income rose by 5.9%, reaching ₹2,920.6 crore versus ₹2,757.2 crore. Furthermore, provisions and contingencies experienced a sharp 40.5% plunge, down to ₹682.6 crore from ₹1,146.9 crore.Indian Hotels Company also demonstrated robust performance in its Q1 (Consolidated YoY). The company saw profit grow by 20.8% to reach...

Rupee Rallies as Forex Inflows Surge; Currency Climbs Amid Lower Oil Prices The Indian rupee strengthened on Tuesday, climbing by 21 paise to close at 96.24 against the US dollar. This recovery was supported by continued steady foreign currency inflows and tempering demand for the dollar due to lower oil prices.The stability was further reinforced by revelations from the Reserve Bank of India (RBI) concerning dedicated programs aimed at drawing durable forex inflows. These focused initiatives have reportedly garnered nearly $21 billion, bolstering investor sentiment toward the domestic currency.Forex Inflows Drive Rupee Strength The movement in the rupee reflected a shift in market focus away from commodity-driven dollar demand...

SBI Funds Soars on Debut Day as Mutual Fund Giant Breaches Market Benchmark Strong Stock Debut Signals Investor Confidence in Financial Sector SBI Funds Management, a powerhouse in India's asset management industry, made a robust debut on the stock market. The company's shares saw significant appreciation after its listing on the NSE on Tuesday. SBI Funds opened at ₹613.30, achieving a premium of 6.85% over its initial public offering (IPO) price of ₹574 per share.The fund house closed at ₹610.15 on the NSE, marking a solid gain of 6.30%. This performance highlights strong investor appetite for established financial players entering the capital markets. At the closing bell, SBI Funds' market capitalization stood at an impressive ₹1.24...

Chip Stocks Surge: U.S. Indexes Rally Despite Tariffs, As Investors Pivot to Major Tech Earnings Ahead of AI Battle Wall Street indexes concluded higher on Tuesday, fueled by a sharp rebound in semiconductor stocks. This rally provided strong support for the major U.S. stock indices as investors increasingly shifted focus toward crucial technology earnings reports concerning the future of the Artificial Intelligence (AI) trade. The turnaround in chip shares offered relief to the market, allowing investors to look beyond Middle East tensions and ongoing tariff disputes.Semiconductor Recovery Drives Broad Market Gains The Philadelphia SE Semiconductor Index saw a significant rally, marking its second consecutive advance. This surge came...

FIIs Surge Back as Net Buyers After Consecutive Sell-offs; Sensex, Nifty Trade in Tight Range Foreign Institutional Investors (FIIs) decisively returned as net buyers on July 21, injecting significant capital into Indian equities. The sector witnessed a marked shift from prior selling streaks, while Domestic Institutional Investors (DIIs) turned sellers for the day, marking a period of instability across institutional flows.The market traded within a narrow range for the second consecutive session, reflecting an ongoing lack of directional conviction regarding major index movements. Nifty closed at 24,188, and Sensex ended at 77,470.Foreign and Domestic Investor Trends Reversal FIIs managed a net inflow of Rs 1,650.16 crore on...

Adani Energy Solutions Surges 124% as Markets Digest Mixed Banking Results and Major Corporate Announcements Market Holds Above Crucial Support Amid Earnings Buzz The Indian markets witnessed a volatile session on Tuesday, eventually ending marginally higher. Investors navigated a mixed global backdrop while processing encouraging financial results from several major companies across different sectors. The Nifty index continues to consolidate within its prevailing range, maintaining a firm stand above the critical 24,000 support zone. Analysts suggest this range-bound trend is likely to persist given the varied performance seen in key heavyweight sectors like banking and IT services.Banking Sector Performance Highlights and Future...

FIIs Stage Strong Rebound as Geopolitical Calm Ignites Market; Consumer Services Lead Sectoral Inflows Foreign portfolio investors (FPIs) registered a robust net buying performance across sectors in the first half of July, marking a strong comeback for overseas capital. NSDL data indicates that this inflow marks a second consecutive fortnight of sustained purchases and represents the strongest such purchase since early February.The trend is fueled partly by eased geopolitical concerns following the Middle East ceasefire, which contributed to a decline in energy prices. Pankaj Pandey, head of fundamental research at ICICI Direct, noted that foreign investors have turned buyers directly after these calming market developments.Consumer...

Chipmakers Drive Global Tech Rally as Asia Stocks Climb Amid Rising Oil and US-Iran Tension Stocks across Asia continued their upward trend for a second consecutive day, driven by the resilience shown in chip manufacturers central to the artificial intelligence boom. This rally provided crucial support despite rising oil prices stemming from renewed escalation concerns surrounding the US-Iran conflict.The MSCI Asia Pacific Index advanced 0.8%, marking its strongest one-day gain in a month. The Kospi Index, recognized as a bellwether for AI investments, saw a jump exceeding 5%. These regional gains followed a stellar performance by the Nasdaq 100, which reported its best session in three weeks after a key semiconductor gauge surged...

Ganga Forging Limited Finalizes Rights Issue Allotment; Paid-up Equity Capital Increases Ganga Forging Limited (GFL) announced the successful completion of the allotment for its rights issue shares, marking a significant increase in the company’s paid-up equity capital. The board of directors approved the allotment on July 21, 2026, based on applications received under the pre-approved Rights Issue structure.The Company allotted 20,22,03,345 fully paid-up Equity Shares to eligible shareholders at an issue price of Rs 1.63 per Rights Equity Share. The allotment was executed against a total reception of valid applications for 24,20,39,870 equity shares.The rights issue offered up to 20,22,03,345 shares at an issue price of Rs 1.63 per...

Adani Energy Solutions Reports Robust Q1FY27: Operational Revenue Jumps 54%, PAT Increases by 130% YoY Adani Energy Solutions Limited (AESL) reported strong financial performance for the first quarter of the financial year 2027 (Q1FY27), with operational revenue rising 54%. The company registered a record high in EBITDA and a significant rise in profit after tax (PAT).Consolidated financial results showed AESL achieving an operational revenue of Rs 7,116 crore in Q1FY27, compared to Rs 4,618 crore in Q1FY26. Total Operating EBITDA reached Rs 3,178 crore for the quarter, marking a sharp year-on-year increase of 58%. The company also reported PAT of Rs 1,237 crore, representing a 130% YoY growth driven by double-digit EBITDA expansion...

Gabriel India Expands Mobility Portfolio with Strategic Acquisitions in Steering Systems and ADAS Gabriel India Limited is undertaking significant inorganic growth initiatives to transition into an integrated mobility technology enterprise. The company has announced two major strategic moves: the acquisition of a stake in HL Mando Anand, a leading manufacturer of steering systems, and a joint venture (JV) with HL Klemove India, focusing on Advanced Driver Assistance Systems (ADAS) and automotive electronics.These expansions are designed to consolidate Gabriel's position across the entire automotive value chain, enabling it to serve as the primary mobility solutions platform for the Anand Group. Mrs. Anjali Singh, Executive...

Anupam Rasayan India Limited and PAC launch Open Offer for Bliss GVS Pharma Limited Shares at ₹299 per Equity Share Anupam Rasayan India Limited (ARIL), along with its wholly owned subsidiary Mates Visa Consultancy Private Limited (PAC), has launched a mandatory open offer to acquire shares of Bliss GVS Pharma Limited (BGP). The open offer seeks to acquire up to 2,77,26,848 Equity Shares representing 26.00% of the Expanded Voting Share Capital of BGP.The acquisition is being carried out through ARIL and PAC. The maximum consideration for the entire Offer Size stands at ₹ 829,03,27,552.00 (Indian Rupees Eight Hundred Twenty-Nine Crore Three Lakh Twenty-Seven Thousand Five Hundred Fifty-Two only).Open Offer Details The offer price set...

Delhivery Limited Receives GST Order from West Bengal Authority, Confirms Tax and Penalty Demands Delhivery Limited has received an appellate order from the Office of the Joint Commissioner State Tax - West Bengal regarding tax demands pertaining to the financial year 2019-20.The order was dated July 21, 2026, related to Section 73 of the CGST/ West Bengal GST Act, 2017. The demand has been raised consequent to the disallowance of input tax credit against Delhivery Limited.The findings of the Appellate Order confirm specific financial liabilities related to this matter. These include a significant tax demand, an interest demand, and a penalty amount.Financial breakdown of the GST order is as follows:Demand TypeAmount (₹)Tax...

Crisil Limited Announces Q1 and H1 Financial Results, Declares Interim Dividend; Updates Board Composition Crisil Limited announced the Unaudited Standalone and Consolidated Financial Results for the first quarter and half year ended June 30, 2026. The company’s Board of Directors approved these results alongside declaring a second interim dividend for its shareholders. Additionally, the board reviewed significant changes to its composition, noting a resignation and a new appointment.The Board meeting, held on July 21, 2026, confirmed the approval of the financial outcomes for the company. A key decision was the payment of the second interim dividend amounting to Rs. 10/- per equity share, referencing the face value of Re 1 each. This...