Markets

Alpine Texworld Stock Listing Signals Muted Debut as GMP Suggests Flat Market Start Alpine Texworld is set to debut on the stock exchanges, having successfully completed its Rs 126.25-crore initial public offering (IPO). The company's shares will be listed on both the BSE and NSE on Tuesday, July 21, after closing a steady investor interest phase.The grey market premium (GMP) for Alpine Texworld currently stands around 1%, suggesting that the listing is anticipated to be largely flat. Based on the upper price band of Rs 105 per share, the estimated debut price is pegged near Rs 106, pointing towards a subdued market entry for the textile manufacturer.IPO Performance and Investor Interest The public issue was open from July 14 to...

Bitcoin Surges Above $65k as Sustained ETF Inflows Propel Rally; Caution Remains Amid Geopolitical Hurdles Bitcoin managed a significant climb, topping the $65,380 mark in early trade on July 21. The digital asset saw a modest gain of 0.86 percent (as of 08:41 IST), reflecting a robust recovery over the last week and a half. This upward momentum was strongly supported by five consecutive sessions of positive inflows into US spot Bitcoin ETFs, helping cushion the market from its recent lows in June.Current Market Structure and Technical Outlook Crypto analysts suggest that while the surge is notable, it represents consolidation rather than a confirmed breakout at this juncture. Immediate technical support areas are identified between...

Smarten Power Systems Reports Q1 FY27 Business Update, Expands Distribution and Achieves High Battery Production Milestone Smarten Power Systems, an Indian company specializing in power backup and solar energy solutions for residential and commercial customers, reported its business update for the quarter ending 30 June 2026 (Q1 FY2026-27). The quarterly performance highlighted significant developments across sales, manufacturing, distribution network expansion, and infrastructure investment.During the quarter, Smarten Power Systems sold approximately 1.18 lakh units of its product portfolio. Demand was driven by home UPS systems, solar power conditioning units (PCUs), batteries, and solar panels. The company noted increased demand...

SBI Funds Management Set for Double-Digit Surge as Analysts Project 31% Upside from IPO amidst massive institutional interest Before its market debut, SBI Funds Management has received strong bullish coverage from analysts, with brokerage houses Equirus Securities and Emkay Global rating the stock 'Long' and 'Buy,' respectively. Both firms have set target prices—Rs 675 for March 2027 and Rs 750 for June 2027—implying an upside of up to 31% from the IPO issue price of Rs 574 per share.The coverage underscores SBI Funds Management's position as one of India’s most robust asset management franchises, backed by significant scale and the deep distribution network of State Bank of India (SBI). The stock is poised to trade following a...

Glenmark Secures U.S. FDA Approval to Expand RYALTRIS® Use for Pediatric Seasonal Allergic Rhinitis Glenmark Specialty S.A. (Glenmark) has announced that the U.S. Food and Drug Administration (FDA) has approved the expanded use of RYALTRIS® Nasal Spray (olopatadine hydrochloride and mometasone furoate, 665 mcg/25 mcg per spray). The approval extends the treatment option for Seasonal Allergic Rhinitis (SAR) to pediatric patients aged 6 years up to less than 12 years.With this expanded indication, RYALTRIS® is now approved in the United States for adults and pediatric patients who are six years old or older. This advancement targets a younger segment of the pediatric population previously addressed by the medicine.Clinical Basis and...

CDSCO Greenlights India's First Dengue Vaccine: Massive Leap for National Public Health Strategy CDSCO Approves Qdenga®, Marking Milestone in India's Dengue Prevention Efforts In a pivotal moment for Indian public health, the Central Drugs Standard Control Organisation (CDSCO) has granted marketing authorization for the Dengue Tetravalent Vaccine (Live, Attenuated) - Qdenga®. This landmark approval represents the first dengue vaccine authorized in India to combat the rising threat of the disease.The vaccine, manufactured by Takeda GmbH and imported by M/s Takeda Biopharmaceuticals India Pvt. Ltd., has undergone a comprehensive scientific review by the Ministry of Health and Family Welfare. The approval aligns with the provisions of...

ACME Solar Signs 300 MW Wind-Solar Hybrid PPA with SECI ACME Solar Holdings Limited, through its subsidiary ACME Renewtech Fifth Private Limited, has secured a significant renewable energy contract by executing a Power Purchase Agreement (PPA) with the Solar Energy Corporation of India Limited (SECI). The agreement covers a 300 MW Wind-Solar Hybrid project.The PPA outlines the terms for the hybrid power project, which is designated under Hybrid Tranche IX. ACME Renewtech Fifth Private Limited will supply power to SECI over a period of 25 years. Key project specifications include a tariff of Rs. 3.25 per unit.The renewable energy project involves ISTS connectivity and is scheduled for a Scheduled Commencement of Supply Date (SCSD)...

South West Pinnacle reports strong Q1 FY27 results, showcasing 53.5% YoY revenue growth and high order book standing at INR 7,613 Mn South West Pinnacle Exploration Limited (SWP) has released its investor presentation for the first quarter of Fiscal Year 2026-27, highlighting robust financial performance and expanding operational reach across mineral and energy exploration sectors. The company reported significant growth in revenue and profitable metrics, while maintaining a high order book.The company's overall business strength is underpinned by an order book valued at INR 7,613 Mn. This figure represents the highest level achieved by SWP to date.Q1 FY27 Financial Highlights South West Pinnacle reported impressive gains in...

US Offers Tariff Discount as Trump Administration Targets Aluminum Production Boost The Trump administration has introduced a significant incentive program aimed at bolstering domestic aluminum production within the United States. The initiative allows companies that build, expand, or refurbish aluminum plants domestically to receive a substantial tariff discount on the metal imported from abroad.This policy shift involves cutting import tariffs for aluminum by nearly half. Previously imposed at 50%, the duties will be reduced to approximately 25% for those firms that meet the required criteria and gain US approval.Incentivizing Domestic Aluminum Capacity The original imposition of the punitive 50% duty was designed to boost...

Global Bullion Prices Surge as US Inflation Data Supports Gold and Silver Rally Bullion prices saw a marginal but steady surge in early trade on July 21, driven by global market sentiment. International spot gold climbed by 0.62 percent, reaching $4,040.60 per ounce. Meanwhile, silver also advanced, ticking up 1.51 percent to $57.93 per ounce during the morning trading session on Comex.Domestic Gold and Silver Futures Performance The movement in Indian commodity markets reflected a mixed sentiment as futures contracts traded through the week. MCX gold futures for the August contract concluded their Monday (July 20) trade with a modest 0.35 percent increase, finishing at Rs 1,41,398 per 10 grams.In contrast, silver futures saw a...

Marc Technocrats Awarded Project for Patna-Arrah-Sasaram Highway Corridor in Bihar Marc Technocrats Limited (MTL) has secured a new project involving Independent Engineering Services for the construction of the Patna-Arrah-Sasaram corridor in the state of Bihar.The contract was awarded by the National Highways Authority of India (NHAI). The scope of work includes design review, construction supervision, and O&M monitoring for a 4-lane Greenfield highway project on Hybrid Annuity Mode (HAM).Project Details and FinancialsAccording to the details provided in the order award, the contract is valued at 6.00 Crore Rupees excluding GST. The contract falls under the nature of Independent Engineering services and has been awarded by a...

South West Pinnacle Exploration Reports 53% Revenue Growth in Q1 FY27 as Profit After Tax Jumps 287%Haryana: South West Pinnacle Exploration Limited (SWPEL), an integrated service provider specializing in drilling and exploration of natural resources, has announced its financial results for the first quarter of Fiscal Year 2026-27. The company reported a consolidated revenue increase of 53% year on year (YoY) and saw Profit After Tax (PAT) surge by 287% YoY.The robust performance reflects the company's ability to expand its operational footprint and strengthen client relationships despite a challenging business environment marked by substantial increases in input costs, according to management.A detailed look at SWPEL’s financial...

GIFT Nifty Plunges Signals Weak Day for Indian Stocks Amid Middle East Tensions and FII Selling Indian benchmark indices, Sensex and Nifty, are set for a cautious start on Tuesday, with the pre-market indicator, GIFT Nifty, suggesting a potential gap-down session. The primary driver behind investor apprehension remains escalating geopolitical tensions in the Middle East, compounded by sustained foreign institutional selling (FIIs) and persistent concerns over energy price volatility.GIFT Nifty was trading at 24,165 around 8:00 am, marking a decline of 118 points or 0.5 percent. This indicates that the Nifty 50 could open significantly below Monday's close of 24,238.50. Indian equities concluded Monday in the red after heavy selling...

State Intervention Ignites China Tech Market as Record Inflows Flood Chip ETFs Amid Selloff China is rapidly escalating its efforts to stabilize its volatile stock market, directing significant capital through state-linked institutions to counter a tech-driven selloff. This coordinated push signals authorities’ concern over potential broader market confidence issues amidst economic uncertainty. The targeted support for high-growth sectors suggests policymakers are actively deploying an arsenal of state resources to prevent a crisis in AI and semiconductor stocks.Surge in ETF Inflows Signals Targeted State Support The most immediate sign of this intervention came on Monday when the ChinaAMC STAR 50 ETF witnessed record inflows. The...

Deeptech Funding Surge Confirmed in India as VCs Accelerate Bets on Space and AI Tech The trajectory of India's deeptech ecosystem is rapidly defining a critical segment of its burgeoning startup economy. With milestones like Skyroot Aerospace placing India's first privately built rocket into orbit, specialized venture capital firms and generalist investors are increasingly championing frontier technologies. This growth is supported by dedicated deeptech funds and targeted government initiatives, signaling a shift beyond consumer internet success.Early-Stage Activity Fuels Deeptech Momentum Despite overall funding figures showing declines in some categories, the depth of dealmaking in India's deeptech sector remains robust. Venture...

Bank of Baroda Surges with Highest NRO FD Rate Reaching 6.75% as NRIs Seek Max Returns Maximizing Yield: A Comprehensive Look at NRO Fixed Deposit Rates for Non-Residents For Non-Resident Indians (NRIs) earning income within India, the Non-Resident Ordinary (NRO) fixed deposit (FD) presents a vital instrument for parking funds. These deposits are suitable for housing earnings such as dividends, rent from property, or pension payouts. However, while NRO FDs offer competitive interest rates, it is crucial for NRIs to fully understand the associated tax implications in India.Interest accrued on NRO FDs is taxable in India and is subject to Tax Deducted at Source (TDS). To mitigate the overall tax burden, banks encourage NRIs to leverage...

Dollar Soars Amid Gulf Tensions; Markets Battle Volatile Oil Rally and Global Rate Hike Bets The U.S. dollar hovered near a one-week high on Tuesday as global markets wrestled with conflicting reports emanating from the volatile Middle East. Renewed fears concerning energy supply were stoked by escalating hostilities, while hopeful murmurs of a ceasefire offered temporary relief to risk-averse investors. The U.S. Dollar Index remained steady at 100.96, nearing its highest level since July 15.Currency Markets Brace for Geopolitical Headwinds Currency trading saw caution as geopolitical risks weighed heavily on global sentiment. The dollar was largely flat against the Japanese yen, trading at 162.50 yen. The British pound held firm at...

Gold Surges Amid Diplomacy Hopes as Oil Volatility Skyrockets Over Blockade Threat Spot gold climbed on Tuesday, driven by a complex tug-of-war between rising diplomatic hopes in the Middle East and persistent threats of supply disruption. The movement was observed as fundamental investors weighed cooling oil prices against the possibility of a severe crude market spike stemming from escalating regional tensions.Gold Performance and Precious Metals Rally Spot gold registered a gain of 0.5%, reaching $4,023.56 per ounce as of 0146 GMT. In related news, U.S. gold futures for August delivery added 0.3% at $4,028.The uncertainty surrounding the Bab el-Mandeb Strait was a major factor in commodity movements. The Houthis made...

Oil Prices Drop as Middle East Tensions Mount; Investors Brace for Supply Shocks Amid Mediation Efforts Commodity markets witnessed a mixed trading session on July 21, as global investors closely monitored escalating developments in the Middle East. The volatility was driven by competing narratives: optimism surrounding ongoing mediation efforts contrasted sharply with fresh reports of regional hostility and threats to crucial shipping lanes.Crude Oil Prices Soften Amid Geopolitical Balancing Act Oil futures experienced a downturn after mediating talks between the U.S. and Iran raised cautious hopes for de-escalating regional tensions. Despite this positive sentiment, renewed attacks within the region, along with declarations by...

SBI Funds Management to Surge on Listing Day After Investor Frenzy; GMP Points to Strong Market Debut SBI Funds Management, the investment arm of State Bank of India, is set to debut on the stock markets this Tuesday, July 21. The listing follows an overwhelmingly successful IPO, during which shares commanded a Grey Market Premium (GMP) suggesting robust market sentiment. The company's strong offering and massive scale position it as one of India's key financial players.GMP Signals Strong Debut for SBI Funds Management The newly listed stock is commanding a significant GMP before its listing on the BSE and NSE. With the IPO priced up to Rs 574, the GMP indicates an estimated debut price nearing Rs 671, implying a potential 17% listing...