Markets

ITC Breaks Record Revenue Mark: FMCG Push and Digital Strategy Fuel Growth Ahead of AGM Diversified conglomerate ITC Ltd is set for a critical period as it nears its 115th Annual General Meeting (AGM) while preparing to announce results that reflect significant strategic evolution. The company's focus remains firmly on the "ITC Next" strategy, balancing traditional strengths with aggressive moves into digital and organic growth segments.Key Dates and Investor Focus Investors are keenly awaiting the outcome of the upcoming board meeting where unaudited standalone and consolidated financial results for the quarter ending June 30, 2026 will be considered. The Board of Directors is scheduled to convene on July 31 to finalize these...

AU Small Finance Bank Allots 3,03,613 Equity Shares Pursuant to Employee Stock Options AU Small Finance Bank Ltd has allotted a total of 3,03,613 equity shares, with a face value of Rs. 10/- each. The allotment took place on July 20, 2026, following the exercise of equivalent number of Employees Stock Options (ESOPs) under various ESOP schemes.The allotted shares were distributed across four different ESOP programs:ParticularsNo. of Equity SharesESOP 20163ESOP 20181,32,260ESOP 20201,40,201ESOP 202331,149Total3,03,613The exercise of these options resulted in a change to the bank's capital structure. The paid-up equity share capital of AU Small Finance Bank is set to increase from Rs. 7,49,28,54,430 to Rs...

Paytm Scraps First Bonus Issue Proposal, Pivots to Profitability and Expansion Post Strong Q1 Results One97 Communications, the parent company of fintech giant Paytm, has made a significant strategic shift, deciding not to move forward with its proposed maiden bonus share issue at this time. The management has instead chosen to focus intently on business expansion and enhancing long-term profitability to maximize value for its shareholders. This decision comes after the board discussed the matter during its meeting held on July 20, concluding that prioritizing operational strengthening was necessary immediately.Strategic Shift: Canceling Bonus Issue Proposal The company had initially informed stock exchanges on July 15 that it would...

K2 Infragen Limited Appoints D K Raju as Senior Vice President to Lead High-Growth HAM PortfolioGurugram, July 21, 2026: K2 Infragen Limited, a rapidly scaling multivertical engineering and infrastructure institution (NSE: K2INFRA), has announced the appointment of Mr. Danda Kanaka Raju (Mr. D K Raju) as Senior Vice President for its Hybrid Annuity Model (HAM) Project vertical. This strategic move is aimed at strengthening the company’s managerial capacity as it advances into an intensive, high-velocity execution phase across its road, railway, and utility power portfolios.The appointment underscores K2 Infragen's commitment to building deep management bench strength during its transition into larger infrastructure mandates. This...

Rupee Holds Steady at ₹96.41 Against Dollar Despite Crude Oil Fears and Global Market Tension The Indian rupee managed a marginal recovery against the US dollar on July 21, opening higher despite persistent concerns surrounding high crude oil prices and bearish trends observed in derivative market positioning supporting the dollar's demand. The domestic currency opened 4 paise stronger at ₹96.41 per US dollar, showing resilience from its previous closing rate of ₹96.45.Domestic Currency Movement and RBI Intervention Focus Persistent dollar buying activity by oil marketing companies continues to put pressure on the rupee. However, the Reserve Bank of India (RBI) is reportedly intervening in the market. The central bank is said to be...

SBI Funds IPO Transforms 13 Employees into Crorepatis as ESOP Haul Hits ₹121 Crore SBI Funds Management is poised to make a debut in the stock market, translating years of employee dedication into substantial wealth creation. The company’s Initial Public Offering (IPO) has highlighted the significant payoff provided by its Employee Stock Ownership Programme (ESOP). At an issue price of ₹574 per share, senior executives and long-serving employees stand to gain enormous fortunes, underscoring the success of the program introduced back in 2018.Key Executives Witness Massive ESOP WindfallThe IPO has created multi-crore fortunes for several senior management members at SBI Funds. Deputy Managing Director Devinder Pal Singh is set to be...

Money Market Liquidity Absorbed by RBI: Repo Rate Holds Steady as Overnight Transactions Cross 6.7 Lakh ₹ Crore Mark The Reserve Bank of India (RBI) conducted key operations across various money markets on July 20, 2026. The data reveals a focused liquidity management effort, with the central bank absorbing significant net liquidity from both today's and outstanding operations. Overnight segment transactions peaked, underscoring active market participation while maintaining rates within established ranges.Overview of Money Market Operations The overall money markets witnessed substantial activity in the overnight segment, totaling ₹ 6,70,648.83 crore. The Weighted Average Rate across all money markets stood at 5.26%, indicating a...

Aurum PropTech Acquires Housing.com to Build Integrated Real Estate Ecosystem Aurum PropTech Limited has acquired 100% of Housing.com, India's leading consumer property platform. The transaction is aimed at strengthening the company’s ecosystem and establishing a fully integrated technology infrastructure across the entire real estate value chain in India.The acquisition involves the issuance of 1,97,93,309 new Aurum PropTech equity shares to REA India. Following this deal, total shareholding for REA India in Aurum PropTech is set to reach approximately 24.9%.Housing.com, which provides services such as AI-powered search and intelligent lead generation, will join a portfolio that includes NestAway, PropTiger, HelloWorld, Sell.do...

Powering Up India's Infra Sector: Absolute Projects and Jindal Supreme Secure SEBI Nod for IPO Launch The Indian market is bracing for the arrival of two manufacturing giants, as both Absolute Projects (India) Ltd and Jindal Supreme (India) Ltd have secured crucial regulatory clearance from SEBI to float their Initial Public Offerings (IPOs). This development signals growing investor confidence in the core infrastructure and industrial sectors within the country.The companies received SEBI's observations on July 17, having submitted their preliminary IPO documentation between April and May. In the context of market regulations, an observation from SEBI signifies full approval to move forward with the IPO process. Shares of both...

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...