Markets

State Bank of India Announces Prospectus Filing for SBI Funds Management Limited IPO State Bank of India has received confirmation from its subsidiary, SBI Funds Management Limited (SBIFM), regarding the filing of the Prospectus dated July 16, 2026. This filing was submitted with the Registrar of Companies, Mumbai - I, in connection with the initial public offering (IPO) of SBIFM.The IPO follows a series of previous updates, including the filing of the Red Herring Prospectus on July 8, 2026, an addendum filed on July 10, 2026, and the finalization of the offer price in mid-July 2026.Offer Structure and Share Allocation The IPO was conducted through a book-building process and involves an offer for sale (OFS) of equity shares. The...

LTM Partners with Glean to Accelerate Enterprise AI Adoption LTM has announced a strategic partnership with Glean, an enterprise AI platform designed to connect and understand organizational knowledge across various applications, systems, and workflows. The collaboration aims to help large enterprises unlock greater value from their AI investments by providing a trusted context foundation for accurate, governed, and outcome-driven results.The partnership addresses the challenge of fragmented knowledge distributed across multiple business applications and data sources. By integrating Glean’s AI platform, which features an enterprise knowledge graph, AI-powered search, assistants, and agents, organizations can provide employees with...

Alpine Texworld IPO Allotment Finalised Today as Grey Market Premium Signals Flat Listing Investors awaiting the allotment status of the Alpine Texworld Limited initial public offering (IPO) can now see the results today, July 17. The Rs 126.25 crore issue saw a subscription period from July 14 to July 16, ending with the offer being booked 1.4 times.Data from the National Stock Exchange confirms that bids were received for 1,68,62,642 shares against the total 1,20,24,000 shares on offer. The demand was spearheaded by Retail Individual Investors (RIIs), who subscribed to their reserved portion 1.53 times.The Qualified Institutional Buyers (QIBs) and Non-Institutional Investors (NIIs) categories each saw a subscription of 1.09 times...

Jio Set to Launch India's First Homegrown Satellite Constellation After Technical Nod for 1,600 LEO Satellites Reliance Jio has received a critical technical green light for its ambitious plan to deploy approximately 1,600 low Earth orbit (LEO) satellites. Authorities have validated the proposal as technically sound and comparable to global benchmarks like SpaceX's Starlink.The evaluation was conducted by a high-level panel including the Indian National Space Promotion and Authorisation Centre (IN-SPACe), the Indian Space Research Organisation (ISRO), and the Wireless Planning and Coordination wing of the Department of Telecommunications (DoT).This technical clearance is expected to facilitate government support for the Mukesh...

SBI Funds Management IPO Allotment Status Set to Trigger Today After Massive 41-Times Subscription The investor community is bracing for a major update today, July 17, as the allotment status for the Rs 9,813-crore SBI Funds Management initial public offering (IPO) is finalized. The issue witnessed an overwhelming response on its final bidding day, where it was booked over 41.66 times.This public offer, which remained open from July 14 to July 16, garnered total bids worth nearly Rs 2.98 lakh crore. This massive demand positions the offering as India's fifth-largest IPO by total bid value. It currently ranks behind notable issues like Reliance Power, LG Electronics India, Bajaj Housing Finance, and ICICI Prudential AMC.Explosive...

WeWork India Shares Slide 5% Despite Significant Revenue Surge and Narrowing Q1 Losses WeWork India Management shares faced significant selling pressure during Friday's trading session, dropping 5.32% to close at Rs 689.35. This decline occurred despite the company reporting a substantial narrowing of net losses and robust revenue growth for the June 2026 quarter (Q1FY27).The stock remains under scrutiny as investors weigh immediate price action against the underlying operational expansion reported in the company's latest regulatory filing. While the near-term sentiment appears cautious, the fundamental data highlights a shift toward improved financial performance and a strengthened market footprint.Robust Revenue Growth and...

China Pivots to Rapid Infrastructure Execution as Beijing Battles Local Investment Slump China is accelerating the rollout of pre-approved national infrastructure projects to stabilize economic growth amid a sharp decline in local government investment. This strategic move aims to cushion the impact of tighter provincial budgets while ensuring the central government maintains strict oversight over spending.Policy experts suggest this approach seeks to mitigate long-standing issues such as industrial overcapacity and persistent deflationary pressures. By focusing on existing projects rather than broad-based fiscal stimulus, Beijing intends to support growth without fueling further inefficiencies in infrastructure development...

Rajesh Power Services Ltd Secures Orders Worth Rs. 34.37 Crores from PGVCL and RVPNL Rajesh Power Services Ltd has secured new business orders totaling Rs. 34.37 crores (including taxes) from two major power utilities: Paschim Gujarat Vij Company Limited (PGVCL) and Rajasthan Rajya Vidyut Prasaran Nigam Limited (RVPNL). These contracts were obtained in the normal course of business.The company will execute work for PGVCL involving SCADA Readiness and the Rectification of Ring Main Units (RMUs), which includes a Complete Cover Warranty Maintenance Contract (CMC). This project covers the jurisdictions of the Bhavnagar Circle, Jamnagar Circle, and Rajkot Circle of PGVCL.Additionally, Rajesh Power Services Ltd has received an order from...

Reliance Industries and Banking Giants Take Center Stage as 33 Companies Unveil Q1 Earnings The Indian equity markets are braced for a high-intensity earnings season as 33 companies, including heavyweights like Reliance Industries (RIL), prepare to release their results for the April-June quarter. Investors are closely monitoring the Mukesh Ambani-led conglomerate as it remains the primary focus of Friday's reporting cycle.Other significant players scheduled to report on Friday include JSW Steel, Federal Bank, Havells India, Oberoi Realty, RBL Bank, Poonawalla Fincorp, Tata Technologies, and Central Bank. This heavy concentration of data points is expected to drive significant volatility and liquidity across the indices.Mixed...

Sanjeev Lunkad Crosses 5% Threshold in Purple Agrotech Industries Ltd Shares Sanjeev Lunkad, along with Persons Acting in Concert (PAC), has acquired a significant stake in Purple Agrotech Industries Ltd, bringing their total shareholding to over 5% of the company's total capital. The acquisition was completed through open market transactions.The transaction involved the acquisition of 7,500 equity shares, which elevated the holding from 4.92% to 5.01%. The purchase was finalized on July 15, 2026, marking the date on which the holding crossed the 5% threshold.Sanjeev Lunkad is the primary acquirer, with Rushank S. Lunkad, Sneha Lunkad, Riddhi Lunkad, and Snehjeev Ventures Pvt. Ltd. identified as Persons Acting in Concert (PAC). The...

US Homebuilder Sentiment Plummets as High Mortgage Rates and Geopolitical Tensions Strain Housing Market US homebuilder sentiment unexpectedly weakened in July as elevated mortgage rates and growing economic uncertainty continued to weigh on housing demand, according to a survey released on Thursday.The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index fell two points to 34 in July from an upwardly revised reading of 36 in June. This marks the 15th consecutive month that the index has remained below 40, missing the steady reading of 35 expected by economists polled by Reuters.Builders continue to face weak buyer demand as many prospective homeowners delay purchases while waiting for mortgage rates to...

FII Inflows Surge as Indian Equities See Strongest Buying Streak Since Massive Sell-Off Foreign Institutional Investors (FIIs) have sparked a significant turnaround in Indian markets, injecting over ₹15,000 crore into equities during the first two weeks of July. This marks the strongest sustained buying streak of the year, signaling a notable shift in sentiment following seven consecutive months of net selling.The pivot comes as global investors begin to find favor with India again. This renewed interest is being bolstered by easing crude oil prices, a recovering rupee, and resilient domestic fundamentals. However, analysts maintain a cautious stance, noting that current inflows are driven more by portfolio rebalancing and selective...

RBI Extends Regulatory Oversight on Konark Urban Co-operative Bank Ltd. Amid Public Interest Concerns The Reserve Bank of India (RBI) has officially extended the period of its regulatory directions concerning The Konark Urban Co-operative Bank Ltd., Ulhasnagar. This move follows a series of interventions under Section 35A read with Section 56 of the Banking Regulation Act, 1949.The extension ensures that the current regulatory framework remains in place to protect depositors and maintain systemic stability. The RBI confirmed that this action is taken specifically in the public interest.Extension of Regulatory Timeline Until October 2026 The Reserve Bank of India has extended the operation of its previous Directive for an additional...

Yogita Gandhi Acquires 1,500,000 Equity Shares in Swastika Investmart Limited Yogita Gandhi has acquired a significant stake in Swastika Investmart Limited through an open market transaction. The acquisition, which took place on July 15, 2026, involves the purchase of 1,500,000 equity shares carrying voting rights.Following this transaction, the acquirer holds a 7.46 percent stake in the company's total share and voting capital. The acquisition is comprised of equity shares with a face value of Rs. 2 each.The acquisition was executed via open market activity, and the total diluted share capital of Swastika Investmart Limited remains at 2,00,98,500 equity shares of Rs. 2 each following the transaction.The details of the acquisition...

Fed Vice Chair Jefferson Signals Potential Rate Hike if Inflation Remains Stubbornly Elevated Federal Reserve Vice Chair Philip Jefferson has signaled that the U.S. central bank remains prepared to hike interest rates should inflation fail to show sustained improvement in the near term.Speaking ahead of the Federal Reserve's July 28-29 policy meeting, Jefferson emphasized that while the current steady stance is appropriate for now, a reassessment of policy may be necessary to ensure price stability.The official noted that maintaining unchanged rates should continue to support the labor market and allow inflation to gravitate toward the Fed's 2% target as the impact of past tariffs and higher energy prices begin to fade.Balancing...

OM Infra Surges 10% as BHEL and Exide Industries Smash into Fresh 52-Week Highs In a market currently seeking fresh catalysts, several stocks carved out significant gains on July 17 through technical breakouts and intense buying interest. Market participants observed strong upward momentum in specific names trading well above key short-term and medium-term moving averages.The data highlights a divergence in market sentiment where selected stocks showcased robust price action while others faced sustained selling pressure. Technical indicators suggest that the near-term trend for top performers remains positive as they establish new price floors.OM Infra and Current Infra Projects Exhibit Strong Bullish Momentum OM Infra witnessed a...

Japan Reaffirms BOJ Independence in Economic Blueprint as Markets React to Policy Clarity Japan has moved to clarify its stance on central bank autonomy after a recent draft and subsequent market jitters highlighted the delicate balance between government oversight and monetary independence.The final version of the country's economic policy blueprint now includes specific language confirming that decisions regarding individual monetary policy tools remain the sole responsibility of the Bank of Japan (BOJ).This clarification comes in the form of a footnote referencing a legal provision that protects the central bank’s authority to conduct independent monetary policy.Market Reaction to Initial Policy Draft Concerns The revised...

BharatRohan Airborne Innovations Ltd to Establish Step-down Subsidiary in United States BharatRohan Airborne Innovations Limited has approved the incorporation of a new wholly owned subsidiary in the United States of America. The decision was finalized during a Board of Directors meeting held on July 17, 2026.The company issued a resolution to rescind a previous intimation dated May 30, 2026, which had proposed the direct incorporation of "BharatRohan USA LLC" by the company. In its place, the Board approved the creation of a subsidiary under the name "BharatRohan INC" or a similar name approved by relevant authorities.Under the revised plan, this new entity will be held as a wholly owned subsidiary of GroeiGids B.V., which is an...

De Neers Tools Limited Reports 27.8% YoY Consolidated Revenue Growth in Q1 FY27 De Neers Tools Limited has reported a robust start to the financial year 2027, showcasing significant growth in its consolidated revenue and expanding its manufacturing footprint through strategic partnerships. The company’s performance for the first quarter of FY27 reflects steady traction across its specialized product portfolios, including the growing electric vehicle (EV) tool kits segment.Financial Performance Overview The company achieved a notable increase in both standalone and consolidated revenues compared to the same period last year. Consolidated revenue reached ₹ 46.8 Cr during Q1 FY27, representing a 27.8% year-on-year growth over the ₹ 36.7...

Man Infraconstruction Limited Releases Business Responsibility and Sustainability Report for FY 2025-26 Man Infraconstruction Limited (MICL) has released its Business Responsibility and Sustainability Report (BRSR) for the financial year 2025-26. The report outlines the company's operational footprint, employee statistics, and its commitment to Environmental, Social, and Governance (ESG) principles within the construction and infrastructure sector.Corporate Profile and Operations Man Infraconstruction Limited is an integrated management system certified company holding ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 certifications. The company operates primarily in the Engineering, Procurement, and Construction (EPC) space, with a...