Markets

Sensex Surges 500 Points as IT Powerhouse and Reliance Momentum Drive Markets Higher The Indian benchmark indices displayed significant resilience in early trade on Friday, climbing more than 0.5 percent to recover from a subdued prior session. This rebound was primarily fueled by a powerful rally in information technology stocks and strength in the heavyweights of the Nifty 50.At 9:28 am, the Sensex climbed 475.12 points, representing a 0.62 percent increase to reach 77,661.99. Simultaneously, the Nifty 50 recorded a gain of 130.15 points, or 0.54 percent, positioning itself at 24,202.90.The market's upward trajectory occurred despite a challenging breadth profile. Data shows that 1,047 shares were advancing against 1,792...

Gold Plummets as Oil Rally Fuels Rate Hike Fears Amid US-Iran Conflict Escalation Precious metals faced significant pressure on the MCX on Friday as geopolitical tensions between the U.S. and Iran reignited, driving oil prices higher and intensifying concerns over persistent inflation. This surge in crude prices has bolstered expectations that interest rates may remain elevated for a longer duration, dampening the appeal of non-yielding assets like gold.Gold futures for August 2026 delivery saw a decline of Rs 385, settling at Rs 1,40,733 per 10 grams. Meanwhile, silver futures for September 2026 delivery dropped by Rs 745 to reach Rs 2,15,268 per kg.Weekly Performance and Geopolitical Impact The week has been particularly volatile...

Caliber Mining & Logistics IPO: A Strategic Bet on India’s Coal Self-Reliance Vision The primary issuance of Caliber Mining and Logistics marks a significant milestone for investors looking to participate in the domestic energy infrastructure boom. As India continues to prioritize its self-reliance drive, this IPO positions the company at the heart of the country's critical mineral logistics network.The offering comes at a pivotal time when domestic mining activity is being streamlined to meet growing industrial demand. Investors are closely watching how the company intends to leverage its operational footprint to become a key player in the coal and logistics landscape.Strategic Positioning in India’s Energy Landscape Caliber Mining...

HSBC Breaks Records With 19x Leverage Offer on FCNR(B) Deposits in GIFT City HSBC's IFSC Banking Unit in GIFT City has unveiled a groundbreaking financing structure that allows Non-Resident Indians (NRIs) to leverage their deposits by up to 19 times. This move marks the highest leverage currently offered by any bank for the special deposit programme, creating a significant opportunity for high-yield returns on foreign exchange holdings.The offering is structured such that an NRI investing $100,000 can create a $2 million FCNR(B) deposit by borrowing $1.9 million against their initial funds. This mechanism allows investors to amplify their exposure to higher interest rates while maintaining a smaller equity commitment.Massive Yield...

Foreign Investors Pivot as Chinese Onshore Bond Holdings Edge Lower in June Foreign institutional investors marginally reduced their holdings in Chinese onshore yuan-denominated bonds during the month of June, according to official data released on Friday.The People's Bank of China Shanghai head office reported that foreign institutions held 3.20 trillion yuan ($472.28 billion) in bonds traded on the country's interbank market as of the end of June.This figure represents a slight decrease from the 3.21 trillion yuan held by international investors a month prior. The data highlights a nuanced shift in capital flows within China's debt markets.A Shift from May Buying Spree to June Consolidation The cooling of activity in June comes...

Caliber Mining & Logistics IPO Opens with 25% Grey Market Premium as Investor Interest Surges The mining and logistics sector sees a fresh entrant into the public markets today as Caliber Mining & Logistics opens its Initial Public Offering (IPO) for subscription on July 17. The issue has already captured significant attention, with the grey market reflecting a robust sentiment for the company's debut.Caliber Mining & Logistics is seeking to raise Rs 450 crore through this offering. The capital will be sourced from a fresh issue of 0.94 crore equity shares worth Rs 400 crore and an Offer for Sale (OFS) involving 0.12 crore equity shares totaling Rs 50 crore.Grey Market Premium and Expected Listing Gains Early indicators from the...

SBI Funds Management IPO Allotment Expected Today as GMP Signals Massive 17% Listing Premium The investment community is bracing for a significant update today, July 17, as the allotment status for the SBI Funds Management IPO is expected to be finalized. This milestone provides critical clarity for investors who participated in the Rs 9,812.91 crore public issue.Applicants can now verify their status through official channels, including the registrar KFin Technologies and the official websites of the BSE and NSE. The IPO is slated to make its debut on both exchanges on July 21.Grey Market Activity and Expected Listing Performance Market sentiment appears bullish as the IPO commands a Grey Market Premium (GMP) of approximately Rs 97...

SBI Funds IPO Shatters Records with Massive 42x Subscription as India’s Largest Asset Manager Debuts The primary market has witnessed a landmark milestone as the ₹9,813-crore initial public offering (IPO) of SBI Funds Management achieved unprecedented levels of investor interest. The debut of India's largest asset manager by a significant margin has set new benchmarks for billion-dollar domestic issues in 2026.Investors flooded the issue with bids for 5.19 billion shares against only 124.5 million shares offered by the State Bank of India subsidiary. This overwhelming demand resulted in a total subscription value of ₹2.97 lakh crore, positioning the IPO as a standout success in the current fiscal landscape.Explosive Demand Across...

Alpine Texworld IPO Allotment Status Out Today as GMP Signals Flat Listing Debut The wait is over for investors in the Alpine Texworld IPO as the allotment process is expected to be finalized today. Investors can now determine if they have secured a portion of the Rs 126.25 crore issue following the subscription window that remained open from July 14 to July 16.Successful applicants will see their shares credited to their respective demat accounts before the company makes its official market debut. The company is scheduled to list on the NSE SME platform on July 21, 2026.Subscription Details and Market Sentiment for Alpine Texworld The IPO received a modest response from the investor community, with the issue being subscribed 1.40...

Man Infraconstruction Limited Announces 24th Annual General Meeting and Releases Annual Report 2025-26 Man Infraconstruction Limited has announced that its 24th Annual General Meeting (AGM) is scheduled to take place on Wednesday, August 12, 2026. The meeting will be conducted at 11:00 A.M. (IST) using Video Conferencing (VC) facilities and other Audio Visual Means (OAVM).The company has released the Annual Report for the financial year 2025-26. To ensure all shareholders have access to the company's performance details, Man Infraconstruction Limited is providing a specific web link for members who have not registered their email addresses with the company or the depositories.The Annual Report for the period of 2025-26 can be...

Rupee Snaps Three-Day Losing Streak as Dollar Index Hits Monthly Low The Indian rupee broke a three-day slide on July 16, opening 4 paise higher at ₹96.31 against the US dollar. This recovery follows a period of steady depreciation and comes as the dollar index retreated to a monthly low.While the currency showed signs of stabilization, it remains positioned near its lowest levels in approximately two months. Market participants are currently navigating a complex environment where geopolitical tensions continue to weigh on emerging market currencies.Geopolitical Tensions and Brent Crude Dynamics Persistent uncertainty in West Asia continues to drive demand for safe-haven assets. Investors remain cautious toward the rupee as...

Borosil Renewables Reports Strong Q1 FY27 Performance with Significant Revenue Growth Borosil Renewables Limited has presented its investor presentation for the quarter ended June 30, 2026, highlighting robust growth in revenue and EBITDA margins. The company, which operates as India's first and largest solar glass manufacturer, showcased a significant year-over-year increase in sales driven by favorable selling prices and strategic operational improvements.Financial Performance Highlights The company reported a notable jump in sales for the first quarter of FY27 compared to the corresponding period in the previous year. A key driver for this growth was the increase in average Ex-factory selling prices, which rose to INR 160.3/mm from...

Wipro Shares Plunge 2% as Muted Revenue Guidance and Soft Demand Outlook Trigger Nifty Sell-Off Wipro Ltd shares tumbled nearly 2 percent in early trade on Friday, positioning the IT giant as the top loser on the Nifty 50. The sell-off came as investors reacted to a subdued June-quarter performance and a conservative revenue outlook for the upcoming September quarter.The stock dropped 1.9 percent to Rs 174.30 during early trading sessions. This marked a sharp reversal from Thursday, when the share closed 1.75 percent higher at Rs 177.70 ahead of the earnings release.While the domestic shares faced pressure, Wipro's American depositary receipts (ADRs) managed to edge up 0.54 percent overnight following the announcement. However, the...

Borosil Renewables Limited Reports Strong Q1 FY27 Growth with Significant Expansion Plans Borosil Renewables Limited has released its investor presentation for the quarter ended June 30, 2026, highlighting a period of robust financial growth and strategic expansion in the solar glass manufacturing sector. The company, which operates as India's first and largest solar glass manufacturer with a capacity of 1000 TPD (~6.5 GW), reported a substantial increase in revenue and EBITDA for the first quarter of fiscal year 2027.Financial Performance Overview The company saw a significant rise in its standalone sales, which reached Rs. 405.69 cr during Q1FY27 compared to Rs. 332.26 cr in the corresponding quarter of the previous year. This...

India Targets $189 Billion Import Substitution with Massive Manufacturing Push Across 1,272 Products The Government of India has unveiled a comprehensive product-level strategy aimed at curbing an $189 billion annual import bill by bolstering domestic manufacturing capabilities.According to an official document reviewed by Business Standard, the initiative identifies 1,272 specific products spanning chemicals, electronics, machinery, and speciality steel for local production.These products were selected because they currently account for annual imports exceeding $50 million each and are either not manufactured in India or produced in insufficient quantities.Strategic Assessment of Import Substitution Potential The government's...

RBI Signals Tight Liquidity with Significant Absorption in Money Market Operations The Reserve Bank of India (RBI) has released the latest data on money market operations as of July 16, 2026, revealing a significant contraction in systemic liquidity. The report highlights active measures taken by the central bank to manage the flow of funds within the financial ecosystem.Significant Liquidity Absorption and Repo Dynamics The RBI's operational data shows a notable net liquidity injection of -93,280.00 Crore from today's operations alone. This figure indicates a concerted effort toward absorption rather than injection into the market.In terms of specific facilities, the Standing Deposit Facility (SDF) saw a major move with 1,17,446.00...

Government mulls Merchant Discount Rate (MDR) on High-Value UPI Transactions to Ensure Ecosystem Sustainability The Indian government is currently evaluating a proposal to introduce a Merchant Discount Rate (MDR) on UPI payments for large businesses, specifically targeting transactions exceeding ₹2,000.A senior government source confirmed that the proposed fee may be set below 0.5 percent. The decision on this regulatory shift is expected to be finalized within the next two weeks.This move marks a potential shift in how digital payments are structured for large-scale commerce. Officials clarified that the proposal is exclusively aimed at large merchants and businesses rather than individual retail sellers.Impact on Consumers...

Gold, Silver Prices Slump as US-Iran Tensions Fuel Crude Oil Rally Bullion prices faced a downward trajectory during early trade on July 17 as renewed tensions between the US and Iran kept both the US dollar and crude oil prices at elevated levels.The international spot gold market saw a 0.25 percent decline to $3,982.30 per ounce. Simultaneously, silver prices edged down by 0.28 percent to reach $57.27 per ounce during morning trades on Comex.On the domestic front, MCX gold futures for the August contract ended Thursday's trade with a significant 1.16 percent decline to Rs 1,40,209 per 10 grams. Silver futures for the September contract also saw a slight pullback of 0.16 percent, closing at Rs 2,15,665 per kilogram.Geopolitical...

China’s Moonshot Disrupts Global AI Hierarchy with Massive 2.8-Trillion-Parameter Kimi K3 Model Chinese AI startup Moonshot has officially challenged the dominance of U.S. giants by unveiling Kimi K3, a massive 2.8 trillion-parameter model. The company claims this is the world's largest open-weight AI system, delivering performance that nears the frontier capabilities of Anthropic's Fable model.The launch arrives just one month after the U.S. government abruptly withdrew Anthropic's Fable and Mythos models due to security concerns. This rapid deployment highlights a tightening gap as China's open AI ecosystem begins to rival the most advanced American systems.Challenging Western Dominance with High-Performance Open Weights Moonshot...

Oil Prices Surge Amid Escalating Middle East Tensions as Gold Faces Steep Weekly Decline Crude oil prices climbed on July 17 as intensifying geopolitical friction in the Middle East sent markets into a state of heightened alert. The escalation between the United States and Iran has directly impacted global supply dynamics, pushing energy benchmarks higher despite a mixed performance across other commodity sectors.Brent crude futures rose 1.25 percent to reach $85.28 a barrel. Simultaneously, US West Texas Intermediate (WTI) crude gained 1.3 percent to settle at $79.98 a barrel, successfully recovering losses from the prior trading session.Geopolitical Friction Disrupts Global Oil Flows The primary catalyst for the upward movement in...