Markets

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...

Sensex, Nifty Face Flat Opening as High Oil Prices and Geopolitical Tensions Weigh on Sentiment Indian benchmark indices, the Sensex and Nifty 50, are expected to open with little to no change on Friday morning. This cautious stance comes as GIFT Nifty indicates a flat start, reflecting a watchful mood among investors awaiting critical first-quarter earnings from market heavyweights.The GIFT Nifty was trading at 24,085 around 8:00 am, down 10 points or 0.04 percent. This suggests the Nifty 50 could open near its Thursday close of 24,072.75. The market follows a volatile session where gains were surrendered to end largely flat, with the Sensex edging up 1.44 points to 77,186.87 and the Nifty slipping 5.75 points, or 0.02 percent...

Tata Group Shifts Focus to Mature 90nm Technology for Landmark Semiconductor Debut Tata Electronics Pvt. is recalibrating its entry into the semiconductor space by preparing to manufacture India’s first domestic chips using significantly older technology than initially anticipated.The conglomerate's tech arm plans to establish a large-scale production plant in Dholera, Gujarat, primarily utilizing 90-nanometer process technology. This marks a departure from the more advanced 28nm node originally highlighted in the group’s annual report for the period ended March 2025.While 90nm is considered a mature technology used mainly in industrial applications and automotive sectors, it faces risks of becoming obsolete as the industry evolves...

RSC International Ltd Announces Major Acquisition and Capital Expansion Plan RSC International Ltd has announced a series of significant corporate actions following a Board of Directors meeting held on July 16, 2026. The company plans to significantly increase its authorized share capital, acquire a majority stake in a fintech-driven retail lending platform, and issue new equity shares and convertible warrants to non-promoter public categories.Authorized Share Capital Expansion The Board has approved an increase in the existing authorized share capital of the company from Rs. 7,00,00,000 (Rupees Seven Crores Only) to Rs. 24,00,00,000 (Rupees Twenty Four Crores Only).The current structure consists of 70,00,000 Equity Shares of Rs. 10...

Gold Holds Firm as Silver Plummets Rs 1,500 Amid Rising West Asian Tensions Gold prices maintained their steady stance for a second consecutive session on Thursday, holding firm at Rs 1,46,300 per 10 grams in the national capital. The yellow metal, traded at 99.9 per cent purity, showed resilience despite fluctuating global cues as reported by the All India Sarafa Association.In contrast, silver faced significant downward pressure, sliding Rs 1,500 to hit an over two-week low of Rs 2,24,500 per kilogram (inclusive of all taxes). This follows Wednesday's closing level of Rs 2,26,000 per kg as the white metal continues its bearish trajectory.Silver Hits Multi-Week Low Amid Profit Booking Silver prices have now declined for the fourth...

Sensex, Nifty 50 Face Volatile Seesaw as Selling Pressure Wipes Out Early Gains Indian benchmark indices exhibited significant volatility during the session on July 16, ultimately closing in a flat zone after an early morning rally. While the market opened with positive momentum supported by buying interest in IT and select heavyweight stocks, selling pressure intensified in the second half of the day.The Sensex ended the session up a marginal 1.44 points at 77,186.87. Meanwhile, the Nifty was down 5.75 points, or 0.02 percent, closing at 24,072.75. This movement highlights a day where gains were quickly erased as profit booking outweighed initial buying enthusiasm.Global Market Cues and Semiconductor Selloff Impacts The domestic...

Wall Street Giants Slashed Headcount Amid Record Profits as AI and Efficiency Drive Aggressive Job Cuts Wall Street's largest financial institutions are undergoing a massive workforce contraction despite reporting a blowout quarter fueled by a surge in trading activity.Data reveals that the biggest US banks saw their total headcount fall by more than 10,000 during the second quarter. This represents the most significant quarterly decrease in data dating back to early 2020.While the industry saw a widespread purge of positions, JPMorgan Chase & Co. remained the sole outlier among the major lenders, as its employee count actually inched up during the period from the end of the first quarter.Strategic Cost Cutting and Record...

ICICI Prudential Life Insurance Announces Dividend Distribution for FY2026 ICICI Prudential Life Insurance Company Limited has initiated the distribution of dividends for the financial year 2026, following shareholder approval during the Annual General Meeting held on June 30, 2026. The company confirmed that the dividend was approved at a rate of ₹ 1.65 per equity share, which carries a face value of ₹ 10 each.The eligibility for this dividend was determined based on the record date established as June 5, 2026. Shareholders who held equity shares as of the close of business on that date are entitled to receive the payment. The company has coordinated with KFin Technologies Limited, the Registrar and Share Transfer Agent, to...

Jindal Photo Limited Approves Delisting Proposal Following Board Review Jindal Photo Limited has received approval from its Board of Directors to proceed with a voluntary delisting proposal for its equity shares. The decision follows a comprehensive review of due diligence reports and share capital audits conducted in July 2026.The board meeting held on July 16, 2026, saw the consideration of a Due Diligence Report submitted by M/s Bhumika & Co. Additionally, the board took on record a Reconciliation of Share Capital Audit Report for the six-month period ending July 15, 2026.Delisting Offer Valuation and Proposal Details The Board acknowledged a letter from Saffron Capital Advisors Private Limited, the Manager to the Offer, which...

Harmony Capital Services Ltd Announces Acquisition of Truvolt Engineering Co Private Limited via Share Swap Harmony Capital Services Ltd has announced a significant strategic expansion following the approval by its Board of Directors to acquire a controlling interest in Truvolt Engineering Co Private Limited. The transaction, structured as a share swap arrangement, will result in Truvolt Engineering Co Private Limited becoming a subsidiary of Harmony Capital Services Ltd.The acquisition involves the purchase of 63,23,700 equity shares, which represents approximately 51% of the paid-up equity share capital of the target company. To facilitate this transaction, the company approved the issuance and allotment of up to 1,26,47,400 equity...

GRE Renew Enertech Ltd Secures New Orders Worth ₹2.39 Crore in Fortnightly Business Update GRE Renew Enertech Ltd has announced the receipt of new orders aggregating to ₹23,99,74,407 during the period from July 1, 2026, to July 15, 2026. These contracts were secured in the ordinary course of the company's business operations and contribute to a growing order book.Following these new acquisitions, the aggregate value of the company's order book stands at approximately ₹248 Crore as of the reporting date. The orders involve Turnkey EPC (Engineering, Procurement, Construction, Testing, and Commissioning) contracts for solar power plants.Detailed Order Breakdown The company secured three specific contracts from domestic entities for the...

5paisa Capital Reports Rs. 88.4 Crore Income for Q1FY27, Profit Up 8% Quarter-on-Quarter 5paisa Capital Limited has reported its financial results for the quarter ended June 30, 2026. The company recorded a consolidated income of Rs. 88.4 crore, representing a 3% increase compared to the previous quarter. Profit after tax stood at Rs. 11.6 crore, marking an 8% growth on a quarter-on-quarter basis.The company's financial performance highlights for the period ending June 30, 2026, are detailed below:ItemQuarter ended June 30, 2026Quarter ended March 31, 2026Q-o-QQuarter ended June 30, 2025Y-o-YIncomeRs. 88.4 CroreRs. 85.5 Crore3%Rs. 77.8 Crore14%Profit before taxRs. 15.5 CroreRs. 14.5 Crore7%Rs. 15.5 Crore-Profit after...