Markets

NSE Poised for Mega $3 Billion IPO: Global Investor Roadshows Set Ahead of Massive Stock Offering National Stock Exchange Targets September Listing After Launching Marketing Campaign National Stock Exchange of India Limited (NSE), the operator of the world’s largest derivatives exchange by trading volume, is preparing to initiate a substantial initial public offering (IPO). Sources familiar with the matter indicate that the marketing phase for this massive stock sale could begin as early as next week.The NSE, which serves as one of India’s premier financial institutions, is moving forward with what is anticipated to be one of the largest IPOs in the country's history. The offering aims to raise up to $3 billion.Global Investor...

India's Forex Reserves Plunge as Services PMI Eases; Eurozone Activity Stabilises Foreign Exchange Reserve Decline Hits $666.9 Billion Mark India's foreign exchange reserves saw a decline of $5.7 billion in the week ended June 26, according to the latest CareEdge daily bulletin. The reserve drop was attributed primarily to decreases in foreign currency assets and gold reserves. This decline occurs as market focus shifts towards domestic economic indicators and global trade health.Services PMI Moderates but Remains in Expansion Territory India's Services Purchasing Managers' Index (PMI) moderated to 57.4 in June. This figure marks the lowest reading since January 2025, although it remains firmly within expansion territory. The...

Accent Microcell Board Approves Management Changes, Auditor Re-appointment at Annual Meeting Accent Microcell Limited held a board meeting on July 6, 2026, where it took several key decisions regarding corporate governance, financial reporting, and executive compensation. The Board considered reports for the financial year ended March 31, 2026, and approved critical appointments ahead of its forthcoming general body meetings.One significant outcome was the appointment of Ms. Pooja Dharmesh Shah as an Additional Director (Non-Executive, Independent category). She is effective from July 3, 2026. Ms. Shah, who holds a degree as a Chartered Accountant, has over seven years of experience in practice since 2017 and specializes in GST...

Sunlite Recycling Industries Announces ₹37 Crore Strategic Expansion of Manufacturing Capacity Sunlite Recycling Industries Limited has announced a strategic expansion aimed at strengthening its manufacturing capabilities to meet the increasing demand from domestic and international markets. The expansion will be executed through the Company's wholly owned subsidiary, Sunlite Aluminium Private Limited, alongside capacity increases within Sunlite Recycling Industries Limited itself.The company anticipates that these projects will be completed by Q1 FY2027-28, with financing planned through a combination of internal accruals and bank borrowings. The total investment for the expansion is approximately ₹37 Crore.Copper Products...

RNFI Services Limited Appoints Sameer Nagpal as Group Chief Operating Officer and Key Management Personnel RNFI Services Limited has announced the appointment of Mr. Sameer Nagpal as the new Group Chief Operating Officer (Group COO) of the company. The Board of Directors, based on the recommendation of the Nomination and Remuneration Committee, approved this designation, effective July 06, 2026.In addition to his operational role, Mr. Nagpal has been designated as Key Management Personnel (KMP) of RNFI Services Limited.Mr. Sameer Nagpal brings extensive experience to the role, possessing over 20 years in banking, financial services, and rural financial inclusion. Throughout his career, he held leadership positions spanning business...

Rapido's Billion Dollar Bet: Can Affordable Logistics Unseat Zomato and Swiggy? CEO Aravind Sanka Details Ownly Ambition Rapido, the mobility giant, is betting its future on a seemingly unexpected venture: food delivery through its zero-commission platform, Ownly. Company CEO and co-founder Aravind Sanka believes that the logistics network built over a decade provides Rapido with a critical edge in the fiercely competitive Indian food delivery space.Sanka made it clear that the success of this gamble hinges on scale, stating that there is "no reason for Rapido to exist" if online food ordering does not reach 100 million users within three years. This ambition underscores Rapido's aggressive plans to double the market size in every...

Bluspring subsidiary STEAG India secures major contracts, boosting order book to over ₹5,100 Crore Bluspring Enterprises Limited has seen a significant boost in its energy services division as its subsidiary, STEAG Energy Services (India) Private Limited, secured multiple large long-term contracts, bringing the cumulative contract value to over ₹5,100 Crore.STEAG India, which was acquired by Bluspring on May 21, 2026, operates within an asset light model and provides endto-end services to power plants across various fuel types and generation capacities. The company has been established in India since 2001 as part of the 89 year old German energy giant STEAG Power GmbH. STEAG India currently manages 7GW of power plants globally, boasts...

D-Link Announces Board Meeting to Review Un-audited Financial Results for Q1 FY27 D-Link (India) Limited has announced a meeting of its Board of Directors to review and approve the un-audited financial results for the quarter ended June 30, 2026. The meeting is scheduled for August 01, 2026.The company will use the board session to consider the Q1 financial performance and other necessary matters.In relation to internal trading protocols, D-Link has confirmed that the trading window for dealing in the securities of the company closed effective from July 01, 2026. The trading window is set to reopen 48 hours after the disclosure of the said financial results to Stock Exchanges.DLINKINDIA Stock Price Movement Shares of D-Link...

Stellant Securities Reports Q2026 Performance with Net Profit After Taxing Stellant Securities (India) Limited has released its Standalone Unaudited Financial Results for the quarter ended June 30, 2026. The results reflect the company's performance across various segments including securities market trading, advisory, and bullion trading, showing a significant profit after tax compared to previous periods.The financial statements provide insights into the operational health of the company as of June 30, 2026, which were reviewed by auditors.Financial Highlights (in Rs. in Lacs) Consolidated figures from the Statement of Standalone Unaudited Financial Results show key performance indicators across different periods...

Auto Stocks Roar as Nomura Highlights Strong June Sales Surge, Pitting EV Leaders Against ICE OEMs Market Reactions to Robust Auto Sales Data Shares of Mahindra &Mahindra (M&M) and Ather Energy saw gains on Monday after Nomura reaffirmed its positive outlook following robust auto sales trends in June. M&M stock rose 1.14% to ₹3,172.70 on the NSE, while Ather Energy gained 0.74%, trading at ₹1,138.40. Hyundai Motor India, another firm favored by Nomura, traded slightly down 0.35% to ₹1,986.50.OEM Favoritism Amid Industry Momentum Nomura stated that "healthy demand momentum continued across segments in June." The brokerage noted significant growth in wholesale volumes for medium and heavy commercial...

Tirupati Forge Limited Approves Capital Hike, Issues 37 Lakh Convertible Warrants on Preferential Basis Tirupati Forge Limited announced several key corporate decisions following a board meeting held on July 2, 2026. The company approved an increase in its authorized share capital and decided to issue up to 37 lakh convertible equity warrants through a preferential allotment, subject to shareholder approval.The Board of Directors considered and approved the increase in the Company's Authorized Capital from existing Rs 26,50,00,000 (Rupees Twenty-Six Crores Fifty Lakhs Only) to Rs 27,50,00,000 (Rupees Twenty-Seven Crores Fifty Lakhs Only). This increase is proposed to facilitate future fund-raising requirements. The authorized share...

Leela Jumps Over 4% as Nomura Backs Hospitality Stocks Ahead of Q1 Earnings Wave Hotel stocks saw a positive trading session on Monday, July 6, following a bullish projection from Nomura on the Indian hospitality sector for June. The brokerage highlighted domestic demand resilience despite international travel challenges, making several luxury players stand out.Leela Palaces Hotels & Resorts surged to Rs 495.55, marking a gain of 4.17%. Indian Hotels and ITC Hotels also traded higher on the NSE, with the latter gaining 0.40% to reach Rs 179.33, and Indian Hotels increasing by 0.72% to Rs 733.85.Nomura’s View: Domestic Demand Drives Hospitality Sector Rally Nomura noted that domestic demand across hotels proved fairly resilient. This...

Bank Giants Diverge on Q1 Updates: HDFC and Axis Banks Surge as Kotak Mahindra Posts Moderation The banking sector witnessed mixed sentiment trading after major private lenders released their business updates for the April-June quarter. Shares of HDFC Bank and Axis Bank saw significant rises, driven by strong growth in advances and deposits. Conversely, Kotak Mahindra Bank’s stock fell sharply as it reported a sequential moderation across loan and deposit growth metrics.Growth Trajectory: Strong Performance from HDFC Bank and Axis Bank HDFC Bank, India's largest private lender, reported robust Q1 results. Gross advances grew 15.4% year-on-year, reaching ₹30.6 lakh crore as of June 30. Total deposits for the quarter climbed 14.7% to...

Sandu Pharmaceuticals Board Meeting Scheduled Following Demise of Managing Director Sandu Pharmaceuticals Ltd has scheduled a Board meeting to address significant changes in its senior management following the demise of Shri Umesh B. Sandu, the company's erstwhile Managing Director.The Board of Directors is set to meet on Saturday, July 11, 2026, at the Company's Corporate Office located in Mumbai. The primary purpose of the meeting is to place on record the death of Shri Umesh B. Sandu, who passed away on June 19, 2026. The Board will also formally recognize and appreciate his invaluable contribution to Sandu Pharmaceuticals Ltd.Key items for discussion at the board meeting include the appointment of a new Managing Director of the...

Auto Sector Surges: Nifty Index Rockets as June Sales Jump Significantly, Fueling Rally Led by TVS and Bajaj The Nifty Auto index climbed 1.1 percent on Monday, emerging among the strongest sectoral gainers. The rally was ignited by robust auto sales data released by the Federation of Automobile Dealers Associations (FADA) for the month of June. Investors aggressively bought into auto and ancillary stocks following these highly upbeat sales numbers.Auto Sales Skyrocket: Key Figures from FADA Data The overall vehicle sales saw a substantial increase of 21.8 percent year-on-year, hitting 2.6 million units in June. This figure represents the highest recorded sales volume for the industry in that month. Strong consumer demand across both...

Vikram Solar Commissions New Mega-Facility in Tamil Nadu; Focus on Domestic Integration and Future Capacity Build Vikram Solar Limited, a prominent player in India's solar PV module manufacturing sector, has successfully commissioned its new mega-facility located in Gangaikondan, Tamil Nadu. The formal commissioning marks the successful production of the company’s first solar module from the state-of-the-art facility.The Gangaikondan greenfield module manufacturing plant spans 6 lakh sq ft and is designed as a next-generation smart factory. It integrates advanced automation with digital manufacturing technologies to ensure high efficiency, quality, and reliability throughout the production process. The facility aims to generate...

FMCG Stocks Surge as Domestic Resilience Meets Global Expansion in Q1 FY27 Results The Fast-Moving Consumer Goods (FMCG) sector reported significantly improved growth prints across both Indian domestic markets and international operations during the first quarter of FY27. This dual performance signals a robust health check for the industry, providing a stable foundation that is currently attracting investor attention. The consolidated outlook for FMCG remains steady as companies leverage strengthening overseas sales alongside consolidating home market gains.Domestic Resilience Fuels FMCG Q1 Surge The Indian market continues to be a bedrock of strength for consumer goods giants. Q1 FY27 results indicate marked improvements in domestic...

Vikram Kamats Hospitality Launches 'Urban Dhaba' in Mumbai, Marking Major Expansion Milestone Vikram Kamats Hospitality Ltd, formerly known as Vidli Restaurants Limited, has commenced commercial operations for its new premium restaurant outlet, 'Urban Dhaba' (Urban Bar). The launch represents a key element of the company's ongoing expansion strategy.The new establishment is located at Shop 5-8 in Tapovan Co-operative Housing Society Ltd., Near Nahur Station in Bhandup West, Mumbai. The operational commencement date for the outlet was July 6, 2026.The 'Urban Dhaba' outlet has been designated as a premium dining location and is designed to provide an elevated customer experience. Key details regarding the new facility include...

Asian Paints Announces Board Meeting and Investor Conference for Q2 2026 Results Asian Paints Ltd has announced that a meeting of its Board of Directors will be held on Wednesday, July 29, 2026. The meeting is scheduled to consider the financial outcomes of the company for the quarter ended June 30, 2026.The agenda items for the board include the approval of the audited standalone financial results and the unaudited consolidated financial results for the same period.In addition to the Board review, Asian Paints has scheduled an investor conference on Wednesday, July 29, 2026. During this event, management will brief investors regarding the company’s performance during the quarter that ended June 30, 2026. Further details concerning...

Tirupati Finlease Ltd to Hold Board Meeting to Review Q1 Financials and Approve AGM Plans Tirupati Finlease Ltd has scheduled a meeting of its Board of Directors to consider several key corporate matters, including the review of unaudited financial results for the quarter ended on June 30, 2026. The board meeting is set for Saturday, July 11, 2026, at the company's Registered Office.The primary business scheduled includes taking on record the unaudited Financial Results and the Limited Review Report pertaining to the first quarter of the financial year.A significant portion of the agenda focuses on preparations for the forthcoming Annual General Meeting (AGM). The board is set to review and approve all necessary documentation...