Markets

Institutional Interest Surges as SBI Sells Stake in SBI Funds for ₹16,550 Crore Ahead of IPO State Bank of India Divests Near 1.42% Stake in Asset Manager State Bank of India (SBI) announced on Thursday its plan to sell a portion of its stake in the asset management unit, SBI Funds Management. The sale involves divestment of a 1.42% stake to select institutional investors as part of a pre-IPO placement.The lender is divesting 28.8 million shares of SBI Funds. This strategic move precedes the company's large upcoming Initial Public Offering (IPO).Pre-IPO Sale Establishes Valuation Benchmark for SBI Funds The stake sale provides an important early benchmark for the valuation of SBI Funds Management. The transaction price was set at...

Anand Rathi Wealth's Q1 Profit Surges 74% Amid Revenue Growth, But Operational Margin Faces Pressure Shares of Anand Rathi Wealth are in sharp focus following the release of their latest quarterly results. The company reported a significant jump in net profit driven by robust revenue growth during the June quarter. However, a closer look reveals that operating profitability has faced challenges despite the overall earnings boost.Q1 Profit and Revenue Metrics Breakdown Anand Rathi Wealth posted a consolidated net profit increase of 73.6 percent year-on-year (YoY). The company's net profit reached Rs 163 crore, up sharply from Rs 94 crore in the corresponding quarter last year. This impressive bottom-line figure was supported by healthy...

TCS Profit Jumps on Strong Q1 Performance as Power Grid Bags Massive Infra Deal; Tech Stocks Surge Quarterly Earnings and Financial Highlights Tata Consultancy Services reported a strong performance in its Q1 results, with profit rising 4.6% year-on-year (YoY) to ₹13,349 crore from ₹12,760 crore. The company saw revenue jump by 13.9% to ₹72,275 crore compared to ₹63,437 in the previous period, while EBIT grew 11.6%. TCS also announced an interim dividend of ₹12 per share, reflecting its robust operational health.Anand Rathi Wealth experienced exceptional growth in Q1, reporting a 73.6% surge in profit to ₹163 crore from ₹93.9 crore. Revenue for the wealth management firm increased by 17.5%, reaching ₹322 crore, while other income...

PepsiCo Registers Global Growth Surge as India Drives International Beverage and Food Business in Q2 Financial Performance Highlights for PepsiCo American multinational PepsiCo reported robust growth across both its global beverages and convenient foods divisions during the second quarter ending June 13, 2026. The company noted strong organic volume and net revenue increases in these international segments. PepsiCo’s International Beverage Franchise (IBF) business, which constitutes over 60 per cent of its worldwide beverage volumes, recorded a 5 per cent increase in organic volumes for the quarter.The international convenient foods business, representing approximately 70 per cent of global convenient foods volumes, showed a 4 per...

TCS CEO K Krithivasan Declares: AI Will Not Reduce Headcount; Focus Shifts to New Skill Hiring Tata Consultancy Services (TCS) has put a significant note of relief for the job market by stating that artificial intelligence (AI) will not lead to an overall reduction in headcount at the IT services giant. During its Q1FY27 earnings conference, CEO and MD K Krithivasan clarified that the company plans to proactively hire new talent, focusing on AI-native skill sets and advanced technological deployment.This clarification comes in contrast to earlier remarks by TCS chairman N Chandrasekaran, who had previously indicated that AI agents within the organization would eventually match employee counts, with the AI component potentially...

India Inc Revenue Surges at Two-Year High, Defying Global Turmoil and West Asia Tensions A report released on Thursday indicates that corporate revenues across India are poised for significant growth in the June quarter, expected to climb by up to 11.5 per cent. This robust performance is set against a backdrop of prevailing tensions in West Asia, which have led to wide-ranging effects including supply chain disruptions and heightened domestic inflation.The aggregate revenue growth is largely attributed to domestic demand holding firm and "reasonably well" despite global volatility. An analysis covering 400 companies from 47 sectors, excluding banking, financial services, oil and gas, confirms the resilience of Indian corporate...

TCS Shifts Hiring Model: AI-Native Talent Take Centre Stage as Tech Giant Boards 14,000 Campus Grads in Q1FY27 India's largest IT services company, Tata Consultancy Services (TCS), is fundamentally reshaping its hiring approach amidst the rapid ascent of Artificial Intelligence. The tech giant reported focused growth and significant upskilling efforts during the April-June quarter of FY27, continuing to emphasize digital and AI-native talent across its workforce pipeline.The company onboarded 14,000 campus graduates in Q1FY27. This intake contributed to a net addition of 9,279 employees for the quarter, bringing TCS's total headcount to 5,93,798. This strategic shift aligns with earlier statements from Chairman N Chandrasekaran...

GMR Kalinga Solar Changes Subsidiary Status Following Equity Infusion from Grasim Industries GMR Power and Urban Infra Ltd has seen a change in the status of its subsidiary, GMR Kalinga Solar Power Limited (GKSPL), following an equity infusion agreement with Grasim Industries Limited. The allotment of shares has transitioned GKSPL from a Wholly Owned Subsidiary (WOS) to a step-down subsidiary of the parent company.This restructuring follows GKSPL's initial incorporation as a wholly owned subsidiary of GMR Energy Limited, which is itself a WOS of GMR Power and Urban Infra Ltd. GKSPL was established for the development of a 10 MW captive solar power generating plant in Kamalanga, Odisha, based on a design, build, finance, operate basis...

TCS AI Revenue Remains Lumpy as Short-Duration Projects Challenge Annuity Model Tata Consultancy Services (TCS) reported its first-quarter results for FY27, showing revenue exceeding estimates despite a slight miss on net profit. The IT giant's earnings report reveals that the growth trajectory of its artificial intelligence (AI) services is currently non-recurring, relying heavily on short-term projects rather than stable long-term contracts.The company announced a consolidated net profit of Rs 13,349 crore for Q1 FY27. This figure was marginally below the CNBC-TV18 poll estimate of Rs 13,461 crore. However, TCS's revenue for the quarter stood at Rs 72,275 crore, surpassing the CNBC-TV18 forecast of Rs 71,847 crore. The IT major also...

ONGC Board Approves 1.75 MMT Strategic Petroleum Reserves Development at Mangalore The Board of Directors of Oil and Natural Gas Corporation Ltd has granted in-principle approval for the development of a strategic project aimed at bolstering national energy reserves.At its meeting held on July 9, 2026, the company’s Board accorded in-principle approval for the development of 1.75 MMT capacity Strategic Petroleum Reserves. This initiative, which includes associated facilities, is set to be developed at Mangalore under Phase-I Extension and has been designated as a project of national importance, adhering to directives received from the Ministry of Petroleum and Natural Gas (MoP&NG).In addition to approving the reserves development...

TCS Fights Geopolitical Headwinds, Projects Q2 Recovery as Enterprise AI Transformation Surges Tata Consultancy Services (TCS) reported a mixed performance for the recent quarter, attributing challenges in discretionary spending primarily to geopolitical instability. The company expressed strong confidence, however, noting that client sentiment is improving and forecasting a recovery of demand during the second quarter (Q2).The current environment is marked by heightened tensions following military exchanges involving Israel, the US, and Iran in West Asia. These uncertainties heavily impacted consumer-facing technology spending across global businesses.Geopolitical Uncertainty Weighs on Discretionary Spending in Q1 TCS stated that...

Edelweiss Mutual Fund Halts New SIPs in Seven Offshore Funds as Global Investment Cap Reaches Critical Threshold Edelweiss Mutual Fund has issued a notice announcing the suspension of fresh Systematic Investment Plans (SIPs) and Systematic Transfer Plans (STPs) across seven of its overseas-focused schemes. This restriction, effective from July 10, is directly attributable to the fund house nearing the maximum overseas investment limit permitted under the industry-wide cap.The decision highlights strict regulatory compliance concerning global asset allocation limits. Existing SIPs and STPs in these specific schemes remain fully operational and will continue uninterrupted, regardless of the new suspension.Why Edelweiss Suspended Fresh...

Mukka Proteins Provides Loan Funding of Up To Rs 9.1 Crore to Subsidiary United Gulf Fishery Products Mukka Proteins Limited has entered into a loan agreement with its subsidiary, M/s. United Gulf Fishery Products LLC. The transaction facilitates an Inter Corporate Loan intended for urgent business commitments within the group.The agreement between Mukka Proteins Limited and the borrower company involves a maximum loan amount of up to Rs 9,10,00,000/- (Rupees Nine Crore Ten Lakh Only). This financial arrangement was executed on July 9, 2026.Mukka Proteins Limited holds a 68% stake in M/s. United Gulf Fishery Products LLC. The transaction has been confirmed as being conducted on an arm's length basis.Key terms of the agreement...

Ceinsys Tech Ltd Receives Letter of Intent for Rs 67 Crore Manpower Agency Contract in Madhya Pradesh Ceinsys Tech Limited has received a Letter of Intent dated July 9, 2026, securing the appointment as a manpower agency for a major project under the Pradhan Mantri Awas Yojana (Urban) scheme. The contract award is with the Directorate, Urban Administration & Development, M.P., Bhopal, and carries a total work value amounting to Rs 67,04,00,000/-.The Letter of Intent pertains to the Selection and Appointment of a Manpower Agency for the Beneficiary Led Construction (BLC) vertical within Madhya Pradesh. The contract is domestic in nature and has been awarded by the Directorate, Urban Administration & Development, M.P., Bhopal.Ceinsys...

OnEMI Technology Solutions Limited Appoints BDO India Services Pvt. Ltd as Internal Auditor for 2026-27 OnEMI Technology Solutions Limited has appointed BDO India Services Pvt. Ltd to serve as its Internal Auditor for the financial year 2026-27. The decision was approved by the company’s Board of Directors during a meeting held on July 09, 2026.The appointment involves BDO India Services Pvt. Ltd carrying out the Internal Audit of the Company. The selection of BDO India Services Pvt. Ltd followed recommendations from the Audit Committee of OnEMI Technology Solutions Limited.Auditor Profile and Appointment DetailsBDO India Services Pvt. Ltd is recognized as one of India's leading professional services firms. As part of the global...

Piramal Finance Ltd to Discuss Q1 Results and Fundraising Plans at Board MeetingPiramal Finance Ltd has scheduled a meeting of its Board of Directors for July 16, 2026. The meeting is slated to consider several key matters related to the company’s financial performance and future capital structure.Among the primary items on the agenda are the Unaudited Financial Results (both Standalone and Consolidated) for the quarter ended June 30, 2026. Furthermore, the Board will review a comprehensive proposal regarding raising funds at an appropriate time. This fundraising initiative includes utilizing qualified institutions placement(s), rights issue, preferential allotment or private placement(s), or any combination of these methods...

Apollo Micro Systems Enters Agreement to Acquire 41.33% Stake in Premier Explosives Limited Hyderabad, Telangana - July 09, 2026 - Apollo Micro Systems Ltd has signed a definitive share purchase agreement with Premier Explosives Ltd for the acquisition of Promoter shares, representing a strategic move aimed at bolstering defence and space programmes in India. The transaction involves Apollo acquiring 41.33% of the promoter shares in Premier Explosives Limited (PEL) for approximately INR 1550 Crores, structured as an all cash deal.The agreement brings the two companies together to combine complementary capabilities across defence systems and energetic materials. This synergy is expected to drive operational efficiencies, enhance...

TCS Reports Q1 FY27 Growth; Secures Multiple AI Transformation Deals Amid Strong Market Position Tata Consultancy Services Limited reported its consolidated financial results for the quarter ending June 30, 2026, reflecting continued growth momentum and significant success in securing large-scale AI-led transformation engagements. The company reported revenue of ₹ 72,275 crore for the quarter.Key highlights from the Q1 FY27 performance include:Revenue stood at ₹ 72,275 crore, marking a 2.2% growth Quarter-on-Quarter (QoQ) and 13.9% Year-on-Year (YoY). The company achieved an Operating Margin of 24.0%. Net Income was ₹ 13,849 crore, resulting in a Net Margin of 19.2%.Tata Consultancy Services announced that its Total Contract...

Neuland Laboratories Announces 42nd Annual General Meeting and Integrated Annual Report for FY 2025-26 Neuland Laboratories Limited has scheduled the company's 42nd Annual General Meeting (AGM) to transact business related to its operations and provide stakeholders with the Integrated Annual Report for the financial year 2025-26.The AGM is set to be held on Tuesday, August 4, 2026, at 10:00 a.m. (IST). The meeting will be conducted via Video Conferencing (VC) or Other Audio-Visual Means (OAVM), allowing participation without the physical presence of shareholders at a common venue.The company has made available the Notice of the AGM and the Integrated Annual Report for FY 2025-26 to all shareholders. While electronic copies are being...

Rathi Steel And Power Reports Strong Q1 FY27 Results; Sales Volume Grows 30% While Revenue Exceeds ₹193 Cr Rathi Steel And Power Limited (RSPL), a prominent player in the stainless steel long products and TMT bars sector, has reported robust operational performance for the first quarter ended June 30, 2026. The company recorded significant growth in both sales volume and revenue during the period.The Company posted total sales volumes of 28,372 MT in Q1 FY27, marking a substantial year-on-year increase compared to the 21,864 MT recorded in Q1 FY26. Revenue for the quarter surpassed ₹193 Cr, reflecting a growth rate exceeding 24% over the corresponding quarter of the previous financial year.The company attributed its performance to...