Markets

India Service Sector Plunges to 17-Month Low as Growth Momentum Moderates India’s services activity registered a sharp slowdown in June, falling significantly to 57.4. This reading marks a 17-month low for the sector, down from the stronger performance seen in May when the index stood at 59.8, according to the latest HSBC PMI data analysis. Although a result above 50 still indicates sector expansion, the substantial decline points towards a clear moderation of growth momentum in this crucial pillar of the Indian economy.Sharp Decline Hits Services Sector The June print represents one of the weakest expansions observed in the services sector since January 2025, where the index was recorded at 56.5. The deterioration in services...

Optimus Finance Ltd Clarifies Stock Price Movement, States Market Conditions Are the Driver Optimus Finance Ltd has issued a clarification regarding the significant movement observed in its stock price. The company confirmed that it has made all necessary disclosures in a timely and transparent manner concerning its operations and performance.The company stated that it has not withheld any material information or events that would affect the operation or performance of Optimus Finance Ltd, including all price sensitive information. Furthermore, Optimus Finance Ltd confirmed that there is no pending announcement or internal information that could bear upon the stock's price behavior.Optimus Finance maintained that the movement in the...

Krystal Integrated Services Land Major Contract for Cleaning and Sanitation Services in Andhra Pradesh Krystal Integrated Services Limited, formerly known as Krystal Integrated Services Private Limited, has secured a significant contract to provide cleaning and sanitation services across numerous hostels in Andhra Pradesh. The company received the work order from The Director of Backward Classes (BC) Welfare Department, Andhra Pradesh.The agreement involves providing comprehensive facility management services, specifically Cleaning & Sanitation Services (Men & Material), covering BC Welfare Hostels located in Multi Zone - II. These hostels are spread across thirteen districts within Andhra Pradesh and total 563 facilities.The...

Dilip Buildcon Limited Receives Provisional Completion Certificates for Bengaluru-Vijayawada Expressway ProjectsDilip Buildcon Limited has secured Provisional Completion Certificates for two major infrastructure projects, namely the Bengaluru-Vijayawada Expressways—Package 1 and Package 4. The achievement marks a significant operational milestone for the company in the ongoing development of vital economic corridors.The certificates cover the "Development of Six-Lane Access Controlled Greenfield Highway from Kodur (Ch. 0.000) to Vanavolu (Ch. 24.300) [NH-544G] Bengaluru - Vijayawada Economic Corridor" under Bharatmala Pariyojana Phase-I, as well as Package 4 of the Bengaluru-Vijayawada Expressway. Both projects are structured under...

Kotak Sounds Alarm: Valuation Disconnect Plagues Indian Markets Despite Two Years of Flat Returns The state of the Indian equity market has been characterized by a significant divergence between underlying business fundamentals and prevailing valuations, according to the latest strategic assessment from Kotak Institutional Equities. The brokerage asserts that for the past two years, the market has delivered virtually zero returns. This lackluster performance is being driven primarily by elevated valuations relative to both earnings and overall business quality, rather than concerns surrounding Artificial Intelligence (AI) or geopolitical instability.Kotak notes that external capital dependence and technological reliance present...

Manisha Vikaskumar Saraf Receives 8,00,000 Convertible Warrants in Callista Industries Ltd Manisha Vikaskumar Saraf has been allotted 8,00,000 Convertible Warrants of Face Value Rs. 10/- each in Callista Industries Ltd. The allotment occurred on June 30, 2026.The acquisition pertains to the shares of Callista Industries Ltd (Scrip Code: 539335). As per records, Manisha Vikaskumar Saraf holds no status as a Promoter or as part of the Promoter group in the target company.Regarding the details of this transaction, the allotment marked a significant increase in holding for the acquirer. Prior to the current acquisition, the acquirer held 18,00,000 instruments entitling them to receive shares carrying voting rights. The recent...

Bitcoin Surges Above $60k on Dampened Fed Hopes, Signals Shift in Broader Risk Sentiment Bitcoin witnessed a notable rally in early trading on July 3rd, pushing the cryptocurrency past crucial psychological barriers. The surge was fueled by evolving risk sentiment across global markets after weaker US jobs data subsequently reduced expectations for immediate Federal Reserve rate cuts. Bitcoin is currently showing strong upside potential despite ongoing market caution.Technical Movement and Key Price Levels Bitcoin climbed 1.34 percent towards $61,500 (as of 10:34 IST) in the last 24 hours. Over a one-week period, the digital asset has seen a more robust increase of 2.84 percent.Analysts suggest that this rally should be viewed as a...

Power Sector Shakeup: CG Power and Hitachi Energy Plunge as Centre Allows Chinese Firms to Bid on Govt Projects Shares of two key power equipment firms, CG Power and Hitachi Energy, saw significant declines following the government's decision to allow four specifically identified Chinese-linked manufacturers to bid for critical public power projects. The development, confirmed by an order from the Ministry of Finance dated June 24, has sent ripples through the Indian energy stock market.Allowing Chinese Firms to Bid on Government Tenders The exemption permits TBEA Energy, Nanjing Electric India, New Northeast Electric India, and Taikai Electric (India) to participate in government tenders for critical power infrastructure. The order...

TVS Motor Completes Asset Transfer of TVS EBike; Subsidiary Structure Remains Unchanged TVS Motor Company Limited has confirmed the completion of the transfer of certain assets and liabilities belonging to its subsidiary, TVS EBike Company AG. The transaction was finalized on July 2, 2026, following an Asset Transfer Agreement established among key entities in the group.The transfer involved TVS EBike Company AG (TVS EBike), a step-down wholly owned subsidiary of the company. The assets and liabilities were transferred to Callista Asset Management 33 GmbH (Callista AMG). This completion marks the execution of the Asset Transfer Agreement, which was originally dated May 14, 2026, and involved TVS Motor (Singapore) Pte. Ltd (TVSM...

Shree Renuka Sugars Ltd Appoints Kwek Ju-Yang Mark as Additional Director Shree Renuka Sugars Limited has appointed Mr. Kwek Ju-Yang Mark as an Additional Director (Non-Executive Non-Independent) to its Board of Directors, effective July 2, 2026. The appointment was made following a resolution passed by the Company's Board of Directors.Mr. Kwek will hold office in this capacity until the next General Meeting of Shree Renuka Sugars Limited, which is scheduled to take place within three months from the date of his appointment.The appointment was approved after considering that Mr. Kwek is not debarred from holding directorial office by any SEBI order or other authority. The Board and the Nomination and Remuneration Committee noted...

Deepak Builders Secures Rs 548.70 Crore EPC Project for Shri Krishna Ayush UniversityDeepak Builders and Engineers India Limited has received a Letter of Acceptance for a significant Engineering, Procurement, and Construction (EPC) project at Shri Krishna Ayush University in Kurukshetra, Haryana. The contract is being awarded by the Haryana State Industrial & Infrastructure Development Corporation Limited (HSIIDC).The successful award follows Deepak Builders’ previous emergence as an L1 bidder for the project. The scope of work covers various aspects of infrastructure development and allied estate services required by the university.The EPC project involves comprehensive civil, MEP, horticulture, and site development works. The...

Sanofi India Secures Favorable Income Tax Order, Demand of Rs 72 Lakh DroppedSanofi India Limited has secured a favorable decision from the Commissioner of Income tax Appeal - 49, Mumbai regarding its assessment for Assessment Year 2019-20. The Income Tax Department order dropped proceedings initiated under Section 201 of the Income-tax Act, 1961 ('the Act'), deleting a demand amounting to Rs 72,71,510.The company received the Order from the authority on July 02, 2026. This outcome follows an appeal filed by Sanofi against an earlier order which had determined a demand of Rs 72,71,510. The original action involved treating the Company as an 'assessee in default' for non-deduction of taxes on year-end provisions.The Commissioner of...

Deepak Builders & Engineers Secures Major EPC Project at Shri Krishna Ayush University Deepak Builders & Engineers India Limited has secured a significant project contract, having received the Letter of Acceptance from the Haryana State Industrial and Infrastructure Development Corporation Limited (HSIIDC). The project involves construction work for Shri Krishna Ayush University in Kurukshetra, Haryana.The project spans infrastructure development, including all civil and MEP services, horticulture, and site development works for the university on an EPC basis.Details regarding the contract awarded by HSIIDC are as follows:Project ScopeCost of ProjectTenure of ProjectConstruction of various buildings infrastructure and allied...

IDBI Trusteeship Holds 50.1% Encumbrance Over Hindustan Zinc Shares as Collateral for Vedanta Group Financing IDBI Trusteeship Services Limited, acting in its capacity as Security Trustee, holds a substantial encumbrance over equity shares of Hindustan Zinc Limited (HZL). This holding is linked to a financial assistance facility provided to Ferro Alloys Corporation Limited (FACOR), a subsidiary of Vedanta Limited.The trustees are managing the collateral related to the facility agreement executed between FACOR and a consortium of banks. The total amount of the financial assistance is INR 1624,00,00,000/-.As per the terms of the Facility Agreement dated June 30, 2026, Vedanta Limited has committed to providing a corporate guarantee in...

Western Overseas Study Abroad Ltd Partners with RACUS Group for Student Recruitment in Russia Western Overseas Study Abroad Limited has entered into an agreement with the RACUS GROUP, a collective of Russian State Universities based in Saint Petersburg. The partnership is set to support the company's operations in the overseas education consultancy sector.Under the new arrangement, Western Overseas Study Abroad Ltd has been granted authorization to serve as a representative for the Group of Russian State Universities. This role involves attracting and recruiting citizens of India who wish to pursue higher education at the specified institutions within Russia. Furthermore, the company will manage the preparation and transfer or sending...

Zee Media Corporation Acquires in Transaction Involving another Zee Entity Zee Media Corporation Ltd has undertaken a transaction involving an acquisition of another entity. The acquiring company is Zee Media Corporation Ltd, and the target company in this matter is also Zee Media Corporation Limited.The corporate action involves Zee Media Corporation Ltd and its interaction with Zee Media Corporation Limited. This activity pertains to the acquisition process.ZEEMEDIA Stock Price Movement Shares of Zee Media Corporation Limited are shedding value, currently trading at ₹8.56 as of 10:50 AM after slipping by 0.70%. Trading activity stands at 747,626 shares as the equity nears its intraday low of ₹8.52.

Franklin Templeton Sells Shares of Somany Ceramics Ltd in Open Market Transaction Franklin Templeton Mutual Fund (FTMF) has sold a portion of its stake in Somany Ceramics Ltd through an open market transaction. The sale was completed on June 30, 2026.Prior to the disposal, FTMF held 1,271,036 shares or 3.099% of the total voting capital of Somany Ceramics Ltd. This holding was derived from multiple schemes managed by the fund.The sale involved a total of 1,30,500 shares, representing 0.318% of the company's total diluted share capital at the time of disposal. The transaction took place in the open market.Following the disposition, FTMF's holding has decreased to 1,140,536 shares, which accounts for 2.781% of the total voting...

Hi-Tech Pipes Limited Reports Highest Ever Quarterly Sales Volume of 1,56,136 MT in Q1FY27 Hi-Tech Pipes Limited, a leading Indian manufacturer specializing in ERW steel pipes, announced strong sales volume performance for the first quarter of FY27. The company reported achieving a sales volume of 1,56,136 MT in Q1FY27.The results show significant growth across comparative periods. Compared to Q1FY26, when sales were 1,24,027 MT, the company recorded a year-on-year (YoY) growth of 26%. On a quarter-on-quarter (QoQ) basis, sales volume increased by 6% from the 1,47,127 MT achieved in Q4FY28.This robust growth was attributed to sustained demand across key sectors, including infrastructure, construction, and engineering segments. The...

NCLT Sanctions Scheme of Amalgamation Merging Three Companies into JSW Steel Ltd The National Company Law Tribunal (NCLT) has sanctioned a Scheme of Amalgamation involving three companies—Amba River Coke Limited, Monnet Cement Limited, and JSW Retail and Distribution Limited—into JSW Steel Limited. The order, pronounced by the NCLT on July 2, 2026, allows for the consolidation of these entities into the manufacturing giant, streamlining operations and creating a unified group structure.The Scheme involves the amalgamation of Amba River Coke Limited (Transferor Company 1), Monnet Cement Limited (Transferor Company 2), and JSW Retail and Distribution Limited (Transferor Company 3) with JSW Steel Limited (the Transferee Company)...

DMart Stock Plummets 4% as Q1 Update Signals Slower Growth, Brokers Maintain Cautious Stance Avenue Supermarts (DMart), the operator of the rapidly expanding retail chain, saw its shares decline over 4 percent in Friday's morning trade. The slump came after the company released a business update for the April-June quarter that was softer than anticipated by the market. Brokerages like Goldman Sachs and Macquarie reaffirmed their negative outlook on the stock following the Q1 results.DMart’s shares, trading at Rs 4,016.50, experienced a notable decline in morning trading despite the company's overall performance. The company maintains a substantial market capitalization of Rs 2.62 lakh crore. On a positive note, the stock remains up...