Markets

Sensex Surge: Market rallies as Easing Fed Rate Hike Bets Fuel Robust Gains Across India Equity markets saw a positive trend at the open on July 3, with key benchmarks rising as concerns surrounding near-term interest rate hikes by the Federal Reserve began to subside. The sentiment shift provided a strong tailwind, encouraging increased risk appetite across global emerging markets, benefitting Indian equities significantly.Market Performance and Domestic Gains The Sensex closed out the morning strongly at 78,000.81, marking an increase of 498.69 points or 0.64 percent. Concurrently, the Nifty registered a gain of 157.35 points or 0.65 percent, settling at 24,333.05.In domestic stock activity, fifteen out of the sixteen major...

Engineered Fabrics Maker Kusumgar Sets Price Band for ₹4,400 Crore IPO Mumbai's engineered fabrics specialist, Kusumgar, has finalized the price band for its Initial Public Offering (IPO), setting the offering at Rs 398-419 per share. The public issue is scheduled to commence on July 8 and close on July 10.The IPO, with a total size of Rs 650 crore, represents an Offer For Sale (OFS) exclusively by the promoters: Siddharth Yogesh Kusumgar, Sapna Siddharth Kusumgar, and Siddharth Yogesh Kusumgar HUF. This means all net proceeds from the public issue will be received by these selling shareholders.IPO Structure and Retail Investor Allocation Investors can acquire a minimum of 35 equity shares in multiples of 35 thereafter. At the upper...

Rupee Snaps Losing Streak as Soft US Jobs Data Sinks Dollar Index The Indian rupee registered a notable turnaround on July 3, gaining 19 paise and breaking its four-day losing streak. The currency strengthened amid signs of slowing global economic momentum, specifically following weak jobs data released from the United States.The local currency traded at Rs 95.20 per dollar in the trading session, marking a clear improvement from the previous close of Rs 95.39 per dollar. This movement was driven by the decline in US Dollar strength as the market reacted to diminished expectations regarding near-term interest rate hikes by the Federal Reserve.Weak US Payrolls Lead to Dollar Retreat The primary driver for the currency move was the...

Overnight and Term Money Markets See Significant Activity as RBI Manages Liquidity Absorption The Reserve Bank of India (RBI) released detailed data regarding its Money Market Operations (MMO) for July 02, 2026. The operations underscore active management of liquidity across both the overnight and term segments, with the central bank maintaining close watch over the net injection status in the financial system.Activity in Overnight and Term Money Markets The total volume recorded in the overnight segment reached ₹6,77,082.16 Crore. This activity was conducted within a wide rate range of 0.01% to 5.98%, with the weighted average rate standing at 5.11%.Within the Call Money market, transactions totaled ₹16,996.11 Crore, exhibiting a...

Marathon Nextgen Realty Secures ₹450+ Crore Versova Redevelopment Project Marathon Nextgen Realty Limited has entered the society redevelopment sector with a significant project in Mumbai. Its subsidiary, Sunset Spaces Private Limited, recently executed a Development Agreement for the redevelopment of an existing residential society located in Versova.The agreement involves repurposing an existing residential society situated on approximately 1.5 acres. The project carries an estimated Gross Development Value (GDV) and revenue potential exceeding ₹450 crore, subject to the receipt of necessary approvals, final plans, applicable regulations, and market conditions. This move marks MNRL’s entry into the domain of society redevelopment...

Rupee Gains 18 Paise as Weak Dollar Sways Market, Boosting Asian Currency Sentiment The Indian rupee has shown resilience in early trading, opening higher against the US dollar. This positive movement is largely attributed to a weaker performance by the dollar following a tepid U.S. jobs report. The market's anticipation of delayed rate hikes from the Federal Reserve provides underlying support for currency values globally.The rupee opened at 95.21, recording a gain of 18 paise against the US dollar on Friday, an improvement from the previous close of 95.39. Market expectations suggest that the rupee is likely to trade within the range of 94.80 to 95.50.Rupee Outlook Amid Dollar Weakness If supply does not outstrip demand, the...

Unichem Laboratories Ltd Reports 100% Export Contribution in Business Sustainability Report Unichem Laboratories Limited has provided its Business Responsibility and Sustainability (BRSR) Report for the financial year spanning April 1, 2025, to March 31, 2026, detailing operations, workforce metrics, and adherence to environmental standards. The company's business activities are predominantly focused on manufacturing pharmaceutical products.Operational Profile and Market Reach Unichem Laboratories Limited is involved in the manufacture and sale of pharmaceutical products, constituting 100% of its turnover. Its primary product line includes the manufacture of Allopathic Medicines, which accounts for all of the company’s total turnover...

HCLTech Secures Massive $1.14B AI Deal to Drive Enterprise Digital Transformation with Global Fortune 50 Company HCLTech has secured a landmark $1.14 billion strategic contract from a European-headquartered Fortune Global 50 company. This mega deal places the Indian IT services firm at the forefront of enterprise modernization, focusing on transforming the client’s digital workplace and global enterprise network operations using an advanced AI-driven operating model.The agreement represents one of the largest single deal announcements by an Indian IT services provider this year, reinforcing HCLTech's commitment to high-value digital transformation projects.Scope and Timeline of the Landmark Contract The contract details a lengthy...

Bank of Baroda Faces Q1 Earnings Hit Despite $600M NMC Settlement as Litigation Ends Legal Dispute Concluded: BoB Reaches Out-of-Court Settlement with NMC Bank of Baroda (BoB) has concluded a protracted legal battle by agreeing to an out-of-court settlement valued at $600 million, which is equivalent to approximately Rs 5,700 crore. This agreement brings to a close the dispute involving the joint administrators of NMC Health PLC, NMC Healthcare Ltd and NMC Holding Ltd.The lender's stock had seen volatility following the announcement. It closed in the previous session at Rs 259.85 after declining by 4.3 percent. The bank currently holds a market capitalization of about Rs 1.34 lakh crore.Nomura Flags Potential Drag on Q1...

Gold Price Surges on US Dollar Weakness: Precious Metals Rally as Job Report Dampens Fed Rate Hike Hopes Bullion prices saw a significant uplift in early trade today, fueled by weakening global sentiment surrounding the US dollar. This rally is predominantly driven by market expectations regarding future interest rate movements.The softer-than-expected June jobs report caused doubts about aggressive near-term Federal Reserve rate hikes. This shift immediately supported precious metals as investors sought safe-haven assets against currency volatility.Global Spot Prices See Major Rally On the international markets, gold demonstrated robust strength in morning trading on Comex. Gold traded up 1.57 percent, reaching $4,190.40 per ounce...

Adani Enterprises Surges Demand as Share Sale is Doubled to $1.6 Billion Amid Strong Institutional Appetite Adani Enterprises Ltd has significantly increased the size of its institutional share sale, raising it from 100 billion rupees to 150 billion rupees ($1.6 billion). This escalation was prompted by exceptional demand received across both global and domestic investment communities. The flagship company's offering saw a robust subscription rate of 1.5 times on Friday, according to details reviewed by Bloomberg.Escalating Share Sale Reaches $1.6 Billion Milestone The ports-to-power conglomerate, led by billionaire Gautam Adani, launched the share sale on Thursday. It offered up to 34.7 million shares to institutional investors at an...

Mobavenue AI Tech Ltd Completes Registered Office Change from Madhya Pradesh to Maharashtra Mobavenue AI Tech Ltd, formerly known as Lucent Industries Limited, has successfully completed a change in its registered office. The move reflects a transition of the company’s operational base from Madhya Pradesh to Mumbai, as certified by the Registrar of Companies (ROC) in Mumbai.The registration of the office change was formalized on July 2, 2026. This alteration, which moved the corporate location outside the jurisdiction of the previous ROC Gwalior, was confirmed through an order issued by the Regional Director on May 27, 2026.The company’s registered address details have been updated as follows:StatusState/LocationRegistered...

Fuel Shortage Crisis: Nayara Gasoline Seized by Traders to Meet Russia's Demand Indian Refiner Sells Petrol to Russia Amid Global Energy Instability Sources with direct knowledge of the matter confirmed on Thursday that gasoline produced by the Indian refiner, Nayara Energy, has been sold to Russia. This move comes as Russia faces significant fuel shortages, exacerbated by Ukrainian attacks targeting its energy infrastructure.Reuters reported on Wednesday that seaborne imports of gasoline from India had commenced into Russia, though the supplier was not named in the initial report. The implication suggests a critical supply chain adaptation responding to geopolitical pressures.Nayara Energy, which is backed by Russian oil major...

Regulator Greenlights Paytm Europe: Licensuree to Offer Broader Payment Services in EU Market Licensing Milestone Achieved for Paytm Europe Paytm's European arm, Paytm Europe Payments SA (Paytm Europe), has secured a significant operational boost with the granting of a payment institution license by Luxembourg's Commission de Surveillance du Secteur Financier (CSSF). This development marks a crucial regulatory approval for One 97 Communications, which is the parent company of Paytm.The stock exchange filing confirmed that Paytm Europe was informed by the CSSF on Tuesday regarding this authorization. The company has been officially registered as a payment institution on the regulator's list, effective from July 2, 2026.Scope and...

Miten Sampat Takes Reins at Cred as Meta Invests $900 Million Amid Leadership Shift Miten Sampat has been appointed interim CEO of CRED following the transition of Kunal Shah to a global role at Meta. This landmark leadership change comes amid substantial fresh capital injection, with Meta confirming an investment of $900 million in the fintech company. The appointment sees Sampat inheriting a company that quietly built its financial services foundation and recently achieved a profitable quarter, underscoring CRED's deep talent density and strong operational execution.Leadership Transition at Cred and Role of Miten Sampat The leadership of CRED is entering a new chapter as Sampat steps in after Kunal Shah accepted the role of Global...

Tulive Developers Announces Exit Offer Ahead of BSE Delisting, Sets Share Price at ₹ 750/- Tulive Developers Ltd has launched an Exit Offer inviting Residual Public Shareholders to tender their Equity Shares in response to the company's delisting from BSE. The Acquirers have set the final Exit Price for the shares at ₹ 750/- per Equity Share, signaling a definitive move towards delisting from the stock exchange.The company is facilitating this exit opportunity after the successful completion of a Delisting Offer initiated earlier in the year through a reverse bookbuilding process. The Acquirers, which include Altis Properties Private Limited and GKS Technology Park Private Limited, have accepted the Discovered Price as the final Exit...

Mach Travel Solutions Decides on Voluntary Quarterly Financial Reporting Starting Q1 FY27 Mach Travel Solutions Limited (formerly known as Mach Conferences and Events Limited), a technology-enabled travel solutions company listed on the BSE SME Platform, has announced that it will voluntarily publish its quarterly financial results starting from Q1 FY27. This decision elevates the company's commitment to enhanced corporate governance, greater transparency, and proactive engagement with shareholders and the investment community.The move represents a voluntary step beyond the prescribed regulatory requirement for companies listed on the SME Platform, which mandates half-yearly result publication. The initiative is driven by the...

Paytm Europe Grants Payment Institution License from CSSF, Validating Scope of Services One 97 Communications Limited announced that its Luxembourg-based subsidiary, Paytm Europe Payments S.A., has been granted a payment institution license by the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg. The licensing approval came into effect on July 02, 2026.The authorization was granted to Paytm Europe regarding the provision of specific financial services within the payment sector. The company, which is a step down wholly owned subsidiary of One 97 Communications Limited, has been registered on the payment institutions official list maintained by CSSF.According to details provided in Form A, the scope of the license...

ICRA Upgrades and Assigns Credit Rating for SPML Infra Instruments Valued at 1,595 Crore ICRA has upgraded and assigned credit ratings for various instruments belonging to SPML Infra Limited, encompassing long-term fund based and non fund based facilities. The rating actions were issued by ICRA on July 2, 2026.The updated ratings cover a portfolio of debt instruments totaling 1,595.00 crore across different types, including term loans, non fund based facilities, cash credit, and proposed fund based facilities.Key details regarding the rating actions for SPML Infra’s instruments are provided in the table below:InstrumentAmount (Rs. in crore)Rating ActionLong term fund based Term Loan380.00[ICRA]BBB(Stable), upgraded from...

GIFT Nifty Jumps 150 Points as Easing Rate Fears Fuel Rally Ahead of Mixed Global Markets GIFT Nifty surged by over 150 points in pre-market trading on Friday morning. This strong opening signal suggests that Indian benchmark indices, Sensex and Nifty, are set for solid gains. The momentum is buoyed by softened expectations regarding near-term US interest rate hikes, coupled with stable crude oil prices and an improved global risk appetite.The sentiment shift arrived despite continued pressure in the technology sector, where semiconductor stocks registered noticeable weakness across global markets. Indian benchmark indices closed higher for a second consecutive session on Thursday, driven by broad-based buying activity across various...