Good morning!
Indian Stock Market Recap
The benchmarks snapped a two-day losing streak. The NSE Nifty 50 closed 140.10 points, or 0.59%, higher at 24,005.85, while the BSE Sensex gained 443.97 points, or 0.58%, to end at 76,922.64.
US Stock Market Recap
The main US stock market indices opened lower on Wednesday as investors sold chip stocks. This comes after Dow Jones and Nasdaq posted blockbuster first half this year. Nasdaq fell over 234.04 points at open at 25,994.23 level, S&P 500 was down 0.62% to open at 7,453.49, whereas the Dow Jones Industrial Average slipped 0.54% to 52,031.17 shortly after open.
Stocks In News
- Alkem Labs – Received favourable Income Tax appellate orders for AY2018-19 to AY2022-23, deleting disallowances involving tax amount of Rs. 660.77 crore.
- Optiemus Infracom – OEL MD Gururaj Ayekawadi resigned June 30, 2026; Neetesh Gupta appointed MD from July 1, 2026.
- Goodyear India – Goodyear India launched Ultra Grip tractor tire on July 1, 2026.
- SEPC – Board meets July 6, 2026 to consider preferential issue fund raising.
- Route Mobile – Masivian S.A.S. CEO Erwin Viertel resigned effective June 30, 2026.
- Devyani International – Completed additional investment in Restaurants Development Co. (Thailand); conversion of THB 400 million loan into equity in Devyani International DMCC approved, increasing stake to ~56.7%
- L&T – L&T extends stake disposal completion in L&T Metro Rail (Hyderabad) to September 30, 2026.
- TVS Supply Chain Solutions -Vikas Chadha assumed charge as Managing Director from July 1, 2026, for five years.
- EMBASSY DEVELOPMENTS – Board committee meeting scheduled on July 6, 2026 to consider fund raising through issuance of NCDs in one or more tranches
- Mobavenue AI Tech – Through its wholly-owned subsidiary Mobavenue Global Holdings Ltd, incorporated MAITL Asia Pte. Ltd. in Singapore on June 30, 2026, making it a step-down subsidiary of the company.
- JSW Infrastructure: Co. completes Rs 7,503 Crore QIP.
- Satin Creditcare Network: Infomerics Valuation and Rating has reassigned stable outlook rating for the Company’s proposed Non-Convertible Debentures of Rs 750 Crore.
- IOL Chemicals and Pharmaceuticals: CARE Ratings has reaffirmed the Credit Rating for the banking facilities availed by the Company, for Rs 200 crore long term, and Rs 500 crore short term.
- Bharti Airtel: Airtel Money, arm of the company has commenced its commercial operations as a Type II Non-Deposit accepting Non-Banking Financial Company.
- Central Depository Services (India): Sahamati foundation has allotted 10 lk equity shares of Rs. 10 each to company amounting to Rs. 1 crore.
- Adani Energy: Board of Directors approved raising of funds by way of issuance of equity shares having face value of Rs10 each of the Company for an aggregate amount not exceeding Rs 10,000 crore.
- Amagi Media Labs: Amagi Releases June 2026 AIRTIME Report: FAST Viewing Hours Grow 55% YoY as Metadata Friction Escalates
- Latent View: Delay in acquiring remaining 20% of Decision Point
- Borosil: Commences manufacturing unit for vacuum insulated stainless-steel flasks, bottles and containers in the state of Rajasthan through the Company’s arm Stylenest India.
- TCI: CARE assigns A1 rating for company commercial paper
- Bosch: Bosch Chassis Systems India has become Wholly owned subsidiary of the company.
- SAI Parenterals: Company’s arm Noumed Pharmaceuticals had entered OTC medicines Supply Agreement with Australia’s leading pharmacy network, value of Australian Dollars 202 Millions (Rs 1300 crores) for period of 7.5 years.
- Ola Electric: Announced that it registered 43,719 vehicles in Q1 FY27, nearly doubling from 22,252 vehicles in Q4 FY26, according to VAHAN data.
- Lupin: Company received EMA approval to expand NaMuscla’s, adding new pediatric dosage strengths extend its use to children, adolescents, and adults with non-dystrophic myotonic disorders.Lupin Receives EIR from U.S. FDA for its Somerset Facility with VAI Classification
- Coal India: Company announces SWMA E-auction for coal and coal products, Company allocates 41% of 266.23 lakh tonnes quantity offered.
- Jana Small Finance Bank: India Ratings placed bank’s NCDs and fixed deposits on Rating Watch with Negative Implications due to debt rescheduling by promoter entities JHL and JCL.
- Baazar Style Retail: Co has closed the operation of stores of Style Baazar at Patna (Bihar), Dhubri (Assam), Jaunpur and Hata (Uttar Pradesh).
- Studds Accessories: Appointment of Mr. Bharat Goyal, as Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) of the Company.
- Zaggle Prepaid Ocean Services: Company has been empanelled by Canara Bank through Expression of Interest (EOI) for empanelment of Fintech Companies.
- Garware Hi-Tech Films: ICRA appointed stable rating for long term ( fund based) and short term ( Non Fund Based) facilities.
- Aeroflex Industries: Company has further enhanced the production capacity of its liquid cooling SFN skid assemblies from 6,000 pieces per annum to 9,000 pieces per annum.
- Havells: CARE Reaffirmed ratings are not recommendations to sanction, renew, disburse or recall the concerned bank facilities.
- Pidilite Industries: Subsidiary of the company has completed the transfer of its entire shareholding in Buildnext Construction Solutions, pursuant to the Share Swap Agreement entered into between PVPL, JSW One, Buildnext and others.
- Syngene International: announced that Siddharth Mittal has assumed the role of Managing Director and Chief Executive Officer of the Company.
- Prestige Estates Projects: Company is issuing Corporate Guarantee towards loan availed by subsidiary of the Company, loan amount of Rs 450 crore.
- Coal India: Receiving of order for setting up of 600 MW of Plant at Jalaun Solar Park UP, estimated cost of Rs. 2831.11 crore, Time period of 18 months from signing PPA.
- Bharat Petroleum: BPRL Ventures arm of the company as per earlier intimidation has now executed definitive agreements for the acquisition of the entire shareholding of Videocon Energy Brazil in IBV Brazil Petroleo Limitada.
- Aster DM Healthcare: Scheme of Amalgamation between Quality Care India and Aster DM Healthcare Limited and their respective Shareholders and Creditors.Board appointed Varun Khanna MD & Group CEO from 1 Jul 2026;
- Sai Silks (Kalamandir): Company achieved a turnover of Rs. 375 crores during Q1 FY 2026-27, against Rs. 379 Crores in Q1 FY 2025-26, continued its expansion strategy by adding approximately 30,000 sq. ft. of retail space.
- Tata Technologies: Tenneco LLC and Tata Technologies signs agreement for partnership for Mobility Transformation $100 Million Strategic Engagement.
- Lupin: Earlier intimations dated April 01, 2026 and May 29, 2026 by company for acquisition and buyback transactions, shareholding of Nanomi in subsidiary of the company has increased from 56.28% to 99.89%
- Goldiam International: Shareholder approval for issue of bonus equity shares in the ratio of 1:3, to be executed on 10th July 2026.
- L& T Finance: Company has allotted 380 non-convertible debentures of the face value of Rs. 1 cr, on a private placement basis, for cash for an aggregate nominal value of Rs. 380 cr.
- Alembic Pharmaceuticals: Crisil has reaffirmed its Credit Rating on Bank Loan Facilities and Commercial Paper to be stable.
- Paramount Communications Ltd – Approved the Allotment of 2.19cr Equity Shares and 72lk unlisted convertible warrants on preferential basis to non-promoter persons/ entities and Promoters.
- Hero Motocorp: Hero MotoCorp announces Rs 3,200+ crore Andhra Pradesh investment, including Rs 750 crore Tirupati Global Parts Centre, 4,000 jobs.
- Arvind SmartSpaces: Mr. Bhasker Jain has been appointed as Chief Business Officer
- Aster DM Quality Care – Appointed Varun Khanna as MD & Group CEO
- Endurance Technologies – Subsidiary Endurance Overseas SpA increased stake in Germany-based Stoferle GmbH and Stoferle Automotive GmbH to 68% from 60% through acquisition of an additional 8% stake.
- Zee Entertainment– Denied media reports regarding Rs. 418 crore FDI investment by OFI Global China Fund LLC, stating it is unaware of the basis of the news report and that no such investment was made during the referenced period.
- Brainbees Solutions – Approved participation in Swara Baby Products’ proposed IPO through an Offer for Sale of shares worth up to Rs. 300 crore; Swara Baby will continue to remain a subsidiary post IPO.
- Shree Cement – CARE Ratings assigned ‘CARE AAA; Stable’ issuer rating to the company.
- BASF India – Completed divestiture of its entire 100% stake in BASF India Coatings Pvt Ltd for Rs. 230.16 crore; subsidiary ceased to be a wholly owned subsidiary effective June 30, 2026.
- Polyplex Corporation – Board approved not participating in the tender offer for shares of Polyplex (Thailand) PCL (PTL) announced by AGPH (Thailand) Ltd.; the company will retain its 51% stake (direct/indirect) in PTL and not tender its shares.
- ADF Foods – Wholly-owned US subsidiary ADF Holdings received a tariff refund of US$2.1 million (Rs. 19.97 crore) from U.S. Customs and Border Protection, following US Supreme Court directives for refund of excess tariffs collected from importers.
- PNC Infratech – Subsidiary Kanpur Lucknow Expressway Pvt Ltd’s long-term bank facility rating upgraded by CARE Ratings to ‘CARE AA-; Positive’ from ‘CARE A; Stable’ on facilities of Rs. 119.75 crore.
- Ganesha Ecosphere – Independent Director Narayanan Subramaniam resigned from the Board due to personal reasons, effective close of business hours on June 30, 2026;
- Arihant Capital Markets – Received BSE ‘No Adverse Observations’ and NSE ‘No Objection’ for the proposed composite scheme of arrangement, allowing the company to proceed with filing the scheme before NCLT
- Info Edge – Wholly-owned subsidiary SIHL completed the transfer of its entire 26.14% stake in ShopKirana to Trustroot Internet Pvt Ltd (TIPL) and made an additional primary investment of USD 1.72 million in TIPL; consequently, ShopKirana has ceased to be an associate company of SIHL.
- NLC India – Wholly-owned subsidiary NLC India Renewables Ltd received a Letter of Award for setting up 600 MW (2×300 MW) solar power projects at Jalaun Solar Park, Uttar Pradesh, through tariff-based competitive bidding.
- Advent Hotels International – Approved acquisition of 100% of the 10.95 lakh preference shares of subsidiary BD & P Hotels (India) Pvt Ltd for approximately Rs. 10.95 crore, increasing its preference shareholding in the subsidiary to 100%.
- Netweb Technologies – Board approved fund raising of up to Rs. 1,200 crore through issuance of securities.
- Allcargo Terminals – Executed a Shareholders’ Agreement to acquire a 25% stake in Allcargo Group Services Pvt Ltd; upon completion of legal formalities, Allcargo Group Services will become an associate company of the company.
- DOMS Industries – Completed acquisition of the Reynolds brand writing instruments and school supplies business assets for US$ 3.7 million (excluding inventory value); transaction closed on July 1, 2026.
- Zee Entertainment (ZEEL) – Board approved issuance of 24.95 crore warrants to promoter group entity Sunbright Mauritius Investments at Rs. 126 per warrant, raising up to Rs. 3,143.5 crore on a preferential basis.
- HFCL – CARE Ratings upgraded the company’s long-term credit rating to ‘CARE A; Positive’ from ‘CARE A-; Stable’ and short-term rating to ‘CARE A1′ from ‘CARE A2+’, reflecting improved credit profile and creditworthiness.
- Suryoday Small Finance Bank – Received Rs. 387.45 crore claim amount from NCGTC under the Credit Guarantee Fund for Micro Units (CGFMU) Scheme, against interim claims raised by the bank; receipt is in the ordinary course of business.
Business Updates
TL Quarterly Business Report
Sales volume growth of 18% YoY from 1,08,406 MT in Q1 FY26 to 1,18,513 MT in Q1 FY27.
JTL Management Commentary
- Robust Demand and Capacity Utilization are key drivers
- Mangaon facility continued to support higher production and capacity utilization.
- Focus on product mix & operational efficiencies led to strong sales momentum
V2 Retail Quarterly Business Update
- 58% YoY revenue growth despite a higher base in the corresponding quarter last year.
- 7.5% Same-Store Sales Growth in Q1 FY27
- Monthly Sales per Square Foot reached Rs. 886 in Q1 FY27
- Successfully opened 57 new stores and closed 1 store during the quarter
- Expanded the retail footprint to approximately 40.7 lakh sq. ft. across 381
NMDC June Monthly Report
- Production saw a 44% YoY growth from 3.57 MT to 5.15 MT, led by Chhattisgarh Plant
- Sales saw a 11% YoY growth from 3.58 MT to 3.98 MT
Ashiana Housing Quarter Update
- Co. recorded bookings of 234 units in Q1 FY’27
- Successfully launched 140 units each in OMA Phase 1 and OMA Phase 2 during Q1 FY’27.
- Co. acquired a piece of land measuring 28.55 acres in Maharashtra.
- Sales value potential of Rs 1,800 crores.
- Handover commenced for Phase-1 of ‘Ashiana Nitara’ at (Jaipur) during Q1 FY’27.
V Mart Quarter Update:
- Revenue from operations stood at Rs. 1,089 crore Vs Rs. 885 crore, +23% YoY.
- Co. opened 15 stores and closed 1 store, total operating portfolio of 591 stores.
Force Motors Monthly Report:
- Domestic Vehicle sales saw a 26.63% YoY growth from 2801 to 3547
- Exports sales of Vehicles saw a 76.14% YoY growth from 21 to 88
- Total Sales of the company saw a 23.50% growth
Maruti Suzuki June Production:
Co. has a 39.57% YoY growth in Total vehicle manufacturing from 1.27lk to 1.78lk
South India Bank Quarter Updates
Q1FY27 Business Update
- Gross Advances grew 17.0% YoY to Rs. 1,04,366 crore from Rs. 89,198 crore.
- Total Deposits increased 11.4% YoY to Rs. 1,25,786 crore from Rs. 1,12,922 crore.
- CASA Deposits rose 14.6% YoY to Rs. 41,493 crore from Rs. 36,204 crore.
- CASA Ratio improved by 93 bps YoY to 32.99% from 32.06%.
Indian Bank June Updates
- Total Deposits increased 13.3% YoY to Rs. 8.43 lakh crore.
- Savings Bank Deposits rose 12.9% YoY to Rs. 2.70 lakh crore.
- Current Account Deposits grew 26.3% YoY to Rs. 0.48 lakh crore.
- Domestic CASA Ratio improved 67 bps YoY to 39.64%.
- Gross Advances increased 13.9% YoY to Rs. 6.85 lakh crore.
- Domestic RAM Advances grew 14.8% YoY to Rs. 4.17 lakh crore.
Canara Bank June Updates
- Global Deposits grew 11.7% YoY to Rs. 16.13 lakh crore
- Domestic Deposits increased 10.1% YoY to Rs. 14.73 lakh crore
- Global Advances surged 18.0% YoY to Rs. 12.93 lakh crore
- Domestic Advances grew 16.9% YoY to Rs. 12.07 lakh crore
J&K Bank – Q1FY27 Business Update
- Total Deposits increased 16.8% YoY to Rs. 1,73,420 crore.
- Gross Advances rose 25.5% YoY to Rs. 1,30,576 crore.
- CASA Deposits grew 7.5% YoY to Rs. 72,979 crore.
- CASA Ratio moderated to 42.08% from 45.71% YoY (down 363 bps).
Corporate Actions
Gujarat Energy Ltd Demerger
Board Meetings
IRB InvIT Fund – Fund Raising
Lock in Shares
Ellenbarrie Industrial Gases: 6 Month Lock in, 68 Million Shares, 48% of Total Outstanding
IPO Listings
CSM Technologies: CMMI Level-5 IT consulting and GovTech company, IPO listing on 2nd July 2026, Issue Price Rs 113
AGM
Tata steel
Laurus Labs
Piramal Finance
Bulk Block Deals
Saksoft: Irage Broking Services LLP brought 4.37 lk shares at price Rs 209.5
Skipper: Ventex Trade acquired 8.49 lk shares, Utsav Ispat disposed 8.49 lk shares
Motisons Jewellers: Arihant Capital Markets bought 13.77 lakh shares at Rs 14.30;
Shanti Gold International: Arihant Capital Markets sold 1.12 lakh shares at Rs 221.55;
Paisalo Digital: PSL bought 63.03 lakh shares at Rs 66.73.
Insider Trade
Axiscades Technologies: Jupiter Capital Private Limited (Promoter) sold 10 lk shares.
Network People Services Technologies: Deepak Chand Thakur (Promoter & Director) bought 98,064 shares; Ashish Aggarwal (Promoter & Director) bought 60,982 shares;
Savita Vashist (Promoter & Director) sold 1.64 lk shares.
Indo Tech Transformers: Shirdi Sai Electricals (Promoter) sold 6 lk shares.
Aarti Pharmalabs: Safechem Enterprises Private Limited (Promoter Group) sold 65,000 shares.
Maharashtra Seamless – Saket Jindal (Promoter) sold 16.29 lk shares;
Odd & Even Trades & Finance Limited (Promoter Group) bought 16.59 lk shares.
Goodluck India – Manish Garg and Sons HUF (Promoter Group) sold 76,200 shares; Ashish Garg and Sons HUF (Promoter Group) sold 78,930 shares; Munni Lal and Sons HUF sold 1.10 lk shares; R C Garg and Sons HUF sold 48,554 shares; Manish Garg sold 2.90 lk shares; Ashish Garg sold 50,000 shares; Dhruv Aggarwal sold 1.60 lk shares.
Ravindra Energy – Abhay Wadhwa (Promoter Group) sold 27,777 shares.
Paradeep Phosphates – Zuari Maroc Phosphates Private Limited (Promoter) bought 2.90 lk shares
Confidence Petroleum India – Confidence LPG Bottling Private Limited (Promoter Group) bought 28 lk shares.
Aurum PropTech – Aurum RealEstate Developers Limited (Promoter) bought 30,000 shares.
KCP – VRK Grandsons Investment Ltd (Promoter Group) bought 35,000 shares.
Trading Tweaks
Price Band change from 10% to 5%: Standard Engineering Technology
Price Band change from 5% to 20%: Vikram Solar
Price Band change 5% to 20%: Gujarat Energy, Prakash Pipes
Short Term ASM
List of securities shortlisted in Long – Term ASM Framework Stage: Astra Microwave Products, Exicom Tele-Systems, Premier Explosives and Raghav Productivity Enhancers.
List of securities shortlisted in Short – Term ASM Framework Stage: GNG Electronics
List of securities to be excluded from ASM Framework: ESAF Small Finance Bank, NELCO, The New India Assurance Company, Panama Petrochem, S. P. Apparels and TIL.
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F&O Cues
- Nifty July futures is up 0.3 % to 24082 at a premium of 78 points.
- Nifty Options Maximum Call open interest at 24000 and Maximum Put open interest at 24000
- Securities in ban period: Nil
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