India Market Recap

Indian equity benchmarks extended their gains on Friday, supported by buying in auto and pharma stocks after a subdued start to the session. The BSE Sensex gained 304 points, or 0.4%, to trade at 78,236, while the NSE Nifty 50 advanced 99.85 points, or 0.41%, to 24,417.00. Positive domestic sentiment was also supported by strong overnight gains on Wall Street, where technology stocks continued to outperform. On the technical front, Nifty support is placed in the 24,300–24,400 range, while resistance is seen between 24,600 and 24,700.

US Market Recap

Wall Street extended its rally on Friday as continued strength in large technology companies and semiconductor stocks lifted investor sentiment. The Nasdaq Composite opened 1% higher at 25,383.70, supported by gains in hyperscalers such as Amazon and chipmakers including Micron Technology. The S&P 500 rose 0.62% to 7,483.87, while the Dow Jones Industrial Average advanced 0.42% to 52,429.21. The upbeat momentum followed Thursday's strong close, driven by robust corporate earnings and continued optimism around artificial intelligence-related investments.

Asian Market Update:

Asian markets opened lower on Monday, led by a sharp decline in South Korean equities, despite easing concerns over the Middle East. South Korea's Kospi fell 5.50% after trading resumed, while Japan's Nikkei 225 declined 1.87% and Australia's ASX 200 slipped 0.33%. Investors remained cautious as they assessed the impact of recent geopolitical developments alongside global technology sector valuations.

Commodity Check

Oil prices declined after US President Donald Trump announced that planned military strikes on Iran had been called off, easing immediate concerns over disruptions to energy supplies through the Strait of Hormuz. Brent crude fell $3.52 to $84.41 per barrel, while US West Texas Intermediate (WTI) dropped $3.49 to $81.18 per barrel. The decline reflects improving expectations for a diplomatic resolution, although geopolitical uncertainty remains elevated. Iranian officials maintained a cautious stance, stating that they continue to take security threats seriously despite describing recent US statements as part of a broader psychological pressure campaign.

Stocks In News

• ideaForge Technology: Received in-principle approval from the Technology Development Board for funding of up to Rs 151 crore at 4% interest under the RDI scheme for its Rs 302 crore YETI heavy-lift autonomous aerial logistics vehicle project.
• Park Medi World: Acquired an 80% stake in V3 Healthcare on July 31, 2026.
• Hero MotoCorp: Launched the VIDA VX2 Go FB electric scooter, expanding its EV portfolio with multiple charging options. Prices start at Rs 1.13 lakh.
• PNC Infratech: Received a letter of intent from the Airports Authority of India for an EPC contract worth Rs 302.44 crore for airside and landside development works at Pantnagar Airport in Uttarakhand. The project is scheduled for completion within 24 months.
• Nava: Resumed operations at its ferro alloys plant furnaces from Aug. 1 after maintenance.
• JK Lakshmi Cement: The company and its subsidiary face a writ petition in the Gauhati High Court over the allotment of 3,000 bighas of land. The potential financial impact is Rs 103.16 crore.
• Maruti Suzuki: The board approved four compressed biogas (CBG) projects worth Rs 561 crore.
• JSW Steel: Moody's assigned a Baa3 rating with a stable outlook. Net debt declined to Rs 46,157 crore.
• Lupin: Received U.S. FDA approval for Diazepam Injection USP. The product has estimated annual U.S. sales of $77.9 million.
• Rashtriya Chemicals & Fertilizers: The Department of Fertilizers reduced the energy norm for its Thai unit to 5.984 Gcal/PMT, resulting in an estimated impact of Rs 171.54 crore.
• NCC: Secured three orders worth Rs 1,052.71 crore in July, including Rs 590.38 crore in the Buildings Division and Rs 462.33 crore in the Water Division.
• Mufin Green Finance: Approved a private placement of secured non-convertible debentures worth up to Rs 125 crore.
• ONGC: Received 71.57 lakh shares each in Bharat Ethane One IFSC and Bharat Ethane Two IFSC, maintaining a 50% stake in both joint ventures.
• Shanti Gold: Approved the letter of offer for a rights issue of 46.43 lakh shares at Rs 215 apiece. The issue opens on Aug. 14.
• Welspun Living: Completed the sale of a 51% stake in Welspun Captive Power Generation to Welspun Corp for Rs 67.65 crore. The company has ceased to be a subsidiary and has become an associate.
• MAS Financial Services: Received UIDAI approval to operate as a Sub-AUA and Sub-KUA under Protean eGov, enabling Aadhaar authentication and e-KYC services for two years.
• Aavas Financiers: Sandeep Tandon resigned as chairperson on July 31. V.G. Kannan was appointed chairperson and independent director with effect from Aug. 1.
• SMS Pharma: Reappointed Ramesh Babu Potluri as Chairman and Managing Director for five years. The board also approved a loan of up to Rs 50 crore to subsidiary SMS Peptides.
• Sical Logistics: Executed a master lease agreement worth Rs 70 crore with Tata Capital.
• Cantabil Retail India: Opened eight new stores, taking its total store count to 675.
• Rolex Rings: Completed the extinguishment of one crore shares bought back for Rs 180 crore at Rs 180 per share. The company's equity share capital now stands at 26.23 crore shares.
• State Bank of India: CFO Kameshwar Rao Kodavanti retired on July 31. Sunil Ramgopal Agrawal assumed charge as Chief Financial Officer from Aug. 1.
• Orissa Minerals Development Company: The Supreme Court restored the environmental clearance proposal for the Belkundi mines for reconsideration and processing.
• Skipper: Allotted 92.23 lakh shares on a preferential basis, raising Rs 433.5 crore.
• Bharat Electronics (BEL): Received fresh orders worth Rs 847 crore since July 13.
• Powerica: Signed a power purchase agreement with Gujarat Urja Vikas Nigam to set up a 100 MW wind power project in Gujarat.
• John Cockerill: Marc Dumont ceased to be Chief Financial Officer with effect from July 31. A successor will be appointed later.
• Punjab National Bank: Marginal Cost of Funds Based Lending Rates remain unchanged.
• Life Insurance Corporation of India (LIC): Received a GST demand of Rs 99.1 crore along with interest and a penalty of Rs 9.91 crore from Jharkhand authorities. Separately, received another GST demand of Rs 95.24 crore, along with applicable interest and an equal penalty, from CGST Allahabad for FY19–FY21.
• ICICI Bank: RBI approved the reappointment of Ajay Kumar Gupta as Executive Director for two years from Nov. 27, 2026.
• Welspun Corp: Completed the acquisition of an additional 51% stake in Welspun Captive Power Generation, increasing its holding to 74%.
• CemIndia: Initiated arbitration proceedings against the Inland Waterways Authority of India over disputes related to the Haldia multimodal inland water transport terminal EPC project.
• iValue Infosolutions: Chief Executive Officer Shrikant Manohar Shitole resigned.
• Aarti Drugs: CMD Prakash Patil will retire from Oct. 1. Rashesh Gogri has been elevated as Chairman, Adhish Patil appointed Managing Director and Nilesh Patil appointed Whole-time Director.
• Datamatics Global Services: Subsidiary Lumina Datamatics acquired the remaining 20% stake in TNQ Tech for Rs 206.8 crore, making it a wholly owned subsidiary.
• Zee Entertainment: Shareholders approved the issue of 24.95 crore promoter warrants at Rs 126 each, enabling a capital infusion of Rs 3,143.5 crore. They also approved the grant of 3.74 crore ESOPs.
• InterGlobe Aviation: IndiGo will conclude its wide-body damp lease arrangement with Norse Atlantic Airways on Oct. 25, 2026, while reaffirming its long-term international expansion strategy.
• Chambal Fertilisers: Commenced production of Technical Ammonium Nitrate–Ammonium Nitrate Solution from July 31. Production of prilled High Density Ammonium Nitrate will begin later.
• Aditya Vision: Reappointed Nishant Prabhakar as Whole-time Director for five years from Sept. 22.
• Imagicaaworld Entertainment: Will acquire a 50.002% stake in Mehsana Next Parks for Rs 50 crore. The company will become a subsidiary upon completion of the transaction.
• Dixon Technologies: Reappointed Sunil Vachani as Whole-time Director and Atul Lall as Managing Director for five years from May 2027.
• BSE: Acquired a 3.33% stake in India International Bullion Holding IFSC for Rs 10.1 crore after receiving regulatory approvals.
• Jupiter Life Line Hospitals: Appointed Harshad Purani as Chief Financial Officer. Subsidiary JHPPL acquired a 100% stake in Sulcus for Rs 3.78 crore.
• India Glycols: Akshay Bansal ceased to be Senior Management Personnel and was appointed Executive Director and Key Managerial Personnel of wholly owned subsidiary Ennature Bio Pharma.
• TSF Investments: Approved the acquisition of 2.57 lakh shares, or a 1.05% stake, in Wheels India at Rs 1,518.62 per share on or after Aug. 7.
• Hindustan Zinc: Arun Misra ceased to be Chief Executive Officer and Whole-time Director upon completion of his tenure on July 31.
• Saatvik Green Energy: Subsidiaries approved guarantees worth Rs 160 crore for a 41 MW solar project in Maharashtra and Rs 37 crore for a promoter group entity. They also pledged a 49% stake in IHSPL as security.
• Fiem Industries: Shareholders approved the re-designation of Jagjeevan Kumar Jain as Executive Chairman and Rahul Jain as Managing Director, along with other board-level appointments and reappointments.
• EMS: Will acquire an additional 14% stake in subsidiary Mirzapur Ghazipur STPs for Rs 26.08 lakh, increasing its holding to 74%.
• Entero Healthcare: Wholly owned subsidiary RSM Pharma incorporated Qurovia Lifesciences as its wholly owned subsidiary.
• Blue Dart Express: The board recommended the appointment of Rajat Kumar Jain and Avijit Mukerji as Independent Directors for five-year terms from Sept. 23.
• Puravankara: Provided a corporate guarantee of Rs 211.56 crore on behalf of wholly owned subsidiary Purva Oak for the issuance of Rs 145 crore non-convertible debentures.
• CESC: Subsidiary Purvah Green Power approved the amalgamation of RPSG Energy Services into Purvah Green Power to consolidate its renewable energy business. The transaction will not alter CESC's shareholding pattern.