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India Market Recap

Indian equity benchmarks ended lower on Friday amid profit booking, although both indices recorded their second consecutive weekly gain. The NSE Nifty 50 declined 65.35 points, or 0.27%, to close at 24,570.65, while the BSE Sensex fell 455.59 points, or 0.58%, to settle at 78,499.17. Despite Friday's weakness, both benchmark indices gained around 0.5% for the week, supported by resilient domestic flows and selective buying in large-cap stocks. Energy markets remained a key focus as uncertainty persisted over efforts to restore normal shipping through the Strait of Hormuz. Brent crude rose 1.4% to $83.65 per barrel, with the absence of a lasting agreement keeping concerns over Middle East oil supplies elevated. On the technical front, Nifty support is placed in the 24,400–24,500 range, while resistance is seen between 24,700 and 24,800.

US Market Recap

Wall Street ended higher on Friday after weaker-than-expected US jobs data strengthened expectations that the Federal Reserve may refrain from raising interest rates in the near term. The Nasdaq Composite outperformed, gaining 0.92% to 26,589.39, supported by strength in technology stocks. The S&P 500 advanced 0.37% to 7,738.61, while the Dow Jones Industrial Average edged 0.06% higher to 53,919.68. Softer labour market data improved investor sentiment by reinforcing hopes of a more accommodative monetary policy outlook.

Asian Market Update

Asian markets traded mostly higher on Monday, taking cues from Wall Street's record close at the end of last week. Japan's Nikkei 225 climbed 1.62%, while South Korea's Kospi gained 1%. Australia's S&P/ASX 200 was the exception, slipping 0.25%. Investor sentiment remained supported by expectations of stable US interest rates, although ongoing uncertainty surrounding US-Iran negotiations and elevated oil prices continued to keep geopolitical risks in focus.

Commodity Check

Crude oil prices moved higher as markets continued to assess developments surrounding the US-Iran conflict. Brent crude rose 1.10% to $84.47 per barrel, while US West Texas Intermediate (WTI) gained 0.86% to $78.85 per barrel. Market sentiment remained volatile after US President Donald Trump said Washington was "semi-negotiating" with Iran while maintaining economic pressure, although later reports suggested the administration had opted to de-escalate tensions for now.

In the precious metals market, 24-karat gold rose to Rs.1,52,160 per 10 grams, while Silver 999 Fine traded at Rs.2,32,660 per kg, reflecting continued demand for safe-haven assets amid geopolitical uncertainty.

Stocks In News

NMDC: Fixes prices of lump ore at Rs. 5,250 per tonne and fines at Rs. 4,500 per tonne.
Dr Reddy's Labs: Terminates pact with Novartis India for distribution and select product sales in the Indian market. Termination follows a change in Novartis' shareholding.
Universal Cables: Increases outlay for capacity expansion project to Rs. 617 crore from Rs. 550 crore. To augment JV's optical fibre production capacity with Rs. 4,800 crore outlay. Appoints Nishant P Saigal as CFO from Oct. 21. Gopal Agarwal resigns as CFO with effect from Sep. 30.
Coal India: Commences operations of part capacity of 200 MW solar project at Khavda. Total capacity of Khavda solar power project is 300 MW.
Max Healthcare: NCLT directs BRS Capital to file additional affidavit with respect to case involving arm Kalinga Hospital. NCLT directs BRS Capital with respect to interlocutory petition filed against the arm. Company had questioned maintainability of the interlocutory petition on the ground of an incorrect postal ballot notice annexed with the application. NCLT says defect was procedural in nature.
ICICI Lombard: I-T body erroneously adjusts Rs. 97 crore refund against AY15-16 demand reassessment order. Company sees no financial impact of refund order.
Honasa Consumer: Dubai Cassation Court orders Rs. 4.4 crore compensation to RSM General Trading in case between company and RSM. Compensation relates to material and moral damages. Cassation Court upholds Court of Appeals' judgement and dismisses appeals by both companies. Company sees no financial impact of order on operations or financials.
Emcure Pharma: US FDA classifies Sanand unit inspection as VAI. Alert: VAI is Voluntary Action Indicated. US FDA inspection at Sanand facility stands closed. US FDA inspected Sanand unit from May 6 to 15.
Digitide Solutions: Subsidiary hit by cybersecurity incident after alleged unauthorised access triggered a cyber probe. Company activates cyber incident response protocol. Investigation is underway into alleged data breach. No material operational impact identified so far.
AstraZeneca Pharma: Gets CDSCO nod to sell trastuzumab deruxtecan, which is used to treat breast cancer.
Vedanta Iron: Ranchi tax body alleges Rs. 51 crore excess ITC availed in FY21.
Sai Silks (Kalamandir): Launches new store in Bengaluru.
Zaggle Prepaid: Amends pact with APAC Financial Services and adds Zaggle Employee Tax Benefits solution to contract.
AWL Agri: Clarifies FSSAI action relates to vitamin levels and not product safety. Says Fortune Fryola issue is not linked to product safety. Company has yet to receive FSSAI adjudication order and will review the order and pursue legal remedies.
Signatureglobal (India): Company signs pact for 11.88-acre land in Gurugram. Arm signs pact for 13.73-acre land in Gurugram. Signed land parcels offer 2.18 million sq ft of development potential.
Cemindia Projects: Andhra Pradesh ACB challenges discharge of company in corruption case. State files revision plea against discharge order. Andhra Pradesh HC to hear challenge to company discharge. ACB moves HC against April 13 discharge ruling. Alert: ACB is Anti-Corruption Bureau.
RITES: Signs MoU with HPCL for rail infrastructure consultancy.
NBCC India: Sells 2.3 lakh sq ft in Delhi for Rs. 1,236 crore. To get 1% marketing fee of sale value.
Adani Enterprises: Arm Adani Airport incorporates AACL Global IFSC.
Vedanta: Promoter loan pact rescinded after repayment. All restrictions on company stand released and facility agreement terminated after loan repayment.
P N Gadgil: Opens 14th YOOU store in Pune. Total store count stands at 79, including 65 legacy stores.
Jindal Worldwide: Board approves rights issue of up to Rs. 650 crore, with proceeds earmarked to make the company debt-free by FY27 and strengthen its balance sheet.
DCM Shriram Fine Chemicals: Off-market inter-promoter/family transfer of 20.65% stake by way of gift.
MRF: Shareholders approve final dividend of Rs. 229 per equity share for FY26.
Electrosteel Castings: Appoints Rajesh Daga as CFO effective Aug. 11, 2026. Board approves manufacture of rubber products for Indian Railways, including components for LHB and Vande Bharat coaches, and approves applying for Indian Railways vendor registration.
Lloyds Metals & Energy: Allots 70,000 9.02% secured NCDs worth Rs. 700 crore through private placement, with a 10-year tenure.
Jamna Auto Industries: Approves setting up a new leaf spring manufacturing facility in Jharkhand with capacity of 1,500 MT per month at an investment of around Rs. 47 crore. Commercial production expected by December 2027.
Transworld Shipping Lines: Completes sale of vessel M.V. SSL Visakhapatnam to Knight Marine Inc., with delivery completed at Pipavav, India.
Great Eastern Shipping: Contracts to acquire a second-hand Kamsarmax dry bulk carrier of 81,886 DWT, expected to join its fleet in Q3 FY27. Acquisition to be funded through internal accruals.
Vedanta Aluminium Metal: Subsidiary BALCO declared preferred bidder for Karlapat Bauxite Block in Odisha, with estimated reserves of around 248 million tonnes.
Schaeffler India: Appoints Amit Bhalerao as COO effective Aug. 10, 2026.
Hitachi Energy India: Secures first Battery Energy Storage System order for 165 MW/330 MWh project in Andhra Pradesh, taking order backlog to a record Rs. 32,222.1 crore. Rs. 634.63 crore utilised in capex out of allocated Rs. 1,513.28 crore.
SML Mahindra: Seeks shareholders' approval to acquire Mahindra & Mahindra's Truck & Bus Division on a slump sale basis for Rs. 525 crore and increase related-party transaction limit with M&M to Rs. 4,660 crore.
LIC: Launches LIC's New Bima Jyoti, a non-participating, non-linked individual savings life insurance plan, effective Aug. 10, 2026. Government of India completed sale of 82.23 crore equity shares, or 13% of the OFS, for aggregate consideration of around Rs. 31,552.34 crore.
Raymond Realty: Board approves incorporation of Ten X Mahalaxmi as a wholly owned subsidiary to undertake real estate redevelopment projects and mitigate project-specific risks.
Kirloskar Industries: Material subsidiary Kirloskar Ferrous Industries commissions additional 35 MW DC solar plant at Jalna, taking total solar capacity to 105 MW DC. Project cost around Rs. 97 crore.
Refex Industries: Shareholders, secured creditors and unsecured creditors approve Composite Scheme of Amalgamation and Arrangement involving Refex Green Mobility, Refex Industries and Refex Mobility at NCLT-convened meetings.
Juniper Green Energy: Emerges as winning bidder for 230 MW project under SECI's 1,000 MW Firm & Dispatchable Renewable Energy tender at tariff of Rs. 5.26 per unit.
Titan Company: Board approves incorporation of wholly owned subsidiary in Canada to expand Tanishq business.
G R Infraprojects: Emerges as successful bidder for Rs. 91.6 crore Varanasi Multi Modal Logistics Park project in Uttar Pradesh on DBFOT basis, with a 45-year concession period.
Rossell Techsys: Receives first order from a global semiconductor customer for manufacturing electrical wire harnesses, marking entry into a strategic long-term engagement in the semiconductor sector. Order to be executed over 12 months.
Chemplast Sanmar: Appoints Vijay Sankar as Director.
Hindalco: Plans 10 KTPA capacity addition at Kuppam by FY29, investing Rs. 768 crore. CFIUS review for proposed acquisition of AluChem Companies delayed due to partial US federal government shutdown; final clearance now expected by Sep. 2, 2026.
Escorts Kubota: Plans to launch a new tractor series under the Kubota brand shortly.
IndusInd Bank: RBI approves wholly owned stock broking subsidiary with equity infusion.
MPS: Completes merger of American Journal Experts, Delaware, into MPS North America, with MPS North America becoming the surviving entity. No change in MPS shareholding.
NTPC Green: Wins 200 MW/800 MWh BESS capacity in WBSEDCL's 500 MW/2,000 MWh standalone BESS tender.
Aarti Pharmalabs: Approves capacity addition for development of intermediate block at estimated capex of Rs. 149 crore.
RITES: Signs MoU with HPCL for rail infrastructure consultancy.
UTI Solar: Commissions 2 GW power electronics manufacturing facility at Ratlam.
Waaree Energies: Wholly owned subsidiary Waaree Clean Energy Solutions incorporates WCES Two as a wholly owned step-down subsidiary focused on green hydrogen supply. Step-down subsidiary Waaree Smart Meters acquires 24.21% stake in Eppeltone Engineers for around Rs. 21.78 crore through an off-market transaction to strengthen presence in the smart meter value chain.