GIFT Nifty
The GIFT Nifty, an early indicator of the Nifty 50, traded at 24,344.50, indicating a positive start for domestic markets compared with Friday's Nifty close of 24,270.85.
India Market Recap
Indian equity benchmarks extended their winning streak for the third consecutive trading session, supported by strong buying in technology stocks. The NSE Nifty 50 climbed as much as 0.8% to an intraday high of 24,378.15, while the BSE Sensex advanced up to 655 points, or 0.85%, to 78,127.52. The rally reflected improved investor sentiment amid supportive global cues and continued strength in large-cap IT stocks. On the technical front, Nifty support is placed in the 24,000–24,200 range, while resistance is seen between 24,500 and 24,600.
US Market Recap
US markets remained closed on Friday, July 3, in observance of the Independence Day holiday. Trading on the New York Stock Exchange (NYSE), Nasdaq and the bond market will resume on Monday, July 6. The holiday followed a mixed session on Wall Street, while the bond market had also closed early on Thursday ahead of the long weekend. Investors are now awaiting the reopening of US markets for fresh direction.
Asian Market Update:
Asian markets traded on a mixed note on Monday as investors awaited the release of the minutes from the US Federal Reserve's June policy meeting for further clues on the interest rate outlook. Currency movements also remained in focus, particularly the Japanese yen and South Korean won. South Korea's Kospi outperformed regional peers, gaining 1.08%, while Japan's Nikkei 225 slipped 0.25%. Australia's ASX 200 also edged 0.08% lower.
Commodity Check
Crude oil prices extended their recent decline as improving oil shipments through the Strait of Hormuz and OPEC+'s decision to increase production targets strengthened expectations of higher global crude supply. Brent crude traded below $72 per barrel, while US benchmark West Texas Intermediate (WTI) hovered near $68 per barrel. The normalization of tanker traffic through the Strait of Hormuz following the interim peace agreement between the US and Iran has eased concerns over supply disruptions and continued to weigh on oil prices.
Stocks In News
- SIS: Acquired an additional 2 lakh shares of Updater Services. The company now holds a 5.17% stake in Updater Services.
- EPL: Invested an additional Rs. 14.5 crore in its subsidiary, EPL Packaging.
- Supriya Lifescience: The Customs Department has initiated an investigation against General Manager Sreekant Sreedharan. A CMM court has granted judicial custody until July 17. Proceedings have been initiated over a lapse in the export transaction of an identified product.
- Aster DM Healthcare: Changed its name to Aster DM Quality Care.
- Belrise Industries: Received 'no adverse observation' letters from BSE and NSE regarding the merger of Badve Autocomps and Eximius Infra.
- G R Infraprojects: Its subsidiary has completed the Rajasthan road project.
- HLE Glascoat: Naveen Kandpal has resigned as Chief Financial Officer.
- Shakti Pumps: Received an order worth Rs. 354 crore from Maharashtra State Electricity Distribution Company (MSEDCL) for water pumps.
- Baazar Style Retail: Opened a new Style Baazar store at Gilat Bazar in Varanasi, Uttar Pradesh.
- Bikaji Foods: Completed the acquisition of an additional 2,90,000 common stock shares in Bikaji Foods International USA Corp, its wholly owned subsidiary.
- Godawari Power & Ispat: Made a further investment in its wholly owned subsidiary, Godawari New Energy Private Limited. The subsidiary allotted shares worth Rs. 150 crore to the company on a rights basis.
- Lux Industries: The board approved a capacity expansion at its West Bengal unit and sanctioned a new capex of Rs. 450 crore for the Dankuni facility.
- Bharat Coking Coal: The Jharkhand High Court disposed of litigation related to the arrest of former employees. No adverse directions were passed against the company, and the litigation stands closed with the disposal of the writ petition.
- DCM Shriram: The Income-tax Appellate Tribunal (ITAT) granted relief of Rs. 173 crore in relation to a November 2025 tax litigation and directed the correction of computational errors. The company will now file a plea against another tax order worth Rs. 249 crore.
- Oswal Pumps: Received an additional order worth Rs. 236 crore from Maharashtra State Electricity Distribution Company (MSEDCL) for 10,000 solar pumps.
- SJVN: Prime Minister Narendra Modi inaugurated the 1,000 MW Bikaner Solar Power Project.
- CG Power and Industrial Solutions: Its subsidiary, CG Semi, has commenced commercial production at its OSAT facility in Sanand, Gujarat.
- CONCOR: ICICI Prudential Mutual Fund acquired 44.06 lakh shares through open market transactions, increasing its stake in the company from 4.67% to 5.24%, crossing the 5% shareholding threshold.
- IndusInd Bank: India Ratings reaffirmed the Bank's debt instruments rating at IND AA+ with Negative Outlook.
- Enviro Infra Engineers: Received LOA from Uttar Pradesh Jal Nigam (Rural) for a Rs. 130.14 crore HAM project to develop a 60 MLD sewage treatment plant and associated infrastructure at Lohta, Varanasi under the Namami Gange Programme, with 15-year O&M.
- Scheffler India: Schaeffler India Becomes First Company to Secure BIS License for Cylindrical Roller Bearings Under New Indian Standard
- TCC Concept : Pepcart Announces Its First B2B Alliance with Shiprocket to Democratize Big-Box Logistics Across India
- TeamLease Services: Karnataka High Court quashed the EPFO show-cause notice and directed EPFO to consider the company's March 31, 2026 reply and conduct an enquiry in accordance with law.
- Piramal Finance : Shareholders approved issuance of Non-Convertible Debentures (NCDs) through private placement
- GSP Crop Science : Fire incident at Ahmedabad Unit-1 impacted a packing material storage area containing raw materials, packing material and one FFE machine;
- Sagar Cements: - India Ratings downgraded the company's bank loan facilities rating to IND BBB/Stable/IND A3+ from IND BBB+/Negative/IND A2.
- JSW Steel : JSW Steel Begins Work on Rayalaseema Steel Project in Andhra Pradesh
- HUDCO: Signed an MoU with the Government of Bihar to provide term loans of up to Rs. 1 lakh crore over five years for urban infrastructure projects, including land acquisition.
- Bliss GVS Pharma: - Appointed Rahul Adakmol as CEO effective July 15, 2026; Narsimha Shibroor Kamath stepped down as CEO from July 14, 2026 and will continue as Managing Director.
- Quality Power Electrical Equipments : Subsidiary Co. Mehru Electrical and Mechanical Engineers received multiple orders worth Rs. 15.70 crore from Hitachi Energy India for supply of 400 KV Instrument Transformers, to be executed over around 12 months.
- Bank of Baroda: - RBI imposed a penalty of Rs. 63.60 lakh on the bank for charging interest above contracted rates in certain loan accounts and delays in uploading certain customer KYC records to CKYCR within prescribed timelines.
- DCM Shriram: Appointed Justice (Retd.) Sanjay Kishan Kaul and Rumjhum Chatterjee as Additional Independent Directors for a five-year term
- Sterlite Technologies: European Patent Office's Technical Board of Appeal revoked Fujikura's EP3796060 patent in its entirety, formally ending the UK patent litigation related to STL's Celesta cable family
- Thejo Engineering: Received first tranche orders worth Rs. 8.46 crore from Vale, Brazil for supply of THOR-R and THOR-M Mill Liners under a three-year contract; delivery scheduled by October 2026.
- PTC India: Entered into a Power Purchase Agreement with NTPC Renewable Energy Limited for procurement of 1,200 MW solar power under a bilateral arrangement.
- KEC International: Issued a corporate guarantee of USD 35 million on behalf of subsidiary Al Sharif Group & KEC Limited Company for a credit facility.
- ITI: Executed and registered the sale deed for a 21-acre land parcel at K.R. Puram, Bengaluru in favour of the Central Goods and Services Tax Department for Rs. 914.31 crore; Rs. 902.81 crore of proceeds was used to repay consortium bank borrowings and the related mortgage has been released.
- Protean eGov Technologies: Signed a five-year MoU with North East Centre for Technology Application and Reach (NECTAR) to collaborate on digital governance, ICT, geospatial technologies, capacity building and technology-enabled socio-economic development projects, with a focus on the North Eastern Region.
- Amber Enterprises India: Material subsidiary IL JIN Electronics (India) acquired an additional 1.0% stake in Ascent Circuits Private Limited for approximately Rs. 8 crore, increasing its shareholding from 97.5% to 98.5%.
- Hinduja Global Solutions: Wholly owned subsidiary HGS International, Mauritius incorporated a new wholly owned subsidiary, HGS MENA IT Consulting L.L.C., in Dubai, UAE on July 3, 2026.
- Fortis Healthcare: Fortis Healthcare signs O&M Agreement with Dion Group for 300-Bed Multi-Specialty Hospital in Cuttack, Odisha.
- Strides Pharma Science: Completed sale of its majority stake in Pivot Path to a consortium led by Ascent Capital for Rs. 100 crore; received Rs. 75 crore upfront, with Rs. 25 crore payable after one year.
- Rubicon Research: US FDA completed an unannounced inspection of the Pithampur facility and issued Form 483 with 2 procedural observations. The company remains on track to ramp up commercial operations from Q1 CY2027.
- Lodha Developers: Clarified that the reported Palava land transaction with Digital Edge is a routine business transaction in the ordinary course of its real estate operations and not a material event.
- Sonata Software : US bankruptcy court dismissed the involuntary Chapter 7 petition filed by subsidiary Sonata Software North America against OBSA Operating Company due to OBSA's procedural non-compliance.
- Prestige Estates Projects: Entered into an agreement to acquire a 50% stake in Advent Convention and Hotels International Limited for up to Rs. 504 crore to jointly develop a Mumbai commercial project with ~1.5 million sq. ft. leasable area and estimated GDV of Rs. 4,500 crore.
- Reliance Industries : CARE Ratings reaffirmed the company's Non-Convertible Debentures rating at CARE AAA/Stable and Commercial Paper rating at CARE A1+.
- Adani Ports : CARE Ratings reaffirmed the company's long-term bank facilities, non-convertible debentures and long-term/short-term bank facilities ratings at CARE AAA/Stable, and reaffirmed commercial paper rating at CARE A1+.
- Samvardhana Motherson International: Completed acquisition of (Nexans) Autoelectric through subsidiary Motherson Global Investments B.V.; Autoelectric has become an indirect wholly owned subsidiary of the company effective July 3, 2026.
- India Glycols Limited : NCLT Allahabad reserved its order on the proposed demerger scheme involving India Glycols Limited, Ennature Biopharma Limited and IGL Spirits Limited after hearing the matter; final pronouncement is awaited.
- Onida electronics : Shirish Suvagia resigned from the positions of Whole-Time Director and Chief Financial Officer
- Coal India : Signing of JV agreement between Coal India Limited and U.P. Rajya Vidyut Utpadan Nigam Limited