GIFT Nifty

The GIFT Nifty, an early indicator of Nifty 50's performance, traded at 24,106.50, compared to Friday's index close of 24,206.90.

India Market Recap

Indian equity benchmarks witnessed a strong rebound on Friday, although they ended the week with marginal losses, snapping their four-week winning streak—the longest since December last year. For the week, the NSE Nifty 50 declined 0.25%, while the BSE Sensex slipped 0.22%. On Friday, however, buying across sectors lifted the markets, with the Nifty 50 rising 244.10 points, or 1.02%, to close at 24,206.90. The BSE Sensex advanced 827.57 points, or 1.08%, to settle at 77,569.39. On the technical front, Nifty support is placed in the 24,000–24,100 range, while resistance is seen between 24,300 and 24,400.

US Market Recap

Wall Street opened on a subdued note on Friday, with investors remaining cautious despite the S&P 500 heading for a weekly gain. Shortly after the opening bell, the Dow Jones Industrial Average rose more than 120 points or 0.23%, while the S&P 500 gained 0.13% and the Nasdaq Composite edged up 0.04%. Technology stocks remained in focus, with Microsoft and Salesforce gaining nearly 2% each. Nike, JPMorgan Chase, and Amazon also traded over 1% higher, while UnitedHealth Group and McDonald's were among the notable laggards.

Asian Market Update

Asian markets opened slightly higher on Monday as investors monitored the latest military developments between the United States and Iran while also preparing for a busy week of global corporate earnings. Japan's Nikkei 225 gained 0.58%, South Korea's Kospi edged up 0.02%, and Australia's ASX 200 advanced 0.10%. Investor sentiment remained cautious as fresh missile and drone exchanges over the weekend renewed concerns about geopolitical risks and the security of key energy supply routes.

Commodity Check

Crude oil prices jumped on Monday after fresh military strikes between the United States and Iran reignited concerns over oil supply disruptions through the Strait of Hormuz, a vital route for nearly one-fifth of global oil shipments. Brent crude futures rose 3.5% to $78.67 per barrel, while US benchmark West Texas Intermediate (WTI) gained 3.4% to $73.87 per barrel. The renewed conflict has restored a geopolitical risk premium in oil prices after markets had previously eased on hopes of an interim peace agreement. While Iran claimed the Strait of Hormuz had been closed "until further notice," the US Central Command stated that the waterway remains open for lawful commercial shipping, leaving uncertainty over future energy supplies.

Stocks In News

• SBI: The bank completes transfer of a 1.4% stake ahead of SBI Fund Management's IPO, selling 2.9 crore shares to 30 investors at Rs. 574 per share for Rs. 1,655 crore.
• NLC India: Sanoj Kumar Jha will continue to hold additional charge as CMD for at least three more months.
• ideaForge Technology: The company allots 62.9 lakh shares worth Rs. 500 crore via QIP at Rs. 795 per share, a 4.9% discount to the floor price.
• Triveni Engineering & Industries: The company fixes July 22 as record date for determining shareholder eligibility under the merger scheme involving Triveni Power Transmission and Shadi Lal Enterprises.
• Emcure Pharmaceuticals: The company's arm Gennova Biopharmaceuticals will sell its mRNA business to Immunoscript Life Science for Rs. 139.5 crore.
• Bazaar Style Retail: The company opens a new store in Bihar, taking total store count to 275.
• RITES: A consortium involving the company secures a Rs. 79 crore order from Patna Metro Rail.
• Nuvoco Vistas: The company's arm commissions 2 MMTPA cement grinding capacity at Surat. Consolidated cement capacity is expected to reach 35 MMTPA by FY28.
• Lux Industries: The company plans to invest Rs. 600 crore in a manufacturing facility in West Bengal for capacity expansion.
• Mankind Pharma: The company will sell its 100% stake in Broadway Hospitality Services to AKRK Projects LLP for Rs. 49 crore.
• SEAMEC: Vessel Samudra Prabha is hired following completion of DG Shipping inspection.
• Goodluck India: The company approves a 2:1 bonus issue and will provide a corporate guarantee worth Rs. 275 crore.
• Mazagon Dock Shipbuilders: INS Mahendragiri, the stealth frigate built by the company, is commissioned into the Indian Navy.
• Cupid: The company is included in BSE Group ‘A' category
• Standard Industries: The company approves fundraising via preferential allotment of 24 lakh shares.
• Hariom Pipe Industries: The company's arm commissions a 5 MW AC solar PV power project in Maharashtra.
• NTPC: The company approves investment of Rs. 20,457 crore in the Lara Super Thermal Power Project.
• Amber Enterprises: The company approves issuance of bonus shares in a 25:1 ratio to members of its subsidiary IL JIN Electronics (India).
• Jindal Steel & Power: Gautam Malhotra resigns as Chief Executive Officer with effect from July 15.
• SBI: The bank reduces the OFS size in SBI Fund Management IPO to 4.89% stake from 6.3% earlier.
• Choice International: The company and its arm receive SEBI no-objection certificates for Wealthwave Capital Trust, with Choice AMC acting as investment manager.
• Belding India: Belding India Unveils Hybrid BESS to Accelerate India's Transition Towards Smarter, Cleaner and Reliable Power Solutions.
• CMPDIL: Achieved 99% of its drilling target up to May FY27, with 11% YoY growth in drilling, while 2D/3D seismic survey reached 70.14 line km (78% of target).
• Heromoto Corp: VIDA enters the Asia Book of Records with the launch of the new VIDA Evooter VX2 Plus 4.4 kWh
• Laxmi Dental: Disbursed an unsecured loan of Rs 25 lakh to subsidiary Signature Smiles Dental Clinic under an existing loan agreement; total outstanding loan to the subsidiary now stands at Rs 1.25 crore.
• Ashoka Buildcon: Settled the matter with NHAI related to the show cause notice dated Nov. 26, 2025; NHAI agreed to close the proceedings, withdraw the suspension and not initiate any debarment action, while the company paid Rs 1.04 crore as settlement amount.
• 63 Moons Technologies: Material subsidiary 63SATS Cybertech reported a Q1 FY27 order book of Rs 288 crore, achieving 82% of its FY27 target;
• CYBX AI: CyberOps cumulative order value crossed Rs 53 crore, CYBX downloads exceeded 20 lakh with more than 3.25 lakh paid subscribers, and over 65 clients were onboarded for DPDP compliance.
• Electronics Mart India: Opened a new 6,500 sq. ft. multi-brand store under the ‘Bajaj Electronics' brand in Peddapuram, Andhra Pradesh, with commercial operations commencing on July 10, 2026.
• Swiggy: Clarified that FSSAI's order relating to the “Toing” platform was linked to licence particulars updation and not to any food safety issue; the company addressed the observations and received a modified FSSAI licence on July 9, 2026
• Mahindra & Mahindra Financial Services: Assigned CARE AAA/Stable and CARE A1+ ratings to Rs 50,000 crore long-term/short-term bank facilities
• Reliance Infrastructure: Subsidiary Mumbai Metro One entered into a debt restructuring agreement with National Asset Reconstruction Company that will reduce debt by more than Rs 1,100 crore and lead to withdrawal of insolvency proceedings against the company.
• Power Finance Corporation: Raised $300 million through 3-year floating rate notes due July 16, 2029 under its $8 billion Global Medium Term Note Programme, priced at SOFR plus 110 basis points with quarterly interest payments
• Lemon Tree Hotels: Terminated the hotel operating and licence agreements for “Lemon Tree Hotel, Hubli” due to a material breach of the hotel operating agreement by the owner;
• Power Grid Corporation of India: Declared the successful bidder for the “Transmission System for Integration of Krishnagiri REZ Phase-I” project; the project includes two new 765/400 kV substations in Andhra Pradesh and associated transmission lines across Andhra Pradesh, Telangana and Karnataka.
• JSW Infrastructure: Incorporated wholly owned subsidiary JSW Kolkata Outer Harbour Container Terminal to execute the Kolkata Dock System Outer Container Terminal project awarded by Syama Prasad Mookerjee Port Authority under the PPP model.
• InterGlobe Aviation (IndiGo): Received a warning letter from DGCA relating to a cargo spillage incident reported in Jan. 2026
• Precision Wires: Received factory licence from the Director Industrial Safety and Health, Gujarat for its manufacturing unit at Zaroli, Valsad
• PACE Digitek: Material subsidiary Lineage Power entered into an MoU with Bondada Renewable Energy for supply of Battery Energy Storage Systems (BESS), including DC blocks, C&I BESS cabinets, residential BESS, PCS, EMS and battery containers.
• MM Forgings: Pursuant to the NCLT-approved amalgamation of DVS Industries, the company's authorised share capital increased to Rs 63.50 crore from consolidation of authorised capital, comprising 6.35 crore equity shares of Rs 10 each.
• NMDC: Increased iron ore prices effective July 10, 2026, with Baila Lump (65.5%, 10-40 mm) priced at Rs 5,450 per tonne and Baila Fines (64%, -10 mm) priced at Rs 4,700 per tonne.
• HUDCO: Requested NSE and BSE to waive fines levied for non-compliance with board composition requirements during the quarter ended Mar. 31, 2026, stating that appointment of Independent Directors is undertaken by the Government of India and is beyond the company's control.
• Keystone Realtors: Q1 FY27 pre-sales Down 42% YoY at Rs. 617 crore; collections Up 4% YoY at Rs. 599 crore. Added two projects with estimated GDV of Rs. 713 crore and completed one project.
• Powerica: Secured a 50 MW wind project bid from GUVNL's wind power tender.
• Sterlite Technologies: Won its European patent dispute against Fujikura after the European Patent Office's Technical Board of Appeal revoked Fujikura's European patent.
• Deepak Nitrite: Wholly owned subsidiary Deepak Chem Tech allotted 1.20 crore 9% optionally convertible redeemable preference shares of Rs. 100 each, aggregating Rs. 120 crore, to Deepak Phenolics to strengthen its capital base and fund projects and general corporate purposes.
• Vadilal Industries: India Ratings upgraded the long-term rating to IND A+/Positive from IND A and the short-term rating to IND A1+ from IND A1.
• Advait Energy Transitions: Promoter Shalin Sheth acquired 10 lakh shares (9.14% stake) from promoter group entity Rejal Sheth through an inter-se promoter transfer by way of gift.
• Dolphin Offshore Enterprises: Wholly owned subsidiary Beluga International (IFSC) received provisional registration at GIFT City, Gujarat, as a finance company for ship and ocean vessel operating lease business. Dolphin Offshore will hold a 100% stake with a proposed capital infusion of Rs. 1.82 crore.
• Ajmera Realty & Infra: Sold its entire 36% stake in Ultra Tech Property Developers to Bloom Hotels and Living for Rs. 1.73 crore.
• Aster DM Quality Care: ICRA upgraded the long-term rating to ICRA AA/Stable from ICRA A+ and reaffirmed the ICRA A1+ short-term rating. The upgraded rating covers enhanced long-term term loan facilities of Rs. 1,607 crore.
• Tata Steel: Dutch Public Prosecution Office summoned material subsidiary Tata Steel IJmuiden over alleged pollution at its coke and gas plants. The subsidiary said the allegations are unjustified, highlighted a 98% reduction in undercooked coke incidents since 2020, and will present its defence in court.
• REC: Wholly owned subsidiary RECPDCL incorporated Nawada Durgapur Power Transmission as the SPV for the ERES-47 Nawada–Durgapur–Jeerat (New) 765 kV transmission corridor project.
• Ind-Swift Laboratories: Approved issuance of 70 lakh fully convertible warrants to promoter group entity Essix Biosciences at Rs. 196 per warrant, aggregating Rs. 137.20 crore.
• UGRO Capital: Received NSE and BSE no-objection letters for the proposed amalgamation of Profectus Capital with UGRO Capital.
• GMR Airports: CARE Ratings upgraded non-convertible bond ratings of up to Rs. 1,500 crore and long-term bank facilities to CARE A+ (Positive) from CARE A (Stable), while short-term bank facility ratings were upgraded to CARE A1+ from CARE A1.
• GAIL: Following the NCLT-approved capital reduction scheme of Konkan LNG, 7.41 crore shares held by MSEB were cancelled, increasing GAIL's stake to 100% and making Konkan LNG a wholly owned subsidiary.
• JSW Energy: Step-down subsidiary JSW Energy PSP Eleven secured a Rs. 443.74 crore order from Bondada Renewable Energy for the supply of 200 MW/400 MWh Battery Energy Storage Systems and Power Conversion System solutions.
• Avenue Supermarts: Opened a new store in Greater Noida, Uttar Pradesh, taking the total store count to 504.
• Vikran Engineering: Approved corporate guarantees of up to Rs. 3,400 crore for wholly owned subsidiaries and approved promoter contribution of up to Rs. 1,160 crore into subsidiaries through equity, loans, NCDs, OCDs or other permitted instruments.
• Himadri Speciality Chemical: ICRA upgraded the long-term working capital rating to ICRA AA (Stable) from ICRA AA- (Positive) and reaffirmed the ICRA A1+ short-term rating and commercial paper rating of Rs. 500 crore.
• PDS: Step-down subsidiary Nor Lanka Manufacturing divested its entire 26% stake in Nobleswear (Private) Limited, Sri Lanka, for approximately Rs. 95.31 crore.
• H.G. Infra Engineering: Incorporated wholly owned subsidiary H.G. Buildskills on July 10, 2026, to undertake learning, training and development consultancy activities.
• Inventurus Knowledge Solutions: Executed a subordination agreement under which intercompany debt across the group, including TruBridge and its subsidiaries, will rank junior to IKS Inc.'s financing facilities of up to $635 million raised for the TruBridge acquisition.
• IREDA: Declared Gensol Engineering and Gensol EV Lease as fraud accounts under RBI's Fraud Risk Management Directions. Outstanding exposure stands at Rs. 453.77 crore and Rs. 218.97 crore, respectively, with 85% provisioning held against both accounts.
• IdeaForge Technology: Closed its QIP and allotted 62.89 lakh equity shares at Rs. 795 per share, raising approximately Rs. 500 crore.
• IIFL Finance: Allotted $300 million of 7.60% senior secured notes due 2030 under its $1.5 billion Global Medium Term Note Programme.
• TTK Prestige: The company resumes normal manufacturing operations at its Roorkee factory. It is assessing potential damage to assets and says all assets are adequately insured.
• Reliance Infrastructure: The company's stake in Reliance Power worth Rs. 763 crore has been provisionally attached.
• HUDCO: The company signs an MoU with the Odisha government for potential loan assistance of up to Rs. 1 lakh crore.
• SEPC: The SEPC–Furlong JV receives a termination notice for an EPC subcontract.
• Authum Investment & Infrastructure: NCLT rejects a resolution plan in which the company was selected as the successful resolution applicant. The company says the order will have no impact on its business operations.