GIFT Nifty

Indian equities are likely to witness a cautious start on Wednesday, with the GIFT Nifty trading at 24,120, indicating a muted opening after benchmark indices ended lower in the previous session.

India Market Recap

Indian equity benchmarks remained under pressure on Tuesday amid F&O expiry-related volatility, with heavyweight stocks such as HDFC Bank and Reliance Industries weighing on market sentiment. The NSE Nifty 50 declined 50.80 points, or 0.21%, to close at 24,187.70, while the BSE Sensex fell 238.41 points, or 0.31%, to settle at 77,470.11. Investors remained cautious amid mixed global cues and persistent geopolitical uncertainties. 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 traded higher on Tuesday as investors shifted their attention from geopolitical tensions in the Middle East to a busy corporate earnings season. Technology stocks led the gains, with the Nasdaq Composite rising 205.12 points, or 0.80%, to 25,713.19. The S&P 500 advanced 37.66 points, or 0.51%, to 7,480.94, remaining close to record highs, while the Dow Jones Industrial Average gained 204.24 points, or 0.39%, to 52,043.50. Strong buying in technology stocks helped lift overall market sentiment despite lingering geopolitical risks.

Asian Market Update

Asia-Pacific markets opened higher on Wednesday, led by a strong rally in South Korean equities. The Kospi surged more than 5%, while the Kosdaq gained around 2%. Japan's Nikkei 225 rose 0.34%, with the Topix trading little changed. Australia's S&P/ASX 200 edged 0.12% higher as investors tracked gains on Wall Street and awaited further corporate earnings announcements.

Commodity Check

Crude oil prices climbed to a five-week high on Tuesday as escalating tensions between the United States and Iran raised fresh concerns over potential disruptions to global energy supplies. Brent crude rose 2% to settle at $91.01 per barrel, while US West Texas Intermediate (WTI) gained 2% to close at $84.91 per barrel. The latest gains were driven by fears of further attacks in the Middle East and threats by Yemen's Houthi rebels to disrupt shipping linked to Saudi Arabia, keeping geopolitical risk firmly embedded in oil prices.

Stocks In News

• IndiaMART InterMESH: Board approves incorporation of IndiaMART Finance, a wholly owned subsidiary, to provide working capital financing to businesses on its platform.
• Infosys: Infosys BPM approves incorporation of a wholly owned subsidiary in Colombia.
• Manorama Industries: Incorporates Manorama Savannah Agro Chad SARL in Chad to expand its food and cosmetics trading business.
• Vedanta Oil & Gas: Receives demand notices from the DGH seeking about $35 million plus interest in liquidated damages related to four OALP blocks.
• Bhansali Engineering Polymers: Shareholders approve reappointment of Dilip Krushnarao Shendre as whole-time director for three years.
• Aurobindo Pharma: CuraTeQ Biologics receives ANVISA GMP approval for its Hyderabad biosimilars facility.
• Aditya Birla Capital: To invest Rs. 123.89 crore in Aditya Birla Health Insurance; shareholding remains unchanged at 45.89%.
• One MobiKwik Systems: Approves Rs. 60.85 crore investment in MobiKwik Distribution Services and Rs. 1 crore in MobiKwik Securities Broking.
• Ashoka Buildcon: Raises Rs. 100 crore through 90-day commercial papers at a 7.20% coupon.
• 63 Moons Technologies: Approves proposed Rs. 70 crore preferential investment by subsidiary Financial Technologies Singapore into Ticker.
• GRM Overseas: Acuité upgrades long-term rating to A (Stable) from A- and short-term rating to A1 from A2+.
• Viyash Scientific: Alivira Animal Health signs agreement to acquire BioForLife Italia S.r.l. for about €16.98 million.
• PC Jeweller: Repays all outstanding debt to one more consortium bank; 5 of 14 bank loans have now been prepaid.
• Orkla India: Receives GST show-cause notice proposing a demand of Rs. 8.41 crore for FY24.
• Ingersoll-Rand (India): Appoints Sunil Khanduja as chairman effective July 27, 2026.
• Aye Finance: Revises proposed NCD private placement size to Rs. 220 crore from Rs. 200 crore.
• Rane Holdings: Appellate GST order may result in a liability of Rs. 7.46 crore; company plans further appeal.
• Bombay Burmah Trading Corporation: Moves the Supreme Court seeking removal of observations on an alleged Rs. 4,655 crore lease-rent calculation for its Singampatti tea estate.
• Aavas Financiers: Approves issuance of up to Rs. 200 crore of secured listed NCDs.
• Tata Capital: Allots $400 million of 5.332% senior notes due Jan. 21, 2030.
• Anant Raj: Board approves demerger into Anant Raj and Ashok Cloud with a 1:1 share issuance.
• JSW Energy: Completes TJPS stake purchase for Rs. 150 crore; holding rises to 20.7%.
• SEAMEC: To acquire vessel SEAMEC ANANT from HAL Offshore for $70 million, with delivery by Aug. 31, 2026.
• TCC Concept: Board approves 1:5 stock split and alteration of MOA objects, subject to approvals.
• Gabriel India: Appoints Mahendra K Goyal as group CEO and managing director for five years; redesignates Atul Jaggi as managing director; approves acquisition of 28.99% stake in HL Mando Anand for Rs. 2,231 crore.
• Hind Rectifiers: Allots 10.8 lakh shares at Rs. 920.50 on a preferential basis; total preferential issue size Rs. 1,000 crore.
• Centum Electronics: Lyon Economic Activities Court orders conversion of judicial reorganisation proceedings of entities into judicial liquidation proceedings Judicial liquidation proceedings effective July 2.
• Delhivery: Received GST appellate order from West Bengal tax authority for FY20 confirming tax demand of Rs 6.47 crore, interest demand of Rs 7.61 crore and penalty of Rs 0.65 crore over disallowance of input tax credit;
• REC: RECPDCL incorporates Dharashiv Power Transmission as a wholly owned subsidiary on July 21, 2026 to act as the project SPV for the 400 kV GIS Solapur/Paranda Switching Station.
• Trident: Approves incorporation of a domestic wholly owned subsidiary in India to strengthen brand presence and drive sales, marketing, business development and brand-building initiatives for Trident products in overseas markets.
• Sasken Technologies: Sunirmal Talukdar, independent director, ceases to be a director of the company.
• Vintage Coffee and Beverages: NCLT Hyderabad sanctions amalgamation of wholly owned subsidiaries Vintage Coffee and Delecto Foods with Vintage Coffee and Beverages through an order dated July 21, 2026.
• Anupam Rasayan: Dispatches letter of offer for the open offer to acquire up to 2.77 crore equity shares (26% of expanded voting share capital) of Bliss GVS Pharma at Rs. 299 per share in cash; the offer is being made jointly with PAC Mates Visa Consultancy.