The GIFT Nifty
An early indicator for the benchmark Nifty 50, is down 0.29% at 23,909.5 as of 6:58 am. Equity-index futures for the US (S&P 500) and Europe (Euro Stoxx 50) rose 0.06% and 0.09% respectively.
India Market Recap
Indian equity benchmarks witnessed their sharpest decline in the last ten trading sessions as broad-based selling weighed on market sentiment. The BSE Sensex dropped 715 points, or 0.92%, to close at 76,755.05, while the NSE Nifty 50 declined 191 points, or 0.79%, to settle at 23,906.25. Profit booking in heavyweight stocks and cautious investor sentiment ahead of key global developments kept the indices under pressure. On the technical front, Nifty support is placed in the 23,800–23,900 range, while resistance is seen between 24,100 and 24,200.
US Market Recap
Wall Street traded on a mixed note on Wednesday as weakness in semiconductor stocks weighed on the broader market, while gains in select blue-chip stocks supported the Dow Jones Industrial Average. The Dow rose 93.24 points, or 0.18%, to 52,317.88, while the S&P 500 slipped 0.13% to 7,499.26. The Nasdaq Composite underperformed, falling 120.61 points, or 0.47%, to 25,716.60, as renewed selling in chipmakers offset positive sentiment from other sectors.
Asian Market Update
Asian markets traded mostly higher on Thursday despite escalating geopolitical tensions in the Middle East and rising crude oil prices. Japan's Nikkei 225 advanced 1.22%, while South Korea's Kospi surged 3.47%. Australia's ASX 200 gained 1.06%, whereas China's Shanghai Composite was marginally lower by 0.01%. Investors remained focused on corporate earnings and geopolitical developments, which continue to influence market sentiment.
Commodity Check
Crude oil prices extended their rally after Iran-backed Houthi militants claimed responsibility for attacks on two Saudi Arabian oil tankers in the Red Sea, intensifying concerns over global energy supplies. Brent crude climbed as much as 1.4% to trade above $95 per barrel, following a six-week high in the previous session, while US West Texas Intermediate (WTI) hovered near $88 per barrel. The latest escalation has heightened fears of supply disruptions across key shipping routes, keeping geopolitical risk firmly embedded in oil markets.
Stocks In News
- Rubicon Research: Acquired its first US manufacturing facility in New Jersey for $2.9 million on 21 July 2026.
- Kajaria Ceramics: Extinguished 21.5 lakh shares following its buyback.
- IDBI Bank: Appointed Abhijit Chakravorty and Ketan Vikamsey as independent directors for two-year terms.
- Dr. Reddy's Laboratories: Appointed Dr. Sridevi Khambhampaty as Global Head of Biologics, Senior Management Personnel and a member of the Management Council, effective 22 July 2026.
- TVS Motor Company: Launched the TVS Raider motorcycle in Egypt, expanding its premium commuter motorcycle portfolio in North Africa.
- Inox Green Energy Services: Board approved a fundraise of up to Rs 600 crore.
- Siyaram Silk Mills: NCLT sanctioned the company's bonus preference share scheme on 21 July 2026.
- Sona BLW Precision Forgings (Sona Comstar): Signed definitive agreements with DENSO to form two India-based EV and hybrid powertrain joint ventures.
- Jeena Sikho Lifecare: Plans to set up a 60+ bed hospital in Kalyani, West Bengal, by October 2026 with an investment of around Rs 1.30 crore.
- Swan Defence and Heavy Industries: ICRA assigned a BBB (Stable) rating to Rs 2,650 crore of credit facilities.
- Emcure Pharmaceuticals: Completed the acquisition of the remaining 12.05% stake in Gennova Biopharmaceuticals for Rs 231.87 crore, making Gennova a wholly owned subsidiary.
- Sumeet Industries: Approved the allotment of 16.84 crore equity shares under its rights issue at Rs 11.86 per share, increasing paid-up equity share capital to Rs 138.95 crore.
- Oracle Financial Services Software: Appointed Avadhut Ketkar as Managing Director & CEO for a three-year term effective 24 July 2026 and Manish Bhandari as Chief Financial Officer.
- Geojit Financial Services: Appointed Jones George as Managing Director for a five-year term effective 1 October 2026. C. J. George will become Executive Chairman from the same date.
- Gandhar Oil Refinery (India): Appointed Shyam Chandrabhan Agrawal as an Independent Director for a five-year term.
- HCL Technologies: TIM Brasil selected HCLTech to enable South America's first cross-platform eSIM transfer capability using its Device Entitlement Gateway platform.
- Saatvik Green Energy: Its subsidiary Saatvik Solar Industries secured a domestic order worth Rs 138 crore for the supply of solar PV modules, with execution scheduled by December 2026.
- Azad Engineering: Delivered its first indigenous expendable turbojet engine to the DRDO and the Ministry of Defence.
- Sun TV Network: SunRisers Leeds approved 99,999 bonus shares to Sun TV Network on 21 July 2026.
- Sona BLW Precision Forgings (Sona Comstar): Board approved the slump sale of its EV business to Sona Comstar for Rs 893 crore. The company also entered into a share subscription agreement with Sona eDrive and DENSO, under which DENSO will acquire a 49% stake in Sona eDrive at an enterprise value of Rs 1,750 crore.
- Godrej Consumer Products: Invested Rs 200 crore in Godrej Pet Care through a rights issue, retaining 100% ownership.
- Bliss GVS Pharma: Independent Directors Committee recommended Anupam Rasayan's open offer for a 26% stake at Rs 299 per share, with a total consideration of Rs 829.03 crore.
- Jindal Poly Films: Step-down subsidiary JPF Netherlands Investment BV applied to strike off its wholly owned subsidiary JPF API Laminates UK.
- Saregama India: Acquired an additional 4.82% stake in Pocket Aces for approximately Rs 20.05 crore, taking its holding to 95.76%.
- Waaree Energies: Wholly owned subsidiary Waaree Solar Americas secured an international order to supply 125 MW of HJT solar modules, with deliveries scheduled during FY27.
- Signature Global: Acquired 0.38 million sq ft in Signature Global Sarvam on 22 July 2026.
- CIE Automotive India: Rajendra Vadlapudi resigned as CEO of the Iron Casting Division.
- UTI AMC: Selected P. V. Bharathi as Chairperson, effective 29 July 2026.
- Mahindra Lifespaces: World City Developers signed the second supplemental agreement with Sumitomo on 22 July 2026 to expand Chennai Phase 2B.
Earnings And Updates
- Net profit down 68.7% to Rs 444 crore versus Rs 1,418 crore YoY.
- Revenue down 5.5% to Rs 8,100 crore versus Rs 8,572 crore YoY.
- Ebitda down 60.4% to Rs 861 crore versus Rs 2,173 crore YoY.
- Ebitda margin at 10.6% versus 25.3% YoY.
- Other income at Rs 355 crore versus Rs 290 crore YoY.
- Global generics revenue down 4.8% to Rs 7,208 crore YoY.
- Net profit up 46.5% to Rs 1,003 crore versus Rs 684 crore YoY.
- Net NPA at 0.95% versus 1.00% QoQ.
- Gross NPA at 3.25% versus 3.43% QoQ.
- NII up 1% to Rs 4,685 crore versus Rs 4,640 crore YoY.
- NIM at 3.57% versus 3.46% YoY.
- Operating profit up 1.2% to Rs 2,683 crore versus Rs 2,652 crore YoY.
- Provisions at Rs 1,340 crore versus Rs 1,484 crore QoQ.
- Provisions at Rs 1,340 crore versus Rs 1,738 crore YoY.
- NIM at 3.57% versus 3.39% QoQ, up 18 basis points.
- Net profit up 8.1% to Rs 656 crore versus Rs 607 crore YoY.
- Net NPA at 0.25% versus 0.27% QoQ.
- Gross NPA at 2.08% versus 2.17% QoQ.
- Provisions at Rs 235 crore versus Rs 326 crore QoQ.
- Provisions at Rs 235 crore versus Rs 616 crore YoY.
- NII up 17% to Rs 2,808 crore versus Rs 2,403 crore YoY.
- Global NIM at 3.05% versus 2.96% YoY.
- Domestic NIM at 3.24% versus 3.18% YoY.
- Net profit at Rs 675 crore versus Rs 233 crore YoY.
- Total income up 33% to Rs 3,922 crore versus Rs 2,959 crore YoY.
- Net loss of Rs 11,526 crore versus a profit of Rs 4,902 crore QoQ.
- Revenue up 17.4% to Rs 1.4 lakh crore versus Rs 1.15 lakh crore QoQ.
- Ebitda loss of Rs 16,141 crore versus an Ebitda profit of Rs 8,979 crore QoQ.
- Average GRM at USD 23.8 per barrel versus USD 3.08 per barrel YoY.
- Net loss of Rs 14.3 crore versus a loss of Rs 15.7 crore YoY.
- Revenue up 11.2% to Rs 1,291 crore versus Rs 1,161 crore YoY.
- Ebitda up 9.2% to Rs 187 crore versus Rs 172 crore YoY.
- Ebitda margin at 14.5% versus 14.8% YoY.
- Net profit up 30.9% to Rs 504 crore versus Rs 385 crore QoQ.
- Total income up 32.9% to Rs 937 crore versus Rs 705 crore QoQ.
- Net profit up 16.7% to Rs 122 crore versus Rs 105 crore YoY.
- Revenue up 11.1% to Rs 681 crore versus Rs 613 crore YoY.
- Ebitda up 42.5% to Rs 151 crore versus Rs 106 crore YoY.
- Ebitda margin at 22.1% versus 17.2% YoY.
- Net profit down 34.4% to Rs 22.8 crore versus Rs 34.7 crore YoY.
- Revenue up 7.8% to Rs 190 crore versus Rs 176 crore YoY.
- Ebitda down 18.3% to Rs 44.9 crore versus Rs 55 crore YoY.
- Ebitda margin at 23.6% versus 31.2% YoY.
- Ebitda margin at 18.1% versus 18.3% YoY.
- Ebitda up 16% to Rs 499 crore versus Rs 430 crore YoY.
- Revenue up 17.3% to Rs 2,761 crore versus Rs 2,353 crore YoY.
- Net profit up 13.5% to Rs 326 crore versus Rs 287 crore YoY.
- Appointed Amit Dinesh Bhalerao as COO.
- Net profit at Rs 192 crore versus Rs 26.2 crore YoY.
- Revenue up 91.8% to Rs 1,732 crore versus Rs 903 crore YoY.
- Ebitda at Rs 281 crore versus Rs 46 crore YoY.
- Ebitda margin at 16.2% versus 5.1% YoY.
- Declared an interim dividend of Rs 2 per share.
- Net profit up 68.2% to Rs 1,416 crore versus Rs 842 crore QoQ.
- Revenue up 51.3% to Rs 3,125 crore versus Rs 2,065 crore QoQ.
- EBIT up 78.9% to Rs 1,862 crore versus Rs 1,041 crore QoQ.
- EBIT margin at 59.6% versus 50.4% QoQ.
- Makarand Padalkar resigned as MD & CEO.
- Appointed Manish Bhandari as CFO.
- Net profit up 12.3% to Rs 198 crore versus Rs 176 crore QoQ.
- Total income down 11% to Rs 1,687 crore versus Rs 1,896 crore QoQ.
- Net profit at Rs 294 crore versus a loss of Rs 66.7 crore QoQ.
- Total income up 45.5% to Rs 585 crore versus Rs 402 crore QoQ.
- Net profit up 15.8% to Rs 236 crore versus Rs 204 crore YoY.
- Revenue up 10.6% to Rs 2,621 crore versus Rs 2,369 crore YoY.
- Ebitda up 15.7% to Rs 390 crore versus Rs 337 crore YoY.
- Ebitda margin at 14.9% versus 14.2% YoY.
- Net profit up 38.2% to Rs 305 crore versus Rs 221 crore YoY.
- Revenue up 62.7% to Rs 1,109 crore versus Rs 680 crore YoY.
- Ebitda up 63.8% to Rs 989 crore versus Rs 604 crore YoY.
- Ebitda margin at 89.3% versus 88.7% YoY.
- Net profit up 51.6% to Rs 391 crore versus Rs 258 crore YoY.
- Revenue up 6% to Rs 2,703 crore versus Rs 2,549 crore YoY.
- Ebitda up 4.1% to Rs 432 crore versus Rs 415 crore YoY.
- Ebitda margin at 16.0% versus 16.3% YoY.
- One-time loss at Rs 81 crore versus a loss of Rs 11 crore YoY.
- Net profit up 34.1% to Rs 116 crore versus Rs 86.4 crore YoY.
- Revenue up 53.2% to Rs 924 crore versus Rs 603 crore YoY.
- Ebitda up 47.6% to Rs 174 crore versus Rs 118 crore YoY.
- Ebitda margin at 18.8% versus 19.5% YoY.
- Net profit up 5.8% to Rs 142 crore versus Rs 134 crore QoQ.
- Revenue up 4.1% to Rs 1,226 crore versus Rs 1,178 crore QoQ.
- EBIT up 5.9% to Rs 168 crore versus Rs 159 crore QoQ.
- EBIT margin at 13.72% versus 13.49% QoQ.