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India Market Recap

Indian equity benchmarks ended Wednesday's session on a strong note, driven by broad-based buying in information technology and metal stocks. Investors also positioned themselves ahead of the US Federal Reserve's monetary policy announcement. The NSE Nifty 50 gained 1.1% to close near 24,250, while the BSE Sensex advanced more than 800 points, or 1.1%, to settle above 77,600. The rally reflected improved investor sentiment despite lingering geopolitical concerns. On the technical front, Nifty support is placed in the 24,000–24,100 range, while resistance is seen between 24,350 and 24,450.

US Market Recap

Wall Street witnessed a sharp sell-off on Wednesday as investors reduced risk exposure amid soaring oil prices, escalating geopolitical tensions in the Middle East, and the US Federal Reserve's decision to keep interest rates unchanged. The Dow Jones Industrial Average plunged 1,153.18 points, or 2.19%, recording its steepest single-day decline since April 2025. The S&P 500 fell 1.52%, while the Nasdaq Composite declined 1.74%, ending the session more than 10% below its intraday record high. Although US equity futures recovered modestly later in the day following strong earnings from major technology companies, investor sentiment remained cautious amid rising geopolitical and inflationary risks.

Asian Market Update

Asian markets traded mixed on Thursday as investors assessed the Federal Reserve's policy decision alongside ongoing geopolitical developments. Japan's Nikkei 225 slipped 0.25%, while the Topix declined 0.59%. South Korea's Kospi rebounded 0.89% after the previous session's sharp losses, whereas the Kosdaq fell 0.73%. Australia's S&P/ASX 200 eased 0.26%, reflecting cautious sentiment across the region.

Commodity Check

Crude oil prices remained elevated after posting their strongest daily gain in more than two weeks, supported by escalating tensions in the Middle East and declining US crude inventories. Brent crude traded near $90 per barrel after surging almost 8% in the previous session, while US West Texas Intermediate (WTI) hovered just below $84 per barrel. Oil prices continued to draw support from concerns that the conflict between the United States and Iran could further disrupt global energy supplies. Market sentiment remained cautious after US President Donald Trump pledged additional military action against Iran following an attack on US forces in Jordan, while uncertainty over negotiations related to the Strait of Hormuz kept the geopolitical risk premium elevated.

Stocks In News

Ramco Systems: CFS Aero, a leading UK-based aerospace engineering company, selected Ramco Aviation Software to digitise and manage its engine and APU MRO operations.
NINtec Systems: Successfully delivered an enterprise-scale AI transformation platform for a leading European automotive marketplace.
Hind Rectifiers: Secured its first order from the United States for traction motor assemblies, marking its entry into the U.S. market. Delivery is scheduled for FY27.
SBI Cards: Launched the Google Pay Flex SBI Card, a new rewards credit card for the domestic market.
TeamLease Services: Approved the divestment of its entire 30% stake in Crystal HR and Securities Solutions Pvt. Ltd. for Rs 10 crore.
Madhya Bharat Agro Products: Board approved raising up to Rs 317.48 crore through a preferential issue of equity shares to non-promoter investors.
Capri Global Capital: Announced a collaboration with OpenAI to deploy enterprise-grade generative AI across its lending operations and key business functions.
Tata Chemicals: Kenyan authorities directed subsidiary Tata Chemicals Magadi Ltd. to suspend mining operations and soda ash exports.
Cupid: Announced an additional follow-on investment of $5 million in GII Healthcare Investment Ltd. to strengthen its strategic partnership.
Shyam Metalics and Energy: Commissioned a 1.5 MTPA beneficiation plant at Sambalpur, Odisha, with an investment of Rs 150 crore.
Cochin Shipyard: ACC approved the extension of the additional charge of Chairman & Managing Director held by Jose V. J. (Director – Finance) for another seven months.
Sumeet Industries: Board approved a conversion-based preferential issue of 84.31 lakh shares worth Rs 28 crore and approved Rs 49.90 crore for CP plant integration.
IRCTC: Rahul Himalian was given additional charge as Chairman and Managing Director for nine months from July 20, 2026.
India Pesticides: Obtained registration for a fungicide formulation in Morocco, marking its entry into the Moroccan agrochemical market.
Jagsonpal Pharmaceuticals: Completed the acquisition of an 85% stake in Aequitas Healthcare Pvt. Ltd. for Rs 20.8 crore.
Triveni Engineering & Industries: Triveni Power Transmission allotted 7.35 crore equity shares to eligible shareholders under the Scheme of Arrangement and ceased to be a subsidiary, becoming an associate.
Steelcast: Board approved setting up a greenfield foundry with an additional capacity of 8,500 tonnes at an investment of Rs 120 crore.
Vikran Engineering: Commissioned the 132 kV Miao–Namsai transmission line in Arunachal Pradesh, strengthening power transmission infrastructure in the North East.
iValue Infosolutions: CEO Shrikanth Manohar Shitole resigned, effective July 31, 2026.
Eicher Motors: Approved a Rs 1,225 crore Phase-I greenfield expansion in Andhra Pradesh, adding capacity of up to 4.5 lakh motorcycles annually by FY30. Royal Enfield's total capacity will increase to 24.5 lakh units per year.
BHEL: Clarified that reports on the 1200 kV transformer relate to developments from 2011 and 2014.
Oberoi Realty: Entered into a development agreement to redevelop a 2,430 sq m land parcel at Malabar Hill, with free-sale entitlement of up to 68,000 sq ft.
GAIL / RCF: GAIL and RCF signed an MoU for a 1.27 MMTPA gas-based fertiliser project in Maharashtra.
SignatureGlobal: Signed a collaboration agreement to develop a 6.14-acre project in Sohna, Gurugram, with development potential of 0.52 million sq ft.
Aye Finance: Allotted 22,000 non-convertible debentures worth Rs 220 crore on July 29, 2026.
Brigade Enterprises: Acquired a two-acre land parcel on Kanakapura Road for a premium residential project with a gross development value of Rs 400 crore.
NTPC Green: A 50 MW solar project in Rajasthan will commence commercial operations on July 31, 2026, taking the group's total installed capacity to 10,836.56 MW.
Novartis India: Novartis AG completed the sale of its 70.68% stake (1,74,50,680 shares) to a ChrysCapital-led consortium. Following the change in control, the company's Chairperson, Whole-time Directors, CFO and Independent Directors resigned. Dr. Vikas Gupta was appointed Managing Director & CEO, Ramesh Ramadurai was named Chairperson, and three new Independent Directors joined the Board. ChrysCapital plans to expand the company's portfolio and drive long-term growth in India's branded pharmaceuticals market
Astral: Board withdrew the Composite Scheme of Arrangement, with the proposed demerger of the chemicals business deferred until it achieves greater scale.
NBCC: Signed an agreement with the Seychelles government for the $75 million Ile Aurore Housing Project comprising 1,008 affordable housing units and related infrastructure, funded through EXIM Bank's Line of Credit.
Premier Energies: Board will meet on August 6, 2026, to consider Q1 results, the AGM notice and a fund raise of up to Rs 5,000 crore.
Punjab National Bank: Board approved setting up a $1.5 billion Medium Term Note (MTN) programme and raising foreign currency funds through bond issuances via its IFSC Banking Unit in GIFT City.
UPL: Subsidiary UPL Brasil will divest its entire stake in Brazil-based joint venture Bioplanta for a nominal consideration of $20. The transaction is expected to close by July 31, 2026.
Waaree Energies: Commissioned 118.8 MW of capacity from the 170 MW Unit 3 at its solar power facility in Neemuch Solar Park, Madhya Pradesh.
Kesar India: Announced the acquisition of a stake in Kesar Lands Pvt. Ltd.
Rainbow Children's Medicare: Subsidiary Rainbow Women & Children's Hospital will develop a new women and children's hospital in Malad, Mumbai, at an estimated cost of Rs 90 crore. Fountainhead TCHM Healthcare LLP will acquire a 24% stake in the subsidiary, while Rainbow will retain a 76% stake and management control
Lemon Tree Hotels: Signed two licence agreements for Lemon Tree Hotel, Siddharthanagar, Nepal, and Keys Select by Lemon Tree Hotels, Vijayawada.
Sun Pharma: Received approval to manufacture and market semaglutide in Brazil.
Garden Reach Shipbuilders & Engineers (GRSE) gained after the company reported a strong set of earnings for the quarter ended June, with consolidated net profit rising nearly 44% year-on-year, although operating margin narrowed marginally. The stock cooled off soon after. The state-run defence shipbuilder's net profit increased 43.8% to ₹172.8 crore during the quarter from ₹120.2 crore a year earlier. Revenue from operations rose 38.5% to ₹1,814.6 crore from ₹1,309.9 crore. Earnings before interest, tax, depreciation and amortisation (EBITDA) grew 33.3% to ₹149.2 crore from ₹111.9 crore. EBITDA margin, however, slipped to 8.2% from 8.5% in the corresponding quarter last year.