India Market Recap
Indian equity benchmarks extended their gains on Thursday, supported by buying in heavyweight stocks such as Reliance Industries and HDFC Bank. The NSE Nifty 50 rose 66.95 points, or 0.28%, to close at 24,317.15, while the BSE Sensex gained 273.55 points, or 0.35%, to settle at 77,928.15. Positive sentiment in index heavyweights helped the market maintain its upward momentum despite mixed global cues. On the technical front, Nifty support is placed in the 24,150–24,200 range, while resistance is seen between 24,450 and 24,500.
US Market Recap
Wall Street staged a strong rebound on Thursday after the previous session's sharp decline, as upbeat earnings from Microsoft and optimism around artificial intelligence boosted technology stocks. The S&P 500 opened 1% higher at 7,385.30, while the Nasdaq Composite surged 1.54% to 24,819.37. The Dow Jones Industrial Average also advanced 0.64% to 51,918.60 in early trade, reflecting improved investor sentiment following robust earnings from large-cap technology companies.
Asian Market Update
Asian markets rallied on Friday, led by a sharp surge in South Korean equities after strong gains in semiconductor stocks. South Korea's Kospi jumped more than 13%, with SK Hynix and Samsung Electronics rallying sharply and triggering a temporary trading halt. Japan's Nikkei 225 gained more than 3%, while Australia's S&P/ASX 200 advanced 0.89% as positive technology sentiment lifted regional markets.
Commodity Check
Crude oil prices declined after Saudi Arabia proposed forming a multinational naval coalition to safeguard key shipping routes in the Red Sea and the Strait of Hormuz, easing immediate concerns over supply disruptions. Brent crude fell nearly 2% to settle at $89.03 per barrel, while US West Texas Intermediate (WTI) declined around 1% to $83.59 per barrel. The proposal, backed by discussions involving more than 40 countries, aims to strengthen maritime security following attacks on commercial vessels by Iran-backed Houthi forces. While geopolitical tensions remain elevated, hopes of improved protection for critical shipping lanes helped reduce the risk premium in oil prices.
Stocks In News
- Mankind Pharma: Board approved a Rs 150 crore corporate guarantee for wholly owned subsidiary Bharat Serums and Vaccines to secure its credit facilities.
- Fischer Medical Ventures: Associate company Nanomedic Technologies received CDSCO import approval for the Spincare Portable Wound Care System, enabling its launch in India. Fischer holds exclusive distribution rights across India and Southeast Asia.
- Garden Reach Shipbuilders & Engineers: Received a Rs 1,032.07 crore Notification of Award from ONGC for construction of four Platform Supply Vessels, to be executed over 48 months.
- Global Health: Board approved a revised plan for its upcoming Guwahati hospital, increasing planned capacity to 650 beds from 400 beds with an estimated investment of Rs 970 crore.
- Thermax: Board approved merger of wholly owned subsidiary Thermax Cooling Solutions with the company and demerger of the Bio-CNG EPC business of Thermax Bioenergy Solutions into Thermax, subject to regulatory and NCLT approvals.
- Niva Bupa Health Insurance: Board approved raising up to Rs 500 crore through non-convertible debentures on a private placement basis.
- Refex Industries: Secured a rate contract worth about Rs 22.75 crore from a Maharatna CPSE for ash transportation to road construction sites, to be executed over about 12 months.
- Arkade Developers: Launched Arkade Sapphire, a boutique mixed-use residential and commercial project in Santacruz West, Mumbai.
- Hyundai Motor India: Appointed Mukundan MS as Whole-time Director and Chief Manufacturing Officer from Sept. 1, 2026, subject to shareholder approval. Appointed Young Geon Kim as Senior Management Personnel from Aug. 1, 2026.
- Gillette India: Appointed Robin Thadathil as Additional Executive Director from Aug. 1, 2026.
- PVR INOX: Opened a three-screen premium multiplex at Mall 11, Jabalpur, taking its network to 1,782 screens across 355 properties.
- Tata Power: Completed acquisition of 100% stake in Ryapte Power Transmission for Rs 10.87 crore. Tata Power Renewables secured an 800 MW Inter-State Transmission System connectivity project with an investment of Rs 5,750 crore.
- Billionbrains Garage Ventures (Groww): ICRA upgraded the company's issuer rating to AA (Stable) from AA- (Stable).
- SJVN: Ministry of Power extended the additional charge of Chairman and Managing Director held by Bhupender Gupta for three months from Aug. 1, 2026, or until a regular CMD is appointed.
- REC: Incorporated Kukshi Alirajpur Transmission for the Kukshi/Alirajpur transmission project. Transferred its 100% stake in Ryapte Power Transmission to Tata Power for Rs 110.87 crore. The SPV ceased to be its subsidiary.
- Bank of India: Revised MCLR rates from Aug. 1, 2026. Increased three-month MCLR to 8.35% from 8.25% and one-year MCLR to 8.80% from 8.75%. Other tenors remain unchanged.
- LIC: Received a GST demand order for FY23 involving GST of Rs 99.10 crore, along with applicable interest and penalty of Rs 9.91 crore.
- Union Bank of India: Board approved raising up to USD 2 billion through a Medium Term Note programme via debt issuances from its Dubai and/or Sydney branches.
- Clean Science and Technology: Wholly owned subsidiary Clean-Fino Chem approved incorporation of a wholly owned subsidiary in the Netherlands with an initial investment of EUR 50,000 for specialty chemicals trading and distribution.
- Astra Microwave Products: Received an order worth Rs 2,205.23 crore from HAL for supply of 122 AAAUs and 121 Interface Frames for Uttam Radar. Execution is scheduled over five years.
- AWL Agri Business: Appointed Pankaj Goyal as Chief Financial Officer from July 31, 2026.
- Rajratan Global: Reappointed Yashovardhan Chordia as CEO and Deputy Managing Director.
- GAIL: Entered the FTSE4Good Index Series.
- APAR Industries: Shareholders considered approval to raise up to Rs 2,500 crore through issuance of securities. Voting results will be announced separately.
- Shalby: Approved working capital facilities of up to Rs 129.70 crore from Kotak Mahindra Bank.
- Maruti Suzuki: CCI hearing adjourned to Sept. 28, 2026.
- S.P. Apparels: Terminated the proposed loan agreement with wholly owned subsidiary S.P. Apparels (UK) as no loan was disbursed and conditions precedent were not fulfilled. No material financial impact.
- Hariom Pipe Industries: Subsidiary Hariom Power & Energy received the commissioning certificate for its 5 MW AC (6 MW DC) solar power project in Maharashtra. Commercial operations commenced on July 8, 2026.
- Lemon Tree Hotels: Opened its second property in Mussoorie, Keys Prima by Lemon Tree Hotels, on Kempty Road.
- Prabha Energy: Reappointed two directors and proposed a QIP of up to Rs 150 crore.
- ICICI Bank: Completed issuance of USD 1 billion senior unsecured fixed-rate notes under its USD 7.5 billion Global Medium Term Note Programme.
- TVS Motor: Expanded the TVS Raider Super Squad Edition with a new Marvel Doctor Doom-inspired variant.
- Associated Alcohols & Breweries: FSSAI directed the company to stop sales of one whisky and one rum brand over label declaration of artificial flavour. The company plans a legal challenge and is assessing the operational and financial impact.
- Ravindra Energy: Executed a loan agreement with Tata Capital for a term loan facility of Rs 100 crore.
- PC Jeweller: Cleared and repaid all outstanding debt of five out of 14 consortium banks. The company has repaid more than 96% of its outstanding bank debt.
- Uno Minda: Acquired an additional 19% stake in Minda Onkyo India, increasing its holding to 99%.
- Mahindra & Mahindra: Incorporated step-down subsidiary Novavayu Aerospace for aerospace products. Mahindra Last Mile Mobility achieved unicorn status with a valuation of Rs 10,822 crore after a Rs 322 crore fundraise. Lightrock joined the funding round.
- AstraZeneca Pharma India: NPPA issued a demand notice of Rs 148.66 crore over alleged overcharging for Symbicort Turbuhaler between May 2016 and November 2025.
- TTK Prestige: Reached a long-term settlement with workers at its Hosur factory.
- P N Gadgil Jewellers: Launched its QIP with a floor price of Rs 640.69 per share and may offer a discount of up to 5% to the floor price.
Earnings And Updates
- Profit up 14.67% to Rs 42.2 crore versus Rs 36.8 crore YoY
- Revenue up 15% to Rs 1,442 crore versus Rs 1,254 crore YoY
- Ebitda up 17% to Rs 163 crore versus Rs 140 crore YoY
- Ebitda Margin at 11.3% versus 11.1% YoY
- Reappoints Nishant Arya as MD for three years
- Reappoints Nishant Arya as MD from May 18, 2027
- To raise up to Rs 1,500 crore via issuance of securities
- Net Loss at Rs 791 crore versus loss of Rs 1,197 crore YoY
- Revenue up 37.3% to Rs 6,812 crore versus Rs 4,961 crore YoY
- Ebitda Loss at Rs 650 crore versus loss of Rs 954 crore YoY
- Other Income at Rs 211 crore versus Rs 87 crore YoY
- Net Profit down 0.2% to Rs 158.7 crore versus Rs 159 crore YoY
- Revenue up 26.5% to Rs 1,304 crore versus Rs 1,031 crore YoY
- Ebitda up 26.3% to Rs 286.8 crore versus Rs 227 crore YoY
- Ebitda Margin down 3 bps to 21.99% versus 22.02% YoY
- Raises Guwahati hospital capacity to 650 beds from 400 beds
- Net Profit up 56.2% to Rs 28.9 crore versus Rs 18.5 crore YoY
- Revenue up 32% to Rs 412 crore versus Rs 312 crore YoY
- Ebitda up 52.6% to Rs 49.3 crore versus Rs 32.3 crore YoY
- Ebitda Margin at 12% versus 10.3% YoY
- Net Profit down 4.6% to Rs 524 crore versus Rs 549 crore YoY
- Revenue down 11.8% to Rs 5,027 crore versus Rs 5,698 crore YoY
- Ebitda up 11.8% to Rs 851 crore versus Rs 761 crore YoY
- Ebitda Margin at 16.9% versus 13.4% YoY
- Net Profit down 83.4% to Rs 25.2 crore versus Rs 152.4 crore YoY
- Revenue up 6.7% to Rs 2,303 crore versus Rs 2,158 crore YoY
- Ebitda down 69.5% to Rs 68.6 crore versus Rs 225 crore YoY
- Ebitda Margin at 3% versus 10.4% YoY
- Board approves demerger of Bioenergy Solutions unit
- Arm Thermax Cooling Solutions to merge with company
- Net Profit up 13.2% to Rs 60.6 crore versus Rs 53.5 crore YoY
- Revenue up 33% to Rs 470 crore versus Rs 353 crore YoY
- Ebitda up 30% to Rs 134.5 crore versus Rs 103.5 crore YoY
- Ebitda Margin at 28.6% versus 29.3% YoY
- Net Profit down 30.9% to Rs 23.9 crore versus Rs 34.6 crore QoQ
- Revenue down 6.4% to Rs 210 crore versus Rs 225 crore QoQ
- Ebit down 90.7% to Rs 2.8 crore versus Rs 30 crore QoQ
- Ebit Margin at 1.3% versus 13.4% QoQ
- One-time gain of Rs 9.8 crore versus loss of Rs 3.1 crore QoQ
- Net Profit up 3.3% to Rs 566 crore versus Rs 548 crore YoY
- Revenue up 54.8% to Rs 4,921 crore versus Rs 3,178 crore YoY
- Ebitda up 61.2% to Rs 1,664 crore versus Rs 1,032 crore YoY
- Ebitda Margin at 33.8% versus 32.5% YoY
- One-time loss of Rs 21 crore in Q1
- Net Profit up 48.3% to Rs 350 crore versus Rs 236 crore YoY
- Revenue up 17.5% to Rs 20,048 crore versus Rs 17,059 crore YoY
- Ebitda up 88.8% to Rs 693 crore versus Rs 367 crore YoY
- Ebitda Margin at 3.5% versus 2.2% YoY
- Net Profit down 0.5% to Rs 65.8 crore versus Rs 66.1 crore YoY
- Revenue up 20.1% to Rs 893 crore versus Rs 744 crore YoY
- Ebitda up 13.6% to Rs 132 crore versus Rs 116 crore YoY
- Ebitda Margin at 14.7% versus 15.6% YoY
- Net Profit up 34% to Rs 67 crore versus Rs 50 crore YoY
- Revenue up 23.5% to Rs 1,105 crore versus Rs 895 crore YoY
- Ebitda up 25.4% to Rs 124 crore versus Rs 99.1 crore YoY
- Ebitda Margin at 11.2% versus 11.1% YoY
- Net Profit up 16.8% to Rs 11.1 crore versus Rs 9.5 crore YoY
- Revenue up 21.9% to Rs 189 crore versus Rs 155 crore YoY
- Ebitda up 61.1% to Rs 13.8 crore versus Rs 8.5 crore YoY
- Ebitda Margin at 7.3% versus 5.5% YoY
- Appoints Sameer Jain as CFO from Oct. 1
- Vinay Mittal to retire as CFO from Sept. 30
- Net Profit up 19.3% to Rs 48.5 crore versus Rs 40.6 crore YoY
- Revenue up 9.1% to Rs 1,145 crore versus Rs 1,049 crore YoY
- Ebitda up 15.6% to Rs 78.4 crore versus Rs 67.9 crore YoY
- Ebitda Margin at 6.8% versus 6.5% YoY
- Net Profit up 31.7% to Rs 160 crore versus Rs 121.5 crore YoY
- Revenue up 6.3% to Rs 640 crore versus Rs 602 crore YoY
- Ebitda up 22.4% to Rs 211 crore versus Rs 172 crore YoY
- Ebitda Margin at 33% versus 28.6% YoY
- Ebitda Margin at 19.5% versus 22.7% QoQ
- Ebitda down 2.9% to Rs 101 crore versus Rs 104 crore QoQ
- Revenue up 12.7% to Rs 517 crore versus Rs 458 crore QoQ
- Net Profit up 9% to Rs 98.2 crore versus Rs 90.1 crore QoQ
- Net Profit up 21.5% to Rs 549 crore versus Rs 452 crore YoY
- Revenue up 12% to Rs 2,943 crore versus Rs 2,626 crore YoY
- Ebitda up 48% to Rs 446.6 crore versus Rs 301.7 crore YoY
- Ebitda Margin at 15.2% versus 11.5% YoY
- Revenue down 3.9% to Rs 60,794 crore versus Rs 63,270 crore QoQ
- Ebitda down 5.7% to Rs 9,264 crore versus Rs 9,828 crore QoQ
- Ebitda Margin at 15.2% versus 15.5% QoQ
- Profit down 20.8% to Rs 2,318 crore versus Rs 2,926 crore QoQ
- One-time loss of Rs 345 crore in Q1
- Approves capex of Rs 33,873 crore for capacity addition
- To raise Neelachal Ispat capacity by 4.8 MTPA
- Net Profit at Rs 155 crore versus Rs 43 crore YoY
- Revenue up 42.4% to Rs 2,387 crore versus Rs 1,676 crore YoY
- Ebitda up 79.8% to Rs 383 crore versus Rs 213 crore YoY
- Ebitda Margin at 16% versus 12.7% YoY
- Appoints CEO Suyog Kotecha as MD
- Net Profit down 0.2% to Rs 116.2 crore versus Rs 116.4 crore YoY
- Revenue up 39.7% to Rs 1,063 crore versus Rs 761 crore YoY
- Ebitda up 12.2% to Rs 174 crore versus Rs 155 crore YoY
- Ebitda Margin at 16.4% versus 20.4% YoY
- Net Profit down 13.5% to Rs 22.1 crore versus Rs 25.5 crore YoY
- Revenue up 16.8% to Rs 116 crore versus Rs 99.3 crore YoY
- Ebitda down 2.2% to Rs 31.4 crore versus Rs 32.1 crore YoY
- Ebitda Margin at 27% versus 32.3% YoY
- Net Profit up 13.8% to Rs 306 crore versus Rs 269 crore QoQ
- Total Income up 8% to Rs 1,382 crore versus Rs 1,281 crore QoQ
- To raise funds up to Rs 500 crore via NCDs
- To invest Rs 100 crore in arm Nuvama Asset Management
- Reappoints Birendra Kumar as Chairperson
- Net Profit down 23.6% to Rs 30.7 crore versus Rs 40.2 crore YoY
- Revenue up 12% to Rs 327 crore versus Rs 292 crore YoY
- Ebitda down 13.7% to Rs 66.7 crore versus Rs 77.3 crore YoY
- Ebitda Margin at 20.4% versus 26.5% YoY
- Net Profit up 9.9% to Rs 1,499 crore versus Rs 1,364 crore YoY
- Total Income down 1.4% to Rs 7,086 crore versus Rs 7,186 crore YoY
- Net Profit down 35.1% at Rs 889 crore versus Rs 1,369 crore.
- Revenue down 0.5% at Rs 16,335 crore versus Rs 16,413 crore.
- Ebitda down 30.8% at Rs 1,512 crore versus Rs 2,186 crore.
- Margin at 9.3% versus 13.3%.