Tax Cut Pulls Global Bond Funds to India, Backing Rupee
India has eliminated taxes on foreign investors’ holdings of government bonds and lifted ownership caps, while the RBI pledged to subsidize hedging costs for offshore deposits. The reforms have attracted roughly ₹32,630 crore ($3.5 billion) of new inflows into index‑eligible Indian sovereign bonds since June 5. Asset managers such as Pictet, Neuberger Berman and M&G are signalling fresh allocations, and the rupee has recovered from its recent record low near 97 per dollar. The changes also pave the way for Euroclear settlement, further easing foreign access.
Indian Refiners in No Hurry to Return to West Asian Oil as Hormuz Reopens
India’s state‑run refiners have stocked enough crude for the next two months and are not rushing to resume long‑term purchases from West Asia despite the Strait of Hormuz reopening. In Q2, West Asian imports fell to their lowest since 2013...
NSE Set to List in One of Country's Largest IPOs
India’s National Stock Exchange (NSE) has filed draft prospectus papers for what could become one of the country’s largest initial public offerings, joining Reliance Jio as a mega‑IPO candidate. The bourse now serves over 2,200 listed companies, holds about 95%...
Cordelia Cruises Parent Sets ₹769-808 Price Band for Its ₹585-Crore IPO
Waterways Leisure Tourism, the operator of Cordelia Cruises, announced a ₹769‑₹808 per share price band for its ₹585‑crore ($70.5 million) IPO, offering up to 7.2 million new shares. The company will allocate roughly $57.8 million of the proceeds to lease deposits and payments...
SBI Board Approves ₹60,000 Crore Fundraising Plan for FY27
State Bank of India’s board approved a massive capital‑raising plan of up to ₹60,000 crore (≈ $7.2 billion) for FY 2026‑27. The bank will issue a mix of Basel III‑compliant AT1, Tier‑1, Tier‑2 and long‑term bonds, targeting both domestic and overseas investors through public offerings...
Prestige Hospitality Reported to Have Put IPO Plans on Hold, Explores Stake Sale Instead
Prestige Estates Projects Ltd. has halted its planned ₹2,700 crore ($286 million) IPO of its hospitality arm and is now courting private‑equity investors for a minority‑stake sale that could raise about $300 million. The decision follows a roughly 10% decline in the Sensex...
Broker’s Call: Procter & Gamble Hygiene and Health Care (Long)
Procter & Gamble Hygiene and Health Care (PGHH) posted flat FY26 revenue but lifted EBITDA 18% to a 27.3% margin, helped by roughly $10.4 million in productivity savings and a 14% cut in advertising spend. The stock has been de‑rated and...
Rupee Ends Flat as Crude Oil-Led Rally Faces Off Against Dollar Demand; Fed Verdict Looms
The Indian rupee ended the session flat at 94.5250 per U.S. dollar after briefly climbing to a six‑week high of 94.2925, a rally sparked by a sharp drop in Brent crude. Oil prices fell below $80 a barrel following the...
India's Strategic Oil Reserves Cover only 9-10 Days of Crude Imports: Report
A new CEEW report finds India’s strategic petroleum reserves cover only about 9‑10 days of net crude imports, far short of the 200‑plus days held by other import‑dependent economies such as Japan and South Korea. The study also highlights that...
FIA Backs SEBI’s Options Strike Framework, Seeks Minimum Standards and Safeguards
The Futures Industry Association (FIA) has endorsed SEBI’s draft framework that would allow Indian exchanges to add new option strike prices intraday as markets move. FIA argues the change would sharpen price discovery and give traders better risk‑management tools, especially...
The U.S. Is Using an Iranian Smuggling Tactic to Sneak Oil Out of the Gulf
The U.S. military has orchestrated a covert ship‑to‑ship oil transfer network off the coasts of Fujairah and Sohar to keep Gulf crude flowing despite Iran’s blockade of the Strait of Hormuz. Satellite imagery shows at least 92 vessels have participated...
Brokers’ Call: BEML (Buy)
Elara Securities upgrades BEML’s target to ₹2,620 (≈ $32) from a current price of ₹1,783 (≈ $22). The firm projects a strong FY27 acceleration with an executable orderbook of ₹55 billion (≈ $660 million) and a 15‑25% sales‑growth trajectory over the next three years, while...
SEBI Board May Bring Back Open Market Buybacks on June 19
The SEBI board on June 19 is set to revive open‑market buybacks via stock exchanges, re‑introducing the route phased out in 2023 but with tighter safeguards: a 66‑day execution window, a 40% minimum uptake in the first half, stricter promoter restrictions...
SAT to Hear Five Offshore Funds' Plea Against SEBI Adjudication Process on June 22
The Securities Appellate Tribunal (SAT) adjourned appeals by five offshore funds challenging the Securities and Exchange Board of India's (SEBI) adjudication process to a detailed hearing on June 22. The funds argue that SEBI’s adjudicating officer violated Rule 4(3) by failing to...
Dhan Launches US Stocks, ETFs Investing via GIFT City Route
Dhan has launched a platform that lets Indian investors buy US‑listed stocks and ETFs through the International Financial Services Centre (IFSC) in GIFT City. The service, delivered via Dhan’s subsidiary Raise IFSC Private Limited, partners with ViewTrade for brokerage and...
Broker’s Call: Adani Power (Neutral)
Macquarie has started coverage of Adani Power with a neutral rating and a target price of $2.77 per share, up from the current $2.60. The broker cites a structurally strong power demand outlook in India, highlighted by a May peak...
Gold Slumps ₹2,100 to ₹1.53 Lakh/10g; Silver Trades Flat in Delhi
Gold prices in Delhi slipped for a second day, dropping ₹2,100 (about $25) to ₹1.53 lakh per 10 grams, roughly $1,840. The decline follows heightened West Asian tensions that have stoked inflation concerns and weakened investor sentiment. Spot gold held steady at...
Sensex Today | Stock Market Live Updates: Sensex Rises 450 Pts, Nifty 50 Stays Above 23,300 Amid Volatility in Asian...
India’s equity markets rallied on June 10, with the Sensex climbing about 510 points to 74,429 and the Nifty 50 holding above 23,300. Banking and fast‑moving consumer goods (FMCG) stocks led the gains, while metal shares lagged amid higher crude prices....
Tata Steel and Tata Projects Plan Bond Sales After Year-Long Gap, Bankers Say
Tata Steel and Tata Projects are preparing to re‑enter India’s corporate bond market after a 15‑month pause. Tata Steel plans to raise about ₹3,000 crore (≈ $313 million) through five‑year bonds, while Tata Projects is targeting between ₹500 crore and ₹1,000 crore (≈ $52‑$104 million) via a...
India Bonds to Extend Gains as Easing Oil Boosts Sentiment
Indian government bonds are set to extend recent gains as oil prices slipped to around $94 a barrel, easing pressure on yields. The benchmark 2035 note is expected to trade between 6.92% and 6.98%, down from Monday's 6.95% close. The...
India Plans up to 2% Stake Sale in Hindustan Zinc via OFS, May Raise $525 Million
India’s finance ministry is preparing to sell up to a 2% stake in Hindustan Zinc Ltd. via an open‑offer, a deal that could fetch as much as 50 billion rupees (about $525 million). The transaction is slated for later this month or...
RBI Holds Repo Rate at 5.25%; Markets Rise as Financials Gain, Metals Drag
India’s central bank left its repo rate unchanged at 5.25% on June 5, 2026, while the Monetary Policy Committee lifted its FY27 inflation outlook to 5.1% and trimmed growth to 6.6%. The RBI also announced a package of capital‑account measures—including expanded...
Rajesh Exports Chair Asserts Accuracy of Financials After SEBI Allegations
India’s Rajesh Exports’ chairman Rajesh Mehta told Reuters that the company’s financial statements are accurate, rejecting SEBI’s claim that it inflated revenue through overseas entities. SEBI alleges that 97‑99% of the jeweller’s revenue, amounting to roughly ₹15.15 lakh crore ($158 billion), came from...
Meesho’s AI Discovery Engine PRISM Now Drives over 75% of Orders
Meesho’s proprietary AI discovery engine PRISM now powers more than 75% of the platform’s orders, handling roughly 6 trillion inferences daily and peaking at 100 million inferences per second during sales events. The system leverages over 100 ranking models trained on 400 trillion...
Sensex Today | Stock Market Live: Sensex Falls over 600 Points, Nifty Near 23,300 in Early Trade
Indian equities opened sharply lower on June 3, with the Sensex slipping 647.9 points to 74,001.98 and the Nifty down 180.3 points to 23,303.25. The decline came despite record‑high S&P 500 and Nikkei gains, underscoring a divergence between global optimism and domestic...
Crude Oil Futures Rise After Israel Orders Expansion of Military Operations in Lebanon
Crude oil futures surged on Monday after Israeli Prime Minister Benjamin Netanyahu ordered a deeper incursion into Lebanon. Brent crude rose 2.18% to $93.11 per barrel, while U.S. WTI climbed 2.52% to $89.56. Indian‑rupee‑denominated contracts jumped about 2.9%, with June...
Dr Reddy’s to Ring NYSE Closing Bell to Mark 25 Years of Listing
Dr Reddy’s Laboratories will ring the New York Stock Exchange closing bell on May 29, 2026 to celebrate 25 years since its historic 2001 NYSE debut—the first Asian pharmaceutical firm outside Japan to list on the exchange. Chairman Satish Reddy highlighted the milestone as proof...
Coal India Asks Subsidiaries to Ramp up Supplies Amid Record Power Demand
State‑run Coal India has instructed its eight subsidiaries to accelerate coal deliveries to power plants as India’s electricity demand surged to a record 270.8 GW amid an intense heatwave driven by El Niño. Twenty‑one plants face critically low coal inventories, with less...
Indian Debt Market Remains Resilient Amid Geopolitical Volatility Owing to Strong Corporate Balance Sheets: CareEdge MD
CareEdge Managing Director Mehul Pandya said India’s debt market remains resilient despite heightened geopolitical volatility, thanks to deleveraged corporate balance sheets. He contrasted the current environment with the 7‑8‑year‑ago cycle when cash‑flow shocks triggered widespread defaults. Ongoing conflict in West...
Union Bank to Raise ₹8,000 Crore Through Debt, Equity Mix
Union Bank of India approved a capital raise of up to ₹8,000 crore (≈ $980 million). The plan combines up to ₹5,000 crore ($610 million) of Basel III‑compliant additional Tier 1 or Tier 2 bonds and ₹3,000 crore ($366 million) of equity through a public issue, rights issue, or private...
REITs Distribute over ₹8,900 Crore to Unitholders in FY26
India’s five listed REITs handed out over ₹8,900 crore (~$1.07 bn) to 425,000 unitholders in FY 2025‑26, a >50% year‑on‑year increase. The sector’s gross asset value topped ₹2.72 lakh crore (~$32.8 bn) and market capitalisation exceeded ₹1.7 lakh crore (~$20.5 bn) as of May 2026. In the March quarter the...
Nifty Holds Near 24,000, Sensex Above 76,200 at Midday; Eicher Motors, Wipro Lead Gains
India’s Nifty 50 held at 23,954 points and the Sensex at 76,255 on May 25, staying just below the 24,000 and 76,700 resistance levels respectively. Market breadth was strong, with roughly 2,841 stocks advancing versus 1,276 declining. Auto leader Eicher...
Bain Capital-Backed Dhoot Transmission Files Updated IPO Papers with SEBI
Auto component maker Dhoot Transmission, backed by Bain Capital, filed an updated IPO draft with SEBI to raise about $169 million in fresh equity and up to $250 million overall, including an offer‑for‑sale by the private‑equity sponsor. The fresh issue of ₹1,400 crore...
Rupee Undervalued, Inflation Gap at Record Low, Time to Turn Constructive on Indian Assets: DSP Mutual Fund
DSP Mutual Fund’s latest market outlook argues the Indian rupee is fundamentally undervalued, with a Real Effective Exchange Rate near 89—its most competitive level since the 2008 crisis. The inflation differential between India and the United States has narrowed to...
Institutional Buyers Over-Subscribe Central Bank of India OFS by 2 Times; Put in ₹2,380 Cr Bids
India's Central Bank of India announced an Offer‑For‑Sale of up to 8% of its shares at a floor price of ₹31 per share. Institutional investors placed bids worth ₹2,380 crore (about $286 million), oversubscribing the 32.58 crore shares on offer by 2.36 times....
KFintech Launches AI-Powered Investor Relations Platform AEGIX for Listed Companies
KFin Technologies launched AEGIX, India’s first AI‑native investor relations platform, targeting companies listed on the NSE and BSE as well as pre‑IPO firms. The solution combines ownership analysis, market intelligence, investor targeting and an AI assistant named AiRa into a...
Bhavish Aggarwal to Ola Electric Shareholders: Forgive the Burn, Focus on the Gigafactory
In his May 20 shareholder letter, Bhavish Aggarwal urged investors to overlook a bruising FY26 for scooters and focus on Ola Electric’s nascent battery platform. The company saw deliveries plunge 43.5% to 173,794 units and revenue halve to roughly $271 million, yet...
Keto Motors Drives Into BSE, Thanks to Reverse Merger
Hyderabad‑based Keto Motors entered the Bombay Stock Exchange through a reverse merger with Taaza International Ltd, trading at a 5% premium and closing at ₹110.23 per share. The NCLT‑approved deal gave Keto shareholders three Taaza shares for every two held...
India’s 360 ONE Seeks up to $500 Million for Private Credit Fund
India’s 360 ONE Asset Management is seeking up to $500 million for its sixth private‑credit fund, which could launch as early as June. The fund will target wealthy Indian individuals, family offices and overseas institutions to finance mid‑sized companies, acquisition deals, refinancing...
Analysts Flag US-Iran Conflict, Crude Prices as Key Market Triggers This Week
Analysts say the escalating US‑Iran conflict and rising Brent crude, now above $109 a barrel, will dominate Indian market sentiment this week. The rupee breached the 96 per USD threshold, adding currency stress amid inflation worries. Investors will also watch foreign‑institutional...
Broker’s Call: Affle 3i (Buy)
Elara Securities reaffirmed a Buy rating on Affle 3i, keeping its target price at ₹2,240 (≈ $27) while the stock trades around ₹1,584.40 (≈ $19). The firm posted Q4 revenue up 20.3% YoY, led by India and emerging markets, and lifted its EBITDA...
Broker’s Call: Physicswallah (Buy)
Physicswallah, the Indian ed‑tech firm that began as a YouTube channel in 2016, is now being launched by HSBC with a Buy rating. The broker sets a target price of ₹135 (≈$1.63) versus a current market price of ₹107.25 (≈$1.29)....
Net Holdings in Gold ETFs Down 80% Since January 1
Net holdings in physically‑backed gold ETFs have slumped nearly 80% since the start of 2026, with $629 million of net outflows recorded in the week to May 9. While North America led the withdrawals—$1.72 billion in net exits—Asian investors supplied $16.16 billion of net...
Banks Resume Gold, Silver Imports After Month-Long Halt over 3% Levy
Indian banks have restarted gold and silver imports after a month‑long pause caused by a 3% integrated goods and services tax (IGST) levy. The banks cleared about 9 metric tons of gold and 34 metric tons of silver in May,...
JSW Steel April Output Dips 1% as Blast Furnace Shutdown Weighs on Production
JSW Steel posted April crude‑steel output of 2.118 million tonnes, a 1% decline from a year earlier, as Blast Furnace 3 at its Vijayanagar plant was taken offline for a capacity‑upgradation. Excluding the shutdown, production would have risen roughly 10% thanks to...
Geopolitical Jitters Drag Nifty Lower; Midcaps Buck the Trend
Indian equity markets slipped on Friday as renewed US‑Iran skirmishes pushed Brent crude above $100 per barrel, eroding optimism around a near‑term peace deal. The Nifty 50 closed at 24,176.15, down 0.62%, while the Sensex fell 0.66% to 77,328.19. Despite the...
Bharat Forge Shares Hit 52-Week High After Q4, Brokerages Upbeat on Defence, Exports
Bharat Forge’s March‑quarter earnings lifted the stock to a 52‑week peak of ₹2,044 (≈ $24.6), closing flat at ₹1,989.70 (≈ $24.0). Consolidated revenue jumped 17.5% YoY to ₹4,528 crore (≈ $545 million) and EBITDA rose to ₹774 crore (≈ $93 million), driven by stronger exports and better operational...
OnEMI Technology Solutions Shares End with 22% Listing Gains
OnEMI Technology Solutions debuted on the NSE with a 22% price jump, closing at ₹208.63 after listing at an 11% premium to its IPO price of ₹171. The ₹926 crore ($112 million) offering was oversubscribed 9.5 times overall, with institutional demand hitting 24.9 times....
Nifty Slips to 24,160, HDFC Bank and Coal India Lead Losses as Oil Holds Above $101
Indian equity indices slipped on Friday, with the Nifty 50 falling 0.69% to 24,160 points and the Sensex down 0.73% to 77,278. Heavy selling in HDFC Bank (down 2.14% on roughly $177 million of trade) and Coal India drove the decline, while foreign institutional...
India Demand Subdued on Higher Prices, China Premiums Hold Firm
Gold demand in India weakened as higher spot prices prompted buyers to delay purchases, pushing April imports toward a 30‑year low of roughly 15 metric tons. Dealers offered discounts of up to $15 per ounce and premiums of $6 per ounce...