Leapfrog Engineering IPO Subscribed 1.28 Times on Day 1, QIB Demand Leads Surge
Leapfrog Engineering Services, a Bengaluru‑based EPCC firm, opened its SME IPO on June 17, 2026, receiving 1.28× overall subscription. Qualified institutional buyers drove demand, subscribing 12.48×, while retail interest was modest at 29%. The issue includes a fresh issue of 3.46 crore shares worth Rs 79.60 crore (~$9.6 million) and an OFS of 38.75 lakh shares (~$1.1 million). Proceeds will fund an assembling unit, working capital and general corporate purposes, as the company reports FY25 revenue of Rs 134.66 crore (~$16.2 million) and a Rs 384 crore (~$46 million) order book.
Pet Healthcare Startup Vetic Raises $40 Million in Funding Led by Bessemer Venture Partners
Pet healthcare startup Vetic announced a $40 million Series round led by Bessemer Venture Partners, with participation from Greenoaks Capital, Lachy Groom, and JSW Family Office. The capital will fund a doubling of its clinic network, a national rollout of Vet‑at‑Home...
Government to Sell up to 5% Stake in General Insurance Corporation
The Indian government will sell up to a 5% stake in General Insurance Corporation (GIC) through an offer‑for‑sale, starting June 16 for non‑retail investors and June 17 for retail participants. The base tranche is 2% at a floor price of ₹352 per...
FPI Exodus Continues, ₹62,800 Cr Pulled Out From Equities in First Fortnight of June
Foreign portfolio investors pulled roughly $7.6 billion (₹62,853 crore) from Indian equities in the first half of June, pushing total 2026 outflows to about $34.6 billion (₹2.87 lakh crore). The sell‑off follows a record $14.1 billion withdrawal in March and continued pressure from a 6% rupee...
Long-Awaited NSE IPO Set to Advance as Draft Papers Likely Next Week
India’s National Stock Exchange (NSE) is poised to file its draft red‑herring prospectus with SEBI on June 15‑16, moving the long‑delayed IPO forward. The offering will be an offer‑for‑sale of existing shares, with no fresh issuance, and the exchange is valued...
Buzzing Stocks: Sagility, BHEL, Cipla, PCBL, NLC India, BCPL Railway, Gujarat Inject, Lancor, Astral, Alembic, Prestige, Sattrix, DSM Fresh
Sagility announced a $30 million acquisition of US healthcare‑analytics firm CareSeed, while Bharat Heavy Electricals secured a ₹90 crore (~$11 million) order for an 800 MW super‑critical power plant. NLC India signed an MoU with CSIR‑CECRI to develop critical‑mineral technologies, and PCBL commissioned a...
India Considers Canada as Potential Crude Oil Supplier, Envoy Says
India is evaluating Canada as a new source of crude oil, with High Commissioner Dinesh Patnaik noting that India’s newer refineries can handle the heavier grades typical of Canadian production. Regular bilateral talks are under way to expand energy‑sourcing opportunities...
Banks Can Lend only to SEBI-Registered and Listed REITs, InvITs: RBI Guidelines
The Reserve Bank of India issued final guidelines restricting bank loans to Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) to those that are SEBI‑registered, listed, and meet strict cash‑flow criteria. At least 80% of a trust’s assets...
Bombay HC Raises Questions over SEBI’s ODR Mechanism in Complex Securities Disputes
The Bombay High Court has scrutinized the Securities and Exchange Board of India's (SEBI) Online Dispute Resolution (ODR) mechanism, deeming it unsuitable for complex securities disputes involving fraud allegations. Justice Somasekhar Sundaresan set aside an August 2024 arbitral award that...
Indian Steelmakers Enter Major Capex Cycle as Capacity Expansion Hits 300 Million Tonnes Target
Indian steelmakers are launching a multi‑year capital‑intensive expansion, boosting FY27 capex by 40% to Rs 70,000 crore (about $8.4 billion). The industry aims to lift total steel‑making capacity from 220 million tonnes to 300 million tonnes by 2030, driven by robust domestic demand and protective...
SEBI Reviews Broker Net-Worth Norms, Weighs IPO Auction Reforms
The Securities and Exchange Board of India (SEBI) is overhauling broker capital requirements, moving to variable net‑worth rules that reflect a firm’s scale and risk profile. It is also revisiting the pre‑open call‑auction mechanism for IPOs and relisted securities to...
Impact of India’s Revised Edible Oil Packaging Order Could Be Far Wider: SEA
India’s Department of Consumer Affairs has revised the standard operating procedure for edible‑oil packaging, mandating uniform pack sizes from 500 ml up to 20 litre/20 kg for major oils and requiring volume labels to include weight equivalents. The move, praised by the Solvent...
JM Financial MF Plans Shift to Interest Income Strategy for Bonds, Exec Says
JM Financial Mutual Fund, managing roughly $303 million of debt assets, will pivot toward an interest‑income strategy on bonds while trimming duration risk. The move anticipates the Reserve Bank of India beginning a series of 25‑basis‑point rate hikes as early as...
EGR Launch Unrelated to PM Modi’s Call to Avoid Gold Buying, Product Planned Months Ago: NSE’s Sriram Krishnan
The National Stock Exchange launched its Electronic Gold Receipts (EGR) platform on May 4, a product conceived months before Prime Minister Narendra Modi’s call to curb gold purchases. NSE’s Sriram Krishnan emphasized that the launch is independent of the political appeal,...
Foreign Investors Pivot to Short Govt Bonds Ahead of Policy Turn
Foreign investors have shifted toward short‑term Indian government bonds, with those under five years accounting for more than two‑thirds of the top ten purchases in March‑May, up from under half in Jan‑Feb. After a record sale of ₹17,700 crore (≈$2.1 billion) in...
Right Horizons Launches AIF Targeting ₹200 Crore
Right Horizons Portfolio Management launched the RH Rising India Opportunities AIF, a closed‑ended Category III fund targeting ₹200 crore ($24 million) with a greenshoe option for an additional ₹100 crore. The fund, open to resident Indians, NRIs, HNIs, corporates and institutions, requires a minimum...
RBI’s Intervention Contains Rupee's Fall, Shrinks Dollar-Rupee Forward Premiums
India’s central bank stepped in on June 2, selling dollars and using FX swaps to curb a further slide in the rupee, which closed at 95.2650 per dollar, down 0.3% from the prior close. The interventions also trimmed the 1‑year forward...
Silver Climbs 2% to ₹2.71 Lakh/Kg in Futures Trade Amid Strong Global Cues
Silver futures on India’s Multi Commodity Exchange jumped 1.9% to ₹2.71 lakh per kilogram (about $3,300) as global markets rallied. The rise mirrored a near‑3% gain in COMEX July contracts, which reached $77.21 per ounce. Traders cited renewed Middle‑East cease‑fire talks...
GenXAI Analytics to Raise ₹55 Cr via IPO on NSE Emerge
GenXAI Analytics announced a ₹55 crore (~$6.7 million) IPO on NSE Emerge, offering 4.728 million equity shares at a price band of ₹110‑₹116 per share (approximately $1.35‑$1.42). The lot size is fixed at 1,200 shares. Net proceeds will fund new product development, repay borrowings,...
Augmont Launches India’s First AI-Powered Gold Purity Evaluation Machine in Suburban Chennai
Augmont has installed India’s first AI‑powered gold purity evaluation machine at its Poonamallee branch in suburban Chennai. The robotic system instantly assesses the karat level of ornaments, delivering transparent, non‑invasive results. Integrated with Augmont’s gold‑loan platform, the evaluation can trigger...
Taiwan Stock Exchange Plans Longer Trading Hours, Odd-Lot Reform
The Taiwan Stock Exchange (TWSE) announced plans to extend its regular trading session and reform its odd‑lot trading system, which serves retail investors trading less than a standard lot. The exchange aims to start odd‑lot trading at 9 a.m., shorten the...
PIDG to Launch Fund in India in Second Half of 2026
London‑based Private Infrastructure Development Group (PIDG) announced it will launch a dedicated fund in the second half of 2026 to finance healthcare and agriculture projects in India. The group is also mobilising $500 million of equity for Indian green projects over...
HDFC Bank Falls on Report of Payments to Attract Big Deposits
HDFC Bank’s shares slipped nearly 2% after the Indian Express reported the lender paid roughly $4.7 million to Maharashtra’s Road Development Corporation to secure large deposits. The payments were allegedly masked as marketing expenses, with CEO Sashidhar Jagdishan aware of the...
Pushp Brand Files IPO Papers with SEBI
Indore‑based Pushp Brand (India) Ltd has filed a draft red‑herring prospectus with SEBI to launch an offer‑for‑sale IPO targeting ₹800‑1,000 crore (approximately $98‑$122 million). The sale will involve up to 7.445 million equity shares from promoters Mahendra Kumar Surana and Surendra Kumar Surana,...
Stock Markets Trade Lower Amid Volatile Trends
Indian benchmark indices slipped after an early rally, with the BSE Sensex down 77.80 points to 75,935 and the NSE Nifty falling 29.15 points to 23,898. The decline followed fresh U.S. military strikes in southern Iran, reviving energy‑supply worries and...
Gold ETF Investors Press the Exit Button Again After a Week
Gold exchange‑traded funds saw a second week of net outflows, with U.S. investors pulling $635 million and Chinese investors exiting $623 million. Weekly outflows totalled $2.17 billion versus $1.09 billion in inflows, pushing year‑to‑date holdings down to $18.46 billion. The retreat follows gold’s price slipping...
Bond Investors Tap Soaring Swap Rates to Juice Returns
Indian debt fund managers are tapping soaring swap rates to boost returns by buying floating‑rate corporate bonds and using overnight index swaps to create synthetic fixed‑rate exposure. The three‑year OIS hit its highest level since 2023, with markets pricing in...
Buzzing Stocks: Anupam Rasayan, Bliss GVS, Oil India, NBCC, RVNL, Lupin, Aurobindo Pharma, Goodluck, PNC Infra, Sterlite Tech, CBI and...
Anupam Rasayan India announced a deal to acquire up to 74.2% of Bliss GVS Pharma for roughly $164 million, funded by a $36 million term loan and equity instruments. The Central Bank of India’s 8% stake OFS was oversubscribed, pulling in about...
Gold Offered at ₹450/G Discount to Indian Consumers After Import Duty Hike
India raised gold customs duty to 15% from 6% on May 13, creating a domestic discount of over ₹450 per gram (≈$5.4) versus landed prices. Dealers are off‑loading inventory imported at the lower duty, pushing Mumbai spot prices to about ₹158,500...
Global Crude Steel Output Falls 1.9% in April
Global crude steel production slipped 1.9% year‑on‑year in April, marking the fourth consecutive month of decline. China, the sector’s largest producer, cut output by 2.8% as its property and construction markets stay weak. In contrast, India boosted production 3.9% to...
NCDEX Launches Derivative on Mumbai Monsoon
The National Commodity & Derivatives Exchange (NCDEX) has launched RAINMUMBAI, a pilot futures contract tied to Mumbai’s monsoon rainfall, marking the world’s first monsoon‑based derivative. Four monthly contracts start trading on May 29, each lot linked to ₹50 (≈$0.60) per millimetre...
SMR Jewels ₹67 Crore IPO Opens May 26; Price Band Set at ₹128–₹135 per Share
SMR Jewels Ltd, an Ahmedabad‑based gold jewellery designer, announced a ₹67.23 crore (~$8.1 M) IPO on the BSE‑SME platform opening May 26, with a price band of ₹128‑₹135 per share. The issue comprises a fresh issue of ₹54 crore (~$6.5 M) and an offer‑for‑sale of...
Aditya Birla Capital to Raise ₹4,000 Crore via Preferential Issue
Aditya Birla Capital (ABCL) announced a ₹4,000 crore (≈$480 million) preferential issue to raise fresh capital. The issue will be subscribed by its parent Grasim Industries for ₹2,880 crore, Singapore‑based Suryaja Investment for ₹200 crore, and the International Finance Corporation for ₹920 crore, at ₹356 per share....
India Bonds Poised for Muted Opening Moves as Oil, Treasury Yields Still High
Indian government bonds are set for a flat start on Tuesday as both oil prices and U.S. Treasury yields remain elevated. The benchmark 6.48% 2035 bond is expected to trade between 7.10% and 7.15%, barely moving from Monday's 7.1313% close....
Gift Nifty Signals Weak Start as Middle East Tensions Rattle Global Market
Indian equities are set for a weak start as the Gift Nifty 23,540 points signaled a gap‑down opening of about 120 points, reflecting heightened geopolitical risk from the US‑Iran conflict. Crude oil prices remain in the $105‑110 per barrel range,...
Muthoot FinCorp May Dilute at Least 10% Stake in Proposed IPO
Muthoot FinCorp, India’s leading gold‑loan NBFC, plans to raise up to Rs 4,000 crore (≈$480 million) in a fresh‑issue IPO. The board approved a minimum 10% dilution of the family’s stake, with the final percentage tied to valuation. Proceeds will fund accelerated growth...
Hindustan Zinc Aims to Unlock ₹2,000 Cr in Value Through AI Push
Hindustan Zinc Ltd, part of Vedanta, announced at Zinnovation 2026 that it will pursue an AI‑led transformation worth about ₹2,000 crore (roughly $240 million). The initiative, run with V‑Spark DeepTech Ventures, targets productivity, cost, asset reliability, energy efficiency, safety, recoveries and faster decision‑making...
Russian Oil Exports to India Have Surged, Says Sergey Lavrov
Russian Foreign Minister Sergey Lavrov confirmed that crude‑oil exports to India have surged, underscoring a deepening energy partnership that sidesteps Western sanctions. India continues to buy discounted Russian oil to fuel its fast‑growing economy, while Moscow praises the trade as...
Fujiyama Power Systems Posts 87.5% Revenue Jump, Commissions 2,000 MW Ratlam Solar Plant
Fujiyama Power Systems posted an 87.5% year‑on‑year revenue surge to ₹900.8 crore (≈$108 million) in Q4 FY26 and announced the commissioning of a 2,000 MW solar‑panel plant in Ratlam, Madhya Pradesh. EBITDA rose 116.9% to ₹171.5 crore (≈$20.7 million) and profit after tax more than doubled...
Crude Oil Futures Decline as Markets Track West Asia Ceasefire, Trump’s China Visit
Crude oil futures slipped on Wednesday as Brent fell to $106.59 and WTI to $101.06, reflecting market reactions to a tentative West‑Asia ceasefire and President Donald Trump’s upcoming China visit. Indian‑rupee‑denominated contracts also retreated, with May crude at roughly $118...
Investors to Sell ₹4,750 Crore Stake in Billionbrains Garage Ventures in Block Deal
Early investors in Billionbrains Garage Ventures, the parent of Groww, are selling a 4.3% stake worth roughly ₹4,750 crore ($498 million) in a block deal. The transaction will involve up to 26.84 crore shares at a floor price of ₹177 per share, an...
After Indian PM’s Appeal to Cut Fertilizer Use, Govt Says It Has Ample Stocks
The Indian government announced that fertilizer stocks are sufficient for the Kharif 2026 season, covering more than 51% of the estimated 390.54 lt demand, well above the typical 33% buffer. Sales of the four key fertilizers rose 25% in April to...
No Plan to Raise Duties on Gold, Silver Imports: Indian Govt Official
India’s government confirmed that import duties on gold and silver will remain at 6%, rejecting speculation of a hike despite soaring import bills and shrinking foreign‑exchange reserves. Prime Minister Narendra Modi has asked citizens to refrain from buying gold for...
Broker’s Call: Hyundai Motor India (Hold)
Hyundai Motor India posted Q4 FY26 revenue up 5.4% year‑on‑year but fell short of estimates, while EBITDA dropped 22.4% and profit after tax declined 22.2% as average selling prices slipped toward lower‑priced models. Management projects 8‑10% domestic volume growth in...
No PANs Issued to FPIs for a Month, Onboarding Hit
Foreign portfolio investors (FPIs) in India have been unable to receive Permanent Account Numbers (PAN) for nearly a month after the Income Tax Department altered the PAN application process within the Common Application Form (CAF). At least 20 newly registered...
Markets Have Already 'Factored In' Lower GDP Growth, Higher Inflation Projections Amid Oil Shock: Analyst
Indian markets have already priced in the twin pressures of a slower GDP growth forecast—down to 6.6% from 7.1%—and higher inflation expectations of about 5.1%, driven by an ongoing oil shock and geopolitical tension in West Asia. Analyst Kunal Saraogi told...
India's Market Underperformance Driven by 'AI Exposure Gap', Not Domestic Weakness: Motilal Oswal Report
Motilal Oswal's May 2026 Eagle Eye report says India’s equity underperformance stems from a structural gap in AI‑hardware exposure rather than domestic economic weakness. While South Korea (+53% USD YTD) and Taiwan (+33%) surged on the global AI rally, the Nifty fell 13% in...
Global Gold ETF Demand Rebounds $6.6 Billion in April; India Extends Inflow Streak to 11 Months: World Gold Council
Global gold ETFs rebounded in April, attracting $6.6 billion of inflows and lifting total assets under management to $615 billion, a 1 % month‑on‑month rise. India recorded $297 million of inflows for the 11th consecutive month, while Europe led the regional recovery with $3.7 billion,...
Sensex Today | Stock Market Live Updates: Sensex Falls Nearly 500 Points as US-Iran Tensions Hit Market Sentiment
On May 8 2026 India’s Sensex slipped 498 points (‑0.64%) to 77,345 as escalating US‑Iran tensions near the Strait of Hormuz rattled market sentiment. The drop was amplified by heavy foreign institutional outflows of roughly ₹68,870 cr (about $8.3 bn), the lowest FII ownership...
Crude Oil Production Growth Prospects in 2027 Bright, Say Analysts
Analysts at BMI, a Fitch Solutions unit, see a bullish outlook for crude oil production in 2027 despite short‑term supply constraints from the Iran conflict. They cite a favorable 2026 base effect, the potential unwinding of OPEC‑plus cuts totalling up...