Markets closed slightly above Friday’s closing point.
Nifty 50 rose throughout the day and closed flat. The rise may have been due to rise in IT stocks.
IT stocks and media stocks rose the most today. FMCG stocks and cements stocks fell the most.
Global markets: US markets rose on Friday. Most Asian and European markets fell due to escalating US-Iran tensions. (as of 6 pm IST).
News
India’s annual inflation rate rose to 4.38% year-on-year in June (vs 3.93% in May).
India’s merchandise exports rose 15.5% year-on-year to $40.41 billion in June while imports grew 31% to $70.84 billion. The merchandise trade deficit widened to $30.43 billion.
Zetwerk has received SEBI’s approval for its IPO.
Laser Power and Infra IPO has been subscribed 38.94 times. Retail subscription: 6.59 times. IPO is closed for subscription.
Stocks Updates
SBI: raised $200 million through senior unsecured floating-rate Reg-S notes to be issued via its London branch and listed on India INX, GIFT City.
TCS: signed a multi-million, multi-year deal with ABB to transform the company’s global network operations using AI, automation, and advanced analytics.
NTPC: board approved an investment of Rs 20,456.7 crore for the Lara Super Thermal Power Project Stage-III (2x800 MW).
HCL Tech: net profit rose 20.32% year-on-year to Rs 4,624 crore in the Apr-Jun quarter. Interim dividend announced: Rs 12 per share. Record date: 17 July.
BEL: received additional orders worth Rs 572 crore since its last disclosure, including communication equipment, avionics, encryptors, tank sub-systems, etc.
Avenue Supermarts (DMart): net profit rose 11.34% year-on-year to Rs 860.61 crore in the Apr-Jun quarter.
ICICI Pru AMC: net profit rose 23.10% year-on-year to Rs 964.63 crore in the Apr-Jun quarter.
Tata Capital: approved the acquisition of an 88.6% stake in Yogakshemam Loans Ltd (Yogloans), marking its entry into the gold loan business.
Power Finance: subsidiary PFC Consulting Ltd incorporated Satara Power Transmission Ltd as an SPV for the Satara pumped storage transmission project.
LTI Mindtree: net profit rose 16.92% year-on-year to Rs 1,466.30 crore in the Apr-Jun quarter.
Jindal Steel: CEO, Gautam Malhotra has resigned and will step down effective from the close of business on 15 July 2026.
Mankind Pharma: approved the sale of its wholly owned subsidiary Broadway Hospitality Services Pvt Ltd. It also approved the incorporation of a wholly owned subsidiary in the Netherlands, which will act as an SPV to hold R&D assets and business development investments in niche therapies.
Mazagon Dock: announced the commissioning of INS Mahendragiri into the Indian Navy. INS Mahendragiri is the seventh and final stealth frigate under Project 17A.
Word of the Day
Back Channel Diplomacy
These are communications between two countries that happen via a 3rd party country.
When two countries are not on good terms with each other, they tend to communicate via back channels.
These back channels are most often other 3rd party countries that are more neutral in nature and often somewhat friendly to both sides.
In times of conflict, these back channels gain importance as conflicting nations like to portray to the world that they are not in communication with each other.
6 Day Course
Theme: companies with extra cash
Day 1:Monday
Successful companies make profits. Which means, they are left with extra cash after having paid all their bills, taxes, salaries, debt, etc.
Every company handles this extra cash differently.
In this week’s course, we will try to understand how companies manage and handle extra cash they have earned.
Dividend:
We have heard of companies giving dividends after earning profits. Dividends are given to shareholders as a part of profit-sharing.
Often when companies are unable to allocate this money to other operations or have no use for the money, they return it to shareholders via dividends.
If a company makes an exceptionally high profit that is not likely to repeat, the company may give an even higher dividend called a special dividend.
In such a case, they try to communicate that that high a dividend is not to be expected again.
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We explored the question “What if you bought IT stocks whenever the rupee fell?”
Check out the full report here.
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