Published on: July 2, 2025
Maruti Suzuki India Ltd. reported a 6% year-on-year decline in total vehicle sales for June, down to 1.68 lakh units from 1.79 lakh units a year ago. Domestic sales dropped 12% to 1.3 lakh units, driven by a sharp 37% fall in mini-segment cars like Alto and S-Presso, and a 17% drop in the compact segment, which includes models like Swift, Baleno, and WagonR.
However, sales of the mid-sized sedan Ciaz nearly doubled to 1,028 units, and utility vehicles such as the Grand Vitara and Brezza, despite an 8% decline, continued to contribute significantly to overall volumes.
Despite the mixed sales performance, Maruti Suzuki's shares gained up to 0.66% to Rs 12,524 before settling slightly higher at Rs 12,456 apiece by 10:12 a.m. on Wednesday. This outpaced the broader NSE Nifty 50, which was up 0.05% at the time.
The stock has risen 3.42% over the past year and 14.69% year-to-date. According to Bloomberg data, 37 out of 46 analysts tracking the stock maintain a ‘buy’ rating, with a 12-month average price target implying an 8.6% upside—indicating continued confidence in the company's long-term prospects despite near-term sales softness.
Published on: July 1, 2025
Shares of Reliance Industries Ltd (RIL) rose nearly 2% to Rs 1,529 on Wednesday after the company launched its first 1GW heterojunction (HJT) solar module manufacturing line, with plans to scale to a fully integrated 10GW capacity by early 2026. Domestic brokerage Nuvama Institutional Equities responded by raising its target price to Rs 1,801—the highest on the Street—while reiterating a 'Buy' rating.
The brokerage emphasized that RIL’s foray into the solar space could trigger a valuation re-rating similar to what occurred post-Jio’s launch in 2017. Nuvama projects the solar business alone could contribute Rs 3,800 crore to net profit at full capacity, around 6% of FY25 estimated PAT.
RIL is also advancing plans for a 30GWh battery facility and green hydrogen production, with a technology tie-up with Nel ASA for electrolyser manufacturing. At its 2024 AGM, the company forecasted that New Energy profits could match its core Oil-to-Chemicals (O2C) business within 5–7 years. Currently, O2C remains RIL’s largest profit contributor, accounting for over 50% of PAT.
With its integrated clean energy ambitions and net-zero goals by 2035, RIL is positioning itself as a major player in India’s energy transition, drawing strong investor optimism.
Published on: July 1, 2025
TVS Motor Company reported a strong 20% year-on-year growth in total sales for June 2025, reaching 4,02,001 units compared to 3,33,646 units in June 2024. The growth was driven by robust performance across all segments.
Two-wheeler sales rose 20% to 3,85,698 units from 3,22,168 units a year earlier. Within this, domestic two-wheeler sales grew 10%, reaching 2,81,012 units from 2,55,734 units in June 2024.
The company’s three-wheeler segment also recorded impressive growth, up 42% year-on-year to 16,303 units. Meanwhile, total exports saw a significant 54% jump, increasing to 1,17,145 units in June from 76,074 units in the same month last year.
The solid performance underscores TVS Motor’s continued market strength both in India and overseas, with export momentum contributing significantly to overall growth.
Published on: July 1, 2025
Indian equity benchmarks started Tuesday’s trade on a muted yet positive note, despite record highs in the US markets overnight. The Nifty50 rose over 43 points (0.17%) to open at 25,560, while the BSE Sensex gained 158 points (0.19%) to 83,764.18. Broader markets followed suit, with the Nifty Midcap 100 index up 0.23%. Bank Nifty also edged up by 0.13% to 57,387.15.
Early gainers on the Nifty50 included Apollo Hospitals, Asian Paints, Bharat Electronics, IndusInd Bank, and Bharti Airtel. On the flip side, Axis Bank, Trent, Tata Steel, Cipla, and Shriram Finance were among the top losers.
Sectoral performance was mixed — oil & gas, IT, and realty led the gains, while PSU Banks, metals, pharma, and financial services lagged. Investors remained cautious ahead of India and China’s final manufacturing PMI readings for June, and a closely watched speech by US Fed Chair Jerome Powell at the ECB Forum in Portugal.
Stocks to watch include:
CG Power: Shares may gain on fundraising plans via QIP.
Bank of India: Lending rate revision effective July 1 may impact borrowers.
Raymond Realty: Begins trading post-demerger from Raymond Ltd.
HCL Technologies: Potential for bargain buying amid sectoral weakness.
Technical Outlook:
Zee Business’s Anil Singhvi sees Nifty support at 25,325–25,425, with a strong buy zone between 25,125–25,265. For Bank Nifty, key support lies at 56,850–57,050, with a buying opportunity at 56,550–56,675.
Asian Markets:
Most Asian indices traded higher, with South Korea leading gains. However, Japan’s Nikkei slipped over 1% following renewed US tariff threats. Wall Street futures also showed mild gains in early Asian trade after the S&P 500 and Nasdaq hit new record highs.
Published on: June 30, 2025
Adani Green Energy Ltd (AGEL) announced on Monday that it has surpassed a major milestone, reaching an operational renewable energy capacity of 15.53 GW, making it one of India’s largest clean energy producers. The portfolio includes 11,005.5 MW of solar, 1,977.8 MW of wind, and 2,556.6 MW of wind-solar hybrid capacity.
According to the company, this operational base is sufficient to power approximately 7.9 million households, contributing significantly to India's renewable energy transition.
AGEL CEO Ashish Khanna reaffirmed the company’s commitment to sustainability, stating, “We aim to accelerate even faster from 15,000 MW to 50,000 MW by 2030, remaining steadfast in our mission to power India and the world with sustainable energy solutions.”
The achievement underscores Adani Green's expanding role in India's ambitious renewable energy roadmap and positions it strongly in the global clean energy space.
Published on: June 30, 2025
The Indian rupee opened flat on Monday, inching up by 1 paise to 85.48 against the US dollar, as global cues including a softer dollar index, lower oil prices, and firm Asian currencies kept movement subdued. This follows the rupee’s strongest weekly performance since January 2023, aided largely by a sharp decline in crude oil prices due to Iran-Israel tensions.
Despite its recent bounce, the rupee remains one of the weakest-performing Asian currencies in June, with only a 0.14% appreciation so far. On Friday, the currency briefly rose to 86.4750 following the completion of HDB Financial Services’ heavily subscribed IPO. However, potential outflows linked to JSW Paints’ acquisition of Akzo Nobel India and HDB’s IPO allotment process may create short-term pressure, noted Anil Kumar Bhansali of Finrex Treasury Advisors.
Investor focus is also on the evolving India–US trade talks, as US President Donald Trump hinted at a “very big” deal nearing finalization. Indian negotiators have reportedly extended their stay in Washington to complete the deal before the July 9 tariff deadline, according to Bloomberg.
On the macroeconomic front, India posted a current account surplus of $13.5 billion (1.3% of GDP) in Q4 of FY25, up from $4.6 billion a year earlier and reversing a deficit of $11.3 billion in the December quarter. Analysts caution, however, that the current account may swing back to a 1.2% deficit in the next fiscal year, particularly if US tariff risks materialize.
In commodities, oil prices remained under pressure. Brent crude slipped 0.30% to $67.57 a barrel, while WTI crude edged up 0.43% to $65.24 as of 9:15 AM IST. The market remains cautious ahead of a possible OPEC+ supply hike.
Traders are advised to monitor the 86.00 level closely for export activity, while importers may look to buy on dips, given the uncertainty surrounding trade flows and geopolitical developments.
Published on: June 30, 2025
Indian equity benchmarks Nifty 50 and BSE Sensex moved in a narrow range for most of the session, ultimately extending their weekly losing streak for a second consecutive week. The Indian rupee also closed weaker against the US dollar, reflecting broader market caution.
In stock-specific action, Tata Steel came under pressure after announcing it had received a show-cause-cum-demand notice from tax authorities over alleged wrongful utilization of input tax credit exceeding ₹1,000 crore between FY19 and FY23.
Waaree Energies gained traction after its U.S. subsidiary secured a significant 540 MW solar module supply order from a U.S.-based utility-scale solar developer, boosting its global growth outlook.
Mazagon Dock Shipbuilders saw positive sentiment following its board's approval to acquire a majority stake in Sri Lanka-listed Colombo Dockyard PLC for approximately ₹452 crore, enhancing its regional shipbuilding footprint.
In a major pharma deal, Torrent Pharmaceuticals announced the acquisition of a 46.39% controlling stake in JB Chemicals and Pharmaceuticals from global investment firm KKR, consolidating its market position.
IRCTC is in focus as PGIMER considers handing over hospital canteen management to the railway PSU, potentially opening a new revenue stream for the company.
BHEL received a substantial order from Adani Power for supplying equipment and supervising operations for six 800 MW thermal power units, supporting its order book and growth visibility.
Meanwhile, Hindustan Aeronautics Ltd (HAL) proposed a final dividend of ₹15 per share for FY25, signaling strong financial performance and government support for the defence PSU.
Additionally, SEBI is reportedly exploring internal promotions for its Executive Director appointments, indicating a shift in regulatory staffing policies.
As the new week begins, investors remain cautious amid muted indices, global uncertainties, and stock-specific developments shaping near-term market sentiment.
Published on: June 30, 2025
Telecom sector stocks such as Bharti Airtel, Reliance Industries, and Vodafone Idea are expected to be in the spotlight this week following the release of mobile subscription data for May 2025 by the Telecom Regulatory Authority of India (TRAI). The report highlighted contrasting performance among major players.
Reliance Jio emerged as the top gainer, adding 27 lakh subscribers in May—a 0.57% month-on-month increase—bolstering its leadership position in the market. The gains are attributed to its strong rural penetration, strategic bundling offers, and aggressive 5G rollout. This may positively influence investor sentiment around parent company Reliance Industries ahead of its June quarter earnings.
Bharti Airtel posted a modest addition of 2.75 lakh users, representing a 0.07% increase. With the stock ending June 27 at ₹2,020, up 0.28%, market participants will watch for further movement as the company’s focus on high-ARPU (average revenue per user) segments continues to attract premium subscribers.
Conversely, Vodafone Idea lost 2.74 lakh users in May, marking a 0.1% drop. The company’s persistent subscriber decline underscores ongoing struggles with funding constraints and operational inefficiencies. State-run MTNL fared even worse, losing 4.71 lakh subscribers—almost six times more than its previous month’s loss—highlighting its structural challenges.
Despite the divergent trends, the overall telecom sector added 21 lakh mobile subscribers in May, a 7.7% jump over April, with Reliance Jio and Airtel accounting for the lion’s share of new user growth.
Published on: June 30, 2025
In response to intensifying competition from private and small finance banks, the Union finance ministry has instructed public sector banks (PSBs) to proactively identify high-potential areas and expand their physical branch network. According to a senior government official, PSBs have been asked to keep pace with the aggressive expansion strategies adopted by their private counterparts.
As of December 31, 2024, in the financial year 2024–25 (FY25), PSBs collectively opened 1,391 new branches across India. This includes 271 branches in metropolitan areas, 311 in urban locations, 539 in semi-urban regions, and 270 in rural areas.
The move signals the government’s intent to maintain the relevance and accessibility of PSBs in an increasingly competitive banking landscape, while also supporting financial inclusion across diverse geographies.
Published on: June 30, 2025
Amitabh Chaudhry, Managing Director and CEO of Axis Bank, expressed strong confidence in India's economic trajectory, stating that the country’s growth remains resilient despite global headwinds. In an interview with The Economic Times, Chaudhry emphasized that upcoming rate cuts are likely to boost credit demand, further supporting the economy's momentum.
He dismissed concerns over the entry of well-capitalised Japanese banks into the Indian market, calling it a sign of global confidence in India rather than a threat. According to Chaudhry, India will continue to see the rise of new entrepreneurs, even as some members of the younger generation gravitate toward investment roles.
Addressing current challenges, Chaudhry noted that Axis Bank is actively working to improve its deposit base and strengthen its strategic growth initiatives. The bank is also open to exploring opportunities in the microfinance space to expand its market presence.
Geopolitical tensions, he added, are unlikely to derail India’s growth story, which remains robust and well-positioned for the future.
Published on: June 30, 2025
Indian equity benchmarks ended lower on Monday, snapping a four-day winning streak amid broad-based profit booking, particularly in heavyweight stocks. The BSE Sensex declined 452.44 points or 0.54% to close at 83,600.43, while the Nifty50 slipped 120.75 points or 0.47% to settle at 25,517.05.
Pressure was seen in key index constituents such as Maruti Suzuki, Axis Bank, Kotak Mahindra Bank, UltraTech Cement, NTPC, Reliance Industries, and Asian Paints. However, the decline was partially offset by gains in stocks like Trent, SBI, Bharat Electronics (BEL), Zomato (Eternal), and Tech Mahindra.
Broader markets outperformed, with the Nifty MidCap index rising 0.16% and the Nifty SmallCap index advancing 0.35%, underscoring continued investor interest in mid- and small-cap segments. Meanwhile, the India VIX jumped 3.21%, reflecting increased market volatility.
Among sectoral indices, PSU banks stood out with a strong 2.66% gain, led by SBI and Shriram Finance. Financial services and media sectors also ended in the green. On the downside, FMCG, private banking, real estate, auto, and metals sectors saw notable weakness.
Top gainers on the Nifty included SBI, Trent, Shriram Finance, IndusInd Bank, and BEL, while Maruti Suzuki, Axis Bank, UltraTech Cement, and Kotak Mahindra Bank were among the top losers. Going forward, investor attention will likely shift toward global market cues, upcoming macroeconomic data, and corporate earnings announcements for further market direction.
Published on: June 27, 2025
SIVASAGAR, ASSAM | June 27 — After 16 days of continuous gas leakage, the Oil and Natural Gas Corporation (ONGC) has successfully capped the blowout at its RDS#147A crude oil well in Sivasagar district, Union Minister Hardeep Singh Puri confirmed on Friday.
The incident began on June 12, leading to an uncontrolled gas leak that posed potential safety and environmental risks. However, ONGC managed to contain the blowout by 11:15 AM on June 27 without any injuries, casualties, or fire, according to Puri’s statement on social media platform X (formerly Twitter).
Puri praised ONGC’s swift and safe response, stating that the operation adhered to global best practices and safety protocols. The successful capping highlights ONGC’s technical capability in handling complex emergency situations in energy extraction operations.
This development has brought relief to local authorities and residents concerned about environmental and safety hazards from the prolonged leak. ONGC is expected to assess the well site and initiate restoration procedures in the coming days.
Published on: June 27, 2025
Mumbai, June 28 — Indian equity markets extended their winning streak for a fourth consecutive session on Friday, buoyed by positive global cues and hopes of a relaxation in U.S. tariff deadlines. The BSE Sensex climbed 287.20 points (0.34%) to close at 84,043.06, while the Nifty 50 rose 82.05 points (0.32%) to settle at 25,631.05.
The uptrend was broad-based, with heavyweights like Asian Paints, Power Grid, Reliance Industries, UltraTech Cement, Adani Ports, and Larsen & Toubro driving the benchmarks higher. On the flip side, financials and consumer discretionary stocks, including HDFC Bank, Bajaj Finance, Kotak Mahindra Bank, Titan, and Bajaj Finserv, witnessed selling pressure.
Broader markets outperformed, with the BSE Midcap and Smallcap indices gaining around 0.5%, while the Nifty Midcap rose 0.58% and the Smallcap index surged 0.95%, reflecting strong investor interest in mid- and small-cap segments.
On the sectoral front, Nifty Oil & Gas led the rally, gaining over 1%, followed by PSU Banks, Capital Goods, Media, Power, Healthcare, and Telecom, which rose between 0.5% and 1%. However, IT and Realty sectors closed in the red, hit by profit-booking and ongoing global uncertainty.
Top gainers among individual stocks included Jio Financial, IndusInd Bank, Adani Enterprises, Asian Paints, and Apollo Hospitals, supported by sectoral strength and positive investor sentiment.
The continued rally reflects growing market confidence, driven by macroeconomic tailwinds and easing global trade concerns. However, pockets of caution remain, especially in IT and Realty, as investors await clearer signals from the global front.
Published on: June 27, 2025
The highly anticipated ₹12,500 crore initial public offering (IPO) of HDB Financial Services, a subsidiary of HDFC Bank, is scheduled to close on June 27, 2025. Marking the largest IPO by a non-banking financial company (NBFC) in India, the offer includes a fresh issue of ₹2,500 crore and an offer-for-sale (OFS) worth ₹10,000 crore by parent HDFC Bank, which currently holds a 94.3% stake in the company.
The IPO price band has been set at ₹700 to ₹740 per equity share with a face value of ₹10 each. According to grey market data, the grey market premium (GMP) stands at ₹53, suggesting an estimated listing gain of 7.16%. Shares are expected to be listed on the BSE and NSE on July 2, with allotments likely to be announced on June 30.
The company has stated that the net proceeds from the fresh issue will be used to enhance its Tier I Capital base, helping to meet future capital requirements, especially for lending expansion during FY25 and FY26.
Despite a 26% year-on-year drop in net profit for Q3 FY25—due to increased provisions linked to a rise in stage 3 assets—HDB Financial’s loan portfolio rose by 22% year-on-year to reach ₹1.02 lakh crore. Its net interest margin stood at 7.5% for the quarter.
HDB Financial serves 18.4 million clients through 1,792 branches across 1,168 cities and towns, adding 0.9 million customers and 20 new branches in Q3. Disbursement growth was driven by asset and consumer finance segments, increasing 3.7% quarter-on-quarter.
The IPO is managed by a consortium of 12 leading investment banks, including JM Financial, BNP Paribas, Morgan Stanley, Goldman Sachs, Nomura, and UBS, under a book-building process.
Published on: June 27, 2025
Mumbai, June 28 — The legal battle between HDFC Bank CEO & MD Sashidhar Jagdishan and the Lilavati Kirtilal Mehta Medical Trust has hit a procedural roadblock as three Bombay High Court judges recused themselves from hearing Jagdishan’s plea to quash an FIR filed against him.
The case, linked to allegations of bribery, cheating, and breach of trust, has faced multiple judicial recusals. According to reports, judges cited potential conflicts of interest, including past associations with the Trust or ownership of HDFC Bank shares, as reasons for stepping aside. One judge voluntarily disclosed holding shares in HDFC Bank, prompting further recusals.
The case was originally listed on June 18 and has since been transferred between multiple benches, including those of Justices AS Gadkari, Rajesh Patil, Sarang Kotwal, MS Sonak, and Jitendra Jain. With as many as six more judges reportedly unwilling to hear the matter, the plea is now expected to be taken up on June 30 by a division bench of Justices Ravindra Ghuge and Milind Sathaye, as per court roster reports.
At the core of the dispute is an FIR lodged by the Lilavati Trust, accusing Jagdishan of accepting a ₹2.05 crore bribe from former Trustee Chetan Mehta in exchange for financial advice and assistance in retaining control over the Trust’s affairs. The Trust also alleges that Jagdishan misused his position as HDFC Bank’s CEO to meddle in its governance.
The FIR was registered at Bandra police station following a magistrate’s order under Section 175(3) of the Bharatiya Nagarik Suraksha Sanhita (BNSS). Meanwhile, the Trust has filed a separate petition seeking a CBI probe into the matter, while Jagdishan is contesting the charges through a plea for FIR quashing.