Market News

NRI Wealth Managers Back India Despite US Rally Concerns

Wealth managers are advising Non-Resident Indians to maintain their India investments despite recent US market strength, according to reports citing structural growth opportunities and improving corporate fundamentals. The guidance suggests that short-term volatility and currency fluctuations should not deter investors from India's long-term wealth creation potential.

Aluminium Gaining Ground as Manufacturers Shift from Costly Copper

Record copper prices are prompting manufacturers, particularly automakers, to increasingly adopt aluminium as a cost-effective alternative, supported by aluminium's lighter weight and lower expenses. Supply constraints, energy transition demands, and geopolitical disruptions are expected to sustain elevated copper prices and bolster aluminium's long-term growth potential.

India's mutual fund industry targets 10 crore investors, ₹150 lakh crore AUM by 2030

The Association of Mutual Funds in India (AMFI) has outlined an ambitious roadmap expecting the mutual fund industry to reach 10 crore investors and ₹150 lakh crore in assets under management by 2030. According to AMFI CEO Venkat N. Chalasani, this expansion will be driven by consistent SIP flows, increased participation from tier-2 and tier-3 cities (B-30), regulatory reforms, and growing financial literacy across the country.

Vedanta Among India's Cheapest Stocks by Price-to-Earnings Ratio

Vedanta has been identified among the top 5 Indian stocks with the lowest price-to-earnings ratios, alongside Repco Home Finance, LIC Housing Finance, Power Finance Corporation, and The Great Eastern Shipping. Most of these undervalued stocks are widely held by mutual funds and carry strong Value Research ratings.

Yes Bank Q1 advances surge 18% to Rs 2.85 lakh crore

Yes Bank reported an 18.4% year-on-year increase in advances to Rs 2.85 lakh crore and a 14% rise in deposits to Rs 3.15 lakh crore in Q1 FY27, according to the bank's business update. The growth in lending outpaced deposit expansion, while the bank's liquidity coverage ratio improved despite a marginal sequential decline in deposits.

India's FMCG, Healthcare Sectors Set for Strong Growth in FY27

Brickwork Ratings projects robust growth for India's consumer goods and healthcare sectors in the coming fiscal year, driven by tax relief, rising consumer spending, and expanding medical tourism. Most sectors maintain a stable outlook, though power distribution faces headwinds from ongoing debt challenges.

Oil Prices Steady as US-Iran Peace Efforts Offer Supply Relief

Oil prices remained relatively flat as ongoing peace talks between the United States and Iran raised expectations for improved access through the Strait of Hormuz, with Gulf producers ramping up output. The combination of potential diplomatic progress and increased regional supply is creating a near-term oil glut that is outpacing demand growth, particularly from China.

LME approves Adani Copper as listed brand for contract delivery

The London Metal Exchange has approved Adani Copper for delivery against its contracts, with warrant issuance beginning July 10, according to reports. The approval of copper produced by Adani Enterprises' 500,000-tonne capacity facility in Gujarat could strengthen India's copper self-reliance and reduce import dependence.

Manipal Health Gets SEBI Nod for India IPO, Targets July Launch

Manipal Health Enterprises, backed by Singapore's Temasek, has received SEBI approval for its initial public offering scheduled for late July or early August, aiming to raise up to $1.2 billion. The listing positions the hospital chain among India's largest healthcare IPOs despite current market headwinds driven by geopolitical concerns and foreign portfolio outflows.

Moneyview, Chandan Steel receive Sebi approval for IPO launches

India's Securities and Exchange Board (Sebi) has approved Initial Public Offerings for fintech unicorn Moneyview and Chandan Steel, marking a significant development in the country's capital markets. Moneyview plans to raise Rs 1,500 crore through a combination of fresh share issuance and offer for sale to strengthen its financial services and loan disbursement capabilities.

Godrej Consumer Projects Strong Q1 Growth on Volume Gains

Godrej Consumer expects high-teen consolidated revenue growth in the first quarter, driven primarily by solid underlying volume increases and price adjustments implemented to offset elevated input costs. The company anticipates progressive margin improvement as commodity prices ease, supported by strong performance in key international markets including Indonesia and the GUAM region.

Sumitomo Chemical shares surge 11% on Samsung glass substrate JV

Sumitomo Chemical India shares jumped 11% on heavy trading, marking the largest single-day gain in nearly two years, following a major joint venture announcement by its parent company's Korean subsidiary Dongwoo Fine-Chem with Samsung Electro-Mechanics. The partnership in glass core substrates for advanced semiconductor packaging boosted investor sentiment around next-generation technology demand.

Bajaj Housing Finance shares surge 5% on strong Q1 AUM growth

Bajaj Housing Finance shares rallied 5% following the company's announcement of 24% year-on-year growth in assets under management to Rs 1.5 lakh crore for Q1FY27. The strong performance was underscored by gross disbursements reaching Rs 19,500 crore, signaling robust demand in the housing finance sector.

Nasdaq Falls on Tech Weakness as Softer Jobs Data Eases Rate Hike Fears

US stock markets closed mixed on Friday as weaker-than-expected June employment data cooled expectations for aggressive Federal Reserve rate increases, with the Nasdaq declining due to losses in technology and semiconductor stocks while the Dow Jones Industrial Average gained ground. The softer payrolls report provided near-term market relief, though lingering inflation concerns tied to crude oil price movements continue to weigh on investor sentiment.

Chip Stocks Tumble as Profit-Taking Follows Record Rally

Major semiconductor stocks including Micron, Intel, and AMD experienced sharp declines of up to 11% following a record-breaking quarter, with the VanEck Semiconductor ETF falling over 5%. The selloff was driven by profit-taking and renewed concerns about potential oversupply in AI computing infrastructure, particularly following Meta's expansion plans.

Indian banks boost FCNR deposit rates to attract NRI dollar inflows

Indian banks have increased returns on Foreign Currency Non-Resident (FCNR) deposits following RBI regulatory changes, with Ujjivan Small Finance Bank offering 7.5% on three to five-year USD deposits and DBS Bank India providing up to 5.6%. The move aims to attract NRI dollar savings amid efforts to boost foreign currency inflows into the banking system.

Paisalo Digital targets loan book doubling with AI, Nvidia chips

Paisalo Digital, an Indian NBFC, is implementing a technology-first strategy to double its loan book within three years, leveraging artificial intelligence and Nvidia chips to reduce funding costs and improve yields. The company aims to achieve this growth while maintaining healthy net interest margins and strong asset quality without requiring immediate fresh equity.

Rupee hits sharpest fall since June 8, weakens to 95.24 per dollar

The Indian rupee weakened significantly to cross the 95 per dollar mark for the first time in nearly a month, marking its sharpest decline since early June amid expectations of hawkish US Federal Reserve commentary. The Reserve Bank of India intervened to contain further losses, with traders anticipating a new trading range for the currency.

US stocks edge lower as tech weakness offsets Meta gains

US stock indices closed slightly lower as technology and semiconductor shares declined, despite Meta's gains following reports of AI-driven cloud expansion. Investors monitored Federal Reserve Chair Kevin Warsh's comments on easing inflation risks and tracked geopolitical tensions and upcoming employment data.

Lefevre Quote: Uncertainty, Not Disaster, Deters Investors

Financial wisdom attributed to Edwin Lefevre highlights how investor hesitation stems from uncertainty about future improvements rather than imminent catastrophe. The observation underscores that market downturns often present buying opportunities for disciplined investors willing to act despite incomplete clarity.