The Indian benchmark equity indices are up for 3rd consecutive sessions and new trade deals. Today’s market is pulled up by share prices of Reliance Industries, ICICI Bank And Bharti Airtel. The NSE Nifty 50 opened 78.45 points or 0.31% up at 25,139.35, while the BSE Sensex opened 265.06 points, or 0.32% up at 82,451.87.
Global Markets
- The S&P 500 erased early losses to close at a new record high on Tuesday, as investors shifted focus to defensive sectors amid weakness in technology stocks.
- The S&P 500 Index closed up 4.02 points, or 0.06%, at 6,309.62.
- The Dow Jones Industrial Average closed up 179.37 points, or 0.40%, at 44,502.44.
- The FTSE 100 closed up 10.82 points, or 0.12%, at 9,023.81.
- DAX closed down 265.90 points, or 1.09%, at 24,041.90.
Asian Indexes
- Asian markets opened higher after former U.S. President Donald Trump announced a trade agreement with Japan, easing worries over ongoing tariff tensions.
- In a post on Truth Social, Trump claimed, “We just completed a massive Deal with Japan, perhaps the largest Deal ever made.” He also revealed a separate agreement with the Philippines, imposing a 19% tariff on its exports.
- Nikkei up 3.21%
- Hang Seng up 0.99%
- Kospi up 0.03%
Commodities Market
- WTI crude is trading at $65.4, up 0.2% for the day.
- Brent crude is at $68.7, up 0.24%.
- Gold is up 0.1% and now trading at Rs. 10,021 per gram.
- Silver is up 0.51% and now trading at Rs. 1,16,250 per kg.
- Copper is up 0.08% and now trading at Rs. 898.70 per kg.
Results to Watch – July 23
Key companies set to report today include Infosys, Dr. Reddy’s Laboratories, Coforge, Tata Consumer Products, Persistent Systems, SRF, Syngene International, and Bajaj Housing Finance. Other names on the radar: Aditya Birla Real Estate, Bikaji Foods, Cigniti Technologies, CMS Info Systems, Force Motors, Maharashtra Scooters, MAS Financial, Mahindra Holidays, Oracle Financial, PCBL Chemical, Sapphire Foods, Sky Gold and Diamonds, Supreme Petrochem, Syrma SGS, Thyrocare, and Westlife Foodworld.
Stocks to Watch
- BGR Energy: Tamil Nadu Power Generation Corp. ended BGR Energy’s ₹2,600 crore project citing incomplete deliverables and insurance compliance issues. BGR Energy asserts the termination will not materially impact its financial or operational standing and is pursuing arbitration.
- Oberoi Realty: An existing investor is set to divest a 3% equity stake through a $230 million block deal executed at a 4% discount to market price. Goldman Sachs is acting as banker for the transaction, with Invesco Developing Markets Fund exiting via a clean-up trade.
- Lodha Developers (Macrotech Developers): A 1% equity stake will be offloaded by an existing investor in a $165 million block deal at a 4% discount to the prevailing price. The transaction, managed by Goldman Sachs, marks a full exit for the investor as part of a larger clean-up strategy.
- Siemens Energy India: A Russian arbitration court ruled Siemens Energy India must pay ₹443.76 million plus 8% interest after invalidating a disputed contract and advances. The company plans to appeal, maintaining the decision is unsustainable under law and contract.
- Jindal Steel & Power (Now Jindal Steel Ltd): The company has officially rebranded to Jindal Steel Limited, effective July 22, 2025, reflecting its sharpened steel sector focus. The name change aligns with the company’s dedicated steel business and future strategy.
- Sandhar Technologies: Sandhar Tech has signed a power purchase agreement with renewable energy firm KK 1A for energy procurement. The agreement supports the company’s sustainability and energy management initiatives.
- Shyam Metalics and Energy: The board approved raising up to ₹4,500 crore through equity issuance or other eligible securities, including QIP and preferential offers. This fund-raising will support business expansion and future projects.
- Tilaknagar Industries: Tilaknagar clarified that while it regularly explores strategic options, no event requires exchange disclosure, countering acquisition speculation linking it to the Imperial Blue brand. The company addressed media-fueled stock volatility amid acquisition rumors.
- Vardhman Special Steels: Vardhman plans a new greenfield plant in Punjab with a 500,000 MT annual capacity, slated for FY 2029-30, via partnerships with ASG HOLDCO BETA and Sone Solar. This project aims to meet product demand and enhance manufacturing capabilities.
- KNR Constructions: Delhi High Court lifted disqualification on KNR Ramanattukara Infra, a KNR Constructions subsidiary, after the expiry of an NHAI suspension order. This enables the company to resume bidding for new infrastructure projects.
- Zensar Technologies: Approved plans to establish a new entity in Serbia focused on software and allied services. The move is part of the company’s international business expansion.
- Simplex Infrastructures: Allocated 10 lakh equity shares to ICICI Bank and 1.7 lakh shares to National Asset Reconstruction Company via dues conversion at ₹294 per share. The allotment streamlines existing debt obligations.
- Hyundai Motor India: Hyundai received a GST compensation cess demand and penalty totaling ₹517.34 crore for SUV models sold between Sept 2017 and Mar 2020; the company plans to contest the order. The case concerns alleged short payment of taxes and is under review for appeal.
- Dalmia Bharat: Subsidiary Dalmia Cement will boost clinker capacity by 3.6MT and cement capacity by 6MT at the Kadapa plant. The expansion aims to meet rising construction sector demand.
- Kirloskar Ferrous Industries: Declared preferred bidder in the auction for the Jambunatha iron ore mine held January 27, 2025. The win strengthens the company’s raw material security.
- Man Infra: The board approved converting 1.58 crore convertible warrants into equity shares, totaling ₹184 crore. The move broadens the company’s equity base.
- Denta Water and Infra Solutions: Won new orders totaling ₹183 crore across seven projects, raising its outstanding order book. Re-appointed Manish Jayasheel Shetty as Managing Director for another three years.
- Oswal Pumps: Acquired 5.2 crore equity shares in subsidiary Oswal Solar Structure for ₹303.76 crore. The acquisition consolidates its stake and accelerates solar expansion.
- Infosys: Announced an expanded strategic partnership with AGCO Corporation to overhaul IT infra and HR operations. The extended collaboration enhances digital transformation initiatives.
- Exide Industries: Invested another ₹100 crore in Exide Energy Solutions via rights issue, bringing the total to ₹3,702.23 crore. Supports growth in energy storage solutions.
- Uno Minda: Its Vietnam-based subsidiary completed the acquisition of e-Drives business assets from Friwo Vietnam Company. The deal expands Uno Minda’s footprint in e-mobility solutions.
- DCW: Commissioned phase one of its CPVC expansion ahead of schedule, adding 20,000MT capacity; total is now 40,000MT. The move doubles CPVC production capabilities.
- Shoppers Stop: Will commence operations at its new warehouse in Lakkenahalli Village, Bengaluru. Facility to streamline supply chain and logistics.
- Hero MotoCorp: Launched the new HF Deluxe Pro motorcycle, priced at ₹73,550. The release targets the commuter segment.
- Veranda Learning Solutions: Raised ₹357.4 crore by allotting 1.58 crore shares at ₹225.2 per share to institutional investors in a QIP. The fund-raise will support the company’s expansion plans.
Bulk Deals
- Polyplex Corporation: First Water Fund acquired 2 lakh shares (0.63%) at ₹1,125 each, while Haresh Tikamdas Kaswani was the seller.
- Vintage Coffee: Jitendra Rasiklal Sanghavi purchased 4.75 lakh shares, representing 0.37% equity, at an average price of ₹147.92 per share.
- 360 ONE WAM: BC Asia Investments X Ltd offloaded 1.5 crore shares, equivalent to a 3.71% stake, at an average price of ₹1,160.76.
- Sambhv Steel Tubes: SSPL Securities picked up 15 lakh shares (0.51%) at ₹142.44 apiece.
Written by Fazal Vahab
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