Category: Corporate

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Corporate

Sensex gains 820 points, Nifty settles above 24,200

Equity markets opened on a positive note on Friday, where the BSE Sensex climbed over 200 points during the opening session, while the NSE Nifty 50 comfortably traded above the 26,000 mark. Buying interest was seen across several sectors, with financial, IT and auto stocks leading the gains, although profit booking in select heavyweight shares limited the overall upside.

Market participants said improving domestic sentiment and steady corporate earnings expectations helped support equities. Investors also tracked global developments, including movements in US markets, commodity prices and expectations around interest rates, which continue to influence trading sentiment.

Among the major gainers were leading banking and financial stocks, while select technology companies also attracted buying amid hopes of stable demand in overseas markets. Auto shares advanced on expectations of healthy sales and improving consumer demand.

Foreign institutional investor (FII) activity and domestic institutional buying remained in focus as traders assessed fund flows. Analysts said sustained domestic inflows continue to provide support to Indian equities, even as global investors remain cautious because of geopolitical developments and uncertainty over the US Federal Reserve’s policy outlook.

Meanwhile, the Indian rupee strengthened modestly against the US dollar in early trade, offering additional support to market sentiment. Investors also kept a close watch on crude oil prices, as any sharp movement could influence inflation and corporate earnings.

Market experts expect volatility to remain elevated in the coming sessions, with investors awaiting fresh corporate earnings, macroeconomic data and global cues for further direction. Stock-specific action is likely to continue as companies begin announcing their quarterly financial results.

Also Read: Government clears Dixon-Vivo smartphone venture

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Corporate

BSNL launches satellite phone priced at ₹1.34 lakh

Bharat Sanchar Nigam Limited (BSNL) has introduced a new satellite phone priced at ₹1.34 lakh, offering communication services in areas where conventional mobile networks are unavailable. The launch is aimed at improving connectivity in remote, border and disaster-prone regions, though the device is not yet available for general public use without government approval.

Unlike regular smartphones that rely on cellular towers, the satellite phone connects directly to satellites, enabling users to make calls even in locations with little or no network coverage. This makes it particularly useful for emergency response teams, defence personnel, maritime users, mountaineers and organisations operating in isolated areas.

However, satellite phones are subject to strict regulations in India because of national security considerations. Individuals and organisations must obtain prior approval from the government before purchasing or using the device. Unauthorised possession or operation of satellite phones can attract legal action under existing telecom rules.

The newly launched handset is expected to support voice communication in difficult terrains where terrestrial telecom infrastructure is limited or unavailable. BSNL believes the service will strengthen communication during natural disasters and emergencies, when traditional mobile networks may become unavailable.

The launch is part of BSNL’s broader efforts to expand its communication services beyond conventional mobile and broadband networks. The state-run telecom operator has also been focusing on improving 4G services and expanding digital connectivity across rural and underserved regions.

Industry experts say satellite communication is becoming increasingly important as governments and telecom companies work to improve connectivity in remote areas. While the technology remains more expensive than conventional mobile services, it offers a reliable alternative for users operating in challenging environments.

The ₹1.34 lakh price tag reflects the specialised technology involved in satellite communication. Besides the cost of the handset, users may also need to pay service charges depending on the selected communication plan.

Also Read: Apollo Micro buys 41% Premier explosives stake

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Corporate

Apollo Micro buys 41% Premier explosives stake

Apollo Micro Systems has announced plans to acquire a 41.3% stake in Premier Explosives Ltd for ₹1,550 crore, marking one of the biggest deals in India’s defence manufacturing sector. The acquisition is expected to strengthen Apollo Micro’s presence in defence, aerospace and high-technology manufacturing.

The company will purchase the stake from Premier Explosives’ existing promoters and other shareholders, subject to regulatory approvals and customary conditions. Following the transaction, Apollo Micro Systems will become the largest shareholder in Premier Explosives and will also make an open offer to acquire additional shares in accordance with market regulations.

Premier Explosives is a well-established manufacturer of explosives, propellants and defence-related products, supplying both the Indian armed forces and organisations involved in the country’s space programme. The company also serves mining and infrastructure sectors, making it a strategic addition to Apollo Micro’s expanding portfolio.

Apollo Micro Systems said the acquisition aligns with its long-term strategy of building integrated capabilities across defence electronics, aerospace systems and advanced manufacturing. The company expects the partnership to create operational synergies, broaden its product offerings and strengthen its participation in India’s growing defence ecosystem.

The announcement was well received by investors, with Apollo Micro Systems’ shares rising around 5% in early trade. Market participants viewed the deal as a significant step towards expanding the company’s scale and positioning it to benefit from rising government spending on defence and indigenous manufacturing.

Industry analysts believe the acquisition will help Apollo Micro diversify its capabilities while supporting India’s push for self-reliance in defence production under the ‘Make in India’ initiative. The combination of defence electronics expertise with explosives and propulsion technologies could open new opportunities in missile systems, ammunition and space applications.

The companies are expected to work closely to explore technology sharing and strengthen manufacturing capabilities after the transaction is completed. Analysts also see potential for increased collaboration on future defence projects and exports.

Also Read: Fed chief Warsh names members for reform panels

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Corporate

Novo Nordisk launches once-weekly insulin Awiqli in India

Novo Nordisk has launched Awiqli, the world’s first once-weekly basal insulin, in India, offering a new treatment option for people living with diabetes. The launch comes as the country continues to witness a steady rise in diabetes cases, increasing the need for innovative and patient-friendly therapies.

Awiqli is designed to help adults with diabetes manage their blood sugar levels with just one injection a week, compared with the daily injections required for conventional basal insulin. The company believes the reduced injection frequency could improve treatment adherence and make diabetes management easier for many patients.

India is home to one of the world’s largest diabetic populations, with millions of people requiring long-term insulin therapy. Healthcare experts say the burden of diabetes continues to grow because of lifestyle changes, ageing, urbanisation and genetic factors, making effective and convenient treatment options increasingly important.

Novo Nordisk said the once-weekly insulin has undergone extensive clinical evaluation and demonstrated blood sugar control comparable to daily basal insulin, while maintaining a well-established safety profile. The therapy is intended for adults with both type 1 and type 2 diabetes, as prescribed by healthcare professionals.

Medical experts believe reducing the number of injections may encourage more patients to remain consistent with their treatment, a key factor in controlling diabetes and preventing long-term complications such as heart disease, kidney damage and vision loss.

The launch also reflects Novo Nordisk’s continued focus on expanding its diabetes care portfolio in India, one of its fastest-growing markets. The company has been investing in advanced therapies as demand for better diabetes management solutions continues to increase.

Doctors have welcomed the introduction of the once-weekly insulin, saying it offers greater flexibility for patients who struggle with daily injections. However, they emphasised that treatment decisions should always be made in consultation with healthcare professionals, based on individual medical needs.

Also Read: Dr Reddy’s delays semaglutide supplies over quality issue

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Dr Reddy’s delays semaglutide supplies over quality issue

Dr. Reddy’s Laboratories has delayed the supply of its semaglutide products after identifying a quality issue with the active pharmaceutical ingredient (API), pushing back planned shipments and triggering a decline in the company’s share price.

The Hyderabad-based drugmaker said the issue relates to a specific batch of the API used to manufacture semaglutide, a widely prescribed medicine for type 2 diabetes and weight management. The company stressed that the problem was detected during its quality checks and that patient safety remains its top priority.

As a precaution, Dr. Reddy’s has decided to postpone supplies until the issue is fully resolved and fresh batches meet all quality standards. The company did not disclose how long the delay would last but said it is working closely with suppliers and regulators to address the problem at the earliest.

The announcement comes at a time when demand for semaglutide-based medicines is rising rapidly across global markets. Pharmaceutical companies have been expanding production capacity to meet growing demand for diabetes and obesity treatments, making any disruption in supply closely watched by investors and healthcare providers.

Following the announcement, shares of Dr. Reddy’s came under pressure as investors assessed the potential impact on near-term sales and product launches. Analysts, however, noted that the delay appears to be linked to quality control rather than regulatory action, highlighting the company’s decision to prioritise compliance and product safety.

Dr. Reddy’s has not indicated any impact on its broader product portfolio and reiterated its commitment to delivering high-quality medicines. The company said it will resume supplies once the affected API issue is resolved and manufacturing meets the required quality benchmarks.

Also Read: Rupee gains 15 paise despite RBI’s dollar challenge

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SBI sells 1.42% stake for ₹1,655 cr ahead IPO

The State Bank of India (SBI) has sold a 1.42 per cent stake in SBI Funds Management Ltd (SBIFML) for ₹1,655 crore, taking a significant step ahead of the asset management company’s proposed initial public offering (IPO).

The country’s largest lender sold 13.65 lakh shares to French financial services group Amundi, its long-time joint venture partner in the mutual fund business. The transaction was completed at ₹12,125 per share, helping SBI unlock value from its investment while retaining a controlling stake in the company.

Following the deal, SBI’s holding in SBI Funds Management has come down from 62.11 per cent to 60.69 per cent. Amundi’s stake has increased from 37.89 per cent to 39.31 per cent. Despite the sale, SBI will continue to remain the majority shareholder and retain management control of the asset management business.

The transaction comes as SBI prepares for the proposed public listing of SBI Funds Management, one of India’s largest asset management companies. The IPO is expected to include an offer for sale (OFS), allowing existing shareholders to monetise part of their holdings rather than issuing fresh shares.

SBI Funds Management oversees assets worth more than ₹11 lakh crore and has built a strong presence across equity, debt and hybrid mutual fund schemes. The company has consistently remained among the country’s top asset managers, supported by SBI’s extensive branch network and Amundi’s global investment expertise.

Market participants believe the pre-IPO stake sale will help establish a benchmark valuation for the company before it enters the public markets. The proceeds will also strengthen SBI’s capital position while giving Amundi a larger share in the fast-growing Indian mutual fund industry.

The proposed IPO is expected to attract strong investor interest, given the continued growth in mutual fund investments and increasing participation from retail investors. India’s asset management industry has expanded rapidly over the past few years as more households have turned to systematic investment plans (SIPs) and market-linked investment products.

Also Read: Gold slips to ₹145,460, Silver tops ₹227,160

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Sensex jumps over 800 points, Nifty climbs above 24,200

Indian equity markets staged a strong comeback on Friday, with the BSE Sensex soaring more than 800 points and the NSE Nifty reclaiming the 24,200 mark. The rally was fuelled by upbeat sentiment after TCS reported a better-than-expected quarterly performance, encouraging investors to return to technology stocks.

Positive global cues and sustained buying by foreign institutional investors (FIIs) further strengthened market momentum. Investors largely looked beyond geopolitical concerns and instead focused on the start of the June-quarter earnings season, which is expected to set the tone for markets in the coming weeks.

Technology stocks led the advance, with TCS and Tech Mahindra emerging among the top gainers after strong buying interest. Gains were also seen across several frontline sectors, reflecting broad-based participation in the market rally.

On the flip side, Trent and Kotak Mahindra Bank were among the biggest losers as investors booked profits in select counters. However, their decline did little to dent the overall positive sentiment.

Market participants now await earnings from other major companies, with analysts expecting stock-specific action to remain high. Investors will also keep a close watch on global developments, foreign fund flows and macroeconomic data for further market direction.

Also Read: Apple, Broadcom sign $30 bn US chipmaking deal

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Sensex surpasses 230 points, Nifty reclaims 23,950

Indian equity benchmarks ended higher on Thursday, with the BSE Sensex gaining 238 points to close at 78,932.62, while the Nifty 50 settled above the 23,950 mark at 23,962.85. Positive buying in realty, PSU banking and metal stocks helped markets recover after a cautious start to the session.

Investor sentiment improved as traders accumulated rate-sensitive sectors amid hopes of supportive domestic macroeconomic conditions. Realty and public sector bank stocks led the rally, while gains in select heavyweight shares also lifted the broader market.

Among the top gainers on the Sensex were Trent, Adani Ports, Power Grid, State Bank of India, and NTPC, supported by strong buying interest. Realty stocks also witnessed healthy demand, contributing to the market’s upward momentum.

On the other hand, Titan, Infosys, Tech Mahindra, HCLTech, and Asian Paints ended among the top losers, with IT stocks witnessing profit booking as investors remained cautious ahead of global economic cues.

Sectorally, the Nifty Realty and PSU Bank indices emerged as the biggest gainers, while the IT index closed in the red. Broader markets also outperformed, with the mid-cap and small-cap indices ending the session with modest gains, reflecting improved risk appetite among investors.

Market participants remained watchful ahead of key global developments, including the release of the US Federal Reserve’s policy minutes and updates on international trade and geopolitical tensions. Analysts said domestic fundamentals continue to provide support, although global uncertainty may keep markets volatile in the near term.

The Indian rupee traded in a narrow range against the US dollar, while investors also tracked crude oil prices and foreign institutional investor activity for further direction.

Also Read: Apple, Broadcom sign $30 bn US chipmaking deal

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Apple, Broadcom sign $30 bn US chipmaking deal

Apple has announced a $30 billion agreement with Broadcom to manufacture advanced chips in the United States, marking one of its biggest investments yet in domestic semiconductor production. The multi-year deal is aimed at expanding Apple’s US supply chain while reducing dependence on overseas manufacturing.

Under the partnership, Broadcom will produce a range of high-performance chips at its American facilities. These components are expected to power future Apple devices, including iPhones, Macs, iPads and other products. The agreement supports Apple’s broader strategy of securing a stable supply of critical semiconductors while investing in advanced manufacturing within the country.

The announcement comes as global technology companies continue to diversify supply chains following recent disruptions caused by geopolitical tensions and chip shortages. By sourcing more components from the US, Apple hopes to improve supply reliability and strengthen long-term manufacturing resilience.

The investment also aligns with the US government’s push to boost domestic semiconductor production. Washington has encouraged companies to expand local manufacturing through incentives aimed at reducing reliance on foreign chip suppliers and strengthening national technological capabilities.

Apple said the partnership with Broadcom will support innovation, create high-skilled jobs and help develop next-generation semiconductor technologies. The company has increasingly focused on designing its own chips, and the latest agreement is expected to further strengthen its hardware ecosystem.

Broadcom, one of Apple’s key suppliers, is expected to play a central role in manufacturing specialised components that support wireless connectivity and other advanced technologies used across Apple’s product lineup. The company said the investment would expand its manufacturing capabilities and reinforce its long-standing relationship with Apple.

Also Read: US dollar holds firm after Fed minutes

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SBI Funds IPO opens July 14

SBI Funds Management has fixed the price band for its initial public offering (IPO) at ₹545-574 per share. The public issue will open for subscription on July 14 and close on July 16, while anchor investors can bid a day earlier on July 13.

The IPO is worth about ₹11,693 crore, making it the biggest public issue in India this year. It is entirely an Offer for Sale (OFS), which means the company will not receive any money from the issue. Instead, existing shareholders State Bank of India (SBI) and Amundi India Holding will sell part of their stakes.

At the upper end of the price band, SBI Funds Management is valued at around ₹1.17 lakh crore. The company is India’s largest mutual fund manager, with assets worth nearly ₹12.5 trillion under management as of March 2026.

The IPO has reserved shares for institutional investors, retail investors, eligible SBI shareholders and employees. Employees will get a ₹54 per share discount, while the minimum application size has been fixed at 26 shares.

The shares are expected to be listed on the BSE and NSE on July 21, subject to successful allotment and regulatory approvals. Market experts expect strong investor interest, given the company’s leadership in the mutual fund industry and the steady rise in retail participation through SIPs.

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