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Serum Institute backs Gates MRI for experimental TB vaccine

The Serum Institute of India has entered into a partnership with the Gates Medical Research Institute to manufacture an experimental tuberculosis vaccine, marking an important step in the global fight against one of the world’s most persistent infectious diseases. The collaboration aims to accelerate the development, testing and eventual production of a vaccine that could significantly improve protection against TB.

At the centre of the partnership is M72/AS01E, an experimental vaccine candidate that has shown encouraging results in previous clinical trials. Scientists believe it has the potential to become the first effective vaccine for preventing tuberculosis in adults in over 100 years, addressing a major gap in global healthcare.

Tuberculosis remains a leading cause of death from infectious diseases despite decades of treatment and prevention efforts. According to global health experts, India continues to account for the largest number of TB cases worldwide, making the search for better vaccines an urgent priority.

As part of the agreement, the Serum Institute of India will manufacture the vaccine for advanced clinical trials and prepare for commercial production if regulatory approvals are granted. The company’s large-scale manufacturing capacity is expected to play a critical role in ensuring affordable vaccine supplies for countries where TB remains widespread.

The vaccine candidate has already delivered promising outcomes during a Phase 2b clinical trial, where it significantly lowered the risk of developing active pulmonary tuberculosis among adults with latent TB infection. Researchers are now moving into larger Phase 3 trials to confirm the vaccine’s effectiveness across different populations.

Unlike the widely used BCG vaccine, which mainly protects children against severe forms of TB, the new vaccine is designed to provide better protection for adolescents and adults. Since adults account for the majority of tuberculosis transmission, an effective vaccine could dramatically reduce new infections and save millions of lives over time.

The partnership combines Gates MRI’s expertise in vaccine research with Serum Institute’s experience in manufacturing and global distribution. Together, the organisations hope to speed up the journey from clinical development to widespread availability.

The collaboration also highlights India’s growing importance in global vaccine production. Over the years, Serum Institute has supplied vaccines for diseases including measles, polio, meningitis and COVID-19, earning a reputation as one of the world’s leading vaccine manufacturers.

Public health experts believe the development of a successful adult TB vaccine would be one of the biggest breakthroughs in infectious disease prevention in decades. Alongside improved diagnosis and treatment, vaccination could significantly reduce the spread of tuberculosis in countries with a high disease burden.

India has set ambitious targets to eliminate TB and continues expanding screening, treatment and awareness programmes. However, experts say these efforts will become much more effective if supported by a modern vaccine capable of preventing new infections.

While the vaccine is still under evaluation and is not yet available for public use, the partnership signals growing confidence in its potential. The ongoing clinical trials will determine whether M72/AS01E can deliver long-term protection and meet international regulatory standards.

If successful, the collaboration between the Serum Institute of India and Gates Medical Research Institute could reshape global tuberculosis prevention. Beyond scientific innovation, it represents a shared commitment to making life-saving vaccines accessible to millions of people, particularly in countries where TB continues to pose a serious public health challenge.

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Apple regains world’s most valuable company title

Apple has reclaimed its position as the world’s most valuable company, overtaking AI chipmaker Nvidia after a strong rally in its share price boosted the iPhone maker’s market capitalisation. The shift marks another chapter in the intense competition among the world’s biggest technology companies, where leadership has changed several times over the past year as investor sentiment continues to evolve.

At the close of trading, Apple’s market value rose to around $4.1 trillion, edging past Nvidia, whose market capitalisation stood at just over $4 trillion. The change reflects renewed investor confidence in Apple’s long-term strategy, even as Nvidia remains one of the biggest beneficiaries of the global artificial intelligence boom.

Apple’s comeback follows weeks of steady gains in its stock price. Investors have responded positively to the company’s efforts to strengthen its artificial intelligence strategy, expand its services business and introduce new software features designed to integrate AI more deeply across its ecosystem. The rally has helped Apple recover from earlier concerns over slowing iPhone demand and increasing competition in the smartphone market.

While Nvidia continues to dominate the AI chip industry, its shares experienced a modest pullback after an extraordinary run over the past two years. The company remains the leading supplier of advanced graphics processing units (GPUs) used to train and run artificial intelligence models, making it one of the biggest winners of the global AI revolution.

Despite slipping to second place, Nvidia’s business continues to perform strongly. Demand for its AI processors remains robust, with major technology companies investing billions of dollars in artificial intelligence infrastructure, cloud computing and data centres. Analysts say the change in rankings reflects normal market fluctuations rather than any weakness in Nvidia’s fundamentals.

Apple’s return to the top also highlights the company’s ability to maintain investor confidence through its diversified business model. Beyond hardware, the company generates significant revenue from services such as the App Store, Apple Music, iCloud and Apple TV+, providing a steady source of income even during slower product cycles.

The company has also increased its focus on artificial intelligence. At its recent developer events, Apple introduced new AI-powered features across iPhone, iPad and Mac devices, reinforcing its commitment to bringing generative AI capabilities to millions of users. Investors believe these initiatives could strengthen customer loyalty while creating new opportunities for long-term growth.

The battle for the title of world’s most valuable company has become increasingly competitive. Over the past year, Apple, Nvidia and Microsoft have frequently exchanged positions at the top as investors reassessed growth prospects across different segments of the technology industry. The rapid rise of artificial intelligence has significantly boosted valuations for companies seen as leaders in AI hardware and software.

Market analysts say Apple’s strong brand, loyal customer base and integrated ecosystem continue to give it a competitive advantage. Even as the company faces challenges in smartphone sales, its ability to generate recurring revenue from services and expand into new technologies has reassured investors.

For Nvidia, the brief loss of the top position does little to diminish its remarkable achievements. Under CEO Jensen Huang, the company has transformed from a graphics chip manufacturer into the backbone of the AI industry. Its processors power many of the world’s most advanced artificial intelligence models, making Nvidia a central player in the ongoing AI revolution.

The latest rankings also underline the enormous influence of the technology sector on global financial markets. Together, Apple, Nvidia and Microsoft account for trillions of dollars in market value and play a major role in driving major stock market indices such as the S&P 500 and Nasdaq.

Investors are now closely watching upcoming earnings reports from both Apple and Nvidia, which could once again reshape the rankings. Any major announcements related to artificial intelligence, product launches or financial performance are expected to have a significant impact on their valuations.

For consumers, the changing order may not affect the products they use every day. However, for investors and the broader technology industry, it reflects the intense competition among the world’s biggest innovators as they race to define the future of artificial intelligence, consumer technology and digital services.

Apple’s return to the top is a reminder that while AI has transformed the technology landscape, long-term market leadership still depends on a combination of innovation, financial performance, customer loyalty and investor confidence. As the race between Apple, Nvidia and other technology giants continues, the title of the world’s most valuable company is likely to remain one of the most closely watched contests on Wall Street.

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Sensex surges 965 points, Nifty closes above 24,300

Indian equity markets ended Friday’s session on a strong note, with benchmark indices witnessing sharp gains as robust buying in IT, banking and financial stocks lifted investor sentiment.

The BSE Sensex climbed 965 points to settle at 78,151.45, while the NSE Nifty50 advanced 261.55 points to close at 24,334.30, comfortably ending above the key 24,300 level. The rally marked one of the strongest single-day gains for the benchmark indices in recent weeks. Positive quarterly earnings from several blue-chip companies and sustained domestic buying helped markets shrug off mixed global cues.

The upbeat mood on Dalal Street was largely driven by encouraging first-quarter earnings, especially from technology companies. Investors also remained optimistic ahead of earnings announcements from several banking and financial heavyweights, keeping buying interest strong throughout the trading session.

Technology shares emerged as the biggest drivers of the rally. Strong demand for Tata Consultancy Services (TCS), Infosys, Tech Mahindra and other IT majors pushed the sector higher after companies reported healthy earnings and maintained a positive business outlook.

Banking stocks also attracted strong buying, with expectations of stable earnings and improving credit growth supporting investor confidence. Financial services counters joined the rally, adding further momentum to the benchmarks.

Among the biggest gainers on the Sensex were Kotak Mahindra Bank, which rose around 4 per cent, followed by TCS, Reliance Industries, ICICI Bank, HDFC Bank, Axis Bank, Mahindra & Mahindra, Bajaj Finance, Infosys and Hindustan Unilever. Their gains contributed significantly to the day’s market surge.

On the other hand, a few heavyweight stocks witnessed profit booking. Sun Pharma, Trent, Bharti Airtel and UltraTech Cement ended lower and featured among the top losers of the session. However, their decline had little impact on the broader market rally.

The positive sentiment came despite mixed trends in global markets. Investors preferred to focus on domestic fundamentals, supported by a healthy earnings season and continued participation from domestic institutional investors. Analysts said the market’s resilience reflected confidence in India’s economic outlook even as global uncertainties persist.

Market experts believe the latest rally was fuelled by multiple factors. Better-than-expected quarterly earnings, sustained buying in IT stocks, optimism over upcoming financial sector results and improving technical indicators encouraged investors to increase their exposure to equities. The recovery in the rupee also added to the positive mood.

Reliance Industries remained in focus ahead of its quarterly earnings announcement. The stock gained during the session after recent developments involving promoter shareholding boosted investor interest. Financial stocks also remained active as traders positioned themselves ahead of earnings from leading private sector banks.

Sector-wise, the Nifty IT index outperformed all other sectoral indices, while banking, financial services and FMCG stocks also ended with healthy gains. Auto and capital goods shares traded firm during the session, whereas pharmaceutical and select consumer stocks underperformed.

The broader market, however, witnessed a relatively mixed performance. While several mid-cap and small-cap stocks gained, buying remained selective as investors preferred quality large-cap companies during the ongoing earnings season.

Foreign institutional investor (FII) activity, quarterly earnings, crude oil prices and global developments will continue to remain key triggers for the market in the coming weeks. Analysts believe strong corporate results and stable domestic economic indicators could help sustain positive momentum, although volatility cannot be ruled out.

Friday’s rally has reinforced confidence in Indian equities, with both the Sensex and Nifty ending the week on a positive note. As the June-quarter earnings season gathers pace, investors will closely watch corporate commentary and management guidance to assess whether the current momentum can extend further in the sessions ahead.

Also Read: BHEL posts ₹377 cr Q1 profit, revenue jumps 39%

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JSW MG Motor India earmarks ₹1,400 cr for EV expansion

JSW MG Motor India is accelerating its push into the country’s fast-growing new energy vehicle market, announcing plans to invest ₹1,400 crore during the current financial year to expand its product portfolio and strengthen manufacturing capabilities. The investment will support the launch of new battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) as the company looks to capitalise on rising consumer interest in cleaner mobility solutions.

The company said it plans to introduce two new models by FY27—a battery electric SUV and a plug-in hybrid SUV. The move reflects JSW MG Motor India’s strategy of offering multiple electrified powertrain options instead of focusing solely on battery-powered vehicles. Company officials believe Indian customers are increasingly looking for alternatives that combine lower emissions with practical everyday usability.

Managing Director Anurag Mehrotra said demand for electric vehicles has strengthened in recent months, helped by higher fuel prices and growing awareness of sustainable mobility. He also noted that the recent geopolitical tensions in West Asia have highlighted the importance of reducing dependence on imported fossil fuels, encouraging more consumers to consider electric and hybrid vehicles.

The planned investment will be used to support product development, manufacturing upgrades, localisation of components and expansion of the company’s new energy vehicle ecosystem. A significant portion of the funds will also go towards preparing the company’s Halol manufacturing facility in Gujarat for future products and increasing production capacity.

JSW MG Motor has steadily expanded its presence in India’s electric vehicle market over the past few years. Models such as the MG ZS EV, MG Comet EV and the recently introduced MG Windsor EV have helped the company establish itself as one of the country’s leading electric passenger vehicle manufacturers. The company believes customer acceptance of EVs is growing steadily, supported by better charging infrastructure, improving battery technology and lower running costs compared with conventional petrol and diesel vehicles.

While battery electric vehicles remain central to its strategy, JSW MG sees strong potential for plug-in hybrid technology in India. Plug-in hybrid vehicles combine an electric motor with a petrol engine, allowing drivers to travel shorter distances using battery power while eliminating range anxiety on longer journeys. Company executives believe such vehicles could appeal to buyers who are interested in cleaner mobility but remain concerned about charging availability in certain parts of the country.

The company is also focusing on increasing localisation to make new energy vehicles more affordable. Producing more components within India can help reduce manufacturing costs, strengthen the domestic supply chain and improve long-term competitiveness. Localisation has become an important priority for automakers as the government encourages domestic manufacturing under various industrial policies.

India’s electric vehicle market has witnessed steady growth over the past few years, driven by rising environmental awareness, government incentives, expanding charging infrastructure and a wider choice of products across different price segments. Passenger vehicle manufacturers including Tata Motors, Mahindra, Hyundai, BYD and MG have intensified competition by introducing new electric models, while several brands are also evaluating hybrid technologies to meet evolving customer preferences.

Industry analysts believe the addition of plug-in hybrid SUVs could further diversify India’s new energy vehicle market, especially as buyers seek vehicles that offer both efficiency and flexibility. Unlike conventional hybrids, plug-in hybrid models can be charged externally and typically deliver longer electric-only driving ranges, making them suitable for daily commuting while retaining the convenience of a petrol engine for longer trips.

JSW MG’s latest investment announcement underlines its long-term commitment to the Indian market following the joint venture between JSW Group and MG Motor. The partnership has enabled the company to expand its manufacturing capabilities, strengthen local sourcing and introduce products tailored to Indian customers.

With the new investment and upcoming product launches, JSW MG Motor India aims to further strengthen its position in the country’s rapidly evolving electric vehicle and plug-in hybrid segments. As consumer interest in sustainable transportation continues to rise, the company’s strategy of offering multiple clean mobility options is expected to play a key role in its future growth.

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BHEL posts ₹377 cr Q1 profit, revenue jumps 39%

Bharat Heavy Electricals Ltd. (BHEL) delivered a strong financial turnaround in the first quarter of FY27, reporting a consolidated net profit of ₹377 crore against a net loss of ₹212 crore in the corresponding period last year. The state-owned engineering and manufacturing company also recorded a sharp rise in revenue, reflecting stronger execution of power sector projects and improving business momentum.

For the quarter ended June 30, BHEL’s revenue from operations increased 39% year-on-year to ₹7,693 crore, compared with ₹5,528 crore in the same quarter of the previous financial year. The growth was primarily driven by higher execution in the company’s power business, which continues to account for the largest share of its revenue.

The company attributed the improved performance to faster project execution, better operational efficiency and increased demand for equipment and services from the power sector. India’s growing investment in electricity generation and transmission infrastructure has created new opportunities for BHEL, which remains one of the country’s leading manufacturers of power plant equipment.

The latest quarterly results mark a significant turnaround for the public sector enterprise after reporting losses in the corresponding quarter last year. Improved execution across ongoing projects helped the company strengthen both its revenue and profitability, reflecting a recovery in business activity as several large contracts progressed during the quarter.

The power segment remained the biggest contributor to BHEL’s performance. The company has been witnessing stronger order execution amid rising investments in thermal power capacity, renewable energy integration and transmission infrastructure. With electricity demand continuing to grow across the country, utilities have accelerated project implementation, creating a favourable environment for engineering and equipment suppliers.

Industry analysts believe BHEL is benefiting from the government’s continued focus on expanding power generation capacity to meet rising energy requirements. Several thermal power projects that had remained slow in previous years have gathered pace, resulting in increased demand for boilers, turbines, generators and associated engineering services manufactured by the company.

BHEL has also been strengthening its execution capabilities by focusing on timely project completion, cost optimisation and operational efficiency. These measures have helped improve margins while ensuring better utilisation of manufacturing facilities across its plants.

Apart from the power sector, the company continues to pursue opportunities in industrial equipment, transportation, defence and renewable energy. However, power equipment remains its core business and the primary driver of revenue growth. As India moves towards becoming a major global manufacturing and energy hub, demand for reliable power infrastructure is expected to remain robust over the coming years.

The company’s healthy order book provides further confidence about future growth. BHEL has secured several large domestic contracts over the past year, particularly from state-owned and private power producers. These projects are expected to support revenue growth as execution gathers pace over the coming quarters.

The improving financial performance also reflects the broader recovery in India’s capital goods sector. Increased public infrastructure spending, expanding industrial activity and higher investments in electricity generation have created a positive business environment for engineering companies. Government initiatives aimed at strengthening domestic manufacturing under the “Make in India” programme have further supported demand for locally manufactured equipment.

Market participants viewed the quarterly results as a positive sign for BHEL’s long-term growth prospects. The return to profitability demonstrates the company’s ability to convert its strong order pipeline into revenue while maintaining operational discipline. Investors will now closely watch whether the company can sustain this momentum through the remainder of FY27.

Going forward, BHEL is expected to benefit from continued investments in thermal power projects, renewable energy integration, grid modernisation and industrial infrastructure. With India’s electricity demand projected to rise steadily over the next decade, the company remains well positioned to play a key role in supplying critical equipment for the country’s energy transition.

The strong first-quarter performance highlights BHEL’s improving operational strength and signals renewed confidence in its growth strategy. If project execution continues at the current pace, the company could maintain healthy earnings momentum while strengthening its position in India’s rapidly expanding power and engineering sector.

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Tech Mahindra posts robust Q1 with 28% rise in profit

Tech Mahindra reported a strong start to FY27, posting a 28.5% rise in first-quarter net profit as healthy deal wins, improved operating margins and steady execution helped offset a cautious global technology spending environment.

The IT services company reported a consolidated net profit of ₹1,465 crore for the quarter ended June 30, up from ₹1,140 crore a year earlier. Revenue from operations increased 17.7% year-on-year to ₹15,712 crore, beating market expectations and reflecting steady demand across key business segments.

The company’s performance comes at a time when the Indian IT sector continues to face slower discretionary spending as global enterprises remain cautious amid economic uncertainty. While clients are delaying some large transformation projects, Tech Mahindra said demand for artificial intelligence (AI), cloud and digital engineering services continues to support business growth.

A key highlight of the quarter was the strong improvement in deal wins. Total order bookings rose to $1.08 billion, compared with $809 million in the corresponding quarter last year. The higher deal intake signals growing client confidence and provides better revenue visibility for the coming quarters.

The company also recorded an improvement in profitability, with operating margins expanding on the back of cost optimisation measures, higher productivity and improved resource utilisation. The margin expansion is part of Tech Mahindra’s ongoing turnaround strategy aimed at improving operational efficiency while focusing on high-value business opportunities.

Managing Director and Chief Executive Officer Mohit Joshi said the company delivered another quarter of consistent execution despite an uncertain business environment. He noted that strong deal momentum and improving margins reflect the success of the company’s transformation efforts and position it well for long-term growth.

Among business verticals, the manufacturing segment emerged as a key growth driver, supported by increased spending on digital transformation and engineering services. The communications business, which contributes a significant share of the company’s revenue, also showed signs of stabilisation after facing pressure over the past few quarters.

Tech Mahindra continued to strengthen its capabilities in emerging technologies during the quarter by expanding partnerships with global technology companies. The company announced collaborations in areas such as AI, cloud computing and intelligent automation to help enterprise customers modernise their operations and improve productivity.

These results indicate that Tech Mahindra’s turnaround strategy is gaining traction. While profit growth was strong, some analysts noted that net profit was marginally below estimates due to higher tax expenses. However, the company’s stronger revenue growth, healthy deal pipeline and improving margins were seen as positive indicators.

The latest earnings also contrast with the cautious outlook offered by some peers, highlighting Tech Mahindra’s ability to execute efficiently despite weak macroeconomic conditions. Analysts believe the company’s diversified client base and focus on AI-led services could help it outperform if technology spending gradually improves during the year.

The broader IT services industry continues to face uncertainty as clients remain focused on cost optimisation and carefully evaluate new technology investments. However, spending on AI, cybersecurity, cloud migration and digital engineering remains relatively resilient, creating opportunities for companies with strong capabilities in these areas.

Going forward, investors will closely watch whether Tech Mahindra can maintain its deal momentum, sustain margin improvement and convert its growing order book into stronger revenue growth. With healthy deal wins, improving operational efficiency and increasing demand for AI-powered services, the company appears better positioned to navigate the challenging global IT environment.

The Tech Mahindra Q1 results suggest that disciplined execution, stronger client engagement and investments in next-generation technologies are beginning to deliver results. While uncertainty in global technology spending persists, the company has entered FY27 with stronger fundamentals and renewed confidence in its growth strategy.

Also Read: Wipro Q1 profit flat at ₹3,352 cr, outlook weak

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Wipro Q1 profit flat at ₹3,352 cr, outlook weak

Wipro kicked off FY27 on a cautious note, reporting a largely unchanged first-quarter profit and issuing a subdued revenue outlook for the September quarter, underlining the continued pressure on the global information technology (IT) services industry.

The Bengaluru-headquartered IT major posted a consolidated net profit of ₹3,352 crore for the quarter ended June 30, almost flat compared with the corresponding period last year. Revenue from operations stood at ₹22,135 crore, while revenue from the IT services business declined 1.4% year-on-year to $2.6 billion, falling short of market expectations.

The company’s guidance for the second quarter also disappointed investors. Wipro expects IT services revenue in constant currency to range between a 1.5% decline and a marginal 0.5% growth sequentially, indicating that demand recovery remains slow as global clients continue to tighten technology budgets.

The earnings reflect a broader trend across the Indian IT sector, where enterprises are delaying discretionary technology spending amid persistent macroeconomic uncertainty. Many customers are prioritising cost optimisation over large-scale digital transformation programmes, resulting in longer decision-making cycles and slower project execution.

While announcing the results, Wipro’s management said the company remains focused on helping clients improve efficiency and adopt artificial intelligence (AI)-led solutions. However, executives acknowledged that clients continue to be cautious in committing to new spending, particularly for large transformation projects. Although interest in AI services is growing rapidly, many engagements are still in the evaluation stage and have yet to translate into meaningful revenue.

The company also reported a decline in deal momentum during the quarter. Total bookings stood at $3.37 billion, significantly lower than the corresponding period last year. Analysts said the fall in bookings indicates that large contracts are taking longer to close and that converting signed deals into revenue remains a challenge.

Despite weak revenue growth, Wipro managed to protect profitability through tight cost controls and operational efficiency measures. The company has continued to optimise utilisation levels, improve delivery productivity and maintain pricing discipline, helping it keep margins relatively stable despite a difficult demand environment.

Reflecting confidence in its balance sheet, Wipro’s board declared an interim dividend of ₹2 per equity share for shareholders.

The results were received cautiously by the market, with the company’s shares coming under pressure after the earnings announcement. Several brokerages revised their price targets, citing weaker-than-expected revenue performance and conservative guidance for the coming quarter. Analysts believe Wipro continues to face execution challenges even as peers such as TCS, HCLTech and Tech Mahindra have shown relatively better resilience in navigating the uncertain business environment.

Industry experts say the pace of recovery for IT companies will largely depend on improvements in client confidence, particularly in the US and Europe, which remain the largest markets for Indian software exporters. Interest in generative AI, cloud modernisation and cybersecurity continues to create long-term opportunities, but customers are seeking faster returns on investment before committing to major technology programmes.

For Wipro, the immediate focus is likely to remain on improving deal conversion, strengthening client relationships and expanding its AI-powered service offerings. The company has been investing in artificial intelligence capabilities and consulting services to capture emerging demand, even as traditional IT spending remains subdued.

The Wipro Q1 results reinforce the challenges facing the IT services industry, where profitability has remained relatively stable but revenue growth continues to be constrained by cautious enterprise spending. With management projecting another muted quarter ahead, investors will be closely watching whether improving demand for AI and digital transformation can help the company regain growth momentum in the second half of FY27.

For now, Wipro’s performance suggests that while the worst of the slowdown may be over, a broad-based recovery in the global technology spending cycle is yet to take hold.

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Sensex surges over 650 points, Nifty tops 24,200

Indian equity benchmarks staged a strong comeback on Friday, with the BSE Sensex soaring more than 650 points and the Nifty 50 reclaiming the 24,200 mark as investors cheered upbeat corporate earnings, sustained buying in banking stocks and renewed optimism in the information technology (IT) sector. However, losses in Wipro, Tech Mahindra and Tata Motors prevented an even sharper rally, highlighting the stock-specific nature of the ongoing earnings season.

The Sensex ended the session above the 79,400 level, while the Nifty comfortably traded above the crucial 24,200 mark. Market breadth remained positive, with advances outnumbering declines on the National Stock Exchange (NSE), reflecting improving investor confidence despite mixed global cues.

Leading the rally were heavyweight banking and financial stocks. HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank, State Bank of India, and Bajaj Finance attracted strong buying interest, providing significant support to the benchmark indices. Telecom major Bharti Airtel also traded firmly, while Infosys emerged as one of the biggest contributors to the day’s gains following its quarterly earnings announcement.

Infosys impressed investors after reporting better-than-expected financial results for the June quarter and raising its revenue growth guidance for FY27. The improved outlook strengthened confidence that large Indian IT companies continue to benefit from increasing demand for digital transformation, cloud services and artificial intelligence (AI)-led projects despite global macroeconomic uncertainties. The stock rallied sharply as investors welcomed the company’s positive commentary on client spending and deal momentum.

The rally in the Sensex and Nifty reflected investors’ preference for quality large-cap stocks during the ongoing earnings season. Analysts said strong results from market heavyweights are helping offset concerns over global uncertainty, with banking and select technology stocks providing stability to both benchmark indices.

In contrast, Wipro emerged as the biggest loser among frontline stocks after reporting a mixed set of June-quarter results. The company’s shares fell more than 3% after management issued a cautious outlook for the September quarter and several leading brokerages reduced their target prices.

Wipro reported a consolidated net profit of ₹3,352 crore, registering a modest 1% year-on-year increase, while revenue from operations rose 11% to ₹24,479 crore. Although the numbers were largely in line with expectations, investors were disappointed by the company’s weak revenue guidance. Wipro expects its IT services business to deliver between a 1.5% decline and 0.5% growth in constant currency during the September quarter, signalling continued softness in client spending.

The cautious outlook prompted brokerages such as Nomura, Nuvama and Motilal Oswal to lower their target prices on the stock. While most analysts retained their long-term positive stance due to Wipro’s investments in AI and digital capabilities, they warned that near-term revenue growth and margin expansion could remain under pressure amid delayed client decision-making and slower deal ramp-ups.

Apart from Wipro, Tech Mahindra also witnessed selling pressure as investors remained cautious ahead of its earnings, while Tata Motors declined following profit booking after recent gains. Select auto and metal stocks also traded lower, limiting the overall upside in the market.

Despite weakness in a few large-cap names, the Sensex and Nifty maintained their upward momentum as gains in financial and IT heavyweights outweighed losses in select auto and technology stocks. The broader market also remained resilient, with both the Nifty Midcap 100 and Nifty Smallcap 100 indices ending higher, indicating that buying interest extended beyond blue-chip companies. Mid-cap financials, capital goods, realty and consumer-focused stocks attracted fresh investments, reflecting improving risk appetite among domestic investors.

Sector-wise, Nifty Bank, Financial Services, IT and FMCG indices were among the top performers during the session. Banking stocks continued to benefit from expectations of healthy credit growth, stable asset quality and strong profitability, while select IT stocks gained on optimism surrounding AI-led technology spending.

Investor sentiment was also supported by sustained foreign institutional investor (FII) buying and expectations of robust corporate earnings during the June-quarter reporting season. Analysts believe improving domestic macroeconomic indicators, resilient consumption trends and continued government spending on infrastructure are providing a favourable backdrop for Indian equities.

Global cues remained mixed, with investors keeping a close watch on developments related to interest rates, crude oil prices and geopolitical tensions. However, India’s relatively strong economic fundamentals and consistent earnings growth have helped domestic markets outperform several global peers in recent months.

The experts are of the opinion that Friday’s trading session highlighted a clear distinction between companies delivering stronger earnings and those issuing cautious business outlooks. While Infosys was rewarded for its robust execution and improved guidance, Wipro faced selling pressure as investors reacted to its subdued growth forecast and brokerage target price cuts.

With the June-quarter earnings season gathering pace, analysts expect the Sensex and Nifty to remain driven by stock-specific movements rather than broad market trends. Companies delivering strong earnings and upbeat guidance are likely to outperform, while those reporting weaker growth outlooks could continue to face selling pressure. For now, the sharp gains in the Sensex and Nifty underline investors’ confidence in India’s long-term growth story, even as they remain watchful of global developments and upcoming corporate earnings.

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Sensex stays flat as Nifty defends 24,050

The market ended Thursday’s session on a muted note as investors balanced encouraging corporate earnings with lingering global uncertainties. While the market traded in a narrow range throughout the day, selective buying in technology stocks helped limit losses.

The BSE Sensex closed nearly unchanged at 77,187, while the NSE Nifty 50 ended marginally lower at 24,073. Investors remained cautious amid concerns over geopolitical tensions in the Middle East and their potential impact on crude oil prices and global markets.

Technology stocks emerged as the biggest winners of the session. Wipro, Tech Mahindra and other IT counters attracted fresh buying ahead of quarterly earnings, with investors expecting stable demand and positive business outlooks. Electronics manufacturer Dixon Technologies was among the top gainers after receiving government approval under the production-linked incentive (PLI) scheme for mobile and semiconductor manufacturing, boosting confidence in its long-term growth prospects.

On the losing side, financial stocks weighed on market sentiment. Bajaj Finance, Bajaj Finserv and several insurance companies witnessed selling pressure after disappointing earnings and concerns over margins. Weakness in these heavyweight stocks offset gains in the IT sector, keeping benchmark indices largely unchanged.

The broader market, however, remained under pressure, with both mid-cap and small-cap indices closing in the red. Investors preferred booking profits in high-beta stocks while shifting focus to quality large-cap companies ahead of more quarterly earnings announcements.

Global cues also kept traders on edge. Ongoing tensions in the Middle East continued to raise concerns about possible disruptions to crude oil supplies, prompting investors to adopt a wait-and-watch approach. Despite the uncertainty, domestic market resilience and steady institutional participation prevented any sharp decline.

Also Read: HDFC AMC falls 5% after Q1 results

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Swiggy, HPCL roll out LPG service

Swiggy Instamart has partnered with Hindustan Petroleum Corporation Ltd. (HPCL) to introduce India’s first on-demand LPG cylinder delivery service through a quick-commerce platform. The pilot project has been launched in Bengaluru, allowing customers to order 5kg and 10kg LPG cylinders for doorstep delivery in just a few clicks.

The service is aimed at making cooking gas more accessible, especially for households, students, working professionals and small businesses that need smaller LPG cylinders at short notice. Customers can place orders through the Swiggy Instamart app, just as they would for groceries or daily essentials.

The initiative marks a new step in India’s growing quick-commerce sector, which has expanded beyond groceries to include medicines, electronics and now cooking gas. By adding LPG cylinders to its offerings, Swiggy hopes to provide greater convenience to urban consumers who increasingly rely on app-based deliveries.

Initially, the service will be available only in selected parts of Bengaluru as part of a pilot programme. Based on customer response and operational performance, the companies may consider expanding it to other cities in the future.

HPCL said the partnership combines its fuel distribution network with Swiggy Instamart’s fast delivery infrastructure, making it easier for customers to access LPG cylinders when needed. The companies added that all deliveries will comply with safety guidelines and regulatory requirements.

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