Category: Corporate

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Corporate

S&P raises Airtel rating on strong India, Africa growth

Bharti Airtel has received a major vote of confidence from global ratings agency S&P Global Ratings, which upgraded the telecom giant’s long-term issuer credit rating to BBB from BBB-. The upgrade reflects Airtel’s strong business performance, improving financial position and sustained growth across its key markets in India and Africa.

S&P said the rating revision was driven by Airtel’s consistent revenue growth, expanding customer base and strengthening cash flows. The agency noted that the company has successfully improved its profitability while maintaining a strong competitive position in the telecommunications sector.

Airtel’s India business continues to benefit from rising demand for mobile data services, increasing smartphone penetration and higher average revenue per user (ARPU). The company has also strengthened its presence in the fast-growing 5G segment, helping it attract and retain subscribers in an increasingly competitive market.

The ratings agency highlighted Airtel Africa as another important contributor to the company’s growth story. Operations across several African countries have delivered steady revenue gains and improved earnings, providing geographical diversification and reducing dependence on a single market.

According to S&P, Airtel’s financial metrics have improved significantly in recent years. Strong operating performance, disciplined capital spending and effective debt management have helped the company strengthen its balance sheet. The agency expects Airtel to maintain healthy cash generation and continue reducing leverage over the medium term.

The upgrade places Airtel firmly within investment-grade territory and could help lower borrowing costs in future fund-raising efforts. It also signals confidence in the company’s ability to navigate market challenges while sustaining growth.

For investors, the upgrade is seen as a positive indicator of Airtel’s financial health and long-term prospects. It comes at a time when the telecom industry is undergoing rapid transformation, driven by technological advances and changing consumer behaviour.

As Airtel continues to expand across India and Africa, the S&P upgrade underscores growing confidence in the company’s strategy, operational strength and ability to deliver sustainable growth in two of the world’s most dynamic telecommunications markets.

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Sensex up by 100 points, Nifty closes above 24,050

Markets ended Thursday on a firm note, with the BSE Sensex closing 109 points higher and the NSE Nifty finishing above the 24,050 mark as investors continued to buy into heavyweight stocks.

The benchmark indices moved higher through the session, supported by gains in banking, financial and information technology shares. The broader mood on Dalal Street remained positive as traders reacted to supportive global cues and easing concerns over recent geopolitical tensions.

Market participants said sentiment improved after signs of stability in overseas markets and steady foreign investor interest. Positive trends across Asian markets also helped lift confidence, while strong buying in blue-chip names such as HDFC Bank, ICICI Bank, Infosys and TCS kept the indices in the green. Among the top gainers, banking and IT counters led the charge, while select FMCG and auto stocks, including Hindustan Unilever, ITC and Maruti Suzuki, were among the laggards.

Banking stocks were among the biggest contributors to the rally, with investors betting on healthy credit growth and a steady domestic economy. Financial and IT shares also saw sustained demand, helping the market hold on to gains despite some intraday volatility. On the other hand, profit-booking in a few consumer and automobile names kept the upside in check.

Even so, experts cautioned that global growth worries and trade-related uncertainties have not gone away. They said markets may remain volatile in the near term, but the broader trend still looks constructive as long as economic indicators stay supportive.

For investors, Thursday’s close offered another sign of resilience in Indian equities after a period of uneven trading earlier this year. Many are now watching whether the benchmark indices can build on this momentum and move closer to fresh highs in the coming weeks.

The rupee traded in a stable range, while crude oil prices and global bond yields remained on traders’ radar. Attention now shifts to upcoming economic data and corporate earnings, which are likely to guide market direction in the days ahead.

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Adani targets 10 GW nuclear capacity by 2035

The Adani Group has unveiled one of its most ambitious energy expansion plans yet, betting heavily on nuclear power while committing trillions of rupees to strengthen its position across India’s fast-growing energy sector.

Addressing shareholders at the group’s Annual General Meeting (AGM), Chairman Gautam Adani laid out a roadmap that reflects the scale of India’s future electricity needs. At the centre of the plan is a target to build 10 gigawatts (GW) of nuclear power capacity by 2035, signalling the conglomerate’s intention to become a major player in a segment that has traditionally been dominated by the public sector.

The announcement comes as India seeks to balance rapid economic growth with the need for cleaner and more reliable energy sources. According to Adani, the country’s rising population, expanding cities and accelerating industrialisation will significantly increase electricity demand over the coming decades, requiring investments across multiple power technologies.

To support this vision, Adani Power plans to invest more than ₹2 trillion over the next five years. The company aims to increase its total power generation capacity to 45 GW, strengthening its standing among India’s largest private electricity producers.

While renewable energy remains a key pillar of the group’s strategy, Adani indicated that conventional thermal power will continue to play an important role in ensuring energy security. The company intends to maintain a diversified energy portfolio that combines thermal, renewable and nuclear power generation.

Beyond electricity production, the group is expanding across the broader energy ecosystem. Gautam Adani highlighted investments in solar manufacturing, power transmission infrastructure, green hydrogen projects and renewable energy developments. The objective, he said, is to create an integrated energy platform capable of supporting India’s long-term growth ambitions.

The nuclear power target is particularly significant because India is increasingly exploring low-carbon energy sources that can provide stable electricity around the clock. Unlike solar and wind power, nuclear plants can generate power continuously, making them an important complement to renewable energy.

Although regulatory clearances and government policy support will be critical for the proposed nuclear programme, the message from the Adani Group was clear: it sees India’s energy demand growing rapidly in the years ahead and wants to be at the forefront of meeting that demand. With major investments planned across multiple sectors, the group is positioning itself for what it believes will be the next phase of India’s energy transformation.

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Sensex jumps 500 points, Nifty crosses 24,150

Indian equities extended their rally on Thursday, with the Sensex rising more than 500 points and the Nifty 50 moving firmly above 24,150 as softer crude prices and better global cues lifted sentiment across Dalal Street.

The biggest support came from a sharp drop in oil prices. Brent crude slipped below $73 a barrel after fears of supply disruption in the Middle East eased and shipping through the Strait of Hormuz returned closer to normal. For India, a major oil importer, that is welcome news because lower crude usually helps cool inflation, supports the rupee and eases pressure on the fiscal deficit.

Buying was visible across banking and information technology stocks, which continued to lead the market higher. LIC, IRFC, Infosys and HDFC Bank were among the names that drew strong interest, while Hindustan Unilever, Nestle India and Sun Pharma were among the laggards as investors rotated into cyclical and rate-sensitive counters.

Traders also took comfort from a stronger tone across Asian markets and hopes that global trade talks may make progress. The mood improved further as worries around the Iran-related conflict faded, reducing the risk premium that had recently weighed on equities and commodities.

If crude stays calm and overseas selling pressure continues to ease, domestic equities could keep their upward bias.

Also Read: IRFC shares tumble 5% after Centre announces stake sale

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IRFC shares tumble 5% after Centre announces stake sale

Shares of Indian Railway Finance Corporation (IRFC) fell sharply on Wednesday after the government announced plans to sell up to a 2% stake in the state-owned railway financier through an Offer for Sale (OFS).

The Centre has offered an initial 1% stake, with an option to sell another 1% if demand remains strong. The floor price has been fixed at ₹91 per share, nearly 8% below the stock’s previous closing price, making the offer attractive for institutional and retail investors.

The proposed divestment is expected to help the government raise more than ₹2,300 crore. The OFS opened for non-retail investors on Wednesday, while retail investors will be able to bid on the following day.

Following the announcement, IRFC shares dropped around 5% during trade as investors reacted to the discounted pricing and the increased supply of shares in the market. Analysts said such stake sales often create short-term pressure on stock prices, although they can improve liquidity and broaden the shareholder base over the long run.

IRFC plays a crucial role in financing Indian Railways’ expansion and infrastructure projects. As the dedicated financing arm of the national transporter, the company raises funds from domestic and international markets to support railway development across the country.

Market experts said investor response to the OFS will be closely monitored, especially given the strong interest in railway and public sector stocks over the past year. While the discounted offer may attract buyers, near-term sentiment could remain cautious until the share sale process is completed.

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Sensex surges 790 points, Nifty closes above 24,000

The markets staged a strong comeback on Wednesday, with the Sensex soaring nearly 791 points and the Nifty closing above the crucial 24,000 mark as easing geopolitical concerns, falling crude oil prices and renewed buying in banking stocks boosted investor sentiment.

The BSE Sensex ended the day at 76,991.22, up 790.54 points or 1.04%, while the NSE Nifty50 gained 197.55 points, or 0.83%, to settle at 24,021.65. The rally came after recent uncertainty linked to developments in the Middle East and reflected improving confidence among domestic and foreign investors.

Banking stocks emerged as the biggest drivers of the market’s advance. HDFC Bank and ICICI Bank rose around 2.5% each, helping lift benchmark indices. Investors welcomed comments from Reserve Bank of India Governor Sanjay Malhotra, who indicated that discussions around interest rate hikes were premature as broad inflation pressures remain under control.

Lower crude oil prices also supported market sentiment. Oil prices have declined sharply since signs of easing tensions between the United States and Iran, reducing concerns about inflation and import costs for India. Expectations of progress in India-US trade discussions further added to the positive mood on Dalal Street.

Among the day’s top gainers were HDFC Bank, ICICI Bank, Trent and several information technology stocks including Infosys and Tech Mahindra. Textile shares also witnessed strong buying interest on hopes of stronger export demand.

On the losing side, Vedanta remained under pressure after a major promoter stake sale through a block deal worth more than ₹2,100 crore. Some energy-related stocks also saw limited gains as investors assessed the impact of softer commodity prices.

Broader markets also participated in the rally, with mid-cap and small-cap indices ending higher. Analysts said improving foreign fund flows, easing oil prices and supportive central bank commentary helped drive the recovery.

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Vedanta promoter trims stake through ₹2,149 cr block deal

Vedanta shares came under pressure after promoter entity Twin Star Holdings sold a stake worth about ₹2,149 crore through a large block deal, triggering a sharp decline in the mining and metals company’s stock price. The transaction has attracted significant market attention as investors evaluate its impact on promoter ownership and the group’s broader financial strategy.

According to exchange data, around 7.3 crore shares, representing nearly 1.8% of Vedanta’s equity, changed hands through block transactions at ₹292 per share. The deal was valued at approximately ₹2,149 crore and was widely expected by market participants after reports emerged that Twin Star Holdings planned to reduce its stake.

Following the transaction, Vedanta shares fell sharply during trading, at one point dropping nearly 9% before recovering some losses. The decline reflected investor concerns over the large-scale promoter stake sale and the possibility of further share sales in the future.

Sources familiar with the matter indicated that the proceeds from the stake sale may be used to reduce debt at parent company Vedanta Resources. The group has been actively pursuing deleveraging efforts while advancing its restructuring plans following the recent demerger of several business units.

Despite the sharp fall in the stock, analysts said the transaction does not directly affect Vedanta’s operational performance. The company continues to maintain a diversified portfolio spanning metals, mining, oil and gas, and power businesses. However, investors are likely to keep a close watch on promoter actions and any additional stake sales that may emerge in the coming months.

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Sensex rallies over 650 points, Nifty tops 24,000

Markets staged a strong comeback on Wednesday, with the Sensex rallying more than 650 points and the Nifty crossing the 24,000 mark after a sharp selloff in the previous session. The rebound came as lower crude oil prices, steady buying in banking stocks and improved risk appetite helped lift investor sentiment.

The recovery followed Tuesday’s steep decline, which had erased nearly ₹5.8 lakh crore in market value amid weak global cues, foreign fund outflows and heavy selling in IT counters. On Wednesday, however, buyers returned to the market, helping benchmark indices recover a large part of the lost ground.

A key support for the market was the continued softness in global crude prices. With supply concerns easing and more oil shipments moving through the Strait of Hormuz, crude hovered near four-month lows. That brought relief to India, which depends heavily on imported oil, and eased worries about inflation and the current account deficit.

Banking stocks led the rally, while auto and metal shares also saw healthy buying. On the other hand, IT and FMCG stocks remained under pressure, making them the main laggards in an otherwise upbeat session. Investors also kept an eye on stock-specific moves in names such as Vedanta, Honasa Consumer, IRCTC, Tata Motors and Bajaj Auto.

Bajaj Auto, however, stayed in focus for the wrong reasons after the company disclosed a ransomware attack affecting both the firm and its technology subsidiary. The development weighed on the stock even as the broader market recovered.

The rupee slipped slightly against the US dollar despite the fall in crude prices, reflecting caution among traders and a stronger greenback globally. Market participants also continued to track signals from the US Federal Reserve, where expectations of further rate hikes have kept global markets on edge.

Also Read: Renault begins exporting India-made Duster to South Africa

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Sensex drops 800 points, Nifty closes below 23,850

Markets witnessed a sharp sell-off on Tuesday, with the benchmark Sensex plunging nearly 900 points and the Nifty slipping below the 24,000 mark as investors rushed to book profits amid weak economic data and concerns over global interest rates.

The BSE Sensex closed around 76,200, down 1.16%, while the NSE Nifty 50 fell by a similar margin. The decline came after a strong rally in recent sessions and was led largely by information technology and metal stocks.

Among the biggest losers were Infosys, Tata Consultancy Services (TCS), Wipro and HCL Technologies, as concerns over slowing global technology spending and expectations of higher-for-longer US interest rates weighed on sentiment. The Nifty IT index dropped more than 2%, making it the worst-performing sector of the day.

Metal stocks also came under pressure as global commodity prices weakened. Investors were further unsettled by data showing India’s private-sector growth slowing to a three-month low in June, with services activity touching a 17-month low. Concerns over an uneven monsoon also added to market nervousness.

Not all sectors ended in the red. Pharmaceutical stocks emerged as safe havens, with Sun Pharma, Cipla and Dr Reddy’s Laboratories attracting buying interest. The pharma index outperformed the broader market as investors shifted towards defensive sectors amid uncertainty.

Market experts said profit-booking after the recent rally, foreign investor caution and worries over the US Federal Reserve’s policy outlook combined to trigger the broad-based decline. A stronger US dollar and weakness across Asian markets further dampened sentiment.

Despite the sharp fall, analysts believe domestic market fundamentals remain relatively resilient. However, investors are expected to closely track upcoming economic data, monsoon progress and global central bank signals for direction in the coming weeks. For now, Tuesday’s session served as a reminder that market optimism can quickly give way to caution when economic and global uncertainties resurface.

Also Read: Renault begins exporting India-made Duster to South Africa

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Renault begins exporting India-made Duster to South Africa

Renault India has begun exporting the locally manufactured Duster SUV, with the first shipment leaving for South Africa in a significant boost to the country’s automotive manufacturing ambitions.

The export programme marks an important milestone for Renault’s operations in India, reinforcing the country’s position as a key production and export hub within the French automaker’s global network. The vehicles are being produced at Renault Nissan Automotive India’s manufacturing facility in Chennai, Tamil Nadu.

The new-generation Duster has already generated strong interest in international markets, and South Africa has become the first destination to receive the India-made SUV. Renault plans to expand exports to additional countries in the coming months as part of its broader strategy to leverage India’s manufacturing capabilities.

For Renault, the move highlights confidence in the quality, competitiveness and efficiency of its Indian operations. The company has been steadily increasing its focus on exports, using India as a base to serve markets across Africa, the Middle East and other regions.

Industry experts view the development as another sign of India’s growing importance in the global automotive supply chain. Over the past decade, several automakers have turned the country into an export hub due to its skilled workforce, strong supplier ecosystem and cost-effective manufacturing base.

The Duster has long been one of Renault’s most recognised SUV brands globally. By exporting the latest version from India, the company hopes to strengthen its presence in overseas markets while supporting production volumes at its Chennai facility.

The launch also comes at a time when Indian automobile exports are gaining momentum, helped by rising global demand and increasing localisation of vehicle manufacturing. For workers, suppliers and logistics partners connected to Renault’s operations, the export initiative could create additional business opportunities as overseas shipments scale up.

For customers in South Africa, the arrival of the India-made Duster offers access to Renault’s latest SUV offering. For India, the first export shipment is another reminder of how the country’s automotive sector is increasingly moving beyond domestic demand and playing a larger role in supplying vehicles to global markets.

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