Market News

HDFC Bank shares down 7.4% in 2 days after chairman Chakraborty's exit

Stock declines amid governance concerns after chairman's exit; brokerages say clarity on CEO reappointment and leadership stability may help restore investor confidence

Indian asset managers dump government bonds at record pace on oil shock

Mutual funds have net sold government bonds worth 356 billion rupees ($3.82 billion) so far this month, a record for any month, clearing house data showed

Rupee crashes 82 paise to record low of 93.71 against US dollar

The rupee crashed 82 paise, or nearly 1 per cent, to settle at an all-time low of 93.71 (provisional) against the US dollar on Friday, weighed down by persistent foreign fund outflows and a steep rise in crude oil prices amid mounting geopolitical tensions. Forex traders said the Indian rupee is under tremendous pressure as surging crude oil prices and a shift toward risk-aversion dented investor sentiments. Moreover, heightened geopolitical uncertainty risks are driving energy costs higher, which could widen the trade deficit and stoke inflationary pressures, they added. At the interbank foreign exchange, the local unit opened at 92.92 against the greenback and soon breached the 93-mark for the first time. It kept losing ground through the session and eventually settled at 93.71 (provisional), down 82 paise from its previous close. On Wednesday, the rupee slumped 49 paise to close at its previous record low of 92.89 against the US dollar. Forex markets were closed on Thursday on

Power infrastructure firm Polite Powertech files draft IPO papers with Sebi

Integrated power infrastructure EPC company Polite Powertech Ltd has filed its Draft Red Herring Prospectus (DRHP) with market regulator SEBI to raise funds through an Initial Public Offering (IPO). The IPO comprises a fresh issue of 1 crore equity shares and an offer for sale of 25 lakh equity shares. Proceeds from the issue will be utilised for funding working capital requirements of the company and general corporate purposes. Polite Powertech is an integrated power infrastructure engineering, procurement, and construction (EPC) company, engaged in the design, supply, installation, testing, and commissioning of power transmission, distribution, and renewable energy projects. The company reported a revenue from operations increasing sharply from nil in FY2023 to Rs 24.65 crore in FY2024 to Rs 155.63 crore in FY2025, and further reaching Rs 97.32 crore in H1 FY26. Arihant Capital Markets Limited and Valmiki Leela Capital Private Limited are the book-running lead managers (BRLMs) t

Gold falls 2.7% to over 1-month low on strong dollar, hawkish Fed tone

Central banks in the US, Canada and Japan struck hawkish tones this week, wary that rising energy prices could spark a fresh wave of inflation

Despite headwinds, air-conditioner growth to remain healthy this summer

Strong summer demand, low base and inventory push to support AC growth despite price hikes, raw material inflation and evolving energy efficiency norms

US, global central banks hold rates, warn of war-led inflation risks

Earlier this week the Reserve Bank of Australia hiked rates to a 10-month high and warned of a "material" risk to inflation from the oil price spike

SBI Funds Management files for IPO; SBI, Amundi to sell 203.7 mn shares

Existing ‌investors State Bank of India and Amundi will sell ​203.7 million shares through ‌the "offer ​for ‌sale" route. SBI Funds ‌will not ‌issue new ​shares ​in the IPO

Swan Defence drops after OFS concludes

Swan Defence shares hit lower circuit after promoter Hazel Infra's discounted OFS, even as subscription demand stayed firm across investor categories

Market correction offers tremendous opportunity for FPIs, says Sebi

Equity market corrections following the Middle East conflict present a "tremendous opportunity" for foreign portfolio investors to up their bets in India, a senior Sebi official said on Thursday. Kamlesh Chandra Varshney, a whole-time member at the capital markets regulator, said the Indian capital market is "quite attractive" now and presents a good opportunity to investors registered as FPIs. "There is a tremendous opportunity to invest in the Indian equity market with the kind of direction which has taken place now in the last few months, particularly after the war that has broken out," he said, speaking at a Russia-India forum for integration of capital markets here. FPIs continue to be net sellers in the Indian markets in FY26, and in the first 12 days of March alone, there has been a sell-off of over Rs 77,000 crore by them, as per reports. Speaking at the event, Varshney assured all help to facilitate Russian investments into the country and also proposed setting up working

Accuracap Prime Fund, others pay ₹21.75 lakh to settle AIF case with Sebi

Accuracap Prime Opportunities Fund, its manager Accuracap Technologies LLP, and four officials have settled an AIF norms violation case with markets regulator Sebi, after paying Rs 21.75 lakh under the settlement mechanism. The four officials who opted for settlement are Naresh Chand Gupta, Raman Nagpal, Prateek Gupta and Divya Singha. In its order passed on Tuesday, Sebi said the proceedings initiated through summary settlement notices have been disposed of in terms of the Settlement Regulations. The case stems from Sebi's examination of quarterly filings of Accuracap Vectra Fund, a scheme under Accuracap Prime Opportunities Fund, for FY24. The regulator found that the scheme failed to maintain the minimum required corpus of Rs 20 crore and did not restore it within three months of the breach. Despite this, the fund neither redeemed investor units nor wound up the scheme. Additionally, the Alternative Investment Fund (AIF) was found to have exceeded the maximum permissible invest

Equity mutual fund investors hold steady despite market correction

Equity mutual fund investors remain resilient amid market volatility, with AUM trends indicating sustained inflows and steady participation despite correction in equities

Market correction: Build watchlist, buy quality stocks at target prices

Do not exit in panic or buy falling stocks without reassessing fundamentals; instead, build a watchlist and invest gradually with a disciplined, long-term approach

Rupee hits record low at 92.63 as oil prices surge, capital outflows rise

The rupee closed at 92.63 per dollar, eclipsing its previous lifetime low of 92.4750 hit last week

Reliance Jio hires 17 banks for IPO, plans no fresh fundraise: Report

The IPO will be executed as a so-called "offer for sale" in India, three of the sources said, where only existing shareholders sell their shareholding to public

Cement sector likely to witness margin squeeze once inventories run out

Rising fuel costs amid geopolitical tensions may pressure cement sector margins, with the impact expected to intensify once existing inventories are exhausted

Sebi proposes easing nomination norms for demat accounts, MF folios

Markets regulator Sebi proposes making nomination default for demat and mutual fund accounts, simplifying compliance norms and streamlining nominee requirements for investors

Iran war: OIS curve surges as crude oil rally fuels repo-rate hike bets

Sharp rise in OIS rates suggests markets are pricing in possible RBI rate hikes this year if elevated crude oil prices sustain inflationary pressures

Sensex, Nifty get a breather; broader markets remain under pressure

Benchmark indices rose over 1% after last week's steep fall, led by HDFC Bank, ICICI Bank and Reliance Industries, but broader markets stayed weak amid rising crude prices and global tensions

No material impact from Iran war on Hind Copper, may rally 23%: Anand Rathi

Geopolitical tensions may raise freight costs due to higher crude prices, which could affect margins as power, fuel and water account for about 7 per cent of revenue