LME approves Adani’s major copper smelter in India as listed brand
The London Metal Exchange has approved Adani Copper for delivery against its contracts, enabling warrant issuance from July 10. Produced by Adani Enterprises’ Kutch Copper unit in Gujarat, the facility has 500,000-tonne capacity. The move may boost India’s copper self-reliance and reduce import dependence amid steady domestic demand.
Knack Packaging IPO Day 3: Issue subscribed 83x at close; GMP signals 17% listing gain
Knack Packaging’s Rs 439.5-crore IPO was subscribed 73 times on the final day of bidding, led by strong demand from QIBs. The grey market premium (GMP) indicates a potential 17% listing gain. Brokerages Choice Broking and Anand Rathi have recommended subscribing to the issue for the long term.
Explained: Why Tesla shares crashed 7% to record worst single-day fall in 1 year despite record Q2 sales
Tesla shares plunged over 7% despite the EV maker reporting record second-quarter deliveries that beat Wall Street estimates. Analysts attributed the sell-off to profit booking after the stock’s recent rally, with investors now focusing on Tesla’s AI, robotaxi and self-driving ambitions for future growth.
Dabur Q1 updates: Co expects double-digit revenue growth as rural demand stays ahead of urban
Dabur India anticipates a significant boost in its first-quarter profit, driven by strategic price hikes that effectively countered rising inflation and packaging costs. The company noted resilient consumer sentiment despite global challenges, with sequential improvements in business performance. Strong double-digit growth is projected across key international markets like Egypt and Turkey, alongside robust expansion in […]
Sebi changes rules on unpaid client securities to ease broker operations
SEBI has revised rules for handling unpaid client securities, introducing auto-pledges in clients’ demat accounts, stricter timelines, daily pledge reviews and investor safeguards. The changes aim to align with direct payouts, improve operational efficiency and strengthen investor protection across stock broking.
Holiday Halt: S&P 500, Nasdaq to remain closed today for Independence Day holiday
US financial markets observed a closure on Friday, July 3, in commemoration of Independence Day, as the holiday fell on a Saturday. Trading in both equities and bonds resumed on Monday, July 6. This break allowed investors to digest recent employment data and Federal Reserve interest rate expectations.
Earnings growth to stay robust at 14–16%; IT correction a buying opportunity: Vikas Khemani
India’s IT sector is poised for a comeback, with AI expected to boost, not hinder, growth. Vikas Khemani of Carnelian Asset Management sees excessive pessimism, presenting an attractive long-term opportunity. He highlights that historical tech shifts expanded the industry. Stock selection is crucial, favoring early AI adopters. Khemani also remains constructive on financials, power, and […]
Sumitomo Chemical shares soar 11%, record biggest single-day surge in nearly 2 years. Here’s why
Sumitomo Chemical India shares surged around 11% as heavy volumes and a major development at its Japanese parent’s Korean subsidiary lifted sentiment. Dongwoo Fine-Chem’s joint venture with Samsung Electro-Mechanics for glass core substrates boosted optimism around next-generation semiconductor packaging demand. The stock hit a fresh high amid strong trading activity.
Muthoot Finance, Manappuram Finance, other stocks rise up to 5% as gold prices hit Rs 1.48 lakh/10 grams
Gold prices surged past Rs 1.48 lakh per 10 grams on Friday, propelling shares of gold financiers like Muthoot Finance and Manappuram Finance up by as much as 5%. This rally was triggered by weaker-than-expected US jobs data, which cooled inflation concerns and reduced expectations of an imminent interest rate hike by the US Federal […]
Nestle India declares special dividend of Rs 2. Check record date and other details
Nestle India, the maker of Maggi noodles, has announced a special dividend of Rs 2 per equity share, payable on July 30, 2026. This payout will be funded by retained earnings. The company also declared a final dividend of Rs 5 per share for FY26. The company had strong Q4 FY26 results, showing a 27% […]