Market News

ADB trims India's growth projection to 6.6% reflecting elevated energy prices

Asian Development Bank on Thursday lowered India's GDP growth projection to 6.6 per cent as against 6.9 per cent estimated earlier for the current fiscal on concerns of higher energy prices fuelled by the Middle East crisis. Despite the growth moderation, India still continues to be the fastest-growing major economy in the world, ADB said. India's GDP growth forecasts are revised down to 6.6 per cent for FY2026 (ending 31 March 2027) and maintained at 7.3 per cent for FY2027, Asian Development Outlook (ADO) July 2026 said. Growth will be supported by policy interventions to attract more foreign capital, as well as fuel tax cuts, targeted credit support, strong services exports, and public capital expenditure. The FY2027 growth forecast remains unchanged from April, underpinned by improved global conditions and export competitiveness gained through trade agreements with various partners. However, risks tilt to the downside driven by heightened geopolitical tensions, or weather-induced

Ashika Global Securities to acquire 26% stake in Resurgent India Rating

Stocks in news: Hero MotoCorp, Canara Bank, Bharti Airtel, Indian Hotels, SBI

Indian markets opened positively, with analysts suggesting a stock-specific strategy amidst consolidation. Hero MotoCorp sees a revival in commuter bike demand, planning capacity expansion. Canara Bank and Indian Bank reported strong credit growth. Bharti Airtel's NBFC arm has begun operations, while Indian Hotels plans significant capital expenditure. SBI launched AI-powered innovations, and BPCL is acquiring a stake in a Brazilian oil venture.

Kotak Institutional removes ABB India, Siemens, Cummins India from model portfolio

Kotak Institutional Equities' Sanjeev Prasad prefers private banks over IT and expensive industrial stocks, citing attractive valuations, stable credit growth and the potential for re-rating. He warned that AI-driven pricing pressure makes it difficult to value IT companies and said investors should avoid chasing richly valued capital goods and electrification stocks despite strong long-term themes. Healthcare, hospitality, retail and telecom remain among his preferred sectors.

Bad loans may edge up to 1.9% by FY28 despite resilient banks: RBI

Indian banks are projected to see a slight increase in bad loans to 1.9% by March 2028, yet the system remains robust with strong capital and healthy profits. The Reserve Bank of India's report highlights resilient balance sheets and improving credit growth. Despite global uncertainties, the financial sector, including NBFCs, is well-positioned to absorb shocks, though AI cyber threats demand increased vigilance.

Ashika Global Securities allots 2 lakh equity shares on conversion of warrants

Further, as per terms and conditions of issue of warrants, the upfront amount of 25% of issue price paid by allottee, w.r.t. 16,00,000 equity convertible warrants have been forfeited by the company due to non exercise of warrants /non-receipt of 75% of subscription amount within the warrants exercise period i.e. within 18 months from date of allotment. i.e. 26 December 2024.

Explained - Why Jefferies prefers Bajaj Finance, Aditya Birla Capital over other NBFCs

Jefferies expects the sector to deliver healthy loan growth, easing credit costs and largely range-bound NIMs. While valuations have recovered from the lows seen during the recent geopolitical tensions, they remain broadly around long-term averages.

RBI cancels licence of Karnataka-based Shree Mahalaxmi Urban Co-operative Credit Bank

The Reserve Bank of India has cancelled the banking license of Karnataka-based Shree Mahalaxmi Urban Co-operative Credit Bank due to its deteriorating financial condition. The bank's inability to meet its obligations and its lack of adequate capital and earning prospects led to this decision. Approximately 97.9% of depositors are expected to receive their full deposit amounts from DICGC upon liquidation.

Nifty at 25,000 could be a profit-booking opportunity: Rahul Arora

Rahul Arora, CEO of Ashika Institutional Equities remains selective on consumer stocks, favouring Britannia, Tata Consumer and Nestle, while preferring Eternal over Swiggy in the internet space due to stronger growth prospects and lower losses.

Sammaan Capital receives upgrade in LT credit rating from S&P Global Ratings

S&P Global Ratings has upgraded Sammaan Capital's long-term [International] credit rating to BB-' with Stable Outlook.

Indian banks more exposed to West Asia crisis among APAC region: Moody's

Indian banks face significant exposure due to energy import reliance. Higher fuel costs will strain consumers and businesses, increasing credit stress. Non-bank lenders with unsecured retail loans are particularly vulnerable. Despite these pressures, Indian banks possess strong capital buffers.

As India grows richer, banks will have to adjust to thinner margins: Indian Bank CEO

Indian Bank's chief Binod Kumar expects interest rates to rise and net interest margins to fall as India develops. He plans to raise capital for Expected Credit Loss norms and launch a wealth management business. The bank aims for strong growth in retail and MSME loans. Consolidation could help Indian banks achieve global scale.