Market News

HDFC Bank MD: Chakraborty's abrupt exit a 'challenging event' that raised governance questions

HDFC Bank MD Sashidhar Jagdishan addressed chairman Atanu Chakraborty's resignation and governance questions. External law firms reviewed Chakraborty's statement, finding it unsubstantiated by records and interviews. The bank welcomed new chairman Rajiv Kumar, noting his financial sector reform experience. Jagdishan assured shareholders of the bank's commitment to strong corporate governance standards. HDFC Bank continued its upward performance with increased advances and profitability.

DMart Q1 results: Cons PAT up 11% to Rs 860 crore, revenue rises to Rs 18,795 crore

Avenue Supermarts reported an 11.3% net profit increase for the June quarter. The company's revenue from operations also saw a 14.9% year-on-year rise. EBITDA grew by 15.4% compared to the same period last year. The retailer's EBITDA margin showed a slight improvement to 8%. These financial results reflect the company's performance in the recent past.

Fedbank Financial Services allots 54,650 equity shares under ESOS

Banks remain top sector bet, see value in IT at current valuations: UTI AMC's Vetri Subramanian

UTI AMC CEO Vetri Subramanian said banking and financial stocks remain his highest-conviction investment idea as favourable valuations, healthy balance sheets and sustained credit growth could support earnings growth and a valuation re-rating. He also said current IT valuations justify staying invested, with AI integration likely to create opportunities for Indian technology companies, while urging caution on sectors trading at elevated valuations such as defence.

NITI Aayog convenes stakeholder consultation on implementation of SHANTI Act 2025

NITI Aayog convened a stakeholder consultation on the SHANTI Act 2025, with discussions focusing on legislative and regulatory frameworks for the landmark Act. Financial mechanisms and public perception were also key areas of deliberation.

Trai pushes back on spam tag for 1600, 140 numbers

Trai clarified that tagging and blocking calls from 1600 and 140 series numbers is not allowed. Subscribers can manage promotional calls from registered telemarketers using the Do Not Disturb registry. The 1600 series numbers are designated for service and transactional calls by financial sector entities. This clarification follows Truecaller's statement about not marking such calls as spam. Spam calls from these number series have reportedly surged significantly.

L&T Finance Q1 profit rises 29% to record high on strong retail book growth

L&T Finance reported its highest-ever quarterly profit in the June quarter, driven by robust retail loan growth, higher disbursements and improved asset quality, while the lender continued to accelerate its transition into an AI-native financial institution.

Reliance Industries, Jio Financial announce Q1 earnings dates. Check details

Reliance Industries and Jio Financial Services will report their June-quarter earnings next week. Reliance Industries' board meets Friday, July 17, 2026, for financial results. Jio Financial Services will announce its first-quarter results on Thursday, July 16, 2026. Investors will monitor updates on key businesses and financial services plans. These announcements come as the broader market enters the results season.

Mumbai Metro One restructures debt with NARCL, avoids insolvency

Mumbai Metro One Private Limited has successfully restructured its debt, avoiding insolvency. The company signed a Master Restructuring Agreement with NARCL for Rs 2,771.32 crore. This agreement strengthens the financial position of the metro operator. NARCL will now nominate a director to the company's board. A monitoring committee will oversee the restructuring implementation process.

Policybazaar ropes in Amitabh Bachchan for insurance awareness movement

Policybazaar has appointed veteran actor Amitabh Bachchan as its brand ambassador. This move initiates a significant movement for health and term insurance awareness nationwide. The initiative aligns with IRDAI's vision of providing insurance for all Indians by 2047. Bachchan's established image of trust will encourage families to prioritize financial protection. This campaign aims to secure the future of over 140 crore Indians.

RBI is right to act on digital payment fraud. But some safeguards need sharper design

Cyber fraud complaints and losses are increasing significantly in India's digital payment system. The Reserve Bank of India has proposed new safeguards to address these growing concerns. A one-hour lag on large transactions aims to reduce financial losses from fraud. Additional authentication for vulnerable users and scrutiny of mule accounts are also suggested. Customer-induced controls and a kill switch offer users more transaction management capabilities.

Swiggy resolves FSSAI licence issue linked to subsidiary Toing; says no food safety risk

Swiggy said it has resolved an FSSAI licence-related issue concerning its food ordering and delivery platform Toing after updating licence particulars. The company clarified the matter involved no food safety concerns, received a modified FSSAI licence on July 9, and said no monetary penalty has been imposed or major financial impact is expected.