Market News
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Stocks in news: HDFC Bank, Vedanta Power, YES Bank, Sun Pharma, Waaree Energies
Indian markets surged for a third straight day, buoyed by global sentiment and strong performance from heavyweight stocks like HDFC Bank and YES Bank. Analysts note a technical breakout, though resistance looms. Several companies, including Dabur India and Vedanta Power, reported positive quarterly updates, while Tata Power withdrew a controversial distribution application. ONGC's leadership eligibility criteria have also been broadened.
Investors rush to fund solutions for India's AI power crunch - The Economic Times
Investors rush to fund solutions for India's AI power crunchThe Economic Times
Tata Power backs off from distribution biz in Karnataka amid backlash
Tata Power has withdrawn its bid to enter Karnataka's electricity distribution network across half the state, following strong opposition from unions and the state government. The company informed the Karnataka Electricity Regulatory Commission of its decision, which comes after a cabinet resolution directing electricity supply companies to object to Tata's entry. This move aims to protect the existing public sector distribution model.
IPOs This Week: Kusumgar, Laser Power & Infra To Launch Mainboard Issues; Nine Listings Due
IPOs, Listings This Week
Upcoming IPOs: Kusumgar IPO, Laser Power & Infra IPO among new issues scheduled for next week; check list here
Kusumgar IPO and Laser Power & Infra IPO are among the mainboard IPOs to open next week, collectively raising over ₹1,392 crore. Meanwhile, in the small and medium enterprise (SME), Happy Steels IPO and Devson Catalyst IPO will collectively raise up to ₹67.34 crore.
India's power sector enters "value chain" reset led by transmission, storage and demand growth: Report
India's power sector is undergoing a overhaul, with transmission infrastructure and energy storage identified as key drivers for the next decade. Projections show installed capacity soaring to 900GW by FY32, supported by continued coal use and a surge in renewables. This expansion hinges on deploying increased energy storage to manage grid stability and meet rising demand from industries and new sectors.
Laser Power & Infra IPO to open on July 9; cuts issue size to ₹742 crore
Laser Power & Infra IPO comprises a fresh issue of equity shares worth ₹542 crore and an offer for sale (OFS) of shares aggregating up to ₹200 crore by promoter selling shareholders, according to the Red Herring Prospectus (RHP) filed by the company.
Laser Power & Infra's Rs 742-Crore IPO To Open On July 9
The company operates three manufacturing units in West Bengal and reported revenue of Rs 2,326 crore and net profit of Rs 151 crore in FY26.
Laser Power & Infra's ₹742 crore IPO to open for subscription on July 9
Kolkata-based Laser Power & Infra Ltd (LPIL), an integrated manufacturer of power cables, conductors and specialised products for the power transmission and distribution industry, will launch its Rs 742 crore initial public offering (IPO) on July 9. The issue will close on July 13, according to its red herring prospectus. The IPO comprises a fresh issue of equity shares worth Rs 542 crore and an offer for sale (OFS) of shares aggregating up to Rs 200 crore by promoter selling shareholders, according to filings. Net proceeds from the fresh issue will be utilised towards repayment or prepayment of borrowings amounting to Rs 490 crore and for general corporate purposes. LPIL operates three manufacturing units in West Bengal with a combined installed capacity of 85,448 MT. The company reported revenue of Rs 2,326 crore and net profit of Rs 151 crore in FY26. Its order book stood at Rs 3,243 crore as of March 31, 2026. The firm, which also has an EPC division, is a licensed stranding .
Quality Power arm Mehru Electrical wins Rs 16-cr orders from Hitachi Energy India
Quality Power Electrical Equipments said its material subsidiary, Mehru Electrical and Mechanical Engineers has secured multiple domestic orders worth approximately Rs 15.70 crore from Hitachi Energy India.
Vedanta among top 5 stocks with lowest price-to-earnings ratio. Check details
Repco Home Finance, LIC Housing Finance, Power Finance Corporation, Vedanta and The Great Eastern Shipping feature among the cheapest stocks by price-to-earnings ratio. Most are widely held by mutual funds and carry strong Value Research ratings.
FMCG, healthcare in line for strong show in FY27: Brickworks
India's consumer goods and healthcare sectors are poised for robust growth this fiscal year, driven by tax relief, increasing consumer spending, and a booming medical tourism industry. Brickwork Ratings anticipates a significant revenue jump for consumer goods, while healthcare benefits from strong financial health and government initiatives. Most sectors show a stable outlook, with power distribution being the sole exception due to persistent debt issues.