Market News
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Churn at private banks' finance function, 2 CFOs quit
A significant reshuffle is underway in the finance departments of major Indian banks. Axis Bank and Bandhan Bank have seen their Chief Financial Officers resign, sparking speculation about future leadership. This follows another high-profile departure from HDFC Bank. Industry insiders suggest a potential move for one CFO to HDFC Bank, while another might step into the Axis Bank role, creating an unusual churn ahead of financial results.
Future growth will depend on governance quality in public, private institutions: HDFC's Parekh
India's future prosperity hinges on robust governance across public and private sectors, emphasized HDFC Bank Chairman Deepak Parekh. He highlighted that ongoing reforms are building a strong foundation for growth, with a call for further banking sector consolidation. Parekh also stressed the immense funding needs for domestic capacity building and the crucial role of self-reliance in a shifting global landscape.
Nasdaq jumps over 1% as investors return to tech stocks
The Nasdaq led gains at the open as investors returned to technology stocks amid easing geopolitical tensions. Focus now shifts to the June nonfarm payrolls report, a key gauge for future Fed policy.
TVS Motor looking ahead with 'measured optimism': CMD Sudarshan Venu
TVS Motor Company anticipates a complex yet exciting future, aiming to meet market expectations in India despite potential weather disruptions. The company achieved a record year in FY25-26, selling 5.89 million units and becoming the world's third-largest two-wheeler maker. With a strong focus on R&D and generative AI, TVS is investing heavily in electrification and connected technologies, solidifying its leadership in the growing electric two-wheeler segment.
Technology to be central to Hindustan Zinc's next phase of growth: Chairperson
Hindustan Zinc is pivoting towards becoming a future-ready energy transition company, Chairperson Priya Agarwal Hebbar announced. The firm is significantly investing in technology like AI and automation to boost productivity and safety. Diversifying beyond zinc, the company is exploring critical minerals such as lithium and rare earth elements, essential for the growing electric vehicle market and India's industrial expansion. This strategic shift, dubbed Hindustan Zinc 2.
Axis Bank CFO Puneet Sharma resigns to pursue new opportunities
Axis Bank's Chief Financial Officer, Puneet Sharma, has resigned to pursue new professional opportunities. Sharma, who has been with the bank since March 2020, will step down on August 31. He previously held significant roles at Tata Capital and Citibank. The bank expressed gratitude for his contributions and wished him well for the future.
Oberoi Realty launches ultra-luxury residential project in Gurugram
Oberoi Realty today announced the launch of Three Sixty North, an ultra-luxury development spread across 14.8 acres and located on Golf Course Extension Road, Sector 58, Gurugram. Drawing inspiration from Three Sixty West in Mumbai, Three Sixty North personifies Oberoi Realty's vision for the future of ultra-luxury living.
Amid Hormuz Tension, Iran And Oman Hold First Joint Committee Meeting
The panel is tasked with examining the future administration of shipping through the Strait of Hormuz.
Auto ancillary sector revenue grew 12.5% in FY26 on volume gains and improved product mix: Report
Indian auto ancillaries witnessed robust revenue growth of 12.5% in FY26, driven by strong volumes and a better product mix. While EBITDA also climbed, operating margins held steady. Looking ahead, the demand outlook remains positive across various vehicle segments, though rising input costs pose a near-term challenge. Companies are focusing on expansion strategies to drive future outperformance.
Astral shares in focus on demerger news but JPMorgan downgrades; check price targets
Another brokerage firm CLSA said the demerger is unlikely to have a meaningful impact on the stock in the near term, adding that sustained growth and margin improvement in the chemicals business will be the key drivers for any future rerating.
Big Four rethink partnership as AI changes the game
India's Big Four accounting firms, Deloitte, PwC, and EY, have surpassed 1,000 partners each, driven by rapid expansion, especially in technology consulting. This growth strains the traditional partnership model, demanding leaders adept at managing diverse businesses, embracing AI, and navigating constant reinvention. The shift necessitates a focus on innovation and adaptability to secure future success.
Industry experts chart the future of India’s bond and fixed income markets
India Fixed Income Summit brings meaningful conversations and fresh perspectives on India’s evolving bond market and the growing importance of fixed income in India’s financial ecosystem.