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SEBI Enables Transfer of Core SGF Between Segments
Market News - June 10, 2025

SEBI Enables Transfer of Core SGF Between Segments

SEBI Enables Transfer of Core SGF Between Segments

Updated Rules Help Strengthen Clearing Corporations’ Flexibility

Summary:
SEBI has approved a regulatory change that lets clearing corporations move excess Core SGF from the equity cash segment to the equity derivatives segment. This aims to boost financial safeguards and strengthen market risk preparedness.

Introduction

In a notable policy revision to enhance financial security in India’s stock markets, the Securities and Exchange Board of India (SEBI) has allowed clearing corporations to shift surplus funds from the Core Settlement Guarantee Fund (SGF) of the cash equity segment to the equity derivatives segment. This reform is intended to reinforce the stability of derivative transactions by ensuring better capital preparedness to tackle defaults.

What is the Core SGF?

Funded by entities like stock exchanges, clearing corporations, and brokers, this reserve aims to mitigate systemic disruptions during trade settlements by guaranteeing sufficient liquidity.

Why SEBI Made This Move

The updated norms come as India’s derivatives segment witnesses increasing trade volume and complexity. To address the associated financial risks, SEBI has given clearing bodies the authority to reallocate idle funds from the cash segment’s SGF to where they are more critically needed — the derivatives space. This regulatory shift offers clearing corporations the flexibility to adjust fund placement in alignment with risk exposure.

Highlights of SEBI’s Updated Regulations

Eligibility for Transfers:
Only those clearing corporations holding extra SGF reserves in the cash equity section may shift these funds to the derivatives segment. These movements require consent from the corporation’s Risk Committee to ensure prudent financial decision-making.

Transfer Conditions:
SEBI mandates that all such fund transfers be vetted and cleared by the Risk Committee. This ensures proper oversight and alignment with the firm’s broader risk policies.

Phased Capital Contribution:
To meet the SGF needs in the derivatives segment, SEBI permits staggered capital infusions. Clearing corporations must complete this reallocation within four months of the guideline’s release, ensuring time-bound compliance without straining liquidity.

Monthly Capital Review:
Clearing corporations must evaluate their SGF minimum requirement monthly. This figure will be based on stress test results from the previous month, helping corporations maintain a dynamic and up-to-date view of risk readiness.

Mandatory Disclosures:
For transparency, SEBI requires clearing corporations to publicly disclose any gap between the required and actual SGF contributions. This information must be available on the respective websites, boosting confidence among stakeholders.

Impact on Stakeholders

Strengthened Market Safeguards:
These regulatory changes are expected to reinforce the financial framework of the derivatives market, reducing systemic risks and improving confidence in settlement processes.

Better Resource Management:
Clearing corporations now have more leeway in fund management, allowing for improved operational efficiency by channeling capital where it’s most needed, depending on market volatility.

Cost Considerations:
While long-term benefits include stronger market stability, clearing corporations may face transitional costs. These could be reflected in slightly higher fees or operational charges for participants.

Conclusion

SEBI’s decision to allow surplus fund reallocation between the SGFs of cash and derivatives segments is a forward-looking step to enhance market resilience. By granting more financial maneuverability to clearing corporations, the regulator aims to ensure that India’s growing and increasingly complex derivatives market remains well-protected against potential financial shocks. This change, though requiring adjustments from stakeholders, promotes a more responsive and stable capital market ecosystem.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Mizuho Makes Bold Play for India with $700 Million Avendus Buy

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Jio’s Giant Leap: Reliance Confirms IPO in Early 2026
Market News - June 9, 2025

Reliance Industries Surges 18% YTD: Brokerages See More Upside Ahead

Reliance Industries Surges 18% YTD: Brokerages See More Upside Ahead

Strong performance in the retail and telecom segments, focused strategic restructuring, and solid financial health are fueling positive sentiment, with Bernstein, JP Morgan, and Jefferies forecasting additional upside for Reliance Industries in 2025.

Introduction
Reliance Industries has posted an impressive 18% year-to-date (YTD) gain in 2025, outpacing the Nifty 50 and attracting bullish forecasts from leading brokerages. Bernstein and JP Morgan have increased their target prices, while Jefferies maintains a bullish stance even after a minor downward revision.
The company’s performance is underpinned by strong growth in its retail and telecom arms, a focus on quality expansion, and improving cash flows. Analysts see further upside, with valuations still below historical averages and new growth drivers emerging.

Reliance’s 2025 Rally: A Closer Look
Reliance Industries Limited (RIL), India’s largest conglomerate, has captured market attention with an 18% rise in its share price so far in 2025. This performance not only outpaces the Nifty 50 benchmark but also marks a return to growth leadership among large-cap Indian stocks. The rally has been powered by a combination of operational excellence, strategic shifts, and renewed optimism from global and domestic investors.
Key Financial Highlights
• Q4 FY25 Revenue: ₹2.69 lakh crore, up 9.9% YoY
• Q4 FY25 Profit After Tax: ₹22,434 crore, up 6.1% YoY
• FY2025 Total Revenue: ₹9.98 lakh cr, which is up 7.3% YoY
• FY25 PAT: ₹80,787 crore, up 2.7% YoY
• Market Cap: ₹19.5 lakh crore (approx.)
• Dividend to be: ₹5.5 per share for FY2025
The company’s retail and digital services divisions now contribute over half of consolidated EBITDA, reflecting a successful diversification away from its traditional oil-to-chemicals (O2C) business.

Brokerages Turn Bullish: Target Price Upgrades
Bernstein: Growth Momentum and Attractive Valuations
Bernstein has upgraded its target price for Reliance to ₹1,640, implying a 15% upside from current levels. The brokerage highlights:
• Retail segment restructuring concluded with the closure of more than 2,100 low-performing stores in FY25, setting the stage for more sustainable, quality-focused expansion.
• Strengthening momentum in telecom, with anticipated ARPU (average revenue per user) hikes and accelerated rollout of Jio AirFiber and broadband services.
• Moderating capital expenditure and stable net debt, improving the company’s risk-reward profile.
• Reliance is presently valued at a 15% discount compared to its three-year average EV/EBITDA, enhancing its appeal given the company’s strong growth prospects.

JP Morgan: New Growth Cycle
JP Morgan has also increased its price target, highlighting the beginning of a “fresh growth phase” for Reliance. brokerage expects retail and telecom to account for nearly all net EBITDA growth over the next three years, with robust free cash flow generation even as the company invests in new energy, retail, and petrochemicals.

Jefferies: Positive Despite Minor Trim
Jefferies continues to rate the stock as a ‘Buy’, though it has marginally lowered its target price to ₹1,650 per share. The brokerage notes:
• Clear growth trajectory, particularly in retail—supported by rising same-store sales and the scaling of quick commerce—and in telecom, where Jio is expected to deliver an 18% revenue CAGR and 21% EBITDA CAGR between FY25 and FY27.
• A favorable pricing environment in telecom and a recovery in O2C margins, aided by global refinery closures and improving petchem spreads.
• A potential tenfold increase in free cash flows over the next two years, as capital expenditure moderates.
• The telecom sector, led by Jio, as the best vehicle to capture India’s consumption boom.
However, Jefferies also outlines downside risks, including lower-than-expected telecom ARPU, slower recovery in China affecting refining margins, or elevated cash burn in e-commerce ventures. Under its base case scenario, the brokerage continues to anticipate a 16% potential upside.

Strategic Shifts: Quality Over Quantity
A major driver of renewed optimism is Reliance’s strategic pivot from aggressive expansion to quality growth, especially in retail. After closing underperforming stores, the company is now focusing on profitable expansion and operational efficiency. In telecom, Jio continues to lead with network upgrades and new service launches, while the O2C segment is benefiting from favorable global supply-demand dynamics.
Reliance’s foray into new energy and quick commerce is also gaining traction, positioning the company for future growth in emerging sectors.

Market Sentiment and Analyst Consensus
Analyst sentiment remains strongly positive, with over 91% of analysts recommending a ‘Buy’ and an average target price around ₹1,564.74. Technical indicators also support a bullish outlook, with the stock forecasted to reach as high as ₹1,591.73 by the end of 2025.
Despite recent short-term volatility—attributable to global market jitters and profit booking—Reliance’s fundamentals remain robust. Its consistent profitability, leadership in key sectors, and strategic investments underpin its long-term appeal.

Conclusion
Reliance Industries’ 18% year-to-date rally in 2025 is driven by robust operational performance, strategic restructuring, and a resurgence in investor sentiment.
With major brokerages forecasting further upside, the company stands at the forefront of India’s consumption and technology-driven growth story. While risks remain, the balance of evidence suggests that Reliance’s disciplined approach to expansion, focus on high-growth segments, and improving financial metrics make it a compelling bet for the future.

 

 

 

 

 

 

 

 

 

 

 

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Meta Pursues $10B Investment in Scale AI

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RBI raises loans-against-shares limit fivefold: will it meaningfully deepen market liquidity?
Market News - June 9, 2025

Market Set to Surge After RBI's Policy Move

Market Set to Surge After RBI’s Policy Move

A spike in open interest at Nifty’s 25000 weekly put suggests market participants are betting big on further upside following the RBI’s recent rate move.

Summary:
Market sentiment has shifted notably to a more optimistic outlook after the RBI’s recent policy decision, as evidenced by a significant increase in open interest at Nifty’s 25000 weekly put strike according to derivatives data. This indicates traders are gearing up for a sustained market rally, expecting upward momentum to continue as macroeconomic indicators improve and liquidity remains ample. The action is being interpreted as a green light for further equity upside in the near term.

RBI’s Bold Move Triggers Fresh Market Optimism
The Indian equity market appears primed for a fresh leg of the rally, riding high on the positive momentum unleashed by the Reserve Bank of India’s recent monetary policy decision. After the surprising 50 basis point reduction in the repo rate to 5.5%, investor morale has noticeably risen, fueling bullish expectations across various sectors.
While analysts had anticipated a more moderate rate cut, the RBI’s aggressive stance has been widely interpreted as a proactive measure to support economic growth, tame inflationary expectations, and ease liquidity constraints. The outcome? An energized stock market and a notable repositioning in the derivatives segment indicate expectations of further gains.

Derivatives Market Buzz: All Eyes on the 25000 Put
One of the strongest indicators of rising bullishness comes from the sharp jump in open interest at the Nifty 50’s weekly 25000 strike put option, expiring on Thursday. This move suggests traders are hedging less and instead positioning to benefit from a continuing uptrend.
A surge in open interest (OI) in put options—intense out-of-the-money ones like the 25000 strike—can often be interpreted in two ways: as either a protective hedge or a confident bet that the market is likely to remain significantly above that level. In this case, the context points squarely to the latter. Traders appear to be writing puts (i.e., selling them) at this level, confident that the Nifty will not breach 25000 and expecting premiums to decay as the index climbs higher.
The India VIX, a gauge of expected volatility, has also declined in recent sessions, further supporting the case for a steady uptrend in the short term.

Macro Factors Supporting the Rally
1. Easing Interest Rate Cycle:
The recent rate cut by the RBI marks a total reduction of 100 basis points in this current cycle of easing. Lower borrowing costs are expected to boost credit demand, consumption, and capex—especially in rate-sensitive sectors like auto, real estate, banking, and consumer durables.
2. Benign Inflation Outlook:
Despite global commodity price volatility, India’s CPI inflation has remained within the RBI’s comfort zone. With the central bank now adopting a more neutral stance, inflation appears manageable, giving more room for policy flexibility if required.
3. Strong Corporate Earnings:
Recent quarterly results from India Inc. have exceeded expectations, especially in IT, banking, and capital goods. With robust topline growth and improving operating margins, investor confidence in the medium-term earnings trajectory remains firm.
4. Global Liquidity Tailwinds:
With central banks globally turning dovish, global liquidity continues to favour emerging markets. India, with its stable macroeconomic fundamentals and political stability, is seen as a preferred destination for Foreign Institutional Investors (FIIs).

Technical Indicators Turn Positive
Technical charts also support the bullish narrative. The Nifty has decisively breached key resistance levels and is now trading above all critical moving averages—20-DMA, 50-DMA, and 200-DMA—indicating strength across timeframes. Market breadth has improved significantly, with more stocks advancing than declining.
Momentum oscillators like RSI (Relative Strength Index) and MACD (Moving Average Convergence Divergence) show bullish crossovers, reinforcing the uptrend. The immediate resistance for Nifty lies near the 23,500 zone, while strong support is now placed around 22,850–23,000 levels.

Sectoral Trends: Who Benefits the Most?
Banking & Financials: Rate-sensitive stocks are expected to benefit from the RBI’s decision. PSU banks, in particular, have seen renewed buying interest in improving asset quality and better provisioning buffers.
Real Estate: Lower interest rates will boost housing demand, especially in affordable and mid-income segments. Real estate stocks rallied sharply after the policy announcement.
Auto & NBFCs: Easing auto loan rates and providing better affordability are likely to support demand in the automobile sector. NBFCs also stand to benefit from the cheaper cost of funds.
Infrastructure & Capital Goods: Government capex and monetary support should revive infrastructure spending, pushing up demand for construction and capital equipment companies.

Retail Participation Rises
Retail investors have also been actively participating in the current uptrend, as indicated by increasing trading volumes in small- and mid-cap stocks. Direct retail ownership in equities is at record levels, supported by robust SIP inflows, and this cohort is expected to drive the next phase of the rally.

What Lies Ahead?
While the mood is buoyant, analysts caution against complacency. Global factors such as U.S. Fed commentary, crude oil prices, and geopolitical tensions could create short-term volatility. Nonetheless, India’s relative insulation from global turmoil, along with proactive policymaking, makes it a strong candidate for sustained outperformance.
The upcoming earnings season and inflation data will be crucial in determining the longevity of the rally. However, the current positioning by traders, especially the put writing at 25000, suggests that markets are likely to trend higher in the short term unless hit by a major external shock.

Conclusion
The Indian stock market appears to be entering a fresh, bullish phase after the RBI’s decisive rate cut. Backed by favourable macro conditions, supportive policy, strong technical, and growing retail and institutional participation, the stage is set for further upside. The surge in Nifty’s 25000 put OI only reinforces the view that the bulls are taking charge, and the market is geared for an extended rally.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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FDI Surge: 277.6% Rise Boosts India’s Economy!

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Waaree Energies Surges Over 11% on FTSE Index Inclusion Buzz
Market News - June 7, 2025

HG Infra Engineering Ltd: Targets ₹11,000 Cr Order Book for FY26, Stock Undervalued

HG Infra Engineering Ltd: Targets ₹11,000 Cr Order Book for FY26, Stock Undervalued

How India’s infrastructure powerhouse is leveraging sectoral diversification and robust execution to fuel growth, even as its stock remains undervalued.

Introduction
HG Infra Engineering Ltd (HG Infra) has emerged as a key contender in the Indian infrastructure landscape, especially in roads, highways, railways, and solar projects. With a proven track record of consistent growth, the company is eyeing a substantial order inflow of ₹11,000 crore for FY26. Yet, the market seems to be discounting its prospects, with the stock price hovering around ₹1,076—down nearly 43% from its 52-week high. What’s driving this disconnect, and does it present an opportunity for investors?

Order Book Strength and Growth Ambitions
HG Infra’s management has articulated a clear strategy for growth. For FY26, the company is targeting ₹11,000 crore in new orders, with approximately 70% expected from roads and railways, and the remaining 30% from other sectors such as solar and metro projects. This ambitious target is backed by a robust bid pipeline, especially in National Highways Authority of India (NHAI) projects, where the company has already submitted bids worth ₹16,000 crore and is eyeing opportunities in an ₹80,000 crore pipeline.
The order book is well-diversified:
• Roads and highways: ₹11,452 crore (approx. 73%)
• Railways and metro: ₹2,498 crore (approx. 16%)
• Solar: ₹1,691 crore (approx. 11%)
This diversification reduces dependency on a single segment and positions the company to benefit from India’s multi-sector infrastructure push.

Financial Performance and Operational Highlights
HG Infra has delivered impressive financial results, underpinned by strong execution and operational efficiency:
• Q1 FY2025 revenue: ₹1,528 cr, up 13.1% y-o-y
• Q1 FY25 EBITDA: ₹312 crore (margin of 20.44%)
• Q1 FY25 PAT: ₹163 crore (margin of 10.6%)
The management has maintained guidance for 17–18% revenue growth and EBITDA margins of 15–16% for FY25 and FY26. The company’s five-year revenue CAGR stands at over 20%, with sustained operating margins and a healthy order book-to-bill ratio of nearly 3x.
On the balance sheet front, HG Infra remains disciplined. The company has infused ₹728 crore into Hybrid Annuity Model (HAM) projects, with a further ₹425 crore planned for FY25 and the balance in FY26–27. Solar project equity requirements are also being met through internal accruals and asset monetization.

Sectoral Diversification and Future Prospects
Traditionally focused on roads and highways, HG Infra has successfully expanded into railways, metro, and solar segments. These now constitute a quarter of its total order book, reducing sectoral concentration risk and opening new revenue streams.
The company is also exploring opportunities in water infrastructure and transmission projects, particularly under the Tariff-Based Competitive Bidding (TBCB) model, which leverages its EPC expertise. This sectoral expansion is expected to support a 15% CAGR in revenues over FY24–26.

Market Valuation: Discounted Opportunity?
The current market capitalization stands at ₹7,012 crore. Over the past five years, the stock has delivered a stellar 433% return, yet recent corrections have created an apparent value gap.
Analysts remain bullish, with target prices ranging from ₹1,720 to ₹1,885, reflecting confidence in the company’s growth trajectory and execution capabilities. The substantial promoter stake (exceeding 71%) and strong institutional participation further highlight investor trust.

Challenges and Risks
While the outlook is positive, investors should be mindful of potential risks:
• Policy changes or delays in government project awards
• Rising input costs impacting margins
• Competitive intensity in the EPC sector
The company’s focus on operational efficiency, prudent capital allocation, and sectoral diversification are key mitigants to these risks.

Conclusion
With a robust and diversified order book, ambitious growth targets, and disciplined execution, the company is well-positioned to capitalize on India’s infrastructure boom. The current market discount offers a compelling entry point for long-term investors seeking exposure to the sector. However, as with all investments, a close watch on execution and macroeconomic developments is warranted.

 

 

 

 

 

 

 

 

 

 

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Silver Surges to Historic Rs 1.07 Lakh/kg, Gold Nears Record Highs: What’s Driving India’s Bullion Boom?

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Waaree Energies Surges Over 11% on FTSE Index Inclusion Buzz
Market News - June 5, 2025

Reliance Infrastructure Stock Soars After NCLAT Halts Insolvency Proceedings

Reliance Infrastructure Stock Soars After NCLAT Halts Insolvency Proceedings

Legal reprieve sparks a remarkable rally in Reliance Infra shares, highlighting the interplay between regulatory decisions and market sentiment.

Background: The Insolvency Saga
The recent rally in Reliance Infrastructure’s (RInfra) stock is closely linked to a protracted legal battle over alleged payment defaults.
In 2022, IDBI Trusteeship Services Ltd., representing Dhursar Solar Power Pvt. Ltd. (DSPPL), filed an application with the Mumbai bench of the National Company Law Tribunal (NCLT) to initiate corporate insolvency proceedings against Reliance Infrastructure (RInfra), citing a purported non-payment of ₹88.68 crore.
The dispute stemmed from ten unpaid invoices issued between 2017 and 2018 for solar energy supplied by DSPPL.
On May 30, 2025, the NCLT accepted the plea, sparking concerns about RInfra’s financial stability and creating doubts regarding the continuity of its business operations.
However, RInfra swiftly contested the order, asserting that it had already settled the full outstanding amount—₹92.68 crore—to DSPPL, rendering the insolvency proceedings moot.

NCLAT’s Intervention: A Turning Point
On June 4, 2025, the NCLAT delivered a significant reprieve by suspending the NCLT’s order and halting the insolvency process pending further hearings. The appellate tribunal’s decision was based on RInfra’s argument that the disputed payment had been fully cleared, making the continuation of insolvency proceedings unnecessary.
This legal victory was immediately reflected in the markets. RInfra’s shares surged as much as 13% in intraday trading, closing over 11% higher at ₹380 on the National Stock Exchange. The stock’s rally was further fueled by the perception that the company had overcome a major financial hurdle, restoring investor confidence.

Financial Performance and Strategic Moves
The legal developments coincided with a period of strong financial performance for RInfra. The company reported a remarkable turnaround in its January–March 2025 quarter, posting a profit after tax (PAT) of ₹4,387 crore, reversing a previous net loss of ₹3,298 crore. Its consolidated EBITDA, adjusted for exceptional income, soared to ₹8,876 crore in Q4 FY25, a staggering 681% sequential increas.
Beyond financials, RInfra has been actively expanding its footprint in the defense sector. Its subsidiary, Reliance Defence Ltd, recently forged a strategic partnership with Germany’s Rheinmetall AG for ammunition manufacturing. This follows earlier collaborations with Dassault Aviation and Thales Group, positioning RInfra as a key player in India’s defense modernization drive.
The company also made headlines by becoming the first private Indian firm to design and develop four types of new-generation 155mm artillery ammunition, a move expected to boost domestic self-reliance and open up significant export opportunities.

Market Reaction: Volatility Amid Optimism
The National Company Law Appellate Tribunal’s (NCLAT) decision to pause the insolvency process sparked strong investor optimism, propelling RInfra’s shares to their highest level in nearly seven years.
The stock has gained over 46% in the past month and more than 140% from its 52-week low. However, the sharp rally also led to some profit-taking, with the share price dipping by 4.4% the day after the surge.
Analysts remain divided on the stock’s immediate trajectory. While some recommend booking profits at current levels, citing technical resistance around ₹380 and support in the ₹320–₹329 range, others point to the company’s improving fundamentals and strategic initiatives as reasons for optimism.

Broader Implications: What This Means for Investors
The Reliance Infrastructure episode underscores the profound impact that regulatory and legal decisions can have on market sentiment and stock performance. The swift reversal of the insolvency order not only averted a potential crisis for the company but also highlighted the importance of timely dispute resolution and transparent corporate communication.
For investors, the case serves as a reminder to closely monitor both legal and operational developments in companies with complex financial histories. RInfra’s ability to resolve its dispute and deliver strong financial results has, at least for now, restored market confidence and opened the door for further growth, particularly in high-potential sectors like defense and infrastructure.

Conclusion
Reliance Infrastructure’s recent stock rally is a testament to the dynamic interplay between legal outcomes, financial performance, and investor sentiment. The NCLAT’s suspension of insolvency proceedings provided immediate relief, while the company’s robust earnings and strategic partnerships have laid the groundwork for a more optimistic future. As the legal process continues and new business opportunities unfold, RInfra’s journey will remain closely watched by market participants.

 

 

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Musk’s xAI Launches $5 Billion Debt Offering to Fuel AI Ambitions

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Inox India Secures ₹373 Crore in New Orders, Stock Gains Ground
Market News - June 4, 2025

Inox Wind Slides After Early Gains Amid Market Caution

Inox Wind Slides After Early Gains Amid Market Caution

Inox Wind Ltd., a prominent name in India’s wind energy sector, experienced a volatile trading session on June 4, 2025. The stock opened in the green, fueled by recent momentum in the renewable energy space, but reversed direction as the day progressed, ending in the red. This unexpected dip came despite a broader optimistic tone in the clean energy market and reflected the nervous sentiment of short-term investors.
Initially, the company’s shares showed upward movement, thanks in part to growing enthusiasm around India’s clean energy commitments and Inox Wind’s progress in project execution. However, the shift in momentum revealed deeper concerns about valuations, market trends, and the company’s financial consistency.

Early Optimism Driven by Sectoral Sentiment
The opening surge in Inox Wind’s share price was not a surprise to market watchers. With India doubling down on its green energy targets and clean power capacity expansion, companies like Inox Wind are seen as key beneficiaries. Investors, particularly those eyeing mid-cap energy plays, had become increasingly bullish following recent government updates on wind project auctions and transmission infrastructure support.
The stock’s early confidence was bolstered by Inox Wind’s strong order book and intentions to increase turbine manufacturing. Analysts have pointed to this as a vote of confidence in the company’s improved execution capabilities and alignment with national renewable energy targets.

Reversal Triggered by Market Factors
Despite the upbeat opening, the stock lost momentum in the later trading hours. The fall was attributed largely to profit booking, a common occurrence after a short rally. With Inox Wind having shown a sharp rise in recent days, some traders likely decided to cash in on their positions.
Additionally, broader market dynamics may have played a role. Rising concerns over inflation, foreign fund outflows, and cautious global cues made investors more risk-averse — especially in sectors that require heavy capital investments and face execution challenges, like renewable infrastructure.

Company Overview
One of India’s leading providers of wind turbine generators and related services is Inox Wind, a division of the INOX Group. Its fully integrated business model includes manufacturing nacelles, blades, and towers, along with providing end-to-end project execution.
With factories located in Gujarat, Himachal Pradesh, and Madhya Pradesh, the company is strategically positioned to cater to India’s growing demand for renewable energy. It has also been expanding its footprint through collaborations and partnerships with independent power producers (IPPs) and state utilities.

Positive Developments in Recent Months
Despite today’s price movement, Inox Wind has had a series of encouraging updates that suggest a promising outlook:
• Financial Restructuring: The firm has been actively reducing its debt, which has improved investor sentiment.
• New Orders Secured: Multiple wind energy projects were recently awarded to the company, adding strength to its revenue pipeline.
• Faster Project Turnaround: Better logistics, planning, and execution have helped the company cut down delays.
• Government Support: Policies under India’s energy transition roadmap are expected to provide further growth impetus.
These developments had driven the stock upward in previous sessions — making today’s fall appear more as a short-term pause than a shift in long-term outlook.

Analyst Perspective: A Pause or a Red Flag?
Analysts remain cautiously optimistic. With the underlying fundamentals remaining in place, some people see today’s decline as a typical retracement following a powerful gain. According to them, Inox Wind is set to benefit from increasing demand for wind energy installations and the government’s push toward net-zero goals.
Others, however, urge vigilance. While the company is improving, concerns around timely order execution, payment delays from state electricity boards, and competition from solar energy continue to pose risks. Long-term investors are advised to monitor earnings consistency and cash flow management in the coming quarters.

Conclusion: One Day, Not the Whole Story
The price action in Inox Wind today serves as a reminder of the stock market’s short-term volatility. While green energy remains a long-term growth story in India, share movements will continue to reflect both fundamental progress and daily trader sentiment.
Inox Wind’s dip from its morning highs doesn’t diminish the company’s potential, but it highlights the need for sustained performance and disciplined execution. As clean energy gains momentum, Inox Wind’s ability to navigate market fluctuations while scaling operations will determine how far its stock can rise in the future.

 

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Gully Labs Raises ₹8.7 Crore for Expansion!

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HDB Financial Services Gets Regulatory Nod for ₹12,500 Crore IPO
Market News - June 4, 2025

HDB Financial Services Gets Regulatory Nod for ₹12,500 Crore IPO

HDB Financial Services Gets Regulatory Nod for ₹12,500 Crore IPO

HDFC Bank’s NBFC arm gears up for one of India’s largest IPOs, following SEBI’s green light and RBI’s listing mandate for top-tier non-banking finance companies.

Introduction

India’s capital markets are set for a major event as HDB Financial Services, the retail-focused NBFC arm of HDFC Bank, prepares to launch its much-anticipated ₹12,500 crore IPO. The move comes after SEBI granted its formal approval in late May 2025, paving the way for one of the largest public offerings by a non-banking lender in the country’s history. This IPO is not just a capital-raising exercise but also a regulatory milestone, as it fulfills the Reserve Bank of India’s (RBI) requirement for large NBFCs to list by September 2025.

IPO Structure and Details

HDB Financial Services plans to raise ₹12,500 crore through its IPO, including a ₹2,500 crore fresh share issuance and a ₹10,000 crore offer for sale by HDFC Bank, which currently holds a 94.36% ownership in the subsidiary. The proceeds from the fresh issue will be utilized to bolster the company’s Tier-I capital, aiding future lending activities and growth plans.
Key facts:
• Fresh Issue: ₹2,500 crore
• Offer for Sale: HDFC Bank selling shares worth ₹10,000 crore
• Parent Stake Pre-IPO: 94.36%
• IPO Size: Biggest IPO by a non-banking financial company (NBFC) in India; ranks fifth among all Indian IPOs.
• Listing Mandate: In accordance with the Reserve Bank of India’s directive for upper-tier NBFCs to go public.

Regulatory and Market Context

SEBI’s approval came as part of a batch of six IPO clearances, including companies from sectors such as solar energy and specialty chemicals. For HDB Financial, the timing is crucial: the RBI’s October 2022 guidelines require all “upper-layer” NBFCs—those with significant size and systemic importance—to be listed on stock exchanges by September 2025. This regulatory push aims to enhance transparency, governance, and market discipline among large non-banking lenders.
The IPO also marks the first public float from the HDFC group since its last listing seven years ago, underscoring the significance of this event for both the group and the broader financial sector.

Company Profile and Growth

Established in 2007, HDB Financial Services has expanded to become one of India’s leading NBFCs, operating through a network of more than 1,680 branches across the country. The company offers a mix of secured and unsecured loans, catering to retail and small business customers. As of March 2025, HDB Financial reported a loan book of ₹1.07 trillion and a net worth of approximately ₹13,300 crore.
In the most recent financial quarter, the company posted a profit of ₹5.5 billion and net revenue of ₹26.2 billion, reflecting robust operational performance and a strong foundation for future growth.

Implications for HDFC Bank and Investors

For HDFC Bank, this IPO represents a calculated move to unlock the value of its NBFC arm while meeting regulatory mandates. By selling a portion of its stake through the offer for sale, the bank can boost its capital position and concentrate more on its primary banking activities.
From an investor’s perspective, the HDB Financial IPO provides an opportunity to invest in a prominent NBFC with a broad national presence, solid backing from its parent company, and a consistent growth history. The listing will also enhance transparency and governance, as the company becomes subject to public market scrutiny and disclosure norms.

Industry and Peer Comparison

The IPO landscape for NBFCs has been relatively quiet in recent years, making HDB Financial’s public issue a landmark event. Its size—both in terms of capital raised and loan book—places it among the top-tier NBFCs in India, rivaling other listed entities in the sector. The company’s diversified loan portfolio, extensive branch network, and focus on retail lending position it well to benefit from India’s ongoing economic growth and rising consumer credit demand.

What’s Next?

With SEBI’s approval in hand, HDB Financial Services is expected to proceed with the IPO launch in the coming months. The company will finalize its offer price, engage with institutional and retail investors, and complete the listing process on the BSE and NSE. The fresh capital will be deployed to support lending growth, enhance technology infrastructure, and meet evolving regulatory requirements.

Conclusion

The SEBI nod for HDB Financial Services’ ₹12,500 crore IPO sets the stage for a transformative chapter in the company’s journey and the Indian NBFC sector at large. By combining regulatory compliance, capital infusion, and enhanced market visibility, the IPO is poised to create value for HDFC Bank, HDB Financial, and a new generation of public investors. As the financial services landscape continues to evolve, this listing will be closely watched as a bellwether for future NBFC public offerings.

 

 

 

 

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Warburg Pincus Secures CCI Green Light for Major Stake in IDFC First Bank

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Gold, Silver Surge to Record Highs on MCX Amid Tariff Jitters, Fed Rate Cut Buzz
Commodities - June 3, 2025

Silver ETFs Surge: Investors Shift from Gold!

Silver ETFs Surge: Investors Shift from Gold!

 

In 2025, Silver Exchange Traded Funds (ETFs) become a sought-after alternative to gold, as investors look for greater returns amid global market instability. However, analysts warn about the significant price volatility associated with silver.

Summary:
In 2025, Silver ETFs have gained remarkable traction among investors, outpacing gold ETFs in inflows and performance. The shift comes amid growing industrial demand, macroeconomic tailwinds, and a strategic pivot towards precious metals diversification. Yet, market experts warn of silver’s higher historical volatility, advising investors to balance expectations with caution.

Silver Steps into the Spotlight
Traditionally viewed as gold’s lesser-followed sibling in the precious metals market, silver has outshone gold in 2025, particularly through Exchange Traded Funds (ETFs). As of mid-year, Silver ETFs have seen a significant spike in assets under management (AUM), beating gold ETFs in terms of net inflows and percentage returns. This reversal in investor sentiment is being driven by a mix of macroeconomic, industrial, and investment trends that are tilting the scales in silver’s favour.
Silver’s dual nature—as both a precious metal and a key industrial component—has placed it at the intersection of monetary hedging and technological transformation, especially amid the rising adoption of green energy and electric vehicles. Meanwhile, gold, although still a solid hedge against inflation and geopolitical risks, has been perceived as slower-moving in a year where investors seek tactical agility.

Data Signals Strong Momentum
In the first half of 2025, Silver ETFs in India and abroad have recorded inflows upwards of ₹1,500 crore, compared to ₹900 crore into gold ETFs. Globally, the iShares Silver Trust (SLV) and Aberdeen Standard Physical Silver Shares ETF have achieved year-to-date returns of 17-19%, surpassing gold ETFs, which have typically returned around 8-10%.
According to data from AMFI (Association of Mutual Funds in India), Silver ETFs have more than doubled their investor base compared to 2024, with younger and more risk-tolerant investors showing preference. This increased retail participation is not only driving volumes but also deepening the market’s liquidity, making silver a viable alternative to traditional hedging tools.

Why Silver is Shining Brighter in 2025
Several macroeconomic and sector-specific factors have contributed to silver’s strong performance in 2025:
1. Increase in Industrial Demand: Silver is essential in the production of solar panels, electric vehicle batteries, 5G technology, and semiconductors. The global shift towards clean energy and sustainable technologies has resulted in a consistent rise in silver demand.
2. Supply Limitations: Unlike gold, silver is heavily used in industrial applications, and its extraction frequently occurs as a by-product of mining for other metals such as copper and zinc. With supply chain disruptions and increased mining expenses, output has decreased, leading to tighter supply and higher prices.
3. Weaker Dollar Index: The decline of the US Dollar in early 2025 has positively impacted all commodities, but silver—due to its stronger connections to industrial use—has experienced more significant price fluctuations.
4. Portfolio Diversification: As gold prices approach saturation at around ₹65,000–₹70,000 per 10 grams, silver presents a greater potential for appreciation per investment unit. Many retail investors consider silver to be a more accessible alternative to gold, with better prospects for growth.

The Volatility Trade-Off
However, silver’s outperformance does not come without risks. Historically, silver prices have shown more than double the volatility of gold. While gold tends to move steadily, silver is known for sharp price spikes and drawdowns. For instance, during the commodity market corrections of 2020 and 2022, silver prices dropped over 25% within weeks, compared to a 10–12% correction in gold.
Anand Rathi, who serves as a Senior Fund Manager at a prominent Asset Management Company, indicates that:
“Silver’s industrial demand makes it more cyclical and reactive to economic trends. That gives it a strong uptrend during economic expansions, but it also carries significant downside risk when sentiment reverses. It’s not for the faint-hearted.”
Investors looking to enter Silver ETFs are advised to assess their risk appetite, maintain a longer investment horizon, and consider staggered investing strategies, such as SIPs in silver-based mutual fund schemes or ETFs.

Regulatory Encouragement and Product Innovation
In 2022, the Securities and Exchange Board of India (SEBI) authorized the introduction of Silver ETFs. Since then, various offerings from prominent asset management companies, such as Nippon India Silver ETF, ICICI Prudential Silver ETF, HDFC Silver ETF, and Axis Silver ETF, have attracted significant interest. The regulatory push towards commodities-linked retail investments has widened participation and ensured better transparency in silver price tracking.
Innovative investment products such as Silver ETF Fund of Funds (FoFs) and ETF + Gold Combo Schemes are also helping investors blend stability and growth within their precious metal portfolio.

Expert Advice for Retail Investors
For Indian investors, silver continues to offer affordable entry points, with the minimum investment amount typically lower than gold ETFs, especially in SIP formats. However, experts advise limiting silver exposure to 10-15% of one’s commodity allocation as part of a well-diversified investment strategy.
Sonal Arora, a certified financial planner, recommends:
“Silver is a tactical allocation—not a core holding. Use it to boost returns when the economic cycle is in your favour, but always pair it with gold for stability.”

Conclusion: A Shiny 2025 for Silver, But Not Without Shadows
As of mid-2025, Silver ETFs are the outperformers in the Indian commodity ETF space, driven by industrial tailwinds, retail enthusiasm, and global macro support. The asset class is no longer just a speculative bet—it is emerging as a credible investment avenue, especially for those willing to weather its volatility.
While gold remains the go-to for capital preservation, silver is carving out its place as the “growth metal”. Investors need to proceed with caution, finding the appropriate equilibrium between risk and reward in their portfolio of precious metals.

 

 

 

 

 

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Investors Cheer as AVP Infracon Shares Climb 6% After ₹16 Crore Project Win!

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India Set to Become World’s Second-Largest Economy by 2038: EY Report
Market News - June 2, 2025

Foreign Investments Revive Indian Markets with Massive Boost

Foreign Investments Revive Indian Markets with Massive Boost

Record-breaking foreign inflows reflect renewed trust in India’s economic resilience and market potential.

In a notable financial development, India’s equity markets saw a sharp rise in foreign portfolio investment (FPI) during May 2025. Overseas investors injected a substantial ₹19,860 crore into Indian equities, making it the highest monthly inflow of the year. This rebound breaks the downward trend observed in the earlier months, when FPIs had largely stayed away due to uncertain market conditions. The renewed optimism is credited to robust economic data, encouraging company results, and an improving global financial climate.

Key Drivers Behind the FPI Surge

Multiple factors played a critical role in drawing back foreign investments to Indian markets:

1. High-Value Block Deals:
Several large block transactions took place in May, drawing international attention. Notable among them were British American Tobacco’s ₹1.51 billion sale in ITC, Rakesh Gangwal’s ₹1.36 billion stake reduction in IndiGo, and Singtel’s ₹1.5 billion exit from Bharti Airtel. These moves stirred investor interest and enhanced liquidity.

2. Strong Business Performance:
Domestic companies reported strong quarterly earnings, especially in sectors like infrastructure, industrial manufacturing, and capital goods.

3. Positive Economic Signals:
India’s economy displayed encouraging indicators, such as easing inflation and steady interest rates. Furthermore, recent government tax relief measures have added to the attractiveness of Indian equities for global investors.

4. Global Market Stability:
A temporary standstill in U.S. trade tariffs helped reduce worldwide economic tensions. This calming of international trade friction created a favorable environment, encouraging funds to flow back into emerging economies like India.

Stock Market Reaction and Sentiment Shift

The surge in foreign capital had a clear effect on India’s stock indices. The Nifty 50, a key benchmark, has climbed nearly 6% since April began, suggesting renewed investor enthusiasm. Analysts predict this rally could persist, potentially setting new market highs in the latter part of 2025.

Despite this positivity, caution remains. Between March and May, the Nifty 50 index rose around 12% on the back of strong results and improved global conditions. During that time, FPIs invested \$2.66 billion and cut back on their bearish positions. This indicates some market participants are preparing for possible corrections.

Future Outlook: Optimism with Caution

Although the recent capital inflows are a healthy sign, market experts are advising investors not to become overly optimistic. Indian stock valuations are relatively high, and the risk of a prolonged global economic downturn continues to loom large. These factors could lead to renewed volatility and slower capital flows in the coming months.

In summary, the ₹19,860 crore of FPI recorded in May 2025 marks a strong return of foreign investor interest in Indian markets. This turnaround was fueled by large corporate transactions, solid earnings, a favorable economic backdrop, and stabilizing global conditions. Nonetheless, sustaining this momentum will depend on maintaining strong domestic performance and managing global risks carefully.

Summary:
Foreign investors brought ₹19,860 crore into Indian stocks in May 2025, ending a streak of capital outflows. This return was driven by major equity deals, strong earnings across sectors, and stable economic indicators. While this signals growing confidence, experts remain cautious due to high stock prices and lingering global uncertainties.

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LIC Leads ₹1 Lakh Crore Market Cap Surge Among Top Indian Firms

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Growth in Telecom, Energy, Railways Drives Salasar Techno’s Q4 Performance
Result Updates - June 2, 2025

Growth in Telecom, Energy, Railways Drives Salasar Techno’s Q4 Performance

Growth in Telecom, Energy, Railways Drives Salasar Techno’s Q4 Performance

 

Steel Structure Giant Reports 30% Profit Surge, Eyes Expansion with Strategic Acquisitions

Introduction

Salasar Techno Engineering, a prominent player in India’s steel structure and infrastructure sector, has turned heads with its impressive financial results for the fourth quarter of fiscal year 2025. The company’s latest earnings report highlights a notable rise in both revenue and profitability, underscoring its resilient business model and ability to capitalize on growth opportunities in core sectors such as telecom, energy, and railways.

Q4 FY25: Key Financial Highlights

Profit and Revenue Growth
For the quarter ending March 2025, Salasar Techno Engineering posted a consolidated net profit of approximately ₹19.31 crore, marking a robust 30% increase compared to the ₹15.21 crore earned in the same period last year. The sharp increase in profits was driven by a notable 32% year-on-year growth in total income, reaching ₹472.68 crore compared to ₹358.42 crore in the same quarter of the previous fiscal year.
Operational Performance and Sectoral Strength
The company’s strong performance is attributed to its diversified client base and ongoing projects in critical infrastructure sectors. By serving telecom, energy, and railway industries, Salasar Techno Engineering has established itself as a reliable partner for large-scale engineering and construction projects. The consistent uptick in revenue and profit demonstrates the company’s operational efficiency and its ability to adapt to market demands.

Full-Year Financial Snapshot

Annual Profit and Revenue
During the full financial year 2024–25, Salasar Techno Engineering posted a net earnings figure of ₹50.71 crore, while its total revenue climbed to ₹1,412 crore.
These figures reflect the company’s sustained growth momentum and its strategic focus on expanding its project portfolio.
Shareholder-Friendly Initiatives
As part of its efforts to reward shareholders, the company announced a bonus issue in February 2024 at a 4:1 ratio, offering four extra shares for each share already owned.
This initiative has bolstered investor confidence and contributed to the positive sentiment around the stock.

Market Reaction and Share Price Performance

Stock Movement
Following the announcement of its Q4 results, Salasar Techno Engineering’s share price experienced a notable uptick, rising nearly 5% in a single trading session. The stock, which closed at ₹8.98 on the National Stock Exchange, has been a standout performer over the long term, delivering multibagger returns of over 800% in the past five years. However, it’s worth noting that the share price has corrected by more than 50% over the past year, highlighting the volatility inherent in the small-cap segment.
Investor Sentiment
Salasar Techno Engineering’s solid financial results and well-planned acquisitions have renewed investor confidence in the company.
Market participants are closely monitoring the company’s next moves, especially in light of its recent acquisition of EMC Ltd, which is expected to further strengthen its market position.

Strategic Expansion: Acquisition of EMC Ltd

Details of the Deal
Salasar Techno Engineering has finalized the purchase of EMC Ltd, a company specializing in engineering, procurement, and construction (EPC) services, for a total deal value of ₹178 crore.
The company made a balance payment of ₹168 crore to finalize the transaction through an insolvency process. This acquisition is a significant step in Salasar’s growth strategy, as it aims to enhance its capabilities and expand its footprint in the infrastructure sector.
Expected Synergies
The integration of EMC Ltd is anticipated to create synergies that will bolster Salasar Techno Engineering’s project execution capabilities and open up new business opportunities. The combined strengths of both companies are expected to drive innovation, improve operational efficiency, and support long-term growth.

Business Model and Sectoral Focus

Core Competencies
Salasar Techno Engineering specializes in the design, fabrication, and erection of steel structures for large-scale infrastructure projects. Its expertise spans engineering, procurement, and construction (EPC) services, making it a key player in India’s infrastructure development landscape.
Serving High-Growth Sectors
The company’s focus on telecom, energy, and railways aligns with national priorities, including digital connectivity, renewable energy expansion, and railway modernization. By catering to these high-growth sectors, Salasar Techno Engineering is well-positioned to benefit from government investments and policy support.

Challenges and Opportunities

Market Volatility
While Salasar Techno Engineering has demonstrated strong growth, the company operates in a competitive and volatile market. The recent correction in its share price serves as a reminder of the risks associated with small-cap stocks. However, the company’s consistent profitability and strategic acquisitions provide a solid foundation for future resilience6.
Growth Prospects
Moving forward, Salasar Techno Engineering is well-positioned for continued growth, supported by a healthy order backlog, an active project portfolio, and the successful incorporation of EMC Ltd. The company’s strength in handling complex projects and its agility in responding to changing market dynamics will be key factors in sustaining its upward trajectory.

Conclusion

Salasar Techno Engineering’s strong Q4 FY2025 performance showcases its effective operational execution and proactive approach to long-term growth.
With a 30% surge in net profit, a 32% increase in total income, and the successful acquisition of EMC Ltd, the company is well-positioned to capitalize on opportunities in India’s infrastructure sector. While market volatility remains a challenge, Salasar’s diversified portfolio, shareholder-friendly initiatives, and focus on high-growth industries bode well for its future prospects.
Investors and industry observers will be watching closely as Salasar Techno Engineering continues to execute its growth strategy and solidify its position as a leading player in the engineering and construction space.

 

 

 

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Ircon International Gets ₹1,068 Cr EPC Railway Contract in Bihar

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