Shares of Reliance Infrastructure and Reliance Power have tumbled up to 19% over the past six trading sessions amid an ongoing investigation into an alleged Rs 17,000 crore loan fraud involving the Anil Ambani-led companies.
Gland Pharma shares surged after strong Q1 results and positive commentary from brokerages citing a turnaround at its European unit Cenexi. EBITDA margins expanded to 24.4%, and net profit rose 50% YoY. Despite weak U.S. sales, growth in Europe and new launches supported the outlook. Brokerages raised earnings estimates and targets, expecting further gains as Cenexi scales profitability.
Arvind Sanger of Geosphere Capital Management discusses Trump's tariff plans. These plans include potential hikes on pharmaceutical imports and Indian goods. China may have leverage due to rare earth elements and Trump's desire for a meeting with Xi Jinping. India lacks a similar advantage. Sanger also addresses concerns about consistent FII selling and the need for domestic growth initiatives.
Reliance Power shares have plummeted 31% in a month amid regulatory scrutiny and Anil Ambani's ED questioning over alleged loan fraud. Technical indicators signal a bearish trend, with the stock trading below key moving averages. Analysts advise caution, suggesting investors avoid new entries and consider exiting existing positions until stability is confirmed, given the ongoing investigations and reputational risks.
India's corporate bond market is steadily growing, reaching 47 trillion, driven by high-rated entities, while regulatory reforms address liquidity issues. Despite FII outflows and IPO deal declines, strong domestic flows and resilient economic fundamentals support market optimism. Opportunities arise in sectors linked to domestic demand, with smart money favoring companies with solid financials.
Takyon Networks is set to launch on the Bombay Stock Exchange SME platform on August 6. The initial public offering saw a good response. However, the grey market premium is zero. Shares are expected to debut around Rs 54. The IPO was subscribed 21.77 times overall. The company plans to use the funds for working capital and loan repayment.
