India

JSW Cement, a prominent player in India’s building materials sector and part of the Sajjan Jindal-led JSW Group, has finalized the price band for its highly anticipated initial public offering (IPO), aiming to raise Rs. 3,600 crore. This strategic capital raise will include a combination of fresh equity issuance and an offer for sale by existing shareholders. The IPO proceeds are intended to fund the company’s capacity expansion, reduce debt, and strengthen its market position in the fast-growing cement industry.

Gold prices registered a moderate decline of Rs. 200 in the domestic market, reflecting cautious investor sentiment and global uncertainties. While the yellow metal softened slightly, silver prices held steady, suggesting a divergence in short-term market dynamics between the two precious metals. The downward movement in gold is being attributed to fluctuations in international prices, a stronger U.S. dollar, and shifting expectations around interest rates. Meanwhile, silver’s resilience indicates continued industrial demand and support from long-term investors.

M&B Engineering Limited is set to open its Initial Public Offering (IPO) on July 30, aiming to raise Rs. 650 crore from the primary market. The offering is expected to include both fresh equity issuance and an offer for sale by existing shareholders. Proceeds from the IPO will be used for capacity enhancement, debt reduction, and strategic expansion initiatives. The company's strong positioning in industrial engineering services, combined with favorable sector dynamics and robust investor appetite, sets the stage for a promising market debut.

Chanda Kochhar, the former chief executive of ICICI Bank, has been found guilty of receiving a Rs. 64-crore bribe in connection with the approval of a Rs. 300-crore loan to the Videocon Group. The court’s findings confirm longstanding suspicions of quid pro quo dealings between Kochhar, her husband Deepak Kochhar, and Videocon’s promoter, Venugopal Dhoot.

Tech Mahindra's shares came under pressure following the release of its first-quarter earnings, which fell short of market expectations. The IT services major reported subdued performance across key financial metrics, reflecting continued demand softness in the global technology outsourcing sector. Revenue and profit margins remained under strain, particularly in the communications vertical, as clients delayed discretionary spending. The muted earnings prompted a decline in investor sentiment, resulting in a drop in the company’s stock price.

In a notable development for India’s capital markets, WeWork India and Studds Accessories have obtained crucial approvals from the Securities and Exchange Board of India (SEBI) to launch their initial public offerings. These clearances position both companies to raise substantial funds from public investors, bolster their growth strategies, and deepen their industry footprints.

NLC India Ltd., a key public sector enterprise in the energy sector, has announced an extensive capital expenditure plan of Rs. 1.25 lakh crore to be rolled out over the coming years. This transformative investment is designed to expand the company’s footprint across thermal, renewable, and mining operations, reinforcing its role in India’s evolving energy mix. The plan also underscores NLC’s intent to pivot more aggressively toward green energy, aligning with national targets for sustainable development.

Oyo and Yatra have formalized a strategic partnership aimed at servicing the expanding corporate travel market in India. By combining Yatra’s extensive distribution network and Oyo’s B2B-tailored accommodation offerings, the collaboration will deliver bespoke stay and travel packages to enterprises of all sizes. This synergy is timely, considering reports that India’s corporate travel sector—valued at roughly $10.6 billion—could double by 2029–30.

In a decisive stride toward sustainable mobility, Montra Electric, part of the Murugappa Group, has flagged off the delivery of its first batch of 50 electric small commercial vehicles (e-SCVs) to key logistics partners. This initiative is aimed at transforming last-mile delivery networks with zero-emission vehicles, supporting both environmental priorities and operational efficiencies. The rollout underscores Montra Electric’s ambition to carve a strong presence in India’s evolving electric cargo segment, catering to urban and semi-urban logistics demands.