Market Bizzz

IHCL will acquire 51% stakes in ANK Hotels and Pride Hospitality for Rs 204 crore, expanding its midscale Ginger brand. The move adds 135 Clarks Hotels & Resorts properties, taking Ginger’s portfolio to 250 hotels and strengthening IHCL’s Accelerate 2030 growth strategy.

Golden Cross is an important technical indicator of bullishness. It occurs when the short-term moving average crosses over the major long-term moving average on the upside.

Hindalco Industries’ shares are in focus as Novelis Inc, its US subsidiary, reported a 36% drop in net income to $96 million for Q1FY26. Despite a 13% rise in net sales to $4.7 billion, adjusted EBITDA fell 17% to $416 million. The decline in profitability was attributed to restructuring charges and higher scrap prices, though beverage packaging shipments increased.

LIC remains committed to its core strength in life insurance and pension services, maintaining a neutral stance on composite licenses. The insurer aims to consolidate its market leadership, cautiously evaluating statutory changes before diversification. While non-PAR products are growing, LIC will balance them with traditional PAR offerings to meet diverse customer needs, targeting a gradual improvement in VNB margins.

SoftBank is reportedly preparing to list its Japanese payments app operator, PayPay, in the United States, potentially raising over $2 billion. Goldman Sachs, JPMorgan Chase & Co, Mizuho Financial Group, and Morgan Stanley are leading the IPO preparations, which could occur as early as the final quarter of this year.

The planned investment of around Rs 2,624 crore will give the investor an estimated 5.09% stake in IDFC First Bank’s post-issue paid-up share capital. The acquisition will be carried out via a preferential issue, which received shareholder approval on May 17, 2025.

Technocraft Ventures, a wastewater treatment firm, has filed for an IPO with SEBI to raise funds through a fresh issue of shares and an offer for sale by a promoter. The IPO aims to raise ₹138 crore for working capital.

Indian stock markets faced a tough week. Nifty 50 and Sensex both declined. Global worries and continuous selling by foreign investors impacted the market. Analyst Sudeep Shah suggests caution. Nifty’s key support is around 24200-24150. Bank Nifty’s support lies near 54950-54850. Auto sector shows resilience. Pharma and IT sectors face bearish trends.

Here are the stocks that were included or saw a weight up in the MSCI indices, along with the expected inflows/outflow.

State Bank of India (SBI) surpassed D-Street expectations with a 12% increase in its June-quarter net profit, reaching ₹19,160 crore. This growth was primarily driven by higher treasury income and expansion in retail loans. The bank benefited from gains on government securities sales due to policy rate cuts and increased foreign exchange trading income.