Market Bizzz

Brent crude futures slipped 35 cents, or 0.4%, to $88.87 a barrel, while U.S. West Texas Intermediate crude for September delivery was little changed at $82.47 a barrel. Both benchmarks remained below the more than one-month highs touched in the previous session.

Brent crude futures rose $2.69, or 3.05%, to $90.79 a barrel, their highest level since June 11. The benchmark extended last week’s rally, when it gained 15.9%, marking its biggest weekly advance since April.

According to SEBI’s T+1 settlement cycle, investors must buy a company’s shares at least one trading day before the record date to ensure the shares are credited to their demat accounts in time, and they become eligible for the corporate action.

Lohia Corp will launch its IPO on July 23, with the issue comprising a pure offer for sale of over 2.59 crore shares. The technical textile machinery maker reported a 64% YoY jump in FY26 net profit and a 25% increase in revenue, ahead of its market debut.

JK Cement Ltd reported a 15.3 percent decline in net profit for the June quarter. The company posted Rs 274.62 crore profit, down from Rs 324.25 crore last year. Revenue from operations increased by 20.25 percent to Rs 4,031.72 crore. Total expenses rose by 25.5 percent during the same period. JKCL’s total income, including other income, grew 19.41 percent.

RBL Bank reported a 27% YoY rise in Q1 FY27 standalone net profit to Rs 254 crore, while net interest income increased 12%. The lender said Emirates NBD’s majority ownership has expanded its growth opportunities, with management expecting stronger momentum in corporate banking, trade finance and cross-border business.

Wall Street declined as AI-driven chip stocks extended losses, triggering broader risk-off sentiment. Semiconductor shares saw sharp weekly declines, while energy stocks gained on rising oil prices amid Middle East tensions. Despite strong early earnings, including bank results, weak forecasts from companies like Netflix weighed on investor confidence.

Reliance Retail’s Q1 revenue rose 8.2% despite the FMCG demerger, while net profit fell 14.2% as e-commerce investments pressured margins. Reliance Consumer more than doubled revenue, driven by Campa and Independence, with rapid growth across grocery, electronics and digital commerce.

JSW Steel’s profit more than doubled year-on-year to Rs 4,696 crore in the June quarter. Robust revenue growth and lower finance costs aided the company’s strong financial performance. Consolidated revenue from operations rose around ten percent on year to Rs 47,364 crore. Total expenses rose less than four percent on year, helping boost earnings. The company retained its capital expenditure guidance for the current year.

The company informed the stock exchanges that it allotted 31,83,961 equity shares to anchor investors at Rs 424 per share, the upper end of the IPO price band.