July 07, 2026

 

TOP NEWS

 

Saudi Aramco: Saudi Arabia has cut the August official selling price (OSP) of its Arab Light crude for Asian buyers by US$11/barrel, the largest reduction in over 20 years, setting the price at a US$1.50/barrel discount to the regional benchmark. The sharp cut reflects weaker Asian demand, normalisation of crude exports after easing Middle East tensions, and higher supply following OPEC+ production increases, which is expected to intensify competition among Gulf oil producers in Asia. +ve for Paints, Tyres, Airlines

 

Hexaware Technologies announced a strategic partnership with NYSE-listed SmartRent, a technology provider for apartment communities and smart operations solutions for the rental housing industry. The partnership aims to drive an AI-native transformation across key business areas of the SmartRent program through three connected workstreams. Positive

 

Varun Beverages : The company's subsidiary, VBL Industries (Kenya), has entered into an agreement to acquire the value-added dairy beverages, juices, and packaged drinking water business of Devyani Food Industries (Kenya) for $32 million (Rs 305 crore). Positive

 

Titan :  Leading branded jeweller maker reported a 41% year-on-year growth in its consumer businesses for Q1 FY27, driven by strong performance across jewellery, watches, eyecare and emerging segments, along with expansion in its retail network. Positive

 

Cochin Shipyard OFS opens today with floor price at Rs 1,400 per share, Government to sell 5.04% stake via OFS (floor price is below CMP). Negative

 

Blue Jet Healthcare : The company has launched a ₹600 crore qualified institutional placement (QIP) to raise capital for growth. The issue is priced at an indicative Rs. 506 per equity share, reflecting a 10% discount to its Monday closing price of Rs.572 on the NSE. Positive

 

 

MACRO WRAP

  • US ISM Services PMI slipped to 54.0 in June 2026 from 54.5 in May, still signaling solid but slower growth. Business activity and new orders cooled, but employment returned to expansion at 51.2, its strongest gain since 2024. Price pressures eased to a four-month low, while respondents reported generally robust business conditions despite inflation concerns tied to the Middle East conflict. Positive for USD.
  • The S&P Global US Services PMI rose to 51.2 in June 2026 from 50.7, the fastest growth since before the Middle East war. Germany’s Construction PMI rose to 44.8 in June 2026 from 42.4, indicating a slower contraction. Housing remained weakest.
  • The DJIA, the S&P500, and the Nasdaq Composite Index rose 0.3%, 0.7%, and 1.1% respectively. The Philadelphia semiconductor index rose 2.2%. The Eurostoxx 50 dipped 0.2%. The Dollar Index was little changed at 100.85. EUR-USD was also little changed at around 1.1440. The US 2Y yield fell 3bp to 4.11% and the 10Y yield edged down 1bp to 4.47%. The Fed funds futures are pricing in a total hike of 29bp for this year and a total rate hike of 25bp by October 2027. Brent crude oil dipped 0.2% to near USD72.00, closing at its lowest level since the ceasefire. Gold fell 0.3% to USD4,165.
  • we get the ADP weekly employment change for 20 June, May trade balance, and the NY Fed 1-yr inflation expectations for June.

 

OTHER NEWS

IKS: Inventurus Knowledge Solutions Limited informed the stock exchanges that it has issued a corporate guarantee of up to USD 603.75 million in favor of lenders supporting financing facilities of up to USD 575 million availed by its wholly owned subsidiary, Inventurus Knowledge Solutions, Inc. (IKS Inc.), for the acquisition of TruBridge, Inc. and related purposes. The guarantee will be recorded as a contingent liability in the Company's financial statements. The company further stated that IKS Inc. has used a portion of the new facility to refinance its existing USD 70 million term loan. As a result, the earlier corporate guarantee of USD 77 million issued for the refinanced loan has been released. The disclosure was made pursuant to Regulation 30 of the SEBI Listing Regulations.

Info Edge (India) Limited: The company announced that its Board has approved the acquisition of the remaining 45.36% stake in Coding Ninjas (Sunrise Mentors Pvt. Ltd.) from its founders for approximately Rs 39.91 crore. Upon completion of the transaction, Coding Ninjas will become a wholly owned subsidiary of Info Edge. The acquisition is aimed at strengthening synergies between Naukri and Coding Ninjas, supporting growth initiatives and AI-focused learning offerings. The Board also approved an additional commitment of up to Rs 180 crore to B8 Fund I, a Category II Alternative Investment Fund sponsored by the company’s wholly owned subsidiary. This is over and above the previously committed Rs 250 crore and aligns with Info Edge’s long-term investment strategy focused on supporting growth-stage technology companies in India.

 

Seamless pipes - The government has extended the anti-dumping duty on seamless tubes, pipes and hollow profiles of iron/alloy/non-alloy steel till January 27, 2027. The move is positive for domestic seamless pipe manufacturers as it will protect them from cheaper imports, mainly from China. Positive : Maharashtra Seamless, Kirloskar Ferrous, Jindal Saw and Ratnamani Metals & Tubes.