TOP NEWS

War update: Qatar Prime Minister has met US envoys Steve Witkoff and Jared Kushner in Doha. Iranian negotiators are also in the Qatar capital, although no direct talks between the two sides are planned. Tehran remains firm in its position on the next phase of negotiations and reiterated that Iranian side will not enter talks on a final agreement until hostilities in Lebanon end, the US waives oil sanctions and releases frozen Iranian funds.  Iran would continue to assert sovereignty over the Strait of Hormuz, calling it the country's "greatest instrument of power" and rejecting US claims that Tehran had militarized the strategic waterway. Brent crude is at $73/ barrel. Asian markets opened mixed.

Va tech Wabag: wins large order for expanding Vienna’s Donauinsel Water Works, Austria. New facility design capacity: 1,000 litres per second. (~86 MLD). This large international order (valued between USD 30-75 million, or approximately (₹250-625 Cr) adds significantly to their order book. It marks a successful entry into Austria and bolsters their European footprint, showing they can win complex utility contracts in developed markets. It should help reduce heavy reliance on Middle Eastern projects, providing a more balanced revenue mix. Key monitorable would be further wins from Europe. Positive

Cupid: Highlighted business update and expects Q1FY27 REV to cross 150 Cr, compared to 65 Cr YoY indicating a growth of 131% yoy. Management has also increased FY27 REV guidance from 600 Cr to 660+ Cr, which is a 10% upward revision indicating an overall growth of 69% over FY26. Positive

Paras Defense: signed an intellectual property (IP) license agreement with Tandem Defense LLC, a wholly owned subsidiary of Autonomous Power Corporation (Powerus), for the Guardian-1 Interceptor technology. Under the agreement, Tandem Defense LLC has granted Paras Defence an exclusive, non-transferable, and non-sublicensable license to use the licensed intellectual property within India for manufacturing and commercializing the products in the country. Positive

HUDCO: In a quarterly business update for Q1FY27, HUDCO reported a jump in its preliminary business performance for the April-June period.

Its loan sanctions nearly doubled to Rs 65,485 crore sequentially from Rs 33,904 crore in the previous quarter and loan disbursements increased to Rs 16,377 crore from Rs 12,812 crore, up 27.8% YoY.

KPIT Technologies: Expect Q1 performance to be lower than expected previously due to sudden drop in revenues in last few weeks, see decline of 1% YoY in USD reported revenues. Expect EBITDA margin, profit margin to decline sequentially. Confident to demonstrate sustainable, profitable growth in 2HFY27. See sequential quarterly growth in Q4FY27. Negative

Kotak Mahindra Bank is acquiring Deutsche Bank's India retail, private banking, and wealth management businesses via a Business Transfer Agreement. The deal adds ~₹29,000 crore in advances, ~₹16,000 crore in deposits, and ~₹10,500 crore in investment AUM. Kotak will integrate approximately 150,000 affluent customers, 1,000 employees, and 16 branches into its network. Kotak will pay a headline purchase price of ~₹281.7 crore, along with a separate payment for the business's net funding position calculated at the expected closing date in September 2027. The acquisition of Deutsche Bank's consumer business directly accelerates Kotak Mahindra Bank's core strategy of scaling its affluent and SME franchises while bolstering its CASA deposits. Kotak's management identifies the affluent customer base, anchored by its recently launched 'Solitaire' proposition, as a primary driver for Savings Account (SA) and overall CASA growth. The acquired portfolio is primarily retail and wealth-focused, the infusion of approximately 1,000 experienced relationship bankers and complementary products, such as transaction banking and alternate assets, creates valuable synergies that Kotak can seamlessly leverage across its existing SME and institutional client base. Positive

Banking Sector: Bank credit recorded a robust annual growth of 17.7% in May 2026 as advances to large industries grew at an accelerated pace, along with sustained healthy expansion in the MSME sector, according to Reserve Bank data. The credit to agriculture and allied activities registered a y-o-y growth of 14.9 per cent while Overall Industry growth was at 17.5% YoY in which MSME growth stood at 22.5% YoY and credit to large industries was up 14.4% YoY. Retail loan growth remained at 15.4% YoY and was driven by 17.3% rise in vehicle loan and 105% YoY rise in gold loans. 

Prestige Estates Projects Limited: Prestige Estates has launched Phase 2 of Prestige Forest Hills at The Prestige City, Mulund (Mumbai). The phase includes 500 premium 3 & 4 BHK apartments across ~1.7 million sq. ft., with ticket sizes starting at ~Rs. 2.73 crore. The project has an estimated GDV of ~Rs. 2,200 crore, further strengthening Prestige’s residential pipeline in the Mumbai market.

Godrej Properties Limited: Godrej Properties has emerged as the highest bidder for a 4.95-acre residential land parcel in Sector 151, Noida, acquired for Rs. 331.75 crore. The project is expected to generate over Rs. 2,000 crore in revenue potential through premium residential apartments, further strengthening the company’s presence in the NCR market.

OTHER NEWS

Kaynes/ CG power: Finance Ministry panel to clear Rs 1.25 lakh crore outlay for India Semiconductor Mission 2.0.The approval is significant as it is higher than the outlay of Rs 76,000 crore earmarked for ISM 1.0.

Lemon Tree Hotels Limited: Lemon Tree Hotels has opened Keys Lite by Lemon Tree Hotels, Ajmer, marking its debut in Ajmer and becoming its 14th operational hotel in Rajasthan. The hotel will have 31 rooms (24 operational initially, 7 in Phase 2) and strengthens the company’s presence in Rajasthan’s spiritual and heritage tourism market.

ONGC NTPC Green Private Limited : Ayana Renewable, a wholly owned subsidiary of ONGC NTPC Green, has won a 193 MW wind power project in the Madhya Pradesh Power Management Company Limited tender. The project was secured at a tariff of Rs. 4.17/kWh, strengthening the group’s renewable energy portfolio.

Indian Hotels Company Limited (IHCL) will invest Rs.6,000-7,500 crore in capex over the next five years, Tata Group Chairman and Non-Executive Director N Chandrasekaran said at the company’s annual general meeting (AGM) on Tuesday.

OMCs:  The government has lowered windfall taxes on exports of diesel and aviation turbine fuel (ATF) as global oil prices ease, while raising the duty on petrol exports, according to a government order. The duty on diesel exports has been cut to Rs 8.5 per litre from Rs 14 per litre, while the duty on ATF exports has been reduced to Rs 7.5 per litre from Rs 12.5 per litre. The export duty on petrol has been increased to Rs 4 per litre from Rs 1.5 per litre to ensure adequate domestic supplies. The revised rates will come into effect from July 1.

The government is in the final stages of issuing an approval for the proposed joint venture (JV) between Dixon Technologies and Chinese smartphone maker Vivo, according to people familiar with the matter.

Bank of Maharashtra: Company to consider raising Equity Capital aggregate up to Rs 7,500 crore through various modes.

Muthoot Microfin: Issue of Non-Convertible Debentures aggregating up to Rs 3,000 crore by way of private placement and Rs 1,000 crore through Public Issue during the Financial Year 2026-27.

RailTel Corporation of India: Received order from Mahanadi Coalfields for establishment of MPLS VPN Network for MCL on a Rental Basis for a Period of 60 Months, size of Rs 107.60 crore.