Financial Sector

Jio Financial Services reported a strong Q1 FY27 performance with consolidated net profit rising 156% year-on-year to ₹830 crore. The company saw robust growth in lending, payments, asset management, and insurance businesses, strengthening its position in India's financial services sector.

Indian benchmark indices ended largely unchanged on July 16, 2026, with IT and Auto stocks supporting the market while Realty and Financial Services lagged. Rising Brent crude prices, fresh US-Iran tensions, weak global cues, and profit booking ahead of the Q1 earnings season kept investor sentiment cautious despite selective sectoral gains.

SBI Funds Management IPO GMP today is ₹90 with an estimated listing price of ₹664. The IPO received 4.92x subscription, led by strong NII demand. Read the latest GMP updates, subscription details, and listing expectations.

ICICI Prudential Life reported strong Q1 FY27 results with a 28% rise in net profit to ₹386 crore. Growth was supported by higher premiums, strong VNB performance, retail protection growth and improved solvency ratio.

HDFC Asset Management Company (HDFC AMC) reported a strong Q1 FY27 performance with a 12% rise in net profit, higher revenue, robust AUM growth and continued strength in retail investor participation. The company’s quarterly average AUM crossed ₹93 lakh crore, supported by strong equity fund performance and SIP inflows.

Groww shares rallied more than 7% in intraday trade after the company posted better-than-expected Q1 FY27 earnings. EBITDA and net profit surpassed Street estimates, while EBITDA margins improved significantly, driving buying interest in the stock.

The SBI Funds Management IPO witnessed steady investor participation on Day 2, with the issue subscribed 1.25 times overall. Meanwhile, the Grey Market Premium (GMP) stands at ₹93, indicating an estimated listing gain of over 16% based on the upper price band

The SBI Funds Management IPO opened on July 14, 2026, with the latest Grey Market Premium (GMP) slipping to ₹92 per share. Here's the latest GMP, expected listing price, potential listing gains, and why the IPO remains in focus.

Sensex and Nifty ended nearly flat after recovering from sharp early losses. A strong rally in TCS, HCL Tech, and the IT sector offset weakness in FMCG, metals, and defence stocks amid geopolitical concerns and higher crude oil prices.

The SBI Funds Management IPO has been revised to ₹9,812.90 crore after promoters sold a portion of their stake to institutional investors through a pre-IPO placement. Here's why the issue size changed, who invested, and what retail investors should know before applying.