News Overview

Kusumgar IPO's Grey Market Premium (GMP) is ₹159 on 10 July 2026, suggesting an estimated listing gain of nearly 38%. Meanwhile, the IPO has received strong investor interest, with the issue subscribed 28.63 times by Day 2.

Kalyan Jewellers witnessed a remarkable three-day rally, gaining nearly 34% and adding around ₹11,500 crore to its market capitalization. The surge came after Citigroup reiterated its Buy rating and maintained a ₹750 target price, highlighting the company's long-term growth potential despite softer-than-expected quarterly revenue.

Ather Energy shares climbed to a new 52-week high as investors cheered the company's fundraising clarification, 95% year-on-year sales growth in June 2026, and accelerating electric vehicle adoption in India. Strong trading volumes and bullish momentum further supported the stock's rally.

Indian benchmark indices rebounded on July 9, 2026, after the previous session's sharp sell-off. Nifty climbed 80.75 points while Sensex added 238.22 points, supported by strong gains in Realty, PSU Banks, and Consumer Durables. Stable crude oil prices, buying in heavyweight stocks, and Morgan Stanley's positive outlook on Indian equities boosted market sentiment.

The ₹11,692.91 crore SBI Funds Management IPO opens for subscription on July 14, 2026. Backed by SBI and Amundi, the country's largest AMC has reported strong financial growth and a healthy grey market premium ahead of listing.

Tata Consultancy Services (TCS) reported a mixed yet stable performance for Q1 FY27, with revenue rising to ₹72,275 crore, net profit at ₹13,349 crore, AI revenue growing 13.6% sequentially, and total contract value reaching $9.5 billion.

HDFC Bank has reduced MCLR by 5 bps on select tenures from July 7, 2026. While older MCLR-linked home, car, and personal loan borrowers may benefit, repo-linked loan customers are unlikely to see any immediate reduction in EMIs.

Kalyan Jewellers reported a strong Q1 FY27 with 38% revenue growth, robust same-store sales, and triple-digit growth at Candere. Citi upgraded the stock to Buy with a ₹750 target, driving a sharp rally in the company's shares.

Kusumgar IPO GMP remains steady at ₹160 on July 9, 2026, with an estimated listing price of ₹579 and an expected gain of 38.19%. The IPO has been subscribed 5.46 times on Day 2, reflecting strong investor interest, though GMP remains an unofficial market indicator.

India Tourism Development Corporation (ITDC) shares surged to a new 52-week high as investors cheered the long-term growth prospects of India's tourism and hospitality industry. Strong trading volumes, government tourism initiatives, and rising domestic travel demand have boosted sentiment around the PSU stock.