Stocks

Alpine Texworld will open its IPO on July 14, offering 12 million new shares to raise Rs 126.25 crore at a price band of Rs 100–105 per share. The company, which operates in fabric dyeing, processing and weaving, reported FY26 total income of Rs 350.18 crore, up about 47% year on year, and profit after tax of Rs 21.72 crore, up 152%. Proceeds are slated for a new weaving facility, repayment of certain borrowings and general corporate purposes. The deal is a domestic fundraise by an unlisted Indian textile company and does not involve listed global traditional assets.

S&P Global Ratings and ICRA on Friday assigned YES Bank long-term ratings of BB+ with a stable outlook, while ICRA also rated the lender’s infrastructure bonds at ICRA AA. The action follows Sumitomo Mitsui Banking Corp. (SMBC) completing a 24.9% strategic stake buy and ongoing improvement in asset quality, according to the rating agencies. YES Bank shares rose 1.39% to Rs 23.98, and were up 25% over three months. The agencies cited comfortable capitalisation, deposit growth and improving net interest margin, while flagging below-average spreads and a high cost-to-income ratio as constraints.

Nova Iron and Steel Limited (BSE: 513566) said it received a Provisional Attachment Order No. 15/2026 from India’s Directorate of Enforcement on June 25, 2026. The company said the order does not materially affect day-to-day operations, and it is assessing the implications and preparing legal recourse. On the same date, Olympian Finvest increased its holding to 12.92% through a promoter-group restructuring, an internal transfer that does not change control or the company’s fundamentals. The enforcement action remains a separate adverse development that adds compliance and operating uncertainty.

Tata Consultancy Services (TCS) reported Q1FY27 consolidated net profit up 5% year on year to Rs 13,349 crore, while revenue rose 14% to Rs 72,275 crore. Constant-currency revenue grew 0.4% quarter on quarter and EBIT margin stood at 24%, with total contract value at $9.5 billion including an $800 million AI megadeal and AI services at an annualised run rate of $2.6 billion. Brokerages largely maintained or revised their ratings and target prices, and the stock rose 3.5% in a single session.

Tata Consultancy Services said quarterly revenue beat market estimates, supported by higher IT spending from banking clients and foreign-exchange gains from a weaker rupee. Analysts said steady deal wins and rising AI revenue are improving visibility for a gradual earnings recovery. The update lifted TCS shares 3.3% in early trade.

Dr Reddy’s Laboratories is facing risks of delayed commercialisation and a possible loss of first-mover advantage after a disruption in the supply of its generic semaglutide. The stock fell 3% on July 10 to 1,230 rupees, the biggest decline on the pharma index (.NIPHARM). Analysts have flagged the possibility of short-term earnings downgrades.

Apollo Micro Systems said it has signed an agreement to buy Premier Explosives’ promoters’ 41.33% stake in an all-cash transaction valued at around Rs 1,550 crore. The company will also launch a mandatory open offer to acquire up to 26% of Premier Explosives’ fully diluted voting equity share capital from eligible public shareholders. The deal is expected to close in the quarter ending December 2026, subject to approvals including clearance from the Competition Commission of India (CCI). The announcement pushed Apollo Micro Systems shares up 5% to Rs 418.

Anand Rathi Wealth reported Q1FY27 profit after tax of Rs 116 crore, up 24% year on year, as total revenue rose 18% to Rs 336 crore. Assets under management climbed 21% to Rs 1,06,300 crore, crossing the Rs 1 lakh crore mark, while net inflows were Rs 2,743 crore. The company said the headline figures exclude fair value gains on investments, ESOP expenses and the related tax impact to allow a like-for-like comparison. The stock is up 37% in 2026 and has doubled over the past year.

Dixon Technologies has received Indian government approval under Press Note 3 for its joint venture with Vivo India, with Dixon holding 51% and Vivo 49% to manufacture Vivo smartphones as an OEM. Management expects the venture to produce about 6 million devices in FY27 and 20 million in FY28, and has guided to a potential revenue opportunity of around ₹30,000 crore. Brokerages broadly raised targets after the clearance, including JPMorgan lifting its price target to ₹16,700. The approval removes a long-standing regulatory overhang and is viewed as a meaningful earnings catalyst.

Elevra Lithium (ASX: ELV) reported FY26 June-quarter output of 54,479 tonnes, its second-highest quarterly result, but sales were 33,977 tonnes and end-period inventory rose to about 40,863 tonnes. The company said its realised lithium price averaged just US$919 per tonne, well below the current spot market, because sales were priced under legacy contracts linked to average market prices from October 2025 to March 2026. The shares fell 4.54% on the day, underperforming the broader market.