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Oil prices rose on Friday as U.S.-Iran tensions grew near the Strait of Hormuz. Brent crude climbed to $85.28 a barrel after U.S. air strikes hit targets near Iran. Fatih Birol said, "Oil security is still a critical issue." Many fear supply risks as the conflict continues to impact global markets.
The BSE Sensex jumped over 600 points on Friday, while the Nifty 50 topped 24,200. Strong buying in IT stocks and upbeat earnings from Jio Financial Services lifted indices. Ponmudi R said, "a sustained move above that level could strengthen bullish momentum." Investors got busy with large-cap stocks despite weak global cues.
Chinese President Xi Jinping spoke at the World Artificial Intelligence Conference in Shanghai on Friday. He said China wants to ensure fair AI access for developing nations to avoid new historical injustices. China plans to work with many countries, including BRICS members, to share AI opportunities and build global capacity.
ITC Hotels acquired Welcomhotel Ahmedabad for Rs 155 crore, marking its second purchase in three months. The company also reported a 36 per cent jump in first quarter profit. Managing director Anil Chadha said, "Ahmedabad continues to be one of India's most dynamic commercial and industrial centres." Growth plans remain strong.
An AC sleeper bus service between Alipurduar and Calcutta started on Thursday. The bus has 34 berths and a bio-toilet. Samrat Sanyal said, "The new service is expected to benefit people who regularly travel between Alipurduar and Calcutta." Many passengers now use this comfortable option for their long-distance travel needs.
The National Highway Traffic Safety Administration on Thursday denied a Tesla petition to avoid a recall fix for headlight issues. The recall covers about 19,900 2017-2023 Tesla Model 3 and Model Y vehicles. The agency said it disagreed with Tesla and warned that bright lights could cause glare for other drivers.
The rupee opened at Rs 96.31 against the US dollar today. In corporate moves, Maruti Suzuki said it will challenge a Raipur consumer commission order regarding a vehicle replacement. Meanwhile, Tech Mahindra bought a 20 percent stake in Tech Mahindra Arabia for Rs 206.2 crore to grow its business reach.
Reliance Industries reports its Q1FY27 results today, with analysts expecting revenue of Rs 2.99 lakh crore. While revenue should rise, net profit may fall 10.1% to Rs 19,851.5 crore. Growth in the O2C business and Reliance Retail remains a focus, even as West Asia conflict impacts the oil and gas segment.
Private companies are reshaping India's space ambitions by building rockets and satellites to capture a bigger global market share. Since 2020, over 400 startups got $500 million in investment. Pawan Chandana said, "It's a milestone for Skyroot and for India." The nation now aims to grow its space economy fivefold.
Caliber Mining and Logistics Limited raised Rs 134.99 crore from anchor investors ahead of its IPO. The company allotted shares at Rs 424 each to marquee names like Abakkus and Helios. The public issue opens on Friday, July 17, 2026, and many institutional investors showed strong interest in the firm.
Luxembourg-based LetterOne appointed Rahul Mukim to lead its $2 billion investment push in India. The firm plans to focus on the healthcare and energy sectors. Mukim, who previously led private equity for Ontario Teachers' Pension Plan, will help the company build an on-ground presence after planning for over a year.
HCL Tech shares will be in focus on Friday after the company signed a seven-year deal with Guardian Life Insurance. HCLTech will acquire Guardian India, and nearly 2,000 employees will join the firm. This partnership aims to use AI to improve operations and support long-term business growth for the insurer.