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Sebi approved nine IPOs across sectors like engineering, gaming, and drones to boost the primary market. Firms including Laxyo, Garuda Aerospace, PlaySimple Games, Rediff.com, and Jakson Green got the green light to list. These companies now prepare to launch their issues, as the pipeline for new public offerings grows wider.
Doximity shares soared 60% on Friday after the company highlighted its clinical AI performance. CEO Jeff Tangney said, "Doximity's clinical AI recorded a 4.8% error rate in physician-focused testing, compared with 13.6% for what he called Anthropic's best model." Investors cheered the news, ignoring the company’s mixed quarterly financial results.
SBI, Titan, Oil India and Hindalco led a busy Friday as companies reported June-quarter numbers. SBI posted a net profit of ₹21,121 crore, beating estimates. Titan saw profit surge 65% to ₹1,699 crore despite a revenue miss. Meanwhile, Oil India profit jumped 60% sequentially, while Hindalco stock climbed 3% after strong results.
Oil India reported a consolidated net profit of ₹4,027 crore in Q1 FY27, nearly doubling from last year. This growth came as the company produced more crude oil and saw strong earnings from Numaligarh Refinery. The firm also discovered natural gas in the Andaman Basin, marking a big milestone for them.
Shapoorji Pallonji raised ₹21,350 crore through a bond issue by Equizen Investments. Wealth management firms are now offering these debt instruments to wealthy individuals. One source said, “Anchor investors commit at the primary yield of around 18.95–19.05% on the three-year zero-coupon rupee bonds.” These bonds are backed by Tata Sons shares.
US stocks opened higher on August 7 after a weak July jobs report. The economy lost 23,000 jobs, which increased expectations that the Federal Reserve could lower interest rates soon. Technology stocks led the gains as investors also watched oil prices and developments in the Strait of Hormuz closely today.
The RBI proposed major changes to how non-banking financial companies offer revolving credit facilities to retail customers. These firms must now provide term loan-like products instead of flexi loans or overdrafts. This rule aims to ensure credit follows a clear repayment structure, as repaid amounts will no longer be available again.
Hindalco Industries Ltd beat Q1 estimates as net profit jumped to ₹7,013 crore. Managing director Satish Pai said, "We are going to be a lot more financially prudent." Despite strong results, the firm remains cautious about bauxite auctions. It will avoid paying high premiums to keep production costs under control.
Union Minister Nitin Gadkari said only 84 wayside amenities have EV charging stations on India’s highways. Rajasthan leads with 20 facilities, followed by Haryana with 18. While the government plans these sites every 40 to 60 km, many states saw no new charging points added during the 2025-26 financial year.
Karnataka MPs and areca growers met Union Home Minister Amit Shah in Delhi on Friday. They urged him to stop illegal arecanut imports, which hurt native farmers. The delegation said growers already face high costs and crop diseases. They asked for stricter checks at borders to protect the local market.
Congress leader Rahul Gandhi on Friday called E20 a "big issue" and said the fuel is destroying vehicles. He alleged that the blended petrol is stealing from citizens and linked it to corruption. Meanwhile, Union Minister Hardeep Singh Puri said India’s fuel network remains stable and resilient despite recent concerns.
Kaynes Technology India Ltd reported a net profit of ₹56 crore for the first quarter of FY27, which fell 24.4% from last year. Although revenue grew 40.5% to ₹946 crore, the profit missed market estimates. Shares of the company ended at ₹3,850.00, up by ₹28.00 on the BSE Friday.