19/07/26, Three PSU Indian Banking Stocks trading below Book Value

Banking is becoming more important as the global economy turns faster, more digital and more interconnected. Businesses need funding to expand, consumers depend on credit for major purchases, and digital payments now support everyday transactions. Banks also help move savings into productive investments. As economic activity grows, the need for banking services becomes difficult to avoid.

India’s banking sector is expanding with the country’s digital and economic growth. UPI has changed how people make payments. Formal credit is reaching more individuals and small businesses. Rising incomes, urbanisation and infrastructure spending are also increasing the demand for loans. At the same time, technology is helping banks serve customers beyond traditional branches.

Banking stocks are important for stock market investors because banks sit at the centre of the economy. Their loan growth can reflect business and consumer demand. Their asset quality can indicate financial stress. Their profitability can also offer clues about the broader economic cycle. This makes banking stocks an important part of many investment portfolios.

In this article, we look at three of India’s cheapest banking stocks using the price-to-book value, or P/BV, ratio. The ratio compares a bank’s market price with its book value per share. It is widely used for banks because their main assets and liabilities are financial and appear on the balance sheet. A lower P/BV ratio can signal a cheaper valuation. However, investors must also examine asset quality, profitability and growth prospects.

👉1 Bank of India: Can Growth and a 3.2% Dividend Yield Support a Re-rating?

Bank of India is a public sector bank with operations in India and overseas markets. Its business spans retail, agriculture, MSME, corporate and international banking.

Bank of India Financial Performance

Metric FY26

P/BV 0.7x

Dividend yield 3.2%

NII growth 3.0%

Net profit growth 14.0%

Net NPA 0.56%

RoE 12.4%

Source: Screener.in and Q4 Earnings call transcript

Bank of India trades at a price-to-book value of 0.7x. This is below the peer median of 1.0x. The stock also offers a dividend yield of 3.2% as on July 17, 2026. This combination places it among the cheaper banking stocks. However, improvement in margins will be important for a sustained re-rating.

The bank reported steady earnings growth in FY26. Net interest income rose 3% year-on-year (YoY) to Rs 25,172 crore. Net profit increased 14% to Rs 10,527 crore. Non-interest income also grew 10% to Rs 9,874 crore. However, global net interest margin fell to 2.52% from 2.82% in FY25.

Business growth was stronger than income growth. Global advances increased 15.8% to Rs 7.7 lakh crore. Global deposits rose 13.6% to Rs 9.3 lakh crore. Retail, agriculture and medium, small and micro enterprises (MSME) advances grew 19.1%. These segments accounted for 58.7% of advances.

FY27 Credit Pipeline and Corporate Lending Projections

For FY27, the bank expects global advances to grow by 15-16%. Global deposit growth is expected at 13-14%. It has a credit pipeline of Rs 65,000-70,000 crore. Around Rs 50,000 crore relates to the corporate segment. The pipeline includes roads, power, data centres, electric vehicles, solar panels, biogas and gas transmission projects.

Bank of India is also expanding its branch network. It opened 200 branches in FY25 and another 200 in FY26. More than 200 new branches are planned in FY27. These branches will focus on deposits, retail loans and wealth-management products.

Deposit mobilisation remains central to the expansion. Under Project UDAAN, the bank is tracking branch-level targets for current accounts, savings accounts and retail term deposits. It has also started Zonal Deposit Centers. The bank aims to increase current account savings account (CASA) deposits to around Rs 3.3 lakh crore in FY27 from Rs 3 lakh crore in FY26.

International operations account for about 14% of the bank’s loan book. Margins in this portfolio remain low at around 1.10-1.30%. The bank is therefore focusing on domestic retail, MSME and mid-corporate loans, where yields are better. It is also seeking a domestic or international partner for its mutual fund business.

Asset Quality Gains vs Core Margin Compression

Asset quality continued to improve. Gross non-performing asset (NPA) declined to 1.98%, while net NPA fell to 0.56%. The slippage ratio improved to 0.83%. Bank of India earns a return on equity (RoE) of 12.4% and a return of capital employed (RoCE) of 5.9%.

The 0.7x P/BV and 3.2% dividend yield strengthen the stock’s value proposition. Loan growth and improving asset quality offer further support. However, falling margins remain a concern. A recovery in net interest income growth and margins will be central to narrowing the valuation discount.

In the past year, the share price of Bank of India is up 23.2%.

Bank of India 1 Year Share Price Chart

Source: Screener.in

👉2 Central Bank of India: Credit Growth Outpaces Competitors as Slippages Soften

Central Bank of India has a strong retail-focused lending model. Retail, agriculture and MSME loans account for a major share of its advances.

Central Bank of India Financial Performance

Metric FY26

P/BV 0.8x

Dividend yield 3.7%

NII growth 2.0%

Net profit growth 15.4%

Net NPA 0.49%

RoE 11.9%

Source: Screener.in and Q4 Earnings call transcript

Central Bank of India trades at a price-to-book value of 0.8x. This is below the peer median of 1.0x. The stock also offers a dividend yield of 3.7% as of 17 July 2026. The discount places it among the cheaper banking stocks. However, further improvement in earnings will be important for a re-rating.

The bank reported steady profit growth in FY26. Net interest income rose 2% YoY to Rs 14,171 crore. Net profit increased 15.4% to Rs 4,369 crore. The annual profit growth came despite a one-time deferred tax impact of Rs 632 crore.

Credit growth remained the main driver. Gross advances increased 18.8% to Rs 3.4 lakh crore. Retail, agriculture and MSME loans together grew 21%. Retail loans rose 25.7% and crossed Rs 1 lakh crore. Agriculture and MSME advances grew 17.6% and 17.1%, respectively.

Operational Outreach and Targeted Credit Growth for FY27

The bank expects advances to grow by 14-16% in FY27. Deposit growth is projected at 10-12%. It has conducted outreach programmes at more than 100 locations to generate retail, agriculture and MSME business. The bank has also identified 225 branches with MSME potential and more than 300 branches for agriculture lending.

Expansion is also planned in corporate banking. The bank intends to open more corporate finance branches and mid-corporate branches. More than 900 officers are expected to join in October 2026. They will be deployed at branches with higher credit potential. A separate sales and marketing team is also being set up.

Technology remains another area of investment. Overall, Central Bank of India has budgeted Rs 1,442 crore for capital spending and Rs 1,276 crore for revenue expenditure in FY27. It is also setting up a wealth-management division. The bank is also strengthening its centralised forex operations and digital account-opening facilities.

Improving Asset Ratios and Capital Spending Roadmaps

Asset quality improved during FY26. Gross NPA declined by 51 basis points to 2.67%. Net NPA stood at 0.49%. The slippage ratio fell to 1.16% from 1.45%. Management aims to bring it below 1% in FY27. The bank earned a RoE of 11.9%.

At 0.8x book value, the stock continues to trade below the peer median. Its 3.7% dividend yield adds to the value proposition. Strong credit growth and improving asset quality offer support. However, net interest income grew at a slower pace than advances. Maintaining margins above 3% will therefore be important for narrowing the valuation discount.

In the past year, the share price of Central Bank of India is down 15.4%.

Central Bank of India 1 Year Share Price Chart

Source: Screener.in

👉3 Bank of Baroda: Re-Rating Outlook Anchored to 3.4% Yield and Margin Recovery

Bank of Baroda is one of India’s larger public sector banks, with a sizeable domestic and international presence. It serves retail, corporate, MSME and rural customers across markets.

Bank of Baroda Financial Performance

Metric FY26

P/BV 0.8x

Dividend yield 3.4%

NII growth 2.5%

Net profit growth 2.2%

Net NPA 0.45%

RoE 12.7%

Source: Screener.in and Q4 Earnings call transcript

Bank of Baroda trades at a price-to-book value of 0.8x. This is below the peer median of 1.0x. The stock also had a dividend yield of 3.4% as of 17 July 2026. The discounted valuation places it among the cheaper banking stocks. However, margins and deposit growth will shape any re-rating.

As on 31st March2026 the bank’s global business stood at Rs 30.8 lakh crore. This was an increase of 13.9% YoY. Global advances rose 16.2%. Domestic advances grew 14.5%, while international advances increased 24.4%.

Retail, agriculture and MSME lending remained the main growth drivers. The organic retail book grew 17.9% and crossed Rs 3 lakh crore. Agriculture loans increased 20.7%, while organic MSME loans rose 15.6%. Corporate lending grew at a slower 11%

For FY26, net interest income rose 2.5% YoY to Rs 47,682 crore. Net profit increased 2.2% to a record Rs 20,021 crore. However, operating profit declined 0.5% to Rs 32,259 crore. Global net interest margin stood at 2.89% for the year.

CASA Deposit Mobilisation Challenges and Yield Pressures

Bank of Baroda expects loan growth of 12-14% in FY27. Deposit growth is projected at 10-12%. Total deposits grew 12% in FY26. However, term deposits increased faster than low-cost deposits. Domestic CASA grew 9.8%, while term deposits rose 14.8%. This mix could keep the cost of funds under pressure.

The bank is also expanding beyond traditional lending. It raised nearly Rs 10,000 crore through green infrastructure bonds. Its primary dealer subsidiary began operations on 1 April 2026. The bank has committed Rs 2,000 crore to this business. It also plans to establish a pension fund. Management expects this process to take six to nine months, subject to regulatory approvals.

International operations remain an important part of the business. Advances outside India grew 24.4% during FY26. The portfolio includes operations in the US and the Middle East. Management said the international book remains diversified. However, geopolitical risks will require monitoring.

Loan Growth Balancing International Book Risks

Asset quality continued to improve. Gross NPA declined to 1.89%, while net NPA fell to 0.45%. The FY26 slippage ratio improved to 0.72%. The bank reported a RoE of 12.7% and a RoCE of 5.6%.

The 0.8x P/BV and 3.4% dividend yield support the valuation case. Credit growth and asset quality are also favourable. However, the bank must protect margins as loans grew faster than deposits in FY26. This will be central to narrowing the discount to peers.

Conclusion

For now, the valuation discount across these banks comes with different trade-offs. Credit growth remains strong, while asset quality has improved. Dividend yields also offer some support. However, growth in net interest income has not always kept pace with the expansion in advances.

The next test will be funding this growth without putting further pressure on margins. Deposit mobilisation, particularly through low-cost CASA deposits, will be important. Investors must also track fresh slippages, credit costs and returns on equity.

A lower P/BV can indicate value, but it can also reflect weaker profitability or slower earnings growth. A sustained re-rating will depend on whether these banks can convert loan growth into stronger interest income and returns, while keeping asset quality under control.

👉india’s Cheapest Banking Stocks

Metric Bank of India Central Bank of India Bank of Baroda

P/BV 0.7x 0.8x 0.8x

Dividend yield 3.2% 3.7% 3.4%

FY26 NII growth 3.0% 2.0% 2.5%

FY26 net profit growth 14.0% 15.4% 2.2%

Net NPA 0.56% 0.49% 0.45%

RoE 12.4% 11.9% 12.7%

Peer median P/BV: 1.0x. Dividend yields are as of 17 July 2026.

Source: Screener.in and FY26 company

Article written by Ekta Sonecha

Source: Financial Express

19/07/26, SENSEX on positive note

19/07/26, I am in long on Nifty Bank

 

18/07/26, PostMarket REPORT

The Nifty 50 decisively broke above the six-session consolidation range of 23,800-24,300 and closed with gains of 1 percent on July 17, supported by above-average trading volumes. This came despite oil prices remaining elevated around $83 a barrel in a range-bound manner.

Along with improving momentum indicators, which had been signalling sideways movement in recent sessions, the benchmark index moved back above its 100-day EMA—a level it had failed to decisively surpass over the previous three sessions—and the midline of the Bollinger Bands. It also continued to hold firmly above the 20-day and 50-day EMAs throughout the recent consolidation phase.

The index now requires sustained follow-through buying above the 24,350-24,400 zone, which coincides with the 200-day EMA and serves as the immediate resistance area, to move towards the previous swing highs of 24,530-24,600. These levels are crucial for triggering a fresh leg of the rally towards 24,800-25,000. Until then, the index may remain in a consolidation phase, with immediate support placed in the 24,200-24,000 zone, according to experts.

The Nifty 50 opened higher and remained in positive territory throughout the session. The index gained strength as the day progressed, climbing to an intraday high of 24,367 before settling at 24,334, up 262 points, or 1.09 percent.

On the daily charts, the index formed a long bullish candle and climbed above the 61.8 percent Fibonacci retracement of the recent correction from 24,530 to 23,800, indicating a positive technical setup.

The RSI jumped to 58.48 with a positive crossover, while the MACD is on the verge of a bullish crossover, with its histogram showing fading weakness. Additionally, the DI+ crossed above the DI- on the ADX indicator, suggesting that bulls are gradually gaining the upper hand over bears.

"The overall trend remains positive as the index continues to trade above its critical moving averages. Additionally, the RSI has entered a bullish crossover, reinforcing the positive momentum," said Rupak De, Senior Technical Analyst at LKP Securities.

According to him, the index is likely to remain strong in the near term, with the potential to advance towards the 24,800 level. On the downside, immediate support is placed at 24,200, and a decisive fall below this level could trigger a phase of consolidation.

The weekly options data suggests that the 24,500-24,600 zone, where the maximum Call open interest is concentrated, is likely to act as the next resistance area for the Nifty 50. On the downside, 24,200, which has the maximum Put open interest, is expected to provide immediate support, followed by 24,000 as a next support, which has the second-highest Put open interest.

Meanwhile, the India VIX, the market's fear gauge, rose 2.08 percent to 13.15 after declining over the previous two sessions. However, it remains below alarming levels. A sustained decline below the 13-12 zone would provide greater comfort for the bulls.

Bank Nifty

The Bank Nifty also staged a strong breakout above its five-day consolidation range and moved above the midline of the Bollinger Bands (57,800), while consistently holding above all key moving averages during the recent consolidation. It outperformed the benchmark Nifty 50, surging 939 points, or 1.63 percent, to close at 58,521, led by strong buying in banking heavyweights.

The RSI climbed above the 60 mark with a bullish crossover, while the MACD moved up, although it remained below the signal line. The weakness in the MACD histogram also faded, indicating that bullish momentum is gradually strengthening.

According to Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities, the immediate resistance for the Bank Nifty is placed in the 58,700-58,800 zone, which coincides with its previous swing-high area. A sustained move above this zone could extend the pullback towards 59,200, followed by 59,600 in the short term.

On the downside, the immediate support for the Bank Nifty is placed in the 58,100-58,000 zone, he said.

Written by Sunil Shankar Matkar 

Source: Network18 

17/07/26, RELIANCE GROUP OF INDUSTRIES

 Reliance Industries Ltd (RIL) reported a stronger-than-expected performance for the June quarter, with double-digit growth across its key businesses--oil-to-chemicals (O2C), digital services and retail--helping the conglomerate weather one of the biggest energy-market shocks in recent years.

The company posted record recurring operating profit and its highest-ever recurring quarterly net profit, even as reported earnings were affected by a one-off gain in the year-ago period.

Consolidated revenue rose 25 percent from a year earlier to Rs 3.40 lakh crore, driven by robust momentum across O2C, digital services and retail, all of which delivered double-digit revenue growth.

Recurring consolidated EBITDA rose 10.1 percent from a year earlier to a record Rs 54,067 crore, while profit before tax increased 8.5 percent to Rs 30,630 crore.

Recurring profit after tax (before minority interest) climbed 6.1 percent to an all-time high of Rs 23,196 crore.

Reported profit, however, declined by 24.6 percent because the corresponding quarter last year included a one-time gain of Rs 8,924 crore from the sale of its stake in Asian Paints Ltd.

The company invested Rs 38,682 crore during the quarter, with operating cash flows comfortably funding capital expenditure. Net debt remained largely stable at Rs 1.23 lakh crore at the end of June.

"Reliance has made a steady start to FY27, with all businesses delivering strong operating performance. Our diverse business portfolio has once again demonstrated its resilience in a quarter which witnessed continuing geopolitical tensions and volatile commodity markets," said Chairman and Managing Director Mukesh Ambani.

Jio Platforms

Jio Platforms continued to be one of the biggest growth engines. Digital services revenue grew 20 percent from a year earlier, outpacing the core connectivity business as cloud computing, content, Internet of Things and managed services gained traction. EBITDA at Jio Platforms rose 15 percent to Rs 20,865 crore, with margins expanding to 53.3 percent. The telecom business ended the quarter with 533.3 million subscribers, including 285 million 5G users, while fixed broadband subscribers rose to 28.6 million. Average revenue per user (ARPU) increased 3.3 percent from a year earlier to Rs 215.6.

Reliance said data consumption remained strong, with total traffic rising 27 percent from a year earlier to 69 exabytes. JioAirFiber retained its global leadership with more than 14 million subscribers, while the company added more than 73 million 5G users and 8.6 million fixed broadband customers over the past year.

"Jio's performance across mobility, home broadband and enterprise services remained strong, driving healthy earnings growth of 15% Y-o-Y. During the quarter, Jio Platforms Limited filed its DRHP with SEBI, a significant step towards its public listing," said Ambani in a statement.

Anshuman Thakur, Senior Vice President of Jio Platforms, said that digital services growth outpaced connectivity growth, a trend seen over the last several quarters. “It's of a smaller base, but nonetheless, it's growing and growing well,” he said.

He further added that 5G data traffic is now one and a half times the 4G data traffic on the network, growing much more rapidly.

“Another key focus for us has been migrating more customers from 2G to 4G and 5G. We are continuing to drive this transition by expanding digital offerings through JioBharat devices, offering affordable plans, and working closely with OEM partners. This remains a strategic priority for us,” said Thakur.

Commenting on the Jio Platforms results, Akash M Ambani, Chairman of Reliance Jio Infocomm, said, “Jio has established itself as a deep tech company and demonstrated the velocity of innovation across multiple advanced technologies. This is underlined by our strong patent portfolio which has been recognised globally. We intend to use these technologies to offer an ever-expanding bouquet of services to every citizen of India and drive industry-leading growth for many years to come.”

Retail & FMCG

Reliance Retail Ventures Ltd also delivered healthy underlying growth, with grocery, consumer electronics and fashion all expanding at a double-digit pace. Revenue from the retail business rose 7.4 percent to Rs 90,408 crore, while adjusted for the demerger of Reliance Consumer Products, gross revenue increased 11.6 percent.

EBITDA of Reliance Retail fell 1.1 percent to Rs 6,309 crore, with margins narrowing by 80 basis points to 7.9 percent due to scale-up of digital commerce.

The retail network added 252 stores during the quarter, taking the total to 20,169, while customer transactions jumped 46 percent from a year earlier to 568 million. Registered customers increased to 396 million.

"Reliance Retail delivered resilient growth this quarter, with steady performance across all consumption formats and channels. The consumer products business is growing rapidly with the portfolio of FMCG brands gaining real traction with Indian consumers," said Ambani.

Growth was particularly strong in digital commerce, where grocery orders more than doubled, while Ajio Rush continued to scale rapidly and the Shein platform maintained its growth momentum. JioMart continued to expand, servicing about 5,500 PIN codes across more than 1,200 cities. Consumer electronics also posted healthy gains, led by air conditioners, laptops, mobile phones and small appliances.

Dinesh Taluja, Chief Financial Officer, Reliance Retail said that overall user transactions have grown 46 percent, while revenue growth was about 12 percent indicating that the number of transactions is growing much faster than revenue. “That's a function of the growing contribution of digital commerce in overall revenues,” he said.

Taluja added that Reliance Retail is looking to grow its online businesses pretty rapidly this year. “We will scale this online business aggressively, but with the right unit economics,” said Taluja.

On the FMCG side, Ketan Mody, Chief Operating Officer and Executive Director of Reliance Consumer Products Ltd (RCPL), said that all FMCG categories showed significant momentum in the June quarter. “Home care, personal care, processed food, confectionery, chocolates-everything had started kind of giving us good growth,” he said.

RCPL now has more than 5,000 distributors and reaches more than 3 million retail outlets, he added.

Commenting on the retail and FMCG unit earnings, Isha M. Ambani, Executive Director, Reliance Retail Ventures Limited said, “Reliance Retail delivered resilient performance in Q1 FY27, with growth across the key consumption baskets. Our continued investment in digital commerce underscores the transformative power of our digital platforms. Our expanding customer base, widest store network, and growing omni-channel capabilities position us well to continue fulfilling every need, every dream, for every Indian, every day."

0ils to Chemicals

The O2C business benefited from a sharp recovery in transportation fuel cracks and stronger downstream chemical margins, lifting EBITDA by 17.2 percent to a four-year high of Rs 17,010 crore. The business was aided by significantly higher gasoline, diesel and aviation turbine fuel margins, although gains were partly offset by the windfall tax on fuels, under-recoveries in domestic fuel retailing and lower production due to planned maintenance shutdowns. The Jio-bp fuel retail network expanded to 2,221 outlets.

Anant M. Ambani, Executive Director, Reliance Industries Limited, said "Our Energy business delivered a stellar performance in a backdrop of macro challenges arising out of the largest energy market dislocation. The results reflect the inherent strength of deeply integrated O2C operations and our agile response to changes in the market environment. Along with delivering a superior financial performance, I am particularly proud of the efforts our business undertook to protect Indian consumers with uninterrupted supply of essential fuels."

Commenting on the performance of the Oils-to-Chemicals (O2C) business, Srinivasan T, Chief Operating Officer, O2C (Refining) at RIL, said, "Fuel cracks have been good. Crude prices have risen, but because of production in the US, ethane has been good. Refining capacity in both Russia and the Middle East was affected, which resulted in good numbers, but there were also challenges. There were under recoveries on our retail sales,” said

“We saw freight rates rising by 10X (due to war). EBITDA margin is a bit lower because of an increase in insurance and freight rates,” he said.

Amit Chaturvedi, President, Petrochemicals at RIL, added that last quarter was an absolute roller coaster and volatility in raw materials prices was phenomenal.

“Cost of making ethylene from naphtha shot up like anything due to increased prices and freight rates. Availability of natural gas was also affected severely due to disruption in supplies from Qatar,” he said.

Oil & Gas

The oil and gas business remained largely stable, with EBITDA of Rs 4,973 crore, supported by higher condensate output from KG-D6 and increased coal-bed methane (CBM) production. However, natural declines in KG-D6 gas output, lower gas price realisation and higher government levies weighed on earnings. KG-D6 gas price realisation was lower by 10.8 percent and CBM price realisation was up 21.2 percent from a year earlier.

Sanjay Barman Roy, President – E&P, commented that in KGD6, while there is natural decline, it is lower than anticipated. “We are trying to offset natural decline in KGD6,” he said.

“We've seen gas prices being much higher because of stranded volumes in the Strait of Hormuz. We saw prices come down after the ceasefire, but it is still higher than pre-war levels. We can get better price realisations,” he added.

Media

JioHotstar also reported its highest-ever quarterly engagement, averaging 530 million monthly active users, while IPL 2026 became the biggest-ever T20 event across digital and television platforms. EBITDA rose 3.1 percent to Rs 1,049 crore from a year earlier.

Ishan Chatterjee, CEO - Digital and Sports, JioStar, said this was a good quarter for JioStar. “We launched Tadka, our own in-house micro content platform. We saw 100 mn+ active users within two months of launch. We now have our own in-house AI media studio. We launched our first ever fully AI-generated micro drama,” he commented.

Source: Money control 

14/07/26, My Health is NotGood

 😴

14/07/26, Here are the top movers and shakers today

The benchmark indices have slipped lower in afternoon trade on July 14 after the sharp rise in crude oil prices and renewed tension between the United States and Iran weighed on sentiment. The Nifty was hovering around the 24,075 level, while the Sensex was hovering near the 77,160 mark. 

Oil-sensitive sectors faced selling pressure after Brent crude surged nearly 14% in two sessions to close to $85 per barrel, while company-specific developments kept Container Corp, Kalyan Jewellers, PC Jeweller and Biocon active during the session.

👉Here are the top movers and shakers today

Biocon

Biocon share price surged as much as 8.04% by midday and touched a fresh 52-week high after reports of a large block deal in the pre-open session. Around 9.2 crore shares were reportedly offered through the transaction, representing approximately 2.82% of Biocon’s total equity, with the deal described as a secondary sale, meaning the proceeds would go to the shareholder selling the stake rather than Biocon.

Container Corporation of India

Container Corporation of India share price surged more than 5% by midday after the state-run logistics company reported healthy growth in container volumes for the June quarter, indicating stronger cargo movement across its network. Total container throughput increased 8.9% year-on-year to 14,04,821 twenty-foot equivalent units during the quarter, compared with 12,90,101 TEUs in the corresponding period last year

The stock also remained in focus after CONCOR recently signed a 15-year agreement with GAIL (India) to establish an LNG dispensing station at its Inland Container Depot in Ahmedabad. Under the agreement, GAIL will develop and operate the LNG retail outlet, while CONCOR will provide the required land and utility connections, with the project intended to encourage the use of cleaner fuel among heavy commercial vehicles operating through the logistics hub.

Bharat Petroleum Corporation

Bharat Petroleum Corporation share price declined around 2% by midday as the surge in international crude oil prices weighed on oil marketing companies. Brent crude climbed nearly 14% in two sessions to near $85 per barrel as tensions between the United States and Iran intensified and concerns grew over possible disruptions to maritime traffic and energy supplies. 

Hindustan Petroleum Corporation

Hindustan Petroleum Corporation share price fell around 2% by midday as oil marketing companies came under pressure following the sharp rise in global crude oil prices. The renewed geopolitical tension involving the United States and Iran pushed Brent crude close to $85 per barrel after a rapid increase over two trading sessions, raising concerns over the cost of crude imports and the impact on fuel marketing margins.

Indian Oil Corporation

Indian Oil Corporation share price declined around 2% by midday as rising crude oil prices triggered selling across oil marketing companies. The rapid increase in Brent crude following renewed military tension between the United States and Iran led to the sharo price action. The market is also watching the risk of disruption to maritime traffic around the region. 

InterGlobe Aviation

InterGlobe Aviation share price declined more than 3% by midday as the surge in crude oil prices raised concerns over higher aviation turbine fuel costs. Fuel remains one of the largest operating expenses for airlines, leaving the sector particularly sensitive to sudden increases in crude prices. Brent crude rose nearly 14% in two sessions to near $85 per barrel amid renewed tension between the United States and Iran and concerns over possible disruptions to regional shipping and energy supplies, putting pressure on IndiGo shares during the session.

SpiceJet

Spicejet Ltd. share price slipped 1.5% by midday as airline stocks came under pressure from the sharp rise in international crude oil prices. The increase in Brent crude to more than $85 per barrel raised concerns about higher aviation turbine fuel expenses at a time when airlines continue to manage other operating and financing costs. The renewed geopolitical tension in West Asia added to uncertainty over energy prices, keeping the stock in negative territory during the session.

Asian Paints

Asian Paints share price declined 3% by midday as the sharp rise in crude oil prices raised concerns over raw material costs for paint manufacturers. A significant portion of the industry’s input basket is linked directly or indirectly to crude oil, which means a sustained increase in energy prices can put pressure on margins unless companies are able to pass the additional costs through price increases. 

Berger Paints

Berger Paints share price fell 2% by midday as paint companies faced selling pressure following the surge in global crude oil prices. The industry relies on several crude-linked raw materials, making a sharp increase in oil prices an immediate concern for input costs and profitability. The pressure came as Brent crude climbed nearly 14% in two sessions to more than $85 per barrel.

Kansai Nerolac Paints

Kansai Nerolac Paints share price declined 1.3% by midday as higher crude oil prices weighed on companies with substantial exposure to crude-linked raw materials. The rapid increase in Brent crude raised concerns that input costs could remain elevated if geopolitical tensions continue and energy supplies face further disruption. Paint stocks traded broadly lower during the session as the market assessed the possible impact of higher raw material expenses on operating margins.

Indigo Paints

Indigo Paints share price declined 3% by midday as selling spread across paint companies following the sharp increase in crude oil prices. Brent crude moved above $85 per barrel after gaining nearly 14% in two sessions, raising concerns about the cost of crude-linked inputs used by paint manufacturers. 

CEAT

Ceat Ltd. share price declined 3% by midday as tyre manufacturers came under pressure from the sharp increase in crude oil prices. Several important tyre-making inputs, including synthetic rubber and other derivatives, are linked to crude oil, making a sustained rise in energy prices a concern for production costs and margins. Brent crude’s rapid advance to more than $85 per barrel led to selling across oil-sensitive sectors, with tyre companies among the counters facing immediate pressure.

MRF

MRF Ltd. share price slipped 1% by midday as the increase in global crude oil prices weighed on tyre stocks. Higher crude prices can raise the cost of synthetic rubber and other petroleum-linked materials used in tyre production, creating concerns over margin pressure if the increase cannot be fully passed on through higher product prices. 

Balkrishna Industries

Balkrishna Industries Ltd. Industries share price declined 1.3% by midday as higher crude oil prices triggered weakness across tyre stocks. The sector remains exposed to changes in the cost of crude-linked raw materials, and the nearly 14% rise in Brent crude over two sessions raised concerns over input expenses. 

Apollo Tyres

Apollo Tyres share price fell 3.4% by midday as the surge in crude oil prices increased concerns over raw material costs for tyre manufacturers. Synthetic rubber and several other inputs used in tyre production are linked to petroleum prices, leaving the industry exposed when crude rises rapidly. The stock was among the weaker tyre counters during the session as Brent crude traded above $85 per barrel following renewed tensions between the United States and Iran.

PC Jeweller

PC Jeweller Ltd. share price gained 1.41% by midday, recovering after profit booking in the previous session as buying interest returned following the company’s continued progress on debt reduction. The jewellery retailer recently said it had cleared outstanding dues to another lender under the joint settlement agreement signed with a consortium of banks in September 2024, taking it closer to its stated objective of becoming debt-free during Q2 FY27. The company’s June-quarter business update also provided support, with consolidated revenue increasing 21% year-on-year, while outstanding bank debt has fallen by more than 90% since the settlement agreement came into effect.

Kalyan Jewellers

Kalyan Jewellers share price gained around 4% by midday, extending its strong run as buying continued following the company’s June-quarter business update. The jewellery retailer reported 38% year-on-year revenue growth in its India operations despite the 28-day Adhik Maas period, while same-store sales increased approximately 28%. International operations recorded revenue growth of around 35%, with the West Asia business growing nearly 30%. 

Report by Shivangini Gupta 

Source: Financial Express

14/07/26, WhileSale Price Index in India

 Wholesale prices in India rose at the quickest pace in at least 27 months in June, driven higher by food items, data released by the commerce ministry showed on Tuesday.

WPI inflation rose to 9.87% in June, from 9.68% in May, and is the highest in the new series, which has data from April 2024.

The spurt in wholesale prices is being transmitted to retail levels, and could reflect more on consumer price index in the coming months. Retail inflation hit an 18-month high of 4.38% in June, breaching the Reserve Bank of India’s medium-term target of 4% for the first time since January 2025.

WPI food inflation rose to an 18-month high of 6.14% in June. Higher food inflation pushed up the headline print by as much as 43 basis points relative to May, according to Rahul Agrawal, Principal Economist, ICRA.

“Wholesale prices across most food items have witnessed a hardening in their YoY inflation prints in early-July 2026 relative to June 2026, suggesting that the WPI-food inflation is likely to inch up somewhat in the ongoing month,” Agrawal said.

Primary articles inflation increased to 7% in June from 4.99% in May, led by a rise in non-food articles inflation and minerals inflation.

Manufactured products inflation stayed steady at 7.48% in June while fuel and power inflation moderated to 27.41% last month from 30.33% in May. Core WPI inflation, which excludes food and fuel items, eased to 7.5% in June from 7.7% in May.

“WPI inflation at 9.9% for June is significant because it is more generalized than before being broad based,” said Madan Sabnavis, chief economist, Bank of Baroda. “Quite clearly the days of low inflation are over.”

The Ministry of Commerce and Industry had released the revised WPI series in June along with new Producer Price Indices. The new WPI and the output and input PPIs have 2022-23 (Apr-Mar) as the base year.

Output PPI inflation rose to a series high of 9.57% in June from 9.38% in May. The trial input PPI for manufacturing sector jumped to 107.1 in June from 104.9 in May. WPI inflation is expected to stay high in the near-term, with economists projecting the July print around 9%.

“While WPI inflation was expected to temper down due to the peace treaty being signed, the resumption of war and the turmoil again in the oil sector could keep the momentum up,” Sabnavis said.

Sequentially, wholesale prices rose 0.3% in June, the slowest month-on-month increase in 8 months.

Input prices, based on the input PPI for manufacturing sector, increased 2.1% month-on-month in June, higher than 0.7% in May. “This could reflect the continued margin pressure across a number of manufacturing sub-sectors with limited pass-through to output prices,” HDFC Bank economists said in a report.

Report by Shubam Rana 

Source: Financial Express

14/07/26, PostMarket REPORT

Foreign institutional investors (FIIs/FPIs) remained net buyers in Indian equities on July 14, purchasing shares worth Rs 2,603.72 crore, while domestic institutional investors (DIIs) also continued their buying streak, investing Rs 2,019.68 crore, according to provisional exchange data.

During the session, FIIs bought shares worth Rs 15,318.07 crore and sold equities worth Rs 12,714.35 crore, resulting in a net inflow of Rs 2,603.72 crore.

DIIs, meanwhile, purchased shares worth Rs 17,171.75 crore and sold shares amounting to Rs 15,152.07 crore, leading to a net inflow of Rs 2,019.68 crore.

Both foreign and domestic institutional investors ended the session as net buyers, indicating continued institutional participation in the cash market. After pulling out nearly Rs 49,000 crore from Indian equities in June, foreign investors have turned net buyers in July, infusing about Rs 4,573 crore into equities through July 14.

Indian benchmark indices opened on a weak note and extended their losses throughout the session, closing near the day's low amid broad-based profit booking. Investor sentiment remained under pressure as Brent crude oil prices climbed back above $85 per barrel, while persistent geopolitical tensions further weighed on risk appetite.

At close, the Nifty 50 declined 0.66% to settle at 24,052, while the Sensex ended lower at 77,054.

In its latest note, Bajaj Broking further added that the sectoral front saw Nifty Pharma, Healthcare, and Metal emerge as the top-performing sectors, attracting defensive and selective buying interest. On the other hand, Realty, PSU Banks, and Auto remained the key laggards, witnessing significant profit booking and dragging the benchmark indices lower.

The broader market also ended in negative territory. The Nifty Midcap 100 index declined 0.44%, while the Nifty Smallcap 100 index fell 1.01%, indicating sharper selling pressure in the broader market compared with the benchmark indices.

Source: money control 

14/07/26, SENSEX monthly wise momentum is bullish

 

14/07/26, ANI Report on Strait Of Hormuz

Iranian Foreign Minister Seyed Abbas Araghchi on Monday (local time) mocked US President Donald Trump over recent remarks charging "20 per cent" over ships transiting the Strait of Hormuz, describing Tehran as the one and only "guardian" of the region.

In a post on 'X'. Araghchi took a swipe at Trump, asserting that Iran will always remain the "guardian" of the Strait of Hormuz.

"POTUS is absolutely right. Whoever provides secure and safe passage of commercial vessels through the Strait of Hormuz should be compensated for this service. Iran has always been the GUARDIAN of the Strait and will remain so FOREVER. 20% is of course too much. We will be fair," said Araghchi.

These remarks come in the backdrop of the renewed tensions between the US and Iran in the past few weeks.

Earlier today, US President Donald Trump said that the United States is "reinstating" the Iranian blockade and said that the US will charge "20 per cent" to provide security to the Strait of Hormuz, a strategic gateway.

In a post on Truth Social, Trump assured that the international maritime traffic through the critical shipping lane would not be closed to the rest of the world despite escalating regional tensions.

"The Hormuz Strait is OPEN, and will remain OPEN, with or without Iran," Trump said. "We are reinstating the THE IRANIAN BLOCKADE, so named because it is only stopping Iran's ships or customers from entering or leaving. All other countries will have fair and open use of the Strait," he wrote.

Trump claimed that a 20 per cent levy on transiting cargo is a necessary measure to cover the operational expenses of securing the volatile shipping lane.

"The U.S.A. will be, from this point forward, known as 'THE GUARDIAN OF THE HORMUZ STRAIT,' but as such, and as a matter of FAIRNESS, will be reimbursed, at the rate of 20% on all cargo shipped, for any and all costs necessary to do the job of providing safety and security to this very volatile section of the World. President DONALD J. TRUMP," he added.

The President added that the deployment and institutionalisation of this protection-and-reimbursement model would be enacted without delay, concluding that "the process and formation will begin immediately."

On the other hand, Iran issued a stern warning against the US, reaffirming its authority over the Strait of Hormuz, dismissing Washington's intervention in its management.

According to Press TV, the spokesperson of the Khatam al-Anbiya Central Headquarters, Brigadier General Ebrahim Zolfaghari, affirmed that Iran will not, "under any circumstances, allow the US to interfere in the management of the Strait of Hormuz."

Source: Network18 

14/07/26, Stocks to Watch

L&T Technology Services, Tata Elxsi, A2Z Infra Engineering, Anand Rathi Share and Stock Brokers, Aditya Birla Money, Dhampur Bio Organics, Den Networks, Jindal Saw, and SG Finserve will release their quarterly earnings today.

Quarterly Earnings

👉HCL Technologies Q1 (Consolidated YoY)

Profit zooms 20.3% to Rs 4,624 crore Vs Rs 3,843 crore

Revenue grows 13.9% to Rs 34,579 crore Vs Rs 30,349 crore

EBIT jumps 18% to Rs 5,831 crore Vs Rs 4,942 crore

EBIT margin rises 58 bps to 16.86% Vs 16.28%

Dollar revenue increases 2.96% to Rs 3,650 crore Vs Rs 3,545 crore

Board declares interim dividend of Rs 12 per share for FY27

👉ICICI Prudential Asset Management Company Q1 (YoY)

Profit soars 23.1% to Rs 964.6 crore Vs Rs 783.6 crore

Revenue surges 17.6% to Rs 1,564.2 crore Vs Rs 1,330.7 crore

Nuvoco Vistas Corporation Q1 (Consolidation YoY)

Profit zooms 20% to Rs 159.8 crore Vs Rs 133.2 crore

Revenue increases 8.9% to Rs 3,128.7 crore Vs Rs 2,872.7 crore

👉Stocks to Watch

Biocon

Mylan Inc is likely to sell its entire 5.64 percent stake in Biocon via block deals, with floor price at Rs 378.50 per share, reports CNBC-TV18 quoting sources.

State Bank of India

State Bank of India's subsidiary SBI Funds Management has opened its 9,813-crore initial share sale for public subscription today, with price band at Rs 545-574 per share.

On July 13, a day before the IPO opening, SBI FM already raised Rs 2,663 crore by issuing 4.63 crore shares to 129 anchor investors including BlackRock, Abu Dhabi Investment Authority, Morgan Stanley, Goldman Sachs, Citigroup, Capital Group, Government of Singapore, Fidelity, Societe Generale, and Massachusetts Institute of Technology along with insurance companies, and 23 domestic mutual funds.

Timken India

The company has received Bureau of Indian Standards (BIS) licenses for two product categories across two manufacturing facilities.

EMS

The company has emerged as the lowest bidder for sewerage work project worth Rs 105.81 crore from UP Jal Nigam (Urban), Varanasi.

Alembic Pharmaceuticals

The United States Food and Drug Administration (USFDA) has issued a warning letter to the Clinical Investigator associated with a bioequivalence study conducted at the company's bioequivalence facility. The inspection was conducted by the USFDA during the period from March 3 to 7, 2025.

The warning letter pertains to observation regarding Informed Consent Form (ICF) in relation to a bioequivalence study. The observations do not relate to data integrity.

Welspun Enterprises

The company's subsidiary Welspun Pune Shirur Projects (WPSPL) has signed sub-concession agreement with Maharashtra State Infrastructure Development Corporation (MSIDC), and Government of Maharashtra for Pune to Shirur highway project worth Rs 7,300 crore.

Emcure Pharmaceuticals

The company has executed Share Transfer Agreements with all the individual shareholders of Gennova Biopharmaceuticals for acquisition of remaining 6,63,865 equity shares, representing 12.05 percent of the total paid up capital, for Rs 231.87 crore. After completion of the acquisition, Gennova would become a wholly-owned subsidiary of the company.

PDS

PDS, the global fashion supply chain solutions company, has entered a Sourcing as a Service (SaaS) contract with the global sourcing arm of a leading French-headquartered Global Supermarket to manage and operate the retailer's textile sourcing operations across Bangladesh, Pakistan, India, Sri Lanka and Turkey.

Grasim Industries

The Board of Aditya Birla Renewables (ABReN), a subsidiary of the company, approved the execution of a Share Purchase Agreement (SPA) to acquire 100% stake in Solenergi Power Private Limited (SPPL), from Shell Overseas Investment BV, a wholly-owned subsidiary of Shell PLC, for Rs 17,200 crore.

SPPL is an investment holding company for Sprng Energy Private Limited and Sprng Solar Plus Private Limited. After completion of the transaction, SPPL (along with its subsidiaries) will become subsidiaries of ABReN and consequently of the company.

TBO Tek

Augusta TBO (Singapore) Pte sold 2.04 percent stake in TBO Tek via open market transactions on July 13, reducing shareholding to 3.5 percent from 5.54 percent earlier.

Butterfly Gandhimathi Appliances

The company has been granted patent for an invention titled IMPROVISED SAFETY KNOB FOR GAS COOKTOPS, for 20 years effective December 29, 2021.

👊👉Bulk Deals

Jana Small Finance Bank

QRG Investments and Holdings, the family office owned by Havells India founders, sold 10.77 lakh shares (representing 1.02 percent of paid-up equity) in Jana Small Finance Bank for Rs 52.6 crore to Monet Securities.

The price at which a 1.02 percent stake exchanged was Rs 488.3 per share. As per the shareholding pattern of June 2026, QRG Investments held 1.03 percent stake (10.87 lakh shares) in Jana Small Finance Bank.

Fino Payments Bank

Agreya Capital Advisors LLP, the portfolio management services provider, offloaded 5.76 lakh shares (0.69 percent stake) in Fino for Rs 8.89 crore at Rs 154.2 per share.

Denis Chem LabDenis Chem Lab

Foreign company V-S Holding BV, which held 20.74 percent stake (28.77 lakh shares) in Denis Chem Lab as of March 2026, sold 1 lakh shares (0.72 percent stake) for Rs 72.4 lakh at Rs 72.4 per share.

Source: Network18

14/07/26, HCL Technologies

After Tata Consultancy Services (TCS), IT services giant HCLTech is venturing into data centre business. CEO and MD C Vijayakumar announced on July 13 that the company will be initially investing around Rs 3,500 crores into building data centre capacity of up to 50 MW.

This comes on the heels of the Noida-headquartered IT firm's Sarvam AI investment of $150 million, underlining its ambitions of becoming a full-stack AI services and platform company.

Speaking at the company's Q1FY27 earnings conference, Vijayakumar said, “Global data centre demand is expected to nearly triple by 2030, thanks to AI. In India, that growth is expected to happen at an even faster rate. Sovereign data requirements are increasingly mandating workloads for government, enterprises be delivered in the country. The business is shifting from physical infrastructure to higher value full stack solutions that will become a growth vector for HCLTech.”

“We will make a strategic investment of up to Rs 3,500 crores and with a potential to scale up to 50 MW capacity,” he added.

“The megawatts is just an anchor, the whole value is in delivering full stack AI services including data centres, GPUs, models, applications. The overall value creation is of a very different magnitude. We are also looking at leveraging it to deliver managed services and outcome-based contracts for global clients. Today token costs are a very important component of the overall delivery, we having our own capacity and solutions at fixed contracts will benefit global customers,” he said.

In October 2025, TCS has said it plans to invest around $6-7 billion into building 1 GW of data center capacity over the next five to seven years.

The IT services behemoth had then partnered with global alternate asset management firm TPG to fund its AI data center business, HyperVault by investing $2 billion (Rs 18,000 crores) initially.

Vijayakumar added the company is already in talks with potential clients and close to closing the deal with a customer.

Source: Network18 

13/07/26, PERSYSTENT, MPHASIS

 PERSYSTENT SYSTEMS weekly graph 

MPHASIS weekly graph 

13/07/26, Brijesh Bhatia's Report on 2 IT stocks flashing early Bullish Signals

 Quality stocks tend to rebound to levels where long-term investors have traditionally had confidence after a steep correction. These zones are not just price levels, but they are firm support, where buying demand has consistently overwhelmed selling pressure.

When we see a stock bouncing off of such support and momentum indicators start turning positive as well, it makes for a potential high probability technical setup to follow.

And this is what is happening in Persistent Systems and Mphasis.

Both the  madcap IT stocks  have corrected sharply from their highs and are showing positive signs of recovery. Most importantly, both have broken out of long-term support levels that have been respected in the past few years. The Relative Strength Index (RSI) is improving and the MACD is showing signs of a bullish momentum shift which adds to the optimism.

Price support coupled with improving momentum doesn’t assure an uptrend, but it certainly increases the odds for a meaningful reversal if buyers remain in control.

Persistent Systems: Bulls Keep Charging At Long-Term Support

Persistent Systems has once again proved why the Rs.4,000-Rs.4,400 zone is one of its most important long-term support areas.

Source: Tradingview

The stock has tested this range three times in the one year. Buyers have always been aggressive enough to hold a deeper correction at bay. The stock has already rallied almost 8% on the weekly chart from the recent bounce, pointing to the strength in demand at these levels.

Additionally, the 200WEMA (Weekly Exponential Moving Average) is adding a layer of long-term support.

Momentum indicators are also supporting the rally. The weekly RSI has crossed above its moving average and trades around 48. The indicator is about to turn bullish above 50 but the recent strength suggests that buying momentum is gradually coming back.

The MACD histogram is also tightening up after a long period of weakness. Such behaviour is common in the early stages of a trend change when selling pressure begins to ease before a larger uptrend develops.

If Persistent Systems sustains above the Rs.4,000-Rs.4,400 support zone, then the stock can be on the verge of a potential long-term recovery. A decisive change for the better in momentum could further help the bullish case in the coming weeks.

Mphasis: Momentum Seems Even Stronger

The stock price of  Mphasis has been consistently finding buying support around the Rs.2,000 mark for almost three years now. This level was able to prevent falls in 2023, in the correction early 2025, and again in 2026.

Source: Tradingview

The fact that there are multiple tests of the same price zone makes it a technically significant support level and a key area to watch going forward.

The momentum indicators are also giving some positive signals. The weekly RSI has crossed above its moving average and trades around 48. The indicator is on verge of turning bullish above 50 but the recent strength suggests that buying momentum is gradually accelerating.

The MACD histogram is also tightening up after a long period of weakness. Such behaviour is common in the early stages of a trend change when selling pressure begins to ease before a larger uptrend develops.

As long as Mphasis trades above the Rs.2,000 support zone, the stock has the potential to attract fresh buying interest. If the broader market environment continues to be supportive, a sustained move higher could provide a catalyst in terms of a larger trend reversal.

Are You Adding These Stocks to Your Watchlist?

The  Indian IT sector has seen a massive correction in the last few months. But corrections often present buying opportunities in fundamentally strong businesses, particularly as the technical evidence begins to improve.

Traders and investors are now watching closely a combination from Persistent Systems and Mphasis which has strong long-term support, improving RSI and Positive MACD signals.

Both these stocks deserve a place on the watchlist for those looking to build exposure to quality IT names. If momentum continues to build and they remain above their respective support zones, these could potentially be the next bullish phase.

Source: Financial Express