Jul 4, 02:14 AM

Vedanta Output Surge, Reliance Beauty Deal Set Tone for India Stocks

Indian equity markets are expected to open flat to slightly higher on Friday after GIFT Nifty futures signalled marginal gains, with trading likely to be driven by a raft of corporate updates across metals, energy, finance and consumer sectors. Vedanta Ltd reported record alumina production of 587,000 tonnes in the June quarter, up 36% sequentially, while ferro-chrome output jumped 150%. Reliance Retail Ventures strengthened its beauty and wellness portfolio by taking a strategic minority stake in UK-based FaceGym, whose India launch will be led by the group’s Tira platform. Financials will stay in focus after Bajaj Finance said new loans booked rose 23% year-on-year to 13.49 million in the first quarter, expanding its customer base to 106.5 million. Bandhan Bank’s loans grew 6.4% to ₹1.33 lakh crore, though its low-cost CASA deposits fell 6% amid broader deposit growth of 16%. In energy, Indian Energy Exchange posted a 6.5% increase in June traded volumes to 10,852 million units. Separately, Oil & Natural Gas Corp. formed a $370 million joint venture with Japan’s Mitsui O.S.K. Lines to build two very-large ethane carriers for delivery in 2028. Block deals may add volatility: Carlyle Group is seeking up to ₹2,700 crore by selling a 10% stake in Piramal Pharma, and Bain Capital plans to pare 2.4% of recently listed Emcure Pharmaceuticals. IndiGo parent InterGlobe Aviation named former NITI Aayog chief Amitabh Kant as a non-executive director, subject to approvals. Other movers include AWL Agri Business, which logged a 21% revenue rise despite softer volumes, and state-run NBCC, which secured ₹65.73 crore of new project management orders. Analysts expect these company-specific developments to set the tone for the session ahead of the next batch of quarterly earnings.

Written with ChatGPT .

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Vedanta Output Surge, Reliance Beauty Deal Set Tone for India Stocks

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