Markets witnessed a strong rebound on Friday, with benchmark indices gaining nearly 1% amid supportive global cues and encouraging earnings from the IT pack. According to ETMarkets, the Nifty has rebounded sharply after defending the 23,800 support zone and has once again reclaimed the 100 DEMA mark around 24,150, indicating renewed buying interest at lower levels. A sustained move above the 24,150 zone could pave the way for an extension towards the 24,400–24,600 region. The positive momentum is expected to continue with strong technical indicators supporting the recovery.
Several major companies announced significant developments that are expected to influence trading today. State Bank of India completed the transfer of a 1.4% stake ahead of SBI Fund Management's IPO, selling 2.9 crore shares to 30 investors at ₹574 per share for ₹1,655 crore. The bank reduced the OFS size in SBI Fund Management IPO to 4.89% stake from 6.3% earlier. Meanwhile, NTPC approved investment of ₹20,457 crore in the Lara Super Thermal Power Project, while Reliance Infrastructure's subsidiary Mumbai Metro One entered a debt restructuring agreement with National Asset Reconstruction Company that will reduce debt by more than ₹1,100 crore.
Several companies reported robust quarterly results that are likely to impact market sentiment. LTIMindtree posted revenue growth of 2.8% to ₹11,608 crore versus ₹11,292 crore, with EBIT up 5.3% to ₹1,799 crore and EBIT margin at 15.5% versus 15.1%. Avenue Supermarts delivered strong performance with revenue up 15.1% to ₹18,343 crore and EBITDA up 16.2% to ₹1,526 crore with margin at 8.3%. L&T Finance achieved its highest ever consolidated PAT of ₹902 crore for Q1FY27, with the company's book reaching ₹1,29,634 crore, up 27% YoY.
Several companies announced significant fundraising activities. IdeaForge Technology allotted 62.9 lakh shares worth ₹500 crore via QIP at ₹795 per share, while Power Finance Corporation raised $300 million through 3-year floating rate notes due July 16, 2029. Aster DM Quality Care received an upgrade from ICRA A+ to ICRA AA/Stable rating, covering enhanced long-term term loan facilities of ₹1,607 crore. Additionally, Lux Industries announced plans to invest ₹600 crore in a manufacturing facility in West Bengal for capacity expansion.
In the renewable energy sector, Adani Green reported operational capacity at 27% with 20,142 MW and added 848 MW capacity in Q1. The company's energy sales increased 30% to 13,657 million units YoY, with operationalized BESS capacity of 1,972 MWh during Q1FY27. NMDC increased iron ore prices effective July 10, 2026, with Baila Lump priced at ₹5,450 per tonne and Baila Fines at ₹4,700 per tonne. HUDCO signed an MoU with the Odisha government for potential loan assistance of up to ₹1 lakh crore.
