Indian stock markets closed sharply lower on Thursday as broad-based selling weighed on investor sentiment. The Nifty 50 declined 1.23% to settle at 23,859.20, while the Sensex dropped 1.30% to end at 76,506.03. Losses were seen across most major sectors amid cautious market sentiment. The Nifty Bank managed to close marginally higher by 0.11% at 57,789.70, while the Gift Nifty was trading at 23,903.00, down 0.21%. Market participants are closely watching corporate developments and earnings updates across various sectors.
HDFC Bank has announced the appointment of Rajiv Kumar as an Independent Director for a four-year term beginning June 30, 2026, with the board also proposing his appointment as Part-time Chairman for three years, subject to regulatory and shareholder approvals. Yes Bank board approved plans to raise up to ₹7,500 crore through equity instruments and up to ₹8,500 crore via debt securities, providing the lender with additional capital raising flexibility. State Bank of India raised $300 million through three-year senior unsecured floating-rate bonds issued via its London branch. Additionally, Rane (Madras) has entered into an agreement with Hindustan Composites to acquire its friction business for an enterprise value of ₹370 crore on a slump sale basis.
KPIT Technologies expects Q1 performance to be lower than previously expected due to a sudden drop in revenues in recent weeks, with a 1% YoY decline in USD reported revenues. The company anticipates sequential declines in both EBITDA margin and profit margin. In contrast, Cupid is poised to deliver revenue exceeding ₹150 crore in Q1, with management revising FY27 revenue outlook upward by a minimum of 10%. Hexagon Nutrition reported strong Q4 performance with profit soaring 40.6% to ₹10.9 crore versus ₹7.75 crore previously, while revenue grew 8% to ₹115 crore from ₹106.5 crore.
KEC International secured fresh orders worth ₹1,754 crore across its businesses, adding to its order pipeline. Power Grid Corporation acquired a 100% stake in Kakinada I Transmission SPV for ₹20.5 crore for transmission infrastructure for a green hydrogen and green ammonia project in Andhra Pradesh. Sterling and Wilson Renewable Energy received a Letter of Award for a 1,000 MWac solar photovoltaic project along with a 600 MWh battery energy storage system project in Egypt, valued at $560 million. Balkrishna Industries completed the expansion of its carbon black manufacturing capacity to 3.6 lakh MTPA by adding 95,000 MTPA and increased its captive power generation capacity to 64 MW through an additional 24 MW installation.
Axis Bank announced that Chief Financial Officer Puneet Sharma has resigned from his position, while Bandhan Bank announced the resignation of Chief Financial Officer Rajeev Mantri, who is leaving to pursue other opportunities. Coforge appointed Anup Nair as its Chief AI Commercial Officer as part of its leadership expansion. NLC India allotted commercial papers worth ₹400 crore on June 29, 2026. Manorama Industries approved the launch of its Qualified Institutional Placement (QIP) issue and fixed the floor price at ₹1,547.18 per share, with a discount of up to 5% on the floor price.
Waterways Leisure Tourism and Advit Jewels are scheduled to list on the mainboard, while Shreedhar Spinners, Jivial Industries, and Riyaasat Lifestyle are set to list on the SME platform. The market activity reflects continued corporate developments and strategic acquisitions across various sectors, with significant fundraising plans and leadership changes indicating active corporate activity across banking, infrastructure, and renewable energy sectors.
