Indian markets witnessed a rebound on Thursday, recovering from Wednesday's sharp sell-off with benchmark indices recovering modestly amid supportive global cues. According to The Economic Times, markets will first react to TCS's quarterly earnings in early trade on Friday, with TCS reporting 5% year-on-year growth in consolidated net profit at ₹13,349 crore for the first quarter. The Board has approved an interim dividend of ₹12 per share for the financial year FY27 and fixed July 15 as the record date. Going ahead, markets will focus on overnight geopolitical developments and their impact on crude oil prices as key factors on investors' radar.
Tata Consultancy Services delivered strong Q1 consolidated results with profit rising 4.6% to ₹13,349 crore compared to ₹12,760 crore in the previous year. According to reports from Moneycontrol, revenue jumped 13.9% to ₹72,275 crore versus ₹63,437 crore year-on-year. The company's EBIT grew 11.6% to ₹17,317 crore from ₹15,514 crore, though EBIT margin fell to 23.95% from 24.45%. Anand Rathi Wealth showed exceptional growth with profit zooming 73.6% to ₹163 crore compared to ₹93.9 crore in the previous year. As reported by Moneycontrol, revenue increased 17.5% to ₹322 crore from ₹274 crore, while other income spiked nearly 11-fold to ₹110.3 crore from ₹10.1 crore.
Dixon Technologies has executed definitive agreements with Vivo Mobile India to establish an original equipment manufacturer for electronic devices, with Dixon holding a 51% stake and Vivo owning the remaining 49%. According to The Hindu BusinessLine, this strategic partnership is intended to bolster Dixon's manufacturing excellence and strengthen its foothold in the Android smartphone ecosystem. Apollo Micro Systems has entered into a definitive agreement to acquire a controlling 41.33% stake in Premier Explosives Ltd for ₹1,550 crore, marking a significant consolidation in India's private defence sector. The landmark deal merges AMS's expertise in electronic systems with PEL's specialisation in solid propellants.
Maruti Suzuki plans to add around 500 service points across the country in the ongoing fiscal, as reported by The Economic Times. The company, which opened its 6,000th service touchpoint in India on Thursday, had opened a record 502 service touchpoints in 2025-26 and served over 2.84 crore vehicles, the highest in a single financial year. Premier Energies commissioned a 5.6 GW solar module facility in Telangana, set up as part of the company's ₹12,500 crore capex plan to build capabilities and foray into new business segments. The company also performed ground-breaking ceremonies for a 6 GWh Battery Energy Storage System facility and an aluminium frames manufacturing facility with 18,000 metric tonnes per annum capacity.
Several companies announced significant corporate developments today. Groww has affirmed that direct mutual funds will remain central to its platform and will continue to be free for do-it-yourself investors, responding to recent market confusion. Shriram Finance is raising $1.3 billion through half a dozen foreign banks to reduce its borrowing costs after a rating upgrade following a sizeable stake purchase by the Japanese banking major, Mitsubishi UFJ Financial Group (MUFG). Indian Oil faced challenges as the CIC upheld IOCL's refusal to disclose decade-long nationwide fuel quality inspection records under the RTI Act.
Major institutional transactions included Polunin Emerging Markets Small Cap Fund acquiring 6 lakh shares (0.85% stake) in Unichem Laboratories for ₹38.84 crore at ₹646.44 per share. According to Moneycontrol, Fidelity Investment Trust acquired 10.05 lakh shares (0.68% stake) in Sunteck Realty for ₹32.33 crore, while Schroder International Selection Fund sold 13.2 lakh shares (0.9% stake) for ₹42.47 crore. Katkar Kailash Sahebrao and Katkar Sanjay acquired 2.46 lakh shares (1.72% stake) in Kody Technolab for ₹26.89 crore, while promoter Manav Subhashchandra Patel sold 2.57 lakh shares (1.8% stake) for ₹28.02 crore.
