Grasim Industries will be in focus as Aditya Birla Renewables Ltd (ABRen), a unit of Grasim Industries, has agreed to acquire Sprng Energy from Shell Overseas Investment BV in a deal valued at about $1.8 billion. According to reports from The Economic Times, the transaction values Sprng Energy at an enterprise value of ₹17,200 crore, creating one of India's largest integrated renewable energy platforms. The company reported its record $2.4 billion in Q1 bookings, the highest-ever for a first quarter, with CEO C Vijayakumar expressing confidence about strong bookings continuing into Q2.
Oil prices experienced significant volatility with Brent crude oil rising 7.8% to $81.92 after the United States and Iran each claimed control of the Strait of Hormuz. As reported by The Economic Times, fighting in the region has kept oil tankers from using the strait to deliver crude from the Persian Gulf to customers worldwide, driving up fuel prices globally. President Trump's announcement of reinstating a blockade on Iranian ships and calling for 20% payments on all cargo shipped through the strait contributed to the price surge. India's retail inflation accelerated to 4.38% in June, surpassing the Reserve Bank of India's 4% midpoint target for the first time since January 2025, according to provisional data released by the ministry of statistics and programme implementation. Food inflation stood at 5.32% in June, up from 4.78% in May and 4.20% in April, while fuel inflation edged up to 2.0% from 1.7%, reflecting recent increases in global crude oil prices.
HCLTech announced strong Q1 results with net profit surging 23.1% year-on-year to ₹964.63 crore compared to ₹783.64 crore in Q1 FY26, according to regulatory filings. The company's revenue from operations rose 17.55% YoY to ₹1,564.22 crore, up from ₹1,330.67 crore in the corresponding period of the previous fiscal year. The board has approved an investment of up to ₹3,500 crore for setting up data centres in India and announced entry into the full-stack AI market. CEO C Vijayakumar expressed optimism about strong bookings continuing in Q2 despite some softness in West Asia.
The domestic stock market is expected to open gap-down on Tuesday, July 14, with GIFT NIFTY futures suggesting a 192-point decline for the NIFTY50 index. According to The Economic Times, the market sentiment reflects the combination of geopolitical tensions affecting oil prices and broader market uncertainties. Biocon is also in focus as Mylan is expected to offload around 9.2 crore shares at a floor price of ₹378.5 per share, representing an estimated transaction worth nearly ₹3,500 crore. The RBI kept interest rates unchanged at its meeting on June 5, striking a cautious tone as it monitored the impact of surging oil prices on the economy. The central bank's six-member MPC voted unanimously to keep the benchmark repo rate at 5.25% and retain a neutral policy stand, indicating it is in a wait-and-watch mode.
