India

Gold prices have continued to edge higher, supported by growing investor anxiety over potential trade disruptions and inflationary pressures. Amidst escalating tariff tensions between major global economies, market participants are increasingly turning to gold as a safe-haven asset. The yellow metal has also gained from a weakening dollar and expectations of accommodative monetary policy in key markets.

Coal India Ltd., the state-owned coal mining behemoth, reported a 6% year-on-year decline in production for the April to July period of the current fiscal year. The output fell to 241.9 million tonnes during this four-month window, compared to 257.5 million tonnes in the same period last year. The drop raises critical questions about supply chain robustness, monsoon preparedness, and coal demand trends across power and industrial sectors.

The Indian rupee appreciated by 12 paise on Thursday to close at Rs. 87.53 against the U.S. dollar, supported by easing global crude oil prices, positive foreign capital inflows, and a marginal retreat in the greenback overseas. Market sentiment was also buoyed by a modest recovery in domestic equities following a global sell-off. Currency traders attributed the rupee’s upward movement to improved risk appetite and central bank interventions aimed at managing volatility.

Mankind Pharma reported a 17% year-on-year decline in net profit for the first quarter, even as revenue edged upward, reflecting a complex interplay between rising input costs and strategic expansion initiatives. While the company managed to increase its total income from operations, profit margins came under pressure due to elevated raw material costs, marketing spend, and international business scaling. Despite the dip in quarterly earnings, Mankind Pharma remains optimistic about long-term prospects, driven by a broad portfolio in domestic and export markets.

The initial public offering of the National Securities Depository Limited (NSDL) witnessed a strong investor response, being oversubscribed five times by the end of the second day of bidding. Enthusiastic participation came from institutional, retail, and non-institutional investors alike, underscoring the market's confidence in the company’s foundational role in India's capital markets. The IPO is being viewed as a strategic bet on the country’s deepening financial infrastructure, given NSDL’s dominance in depository services.

Amid a global pivot toward artificial intelligence and automation, Infosys has announced plans to recruit 20,000 graduates in fiscal year 2025. The move reflects the IT giant’s intent to strengthen its talent pipeline and accelerate its AI-first transformation agenda. At a time when many global technology firms are treading cautiously on hiring, Infosys is signaling confidence in long-term digital demand.

Tata Steel reported a significant surge in its first-quarter net profit for FY25, more than doubling to Rs. 2,007 crore, driven primarily by strong performance in India and easing raw material costs. While global challenges continued to affect European operations, the company benefited from a stable demand environment in India, improved operational efficiencies, and higher EBITDA margins. Despite muted top-line growth, the steelmaker demonstrated resilience by strategically focusing on cost controls and capacity expansion.

Jio Financial Services has received a capital injection of Rs. 15,825 crore from its parent company, Reliance Industries, marking a significant move aimed at strengthening the financial arm’s balance sheet and accelerating its growth trajectory. This infusion is poised to enhance Jio Financial’s lending capabilities, technology platforms, and digital infrastructure as it seeks to disrupt India’s fast-evolving financial services landscape.

InterGlobe Aviation Ltd., which operates India’s largest airline IndiGo, posted a net profit of Rs. 2,161 crore for the first quarter of FY2025, marking a 21% year-on-year decline. The dip comes despite a robust uptick in passenger volumes and total revenue, reflecting mounting cost pressures, elevated fuel prices, and rupee depreciation against the U.S. dollar. Operational efficiency, network expansion, and passenger demand remained resilient. However, profit margins tightened due to a surge in operating expenses.

Global energy management and automation leader Schneider Electric has taken a significant step to consolidate its position in India by acquiring full ownership of its Indian business unit. The strategic acquisition is expected to streamline local operations, accelerate growth in high-demand sectors, and enhance the company’s ability to serve a rapidly evolving market.