India

In a significant step toward providing justice and relief, Air India has distributed interim compensation of Rs. 25 lakh each to the legal heirs of 166 passengers who lost their lives in the tragic 2020 Kozhikode plane crash. The move, though long overdue, marks a moment of closure for many families, as the national carrier begins fulfilling its compensation obligations. This interim payout follows prolonged legal and bureaucratic processes and comes amid ongoing calls for full and fair compensation under international aviation norms.

India’s primary market is bracing for a bustling week ahead, with a flurry of 14 initial public offerings (IPOs) and 11 stock market listings scheduled across the mainboard and SME platforms. This flurry of activity underscores the renewed investor enthusiasm and broader market momentum, as companies rush to capitalize on favorable valuations and liquidity conditions. The upcoming week includes both fresh issues and listing debuts, with SMEs dominating the calendar.

Karur Vysya Bank (KVB) posted a net profit of Rs. 521.45 crore for the first quarter of FY26, reflecting a robust performance supported by healthy credit offtake, improved asset quality, and disciplined cost management. The private sector lender witnessed steady growth in both advances and deposits, while maintaining strong capital adequacy and prudent provisioning. The bank’s focus on digital transformation and expansion in retail and SME segments contributed to operational efficiency.

HFCL Ltd., a leading Indian telecom and technology solutions provider, reported a consolidated net loss of Rs. 32 crore in the first quarter of FY26, reversing a profit of Rs. 75 crore in the same period last year. The company also saw a significant decline in its revenue from operations, which fell by over 36% year-on-year to Rs. 727 crore. Management attributed the downturn to sluggish demand in optical fiber cable exports and reduced government orders, even as the company maintains confidence in its long-term strategy and product pipeline.

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Kaytex Fabrics, a company operating in the textile manufacturing and trading sector, is set to open its initial public offering (IPO) for subscription on July 29. The IPO price band is fixed between Rs. 171 and Rs. 180 per share, signaling investor confidence in the company’s valuation. Through this issue, Kaytex aims to raise fresh capital to support business expansion, strengthen its balance sheet, and fund working capital requirements.

Ashiana Housing Ltd. recorded a robust 83% year-on-year increase in its sales value during the first quarter of FY25, indicating sustained demand in India’s residential real estate market. The company achieved sales worth Rs. 507 crore, a significant leap from Rs. 277 crore in the corresponding period last year. Buoyed by strong bookings across key projects, especially in Pune and Bhiwadi, the performance reflects an industry-wide resurgence supported by favorable market conditions and growing consumer confidence.

Laxmi India Finance, a non-banking financial company (NBFC) known for its focus on vehicle and MSME loans in semi-urban and rural India, is gearing up for its initial public offering (IPO) slated to open on July 29. The company aims to raise Rs. 254 crore through the public issue, with the funds earmarked for expanding its loan book, improving capital adequacy, and strengthening operational infrastructure. Positioned within a sector undergoing formalization and digital transition, the IPO will test investor appetite for smaller NBFCs operating outside India’s metropolitan hubs.

In a significant financial milestone, One97 Communications Ltd.—the parent company of Paytm—reported a profit in the first quarter of FY25, marking a sharp turnaround from previous losses. The company posted a net profit of Rs. 1.3 crore, compared to a loss of Rs. 358.4 crore in the same quarter last year. Despite this notable improvement in the bottom line, the market reaction was tepid, with the stock declining over 3%.

LatentView Analytics has announced a consolidated net profit of Rs. 50.5 crore for the first quarter of FY26, reflecting its strong market position amid growing global demand for advanced analytics and digital transformation services. The Chennai-headquartered data analytics firm also posted a revenue of Rs. 167.2 crore during the quarter, underpinned by consistent client engagement and expansion in key markets. With rising investment across industries in AI, predictive insights, and cloud-based intelligence, LatentView continues to scale its offerings across geographies.

Eternal Group's stock surged 15% on Monday, reaching a new 52-week high amid a sharp increase in trading volume. The rally, driven by heightened investor interest and significant intraday momentum, saw the stock peak at Rs. 9.90 on the NSE, extending its bullish trend. This impressive upswing is part of a broader trajectory that has seen the company's shares appreciate over 35% in the last month alone. While no immediate corporate announcements accompanied the surge, market participants are speculating on potential fundamental triggers.