Stock Markets

Adani Enterprises’ latest ₹1,000 crore bond offering has been met with extraordinary enthusiasm, securing full subscription in just a few hours on its opening day. The non-convertible debentures, designed to yield up to 9.30% annually, attracted strong interest from retail investors, high-net-worth individuals, and corporates alike. Rated ‘AA-; Stable’, the issue underscores investor confidence in the company’s credit strength and strategic growth trajectory.

In a decisive move underscoring optimism in India’s expanding asset management sector, ICICI Prudential Asset Management Company has filed draft papers with regulators to launch its initial public offering. This proposed listing by one of India’s largest fund houses aims to deepen its capital base and unlock value for stakeholders.

Shares of Vedanta Ltd. plunged in trade after a damning report by a global short seller questioned the company’s financial disclosures and raised concerns over its debt structure. The report, which scrutinized Vedanta’s complex corporate framework and aggressive fund-raising tactics, triggered a sharp selloff, wiping out substantial investor wealth. Market participants are now reassessing the company’s fundamentals, weighing potential risks to its long-term solvency.

Crizac, a rising name in the Indian engineering and infrastructure solutions sector, made an impressive entry on the stock exchanges as its shares surged 15% above the issue price on debut. The strong listing reflects investor optimism over the company’s diversified project portfolio and steady earnings track record. Proceeds from the IPO are earmarked for expanding manufacturing capacity and strengthening the balance sheet.

Kolkata-based Glen Industries has announced its initial public offering (IPO) with a price band of Rs. 92-97 per share, aiming to raise Rs. 63.02 crore through a fresh issue of approximately 64.97 lakh equity shares. Scheduled to open on July 8 and close by July 10, the company plans to list its shares on the SME platform of BSE. Founded in 2007, Glen Industries manufactures eco-friendly food packaging products, including thin-wall containers and compostable straws, serving the HoReCa sector and exporting globally.

Nuvama Institutional Equities has reaffirmed a bullish outlook on Reliance Industries Ltd. (RIL), maintaining a ‘Buy’ rating with a revised target price of Rs. 1,801—projecting a 20% upside from current levels. The brokerage anticipates that RIL's New Energy division will emerge as a key growth driver, contributing up to 50% of profit after tax (PAT) by FY30. The segment, including solar modules and power, is forecast to grow net profit from Rs. 2,000 crore in FY27 to Rs.

Raymond Realty Ltd, the real estate arm of the iconic Raymond Group, officially made its market debut on Indian stock exchanges this Tuesday, following a strategic demerger. The stock opened at Rs. 1,005 on the BSE and rose nearly 5% by mid-day. On the NSE, it followed a similar trajectory. With a market capitalization surpassing Rs. 6,500 crore, the listing reflects strong investor interest and confidence in the firm’s standalone prospects.