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Market participants will closely monitor further developments in the US-Iran conflict, movements in crude oil prices, the ongoing Q1 earnings season and corporate business updates, as well as the progress of the southwest monsoon for cues on market direction.
Metal shares witnessed profit booking after gaining over the previous two trading sessions.
At 10:25 IST, the barometer index, the S&P BSE Sensex declined 248.96 points or 0.32% to 77,320.43. The Nifty 50 index fell 79.20 points or 0.33% to 24,127.70.
In the broader market, the BSE 150 MidCap Index fell 0.23% and the BSE 250 SmallCap Index rose 0.17%.
The market breadth was strong. On the BSE, 2,090 shares rose and 1,766 shares fell. A total of 243 shares were unchanged.
Buzzing Index:
The Nifty Metal index declined 0.71% to 12,598.45. The index jumped 1.77% in the past two trading sessions.
Tata Steel (down 1.77%), Jindal Steel (down 1.45%), Hindustan Zinc (down 1.15%), Jindal Stainless (down 1.11%) and Vedanta (down 1.03%) were the top losers. Among the other losers were Steel Authority of India (down 1.02%), NMDC (down 0.92%), APL Apollo Tubes (down 0.8%), JSW Steel (down 0.64%) and Hindustan Copper (down 0.59%) declined.
Stocks in Spotlight:
Avantel added 2% after the company reported a 67.39% year-on-year increase in consolidated net profit to Rs 5.39 crore in Q1 FY27, compared with Rs 3.22 crore in Q1 FY26. Revenue from operations rose 35.65% year-on-year to Rs 70.42 crore in Q1 FY27.
Avenue Supermarts (Dmart) declined 2.42%. The company reported an 11.33% increase in consolidated net profit to Rs 860.61 crore for the first quarter of FY27, compared with Rs 772.97 crore in the corresponding quarter last year. Revenue from operations rose 14.88% to Rs 18,794.53 crore in Q1 FY27 as against Rs 16,359.70 crore in Q1 FY26.
L&T Finance advanced 1.98% after the company reported a 28.72% year-on-year (YoY) increase in consolidated net profit to Rs 902.47 crore for the quarter ended 30 June 2026 (Q1 FY27), compared with Rs 701.10 crore in the corresponding quarter last year. Total revenue from operations jumped 22.38% YoY to Rs 5,212.92 crore in Q1 FY27.
Profit before tax (PBT) climbed 31.07% YoY to Rs 943.22 crore in the quarter ended 30th June 2026.
The company's consolidated loan book expanded 27% YoY to Rs 1,29,634 crore as of 30 June 2026 from Rs 1,02,314 crore a year earlier. The retail loan book grew 28% YoY to Rs 1,27,535 crore from Rs 99,816 crore, supported by growth across rural and urban markets with a focus on high-yielding loan products.
Retail disbursements surged 36% YoY to Rs 23,852 crore in Q1 FY27 from Rs 17,522 crore in the year-ago period. Among key segments, personal loan disbursements more than doubled, rising 126% YoY to Rs 4,380 crore, while farmer finance disbursements increased 11% to Rs 2,453 crore.
SME Finance disbursements rose 23% YoY to Rs 1,567 crore, while Gold Finance disbursements climbed 26% to Rs 1,928 crore during the quarter.
The company reported an improvement in its asset quality in Q1 FY27, with both gross and net Stage 3 assets declining on a year-on-year basis.
Gross Stage 3 (GS3) assets stood at 2.86% as of 30 June 2026, compared with 3.31% in the corresponding quarter of the previous year. Net Stage 3 (NS3) assets also improved to 0.90% in Q1 FY27 from 0.99% in Q1 FY26, reflecting continued strengthening in the company's loan portfolio and asset quality.
The company said it continues to strengthen its technology infrastructure by adopting an open-source private cloud, which is expected to significantly reduce costs while supporting its artificial intelligence (AI) and machine learning initiatives. According to the company, the private cloud model is projected to be around 70% cheaper than hyperscale cloud platforms over a five-year total cost of ownership.
Sudipta Roy, managing director & CEO, LTF, said, “Q1FY27 was another quarter where we remained focused on disciplined execution amidst an evolving macroeconomic environment marked by geopolitical uncertainties, inflationary pressures and elevated borrowing costs. Despite these external factors, our diversified retail franchise continued to demonstrate resilience, delivering strong business momentum and healthy book growth in line with the goals of our Lakshya 31 strategic plan.
Our consistent investments in technology, analytics and AI continue to be a key differentiator, both in terms of customer experience as well as credit outcomes. In our bid to transform into an AI-native organization, we are increasingly embedding our proprietary AI ecosystem across the entire lending stack from sourcing and underwriting through our in-house AI credit engine ‘Project Cyclops’ to portfolio monitoring through ‘Project Nostradamus’ and our expanding suite of in-house developed AI copilots and agents. These capabilities are enabling superior credit selection, improved customer experience, faster turnaround times and enhanced operating efficiencies, while strengthening the quality and sustainability of our growth.”
Mumbai-based L&T Finance is a leading non-banking financial company (NBFC), offering a range of financial products and services. On a consolidated basis, the company's PAT for Q4FY26 stood at Rs 807 crore vs. Rs. 636 crore, up by 27% YoY. Total income jumped 18.47% YoY to Rs 4,771.10 crore in Q4FY26.
Going ahead, investors will closely monitor further developments in the US-Iran conflict, movements in crude oil prices, the ongoing Q1 earnings season, corporate business updates, and the progress of the southwest monsoon for cues on the market's near-term direction.
IT, Media and consumer durables stocks advanced while FMCG, metal and pharma shares declined.
As per provisional closing data, the barometer index, the S&P BSE Sensex advanced 47.04 points or 0.06% to 77,616.40. The Nifty 50 index rose 4.10 points or 0.02% to 24,211.
In the broader market, the BSE 150 MidCap Index rose 0.02% and the BSE 250 SmallCap Index rose 0.25%.
The market breadth was positive. On the BSE, 2,341 shares rose and 2,061 shares fell. A total of 202 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, surged 8.38% to 13.28.
In the commodities market, Brent crude for September 2026 settlement added $1.81 or 2.38% to $77.82 a barrel.
Economy:
India’s trade deficit widened to $30.43 billion in June’26 from $19.10 billion in June’25 and $28.21 billion in May’26.
India's merchandise exports climbed 15.5% to $40.41 billion in June 2026, compared with $34.98 billion in the year-ago period. Imports surged 31% year-on-year to $70.84 billion, up from $54.08 billion, resulting in a wider trade deficit.
On a sequential basis, merchandise exports declined from $45.20 billion in May to $40.41 billion in June, while imports eased from $73.41 billion to $70.84 billion over the same period.
IPO Update:
Laser Power & Infra IPO received bids for 85.33 crore shares as against 2.55 crore shares on offer. The issue was subscribed 33.35 times.
The issue opened for bidding on 09 July 2026 and it will close on 13 July 2026. The price band of the IPO is fixed between Rs 203 and 214 per share. An investor can bid for a minimum of 70 equity shares and multiples thereof.
The Nifty IT index rallied 3.59% to 29,015.85. The index jumped 5.62% in the two consecutive trading sessions.
Tata Consultancy Services (up 5.45%), HCL Technologies (up 4.97%), Tech Mahindra (up 3.35%), Infosys (up 3.19%) and Mphasis (up 3.02%), Persistent Systems (up 2.68%), Coforge (up 2.59%), LTM (up 2.2%), Wipro (up 1.72%) and Oracle Financial Services Software (up 0.62%) advanced.
LTM (formerly LTIMindtree) rose 2.2% after it has reported a 5.86% quarter-on-quarter (QoQ) increase in consolidated net profit to Rs 1,468.6 crore on a 2.80% rise in revenue from operations to Rs 11,608 crore in Q1 FY27 over Q4 FY26.
NMDC declined 0.92%. The company reduced the prices of Baila Lump and Baila Fines with effect from 10 July 2026. The state-owned miner cut the price of Baila Lump (65.5%, 10-40 mm) by Rs 250 per tonne to Rs 5,450 per tonne in July’26 from Rs 5,700 per tonne in June’26. It also reduced the price of Baila Fines (64%, -10 mm) by Rs 150 per tonne to Rs 4,700 per tonne from Rs 4,850 per tonne.
Fino Payments Banks surged 18.86% after the small finance bank’s average total deposits jumped 11% to Rs 2,755 crore in June 2026 compared with Rs 2,477 crore in June 2025.
Just Dial hit upper circuit of 20% after the company reported 66.2% jump in net profit to Rs 166.3 crore in Q1 FY27 from Rs 100 crore in Q4 FY26. Operating revenue for the period under review was Rs 327.5 crore, up 9.9% YoY.
L&T Finance jumped 1% after the NBFC reported a 28.72% year-on-year (YoY) increase in consolidated net profit to Rs 902.47 crore for the quarter ended 30 June 2026 (Q1 FY27), compared with Rs 701.10 crore posted in Q1 FY26. Total revenue from operations jumped 22.38% YoY to Rs 5,212.92 crore in Q1 FY27.
Avantel rose 1.94% after the company reported a 67.39% year-on-year increase in consolidated net profit to Rs 5.39 crore in Q1 FY27, compared with Rs 3.22 crore in Q1 FY26. Revenue from operations rose 35.65% year-on-year to Rs 70.42 crore in Q1 FY27.
Bajaj Consumer Care declined 1.22%. The company has reported 84.8% rise in consolidated net profit to Rs 70.7 crore on a 28.3% increase in net sales to Rs 341.4 crore in Q1 FY27 as compared with Q1 FY26.
Indus Towers rose 0.94%. The company has appointed Abhishek Maheshwari as the chief financial Officer (CFO) and key managerial personnel (KMP) of the company, effective August 19, 2026. Maheshwari is a seasoned finance professional with over 21 years of experience across business partnering, strategic planning, budgeting, financial reporting, investor relations, mergers and acquisitions, taxation, compliance, internal controls, and business modelling. He currently leads the finance function for Airtel’s B2B business as CFO.
63 Moons Technologies surged 7.79% after the company’s material subsidiary, 63SA TS Cybertech, secured an order book worth Rs 288 crore in the first quarter of FY27, achieving around 82% of its full-year order target of Rs 350 crore.
Global Markets:
Most European market declined as escalating Middle East tensions weighed on investor sentiment.
Most Asian market ended lower on Monday as investors remained cautious amid renewed geopolitical tensions in the Middle East.
Investor sentiment nosedived after Iran and the United States exchanged airstrikes over the weekend. Tehran claimed it had targeted U.S. military facilities across multiple Gulf countries and announced the closure of the Strait of Hormuz.
However, U.S. President Donald Trump rejected the claim on Sunday, stating that the strategic waterway remained open to commercial shipping.
In South Korea, shares of SK Hynix fell 5% after the chipmaker's stock had surged 13% during its Nasdaq debut, prompting investors to book profits.
In the United States, shares on Wall Street ended higher on Friday. The Dow Jones Industrial Average gained 0.29% to close at 52,637.01, the S&P 500 rose 0.42% to 7,575.39, and the Nasdaq Composite advanced 0.29% to finish at 26,281.61.
Investors are also gearing up for a busy U.S. earnings week, with several major financial institutions, including JPMorgan Chase, Goldman Sachs, Morgan Stanley, Bank of America, Citigroup and Wells Fargo, scheduled to report quarterly results.
Earnings from Netflix, Johnson & Johnson and UnitedHealth are also expected to be closely watched for clues on corporate performance and the broader economic outlook.
Gross Stage 3 (GS3) assets stood at 2.86% as of 30 June 2026, compared with 3.31% in the corresponding quarter of the previous year. Net Stage 3 (NS3) assets also improved to 0.90% in Q1 FY27 from 0.99% in Q1 FY26, reflecting continued strengthening in the company's loan portfolio and asset quality. The company said it continues to strengthen its technology infrastructure by adopting an open-source private cloud, which is expected to significantly reduce costs while supporting its artificial intelligence (AI) and machine learning initiatives. According to the company, the private cloud model is projected to be around 70% cheaper than hyperscale cloud platforms over a five-year total cost of ownership.
Mumbai-based L&T Finance is a leading non-banking financial company (NBFC), offering a range of financial products and services.
On a consolidated basis, the company's PAT for Q4FY26 stood at Rs 807 crore vs. Rs. 636 crore, up by 27% YoY. Total income jumped 18.47% YoY to Rs 4,771.10 crore in Q4FY26.
The counter rose 0.06% to settle at Rs 321.25 on the BSE.
SME Finance disbursements grew 23% YoY to Rs 1,560 crore from Rs 1,273 crore, while Gold Finance increased 25% YoY to Rs 1,920 crore from Rs 1,530 crore. Disbursements from the acquired portfolio jumped 206% YoY to around Rs 150 crore from Rs 49 crore in the year-ago quarter.
The company's retail loan book was estimated at around Rs 1,27,450 crore as of 30 June 2026, up 28% YoY from Rs 99,816 crore a year earlier.
L&T Finance said its retailisation level remained unchanged at 98% at the end of the quarter.
The company said the figures are estimated and provisional and remain subject to a limited review by its statutory auditors.
Shares of L&T Finance rose 3.73% to settle at Rs 326.95 on Friday, 3 July 2026.