Swiggy is moving closer to becoming an Indian-owned and controlled company (IOCC), a move that could enable an inventory-led model for Instamart and potentially improve margins. However, Jefferies expects the shift to trigger passive outflows of over $400 million from MSCI and FTSE indices due to foreign ownership limits. The brokerage retained its Buy rating with a target price of Rs 435.
Sebi will soon issue guidelines for responsible AI and machine learning use in India’s securities market, with mandatory safeguards including a “kill switch”, human oversight and data controls. Chairman Tuhin Kanta Pandey said the framework will balance innovation with investor protection as AI adoption expands across surveillance, risk assessment, fraud detection and investor servicing, while ensuring accountability among regulated entities.
Behari Lal Engineering shares surged 14% after making a strong market debut, listing at a 63% premium to the IPO price. Brokerages remain positive, citing strong investor appetite and reasonable valuations, though they advise investors to book partial profits after the sharp listing gains. Here’s what SBI Securities and Swastika Investmart recommend on the stock.
IDFC FIRST Bank raised $500 million through its maiden international bond issuance, marking its entry into global debt markets. The three-year senior notes, due in 2029, carry a 5.625% coupon and attracted major investors including BlackRock, Capital Group and AllianceBernstein. The fundraising diversifies the bank’s funding base and supports its long-term growth ambitions.
Indian Bank raised $400 million through a four-year overseas funding programme via its GIFT City branch, joining Indian lenders tapping global debt markets. Banks are accelerating dollar bond issuances following regulatory changes to the concessional swap window for FCNR deposits. Axis, ICICI, Federal, IDFC First, Kotak Mahindra and Yes Bank are also active.
IDFC First Bank raised $500 million through its first international bond issuance, marking its entry into global debt markets. The three-year bonds carry a 5.625% coupon and mature in 2029. Backed by an investment-grade S&P rating, the issue attracted major global investors, diversifying the bank’s funding sources and supporting long-term expansion.
Jefferies has cut its target price for Jupiter Wagons to Rs 185 from Rs 210 and retained its Underperform rating after weak Q1 earnings. The brokerage lowered FY27E-29E EPS estimates by 6%-20%, citing weaker wagon and wheelset sales, margin pressure and slower execution, while maintaining a positive view on the company’s long-term wheel manufacturing opportunity.
Hong Kong Exchanges and Clearing posted record first-half 2026 results, with profit rising 24% to HK$10.6 billion. Strong IPO activity, particularly among technology and AI firms, and record trading volumes drove growth. With 87 listings raising HK$212.4 billion, HKEX is benefiting from Hong Kong’s renewed role as a major capital-raising hub.
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