Intellect Design Arena's Q1 results showed a 5.17% year-on-year revenue decline and a 20.34% profit drop. Quarterly comparisons revealed a 1.19% revenue decline, but a 2.04% profit increase. Operating income decreased by 16.8% from the previous quarter and 25.94% year-on-year. The Q1 EPS was ₹5.25, a 21.64% drop from last year. The company's market cap is ₹13,744.95 Cr, with a 52-week high/low.

Akums Drugs & Pharmaceuticals Ltd is set to debut on the stock market with an Initial Public Offering (IPO). The company aims to raise funds through this public issue, although the exact amount and IPO price band have not been disclosed yet. Investors can expect to gain insight into the company's financial performance and future prospects through the IPO process.

The Securities and Exchange Board of India (Sebi) has banned Vijay Mallya from the securities market for three years for routing funds from his overseas UBS bank accounts to the Indian capital markets between 2006 and 2008. Sebi's investigation found that Mallya used a foreign institutional investor, Matterhorn Ventures, to indirectly trade in shares of his own group entities.

Bernard Arnault, CEO of LVMH, paid €150 million ($163 million) to be the premium sponsor of the Paris Olympics. In return, LVMH's luxury brands, including Dior, Berluti, Moët & Chandon, Hennessy, Chaumet, and Louis Vuitton, were prominently featured during the opening ceremony, with its products worn by performers and used in the event's productions.

Gold prices plummeted 9% in India to ₹67,000 per 10 gm, a four-month low, due to a 9% custom duty cut and sluggish demand in China, causing a 4.50% global correction. The US PCE inflation data fueled US Fed rate cut expectations, leading experts to anticipate a rebound in gold prices. The COMEX gold price is supported at $2,345 per troy ounce, and a break above $2,405 could signal a bullish trend.

Aditya Birla Group is investing Rs 5,000 crore in its new branded jewellery retail business, 'Indriya', aiming to become a top 3 national player in 5 years with a 50% CAGR growth rate. The initial investment will be used for setting up stores and buying inventory, with plans to expand to 11 cities in six months and tap into the Rs 6.7 lakh cr market, expected to grow to Rs 11-13 lakh cr by 2030.

At least 30 companies, including ICICI Bank, are scheduled to release their Q1FY25 results on July 27, which is expected to impact stock movements in the BSE and NSE. ICICI Bank's net profit is estimated to rise 8-10% in the June quarter, with a 12% growth in net interest income. Its shares have rallied 20.6% year-to-date and 22% in the last year, with a market cap of ₹8,50,020.53 crore.

India's stock benchmarks, Nifty and Sensex, surged 1.76% and 1.62%, respectively, on Friday, with Nifty closing at a record high of 24,834.85, driven by renewed bullish momentum. The market was aided by redeployment of investors and traders, with Foreign Portfolio Investors and Domestic Institutions buying shares worth ₹2,546.38 crore and ₹2,774.31 crore, respectively.

CrowdStrike's stock price plummeted 16% due to a major IT outage caused by a bug in their software, sparking concerns about their systems and performance outlook. CEO George Kurtz announced that 97% of affected Windows sensors are now online, but investors remain wary. Analysts have cut price targets, with Citigroup reducing their target to $345 per share and Barclays to $285 per share.

Yes Bank is working to provide an exit to its current shareholders, particularly State Bank of India (SBI), which holds 33.74% stake. The lender is in talks with potential investors for selling its stake. Yes Bank received ₹10,000 crore investment from SBI and other Indian banks in 2020 to prevent bankruptcy. The bank's bad loan sale to JC Flowers has yielded an upside of ₹1,000 crore.

Sebi has imposed a penalty of ₹5 lakh on HSBC Asset Management, reopening a case related to L&T AMC, which was acquired by HSBC Group in May 2023. Sebi found anomalies in record-keeping, specifically, the lack of evidence to support investment decisions. An earlier order exonerating the fund house was deemed erroneous, and Sebi's whole-time member, Kamlesh Varshney, ordered the penalty.

The Indian government may reduce its 86.46% stake in Bank of Maharashtra in FY25 to comply with Minimum Public Shareholding (MPS) regulations, which require at least 25% public shareholding. Four other public sector banks, with government stakes ranging from 93.08% to 98.25%, are unlikely to meet the norm in the current fiscal. The government has requested a two-year extension to comply with MPS.

PNB is set to announce its unaudited standalone Q1 results for 2024, with experts expecting a healthy set of numbers due to strong deposit growth. Despite compression in the banking segment's Net Interest Margin (NIM), PNB is expected to report a profit growth quarter-on-quarter (QoQ) and year-on-year (YoY) driven by deposit-related numbers, with a possible net profit growth of 1%.

Indian stock market surged on Fri, with Nifty 50 index reaching a new peak of 24,861, up 428 pts, & BSE Sensex gaining 1,292 points to close at 81,332. Sumeet Bagadia of Choice Broking recommends buying 📌Cipla at ₹1575 with a target of ₹1720, 📌Wipro at ₹524.80 with a target of ₹580, and 📌Coal India at ₹509.85 with a target of ₹560, citing bullish technical indicators & strong buying momentum.

Godrej Properties' commercial project in Chandigarh, Godrej Eternia, has had its building plans and occupation certificate revoked by the Union Territory government due to alleged environmental clearance violations. The company will contest the decision, citing a "wrong premise" and "misunderstanding of facts." The revocation may impact the project's financial prospects.