Indian rupee could 'trade stronger', target USD/INR at 84 'in coming months': BofA Global Research
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Business Upturn
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- Business Upturn
Nifty top gainers this week (July 12): Hindustan Unilever, Kotak Mahindra Bank, NTPC, SBI Life and more
The Indian stock market saw significant volatility during the week ending July 12, 2025, with a sharp selloff on Friday dragging down overall sentiment. The benchmark indices—Sensex and Nifty 50—closed notably lower on the final trading day of the week. On Friday, July 11, the Sensex opened at 82,820.76 and slipped to an intraday low of 82,442.25, eventually ending the day at 82,500.47—down 690 points or 0.83%. Similarly, the Nifty 50 opened at 25,255.50 and touched a low of 25,129 before closing at 25,149.85, shedding 205 points or 0.81%. Despite the bearish close to the week, several heavyweight stocks in the Nifty 50 index delivered notable weekly gains. Let's take a closer look at the top 10 losers of the Nifty 50 this week, according to Trendlyne. Hindustan Unilever closed at ₹2,519.6, up 7.7% for the week. Kotak Mahindra Bank ended at ₹2,220.6, posting a 4.3% weekly gain. NTPC settled at ₹342.7, rising 2.2% over the week. SBI Life Insurance closed at ₹1,835.2, with a weekly increase of 2.0%. Power Grid Corporation ended at ₹298.6, up 1.6% this week. Bajaj Finserv finished at ₹2,017.2, gaining 1.1% during the week. ITC closed flat at ₹416.8, with a minor weekly rise of 1.0%. Bajaj Finance ended at ₹933.5, up 0.9% on the week. Eternal closed at ₹263.4, rising 0.8% this week. Asian Paints settled at ₹2,439.2, with a 0.6% gain over the week. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Hindustan UnileverKotak Mahindra BankNTPCSBI LifeStock Market Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Yahoo
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TCS revenue falls short as tariffs cast shadow on client spending
By Sai Ishwarbharath B and Haripriya Suresh BENGALURU (Reuters) -Tata Consultancy Services, India's top software-services exporter, missed quarterly revenue estimates on Thursday as its clients stayed cautious about non-essential spending amid tariff-related uncertainty. The revenue shortfall at TCS, the first Indian tech major to report results, raised concerns about future demand for the country's $283 billion IT sector and dragged down U.S. listed shares of rivals Infosys and Wipro. "The trend of delays in decision-making and project starts with respect to discretionary spends has continued and intensified in this quarter," CEO K Krithivasan said on a conference call. While it is "too early" to predict when growth will resume, the passage of the U.S. spending bill could provide some clarity by the end of July or early August, Krithivasan said. Consolidated sales in the first quarter rose 1.3% to 634.37 billion rupees ($7.40 billion), missing analysts' average estimate of 646.66 billion rupees, according to data compiled by LSEG. Uncertainty around U.S. tariffs has quashed IT companies' hopes of a revival in client confidence and spending in its biggest market. A survey in May showed two in five tech executives had deferred discretionary projects. TCS's revenue in four out of its six verticals fell compared to the same period last year, while banking and financial services' revenue grew 1% and tech services rose 1.8%. Its total order bookings stood at $9.4 billion during the quarter, versus $12.2 billion in the previous quarter and $8.3 billion in the year-ago period. "The weak topline numbers highlight cautiousness among clients," said Sagar Shetty, research analyst at StoxBox. "This theme would likely spill over to (other) tier 1 companies as well. Drag in deal wins also undermines revenue visibility, which might warrant revision in upper end of guidance (for other companies)," Shetty said. HCLTech, Infosys and Wipro report results later in July. U.S.-listed shares of Infosys fell 3.3%, while those of Wipro were down 4.2% as of 1920 IST. TCS's net profit rose 6% to 127.60 billion rupees, while analysts expected 122.16 billion rupees. The profit beat was largely tied to a wage hike delay and a jump in other income. ($1 = 85.6690 Indian rupees)
Yahoo
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Wall Street Just Got Backdoor Access to India's $639B Credit Boom
India might've just given Wall Street its next credit playground. In a quiet but significant move, the financial regulator for GIFT City has approved the use of total return swaps (TRS) on corporate bondsnot just sovereign debt. That means global players like HSBC and Standard Chartered can now offer international investors synthetic access to rupee-denominated company debt, without requiring them to open a local account. It's a structure tailor-made for speed and scaleand it's landing just as India's private credit scene hits record highs, including a $3.4 billion raise by Shapoorji Pallonji Group, the country's largest private credit deal to date. TRS has already been gaining steam thanks to India's upcoming inclusion in global bond indexes. That inclusion helped funnel $22 billion into government debtand this new layer could do the same for corporate bonds. We've seen good volume growth through our GIFT City branch, said Sachin Shah, managing director at Standard Chartered India, noting strong inbound interest from global funds. HSBC (NYSE:HSBC) confirmed it's also ready to offer swaps for corporate paper, riding a wave of fresh appetite for yield and exposure. For now, the swap approvals only cover rupee-denominated bonds. But banks are already pushing to extend access to dollar bonds issued by Indian companies through GIFT City. The International Financial Services Centres Authority isn't saying yes just yetbut it is preparing a consultation paper that could open that door. If it does, this may mark a turning point for India's $639 billion credit marketand reshape how foreign capital flows into one of the world's fastest-growing economies. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
