Markets witnessed a strong rebound on Wednesday, gaining nearly a percent and recovering most of the previous session’s losses. From a technical standpoint, the Nifty has largely retraced its previous decline, while Bank Nifty has completely engulfed the previous session’s dip. The outperformance of banking stocks and the rebound from a crucial support zone reinforce the strength of the prevailing uptrend.
In today's trade, shares of LIC, IRFC, Cummins India, Tata Motors PV, ONGC among others will be in focus due to various news developments.
IRFC
The government's offer for sale (OFS) in Indian Railway Finance Corporation (IRFC) received a strong response from institutional investors on Wednesday, with the non-retail portion getting subscribed 1.86 times. Following the robust demand, the government will exercise the greenshoe option, Department of Investment and Public Asset Management (DIPAM) Secretary Arunish Chawla said.
Cummins India
Engines maker Cummins India is banking on strong domestic demand to drive fiscal 2027 growth even as uncertainty over lasting peace in the Middle East is likely to keep exports under pressure, a top executive said. The US-Iran war has raised production, commodity and logistics costs for Indian companies, and weakened export demand across several markets due to supply-chain challenges.
Tata Motors PV
Tata Motors Passenger Vehicles Ltd (TMPV) plans to invest Rs 37,500-40,000 crore over the next five years to expand capacity by nearly 45% and introduce several new models as part of its strategy to double annual sales to more than 1.2 million units.
ONGC
Oil and Natural Gas (ONGC) is in talks with Venezuela's state-run oil company PDVSA to acquire all or part of its stakes in two oilfields in the South American nation, ET reported. The proposed acquisition is contingent on ONGC securing a US licence to operate the two fields.
LIC
Sunil Agrawal, Chief Financial Officer and Key Managerial Personnel, LIC has resigned to pursue better prospects. His resignation will be effective from the close of business hours of July 14, 2026 when he would cease to be Chief Financial Officer and Key Managerial Personnel of the Corporation.
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