IOL Chemicals & Pharmaceuticals posted record Q1FY27 performance, with PAT rising 90% to Rs.64.05 cr. Non-Ibuprofen products contributed 43% of pharma revenue, while chemicals revenue and EBIT grew 29% and 193% YoY, respectively. Stock may surpass its 52-week high of Rs.180.
Indian equities are expected to open higher today after two consecutive sessions of losses. GIFT Nifty is indicating a positive opening, with investors looking for some recovery after recent volatility.
The Indian rupee continues to remain under pressure against the US dollar, prompting the Reserve Bank of India to intensify its intervention in the currency market. The central bank has increasingly stepped in when the rupee weakens sharply, while foreign-deposit inflows are providing some additional support.
The ongoing US-Iran conflict continues to remain a major risk for global financial markets, particularly because of uncertainty surrounding the Strait of Hormuz. Crude prices remain elevated, with Brent recently trading close to $89 a barrel, as investors assess the possibility of further disruption to energy shipments.
Hero MotoCorp has approved an investment of up to Rs. 1,758 cr. to acquire additional shares of electric two-wheeler manufacturer Ather Energy. The transaction will increase Hero MotoCorp’s holding in Ather to around 32.8%.
Wipro has expanded its collaboration with Google Cloud, with a greater focus on artificial intelligence and cloud-based solutions. The partnership is aimed at helping businesses adopt AI technologies and modernise their technology infrastructure.
Tejas Networks is in focus after receiving a Rs. 1,537-cr. order from Tata Consultancy Services (TCS) related to the rollout of BSNL’s 4G network. The order adds to Tejas Networks’ participation in India’s large-scale telecom infrastructure programme.
Priority Jewels opens its IPO for subscription today, August 28. The issue is scheduled to remain open until September 1, with a price band of Rs. 190–200 per share.
ESDS Software Solution opens its IPO today, giving investors a three-day subscription window. The issue is attracting attention before opening, with the grey market indicating a substantial premium over the issue price.
Skyways Air Services has entered the final day of its IPO subscription today. The Rs. 582.8-cr. issue has already received strong investor demand, with subscription crossing five times by the latest update.
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