In June, the total outward remittances under the Liberalised Remittance Scheme soared to $2.5 billion. Notably, Indians disbursed $1.3 billion on international travel, reflecting a significant uptick from the previous month. Meanwhile, expenditure on overseas education rose to $96 million. Additionally, remittances for the upkeep of close relatives accounted for $287 million, while investments in equity and debt attracted $456 million from Indian residents.
The Indian equity market experienced a positive turnaround on Tuesday, August 25, highlighted by the Nifty 50 making a robust recovery. Anticipation builds for Wednesday as Groww gears up for a significant block deal, while Cipla faces new USFDA inspectional observations. In other news, Tata Motors Passenger Vehicles is set to enhance its electric vehicle offerings through a collaboration with Tata Communications for 5G technology.
Oil prices dropped significantly as traders viewed new US sanctions on Iran less severely. Brent crude and West Texas Intermediate both reached their lowest levels since mid-August. The sanctions announcement was less aggressive than anticipated by many market participants. However, Iran has vowed retaliation, and shipping risks remain a concern for traders. Supply disruptions in Russia and Kazakhstan also occurred, but focus remains on Iran.
Lumino Industries secured Rs 206.99 crore from anchor investors before its upcoming initial public offering. The company plans to raise Rs 700 crore through this maiden share sale, with shares priced between Rs 78 and Rs 82. The public subscription period will commence on August 27, 2026, and conclude on August 31, 2026.
Indian equities gained as softer-than-expected US sanctions on Iran eased crude oil and bond yield pressures. Analysts highlighted Adani Enterprises, HDFC AMC, Hyundai Motor India and Dixon Technologies as bullish technical setups, while geopolitical risks warrant continued near-term caution.
Welspun Corp’s promoter group entity and CEO Vipul Mathur plan to sell up to 63 lakh shares worth Rs 1,417.5 crore through a block deal. The transaction represents 2.4% of outstanding shares and comes after a sharp stock price rally.
US stocks opened higher Tuesday as technology shares recovered from the previous session’s selloff. The Dow Jones, S&P 500 and Nasdaq Composite gained at the open ahead of Nvidia’s earnings and a key inflation report. Investors are watching the data for clues on the Federal Reserve’s interest rate outlook.
HEG will implement its demerger from September 1, creating separate listed companies for graphite electrodes and advanced materials. September 7 is the record date, with shareholders receiving new shares in a 1:1 ratio approved under the composite scheme of arrangement.
Sebi has barred Varanium Cloud and promoter Harshawardhan Sabale from the securities market for seven years, citing misleading disclosures, inflated financials and diversion of IPO and rights issue funds. The regulator ordered recovery of diverted money and disgorgement of unlawful gains.
Dick’s Sporting Goods shares plunged 22% after second-quarter earnings missed estimates and the retailer cut its full-year outlook. Weak Foot Locker sales, integration challenges and cautious consumer demand overshadowed stronger comparable sales and revenue growth at its core Dick’s business.
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