Sterlite Technologies reported record quarterly revenue and profit, driven by strong AI-led demand for optical connectivity and data centre solutions. The company achieved a net debt-free balance sheet, secured a record order book and strengthened its AI-ready infrastructure portfolio.
SBI Life Insurance reported a 22% YoY rise in June-quarter profit to Rs 720 crore, driven by robust growth in new business and renewal premiums. Gross written premium rose 20%, while value of new business climbed 29%. The insurer also reported higher embedded value, improved persistency and steady growth in assets under management.
The US Treasury is increasing short-term bill issuance to meet rising funding needs. This strategy aims to rebuild government cash balances and finance seasonal spending requirements. Analysts express concerns about long-term risks from heavy reliance on short-duration debt. Money market funds are absorbing much of this issuance, though demand may face seasonal pressures. This approach could limit flexibility during future financial emergencies.
Juniper Green Energy will launch its Rs 1,800-crore initial public offering on July 30. The company plans to raise funds through a fresh issue of equity shares. Proceeds will be used for debt repayment and investments in subsidiaries. Juniper Green Energy develops and operates renewable energy projects across India. The company is backed by Singapore-based AT Capital Group.
Intel beat second-quarter estimates with its strongest revenue growth in over 15 years, driven by booming AI demand. Strong guidance and expanding data center and foundry businesses lifted investor confidence.
Caliber Mining and Logistics shares fell over 8% after debuting at a 19% premium to their IPO price. Despite the post-listing correction, analysts advise IPO allottees to hold for the medium to long term, while fresh investors should wait for a dip or consolidation before considering fresh exposure.
The European Central Bank may increase minimum reserve requirements for commercial banks. This move could reduce interest payments made to lenders by the Eurosystem. Such a change might save the Eurosystem nearly €4 billion annually. It also aims to address losses at national central banks. A decision on this proposal is expected later this year.
US investors are reducing bond allocations and increasing inflation-sensitive assets. This shift aims to diversify portfolios against market volatility and rising prices. Commodities, infrastructure, and private credit are gaining favor among these investors. Bonds have historically provided a hedge but are now less reliable. This strategic adjustment seeks better portfolio resilience in uncertain economic conditions.
SBI Funds Management shares slipped below their IPO price after listing, but brokerages remain bullish on the stock, citing strong parentage, a vast distribution network, sticky SIP flows, robust profitability and long-term mutual fund growth opportunities.
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