PROSTARM

** Shares of Ceigall India CEIG.NS decline 4.2% to 247 rupees; set for worst day since early-May

** Infra firm posted a 33% y/y drop in April-June consol net profit at 531.8 million rupees ($6.1 million)

** Expenses rise 8%, while rev grew about 2%

** YTD, stock down 27%

($1 = 87.6250 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Shares of Indian refiners drop amid a 0.8% dip in benchmark Nifty 50 index .NSEI after U.S. announced additional 25% tariff on Indian goods over its Russian oil purchases .BO

** Hindustan Petroleum Corp HPCL.NS, Bharat Petroleum BPCL.NS drop 1.9% and 2.5%, respectively

** Heavyweight Reliance Industries RELI.NS declines 1.6%; co flags that continuing geopolitical and tariff-related uncertainties may affect trade flows and supply-demand balance

** Indian Oil Corp IOC.NS down 1.4%

** Sub-indexes Nifty oil and gas .NIFOILGAS and energy .NIFTYENR down 1.6% each

** Jefferies analysts say "a clean break from Russian trade on all items will be tough for India"

** Analysts flag fears over a spike in costs if India were to replace Russian crude oil with other sources

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Indian IT services firm LTIMindtree LTIM.NS gains 0.9% to 5,062 rupees

** Co awarded Indian government's tax card upgrade project, known as PAN 2.0, Reuters reports, citing a government source aware of the matter

** The project, approved by Prime Minister Narendra Modi's administration in November 2024, is expected to go live in 18 months, the report says

** LTIM and the income tax department did not immediately respond to Reuters' requests for comment

** Stock was trading 0.2% higher before the report

** YTD, stock down over 9%

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Shares of Indus Towers INUS.NS decline 4.1% to 368.45 rupees; their lowest level since early-April

** Telecom infra firm's consol profit after tax dropped 9.8% y/y to 17.37 billion rupees, its operating profit margin contracted to 33.29% from 40.43% a year ago

** Analysts at UBS said co's results were "slightly softer-than-expected"; PAT declined due to higher power and fuel costs

** Adds, co's decision to not pay dividends is a negative development amid strong free cash flow of 118 billion in the past five quarters

** The decline in stock also comes amid a weaker broader market .BO

** Avg rating of 20 brokerages is "hold" on INUS stock, median PT is 407 rupees - data compiled by LSEG

** Year-to-date, stock is up 7.5%

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Co-working and workspace solutions firm Indiqube Spaces IDIQ.NS drops ~15% on debut

** Stock opened at 216 rupees on the NSE vs issue price of 237 rupees, valuing co at 44.58 bln rupees (~$511 mln)

** IPO subscribed 12.41x; portion set aside for qualified institutional buyers subscribed 14.35x, while that of retail investors subscribed 12.9x

** 8.5 bln-rupee IPO comprises fresh shares worth 7.5 bln rupees and shareholders offloading shares worth 1 bln rupees

** Proceeds will fund capex, debt repayment and general corporate purposes

** Rival Smartworks Coworking SMAW.NS debuted 14% higher, earlier this month

($1 = 87.1540 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Shares of Arvind Fashions ARVF.NS rise 8% to 540.5 rupees, their highest level since late-December

** Co, which retails Calvin Klein and Tommy Hilfiger brands in India, posted a 20% y/y rise in first-quarter core profit, as new store openings and a focus on higher-priced apparel helped

** About 1.2 million shares traded, 3x the 30-day avg

** Stock rated "strong buy" on avg, median PT at 672 rupees - data compiled by LSEG

** Year-to-date, stock up ~5%

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Shares of India's largest IT services provider Tata Consultancy Services TCS.NS drop as much as 1.73% to 3,081.6 rupees, last down 1.3%

** Co to reduce 2% of its workforce in FY26, slashing about 12,000 jobs, primarily affecting middle and senior management from its workforce of more than 613,000 employees

** Citi analysts said the move reflects changes in the industry, including higher tech investments by clients in AI

** Flags pressure on margins due to slowing growth, technology changes and need for investments; maintains cautious view on sector

** Analysts at Jefferies say the move reflects weak demand environment for the industry

** Add, layoffs will likely lead to execution slippages in the near-term; earnings outlook for the sector remains subdued

** Stock rated "buy" on avg, median PT at 3,715 rupees - data compiled by LSEG

** Year-to-date, stock down 23%

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Indian engineering and technology firm Cyient CYIE.NS climbs 2.5% to 1,273 rupees

** Co posts a ~7% y/y rise in first-quarter profit on strong deal wins, rev up ~2%

** Stock rated "hold" on avg, median PT at 1,315 rupees - data compiled by LSEG

** Year-to-date, stock down ~31%

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Shares of Force Motors FORC.NS surge as much as 19.6% to a record high of 20,500 rupees; last up 15.6%

** The Traveller van manufacturer posted a ~55% y/y rise in first-quarter net profit, aided by strong demand for its multi-seater vans

** Rev from ops grew ~22% to 22.97 billion rupees ($266.2 million)

** Stock on track to log busiest trading session in more than 2 years, volumes at 5.6x the 30-day avg

** Year-to-date, stock up 203%

($1 = 86.3010 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Tetley tea maker Tata Consumer Products TACN.NS drops 1.2% to 1,071.6 rupees ahead of quarterly results due later in the day

** Analysts, on avg, expect co to post a ~23% year-on-year increase in first-quarter consol profit at 3.56 billion rupees ($41.23 million) - data compiled by LSEG

** Analysts at Elara Capital said tea, biscuits and edible oils firms will likely benefit from higher pricing of products, while an increase in input costs will weigh on margins

** We expect TACN to post higher revenue growth on the back of strong foods and beverage demand as well as incremental gains from Capital Foods acquisition - KR Choksey Research

** Peers Hindustan Unilever HLL.NS and Nestle India NEST.NS are yet to announce quarterly earnings

** TACN, HLL rated "buy" on avg, NEST rated "hold" - the data

** Year-to-date, TACN up 17% vs a 6% rise in the benchmark Nifty 50 index .NSEI

($1 = 86.3490 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

Updates

** Shares of Reliance Industries RELI.NS fall 2.1% to 1,445 rupees; set for worst day since early-April

** Stock top drag on benchmark Nifty 50 index .NSEI, which is up 0.3%

** Co beat quarterly profit estimates on Friday, boosted by strong digital segment and gains from the sale of its stake in Asian Paints ASPN.NS

OIL-TO-CHEMICALS, RETAIL SEGMENTS MISS EXPECTATIONS

** Nomura ("buy", PT: 1,600 rupees) highlights lower-than-anticipated performance in retail and mainstay oil to chemicals (O2C) business; adds weak performance in O2C due to planned maintenance, higher feedstock and freight costs

** CLSA ("outperform", PT: 1,650 rupees) says RELI's 3% miss on O2C EBITDA, 5% miss in retail EBITDA overshadowed beat in upstream and Jio segments

** PL Capital ("accumulate", PT: 1,555 rupees) says co's standalone EBITDA dropped primarily due to inventory losses and refinery shutdowns

** Jefferies ("buy", PT: 1,726 rupees) says co's consol EBITDA was 3% below their estimates due to weakness in O2C, retail; adds, however, outlook on the O2C segment is positive

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** India's fifth-largest IT services firm by revenue, Tech Mahindra TEML.NS, drops 1.5% to 1,583.4 rupees in pre-open trade

** Co marginally missed first-quarter revenue estimates as sales in its Americas market posted steepest decline in nearly five years

** At least 11 brokerages out of 41 covering the stock reduced rating on the stock, while 10 cut price targets - data compiled by LSEG

** Mohit Joshi, CEO at Tech Mahindra said the market is very, very volatile and added that the company is seeing a continued slowdown in the auto and manufacturing products

** Stock down ~7% so far in 2025

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Shares of PVR Inox PVRL.NS down 1.2% to 987 rupees

** Karnataka state government proposes to cap movie ticket prices across the state at 200 rupees ($2.33), inclusive of entertainment tax, news agency ANI reports

** Stock rated "buy" on avg, median PT at 1,250 rupees - data compiled by LSEG

** The state government's media team did not immediately respond to a Reuters' request for comment

** YTD, stock down 25%

($1 = 85.7375 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Indian telecom infra provider Tejas Networks TEJS.NS drops 5.8% to 657.75 rupees, its lowest level since May 2023

** Co posted June-qtr consolidated loss after tax at 1.94 billion rupees ($22.6 million) vs profit of 774.8 million rupees a year ago, while total revenue plunged 87% on-year

** Delays in receipt of few purchase orders, including an expansion order from state-run BSNL hit revenue in the quarter - TEJS

** Stock on track to log busiest trading session in over two-months, volumes at 5.4x the 30-day avg

** Year-to-date, stock down ~45%

($1 = 85.8020 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** India's exchange operator BSE BSEL.NS climbs 4.1%; Central Depository Services (India) CENA.NS up 1.8%

** Stock brokers Nuvama Wealth Management NUVA.NS and Angel One ANGO.NS gain 1.8% and 0.8%, respectively

** India's markets regulator said Jane Street has deposited 48.44 billion rupees into an escrow account, and requested lifting its trading restrictions

** It was not immediately clear when Jane Street might resume trading

** On July 3, regulator, SEBI, barred Jane Street from the domestic market for manipulating stock indices via derivatives

** Derivatives account for more than half of BSE's revenue, 77% of Angel One's broking revenue; Nuvama is Jane Street's India trading partner

** YTD, BSE, NUVA up 39%, ~8%, ANGO and CENA down ~8% and 2%

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Recently listed energy equipment manufacturer Prostarm Info Systems PRON.NS rises 5.07% to 163.9 rupees

** Co says it will establish its first battery energy storage system (BESS) manufacturing facility in the state of Haryana

** PRON has secured a 9-year lease of a land parcel for the same, with total capital expenditure planned at 250 million rupees ($2.92 million)

** The plant will have an annual manufacturing capacity of 1.2 GWh, says co

** Stock, which listed on June 3, up more than 56% from issue price

($1 = 85.7525 Indian rupees)

(Reporting by Ananta Agarwal in Bengaluru)

(([email protected]))

** Shares of power infra firm Bajel Projects BAJL.NS jump 5% to 242.72 rupees; snapping three sessions of losses

** Co got mega power order from Power Grid Corp PGRD.NS for a transmission line project

** BAJL classifies a project as "mega" if its value ranges between 3 billion and 4 billion rupees

** Stock down 11% so far in 2025

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Indian steel pipes maker Sambhv Steel Tubes SMBV.NS surges 22.3% to 100.25 rupees on first day of trading

** Stock opened 34% higher at 110 rupees vs issue price of 82 rupees; co valued at 29.62 billion rupees (~$346 million) as of 12:42 p.m. IST

** Its 5.4 billion rupees ($63 million) IPO consists of fresh issue of shares worth 4.4 billion rupees and existing shareholders offloading 1 billion rupees

** IPO was subscribed 28.46 times; qualified institutional buyers' portion subscribed 62.32x, and retail investors' portion 7.99 times

** Proceeds from the issue to be used for repayment of debt, general corporate purposes

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Shares of Jyoti CNC Automation JYCA.NS fall 4.8% to 1,071.5 rupees

** About 14.6 million shares changed hands in nine block deals, as of 12:30 p.m. IST - data compiled by LSEG showed

** Block deals priced between 1,071.8-1,096.8 rupees apiece - reflecting a 2.6% to 4.8% discount on last close

** Overall 17.3 million shares traded, volumes at 62.4x the 30-day avg

** Stock down ~21% YTD

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** HDB Financial Services' $1.5 billion IPO was oversubscribed on the final day of bids; bidding closes at 5:00 p.m. IST

** The IPO was subscribed 9.97 times as of 2:51 p.m. IST; portion set aside for qualified institutional buyers (QIB) subscribed 29.43x

** Retail investors' portion subscribed 1.21 times, while non-institutional investors' part was subscribed 9.07x

** IPO was fully subscribed on Thursday, second day of bidding

** Price band set at 700-740 rupees apiece

** Anchor investors bought shares worth 33.69 billion rupees on June 24, ahead of bidding

** Stock to start trading in Mumbai on July 2

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Indian real estate developer Kalpataru's KALT.NS IPO fully subscribed on final day of bids

** ~$186 million IPO was subscribed 1.99 times as of 2:20 p.m. IST, driven by qualified institutional buyers

** Qualified institutional buyers' portion subscribed 2.9 times, while retail investors' portion subscribed 1.09x

** Bidding closes at 5:00 p.m. IST

** IPO consists solely of fresh issue of shares; price band set at 387 rupees to 414 rupees

** Stock will start trading on July 1

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Reliance Industries stock RELI.NS climbs 1.3% to 1,468.9 rupees

** Among top gainers on Nifty 50 .NSEI, which is up 0.81%

** CLSA analysts expect notable improvement across all RELI businesses from Q1

** Adds, expectations high for Jio IPO announcement at AGM; expects retail to report higher EBITDA Q1 growth

** Jio expected to log 9-10 million subscribers in Q1FY26 vs 6 million in most quarters in FY25

** Morgan Stanley analysts see similar trends in co's Q1 growth; adds, steady topline growth in retail, recent stake sales will raise stock price

** Stock rated "buy" on avg, median PT at 1,565 rupees - data compiled by LSEG

** YTD - RELI up nearly 21%, Nifty 50 rise 7%

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Telecoms firm Vodafone Idea VODA.NS closed 4.9% higher at 6.87 rupees, it rose as much as 7.3% during the session

** The Indian government is weighing multiple options to provide relief to VODA on regulatory dues worth 840 billion rupees ($9.77 billion), Economic Times reported

** The company did not immediately respond to a Reuters' request for comment

** Stock down ~14% YTD

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Garden Reach Shipbuilders & Engineers GRSE.NS gains 6.4% to 3,499 rupees

** Stock top percentage gainer on Nifty small-cap index .NIFSMCP100, which is up 0.8%

** Over 170,000 shares traded in eight block deals at 3,320-3,470.50 rupees each, per LSEG data

** Price at 1%-5.6% premium to Friday closing price of 3,287.60 rupees

** Stock up 116% YTD

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Indian solar pumps maker Oswal Pumps OSWP.NS jumps 4.3% to 640.3 rupees on first day of trading

** Stock opened at 634 rupees vs issue price of 614 rupees; co valued at ~$843 million

** IPO consists of fresh share issue worth 8.9 billion rupees, sale of 8.1 million existing shares

** IPO was subscribed 34.42 times, driven by qualified institutional buyers subscribing by 88.08x

** "We believe the IPO offers attractive entry for medium- to long-term investors seeking exposure to the confluence of agri-infrastructure and clean energy," said Gaurav Garg, research analyst at Lemonn Markets Desk

** Proceeds from fresh issue to fund co's capex plans, set up units in Haryana state, trim co and subsidiary's debt

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Shares of Siemens Energy India SIEE.NS were trading 2.1% lower on first day of trading at 2,780.1 rupees

** Stock opened at 2,840 rupees vs discovered price of 2,478.2 rupees

** Siemens Ltd SIEM.NS spun off its energy business to focus more on core business that meets demands of shareholders at German parent, Siemens AG SIEGn.DE; SIEM was down 2.1% at 3,284 rupees

** SIEE provides products and solutions across energy production, power generation and transmission

** Antique Stock Broking, HDFC Securities Research initiate coverage on stock with "buy" rating each

** Analysts said strong infrastructure, facilities and exclusive business rights in countries including Bhutan, Nepal, Sri Lanka and Maldives to act as significant advantages for co's growth

** Jefferies analysts said SIEE is country's largest pure-play T&D equipment player

** Siemens shareholders will receive one Siemens Energy India share for every SIEM share held

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Shares of Optiemus Infracom OPTI.NS jump 11.3% to 684.7 rupees, its highest level in nearly 5 months

** Mobile and telecom products firm's unit partners with smartphone maker OnePlus to manufacture IoT devices in India

** IoT or Internet of Things is the concept of connecting household devices to the internet

** The partnership aligns with OnePlus' long-term vision for India - OPTI

** OPTI stock on track to log busiest trading session in 10 months, volumes at 9.8x the 30-day avg

** Stock down ~2% YTD

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Shares of oil explorers, Oil India OILI.NS and Oil and Natural Gas Corp ONGC.NS gain 0.9% and 1.2%, respectively

** Brent crude futures LCOc1 were up on the day after gaining 7% on Friday as renewed strikes by Israel and Iran over the weekend increased concerns that the conflict could widen across the Middle East, fueling worries around oil export disruptions O/R

** JM Financial maintains "buy" on OILI and ONGC; says the firms are key beneficiaries of high crude prices

** Adds higher crude prices will likely boost OILI, ONGC earnings, with 15% and 25% production growth estimated in next 2-to-3 years

** ONGC top gainer on Nifty energy index .NIFTYENR, which is up 0.69%

** Year-to-date, OILI, ONGC up ~12%, 6% vs 2% rise in .NIFTYENR

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Shares of SJS Enterprises SJSE.NS climb 4.1% to 1,216.2 rupees

** Brokerage Elara Capital initiates coverage on stock with "buy", target price of 1,710 rupees

** Says co is leading manufacturer of aesthetic auto parts and is set to benefit from premiumisation of passenger vehicles and 2 wheelers

** Adds 1.6 billion capex for FY26 will aid expansion of export-ready verticals, enhancing average selling price

** Elara analysts say co trades at discount to peers; adds strong re-rating likely as expansions unfold

** Year-to-date, stock up 5.1%

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Shares of Indegene INEG.NS gain 1.4% to 591.6 rupees; stock rose as much as 3.5% on the day

** Brokerage Kotak Institutional Equities hikes fair value by 6% to 700 rupees, a Street-high; keeps "buy" rating

** Says growth recovery for FY26 is on track, tariffs uncertainties have not impacted demand significantly

** INEG provides digital services in the biopharma industry; major chunk of its revenue comes from North America

** Kotak expects co to deliver double-digit revenue growth in FY26, backed by strong deals pipeline, better industry outlook and lower client-specific headwinds

** Stock rated "hold" on avg, median PT is 610 rupees - data compiled by LSEG

** INEG down ~2% year-to-date

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))