Pratik Shah, National Financial Services Leader, EY India "The RBI's move marks a clear shift from rule-based to principles-based governance. While it gives bank boards greater flexibility in determining what deserves their attention, it does not dilute accountability. In fact, directors will increasingly be judged by the quality of oversight and outcomes rather than compliance with a prescribed agenda. For well-governed banks, this should free up management and board bandwidth to focus more sharply on strategy, risk management and long-term resilience. The amendments also enable greater delegation of routine operational matters (board committees) while requiring boards to clearly define reserved matters and reporting frameworks. By strengthening accountability, board priorities and the periodic review of delegated powers, the framework seeks to ensure that board discussions remain focused on strategy, risk governance and other matters of long-term importance. The real test, however, will lie in practical execution on how the board governance will play out given this flexibility."

The India-UK Comprehensive Economic and Trade Agreement (CETA) is expected to provide the biggest boost to India's export-oriented and labour-intensive sectors, as the UK has eliminated tariffs on almost 99% of the value of Indian exports. The primary beneficiaries are likely to be textiles and apparel, which will gain greater price competitiveness in the UK market, followed by gems and jewellery, leather and footwear, engineering goods, auto components, marine products, and processed food exporters. The agreement is also expected to support chemicals and pharmaceuticals through improved market access and regulatory cooperation. On the services side, IT, consulting, financial services and other professional services stand to benefit from enhanced market access and easier mobility for skilled professionals, creating long-term growth opportunities for Indian companies. 

The announcement of the trade agreement has already led to a positive re-rating in several export-oriented stocks, particularly in the textile and apparel space, indicating that the immediate optimism has been partly priced into valuations. However, the full economic benefits of the agreement are expected to unfold gradually over the coming years as companies secure higher export orders, expand capacities and improve profitability. Consequently, while the initial market reaction may have captured the announcement effect, there is still scope for further upside in fundamentally strong exporters that can effectively leverage the expanded access to the UK market and translate these opportunities into sustained earnings growth.

Pour Over Coffee Roasters, a specialty coffee company committed to origin-led sourcing and meaningful coffee experiences, has introduced its exclusive Colombian Collection in India, featuring distinctive lots from Colombia's renowned coffee-growing regions. The collection celebrates the evolution of Colombian coffee production, bringing together rare varietals, innovative processing techniques and the stories of producers who are redefining the world of specialty coffee.

The collection features exceptional coffees from Huila, a region globally recognised for its outstanding coffee quality, biodiversity and innovation. Among the highlights is the Papayo Natural, one of the world's rarest coffee varieties, with an impressive SCA cup score of 87. Papayo Natural offers notes of mango, pineapple, tropical fruits and berries, complemented by a juicy, silky body and bright acidity. It is known for its vibrant and expressive profile. The variety gained international recognition after being selected by a World Barista Champion for the competition stage.

"The coming into force of the India-UK Comprehensive Economic and Trade Agreement (CETA) marks a significant milestone for India's steel industry. By securing enhanced country-specific quotas and wider duty-free access to the UK market, the agreement provides Indian steel exporters with greater market certainty and a stronger competitive position in one of Europe's key industrial economies. The gains are particularly meaningful across several steel product categories where quota constraints had previously limited export potential - hot rolled steel and strips, merchant and light bars, welded tubes etc. Beyond the immediate increase in market access, the agreement creates a more predictable trade environment, enabling producers to plan capacity utilisation and long-term investments with greater confidence. At a time when India is pursuing ambitious steel capacity expansion targets under the Viksit Bharat vision, assured access to overseas markets such as the UK can support growth, scale, and export diversification. However, the industry must also prepare for the next phase of competitiveness. this duty-free window sits ahead of the UK's own carbon border mechanism, due from January 2027, after which embedded, emissions will start to matter for UK market access too. While the UK has maintained that CBAM is a domestic climate policy instrument and not part of the UK - India CETA, the CBAM remains an open and evolving strategic issue and the ability to pursue countermeasures through agreed mechanisms in case of UK CBAM materially impacting benefit from UK - India CETA in the future would be an important safeguard from India's perspective. Sustainable and low-carbon steel production will increasingly determine long-term export success. CETA therefore not only expands market access today but also underscores the need to accelerate the sector's green transition for the future."

The India-UK FTA coming into force today marks a genuinely consequential moment for Indian industry. Securing duty-free access for 99% of our exports is no small achievement, and its impact will be felt across sectors. Textiles stand out in particular. Our exporters in Tiruppur and Surat have long operated at a duty disadvantage against Bangladesh and Cambodia in the UK market, and that gap now closes, giving an entire manufacturing ecosystem room to grow. Marine products, pharmaceuticals, leather and engineering goods all stand to gain meaningfully as well. Our pharmaceutical exporters, for instance, are now positioned to compete in a market that imports nearly 30 billion dollars in medicines annually. Indian consumers, too, will benefit from more accessible Scotch, cosmetics and premium automobiles. But the deeper significance lies in the opportunities this creates for our MSMEs, farmers and fishing communities, who can now compete on genuinely equal terms.

These trade agreements with EU and UK are opening up a promising market for Indian module exports particularly as many of these countries are trying to diversify their procurement options. The EU has already passed several enabling legislation in this regard and we are keenly following these markets.

On World Youth Skills Day, Apna, India's leading early-career talent platform, today unveiled the Apna AI Readiness Pulse 2026, an analysis of AI-related skill signals on candidate profiles and AI-related job postings across its platform. The findings indicate that India's young workforce is increasingly showcasing AI-related skills early in its career journey, pointing to a broader shift in how candidates are preparing for an AI-led economy.

Young professionals are increasingly treating AI as an employability skill. AI-skill mentions on candidate profiles grew by nearly 18% year-on-year in Q1 FY27. The shift is visible across different levels of education. In Q1 FY27, postgraduate profiles recorded an approximately 27% year-on-year increase in AI-skill mentions, while graduate profiles saw a 15.7% increase. AI-related skills are also beginning to appear across diploma and ITI profiles, although from a smaller base, indicating that interest in AI is extending beyond graduate and postgraduate talent pools.

Central government employees currently receive HRA at three different rates depending on the city where they are posted:

30% of basic pay for X-category cities

20% for Y-category cities

10% for Z-category cities

Read full report here

Go Digit Life Insurance Limited (Digit Life Insurance), one of India's leading new-age life insurance companies, today announced the launch of Digit Life Pension Plan, marking its entry into the retirement solutions segment with two annuity offerings designed to help customers navigate changing retirement needs. The plan gives customers the flexibility to choose between a 100 percent guaranteed lifelong annuity and a combination of guaranteed and market-linked retirement income linked to the performance of the Nifty 50 Index.

Retirement planning in India is becoming increasingly important as people live longer and financial needs continue to evolve. Retirement today can span 25 to 30 years for many individuals, while medical inflation, projected at 13 percent in 2025, is adding pressure on long-term savings. Although guaranteed annuities provide predictable income, flat payouts may gradually lose purchasing power over time. Digit Life Insurance said Digit Life Pension Plan has been designed to address these challenges by giving customers greater flexibility to build retirement income based on their financial priorities and risk appetite.

 "The Indian Malt Whisky Association wholeheartedly welcomes the entry into force of the India-UK Comprehensive Economic and Trade Agreement. This is a visionary and forward-looking accord, for negotiating a deal that balances consumer interest, industry health, and India's global trade ambitions.

The phased reduction of duties on Scotch whisky, from 150% to 75% now and further to 40% over ten years, is a calibrated and sensible approach. It gives Indian consumers access to world-class spirits at fairer prices while providing domestic producers a clear and predictable runway. Indian single malts today stand shoulder to shoulder with the finest in the world, and we are confident this agreement will only deepen the appreciation for quality whisky in India, expanding the premium category for all players.

Equally significant is the access this agreement unlocks for Indian malts in the United Kingdom, one of the world's most discerning whisky markets. Our members see this as a historic opportunity to take the Indian single malt story, born of our unique climate, craftsmanship and character, to British consumers.

Anmasa, the company redefining how India's everyday staples are produced, personalised, and delivered, has raised Rs 30 crore in seed funding led by Fireside Ventures, with participation from Blume Ventures, existing investors, and select HNIs. The round takes the company's total capital raised to Rs 47 crore (approximately $5 million).

Rather than building another packaged-food brand, Anmasa is creating India's first hyperlocal fresh-staples company by bringing production closer to the consumer. Its neighbourhood micro-manufacturing stores prepare stone-ground flour, wood-pressed oils, and freshly milled spices in small batches only after an order is placed, delivering them within 90 minutes. The model has powered 23x growth over the past twelve months across Gurugram and Noida, and the new capital will fund expansion into Bengaluru and other metro and Tier-1 cities.

RIR Power Electronics Limited, one of India's leading manufacturers of high-power semiconductor devices and power electronics solutions, is pleased to announce that it will be listed on the National Stock Exchange of India Limited (NSE) with effect from Thursday, July 16, 2026, following the receipt of the necessary approval from the exchange for listing and trading of its securities. The company has been listed on BSE Limited (BSE) since 1986, reflecting its long-standing presence in India's capital markets.

Bombay Chartered Accountants' Society (BCAS), India's largest and oldest voluntary professional body of Chartered Accountants, celebrated its 78th Foundation Day in Mumbai, a milestone of its rich legacy of knowledge-sharing, professional upskilling, and nation-building.  

Continuing its annual tradition of leadership transition, BCAS announced its new office bearers during the Founding Day celebrations. CA Kinjal Shah assumed office as the new President of BCAS. 

Since House Rent Allowance is directly linked to basic pay, any increase in the fitment factor could significantly raise the monthly allowance. Read full report here

The Wealth Company Mutual Fund, part of Pantomath Group, today announced the launch of The Wealth Company Mid Cap Fund , an open-ended equity scheme predominantly investing in mid-cap stocks. The New Fund Offer (NFO) will open for subscription on July 15, 2026 , and close on July 29, 2026 .

The fund is designed to provide investors access to businesses that are already established yet continue to evolve, targeting companies with proven business models, strong competitive positioning and the potential to become tomorrow's market leaders. The Wealth Company Mid Cap Fund seeks to invest a minimum of 65 percent of its portfolio in equity and equity related securities of mid cap companies , while retaining the flexibility to invest in other equity opportunities and money market instruments for portfolio diversification and liquidity. The scheme will be benchmarked against the Nifty Midcap 150 TR I.

The launch marks the 11th fund introduced by The Wealth Company Mutual Fund in just 11 months since commencing operations, underscoring the AMC's rapid scale-up and its strategic focus on building a differentiated and future-ready investment platform.  

VSL PowerHive Pvt. Ltd., the battery and energy storage arm of Vikram Solar Limited, announced the expansion of its flagship brand VION with the launch of new 10 kWh and 15 kWh lithium iron phosphate (LFP) energy storage systems. 

Building on the strong response to its existing energy storage offerings, VION is broadening its portfolio with higher-capacity battery systems tailored for India's fast-growing Residential Energy Storage System (RESS) & rooftop solar segment, helping consumers make the most of their investments. The 10 kWh and 15 kWh solutions help homeowners maximize the benefits of both RESS and rooftop solar power, reduce dependence on the grid, and ensure reliable backup when needed. 

India-UK FTA: For Indian consumers, imported Scotch whisky, premium British cars, cosmetics, chocolates and select food products could get cheaper. Read full report here

Hitesh Sawhney, Partner, Price Waterhouse & Co LLP.

As of July 13, 2026, direct tax collections show that FY27 has begun on a strong note. Gross tax collections are up 16.11% and net tax collections have grown 16.40% year-on-year.

Corporate tax collections remain a key source of strength. Net corporate tax collections have risen 22.01%, while gross corporate tax collections are up 15.60%, reflecting resilient corporate profitability and steady compliance.

Non-corporate tax collections have also maintained healthy momentum. Gross non-corporate tax collections are up 15.02% and net collections have grown 11.66%, indicating increased tax compliance. STT collections continue to be particularly buoyant, rising 47.85%, supported by strong market activity and the revised STT rates effective on Futures and Options.

Importantly, net corporate tax collections have already reached around 19.5% of the Budget Estimates, while net non-corporate tax collections stand at 27.6%. This is a good and encouraging close to the first quarter, with three more quarters still ahead.

Overall, the trends suggest that direct tax mobilisation is on a firm footing for the year.

Lakhs of Indian crypto investors who incorrectly reported or omitted Virtual Digital Asset (VDA) income in previous tax returns still have an opportunity to fix those filings through the Income Tax Department's Updated Return (ITR-U) mechanism.

Crypto trading and investments platform Mudrex and global crypto tax platform KoinX have jointly launched Course Correct, a campaign to help Indian crypto investors file their taxes accurately before the July 31 deadline, and to raise awareness that returns filed incorrectly in prior years can still be fixed even if one has received tax notices.

Under Section 139(8A) of the Income Tax Act, taxpayers can voluntarily correct returns for up to four previous financial years, helping them avoid higher costs and prolonged scrutiny later. Despite this provision, awareness remains low.

Of the 6.45 lakh individuals who were subjected to TDS on crypto transactions in FY 2022-23, fewer than one in four, or only 1.39 lakh, disclosed such income in their tax returns, according to Income Tax Department data. 

Avinash Shekhar, Co-Founder & CEO, Pi42

"Bitcoin climbed close to $65,000 for the first time in more than three weeks, while Ethereum, XRP, and Dogecoin also moved higher after softer-than-expected U.S. inflation data lifted sentiment across the crypto market. Interestingly, the rally came even though the inflation data reduced expectations of an immediate Federal Reserve rate cut, showing that investors are drawing confidence from improving economic conditions rather than focusing on a single policy decision.

The gains were not limited to Bitcoin alone. Strength across Ethereum, XRP, and Dogecoin suggests that buying interest is returning to the broader crypto market, which is often a healthier sign than a rally led by just one asset. It indicates that confidence is gradually improving across the digital asset ecosystem.

Another important takeaway is how the market reacted to the news. Instead of being discouraged by lower chances of an immediate rate cut, investors focused on easing inflation and signs of a more stable economic environment. This shows that the market is becoming more balanced and is looking at the bigger picture rather than reacting to every headline.

For investors, this is a reminder that market recoveries are often built gradually. When confidence starts returning across multiple assets and is supported by improving economic conditions, it can create a stronger foundation for the next phase of growth than a rally driven by short-term excitement alone."

mFilterIt, a new-age, tech-driven company creating a safe, transparent, and secure digital ecosystem, today announced mPulse, its vision for the next era of digital advertising.

mPulse is an end-to-end Agentic AI Media Campaign Operating System that autonomously plans, orchestrates, executes, optimizes, and governs campaigns from a single intelligent platform. Built for today's omnichannel marketing landscape, it unifies campaigns across Google, Meta, DV360, OTT, and more.

As AI reshapes marketing, the industry is moving beyond automating individual tasks toward intelligent orchestration of the complete campaign lifecycle. mPulse enables brands and agencies to manage campaign briefing, planning, setup, optimization, reporting, and go-live through one connected agentic AI-powered ecosystem.

"We faltered... and did not adapt and move quickly enough," IBM CEO Arvind Krishna said in a letter to investors. Read full report here

The Prime Minister Internship Scheme aims to provide internship opportunities to one crore young people over five years in India's leading companies. Read full report here

BTC moved above $65K after June inflation data came in softer than expected. Headline CPI declined 0.4% month-on-month, its steepest fall since April 2020, while core inflation was flat. The data eased immediate concerns around further rate hikes and supported broader risk sentiment. BTC now faces resistance in the $66K-$67K range; a sustained move above this zone could open the path toward $70K. However, geopolitical tensions in the Middle East and elevated oil prices remain key risks, as renewed energy-driven inflation could limit the market's upside.

The Thesis

With Brent above $86 and the Strait of Hormuz effectively closed, Indian equities fell 0.63% while the signal rotated decisively into domestic healthcare and pharma API exports - sectors that earn forex on crude's rise or operate on non-discretionary demand. FII outflows of Rs 3,062 cr were absorbed by DII buying, preserving structural support. As Q1 FY27 earnings season opens today, IT services adds a second dollar-earning cushion against macro volatility.

Where We're Concentrated

Conviction clusters in healthcare - hospital chains, biopharma, and API manufacturing - with secondary threads in specialty materials and IT services. The unifying logic: hospitals earn domestically, pharma API exporters earn in dollars, and IT contracts hedge the rupee. The thesis breaks if a ceasefire reopens the Strait before FII outflows reverse, eroding the defensive premium these names currently carry.

Conviction Picks

Highest Conviction

Divi's Laboratories

API leader gaining as Strait-driven rerouting of global pharma supply chains amplifies dollar-denominated export demand.

Biocon

Biopharma leader with biosimilar export revenues acting as a natural dollar hedge as domestic crude cost pressures intensify.

Tata Consultancy Services

IT bellwether reporting Q1 FY27 results today; dollar revenues insulate margins from oil-shock volatility across domestic sectors.

Grasim Industries

Specialty chemicals and cement riding domestic infrastructure demand - a structural buffer against oil-shock input cost inflation.

Apollo Hospitals

Hospital network benefiting from defensive rotation; non-discretionary demand and zero crude input exposure insulate revenue.

One Thing to Watch

Brent at $90. A break above that level shifts crude from a sector-rotation catalyst to systemic risk - pressuring RBI's rate path, the rupee, and the pharma export margins that anchor this rotation's logic.

Akshat Siddhant, Lead quant analyst, Mudrex

Gold rebounded back above the $4,000 mark, trading near $4,075, after a softer-than-expected U.S. CPI report eased Federal Reserve rate-hike concerns. The relief allowed precious metals to recover even as crude oil climbed, with silver reclaiming the $58 level. Meanwhile, crude rose above $80 per barrel, extending weekly gains to more than 10%, after President Trump reinstated a blockade on Iranian vessels transiting the Strait of Hormuz. The soft inflation print now counterbalances the oil-driven inflation channel that had weighed on metals, though elevated energy prices keep that risk alive. A sustained decline in yields could help gold test the $4,100 resistance, while $ 3,990 acts as immediate support. 

Vikram Subburaj, CEO, Giottus.com

Bitcoin traded near $64,600 on Wednesday. It gained about 3.5% over the past 24 hours. Softer-than-expected U.S. inflation data weakened the dollar. This also reduced expectations of an immediate Federal Reserve rate increase.The cryptocurrency traded between roughly $62,250 and $65,050 over the previous 24 hours. Immediate support is near $64,000, followed by the stronger $62,200-$62,900 region. Resistance is located around $65,000, followed by $67,200.

On-chain indicators, however, suggest that the recovery remains incomplete. Bitcoin's True Market Mean is estimated at around $76,600. The short-term holder cost basis is around $72,200. This leaves the current Bitcoin price below key investor breakeven levels.Long-term-holder loss realisation recently accounted for 43% of total realised value, with losses peaking near $280 million daily. This indicates that some older investors continue to sell into periods of price strength.

Institutional demand also remains uneven. US spot Bitcoin ETFs attracted about $197.4 million during the July 6-10 week, but recorded a substantial $424.7 million outflow on July 13. Farside's July 14 figure showed a preliminary $21.1 million inflow, although several major fund readings were still unavailable.

Ethereum led the large-cap altcoins, rising about 4.9% to $1,869. BNB gained 1.9% to $580, XRP advanced 3.5% to $1.10, Solana rose 2.9% to $77.35, while TRON added about 0.5% to $0.326.

June US inflation eased to 3.5%, while core inflation slowed to 2.6%. Futures markets reduced the probability of a July Fed hike to about 16%, although they continued to price a roughly 60% chance of a September increase. Wednesday's US producer-price report, Fed Chair Kevin Warsh's Senate testimony and the July 28-29 policy meeting remain key catalysts. Higher oil prices linked to renewed Gulf tensions could revive inflation concerns.

Our advice: Investors should avoid chasing the relief rally. Staggered accumulation, limited leverage and disciplined position sizing remain preferable until Bitcoin sustains a move above $65,000 and ETF demand becomes more consistent.

Riya Sehgal, Research Analyst, Delta Exchange

June's softer U.S. inflation print has provided a tactical boost to global risk sentiment, but it has not fully resolved the broader macro uncertainty. Headline CPI slowed to 3.5%, while core inflation eased to 2.6%, prompting a pullback in the dollar and Treasury yields and supporting U.S. equities, crypto and precious metals.

Bitcoin has responded positively, reclaiming the $64,000 region and moving closer to the important $65,000-$66,000 supply zone. The two-hour structure remains constructive as long as BTC holds above $63,500-$64,000. A sustained breakout above $66,000 could strengthen the recovery, while a fall below $63,500 may expose the $62,900 area.

Ethereum continues to show stronger relative momentum. Its breakout above $1,830 keeps $1,900 in focus, although a move below $1,805 would weaken the near-term setup.

Gold received an initial lift from softer inflation but remains technically fragile below the $4,060-$4,100 resistance band.

The main risk is that much of June's inflation relief came from lower energy prices. With oil rising again amid renewed U.S.-Iran tensions, inflation may reaccelerate in the coming months. This could keep the Federal Reserve cautious and limit the upside in equities, crypto, gold and silver despite the immediate post-CPI relief.

Nischal Shetty, founder, WazirX

"Crypto markets bounced back after softer-than-expected U.S. inflation data eased concerns around further interest rate hikes. Bitcoin is trading above $64,400, while Ethereum has outperformed with weekly gains of over 4%. Once again, we're seeing how closely crypto responds to macroeconomic signals. Lower inflation improves the outlook for liquidity, and that naturally supports risk assets like crypto.

However, rising oil prices and geopolitical tensions could put inflation back under pressure in the coming months. Until we see sustained spot Bitcoin ETF inflows, continued institutional participation, stablecoin expansion and real-world asset tokenisation, short-term price action will continue to dominate.

For Futures traders, the focus now shifts to how the market reacts around key technical levels. According to analysts, many traders will be watching whether Bitcoin can establish strength above the $64,500-$65,000 zone, while the $63,000-$63,500 region remains an important area where buyers have recently stepped in. Rather than anticipating a breakout in either direction, these levels can help traders gauge market conviction, especially with macro data and institutional flows continuing to shape sentiment.

Traders could be watching whether ZEC can sustain momentum above the $560-$575 resistance range, where previous rallies have struggled to extend. On the downside, the $530-$540 zone may act as the first area of support if profit-taking emerges after the recent move higher."

IBM Stock Crash: IBM said its revenue for the three months ending in June rose just one per cent to $17.2 billion. Read full report here

Rajesh Palviya, Head of Research, Axis Direct

The Nifty 50 declined 158.95 points (0.66%) to close at 24,052.05 on Tuesday, while the Sensex lost 561.46 points to settle at 77,054.94, as renewed geopolitical tensions weighed on investor sentiment. The US decision to reinstate a blockade on Iranian shipping through the Strait of Hormuz pushed Brent crude above the $87-per-barrel mark, triggering broad-based profit booking across Realty, Auto and Financial stocks. Defensive buying in Pharma and selective strength in Metals, however, helped cushion the broader decline.

Global cues turned relatively supportive overnight. US equities ended higher, with the S&P 500 gaining 0.38% and the Nasdaq advancing 0.90%, after softer-than-expected June CPI data reinforced hopes of a more accommodative Federal Reserve policy. Gains in the Dow remained limited following cautious guidance from IBM. Asian markets traded mixed on Wednesday, with Hong Kong leading regional gains, while Brent crude eased towards $85 per barrel after President Trump withdrew the proposed 20% transit fee through the Strait of Hormuz. Although crude has cooled from recent highs, elevated energy prices continue to remain a key macro risk for India.

GIFT Nifty hovered around 24,040, indicating a largely flat start for domestic markets. Technically, the index remains in a consolidation phase with a cautious bias. The 24,200 level continues to be the immediate hurdle; a sustained move above it could pave the way towards 24,350-24,500. On the downside, 24,000, which coincides with the 20-day moving average, is a crucial support, and a decisive breach may accelerate weakness towards 23,900-23800. Going ahead, developments around crude oil prices and the Strait of Hormuz situation will remain the key drivers of near-term market direction.

Akshat Siddhant, Lead quant analyst, Mudrex

Bitcoin briefly climbed to the $65,000 level after a softer-than-expected U.S. CPI report improved risk sentiment and pushed Treasury yields lower. BTC showed strong resilience despite Fed Chair Kevin Warsh tempering the optimism, cautioning that a single inflation reading is not enough to declare victory over inflation, while elevated oil prices from the Strait of Hormuz standoff remain a risk. The buying pressure seems to be driven by whales, with 25,644 BTC leaving the exchanges in a single day, the strongest outflow in six months, pointing to accumulation. Markets are now watching U.S. PPI and mortgage data for the next catalyst. A sustained close above $65,000 could extend the rally towards $68,000, while $62,500 now serves as an important support level.

At the close on Tuesday, the total market cap of all BSE Sensex companies stood at Rs 4,79,47,933.