World Bank cuts India's FY26 growth to 6.3% on weak exports, trade barriers - GEPL Capital
Stocks in News
* ZEE ENTERTAINMENT: The company approved raising Rs.2,237 crore through the issuance of 16.95 crore warrants at Rs.132 per share to promoter entities Altilis Technologies and Sunbright Mauritius Investments, increasing promoter shareholding to 18.39%.
* BIOCON: The company launched a Rs.4,500 crore QIP at a floor price of Rs.340.2 per share, reflecting a 5% discount to the last closing price. Proceeds will be used to reduce debt, with Goldman Sachs (India), Kotak Mahindra Capital, and BofA Securities India acting as lead managers.
* VISHAL MEGA MART: Promoter Kedaara Capital, through Samayat Services LLP, is set to sell a 10% stake in the company via a Rs.5,057 crore block deal at a floor price of Rs.110 per share, reflecting a 12% discount to the last closing price.
* SONA BLW PRECISION FORGINS: The company will continue to be led by the current CEO and management team until a new chairman is elected, with the board set to meet in due course to finalize the appointment.
* TANLA PLATFROM: The company will spend up to Rs.175 crore on a share buyback via tender offer, repurchasing up to 20 lakh shares at Rs.875 each.
* HYUNDAI MOTORS INDIA: The company has commenced production of passenger vehicle engines at its Talegaon plant in Pune, Maharashtra.
* NETWORK18 MEDIA AND INVESTMENT: The company sold its 100% stake in subsidiary Media18 Distribution Services to Prakhar Commercials for Rs.1 lakh.
* ICIC BANK: RBI has approved the re-appointment of Sandeep Batra as Executive Director of the Bank for a two-year term from Dec 23, 2025, to Dec 22, 2027.
* MPHASIS: The company has entered into an agreement with Sixfold to enhance its insurance underwriting capabilities.
Economic News
* World Bank predicts India dhoom amid global gloom: The World Bank has revised India's FY26 growth forecast downward to 6.3%, citing weaker exports and rising global trade barriers, although India remains a fast-growing economy. Despite this, the RBI maintains a 6.5% growth projection for FY26. Globally, growth is expected to slow, impacting the South Asian region.
Global News
* China's housing market weakens further as price declines deepen despite policy support: China’s new home prices fell 0.2% MoM in May, marking a continued two-year stagnation despite multiple policy support measures. The decline follows a flat April and reflects renewed pressure post-peak season due to weak demand, policy fatigue, and buyer caution. The property sector, once contributing a quarter of GDP and housing 70% of household wealth, remains in a prolonged slump since 2021, worsened by developer debt issues. Though a private survey showed a 0.3% MoM price rise across 100 cities, official data revealed a 10.7% YoY drop in property investment and a 2.9% fall in sales (Jan-May). Smaller Tier 3/4 cities continued to decline, with prices down 0.3% in May. Analysts warn of steeper drops without stronger, city-specific policy actions. The government has pledged further steps to boost demand and stabilise the sector.
Key Highlights:
NIFTY SPOT: 24946.5 (0.92%)
TRADING ZONE:
Resistance :24850 (Pivot Level) and 25100 (Key Resistance)
Support: 24500 (Multiple Touches) & 24385 (Key Support).
BROADER MARKET: OUTPERFORMED
MIDCAP 150: 58768.5 (0.93%), SMALLCAP 250: 18549.2 (0.95%)
VIEW:Bullish till above 24385 (Key Support).
BANKNIFTY SPOT: 55944.9 (0.75%)
TRADING ZONE:
Resistance:56000 (Multiple Touches) / 56500 (Key Resistance)
Support: 55000 (Pivot Level) / 54700 (Key Support).
VIEW: Bullish till above 54700 (Key Support).
SEBI Registration number is INH000000081.
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