Stock Market Today Live, July 28: Sensex, Nifty likely to open flat as crude eases; Fed decision, chip selloff in focus

CLSA | BEL Q1 FY27 Review

Rating & Target Price

– Outperform.

– Target price ₹522.

Q1 FY27 Highlights

– Order inflow remained weak.

– Government focused on ME conflict.

– Stronger order pipeline ahead.

– Revenue grew 25% YoY.

– Growth despite flat backlog.

Management Commentary

– FY27 guidance reiterated.

– Strong order inflow expected.

– EBITDA margin guidance 28%.

– Guidance eases investor concerns.

Growth Triggers

– Joint bid for 5th-gen fighter.

– Partnered with L&T.

– Opportunity worth US$12 billion.

– Indian S-400 system supports outlook.

Impact

– Positive.

– Guidance remains intact.

– Strong execution continues.

– Large defence opportunities ahead.

– Supports long-term rerating.

Key Takeaway

– CLSA remains positive on BEL with a ₹522 target price, highlighting strong revenue growth, reaffirmed FY27 guidance, and major defence opportunities, including the 5th-generation fighter aircraft program, as key drivers for sustained long-term growth and valuation rerating.

Global bits

USA: Wall Street ended mixed as investors await Big Tech earnings and the Fed rate decision.

India: Engineering exports jumped, the rupee strengthened, RBI is likely to keep rates unchanged.

China: Chip sector remained in focus as CXMT surged on debut, industrial profit growth slowed, and Zhongji Innolight priced its HK IPO below the top range.

South Korea: KOSPI plunged as semiconductor stocks, including SK Hynix, fell amid AI and China competition concerns.

Indonesia: Markets weakened after the surprise resignation of the central bank governor raised concerns over policy independence.

Pakistan: Central bank kept the policy rate unchanged at 11.5% despite rising energy cost risks.

Hong Kong: Shein’s IPO faces investor scrutiny due to slowing growth and declining profitability.

United Kingdom: Shop price inflation eased, the pound strengthened, and the FTSE 100 edged higher.

Ireland: Consumer sentiment slipped due to ongoing cost-of-living concerns.

France: Canal+ signed a $1B+ cinema deal, while LVMH reported modest sales growth.

Germany: Audi announced restructuring plans following weak sales in China and the U.S.

Eurozone: ECB signaled another rate hike may still be needed to contain inflation.

Italy: Italgas posted a 25% rise in first-half core earnings.

Brazil: Government will continue tariff talks with the U.S., expecting progress after elections.

Market analysis by Vikram Subburaj, CEO, Giottus.com: July 28, 2026

Bitcoin was trading around $65,000 on July 28, extending its recovery from the early-July low near $57,750 but continuing to struggle below a key resistance zone.The world’s largest cryptocurrency has regained more than 12% from its monthly low. However, the rally has lacked strong conviction. Bitcoin is still struggling to make a decisive move above the $68,000 level. Institutional inflows remain subdued. Macroeconomic uncertainty is also keeping investors cautious and limiting risk appetite.

The immediate technical picture remains finely balanced. Bitcoin has established $64,000-$65,000 as its first support zone, followed by stronger support around $62,500-$63,000 and the psychologically important $60,000 level. The $66,800-$68,000 range is the first major resistance level for Bitcoin. If Bitcoin moves above this range, the next key level is $69,000-$70,000. A strong close above $69,000-$70,000 could indicate fresh bullish momentum. It would also improve the medium-term market outlook.

Institutional demand has softened after a strong run earlier this month. US spot Bitcoin ETFs attracted robust inflows during mid-July before witnessing two consecutive sessions of sizeable outflows last week as investors booked profits near resistance. Although cumulative ETF inflows remain positive for the month, the pace has slowed recently. This moderation has limited Bitcoin’s upward momentum. As a result, Bitcoin has been unable to break above key resistance levels despite improving market sentiment.

On-chain metrics remain considerably healthier than price action suggests. More than 60% of circulating Bitcoin supply has remained dormant for over one year, while exchange reserves continue to hover near multi-year lows. This indicates that long-term holders are largely unwilling to distribute coins despite recent volatility. The persistent decline in exchange balances continues to reduce immediately available selling supply, providing structural support even as ETF demand softens.

Among large-cap cryptocurrencies, Ethereum remains one of the stronger large-cap cryptocurrencies. It is trading near $1,893 and is performing better than most major altcoins ahead of the Fed meeting. Solana is also performing better than Bitcoin, gaining around 1.7% during the session. Meanwhile, XRP and BNB are moving in line with the overall market as investors remain cautious.

The market’s immediate focus is the 29 July Federal Reserve policy decision, where futures markets overwhelmingly expect policymakers to leave interest rates unchanged. Investors will instead scrutinise Chair Jerome Powell’s guidance on the timing of potential rate cuts. Markets will next watch the US GDP, inflation, and jobs data. These reports could affect the US dollar and market liquidity. This could also impact cryptocurrencies and other risk assets.

Our advice: For investors, patience remains the prudent approach. A convincing move above $68,000-$70,000 would strengthen the bullish case, while a break below $64,000 could trigger another test of lower support levels. Until macro uncertainty eases and institutional demand regains momentum, staggered accumulation and disciplined risk management remain preferable to chasing short-term price swings.

Zaggle partners with Daimler India Commercial Vehicles to digitise fleet payments for BharatBenz operators

Zaggle Prepaid Ocean Services Ltd (NSE: ZAGGLE | BSE: 543985), a spend management and SaaS-led fintech platform, has partnered with Daimler India Commercial Vehicles (DICV) to build a digitally integrated payment and credit ecosystem for BharatBenz fleet operators across India.

As part of the partnership, Zaggle will deploy its Zaggle Zatix Fleet Expense Management Platform, integrated with the Zaggle Corporate Credit Card Program, for DICV’s fleet partners. The solution aims to help fleet operators manage operating expenses more efficiently through a technology-driven platform.

The collaboration combines DICV’s extensive BharatBenz dealer and service network with Zaggle’s AI-powered spend management and payment solutions to improve financial control, operational efficiency and working capital management for fleet businesses.

Daimler India Commercial Vehicles supports a nationwide BharatBenz ecosystem with more than 400 service touchpoints and over 200,000 commercial vehicles operating on Indian roads. The initiative is expected to simplify administrative processes by enabling faster, more transparent and digitally managed transactions across the BharatBenz network, allowing fleet operators to focus on improving vehicle uptime and operational efficiency.

Eligible fleet operators will gain access to the Zaggle Zatix platform and the Corporate Credit Card Program, enabling seamless servicing and maintenance payments, real-time expense tracking, policy-based spending controls, digital reconciliation and easier access to credit.

The programme is being rolled out in phases, with implementation already underway at select dealerships. Over time, it is expected to expand across the BharatBenz dealer network and evolve into a broader fleet financial services ecosystem covering fuel payments, FASTag recharges, insurance premium payments, loyalty programmes and other digital payment solutions.

India targets 5% share in global toy trade by 2032, sets up dedicated task force

Government sets up task force to boost toy manufacturing, target 5% global market share by 2032

The Centre has formed a task force to strengthen toy manufacturing and raise India’s share in the global toy market from 1.9% to 5% by 2032.

Happiest Minds Q1 FY27 profit rises 18.3% to ₹67.6 crore, revenue grows 14.3%

Happiest Minds Q1 FY27 profit rises 18.3% to ₹67.6 crore on AI-driven growth

Happiest Minds reported an 18.3% rise in Q1 FY27 profit to ₹67.6 crore as revenue grew 14.3%, supported by strong momentum in AI and digital services.

IndiGo appoints Kiran Thadimarri as Chief Financial Officer

IndiGo appoints Kiran Thadimarri as CFO, Gaurav Negi becomes MD’s advisor

IndiGo has appointed Kiran Thadimarri as Chief Financial Officer, effective July 28, while outgoing CFO Gaurav Negi has been named Advisor to the Managing Director.

FAA orders inspections of hundreds of Boeing 737 MAX jets over seat installation issue

FAA orders inspections for 453 Boeing 737 MAX jets over seat installation issue

The FAA has proposed inspections for 453 Boeing 737 MAX jets in the US over concerns that passenger seats may have been incorrectly installed.

Japan’s Nikkei tumbles over 3% as chip stock selloff deepens after Wall Street decline

Japan’s Nikkei falls over 3% as global chip selloff hits semiconductor stocks

Japan’s Nikkei fell over 3% as a global chip selloff hit Advantest and Tokyo Electron after Nvidia’s decline, ahead of key U.S. tech earnings.

South Korea’s KOSPI falls over 7% as China chip threat hits SK Hynix, Samsung

South Korean shares tumble as chip selloff and China competition fears hit KOSPI

South Korea’s KOSPI fell over 7% as SK Hynix and Samsung tumbled amid a global chip selloff and growing concerns over China’s semiconductor advances.

Gold slips as firm dollar weighs; focus turns to Fed meeting

Gold prices edged lower on Tuesday, pressured by a stronger dollar, while markets looked to the Federal Reserve’s upcoming policy decision for clues on the ‌interest rate outlook. 

Spot gold fell 0.5% to $4,056.03 per ounce by 0110 GMT. U.S. gold ⁠futures for August delivery lost 0.5% to $4,056.70. – Reuters

TATA POWER Q1FY27

Q1 FY27 CONS NET PROFIT UP 10.95% AT ₹1,175.93 CR (YOY), UP 18.08% (QOQ)

REVENUE UP 5.63% AT ₹19,051.26 CR (YOY), UP 27.86% (QOQ)

EBITDA DOWN 3.04% AT ₹4,013.29 CR (YOY), UP 54.40% (QOQ)

MARGINS 21.06% V 22.95% (YOY), V 17.44% (QOQ)

SEGMENT WISE 

THERMAL & HYDRO ; Revenue up 7.2% YOY to ₹5,192.83 Cr, up 113.3% QOQ

Profit up 28.8% YOY to ₹1,098.24 Cr, up 131.2% QOQ

RENEWABLES ; Revenue up 4.0% YOY to ₹3,771.46 Cr, down 5.8% QOQ

Profit up 7.6% YOY to ₹1,210.40 Cr, up 32.2% QOQ

TRANSMISSION & DISTRIBUTION ; Revenue up 13.2% YOY to ₹11,440.70 Cr, up 6.9% QOQ

Profit up 7.4% YOY to ₹774.99 Cr, down 42.9% QOQ

OTHERS : Revenue down 2.4% YOY to ₹106.44 Cr, down 6.7% QOQ

Loss widened to ₹(76.68) Cr vs loss ₹(29.68) Cr YOY | vs loss ₹(36.37) Cr QOQ

Aeroflex Industries Ltd Q1FY27 Results:-

Revenue 145.38 Cr vs 84.33 Cr

(+72.38% YoY┃+15.53% QoQ)

EBITDA 33.49 Cr vs 15.48 Cr

(+116.38% YoY ┃+11.54% QoQ)

EBITDA Margin 23.04% vs 18.35% YoY & 23.86% QoQ

PBT 25.89 Cr vs 9.71 Cr

(+166.79% YoY┃+14.70% QoQ)

PAT 18.79 Cr vs 7.17 Cr

(+162.22% YoY┃+6.57% QoQ)

Other Income 0.60 Cr vs 0.33 Cr YoY & 0.62 Cr QoQ

WATCH: Today’s stock recommendation

FIIs net sell ₹1,688 crore; DIIs net buy ₹2,329 crore in equity cash trades on July 27, 2026

Instl. Investors EQUITY Cash Trades PROV. – 27/07/2026 : Rs. CRS. : 

FIIS : SELL -1,688 (11,696-13,384)

DIIS : BUY +2,329 (15,937-13,608)

JK PAPER: Q1 FY27 RESULTS

* Net Profit: ₹130.12 crore ↑64.5% YoY, ↑41.5% QoQ

* Revenue: ₹1,887.17 crore ↑13.6% YoY, ↓4.0% QoQ

* EBITDA: ₹320.90 crore ↑17.8% YoY, ↑15.0% QoQ

* EBITDA Margin: 17.01% vs 16.41% YoY, 14.20% QoQ

Godfrey Phillips India Limited Q1FY27 Results

#Q1Results #Q1FY27 #Stockmarket #Nifty #Godfrey 

Revenue 3819.56 Cr vs 1813.26 Cr

(+110.65% YoY┃+9.58% QoQ)

EBITDA 181.44 Cr vs 337.57 Cr

(-46.25% YoY ┃-67.18% QoQ)

EBITDA Margin 4.75% vs 18.62% YoY & 15.86% QoQ

PBT before Share of JV & Associates 222.83 Cr vs 383.29 Cr

(-41.86% YoY┃-60.45% QoQ)

PBT 251.10 Cr vs 447.99 Cr

(-43.95% YoY┃-62.43% QoQ)

PAT 198.39 Cr vs 356.28 Cr

(-44.32% YoY┃-61.95% QoQ)

PAT After Minority interest 198.39 Cr vs 356.31 Cr

(-44.32% YoY┃-61.95% QoQ)

Other Income 78.27 Cr vs 76.71 Cr YoY & 46.33 Cr QoQ

R R KABEL Q1FY27 

Revenue 3,168.20 Cr vs 2,058.60 Cr

(+53.90% YoY┃+6.89% QoQ)

Operating Profit 283.20 Cr vs 142.00 Cr

(+99.44% YoY┃+8.22% QoQ)

OPM 8.94% vs 6.90% YoY & 8.83% QoQ

PBT 276.00 Cr vs 120.00 Cr

(+130.00% YoY┃+22.50% QoQ)

PAT 205.20 Cr vs 89.70 Cr

(+128.76% YoY┃+22.22% QoQ)

EPS 18.14 vs 7.94 YoY & 14.85 QoQ

TAMILNAD MERCANTILE BANK Q1FY27 

Interest Earned 1,662.43 Cr vs 1,386.24 Cr

(+19.92% YoY┃+7.23% QoQ)

Net Interest Income 765.08 Cr vs 579.55 Cr

(+32.01% YoY┃+8.61% QoQ)

Other Income 238.36 Cr vs 231.23 Cr

(+3.08% YoY┃-1.41% QoQ)

Total Income 1,900.79 Cr vs 1,617.47 Cr

(+17.52% YoY┃+6.06% QoQ)

Operating Expenses 392.37 Cr vs 398.52 Cr

(-1.54% YoY┃-7.44% QoQ)

Operating Profit 611.07 Cr vs 412.26 Cr

(+48.22% YoY┃+16.99% QoQ)

OPM 32.15% vs 25.49% YoY & 29.14% QoQ

Provisions 53.93 Cr vs 8.34 Cr

(+546.64% YoY┃+187.02% QoQ)

PAT 411.51 Cr vs 304.89 Cr

(+34.97% YoY┃+10.13% QoQ)

EPS 25.99 vs 19.25 YoY & 23.60 QoQ

Advances 57,040.50 Cr vs 44,732.57 Cr

(+27.52% YoY┃+7.38% QoQ)

Deposits 64,408.69 Cr vs 53,803.20 Cr

(+19.71% YoY┃+4.37% QoQ)

GNPA 0.69% vs 1.22% YoY & 0.73% QoQ

NNPA 0.17% vs 0.33% YoY & 0.18% QoQ

ROA 2.14% vs 1.82% YoY & 2.05% QoQ

CAR 32.33% vs 31.55% YoY & 33.73% QoQ

SENORES PHARMACEUTICALS Q1FY27 

Revenue 180.21 Cr vs 132.56 Cr

(+35.95% YoY┃+2.87% QoQ)

Operating Profit 53.76 Cr vs 28.73 Cr

(+87.12% YoY┃+13.20% QoQ)

OPM 29.83% vs 21.67% YoY & 27.11% QoQ

PBT 39.46 Cr vs 26.49 Cr

(+48.96% YoY┃-16.75% QoQ)

PAT 30.45 Cr vs 21.18 Cr

(+43.77% YoY┃-16.96% QoQ)

EPS 6.61 vs 4.60 YoY & 7.96 QoQ

Epigral Q1 PAT rises 25% YoY to ₹99 crore; to invest ₹600 crore in epoxy resin, formulations, and new multi-purpose plant

Epigral Limited’s Q1FY27 PAT jumps 25% YOY to ₹ 99 Cr 

Epigral to Deploy ₹600 Crore Capex for Epoxy Resin & Formulations and for setting up Multi-Purpose Plant

Stock to buy today: PVR Inox (₹1,123.40) – BUY

Stock to buy today: PVR Inox (₹1,123.40) – BUY

PVR Inox share price has potential to target ₹1,300 over the next couple of months. Traders can buy PVR Inox shares now at ₹1,123.

Deeper financial markets are essential for India’s developed economy goal: RBI

Developed economy needs developed financial markets first: RBI Deputy Governor Jain

RBI Deputy Governor Rohit Jain says India must build deeper bond, forex and financial markets before becoming a developed economy under Viksit Bharat.

Johnson & Johnson reaches $5.5 billion deal in baby powder cancer litigation

Johnson & Johnson agrees to $5.5 billion settlement in talc baby powder cancer lawsuits

Johnson & Johnson will pay $5.5 billion to settle nearly all remaining talc baby powder ovarian cancer lawsuits, resolving 99.75% of claims.

US STOCKS: Wall Street ends mixed as investors focus on tech earnings

S&P 500 +0.02%, Nasdaq -0.18%, Dow +0.51%

South Korea’s KOSPI drops 7% as global chipmaker selloff deepens

South Korean shares plunged on Tuesday as a global selloff in chipmakers weighed ‌on technology heavyweights, pressured by concerns over intensifying competition from China ⁠and a steep decline in SK Hynix’s U.S.-listed shares.

The benchmark KOSPI dropped ‌500.47 points, or 7.41%, to 6,253.81, prompting the activation of “sidecar” ‌trading curbs on both the ‌KOSPI ⁠and the junior Kosdaq ⁠index, temporarily suspending programme trading.

Memory-chip maker SK Hynix sank 10% after its American depositary receipts (ADRs) fell to ‌a record low in New York and dropped below their initial U.S. offering price. Samsung Electronics, another ‌major index constituent, fell 9.15%. – Reuters

Japan’s Nikkei falls more than 3% on chip selloff

Japan’s Nikkei share average fell more than 3% on Tuesday, dragged down by ‌heavy losses in chip-related stocks after their U.S. peers closed lower overnight.

The ⁠Nikkei was down 3.59% at 62,599.14 as of 0034 GMT, while the broader Topix ‌was lower 2.44% at 3,966.87. – Reuters

Samsung, SK Hynix slide amid Nvidia financing worries, China competition

South Korean chip stocks slumped on Tuesday, with Samsung Electronics and SK Hynix falling as much as 9.5% and 10.9%, respectively, as investors ‌dumped AI-related bets amid mounting concerns over financing risks tied to AI infrastructure spending ⁠and intensifying competition from China.

SK Hynix’s U.S.-listed shares had already slumped overnight, closing at $143.02, below their initial public offering price of $149.

The ‌benchmark KOSPI was trading down 7.3% as of 0032 GMT.

The sector-wide selloff followed several developments ‌that renewed doubts about the sustainability of the ‌AI-driven semiconductor ⁠rally. – Reuters

Oil prices fall 1% as investors weigh pause in US strikes on Iran

Oil prices fell ⁠1% on Tuesday as market participants continued to weigh a pause in U.S. strikes on Iran, which has raised hope of a diplomatic solution to ‌their conflict and the normalisation of Middle East energy flows.

Brent crude futures were down $0.54, or 0.6%, at $87.82 by ‌0046 GMT. U.S. West Texas Intermediate crude was at $81.95 a ‌barrel, ⁠down $0.66, or 0.8%. – Reuters