Deven Choksey of DRChoksey FinServ Pvt. Ltd. notes market volatility around expiry days and corporate result announcements, creating opportunities in fundamentally strong companies. He expresses confidence in FY25-26, citing lower input costs, interest rates, and improved business conditions. Choksey favors early-stage investments like Jio Financial, foreseeing significant growth in its AMC business and other sectors like power and pharmaceuticals.

Reliance Industries is reportedly considering an IPO for Jio Infocomm. The IPO could be worth Rs 52,200 crore. It would be the largest ever in Dalal Street. Reliance has begun informal talks with SEBI for approval. The company plans to sell a 5% stake in its telecom unit.

Tata Motors is set to acquire 100% of Iveco’s non-defence business from the Agnelli family’s Exor via a Dutch special-purpose vehicle. This would mark the Tata Group’s second-largest global acquisition after Tata Steel’s $12.1 billion Corus deal, surpassing the JLR buyout in 2008.

On July 29, seven stocks within the NSE F&O segment experienced a significant increase in futures open interest, contributing to an overall rise of over 8%. Amber Enterprises India led with a 75.53% surge, followed by Varun Beverages at 13.29% and Tata Chemicals at 11.41%, indicating heightened market activity and growing participant interest in these securities.

Income-seeking investors should note that today is the last day to buy shares of companies like BPCL and Coforge to qualify for their declared dividends. BPCL announced a final dividend of Rs 5 per share, while Coforge declared an interim dividend of Rs 4 per share. Several other companies, including Balkrishna Industries and United Breweries, also have upcoming ex-dividend dates.

Indian government bonds remained range-bound as traders awaited the U.S. Federal Reserve s policy decision. Sentiment was weak due to previous rate cut anticipation and upcoming debt auction of 320 billion rupees. U.S. Treasury bond gains offered slight support, with yields falling after positive auction results and weak job data, increasing expectations for a September Fed rate cut.

The Indian rupee weakened to its lowest level since mid-March, reaching 86.23 against the U.S. dollar, amid concerns over potential U.S. tariffs on Indian exports. President Trump suggested tariffs of 20%-25%, adding pressure from ongoing foreign portfolio outflows. While the Reserve Bank of India s intervention limited losses, uncertainty persists.

The IPO, open from July 30 to August 1, is priced in the range of Rs 366 to Rs 385 per share. At the upper end, M&B Engineering’s estimated market capitalisation stands at Rs 2,200 crore. Proceeds will go towards capex, debt repayment, and tech upgrades at its Sanand and Cheyyar facilities.

NSDL IPO: With NSDL making its market debut today, investors are re-evaluating the valuation, growth prospects, and strategic advantages of both key players in India s depository sector.

NSDL’s IPO, a Rs 4,012 crore offer for sale, opened with strong grey market momentum, hinting at 15% listing gains. Brokerages are largely bullish, citing NSDL’s near-monopoly in depository services, strong financials, and long-term potential, despite caution over regulatory and volume-related risks.