CLSA India analyst Indrajit Agarwal has issued a bullish outlook on aluminium and copper for FY27 while flagging near-term downside risks for steel, drawing a sharp distinction within the broader metals complex. Aluminium prices are expected to rise on supply disruptions and strengthening demand, with Indian non-ferrous producers holding a structural cost advantage that improves their margin resilience relative to global peers. Copper similarly earns a favorable call, supported by demand fundamentals that CLSA views as durable through the fiscal year. Steel, by contrast, faces more immediate pressure, Agarwal's framing signals valuation caution for steel-exposed positions in the near term, though no specific price targets or downside magnitude are cited in the note. The cement sector adds a separate layer of complexity: earnings pressure is expected now, with a recovery anticipated later in FY27. For investors managing sector allocation across Indian industrials, the CLSA view effectively bifurcates the metals space, non-ferrous as a hold or add, steel as a wait-and-watch, and cement as a back-half recovery trade.
The Indian government has launched an OFS to sell up to 6.5% of its LIC stake, opening for non-retail investors on August 4, 2026, at a floor price of Rs 382 per share, about 11% below Monday's close. The discounted offering is likely to pressure LIC shares in the near term as supply increases sharply.
More than a dozen major Indian companies including Bharti Airtel, ONGC, Pidilite, Nykaa, DLF, and Ather Energy report April-June 2026 earnings on August 4. Results span telecom, energy, consumer goods, real estate, and EV sectors, giving markets a broad read on corporate health mid-earnings season.
Amazon shares hit a new all-time high Monday, pushing its market cap above $3 trillion following a sustained post-earnings rally. The milestone places Amazon among the very few companies globally to reach this valuation, with investor focus on AWS and advertising growth driving the move.
Sensex Gains 500 Points as Oil Falls on Iran Talks
The Sensex rose around 500 points and the Nifty crossed 24,500 on Monday after Donald Trump announced talks with Iran, pushing oil prices lower. IndiGo, ITC, FMCG, and metals led the gains as cheaper crude eased cost and inflation concerns.
