Macquarie has issued a constructive outlook on Indian metals, naming Tata Steel and Hindalco as key beneficiaries of an improving cycle, while signaling Tata Steel as the stronger near-term earnings recovery play. The brokerage's view rests on the metals cycle turning supportive, a condition that historically lifts margins across steel and aluminium producers, though the pace and magnitude differ by commodity and balance sheet position. Tata Steel's recovery thesis is tied to operational leverage, as volumes and realisations improve, earnings tend to amplify disproportionately given the company's fixed-cost base, particularly across its European operations which have weighed on consolidated margins. Hindalco, while also a beneficiary, faces a different earnings profile shaped by its Novelis subsidiary and global aluminium price dynamics. Investors will watch for updated target prices from Macquarie as the cycle thesis plays out, with quarterly earnings from both companies serving as near-term validation points for the brokerage's stance on relative positioning.
Indian startups raised $5.2 billion across 501 deals in H1 2026, down 9% in value but up 7% in deal count year-on-year, per the Inc42 Indian Tech Startup Funding Report. The drop is driven by fewer mega-rounds, while AI funding surged 317% and growth-stage deal activity hit a multi-year high.
The BSE Sensex fell 893 points and the Nifty 50 shed 279 points on June 30, 2026, wiping out roughly Rs 6 lakh crore in investor wealth in a single session. Both indices dropped 1.16%, closing at 76,200.68 and 23,824.10 respectively.
Kotak Mahindra Bank shares fell nearly 3% to Rs 397.6 after CEO Ashok Vaswani announced plans to exit the bank. Investor concern now centres on succession timing and whether the bank's ongoing digital and deposit-growth strategy will stay on track.
South Korea's Kospi dropped 3% at Monday's open while Japan's Nikkei fell 1%, as escalating US-Iran conflict triggered a broad risk-off move across Asian markets. South Korea's heavy reliance on Middle East oil imports makes it especially vulnerable to geopolitical shocks of this kind.
