Banks power Nifty above 23,200 as RBI swap measures lift sentiment

Banks power Nifty above 23,200 as RBI swap measures lift sentiment


Key equity benchmarks rebounded on Tuesday, supported by lower crude oil prices, positive global cues and strong gains in banking stocks. Brent crude slipped below $93 per barrel as tensions between Israel and Iran eased, helping alleviate concerns over inflation and India’s import bill.

Global sentiment remained constructive, aided by a recovery in technology stocks across major markets. Banking shares outperformed after the RBI announced operational details of its forex swap facilities for FCNR(B) deposits, external commercial borrowings and overseas foreign currency borrowings. The measures are expected to encourage overseas fund-raising and lower hedging costs. The Nifty ended above the 23,200 mark, led by gains in banking and financial services stocks.

 

The S&P BSE Sensex advanced 394.50 points or 0.54% to 73,918.76. The Nifty 50 index rose 119.10 points or 0.52% to 23,242.10. The Nifty fell 1.25% in the previous two sessions.

State Bank of India (up 2.11%), ICICI Bank (up 1.98%) and Axis Bank (up 1.92%) boosted the Nifty today.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index rose 1.24% and the BSE 250 SmallCap Index added 1.39%.

The market breadth was strong. On the BSE, 2,782 shares rose and 1,423 shares fell. A total of 207 shares were unchanged.

The NSE’s India VIX, a gauge of the market’s expectation of volatility over the near term, slumped 8.53% to 15.58.

RBI’s Forex Swap Measures:

The RBI detailed two dollar-rupee swap facilities announced by Governor Sanjay Malhotra in the monetary policy statement on 5 June 2026.

Under the first scheme, the RBI introduced a US Dollar-Rupee forex swap facility for eligible ECBs raised by public sector undertakings and overseas foreign currency borrowings raised by authorised dealer category-I banks. The facility will be available for borrowings with a minimum maturity of three years and will remain open for eligible inflows received up to 31 December 2026.

Banks can sell US dollars to the RBI and simultaneously agree to buy them back at the end of the swap period. The swap will be priced at a fixed rate of 1.5% per annum, compounded semi-annually, with a maximum tenor of five years.

In a separate measure, the central bank launched a forex swap facility for fresh FCNR(B) deposits mobilised by banks. The facility covers deposits with maturities ranging from three to five years and will remain open for deposits raised up to 30 September 2026.

The FCNR(B) swap facility will be conducted at par, allowing banks to swap foreign currency inflows with the RBI while maintaining exposure to the underlying deposits. The scheme is expected to encourage foreign currency inflows and strengthen liquidity conditions.

Numbers to Track:

The yield on India’s 10-year benchmark federal paper slipped 0.62% to 6.906 compared with previous session close of 6.949.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 95.4100 compared with its close of 95.6100 during the previous trading session.

MCX Gold futures for 05 August 2026 settlement added 0.01% to Rs 154,789.

The US Dollar Index (DXY), which tracks the greenback’s value against a basket of currencies, was down 0.27% to 99.75.

The United States 10-year bond yield rose 0.13% to 4.558.

In the commodities market, Brent crude for July 2026 settlement lost $1.74 or 1.85% to $92.51 a barrel.

Global Markets:

US Dow Jones futures were up 109 points, indicating a positive start for Wall Street later today.

European indices traded higher on Tuesday as easing tensions in the Middle East improved risk appetite. Investors also awaited the European Central Bank’s interest rate decision due later this week.

Asian shares mostly ended in the green, supported by a rebound in semiconductor and artificial intelligence-related stocks after sharp declines in recent sessions. Reduced geopolitical tensions in the Middle East further boosted sentiment.

South Korea’s KOSPI led regional gains after chipmakers recovered from the previous session’s sell-off. Chinese equities also advanced after stronger-than-expected trade data for May.

China’s exports rose 19.4% YoY to a record $376.78 billion in May 2026, exceeding market expectations and marking the fastest growth since February. Growth was driven by robust demand for semiconductors and AI-related hardware, as well as inventory build-up ahead of anticipated energy price pressures. For the January-May period, exports increased 15.5% YoY to $1.71 trillion.

Iran on Monday suspended military strikes against Israel but warned it could resume attacks if Israeli operations in Lebanon continue. Israeli Prime Minister Benjamin Netanyahu later said the conflict involving Iran and Hezbollah was “not yet over”.

Overnight, US markets ended mixed. The S&P 500 and Nasdaq Composite advanced as semiconductor stocks rebounded from Friday’s sell-off and investors monitored efforts by President Donald Trump to preserve a fragile ceasefire between Iran and Israel.

The S&P 500 gained 0.30% to close at 7,405.73, while the Nasdaq Composite rose 0.86% to 25,929.66. The Dow Jones Industrial Average fell 80.77 points, or 0.16%, to end at 50,786.01.

Stocks in Spotlight:

Motilal Oswal Financial Services surged 5.25% to Rs 867.50 after HDFC Life Insurance Company acquired a 0.30% stake in the company through a block deal on Monday, 8 June 2026. According to NSE block deal data, HDFC Life Insurance purchased 18.20 lakh shares of Motilal Oswal Financial Services at Rs 842.50 per share.

Redington jumped 4.69% after Apple announced major software and artificial intelligence upgrades at its annual Worldwide Developers Conference (WWDC). Traders often view major Apple product and software announcements as positive for Redington due to its exposure to Apple’s hardware ecosystem and sales growth in India.

Aye Finance climbed 8.68% after the companys board approved raising up to $15 million through issuance of non-convertible debentures (NCDs) on a private placement basis. The company will issue senior, secured, rated, listed, redeemable and transferable NCDs with a face value of Rs 1 lakh each for cash at par. The fundraising amount will be equivalent to up to $15 million in Indian rupee terms.

JNK India surged 15.70% after the company received a large order from CC7 Emirates Engineering Solutions L.L.C., UAE for the supply of waste gas handling systems. According to the companys classification, a large order is valued between Rs 100-300 crore.

Grasim Industries advanced 1.49% after the companys board approved capex of Rs 3,094 crore for the expansion of Lyocell, third-generation Cellulosic Staple Fibre (CSF) capacity at Harihar, Karnataka.

SML Mahindra advanced 1.98% after the company reported an 11.64% year-on-year increase in commercial vehicle (CV) sales to 1,678 units in May 2026, compared with 1,503 units sold in May 2025.

Ratnaveer Precision Engineering added 2.88% after the company announced that its board is scheduled to meet on Thursday, 11 June 2026 to consider raising funds via equity shares through various modes.

Avantel rose 4.35% after the company secured a contract worth Rs 9.94 crore from the Defence Research and Development Organisation (DRDO), under the Ministry of Defence for the development and testing of satellite terminals for GSAT.

Marsons rose 2.29% after it had secured an order worth Rs 9.48 crore from West Bengal State Electricity Transmission Company (WBSETCL) for the repair, inspection and testing of power transformers.

VA Tech WABAG surged 2.72% after it had secured a design-and-build contract for the proposed Ajman Sewage Biorefinery Plant Phase 3 in the United Arab Emirates (UAE) from Ajman Sewerage (Private) Company.

IRB Infrastructure Developers shed 0.68%. The company, along with its two sponsored Infrastructure Investment Trusts (InvITs), reported a 25.30% year-on-year increase in toll revenue for May 2026.

JSW Steel shed 0.08%. The company reported consolidated crude steel production of 22.93 lakh tonnes in May 2026, registering a 15% year-on-year increase compared with 19.96 lakh tonnes produced in May 2025.

IPO Update:

Hexagon Nutrition received bids for 1,14,24,50,073 shares as against 2,16,02,008 shares on offer, according to stock exchange data at 16:25 IST on Tuesday (9 June 2026). The issue was subscribed 52.89 times.

The issue opened for bidding on 5 June 2026 and it will close on 9 June 2026. The price band of the IPO is fixed between Rs 42 to Rs 45 per share.

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Broker’s Call: InterGlobe Aviation (Buy)

Broker’s Call: InterGlobe Aviation (Buy)


Emkay Global

Target: ₹5,200

CMP: ₹4,537.60

InterGlobe Aviation (Indigo)’s management announced aggressive targets for FY30 at its CY26 Analyst Day – about 300 billion capacity (ASK), >550 aircraft fleet, about 200 million passengers, and about 3,000 daily flights, with a mid-teens FY28-30E ASK CAGR. Narrow bodies are expected to be Indigo’s core, but new configurations will be introduced.

However, the FY27 outlook is volatile and the management has guided for a broad single-digit growth in ASK year on year amid capacity rationalisation (variable cost is not met), with passenger range-bound (about 125 million).

Pricing, however, would drive earnings growth, as seen in other consumption industries. Normalisation of the West Asia sector is crucial for driving the international segment, and status of the conflict is a primary near-term determinant.

Indigo is also optimistic about the launch of XLRs (delivered two of the nine annual target), and upgrade of features with regard to meals and seats for making long-haul flights and Stretch more attractive.

The government of India’s fuel pricing support is a positive, but more reforms are required for the industry to sustain during adverse cycles.

Indigo is evaluating fuel hedging for international flights (as do competitors in Europe and Asia). We lower FY27E ARPU growth from 8 per cent to 6 per cent, but increase the yield accordingly, thus retaining our earnings estimate and TP of ₹5,200; BUY.

Published on June 9, 2026



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Meet all 48 FIFA World Cup 2026 captains: From Lionel Messi to Cristiano Ronaldo; check full list

Meet all 48 FIFA World Cup 2026 captains: From Lionel Messi to Cristiano Ronaldo; check full list


Football’s most celebrated global tournament is almost upon us. The 2026 FIFA World Cup is just days away from its opening match on June 12, and anticipation continues to build with every passing moment.

This edition is poised to rewrite several chapters of World Cup history. Jointly hosted by the United States, Mexico and Canada, the tournament marks the sport’s return to North American soil for the first time in 32 years. It is also the most expansive edition ever staged, with 48 nations competing instead of the customary 32, pushing the total number of matches from 94 to 104.

Beyond records and statistics, the World Cup has long been a stage where true leaders emerge. Icons such as Lionel Messi, Fabio Cannavaro and Franz Beckenbauer built lasting legacies through their composure, decision-making and winning mentality on the pitch. With the field now expanded to 48 teams, the captains leading their nations will face an even greater test of character and quality as each side chases the sport’s ultimate prize.


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As the group stage gets underway on June 12, skippers from across the globe will be tasked with steering their squads through one of the most competitive and expansive World Cups in history.

All 48 FIFA World Cup 2026 Team Captains

Mexico: Edson Álvarez

South Africa: Ronwen Williams

South Korea: Son Heung-min

Czech Republic: Ladislav Krejčí

Canada: Alphonso Davies

Bosnia and Herzegovina: Edin Džeko

Qatar: Hassan Al-Haydos

Switzerland: Granit Xhaka

Brazil: Marquinhos

Morocco: Achraf Hakimi

Haiti: Johny Placide

Scotland: Andy Robertson

USA: Tim Ream

Paraguay: Gustavo Gómez

Australia: Mathew Ryan

Türkiye: Hakan Çalhanoğlu

Germany: Joshua Kimmich

Curaçao: Leandro Bacuna

Ivory Coast: Franck Kessié

Ecuador: Enner Valencia

Netherlands: Virgil van Dijk

Japan: Wataru Endo

Sweden: Victor Lindelöf

Tunisia: Ellyes Skhiri

Belgium: Youri Tielemans

Egypt: Mohamed Salah

Iran: Mehdi Taremi

New Zealand: Chris Wood

Spain: Rodri

Cape Verde: Ryan Mendes

Saudi Arabia: Salem Al-Dawsari

Uruguay: José María Giménez

France: Kylian Mbappé

Senegal: Kalidou Koulibaly

Iraq: Jalal Hassan

Norway: Martin Ødegaard

Argentina: Lionel Messi

Algeria: Riyad Mahrez

Austria: David Alaba

Jordan: Ihsan Haddad

Portugal: Cristiano Ronaldo

DR Congo: Chancel Mbemba

Uzbekistan: Eldor Shomurodov

Colombia: James Rodríguez

England: Harry Kane

Croatia: Luka Modrić

Ghana: Jordan Ayew

Panama: Aníbal Godoy

How to watch and stream FIFA World Cup 2026 in India

You can watch FIFA 2026 on Zee’s new Unite8 Sports network (Unite8 Sports 1, Unite8 Sports 1 HD, Unite8 Sports 2, and Unite8 Sports 2 HD). Multiple group-stage matches that will take place simultaneously will be aired across the four channels with English and Hindi feeds. All games will also be streamed live on the Zee5 app and website.

Link: https://www.zee5.com/



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WWDC: Apple's 2026 platform updates focus on refinement over reinvention

WWDC: Apple's 2026 platform updates focus on refinement over reinvention


Apple unveiled a wide range of changes coming with iOS 27, iPadOS 27, macOS 27, watchOS 27 and visionOS 27 at its Worldwide Developers Conference (WWDC) on June 8. These updates focus on speed, performance, personalisation, parental controls, productivity, health, and more.

 


From faster AirDrop transfers and redesigned search experiences to new child-safety tools, health-tracking capabilities and upgrades for Vision Pro, Apple’s upcoming platform updates suggest the company is focusing on refining the overall experience for users rather than introducing a large set of entirely new features.

 


Here is a closer look at what is coming and how it could affect the user experience.

 


Apple is trying to make everyday interactions faster


AirDrop


Apple has announced that AirDrop transfers will become up to 80 per cent faster across supported devices. For users deeply invested in Apple’s ecosystem, faster AirDrop could mean less waiting when moving work between devices.


Universal Search


Apple is also refining search experiences across Spotlight, Photos and Mail. Many users do not always remember exactly where a file, email or image is stored. Instead, they remember fragments such as a keyword, location or approximate date. With updated indexing, users should be able to find files more easily.


Mail


Apple said Mail will introduce a new ranking system for Top Hits, designed to surface more relevant results. Combined with broader search improvements across the system, the goal appears to be helping users find information with fewer searches and less scrolling.


Smooth and responsive architecture


The company said iPhone and iPad apps will launch up to 30 per cent faster, photos will load up to 70 per cent faster in the Photos app, and browsing and transferring files between external drives and iPad will become up to five times faster, bringing the experience closer to Finder on Mac.

 


Network transitions have also been upgraded. According to Apple, devices will now be smarter about when to stay connected and when to switch networks between Wi-Fi and cellular. The company also said chats in Messages will not slow down when users are sharing large files. Additionally, there will be a visual indicator to show the file transfer status in the chats.


Safari to organise the web for you


Another update that could affect everyday usage is Safari’s new tab organisation capability.

 


Modern web browsing often turns into digital clutter. It is common for users to accumulate dozens of tabs spanning work projects, shopping research, travel planning, news articles and personal interests.

 


Apple’s new organisation tools aim to automatically group related tabs together. The benefit is not necessarily that users gain a new feature, but that they may no longer have to perform as much manual organisation themselves.

 


Someone researching a holiday, for example, could see flight searches, hotel bookings and destination guides grouped together, while work-related tabs remain separate.

 


The broader goal appears to be reducing the amount of browser management required to keep information organised.

 


Apple is also introducing a Notify Me capability that can alert users when information they are waiting for becomes available or changes. While Apple has positioned it as part of its broader intelligence push, the practical value is straightforward: users may no longer need to repeatedly check websites or services for updates themselves.


Liquid Glass becomes customisable


Apple’s Liquid Glass design language continues to evolve this year, but one of the more interesting additions is not the design itself. It is the ability to control how much of that design users see.

 


The company is introducing a transparency slider that allows users to adjust the visual appearance of Liquid Glass across the interface.

 


That may sound like a small setting, but it addresses one of the most common debates around modern user interface design. Highly transparent interfaces often look visually impressive, but can sometimes make text and controls harder to read depending on wallpapers, lighting conditions or personal preferences.

 


Some users prioritise aesthetics, while others prioritise clarity and readability. The new control allows users to decide where they want to sit on that spectrum.

 


Someone who enjoys Apple’s glass-like visual effects can maintain that appearance, while users who prefer clearer separation between interface elements can reduce transparency without abandoning the overall design language.

 


The result is not necessarily a radically different interface, but one that can better adapt to individual preferences and accessibility needs.


Health updates focus on life stages, not just fitness


Apple’s Health app is receiving several additions, but one of the most meaningful may be the expansion of Cycle Tracking.

 


For years, digital reproductive health tools have primarily focused on menstruation, ovulation and fertility planning. While useful, that approach often becomes less relevant as users enter perimenopause and menopause, stages that can bring hot flashes, fatigue, mood changes and other symptoms.

 


Apple said users will be able to log symptoms associated with perimenopause and receive notifications when cycle patterns show deviations that may be linked to this stage of life.

 


The significance goes beyond adding another health metric.

 


Many tracking tools become less useful once cycles become unpredictable because traditional fertility-focused predictions no longer work reliably. Apple’s update appears designed to help users continue monitoring and understanding long-term reproductive health changes rather than treating menopause as the point where tracking ends.

 


For people already using the Health app as a central repository for health information, the feature could reduce the need to rely on separate specialist applications.


Apple Maps is becoming more visual


Apple Maps is receiving updates to Flyover, its 3D city exploration mode.

 


Flyover allows users to view cities, landmarks and locations from aerial perspectives rendered in three dimensions rather than displayed as traditional flat maps.

 


Apple said the feature will now combine aerial imagery with AI-assisted enhancements to create more detailed visual representations.

 


The update is not necessarily about navigation. Instead, it is about helping users better understand what a place looks like before arriving there.

 


Someone planning a trip, visiting a new city or trying to locate a destination may find it easier to recognise landmarks and understand surroundings when locations appear more detailed and visually rich.

 


The change reflects a broader trend across mapping platforms, where maps are increasingly becoming tools for exploration and context rather than simply directions.


Apple Watch is becoming more independent


Apple is making several changes to the Apple Watch.

 


One notable update is a redesigned Find My experience that combines Find Devices, Find Items and Find People into a single destination.

 


Previously, these functions were spread across separate experiences. Bringing them together means users may spend less time figuring out where a particular tracking feature is located.

 


The practical benefit becomes apparent in situations where users are already stressed, such as searching for a misplaced device, locating luggage with an AirTag or checking the location of a family member.

 


Rather than navigating multiple sections, users can access those functions from one place.


AirPods users get more control over sound


Apple is also bringing a long-requested feature to AirPods: a custom equaliser.

 


Until now, AirPods largely relied on Apple’s automatic audio tuning systems, giving users limited control over how their music, podcasts or videos sounded.

 


With the new Custom EQ feature, users will be able to manually adjust different audio frequencies to better match their personal preferences.

 


In practical terms, this means someone who prefers stronger bass, clearer vocals or brighter treble will no longer have to rely entirely on Apple’s default sound profile.

 


While Apple already offers features such as Adaptive Audio and Personalised Spatial Audio, Custom EQ adds a new layer of personalisation by allowing users to directly shape the listening experience.

 


Apple said the feature will arrive as part of its upcoming software updates later this year.


Vision Pro gains more personal experiences


Vision Pro is also receiving updates aimed at making immersive experiences easier to create from content users already own.

 


One notable addition allows panoramic photographs to be transformed into spatial scenes that can be used as personal environments inside Vision Pro.

 


Panoramic images already capture much wider views than traditional photos, but they remain fundamentally flat. Apple’s new approach attempts to turn those panoramic memories into immersive environments that surround the user.

 

A panorama captured during a family holiday, a mountain trek, a beach visit or a memorable event could potentially become an environment that feels more like revisiting a place than simply viewing a photograph. 


iCloud sharing becomes more practical


Apple is expanding iCloud Shared Albums accessibility.

 


According to the company, users will be able to share full-resolution photos while preserving image quality.

 


While photo sharing has existed for years, image compression often means shared versions do not fully match original files. For photographers, content creators and users who simply want family photos to retain maximum quality, preserving original image detail can be important.

 


Apple said Android and Windows users will be able to add to these albums easily with full image resolution. The feature is scheduled for release later this year.


Apple’s child-safety update


One of the most significant non-AI announcements is Apple’s extensive overhaul of child-safety and parental-control features.

 


Rather than focusing on a single feature, Apple is introducing a framework that attempts to give parents more gradual control over how children interact with technology.

 


The company said parents will be able to start children with a limited set of essential applications, a curated starter collection or a custom selection of approved apps.

 


This addresses a common challenge for parents. The choice is often not between allowing everything and blocking everything. It is deciding how much access is appropriate at different ages. Apple’s new system appears designed around that reality.

 


Ask to Browse extends parental approval beyond app downloads and into web access. Parents can require approval before children visit new websites, creating an additional layer of supervision beyond traditional content filtering.

 


Time Allowances introduce category-based controls covering areas such as entertainment, games and social media. This shifts parental controls away from simply limiting overall screen time. Instead of treating every minute on a device as identical, parents can set different expectations depending on the type of activity. Educational apps, communication tools and games can be managed differently.

 


New Schedules add another layer of control by allowing parents to determine which apps are available during specific periods of the day. In practical terms, this could help reduce distractions during school hours, homework sessions, family meals or bedtime.

 


Apple has also redesigned Screen Time to provide a clearer overview of device usage and app activity. The broader goal appears to be giving parents better visibility and more flexible controls rather than forcing them into all-or-nothing restrictions.

 


Apple is also expanding parental controls around communication. Parents will be able to manage who their children can contact through Messages, FaceTime and Phone, and can require approval before kids connect with new contacts.

 


In addition, Apple’s Communication Safety feature, which already blurs nudity detected in Messages and FaceTime for users under 18, will now also intervene when gore or violent content is detected in shared images or videos, adding another layer of protection against potentially harmful content.

 


The company said these features will arrive through software updates with iOS 27, iPadOS 27 and macOS 27 later this year.


Developers get new tools, but users may feel the effects too


Although this year’s developer announcements are heavily centred on AI, Apple also introduced several broader platform changes that could eventually affect users.

 


Xcode 27 is becoming Apple silicon-only, which Apple said will reduce app size, simplify setup and improve performance for developers.

 


The company is also updating SwiftUI, Swift and game-development tools, while introducing new frameworks for spatial computing and Apple Vision Pro experiences.

 


Most users will never interact with these tools directly. However, they influence the quality, performance and capabilities of the apps that eventually arrive on iPhone, iPad, Mac, Apple Watch and Vision Pro.

 


In that sense, many of Apple’s developer-focused announcements are less about today’s software updates and more about shaping the apps users will encounter over the next several years.


Availability


Apple said developer betas for iOS 27, iPadOS 27, macOS 27, watchOS 27, visionOS 27 and Xcode 27 are available now.

 


For consumers, most of the features announced at WWDC 2026 are expected to roll out later this year through the final public releases of Apple’s operating systems.


iOS 27: Eligible devices


  • iPhone 17 Pro and Pro Max, iPhone 17, iPhone 17e, iPhone Air

  • iPhone 16 Pro and Pro Max, iPhone 16 Plus, iPhone 16, iPhone 16e

  • iPhone 15 Pro and Pro Max, iPhone 15 Plus, iPhone 15

  • iPhone 14 Pro and Pro Max, iPhone 14 Plus, iPhone 14

  • iPhone 13 Pro and Pro Max, iPhone 13, iPhone 13 mini

  • iPhone 12 Pro and Pro Max, iPhone 12, iPhone 12 mini

  • iPhone 11 Pro and Pro Max, iPhone 11

  • iPhone SE (2nd generation and later)


iPadOS 27: Eligible devices


  • iPad Pro (M4 and later)

  • iPad Pro 12.9-inch (4th generation and later)

  • iPad Pro 11-inch (2nd generation and later)

  • iPad Air 13-inch (M2 and later)

  • iPad Air 11-inch (M2, M3 and M4)

  • iPad Air 11-inch (4th generation and later)

  • iPad (A16)

  • iPad (9th generation and later)

  • iPad mini (A17 Pro)

  • iPad mini (6th generation and later)


macOS 27: Eligible devices


  • MacBook Neo (2026)

  • MacBook Pro with Apple silicon (2020 and later)

  • MacBook Air with Apple silicon (2020 and later)

  • iMac with Apple silicon (2021 and later)

  • Mac mini with Apple silicon (2020 and later)

  • Mac Studio (2022 and later)

  • Mac Pro with Apple silicon (2023)


watchOS 27: Eligible devices


  • Apple Watch Ultra 3

  • Apple Watch Ultra 2

  • Apple Watch Series 11

  • Apple Watch Series 10

  • Apple Watch Series 9

  • Apple Watch SE 3



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Banks power Nifty above 23,200 as RBI swap measures lift sentiment

JSW Infrastructure gains on winning Kolkata port container terminal project from SMPA


JSW Infrastructure surged 4.42% to Rs 280.20 after it has received a letter of award (LoA) from Syama Prasad Mookerjee Port Authority (SMPA).

The LoA is for the integrated development of the Outer Container Terminal at Netaji Subhas Dock (NSD) in Kolkata under a public-private partnership (PPP) framework.

The project, awarded through a competitive bidding process, involves the development of two berths at the Outer Container Terminal and five berths at NSD on a Design, Build, Finance, Operate and Transfer (DBFOT) basis.

The concession agreement has a tenure of 30 years, with the project to be executed in two phases. Upon completion, the terminal is expected to create a container handling capacity of around 0.93 million twenty-foot equivalent units (TEUs).

 

The award adds to JSW Infrastructure’s existing presence at the Kolkata Dock System. The company had earlier secured a contract for the reconstruction of Berth 8 and mechanisation of Berths 7 and 8 at NSD, which is expected to add capacity of 0.45 million TEUs, with interim operations likely to commence shortly.

With both projects operational, the company’s combined container handling capacity at the Kolkata Dock System is expected to rise to nearly 1.4 million TEUs.

JSW Infrastructure said the projects are expected to address capacity constraints at NSD, improve berth productivity through mechanisation and reduce vessel turnaround times. The development is supported by strong cargo demand from the Kolkata metropolitan region and its hinterland.

The latest award marks the company’s second project win from SMPA within a year and strengthens its position in India’s port privatisation and PPP ecosystem.

Upon completion of its identified container expansion projects, JSW Infrastructure’s overall container handling capacity is expected to increase to about 1.8 million TEUs, supporting its strategy to expand its container business and increase third-party cargo volumes across geographies.

JSW Infrastructure, a part of JSW Group, is the second largest commercial port operator in India in terms of cargo handling capacity. It develops and operates ports and port terminals pursuant to port concessions.

The companys consolidated net profit fell 17.82% to Rs 423.67 crore on 18.63% revenue from operations to Rs 1,522.34 crore in Q4 FY26 over Q4 FY25.

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