(representative image) Tea exports during January–April declined by 18.9 per cent, from 86.08 million kg to 69.81 million kg, according to the Tea Board.
| Photo Credit:
REUTERS/AKILA JAYAWARDENA
The West Asian conflict has exposed the varying levels of dependence that South Indian plantation commodities have on the region’s markets, resulting in sharply contrasting export outcomes.
Tea exports suffered a steep decline due to conflict-affected destinations such as Iraq and the UAE, while cardamom exports defied expectations and posted exceptional growth. Pepper remains significantly exposed to the region, whereas coffee exports have largely escaped direct disruption due to their diversified market base.
The experience underscores the growing importance of export diversification, supply-chain flexibility and global market dynamics in safeguarding India’s plantation sector against geopolitical shocks, said R. Sanjith, secretary general of UPASI.
Tea shipments down 41%
Tea exports during January–April declined by 18.9 per cent, from 86.08 million kg to 69.81 million kg, according to the Tea Board. However, a closer examination reveals that exports to the conflict-affected region fell by as much as 41.0 per cent, significantly higher than the overall decline, Sanjith said.
Among the affected markets, exports to Iraq registered the sharpest contraction (67 per cent), followed by UAE (21 per cent). The comparatively lower decline in total tea exports suggests that the Indian tea industry was able to partially offset losses in its traditional West Asian markets by diversifying into alternative destinations and strengthening exports to other established markets.
Among the plantation commodities, cardamom exports exhibit the highest dependence on conflict-zone markets. However, export during January–March 2026 remained largely unaffected and, in fact, recorded an impressive growth of 216.22 per cent. Exports increased from 1,108 tonnes during January–March 2025 to 3,506 tonnes during the corresponding period in 2026. The bulk of this increase was driven by Saudi Arabia, whose imports of Indian cardamom rose by 201.39 per cent, from 398.8 tonnes to 1,202 tonnes.
Cardamom supply shortage
The resilience of cardamom exports can largely be attributed to supply-side constraints in competing origins, particularly Guatemala, the world’s largest producer and exporter of cardamom. Guatemala reportedly experienced a substantial crop decline of nearly 50 per cent owing to adverse climatic conditions and pest infestations. The resulting shortage in global supplies appears to have more than compensated for the logistical disruptions arising from the West Asian crisis, enabling Indian cardamom exports to expand significantly despite prevailing geopolitical uncertainties.
Pepper also exhibited considerable exposure, with exports to the UAE, Saudi Arabia, and Oman accounting for around 44.46 per cent. Similarly, the UAE, Iraq, Iran, and Saudi Arabia collectively accounted for about 43.91 per cent of India’s tea exports.
Coffee was the notable exception. Exports to the region accounted for only 7.79 per cent of total coffee shipments, as the bulk of Indian coffee exports are destined for European markets and routed primarily through the Suez Canal or, alternatively, the Cape of Good Hope. Consequently, the sector remained relatively insulated from the direct trade disruptions experienced by other plantation commodities.
RBI launched ‘RBI Reelathon 2026,’ a statewide campaign targeting students against cyber fraud.
In a first-of-its-kind initiative Reserve Bank of India (RBI), Thiruvananthapuram, has launched RBI Reelathon 2026, a state-wide mass awareness campaign targeting college students to combat the growing menace of cyber-enabled financial frauds.
Ravada Chandrasekhar, Director General of Police highlighted the alarming rise in cybercrimes and stressed that cyber fraud is no longer merely a technological issue but a serious social challenge affecting people across all sections of society.
The DGP cautioned against emerging cyber threats such as fraudulent investment schemes, digital arrest scams, illegitimate loan applications, fake job offers and mule account networks. Cybercriminals increasingly target young people through social engineering and misuse of digital platforms, he said.
Praveen Kumar Vasantha Ramachandran, Regional Director, RBI Thiruvananthapuram said Kerala has witnessed a sustained rise in cyber-enabled financial frauds, particularly those involving illegitimate loan applications and mule accounts. Highlighting the rationale behind the campaign, he said social media platforms have become the primary medium through which young people consume information and that RBI Reelathon seeks to leverage student creativity to create awareness content capable of reaching audiences far beyond conventional financial literacy campaigns.
RBI Reelathon 2026 is designed as a three-phase state-wide awareness initiative. During the first phase, awareness programmes on smart borrowing and safe digital banking will be conducted across approximately 150 colleges. The second phase will feature a reel-making competition in which students will create short videos on themes such as illegitimate loan applications, mule accounts, digital financial frauds and cyber hygiene. Following multiple rounds of evaluation, shortlisted entries will compete in a Gala Finale scheduled later this year.
Stock market crash and escape. Stocks market index to change direction. Investment growth. Businessman pulls up the red arrow graph.
| Photo Credit:
Yellow Man
ensex Today, Nifty 50 | Stock Market Highlights – Find here all the highlights related to Sensex, Nifty, BSE, NSE, share prices and Indian stock markets for 16th June 2026.
Sensex ended 544.15 pts or 0.71% higher at 76,808.48, and Nifty 50 was up 135.25 pts or 0.57% to 23,989.15.
Eleven of the 16 major sectors traded higher, while the broader small-cap and mid-cap indexes rose 0.4% each.
Elsewhere in Asia, markets gained 0.8%, while Brent crude fell about 2% to $81.6 a barrel, a positive for oil-importing India.
Foreign portfolio investors (FPI), who have sold a record $30.8 billion of Indian equities so far in 2026, turned net buyers on Monday after 13 straight sessions of selling, with inflows worth $21.2 million.
Key Highlights
Sensex ended 544.15 pts or 0.71% higher at 76,808.48, and Nifty 50 was up 135.25 pts or 0.57% to 23,989.15.
Eleven of the 16 major sectors traded higher, while the broader small-cap and mid-cap indexes rose 0.4% each.
Brent crude fell about 2% to $81.6 a barrel
The rupee closed up 0.2% at 94.56 against the dollar, as traders await details of the U.S.–Iran peace agreement and guidance from the U.S. Federal Reserve. (Read more here)
The benchmark 10-year bond was quoted at ₹100.53, with the yield up nearly one basis point at 6.864%.
Asian shares are mostly higher, Japan’s Nikkei tops 70,000 before BOJ rate hike
June 16, 2026 15:53
This live blog is closed for the day.
June 16, 2026 15:44
Rupee extends gains, settles at 94.56 against dollar; markets eye Fed decision, Iran deal details
Rupee extends gains, settles at 94.56 against dollar; markets eye Fed decision, Iran deal details
Rupee gains 0.2% to 94.56 against the dollar; markets await Fed decision and Iran deal details.
June 16, 2026 15:38
Markets at close
Sensex ended 544.15 pts or 0.71% higher at 76,808.48, and Nifty 50 was up 135.25 pts or 0.57% to 23,989.15.
June 16, 2026 15:37
INDIAN RUPEE ENDS UP 0.2% AT 94.56 PER U.S. DOLLAR; PREVIOUS CLOSE 94.71
June 16, 2026 15:35
Broker’s Call: NTPC (Buy)
Broker’s Call: NTPC (Buy)
As per CEA projections, India is expected to add 683 GW capacity by FY36E, of which 600 GW would be non-fossil based capacity
June 16, 2026 15:32
Nifty closes 135.25 points up at 23,989.15
June 16, 2026 15:32
Sensex closes 544.15 points up to 76,808.48
June 16, 2026 15:31
Infosys Collaborates With Valmet To Reimagine IT Operations With AI Accelerated Transformation
June 16, 2026 15:28
Repono bags 20-year energy storage contract in UP from Reliance
Repono bags 20-year energy storage contract in UP from Reliance
The 20-year contract under which Repono will undertake the complete lifecycle of a large-scale, greenfield, rail-fed Petroleum Oil terminal in western Uttar Pradesh
June 16, 2026 15:25
Logistics
GE Shipping contracts to buy a secondhand Long Range 2 Tanker
June 16, 2026 15:05
Companies
Marksans Pharma has completed the process of acquiring 100% share capital of QliniQ B.V. based in the Netherlands.
June 16, 2026 15:04
Companies
NBCC (India), in the ordinary course of business, secured orders amounting to Rs. 20.92 Cr. approx.
June 16, 2026 14:51
NSE
NSE’s index services subsidiary, NSE Indices Limited had launched 11 new sectoral indices namely:
1) Nifty Power
2) Nifty Capital Goods
3) Nifty Telecommunications
4) Nifty Construction
5) Nifty Consumer Services
6) Nifty Commercial & Transport Services
7) Nifty Retail
8) Nifty Hospitals
9) Nifty NBFC
10) Nifty Housing Finance
11) Nifty Insurance
June 16, 2026 14:46
Companies
Marsons has received a Letter of Award worth ₹7.75 crore (approx.) ($8,20,000 only) from US- based Solar Energy Developer for supply of 25 MVA Power Transformer in Hemet, California, USA
June 16, 2026 14:44
Nifty could hit 27,000-28,000 in CY26, says Monarch Networth; bullish on banks, telecom stocks
Nifty could hit 27,000-28,000 in CY26, says Monarch Networth, bullish on banks, telecom stocks
Monarch Networth Capital predicts Nifty could reach 27,000-28,000 by CY26, driven by banking and telecom sector growth.
June 16, 2026 14:24
India’s structural growth story remains strong, driven by resilient demand, infrastructure investment and improving corporate fundamentals: Ventura
• Sees Emerging Opportunities in Defence, Power, Healthcare, Recycling and Financials Amid Improving Market Fundamentals
• Strong earnings momentum, improving FII sentiment, domestic growth drivers and sector-specific opportunities expected to support Indian equities
Ventura today hosted a webinar titled “Current Market Opportunities: Sectors, Stocks, FII Flows, Macro & Geopolitical Insights”, wherein it highlighted that despite global geopolitical uncertainties and periodic market volatility, India’s long-term growth outlook remains constructive, supported by strong macroeconomic fundamentals, healthy corporate balance sheets and sustained domestic participation.
June 16, 2026 14:24
Sensex traded 525.01 pts up or 0.69% to 76,789.34 while Nifty was up 129.70 pts (0.54%) to 23,983.60
June 16, 2026 14:11
Inox Wind inks MoU with Inox Clean to supply 1,500 MW wind turbines
Inox Wind inks MoU with Inox Clean to supply 1,500 MW wind turbines
Inox Wind signs MoU with Inox Clean to supply 1,500 MW of wind turbines for renewable energy projects across India.
June 16, 2026 14:10
AstraZeneca Pharma board approved the appointment of Praveen K Mittal, Director – Corporate Affairs
AstraZeneca Pharma board approved the appointment of Mr. Praveen K Mittal, Director – Corporate Affairs, with effect from July 6, 2026.
June 16, 2026 14:09
Stock in focus: Kilburn Engineering
Kilburn Engineering has secured its first orders from Casale SA, Switzerland, with an aggregate value of approximately ₹7,020 lakhs.
June 16, 2026 13:59
Biocon aims to become world’s top insulin supplier in five years
Biocon aims to become world’s top insulin supplier in five years
Drugmaker Biocon Ltd. is aiming to become the world’s top supplier of insulin in the coming years, its co-founder Kiran Mazumdar-Shaw said, by capturing growing demand for the critical drug while Big Pharma shifts its focus to other medicines.
June 16, 2026 13:58
HEC Infra Projects received Workorder worth Rs.34.82 crore from MIS Stellar Manufacturers Private Limited.
June 16, 2026 13:44
HCLTech shares gain 4% after ₹1,427 cr investment in Sarvam AI
HCLTech shares gain 4% after ₹1,427 cr investment in Sarvam AI
Shares of HCL Technologies rose nearly 4 per cent on Tuesday after the IT services major announced a ₹1,427.25 crore investment in Sarvam AI, marking what analysts described as a strategic bet on the emerging sovereign artificial intelligence (AI) opportunity.
June 16, 2026 13:31
Stock market live: Federal Bank launches ‘FCNR Max Deposit Scheme’ at 6.25% interest for NRI customers
Federal Bank has announced the launch of a special FCNR deposit in US Dollars named ‘FCNR Max Deposit Scheme’, aimed at meeting the rising demand among NRI customers for high-yield, secure investment options. The deposit scheme offers an interest rate of 6.25% for tenures ranging from 3 to 5 years, ensuring stable and competitive returns.
The bank remains committed to offer customer-centric financial solutions, especially for its NRI clientele and that the FCNR Max Deposit Scheme reflects Federal Bank’s focus on delivering both value and reliability in foreign currency investments said Mr. Joy P. V., Country Head – Retail Liabilities.
FCNR Max Deposit Scheme comes with a lock-in period of 1 year from the date of opening. In the event of premature closure after the lock-in period, interest will be payable at a rate 1% lower than the applicable rate for the actual period the deposit was maintained with the bank.
June 16, 2026 13:31
Stock market live: Sensex up 446 points, Nifty rises 111 points in afternoon trade
At 1.26 pm, Sensex climbed 446.45 pts or 0.59% to 76,710.78, and Nifty 50 gained 110.85 pts or 0.46% to 23,964.75.
June 16, 2026 13:26
Commodities update: Led by US, exits from gold ETFs continue for the 5th week in a row
Led by US, exits from gold ETFs continue for the 5th week in a row
Investors chose to encash $4 for every dollar invested in physically-backed gold exchange-traded funds (ETFs) last week, as investments continued to witness net negative inflows for the fifth week in a row, data from the World Gold Council (WGC) showed.
June 16, 2026 13:24
Sectoral updates: India’s REITs and InvITs market may attract Rs 11.6 lakh crore by 2030: Avendus
India’s REITs and InvITs may attract Rs 11.6 lakh crore investment by 2030: Avendus report
India’s REITs and InvITs may draw Rs 11.6 lakh crore by 2030, with AUM seen crossing Rs 20 lakh crore, driven by infra growth and reforms.
June 16, 2026 13:15
Stock market live: Mahindra Holidays acquires Aditatva Estates for Rs 37.5 crore; shares flat at Rs 231.28
Mahindra Holidays & Resorts India completed the acquisition of 100% equity stake in Aditatva Estates Private Limited (“Aditatva”) for an aggregate consideration of Rs. 37.5 Crore.
Shares traded flat at Rs 231.28 on the NSE.
June 16, 2026 13:15
Stock market live: Cipla appoints Shivam Puri as CEO – One India Business, effective July 1, 2026
Cipla board informed the appointment of Shivam Puri, Managing Director and Chief Executive Officer of Cipla Health Limited, wholly owned subsidiary, as the Chief Executive Officer – One India Business and a member of the Management Council, with effect from 1st July, 2026.
June 16, 2026 13:10
Stock market live: Bondada Engineering jumps 3% on NTPC solar and battery storage project win in Uttar Pradesh
Bondada Engineering has received a Notification of Award (NOA) from NTPC Renewable Energy Limited for the EPC Package for Development of 250 MW Solar PV Project with 50 MW/200 MWh Battery Energy Storage System (BESS) Project at Sitapur, Uttar Pradesh.
Bondada stock surged 3% to Rs 339.60 on the BSE
June 16, 2026 13:10
Stock market live: Karnataka cements top export position with ₹19.7 lakh crore shipments in FY26
Karnataka exports grow 9.5 per cent to ₹19.7 lakh crore in FY26, says DK Shivakumar
Karnataka exports rise 9.5% to ₹19.7 lakh crore in FY26, says DK Shivakumar, highlighting strong tech, manufacturing growth and investment push.
June 16, 2026 13:02
Midday updates: Sensex, Nifty hold gains off day’s high, metal stocks slump over 2%, Hindalco, NALCO, Vedanta Aluminium top losers
Sensex, Nifty hold gains off day’s high, metal stocks slump over 2%, Hindalco, NALCO, Vedanta Aluminium top losers
Equity benchmarks pared early gains but continued to trade in positive territory during the afternoon session on Tuesday, as profit booking in select heavyweights capped the rally triggered by easing crude oil prices and supportive global cues.
June 16, 2026 12:55
IPO updates: Sify Infinit puts ₹3,700 crore IPO on hold
Sify Infinit puts ₹3,700 crore IPO on hold
Sify Infinit Spaces, the first pure-play Indian data centre operator to pursue a public listing, was seeking a valuation of as much as $4.2 billion in the proposed offering.
June 16, 2026 12:55
IPO Updates: Its ‘deferred, not abandoned’, awaiting right window: SIS on IPO plan for cash logistics biz
Its ‘deferred, not abandoned’, awaiting right window: SIS on IPO plan for cash logistics biz
In the latest annual report, the company said “the intent (for IPO) is unchanged”, adding that it has already filed the draft red herring prospectus (DRHP) for SIS Cash Services
June 16, 2026 12:50
Stock market live: HDFC Life allots shares worth ₹1,000 crore to HDFC Bank on preferential basis
HDFC Life Insurance Company approved the allotment of 1,45,23,906 fully paid-up equity shares of face value of ₹ 10/- each, at a price of ₹ 688.52 per equity share aggregating to approx. ₹ 1,000 crore, on a preferential basis to HDFC Bank Limited, the promoter of the Company.
June 16, 2026 12:49
Stock market live: AU Small Finance Bank and Motilal Oswal enhance 3-in-1 account with new fund-blocking feature for seamless trading
AU Small Finance Bank (AU SFB), India’s largest Small Finance Bank and the first institution in over a decade to receive in‑principle approval from the Reserve Bank of India (RBI) to transition into a Universal Bank, and Motilal Oswal Financial Services (MOFSL), one of India’s leading diversified financial services groups, today jointly announced a significant enhancement to their 3‑in‑1 Account proposition. The upgrade introduces a new fund‑blocking feature designed to make trading more seamless, efficient, and financially rewarding for investors.
A 3‑in‑1 account is an integrated banking solution that combines a savings account, a trading account, and a demat account into a single, seamless platform, allowing customers to manage their money, invest in shares, and hold securities without the need to move funds between different accounts.
June 16, 2026 12:26
Commodities update: Aluminium futures fall on low demand
Aluminium prices dropped marginally by Rs 4.25 to Rs 352.55 per kg in the futures trade on Tuesday as participants trimmed their positions amid a weak trend in spot markets.
On the Multi Commodity Exchange, aluminium for delivery in June fell by Rs 4.25 or 1.19 per cent to Rs 352.55 per kg in 993 lots.
June 16, 2026 12:25
Commodities update: Zinc futures ease on weak demand
Zinc prices on Tuesday fell Rs 2.30 to Rs 367.60 per kg in futures trade as speculators reduced their exposure, tracking negative cues in the spot market.
On the Multi Commodity Exchange, zinc contracts for June delivery slipped by Rs 2.30, or 0.62 per cent, to Rs 367.60 per kilogram in a business turnover of 285 lots. – PTI
June 16, 2026 12:25
Commodities update: Silver futures decline to Rs 2.47 lakh/kg
Silver prices on Tuesday fell by Rs 4,058 to Rs 2,47,400 per kilogram as participants reduced their bets.
On the Multi Commodity Exchange, silver contracts for July delivery declined by Rs 4,058, or 1.61 per cent, to Rs 2,47,400 per kg in a business turnover of 1,790 lots.
Analysts said a sell-off by participants mainly weighed on silver prices. – PTI
June 16, 2026 12:24
Stock market live: Welspun USA starts commercial pillow production in Nevada; shares flat at Rs 145.55
Welspun Living: Welspun USA Inc. has fully commenced commercial production at the pillow manufacturing unit in Nevada, USA, with effect from June 15, 2026 (date as per USA Pacific Time zone).
Shares flat at Rs 145.55 on the NSE.
June 16, 2026 12:23
Commodities update: Gold futures drop to Rs 1,52,558/10g
Gold prices on Tuesday dropped by Rs 358 to Rs 1,52,558 per 10 grams in futures trade amid a fall in spot demand.
On the Multi Commodity Exchange, gold contracts for August delivery traded lower by Rs 358, or 0.23 per cent, at Rs 1,52,558 per 10 grams in a business turnover of 8,822 lots.
Analysts attributed the fall in yellow metal prices to weak global cues. – PTI
June 16, 2026 12:16
Stock market live: Tembo Global Industries approves stock split in 1:10 ratio
Tembo Global Industries Limited has informed the Exchange that the Board of Directors at its meeting held on Jun 16, 2026, has considered and approved subdivision of 1 equity shares of Rs. 10 each into 10 equity shares of Re. 1 each.
Adani Ports and Special Economic Zone Ltd. (APSEZ) has expanded its strategic partnership with Kaleris to enhance next-generation digital and automation capabilities across its ports and logistics network. Under the multi-year agreement, Kaleris will deploy terminal operating systems and AI-enabled optimisation solutions across 15 container terminals in nine ports, building on earlier phase rollouts. The initiative supports APSEZ’s 2030 goals, including USD 850 million in investments towards decarbonisation, technology upgrades, and a one-billion-tonne cargo handling ambition.
The stock is trading at Rs 1,810.20, up 5.40 (0.30%).
June 16, 2026 12:09
Share market live: Inox Wind signs 1,500 MW turbine supply MoU with Inox Clean Energy
Inox Wind Limited (IWL) has signed a memorandum of understanding (MoU) with Inox Clean Energy to supply 1,500 MW of wind turbines for renewable energy projects across India. The agreement covers deployment of IWL’s advanced 3.3 MW and 4X MW turbine platforms and aligns with the INOXGFL Group’s integrated renewable energy strategy to strengthen collaboration across its value chain and support long-term growth visibility.
The stock is trading at Rs 90.54, up 0.67 (0.75%).
June 16, 2026 12:06
Stock market live: Turtlemint Fintech to launch ₹883-crore IPO on Jun 19
Turtlemint Fintech to launch ₹883-crore IPO on Jun 19; sets price band at ₹144-152/share
Insurtech firm Turtlemint Fintech Solutions will launch its initial public offering (IPO) worth up to ₹883 crore on June 19 seeking to raise fresh capital and provide an exit route to existing shareholders.
June 16, 2026 12:02
Stock market live: Amir Chand Jagdish Kumar signs distribution deal with Al Tasnim Group for Aeroplane Rice in Oman
Amir Chand Jagdish Kumar (Exports) informed that Al Tasnim Group, one of the leading food distribution companies in the Sultanate of Oman, will distribute Aeroplane Rice products in the Sultanate of Oman.
June 16, 2026 11:52
Share market live: US Supreme Court rejects TCS appeal in the $168 million trade secret case
US Supreme Court rejects TCS appeal in the $168 million trade secret case
The company to set aside $70 million more after US Supreme Court declines review in CSC-DXC legal dispute
June 16, 2026 11:44
Stock market live: RateGain partners with Duetto for real-time hotel revenue optimization; shares rise 2.6% to Rs 846
RateGain and Duetto Partner to Power Autonomous, Real-Time Revenue Optimization for Hotels Worldwide
Rategain shares up 2.6% to Rs 846 on the NSE.
June 16, 2026 11:36
Stock market live updates: Motilal Oswal sees natural gas recovery accelerating on tighter inventories and higher LNG shipments
Motilal Oswal Financial Services Ltd Sees Natural Gas Recovery Gathering Pace Amid Tightening Inventories and Higher LNG Shipments
June 16, 2026 11:35
Stock market live: Highway Infra flat at Rs 48.59 after contract cancellation for Bhopal housing project
Highway Infra received a communication from the Office of the HFA Cell, Nagar Palika Nigam, Bhopal, regarding cancellation of the contract for Construction of Houses and Development of Infrastructure for Affordable Housing in Bhopal under PMAY at Plot Nos. 47 and 49, Commercial-cum-Residential Building Plan, Bhopal, Madhya Pradesh.
Shares flat at Rs 48.59 on the NSE
June 16, 2026 11:32
Share market live: HDFC Bank to hit dollar bond market under new subsidised scheme
HDFC Bank to hit dollar bond market under new subsidised scheme
Bank may raise over $500 million through a five-year dollar bond amid strong investor demand.
June 16, 2026 11:24
Share market live: : Marine Electricals secures orders worth Rs 76.38 crore from STT Global Data Centres and Deepak Chem Tech
Marine Electricals (India) Limited has received orders worth approximately Rs 76.38 crore, excluding taxes, from STT Global Data Centres India Private Limited and Deepak Chem Tech Limited. The orders involve the supply, installation, testing and commissioning of power distribution systems. The company said the deliveries are scheduled over a period of 12-18 months. Marine Electricals clarified that the orders do not involve related party transactions.
The company’s share is trading over 4% higher at Rs 256.60.
June 16, 2026 11:22
Share market live: Grasim Industries inaugurates CPVC resin plant in Gujarat with Lubrizol collaboration
Grasim Industries Limited has inaugurated the first phase of its CPVC (Chlorinated Polyvinyl Chloride) resin manufacturing plant at Vilayat, Gujarat, developed in collaboration with Lubrizol Manufacturing India Private Limited.
The facility, planned with a capacity of around 50,000 metric tonnes per annum in Phase 1, forms part of the companies’ initiative to establish the world’s largest single-site state-of-the-art CPVC resin facility with a total planned capacity of 100,000 metric tonnes.
The share price is trading weak, currently at Rs 3,156.30.
June 16, 2026 11:11
Markets now: Stock market live: Sensex jumps 456 points, Nifty up 119 points in morning trade
Sensex traded 455.60 pts or 0.60% higher at 76,719.93 at 10.58 am, and Nifty 50 increased by 118.85 pts or 0.50% to 23,972.75
June 16, 2026 11:00
Markets trade in green
Sensex traded 455.60 pts or 0.60% higher at 76,719.93 at 10.58 am, and Nifty 50 increased by 118.85 pts or 0.50% to 23,972.75
June 16, 2026 10:54
Marine Electricals bags orders worth ₹76.38 crore
Marine Electricals (India) has received orders amounting to total of Rs 76.38 crore
Shares gained nearly 3% to Rs 253.05 on the NSE.
June 16, 2026 10:51
Adani Enterprises and Jabil target alliance to build AI Data Center Infrastructure Platform in India
Adani Enterprises rose 1.5% to Rs 2989.10 on the NSE.
June 16, 2026 10:49
Aluminium futures: Outlook turns weak
Aluminium futures: Outlook turns weak
Aluminium futures are expected to decline to ₹330, with short-term fluctuations anticipated before resuming the downtrend.
June 16, 2026 10:48
Devyani International shares up 3% on receiving NoCs from exchanges for the proposed merger
Devyani International shares traded 3% higher at Rs 114.80, hitting a high of Rs 121.38; and Sapphire Foods increased over 4% to Rs 180.91, hitting a high of Rs 185.58 on receiving no-objection letters from stock exchanges for the proposed merger.
June 16, 2026 10:47
GIC Re shares tumble 6% as govt launches OFS to divest up to 5% stake
GIC Re shares tumble 6% as govt launches OFS to divest up to 5% stake
Shares of General Insurance Corporation of India (GIC Re) fell over 6 per cent in early trade on Tuesday after the government’s offer for sale (OFS) to divest up to a 5 per cent stake in the state-owned reinsurer opened for investors.
June 16, 2026 10:44
OpenAI spending hit $34 billion last year ahead of planned IPO, FT reports
OpenAI spending hit $34 billion last year ahead of planned IPO, FT reports
OpenAI’s $34 billion spending in 2025 focuses on R&D and marketing ahead of its anticipated IPO, reports FT.
June 16, 2026 10:41
Kamdhenu Paints begins manufacturing of indigenous Wood Coatings
Kamdhenu Paints commences indigenous manufacturing of Wood Coatings under the Brand Name of KAMOLAC to ramp up product portfolio
June 16, 2026 10:40
Stock in Focus: HCL Tech
HCL Tech shares surged 3.5% to Rs 1,160.40 on the NSE. Company invested Rs. 1,427.3 cr in Axonwise Private Limited (Sarvam AI)
June 16, 2026 10:31
Nifty Prediction Today – June 16, 2026: Nifty futures: No follow-through rally, yet the support holds
Nifty Prediction Today – June 16, 2026: Nifty futures: No follow-through rally, yet the support holds
Nifty futures (June) will retain bullish outlook until the support at 23,800 holds
June 16, 2026 10:27
Stock market live: Madras Fertilizers flat at Rs 69.38 as ammonia and urea production halted for maintenance
Madras Fertilizers stock flat on the NSE at Rs 69.38. Production of ammonia & urea halted and is expected to resume around June 23, 2026 after repairs and maintenance
June 16, 2026 10:27
Debt market updates: 10-year benchmark G-Sec yield drops to 7% in May amid favourable regulatory shifts
10-year benchmark G-Sec yield drops to 7% in May amid favourable regulatory shifts
The 10-year G-Sec yield fell to 7% in May, influenced by regulatory changes and macroeconomic factors affecting the debt market.
June 16, 2026 10:22
Stock market live: GIC Re shares fall 6% as government to sell up to 5% stake via OFS at discount
General Insurance Corporation of India (GIC Re): Government of India plans OFS of up to 2% stake (3.51 cr shares) with option to sell additional 3% (total up to 5%) on June 16-17, 2026 to meet minimum public shareholding norms. Floor price fixed at 352/share (~9% discount to CMP)
Shares fell 6% to Rs 365.35 on the NSE.
June 16, 2026 10:21
Stock market live: JTEKT India gets Rs 26 lakh tax demand notices for FY16-18; shares at Rs 133.83
JTEKT India: Received 3 Notices of assessment and demand under Section 9 of the Haryana Tax on Entry of Goods into Local Areas Act 2008, from Excise and Taxation officer-cum Assessing Authority Gurugram (Haryana).
Tax for the financial years 2015-16 to 2017-18 aggregating to Rs. 26 lakh.
Shares traded at Rs 133.83 on the NSE
June 16, 2026 10:10
Stock market live: Godavari Biorefineries surges 6% as Japanese patent granted for novel cancer treatment compound
Godavari Biorefineries informed that the Japanese Patent Office granted patent, “5-HYDROXY1,4-NAPHTHALENEDIONE FOR USE IN THE TREATMENT OF CANCER” .
This patent covers a novel class of compounds that exhibit strong inhibitory effects on cancer and cancer stem cells, demonstrating significant efficacy against multiple types, including breast and prostate cancer.
Godavari Biorefineries zoomed over 6% to Rs 302.30 on the BSE.
June 16, 2026 10:06
Dalal Street extends rally on softer crude: Sensex up 400 points, Nifty above 23,950; metal stocks lag
Dalal Street extends rally on softer crude: Sensex up 400 points, Nifty above 23,950, metal stocks lag
Dalal Street rallies as Sensex climbs 400 points, supported by falling crude prices and positive global cues, despite metal stocks lagging.
June 16, 2026 09:56
Stock market live: Suven Life Sciences advances SUVN-I6107 to Phase-2 after positive Phase-1 results; shares trade at Rs 263.25
Suven Life Sciences announces completion and topline results of First-in-Human (FIH) Phase-1 clinical study of SUVN-I6107, a Muscarinic M1 Positive Allosteric Modulator (M1-PAM) and its advancement into Phase-2 clinical development
Shares traded at Rs 263.25 on the NSE
June 16, 2026 09:54
Brent crude slips as markets await clarity on US-Iran peace deal
Brent crude slips as markets await clarity on US-Iran peace deal
Brent crude oil prices dip as markets await details on the US-Iran peace deal, with mixed trading results.
June 16, 2026 09:50
Share market live: Manba Finance enters South India through partnership with Sreesastha
Manba Finance Limited, a vehicle-financing NBFC, has announced its entry into the South Indian market through a strategic partnership with Sreesastha (Nammaloan).
The collaboration marks a key step in Manba Finance’s national expansion strategy, with plans for a phased presence across all South Indian states. The company will begin operations in Karnataka, followed by Tamil Nadu within the current financial year.
The partnership has identified more than 100 potential locations across South India, which will be activated gradually based on market readiness and operational priorities.
The company’s shares are trading lower at Rs 122.06 on the NSE.
June 16, 2026 09:48
Top losers of Nifty Metal Index: Vedanta Aluminium, Vedanta Oil & Gas, National Aluminium and Hindalco.
June 16, 2026 09:45
Currency market updates: Rupee rises 5 paise to 94.53 against US dollar in early trade
Rupee rises 5 paise to 94.53 against US dollar in early trade
Rupee rises 5 paise to 94.53 against the US dollar amid falling oil prices and easing Middle East tensions.
June 16, 2026 09:43
Global news: US factory production flat in May as AI investment supports manufacturing
US manufacturing output unchanged in May amid tariffs, AI spending surge
US factory production stayed flat in May as AI spending supported output, offsetting tariffs and energy shocks, while supply delays worsened in surveys.
June 16, 2026 09:37
Commodities market live: Brent crude edges lower, WTI and MCX crude trade higher in early session
Brent crude oil futures traded marginally lower on Tuesday morning as markets awaited clarity on the US-Iran peace deal.
At 9.35 am on Tuesday, August Brent oil futures were at $83.03, down by 0.17 per cent, and July crude oil futures on WTI (West Texas Intermediate) were at $80.82, UP by 0.09 per cent. June crude oil futures were trading at ₹7637 on Multi Commodity Exchange (MCX) during the initial hour of trading on Tuesday against the previous close of ₹7618, up by 0.25 per cent, and July futures were trading at ₹7547 against the previous close of ₹7522, up by 0.33 per cent.
June 16, 2026 09:35
Share market live: Affle acquires select AdColony assets from Digital Turbine to expand AI platform reach
Affle MEA FZ LLC has entered into a definitive asset purchase agreement with Digital Turbine (NASDAQ: APPS) to acquire select strategic AdColony assets, including its Android and iOS SDK, technology platform, publisher integrations, brand name and related goodwill.
The acquisition is aimed at strengthening Affle’s AI-powered Consumer Platform by expanding its SDK reach and mobile publisher connections globally.
Affle said the move supports its 10X growth strategy by enhancing its technology stack, data capabilities and intellectual property portfolio to drive premium consumer conversions through its CPCU (Cost Per Converted User) model.
NPCIL achieves major milestone at Kudankulam Unit-5 nuclear project
NPCIL installs the reactor pressure vessel at Kudankulam Unit-5, marking a key milestone in India’s nuclear power expansion and clean energy mission.
June 16, 2026 09:32
Share market live: Suven Life Sciences completes Phase-1 trial of CNS drug candidate SUVN-I6107
Suven Life Sciences has announced the successful completion of its Phase-1 first-in-human clinical study of SUVN-I6107, a novel muscarinic M1 positive allosteric modulator (M1-PAM) developed for Central Nervous System (CNS) disorders.
The company said the study demonstrated favourable safety, tolerability, pharmacokinetic and pharmacodynamic profiles, supporting the advancement of SUVN-I6107 into Phase-2 clinical development.
SUVN-I6107 is part of Suven’s pipeline of innovative therapies aimed at addressing unmet needs in CNS-related conditions.
OPENING BELL: Stock market live: Sensex rises 254 points, Nifty up 70 points in early trade
Sensex gained 253.56 pts or 0.33% to trade at 76,517.89 at 9.16 am after opening at 76,526.77 from the previous close of 76,264.33.
Nifty 50 was up by 70.15 pts or 0.29% to 23,924.05.
June 16, 2026 09:17
Stock market live: Bharti Airtel sets up new subsidiary Airtel Global IFSC in GIFT City
Bharti Airtel incorporated a wholly-owned subsidiary in the name and style of “Airtel Global IFSC Limited” in Gujarat International Finance Tec-City (GIFT City), Gujarat, India,
June 16, 2026 09:17
Stock market live: TCS to make $70 million additional provision after US Supreme Court denies DXC Tech petition
TCS on DXC Tech litigation: United States Supreme Court has denied petition for a writ of certiorari to review the judgment of the United States Court of Appeals for the Fifth Circuit on June 15, 2026. The Company has already provided USD150 million in relation to this matter in the books of accounts in accordance with applicable accounting standards and will make necessary provision now for the incremental amount of USD70 million towards damages, interest and legal cost, as a one-time exceptional expense, in Q1 FY2027.
June 16, 2026 09:17
Stock market live: Nifty500 Multicap 50:25:25 outperforms major indices with lower drawdowns
While investor attention remains focused on the Nifty 50 and Nifty 500, the Nifty500 Multicap 50:25:25 TRI has quietly emerged as a standout performer, delivering superior returns with lower drawdowns. This analysis highlights how this underappreciated benchmark has outperformed major indices during recent market volatility and shows how the category has attracted steady inflows through funds such as the Bajaj Finserv Multicap Fund, despite being overshadowed by trendier equity categories.
June 16, 2026 09:16
Stock market live: Oil India signs MoU with CSIR for collaborative research and technology development
Oil India Limited Signs MoU with CSIR for Collaborative Research and Technology Development
June 16, 2026 09:16
Stock market live: Arvind SmartSpaces launches new Rs 180 crore project in South Ahmedabad
Arvind SmartSpaces adds new horizontal development project in Metal, South Ahmedabad with a top-line potential of ~Rs. 180 crore.
June 16, 2026 09:15
Stock market live: Mini Diamonds secures Rs 16.25 crore order for natural diamonds
Mini Diamonds (India) has secured a significant domestic order of Rs 16.25 Crore from a Mumbai based client for supply of cut and polished natural diamonds.
June 16, 2026 09:15
Stock market live: Affle to acquire AdColony assets from Digital Turbine
Affle announced that Affle MEA FZ LLC has entered into a definitive asset purchase agreement with DT (NASDAQ: APPS), formerly Digital Turbine, to acquire select strategic AdColony assets including the AdColony SDK for Android and iOS devices, tech platform, existing integration with in-app publishers and mediation platforms, the brand name, domain and the goodwill exclusively related to the assets.
June 16, 2026 09:13
Commodities update: SGX mulls new coking coal and steel contracts
Singapore Exchange plans to launch new coking coal and steel futures contracts, Tan Tee Yong, its head of commodity derivatives, said on Monday, as the exchange looks to broaden its product offerings, reflecting trade flow changes. – Reuters
June 16, 2026 09:09
Commodities market live: US oil reserve hits 43-year low as emergency releases continue during Iran conflict
US Strategic Petroleum Reserve falls to lowest level since 1983 amid Iran war
US Strategic Petroleum Reserve hits its lowest level since 1983 as emergency oil releases continue amid the Iran conflict and energy supply concerns.
June 16, 2026 09:08
Debt market live: India bonds seen rangebound as focus shifts to US-Iran deal details
India bonds seen rangebound as focus shifts to US-Iran deal details
India’s bond yields are expected to remain stable as markets await details on the US-Iran peace deal and state debt supply.
Rajeev Sharan, Head of Research, Brickwork Ratings
“Talks around a possible US-Iran deal have eased some of the tension in global markets, primarily by lowering the risk premium in crude oil. Brent and WTI have already fallen sharply on hopes of a durable agreement, while global equities have gained on expectations of lower energy costs and improved risk appetite. The rupee has also strengthened modestly, helped by foreign inflows into government bonds after the RBI’s recent measures improved liquidity and investor sentiment. Indian equities have responded positively as softer oil eases pressure on inflation and the external balance, though investors are still cautious about global developments. If diplomatic progress continues, India could benefit from a steadier currency, lower energy import costs, and stronger bond flows, even as the situation remains vulnerable to renewed geopolitical tensions.”
June 16, 2026 08:59
Corporate actions: General Insurance Corporation of India Ltd (GICRE)- Offer for Sale
Issue Period:- 16- June-26 to 17- June-26
For Non- Retail ( QIB +HNI ) open & close date – 16- June -26 (Today)
For Retail open & close date – 17- June -26
Floor Price: Rs. “352.00”
Closing Price on date of announcement: Rs 387.25\u0009
Current Market Price: Rs 385.25
Base Issue size: 3.51 Crs Shares – 2.00% of O/S Capital
Green Shoe Issue size: 5.26 Crs Shares – 3.00% of O/S Capital
Total Issue Size: 8.77 Crs equity shares (Rs. 3,087.74 Cr) – 5.00% of O/s Capital
Non-Retail Portion (QIB + HNI) – 90% of Offer Size – Bidding on 16- June -26 (Today)
Total Issue Size: 7.89 Crs shares (Rs. 2,778.97 Cr)
Retail Portion – 10% of Offer Size – Bidding on 17- June -26
Total Issue Size: 0.88 Crs equity shares (Rs. 308.77 Cr)
Note : Upto Rs 2 lacs bids are classified as Retail and above non retail ( QIB + HNI )
June 16, 2026 08:59
Share market live: Cyient Ltd : Buyback of shares_Record date tomorrow
Buyback Price : Rs 1,125.00/-
CMP : Rs 900.00/-
Buyback Size (in Rs) : 720.00 Crore
Buyback Size (in Shares) : 64,00,000 equity shares(representing 5.76% of total paid up Equity Share Capital)
Tender Route
Retail Quota: 9,60,000 equity shares
Last cum date: Tuesday, 16 June 2026 (Today)
Record date: Wednesday, 17 June 2026
June 16, 2026 08:58
Share market live: These 12 Stocks Closed at Fresh All-Time Highs on June 15
💥Paras Defence
💥Apar Industries
💥SJS Enterprises
💥Sudeep Pharma
💥Venus Remedies
💥Belrise Industries
💥Aeroflex Industries
💥Kernex Microsystems
💥Garware Hi-tech Films
💥Adity Birla Sun Life AMC
💥Syrma SGS Technologies
💥Diamond Power Infrastructure
June 16, 2026 08:55
Stock Market Live: J.P. Morgan raises L&T target as West Asia deal lifts outlook
Stock Market Live: Equity markets surge as crude prices fall and rupee strengthens
Ankur Punj, MD & Business Head at Equirus Wealth
Equity markets worldover, including India, received a major boost amid talks of a likely end to the US and Iran conflict which culminated in a further drop in international crude oil prices. Local investors cheered the sharp fall in crude prices and the rupee’s recovery against the dollar resulting in renewed optimism in equity assets. Investors are hoping that FIIs will soon return to India’s equity markets amid positive signals of a likely end to the war and receding oil prices.
June 16, 2026 08:49
Share market live: TCS to make additional $70 million provision in DXC Technology case
Tata Consultancy Services (TCS) has informed the stock exchanges that the United States Supreme Court has denied its petition seeking review of a judgment related to a suit filed by Computer Sciences Corporation/DXC Technology Company.
The company said it will make an additional provision of $70 million towards damages, interest and legal costs as a one-time exceptional expense in the first quarter of FY2027.
TCS had earlier provided $150 million in its books of accounts for the matter in accordance with applicable accounting standards. The disclosure follows the Supreme Court’s decision on June 15, 2026, regarding the judgment of the US Court of Appeals for the Fifth Circuit.
June 16, 2026 08:41
India hikes windfall tax on diesel and ATF exports, petrol levy unchanged
India hikes windfall tax on diesel and ATF exports, petrol levy unchanged
India raises windfall tax on diesel and ATF exports from June 16, while petrol levy stays unchanged, aiming to ensure fuel availability amid global tensions.
June 16, 2026 08:40
WATCH: Today’s stock recommendation
June 16, 2026 08:38
Stock market live: India and Slovakia strengthen defence, cybersecurity and connectivity cooperation
India and Slovakia strengthen defence and cybersecurity cooperation
India and Slovakia expand strategic ties with defence, cybersecurity and connectivity cooperation, including a pact for joint defence development.
June 16, 2026 08:31
Share market live today: India, Slovakia deepen ties with agreements on jobs, education and technology
India and Slovakia sign MoUs on education, research and talent mobility
India and Slovakia sign MoUs on labour mobility, higher education, research and culture to strengthen professional exchanges and bilateral cooperation.
June 16, 2026 08:26
Share market updates: Ashok Leyland signs MoU for old truck and bus replacement scheme in Delhi-NCR, offers 8% discount
Ashok Leyland signs MoU for Delhi-NCR truck and bus replacement scheme, to offer 8% discount
Ashok Leyland and Switch Mobility offer 8% discount under Delhi-NCR truck replacement scheme with govt incentives to boost clean mobility adoption.
June 16, 2026 08:24
Share market live: Oil India signs MoU with CSIR to boost energy research and innovation
Oil India Limited (OIL) has signed a Memorandum of Understanding (MoU) with the Council of Scientific and Industrial Research (CSIR) to strengthen collaboration in research, innovation and technology development in the energy sector.
The partnership aims to develop advanced solutions across upstream and downstream oil and gas operations, hydrocarbon reservoir optimisation, enhanced oil recovery (EOR), renewable energy, sustainable energy practices and critical minerals.
June 16, 2026 08:23
Corporate News: Arvind SmartSpaces adds ₹180 crore residential project in South Ahmedabad
Arvind SmartSpaces Limited (ASL) has announced a new residential horizontal development project on Kerala-Nalsarovar Road in South Ahmedabad. The Joint Development project is spread across 58.25 acres with a saleable area of 2.5 million sq. ft. and an estimated top-line potential of around ₹180 crore.
The company said South Ahmedabad has emerged as a promising micro-market for plotted developments and weekend homes, supported by rising demand and improving infrastructure connectivity.
June 16, 2026 08:08
US Supreme Court rejects TCS appeal in $168 million trade secrets case
US Supreme Court rejects Tata Consultancy Services appeal in $168 million trade secrets case
US Supreme Court declines TCS appeal in $168 million DXC trade secrets case over life-insurance software dispute, upholding lower court ruling.
June 16, 2026 08:08
Technical pointers for today’s trade
* Trend: Nifty 50 continues to trade with a positive bias after opening higher at 23,924. The index is holding above the previous close of 23,854, indicating sustained buying interest.
* Key support levels: 23,880–23,800 remains the crucial support zone. As long as Nifty holds above 23,800, the broader recovery trend is likely to remain intact.
* Immediate resistance: 24,000 is the immediate hurdle for Nifty futures. A decisive breakout above this level could open the way towards 24,150, followed by 24,500.
* Market breadth:The advance/decline ratio at 29:21 reflects a positive undertone, with most sectors trading in the green.
* Sectoral trend: IT and media stocks are leading the gains, while metal stocks remain under pressure. Sustained participation across sectors could support the index.
* Trading view: Dips towards 23,900–23,880 may attract buyers, while a move below 23,800 could weaken momentum and trigger further downside.
* Nifty futures setup: Positive bias remains intact above 23,800. Traders may watch for a breakout above 24,000 for the next leg of momentum.
June 16, 2026 07:57
Commodities insight: Iran war: Just an energy shock or a turning point for global markets?
Iran war: Just an energy shock or a turning point for global markets?
The Iran conflict disrupted oil and LNG supplies, but it may also accelerate EV adoption, renewable energy growth and changes in global fuel demand.
June 16, 2026 07:43
Commodities update: India’s silver imports plunge 87% in May after curbs on shipments
India’s silver imports plunge 87% in May after government curbs
India’s silver imports fell 87% in May to a 3-year low after curbs and duty hikes, hitting volumes and potentially impacting global silver prices.
June 16, 2026 07:31
Global market updates: South Korean shares extend gains on US-Iran deal
South Korean shares extended gains on Tuesday, tracking an overnight rally on Wall Street on the U.S.-Iran peace deal.
The benchmark KOSPI was up 64.66 points, or 0.76%, at 8,610.64, as of 0120 GMT, after rising more than 2% earlier in the session. On Monday, it climbed 5.2%. – Reuters
June 16, 2026 07:31
AI memory boom pushes up costs for India’s electric vehicle industry
AI memory price surge raises costs for India’s electric vehicle industry
AI-driven memory demand is pushing up RAM and semiconductor costs, creating fresh supply chain challenges for India’s electric vehicle manufacturers.
June 16, 2026 07:29
Sectoral updates: AI memory boom pushes up costs for India’s electric vehicle industry
June 16, 2026 07:25
Stock market live: Armenia to procure oncology drugs from India under national healthcare scheme
Armenia healthcare scheme opens oncology drug export opportunities for Indian pharma companies
Armenia’s universal healthcare scheme opens new export opportunities for Indian pharma firms, especially oncology drug makers, with government support.
June 16, 2026 07:24
Share market updates: Siemens secures order from Titagarh Rail Systems for Pune Metro extension project
Siemens secures supply order from Titagarh Rail Systems for Pune Metro extension project
Siemens wins order from Titagarh Rail Systems to supply propulsion and TCMS systems for 12 trainsets in Pune Metro extension project, boosting indigenisation.
June 16, 2026 07:24
Share market updates: IndiGo tweaks business class offering to lure flyers
IndiGo tweaks business class offering to lure flyers
IndiGo enhances its business class, ‘Indigo Stretch,’ with priority baggage and improved meals to attract more travelers.
June 16, 2026 07:17
Global updates: Bank of Japan set to raise rates to 31-year high, signals further increases
Bank of Japan set to raise interest rates to 31-year high amid inflation risks
Bank of Japan is expected to raise rates to 1% as inflation, weak yen and energy costs push the central bank towards tighter monetary policy.
June 16, 2026 07:10
Commodities update: Oil rebounds on concerns about US-Iran peace deal, restoration of supply
Oil prices rebounded on Tuesday on concerns about the lack of details in a preliminary agreement ending the war between the U.S. and Iran and the realization the resumption of supply through the key Strait of Hormuz may take longer than thought.
Brent crude futures gained 26 cents, or 0.3%, to $83.42 a barrel and U.S. West Texas Intermediate rose to $81.12 a barrel, up 46 cents, or 0.3%, as of 0108 GMT.
On Monday, oil prices fell by nearly 5% to their lowest close since March 4 after U.S. President Donald Trump said a memorandum of understanding was signed to end the U.S.-Israeli war with Iran, which had closed the Strait of Hormuz that typically carried one-fifth of the world’s oil supply before the conflict and caused about 14 million barrels per day of output to be shut in. – Reuters
June 16, 2026 07:09
Global market updates: Wall Street rallies, Dow ends with record on US-Iran deal, oil price slide
* CBOE Volatility Index falls to over one-week low
– Reuters
June 16, 2026 07:08
Commodities update: Gold steady as investors await details of US-Iran peace deal
Gold prices were largely steady on Tuesday after rising to a more than one-week high in the previous session, as investors awaited further details on the U.S.-Iran peace deal.
* Spot gold was up 0.1% at $4,311.36 per ounce, as of 0049 GMT, after rising over 2% on Monday to hit its highest level since June 5 – Reuters
June 16, 2026 07:07
Iran war latest: US-Iran deal signed, text to be released after Friday signing: Trump
US-Iran deal signed, text to be released after Friday signing, says Trump
Trump says Iran deal is signed and Strait of Hormuz will reopen soon, with text release expected after Friday signing and sanctions tied to Iran’s actions.
June 16, 2026 06:52
Day Trading Guide for June 16, 2026: Intraday supports, resistances for Nifty50 stocks
Day Trading Guide for June 12, 2026: Intraday supports, resistances for Nifty50 stocks
Day Trading Guide gives you the key intraday supports and resistances to watch out for on the Nifty Futures and other widely traded stocks such as Reliance Industries, Infosys, HDFC Bank, TCS, SBI.
June 16, 2026 06:47
Natural gas futures: Support under test
Natural gas futures: Support under test
Traders can go short on a breach of ₹286
June 16, 2026 06:41
Stock to buy today: Elecon Engineering Company (₹559.90) – BUY
Stock to buy today: Elecon Engineering Company (₹559.90) – BUY
Short-term supports are at ₹545 and ₹520. Elecon Engineering Company share price can rise to ₹625 in the coming weeks
The United States military has
overseen scores of secretive ship-to-ship oil transfers to keep
Gulf energy exports flowing, using aerial and water drones as
well as helicopters in an operation to guide convoys to awaiting
tankers.
The operation on the edge of the Strait of Hormuz employs a
shuttling technique long used by Iran to skirt sanctions. Two
specific locations where the oil transfers take place were
identified by 11 people familiar with the operation – one off
the coast of Fujairah in the United Arab Emirates and the other
off Oman’s port of Sohar. It started in early May, and at least
92 ships have been involved in the transfers, according to
shipping data and satellite imagery reviewed by Reuters.
As recently as June 11,17 pairs of ships could be seen
carrying out simultaneous oil transfers at the two sites,
according to satellite images reviewed by Reuters.
An Apache helicopter downed by Iran on June 9, sparking
retaliatory bombings by the U.S., was involved in the mission,
according to four sources, including a former U.S. official with
knowledge of the attack. Using satellite imagery, Reuters
counted six pairs of tanker ships clustered together in a small
area off the port of Sohar the day the Apache was shot down.
Reuters could not confirm what role the Apache played in the
operation. In response to Reuters questions, a U.S. defense
official said no Central Command forces are taking part in an
offshore ship-to-ship oil transfer operation. Both crew members
were rescued by a drone boat, U.S. officials said.
The extent of the ship-to-ship transfers, how they work, and
the Apache’s role in the operation have not been previously
reported. The White House referred questions to Centcom. The
Iranian government did not respond to requests for comment about
the transfer operation.
The two spots where these transfers take place, in the Gulf of
Oman near the exit of the Strait of Hormuz, are close to the
boundaries drawn by the Persian Gulf Strait Authority, a new
Iranian body established to manage the Hormuz Strait. Ships that
fail to comply with Iran’s orders are at risk of drone and
missile attack by the Islamic Revolutionary Guard Corps.
The Fujairah port itself has come under repeated Iranian fire
during the time this U.S.-led operation has been underway. This
past weekend, according to the British maritime risk management
group Vanguard, an “unknown projectile” struck a tanker off the
coast of Oman. Vanguard said in a statement that the crew was
safe and that the impact caused some leakage of the cargo, but
no environmental damage. It did not specify whether the tanker
was involved in a ship-to-ship transfer.
Iran responded to the U.S.-Israeli war by effectively closing
the Strait of Hormuz, through which roughly a fifth of global
oil consumption normally passes. That created the biggest global
energy supply disruption in history and has spurred inflation
around the world.
The ship-to-ship transfers, though risky and inefficient, appear
to be a part of the Trump administration’s efforts to help
restore normal oil flows from the Gulf. U.S. President Donald
Trump said the Strait of Hormuz would reopen Friday under a
framework peace deal with Iran announced this week, but details
remain vague. Reuters could not determine whether the announced
deal had affected the oil transfers.
A Reuters investigation published May 20 found that Iran has
established its own system for ushering ships through the
opposite side of the Strait, involving island checkpoints,
diplomatic deals and sometimes fees.
Staggered departures and waypoints
The American transfer operations are fully controlled by the
U.S. military, said eight of the sources, including a private
security contractor who has been involved in the transfers.
Tankers must sail to a meeting point before they reach the
strait, then stagger their departures so they are around 3,000
to 4,000 meters apart, according to one of the sources as well
as satellite imagery. Their transponders are off and their
lights are dimmed, according to four sources.
A series of waypoints allow the U.S. military to monitor the
progress of the designated tankers, but the Americans are
“obviously watching you all the time,” one of the sources said.
When they pass through the strait, just beyond a zone that
Iran has delineated as under its control, the tankers pull
alongside the recipient ships, which are Very Large Crude
Carriers, or VLCCs, to begin the oil transfers. These take
between 24 and 40 hours to complete. The empty tankers then
shuttle back through the strait and the newly loaded VLCCs sail
onward.
What makes this ship-to-ship operation possible is that
there are a few shippers willing to sail their vessels through
the strait to deliver the oil to the waiting tankers, despite
the Iranian blockade.
But the operation is risky. “You just don’t know when Iran
might just decide to start using drones or even gunboats in
order to prevent even those ships from transiting the strait,”
said Noam Raydan, a senior fellow at Washington Institute who
specializes in maritime risk and who reviewed Reuters’ findings.
The ship-to-ship technique has been used by Iran for years
to bypass sanctions, because it masks the source of the oil. The
Iranians usually operate one pair of ships at a time, both to
avoid detection and because its prewar exports were relatively
small. The U.S.-led operation, which involves mass transfers,
gives Gulf producers better protection from Iranian retaliatory
attacks so they can move crude, condensate and petroleum
products to international buyers.
Reuters reviewed more than a dozen satellite images taken
between May 2 and June 11 showing ship-to-ship transfers
involving state-owned Gulf tanker fleets and internationally
operated vessels that receive the oil. LSEG and Kpler shipping
data reviewed by Reuters showed repeated rendezvous between
tankers operating in the area during the same period.
Based on the imagery, Reuters calculated that at least 90
million barrels of crude oil and petroleum products may have
moved through the offshore network since early May. The volumes,
based on the tankers’ carrying capacities, are still small
compared to the pre-war average of about 20 million barrels that
passed through the strait daily.
“As the old rules weaken, it’s ironic that the United States
is now taking a page out of the playbook of China, Russia, North
Korea, and even Iran, whose so-called ‘dark fleets’ pioneered
these techniques precisely to evade U.S. and UN sanctions,”
Michael Froman, president of the Council on Foreign Relations,
wrote in a note Friday. He was referring to the practice of
sending ships through the strait without transponders, which
Trump mentioned in comments June 10 after the downing of the
Apache.
Six sources with direct knowledge of the operation said the
U.S. has supported participating vessels through a combination
of aerial surveillance, compliance screening and monitoring
rather than naval escort. Reuters found no indication that U.S.
military personnel were directly involved in the transfers
themselves.
Through the Strait
The receiving side of the operation is dominated by
international tanker operators, according to a review of the
shipping records. One of them, Greece-based Dynacom Tankers
Management, has alluded to its efforts to find creative ways to
ship oil through the strait since the war began on February 28.
“Freedom of navigation is essential and nobody can impose
tolls or any other burden,” George Procopiou, Dynacom’s founder,
told a Capital Link shipping conference in Athens on June 1. “We
are here to serve, and Greece has the tradition of breaking
blockades since antiquity,” he said. “I don’t want to go into
more details, but I believe the hints are enough to understand
what I mean.”
Dynacom did not immediately respond to a request for comment
on the U.S. operation.
Another maritime source, however, said the new system
imposes its own risks on their industry.
“There is a paucity of reliable data,” the maritime security
source said. The transponders used to communicate ships
locations are switched off, “and companies are not reporting
through the usual reporting centres.” That risks collision
between the ships, which travel at night with their lights off
at speeds that don’t allow for easy maneuvering, according to
multiple shipping industry officials.
Four sources familiar with the arrangements said operators
seeking access to the system are required to undergo a
compliance review process before being allocated transit
windows. The process includes submitting information to the U.S.
Navy’s Naval Cooperation and Guidance for Shipping office in
Bahrain.
Two preliminary compliance documents reviewed by Reuters
required operators to provide complete geospatial tracking
histories, full beneficial ownership disclosure, cargo
documentation and a willingness to permit cargo testing.
If they are approved, participating vessels are then
assigned transit windows and remain in contact with the U.S.
military office in Bahrain throughout the voyage.
Emirati exports account for a substantial share of the U.S.
transfer operation, according to shipping records reviewed by
Reuters. Six of the sources said UAE’s state-owned national oil
company ADNOC has been among the most active participants in the
U.S.-led transfers.
The Kuwait Oil Tanker Company has also been active in the
transfers. Some 2.3 million barrels of crude were siphoned from
one of its ships off the coast of Sohar on June 6, one of the
busiest days for the transfers, according to TankerTrackers.com
data. The receiving ship, Sea Ruby, was spotted five days later
off India’s southwest coast and bound for China, where the cargo
was expected to be discharged.
The UAE government, ADNOC and the Kuwait Oil Tanker Company
did not respond to requests for comment.
“I don’t see a permanent solution in all of this,” said
Raydan. “This is a temporary solution amid exceptional times.”
Brokerage firm Monarch Networth Capital expects the Nifty 50 to hit 27,000-28,000 during CY2026, implying significant upside from current levels of around 23,600, supported by a recovery in corporate earnings and a favourable monetary policy environment.
The brokerage estimates Nifty earnings per share (EPS) at 1,251 for FY27 and 1,443 for FY28, underpinning its positive outlook on Indian equities.
According to Monarch Networth Capital, India’s long-term growth trajectory remains strong, aided by structural reforms such as the Goods and Services Tax (GST), Real Estate (Regulation and Development) Act (RERA), the Production Linked Incentive (PLI) scheme, corporate tax reforms, infrastructure spending and increasing formalisation of the economy.
The brokerage believes these reforms, along with favourable demographics, rising financialisation of savings, robust foreign exchange reserves and the ongoing shift in global manufacturing towards India, provide a strong foundation for sustained earnings growth across sectors.
Gaurav Bhandari, Chief Executive Officer of Monarch Networth Capital, said the recent correction in several large-cap sectors due to persistent foreign institutional investor (FII) selling appears excessive relative to underlying fundamentals.
“We expect Nifty recovery to be led by banking stocks, telecom companies and a gradual improvement in large-cap IT,” Bhandari said.
He added that corporate India’s resilience is visible in the capital expenditure growth of the top 500 listed non-financial companies, which has nearly doubled to around ₹10 lakh crore compared with pre-pandemic levels.
According to Bhandari, corporate balance sheets have also strengthened considerably, with net debt-to-equity ratios falling to multi-year lows and operating cash flow generation remaining healthy, positioning companies to accelerate investments and drive the next phase of earnings growth.
Positive on midcaps and smallcaps
Monarch Networth Capital said it remains constructive on select small- and mid-cap stocks, citing attractive valuations following a prolonged correction and improving earnings prospects.
“The correction witnessed in large-cap sectors due to sustained FII selling appears excessive relative to underlying fundamentals. At the same time, we are even more constructive on select small and midcap companies where time correction, earnings growth and valuation normalisation over the last 18 months have created attractive stock-picking opportunities,” Bhandari said.
The brokerage expects the Nifty Midcap 150 index to reach around 25,595 levels and the Nifty Smallcap 250 index to climb to approximately 19,640.
Top stock picks
Among its preferred stock ideas, Monarch Networth Capital highlighted State Bank of India (SBI), citing strong asset quality, healthy loan growth, sustainable profitability and potential value unlocking through subsidiaries. The brokerage is also positive on Himachal Futuristic Communications Limited (HFCL), driven by its earnings turnaround, record order book, growing export business and exposure to long-term themes such as 5G rollout, data centre infrastructure, defence manufacturing and fibre demand.
Hindustan Copper is another preferred pick, citing India’s growing copper demand, the company’s capacity expansion plans under its Vision 2030 strategy and its position as the country’s only vertically integrated copper producer as key growth drivers.
The outflows were the highest as of date this year and followed exits to the tune of $2.71 million in the week ending June 5.
| Photo Credit:
istock.com
Investors chose to encash $4 for every dollar invested in physically-backed gold exchange-traded funds (ETFs) last week, as investments continued to witness net negative inflows for the fifth week in a row, data from the World Gold Council (WGC) showed.
The outflows were the highest as of date this year and followed exits to the tune of $2.71 million in the week ending June 5.
Investors in the US led the outflows, encashing over $1.5 billion, while those in the UK ($587 million), Germany ($471 million), China ($359 million), France ($347 million), Japan ($332 million) and Switzerland ($160 million) joined the downtrend. Canada, however, witnessed $358 million in inflows. Data relating to India was not available.
2 opposing forces
According to WGC, inflows into gold ETFs were $850.4 million, while outflows were $4.27 billion. Investors were expected to press the exit button last week as gold dropped below $4,200 an ounce. It recovered after the US and Iran agreed to pause their conflict and sign an agreement.
Renisha Chainani, head of research at Augmont, said precious metals were caught between two powerful opposing forces last week — a developing US-Iran peace framework that steadily unwound geopolitical risk premium, and a wave of inflationary data that revived rate-hike fears.
“The combined effect delivered a second straight weekly decline for gold, though late-session buying in the latter part of the week limited the damage,” she said.
On Tuesday, gold ruled near $4,320 an ounce, adding to the over one per cent gained in the past week. The precious metal had surged to a record high of $5,608 an ounce on January 29, before beginning to drop after the US-Iran war broke out on February 28. Since then, the yellow metal has dropped nearly 23 per cent.
YTD investments drop
Year-to-date, investments in gold ETFs dropped to $11.87 billion as of June 12, compared with $15.28 billion the previous week. Investors in North America have turned bearish, with net inflows being negative at $4.62 billion. In Europe, net inflows were $2.77 billion, while Asia was primarily responsible for net inflows being positive till now. China has a net inflow of $7.29 and India $3.48 billion.
Country-wise, US investors have exited to the tune of $3.81 billion. Net inflows in Italy and France were negative at $208 million and $174 million, respectively.
After India and China, the UK’s investments in gold ETFs were positive at $2.42 billion. Switzerland’s inflows were net positive at $1.82 billion, followed by Japan ($1.26 billion), Hong Kong Special Administrative Region ($951.5 million), South Korea ($851.6 million) and Canada ($330 million).
Exits from SPDR gold shares were to the tune of $859.5 million, and in IShares Gold Trust, they were $595 million.
Tonnage slips
In terms of tonnage, ETFs hold 4,080,10 tonnes (4.106.3 tonnes a week ago). They were, however, higher than 3,583.7 tonnes a year ago.
Gold prices have dropped on concerns over inflation, hopes of a hike in bank interest rates, rising bond yields, and fears of global economic growth. A rise in crude oil prices encouraged investors to shift to the fossil fuel complex from precious metals, besides an uptick in agricultural commodities.
The yellow metal witnessed a dazzling rally between 2024 and February 2026 as it was seen as a haven asset due to interest rate cuts by central banks, geopolitical crisis and US tariff wars with various countries.
