JSW Cement reported first-quarter net profit of 1.61 billion rupees, reversing a year-ago net loss of 13.56 billion rupees that included exceptional items. Revenue rose 21.6% year on year to 18.96 billion rupees, supported by stronger demand and price increases. India’s cement output grew 8.2% in April, 8.4% in May and 9.8% in June, while average prices rose about 4% quarter on quarter, below analysts’ expectations. Total expenses increased 26.5% to 17.93 billion rupees.

Aluminium on the London Metal Exchange has climbed above $3,800 per tonne, up 30–35% from 2024, while copper has moved past $14,000 per tonne, about 28% higher than the FY24 average. Electrical power equipment accounts for about 48% of aluminium demand, and wind and solar projects also consume large amounts of copper and aluminium. With India adding over 30 gigawatt (Gw) of solar and 6 Gw of wind annually, fixed-tariff TBCB projects have limited ability to pass through higher input costs, raising the risk of margin pressure and procurement delays.

IndiGo shares have climbed 23.7% so far in June, putting the stock on track for its biggest monthly gain since March 2019. The rally comes as WTI and Brent crude prices have fallen about 42% from their March–April peaks, dropping below levels seen during the US-Iran war. Analysts say a temporary US-Iran understanding has eased supply concerns, alongside higher tanker traffic through the Strait of Hormuz, a temporary US waiver for already-loaded Iranian oil, and seasonally softer demand. Lower aviation turbine fuel (ATF) costs are a key earnings tailwind for airlines.

Metal stocks fell broadly on Thursday, with Vedanta, NALCO and Hindustan Zinc down about 3% each, while the Nifty Metal index slipped 1% to 12,496. The move followed a 7% drop in international silver prices to $57.70, more than halving from the late-January 2026 peak of $121.78. A firmer US dollar—its index near a one-year high of 101.5—and expectations of a US Federal Reserve rate hike in September also weighed on sentiment. China’s May steel exports fell 3% year on year, adding to concerns over global metals demand.

Brent crude has fallen to $73 a barrel, its lowest level since the U.S.-Iran war began on February 28, 2026, and is down 37% from its May 2026 peak of $115 a barrel. The drop helped lift India’s Nifty Auto index 2.2% in a single session, with several auto stocks rising 2%–3%. The report attributes the rally to easing diesel costs and lower total cost of ownership (TCO) for fleet operators as oil prices decline.

JSW Infrastructure reported Q4FY26 revenue of ₹1,520 crore, up 19% YoY, with EBITDA rising 20% and non-port revenue climbing 74% YoY. The non-port EBITDA margin expanded by 1,700 bps to 28.2%, while the company said the February rail consolidation added 25 rakes and is set to add 40 more in FY27. Management reiterated FY27–FY28 guidance of around 42% revenue CAGR and 39% EBITDA CAGR, with multiple port and pipeline projects described as on schedule and Oman port talks viewed positively. It estimated a ₹32 crore EBITDA hit at the Fujairah terminal after West Asia conflict-related damage, but kept overall guidance unchanged.

India has extended its sugar export ban through September 30, 2026 as El Nino raises the risk of weaker cane output and more cane is diverted into ethanol after the country reached 20% blending in 2025. For 2025–26, sugar output is projected at 30.95 million tonnes against domestic consumption of 28.5 million tonnes, with 3.4 million tonnes diverted to ethanol, leaving only a thin exportable balance. In the current season, production is estimated at around 27.9 million tonnes, close to annual domestic consumption, limiting room for exports after shipments of about 800,000 tonnes were allowed before the halt.

The Nifty/Gold and Nifty/XAUINRG ratios have fallen to near 10-year and 30-year lows, respectively, moving into a historically significant support band of 1.55–1.85. Similar extremes were seen after the 2008–09 financial crisis and around 2012–13, periods that were followed by stretches in which Nifty outperformed gold. The unusually wide divergence between the two asset classes suggests market leadership may be shifting from gold back toward equities, according to SAMCO Securities analyst Dhupesh Dhameja.

India sharply increased crude oil imports from Russia and the United Arab Emirates in June, with Russian flows averaging 2.66 million barrels per day through June 19 and UAE shipments close to record levels. Over the same period, U.S. crude imports fell to 91,000 barrels per day. The shift followed disruptions after Iran closed the Strait of Hormuz, and limited transits resumed in late June after a U.S.-Iran ceasefire.