RITES Ltd. said it has won a $35.82 million order from Volantis Asset Finance (Ply) Ltd. to supply and commission 4,000 HP Cape Gauge diesel-electric locomotives, to be executed within 20 months. The deal marks the company’s first major international business breakthrough in two years, alongside expectations that turnkey work will contribute 10% to 15% in financial year 2027 and an overseas order book of more than ₹2,100 crore. Shares rose 8.1% to ₹233.76, making the stock the top gainer on the Nifty 500 index.

Canada said it has chosen Germany’s Thyssenkrupp Marine Systems as the preferred contractor to build around 12 submarines, passing over a bid from South Korea’s Hanwha Ocean and its partner HD Hyundai Heavy Industries. Hanwha Ocean shares fell more than 23% on the news. HD Hyundai Heavy Industries briefly slid 10% in early trade, while South Korea’s Kospi was down around 6% midmorning, weighed in part by post-earnings profit taking in Samsung Electronics.

Waterways Leisure Tourism, the operator of Cordelia Cruises, listed on July 1 and ended its debut 17% below its issue price. The stock hit two 10% upper circuits within four full trading days. On July 6 evening, the company said its board will consider a stock split at its July 10 meeting. Each share currently has a face value of ₹10, and the stock is trading below its IPO price of ₹808.

OPEC+ said it would raise production from August, sending Brent and WTI down 1.4% and 1.2%, respectively. Foxconn, a major contract manufacturer, reported quarterly sales that beat expectations, reinforcing resilience in demand for AI hardware. Samsung Electronics is set to report earnings the next day, with the market looking for an 18-fold year-on-year jump in operating profit. Nasdaq 100 futures led US index futures higher with a 1.2% gain as technology shares rebounded.

India’s Ministry of Finance granted a two-year exemption to four Chinese companies to supply specific EHV grid equipment only from manufacturing facilities in India, while the import ban remains in place. The move was widely read as a broader competitive threat, sending GE Vernova, CG Power, Hitachi Energy India and Siemens Energy India down 7%–9% in a single session. On July 6, brokerages including Nomura, Jefferies and Macquarie said the exemption is narrow, time-bound and difficult to translate into meaningful capacity, framing it as a stopgap for current shortages rather than a long-term substitute. The stocks rebounded 2.3%–4.2%, with GE Vernova up 4% to end a nine-day losing streak.

AU Small Finance Bank, Suryoday SFB, L&T Finance, CreditAccess Grameen and Utkarsh SFB released their FY2026 Q1 business updates between July 3 and July 5, 2026. AU’s deposits rose 23.5% year-on-year to ₹1.57 lakh crore, while L&T Finance reported a 36% year-on-year increase in retail disbursements and CreditAccess Grameen posted 11.9% growth in disbursements. As the first quarterly disclosures, the figures offer a direct read on credit expansion and balance-sheet health and act as fundamental catalysts for the respective NBFC stocks.

SBI Funds Management plans to kick off its IPO in the week starting July 13, aiming to raise up to $1.2 billion. The company has trimmed its targeted valuation range to ₹1.15–₹1.2 lakh crore (about $12.1–$12.7 billion). The deal is a pure offer-for-sale, with major shareholders SBI and Amundi reducing their stakes and no new capital raised. Nine investment banks have been appointed as joint bookrunners for the listing.

India’s silver market has seen fresh imports nearly stall after the government imposed licensing requirements on most HS codes, leaving buyers reliant on existing stocks and recycled metal. Spot premiums have climbed to around 10%. With demand expected to pick up in August–September for the festive and wedding season, the market could face a supply-demand imbalance if restrictions are not lifted. Metals Focus forecasts silver at $80–85 an ounce over the next 12 months, with upside potential to $100.

Sumitomo Chemical India shares rose 9.55% on July 3, posting their biggest single-day gain since September 2024, with trading volume at 27 times the 10-day average. The move followed its Japanese parent’s announcement of a joint venture with Samsung ElectroMechanics to develop glass core substrates for AI chip packaging, targeting commercial supply in the second half of fiscal 2027. The partnership strengthens the group’s positioning in semiconductor back-end materials. Even after the rally, the stock is still nearly 27% below its 52-week high.