India’s National Financial Reporting Authority (NFRA) has confirmed it has launched a formal investigation into Rajesh Exports Ltd, after the Securities and Exchange Board of India (SEBI) issued an interim order alleging revenue misrepresentation of about Rs 15.15 lakh crore over five years. SEBI also alleged diversion of funds and gaps in disclosure related to subsidiaries, and barred the company and promoter Rajesh Mehta from accessing the securities market. The stock is down 47.25% year-to-date and fell a further 3.32% on the day.

Vedanta, Tata Steel, Hindalco and Hindustan Zinc are set to report FY2025 first-quarter results. Brokerage Nuvama expects higher zinc, aluminium and copper prices to lift EBITDA, with Vedanta’s international zinc business seen surging 145% QoQ and Hindalco’s aluminium segment rising 16% QoQ. Some segments are likely to see weaker volumes, but price strength is expected to underpin earnings improvement.

Trent Ltd reported 19% year-on-year provisional revenue growth for the June quarter, below the 22% growth analysts had penciled in. Brokerages said the topline was largely supported by a 26% YoY rise in store count, while revenue per store fell 5% YoY, pointing to slower ramp-up at newer stores or continued cannibalisation at select locations. The stock fell 9.96% to Rs 3,010.10 on the BSE, trimming its 2026 gains to 6.49%.

India’s Ministry of Finance has allowed four Chinese manufacturers—TBEA, Northeast Electric, Nanjing and Taikai—to participate in domestic power equipment tenders for two years, while stating the move does not set a precedent. Nomura said the four firms have won only 9% of PGCIL tenders over the past 11 years due to structural barriers such as qualification requirements, local execution track record and certification cycles. The exemption applies only to specified companies that already manufacture in India and does not open the door to Chinese imports. Nomura said recent pullbacks in GE Vernova T&D India and CG Power shares reflect an overreaction and it maintained a “Buy” rating on both.

India’s finance ministry has cleared four China-linked power equipment makers with factories in the country—including TBEA Energy and Nanjing Electric India—to bid for government tenders tied to critical power projects. The move breaks with earlier restrictions on Chinese bidders and has raised concerns that orders could shift away from domestic suppliers such as BHEL, Siemens Energy, Hitachi Energy and GE Vernova. In that session, BHEL fell 4%, Siemens Energy dropped 6.23%, Hitachi Energy slid 10% and GE Vernova sank 12%.

On June 29, 2026, international bullion markets weakened as a firmer U.S. dollar and expectations that the Federal Reserve may keep interest rates higher for longer weighed on sentiment. In India, domestic gold prices were broadly steady while silver edged lower. MCX gold futures fell 0.64% to about ₹143,670/10 grams, while silver futures slipped to ₹222,700/kg. Across major cities, 24K gold retail prices were largely in the ₹1,40,900–1,43,170/10 grams range and 22K gold in ₹1,31,100–1,33,000/10 grams, with silver mostly at ₹2,400–2,450/10 grams.

On June 25, silver ETFs fell nearly 3.81% and gold ETFs dropped as much as 2.72%, tracking a sharp pullback in domestic and global bullion prices. MCX silver’s July contract swung by nearly Rs 3,000 per kg at the open, while MCX gold’s August contract briefly slipped to Rs 1,40,543 per 10 grams. Harshal Dasani of INVasset PMS said the move reflects a “volatility reset” tied to a stronger dollar, rising rate-hike expectations and the unwind of crowded safe-haven positioning.

Shares of aluminium- and zinc-linked companies fell sharply, with Vedanta down 8.85%, NALCO down 4.4%, Hindalco down 2.72% and Hindustan Zinc down 2.81%. The declines were driven by weaker aluminium prices amid rising Chinese exports and near record-high domestic production. While zinc pricing was not detailed, Hindustan Zinc’s drop pointed to broad pressure across metal stocks. Kotak said global aluminium supply constraints outside China persisted, keeping medium-term balances relatively tight.

Kirloskar Oil Engines said it won a power-systems order from hyperscale data centre operator HyperNext for 96 units, or 192 MW, sending the stock up 14% to a 52-week high. Pace Digitek said it will invest Rs 200 crore to expand its BESS manufacturing capacity by 7.5 GWh and approved buying the remaining stake in Inso Pace to make it a wholly owned subsidiary. EMS shares rose 11% as the market re-rated the company’s water-sector EPC business.