Godfrey Phillips India shares rose 7% after Samir Modi said he would withdraw all legal cases against his mother and company chairperson Bina Modi, signalling a possible thaw in the founding family’s succession dispute. The stock touched an intraday high of Rs 2,409.8 before trimming gains and ending up 3.35%. The move eased investor concerns over corporate governance and boardroom stability that had weighed on sentiment.

Nazara Technologies reported a consolidated net loss of Rs 82.47 crore for the first quarter ended June 30, while revenue from operations fell 14 percent year on year to Rs 428.77 crore. Founder and CEO Nitish Mittersain said he will resign from the CEO role effective September 1, 2026, and continue as managing director. The company also revised its acquisition plans to buy 100 per cent of Spanish social gaming platforms Bluetile Games and BestPlay Systems for an aggregate fixed cash consideration of USD 303.02 million (about Rs 2,909 crore).

Foreign institutional investors cut holdings in major Indian banks in Q1 FY27, including HDFC Bank (down 2.18 percentage points to 41.82%), Axis Bank (down 2.09 percentage points to 42.05%) and ICICI Bank (down 0.69 percentage points to 33.79%). Federal Bank was the exception, with FII ownership rising 1.66 percentage points to 27.71%. Over the same period, the Nifty index gained 16% in July. The shift points to weaker near-term foreign sentiment toward large banks even as the broader market rebounded.

SBI Funds Management posted its first quarterly results since listing, reporting a 3.3% year-on-year rise in net profit to Rs 873 crore for the quarter ended June 30, 2026. Revenue from operations increased 15.2% to Rs 1,146 crore, while assets under management rose 11% to Rs 12.6 trillion. Despite the growth, the stock fell 2% to Rs 576 on the BSE.

Peak XV and Elevation Capital are set to pare their holdings in Meesho through a block deal of about Rs 1,900 crore, involving a combined 2.3% stake. The sale is for nearly 10.5 crore shares at a floor price of Rs 182.08 each, a 5% discount to the prevailing market price. Meesho also reported that its Q1 net loss narrowed to Rs 133 crore, while Citi reiterated a Buy rating and raised its target price to Rs 220 from Rs 210.

State-run Oil and Natural Gas Corporation (ONGC) is developing a 1.75 million tonnes petroleum storage facility at Mangaluru, with half of the capacity set aside for strategic reserves and the rest for commercial operations. Separately, three investors in Paytm parent One 97 Communications plan to sell shares worth up to Rs 2,002 crore at a 5% discount in a deal structured as a 100% secondary sale, meaning the company will not receive proceeds. LIC, Airtel and BSE were also among stocks on investors’ radar amid a broader market rise.

India’s National Stock Exchange (NSE) rolled out a new closing auction to replace the previous 30-minute volume-weighted average price (VWAP) method for setting official closes. The Nifty ended at 24,774.30, up 390.70 points (1.60%), after a 0.8% late surge at around 3:28 PM, while the Sensex closed at 78,639.03, up 544.39 points (0.70%). The 90-basis-point gap between the indices was far wider than the usual 5–10 basis points, pointing to immediate disruption in index pricing and derivatives settlement.

Sebi has exempted six Muthoot promoter family trusts from making an open offer tied to the proposed indirect acquisition of shares in Muthoot Microfin, allowing an internal restructuring to proceed. After the transactions, the trusts are set to collectively hold a 63.35 per cent stake and control in Muthoot Fincorp, which owns 50.21 per cent of Muthoot Microfin. The relief is linked to Muthoot Fincorp’s IPO plan approved by its board on May 16 and the need to meet minimum promoters’ contribution norms, according to Sebi’s order.

After two consecutive quarters of net selling, Foreign Institutional Investors (FIIs) turned net buyers, helping drive sharp gains in several small- and mid-cap stocks. Cupid and Sigma Advanced Systems led the moves, with shares up 664% and 450% over one year as FII ownership increased over the same period. In total, 38 stocks posted one-year returns above 25%, though the report does not cite broader market moves or fundamental drivers such as policy, earnings or sector trends.