Although the benchmark indices opened lower, they traded negatively throughout the session and ultimately closed red.
Indian equity benchmark indices, Sensex and Nifty50, declined for the seventh day and the Sensex for the fourth day amid losses in global equities.
At the closing bell, the BSE Sensex closed 325 points lower (down 0.4%)
Meanwhile, the NSE Nifty closed 76 points lower (down 0.3%)
HCL Tech, Eternal, Kotak Mahindra are the top gainers today.
Bajaj Finance, ITC, HUL, on the other hand, were among the top losers today.
The GIFT Nifty was trading at 24,090, 89 points lower at the time of writing.
The BSE 150 Midcap index is trading 0.4% lower, and the BSE 250 SmallCap index is trading 0.6% lower.
The rupee is trading at Rs 95.6 against the US$.
Gold prices for the latest contract on MCX are trading 0.1% higher at Rs 1,54,434 per 10 grams.
Meanwhile, silver prices were trading 1% lower at 2,30,075 per 1 kg.
MobiKwik Completes Transfer of Digital Lending Business
MobiKwik has completed the transfer of its entire digital lending business, along with the related employees, to its wholly owned subsidiary, MobiKwik Distribution Services Private Limited (MDSPL).
MDSPL has been created as a dedicated subsidiary to manage MobiKwik's digital lending activities, including sourcing and distributing loan products. The move received the required corporate approvals, including shareholder approval through a postal ballot on July 2, 2026. Following the approval, MobiKwik invested ?60.85 crore in MDSPL.
The move was also part of the conditions set by the RBI for granting the company its NBFC licence. With the transition complete, Manish Pathania has been appointed Chief Business Officer of MDSPL. He will lead the lending business and focus on expanding its operations.
Pathania has nearly 20 years of experience in digital lending, business development and financial services. Before joining MobiKwik, he led the digital lending business at Bajaj Markets and has also worked with GE Money and HDB Financial Services.
With MDSPL now handling the digital lending business, MobiKwik expects to further expand this segment. The company is targeting quarterly loan disbursals of more than Rs 10 billion in the coming quarters, supported by AI-based initiatives and new lender partnerships.
Crompton Eyes Growth Through New Product Categories
Consumer durables major Crompton Greaves Consumer Electricals Ltd is looking to drive growth in the coming years by expanding into new markets, focusing on premium products and entering new categories such as solar rooftops, wires and water purifiers, Managing Director and CEO Promeet Ghosh said on Tuesday.
The company has expanded its total addressable market (TAM) from around Rs 800 billion three years ago to nearly Rs 1.6 trillion, following its entry into new segments including solar rooftops, solar pumps, wires and water purifiers.
TAM refers to the total potential revenue or customer demand available for a product or service if a company were to capture the entire market.
The company, which currently has a market size of around Rs 80 billion, is aiming to nearly double its revenue to Rs 150 billion over the next five years.
The company also recently unveiled a refreshed brand identity as it looks to attract younger consumers who are increasingly looking for smart, connected and stylish products. It plans to combine its long-standing brand trust with newer products and technologies to support future growth.
Comments
Log in or sign up to join the conversation.