SEBI busts ₹144cr pump-and-dump; Infosys, KPIT tank

The regulator’s 394‑page order exposed a coordinated scheme that inflated five small‑cap stocks using fake broker SMS blasts and layered fund transfers. SEBI barred 221 entities for up to seven years and imposed penalties totalling ₹143.79 crore, clawing back illicit gains and signalling tougher enforcement.

KPIT Technologies’ shares dropped 17% to a four‑year low after a profit warning that Q1‑FY27 USD revenues will fall about 1% YoY, blamed on sudden spending cuts by European OEMs. The warning hit 6 lakh retail investors, LIC and MIT, and prompted downgrades that trimmed the target price to ₹550.

The Expenditure Finance Committee approved a Rs 1.25 lakh‑crore budget for India Semiconductor Mission 2.0, prompting a rally in semiconductor‑linked stocks. CG Power, Kaynes Technology and MosChip jumped 2‑4%, signaling investor optimism that the funding will jump‑start domestic chip manufacturing and supply chains.

Infosys dropped to ₹986.90, slipping below ₹1,000 for the first time since September 2020 and shaving about ₹2.53 lakh crore off its market value, now near ₹4 lakh crore. The sell‑off reflects amplified AI disruption worries, muted earnings and US rate‑rise expectations, leaving the Nifty IT index as the year’s weakest sector.

Japan approved a 25‑year contract‑for‑difference worth about $3 billion for the ACME‑IHI joint venture’s 405,000‑tonne per year green ammonia plant in Gopalpur, Odisha. The subsidy guarantees Japanese buyers a price comparable to grey ammonia, making the project bankable and positioning India as a future export hub for low‑carbon fertilizers.

AEI’s new report contends that India’s headline 7%‑plus GDP growth masks chronic private‑investment shortfalls, stagnant job creation and a dubious GDP deflator. The study warns investors that weak trade competitiveness and opaque labor data undermine the country’s claim as a global growth engine, raising risks for foreign capital.

India and Japan will seal a joint LNG stockpiling task force at Prime Minister Takaichi's Delhi visit, a move aimed at insulating both economies from West‑Asia supply shocks. The pact gives them a coordinated reserve and info‑sharing channel, tightening energy security for two of the region’s biggest importers.

Gold slipped under $4,000, closing June down 12%, the biggest monthly drop since 2008. The slide was driven by higher US Treasury yields, a firmer dollar and fears of another Fed rate hike, compounded by lingering US‑Iran tensions. The oversold market may set up a short‑term rebound, but volatility remains.

India imported a record 4.93 million barrels per day of crude in June, with Russian shipments rising to about 2.6 million bpd, over half the total. The surge shows Indian refiners’ ability to lock in supply through diversified sources even as West Asian tensions rattled markets.