JPMorgan Chase analysts are skeptical of the $2 trillion growth projection for the stablecoin market, deeming it overly optimistic. While acknowledging stablecoins potential for instantaneous cross-border payments, they highlight the underdeveloped infrastructure and ecosystem.

Mahindra Holidays & Resorts, a Vijay Kedia portfolio stock, reported a robust 69% YoY surge in standalone net profit to ₹76 crore for the June quarter. Revenue climbed 5% to ₹369 crore, with EBITDA soaring 42% to ₹161 crore. MD & CEO Manoj Bhat highlighted strong domestic performance and resilience in European operations despite currency headwinds.

Brigade Hotel Ventures launched its IPO today. The IPO aims to raise ₹759.6 crore. The price band is ₹85–90 per share. The IPO will close on July 28. Listing is expected on July 31. The company plans to expand to 14 hotels by FY29. Brokerages have a mixed view on the IPO. High valuations are a concern.

Here s a detailed look at the brokerage calls and what they imply for investors for the next 12 months.

Indian banks are exhibiting converging ROEs and growth patterns, with PSU banks now proactively raising capital. The AMC sector benefits from India s shift towards investing, offering stability compared to the more volatile broking industry. Capital markets, new tech, electronic manufacturing, and defence sectors present significant alpha generation opportunities due to their high growth potential.

Sebi has announced that research service personnel must obtain NISM certification within a year. Institutional investors no longer need to sign consent forms. Research analysts will still share terms and conditions. Sebi clarified what constitutes a research report. Journalists are exempt from registration, but recommendations must be based on registered analysts reports. Restrictions apply to trading securities recommended by analysts.

Banks rushed to borrow from the RBI s VRR auction as overnight money market rates exceeded the policy repo rate. This spike, driven by GST outflows and previous VRRR actions, led to banks utilizing the MSF. While the VRR auction provided some relief, overnight rates remained elevated above the SDF rate, highlighting liquidity pressures.

Yes Bank s succession plans will be clearer after SMBC s stake purchase. Prashant Kumar s tenure got a six-month extension. SMBC applied to RBI and CCI for approvals. The deal finalization awaits these approvals. Kumar anticipates a challenging September quarter for the banking sector due to sluggish credit growth and the impact of repo rate cuts.

India s net foreign direct investment plummeted 98% to $35 million in May, driven by increased repatriation and decreased gross inflows. While gross inflows experienced an 11% YoY decline to $7.2 billion, repatriation surged by 24% to $5 billion. Despite this FDI dip, India s foreign exchange reserves remain robust at $696.7 billion.

Infosys showcased robust sequential revenue growth in the June 2025 quarter, driven by a lower base, improved pricing, and higher utilization, outperforming its peers. The company revised its FY26 constant currency revenue guidance upwards to 1-3% due to strong new deal wins.