Stocks

Samsung Electronics reported operating profit jumping 19-fold to 89.4 trillion won, with revenue more than doubling, yet its shares fell 8.7% as South Korea’s Kospi dropped 7.6%. Analysts said the market is undergoing its first real stress test of the AI trade, with strong results intensifying doubts over AI-chip valuations and whether capex can deliver adequate returns. In Japan, Kioxia slid 10.7% and the Nikkei 225 fell 1.8%, underscoring broad selling pressure across AI hardware.

IREN Ltd (NASDAQ: IREN) shares jumped 13.11% to close at $43.91 following a Freedom Capital upgrade to "Buy" and reports linking the data center operator to Anthropic's massive 1.4-gigawatt Australian infrastructure tender. This explosive rally snapped a brutal nine-day losing streak as the company continues its high-margin pivot from Bitcoin mining to AI cloud services.

Titan Company reported a strong Q1 FY27 business update filed on July 6, 2026, with consumer business revenue up 41% year-on-year and jewellery revenue rising 39%. Caratlane grew 42%, while watches and eyecare increased 23%. International business revenue jumped 128% on the consolidation of Damas Jewellery. The stock climbed 3.66% to ₹4,648.60, setting a 52-week high.

ADNOC Distribution said it has signed a definitive agreement to acquire 100% of Shell Downstream South Africa (SDSA) for an implied enterprise value of about $1 billion, including 580 fuel stations and wholesale fuel, aviation and lubricants operations. The deal is expected to close in 2027 and is projected to lift earnings per share by 6% in the first full year after completion, with an IRR above the company’s hurdle rate. After completion, a 28% stake in SDSA is expected to be sold to a local empowerment partner and an employee stock option plan. ADNOC Distribution is listed on the Abu Dhabi Securities Exchange under the symbol ADNOCDIST.

RITES Ltd. said it has won a $35.82 million order from Volantis Asset Finance (Ply) Ltd. to supply and commission 4,000 HP Cape Gauge diesel-electric locomotives, to be executed within 20 months. The deal marks the company’s first major international business breakthrough in two years, alongside expectations that turnkey work will contribute 10% to 15% in financial year 2027 and an overseas order book of more than ₹2,100 crore. Shares rose 8.1% to ₹233.76, making the stock the top gainer on the Nifty 500 index.

Samsung Electronics reported an unprecedented 19-fold jump in preliminary Q2 2026 operating profit to 89.4 trillion won, soundly beating global forecasts. Fueled by a compounding systemic shortage of conventional DRAM and soaring AI infrastructure demand, the South Korean tech giant is flexing its immense capital scale to cement global semiconductor dominance.

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%.

Opendoor Technologies (NASDAQ: OPEN) shares surged 3.88% to close at $5.09 on July 6, 2026, driven by heavy volume following its Russell 3000 index inclusion. While CEO Kaz Nejatian’s Opendoor 2.0 efficiency metrics showcase faster asset turnover, persistent net losses keep this digital real estate platform firmly in the speculative spotlight.

India’s government has launched an offer for sale (OFS) of up to a 5.04% stake in Cochin Shipyard. The OFS opens to non-retail investors today, while retail investors and employees can participate tomorrow. The floor price has been set at Rs 1,400 per share.

Trent reported FY2025 Q1 standalone revenue of Rs 56.66 billion, up 19% year on year, slightly below some brokerage expectations. The retailer added one Westside store and 19 Zudio outlets in the quarter, taking its total store count to 1,312. Bernstein kept an 'Outperform' rating with a Rs 3,500 target, Morgan Stanley reiterated 'Overweight' with a Rs 3,151 target, and Citi maintained a 'Sell' with a Rs 2,733 target. The stock closed at Rs 3,343.8 on Monday, up 16.6% in 2026 and outperforming the Nifty 50.