Gold futures fell 0.85% on Thursday to $4,116.50 an ounce, while silver futures slipped 0.83% to $59.795 an ounce. The retreat was attributed to profit-taking after the recent rally, even as geopolitical tensions in West Asia lifted oil prices to a six-week high. Higher crude prices pushed up U.S. Treasury yields and the dollar index, with markets now focused on next week’s Federal Reserve meeting for signals on the interest-rate path.

Dr. Reddy’s Laboratories reported a weaker-than-expected June-quarter performance, weighed down by a ₹240 crore provision tied to a Semaglutide API issue and a 35% drop in North America revenue to ₹2,204.8 crore. Its US-listed ADRs fell 10%, while the stock ended 2% lower in India at ₹1,182.8. Motilal Oswal maintained a “neutral” rating but cut its price target to ₹1,125, implying 5% downside from Wednesday’s close. The company said it is working to identify the root cause of the Semaglutide issue and does not expect further provisions.

Canara Robeco AMC reported its first quarterly results since listing, with net profit up 83% quarter-on-quarter to ₹75.6 crore. Other income swung to ₹29.6 crore from negative ₹10.4 crore, while operating margin edged up to 62.65% from 62.17%. Quarterly Average Assets Under Management (QAAUM) rose 1% to ₹1.18 lakh crore. The stock climbed as much as 17% intraday, its biggest single-day rise since the October 2025 listing, and now trades at ₹273.44, 8.4% above the ₹266 issue price.

Central Mine Planning & Design Institute Ltd. (CMPDI) reported FY27 first-quarter revenue of ₹481.4 crore, up 18% year-on-year, with EBITDA rising 62% to ₹145.5 crore. The EBITDA margin expanded to 30.2%, while net profit increased 54% to ₹116.3 crore. Planning & Design posted the strongest segment growth at 26%, while Geomatics revenue fell 9%. The stock is up 66% so far in 2026, significantly outperforming the broader market.

CLSA has initiated coverage on Ultratech Cement with a “High Conviction Outperform” rating and a target price of Rs 14,000. The company reported 1QFY27 volume growth of 13% YoY and EBITDA per tonne of Rs1,183, both ahead of expectations. The note said the cost outlook also surprised positively, with guidance well below typical seasonal inflation, and described the report as a clear near-term earnings catalyst for the stock.

UltraTech Cement, India’s largest cement maker, reported June-quarter revenue of ₹24,648 crore, net profit of ₹2,604 crore and EBITDA of ₹5,016 crore, all above market expectations. Consolidated sales volumes rose 12.2% year on year, while grey cement volumes increased 13.1% to 39.17 million tonnes. Several brokerages reiterated “Buy” ratings and raised target prices, with the highest at ₹15,209. The stock ended 1.5% higher and is up more than 4% so far this year.

Asian markets were little changed as investors stayed cautious amid renewed inflation worries linked to escalating tensions in West Asia, with Brent crude down 0.4% to $88.86 a barrel. Japan’s Nikkei 225 rose 1.4% while South Korea’s Kospi was flat. U.S. equity index futures eased 0.1%. Traders are also watching megacap tech earnings due this week and next week, according to CNBCTV18.com.

Gold and silver futures advanced on India’s MCX on July 20, with the August gold contract up 0.21% and the September silver contract rising 0.75%. Overseas, Comex silver climbed 1.21% to $56.59 per ounce, while gold edged down 0.17%. The move was attributed to firm spot demand, cross-market buying and renewed inflation expectations tied to geopolitical tensions.

JPMorgan maintained an Underweight rating on Tata Technologies with a target price of Rs 540. The company’s 1QFY27 revenue grew 4.3% year-on-year on a constant-currency basis, but gross margin came in below expectations. Management reaffirmed its FY27 guidance for double-digit organic constant-currency revenue growth, while flagging near-term pressure from client restructuring in Germany. The stock is up 28% since early May and trades at 38x FY27E PE, which the bank views as stretched.