India’s finance ministry has cleared four China-linked power equipment makers with factories in the country—including TBEA Energy and Nanjing Electric India—to bid for government tenders tied to critical power projects. The move breaks with earlier restrictions on Chinese bidders and has raised concerns that orders could shift away from domestic suppliers such as BHEL, Siemens Energy, Hitachi Energy and GE Vernova. In that session, BHEL fell 4%, Siemens Energy dropped 6.23%, Hitachi Energy slid 10% and GE Vernova sank 12%.

On June 29, 2026, international bullion markets weakened as a firmer U.S. dollar and expectations that the Federal Reserve may keep interest rates higher for longer weighed on sentiment. In India, domestic gold prices were broadly steady while silver edged lower. MCX gold futures fell 0.64% to about ₹143,670/10 grams, while silver futures slipped to ₹222,700/kg. Across major cities, 24K gold retail prices were largely in the ₹1,40,900–1,43,170/10 grams range and 22K gold in ₹1,31,100–1,33,000/10 grams, with silver mostly at ₹2,400–2,450/10 grams.

Shares of aluminium- and zinc-linked companies fell sharply, with Vedanta down 8.85%, NALCO down 4.4%, Hindalco down 2.72% and Hindustan Zinc down 2.81%. The declines were driven by weaker aluminium prices amid rising Chinese exports and near record-high domestic production. While zinc pricing was not detailed, Hindustan Zinc’s drop pointed to broad pressure across metal stocks. Kotak said global aluminium supply constraints outside China persisted, keeping medium-term balances relatively tight.

Kirloskar Oil Engines said it won a power-systems order from hyperscale data centre operator HyperNext for 96 units, or 192 MW, sending the stock up 14% to a 52-week high. Pace Digitek said it will invest Rs 200 crore to expand its BESS manufacturing capacity by 7.5 GWh and approved buying the remaining stake in Inso Pace to make it a wholly owned subsidiary. EMS shares rose 11% as the market re-rated the company’s water-sector EPC business.

Kirloskar Oil Engines (KOEL) shares surged 20% in a single session to a record Rs 2,390.80, taking their six-month gain to 82.35%. The rally followed KOEL securing a genset supply order for HyperNext’s 192MW hyperscale data centre, involving 2,500KVA Optimprime Dual Core Systems. On the back of the win, JM Financial upgraded the stock to ‘Buy’ and raised its target price to Rs 2,430. KOEL is also advancing development of 2,750KVA and 3,000/3,300KVA engines, targeting a 6MW marine propulsion engine by FY28, while a Rs 1,400 crore expansion at its Kagal plant is expected to support Rs 500–600 crore in additional annual sales.

Reliance Jio is considering investing $10–15 billion to build a low Earth orbit constellation of more than 1,600 satellites, and has filed for approvals with IN-SPACe and the ITU. The project aims to provide space-based broadband and direct-to-device connectivity. The plan takes aim at Starlink’s regulatory hurdles in India, particularly security concerns that its laser inter-satellite links (LISL) could route data beyond national borders. The Indian government is considering rules requiring foreign satellite services to land Indian user traffic domestically or disable LISL, while Starlink, OneWeb and Jio-SES still lack formal operating licenses in India.

Tesla has launched an “Ease of Ownership” plan for the Model Y in India, requiring a ₹6 lakh down payment and monthly payments starting at about ₹39,990. The company says the all-in cost of ownership can be lower than for conventional petrol vehicles. The programme comes alongside the opening of a new Tesla Experience Centre in Hyderabad. Tesla has not announced a mass-delivery timeline or any local production plan.

India’s LNG imports fell 21% year on year in May to 2.27 billion standard cubic metres after the conflict in West Asia disrupted energy cargoes moving through the Strait of Hormuz. Natural gas consumption and domestic output also declined, while import dependence eased to 44.8%. Even as LNG inflows fell, India increased purchases of Russian crude, with May volumes up 21% month on month and several refineries logging multi-year highs in Russian arrivals.

India’s silver jewellery exports in April–May 2026 rose 172.53% year on year to $365.77 million, while platinum jewellery exports increased 24.97% to $41.22 million. Over the same period, gold jewellery exports fell, with May shipments down 14.75% year on year to $758.44 million. The figures point to consumers opting for lower-cost alternatives such as silver, platinum and lab-grown diamonds as high gold prices and economic uncertainty reshape demand.