Market Focus Shifts to Reliance, Banking Giants, and NBFCs Amid Debt and Expansion Updates

Reliance Industries Limited reported gross debt of Rs 3.47 lakh crore ($40.7 billion) and net debt of Rs 1.17 lakh crore ($13.7 billion) for FY25, reflecting a capital-intensive operational model despite robust internal cash flow. The figures mark an increase from FY24's Rs 3.24 lakh crore gross debt, underscoring the conglomerate's Leveraged growth strategy.

Mahindra & Mahindra has signaled expansion plans with a letter of interest for 350 acres in Maharashtra's Igatpuri region, reinforcing its existing manufacturing ecosystem. The MOVE aligns with India's broader industrial growth narrative.

S&P Global upgraded credit ratings for seven major Indian banks—including State Bank of India, HDFC Bank, and ICICI Bank—alongside three NBFCs. The recalibration is poised to reduce borrowing costs and catalyze capital inflows, potentially influencing institutional crypto adoption as traditional finance converges with digital asset markets.