Shares of several Indian companies, including Ather Energy, Groww, L&T Technology Services (LTTS), and Union Bank of India, stood out on July 15 as the SENSEX and NIFTY50 indices traded largely flat during midday deals. The market’s subdued movement came despite the India-UK free trade agreement (FTA) officially coming into force, which is expected to impact various sectors positively.
Groww’s stock surged by as much as 7.77%, reaching an intraday high of ₹219.62 per share on the National Stock Exchange (NSE). This jump followed the company’s announcement of a 94.28% rise in consolidated profit after tax, which reached ₹735 crore in the June quarter of the financial year 2026-27.
How the India-UK Free Trade Agreement Influences Markets
The Comprehensive Economic and Trade Agreement (CETA) between India and the United Kingdom, signed in July 2025, came into effect on July 15, 2026. This agreement aims to eliminate tariffs on nearly 99% of Indian exports to the UK, opening up the British market to a wide array of Indian goods.
Key sectors expected to benefit include textiles, leather, pharmaceuticals, automotive components, processed foods, marine products, engineering goods, chemicals, and footwear. The agreement also promises to reduce costs on imports from the UK, such as whisky and automobiles, making them more affordable for Indian consumers.
Notable Stock Performances and Corporate Updates
- KEC International: Shares rose 5% to ₹514.40 after securing new orders worth ₹1,180 crore across transmission & distribution, renewables, civil, and cables businesses. The company’s year-to-date order intake now exceeds ₹5,200 crore.
- Tata Elxsi: The stock fell over 6% following quarterly results that showed an 18% year-on-year profit increase to ₹170 crore but a 22.58% sequential decline compared to the previous quarter.
- Ather Energy: Shares jumped 9.74% to a 52-week high of ₹1,318.90, driven by Hero MotoCorp’s ₹1,000 crore investment and the upcoming launch of an affordable electric scooter priced between ₹1 lakh and ₹1.25 lakh.
- Sun Pharma: The company gained after receiving approval to manufacture and market a generic version of semaglutide injection in South Africa, targeting treatment for type 2 diabetes.
- L&T Technology Services (LTTS): Shares climbed 9.3% to ₹3,600 following a 7.41% quarter-on-quarter profit increase to ₹357 crore and a 2.9% revenue rise to ₹2,940 crore.
- Union Bank of India: Shares rose 4% after reporting a 29.57% increase in standalone net profit to ₹5,332 crore and a 10% increase in net interest income to ₹10,037.3 crore.
- Kusumgar: The company made a strong stock market debut with shares listing at ₹569 on NSE and ₹574 on BSE, representing premiums of over 35% above the IPO price. The IPO was oversubscribed by nearly 129 times.
Why These Market Movements Matter
The flat trading of benchmark indices like SENSEX and NIFTY50 despite positive corporate earnings and the India-UK FTA signals cautious investor sentiment amid broader economic uncertainties. However, individual companies benefiting from new trade opportunities and strong quarterly results are attracting investor interest, as seen in the sharp gains of stocks like Ather Energy and Groww.
The India-UK FTA is poised to enhance trade flows and consumer choices, potentially boosting sectors such as textiles, pharmaceuticals, and automotive components. This could translate into sustained growth for companies operating in these industries, influencing market dynamics in the coming quarters.
Investors are closely watching how these developments unfold, balancing optimism about trade benefits with concerns over global economic conditions and sector-specific challenges.
Frequently Asked Questions
Q: What is the significance of the India-UK free trade agreement?
A: The agreement removes tariffs on nearly all Indian exports to the UK, opening up new markets for Indian goods and potentially lowering import costs for UK products, which can boost trade and economic growth.
Q: Why did Groww’s stock rise sharply on July 15?
A: Groww reported a nearly 94% increase in consolidated profit after tax for the June quarter, which significantly exceeded market expectations and drove the stock price higher.
Q: How is Ather Energy expanding its market presence?
A: Ather Energy is launching a new affordable electric scooter priced between ₹1 lakh and ₹1.25 lakh, supported by a ₹1,000 crore investment from Hero MotoCorp, aiming to capture a larger share of the Indian two-wheeler EV market.
