Other key companies scheduled to report their earnings include Shriram Finance, ACC, Bank of Baroda, Bank of India, Shakti Pumps, Concor, CreditAccess Grameen, Jindal Steel, Kfin Technologies, Jindal Hotels, Laurus Labs, Lodha Developers, SBI Cards, SAIL, Ramkrishna Forgings, Welspun Corp and Sterlite Technologies.

Today, the market is reacting to IT major Infosys’ Q1 results. Shares dropped 3% after a host of global brokerages issued bearish calls on the stock after the company trimmed the upper end of its revenue growth guidance to 1.5%-3% in constant currency, while maintaining its operating margin outlook at 20-22%.

Meesho dropped as much as 5%to their day’s low of Rs 181.30 on Friday after announcing that it expects on-year growth in net merchandise value (NMV) to dip in the July-September quarter, and plans to increase spending on acquiring new users as it builds up to the festive season.

Market outlook

Wall Street major Goldman Sachs sees the Nifty 50 rebounding to 26,500 by June 2027, a level above its current record high of 26,373, as it turns more constructive on India following an improvement in the recent macro backdrop.

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The brokerage said lower commodity prices, a stabilised currency, resilient domestic growth, healthy second-quarter earnings expectations and the potential recovery in select domestic sectors have improved the outlook for Indian equities.
Goldman Sachs expects a shift in market leadership in the second half of the year, with investors rotating from growth stocks to value plays. The brokerage said valuation de-rating weighed on market returns in the first half amid concerns over an economic slowdown, while growth stocks outperformed because of the scarcity of earnings.
Looking ahead, it expects investors to increasingly favour reasonably valued segments as expectations of an economic recovery improve. Goldman Sachs also believes that as foreign outflows reverse in the second half, the biggest beneficiaries are likely to be the most-sold and attractively valued pockets of the market, particularly large-cap stocks and banks.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

The Welsh Retail Consortium has released footfall figures for June

Welsh retail footfall fell in June but not as steeply as May shows new research from the Welsh Retail Consortium.

Year-on-year the number of shoppers on the high street, retail parks and shopping centres was down 2.3% on June last year – compared to a 5% fall in May.

England experienced a 4.3% fall and Northern Ireland 0.9%. The only UK nation or region to experience a rise in footfall was Scotland, up 1.7%. The biggest year-on-year decline was in London, down 6.8%.

Of the 11 core UK cities the biggest fall was in Liverpool, down 9%, while Glasgow was up 6.1%. The only other city to experience a rise was Manchester, with 1%. Year-on-year footfall in Cardiff declined by 3.9%, although an improvement on the 6.9% fall in May.

Welsh shopping centre footfall decreased by 3.5% in June with retail park footfall decreasing by 0.9%.

Sara Jones, head of the Welsh Retail Consortium, said; “June brought some much-needed relief for Welsh retail destinations, with the pace of footfall decline easing after a difficult May. Welsh footfall was down 2.3% year-on-year, compared with a 5.0% fall the previous month.

“Warmer weather, events, and the start of the summer trading period encouraged more shoppers back onto high streets and into retail destinations, but this is recovery is in fragile form, not a full rebound.

“The direction of travel is better, but shopper numbers remain down year on year and retailers are under relentless pressure from rising costs and squeezed household budgets. If Wales wants thriving town and city centres, retail needs action, not warm words: lower cost burdens, stronger investment support, better high street access, and a clear plan.

“With the new Welsh Government’s encouraging commitment to a town centre task force, retailers are ready to work with decision makers, but their voices must be heard and real change must follow. We now look forward to seeing how government turns that commitment into progress over the coming months.”

FOOTFALL BY NATION AND REGION

GROWTH RANK

NATION AND REGION

Jun-26

May-26

1

Scotland

1.7%

0.4%

2

Northern Ireland

-0.9%

-1.0%

3

North East England

-1.3%

-3.4%

4

North West England

-2.2%

-5.0%

5

Wales

-2.3%

-5.0%

6

Yorkshire and the Humber

-2.4%

-3.7%

6

East of England

-3.1%

-1.5%

8

West Midlands

-3.8%

-2.5%

9

East Midlands

-4.1%

-3.0%

10

South West England

-4.1%

-5.3%

11

England

-4.3%

-3.0%

11

South East England

-5.9%

-4.4%

13

London

-6.8%

0.0%

TOTAL FOOTFALL BY CITY

GROWTH RANK

CITY

Jun-26

May-26

1

Glasgow

6.1%

-0.6%

2

Manchester

1.0%

-3.3%

3

Edinburgh

0.0%

2.5%

4

Sheffield

0.0%

-1.8%

5

Belfast

-1.9%

0.1%

6

Leeds

-2.8%

-2.8%

7

Bristol

-2.9%

-3.3%

8

Cardiff

-3.9%

-6.9%

8

Birmingham

-4.1%

-1.6%

10

London

-6.8%

0.0%

11

Liverpool

-9.0%

-9.4%

Andy Sumpter, retail consultant with Sensormatic, which conducted the research, said: “June saw an improved performance for Welsh retail, with footfall down 2.3% year-on-year, marking the second strongest month of 2026 so far. As we pass the halfway point of the year, this brings the year-to-date figure to -4.4%, highlighting that while challenges remain, there are signs of stabilisation compared to earlier in the year.

“As elsewhere in the UK, exceptionally high temperatures are likely to have influenced behaviour. Wales recorded its hottest June day on record, which may have discouraged shopping trips and shifted activity towards leisure or local destinations. At the same time, consumer confidence is improving slightly but remains subdued, with wider uncertainty continuing to weigh on discretionary spend.

“Shopping patterns also reflect a more cautious and deliberate consumer. While fewer trips are being made overall, those that do take place appear more purposeful. As we move into the second half of the year, retailers will be looking to build on June’s relative improvement by converting more deliberate visits into meaningful spend.”

For the survey footfall is defined by anyone entering a shop.

Jobs in Wales will be cut as part the restructuring

British Gas owner Centrica has announced that it will be cutting around 1,300 jobs including within call centres in Wales. The job cuts come as the company recorded an earnings decrease in its half-year report.

The workforce reduction totals around 14% of the customer operations team as Centrica announced a ‘customer service transformation’ scheme last month. Five hundred call centre roles will be cut including many in Cardiff as well as in Glasgow, Edinburgh, Leicester, Stockport and Leeds.

A further 800 roles are being cut from support functions across the business.

A spokesman for Centrica said: “We have been transforming the business for a number of years to ensure we have the right roles in the right places for the future. This means making changes to improve efficiency, drive commercial performance and give our customers the service they want.

“At the same time, we continue to invest in the skills where there is demand, including recruiting more engineers to meet growing demand and hiring 500 apprentices this year alone.”

The GMB union has made accusations that the 500 call centre roles being cut will be replaced by AI technology, however Centrica has called these claims “simply wrong”.

Charlotte Brumpton-Childs, GMB national secretary, said: “It’s an absolute disgrace British Gas is slashing hundreds of human jobs and giving them to chatbots.

“These staff are massively overworked and underpaid, yet do their level best to keep customers happy. Now, instead of being rewarded, they’re being replaced by artificial intelligence.”