India still key driver of global growth: RBI guv

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Domestic gas price rises 5% amid W Asia conflict

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IPOs this week: 10 offers to hit market including Crizac and Travel Food Services; SME segment dominates listings

The Indian IPO market is set for a busy week, with ten companies launching their initial public offerings between June 30 and July 4. This includes mainboard IPOs from Crizac Limited, aiming to raise ₹860 crore, and Travel Food Services, targeting ₹2,000 crore.

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Drug labelling norms under review: Expiry date readability flagged; govt panel to examine packaging reforms

India's drug regulator is addressing consumer concerns about illegible expiry dates and glossy packaging on medicines by forming a sub-committee. This panel will revamp labeling norms, explore regulations for packaging suppliers, and assess the feasibility of voice-assisted QR codes and braille cards. The aim is to enhance accessibility, improve transparency, and ensure patient safety in drug packaging.

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Torrent in Rs 18,000 crore deal, 2nd largest in pharma sector

Torrent Pharma is set to acquire a controlling stake in JB Chemicals & Pharmaceuticals for approximately Rs 18,000 crore, marking the second-largest pharma deal in India. The acquisition involves purchasing a 46.4% stake from KKR, followed by an open offer to public shareholders. This deal will create India's second most valued pharma company, with substantial revenue and a top-five ranking.

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Paint industry trends: Fierce competition dent sales; companies eye FY26 revival

Indian paint companies like Asian Paints and Berger Paints are facing challenges due to weak urban demand and intense price competition, impacting their profit margins in FY25. Despite these headwinds, they anticipate a modest recovery in FY26, fueled by increased disposable incomes and government initiatives.

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India’s ban on Pak-origin cargo at ports triggers spike in freight costs, delays- Report

Following the Pahalgam terror attack, India's ban on ships carrying goods from or to Pakistan has significantly disrupted Pakistani trade. This ban, effective May 2025, has led to increased freight charges and longer shipping times, forcing importers to rely on feeder vessels. Indian agencies are actively enforcing the ban, seizing falsely declared Pakistani goods routed through third countries.

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G7 countries endorse 'side-by-side' system replacing top-up levies; US, UK firms exempted

G7 nations have reached a groundbreaking agreement, exempting US and British multinational corporations from key provisions of the global minimum tax through a new "side-by-side" system. This framework acknowledges existing US tax laws, allowing American firms to be taxed domestically. The move aims to provide stability and certainty in the international tax system, addressing concerns raised by businesses.

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Centre revises Waste-to-Energy guidelines to ease project approvals; slashes red tape

MNRE has revised its Waste-to-Energy Programme guidelines to simplify procedures and enhance transparency. The new framework links financial support to the actual performance of energy plants, disbursing CFA in stages based on operational milestones. These changes aim to benefit MSMEs, streamline inspections, and contribute to India's waste management and net-zero emissions goals.

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JSW to buy Dulux paints biz for Rs 9,000 crore

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Forex watch: India’s reserves fall $1 billion to $697.93 billion this week; gold and SDR values decline

India's foreign exchange reserves decreased by $1.01 billion, reaching $697.93 billion in the week ending June 20, according to RBI data. This decline reverses the previous week's increase. The drop was primarily due to decreases in foreign currency assets, which fell by $357 million, and gold reserves, which slipped by $573 million.

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S&P 500 few points away from record high it hit in February

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After jumbo cut, RBI asks banks to lower rates

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Soon FASTag may be used to buy insurance, pay challans

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Rate cut war: Donald Trump narrows choice for next US Fed chair to ‘three or four people’; calls Jerome Powell ‘terrible’

President Trump has intensified speculation about Federal Reserve leadership, calling Chair Jerome Powell "terrible" and indicating he's considering replacements. He mentioned a shortlist of three or four candidates, including Kevin Warsh and Christopher Waller. Trump's repeated criticism of Powell's interest rate policies suggests a desire for greater influence over the central bank, despite warnings about potential inflation from tariffs.

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Beleaguered Voda Idea may get relief as Scindia says duopoly in telecom ‘not good’

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Tata Motors says JLR ready for supply shocks, no US plant despite tariff hit; Avinya EVs delayed to late 2025

Tata Motors Group's JLR is navigating global supply chain disruptions, leveraging lessons from the semiconductor shortage. Despite US tariff hikes, JLR has no plans for US manufacturing, mitigating impact through market adjustments and cost management. Tata Motors remains confident about rare earth supplies and EV launch plans, while Avinya EV launch is delayed due to feasibility issues.

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Risky Strait of Hormuz: Marine insurance costs surge

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Asean not keen to review trade pact: Government

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FTAs: Goyal says India shaping free trade agreements prioritising domestic industries; addressing their 'concerns and needs'

Commerce and Industry Minister Piyush Goyal affirmed that India's free trade agreements (FTAs) prioritize domestic industry interests through extensive stakeholder consultations, carefully balancing offensive and defensive needs. He emphasized pursuing trade pacts with complementary economies, ensuring national and public interests are upheld.

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Indian auto industry chart magnet supply chain plans

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D-Street braces for 'risk-off' selloff

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Top Nuclear Power Countries: Which Countries In The World Have Nuclear Weapons? India Beats Pakistan, But Where Do US, Russia, China & Israel Rank? Check List

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Refunds, advance tax dip: Net direct mop-up down 1.4% to Rs 4.6L crore

Gross direct tax collections saw a modest increase of under 5% up to June 19, with advance tax receipts growing at a muted 3.9%, signaling potential concerns about corporate profit growth. Net direct tax collections dipped slightly due to a significant surge in refunds, reflecting the finance minister's push for quicker disbursal.

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Capillary to raise Rs 430cr via fresh issue

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Israel-Iran conflict: Government holds meet with stakeholders

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ICICI sought to acquire HDFC, reveals chairman Deepak Parekh

Deepak Parekh disclosed that Chanda Kochhar once suggested a merger between ICICI Bank and HDFC. Parekh declined the offer. He cited regulatory pressure as the main driver for HDFC's eventual merger with HDFC Bank. Parekh described the merger's conclusion as both sad and happy. He emphasized the need for larger Indian banks through acquisitions.

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Bank of England keeps interest rates steady

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Trumponomics: How US president Donald Trump triggered a financial roller coaster; shaken global markets in 5 months

Since Donald Trump's presidency began five months ago, global financial markets have experienced significant volatility. US stocks are underperforming compared to European markets, while the dollar has sharply declined against the euro. Concerns about rising US debt are growing, impacting investor confidence. Oil prices initially fell due to economic slowdown fears but have rebounded amid Middle East tensions.

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SNB report: Indian funds in Swiss banks triple to Rs 37,600 crore in 2024; individual deposits up only 11%

Indian money in Swiss banks more than tripled in 2024, reaching a three-year high of nearly Rs 37,600 crore, driven by increased funds through local branches and financial institutions. While individual deposits saw a modest rise, overall Indian-linked funds surged significantly. Switzerland emphasizes cooperation with India in curbing tax evasion through automatic exchange of information.

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HDFC Bank's chief HR officer Razdan quits after 7 years

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Air India to cut overseas flights on wide-body aircraft by 15% at least till mid-July

Air India will cut international flights using wide-body planes by 15%. This reduction is effective immediately and will last until at least mid-July. The airline cites airspace closures and enhanced checks on Boeing 787s as reasons. These factors have increased flight times and reduced aircraft availability. The airline operated 462 flights between June 2 and 17, but cancelled 83 flights.

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Sebi reforms REITs and InvITs norms to align disclosures, cut entry size; allow broader role for merchant bankers

Sebi's board has approved amendments to ease business operations for REITs, InvITs, and merchant bankers. These changes include greater cash-flow flexibility, clearer public unitholding definitions, harmonized reporting timelines, and reduced minimum investment for privately placed InvITs. Merchant bankers can now conduct certain non-Sebi-regulated financial services under the same entity, subject to regulatory safeguards, enhancing operational efficiency.

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Bomb hoax on Kochi-Delhi IndiGo flight

An IndiGo flight carrying 157 passengers from Muscat to Delhi via Kochi was forced to make an emergency landing in Nagpur following a bomb threat. The threat, received via email by Cochin airport authorities, prompted the mid-air diversion.

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Iran urges public to delete WhatsApp; claims app sends data to Israel amid conflict; company denies allegations

Iranian state television has urged citizens to delete WhatsApp, alleging data collection and sharing with Israel, claims WhatsApp vehemently denies. The messaging app emphasises its use of end-to-end encryption, ensuring user privacy and denying any data sharing with governments.

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CCI clears Delhivery’s Rs 1,400-cr acquisition of Ecom Express, 99.4% stake to give firm control, boost scale in e-commerce logistics

The Competition Commission of India (CCI) has approved Delhivery's acquisition of a 99.4% stake in Ecom Express for up to Rs 1,407 crore. This deal, announced in April, signifies a major consolidation within India's logistics sector. Delhivery aims to enhance its scale and strengthen its offerings in the competitive express parcel and e-commerce logistics segments through this acquisition.

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Dalal Street ignores Iran-Israel conflict, sensex up 678 points

Indian stock market soared on Monday. Sensex closed 678 points higher. Nifty also saw a significant rise. HDFC Bank, ICICI Bank, and Infosys led the gains. Domestic funds invested heavily, offsetting foreign fund outflows. Investors grew richer by Rs 3.3 lakh crore. A potential ceasefire between Israel and Iran may further boost the market. Gold prices fell on ceasefire news.

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Top stocks to buy today: Stock market recommendations for June 17, 2025 - check list

Stock market recommendations: Mirae Asset Sharekhan's Somil Mehta recommends buying Apollo Hospitals and Persistent. Apollo Hospitals, currently trading around Rs 7,100, is expected to reach Rs 7,545, while Persistent, near Rs 6,010, aims for Rs 6,300.

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South Delhi India's capital for FMCG consumption

West Delhi leads India in FMCG spending, averaging Rs 39,325 annually per household, while South Delhi consumes the most volume at 240kg per household. Bengaluru tops in premium FMCG product spending. Mumbai's GDSC cluster shops most frequently, though with smaller basket sizes, and both Delhi clusters favor home-cooked meals but also consume bottled soft drinks.

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Odisha mega projects: State approves Rs 1.51 lakh crore industrial push; over 62,000 jobs on the horizon

Odisha's industrial sector is set for a major boost as the state government approved eight mega projects worth Rs 1.51 lakh crore. These ventures, spanning across six districts, are expected to create over 62,000 jobs in sectors like aluminium, chemicals, and steel.

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Adani's Haifa port unaffected by Iranian missile strikes, operations normal: Sources

Despite Iranian ballistic missile attacks targeting Haifa port and a nearby oil refinery in Israel, the Adani Group-led Haifa port remained unharmed, ensuring uninterrupted cargo operations. While shrapnel fell near the port and refinery, causing no injuries, the Adani-operated port sustained no damage. Cargo operations are proceeding normally, with eight ships currently in the port.

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Nippon-US Steel deal gets Trump's nod: HQ to remain in Pittsburgh; 'golden share' gives US final say on key decisions

US Steel's collaboration with Nippon Steel has received approval after national security assurances were confirmed, retaining the "golden share" benefit. Former President Trump endorsed the partnership through an executive order, following a review by CFIUS. The agreement includes significant investments in US steelmaking and job protection.

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Global aviation forecast dips slightly: Boeing sees fleet nearing 50,000 by 2044; cites post-pandemic supply chain woes

Boeing projects a global commercial aircraft fleet of nearly 50,000 by 2044, with developing markets driving growth. Supply chain challenges have slightly reduced delivery forecasts, contributing to a potential aircraft shortage. While passenger growth outpaces GDP, new deliveries struggle to meet demand, highlighting a shift in the industry's landscape with increased representation from Asian and Middle Eastern firms.

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India-Maldives currency swap: RBI’s $400 million support lifts FX reserves; Fitch cites easing of liquidity strain in rating note

India has welcomed the Maldives' improved foreign exchange reserves, acknowledging the significant role of the $400 million currency swap between the RBI and MMA in easing liquidity pressures. Fitch Ratings recognized India's critical support in bolstering the Maldives' reserves, alongside strong tourism and new forex regulations. Despite this, the Maldives faces ongoing fiscal and external challenges.

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Defence stocks surge, airline scrips slump

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Gensol group faces insolvency over Ireda dues

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Reliance sells 3.6% stake in Asian Paints in Rs 7,700 crore deal

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Air India crash set to trigger over Rs 1,000 crore insurance claims

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Currency watch: Rupee closes flat at 85.52 vs dollar, equities crash and oil spike limit gains

The rupee marginally strengthened against the US dollar, closing at 85.52, supported by a weaker greenback and anticipation of Federal Reserve rate cuts. However, a sharp decline in domestic equities, with the Sensex and Nifty falling significantly, and rising crude oil prices, limited the rupee's gains. Foreign institutional investors also offloaded equities, further impacting market sentiment.

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Top depository NSDL looks at $400mn IPO in July

National Securities Depository is moving forward with its IPO plans, aiming to raise approximately $400 million. The offering, cleared by Sebi last October, is expected to launch as early as July. Major investors like IDBI Bank, NSE, and SBI are participating in the offer for sale, with NSDL not receiving any proceeds from the IPO.

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Govt slashes basic customs duty on crude edible oils from 20% to 10%

The government has reduced the Basic Customs Duty on crude edible oils like soybean, sunflower, and palm from 20% to 10% to control rising prices. This move widens the import duty differential, encouraging domestic refining and reducing refined oil imports. The food ministry has directed industry associations to immediately pass on the duty reductions to consumers by adjusting prices.

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JioBlackRock gets Sebi nod to launch investment advisory services, joint venture eyes digital-first strategy; Marc Pilgrem to lead India operations

Jio BlackRock Asset Management has secured regulatory approvals from SEBI and BSE to launch its investment advisory operations in India. This venture, a 50:50 partnership between Jio Financial Services and BlackRock, aims to revolutionize wealth management with a digital-first platform.

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