Indian Sector Specific News:
A) BFSI:
1) FSIB to Begin Selection for GIC Re CMD Post
- FSIB is set to initiate the process to select a new chairman and managing director for GIC Re as N Ramaswamy's term ends in September.
- Senior GIC officials and executives from other state-owned insurers are likely to be interviewed.
- Source: The Economic Times
2) BFSI Sector Leads Corporate Profit-to-GDP in FY25
- The BFSI sector contributed 1.84% to India’s GDP in FY25, helping Nifty-500 profit-to-GDP ratio hit a 17-year high of 4.7%.
- Strong earnings from PSBs, private firms, MNCs, and mid- to small-cap financials fueled the sector’s dominance amid global headwinds.
- Source: BW Online Bureau
B) Automobile:
1) Maruti Denies Disruption Amid Rare Earth Magnet Crisis
- Maruti Suzuki’s operations remain unaffected, though e Vitara EV production for H1 FY26 will be lower due to rare earth magnet shortages.
- The company plans to ramp up production in H2 FY26 to meet its 67,000-unit annual target for the e Vitara, which will be sold in India and exported globally.
- Source: Moneycontrol
C) Pharma:
1) Jubilant Pharmova to Transfer API Business to Subsidiary
- Jubilant Pharmova’s board has approved the slump sale of its API business to wholly-owned subsidiary Jubilant Biosys.
- The API division posted ₹609 crore in revenue in FY25, contributing over 8% to consolidated sales and 10.68% to net worth.
- Source: CNBC-TV18
2) Sigachi Industries to Set Up New API Facility in Andhra Pradesh
- Sigachi Industries is establishing a bulk drugs and specialty chemicals unit in Orvakal, Andhra Pradesh, as part of its vertical integration strategy.
- The facility and upcoming R&D centre in Hyderabad will enhance API development, accelerate commercialization, and support global regulatory alignment.
- Source: Biospectrum India
D) Telecommunication:
1) India Leads AI-Native Telecom Shift, Aims for ITU Leadership
- India hosted the 3rd ITU-T FG-AINN meeting, spotlighting its drive to embed AI into global telecom infrastructure.
- Key initiatives include 'Bharat Gen' and AI-led telecom automation by IITs and CDOT, reinforcing India’s push for ethical, inclusive AI and digital sovereignty.
- Source: Adgully Bureau
2) DoT Eases Prepaid-Postpaid Switch with OTP-Based Rule
- Mobile users can now switch between prepaid and postpaid plans in just 30 days using OTP-based KYC, down from the earlier 90-day wait.
- The relaxed rule applies only to first-time conversions; repeat switches via OTP require a 90-day gap, unless done through full KYC at authorised outlets.
- Source: India TV
E) Energy:
1) India’s Oil & Gas Infrastructure Sees Major Boost, Says Minister Puri
- Over the past 11 years, India has built 23 modern refineries (257 MMT/year capacity), extended PNG to 733 districts, and established 8,000 CNG stations.
- Strategic reserves at Pudur, Vizag, and Mangalore, with a new facility at Chandikhol, bolster energy security.
- E20 petrol rollout and 106 CBG plants (625 TPD capacity) further the green transition; 16,000 skilled professionals trained via PSUs’ initiatives.
- Source: Economic Times
2) India’s Oil & Gas Infrastructure Boosts Energy Security
- India built more refineries, gas pipelines, and fuel stations in the last 11 years to meet growing energy needs.
- Cleaner fuels like ethanol-blended petrol and CNG are now used more widely across the country.
- Source: The Economic Times
F) Agriculture:
1) ‘Viksit Krishi Sankalp Abhiyan’ Concludes After 15-Day Nationwide Outreach
- Over 55,000 programs were held across 1 lakh+ villages, reaching more than 1.12 crore farmers with support for natural farming and agri-value addition.
- Union Agriculture Minister Shivraj Singh Chouhan praised Gujarat's leadership in castor, cumin, fennel, dates, and food processing, setting a 7.5 lakh hectare natural farming target.
- Source: Press Information Bureau
G) IT:
1) Bengaluru Tech Salary Debate Goes Viral
- People online say earning ₹1 crore a year is becoming normal in Bengaluru due to high costs and peer pressure.
- Many believe even ₹50LPA feels like less now, as the city has over 1 million tech workers and rising expenses.
- Source: Business Today
Indian Economy and Government Initiatives:
- Despite being the world’s 4th largest economy, India faces stark inequality—top 1% hold over 40% of wealth, while most people earn under ₹5,600/month. True progress demands inclusive growth—through jobs, social welfare, gender equity, and equal access to basic services for all regions and groups.
- RBI has allowed STRIPS trading for state government bonds, letting principal and interest be traded separately to improve market liquidity and investor flexibility.
- Indian stock markets fell sharply as tensions flared between Israel and Iran, raising fears of prolonged Middle East conflict and global instability.
- Crude oil prices jumped over 10%, stoking inflation worries for India—a major oil importer—while the rupee weakened past 86/USD, further hitting investor confidence.
- Investors shifted to safer assets like gold, US bonds, and the dollar, causing a selloff in equities and adding to market pressure.
- Global stock markets slipped as escalating U.S.-China trade tensions and ongoing Middle East conflicts heightened investor anxiety, triggering risk-off sentiment.
- Concerns over rising oil prices and tariff uncertainty further pressured equities, while the dollar weakened amid shifting capital to safe-haven assets.
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