Indian Sector Specific News:
A) BFSI:
1) Mahindra Manulife MF Launches Banking & Financial Services Sectoral Fund
- Mahindra Manulife Mutual Fund has launched an open-ended equity scheme focused on the BFSI sector, with the NFO running from June 27 to July 11, and reopening for regular transactions from July 21.
- The fund will invest in banks, insurance firms, fintechs, AMCs, and other financial services companies, aiming to capitalize on India’s structural growth in financialisation and digital adoption.
- Source: CNBC-TV18
2) HDB Financial’s ₹12,500 Cr IPO Tests Market Amid Mega IPO Skepticism
- HDB Financial Services has launched a ₹12,500 crore IPO, backed by HDFC Bank, aiming to reduce promoter holding; the issue is priced at ₹700–₹740 per share.
- Despite HDFC’s strong reputation and positive analyst outlook, concerns persist around the historical underperformance of mega IPOs, with the last eight such issues averaging -25% returns after one year.
- Source: Mint
3) NSE to Pay ₹600 Cr More to SEBI Ahead of IPO, Files Settlement in Co-location Case
- NSE has filed a settlement application with SEBI for the co-location and dark fiber cases, agreeing to pay a total of ₹1,400 crore; ₹800 crore already lies with SEBI, while an additional ₹600 crore will be paid before its upcoming IPO.
- The move follows prolonged negotiations and aims to resolve regulatory overhang before NSE’s anticipated IPO filing by July-end and possible listing by Q4FY26.
- Source: Moneycontrol
4) SEBI Fines BSE ₹25 Lakh for Systemic Lapses in Data Access and Oversight
- SEBI has imposed a ₹25 lakh penalty on BSE after discovering that, between Feb 2021 and Sept 2022, BSE’s system allowed paid clients to access unpublished price-sensitive information ahead of others.
- The penalty also addresses lapses in client code modification oversight, reflecting broader concerns over fair access and governance at the exchange.
- Source: Report by S N Thyagarajan
B) Automobile:
1) Mahindra Teases Smarter Scorpio N with ADAS Level 2
- Mahindra is set to introduce ADAS Level 2 features in the Scorpio N, including Lane Keep Assist, Adaptive Cruise Control, and Automatic Emergency Braking, likely in a new top-end variant.
- Additional upgrades expected are a panoramic sunroof, ventilated front seats, and a 360-degree camera, while engine options and interior layout remain unchanged.
- Source: Zee Business
C) Pharma:
1) PLI Scheme Review: Goyal Pushes for Self-Reliance, Quality Skilling & Export Growth
- At a PLI review meeting, Union Minister Piyush Goyal emphasized sector-specific self-reliance, export competitiveness, and quality-focused skilling, urging ministries to create a 5-year investment and disbursement roadmap.
- With ₹1.76 lakh crore in investments and over ₹16.5 lakh crore in production, PLI has significantly boosted domestic manufacturing across 14 sectors, notably pharma, food processing, and textiles, generating over 12 lakh jobs till March 2025.
- Source: PIB Delhi
D) Agriculture:
1) China Halts Specialty Fertilizer Exports to India, Raising Crop Yield Concerns
- China has effectively blocked specialty fertilizer shipments to India through procedural delays, impacting India's horticulture sector as nearly 80% of such imports come from China; exports to other nations continue.
- The move, driven by strained diplomatic ties, threatens crop yields and supply chains, but may accelerate local manufacturing initiatives in a market projected to cross $1 billion by 2029.
- Source: Times Of India
E) Energy:
1) Adani Total Gas, Jio-bp Team Up to Cross-Offer Fuels at Select Retail Outlets
- Adani Total Gas Ltd and Reliance’s Jio-bp have partnered to offer each other’s fuels at select outlets—Jio-bp’s petrol/diesel at ATGL stations and ATGL’s CNG at Jio-bp outlets within designated Geographical Areas.
- The alliance boosts their presence in India’s $150 billion fuel retail market and marks their second collaboration, aiming to enhance customer experience through shared infrastructure and wider product access.
- Source: Economic Times
2) India Unlocks 1 Million Sq. Km for Oil & Gas Exploration to Boost Energy Security
- In a major push for energy self-reliance, India has opened up 1 million sq. km of its sedimentary basin—previously marked as ‘No-Go’—for oil and gas exploration, under the Open Acreage Licensing Policy (OALP).
- The OALP-X round, India’s largest yet, offers 25 blocks across 13 basins, aiming to attract global players through policy reforms and diversified geological prospects.
- Source: Chemin Digest
F) FMCG:
1) Falling Commodity Prices Likely to Lift FMCG Company Profits: Report
- A recent report suggests that declining commodity prices are expected to enhance profit margins for FMCG companies, easing input cost pressures and improving earnings outlook in upcoming quarters.
- The benefit is likely to reflect across product categories such as packaged foods, personal care, and home care, with companies focusing on volume-led growth and rural demand recovery.
- Source: ANI News
Indian Economy and Government Initiatives:
- India's tariff strategy has evolved into a proactive tool to boost domestic manufacturing, reduce import dependency, and respond swiftly to global trade dynamics. With rising use of digital customs systems, targeted sectoral incentives like the PLI and ECMS, and strategic port-led initiatives, India is integrating trade policy directly into its industrial growth agenda.
Indian Stock Market Update:
- Sensex surged 1,000 pts and Nifty reclaimed 25,500, led by gains in metals, financials, and energy on monthly expiry day.
- Shriram Finance, Hindalco, Jio Financial, Adani Ports led gains; Dr. Reddy’s, Tech Mahindra, Hero MotoCorp were among top losers.
- Nifty eyes new highs near 25,700–25,800; Religare expects continued momentum led by banking, auto, and realty sectors.
Bonus Briefs:
- Oil prices remain volatile due to Middle East tensions, but Invesco notes no fundamental supply disruption to justify a sustained rise.
- Tesla's EU sales dropped in May despite broader EV market growth; Eurostar services faced disruption due to a reported cable theft.
- Trump’s proposed tariffs put pressure on global trade partners to finalise deals before looming deadlines, heightening market uncertainty.
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