News Nook: Jun 8, 2025

 Indian Sector Specific News:

A) BFSI:

1) Markets Rally on RBI Rate Cut Boost

• Indian stock markets ended the week higher after the RBI’s surprise 50 bps rate cut, with Nifty up 1% at 25,003 and Sensex rising 747 points to 82,189.
• Rate-sensitive sectors like banks, NBFCs, and real estate led the gains; Nifty Realty jumped 5%, and midcaps outperformed with over 3% weekly gain.
• Source: CNBCTV-18

2) SEBI Freezes Mehul Choksi’s Accounts to Recover Insider Trading Dues

• SEBI has attached Mehul Choksi’s bank, demat, and mutual fund accounts to recover ₹2.1 crore linked to a 2022 insider trading case in Gitanjali Gems.
• Choksi, already facing fraud charges in the ₹14,000 crore PNB scam, failed to pay the penalty and interest despite repeated notices from SEBI.
• Source: Livemint

3) SEBI Extends Liquidation Timeline for Migrating VCFs

• SEBI has extended the extra liquidation period for venture capital funds (VCFs) migrating to AIF rules by one year, now up to July 19, 2026.
• This move is aimed at easing the transition process for VCFs becoming Category I AIFs, based on industry feedback.
• Source: Business Standard

B) Automobile:

1) Auto Sales Grow on Rural Demand, But Car Sales Fall

• Auto sales went up 5% in May 2025 because of strong rural demand, weddings, and harvest season.
• Car sales fell 3% due to India-Pakistan tensions and fewer buyers in border states.
• Source: Business Standard

2) RBI Rate Cut to Help Auto Sector

• A 50 basis point cut in the RBI repo rate to 5.5% will make vehicle loans cheaper and improve buyer sentiment.
• Industry bodies SIAM and ACMA expect this to boost demand and reduce borrowing costs for consumers and businesses.
• Source: Economic Times

C) Telecommunication:

1) Starlink Gets Telecom Licence in India, Nears Service Launch

• Elon Musk’s Starlink has received a key telecom licence from India’s Ministry of Telecommunications, making it the third firm after OneWeb and Reliance Jio to move toward satellite internet services.
• The company still needs approvals from IN-SPACe, spectrum allocation, and local ground infrastructure to start operations.
• Source: CNBCTV-18

D) Energy:

1) GAIL Sells LNG Cargo Amid Weak Power Demand Due to Early Monsoons

• India’s GAIL has sold a liquefied natural gas (LNG) cargo as early monsoon rains led to a drop in power demand, reducing the need for gas-fired electricity.
• The seasonal dip in electricity use has impacted gas utilities' short-term plans, prompting GAIL to offload excess cargo.
• Source: The Economic Times

2) Azad Engineering Shares Crash 11% After 48 Lakh Shares Sold in Block Deal

• Shares of defence OEM Azad Engineering fell 11% after 48 lakh shares (7.4% equity) worth ₹780 crore were offloaded via a block deal at ₹1,640 apiece—6.4% below the previous close.
• The stock, now trading at ₹1,617, is down over 22% from its 52-week high and has lost 8.3% in the past six months.
• Source: Trade Brains

3) MCX Gets SEBI Approval to Launch Electricity Derivatives

• MCX has received approval from SEBI to introduce electricity derivatives, enabling market participants to hedge against power price volatility.
• This move aims to deepen the energy derivatives market and offer new risk management tools for power companies and traders.
• Source: Economic Times

E) Agriculture:

1) India Develops World's First Genome-Edited Rice Varieties

• India has created two new rice types (Pusa DST Rice 1 and DRR Rice 100) that grow more, use less water, and handle tough weather better.
• These rice types were made using advanced gene-editing without adding foreign DNA.
• Source: Ministry of Agriculture

F) Infrastructure:

1) RBI Rate Cut to Help Make Mid-Segment Homes More Affordable

• Real estate leaders say RBI’s rate cut will reduce home loan interest rates, making mid-range homes easier to buy in big cities.
• This move is expected to increase housing demand and benefit both buyers and developers.
• Source: ANI News

 Indian Economy and Government Initiatives:

• RBI’s Monetary Policy Committee cut the repo rate by 50 basis points to 5.5% to support growth amid falling inflation.
• The government emphasized its focus on the middle class with tax relief for incomes up to ₹12 lakh, a new pension scheme for 2.3 million employees, and major progress under the Smart Cities Mission.

 Bonus Briefs:

• Trump and Xi Jinping have agreed to resume trade talks after a long pause, easing some recent US-China tensions.
• Oil prices fell by 1% as US fuel stockpiles rose sharply despite a crude draw due to high refinery demand.