Finance minister Nirmala Sitharaman emphasized that embracing rapid technological advancements can significantly boost economic productivity, a primary goal for policymakers. Speaking at the Institute of Economic Growth, she highlighted the increased focus on capital expenditure post-Covid, with states recognizing its growth-enhancing multiplier effect.
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The Supreme Court has admitted appeals from Byju's promoters and BCCI regarding the edtech firm's insolvency proceedings. These appeals challenge the NCLAT's refusal to allow insolvency withdrawal, citing a pre-CoC settlement of Rs 158 crore. The promoters argue the settlement was reached before the committee of creditors was formed, seeking to halt the CIRP.
Britain plans a significant boost to its defence industry. The government will invest £1.5 billion in new weapons factories. This aims to increase production capacity. The move comes ahead of a major defence review. The review will address the threats from Russia, China, Iran and North Korea. The UK also plans to increase defence spending to 3% of GDP.
Maruti Suzuki reports that its production remains unaffected by China's rare earth magnet export restrictions, crucial for vehicle components. The company has applied for import permits and is engaging with the government to understand the new regulations' impact.
India Energy Storage Week (IESW) 2025, scheduled for July 8-10 in New Delhi, anticipates over Rs 8,000 crore in investments across energy storage, electric mobility, and green hydrogen. Organized by IESA, the event expects participation from international delegates and aims to foster business deals and collaborations. This will accelerate India's clean energy manufacturing ambitions, supported by state and central ministries.
India's agricultural sector has undergone a significant transformation in the last 11 years, driven by increased budgetary support and policy focus. The government reports substantial growth in foodgrain output, rising MSP for key crops, and significant disbursements under PM-KISAN. Crop procurement volumes have also seen a sharp increase, positioning India towards global agricultural leadership.
Tata Sons' board has cleared company secretary Suprakash Mukhopadhyay of any ethical violations after reviewing an internal probe into his ties with Divinion, a family-owned financial firm. While Mukhopadhyay failed to disclose his connection, the board concluded there was no intentional breach of conduct. Concerns arose over potential conflicts of interest, given Divinion's links to current and former Tata employees.
Reliance Infrastructure received a reprieve as the NCLAT stayed insolvency proceedings initiated against it. This followed an appeal against the NCLT Mumbai's order admitting an insolvency plea by IDBI Trusteeship Services. Reliance Infra contended that the full amount of Rs 92.68 crore, related to Dhursar Solar Power's tariff claims, had already been paid.
US stocks edged higher amid trade policy uncertainty, with the S&P 500 nearing its all-time high. Dollar General surged on strong earnings, while the OECD downgraded the US economic growth forecast. Investors are anticipating potential US-China trade talks, and new labor data indicated continued strength in hiring, preceding Friday's employment report.
MRF is now India's most expensive stock. It overtakes Elcid Investments, whose shares have fallen from a high in November 2024. Elcid's decline is linked to a drop in Asian Paints' stock value. MRF's success is due to strong financial results. The company reported higher profits and revenue for the March 2025 quarter.
Jefferies reports a positive outlook for Indian bonds due to falling inflation and anticipated RBI rate cuts. India's 10-year government bond has significantly outperformed US Treasuries. Global investors are increasingly drawn to Indian bonds, seeking higher yields and stability amidst a shift away from G7 debt, signaling confidence in the Indian market.