Sebi has approved IPOs for six companies, including HDB Financial Services and Vikram Solar. HDB Financial Services plans to raise funds through a fresh issue and offer-for-sale, while Vikram Solar's IPO includes a fresh issue and an offer-for-sale by promoters. The funds raised will support business growth and capital requirements, with shares to be listed on BSE and NSE.
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President Trump signed executive orders to bolster drone security, promote air technologies like electric air taxis and supersonic aircraft, and reduce reliance on Chinese drone manufacturers. A federal task force will enhance airspace protection and counter-drone capabilities. The FAA is instructed to remove the ban on overland supersonic transport, contingent on preventing sonic booms on the ground.
India's Ministry of Heavy Industries has launched the “Scheme to Promote Manufacturing of Electric Passenger Cars in India” (SPMEPCI) to attract EV manufacturing investments. The scheme offers reduced customs duties on imported EVs for approved applicants who meet minimum investment and localization targets.
A public feud between Trump and Musk triggered a significant drop in Tesla shares, impacting major US indexes like the S&P 500 and Nasdaq 100. Tesla's decline highlighted concerns about index concentration in large-cap stocks, particularly the 'Magnificent Seven,' and its wide market exposure through numerous ETFs, affecting funds like the Consumer Discretionary Select Sector SPDR Fund.
The Centre has increased financial thresholds for scientific equipment procurement by research institutions, as per revised General Financial Rules. Vice-chancellors and directors can now directly procure instruments up to Rs 2 lakh, while purchase committees can approve up to Rs 25 lakh. Senior authorities can also approve global tenders up to Rs 200 crore, streamlining processes and fostering innovation.
Disney is implementing further job cuts across its film and television divisions, impacting marketing, publicity, and other departments, as part of ongoing cost-cutting measures initiated by CEO Bob Iger. Despite these reductions, Disney reported a revenue increase and a rise in Disney+ subscribers, reflecting the company's adaptation to the evolving digital landscape.
Hyundai Motor Company fully exited Ola Electric Mobility, selling its 2.47% stake for Rs 552 crore. Kia Corporation also divested a 0.62% stake for Rs 137.35 crore. Citigroup Global Markets Mauritius acquired a 1.95% stake for Rs 435.47 crore, leading to a fall in Ola Electric's stock price amidst reported net losses.
Starting July 2025, the GST Network will time-bar GST returns after three years from the due date, impacting filings like GSTR-1 and GSTR-3B. Implemented from August 2025, this measure, stemming from the Finance Act, 2023, aims to improve compliance and clear backlogs.
Airbus reports IndiGo and Air India are among its top three global customers with substantial aircraft backlogs. While facing delivery delays, Airbus sees supply chain stability returning, aiming to increase A320 production.
The Trump administration's doubling of import duties on steel and aluminum is poised to negatively impact India's export demand, compelling companies to explore alternative markets. US importers are slowing orders due to increased costs, potentially hindering American firms' production and reducing input demand. India's steel and aluminum exports to the US, valued at $6.2 billion and $0.
The Central Consumer Protection Authority (CCPA) has mandated e-commerce platforms in India to conduct self-audits within three months to detect and eliminate deceptive "dark patterns." This initiative aims to protect consumers from manipulative interface designs that lead to unintended actions. Platforms are also encouraged to submit self-declarations confirming compliance with anti-dark-pattern norms to foster transparency and build consumer trust.