Indian markets are poised for an upswing, fueled by the RBI's significant rate cut and optimism surrounding a potential US-India trade agreement. Investors will closely monitor inflation data, monsoon progress, and global trade discussions. However, global headwinds, including potential shifts in US tariffs and geopolitical tensions, could induce market volatility.
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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.
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.
The OECD projects a U.S. economic slowdown to 1.6% in 2025, down from 2.8% in 2024, attributing it largely to President Trump's tariff policies disrupting global trade. These measures have increased U.S. tariff rates significantly, impacting business and consumer confidence. The global economy also faces strain, with growth expected to drop.
Zoho cofounder Sridhar Vembu argues that the primary concern with AI and automation isn't job loss, but equitable wealth distribution. He envisions two potential solutions: drastically reduced costs of goods or increased compensation for human-centric roles. Vembu stresses the importance of regulatory oversight to prevent monopolies and ensure automation benefits are widely shared.
Economist S Mahendra Dev assumes the role of Chairman of the Economic Advisory Council to the Prime Minister (EAC-PM), filling the vacancy since November. The council has been reconstituted for two years, retaining full-time members and inducting new part-time members. Dev, a development economist, brings extensive experience from academia and the financial sector.
Starting July 2025, the GSTN will make the GSTR-3B form non-editable to enhance consistency and reduce revenue leakages. Taxpayers must use GSTR-1A to amend outward supplies before filing GSTR-3B. This shift requires businesses to ensure real-time reconciliation and error correction, placing greater responsibility on internal controls.
WestBridge Capital divested a 12.4% stake in Aptus Value Housing Finance for Rs 1,906 crore through an open market transaction via WestBridge Crossover Fund LLC. The sale reduced WestBridge Capital’s holding to 16.19%. SBI Mutual Fund, Axis Mutual Fund, Morgan Stanley Asia Singapore, and Eastbridge Group collectively acquired a 3.35% stake for Rs 514.64 crore. Aptus Value Housing Finance shares closed 9.
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.
Vedanta Ltd is poised to raise up to Rs 5,000 crore through private placement of secured non-convertible debentures (NCDs). The offering, with staggered maturities, features a coupon of around 9.35%-9.45%, higher than sovereign bond yields. Proceeds will be used for debt repayment and capital expenditure. Anchor investors include prominent mutual funds and insurance companies.
The Indian government has reduced the basic customs duty on crude edible oils to 10%, a move lauded by SEA and IVPA. This aims to support domestic refiners by discouraging refined palmolien imports. The decision widens the duty gap between crude and refined oils, potentially lowering domestic prices and benefiting consumers.