India's petroleum regulator, PNGRB, has mandated a uniform rate for piped natural gas (PNG) for all households, regardless of consumption. This directive addresses concerns that tiered pricing systems may encourage misuse of subsidized gas by commercial entities misclassified as domestic consumers.
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RBI's new directive allows banks to accept voluntary gold and silver pledges for agricultural and MSME loans up to Rs 2 lakh, even within collateral-free limits. This aims to enhance financial inclusion in rural areas where gold is a liquid asset, enabling faster loan processing and reducing reliance on informal lenders.
Wyndham Hotels & Resorts is significantly expanding its presence in India, aiming to become a top growth market with over 50 new properties planned. The company intends to introduce more of its global brands while strengthening existing ones like Ramada.
The Cabinet Committee on Economic Affairs has approved an exemption for NLC India Ltd, allowing a Rs 7,000 crore investment in its renewable energy subsidiary without prior government approval or net worth restrictions. This decision supports NLCIL's ambitious renewable energy targets of 10.11 GW by 2030 and 32 GW by 2047, aligning with India's COP26 commitments and Net Zero goals.
Blackstone has withdrawn from the consortium aiming to invest in TikTok's US operations, adding to the uncertainty surrounding the deal. The investment group, led by Susquehanna International Group and General Atlantic, was considered the front-runner to acquire majority control. The exit comes amid delays and US-China trade tensions.
India has significantly increased the flying rights for Kuwait, raising weekly seat capacity by 50% to 18,000. This agreement, signed by aviation officials from both nations, marks Kuwait's first bilateral capacity increase in 18 years. The move comes amid rising travel demand and aligns with India's policy to bolster its carriers' international presence through strategic agreements and infrastructure development.
The Union Ministry of Road Transport and Highways will change its approach. It will collaborate with states to set flexible targets for infrastructure projects. States can now choose projects based on their priorities and approvals. This aims to speed up project completion and avoid delays. The center has set targets for highway construction and asset monetization.
Despite recent market corrections, Indian equities are still among the priciest globally, with a PE ratio of 23.3, exceeding historical averages. While fundamentals remain strong, projected ROE for FY25 is 15.6%. India's dividend yield, however, is low at 1.2%, potentially limiting appeal for income investors. Nuvama cautions that high valuations and global volatility could restrain further market upside.
Silver prices soared to an unprecedented Rs 1,14,875 per kg in futures trading, fueled by robust global cues and a weakening US dollar. Simultaneously, gold futures also experienced gains, climbing to Rs 98,138 per 10 grams amid strong spot market demand.
TCS CEO K Krithivasan anticipates international revenue surpassing FY25 levels in FY26, pending trade clarity expected by late July or August. While projects with immediate ROI continue, longer-term initiatives face delays or scope reduction. The BSNL deal's wind-down impacted revenue by 2.8%. AI is driving efficiency, prompting discussions with clients about sharing productivity gains.
US wholesale inflation remained flat in June, despite concerns over President Trump's tariffs. The producer price index showed a 2.3% year-on-year increase, the smallest since September. While some sectors saw tariff impacts, like furniture, others, such as steel, defied expectations. Retailers are feeling the squeeze, and the Federal Reserve is monitoring the impact on inflation.