11:11 | Gold loans take the lead, UP makes ₹2 lakh crore AI push, and more

Good morning!

Gold loans have emerged as India's largest securitised asset class, overtaking vehicle loans, while Uttar Pradesh has cleared a new AI-ready data centre policy targeting over ₹2 lakh crore in investments. Elsewhere, Samsung shares fell despite a sharp profit surge, the rupee edged higher and a Spider-Man in Bhiwandi stepped in to help commuters navigate a flooded road.

Here are the top stories making news at 11:11 am.

A new listing is set to consider a stock split just eight days after

its debut

Shares of Waterways Leisure Tourism Ltd., which listed on the bourses on Wednesday, July 1, will be in focus on Tuesday, July 7, after the company announced its first corporate action within days of making its stock market debut.

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Samsung Electronics reports Q2 operating profit of $89 billion, higher than Nvidia in Q1; Stock falls

Shares of Samsung Electronics Co. fell as much as 6% in early trading in South Korea on Tuesday, July 7, despite its quarterly net profit surging 19x from the same quarter last year led by a relentless demand for memory chips needed in AI-led data centers.

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Gold loans are now India's largest securitised asset class: CRISIL explains why

Gold loans have become the largest securitised asset class in India during the April-June quarter of FY27, overtaking vehicle loans for the first time this financial year, according to a CRISIL Ratings report. The report showed gold loans accounted for around 31% of total securitisation volumes, ahead of vehicle loans at 26%, as overall issuances rose 22% year-on-year to about ₹60,000 crore.

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Uttar Pradesh approves AI-ready Data Center Policy 2026, eyes ₹2 lakh crore investment

The Uttar Pradesh Cabinet cleared the Uttar Pradesh Data Center Policy 2026 on Monday. Chief Minister Yogi Adityanath chaired the meeting. The policy targets investments of more than ₹2 lakh crore. It aims to add 2 GW of data centre capacity. The goal is to make Uttar Pradesh a green and AI-ready data centre hub.

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Rupee edges up to 95.33 against US dollar, but underlying weakness remains

India's rupee opened 7 paise stronger against the US dollar on Tuesday (July 7), supported by gains in most Asian currencies, although traders said the local currency continues to face underlying pressure after a sharp decline over the past week.

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Kalyan Jewellers shares fall 7% despite 38% revenue growth in Q1

Shares of Kalyan Jewellers India Ltd. fell as much as 7.5% in early trading on Tuesday, July 7, despite the jewellery retailer reported a strong business update for the June quarter.

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Anti-dumping duty: Is there a communication gap between the DGTR and CBIC

There is a growing concern in Indian industry about the opacity in the imposition of Anti-dumping duty (ADD). The general trend has been of rejecting the request and recommendation for imposition of ADD.

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This railway PSU stock surged 8% after bagging a multi-million dollar order; Details here

Shares of RITES Ltd. gained over 8% on Tuesday, July 7, after the company won an order worth $35.82 million. With this, the stock has snapped a three-day losing streak.

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Your friendly neighbourhood Spider-Man is in Bhiwandi, helping commuters cross flooded road

No swinging between skyscrapers or fighting supervillains. In Maharashtra's Bhiwandi, Spider-Man had a more pressing mission: helping commuters navigate a waterlogged road.

A local resident dressed as the Marvel superhero was seen guiding people through a flooded stretch at Vanjar Patti Naka, where water had concealed potholes and left vehicles struggling to move.

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Amit Shah announces new cooperative life insurance company: What we know so far

The government plans to set up a cooperative life insurance company to expand the cooperative sector's presence in financial services, Union Home and Cooperation Minister Amit Shah announced on Monday (July 6).

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Belgian federation to challenge FIFA's decision to let Folarin Balogun play in World Cup match

The Belgian soccer federation wants an explanation from FIFA about a decision to let US forward Folarin Balogun play at the World Cup despite getting a red card in his previous game.

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