Market & Finance
The article highlights key financial developments. Gold prices climbed to Rs 1,00,620, while silver also surged. IDBI stake sale is likely this fiscal
year. Moreover, India needs USD 467 billion in climate finance by 2030. The RBI reviews the 4% inflation target, inviting public feedback, indicating the financial landscape's dynamism.
Corporate Actions Unfold
Major corporate events were announced. Wipro acquired HARMAN's DTS for $375M. Hindalco expanded its smelting capacity. Vedanta announced a Rs 16 dividend, and Kalpataru Ltd cut its debt by 15% in the June quarter. These reflect diverse strategic initiatives, signaling growth and restructuring across industries, with Foxconn also appointing Robert Wu as India head.
IPO Frenzy & Funds
Several IPOs garnered attention. Gem Aromatics' IPO was subscribed 30.27 times, and Vikram Solar's IPO was subscribed 54.63 times. Patel Retail's IPO was subscribed 95.70 times, and Shreeji Shipping was subscribed 58x! Also, Avanse Financial Services raised $200M ECB, showing investor confidence and strong market interest in new offerings.
Policy & Infrastructure
Significant policy and infrastructure updates also featured. The MCA simplified processes for fast-track mergers. IBBI's chief mentioned faster resolution through IBC amendments. BSNL's capex of Rs 6,982 Cr was approved for 2025. GMR Airports plans to raise Rs 5,000 crore. These steps aim to streamline operations and boost growth.
Sectoral Developments
Various sectors experienced significant events. TVS launched an electric cargo 3-wheeler. Zupee stopped paid games, while free Ludo remained online. India shipped Garhwali apples to Dubai. The FSSAI seized adulterated ghee in Gujarat. Also, IHCL redeveloping Kolkata's Chotelal Ki Ghat, representing expansions and evolving trends across different industries.
