Bullets

Life insurance giant LIC is considering entering the health insurance market in India. Currently, LIC can only offer limited health benefits.

This comes as the government weighs allowing insurers to offer both life and health insurance (composite licences).

As other players such as Bajaj Allianz provide both services, the competition is bound to shake if LIC enters the health business.

Adani Group is on the move! After overcoming the Hindenburg crisis, they're looking to raise ₹16,600 crore through share issuance.

But their ambitions go beyond traditional business. Adani Group is reportedly planning to enter the e-commerce & payments space, potentially rivalling giants like Google and Reliance.

This could involve getting a UPI licence and launching an Adani credit card. A big revolution is on the horizon soon.

Hyundai opened its first fast-charging EV station in Chennai, Tamil Nadu, India. This 180 kW DC station can charge any compatible four-wheeler EV and is part of Hyundai's plan to install 100 such stations across the state.

EV owners can use the myHyundai App to find, navigate to, and pre-book charging slots, as well as make digital payments & monitor charging status remotely.

This is Hyundai's attempt to keep pace with other automotive companies in India. Whether it will be successful remains to be seen.

Also Read: Mahindra & Mahindra Plan to ₹37,000 Crore Plan to Defeat Competition.

PhonePe and BharatPe, locked in a trademark battle over "Pe" for five years, have finally settled! Both companies have withdrawn legal challenges, paving the way for individual trademark registrations.

The dispute began in 2018 when PhonePe objected to BharatPe's use of "Pe" in Devanagari. This war extended to PhonePe challenging BharatPe's "PostPe" service in 2021, but that lawsuit was dismissed.

This settlement marks an amicable end to a long-standing legal fight.

Also Read: Is Bad Blood with Ashneer Grover Destroying BharatPe?

Indian stock markets hit new highs on Monday, following gains in Asia. The Sensex reached a record high of 75,679, while the Nifty50 climbed to 23,043.

Adani Ports jumped 3% after replacing Wipro in the Sensex. Divi's Laboratories surged over 5% on strong earnings.

Financial and metal stocks led the surge. Real estate, banking, and other sectors also rose.

Reliance Industries (RIL) seeks approval for an $8.5 billion (₹70,550 crore) merger of its Viacom18 with Star India, owned by Disney.

If Competition Commission of India (CCI) approves, the merged entity will be a joint venture with RIL, Viacom18, and Disney as partners.

RIL claims the merger won't hurt competition, but acknowledges overlaps in areas like content licensing and advertising.

E-commerce giant Flipkart secured nearly $1 billion (₹8,300 crore) in funding, with Google joining the round for $350 million. This values Flipkart at $35-36 billion (around ₹2.9 lakh crore).

This marks the first time a major internet company has invested in Flipkart since Walmart acquired it in 2018.

It's also the biggest funding by a consumer internet firm in recent times. Flipkart plans to use the funds to restart its quick commerce business (like Zepto or Blinkit) in July and strengthen its core business and ventures like Cleartrip and Shopsy.

Zee Entertainment spent a whopping ₹432 crore ($52 million) on its failed merger with Sony's Indian unit Culver Max Entertainment.

The deal fell through in January due to disagreements over leadership and unmet conditions. This hefty sum includes ₹256 crore spent in the last year alone.

Zee also had to shut down some businesses to meet merger requirements, leading to an additional ₹331 crore in charges.

The breakup between to-be partners was way too expensive for Zee Entertainment. Curious to know what went wrong? Read Is Zee-Sony Merger On or Off?

Spices in India are mostly cleared of Ethylene Oxide (EtO) scare. Tests on popular brands MDH and Everest by India's food safety agency FSSAI found no traces of EtO in most samples.

This comes after Singapore and Hong Kong banned these brands on the grounds that they contained too high EtO levels. Over 300 spice samples across brands are being tested nationwide.

So, was the ban placed on Indian spice brands a fluke or a hypocrisy from competitors?

Also Read: Is the Indian Food Industry in Danger?

IREDA, the renewable energy financier, is gearing up for an FPO (Follow-on Public Offering) to raise more funds. They might issue a follow-on public offering (FPO) later this year or early next year.

This comes after their successful IPO in December 2023. The additional capital will be used to support renewable energy projects in India.  

It’s like they’re saying, “Hey investors, want to save the planet and make some green (money)?”

Paytm's losses widened significantly in Q4 2024, reaching ₹550 crore compared to ₹169 crore last year. Revenue also dipped 3% YoY.

Even profitability metrics like EBITDA painted a concerning picture as it fell to ₹103 crore.

The company attributed these results to temporary issues from the UPI transition and a permanent disruption from the Paytm Payments Bank embargo.

Pine Labs, a $5 billion (₹41,500 crore) fintech company offering payment and BNPL services, is moving its base from Singapore to India.

This simplifies operations and reduces costs for the company. Pine Labs had earlier planned an overseas IPO but delayed it due to market volatility.

This announcement follows a trend of fintech firms like PhonePe and Razorpay returning to India's booming market.

Microsoft is launching a new line of AI-powered PCs called "Copilot+" to compete with Alphabet and Apple.

These PCs will start at $1,000 (₹83,000) and boast features like "Recall," which uses on-device AI to create a searchable history of everything you've done on the computer, from browsing to chats.

This launch comes as Microsoft's stock surges on Wall Street's belief that AI will be a major profit driver.

Land owned by defunct Go First Airlines will be auctioned for ₹1,960 crore.

This follows a Delhi High Court decision allowing lessors to repossess planes, dampening hopes for an airline revival.

Creditors are moving forward with the land sale despite the low chance of recovering a good value for the airline itself.

Also read: Why did Go First Faced Insolvency?

Indian dairy giant Amul launched its milk in the US! They partnered with a local cooperative to handle processing while Amul takes care of branding & marketing.

Initially available in major cities like New York & Chicago, Amul aims to expand further to over 50 countries.

Back in India, Amul reportedly plans to launch a new "super milk" with a much higher protein content.

With health-related allegations rising on Indian food brands, is it a right time for Amul’s launch overseas?

Men's clothing brand Rare Rabbit is raising ₹500 crore in its first funding round. A91 Partners led the round, with participation from the family office of ethnic wear giant Manyavar's founder and Zerodha co-founder. This values Rare Rabbit at ₹2,200 crore.

The funding includes ₹250 crore in new investment and ₹250 crore from existing founders selling part of their ownership.

 This bootstrapped company has grown quickly, reaching ₹600 crore in revenue (over 60% YoY growth) and ₹100 crore in operating profit in FY24.

Nestle India shareholders rejected a proposal to increase royalty payments to its Swiss parent company. Over 57% of shareholders voted against the hike, causing the company's stock to rise slightly.

This comes after Nestle India previously agreed to seek shareholder approval every five years for such royalty payments.

The rejected proposal would have gradually increased royalty payments from 4.5% to 5.25% of net sales over five years.

OYO is revamping its IPO plans. They're close to finalising a $450 million (₹3,735 crore) bond sale to refinance debt. This means their financials could be updated, and hence refiling of the IPO application with the regulator is required.

J.P. Morgan is expected to lead the bond issuance with an interest rate of 9-10%.

OYO's parent company, Oravel Stays Ltd., had already prepaid some debt, reducing the amount needed to refinance.

India is tightening rules for Electric Vehicle (EV) investments under its new policy. Companies from bordering countries like China will face stricter scrutiny.

Tesla, yet to announce plans, might be impacted by the stricter guidelines. Existing carmakers in India won't need new subsidiaries to apply.

The government aims to clarify the policy with detailed information on application procedures and project monitoring.

Also read: Can Tesla Disrupt India’s Auto Industry?

Reliance, Viacom18, and Star India's mega-merger is a step closer! National Company Law Tribunal (NCLT) has approved the plan but it needs creditor sign-off.

The court also appointed a chairperson and other officials to oversee the creditor meetings. The companies must notify relevant authorities, whose silence will be considered consent.

This follows an agreement in February to combine their media and streaming businesses and prepare the largest entertainment arm in India.

Also read: India’s Largest Media Entity: A Good Buy Time?