Bullets

The company has received the Letter of Approval (LOA) from the National Highway Authority of India (NHAI) for the rehabilitation and upgradation of the Chandikhole-Paradip Section in Odisha. 

This order demonstrates RVNL's skill in executing diverse railway projects. From new lines to electrification and major bridges, they do it all!

To know more about RVNL's transformative impact on India's transportation landscape, click here.
 

With the acquisition of 21st Century Fox, Walt Disney got Star India & Hotstar. Now Disney is looking to form a JV with a good prospect or outright sell the company.

Losing the Indian Premier League’s streaming rights to Viacom 18 last year cost Hotstar around 8-10 million subscribers.

Forming a joint venture with a worthy partner might be the only way to keep Star India under Disney’s wing. If not, letting the media company go might be Disney’s call.

Temasek Holdings Ltd posted a net loss of $6 billion for this year and its worst shareholder returns since 2016. The net loss was a first in the decade, and the shareholder returns fell by 5.07% for the year.

The loss, according to the company, comes as a result of "mark-to-market accounting" of its assets- a phenomenon where fair value is calculated using the current market price of the asset/organisation.

Is the 2023 Bank collapse heading to Asian geographies?

At the 50th GST Council meeting, finance minister Nirmala Sitharaman announced the application of 28% GST on online gaming, horse racing, and casinos.

With this decision, the long-held debate on taxation rates for chance-based and skill-based games has concluded. These rates will be added under GST law schedule III as taxable actionable claims.

The online gaming industry is not happy with this development and finds it to be “unconstitutional”, “irrational”, and “egregious”, as per AIGF’s CEO.

In an all-cash agreement worth ₹537 crore, CarTrade Tech is about to purchase Sobek Auto India Pvt. Ltd, the auto sales section of OLX India. 

According to the exchange filing, CarTrade and Sobek have reached a share purchase agreement that will allow CarTrade to acquire Sobek's entire stock. 
Within 30 days, the agreement is anticipated to be completed. 

The search for a buyer for OLX Autos' Indian business has finally come to an end.
 

Attention future iPhone buyers and tech enthusiasts in general! Your expectations for lower gadget prices might have experienced a little glitch.

The ambitious and long-drawn partnership between Vedanta Ltd and Taiwan-based chip manufacturer Foxconn has abruptly come to an end, with Foxconn withdrawing from the $1.9 thousand crore deal.

Vedanta Ltd's shares, which have shown ~23% growth in the last year, have experienced a fall of ~10% in the last six months and fell 2% overnight due to this withdrawal.

Amidst the many obstacles in Zee’s path, promoter Subhash Chandra and CEO Punit Goenka’s requests were blown away by SAT.

Securities Appellate Tribunal decided not to intervene in the ban placed by the SEBI regulator on their authority in Zee Group. SAT refused to intervene after finding no reason to do so!

So, Chandra & Goenka have been barred from holding key managerial positions as per June 12 order. By when the punishment ends is unclear at present.

Harley Davidson is looking to re-enter the Indian premium motorbike race with its economically priced X440, but the company does not intend to stop at just selling in India.

By manufacturing the bike in India, partnered with Hero Motocorp, HD can avoid the heavy import tariffs on bikes.

HD is looking into using these manufacturing units to produce bikes in India for exports. If HD succeeds, the Indian economy could thrive, while certain "Lifestyle Company" struggles.

The split of Mukesh Ambani's Reliance Industries and its financial services division has been approved by the National Company Law Tribunal, as a result of which the stock price has gone almost 4%⬆️.

 The newly rebranded Jio Financial Services Limited will likely be listed by September. 

This decision is anticipated to create India's fifth-largest financial services giant and unleash enormous potential for shareholders. 

Meanwhile, to read about Jio’s success story, click here.  

The largest cryptocurrency exchange in the world is simplifying crypto investments in the nation by providing trading facilities in Rupees. After a trade is finalised, Binance will work as the third party between buyer and seller for crypto assets transfer.

Investors can trade by transferring funds from banks, GPay, or even physical cash.

This step is likely to meet allegations of lawbreaking and money laundering and is now under the eyes of regulators in the country.

IOCL approved the plan to raise ₹22,000 via the rights issue of equity shares. This funding is part of the government’s plan for state-owned fuel retailers to contribute funds to net zero carbon emission projects.

The initiative will apply to the three state-owned fuel retailers; Bharat Petroleum Corporation Ltd. (BPCL), Hindustan Petroleum Corporation Ltd. (HPCL), and IOCL.

With the government being the company's primary owner, the rights issue will likely be subscribed by the state.

Drone manufacturing company IdeaForge seems to be flying high as far as stock prices and listing gains are concerned. As the shares list today, they are priced at ~₹1,300 per share, at listing gains of 94%.

The Qualified Institutional Buyers segment oversubscribed by 125.81 times, followed by Retail Individual Investors (RII) at 85.2x subscriptions and non-institutional investors at 80.58x subscriptions.

My only concern is if this hype for the drone industry is real or if it's just hawabaazi...

After Adani Enterprises and Adani Transmission, Adani Green has also hopped on the fundraising train. The company has received approval from the board to raise ₹12,300 crore.

The funds raised will be used for debt repayment and primarily to increase capex. For the QIP funding route, they will also ask the shareholders for permission.

Clearly all this effort is to recover from the “Hindenburg Research” catastrophe.
 

Everyone is ready to get a piece out of the massacre that is Twitter today. After Meta’s Threads launched yesterday, gaining 30 million signups in 1 day, another rival, Bluesky, is ready to participate in the party.

Bluesky secured $8 million in funding in a seed round led by Neo. The fund raised would be used to improvise Bluesky’s operations and AT Protocol ecosystem.

Bluesky’s first paid service also launched. What’s Twitter’s move going to be now?

The Manipal Group intends to invest ₹1,000 crore in return for an 18% share in API Holdings, PharmEasy and Thyrocare's parent company, in order to assist it in paying off its debts to Goldman Sachs.

Additionally, it is anticipated that existing investors will contribute ₹1,500 crore, valuing API Holdings at roughly ₹6,000 crore, a considerable decrease from its previous valuation. 

Will this infusion of funds be the game-changer for PharmEasy?
 

Digital document wallet, DigiLocker, will soon be the one-stop storage platform. Along with documents like Aadhaar Cards, PAN cards, etc., DigiLocker would soon allow storing other essential documents as well.

As part of the government’s plan to expand the platform, users will be able to store ITR, PF statements, NREGA job cards, and more.

Let’s hope that MeitY’s initiative to provide a safe house for official documents will be protected from any more data leaks.🤓

Guess who's ditching the junior league and stepping into the big boys' club? LTI Mindtree! 

LTIMindtree, is all set to take HDFC's place in the NIFTY 50 index. After the merger between HDFC and HDFC Bank, HDFC will cease to exist and trading will stop from July 13th.

Well who will be sliding into LTIMindtree's spot in Nifty Next 50, it is Jindal Steel & Power. And this chain reaction is set in motion as the cycle continues with subsequent replacements. 🔄
 

Swiggy is serving plastic with its food! This is not an exposé of flawed packaging by Swiggy, but a new offering in the form of an HDFC co-branded credit card, with additional benefits when used on the delivery platform.

Swiggy is also looking to enter the e-commerce and grocery delivery segments with its Minis and Instamart. All of this, while Zomato discontinued its credit card, struggles with Blinkit, and plateaus on its total customers. Did someone order some market disruption?

A microblogging app called “Threads” is launching on July 6th by Meta. The app will allow users to engage in a text-based conversation as well as give Instagram users the leverage to continue with their usernames in the app itself.

The launch of this new social media platform couldn’t have better timing as Musk announced certain limitations on Twitter posts.

How Twitter’s CTO replies to this first strike from Meta’s CEO would be interesting to watch.🥊

In a fresh wave of merger mania, IDFC and IDFC First Bank have decided to join forces, following the footsteps of HDFC. 

The board of IDFC First Bank has given the green light to merge with IDFC Limited, a move aimed at simplifying their corporate structure. 

The merger involves a share exchange ratio of 155:100, and is projected to increase the bank's standalone book value per share by 4.9%.

What does the future hold for the banking landscape?