The highly anticipated entry of Tesla into the Indian market with their Model Y has finally happened. Priced between Rs 59.89 lakh to Rs 67.89 lakh, the RWD car boasts a spacious cabin and impressive features such as a 500-622 km WLTP range and a 0-100 km/h acceleration time of 5.6 seconds. However, it faces tough competition from other EVs such as the Kia EV6, Hyundai Ioniq 5.
Vedanta's subsidiary, Vedanta Semiconductors, is accused of routing a Rs 2,500 crore loan through paper-based commodity trading to avoid regulatory scrutiny. The loan was reportedly backed by a 1% stake in Hindustan Zinc and raised through non-convertible debentures subscribed to by foreign entities.
Reliance Industries subsidiary Jio Platforms (JPL) reported a 1.25% increase in net profit during the June quarter, driven by higher average revenue per user and data consumption. The company's consolidated net profit rose to Rs 7,110 crore, with revenue also increasing by 3.08%. Jio's Ebitda also saw a 6.58% rise, with subscriber growth and 5G adoption being key drivers.
RIL's Q1 net profit rises due to sale of stake in Asian Paints and strong consumer business performance, but core oil-to-chemicals revenue declines. Chairman Mukesh Ambani remains optimistic about growth initiatives and contribution to India's progress, with a focus on retail and digital services.
SEBI chairman Tuhin Kanta Pandey emphasizes the significance of electricity derivatives for risk management and sustainability. SEBI and CERC have developed contract specifications and risk management norms to support India's increasing electricity demand and attract investment in the power sector.
Reliance Retail, the retail arm of Reliance Industries (RIL), saw a 28.3% rise in consolidated net profit to Rs 3,271 crore for the quarter ended June 30. Revenue rose 11.3% to Rs 73,720 crore. Ebitda increased by 10.9% to Rs 6,044 crore, but fell short of expectations.
The government's fertiliser subsidy bill for FY26 is expected to increase due to a 23% rise in global DAP prices. The country imports two-thirds of its annual consumption of 10 MT DAP, and the spike in prices is a result of global supply challenges, rising demand, and import drop. However, the MRP of DAP remains unchanged, and a long-term agreement has been reached with Saudi Arabia.
IOB's net profit in Q1 rose 76% due to lower provisions and higher other income. NII grew 13% y-o-y but fell 12% sequentially. NIM moderated to 3.04% and is expected to take a hit in the next quarter. The bank plans to raise Rs 4,000 crore through QIP and Rs 10,000 crore through infrastructure bonds.
Reliance Industries, led by Chairman Mukesh Ambani, saw a 78.32% rise in consolidated net profit for the first quarter, reaching Rs 26,994 crore. The company's other income stood at Rs 15,119 crore, with a major portion coming from the sale of its stake in Asian Paints. Excluding this sale, EBITDA and PAT rose 15% and 25% respectively. Revenue from operations also saw a 5.27% rise.
PMO asks MHI to consult industry stakeholders before launching Rs 1,350 crore incentive scheme for domestic production of heavy rare earth magnets. Concerns raised over policy structure and viability, highlighting India's reliance on imports. Scheme expected to support two manufacturers and boost domestic supply chain. Interest shown by companies like Sona Comstar and Midwest Advanced Materials.
Non-resident Indians (NRIs) must file income tax returns (ITR) for compliance, refunds, and losses. Interest on NRE and FCNR accounts is exempt, while NRO account interest is taxable. Rental income, capital gains, and dividends from Indian sources are taxable. NRIs must disclose their residential status, Indian income and assets, and report TDS and tax credits.
Shoppers Stop, led by Kavindra Mishra, saw improved financial performance in Q1, driven by increased consumer sentiment and strategic plans for premiumisation and expansion. Mishra discusses the company's retail strategy for FY26 and the positive impact of government policies. While the beauty business faced challenges in the mass segment, it saw growth in the premium segment.
Bharti Airtel prioritizes financial discipline, resulting in lower salary hikes and executive pay growth. Despite a 10.4% increase in revenue and record market share in mobile services, employee remuneration decreased for the second year and top executives received modest hikes. Airtel's capital expenditure decreased due to completion of 5G infrastructure rollout and focus on efficiency.
The recent VRRR auction saw a strong response of Rs 2.08 lakh crore, in contrast to previous auctions. The RBI accepted Rs 2 lakh crore at a cut-off rate of 5.49%, despite high liquidity levels in the system. Upcoming GST payments do not seem to have affected the liquidity. The RBI's monetary strategy aims to align the call.
The Indian government is investigating the rise in Chinese medical device usage in the country's healthcare industry due to concerns over data privacy and national security. China is the second-largest supplier of medical devices to India, with imports increasing by over 100% in the past year. Experts warn of potential data theft, malware threats, and goods dumping through neighboring countries.
Reliance Industries has acquired Kelvinator, a popular home appliances brand, for Rs 160 crore. This is in line with their strategy of reviving iconic Indian brands like Campa Cola and Ravalgaon. The deal will leverage Reliance's strong retail network and combine Kelvinator's innovation legacy, further strengthening their position in the FMCG and consumer goods market.
JSW Steel, led by Sajjan Jindal, reported a 158.5% jump in net profit for the June quarter, driven by lower costs and higher revenue. The steelmaker beat Bloomberg's profit estimate and recorded a 37% increase in Ebitda. Domestic sales increased by 12%, while exports fell by 20%. The company plans to deploy Rs 20,000 crore for the full fiscal.
The Centre is revamping the Stand-Up India scheme by September, with a focus on doubling term loans up to Rs 2 crore over five years to support women, Scheduled Caste, and Scheduled Tribe entrepreneurs. The updated scheme will also offer online training for entrepreneurship and managerial skills and is expected to benefit 0.5 million entrepreneurs.
The EU has imposed new sanctions on Russia, including restrictions on an Indian oil refinery owned by Rosneft. This could disrupt the supply chain and strain refining margins. Other measures include a lower oil price cap and a ban on Nord Stream pipelines. The EU is also targeting the Russian military industry, Chinese banks aiding sanctions evasion, and blocking tech exports.
India's crude import bill for the first three months of FY25-26 declined by 18.6% to $30.6B, attributed to the country's heavy reliance on discounted Russian barrels. This has resulted in a shift away from traditional Middle Eastern suppliers. Despite potential geopolitical risks, India plans to continue purchasing oil from Russia and diversify its crude basket by tapping into additional sources.
ITC Limited aims to achieve "Net Zero Operations" by 2050 and has made progress towards it. They have been "Plastic Neutral" for four years and have sustainably managed plastic waste. The company has met its 2030 target of sourcing 50% of energy from renewable sources and is committed to biodiversity conservation and social impact initiatives.
Sebi proposes changes in mutual fund categorisation to address portfolio overlap and improve clarity. Mutual funds may offer both Value and Contra funds with a limit of 50% portfolio overlap. Debt schemes to be renamed for better understanding. Mutual funds may invest in REITs and InvITs under equity category schemes. Changes proposed in equity saving, hybrid, and solution-oriented schemes.
Maruti Suzuki's first electric vehicle, the e Vitara, will be launched in India on September 3. The SUV boasts a new design, advanced safety features, and a choice of two battery options. The 61 kWh variant will have a powerful dual-motor AWD setup with 181 bhp and 300 Nm of torque.
India's economy in July has conflicting signs, as retail inflation drops to a six-year low and rate cuts are expected, but exporters are worried about US tariffs. Negotiations for an interim trade deal with the US are ongoing to avoid high tariffs. June trade data shows lower exports despite increased US demand, but overall trade deficit decreases. Lower food prices drive retail inflation down.
Raghuram Rajan warns India to approach trade agreements with the US tactfully, considering the heavily subsidized agriculture sector. He advises exploring FDI and promoting value-added products in sectors like milk. Rajan sees potential for India to benefit from the US-China trade tensions, but urges for a reversal of protectionist policies and increased competition for long-term gains.
The new TVS Apache RTR 310 has been launched with major changes in design and features. It now has a transparent clutch cover, LED turn indicators, and knuckle guards. The most significant update is the 5-inch TFT instrument cluster with improved graphics and multiple languages. Additional features include drag-torque control, launch control, and keyless ride.
Moto Vault, the official seller of Keeway brand in India, has launched the RR300 at Rs 1.99 lakh, ex-showroom. The motorcycle boasts an aggressive design, full fairing, and three color options. Bookings are open and deliveries begin in July. It will compete with TVS Apache RR 310, BMW G 310 RR, and KTM RC390. The RR300 features a trellis frame, USD forks, and a 292cc engine.
Axis Bank recently announced a major senior leadership overhaul, with Neeraj Gambhir appointed as Executive Director after the resignation of Arjun Chaudhary. Chaudhary, who previously held various positions at Citi India, left to pursue an entrepreneurial path. Gambhir, a 30-year veteran in the finance sector, will take over on August 4 and also serve on the boards of Axis Asset Management
India has become the top contributor to America's immigrant billionaire community, with 12 Indian-origin billionaires on the Forbes 2025 List. These entrepreneurs hold $1.3 trillion in wealth, making up 18% of all American billionaires. Names like Jay Chaudhry, Vinod Khosla, and Sundar Pichai exemplify the classic immigrant success story, rising to the top of their respective industries.
Nomura maintains 'Reduce' rating on Nuvoco Vistas Corporation with a target price of Rs 330 per share. Q1FY26 performance showed green shoots, but operational concerns remain. EBITDA of Rs 520 crore, 6% sequential growth in blended realizations, and 5.1 MT grey cement volumes in line with projections. Fuel costs in check, but fixed costs a concern.
Indian firms saw a 50% increase in overseas direct investments in FY25, reaching $35 billion. This was driven by a rise in repatriation and investments in developed countries like Singapore, the Netherlands, US, UAE, UK, and Mauritius. However, concerns arise about the dominance of debt route in India's OFDI and the need to redefine its definition.
India launches Rs 1,345 crore program to boost rare earth magnet production and reduce dependence on China's monopoly. Automobile sector facing shortage of materials, affecting electric and hybrid vehicles. High-profile meeting to discuss program, potential for global investments. India has fifth-largest deposit of rare earth materials.
HAL has received wing assemblies for the advanced LCA Tejas Mk1A from L&T, a major boost for India's air defence. This development will enhance the Indian Air Force's combat strength and reduce reliance on other countries. It showcases the progress in indigenous aerospace manufacturing under the Make in India initiative.
Afcons Infrastructure, a subsidiary of Shapoorji Pallonji group, secures two contracts worth Rs 4,535 crore in Croatia to construct a 9 KM and 11.5 KM road. This is the company's second order this month, following a contract from Reliance Industries worth Rs 175 crore. In FY25, Afcons completed 60 projects abroad and experienced significant growth.
Mid-session trade saw Nuvoco Vistas shares surge on strong Q1 results, while Clean Science and Technology shares plunged due to weak numbers. Motherson Sumi Wiring India and Samvardhana Motherson International announced a bonus issue, boosting their stock prices. Key defence stocks like Bharat Dynamics, Cochin Shipyard, and Mazagon Dock also saw positive movements.
Nuvama has raised the target price for HDFC AMC to Rs 6,530 and maintained its 'Buy' rating on the stock. The company has experienced strong equity and SIP flows, leading to a surge in Quarterly Average Assets Under Management (QAAUM). The improved market outlook, strong execution, and application for an SIF license have also contributed to Nuvama's positive stance on HDFC AMC.
Uber and Lucid have formed a $300 million investment deal to deploy 20,000 self-driving vehicles using Nuro technology. This aligns with Uber's renewed focus on autonomous cabs and partnerships with Waymo and Aurora. Lucid's shares rose 26% and Tesla is conducting a robotaxi trial in Austin while Waymo expands their operations.
PM Modi visited Motihari ahead of Bihar Assembly Elections and handed over house keys to 12,000 rural beneficiaries, launched projects worth Rs 7,200 crore, and flagged off four Amrit Bharat Express trains. He praised the Centre and Bihar government's joint efforts in development and criticized past governments for neglecting the state. CM Nitish Kumar also emphasized the state's progress.
Tesla has finally arrived in India with its Model Y, but the high price of Rs 59.89 lakh, ex-showroom, has been a major talking point. This is due to import duties and the need to switch the left-hand drive vehicle to right-hand drive for India. The optional Full Self-Driving feature also costs an additional Rs 6 lakh, with no guarantee of activation as Tesla awaits government approval.
Jaguar Land Rover (JLR) in the UK is facing the consequences of the Trump tariff, leading to a 15.1% drop in sales in the first quarter of FY26. The company is cutting 500 management jobs and temporarily halting exports to the US market. The US government has reduced tariffs for the UK, but JLR's best-selling model, the Defender, faces a 25% tariff. JLR is also going all-electric by 2026,
Industry bodies are worried about China's restrictions on rare earth exports, which could hurt India's $32 billion smartphone export goal. They urge the government to intervene to maintain supply chain, technology transfers, and competitiveness. India has the 5th largest rare earth reserves but lacks production infrastructure. The government is working on a plan to address this issue.
"Coldplaygate" sparked controversy when a kiss cam caught Astronomer CEO Andy Byron and his HR head Kristin Cabot in a compromising position at a concert in Massachusetts. The scandal was fueled by their professional and personal history, including Byron's marriage and Cabot's recent divorce.
Tesla's Cybertruck has struggled with production delays and recalls, causing a decrease in sales. The GMC Hummer EV has outsold the Cybertruck, while the Ford F150 Lightning remains the top choice. The Cybertruck's unconventional design and GM's Hummer EV's impressive features and lower pricing are cited as reasons for their respective successes.
The MHA has appealed a Delhi High Court ruling granting Indian citizenship to a 17-year-old girl born in India to Indian-origin parents with US citizenship. The ministry is concerned that the ruling could set a precedent and have sweeping implications, potentially diluting the Citizenship Act.
Choosing the right motorcycle helmet can be confusing, but it's crucial for safety. Half helmets are basic but not suitable for high-speed vehicles. Full-face helmets offer the best protection, while modular helmets combine convenience and protection. Adventure touring helmets are versatile but can be tiring at high speeds. Off-road helmets are also popular.
The Supreme Court has been informed that the execution of Indian nurse Nimisha Priya has been stayed and efforts are being made to secure her safe return. The petitioner must receive a pardon and the issue of "blood money" will be addressed. The case has been postponed until August 14, with the Ministry of External Affairs actively involved in finding a solution.
Jefferies predicts India's specialty chemicals sector to perform well in the upcoming earnings season, with companies like NFIL and SRF expected to deliver strong numbers due to new contracts and capacity ramp-up. PI Industries and SRF are also expected to benefit from strong demand and pricing support. However, the agrochemicals industry still faces challenges.
PM Modi to launch development projects worth over Rs 7,200 crore in Bihar's East Champaran district, also visit West Bengal to unveil infrastructure projects worth Rs 5,000 crore. He will address public rallies and lay foundation stones for multiple rail projects in both states. The visit comes amid political tension with TMC in West Bengal and ahead of the state assembly polls.
A confrontation between BJP and NCP MLAs in Maharashtra Assembly premises sparked tensions as shocking visuals of a brawl surfaced on social media. The incident, which started as a verbal altercation, has led to demands for strict action and accountability from leaders across party lines.
Reliance Retail's acquisition of Kelvinator is a strategic move to democratize aspirational living in India. The integration of Kelvinator's innovation with Reliance Retail's retail network is expected to bring significant value to consumers and boost growth in the premium home appliances market.