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HinduBusinessLine
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Heavy rain to continue over Central, North-West India for another 4-5 days
- The Madden-Julian Oscillation (MJO) wave, a lower pressure band affecting weather patterns, is currently over the Indian Ocean, influencing rainfall and wind conditions.
- A low-pressure area in south Jharkhand with a monsoon trough may lead to the formation of another circulation in the north-east Bay of Bengal by July 21, potentially shifting the monsoon rain belt.
- The India Meteorological Department predicts heavy rainfall over Central and North-West India for the week of July 17 to 23, with a possible decrease in rainfall along the West Coast and Peninsular India.
- The IMD forecasts near normal to above normal rainfall in Central India, near normal levels in North-West and South Peninsula, and below normal rainfall in East and North-East India for the upcoming week.
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HinduBusinessLine
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241
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Broker’s call: Swiggy (Accumulate)
- Swiggy is positioned for growth and profitability in the e-commerce industry, particularly in food delivery and quick commerce.
- The company is focusing on improvements in average order value and take rate for Instamart to achieve positive contribution margin by Q1FY27.
- Expectation of a 33% sales CAGR during FY25-28E and turning EBITDA and PAT positive by FY28E.
- Initiation of an Accumulate rating with a target price of ₹450 based on Sum-of-the-Parts valuation.
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HinduBusinessLine
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Tata Steel leads digital trade shift with first eBL-backed coal shipment
- Tata Steel conducted its first paperless import transaction under a letter of credit for coal imports from Queensland, Australia to Dhamra Port in Odisha.
- The transaction involved seamless coordination between Tata Steel India, ICICI Bank, TS Global Procurement, Standard Chartered Bank (Singapore), and the digital platform provider ICE Digital Trade’s eBL solution.
- The digital processes replaced physical courier services and paperwork, speeding up documentation, reducing risks, and supporting Tata Steel’s digitization and environmental sustainability efforts.
- Tata Steel aims to build an environmentally responsible and efficient supply chain by deploying emission-efficient vessels and utilizing biofuels and LNG-powered ships for import shipments.
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Moneyweb
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Over $1bn in liquidations shows pain hitting crypto bears
- Over $1 billion in bearish crypto bets were liquidated in the past 24 hours as Bitcoin reached an all-time high of $118,847.
- Bitcoin's surge led to the largest single liquidation of $88.5 million on the exchange HTX, wiping out a total of about $1.29 billion in positions across all tokens.
- Bullish signs in the crypto market are emerging, including renewed ETF inflows and positive US regulatory news, contributing to Bitcoin's rise to near $119,000 and Ether surpassing $3,000.
- The recent rally in cryptocurrencies signals a divergence from traditional stock movements, with various triggers like trade turmoil and retail investments fueling the upward trend.
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Bloomberg Quint
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389
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India's Forex Reserves Slip By $3 Billion To $699.74 Billion
- India's foreign exchange reserves fell to $699.74 billion, a decrease of $3 billion in the week ending July 4.
- Foreign currency assets, a significant part of the reserves, dropped by $3.53 billion to $591.28 billion during the same week.
- Gold reserves, however, saw an increase of $0.3 billion to reach $84.84 billion.
- Despite the decline, India remains the fourth-largest holder of foreign exchange reserves globally, behind China, Japan, and Switzerland.
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HinduBusinessLine
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IPO-bound Anthem Biosciences to invest ₹154 cr towards expansion of custom synthesis and fermentation capacities
- Anthem Biosciences plans to invest ₹154 crore towards expanding custom synthesis and fermentation capacities, with a focus on adding new facilities.
- The company aims to increase its custom synthesis capacity at Unit II and introduce new capacity at Unit III, expecting a significant boost in production capabilities by the first half of FY26.
- Post-expansion, the aggregate annual custom synthesis capacity and fermentation capacity are set to rise to 425 kl and 182 kl, respectively, enhancing manufacturing output.
- Anthem Biosciences is preparing for its ₹3,395 crore IPO in mid-July, showcasing strong financial performance with revenue rising to ₹1,844 crore in FY25 and a PAT of ₹451 crore.
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Baystreet
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Stocks Dip as Canada Hit with Heavy Tariffs
- Futures linked to Canada's main stock index fell on Friday as President Trump announced a 35% tariff rate on all imports from Canada.
- The tariff news caused TSX futures to drop by 0.6% and the Canadian dollar to weaken by 0.22 cents to 73.01 cents U.S.
- Trump's decision on tariffs impacted stock futures in the U.S. as well, with Dow Jones, S&P 500, and NASDAQ futures all declining by 0.6% or more.
- The broader market also experienced a selloff, including tech shares like Nvidia and banking stocks led by JPMorgan, while global markets reacted with mixed movements.
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Baystreet
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Markets Set to Retreat from Records Amid Tariff Threats
- Stock futures dropped on Friday following President Trump's announcement of a 35% tariff on Canada and threats of higher tariffs.
- Futures for Dow Jones fell 0.6%, S&P 500 index dropped 0.6%, and NASDAQ sank 0.5%.
- Trump's tariff announcement cited fentanyl as a reason for higher Canada duties and mentioned potential blanket tariffs of 15% to 20% on other countries.
- Nvidia and tech shares pulled back in premarket trading, while oil prices rose to $67.34 a barrel and gold prices strengthened to $3,358.20 an ounce.
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HinduBusinessLine
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866
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Rupee slips 7 paise to end at 85.77 against US dollar
- Rupee weakened by 7 paise to close at 85.77 against US dollar amidst global market concerns over tariffs imposed by Trump on Canadian goods.
- Traders anticipate further rupee depreciation due to ongoing trade conflicts affecting global sentiment and uncertain trade deals like the US-India agreement.
- Forex market saw rupee trade within a narrow range, while Brent crude price rose slightly to $68.87 per barrel in futures trade.
- Indian authorities aim to finalize an interim trade agreement with the US before proceeding with a comprehensive bilateral deal, with negotiations ongoing in sectors like agriculture and automobiles.
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Bloomberg Quint
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315
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Sula Vineyards Q1 Update: Revenue Declines 8%, Wine Tourism Continues To Rise
- Sula Vineyards reported an 8% decline in revenue for the quarter ended June compared to the previous year, with revenue falling to Rs 118.3 crore.
- The company's revenue from its 'own brands' decreased by 10.8% due to a slowdown in urban consumption and pre-loading of spirits by trade, blocking trade placement for wine.
- On a positive note, Sula Vineyards' wine tourism segment saw a revenue increase of 21.8% to Rs 13.7 crore, attributed to higher footfalls, record occupancy, and guest spending in the first quarter.
- Despite the revenue decline, the company's shares have fallen over 40% in the past 12 months and around 28% year-to-date, settling at Rs 299.60 apiece on the NSE.
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Bloomberg Quint
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279
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US Treasuries Volatility Gauge Falls To More Than Three-Year Low
- The ICE BofA MOVE Index, a measure of expected fluctuations in yields, hit its lowest level since early 2022, indicating stabilization in the US Treasuries market after months of volatility.
- Government bonds have faced volatility due to President Donald Trump’s tariff threats and concerns over increased fiscal spending, although recent auctions for US 10-year and 30-year bonds showed strong demand, signaling optimism.
- The auction of 30-year Treasuries was well received, easing some concerns according to Mohit Kumar, but fiscal worries persist, with 10-year yields rising on Friday, potentially leading to a second consecutive week of declines.
- Market watchers are keeping an eye on the US government's budget balance release for June and its debt management strategies. Inflation concerns from tariff hikes and interest rate expectations by Federal Reserve officials, including potential rate cuts, continue to impact bond markets.
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Bloomberg Quint
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Saudis Lift Oil Output Above Quota in Rare OPEC+ Breach
- Saudi Arabia, along with other OPEC+ members, exceeded its crude production quota last month amidst global oil market surplus and geopolitical tensions.
- The International Energy Agency reported that Saudi Arabia raised crude output by about 700,000 barrels a day to 9.8 million barrels a day, with a significant portion being exported.
- Other countries like Iraq, Kuwait, and the United Arab Emirates also surpassed their OPEC quotas, while Iran saw a decline in production.
- Despite the surplus and slower global oil demand growth, oil prices remain under pressure, with futures trading around $69 a barrel.
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Bloomberg Quint
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101
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Google Pixel 10 Pro Camera Leaked, Pixel 10 Pro Fold Geekbench Score Lower Than Snapdragon 8 Elite Phones
- A listing on a Chinese auction site reveals leaked images of what appears to be a prototype of the Pixel 10 Pro, showcasing its pill-shaped metal camera module and confirming rumors about Google's Tensor G5 chipset.
- The Pixel 10 Pro is speculated to feature a triple rear camera setup including a 48MP primary camera, a 12MP ultrawide lens, and a 10.8MP telephoto with 5x optical zoom, along with a flat display and a hole-punch front-facing camera.
- Another report indicates that the Pixel 10 Pro Fold has been listed on Geekbench, revealing its performance with an octa-core processor, 16GB of RAM, and achieving scores of 2,276 in single-core and 6,173 in multi-core tests, which are lower than Snapdragon 8 Elite phones.
- While the Pixel 10 Pro Fold's performance on Geekbench is behind Snapdragon 8 Elite phones, it is expected to improve with optimized hardware and software in the final retail version.
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HinduBusinessLine
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334
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APCRDA inks MoU with NaBFID for transaction advisory services
- APCRDA has signed a Memorandum of Understanding (MoU) with NaBFID for transaction advisory services.
- NaBFID will assist APCRDA in creating financial plans for infrastructure projects in Amaravati, Andhra Pradesh, including exploring implementation models like public-private partnerships.
- The institution will help identify revenue sources and monetization options for land assets in the region.
- Both parties aim to develop innovative financing models for key infrastructure projects in Amaravati.
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TheNewsCrypto
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These 4 Crypto Picks Could Make 2025 Your Best Bull Run: Forget Missing Out On Shiba Inu (SHIB) and Dogecoin (DOGE)
- 2021 bull run created millionaires with Shiba Inu and Dogecoin.
- In 2025, new tokens like Little Pepe, Sei, Arbitrum, Aptos offer potential gains.
- Little Pepe focuses on meme culture, Sei on high-speed trading.
- Arbitrum is a Layer 2 leader and Aptos is a scalable Layer 1 option.
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