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HinduBusinessLine
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Image Credit: HinduBusinessLine
Centre has spent ₹29,576 crore until March on Auto PLI: MHI
- The Indian government has spent ₹29,576 crore until March on the Auto Production Linked Incentive (PLI) scheme, which constitutes 70% of the total investment outlay of ₹42,500 crore projected for five years.
- The Ministry of Heavy Industries (MHI) has disbursed ₹322 crore in incentives by March 31, slightly below the projection of ₹336 crore, with the FY26 budget estimate being reduced to ₹336 crore from ₹3,150 crore the previous year.
- Major companies such as Tata Motors, Mahindra & Mahindra, Ola Electric, Toyota Kirloskar Motor, and others have received approvals for incentives under the PLI scheme designed to boost manufacturing of advanced automotive technology products.
- The PLI-Auto scheme, launched in September 2021 with a budget of ₹25,938 crore over five years, aims to promote domestic and global supply chains for advanced automotive technology products, specifically zero-emission vehicles like battery electric and hydrogen fuel cell vehicles.
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HinduBusinessLine
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Zee investors reject issuance of convertible warrants to promoters
- Close to 60% of Zee investors voted in favour of the issuance of convertible warrants to promoters, while over 40% voted against it.
- Public institutions played a significant role in rejecting the proposal, impacting the final decision against the company.
- Zee expressed respect for the shareholders' decision and reiterated its commitment to enhancing performance and profitability.
- Partners Group is set to acquire a majority stake in Infinity Fincorp for ₹1,950 crore, as Zee focuses on leveraging cash reserves and bolstering itself for future growth and competition.
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HinduBusinessLine
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Amazon launches quick delivery service “Now” in select pincodes in New Delhi
- Amazon has launched its quick delivery service, Amazon Now, in select pin codes in New Delhi after its initial launch in Bengaluru in February.
- The company aims to compete with Blintkit, Instamart, and Zepto in the quick delivery market and plans to expand the service over the next few months.
- Amazon is investing over ₹2000 crore to enhance its operational networks to serve customers faster, focusing on safety, quality, and reliability.
- The quick commerce grocery market in India is expected to reach ₹1.7 lakh crore by 2027, leading to Amazon and Flipkart eyeing a strong presence in the quick commerce segment.
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Baystreet
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MP Materials to Receive Huge Investment from U.S. DOD
- The U.S. Defense Department is set to make a substantial investment in rare earth miner MP Materials by purchasing $400 million of its preferred stock.
- MP Materials plans to use the funds to enhance its rare earths processing capabilities and magnet production capacity.
- As a result of this investment, MP Materials' stock price surged by 51.7% to $45.55.
- With support from the U.S. DoD, MP Materials will build a new magnet manufacturing facility in the U.S., aiming to reduce dependence on Chinese supplies and increase domestic production capacity.
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Cryptopotato
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Image Credit: Cryptopotato
NovaEx Launches Cryptocurrency Exchange Focused on Security, Transparency, and Scalable Trading Infrastructure
- NovaEx launches a secure, transparent, and scalable cryptocurrency exchange platform.
- Features Institutional-Level Asset Security, granular controls, deep market liquidity, and ultra-fast execution engine.
- Designed for global traders, NovaEx prioritizes trust, security, and sustainable growth.
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Guardian
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South West Water allowed to invest £24m rather than pay £19m fine
- South West Water will pay a £24m penalty for illegal sewage discharges into the environment instead of being fined £19m by Ofwat, the regulator for the water and wastewater sector in England and Wales.
- The penalty is due to the company's breach of legal permit conditions, with the company planning to invest £20m in reducing sewage discharges at storm overflows, £2m in tackling sewer misuse, and an additional £2m to support local environment groups as part of the agreement with Ofwat.
- Surfers Against Sewage expressed discontent, labeling the water industry model as broken and criticizing the regulator for allowing water companies to select their penalties.
- Ofwat chose to accept the investment proposal by South West Water instead of imposing a fine as it believes the company will carry out the required work to rectify its infrastructure issues; the public and stakeholders can provide input on the penalty size before Ofwat's final decision.
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Cryptopotato
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Image Credit: Cryptopotato
Playnance Launches PlayW3, a Fully On-Chain Web3 Social Gaming Platform Built on PlayBlock
- Playnance launches PlayW3, a game-changing on-chain Web3 social gaming platform on PlayBlock.
- PlayW3 merges Web2 usability with Web3 features like G Coin, offering seamless gaming experiences.
- Players enjoy instant, transparent transactions, on-chain actions, and a user-friendly interface.
- Be The Boss program allows entrepreneurs to launch branded Web3 gaming portals effortlessly.
- Playnance's infrastructure powers PlayW3, bridging Web2 to Web3 gaming seamlessly for mass adoption.
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Cryptopotato
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Image Credit: Cryptopotato
Catex Launches as the Home of Uniswap v4 Builders and Native Yield on Unichain
- Catex officially launches as the MetaDEX and native yield engine of Unichain, setting a new standard for decentralized exchanges aligning incentives and driving growth.
- Built on Uniswap v4's hooks infrastructure, Catex acts as a coordination layer uniting liquidity providers, managers, protocols, and users around hyper-efficient liquidity.
- Catex allows developers to deploy custom strategies into AMM logic, integrate with CATX emissions and incentives via gauges, and build capital-efficient vaults with automated liquidity management.
- Catex aims to become the de facto hub for Hook developers and protocol teams in creating incentive-aligned DeFi primitives on Unichain, providing users with native yield governed by ve(3,3) tokenomics.
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Baystreet
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270
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Nvidia Reaches $4 Trillion Market Capitalization
- Nvidia has become the first publicly traded company to reach a $4 trillion U.S. market capitalization, with its stock rising 2% on July 9 to achieve this milestone.
- The company's share price has significantly increased since the mid-April stock market bottom, driven by investors' interest in the artificial intelligence (A.I.) sector.
- Nvidia is now the world's most valuable public company, surpassing Microsoft and Apple, which each have a $3 trillion U.S. market cap, showcasing the company's rapid growth.
- The company's stock growth is attributed to the increasing demand for its A.I. hardware and microchips, with Nvidia leading in the market for graphics processing units (GPUs) powering A.I. applications. Nvidia reported a significant year-over-year profit growth and its stock is currently trading near an all-time high.
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Moneyweb
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Nigeria secures $747m loan for controversial road project
- Nigeria secured a $747 million syndicated loan for the Lagos-Calabar highway project linking the commercial capital to a coastal city.
- The project, criticized when awarded in 2023, aims to provide economic opportunities to coastal communities in southern Nigeria.
- This is Nigeria's first syndicated road-infrastructure loan of this size, with plans to toll the road for financial sustainability.
- The estimated $9.8 billion Lagos-Calabar Coastal Highway project is part of Nigeria's infrastructure improvement plan, with government and private financing.
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TronWeekly
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XRP price surges, OurCryptoMiner users earn $5,735 a day
- XRP price has surged, attracting market attention as it regains key support levels and exhibits a breakout structure, with analysts predicting a strong third wave of gains pushing prices above $3.
- OurCryptoMiner cloud mining platform offers mining services for cryptocurrencies like Bitcoin and Dogecoin without the need for equipment or technical expertise, allowing new users to earn daily stable income by registering.
- Users can start a free cloud mining journey with OurCryptoMiner, enjoying benefits like sign-up rewards, no hardware requirements, multi-currency support, real-time income tracking, and affiliate programs for earning rewards by inviting friends.
- OurCryptoMiner distinguishes itself in the cloud mining space with AI-driven smart mining machines, clean energy usage, and a range of contract options catering to users of all levels, making mining environmentally friendly and accessible to all.
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Baystreet
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WK Kellogg Stock Soars 50% Higher On Takeover Reports
- WK Kellogg's stock is up more than 50% following reports of a potential $3 billion acquisition offer from chocolate maker Ferrero.
- Ferrero, known for its Ferrero Rocher hazelnut chocolates, may finalize the acquisition of the breakfast foods company WK Kellogg in the coming days.
- WK Kellogg, based in Battle Creek, Michigan, is a standalone company that produces cereals like Corn Flakes and Froot Loops after being spun off in 2023.
- The potential acquisition reflects ongoing consolidation in the packaged food industry as consumer preferences shift towards healthier breakfast options and private label brands.
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Guardian
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Ferrero Rocher owner to buy cereal giant WK Kellogg in $3.1bn deal
- Ferrero, the owner of Ferrero Rocher, is set to acquire cereal giant WK Kellogg in a deal valued at $3.1 billion due to struggling consumer demand amidst high inflation.
- The deal, offering WK Kellogg's shareholders $23 per share, represents a 31% premium to the stock's closing price on Wednesday, with shares surging by 30% in pre-market trading.
- This acquisition merges popular brands such as Nutella, Kinder, Frosted Flakes, and Special K under Ferrero's umbrella, marking Ferrero's largest acquisition recently.
- With the transaction expected to finalize in the latter half of 2025, packaged food companies face challenges amid subdued demand and pressures to address health concerns, notably eliminating synthetic dyes.
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Bloomberg Quint
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Image Credit: Bloomberg Quint
Ireda Q1 Results: Profit Slips 36% Despite Rise In Net Interest Income
- Indian Renewable Energy Development Agency Ltd. reported a 36% decrease in consolidated net profit during the quarter ended June 31, 2025, amounting to Rs 247 crore compared to Rs 384 crore in the previous year.
- The company's net interest income (NII) saw a significant 36% increase to Rs 691 crore from Rs 508 crore year-on-year.
- Ireda's loan book showed growth with a 29% rise, reaching Rs 11,740 crore in sanctioned loans and Rs 6,981 crore in loan disbursements during April-June.
- Despite the rise in net interest income, Ireda's shares have fallen 31.40% over the past 12 months and 21.19% year-to-date, settling at Rs 169.64 apiece on the NSE.
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Baystreet
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AgEagle Inches up on Japan Developments
- AgEagle Aerial Systems Inc. shares strengthened as the company announced the sale of a RedEdge-P Dual drone to Shizuoka University in Japan.
- The drone, equipped with a 10-band camera, will aid researchers in studying the effect of environmental factors on Japan's diverse Alpine forests.
- Professor Atsuhiro Iio from Shizuoka University highlighted the drone's capability to scan large forest areas effectively, identifying tree species resilient to droughts, diseases, and invasive fauna.
- The research aims to predict and mitigate the impact of drought on Japanese forests and can potentially benefit other countries facing similar forest challenges.
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