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Bloomberg Quint
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Indegene Gets B&K's Initiation With 15% Upside Projection
- B&K Securities initiated coverage on Indegene with a 'hold' rating and projected a 15% upside potential with a target price of Rs 648 apiece.
- Indegene, specializing in life sciences commercialization, is well-placed to benefit from outsourcing trends in the industry, according to B&K Securities.
- The company has experienced judicious growth through acquisitions, scaling from $10 million to $90 million in revenue between 2010–20.
- However, risks for Indegene include overreliance on Africa and Europe, potential drug price reductions, and increasing competition from global capability centers in the biopharma industry.
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HinduBusinessLine
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Google rolls out AI mode in India, powered by Gemini 2.5
- Google has rolled out an AI mode feature in India, powered by Gemini 2.5, which has received positive feedback for its speed and response quality.
- This AI mode feature is multimodal, allowing users to interact by speaking their questions or snapping a photo to query.
- Users can expect to access this feature in a new dedicated tab within the Google app's search interface, with multiple input options like typing, voice commands, or image queries available.
- Google also recently updated its Gemini app to allow video uploads for analysis, but this feature may not be universally accessible across all iOS and Android devices yet.
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HinduBusinessLine
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ICICI Prudential AMC files for IPO; Prudential to sell 10% stake
- ICICI Prudential AMC, a joint venture between ICICI Bank and Prudential, has filed for an IPO with Prudential looking to sell a 10% stake.
- Prudential Corporation Holdings Limited (PCHL), a subsidiary of Prudential, will offer up to 10% of ICICI Prudential AMC's equity share capital.
- In addition, an agreement has been made for Prudential to sell up to 2% of the stake to ICICI Bank before the IPO.
- The IPO plans follow Prudential's earlier consideration of listing the Indian joint venture, with estimated proceeds of up to $1.2 billion.
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Bloomberg Quint
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Adani Energy Has Jefferies Bullish As Double-Digit Growth Seen In Medium Term
- Jefferies maintains a 'buy' stance on Adani Energy Solutions Ltd. with a target price of Rs 1,150.
- The company is projected to have double-digit medium-term growth with significant transmission projects and steady distribution growth in Mumbai. Smart meters commissioning is identified as a key growth driver.
- Adani Energy Solutions is expected to see 34% Ebitda CAGR and 57% EPS CAGR in FY25-27E, surpassing Power Grid Corp.'s growth rates.
- Despite certain risks, the company's valuation presents upside potential with significant Ebitda delivery, transmission expansion plans, and smart meter installations.
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HinduBusinessLine
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Bessent: Trump tariffs could yield $300 billion by year-end
- Bessent forecasts that Trump's new tariffs may yield over $300 billion by the end of the year, fueled by increased duties on U.S. imports and steel, aluminum, and autos.
- The $300 billion target is projected by the end of calendar 2025, with no plans for tariff extension and impending tariff threats on copper, pharma, and BRICS.
- Customs duties hit a record $22.8 billion in May, marking a substantial increase from the previous year, totaling $86.1 billion for the first eight months of fiscal 2025.
- Trump sets an August 1 deadline for higher reciprocal tariff rates, plans a 50% tariff on copper imports, and hints at further tariffs on semiconductors and pharmaceuticals.
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TechBullion
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5Strands’ Pet Test Demonstrates Wellness Benefits in 3rd Party Study
- 5Strands offers pet intolerance, sensitivity, and imbalances tests to help pet owners address their pets' health issues like skin irritation, digestive problems, and behavioral changes.
- A recent consumer perception study conducted by Citruslabs demonstrated improvements in pets' vitality, digestion, and behavior after adjustments based on the test results.
- 5Strands' test helps pet owners identify potential intolerances and imbalances, allowing them to create tailored plans for their pets' health and comfort.
- The study affirms that 5Strands' Pet Intolerances & Imbalances Test is a trusted solution that goes beyond diagnosis to improve pet wellness.
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HinduBusinessLine
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Crizac IPO: Will strong subscription lead to a premium listing?
- Crizac fixed its IPO price at ₹245 and analysts predict a 15-20% premium listing.
- The ₹860-crore IPO from the B2B education platform saw strong subscription rates, with non-institutional buyers and institutional buyers subscribing 76.15 times and 134.35 times, respectively.
- Retail investors' portion was subscribed 10.24 times, and the company raised ₹258 crore from anchor investors ahead of the issue opening.
- Crizac has collaborations with global institutions of higher education and operates from India with operations in London and consultants in various countries.
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HinduBusinessLine
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Last day to subscribe IPO of Travel Food Services
- The Travel Food Services' ₹2,000-crore IPO has received bids for 13.90 lakh shares against 1.34 crore shares, closing on July 9.
- The IPO, priced at ₹1,045-1,100 per share, is entirely an offer for sale by the Kapur Family Trust.
- The offer saw varied subscription rates across segments with QIB portion receiving bids for 0.18 times, retail for 0.28 times, and NII for 0.24 times.
- Travel Food Services operates in airport travel, quick-service restaurant, and lounge sectors across Indian, Malaysian, and Hong Kong airports, with a notable market presence.
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HinduBusinessLine
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Stocks to watch on July 9: Pharma, Deccan Gold, Ola, JSW Steel, Signatureglobal, and more
- Signatureglobal reports 15% decline in sales bookings to Rs 2,640 crore in Q1.
- JSW Steel's crude steel production increases 14% in June quarter.
- Ola launches MoveOS 5 software, enhances vehicle performance and range.
- Bajel Projects plans capacity addition at Ranjangaon facility, investing Rs 170 crore.
- Zee Entertainment appoints Divya Karani and Saurav Adhikari as Directors.
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HinduBusinessLine
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Emerson, Tata Technologies join hands to develop mobility testing solutions
- Emerson and Tata Technologies have partnered to develop testing and validation solutions for OEMs in automotive, aerospace, and commercial vehicle sectors.
- The collaboration combines Emerson's test and measurement solutions with Tata Technologies' engineering services to tackle challenges in software-defined, connected, and electric and autonomous vehicles.
- Pilot programs are already underway in India, Europe, and North America, showcasing successful engagements with a European luxury OEM for EV powertrain test rigs and a premium European brand for infotainment head-up display units.
- This partnership aims to accelerate development, reduce costs, and deliver intelligent validation frameworks to bring competitive products to market faster.
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TechBullion
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Noble Horizon Expands Off-Plan Portfolio Amid Surge in Global Investor Interest in Dubai
- Noble Horizon Real Estate in Dubai has expanded its off-plan property offerings to cater to increased global investor interest in Dubai's real estate market.
- The firm, licensed by RERA and with nearly 30 years of experience, now offers a wider range of off-plan projects from major developers like Emaar, DAMAC, Meraas, and BnW Developments in high-demand areas.
- As off-plan transactions in Dubai surge and account for over 60% of all residential sales, Noble Horizon aims to meet the needs of international buyers by providing early access to quality projects in emerging communities.
- Noble Horizon's expanded inventory includes various property types and ownership structures, offering advisory services to institutional clients and individual buyers, along with actively managing land acquisition and project delivery phases.
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Bloomberg Quint
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Breaking News Live: 200% Tariff On Pharma, 50% On Copper Says Trump; AI-171 Crash Prelim Report Out On Friday
- US President Donald Trump announced a 200% tariff on pharma and a 50% tariff on copper during a press conference.
- A preliminary report on the Air India flight AI 171 crash, in which 260 people died in June, is expected to be released by Friday.
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TechBullion
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Burano Doors Sees GTA Home Values Rise with Efficiency Upgrades
- Energy-efficient doors and windows could add over $125 million in home value annually in the Greater Toronto Area (GTA), reflecting changing buyer priorities in the real estate market.
- Toronto Regional Real Estate Board data shows a recent 8.4% increase in GTA home sales and an average home price of $992,800, emphasizing the growing demand for energy-efficient home features.
- Replacing outdated doors and windows with energy-efficient models can potentially increase a home's value by 2.5%, translating to nearly $25,000 for a single upgraded home in Toronto.
- The importance of sustainable home features is rising in the GTA housing market, with energy efficiency being a key factor for over 80% of homebuyers, indicating a trend towards energy-conscious retrofitting and property enhancements.
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Moneyweb
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Cape Town’s sewage treatment isn’t coping: Scientists are worried
- Cape Town faces challenges with sewage treatment causing contamination in water bodies.
- Over 40 megalitres of raw sewage are discharged into the Atlantic Ocean daily.
- Research reveals hostility towards independent studies on contamination in Cape Town.
- Recommendations include addressing conflicts of interest and releasing real-time water quality data.
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Bloomberg Quint
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Trump Says He’s Weighing Federal Takeover of Washington, DC
- President Donald Trump mentioned in a cabinet meeting the consideration of taking control of Washington, DC to improve governance.
- Trump's chief of staff is in contact with DC Mayor Muriel Bowser, but the specific plan for the potential federal takeover was not disclosed.
- The relationship between Trump and Bowser has been mixed, with efforts to collaborate on certain issues despite occasional criticisms from Trump regarding crime and homeless encampments.
- The discussion of federal influence extended to New York City, with Trump warning against a communist candidate winning the mayoral race and hinting at exerting federal power if necessary.
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