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Schools Over A Good Home — How Lower Middle Class Spends For Tomorrow

For lower middle-class Indians, children's education is a higher priority than personal comfort, with education expenses increasing by 34% in the last year.
Two-thirds of Indians in this class earn an average of Rs 33,000 per month, spending around Rs 20,000 on essentials, leaving a gap of Rs 13,000 for savings and other expenses.
Despite rising living costs, only 50% of respondents reported saving in the current year, with 38% preferring to save in cash over formal options like bank accounts, LIC, property, or gold.
Lower middle-class individuals borrow for various purposes including buying appliances, home improvement, and travel, while 63% believe digital tools make pursuing financial goals easier.
Online retail payments now account for 51% of transactions, showing a growing trust in digital lenders, with UPI usage remaining high but a potential decrease if fees are introduced.

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Bought For Rs 64 Lakh In 2010, Hyderabad Flat Gives 0.5% Return: NRI's Costly Real Estate Investment Lesson

An NRI couple's real estate investment in a Hyderabad flat purchased in 2010 for Rs 64 lakh yielded only a 0.5% annualized return in USD terms over 15 years.
They faced challenges including currency depreciation, low rental yield, and opportunity costs impacting their real estate returns.
The couple bought a 3BHK flat in Hyderabad and sold it in 2024 for Rs 90 lakh after delays in possession and a tepid resale price.
The deal initially seemed profitable, but after expenses, they netted only Rs 84.9 lakh, including rental income of Rs 7.2 lakh.
Currency exchange rate fluctuations and opportunity costs diminished their returns substantially.
Had they invested in the S&P 500 index fund, they estimated their gains would have exceeded $3,30,000, highlighting the opportunity cost.
Challenges included property maintenance from abroad, low rental returns, liquidity issues, and underperformance of the location.
The NRI investor outlined key takeaways including the importance of considering USD-adjusted gains, opportunity costs, cash flow over capital gains, avoiding investments based on hype, and thorough financial analysis before real estate investments.
The experience underscores the realization that Indian real estate may not always be financially rewarding due to various factors impacting NRI investments.
In conclusion, the investor stressed the importance of being mathematically prudent in real estate investments.
The real estate investment experience serves as a cautionary tale for NRIs navigating the complexities and challenges of real estate investments in India.

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Biocon Shares Trade Higher After Board Sets Floor Price For Rs 4,500-Crore QIP

Biocon's shares surged after the company's board set the floor price for a Rs 4,500-crore qualified institutional placement (QIP) at Rs 340.20 per share.
The fundraising will be aimed at institutional investors, offering a possible 5% discount on the floor price.
The issue price for the QIP will be determined after consulting the book running lead managers.
The board previously approved raising capital through the issuance of various securities by way of qualified institutional placement or rights issue.
Biocon's share price rose 1.30% to Rs 361.90 apiece, later settling at Rs 359.20 apiece.
Analysts show a positive outlook on the company, with most recommending either a 'buy' or 'hold' rating on the stock.
Biocon's stock performance indicates a 7.02% rise in the last 12 months and a 1.95% fall year-to-date.
A 12-month analysts' price target suggests a potential 4.3% upside for Biocon.
Biocon has received approval for a generic diabetes medication by the CDSCO.
Biocon's total traded volume stood at 3.43 times its 30-day average, with a relative strength index at 68.25.

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Oswal Pumps IPO: Check Day Three Subscription Status, GMP, Price Band And More

Oswal Pumps' IPO worth Rs 1387.34 crore is currently open for subscription with a price band of Rs 584 to Rs 614 per share.
As of the third day, the IPO has been subscribed 2.42 times with a grey market premium of Rs 57, indicating a potential listing at Rs 671 per share.
The IPO includes a fresh issue and an offer for sale, with funds intended for Oswal Solar's new manufacturing unit and repayment of borrowings.
Oswal Pumps manufactures solar-powered submersible pumps, electric motors, and solar modules for various applications.
Subscription status on day three: Qualified institutional buyers at 0.29 times, non-institutional investors at 7.68 times, and retail investors at 1.35 times.
Grey Market Price (GMP) is Rs 57, but it's a speculative figure and not an official quote for the stock.

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Oakley Meta Smart Glasses Likely To Debut On June 20: What To Expect

Meta and Oakley are expected to unveil a new pair of smart glasses on June 20, likely designed for athletes.
A teaser shared online hints at a collaboration between Meta and Oakley, with the joint venture set to be officially revealed on June 20.
The teaser was first seen on a verified Instagram account named Oakley | Meta and included a video featuring both companies' official pages.
Meta CEO Mark Zuckerberg shared the teaser, adding to the excitement surrounding the upcoming smart glasses.
The teaser's presentation and branding suggest a strong likelihood of Oakley joining Meta's smart glasses lineup, following Meta's partnership with Ray-Ban.
Bloomberg's Mark Gurman had hinted at Oakley's involvement in January 2025, mentioning differences in design and target audience compared to the Ray-Ban Meta version.
Oakley's smart glasses, tailored for cyclists and athletes, will reportedly feature a centrally located camera, unlike the Ray-Bans.
EssilorLuxottica reported successful sales of over two million Ray-Ban Meta smart glasses, with plans to increase production capacity to 10 million units by the end of 2026.
Competition in the smart eyewear sector is intensifying, with Google partnering with Warby Parker and Gentle Monster, and Apple rumored to be developing its own smart glasses for a potential 2026 release.
The announcement on June 20 will reveal more about the Oakley Meta glasses, which could revolutionize performance eyewear for athletes.

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Google Pixel 10 Camera To Enhance Macro Photography With This Upgrade: Report

Google Pixel 10 is anticipated to be launched on August 20, with models like Pixel 10, 10 Pro, 10 Pro XL, and Pixel 10 Pro Fold.
A recent leak suggests that the Pixel 10 may feature a tele-macro camera for capturing macro images.
The tele-macro feature would enable the phone to take macro photos using the telephoto lens instead of the ultrawide sensor.
While the telephoto sensor would take images up to a certain distance, the ultrawide sensor would provide closer focus on the subject.
It's uncertain if the tele-macro camera feature will be available on all variants of the Pixel 10 series.
Besides the tele-macro camera enhancement, Google is also expected to improve image stabilization on the Pixel 10 devices.
The Pixel 10 Pro models may include a third camera sensor with a configuration of 50MP primary, 48MP ultrawide, and 48MP telephoto lenses.
The Pixel 10 Pro is speculated to have a thicker camera bar to accommodate the additional camera sensor.
The image stabilization on Pixel 10 is said to be akin to using a DJI Osmo Mobile 6 gimbal.
The Pixel 10 camera upgrades are aimed at enhancing the photography experience for users.
Google Pixel 10's launch event is set for August 20, generating excitement among photography enthusiasts.
The macro photography capability using the tele-macro camera could be a notable feature of the Pixel 10 series.
The improvements in image stabilization and camera setup are part of Google's efforts to attract users interested in smartphone photography.
The camera enhancements are anticipated to make the Pixel 10 series more appealing to users who prioritize camera quality in smartphones.
The addition of a tele-macro feature and other camera upgrades signify Google's focus on providing competitive camera capabilities in its upcoming devices.

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OnePlus Nord 5 Series, OnePlus Buds 4 Launch Date Revealed: Top Features, Price And More

OnePlus is set to launch the Nord 5 series and OnePlus Buds on July 8 in India.
The spotlight will be on Nord 5 featuring Snapdragon 8s Gen 3 SoC promising high-performance gaming and 144 FPS gameplay.
OnePlus Buds 4 offer Hi-Res Audio, LHDC 5.0 support, immersive 3D spatial audio, and sleek design in Storm Grey and Zen Green.
The devices are expected to be available for purchase through the official OnePlus store and Amazon, speculated to be priced under Rs 30,000.
There are rumors about the launch of OnePlus Watch 3 and OnePlus Pad Lite alongside the Nord 5 series and OnePlus Buds.
The Nord 5 model may have a 6,700mAh battery, while the Nord 5 CE could feature a 7,100mAh battery.

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Water Levels In Mumbai Lakes Improve To Nearly 10% Following Heavy Rainfall, Details Here

Water levels in the seven lakes supplying water to Mumbai have increased following heavy rainfall, reaching nearly 10% of total capacity.
The lakes include Bhatsa, Upper Vaitarna, Middle Vaitarna, Tansa, Modak Sagar, Vihar, and Tulsi spread across Mumbai, Thane, and Nashik districts.
The seven lakes currently hold a combined useful water content of 1,41,511 million litres, accounting for 9.78% of their total capacity.
In the past 24 hours, Upper Vaitarna, Middle Vaitarna, and Tansa lakes recorded 85,227 million litres of water, marking an improvement from the previous day.
Heavy rainfall in Mumbai led to increased levels in all lakes, with specific amounts of rainfall recorded in each lake.
The India Meteorological Department predicts further rainfall in Mumbai and surrounding areas, likely aiding in boosting the water levels.
IMD forecasts moderate rainfall today and tomorrow in Mumbai, with isolated heavy rainfall on June 19 and moderation returning on June 20.
An orange alert was issued for Mumbai due to heavy rainfall causing waterlogging and disruptions, with varying rainfall levels across different areas of the city.
Western suburbs like Santacruz East, Bandra Kurla Complex, and Bandra West recorded significant rainfall during the period of heavy showers.

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Tanla Platforms Shares Jump 8% As Board Approves Rs 175-Crore Stock Buyback Plan

Tanla Platforms Ltd. shares surged nearly 8% as the board approved a buyback of shares worth Rs 175 crore from the public.
The buyback involves repurchasing up to 20 lakh shares from the secondary market at Rs 875 per share, subject to shareholder approval and necessary statutory permissions.
The 12 promoter entities owning 45.49% of the company will not participate in the buyback, managed by Kotak Mahindra Capital Co.
The exact number of equity shares and percentage of the existing paid-up capital to be repurchased will be determined later.
Tanla Platforms share price rose 7.69% to Rs 707.70 per share, later trading at Rs 690.20, exceeding NSE Nifty 50's gain.
With a 27.8% fall in the past year, the stock's traded volume is 8.2 times its 30-day average, having an RSI of 73.
Two analysts recommend a 'buy' rating for Tanla Platforms, with a 12-month consensus price target indicating a 12.4% upside.

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Eppeltone Engineers IPO, Day One: Check GMP, Subscription Status, Price Band And More

Eppeltone Engineers Ltd. has launched its IPO to raise nearly Rs 44 crore from the primary market, offering 34.34 lakh new shares.
The IPO price band is set at Rs 125 to Rs 128 per share, with retail investors needing to apply for at least 1,000 shares.
The IPO allocation includes 50% for QIBs, 35% for retail investors, and 15% for NIIs/HNIs.
Eppeltone Engineers IPO subscription started on June 17, with closing and share allotment on June 19 and 20, respectively.
The tentative listing date for Eppeltone Engineers IPO is June 24 on NSE SME platform.
The GMP for Eppeltone Engineers IPO hovered around Rs 63, indicating a potential listing price of Rs 191 per share.
Eppeltone Engineers plans to utilize IPO proceeds primarily for working capital and showed strong financial performance in FY25.
Revenue for Eppeltone Engineers surged 57% YoY to Rs 125.74 crore in FY25, with PAT increasing by 38%.
Investments in IPOs carry market risks, and it is advisable to seek advice from financial advisors before participating.

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Vishal Mega Mart Shares Hit Over One-Month Low After Promoter's Stake Offload

Vishal Mega Mart's share price hit a one-month low after the promoter, Kedaara Capital via Samayat Services LLP, sold 10% stake in the company at a floor price of Rs 110 per share, a 12% discount to the last closing price.
In the block deal worth Rs 5,057 crore, 92.96 crore shares of Vishal Mega Mart changed hands on the National Stock Exchange at prices ranging from Rs 115.16 to 125 apiece.
This stake sale led to a 9.09% decline in Vishal Mega Mart's share price to Rs 113.5 apiece, the lowest level since April 30, with the stock later trading down 5.37% at Rs 118.5 apiece.
Vishal Mega Mart's script, after its intraday drop, was noted as experiencing the biggest decline since its listing. The stock has seen a 5.66% increase over the past 12 months and an 11.07% increase year-to-date.
There have been high trading volumes with the relative strength index at 40.46. Analysts' consensus shows seven 'buy' ratings for the company, one 'hold' rating, and one 'sell' rating.

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Max Financial Shares Touch Record High As Citi Initiates 'Buy'

Max Financial Services shares surged to a record high after Citi Research initiated coverage with a 'buy' rating and a target price of Rs 1,840.
Citi projects strong operating Return On Embedded Value (ROEV) for Max Financial, expecting it to outperform peers like HDFC Life and ICICI Prudential Life.
Axis Max Life Insurance, a key subsidiary, is planned for a reverse merger into the parent company, which Citi sees as a potential challenge.
Max Financial is anticipated to increase market share driven by a revived APE share and diversified product strategy.
Max Financial Services share price reached Rs 7,947.50, up 1.53%, later trading at Rs 7,905, with a YTD rise of 27.23% and a 12-month increase of 102.98%.
Of 24 analysts tracking the company, 21 suggest 'buy', two recommend 'hold', and one suggests 'sell', with an average 12-month consensus price target indicating a 1.5% upside.

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Max Financial Gets 'Buy' Rating As Citi Initiates Coverage

Citi Research initiated coverage on Max Financial Services Ltd. with a 'buy' rating and target price of Rs 1,840.
Key drivers for the 'buy' rating include sustainable operating Return On Embedded Value (ROEV) delivery, partnership scale-up, and product innovation.
Citi expects operating ROEV to remain strong at 17-18% over the medium term, outpacing competitors like HDFC Life and ICICI Prudential Life.
Max Financial, the key operational subsidiary for Axis Max Life Insurance, is planning a reverse merger with its parent company in the future.
Market share for Max Financial is expected to increase with a revived Annual Premium Market (APE) share, reaching 6.9% in fiscal 2025.
The company's diversified product and channel strategy is seen as a strength for navigating market cycles.
Downside risks highlighted by Citi include a sharp reduction in overall growth trajectory, competitive pressure, regulatory disruptions, and market volatility.
Upside risks identified include higher APE growth, favourable shift in value of new business margins, and lower regulatory headwinds for the reverse merger.
Citi notes that higher-than-expected APE growth, new product launches, and lower regulatory hurdles could provide investors with greater visibility.
It is emphasized that Max Financial is well positioned for sustainable growth and market share accretion.
The 'buy' rating reflects Citi's positive outlook on Max Financial's operational performance and strategic initiatives.
Overall, Citi's coverage initiation underscores confidence in Max Financial's potential in the insurance market.
Higher market share and sustained focus on product innovation are highlighted as key strengths for Max Financial's growth.
Max Financial's ability to successfully navigate market cycles is attributed to its diversified product and channel strategy.
The rating report suggests that Max Financial is in a favorable position to attract market share through distribution diversification.
The company's focus on tapping untapped customer cohorts via subchannels and prudent product innovation is seen as beneficial for sustainable growth.

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Mahanagar Gas Upgraded To 'Buy' As It Offers Better Growth At Attractive Valuation, Says Nomura

Nomura has upgraded Mahanagar Gas Ltd. to a 'buy' rating from 'neutral', setting a target price of Rs 1,680 per share.
The upgrade is based on MGL's better growth prospects and attractive valuation compared to its peers.
Key factors for the upgrade include strong expected volume growth and limited exposure to volatile industrial and commercial segments.
Challenges posed by the recent 18-20% reduction in gas allocation under the Administered Price Mechanism were addressed in the report.
Despite the allocation cut affecting supply of cheap APM gas for priority sectors like CNG and domestic PNG, MGL and IGL managed to mitigate the challenge with price hikes.
Gujarat Gas Ltd. faced challenges in the industrial and commercial segment due to low-cost propane gas and limited room for CNG business growth.
State policies promoting electric vehicle adoption continue to pressure CNG growth, with potential policy actions targeting CNG vehicles in Delhi.
Inclusion of natural gas under the GST regime could benefit businesses by streamlining tax structure and potentially reducing tax burden.
Nomura prefers MGL as its top pick due to highest expected volume growth and attractive valuation, while GGL is the least preferred pick.

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Arkade Developers Targets Overall 20% Growth In FY26, Led By New Projects

Arkade Developers Ltd. is aiming for a 20% growth in FY26 led by four new project launches including Filmistan and three redevelopment projects in Mumbai.
The company targets a top line revenue of Rs 3,500 crore to Rs 4,000 crore in FY26 from these launches.
They recently acquired a 6.28-acre land parcel in Thane for Rs 172.5 crore with an estimated gross development value of Rs 2,000 crore.
The Thane project will comprise five high-rise towers with two, three, and four BHK apartments, expected to be launched in early 2026.
Arkade Developers emphasizes the premium nature of the project with ample ground space for amenities, having secured principal approvals and awaiting environmental clearance.
Despite competition in Thane's real estate market, Arkade Developers sees it as an opportunity due to available land, market maturity, and affordability.

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