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Bloomberg Quint
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NTPC To Consider Raising Funds Worth Rs 18,000 Crore Via NCDs
- NTPC Ltd. plans to raise funds worth Rs 18,000 crore through non-convertible debentures as per an exchange filing.
- A board meeting is scheduled to be held on Saturday to discuss issuing secured/unsecured, redeemable, taxable/tax-free NCDs, subject to shareholder approval.
- Initially, NTPC will issue NCDs worth Rs 4,000 crore through private placement at a coupon rate of 6.89% per annum for a tenor of 10 years and one day, maturing on June 18, 2035.
- Before the announcement, NTPC's shares closed 0.53% higher at Rs 333.7 on the National Stock Exchange.
- Analysts tracking the company have mostly given a 'buy' rating on the stock, with an average 12-month price target suggesting a potential upside of 26.4%.
- NTPC's stock performance shows a 9.73% decline in the last 12 months and a 0.1% increase year-to-date.
- The board resolution for issuing the NCDs dates back to June 29, 2024, with subsequent approval by shareholders obtained on Aug. 29, 2024.
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TechCrunch
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The investor experience at TechCrunch All Stage: One floor, infinite deal flow
- TechCrunch All Stage offers VCs a unique opportunity to meet tech startups directly with no intermediary filters.
- The event in Boston on July 15 provides a chance to engage with founders, learn about their products, and provide feedback.
- Investors can skip traditional methods like pitch decks and panels and engage in genuine conversations with startup founders.
- TechCrunch All Stage allows investors to contribute by offering advice, learning from pitch sessions, and mentoring rising founders.
- The event is not just about sourcing deals but also about building connections and strengthening one's presence in the startup ecosystem.
- Participants can grow their platforms by advising founders who might lead to future investment opportunities.
- TechCrunch All Stage includes side events across Boston for networking and deeper dives into specific sectors.
- Deals, networking, exploring new verticals, and staying informed about the tech landscape are key aspects of the event.
- The event aims to provide value for investors interested in early-stage innovation and underrepresented founders.
- Early-bird pricing for the event ends on June 22, offering a discount of up to $210 for those booking early.
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Bloomberg Quint
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NDTV Profit Pulse On June 16 — Top 8 Stories At 8 P.M. Under 8 Minutes
- India's trade deficit narrowed more than expected in May as imports fell, offering relief to macro watchers. Wholesale inflation cooled to a 14-month low with food prices easing notably.
- Passenger vehicle sales slipped slightly in May, while Vishal Mega Mart and Sai Life Sciences shares are set to exit lock-in periods.
- Despite Middle East tensions, markets ended higher, and SBI cut savings deposit rates to a record low of 2.5%.
- Key headlines include the trade deficit narrowing to $21.88 billion in May, wholesale inflation easing to 0.39% in May, and the recovery of the Cockpit Voice Recorder from the Air India crash.
- Additionally, passenger vehicle sales dipped 0.8% in May, SBI slashed its savings account rate to 2.5%, and shares worth Rs 39,000 crore are set to exit lock-in periods.
- US President Donald Trump mentioned Israel and Iran may need to 'fight it out' before reaching a peace deal, while markets closed higher with Brent crude ending lower after early spikes.
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Bloomberg Quint
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Biocon Sets Floor Price At Rs 340.20 For Rs 4,500-Crore QIP
- Biocon has set the floor price at Rs 340.20 per share for a Rs 4,500-crore QIP.
- The fundraising will take place through qualified institutional placement.
- A discount of not more than 5% may be offered on the floor price.
- Biocon received government approval for a generic diabetes medication, Liraglutide, on June 3.
- Biocon Pharma, the company's subsidiary, also obtained approval for its Liraglutide drug product.
- Shares of Biocon closed 0.52% higher at Rs 357.25 apiece on the NSE.
- The stock has risen 8.80% in the last 12 months but fallen 2.22% year-to-date.
- Out of 18 analysts tracking the company, 10 have a 'buy' rating on the stock, 3 recommend 'hold', and 5 suggest 'sell'.
- The average of 12-month analysts' price target indicates a potential upside of 4.8%.
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Bloomberg Quint
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RIL Offloads More Asian Paints Shares In Rs 1,876-Crore Block Deal; ICICI Mutual Fund Steps In As Buyer
- Reliance Industries Ltd. (RIL) has sold shares worth Rs 1,876 crore in Asian Paints in a block deal, with ICICI Prudential Mutual Fund as the buyer.
- ICICI Prudential Mutual Fund acquired 85 lakh shares at Rs 2,207 apiece from Siddhant Commercials Pvt., continuing RIL's stake reduction in Asian Paints.
- Last week, RIL had sold 3.5 crore equity shares of Asian Paints through Siddhant Commercials at an average price of Rs 2,201 per share, totaling Rs 7,703 crore.
- After the recent transactions, Siddhant Commercials retained 87 lakh shares of Asian Paints.
- Asian Paints' shares closed 1.21% higher at Rs 2,241 apiece post the deal, outperforming the NSE Nifty 50's 0.98% increase.
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Bloomberg Quint
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Macrotech Developers Changes Name To Lodha Developers
- Macrotech Developers Ltd. has officially changed its name to Lodha Developers Ltd., approved by the Registrar of Companies under the Ministry of Corporate Affairs.
- The name change approval follows a dispute where Macrotech Developers accused House of Abhinandan Lodha of fraud and forgery, which the latter denied.
- Allegations include forging board resolutions, an independent director's signature, and a PAN card picture to change corporate names beginning with 'LODHA.'
- Macrotech Developers has set up a special committee to investigate and intends to take legal action against House of Abhinandan Lodha, excluding Mr. Abhishek Lodha from the committee.
- House of Abhinandan Lodha is reviewing the matter internally and denies the allegations of fraud and forgery made against them.
- There is an ongoing legal battle between the Lodha brothers regarding the right to use the 'Lodha' brand name for construction businesses.
- Macrotech Developers' stock closed 1.24% higher following the name change news, with analysts split between 'buy,' 'hold,' and 'sell' ratings on the stock.
- Despite analysts' mixed recommendations and a potential downside based on price targets, the stock has seen fluctuations in the past year in terms of performance.
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Bloomberg Quint
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Vishal Mega Mart Block Deal: Promoter Offers 10% Stake For Rs 5,057 Crore
- Indian private equity firm Kedaara Capital is set to reduce its shareholding in Vishal Mega Mart Ltd. via open market transactions by selling 10% equity for Rs 5,057 crore.
- Promoter Samayat Services LLP offered to sell 45.9 crore shares at a floor price of Rs 112 apiece, representing a 12% discount to the last closing price on NSE.
- Samayat Services currently holds 74.55% equity in Vishal Mega Mart as of March and the lockup period for the offloaded shares will be 150 days.
- Vishal Mega Mart's share price settled 1% higher at Rs 125 apiece on the NSE, showing a 12% increase in the last 12 months and an 18% increase this year.
- Out of nine analysts tracking Vishal Mega Mart, seven recommend a 'buy', one recommends a 'hold', and one recommends a 'sell' with varying price targets.
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Eu-Startups
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Barcelona-based cybersecurity startup Steryon raises €1 million for its industrial security platform
- Spanish cybersecurity startup Steryon secures €1 million in Seed funding to advance its industrial security platform.
- The funding will be used for technology development, team expansion, and customer deployment in industrial sectors.
- The investment round was co-led by 4Founders Capital and Abac Nest Ventures.
- Steryon plans to enhance its national and international presence following collaborations with various sector operators.
- Founder and CEO Maria Taberna aims to revolutionize industrial cybersecurity by offering integrated and strategic solutions.
- Steryon, established in 2024, focuses on providing AI-based cybersecurity for industrial environments, aligning cyber risk management with operations.
- Taberna, with extensive experience in industrial cybersecurity, leads a skilled team specializing in OT security.
- Steryon's platform streamlines continuous visibility, regulatory compliance, and operational impact remediation in complex OT/ICS environments.
- The startup's AI technology offers actionable intelligence by prioritizing threats and simplifying complex data.
- 4Founders Capital sees Steryon as a high-impact initiative driven by knowledgeable leaders with a clear vision and focused execution.
- Abac Nest Ventures supports Steryon for its modular AI technology and real impact focus in industrial cybersecurity.
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Bloomberg Quint
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RBI Approves Reappointment Of Sandeep Batra As ICICI Bank Executive Director
- The Reserve Bank of India has approved the reappointment of Sandeep Batra as the executive director of ICICI Bank Ltd. for a period of two years.
- Batra's reappointment is subject to approval from the company's shareholders as per an exchange filing on Monday.
- RBI also approved the reappointment of Rakesh Jha as the bank's executive director for a two-year period starting from Sept. 2, 2025.
- In May, RBI penalized ICICI Bank for non-compliance with regulations, imposing a penalty of Rs 97.8 lakh.
- ICICI Bank's shares closed 0.76% higher at Rs 1,426.90 apiece on the NSE, showing a 27.08% rise in the last 12 months and a 11.33% rise year-to-date.
- Of 53 analysts tracking ICICI Bank, 50 have a 'buy' rating on the stock, while three recommend 'hold', with an average price target implying a potential upside of 14.7%.
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Massivelyop
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Stars Reach talks up its Wild Wormholes update in latest livestream, preps one day open test for June 19
- Stars Reach received an update called Wild Wormholes, which includes procedural planet generation tech.
- Playable Worlds is excited about the update and held a livestream discussing wild wormholes over the weekend.
- The livestream covered details about entering wild wormholes, the differences in integration, and the size of procedural maps.
- The update included fixes like ensuring players are returned to a stable planet when logging out on a wild world.
- A limited-time open playtest is planned for June 19th, with a Kickstarter access tier giveaway during the livestream on the same day.
- The chosen winner must be present to claim the prize during the livestream.
- Stars Reach's latest Kickstarter post summarizes all patches, provides links to past livestreams on YouTube, and shares the playtest schedule.
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Bloomberg Quint
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Samsung Galaxy Z Fold 7, Galaxy Z Flip 7 Launch In July: Here's What To Expect
- Samsung is set to launch Galaxy Z Fold 7 and Galaxy Z Flip 7 in July to expand its foldable lineup.
- The upcoming foldable devices are expected to feature Gemini Live, a two-way conversational AI function.
- Tipster @PandaFlashPro shared details on Samsung's plans for the new foldables, emphasizing Gemini Live.
- Gemini Live allows users to have conversations with Google's AI chatbot and ask questions.
- Samsung may focus on the Galaxy Z Fold 7's camera, including a new 200MP primary shooter and ProVisual Engine.
- The Galaxy Z Flip 7 could receive minor upgrades with an emphasis on enhanced photo quality.
- Samsung is likely to highlight the Galaxy Z Fold 7's thinness, ultra-thin glass, redesigned hinge, and rumored titanium backplate.
- The device may also have improved resistance to dust and water.
- Samsung has teased features for the Z Fold 7 while Z Flip 7 has been on the backburner.
- Both devices are expected to be unveiled with Gemini Live as a key feature.
- The Galaxy Z Flip 7 may receive enhancements for its photo quality.
- The Galaxy Z Fold 7 could showcase a thinner profile and new camera capabilities.
- Rumors suggest the Z Fold 7 may have a titanium backplate and enhanced durability against dust and water.
- Samsung is likely to focus on camera improvements and design enhancements for the new foldable devices.
- The devices are anticipated to be unveiled in July with Gemini Live and camera upgrades as key highlights.
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Global Fintech Series
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BlackLine Appoints Former Deloitte Global Executive Sam Balaji to Board of Directors
- BlackLine appoints Sam Balaji, former Deloitte Global Executive, to its Board of Directors.
- Sam Balaji brings over three decades of leadership experience in scaling technology businesses, with expertise in enterprise software, AI, cybersecurity, and global strategies.
- Balaji spent 28 years at Deloitte, serving as CEO of Deloitte Consulting, driving growth through investments in Cloud, AI, and Cyber.
- He led mergers and acquisitions to accelerate Deloitte's global expansion and formed key go-to-market relationships.
- Owen Ryan, BlackLine's Co-CEO and Board Chair, highlights Balaji's expertise in scaling businesses and global strategies.
- Therese Tucker, Founder and co-CEO of BlackLine, praises Balaji's strategic thinking, leadership, and ability to navigate complexity.
- Balaji expresses his honor in joining BlackLine's Board, emphasizing the company's vision and AI-driven transformation in digital finance.
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Bloomberg Quint
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US Stock Market Today: Dow Jones Up 290 Points, Nasdaq Jumps 1% Despite Middle East Tensions
- The US stock market saw positive gains today despite Middle East tensions.
- The Dow Jones Industrial Average rose by 290 points, Nasdaq surged 1%, and the S&P 500 climbed to over 6,000 points.
- Tech stocks led the market higher, with chipmaker AMD gaining nearly 6% and companies like Micron Tech and Adobe seeing increases.
- The US dollar weakened against major currencies, and the 10-year US Treasury bond yield rose to 4.43%.
- Despite weaker-than-expected US manufacturing data, markets are anticipating the Federal Reserve to maintain interest rates unchanged.
- Gold prices dropped as investors shifted to riskier assets, and Brent oil prices decreased following initial concerns over supply disruptions due to the Middle East tensions.
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Bloomberg Quint
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Tanla Platforms Buyback: Board Sets Price For Rs 175-Crore Offer
- Tanla Platforms Ltd.'s board of directors set the price for a buyback of shares worth Rs 175 crore from the public at Rs 875 apiece.
- The 12 promoter entities, owning 45.49% as of March, will not participate in the buyback.
- Kotak Mahindra Capital Co. is managing the buyback process.
- The buyback offer is subject to shareholder approval through a special resolution and other statutory approvals.
- The exact number of equity shares bought back will be determined post completion of the buyback.
- Foreign investors hold 9.63% equity, domestic financial institutions own 0.96%, and retail investors hold nearly 9% in Tanla Platforms.
- Tanla Platforms' stock closed 1.4% lower at Rs 657.15 per share on the NSE before the buyback announcement.
- The stock has dropped 31% in the last 12 months and 2% year-to-date.
- Two analysts have a 'buy' rating on Tanla Platforms' stock with a 12-month price target indicating a potential 7.6% downside.
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Bloomberg Quint
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Oberoi Group Announces CSR Framework 'Elements' With Sustainability Push
- The Oberoi Group has announced a new CSR framework named 'Elements' with a focus on sustainability.
- The framework is guided by the elements of Earth, Water, and Air to reduce ecological impact and uplift communities.
- It involves integrating organic farming, sustainable practices, waste management, and eliminating plastic usage in Oberoi Hotels and Resorts.
- Circular water management practices and sustainable laundry operations are part of their water conservation efforts.
- The company aims to reduce its carbon footprint through clean energy implementations and air purification systems.
- By 2030, Oberoi Hotels and Resorts plan to recycle 100% of waste water, reduce fresh water consumption, and transition to renewable energy sources.
- The group also supports surrounding communities through local art integration and talent collaborations.
- The commitment to sustainability and responsible growth is deeply embedded in their operations and decision-making processes.
- The 'Elements' framework emphasizes sustainability as a key value guiding their approach towards building and serving.
- Through eco-friendly practices, Oberoi Group aims to create meaningful experiences for guests while caring for the environment and communities.
- Vikram Oberoi, CEO of The Oberoi Group, highlighted that sustainability is an integral part of their guest experience and community engagement.
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