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Bloomberg Quint

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India Might Finally Be Swapping Its Desi Daru For Premium Whisky

India's liquor industry is shifting from mass-market bottles to premium labels, favoring quality over quantity.
Premium whisky now constitutes 39% of the volumes for top brands, with the regular segment shrinking by 5% annually over five years.
ICICI Securities noted that leading players are focusing on premiumization for higher margins, with a 'buy' rating on Radico Khaitan and Allied Blenders.
The trend towards premiumization is driven by the evolving Indian consumer, profitability concerns, and market challenges like high taxes and raw material inflation.
From 2019 to 2024, the regular segment declined by 5% annually, while mid and upper prestige categories grew at rates of 11% and 6%, respectively.
The P&A segment witnessed a 6% year-on-year growth in 2024, with mid and upper prestige tiers driving demand and increasing market share for top players.
Notable performers in the premium segment include Iconiq White and Radico Khaitan’s After Dark whisky, with significant volume increases in 2024.
Conversely, mass-market brands like Imperial Blue, Officer’s Choice, 8PM, and 8PM Premium Black experienced volume declines, prompting strategic exits by companies like Pernod Ricard.
Pernod Ricard is looking to divest from Imperial Blue to focus on higher-margin brands, while United Spirits is refreshing its lineup with strong growth in brands like Royal Challenge, Signature, and Black Dog.
While low-priced liquor still has a presence in India, the trend is clearly moving towards premiumization.

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Bloomberg Quint

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India's Valuation Not Expensive Given Earnings Growth, Says Julius Baer's Mark Matthews

India's valuation appears reasonable considering the earnings growth and economic prospects it offers, according to Julius Baer's Mark Matthews.
Mark Matthews mentioned that if India Inc. sustains earnings growth around 10-15% over three years, the current NSE Nifty 50 trading valuation at 20 times forward earnings is not expensive.
India is witnessing increased foreign fund inflows amidst a declining dollar index, indicating strength on various fronts.
Factors contributing to India's positive outlook include strong growth, decreased inflation, rate reductions by the Reserve Bank of India, and increased public sector capital expenditure.
An estimated 12 crore people are expected to join the working-age population, likely boosting the per capita GDP and encouraging stock investments.
Mark Matthews advised investors to capitalize on market weaknesses, emphasizing banks as a focal point for investment due to their pivotal role in the economy.
Amid concerns in the IT sector, opportunities exist in industries like materials, hospitals, and consumer goods according to Matthews.
The US benefits from rising oil prices due to its status as a net crude oil exporter.
Recent tensions between Israel and Iran have escalated oil prices towards $80 per barrel, with potential future consequences looming.
The S&P 500 is displaying positive trends, with significant upward movement since April, signaling strength in the US markets according to Matthews.

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Bloomberg Quint

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Crude Prices: Another Conflict Raises Geopolitical Premium - Impact On Indian Oil And Gas Companies

Crude oil prices have been subdued over the last 12 months due to demand uncertainty and adequate supplies, offsetting issues like the Russia-Ukraine conflict.
Recent Israel air strikes on Iran and subsequent retaliation by Iran have caused a 7% increase in Brent crude prices in the last two days, acting as a catalyst for the rising prices.
Israel has been embroiled in conflict over the past 15 months, with an attack by Hamas and other Palestinians into Southern Israel leading to ongoing military actions by Israel.
ICICI Securities has recommended a 'Buy' rating for companies like HPCL, BPLC, and GAIL India, among others, in light of the evolving geopolitical situation and its impact on oil and gas companies.

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Bloomberg Quint

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What Ashish Kacholia, Madhusudan Kela, Samit Vartak, Vijay Kedia Have Bought So Far In FY26

Prominent investors like Madhusudan Kela, Vijay Kedia, Samit Vartak, and Ashish Kacholia have made notable equity purchases in select small-cap companies during FY26.
Madhusudan Kela purchased 4.6 lakh shares of Shankara Building Products Ltd at Rs 926.1 apiece, amounting to Rs 42.6 crore.
Vijay Kedia acquired 1 lakh shares of Advait Energy Transitions Ltd. for Rs 17.25 crore, representing 0.92% equity in the company.
Samit Vartak bought 3 lakh shares of Shankara Building Products and Madhusudan Kela purchased another 4.6 lakh shares in the same company.
Ashish Kacholia added a 0.92% stake in Som Distilleries & Breweries Ltd. for Rs 10 crore, a company that has seen significant revenue growth and turned profitable recently.

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Bloomberg Quint

437

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GenZ, Content And Consumption | Open Interest

Pay TV subscriber numbers are declining globally, with a steep decline observed in India, paving the way for smart TV adoption.
India's traditional content distribution channels like cable TV are being disrupted as households, led by GenZ decision-makers, are shifting towards smart TVs and internet-enabled devices.
Between December 2020 and December 2024, India witnessed a significant increase in internet subscribers while experiencing a decline in cable TV and Pay DTH subscribers.
The rise in Average Revenue Per User for wireless services in India coincided with a reduction in cable TV subscriptions, attributing the shift to data-driven OTT content and connected TVs.
An EY report predicts that Pay TV subscribers in India could decrease to around 7 crore by 2030, amidst the rapid adoption of internet-enabled and connected TVs.
Broadband adoption in India has been accelerated by the rise of work-from-home and study-from-home models, with telcos and private cable operators actively expanding their broadband services.
The availability of affordable data has led to a decrease in reliance on traditional linear TV, with internet-enabled TVs offering built-in OTT platforms.
Globally, the decline in Pay TV subscribers is notable, particularly in India, due to the prevalent transition to OTT and connected TV platforms.
As affordable broadband becomes more accessible, the trend of cord-cutting is expected to intensify with households adopting a 'triple play' model of mobile, connected TV, and broadband internet.
The shift towards on-demand content and internet-enabled TVs has disrupted the traditional cable TV business, compelling cable operators to offer bundled services including broadband connectivity.
Nearly half of local cable operators have ventured into broadband services to supplement revenue as content costs rise and traditional cable TV revenues decline.

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Bloomberg Quint

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Delhi-Bound Air India Flight Returns To Hong Kong After Pilot Suspects Technical Issue

A Delhi-bound Air India flight from Hong Kong returned to its origin airport after the pilot suspected a technical issue.
The flight landed safely in Hong Kong, passengers disembarked, and the aircraft is undergoing inspection.
The flight departed from Hong Kong at 12.16 p.m. local time and was supposed to land in Delhi at 12.20 p.m. IST.

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Bloomberg Quint

324

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Pharma, Chemicals Drive India’s $5.9 Billion Exports To Canada In 2024

India's bilateral trade in goods with Canada reached $9.8 billion in 2024, with India exporting $5.9 billion and importing $3.9 billion.
Bilateral services trade between India and Canada stood at $13.7 billion in 2024, with India exporting services worth $2.58 billion.
Over 600 Canadian companies operate in India, while Indian companies are active in Canada in various sectors.
India's pharmaceutical exports to Canada increased by 20.4% in 2024 to $511.79 million.
Key Indian drugmakers like Dr. Reddy's, Sun Pharma, and Cipla have strengthened their presence in Canada.
India exported $225.91 million worth of organic chemicals to Canada in 2024.
Canada remains a key supplier of raw materials like potash to India, with imports seeing a decline from April to December 2024.
Indian firms like Coromandel International and Chambal Fertilizers have agreements with Canadian exporters for potash supply.

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Bloomberg Quint

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Monolithisch India IPO, Final Day: Check GMP, Subscription Status, Allotment Date And More

The Monolithisch India IPO saw a grey market premium (GMP) of Rs 46 on June 16, indicating a potential listing gain of over 32%.
The IPO was fully subscribed on Day 1 and oversubscribed over 8 times by Day 2, with significant interest from non-institutional investors and high demand on Day 3.
Monolithisch India primarily manufactures products for induction furnaces, specializing in heat insulation refractory solutions.
The IPO will raise Rs 82.02 crore through a fresh issue of 57.36 lakh shares with a price band of Rs 135 to Rs 143 per share.
Subscription status on Day 3 showed oversubscription of 182.01 times, with strong interest from Qualified Institutions, Non-Institutional Buyers, and Retail Investors.
The IPO's allotment status will be finalized on June 17, with shares being credited to successful bidders' Demat accounts on June 18, and listing on NSE SME platform on June 19.
Investors can check the allotment status online from June 17, and the company plans to use IPO proceeds for various purposes including capital expenditure and working capital requirements.
Monolithisch India reported a significant YoY rise in profit after tax (PAT) and total income for FY25 compared to FY24.

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Bloomberg Quint

189

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ONGC Shares Touch Four-Month High, Oil India Extends Rally Amid Escalating Israel-Iran Tensions

Crude prices have seen a reversal in recent months due to escalating Israel-Iran tensions in the Middle East.
Shares of oil companies like ONGC and Oil India rose amid increasing global crude prices.
ONGC shares reached a four-month high at Rs 256.89 before trading 1.81% higher at Rs 256.60.
Oil India stock touched a five-month high at Rs 491.50, trading later 1.58% higher at Rs 485.15.
Brent crude surged up to 5.5% on Monday, with brent futures trading at $74.89.
Brent crude prices had dipped below $59 in May but rebounded to over $78 due to tensions.
Israel's attack on the South Pars gas field and potential issues at the Strait of Hormuz impact oil market fears.

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Economic Times

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Cross-border digital payments startup Aspora raises $93 million from Sequoia Capital, Greylock and others

Cross-border payments startup Aspora raised $93 million over three equity funding rounds between September 2024 and May 2025, valuing the company at $500 million.
The London-based startup provides remittance services to immigrant diaspora and received its first institutional funding of $5.8 million from Hummingbird Ventures in 2022.
Aspora raised an additional $5 million in September 2024, followed by a $35 million infusion led by Sequoia Capital and Greylock Partners.
In the latest funding round, Aspora secured $53 million, with investments from Sequoia Capital, Greylock Partners, and Quantum Light, among others.
Notable angel investors in the recent round included Balaji Srinivasan, Sundeep Jain, and Prasanna Sankar.
The total amount raised by Aspora since its inception exceeds $98 million.
Aspora, which started in Bengaluru, is now headquartered in London to aid global operations.
This marks Sequoia Capital's first significant investment in an Indian-origin startup targeting Indian consumers.
Sequoia Capital's India entity, now known as Peak XV Partners, is actively seeking early investment opportunities globally.
Aspora was previously named Vance but rebranded due to brand identity issues after JD Vance's political venture.
The startup serves around 250,000 users facilitating remittances to India and plans to expand its services to the US, Canada, Australia, and Singapore.
Aspora's user acquisition strategy involves community referrals and performance marketing, keeping customer acquisition costs low.
The company's presence extends across the UK, the European Union, and the UAE, with active user groups promoting the platform.
Aspora competes with established players like Remitly and Wize, disrupting the traditional dominance of banks and Western Union in the remittance sector.

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Bloomberg Quint

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Delayed Siri Update Could Be Launched In March-April 2026: Report

Apple has an internal target to launch a delayed Siri update alongside iOS 26.4 in March-April 2026, as per Bloomberg's Mark Gurman.
The updated Siri was initially previewed at WWDC 2024 but faced continuous delays in subsequent software releases.
Engineering issues caused multiple postponements, with the company missing previous expected roll-out dates.
The new Siri is anticipated to utilize Large Language Model (LLM) AI technology, aiming to enhance functionalities like setting alarms and more.
There has been internal blame within Apple between the AI, engineering, and marketing teams regarding the delay in launching the upgraded Siri.

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SiliconCanals

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Wageningen-based Scope Biosciences lands fresh capital to advance CRISPR-based molecular diagnostics platform

Wageningen-based Scope Biosciences secures follow-on investment from SHIFT Invest and Oost NL to advance its CRISPR-based molecular diagnostics platform.
The company, founded by CEO Niek Savelkoul and headquartered in Wageningen, has raised a total of €6M in seed-stage funding along with support from European and Dutch innovation programs.
Scope Biosciences' scopeDx technology enables ultra-precise, field-ready diagnostics without proprietary hardware, targeting agricultural and healthcare markets.
The platform offers single-nucleotide detection in a portable format, aiding in earlier crop disease detection and improving healthcare testing accessibility.
The company has received continued backing from existing investors SHIFT Invest and Oost NL, combining public and private funding to scale up its operations.
The technology developed by Scope Biosciences originated as a spin-off from Wageningen University & Research, focused on molecular diagnostics.
SHIFT Invest and Oost NL bring sector-specific and regional innovation expertise, respectively, to support the company's growth.
Scope Biosciences aims to bring its technology closer to market with the additional funding secured for real-world diagnostic challenges.
The company's innovative diagnostic platform is driving growth in the molecular diagnostics market, meeting the demand for point-of-care testing solutions.
Scope Biosciences operates from the Wageningen Campus within the East Netherlands region, showcasing commercial success in agricultural diagnostics and expanding into healthcare applications.
The company's efforts align with the regional innovation hub's goal to support global diagnostic solutions.
CEO Niek Savelkoul expresses gratitude for continued support and highlights the company's commitment to scaling up and addressing diagnostic challenges.
Associate at SHIFT Invest, Sophie van Weede, commends ScopeBio's progress in commercializing accurate diagnostic platforms and expanding into healthcare.
Investment Manager at Oost NL, Maureen Haverkamp, expresses pride in supporting ScopeBio's growth and innovation in regional and global contexts.
Scope Biosciences' technology offers promising solutions for agriculture and healthcare markets, leveraging CRISPR-based molecular diagnostics for effective testing.
The company's success reflects its ability to provide on-site, precise diagnostics without the need for central laboratories, supporting faster and efficient testing processes.

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Bloomberg Quint

414

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Tata Motors Share Price Hit One-Month Low As Free Cash Flow In FY26 Expected To Be Close To Zero

Tata Motors share price hit a one-month low, falling by over 5% to Rs 672.95, the lowest level since May 9.
The company signaled that free cash flow for the year is expected to be close to zero, leading to concerns about profitability and cash generation in the near term.
Jaguar Land Rover (JLR) shared a muted outlook for the fiscal year and reduced its EBIT margin guidance to 5–7% from the previous 10% expectation.
Challenges in the China premium passenger vehicle market, including intense competition and aggressive discounting, have impacted JLR's performance, leading to a downward revision in volumes and margins.
Tata Motors aims for JLR's year-on-year improvement in financial years 2027 and 2028, supported by investments and operational streamlining.
The company plans significant capital expenditure of approximately Rs 2.09 lakh crore between fiscal 2024 and fiscal 2028 to support its investment roadmap.
To counter challenges, Tata Motors reaffirmed commitment to its Enterprise Mission to deliver annual efficiencies and aims to bring JLR back to a 10% EBIT margin target gradually.
JLR is preparing for the launch of the first model under the Freelander brand in the second half of the fiscal year ending March 2026.
Tata Motors shares also saw a decrease in analyst ratings, with 18 'buy,' 11 'hold,' and 6 'sell' recommendations out of 35 analysts.
The average 12-month consensus price target suggests a downside/upside of 10.9% for Tata Motors.
The company's shares have fallen 31.32% in the last 12 months and 7.82% year-to-date, with trading volume at 1.2 times the 30-day average.

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Bloomberg Quint

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Israel–Iran Conflict: Impact On India Is Limited Due To Less Import Dependence

The recent Israel-Iran conflict is expected to have limited impact on India due to its decreased import dependence on Iran, with India having stopped importing oil from Iran in 2020.
In case average crude oil prices surge by 25% over a six-month period, India's trade and current account deficit may increase by $15 billion, equivalent to 0.3% of GDP, leading to a decline in real-GDP growth by 0.2% and an increase in retail inflation by 0.7%.
India's heavy reliance on oil imports could result in a spike in Brent crude prices should tensions escalate further between Iran and Israel, impacting various sectors such as oil marketing companies, paints, automobiles, and cement.
Israel's recent air strikes against Iran have led to the deaths of top military officials and nuclear scientists, causing oil prices to rise significantly, with brent crude trading higher at $74.96 a barrel.
Iran, a significant global crude oil producer, is currently under a US embargo, with a major portion of its oil exports going to China.
Iran's strategic control over the Strait of Hormuz and influence on the Bab el-Mandeb Strait through Yemen gives it the capability to disrupt global oil trade.
Around 70% of oil supply to Asia, including India, passes through the Strait of Hormuz and Bab el-Mandeb Strait, highlighting the potential impact of any disruptions caused by the conflict.
Past instances suggest that previous events involving Iran and Israel have not had a lasting effect on global oil prices.
The ongoing missile and drone exchanges between Israel and Iran have resulted in casualties, with 224 reported by Bloomberg so far.
The conflict has led to tension in the region, with implications on global oil trade and prices, although the impact on India is relatively limited.
Despite the conflict, India's reduced import reliance on Iran and diversified oil sources contribute to a minimized direct impact on the country's economy.
Israel's military actions against Iran have stirred international concerns, leading to fluctuations in oil prices amid fears of supply disruptions.
While the conflict between Iran and Israel remains a point of global attention, India's economic exposure to the situation is buffered by its reduced dependence on Iranian oil imports.
The events in the Israel-Iran conflict are closely monitored for potential impacts on global oil markets and trade routes, with India being watchful of oil price movements.
The conflict highlights the geopolitical volatility in the region and its potential implications on global energy markets and trade relationships.
Considering India's diversified energy sources and reduced reliance on Iranian oil imports, the immediate impact of the Israel-Iran conflict on India's economy is expected to be limited.
The overall impact of the Israel-Iran conflict on India's economy is projected to be constrained, barring significant and sustained escalations leading to broader global economic repercussions.
India's resilience to potential oil price spikes due to the conflict is bolstered by its strategic oil reserves and the availability of alternate energy sources, ensuring stability in its energy supply.

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TechCrunch

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Aspora gets $50M from Sequoia to build remittance and banking solutions for Indian diaspora

Aspora, formerly Vance, secures $50 million in Series B funding co-led by Sequoia and Greylock to develop remittance and banking solutions for the Indian diaspora.
Inward remittances to India have shown significant growth, creating a demand for digitalized banking experiences for non-resident Indians (NRIs).
Aspora primarily focuses on remittances and has seen a 6x increase in volume, processing $2 billion yearly.
The company underwent a $35 million Series A funding and subsequent Series B funding round, raising a total of $85 million to date.
Expanding its presence in various markets, Aspora charges a flat fee for money transfers, offers competitive rates, and now enables customers to invest in mutual funds in India.
Plans for further expansion include launches in the U.S., Canada, Singapore, and Australia, aiming to provide a comprehensive suite of financial tools for NRIs.
Upcoming product launches by Aspora include bill payment platforms, fixed deposit accounts, and full-stack banking accounts for NRIs.
Additionally, Aspora plans to introduce services to assist NRIs in taking care of their parents back in India, including medical checkups and emergency care coverage.
Sequoia's Luciana Lixandru is optimistic about Aspora's approach, emphasizing the importance of speed and focused execution in the financial services sector.
Aspora faces competition from global players like Remitly and Wise, as well as India-based rivals like Abound, spun off from Times Internet.

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