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Bloomberg Quint
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Dreamfolks Share Price Settles 4% Lower As Pressure Ramps Post Axis Bank, ICICI Bank Program Terminations
- Dreamfolks Services Ltd. shares settled nearly 4% lower on the bourses after the closure of certain programs with Axis Bank and ICICI Bank.
- This marked a third consecutive session of losses, with the stock tumbling 6% intraday.
- The company stated that the deactivation of existing programs is part of its regular operations and it is taking actions to mitigate the impact.
- Dreamfolks' shares have fallen significantly recently, with reports of major banks and card networks looking to part ways with the lounge access aggregator.
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Bloomberg Quint
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Rupee Closes At Over One-Month High On Trade-Deal Prospects
- The Indian rupee closed at a one-month high of 85.32, marking a 39 paise gain, driven by prospects of a trade agreement with the United States.
- President Trump's trade deal with Vietnam heightened expectations for a similar agreement with India before the July 9 deadline.
- The rupee's performance outpaced most Asian currencies, finding support on anticipated foreign capital inflows and positive trade deal outlook.
- In the currency market, the dollar index remained flat, while Asian currencies rose following the positive trade sentiments.
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Bloomberg Quint
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Bank of Baroda Q1 Updates: Domestic Deposits Jump 8%
- Bank of Baroda's domestic deposits increased by 8.1% year-on-year to Rs 12.04 lakh crore in the quarter.
- The global business for the quarter rose by 11% to Rs 26.4 lakh crore.
- The bank's domestic advances grew by 13% to Rs 9.92 lakh crore, with domestic retail advances seeing a 17% increase.
- Bank of Baroda decreased its marginal cost of funds-based lending rate by 5 basis points post RBI's rate reduction.
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Bloomberg Quint
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AIIMS Delhi And ICMR: No Link Between Covid Vaccine And Sudden Heart Attacks In Young People
- A study by AIIMS-Delhi and ICMR found no link between COVID-19 vaccination and sudden cardiac arrests in young individuals.
- The study examined 300 cases of sudden death under the age of 40 and identified lifestyle factors like smoking, drinking, and other health issues as main causes.
- Dr. Narang from AIIMS mentioned that vaccines have shown to reduce infection severity and complications, emphasizing the benefits of vaccination.
- Recommendations included lifestyle changes like exercise, healthy diet, and addressing heart health risks associated with COVID-19 infections.
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TechBullion
2w
297
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Custom Software Development: A Strategic Investment for Business Growth
- Custom software development is crucial for businesses requiring unique solutions in a competitive market.
- Tailor-made software aligns operations with specific needs, ensuring scalability, security, and performance.
- From ERP systems to retail platforms, custom software enhances efficiency and competitiveness across industries.
- Future trends include AI integration, cloud-first approaches, and IoT-compatible platforms for smart solutions.
- Investing in custom software is a strategic move for businesses aiming for innovation and growth.
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Bloomberg Quint
2w
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L&T Finance Q1 Updates: Retail Loan Book Rises 18%, Urban Finance Leads
- L&T Finance's retail loan book increased by 18% to Rs 99,800 crore in the quarter ended June 2025 compared to the same quarter last year.
- Retail disbursements rose by 18% to Rs 17,510 crore, with the urban finance segment leading with Rs 6,850 crore.
- The company reported that retailisation was at 98% in the first quarter of this fiscal, up from 95% in the year-ago period.
- L&T Finance's stock settled 1.5% lower after the business update was shared, with analysts showing mixed opinions on the stock's performance.
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Bloomberg Quint
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Stainless Steel Industry Calls For Safeguard Measures To Protect Local Players
- Jindal Stainless Managing Director Abhyuday Jindal calls for protectionist measures to curb cheap stainless steel imports and safeguard the interests of local players.
- Jindal emphasizes the importance of protecting the country against unfair trade practices in the steel industry, citing examples of protective measures adopted by other nations like the US and Europe.
- India has sufficient stainless steel production capacity but still relies on imports for about 30% of consumption, impacting domestic investments and utilization levels.
- Jindal advocates for a separate National Stainless Steel policy and taxonomy to support the growth of the domestic stainless steel sector, highlighting the need for a conducive policy environment and sustained demand momentum.
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Bloomberg Quint
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387
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Defence Acquisition Council Approves Rs 1.05 Lakh-Crore Worth Purchases
- Defence Acquisition Council, chaired by Defence Minister Rajnath Singh, approved 10 capital acquisition proposals worth approximately Rs 1.05 lakh crore through indigenous sourcing.
- The approved purchases include Armoured Recovery Vehicles, Electronic Warfare System, and Surface-to-Air Missiles to enhance mobility, air defense, and supply chain management.
- Additional procurements such as Moored Mines, Mine Counter Measure Vessels, and Super Rapid Gun Mount were also approved to mitigate risks for naval and merchant vessels.
- The acquisitions aim to boost operational preparedness of the armed forces and promote indigenous design and development under the Buy (Indian-Indigenously Designed Developed and Manufactured) category.
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Bloomberg Quint
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India May Be Subject To Lower US Tariffs Compared To APAC Nations: Moody's
- Moody's Ratings suggest that India may face lower tariffs compared to other APAC countries, potentially attracting more investment and becoming a global manufacturing base.
- While negotiations are expected to reduce tariffs and trade barriers bilaterally, uncertainty in trade policies poses challenges for investment decisions and disrupts trade.
- Countries like Vietnam and Cambodia, affected by high US tariffs due to diversification of investment away from China, face elevated credit risks.
- India, aiming to benefit from tariff-driven shifts, signed a free trade deal with the UK and is negotiating with the US for greater market access and duty concessions.
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Bloomberg Quint
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IDFC First Bank Dividend: Record Date Announced — Check Details Here
- IDFC First Bank has announced July 11 as the record date for dividend distribution of Re 0.25 for the financial year 2024-25, amounting to Rs 183.1 crore.
- The bank reported a decline in standalone net profit to Rs 304 crore for the fourth quarter, attributed to increased provisions, particularly for its stressed microfinance institutions portfolio.
- Provisions and contingencies doubled to Rs 1,450.47 crore compared to the previous year, mainly due to higher slippages in the MFI loan book.
- The stock of IDFC First Bank closed 0.53% higher at Rs 77.66 apiece, with analysts offering varied ratings, and a potential downside of 4.4% as per Bloomberg data.
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Bloomberg Quint
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387
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Delhi Vehicle Policy Set For Tweak: Govt Says Fuel Ban Not Feasible, All Old Cars Won't Be Scrapped
- The Delhi government has decided to backtrack from its 'End-of-Life' vehicle policy, which would have phased out older vehicles causing pollution in the national capital by denying them petrol and diesel.
- The government will now focus on seizing pollution-causing old vehicles instead of scrapping all older vehicles, ensuring that well-maintained vehicles are not affected.
- The decision to retreat from the policy was influenced by the unfeasibility of implementing Automatic Number Plate Recognition (ANPR) system and the absence of similar mandates in neighboring cities.
- The move comes after criticism and panic among car owners, with the aim to reduce carbon emissions in Delhi amidst poor air quality conditions.
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Bloomberg Quint
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1.1k
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Biocon Biologics Granted Marketing Authorisation By European Commission For Bone Disease Medicines
- Biocon Biologics has received marketing authorization from the European Commission for Vevzuo and Evfraxy biosimilars of Denosumab, used in treating various bone diseases.
- Vevzuo is authorized for preventing bone complications in adults with advanced cancer involving bones, while Evfraxy is authorized for treating osteoporosis and bone loss in different conditions.
- The approval of these biosimilars demonstrates Biocon's dedication to expanding patient access to essential medicines, particularly in the realm of bone health.
- Biocon Biologics' CEO spoke about the company's successful regulatory approvals for biosimilars in the European region, highlighting the achievement with the Denosumab biosimilars.
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Bloomberg Quint
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Tata Elxsi Q1 Results Date Announced: Check Earnings Schedule, Trading Window Closure And More
- Tata Elxsi is scheduled to announce its Q1 FY26 financial results on July 10, providing insights into its performance in various industries.
- The trading window for Tata Elxsi's designated persons will be closed from June 25 until 48 hours after the Q1 results are declared.
- Tata Elxsi has expertise in emerging technologies like IoT, AI, and cloud computing, catering to sectors such as automotive, broadcast, healthcare, and transportation.
- The company's stock closed slightly higher at Rs 6,217.5 apiece on Thursday, while the benchmark Nifty 50 settled lower at 25,405.3.
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Bloomberg Quint
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349
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Army Training Command Will Adopt 33 Niche Technologies By 2030: Lt Gen Devendra Sharma
- Army Training Command, under Lt Gen Devendra Sharma, plans to adopt 33 niche technologies by 2030 to enhance training and operational capabilities.
- These niche technologies are specialized solutions designed for specific purposes within the broader industry.
- An investment of Rs 390 crore will be made in research, infrastructure, and training over the next five years to transform the Indian Army into a future-ready force.
- Initiatives include training personnel on 22 niche technologies in 2024-25 with a plan to train on 21 more in 2025-26, emphasizing technology absorption and advancements in the armed forces.
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Bloomberg Quint
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217
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AIIMS Moves Delhi High Court Against Termination Of 27-Week Pregnancy Of Minor Rape Survivor
- AIIMS challenges Delhi High Court order on termination of 27-week pregnancy of minor.
- The AIIMS argued that terminating the pregnancy would impact the girl’s reproductive health.
- Court suggested that advising a rape victim to prolong pregnancy could affect mental health.
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