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Bloomberg Quint
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This Indian-Origin Entrepreneur Bought Private Island To Build New Nation For Techies
- Indian-origin tech entrepreneur Balaji S Srinivasan acquired a private island near Singapore to build a new nation designed for technologists and startup founders, forming part of his vision for a "Network State".
- Srinivasan's concept, receiving praise from influential figures, aims to establish decentralised digital communities that could eventually seek diplomatic recognition as sovereign entities.
- He launched The Network School on the island, a three-month residential programme for startup founders and engineers, teaching topics like digital nomadism and aiming to redefine traditional governance models.
- Srinivasan, a Stanford-educated entrepreneur with a background in cryptocurrency, believes in the efficiency and fairness of decentralised, community-led governance suited for the digital age.
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Bloomberg Quint
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PNB Share Price Declines As Morgan Stanley, Citi Remain Bearish Post Q1 Update
- PNB's share price declined over 2% as Morgan Stanley retained an 'underweight' rating and Citi Research maintained a 'sell' post Q1 business update.
- Morgan Stanley noted that PNB's loan growth has decelerated and domestic loans or deposit growth moderated compared to the last quarter.
- Citi expects PNB's RAM segments to drive growth with deposits increasing by 12.8% year-on-year.
- PNB's stock fell 2.04% to Rs 111.53 apiece but later traded 1.51% lower. Analysts have mixed ratings, with the average 12-month consensus price target indicating a 2.9% downside.
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Bloomberg Quint
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Door Open For New TV Rating Agencies As Government Allows Direct Media Ties
- India's government has proposed changes in TV rating agency norms, allowing more players in the industry.
- The proposal includes eliminating restrictions on board members' ties to media businesses and cross-holding limits for wider industry participation.
- Under the new proposal, companies must be registered under the Companies Act of 2013 and cannot engage in conflicting activities.
- The Ministry of Information and Broadcasting invites public feedback on the amendments within 30 days.
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Bloomberg Quint
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Somany Ceramics Cut To 'Add' As HDFC Securities Sees Limited Upside After Recent Rally
- HDFC Securities downgraded Somany Ceramics to 'Add' due to limited upside potential following a recent rally in the stock price.
- Somany Ceramics' newly commissioned large-sized tiles Max plant in Gujarat, with a 4.5MSM capacity, is anticipated to boost volume growth and enhance the product mix.
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SiliconCanals
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Leeds-based AssetCool raises €11.5M to tackle power grid bottlenecks with smart coating technology
- Leeds-based AssetCool has secured nearly €11.56M in a Series A funding round led by Energy Impact Partners.
- AssetCool focuses on improving overhead power line capacity through smart coating technology to address grid congestion during the energy transition.
- The company develops coatings and robotic systems to enhance grid infrastructure performance, enabling capacity boosts of up to 30% at a fraction of traditional costs and time.
- AssetCool's technology has been recognized by multiple utilities globally for providing capacity and resilience enhancements without requiring extensive upgrades.
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Global Fintech Series
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Lendbuzz Completes $266 Million Asset-Backed Securitization
- Lendbuzz, a fintech company, completed a $266 million securitization named LBZZ 2025-2, backed by a pool of auto loans secured by vehicles.
- LBZZ 2025-2 issued five classes of notes rated by S&P and KBRA, with Goldman Sachs as the lead bookrunner and structuring agent.
- Lendbuzz has completed over $2.1 billion in asset-backed securitizations and aims to offer fair credit access to underserved populations.
- The funding will support Lendbuzz's mission of providing credit to consumers with limited credit history through AI and alternative data analysis.
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SiliconCanals
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Dutch startup Solarix secures €5.5M to advance design-driven solar facades
- Dutch startup Solarix, known for designing innovative coloured solar panels for facades, secures €4.2M in funding from various investors including ROM InWest, VP Capital, and private investors.
- Solarix also has €1.3M reserved from the National Growth Fund for their future plans to expand collaboration and receive additional funding.
- The funding will be used for co-financing a subsidy application to RVO to automate assembly and enhance colour technology for Solarix's solar panels.
- Solarix, founded in 2018, offers aesthetic-coloured solar panels for facades to accelerate the energy transition with a focus on reducing CO2 emissions and achieving energy-neutral buildings.
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Bloomberg Quint
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HDB Financial Share Price Jumps Over 6% Day After Market Debut
- HDB Financial Services Ltd. witnessed a over 6% surge in its share price a day after its market debut on the National Stock Exchange and BSE.
- The company's shares opened at a premium of nearly 13% above its IPO issue price of Rs 740, starting at Rs 835 on both exchanges.
- HDB Financial Services' Rs 12,500-crore IPO, subscribed nearly 17 times, is one of the largest IPOs by a non-banking financial company in recent years and the largest for 2025.
- With its substantial IPO, HDB Financial Services ranks fifth among India's largest IPOs alongside notable firms like Hyundai Motor India, LIC, Paytm operator One97 Communications, and Coal India.
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Bloomberg Quint
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'Buy' Apollo Hospitals Maintains HDFC Securities, Hikes Target Price — Here's Why
- HDFC Securities maintains a 'Buy' rating on Apollo Hospitals and increases the target price to Rs 8,650.
- Apollo Hospitals anticipates its NewCo to evolve into India's largest omni channel pharmacy and digital health platform, leading to significant synergies.
- HDFC Securities foresees robust growth opportunities in various segments of Apollo Hospitals including hospitals, Healthco, and Apollo Health and Lifestyle.
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Eu-Startups
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Future of parcel delivery? London-based delivery service HIVED raises €35.6 million to expand its all-electric, ecommerce-native network
- London-based delivery service HIVED has raised €35.6 million in a Series B round to expand its all-electric, ecommerce-native network and accelerate its UK rollout.
- HIVED, founded in 2021, is the UK's first customer-centric, tech-enabled, all-electric parcel delivery company designed for ecommerce, having delivered over 6.5 million parcels across Greater London for clients like John Lewis and Nespresso.
- The company's real-time tracking and delivery intelligence have reduced customer enquiries by more than 90% and improved claims-rate by over 10x industry standards.
- HIVED's innovative approach includes using AI, real-time data, and a 100% electric fleet to optimize delivery routes and provide retailers with detailed insights for a seamless customer experience.
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Bloomberg Quint
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F1 Box Office Collection Day 6: Brad Pitt Starrer Garners Rs 32 Crore In India
- The movie 'F1: The Movie' starring Brad Pitt has garnered Rs 32 crore in India within the first six days of its release.
- The film earned an impressive $140 million worldwide in its opening weekend, with significant earnings in the United States as well.
- Despite a successful box office performance, the movie was made with a budget of $350 million, requiring sustained earnings to make a profit.
- The film's collections in India have shown a decline during weekdays, dropping to around Rs 3-4 crore per day after a strong opening weekend.
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Bloomberg Quint
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Container Corp Bonus Issue: Last Day To Buy This PSU Stock Before Record Date
- Container Corp. of India is issuing bonus shares with a record date of July 4, 2025.
- Investors must buy shares before the record date to qualify for the bonus allotment.
- Concor will issue one new fully paid-up equity share for every four held.
- The deemed date of allotment for bonus shares is July 7, with trading available from July 8.
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Bloomberg Quint
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278
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Action Against Illegal Bike Taxis In Mumbai — Netizens Seek Similar Action Against Bandra-Kurla Autowalas
- Maharashtra Transport Minister Pratap Sarnaik conducted a surprise crackdown on an illegal Rapido bike taxi in Mumbai, sparking demand for similar actions against autorickshaw drivers in Bandra and Kurla.
- Netizens on social media urged the minister to address issues faced by commuters in busy Mumbai suburbs and questioned the selective nature of the action taken against illegal bike taxis.
- Some users highlighted problems like wrong-side driving, overfilled rickshaws, chaos in traffic management, and poor road infrastructure, urging the minister to extend surprise inspections to other locations.
- The Maharashtra government, through a new e-bike policy, allows only electric two-wheelers to be eligible for taxi permits under strict conditions, with no official permission yet for app-based bike taxi services in the state.
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Bloomberg Quint
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HSBC India Services PMI Rises To A 10-Month High Of 60.4 In June
- The HSBC India Services PMI Business Activity Index rose to a 10-month high of 60.4 in June, attributing this growth to positive demand trends and sales improvements.
- The HSBC India Composite PMI Output Index also increased from 59.3 in May to 61.0, indicating the fastest rate of expansion in 14 months.
- New orders expanded notably, with service companies benefiting from strength in the domestic market and increased new export business from Asian, Middle Eastern, and US markets.
- Employment in the Indian service sector rose for the thirty-seventh consecutive month in June, with input cost inflation easing and outlook optimism sustained, although confidence levels slightly fell.
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Fintechnews
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231
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Skarlett Raises €8 Million to Develop Financial Services for France’s Over-60s
- French fintech company Skarlett raises €8 million in seed funding to develop financial services platform for individuals over 60.
- Funding round led by 115K, La Banque Postale's venture capital arm, with participation from Raise Seed for Good and Alven.
- Skarlett, founded by Townley Le Guénédal, Benjamin Gaignault, and Aurélien Gouttefarde, focuses on addressing financial needs of older adults in France.
- The company plans to expand its product portfolio and enhance personalization using AI tools with the new funding.
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