SBI Funds Management IPO, which closed with an overall subscription of 41.73 times, is expected to finalise its allotment today, July 17. The IPO, which attracted strong demand, saw the QIB portion being subscribed 140.11 times, followed by NII at 22.51 times and retail at 3.76 times. The grey market premium is around Rs 97 per share, implying a premium of 17%.
Anurag Kumar, a senior IPS officer, has been appointed as Delhi's new Commissioner of Police, signaling a major reshuffle in the city's law-enforcement leadership. With his extensive experience and intelligence background, Kumar is expected to focus on intelligence-led policing, community engagement, and improved coordination with other agencies.
Caliber Mining's IPO, aiming to raise Rs 450 crores, has a price band of Rs 402 to Rs 424 per share and is open for bidding until July 21. The issue includes a fresh issue of Rs 400 crores and an offer for sale of Rs 50 crores. As of 12:30 PM, the IPO has been subscribed 0.72 times, with strong interest from retail investors. Allotment is expected soon.
Antique Stock Broking maintains a positive view on select financial stocks, including Union Bank of India, HDFC Life Insurance, and ICICI Prudential Asset Management Company, due to their strong June-quarter earnings and reinforced long-term earnings outlook.
Nuvama initiates coverage on Siemens Energy with a ‘Buy’ rating and a target price of Rs 4,200, implying a 20% upside. The company is positioned to benefit from India's projected Rs 7.93 lakh crore transmission investment cycle through FY36. Its portfolio in the high-growth 400–765kV segment, robust export growth.
Maruti Suzuki to challenge court order to replace vehicle over E20 fuel concerns, citing evidence of fuel contamination. Raises concerns about E20 fuel compatibility and quality for older cars. Court orders compensation for mental harassment and litigation costs, highlighting challenges of India's move towards higher ethanol blending in petrol.
The highly subscribed SBI Funds Management IPO is awaiting the basis of allotment, to be finalized today. The issue saw strong demand from institutional, retail, and shareholder categories. Successful applicants can expect shares to be credited before the July 21 listing. Investors can check their status on BSE, NSE, or KFin Technologies, but should keep in mind the risks involved in investing.
The popular Mix Up-Down toy train on the Kalka-Shimla railway line has resumed operations after a summer break. The budget-friendly train runs daily, stopping at all 18 stations between Kalka and Shimla. It is a convenient and affordable option for tourists and local passengers, with a fare of just ₹50.
India's data centre industry is boosting the power sector, benefiting companies like NTPC, JSW Energy, Tata Power, and Torrent Power. By 2030, data centres are expected to account for 7-8% of peak power demand, leading to a surge in demand.
The Bandra Terminus–Gorakhpur Special Train on July 18 has been cancelled by Western Railway due to operational reasons. This will impact passengers travelling between Maharashtra, Gujarat, Rajasthan and Uttar Pradesh. Passengers should find alternative travel options and check the route and list of stations affected.
SCR has extended the Hyderabad-Gorakhpur special train services to meet growing demand and provide convenience to passengers. This will ease the load on the busy route, offer more options and increase chances of confirmed tickets. The trains will pass through major stations in Telangana, Maharashtra, Madhya Pradesh, and Uttar Pradesh.
Delhi CM Rekha Gupta unveiled a new policy to boost startups and entrepreneurship in the city. With an investment of Rs 400 crore, the policy aims to make Delhi a hub for startups and provide support for turning ideas into successful businesses. It will cover educational institutions and offer financial aid, mentorship, and networking opportunities.
Motilal Oswal is optimistic about the future of HDFC Group, especially HDFC Bank. The brokerage predicts strong growth for the bank due to its sustainable and profitable expansion strategy. HDFC Life Insurance and HDFC AMC also show promise with their expanding product portfolios. However, HDB Financial Services is viewed with caution despite improvements in margins and asset quality.
Indian Railways has extended two special train services connecting Telangana with Bihar and Bihar with Karnataka to meet the increasing demand for train travel. These trains will continue operating for several weeks with multiple trips and provide additional seats for passengers during the busy season. They will stop at major stations and offer various coach options.
US President Donald Trump used a 25-minute address to the nation on Thursday to once again question the integrity of the 2020 US presidential election, announce the release of what he called new classified documents linked to China, and urge Congress to pass stricter voting laws.
Wipro's Q1 earnings saw a stagnant net profit and a decrease in IT revenue compared to last year, resulting in a 15-quarter low operating margin due to higher employee costs and lower utilisation levels. However, the company reported a rise in large deal bookings and declared an interim dividend. While the stock has slightly increased in the last five trading sessions.
PM Modi will inaugurate and lay the foundation stone for several important highway projects in North India today, including the Delhi-Amritsar-Katra Expressway which will reduce travel time between Delhi and Katra to 6 hours. Other projects include the Ambala-Kala Amb Highway, Jind-Gohana Greenfield Highway, and IT City to Kurali Greenfield Highway.
Indian Railways is set to launch its first hydrogen-powered train today, along with two new train services and 75 redeveloped railway stations. The train will run on the Jind-Sonipat route, covering 356 km daily and stopping at 13 stations. PM Modi will also inaugurate the Kartoli-Ambala City Express and Chheharta-Varanasi Sant Ravidas Express.
Piramal Finance aims for strong growth in FY27, with focus on gold and microfinance loans. Despite some stress in secured book, company closely monitoring. Gold loans showing promising growth, 200 branches to open. 50-60 rural branches for microfinance. Approval for Rs 4,000 crore fundraising to support expansion. Q1 results positive.
The Gates MRI and Serum Institute of India have partnered to produce M72/AS01E, a promising TB vaccine pending Phase III trial results. This could be the first new TB vaccine in a century and a major breakthrough. SII will invest over $100 million to enhance manufacturing and was chosen for its track record in producing affordable and high-quality vaccines.
Sebi proposes a unified Common Advertisement Code to regulate financial services advertising, replacing six existing frameworks. The code aims to strengthen compliance and accountability through stricter regulations on celebrity endorsements and post-issuance reporting within 24 hours.
Anushakti Vidhyut Nigam Ltd, a joint venture between NTPC and NPCIL, has invited bids for a Rs 28,000-crore package for the Mahi Banswara nuclear power project in Rajasthan. This is the largest nuclear-island tender under India's indigenous reactor programme and covers the primary core infrastructure for four 700-MW pressurised heavy water reactors.
The Centre is considering reintroducing MDR on UPI transactions over Rs 2,000 for large merchants to cover increasing operational costs. The proposed MDR will not exceed 0.5% and smaller businesses with an annual turnover of up to Rs 1.5 crore may be exempt. A decision is expected in a month, despite industry body PCI's plea to reconsider the zero-MDR policy.
The Indian government aims to raise the country's food processing level to 25% by 2031, leading to increased value addition, exports, and investments. Plans for a national processing mission or PLI scheme are in the works, along with the creation of a 'Bharat' brand to promote Indian processed foods globally. The focus should shift from production to value creation and improving nutrition.
Brakes India and Wheels India's first shipment to the UK after CETA boosts confidence in European market for Indian automotive industry. UK currently accounts for 3% of exports, expected to rise with new deal. Indian auto component industry competitive in global supply chain, with $1,370 million trade deficit. Preparing for electric vehicle transition and promoting localization.
Kharif crop sowing down by 16% due to delayed monsoon, only 48% of normal acreage covered. Agriculture Minister prepares contingency plans for deficient districts. Cumulative rainfall below average, with June at 40% deficit and July at 4% above benchmark. Wide productivity gap in crops, with focus on quality.
AI is rapidly transforming business strategy and product development, but the reliability of AI systems depends on the quality of data. IDC projects that AI spending in India will grow significantly, highlighting the need for trusted, high-quality data. Data governance is now seen as an enabler of intelligent operations, providing visibility, traceability, and accountability for AI systems.
The power ministry is collaborating with stakeholders to ensure energy security for data centre developers. A proposed roadmap will align investments with transmission expansion, discom readiness, and green power availability. Plans for reliable power, dual-grid connectivity, and grid stability are being evaluated to support the expected surge in data centre capacity, driven by the rise of AI.
SBI Funds Management's IPO, the biggest public issue of the year, was subscribed 41.66 times, with bids worth over Rs 3 lakh crore. Retail participation was high, while QIBs bid for 140.11 times the reserved shares. Domestic financial institutions and foreign institutional investors were major bidders.
The June quarter saw a significant decrease in new project announcements, with only 663 projects compared to an average of 1,370 in the previous twelve quarters. Private sector investments in data centers and nuclear plants dominated, while the government sector and electricity and information technology sectors also saw changes.
Suzuki is preparing to launch its new entry-level electric vehicle, based on the Vision e-Sky concept, which will have a similar size as the Maruti Suzuki S-Presso. The production model will have updated exterior features and a spacious interior. The release date has been delayed, but it is expected to have a 20-25 kWh battery and a range of 270 km. Its availability is uncertain.
Indian government increases export taxes on diesel and aviation fuel by ₹7 per litre, starting July 16, due to US-Iran tensions and possible supply disruptions. Goal is to keep more fuel in domestic market with high global prices. Regular review and adjustment based on market conditions.
The Cabinet has approved a new policy to attract investment in gas-based urea plants, aiming to eliminate import shortfall. It offers a minimum return on equity of 12% with a cap of 16% and addresses currency risk by converting fixed costs into rupees after four years.
Power ministry proposes tougher fuel-economy regime for passenger vehicles from April 2027, with declining targets and incentives for alternative fuels and fuel-saving technologies. Compliance will be assessed in two blocks, with super credits for cleaner vehicles and a credit-and-debit system.
Mahindra & Mahindra's Chakan manufacturing facility in Maharashtra has produced over three million vehicles, including the new BE 6 electric SUV. The plant, which started in 2009, has improved its production efficiency and is environmentally sustainable with advanced technologies and renewable energy sources. The facility's latest million units were manufactured in just 27 months.
ISRO tightens rules for resignations and voluntary retirements from senior scientific and technical personnel working on national missions, including Gaganyaan. Requests will now require a higher-level review by the Department of Space due to concerns about the impact on crucial projects. This comes as ISRO faces competition for specialized talent from private space companies.
Market experts and fund managers are split on investing in large or mid-cap stocks due to market volatility caused by geopolitical tension, rising oil prices, and fluctuations in the rupee. Some believe in the value gap of large caps, while others see potential in high-growth midcaps. A balanced strategy of value buys and growth opportunities is advised.
Soccer superstar Lionel Messi has reached a billion-dollar fortune through his savvy investments in real estate and hospitality. His MiM Hotels brand, known for its personalized touch and exclusive amenities, has expanded to six properties in Spain and Andorra. With additional ventures in restaurants, wine, and real estate, Messi's net worth has skyrocketed.
The Chipko Movement, revived in Uttarakhand, protests against the widening of Dehradun-Rishikesh National Highway, fearing the loss of 4,000 Sal trees and damage to the environment and wildlife. NHAI claims to have measures in place, but locals and activists argue that development must not harm forests.
India's first consumer commission decision on E20 petrol rollout has set a precedent for manufacturer liability and consumer protection. The court has directed Maruti Suzuki and the dealer to replace a vehicle owner's car with a new E20-compatible one or refund the entire purchase price within 45 days.
Himachal Pradesh is implementing a new industrial policy focused on a defence industrial corridor, green industries, and local product-based manufacturing. The policy aims to attract clean investment, create jobs, and increase state revenue. It also prioritizes environmentally sustainable infrastructure and stricter environmental regulations.
India's processed food market is set to hit $600 billion by 2030 due to increasing consumer demand, urbanization, and digital commerce. The report emphasizes the shift towards consumer-centric growth and the potential for growth as only 12% of food output is processed. Online sales and AI technology will drive this change.
Elon Musk, founder of Tesla, SpaceX, xAI, and Neuralink, manages to balance running multiple companies and spending time with his children through a strict scheduling method called the '5-minute rule.' This allows him to maximize efficiency, but comes with trade-offs such as long work hours and little breaks.
PM Modi is going to visit Chandigarh on July 17 to inaugurate and lay the foundation stone for major infrastructure projects. Traffic restrictions and diversions are also in place to ensure smooth movement of VVIP convoy. Alternate routes advised, designated parking areas for guests.
HDFC AMC, a leading asset management company, reported its Q1FY27 earnings, prompting all three top brokerage houses - Motilal Oswal, Nuvama, and JM Financial - to reiterate their positive view on the stock. Motilal Oswal and JM Financial have the highest target price of Rs 3,300, suggesting an upside potential of 21%, while Nuvama has a target price of Rs 3,180.
Elon Musk has donated $5 million to support Vivek Ramaswamy's campaign for Ohio governor, boosting his political spending ahead of the closely watched 2026 US midterm elections, Bloomberg reported.
South Central Railway (SCR) has announced special train services between H.S. Nanded and Tiruchanur to manage increased travel demand and provide a more convenient and comfortable journey option. The special trains will offer additional connectivity between Maharashtra and Andhra Pradesh, with stoppages at important stations along the route.
Delhi HC orders daily medical monitoring of activist Sonam Wangchuk's health during hunger strike. Govt doctors must intervene, and authorities must engage in dialogue. Court stresses State's duty to protect life and health while respecting right to protest.
The Karnataka government has introduced the Karnataka Apartment Bill, 2026 to protect the interests of apartment owners and update outdated laws. The bill includes measures such as clearer ownership rights, a two-stage dispute resolution process, and a redevelopment framework. The CM has promised to consider public input and involve political parties.
Western Railway has introduced a special weekly train service between Maharashtra and Uttar Pradesh to ease the travel rush. The train will run from Bandra Terminus to Azamgarh and cover important stations such as Surat, Vadodara, Ratlam, Kota, Tundla Junction, Subedarganj, and Banaras.