Author: Sreelatha M

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Corporate

Sensex gains 820 points, Nifty settles above 24,200

Equity markets opened on a positive note on Friday, where the BSE Sensex climbed over 200 points during the opening session, while the NSE Nifty 50 comfortably traded above the 26,000 mark. Buying interest was seen across several sectors, with financial, IT and auto stocks leading the gains, although profit booking in select heavyweight shares limited the overall upside.

Market participants said improving domestic sentiment and steady corporate earnings expectations helped support equities. Investors also tracked global developments, including movements in US markets, commodity prices and expectations around interest rates, which continue to influence trading sentiment.

Among the major gainers were leading banking and financial stocks, while select technology companies also attracted buying amid hopes of stable demand in overseas markets. Auto shares advanced on expectations of healthy sales and improving consumer demand.

Foreign institutional investor (FII) activity and domestic institutional buying remained in focus as traders assessed fund flows. Analysts said sustained domestic inflows continue to provide support to Indian equities, even as global investors remain cautious because of geopolitical developments and uncertainty over the US Federal Reserve’s policy outlook.

Meanwhile, the Indian rupee strengthened modestly against the US dollar in early trade, offering additional support to market sentiment. Investors also kept a close watch on crude oil prices, as any sharp movement could influence inflation and corporate earnings.

Market experts expect volatility to remain elevated in the coming sessions, with investors awaiting fresh corporate earnings, macroeconomic data and global cues for further direction. Stock-specific action is likely to continue as companies begin announcing their quarterly financial results.

Also Read: Government clears Dixon-Vivo smartphone venture

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Corporate

BSNL launches satellite phone priced at ₹1.34 lakh

Bharat Sanchar Nigam Limited (BSNL) has introduced a new satellite phone priced at ₹1.34 lakh, offering communication services in areas where conventional mobile networks are unavailable. The launch is aimed at improving connectivity in remote, border and disaster-prone regions, though the device is not yet available for general public use without government approval.

Unlike regular smartphones that rely on cellular towers, the satellite phone connects directly to satellites, enabling users to make calls even in locations with little or no network coverage. This makes it particularly useful for emergency response teams, defence personnel, maritime users, mountaineers and organisations operating in isolated areas.

However, satellite phones are subject to strict regulations in India because of national security considerations. Individuals and organisations must obtain prior approval from the government before purchasing or using the device. Unauthorised possession or operation of satellite phones can attract legal action under existing telecom rules.

The newly launched handset is expected to support voice communication in difficult terrains where terrestrial telecom infrastructure is limited or unavailable. BSNL believes the service will strengthen communication during natural disasters and emergencies, when traditional mobile networks may become unavailable.

The launch is part of BSNL’s broader efforts to expand its communication services beyond conventional mobile and broadband networks. The state-run telecom operator has also been focusing on improving 4G services and expanding digital connectivity across rural and underserved regions.

Industry experts say satellite communication is becoming increasingly important as governments and telecom companies work to improve connectivity in remote areas. While the technology remains more expensive than conventional mobile services, it offers a reliable alternative for users operating in challenging environments.

The ₹1.34 lakh price tag reflects the specialised technology involved in satellite communication. Besides the cost of the handset, users may also need to pay service charges depending on the selected communication plan.

Also Read: Apollo Micro buys 41% Premier explosives stake

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Corporate

Apollo Micro buys 41% Premier explosives stake

Apollo Micro Systems has announced plans to acquire a 41.3% stake in Premier Explosives Ltd for ₹1,550 crore, marking one of the biggest deals in India’s defence manufacturing sector. The acquisition is expected to strengthen Apollo Micro’s presence in defence, aerospace and high-technology manufacturing.

The company will purchase the stake from Premier Explosives’ existing promoters and other shareholders, subject to regulatory approvals and customary conditions. Following the transaction, Apollo Micro Systems will become the largest shareholder in Premier Explosives and will also make an open offer to acquire additional shares in accordance with market regulations.

Premier Explosives is a well-established manufacturer of explosives, propellants and defence-related products, supplying both the Indian armed forces and organisations involved in the country’s space programme. The company also serves mining and infrastructure sectors, making it a strategic addition to Apollo Micro’s expanding portfolio.

Apollo Micro Systems said the acquisition aligns with its long-term strategy of building integrated capabilities across defence electronics, aerospace systems and advanced manufacturing. The company expects the partnership to create operational synergies, broaden its product offerings and strengthen its participation in India’s growing defence ecosystem.

The announcement was well received by investors, with Apollo Micro Systems’ shares rising around 5% in early trade. Market participants viewed the deal as a significant step towards expanding the company’s scale and positioning it to benefit from rising government spending on defence and indigenous manufacturing.

Industry analysts believe the acquisition will help Apollo Micro diversify its capabilities while supporting India’s push for self-reliance in defence production under the ‘Make in India’ initiative. The combination of defence electronics expertise with explosives and propulsion technologies could open new opportunities in missile systems, ammunition and space applications.

The companies are expected to work closely to explore technology sharing and strengthen manufacturing capabilities after the transaction is completed. Analysts also see potential for increased collaboration on future defence projects and exports.

Also Read: Fed chief Warsh names members for reform panels

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Corporate

Novo Nordisk launches once-weekly insulin Awiqli in India

Novo Nordisk has launched Awiqli, the world’s first once-weekly basal insulin, in India, offering a new treatment option for people living with diabetes. The launch comes as the country continues to witness a steady rise in diabetes cases, increasing the need for innovative and patient-friendly therapies.

Awiqli is designed to help adults with diabetes manage their blood sugar levels with just one injection a week, compared with the daily injections required for conventional basal insulin. The company believes the reduced injection frequency could improve treatment adherence and make diabetes management easier for many patients.

India is home to one of the world’s largest diabetic populations, with millions of people requiring long-term insulin therapy. Healthcare experts say the burden of diabetes continues to grow because of lifestyle changes, ageing, urbanisation and genetic factors, making effective and convenient treatment options increasingly important.

Novo Nordisk said the once-weekly insulin has undergone extensive clinical evaluation and demonstrated blood sugar control comparable to daily basal insulin, while maintaining a well-established safety profile. The therapy is intended for adults with both type 1 and type 2 diabetes, as prescribed by healthcare professionals.

Medical experts believe reducing the number of injections may encourage more patients to remain consistent with their treatment, a key factor in controlling diabetes and preventing long-term complications such as heart disease, kidney damage and vision loss.

The launch also reflects Novo Nordisk’s continued focus on expanding its diabetes care portfolio in India, one of its fastest-growing markets. The company has been investing in advanced therapies as demand for better diabetes management solutions continues to increase.

Doctors have welcomed the introduction of the once-weekly insulin, saying it offers greater flexibility for patients who struggle with daily injections. However, they emphasised that treatment decisions should always be made in consultation with healthcare professionals, based on individual medical needs.

Also Read: Dr Reddy’s delays semaglutide supplies over quality issue

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Beyond

RBI starts three surveys ahead of policy

The Reserve Bank of India (RBI) has launched three important surveys to gather feedback from households, businesses and professional forecasters, as it prepares for its upcoming monetary policy decisions.

The surveys are designed to help the central bank understand inflation expectations, business conditions and the broader economic outlook. The findings will provide valuable inputs to the Monetary Policy Committee (MPC) while deciding the future course of interest rates.

One of the surveys focuses on Inflation Expectations of Households, covering nearly 6,000 urban households across 19 major cities. Participants are being asked about their expectations for price changes over the next three months and one year. The survey captures perceptions on the prices of food, housing, fuel, transport and other essential items that directly affect household budgets.

The RBI has also begun its Industrial Outlook Survey, which collects responses from manufacturing companies on production, order books, capacity utilisation, employment and overall business confidence. The survey helps the central bank assess how industries expect business conditions to evolve in the coming months.

The third exercise is the Survey of Professional Forecasters, involving economists, research institutions and market experts. They provide projections on key economic indicators such as GDP growth, inflation, interest rates, exchange rates and other macroeconomic variables.

The RBI clarified that the survey results reflect the views of respondents and should not be treated as the central bank’s official assessment or policy stance.

The latest round of surveys comes at a time when inflation has moderated and the RBI continues to closely monitor domestic demand, global uncertainties and changing financial conditions. Policymakers are expected to use the findings alongside economic data while assessing risks to growth and inflation.

By collecting regular feedback from consumers, businesses and experts, the RBI aims to gain a clearer picture of the economy beyond official statistics.

Also Read: SBI sells 1.42% stake for ₹1,655 cr ahead IPO

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Beyond

Gold slips to ₹145,460, Silver tops ₹227,160

Gold and silver prices witnessed mixed movement on Friday, July 10, with domestic futures reflecting cautious sentiment in the bullion market. MCX gold was trading 0.28% lower at ₹145,460 per 10 grams, while MCX silver futures edged 0.10% higher to ₹227,160 per kg.

In the retail market, however, gold prices remained largely stable across major cities. In Delhi, 24-carat gold was priced at around ₹145,800 per 10 grams, while 22-carat gold stood at ₹133,650. Similar price trends were seen in Mumbai and Kolkata, with only minor variations due to local taxes and transportation costs. Retail silver (999 purity) continued to trade above ₹2.26 lakh per kg.

The mixed trend comes as investors weigh global economic developments, including expectations around interest rates, inflation and geopolitical uncertainties. These factors continue to influence the movement of precious metals, with gold often attracting investors during periods of uncertainty, while silver benefits from both safe-haven demand and its industrial applications.

Jewellers said stable retail prices are encouraging buyers who have been waiting for a pause in recent volatility. Demand for jewellery and investment purchases is expected to remain steady, supported by the upcoming festive and wedding season. However, many consumers are still comparing prices before making large purchases.

Market analysts believe bullion prices could remain volatile in the near term as investors closely monitor global cues and movements in the US dollar. Any fresh signals from major central banks or changes in inflation expectations may influence the direction of gold and silver prices.

For buyers, experts recommend checking BIS hallmark certification, comparing prices across retailers and factoring in making charges before purchasing jewellery.

Also Read: Truecaller CEO slams TRAI rules

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Leaders

Truecaller CEO slams TRAI rules

Truecaller has blamed recent telecom regulations introduced by the Telecom Regulatory Authority of India (TRAI) for the sharp rise in spam calls, arguing that the new framework has unintentionally made it more difficult to identify and block unwanted callers.

Speaking on the issue, Truecaller CEO Rishit Jhunjhunwala said the regulator’s whitelisting rules have allowed more business calls to bypass existing spam filters. According to him, many callers now appear as verified entities even when users consider their calls intrusive or unsolicited, reducing the effectiveness of caller identification systems.

The company said the situation could become even worse if additional regulatory proposals bring caller identification apps under tighter oversight. Truecaller argued that its platform has played a crucial role in helping millions of users identify spam, fraud and scam calls, and warned that restricting such services could weaken consumer protection.

TRAI’s recent anti-spam measures were introduced to curb fraudulent communication by requiring businesses to register approved numbers before making promotional or transactional calls. While the regulator says the system is designed to improve trust and reduce spoofing, Truecaller believes it has created unintended consequences by making some unwanted calls appear more legitimate.

Jhunjhunwala said the increase in spam calls is not the result of caller identification apps but rather changes in the way business communications are now routed through approved channels. He stressed that the industry and regulators should work together to improve the system instead of limiting platforms that help users identify suspicious calls.

Also Read: FDA shuts K Rustom ice cream in Mumbai

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Uncategorized

FDA shuts K Rustom ice cream in Mumbai

Mumbai’s iconic K Rustom Ice Cream, a favourite among generations of residents and tourists for over seven decades, has been ordered to shut temporarily after the Maharashtra Food and Drug Administration (FDA) found serious hygiene violations during an inspection.

The FDA suspended the licence of the popular Churchgate ice cream parlour after officials discovered rats, flies and poor sanitary conditions inside the premises. The inspection was carried out as part of an ongoing drive to check food safety standards at restaurants and eateries across Mumbai.

According to the FDA, inspectors found evidence of rodent activity, flies in food preparation areas and several lapses in cleanliness. Officials said these conditions posed a potential health risk to customers and violated food safety regulations.

Following the inspection, the authorities immediately suspended the outlet’s licence and directed the management to stop operations until all deficiencies are addressed. The parlour will be allowed to reopen only after it complies with hygiene standards and receives fresh approval from the FDA.

K Rustom Ice Cream has been one of Mumbai’s best-known dessert destinations since the early 1950s. Located near Churchgate railway station, the parlour is especially famous for its handmade ice cream sandwiches, attracting students, office-goers, tourists and families alike. News of its temporary closure has disappointed many loyal customers, with several expressing surprise on social media.

FDA officials said food businesses have a responsibility to maintain proper hygiene and ensure safe conditions for customers. They added that inspections across the city will continue and strict action will be taken against establishments that fail to meet prescribed standards.

The action against K Rustom comes amid increased monitoring of food outlets following recent complaints about hygiene and food safety. Authorities have urged restaurant owners to follow sanitation rules, maintain clean kitchens and adopt proper pest-control measures to protect public health.

Also Read: Sensex surpasses 230 points, Nifty reclaims 23,950

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Corporate

Apple, Broadcom sign $30 bn US chipmaking deal

Apple has announced a $30 billion agreement with Broadcom to manufacture advanced chips in the United States, marking one of its biggest investments yet in domestic semiconductor production. The multi-year deal is aimed at expanding Apple’s US supply chain while reducing dependence on overseas manufacturing.

Under the partnership, Broadcom will produce a range of high-performance chips at its American facilities. These components are expected to power future Apple devices, including iPhones, Macs, iPads and other products. The agreement supports Apple’s broader strategy of securing a stable supply of critical semiconductors while investing in advanced manufacturing within the country.

The announcement comes as global technology companies continue to diversify supply chains following recent disruptions caused by geopolitical tensions and chip shortages. By sourcing more components from the US, Apple hopes to improve supply reliability and strengthen long-term manufacturing resilience.

The investment also aligns with the US government’s push to boost domestic semiconductor production. Washington has encouraged companies to expand local manufacturing through incentives aimed at reducing reliance on foreign chip suppliers and strengthening national technological capabilities.

Apple said the partnership with Broadcom will support innovation, create high-skilled jobs and help develop next-generation semiconductor technologies. The company has increasingly focused on designing its own chips, and the latest agreement is expected to further strengthen its hardware ecosystem.

Broadcom, one of Apple’s key suppliers, is expected to play a central role in manufacturing specialised components that support wireless connectivity and other advanced technologies used across Apple’s product lineup. The company said the investment would expand its manufacturing capabilities and reinforce its long-standing relationship with Apple.

Also Read: US dollar holds firm after Fed minutes

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1 Minute-Read

Hrithik Roshan to sell Cult.fit shares before IPO

Actor Hrithik Roshan will partially exit his investment in Cult.fit by selling around 6.33 lakh shares through the company’s upcoming initial public offering (IPO).

The fitness and wellness platform has filed draft papers to raise ₹950 crore through a fresh issue, along with an offer for sale by existing shareholders. Hrithik, an early investor and the brand’s ambassador, will retain a stake even after the sale.

The IPO marks a major milestone for Cult.fit as it looks to expand its business and strengthen its presence in India’s growing fitness and wellness market.