Category: 1 Minute-Read

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₹650-cr Kusumgar IPO attracts strong buzz

The ₹650-crore Kusumgar IPO has opened for subscription, with strong interest from investors as the grey market indicates a potential listing gain of nearly 40%.

The issue is entirely an Offer for Sale (OFS) by existing shareholders, with a price band of ₹660-699 per share. The IPO will remain open until July 10, and shares are expected to list on July 15.

Market participants are closely tracking subscription levels, encouraged by the company’s strong business fundamentals and the positive sentiment reflected in the grey market premium.

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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.

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Bombay HC denies interim relief against Cognizant logo

The Bombay High Court has refused to grant interim relief to Atyati Technologies in its trademark and copyright dispute with Cognizant over the use of a hexagonal logo.

The court declined to restrain Cognizant from using the logo at this stage, observing that the balance of convenience did not favour an interim injunction.

However, it clarified that the observations were only preliminary and would not affect the final outcome of the case. The matter will now proceed for further hearing on merits.

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Walmart cuts prices on thousands of everyday items

Walmart has announced price cuts on thousands of products, including grocery items such as beef and Coca-Cola, as the retail giant aims to provide relief to customers facing higher living costs.

The company said it is reducing prices across several categories, focusing on everyday essentials and popular household products. The move comes as retailers continue responding to cautious consumer spending and ongoing inflation concerns.

Walmart’s latest strategy is aimed at keeping shoppers engaged by offering more affordable options while maintaining its position as a low-price leader. The company expects competitive pricing to remain a key factor in attracting customers.

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India, Japan unite for UNICORN naval project

India and Japan have launched their first joint defence technology project by agreeing to co-develop the UNICORN (Unified Complex Radio Antenna) system for Indian Navy warships.

The advanced antenna combines multiple communication and surveillance systems into a single integrated mast, helping ships become harder to detect on enemy radar while improving operational efficiency.

The project will be jointly developed with Japanese technology and manufactured in India, marking a major step in defence cooperation between the two countries. Announced during the India-Japan summit in New Delhi, the agreement reflects growing strategic trust and supports a shared vision for a secure, stable and rules-based Indo-Pacific.

The partnership also signals closer collaboration in advanced defence technologies and maritime security.

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Kerala moves SEBI over Vizhinjam port stake sale

The Kerala government has approached the Securities and Exchange Board of India (SEBI) over the proposed transfer of Adani Ports and Special Economic Zone‘s stake in the Vizhinjam International Seaport project.

Chief Minister Pinarayi Vijayan has sought regulatory clarity on whether the transaction complies with the concession agreement signed with the state. The government maintains that the move is aimed at safeguarding Kerala’s interests and ensuring contractual obligations are upheld.

While the issue has sparked political debate, industry observers believe the dispute is unlikely to significantly impact the port’s ongoing operations or future expansion plans.

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Bank of Baroda settles NMC case

Bank of Baroda has agreed to pay $600 million (around ₹5,700 crore) to settle legal claims related to the collapse of UAE-based healthcare company NMC Health.

The settlement brings to an end years of litigation in Abu Dhabi and London over loans extended before the company’s 2020 collapse. The bank said the decision was taken after assessing the costs and risks of prolonged legal proceedings and will provide certainty by resolving all outstanding claims.

Bank of Baroda has already made provisions for much of the settlement, limiting the impact on its financials and allowing it to focus on its core business.

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IndiGo launches lite fare

India’s largest airline, IndiGo, has introduced a new ‘Lite Fare’ for passengers travelling with only cabin baggage. The lower-priced option is aimed at flyers who do not need checked luggage, offering a more affordable travel choice on domestic and international routes.

Passengers booking the fare can carry only the standard cabin baggage allowance, while checked baggage can be added later for an additional fee.

The airline said the move is designed to provide greater flexibility and reduce travel costs, while also helping speed up airport check-in and baggage handling for eligible passengers.

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Petrol, diesel prices cut at Nayara Pumps

Fuel prices at Nayara Energy outlets have been reduced, with petrol cheaper by ₹5 per litre and diesel by ₹3 per litre, following a fall in global crude oil prices.

The revision reflects softer international oil benchmarks and lower input costs for refiners. The cuts apply at select Nayara retail outlets, offering immediate relief to consumers. Industry sources said easing crude prices and stable supply conditions enabled the reduction.

While private retailers adjusted rates quickly, broader retail fuel prices may still vary across operators. Experts say prices remain linked to global oil trends and could change with market movement.

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Shell sees Global LNG demand jump 65%

Global demand for liquefied natural gas (LNG) is expected to rise by 65 per cent by 2050, driven by growing energy needs, industrial expansion and the shift towards cleaner fuels, according to Shell’s LNG Outlook.

The company estimates annual LNG demand could reach 630-718 million tonnes by 2050, with Asia leading the growth. Shell said rising electricity demand, energy security concerns and efforts to reduce coal use will continue to boost LNG consumption.

The report also stressed the need for timely investments in production, export terminals and shipping infrastructure to meet future global demand and avoid supply shortages.