Market News
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India eyes oil exploration expansion after Middle East war shortages
In response to a critical energy supply crisis, India is ramping up its efforts in domestic crude exploration. The country, known for its reliance on oil imports, is set to unveil extensive uncharted regions for bidding. This initiative, named 'Samudra Manthan,' aims to enhance production levels in light of rising energy demands and global volatility, with significant funding earmarked for offshore drilling activities.
Is Greaves Cotton's diversification strategy starting to pay off?
The engineering company says businesses spanning energy, industrial solutions and exports are reducing its reliance on diesel three-wheeler engines, while acquisitions remain on the agenda.
E20 scientifically tested, safe for older vehicles: Industry experts
Industry experts have reassured the public about the safety and efficacy of E20 ethanol-blended petrol. They emphasized that the fuel has undergone rigorous scientific testing and meets high quality standards, making it safe even for older vehicles. This initiative, a result of years of evaluation and consultation, significantly reduces India's reliance on imported crude oil and contributes to lower carbon emissions, offering performance benefits without compromising vehicle longevity.
PM Modi inaugurates CG Semi chip plant in Sanand, Gujarat
Prime Minister Narendra Modi inaugurated India's third semiconductor manufacturing plant in Sanand, Gujarat, a significant stride in building a domestic chip ecosystem. This facility aims to bolster manufacturing, strengthen electronics supply chains, and reduce import reliance. Union Minister Ashwini Vaishnaw highlighted the rapid development of the sector, underscoring its national priority. Meanwhile, the Mumbai-Ahmedabad High-Speed Rail corridor is nearing completion, with an operational stretch anticipated in 2027.
Reliance market value now equals India's top five IT companies combined
A sharp selloff in Indian IT stocks has reduced the combined market capitalisation of the top five IT firms to nearly match Reliance Industries at around ₹18 lakh crore. AI disruption fears, weak technology spending and macro uncertainty continue to pressure the sector.
LME approves Adani's major copper smelter in India as listed brand
The London Metal Exchange has approved Adani Copper for delivery against its contracts, enabling warrant issuance from July 10. Produced by Adani Enterprises’ Kutch Copper unit in Gujarat, the facility has 500,000-tonne capacity. The move may boost India’s copper self-reliance and reduce import dependence amid steady domestic demand.
Maersk places order for 1,000 shipping containers with DCM Shriram Group
Global shipping giant AP Moller-Maersk has ordered 1,000 more India-made shipping containers from DCM Shriram Group. Union Minister Sarbananda Sonowal unveiled the first such container, marking a significant step towards self-reliance in maritime manufacturing. This partnership is set to boost India's global supply chain presence and manufacturing capabilities, supported by government initiatives promoting domestic production.
Container manufacturing scheme aims for 10x rise in domestic capacity: Sarbananda Sonowal
India has successfully manufactured its first export-import shipping container for global giant A.P. Moller-Maersk, marking a significant stride towards self-reliance in maritime manufacturing. This achievement, a direct result of Prime Minister Modi's 'Make in India' vision, underscores growing international confidence in India's capabilities.
Industrial park operator Ganesh Industrial to invest Rs 600 crore in NCR parks
Kolkata's Ganesh Industrial Complex is investing Rs 600 crore in new industrial parks across Delhi-NCR, targeting highway-adjacent locations. The company plans to develop around 110 acres in Haryana, leveraging strong demand from manufacturing and warehousing sectors. Ganesh Complex focuses on outright plot sales, creating integrated industrial ecosystems for clients like Amazon and Reliance, aiming for faster project execution and supply chain efficiencies in this key growth market.
Jewellers may be louped in for idle gold mobilisation
The government is exploring a revamped Gold Monetisation Scheme, aiming to involve jewellers for the first time to tap into the vast amount of household gold. This initiative seeks to reduce India's reliance on imported bullion, especially with gold prices and import duties impacting jewellery demand. Discussions involving ministers, the RBI, banks, and industry representatives are underway, with an announcement anticipated before the festive season.
Influencer boom masks growing ad fatigue as brands chase clicks over brand-building: Kantar
Indian marketers might be overestimating influencer impact, as a Kantar report reveals Gen Z fatigue with sponsored and AI ads. While creator content's reach is up, its brand connection is weak. Consumers are increasingly wary of AI-generated ads, finding them misleading and irritating. Experts warn that focusing solely on short-term metrics and over-reliance on AI risks alienating audiences and damaging long-term brand equity.
Reliance Jio, Amazon Leo spar over proposed satellite network framework
The framework creates a new category of companies that would operate satellite communication networks. Licensed telecom, satellite internet providers would then use this infrastructure to deliver satellite internet services. Jio has opposed granting spectrum rights to these infrastructure providers.