India

Nuvama Institutional Equities has reaffirmed a bullish outlook on Reliance Industries Ltd. (RIL), maintaining a ‘Buy’ rating with a revised target price of Rs. 1,801—projecting a 20% upside from current levels. The brokerage anticipates that RIL's New Energy division will emerge as a key growth driver, contributing up to 50% of profit after tax (PAT) by FY30. The segment, including solar modules and power, is forecast to grow net profit from Rs. 2,000 crore in FY27 to Rs.

In a notable shift in India’s automotive landscape, Hyundai’s Creta has become the best-selling passenger vehicle for June 2025, marking a significant milestone in its 10th anniversary year. With 15,786 units sold, the Creta edged out close competitors like Maruti Suzuki’s Dzire and Brezza, which recorded 15,484 and 14,507 units, respectively. The achievement underscores a broader industry trend: the increasing consumer preference for compact and mid-sized SUVs.

AU Small Finance Bank has announced a significant reshuffling and expansion of its leadership structure, appointing seasoned professionals to key roles across governance and operations. The board welcomes two new independent directors—experts in cybersecurity and human capital strategy—while new appointments across credit, operations, and commercial banking signal a deepening of strategic capabilities. With internal promotions in branch banking and unsecured lending, the bank is positioning itself for greater operational efficiency and broader customer outreach.

In a significant consolidation move in India's health insurance sector, Medi Assist Insurance TPA Pvt Ltd has finalized the acquisition of a 100% stake in Paramount Health Services & Insurance TPA. While both firms will maintain independent operations for the time being, the integration paves the way for strategic alignment and operational synergies. The acquisition brings Rs 4,000 crore in additional health premiums under administration for Medi Assist and significantly broadens its provider network.

Travel Food Services (TFS), a key player in India's travel-focused food and beverage (F&B) sector, is preparing to launch its Rs. 2,000-crore initial public offering (IPO) from July 7 to July 9, 2025. The issue, priced between Rs. 1,045 and Rs. 1,100 per share, is entirely an offer-for-sale (OFS) by the promoter entity, Kapur Family Trust, signaling a strategic shift without raising new capital. TFS, backed by global travel retail leader SSP Group, operates nearly 400 outlets across 14 Indian and 3 Malaysian airports.

India’s largest public sector lender, the State Bank of India (SBI), has formally categorized the loan account of Reliance Communications as fraudulent, escalating a long-standing financial saga involving the telecom company once led by Anil Ambani. SBI’s decision follows months of unanswered concerns over financial irregularities and breaches of loan terms. This classification, which aligns with similar action taken by Canara Bank in 2024, has significant regulatory implications.

HDB Financial Services, a key non-banking finance arm of HDFC Bank, commenced trading on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on July 2, 2025, following a resoundingly successful initial public offering (IPO). The offering, which closed on June 27, was oversubscribed nearly 27 times, highlighting strong demand from institutional and retail investors alike. Market momentum, bolstered by a grey market premium of Rs. 75, suggested a listing price of approximately Rs. 815 per share — a 10% premium over the issue price of Rs. 740.

Kia India has introduced the Carens Clavis EV, a seven-seater electric multi-purpose vehicle (MPV) set to launch on July 15. As the brand’s first mass-market electric vehicle in the country, the Carens Clavis EV blends familiar design cues from its internal combustion engine (ICE) counterpart with EV-specific innovations, including a distinctive closed grille and charging port. Boasting a 51.4 kWh battery and a driving range of up to 490 kilometers, this MPV is positioned as a compelling option in the niche segment, competing mainly with the BYD eMax 7.

Tata Motors is poised to commence bookings for the Harrier EV, a pioneering electric SUV that introduces all-wheel-drive (AWD) technology to India’s EV market. Starting at Rs 21.49 lakh (ex-showroom), the Harrier EV offers both rear-wheel-drive (RWD) and all-wheel-drive (QWD) variants, with the latter priced from Rs 28.99 lakh. Equipped with a 75kWh battery and dual motors delivering 504Nm torque, the AWD model promises an impressive range of up to 622 kilometers on a single charge.

Skyways Air Services Ltd, a leading player in air freight forwarding and logistics, has initiated its journey towards a public listing by filing a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi). The company plans to raise capital through a combination of a fresh issue and an offer for sale, aiming to strengthen its balance sheet by repaying debt and enhancing working capital. Founded in 1984 as a Custom House Agent, Skyways has evolved into a comprehensive logistics provider with revenues exceeding Rs. 1,289 crore in FY24.