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Clean Fanatics Raises $2M to Transform Home Services
Banking, Markets - June 23, 2025

Mutual Funds Now One-Third of Bank Deposits!

Mutual Funds Now One-Third of Bank Deposits!

The Indian mutual fund industry has amassed ₹72.2 trillion in assets under management (AUM), nearly one-third of total bank deposits, reflecting a notable shift in investor preferences and financial dynamics.

Summary:
India’s mutual fund industry has reached a new milestone, with assets under management (AUM) surging to ₹72.2 trillion as of May 2025—nearly one-third of the country’s total bank deposits, which stand at ₹232 trillion. This rapid growth highlights the evolving savings patterns of Indian households, driven by higher financial literacy, favorable market conditions, and a growing appetite for market-linked instruments over traditional savings products. Experts believe this trend signals a structural shift in the Indian economy, with far-reaching implications for capital markets, retail investors, and the banking sector.

India’s Mutual Fund Boom: A New Milestone
In a notable development that underscores the transformation of India’s financial landscape, the mutual fund industry achieved remarkable assets under management (AUM) of ₹72.2 trillion in May 2025, according to the latest data from the Association of Mutual Funds in India (AMFI). This marks the industry’s highest-ever AUM and now represents nearly one-third of the total bank deposits, which stood at ₹232 trillion during the same period.
This development signals a fundamental shift in the savings and investment patterns of Indian households, which have historically favored low-risk bank deposits and physical assets such as gold and real estate.

Retail Participation and SIP Culture Drive Growth
One of the most defining features of this growth is the exponential rise in retail participation. Systematic Investment Plans (SIPs) have emerged as the cornerstone of mutual fund inflows, with over ₹20,000 crore being invested monthly through SIPs. As of May 2025, the total SIP AUM crossed ₹10 trillion for the first time, driven by long-term retail investors consistently allocating small sums into equity and hybrid funds.
The number of mutual fund folios has also soared to over 18 crore, with most new investors coming from Tier-II and Tier-III cities, reflecting the success of digital outreach, fintech platforms, and investor education campaigns.

Why Are Investors Moving Away from Bank Deposits?
There are several reasons behind the migration of household savings from bank deposits to mutual funds:
Low interest rates on bank FDs: Traditional fixed deposits have offered real returns barely above inflation, especially after tax, making them unattractive for long-term wealth creation.
Higher returns from equity mutual funds: Over the past decade, equity mutual funds have delivered annualized returns of 10–14%, outperforming most fixed-income products.
Ease of investment through digital platforms: Fintech apps and mutual fund aggregators have simplified onboarding, KYC, and portfolio management, encouraging even novice investors to try mutual funds.
Tax efficiency: Mutual funds enjoy favorable tax treatment compared to bank FDs, particularly under capital gains rules.

Rise of Passive Funds and Debt Schemes
While equity funds continue to dominate headlines, there has been a parallel boom in passive investing and debt schemes. The Exchange Traded Fund (ETF) and index fund category now commands over ₹6 trillion in AUM, backed by government disinvestment programs, EPFO allocations, and rising retail interest.
Additionally, short-duration debt funds, liquid funds, and target maturity funds have attracted high-net-worth individuals (HNIs) and corporate treasuries seeking tax-efficient and flexible alternatives to fixed deposits.

The Institutional Push: Insurance, Pension, and EPFO
There has also been a rise in institutional involvement in mutual funds, especially from:
Life insurance companies allocating funds into debt and hybrid schemes.
Pension funds, including NPS and EPFO, increasing exposure to equity ETFs.
Corporate treasuries, deploying surplus funds into liquid and ultra-short duration funds for better yield management.
This institutional influx has added stability to inflows and diversified the investor base beyond retail.

Implications for Banks and Financial Markets
The surge in mutual fund AUM vis-à-vis bank deposits raises important macroeconomic and financial sector implications:
Liquidity Competition: Banks may face competition for household savings, especially if they fail to offer attractive deposit rates or innovative products.
Capital Market Deepening: A larger mutual fund industry facilitates long-term capital formation, enhances liquidity in equity and debt markets, and supports government borrowing programs.
Asset Diversification: Indian households are gradually becoming more diversified in their asset allocation, which reduces overall systemic risk and enhances financial resilience.
Policy Influence: With trillions of rupees under management, mutual funds are becoming a more influential voice in corporate governance, ESG adoption, and shareholder activism.

Risks to Watch: Market Volatility and Mis-selling
While the mutual fund industry is on a positive path, it also encounters significant challenges.
Market dependency: Since returns are market-linked, sharp corrections in equity or bond markets could cause panic redemptions, especially among first-time investors.
Regulatory scrutiny: SEBI has tightened disclosure norms to ensure transparency, but mis-selling and improper risk disclosures remain areas of concern.
Overvaluation risks: As retail money chases momentum stocks, fund managers face difficulty finding value picks without increasing portfolio risk.
Industry leaders are advocating for more investor education, robust risk assessment tools, and long-term investment orientation to sustain the industry’s credibility and resilience.

What Lies Ahead?
If current trends hold, experts project mutual fund AUM to cross ₹100 trillion by FY2027, possibly equaling half of India’s bank deposits. The lines between traditional banking and investment-led savings are increasingly blurring, giving rise to a more mature, digitally-enabled, and risk-aware financial ecosystem.
The real winner of this transformation is the Indian retail investor, who is now empowered with access to professionally managed portfolios, real-time transparency, and the potential for long-term wealth creation.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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VA Tech Wabag Projects Strong 15-20% Revenue growth

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Groww Q2 FY26: Profit Growth Amid Revenue Pressure
Equities, Market News - June 23, 2025

VA Tech Wabag Projects Strong 15-20% Revenue growth

VA Tech Wabag Projects Strong 15-20% Revenue growth

Company foresees robust expansion fueled by global contracts and operational efficiency.

Ambitious Revenue Growth Target

VA Tech Wabag aims to achieve an annual revenue increase between 15% and 20% over the next three to five years. The company’s Chief Financial Officer, Skandaprasad Seetharaman, highlighted that this target stems from a strategic pivot toward securing larger, more complex projects, particularly in international and industrial markets.

Healthy Order Book Fuels Confidence

Currently, VA Tech Wabag holds an order backlog of about ₹11,400 crore, providing a clear revenue runway for the coming years. The company is targeting to expand this order pipeline to nearly ₹16,000 crore by the end of the fiscal year. Significant recent wins include a ₹3,251 crore wastewater treatment contract in Riyadh, which has pushed the order book close to ₹14,200 crore.

Expanding International Footprint

The company is aggressively focusing on global markets like the Middle East, Africa, Southeast Asia, and the Commonwealth of Independent States (CIS), where there is better access to funding and larger contracts. At present, international operations contribute roughly 38–40% of VA Tech Wabag’s total revenues, with plans to increase this share in the coming years.

Maintaining Strong Profit Margins and Cash Flows

VA Tech Wabag intends to keep its EBITDA margins within a range of 13% to 15%. The company is also enhancing its portfolio of higher-margin services, especially operations and maintenance (O\&M), which currently make up about 17% of revenue and are expected to grow to 20%.

Financially, VA Tech Wabag has shown solid free cash flow generation, estimated between ₹300 crore and ₹350 crore for FY25, while maintaining a positive net cash balance fluctuating between ₹236 crore and ₹700 crore throughout the year.

Strategic Move Toward Asset-Light Business Model

In a bid to improve operational efficiency and reduce capital intensity, VA Tech Wabag is transitioning away from traditional construction-heavy EPC (engineering, procurement, and construction) projects toward asset-light engineering and procurement (EP) contracts. Currently, EP contracts constitute roughly one-third of total EPC revenue, supporting better margins and lowering working capital needs.

Positive Analyst Outlook

Sharekhan and Axis Securities have recommended the stock as a ‘Buy,’ citing strong margin performance, steady order inflows, and expanding global presence. YES Securities forecasts an 18–19% revenue CAGR for FY26 and FY27, expecting EBITDA margins to move towards the higher end of the company’s guided range.

Potential Risks to Monitor

Despite the encouraging outlook, challenges such as rising steel and raw material prices, possible delays in executing international projects, and fluctuations in working capital could impact near-term performance. However, the company’s solid order backlog and move towards an asset-light model provide a buffer against these risks.

Conclusion

With a robust order book, growing international business, and a strategic focus on profitable contract segments, VA Tech Wabag is well-positioned for sustained double-digit growth over the next several years. Strong cash flow and healthy margins further support this growth trajectory, although market dynamics and execution efficiency remain key factors to watch.

Summary:
VA Tech Wabag targets 15–20% annual revenue growth over the next 3–5 years, driven by a strong ₹14,200 crore order book and expanding international markets. The firm is shifting toward asset-light contracts and boosting higher-margin O&M services to improve profitability. While inflation and project delays remain risks, VA Tech Wabag’s financial health and strategic direction inspire analyst confidence.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Sambhv Launches IPO, Sets ₹2,400 Crore Valuation

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Indian Startups Accelerate IPO Parade as Market Matures in 2025
Economy, IPO research, Market News - June 23, 2025

Sambhv Launches IPO, Sets ₹2,400 Crore Valuation

Sambhv Launches IPO, Sets ₹2,400 Crore Valuation

IPO Overview: Price Band and Fundraising Target

Sambhv Steel Tubes, a leading Indian manufacturer of electric resistance welded (ERW) pipes, has opened its initial public offering (IPO) with a price range between ₹77 and ₹83 per equity share. At the higher end of the band, the company’s post-issue valuation reaches around ₹2,400 crore.

The IPO aims to raise up to ₹540 crore, which includes a fresh share issue worth ₹440 crore and an offer-for-sale (OFS) component of ₹100 crore, where existing promoters and shareholders will divest part of their stakes.

Purpose of the Issue: Strengthening Finances and Operations

The majority of the funds raised through the fresh issue—around ₹390 crore—will be used to repay outstanding borrowings. This move is intended to ease the company’s debt burden and improve financial stability.

The remaining proceeds will support general business activities, such as improving working capital, pursuing expansion opportunities, and upgrading operational efficiency across its existing value chain.

Company Profile: Vertically Integrated Manufacturing Advantage

It operates a backward-integrated production facility in Raipur, Chhattisgarh, allowing it to control the full production lifecycle—from sponge iron to hot-rolled coils to finished pipes.

This integration gives Sambhv a competitive edge by reducing dependence on external suppliers and ensuring better cost control and product quality throughout its manufacturing operations.

Distribution Network and Market Presence

As of the end of FY24, Sambhv had an annual production capacity of approximately 600,000 tonnes. The company services customers through 33 distributors spread across 15 Indian states and one union territory, backed by a retail network of over 600 dealers.

Its product range caters to multiple sectors, including infrastructure, telecom, oil and gas, automotive, agriculture, firefighting, and solar—positioning it as a well-diversified steel tube supplier.

Promoters and Shareholding Details

Founded in 2017 under the name Sambhv Sponge Power, the company rebranded in 2024 to better align with its core business in steel pipes.

The promoter group includes members of the Goyal family—namely Brijlal, Suresh Kumar, Vikas, Sheetal, Shashank, and Rohit Goyal—who will collectively divest ₹100 crore worth of shares through the OFS component of the IPO.

Financial Highlights: Consistent Revenue and Profit Growth

Sambhv reported strong financial results in FY24, with revenue rising to ₹1,286 crore, up from ₹937 crore in FY23—representing a growth of 37%.

This performance reflects the company’s increasing operational efficiency and growing demand for domestically manufactured ERW pipes.

According to CRISIL, the Indian market for steel pipes and tubes is expected to grow at a compound annual growth rate (CAGR) of 8–9%

IPO Allocation and Structure

The IPO will follow a book-building process. 50% of the shares are reserved for Qualified Institutional Buyers (QIBs), 15% for High Net-Worth Individuals (HNIs), and the remaining 35% for retail individual investors.

This allocation model is designed to ensure balanced participation from large institutions and retail investors alike, potentially increasing the stability and attractiveness of the IPO.

Use of Proceeds:

A major portion of the capital raised will go toward repaying loans, which is expected to reduce interest burdens and enhance the company’s credit profile.

The remaining funds will be used for operational improvements and scaling business operations to meet rising demand across sectors. This includes investments in working capital and modernization of production facilities.

Investment Perspective: Opportunities and Risks

Its backward-integrated operations and expanding market presence make it a strong contender in the ERW pipe space.

However, prospective investors should be aware of potential challenges such as fluctuations in global steel prices, supply chain constraints, and risks tied to aggressive capacity expansion. Managing these effectively will be key to sustaining margins and returns.

Conclusion: A Strong Step Toward Public Growth

Sambhv Steel Tubes’ IPO is a strategic move to capitalize on its growth trajectory, improve its balance sheet, and strengthen market positioning. With a valuation of ₹2,400 crore and a well-structured offering, the company aims to build investor confidence while driving its long-term expansion in India’s infrastructure-driven economy.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Apple Needs Bold M&A for AI Competitiveness

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Nvidia Surpasses Apple, Becomes Most Valuable Ever!
business update, Market News, Markets - June 23, 2025

Apple Needs Bold M&A for AI Competitiveness

Apple Needs Bold M&A for AI Competitiveness

As the AI revolution reshapes the tech landscape, Apple’s traditional acquisition strategy may no longer suffice. Bold bets and unconventional M&A moves could be key to catching up with rivals like Microsoft, Google, and Meta.

Summary:
Apple’s conservative mergers and acquisitions (M&A) strategy, focused on small, strategic buys, has served it well in the past. However, as artificial intelligence becomes the next big frontier in technology, the iPhone maker might need to rethink its playbook. With Microsoft’s multi-billion-dollar OpenAI alliance and Google’s aggressive AI investments, Apple risks falling behind unless it embraces larger, transformative deals that can accelerate its AI capabilities and product integration.

Apple’s AI Aspirations Face Strategic Hurdles
Apple Inc., the world’s most valuable tech company, is on a mission to assert its presence in the artificial intelligence (AI) arms race. With the rapid rise of generative AI tools and foundational models such as ChatGPT and Gemini, tech giants are aggressively acquiring talent, forging partnerships, and deploying capital to dominate the next computing era.
Apple’s cautious approach to mergers and acquisitions, focusing on smaller, integration-driven deals, may hinder its ability to compete in the fast-paced AI industry. Experts suggest that if Apple doesn’t adjust its risk-averse strategy, it could fall behind.

The Comfort Zone: Small, Strategic Acquisitions
Apple’s acquisition history reveals a pattern of precision and patience. From buying Siri in 2010 to acquiring AI-focused startups like Turi, Xnor.ai, and Vilynx, the company has consistently opted for small-to-mid-sized deals, typically under $200 million. These acquisitions are often aimed at enhancing specific features or absorbing niche teams rather than transforming entire business units.
This strategy has worked well in areas like chip design (e.g., the acquisition of P.A. Semi in 2008) and camera technology (Linx Imaging in 2015), where Apple quietly builds proprietary advantages into its devices. Yet, AI — especially generative AI — is playing out at a much different scale.

Rivals Are Writing Bigger Checks
Microsoft has committed over $13 billion to OpenAI, gaining early access to GPT models that now power its Copilot suite in Office, Azure, and Windows. Google has invested heavily in DeepMind and Anthropic, while Meta continues to build and open-source its LLaMA models.
These tech leaders are not just buying capabilities—they are shaping the future of foundational AI infrastructure. These moves reflect a recognition that controlling the core AI models, talent, and data pipelines is vital to maintaining competitive edge.
Apple’s absence from this top-tier AI infrastructure race is glaring despite announcements at WWDC 2024 about “Apple Intelligence,” the company has yet to showcase a model that rivals GPT-4, Claude, or Gemini in scale or capability.

Apple Intelligence: A Promising Start, But Not Enough
In June 2024, Apple unveiled “Apple Intelligence,” its suite of generative AI features to be integrated into iOS 18 and macOS Sequoia. The tools, including a revamped Siri, summarization capabilities, and intelligent writing assistants, were positioned as privacy-first and device-optimized.
To many, this marked Apple’s cautious entry into the generative AI fray. It even announced a partnership with OpenAI to integrate ChatGPT access into Siri — a rare move that implicitly acknowledged Apple’s limitations in foundational model development.
However, critics point out that such reliance on a third-party model reveals Apple’s strategic vulnerability in AI. Unlike its rivals, Apple doesn’t yet own or control a flagship model — a potential bottleneck for future innovation and monetization.

Why Apple Needs to Shift Its M&A Mindset
To build or acquire competitive large language models (LLMs), Apple will likely need to step out of its M&A comfort zone. This could involve:
Acquiring a model developer or AI lab: Apple could explore acquiring or investing in companies like Anthropic, Cohere, Mistral, or even open-source leaders like Hugging Face.
Merging with or buying enterprise AI platforms: Acquiring companies with scalable enterprise AI solutions could fast-track Apple’s AI-as-a-service ambitions.
Forming deeper equity alliances: Rather than standard licensing deals, equity-based strategic partnerships could offer access and influence over AI development roadmaps.
Such moves would demand Apple to deploy significantly larger checks—potentially in the multi-billion-dollar range—and embrace a more public, competitive stance in the M&A arena, which has traditionally clashed with Apple’s secretive corporate culture.

Balancing AI Innovation with Apple’s Core Values
One of Apple’s unique selling points is its commitment to privacy and ecosystem control. The company’s approach to AI — where data processing happens on-device, and user information isn’t fed into training loops — is appealing in a world of surveillance capitalism.
Any AI acquisition or partnership should align with Apple’s philosophy. However, Apple should focus on developing its own foundational model that emphasizes efficiency, privacy, and reliability to establish a trusted AI brand.

Regulatory Landscape: A Double-Edged Sword
Interestingly, Apple’s significant size and market influence could lead to increased antitrust scrutiny if it seeks to engage in large-scale mergers and acquisitions. The company is already under investigation in the U.S. and EU for App Store practices and anti-competitive behaviour.
Yet, the increasingly regulated AI space might also work to Apple’s advantage. Its emphasis on privacy, safety, and ethical AI could allow it to lead in “responsible AI,” potentially sidestepping some of the regulatory traps its rivals face with aggressive data harvesting.

The Road Ahead: Will Apple Make a Bold Move?
Apple has built its empire by zigging when others zag — with a focus on product polish, user trust, and vertical integration. However, AI may require a more horizontal, expansive strategy.
For Apple to truly lead in the AI future, it must move faster, think bigger, and buy bolder. Apple is now ready to step out of its M&A comfort zone and take a significant position in the upcoming technological revolution.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Markets on Edge: Global Tensions and Domestic Triggers

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Read More
How India’s Fiscal & Monetary Settings Are Shaping Investment Flows
Economy, IPO research, Market News - June 23, 2025

Markets on Edge: Global Tensions and Domestic Triggers

Markets on Edge: Global Tensions and Domestic Triggers

From Middle East conflict to IPOs and foreign flows, multiple factors are set to steer the Indian stock market this week.

Rising Geopolitical Uncertainty: Israel-Iran Conflict in Focus

Recent military developments in the Middle East, including reported airstrikes and countermeasures, have raised alarms across global markets.

Brent crude hovering near the \$80 per barrel mark is particularly worrisome for an energy-import-dependent economy like India.

Higher oil prices could impact inflation, widen the current account deficit, and put additional pressure on the Indian rupee, which is already approaching the 87 mark against the U.S. dollar. Investors are likely to adopt a risk-averse stance, with volatility expected across mid- and small-cap segments.

Foreign and Domestic Investment Flows

Foreign Institutional Investors (FIIs) have recently displayed a mixed trend, oscillating between net buyers and sellers depending on global cues and domestic market sentiment. The ongoing geopolitical stress may push FIIs to adopt a cautious approach, potentially withdrawing or pausing inflows in the short term.

At the same time, Domestic Institutional Investors (DIIs) have been providing a counterbalance by maintaining a steady flow of capital into Indian equities. Their participation may continue to support market stability, especially in large-cap and defensive sectors like FMCG, IT, and pharmaceuticals.

IPO Activity Gathers Momentum

On the domestic front, primary markets are heating up. Several companies are either opening their IPOs or listing on the exchanges this week, attracting significant investor attention.

Other ongoing or upcoming IPOs in sectors like infrastructure, renewables, and manufacturing may also impact liquidity, especially as retail and institutional investors realign portfolios to participate in these public offerings.

Economic Indicators and Global Cues

Domestically, key figures such as the fiscal deficit, foreign exchange reserves, and GST collection data are due in the coming days. Any surprises in these metrics could spark sharp sector-specific movements.

Sectoral View: Defensive and Export-Driven Stocks May Gain

With the current level of uncertainty, defensive sectors are expected to outperform. FMCG and IT stocks—typically seen as safer bets—could attract capital due to their stable earnings outlook and relatively lower exposure to inflationary pressures.

However, companies heavily reliant on imported raw materials could face margin pressures due to rising input costs.

Technical Outlook and Market Sentiment

On the technical side, the Nifty 50 faces resistance near the 23,500–23,600 level, while support remains around 22,900. A decisive breach in either direction could define near-term momentum.

Market sentiment remains sensitive to headline risk. Analysts expect increased volatility through the week, with traders likely to adopt a cautious, stock-specific approach rather than broad index bets.

Conclusion: Brace for Volatility Amid Mixed Signals

The Indian stock market is likely to experience heightened volatility in the coming week, driven by a complex mix of global tensions, IPO activity, foreign fund flows, and macroeconomic data. Investors are advised to remain cautious, focus on fundamentally sound stocks, and maintain diversified portfolios.

Traders, in particular, should be prepared for swift market reactions to news related to oil prices, geopolitical developments, and upcoming domestic economic indicators.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Bitcoin Dips Below $77K, Ether Drops 6%!

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Bitcoin Dips Below $77K, Ether Drops 6%!
Economy, Market News - June 23, 2025

Bitcoin Dips Below $77K, Ether Drops 6%!

Bitcoin Dips Below $77K, Ether Drops 6%!

Broader Risk-Off Sentiment Sparks Crypto Selloff as Investors Brace for Economic Uncertainty and U.S. Rate Jitters

Summary:
Bitcoin fell below the $77,000 threshold on Tuesday, extending its recent losses as global stock markets sold off sharply. Ether followed suit with a 6% decline, reflecting broader risk aversion among investors. Experts cite upcoming macroeconomic data, U.S. rate outlook, and overbought technicals as key reasons for the correction. However, strong buying support is expected around $73,000–$70,000 for Bitcoin, suggesting a possible short-term floor for the leading cryptocurrency.

Crypto Markets Crumble as Equities Weaken
In a sharp turn of sentiment, the cryptocurrency market slipped into the red early Tuesday, led by declines in Bitcoin and Ether. At 10:22 a.m. in Singapore, Bitcoin was trading at $79,477, having briefly breached the $77,000 mark. Ether, the second-largest cryptocurrency, fell by 6%, sparking wider worries across the digital asset market.
This decline comes amid a global selloff in risk assets, with equity markets from Asia to Europe facing pressure from a hawkish U.S. Federal Reserve, fragile economic data, and rising geopolitical risks. The correlation between crypto and traditional financial markets appears to be strengthening, particularly during periods of volatility.

Investor Caution Rises Ahead of U.S. Economic Data
Investors are becoming more cautious as the market prepares for important U.S. economic reports coming later this week, such as jobless claims, consumer spending figures, and an inflation report that many observers are paying close attention to. These data points are expected to offer more clarity on the Federal Reserve’s stance regarding interest rate cuts in 2025.
The uncertain rate outlook has put pressure on speculative assets like crypto. Higher yields make traditional assets more attractive, diminishing the appeal of non-yielding, volatile instruments like Bitcoin.
Hayden Hughes, head of crypto investments at family office Evergreen Growth, highlighted this sentiment by stating, “There will be strong buying at the $73,000 and $70,000 levels.” He believes those levels represent technical support zones that could trigger renewed accumulation.

Risk-Off Sentiment Intensifies as Bulls Retreat
The recent downtrend has caught several bullish traders off guard. Bitcoin had rallied strongly in early 2025, briefly touching all-time highs near $84,000, driven by strong ETF inflows, halving anticipation, and increasing institutional interest. However, the recent correction suggests the bull run may be cooling off, at least in the short term.
Technical analysts point out that Bitcoin’s Relative Strength Index (RSI) has reached overbought territory, suggesting that a pullback may be on the horizon. Given the broader economic challenges, the selloff seems to represent more of a consolidation phase rather than a trend reversal.

Ether Slides Sharply: Regulatory Uncertainty Lingers
While Bitcoin’s decline was relatively measured, Ether’s 6% drop reflects deeper concerns. The Ethereum ecosystem continues to face regulatory scrutiny, particularly in the U.S., where the Securities and Exchange Commission (SEC) has yet to offer clear guidelines on Ethereum’s status.
Additionally, the slow uptake of Ethereum Layer-2 scaling solutions and delays in expected upgrades have dulled enthusiasm around Ether. Institutional interest remains primarily focused on Bitcoin, further widening the divergence between the two leading digital assets.

Altcoins, DeFi, and NFTs Follow Suit
The overall cryptocurrency market reflected the losses experienced by the leading coins. Key altcoins like Solana (SOL), Avalanche (AVAX), and Polkadot (DOT) all dropped 4–8%, while primary DeFi tokens, including Aave, Compound, and Uniswap, also saw red. The NFT sector continues to face liquidity issues and declining floor prices, further evidence of declining speculative interest.
The total market capitalization of cryptocurrency has dropped below $2.9 trillion, declining by almost $100 billion in just 24 hours, as reported by CoinMarketCap. Trading volumes surged, indicating panic selling or aggressive rebalancing by traders and institutions alike.

What’s Next? A Recovery or Prolonged Consolidation?
Despite short-term weakness, most analysts remain optimistic about crypto’s long-term growth trajectory. Factors like Bitcoin ETF inflows, rising global inflation hedging, and blockchain innovation are expected to drive medium- to long-term adoption.
Short-term price action will largely depend on how markets digest macroeconomic data and Fed commentary over the coming weeks. If the Fed signals a pause or potential cuts by year-end, crypto could rebound strongly.
On the other hand, continued rate-tightening rhetoric or weak economic data could push Bitcoin closer to the $70,000 support area—possibly testing market conviction before another leg higher.

Expert Insights: Is This a Buying Opportunity?
While fear has returned to the market, some seasoned investors view the correction as a healthy pullback. According to Hughes, “This isn’t the end of the bull run—it’s a breather. Smart money will start accumulating at key technical levels.”
Long-term holders, also known as “HODLers,” continue to maintain their positions, with on-chain data showing minimal movement of older wallets, suggesting conviction remains strong among core believers.

Key Takeaways:
Bitcoin fell below $77K amid global stock market turmoil.
Ether dropped 6%, reflecting broader weakness across altcoins.
Investors await U.S. economic data that could influence rate policy.
Analysts anticipate that there will be buying interest in Bitcoin within the range of $70,000 to $73,000.
Market fluctuations might persist until there is greater clarity in the macroeconomic landscape.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Raymond Realty Sets Bold Growth Trajectory: Six Project Launches and Higher Targets for FY26

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Raymond Realty Sets Bold Growth Trajectory: Six Project Launches and Higher Targets for FY26
business update, Markets, Real Estate - June 23, 2025

Raymond Realty Sets Bold Growth Trajectory: Six Project Launches and Higher Targets for FY26

Raymond Realty Sets Bold Growth Trajectory: Six Project Launches and Higher Targets for FY26

With residential developments worth ₹14,000 crore on the horizon and a July stock market listing, Raymond Realty is accelerating its evolution into a dominant force in India’s real estate industry.

A New Chapter for Raymond Realty: Independent Growth and Expansion
Raymond Realty is preparing for a pivotal FY26, with plans to launch six new residential developments in the Mumbai Metropolitan Region (MMR), targeting a combined sales potential of ₹14,000 crore. As the firm readies itself for a separate stock exchange listing on July 1, it is capitalizing on its extensive land assets, strong development pipeline, and reputation for quality to strengthen its foothold in India’s highly competitive residential real estate sector.

Spin-Off from Raymond Ltd and Strategic Market Entry
The real estate division of the Raymond Group is entering a new era as an independent entity. Post its demerger from Raymond Ltd—which will now concentrate on engineering ventures—Raymond Realty will be listed as a distinct company starting July 1, 2025. This structural shift aims to grant the realty arm greater strategic focus and flexibility to execute its expansion plans as a dedicated real estate developer.
Shareholders of Raymond Ltd will receive one Raymond Realty share for each share they currently own, maintaining their investment stake as the group transitions into its new phase.

FY26 Pipeline: Six Residential Developments Across MMR
Raymond Realty’s strategic roadmap for FY26 includes six residential launches in the MMR, collectively targeting ₹14,000 crore in sales bookings. These projects will cater to a diverse clientele, with offerings ranging from ₹2 crore to ₹20 crore, spanning both mid-range and high-end segments.
CEO Harmohan Sahni reiterated the company’s commitment to delivering quality homes on schedule. Having already completed two residential developments since its 2019 inception and with six more underway, the firm has built a credible reputation in the Thane and Mumbai markets.

Expanding Reach Through Land Bank and Strategic Collaborations
The company’s sizable land holdings in the MMR continue to be a key enabler of its growth. With a total gross development value (GDV) of ₹40,000 crore and projects worth ₹10,500 crore already underway, Raymond Realty is well-placed to meet rising housing demand in the region.
In pursuit of asset-light growth, the company is actively exploring joint development agreements (JDAs) to unlock value from additional land parcels. Notably, recent JDAs in Mahim and Wadala, estimated at ₹6,800 crore, are projected to significantly contribute to annual pre-sales within the next two years. Expansion into Pune’s residential market is also on the radar under this model.

Strong Financials and Future Roadmap
Raymond Realty posted a robust performance in FY25, with revenue increasing 45% to ₹2,313 crore and profit before tax reaching ₹370 crore, up from ₹1,593 crore in the previous fiscal year. This growth underscores effective execution and healthy market traction.
The roadmap includes an annual topline growth target of 15% and a 25% rise in EBITDA, anchored by a disciplined, debt-free financial strategy.

Riding the Real Estate Momentum in Mumbai
Mumbai continues to serve as the primary hub for Raymond Realty’s expansion and strategic development efforts.
As the city contributes around 28% of residential sales across India’s top ten cities, the company’s focus on mid-size and premium housing aligns with evolving urban lifestyles and increasing demand for quality homes.
Despite caution from credit agencies and rising home prices, Raymond Realty remains optimistic. Residential property values in Mumbai have climbed by 7–8%, with this trend expected to hold steady.

Vision for the Future: Community, Trust, and Excellence
Raymond Realty’s objective surpasses mere housing development—it is dedicated to nurturing dynamic, seamlessly integrated communities.
By prioritizing high construction standards, timely project completion, and customer satisfaction, the company is building a brand anchored in trust and long-term value.
Its expanding portfolio, asset-light growth model, and sound financial health place Raymond Realty in a strong position to influence the future of Indian urban living.

Conclusion
With its sights set on FY26, Raymond Realty is making significant strides as a standalone real estate firm. The scheduled launch of six projects in MMR, a projected ₹14,000 crore in sales bookings, and a July stock market listing highlight its growth ambitions. Backed by a rich land bank, a sharp financial strategy, and an unwavering commitment to quality, the company is poised to redefine its role in India’s dynamic real estate landscape.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Emcure Pharma’s Full Acquisition of Zuventus Healthcare: A Strategic Leap in Indian Pharma

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Max Healthcare Institute Limited Q1 FY26 Results: Steady Growth & Strategic Expansion
Business, Market News - June 23, 2025

Emcure Pharma’s Full Acquisition of Zuventus Healthcare: A Strategic Leap in Indian Pharma

Emcure Pharma’s Full Acquisition of Zuventus Healthcare: A Strategic Leap in Indian Pharma

Emcure Pharmaceuticals is set to acquire the remaining 20.42% stake in Zuventus Healthcare for ₹724.9 crore, clearing the path for full ownership and improved operational integration.

Introduction
Emcure Pharmaceuticals has announced its decision to buy out the remaining 20.42% minority stake in Zuventus Healthcare for Rs 724.9 crore. This development will transform Zuventus into a wholly owned subsidiary, enabling Emcure to streamline its operations, enhance its domestic footprint, and tap into new growth prospects within India’s dynamic pharmaceutical market.

Emcure’s Strategic Acquisition: The Details
Emcure Pharmaceuticals, a prominent player in India’s pharmaceutical sector, has secured board approval to purchase the remaining 20.42% stake in Zuventus Healthcare from minority shareholders. The deal, valued at Rs 724.9 crore, will be executed in cash and may be settled in one or more tranches, depending on the closure timeline and final valuation.
Currently, Emcure holds a 79.58% stake in Zuventus. Following the completion of the deal, anticipated in the September quarter of FY26, Emcure Pharmaceuticals will gain full ownership of Zuventus Healthcare, making it a 100% subsidiary.

Why This Acquisition Matters
Full Financial and Operational Control
By moving to 100% ownership, Emcure will be able to:
• Fully consolidate Zuventus’s financials into its own, simplifying reporting and improving transparency.
• Align business strategies across both companies, unlocking operational synergies and eliminating any management or shareholder conflicts.
• Drive long-term value creation by leveraging the strengths of both entities in the domestic market.

Strategic Focus on the Indian Market
Emcure has emphasized that the domestic market remains a top priority. This acquisition will help the company:
• Strengthen its position in India’s pharmaceutical sector, which is marked by intense competition and rapid growth.
• Streamline its product portfolio and sales channels, ensuring better market penetration and customer reach.
• Unlock new opportunities for launching innovative therapies and expanding its reach in key therapeutic segments.

Financials and Transaction Structure
• Deal Value: Rs 724.9 crore, to be paid in cash based on a formal valuation.
• Current Holding: Emcure owns 79.58% of Zuventus Healthcare.
• Stake to Be Acquired: 20.42% from minority shareholders.
• Expected Completion: July–September quarter of FY26, subject to regulatory and procedural formalities.
• Zuventus Financials: For the year ending March 31, 2025, Zuventus reported revenue of Rs 1,080 crore and net income of Rs 130 crore.

Industry Impact and Future Outlook
Consolidation Trend in Indian Pharma
This acquisition is part of a broader trend in the Indian pharmaceutical industry, where leading firms are consolidating their holdings to improve efficiency, scale, and market reach. With full integration of Zuventus, Emcure aims to strengthen its competitive edge against both domestic and global pharmaceutical companies.
Operational Synergies
With complete ownership, Emcure can:
• Optimize supply chains and manufacturing processes.
• Integrate research and development efforts.
• Enhance marketing and distribution networks.
• Accelerate decision-making and reduce administrative overhead.
These synergies are expected to improve margins, foster innovation, and support the launch of new products.
Investor and Market Reactions
The deal has been well received by analysts, who see it as a positive step for Emcure’s long-term growth. Full consolidation of Zuventus is expected to provide clarity to investors and potentially boost Emcure’s valuation in the public markets.

What’s Next for Emcure and Zuventus?
Once the transaction is completed, Emcure will focus on:
• Integrating Zuventus’s operations and teams.
• Leveraging Zuventus’s strong presence in select therapeutic areas.
• Exploring new product launches and market expansion opportunities.
• Delivering on its promise of value creation for shareholders and stakeholders.
With the Indian pharmaceutical market projected to grow steadily over the next decade, Emcure’s move to fully acquire Zuventus places it in a strong position to capitalize on emerging opportunities and navigate industry challenges.

Conclusion
Emcure Pharmaceuticals’ Rs 724.9 crore acquisition of the remaining stake in Zuventus Healthcare marks a significant milestone in its growth journey. By securing full ownership, Emcure is set to enhance its operational efficiency, strategic alignment, and market competitiveness. The move underscores the company’s commitment to consolidating its domestic leadership and driving long-term value in India’s dynamic pharmaceutical sector.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Shivalic Power Control Ltd Secures Major Domestic Orders, Reinforcing Industry Leadership

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Torrent Power Q2 FY26: Profit Surges ~50%, Powered by Strong Generation and Lower Finance Costs
business update, Market News - June 23, 2025

Shivalic Power Control Ltd Secures Major Domestic Orders, Reinforcing Industry Leadership

Shivalic Power Control Ltd Secures Major Domestic Orders, Reinforcing Industry Leadership

Recent contracts worth over Rs 1 crore and a string of high-value deals underscore Shivalic Power Control’s dominance in India’s electrical panel manufacturing sector.

Introduction
Shivalic Power Control Ltd, a leading manufacturer of electrical panels, has clinched new domestic orders totaling Rs 1,06,00,000 from electrical contractors. This win, alongside a series of recent high-value contracts, highlights the company’s robust growth, technological prowess, and expanding market presence in India’s rapidly evolving power infrastructure sector.

Shivalic Power Control: A Snapshot of Excellence
Founded in 2004, Shivalic Power Control Ltd (SPCL) has grown into one of India’s most trusted names in electrical panel manufacturing. The company’s diverse product portfolio includes Power Control Center (PCC) panels, Intelligent Motor Control Center (IMCC) panels, Smart panels, Motor Control Center (MCC) panels, DG Synchronization panels, high-tension (HT) panels up to 33kV, variable frequency drive (VFD) panels, and power distribution boards, among others.
SPCL’s state-of-the-art manufacturing facility in Ballabgarh, Haryana, spans 1.25 lakh square feet and is equipped to produce 10,000 verticals annually. The company’s dedication to quality, innovation, and safety is evident through its ISO certifications and compliance with global standards like IEC 61439-1&2.

Recent Order Wins: A Testament to Market Trust
Rs 1.06 Crore Order from Electrical Contractors
In June 2025, Shivalic Power Control Ltd announced a significant domestic order valued at Rs 1,06,00,000. The contract covers a range of electrical panels, including HT switchboards, MCCB boxes, and various customized solutions, with execution scheduled for completion within the next few months.
Other Major Contracts in 2025
• Rs 2.31 Crore LT Panel Orders:
In April 2025, SPCL secured two separate contracts for low-tension (LT) panels from CBG and Mahagun, valued at Rs 1.52 crore and Rs 79 lakh, respectively. Both projects are slated for completion by July 2025, further strengthening the company’s order book.
• Rs 3 Cr deal happened with the GMT Industries:
In March 2025, Shivalic got a ₹3 crore contract from GMT Industries Limited for the provision of LT panels. This project, scheduled for completion by May 2025, is a major boost to the company’s growth trajectory and market reputation.
• Rs 49.95 Lakh Order from Vayu:
At the close of 2024, SPCL secured a Rs 49.95 lakh order from Vayu, a domestic client, with project completion targeted for March 2025.
• Rs 6.2 Million Order from Solid Properties:
In January 2025, the company was awarded a Rs 62 lakh order from Solid Properties Pvt Ltd for LT panels, with execution set for mid-April 2025.
• Rs 3.5 Million Contract Secured from Victora Auto
Also in January, SPCL won a Rs 35 lakh LT panel contract from Victora Auto Pvt Ltd, demonstrating its appeal across diverse industrial sectors.

Product Range and Technological Edge
Shivalic Power Control’s product suite is tailored to meet the needs of over 15 industrial sectors in India and abroad, including Nepal, Bangladesh, and several African nations. The company is renowned for:
• Custom Solutions:
Offering panels for automatic power factor correction, firefighting, VFD/AC drives, and more.
• Technical Partnerships:
Collaborating with top industry players like L&T, Schneider Electric, Siemens, and TDK to provide fully certified type-tested panels.
• Manufacturing Excellence:
Its facility is designed for seismic resistance and internal arc testing, ensuring maximum safety and reliability.

Financial Performance and Market Impact
SPCL’s robust order inflow has translated into strong financial results. For the fiscal year ending March 2024, the company reported a 55.5% jump in consolidated net profit to Rs 11.21 crore, alongside a 24.4% increase in revenue to Rs 102.18 crore over the previous year. The company’s shares have shown a positive trend, indicating strong investor confidence in its future growth potential.
Notably, the company maintains transparency in its transactions, with recent contracts not involving related parties or promoter interests, reinforcing its credibility in the market.

Industry Outlook and Strategic Positioning
The Indian electrical infrastructure sector is witnessing rapid expansion, driven by urbanization, industrial growth, and government initiatives in power and smart grid projects. Shivalic Power Control’s consistent order wins, technological partnerships, and focus on quality position it as a preferred supplier for both public and private sector projects.
SPCL’s ability to secure repeat business from major clients and its push into high-growth markets like HT panels (which contributed 94% of FY24 revenue) signal a bright outlook for the company.

Conclusion
Shivalic Power Control Ltd’s recent ₹1.06 crore order, along with a series of substantial contracts in 2025, highlights its strong position in India’s electrical panel manufacturing sector. With a strong product portfolio, cutting-edge manufacturing, and a growing client base, SPCL is well-placed to capitalize on the nation’s infrastructure boom. As the company continues to deliver on large-scale projects and expand its technological capabilities, it stands out as a beacon of reliability and growth in the sector.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Tel Aviv Stock Exchange Soars as U.S. Enters Israel-Iran Conflict

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Economy, Markets - June 23, 2025

Tel Aviv Stock Exchange Soars as U.S. Enters Israel-Iran Conflict

Tel Aviv Stock Exchange Soars as U.S. Enters Israel-Iran Conflict

Despite missile barrages and rising geopolitical risks, Israeli equities rally to record highs, while Gulf markets show mixed reactions as the U.S. targets Iran’s nuclear sites.

Introduction
The Tel Aviv Stock Exchange (TASE) has soared to record levels after the U.S. military launched direct strikes on critical Iranian nuclear sites, intensifying its involvement in Israel’s ongoing conflict with Iran.
While Israeli equities display remarkable resilience, Gulf markets—particularly in Kuwait and Oman—have experienced volatility, reflecting investor concerns about regional escalation. This article explores the latest developments, market reactions, and what lies ahead for the region’s financial landscape.

U.S. Strikes on Iran: A New Phase in Regional Tensions
Early Sunday, the U.S. military, under President Donald Trump, launched coordinated airstrikes on three major Iranian nuclear sites: Fordo, Isfahan, and Natanz. This intervention marks a dramatic escalation in the Israel-Iran conflict, which had already entered its second week of hostilities. The U.S. used advanced B-2 stealth bombers equipped with bunker-buster munitions, targeting Iran’s most fortified nuclear infrastructure.
President Trump, in a nationally televised address, declared the destruction of Iran’s nuclear facilities and warned of further action should Iran retaliate. Iranian officials, however, asserted that their nuclear ambitions remain undeterred and promised a robust response, heightening fears of a broader regional confrontation.

Tel Aviv Stock Exchange: Defying Expectations Amid Crisis
Contrary to conventional wisdom, Israeli equities have not only weathered the storm but have flourished. On Sunday, the TASE 125 index surged 1.5%, while the TA-35 index climbed 1.6% at the opening bell, with both benchmarks hitting record highs.
Over the preceding week, the TA-35 gained 5%, and the TA-90 soared by 7.6%, with the shekel stabilizing against the dollar after initial volatility.
This bullish trend persisted even as Iran launched missile attacks on Israeli cities, including direct hits near Tel Aviv and damage to civilian infrastructure. Despite these threats, the TASE closed at 6,161.00 ILA, representing a 1.67% increase in a single session and a cumulative 14% gain since the conflict’s onset.

Why Are Israeli Stocks Rallying?
Several factors underpin this unexpected market resilience:
• Investor Confidence: Market participants appear to believe in the robustness of Israel’s economy and its ability to withstand external shocks.
• Perceived Resolution: Some traders interpret the U.S. intervention as a potential catalyst for a quicker end to hostilities, reducing long-term uncertainty.
• Economic Policy Signals: Israeli officials have begun easing domestic restrictions, signaling a return to normalcy and bolstering investor sentiment.
• Sector Leadership: Financial stocks, particularly banks, have led the rally, reflecting confidence in the stability of Israel’s financial sector.

Gulf Markets: Volatility and Divergence
While Israeli equities rallied, Gulf markets responded with initial caution. On Sunday, the majority of Gulf markets opened lower as investors assessed the fallout from U.S. airstrikes on Iran.
However, some markets managed to recover:
• Kuwait: The Boursa Kuwait Premier Market Index recovered from initial declines, signaling a measure of investor confidence amid prevailing regional uncertainties.
• Oman: The MSX30 Index in Muscat fell by 0.3–0.6%, signaling continued concern over the conflict’s potential economic impact.
• Qatar and Saudi Arabia: Qatar’s main index rose over 1% after an initial dip, while Saudi Arabia’s Tadawul All Share Index posted modest gains, buoyed by strong performances from major banks.

Oil and Energy Markets
Amid the turmoil, oil prices have surged, with Brent crude jumping as much as 7% in recent sessions. The threat of supply disruptions—especially if Iran were to block the Strait of Hormuz, a vital global shipping lane—has added to market jitters. Qatar, which jointly operates the vast South Pars gas field with Iran, has initiated emergency discussions with major energy firms to evaluate possible ramifications.

The Broader Economic and Political Context
The escalating conflict has further deepened uncertainty in a region already grappling with heightened geopolitical instability.
The U.S. move is widely viewed as a “game changer,” not only for the fate of Iran’s nuclear program but also for the regional economic outlook. While Israeli markets display resilience, global investors remain wary, with many bracing for possible volatility in global equities and a flight to safe-haven assets if the conflict widens.
Iran’s vow to retaliate and the lack of clarity over the U.S.’s next steps mean that markets could face further turbulence. The situation is fluid, and much depends on whether the conflict spreads or remains contained.

Conclusion
The remarkable surge in the Tel Aviv Stock Exchange amid active conflict and missile attacks underscores both the resilience of Israel’s economy and the complex calculus of regional investors. While Israeli equities have soared to record highs, Gulf markets have experienced mixed fortunes, reflecting both immediate concerns and longer-term hopes for stability. The U.S. intervention has undoubtedly shifted the dynamics, but with Iran promising retaliation and the potential for further escalation, the region’s markets remain on edge.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Icon Facilitators IPO Launches June 24 with Price Band of ₹85–91

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