Category Archives: Business

Slower Growth in Services as India PMI Eases to 57.4

New Delhi, July 3: India’s services sector recorded a slower pace of expansion in June, with the HSBC India Services PMI declining to 57.4 from 59.8 in May, indicating easing momentum in domestic demand.

The latest reading marks the weakest growth in services activity in 17 months, although it remains above the 50-point mark that separates expansion from contraction.

The moderation was mainly driven by the slowest increase in new orders in over two-and-a-half years. While some firms benefited from stronger e-commerce activity, tourism demand, and competitive pricing, others reported weaker client interest and challenging market conditions.

Employment levels remained largely unchanged during the month, suggesting cautious hiring trends among service providers. However, export demand showed relative strength, with new overseas orders rising at the fastest pace in three months.

Economists say the data points to a cooling in domestic demand, even as overall sector activity continues to expand at a healthy level.

India Real Estate Draws Robust Institutional Demand Worth Dollar 4.5 Billion

New Delhi, July 3 (UDN): India’s real estate sector attracted institutional investments worth $4.5 billion during January–June 2026, marking a sharp 50 per cent increase compared to the same period last year.

The significant rise in inflows reflects growing investor confidence in India’s property market, driven by strong demand across commercial, residential, and logistics segments. Institutional investors continue to show interest in both major urban centres and emerging real estate corridors.

Industry observers attribute the upward trend to steady economic growth, improved infrastructure development, and favourable policy support, which have collectively strengthened market sentiment.

Commercial real estate and warehousing assets remained key drivers of investment activity, while residential projects also witnessed steady participation from institutional players.

Experts believe that sustained economic momentum and urban expansion are likely to keep investor interest strong in the coming months, further supporting sectoral growth.

Stock Market Opens Higher; IT and Metal Stocks Lead

Mumbai, July 3: Indian equity markets opened on a positive note on Thursday, with benchmark indices Sensex and Nifty rising nearly 1 per cent in early trade, supported by strong buying in IT and metal stocks.

Market sentiment remained upbeat as investors reacted to firm global cues and continued interest in export-oriented sectors. Heavyweight IT stocks led the rally, while metal shares also witnessed strong gains on improved demand outlook and commodity price trends.

Broader markets mirrored the optimism, with several mid-cap and small-cap stocks participating in the upward movement. Analysts noted that the early momentum reflects renewed investor confidence after recent market fluctuations.

However, market experts advised caution, stating that volatility may persist as investors track global economic indicators and upcoming policy updates.

Further trends during the trading session will depend on foreign fund flows, corporate earnings cues, and global market direction.

Ratnadeep Retail Limited files DRHP with SEBI for IPO

India , July 3: Hyderabad headquartered Ratnadeep Retail Limited, an organised food and grocery and value-fashion retailer, with presence across Andhra Pradesh, Telangana and Karnataka, has filed its draft red herring prospectus with capital markets regulator SEBI to raise funds through an initial public offering .

According to the DRHP, the proposed IPO is a combination of a fresh issue of equity shares aggregating up to ₹ 400 crore and an offer for sale of up to 1,48,60,000 equity shares by the Promoter Selling Shareholders. Sandeep Agarwal, Manish Bhartiya, Mitesh Bhartiya, Yash Agarwal and Kavita Agarwal are the Promoters of the company.

Ratnadeep Retail proposes to utilize ₹ 40 crore from the the Net Proceeds of the Fresh Issue towards repayment/ prepayment of loan facilities availed by the company, ₹ 260 crore for setting up of new stores under the Ratnadeep and National Mart formats, and the remaining amount for general corporate purposes.

Ratnadeep Retail offers a wide and diversified product assortment of more than 30,000 SKUs across categories like fresh produce, FMCG, staples, general merchandise and apparel, enabling it to cater to the full spectrum of customer demand spanning essential, recurring and discretionary consumption.

As of March 31, 2026, Ratnadeep Retail operated 190 stores under two formats – Ratnadeep, comprising ‘Ratnadeep – Mindful Living’ and ‘Ratnadeep Select’  , and National Mart, its value-led hypermarket format, within which it also has Style Mart offering affordable fashion products.

The company, in consultation with the BRLMs, may consider a Pre-IPO Placement of Equity Shares aggregating up to ₹ 80 crores, prior to filing of the Red Herring Prospectus with the RoC. If the Pre-IPO Placement is completed, the amount raised will be reduced from the Fresh Issue.

Ratnadeep Retail’s FY26 revenue from operations stood at ₹ 2,223 crore, recording a 15% CAGR from FY24. The profit after tax for the same period stood at ₹ 36.7 crore.

Avenue Supermarts, Vishal Mega Mart, Spencers Retail and Trent are the listed peers of the company as per the DRHP.

Motilal Oswal Investment Advisors, Axis Capital and DAM Capital Advisors are the book running lead managers  to the offer.

Kazakhstan President Awards AD Ports Group’s Managing Director & Group CEO Captain Mohamed Juma Al Shamisi with the Order of Friendship

Astana, Kazakhstan and Abu Dhabi, UAE – 02 July 2026: AD Ports Group (ADX: ADPORTS), a global enabler of integrated trade, industry and logistics solutions, announced that His Excellency Kassym-Jomart Tokayev, President of the Republic of Kazakhstan, has awarded its Managing Director & Group CEO, Captain Mohamed Juma Al Shamisi, with the prestigious Order of Friendship, for his role in advancing UAE-Kazakhstan cooperation in supply chain development.

The award, presented during a ceremony today at the Presidential Palace in Astana, reflects international appreciation for Captain Al Shamisi’s support in advancing economic and trade cooperation between the United Arab Emirates and Kazakhstan, where AD Ports Group over four years has made investment commitments of more than AED 2.9 billion in shipping, ports, and logistics businesses. 

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, said: “I am honoured to receive the Order of Friendship from His Excellency Kassym-Jomart Tokayev, President of the Republic of Kazakhstan. This recognition reflects the strength of relations between the UAE and Kazakhstan and the success of our shared efforts in advancing trade and investment cooperation. We remain committed, under the wise guidance of our leadership in the UAE, to working with our partners in Kazakhstan to support impactful projects that enhance connectivity and contribute to Kazakhstan’s sustainable development.”

AD Ports Group has a strategic presence in Kazakhstan, where its tankers transport Kazakh oil across the Caspian Sea to western pipelines in Azerbaijan, and where the Group is co-developing the Sarzha Grain Terminal at Kuryk Port with local partners, and operating a Central Asian logistics joint venture with KTZ Express, the freight unit of Kazakhstan Railways. The efforts support the commercialisation of the ‘’Middle Corridor’’ overland trade route connecting Asia, Central Asia, and Europe to global markets.

In Kazakhstan, the Order of Friendship is awarded to distinguished individuals, diplomats, business leaders, and public figures who have made significant contributions to strengthening friendship and cooperation between the Republic of Kazakhstan and other countries, whilst promoting mutual understanding and collaboration at regional and international levels.

AU Small Finance Bank partners with Maruti Suzuki to launch ‘Suhana Safar’

New Delhi,  July 2: AU Small Finance Bank , India’s largest Small Finance Bank and among the first in over a decade to receive in-principle approval for transition into a Universal Bank, has entered into a strategic partnership with Maruti Suzuki India Limited to launch an industry-first initiative, “Suhana Safar” – a Recurring Deposit -backed auto loan scheme designed to make car ownership more accessible for aspiring first-time buyers of the most popular models; Alto K10, S-Presso, Celerio, and WagonR.

Suhana Safar addresses one of the most common barriers to first-time car ownership – the challenge of mobilising a down payment and committing to an EMI, without prior financial readiness.

Under the scheme, a customer opens a Recurring Deposit account with AU SFB and deposits a fixed monthly amount – equivalent to the prospective car EMI, for a period of three to six months. The RD earns interest during this tenure, and on maturity, the accumulated amount is utilised as the down payment, following which the Bank sanctions and disburses the auto loan.

As a structured RD-backed solution, the scheme enables customers to build savings, earn interest, and assess their repayment comfort before availing the loan, thereby creating a seamless, end-to-end journey from disciplined saving to confident ownership within a single banking relationship.

The scheme creates a win–win proposition for both the customer and the Bank, as it enables the Bank to assess the customer’s creditworthiness at two stages – initially at enrolment and subsequently at the time of loan disbursement.

Currently, AU SFB offers RD interest rates ranging from 4.75% to 7.40% per annum for the general public, and 5.25% to 7.90% per annum for senior citizens

India Exports Punjab Litchi to Oman for the First Time

New Delhi, July 2: In a significant boost to India’s agricultural exports, fresh litchis from Punjab have been exported to Oman for the first time, Union Commerce and Industry Minister Piyush Goyal said on Thursday.

The milestone marks an important step in expanding the global reach of Indian horticultural products and strengthening India’s presence in international fruit markets. Officials said the export reflects improved supply chain efficiency, quality standards, and growing global demand for Indian produce.

The initiative is expected to benefit farmers in Punjab by opening new export opportunities and enhancing income prospects through access to overseas markets.

The government has been focusing on promoting agricultural exports through better logistics, compliance with international standards, and strengthening trade partnerships with importing countries.

India’s Auto Industry Expected to Maintain Strong Momentum in FY27: Report

New Delhi, July 2: India’s automobile sector is projected to continue its strong growth trajectory in the financial year 2026–27 (FY27), supported by steady demand across key segments, according to a recent industry report.

The report states that passenger vehicles, two-wheelers, and commercial vehicles are expected to drive overall growth, backed by improving consumer sentiment, stable economic conditions, and ongoing infrastructure development across the country.

It further highlights that rising interest in electric vehicles, along with rural demand recovery, will play a key role in sustaining industry momentum in the coming year.

Automobile manufacturers are also focusing on new model launches, technology upgrades, and capacity expansion to meet evolving market requirements and regulatory standards.

Industry observers note that easing input cost pressures and improved supply chain efficiency are likely to further support the sector’s growth outlook in FY27.

Centre Fiscal Deficit Widens to INR 1.62 Trillion in Apr–May FY27

New Delhi, July 2: India’s central government fiscal deficit widened to ₹1.62 trillion during April–May of FY27, driven by higher expenditure on subsidies and increasing interest payments, according to a recent report.

The rise in deficit reflects increased government spending in key welfare and financial obligation areas during the initial months of the fiscal year. Analysts note that elevated subsidy allocations and debt servicing costs have contributed significantly to the widening gap.

Despite the increase in fiscal deficit, overall expenditure trends remain aligned with budgetary commitments for the fiscal year. Officials are expected to monitor spending patterns closely in the coming months to maintain fiscal discipline.

The report highlights the importance of balancing developmental expenditure with fiscal consolidation goals as the government progresses through FY27.

GM Modular Showcases Premium G plus Range at AYC Fest 2026, Strengthening Connect with Gen Z

India, July 02: GM Modular, one of India’s leading electrical and smart home solutions brands, marked a significant presence at AYC Fest 2026, held at the Jio World Convention Centre, BKC, Mumbai, with an engaging brand experience showcasing its premium G+ range of music and mobile accessories and smart electrical solutions.

The three-day youth-centric festival, celebrated for its vibrant mix of music, dance, entertainment and lifestyle experiences, attracted thousands of young attendees from across the city. Aligning perfectly with the event’s energetic spirit, GM Modular’s experiential stall at Stall No. 49, Pavilion 1 emerged as one of the key attractions, drawing an impressive footfall of over 5000 + visitors throughout the event.

Designed as an interactive experience zone, the GM stall allowed visitors to explore and experience the brand’s latest innovations firsthand. Products such as the G+ Wireless Charger, G+ International Travel Adaptor, premium charging solutions, audio accessories and smart mobile gadgets generated significant interest among students, creators, young professionals and tech enthusiasts.

The curated showcase resonated strongly with the audience, who appreciated the seamless blend of cutting-edge technology, premium design, portability and everyday convenience. Live product demonstrations and hands-on experiences enabled visitors to understand how GM’s G+ ecosystem effortlessly complements today’s fast-paced, digitally connected lifestyle.

Speaking on the occasion, Mr. Jayanth Jain, CEO and Managing Director, GM Modular, said, “Consumer expectations around electrical products are rapidly evolving. Today’s young, discerning consumer seeks solutions that are not just reliable, but thoughtfully designed and seamlessly integrated into their everyday lives. AYC Fest gave us a unique opportunity to bring our G+ range closer to a new generation of consumers –one that values innovation, style and smart living in equal measure.”

GM Modular’s participation at AYC Fest 2026 reflects the brand’s ongoing strategy to strengthen its connection with Gen Z and young millennials through experiential marketing and youth-focused engagements, going beyond traditional retail touchpoints to create authentic, memorable interactions with its products.

As India’s premium electrical and lifestyle accessories segment continues to grow ,driven by rising aspirations, digital-first living and a deepening focus on design – GM Modular remains at the forefront with its expanding G+ portfolio, offering solutions that are as intelligent as they are elegant.