Trump Claims to Have Saved Khamenei from Attack

HDB Financial Services, a subsidiary of HDFC Bank, has launched a highly anticipated IPO that saw tremendous interest from investors. The bidding period ran from June 25 to June 27, with the allotment expected on June 30 and stock listing on July 2. The IPO is valued at ₹12,500 crore, comprising a mix of new shares and an offer-for-sale. Despite a positive response, grey market sentiments remain cautious. Investors should focus on the company’s fundamentals rather than just market premiums when considering this investment.

The US consulates in Karachi and Lahore have introduced a new rule requiring F, M, and J visa applicants to make their social media accounts public. This change is a part of stricter vetting procedures aimed at screening applicants more thoroughly. The decision aligns with a similar policy from the US Embassy in Delhi, reflecting a growing trend towards heightened scrutiny of individuals seeking entry into the United States. This move raises questions about privacy and the implications for those applying for visas from India and neighboring countries.

Facebook is now asking users for access to their camera rolls to create AI-enhanced versions of their photos, even those not yet uploaded. When crafting a new Story, users get a prompt to opt into "cloud processing," allowing Facebook to generate creative edits like collages or themes. By accepting the terms, users consent to their media being analyzed by AI to produce innovative suggestions. However, this raises privacy concerns, as users may not fully understand what personal information is being collected and how it's used.

US stocks saw a positive trend on Thursday, with the S&P 500 rising by 0.6%. The market reacted favorably to news of a ceasefire between Israel and Iran. Major companies like Caterpillar and Goldman Sachs led the gains. Additionally, US IPOs are bouncing back, with an impressive average return of 53% for 2025 debuts, sparking renewed investor interest. Meanwhile, European markets also recorded gains, with the Stoxx Europe 600 index rising slightly, driven by NATO's defense spending increase.

The Indian stock market is buzzing with exciting developments! Hitachi Energy has secured a significant order from Power Grid to supply transformers, while Mahindra Lifespace is set to redevelop a prime Mumbai site worth ₹1,250 crore. Lemon Tree Hotels expands in Nashik, and Embassy Developments takes over Squadron Developers for ₹456.61 crore. Premier Energies is making strides in solar technology in Hyderabad, and Power Mech Projects is working on solar plants in Bihar. With UltraTech Cement's new grinding mill and Adani's acquisition, investors have plenty to watch!

SEBI has clarified the rules for mutual funds regarding portfolio rebalancing after passive breaches of asset allocation. These breaches occur without any fault from the asset management companies and can arise from market changes or corporate actions. Schemes must restore their portfolios within 30 business days, with a possible extension to 60 days if justified. If they fail to comply, they cannot launch new schemes and must inform investors if deviations exceed 10% of their assets. This move aims to maintain consistency and transparency in the mutual fund industry.

India is taking significant steps to enhance its energy security by establishing strategic petroleum reserves (SPRs) at six new locations, as reported by Mint. This initiative aims to safeguard against global oil supply disruptions, especially amidst geopolitical tensions in West Asia. The government has assigned Engineers India Ltd (EIL) to prepare feasibility reports for these reserves. Proposed sites include Mangalore in Karnataka and Bikaner in Rajasthan. Currently, India holds crude oil reserves for about 9.5 days of consumption, but the goal is to extend this to 90 days, ensuring a robust backup against potential oil supply shocks.

The rise of generative AI is now evident on smartphones, with major players like OpenAI and Adobe leading the charge. OpenAI has integrated ChatGPT into WhatsApp, allowing users to generate images quickly. Adobe has launched its Firefly app for iPhones and Androids, offering tools for video and image creation. This app uniquely combines Adobe's models with third-party ones, providing a wider range of options for creators. Subscriptions are available, making advanced AI tools accessible to users. This shift enhances content creation, making it more user-friendly and innovative.

The Enforcement Directorate (ED) is investigating a significant money-laundering case linked to the alleged desilting fraud of Mumbai's Mithi River. This scam resulted in a loss of over ₹65 crore for the Brihanmumbai Municipal Corporation (BMC). Recently, the ED recorded statements from key figures, including BMC officials and contractors, to gather evidence. The probe suggests a cartel formed to manipulate BMC tenders and inflate contract rates, leading to undue financial benefits for the involved parties. With substantial cash and multiple accounts frozen, the investigation is ongoing, and further clarifications may be sought.

Geopolitical tensions, especially in the Middle East, are reshaping the Indian job market. A recent report reveals that 63% of companies are freezing hiring or downsizing teams. Many employees are feeling the pressure, with 36% reporting that salary growth and bonuses are affected. As workload increases, 55% are upskilling or exploring new job opportunities. The report highlights a significant shift in work dynamics, urging employers to adapt and employees to remain resilient. This is not just a moment; it’s a transformation in how we work.

Heavy rains in Himachal Pradesh's Kangra and Kullu districts have led to severe flash floods, leaving over 10 people missing and resulting in two confirmed deaths. Rescue operations are in full swing, with teams from various departments working to locate those swept away. The sudden rise in water levels caught many residents and workers near a hydro power project off guard. As efforts continue, officials are working to confirm the exact number of missing individuals and assess the situation, assuring that it may not be as dire as initially feared.

At the NATO Summit in The Hague, U.S. President Donald Trump received light-hearted praise from leaders, including being called "daddy" by Mark Rutte. This term was used humorously to reflect how some allies view the U.S. Rutte explained that nations sometimes seem to ask, "Will the U.S. stay with us?" akin to children seeking reassurance from a parent. Trump, addressing conflicts between Israel and Iran, used strong language to urge both sides to cease hostilities. While Rutte’s comment was playful, it highlighted the dynamic of U.S. leadership and the responsibilities of NATO allies.

Lenskart, the omnichannel eyewear giant, is set to file its IPO draft through the standard route, diverging from the confidential filing trend of its peers like Swiggy and Meesho. This bold move reflects Lenskart's confidence, as it aims for a $1 billion IPO at a valuation of $10 billion. Founded by Peyush and Neha Bansal, the company is a leader in the eyewear market, despite facing recent losses during its expansion. With strong backing from major investors and plans to go public soon, Lenskart is gearing up for significant growth in the Indian eyewear sector.

Shubman Gill's captaincy on Day 5 of the India vs England Test received criticism as England successfully chased down 371 runs, marking their second-highest run chase. Former cricketer Sanjay Manjrekar pointed out that Gill's overly defensive tactics, including too many boundary riders, allowed England to build momentum. Despite the challenges, England showcased a mature blend of aggression and discipline, with Duckett and Crawley setting a solid foundation. Ultimately, Joe Root and Jamie Smith led England to victory, highlighting their refined approach under coach Brendon McCullum.

US President Donald Trump strongly dismissed media reports claiming that recent airstrikes on Iran's nuclear facilities were ineffective, labeling them as “fake news.” Despite a classified assessment suggesting that the strikes did not significantly damage Iran’s nuclear program, Trump insisted the operations were a monumental success. White House officials echoed this sentiment, contending that the assessment was inaccurate and leaked to undermine Trump. Israeli Prime Minister Netanyahu hailed the airstrikes as a critical step in removing nuclear threats from Iran. Meanwhile, Iranian officials celebrated what they termed a "great victory" in the ongoing conflict.

Indian public sector enterprises (PSUs) are experiencing a remarkable revival post-COVID-19, showcasing impressive profit growth. The PSUs achieved a staggering 36% profit after tax CAGR from FY20-25, significantly enhancing shareholder value. Despite a slight moderation in FY25 earnings, the outlook remains positive, especially for sectors such as BFSI and O&G, with a projected 10% PAT CAGR for FY25-27. Key players like State Bank of India and Hindustan Aeronautics are expected to thrive in this landscape. Investing in PSUs with strong growth potential is advised for long-term gains.

Nithin Kamath, co-founder of Zerodha, humorously shared that his credit score is 747, just shy of the 750 threshold for CRED. His playful post on social media attracted attention, with CRED's founder Kunal Shah offering to help him improve it. Many users chimed in, boasting higher scores and questioning the credit rating system's fairness. While some supported Kamath for raising awareness, others criticized the complexity of fixing credit score errors. This lighthearted exchange highlights the importance of credit awareness in India.

The Strait of Hormuz, vital for global oil trade, may face closure amid rising tensions between Israel and Iran. This strait is crucial for India, supplying 40% of its oil imports from the Middle East. While experts warn of significant market impacts, India may not feel the brunt as it sources oil from Russia and LNG from Qatar, which don't rely on this route. However, imports from Iraq and Saudi Arabia could be affected. Iran's potential closure of the strait aims to assert control, but it risks harming its own economy too, as major oil buyers like China depend on it.