Ninjacart, India's only full-stack fresh produce company operating across every node of a $100 billion industry, today said it has turned EBITDA-profitable and has begun preparations for a public listing over the next two years. The company just closed the first $6 million funding of a multi-tranche investment round. Existing investors Accel, Nandan Nilekani, and Tiger Global led the funding, and more existing investors are expected to join the round soon.

Fresh produce has always been the hardest part of retail to organise - perishable, unpredictable, and resistant to standard supply-chain economics. Over the last few years, Ninjacart has applied the discipline of an FMCG business to it: consistent quality, predictable supply, and unit costs that improve as volume grows.

Serial entrepreneur Bhavin Turakhia today announced the launch of Neo, an AI-native work platform designed to bring work, knowledge and AI execution into a single connected suite. He has committed $30 million of his own capital to build the company, marking his biggest entrepreneurial bet since founding fintech unicorn Zeta.

Having spent over two decades building global technology businesses, Bhavin has previously co-founded Directi, Radix, Titan and Zeta. Directi's web businesses were acquired for $160 million in 2014, Titan reached a valuation of $300 million following an investment from Automattic, while SoftBank-backed Zeta is currently valued at approximately $2 billion.

Motilal Oswal Mutual Fund (MOMF) has announced the launch of its latest new fund offer, "Motilal Oswal BSE Midcap 150 Momentum 30 Index Fund". The scheme is an open-ended index fund replicating/tracking the BSE Midcap 150 Momentum 30 Index, offering investors exposure to a focused portfolio of momentum-driven midcap stocks through a transparent, rules-based investment approach.

The Fund seeks to capture opportunities within India's midcap segment, which has historically offered a reasonable balance between growth potential and business maturity. While midcap companies have delivered consistent long-term performance, identifying potential market leaders early can often be challenging for investors.The BSE Midcap 150 Momentum 30 Index addresses this challenge through a systematic methodology that selects stocks from the BSE Midcap 150 Index based on their 12-month price performance adjusted for volatility. The index follows a concentrated 30-stock portfolio approach, providing exposure to midcap companies exhibiting strong price momentum. Through quarterly rebalancing, the index aims to remain aligned with evolving market trends by increasing exposure to emerging leaders while reducing allocation to stocks with weakening momentum.

Lightstorm, Asia Pacific's leading AI connectivity platform, today announced the official signing of the contracts to launch the build of a brand new submarine cable system, connecting India, Malaysia and Singapore, with consortium partners Microsoft, Singtel and Tata Communications. The cable system, to be named as I-2SEA, is designed from the ground up to serve the rapidly growing demand from hyperscalers, GPU infrastructure providers, and enterprises running AI training and inference workloads across the India-Southeast Asia corridor.

I-2SEA links India's East Coast home to the fastest-growing AI and hyperscaler data center clusters in Hyderabad and Chennai - directly to Singapore, the region's preeminent cloud interconnect and AI hub, and Malaysia's emerging data center corridor at Kuala Lumpur. The cable system will have dual landings in India, with one at Machilipatnam providing the shortest subsea access to Hyderabad, and the other at a new diverse landing location in South Chennai. The Lightstorm customers in this cable system will have the option of connecting into Lightstorm's 30,000+ km terrestrial network for seamless onward reach to Hyderabad, Mumbai, and 80+ data centers nationwide.

Invesco Mutual Fund today announced its entry into Specialised Investment Fund (SIF) category under the brand name Summit SIF. Marking entry into SIF, it further announced launch of its first SIF investment strategy, the Summit Equity Long-Short Fund (An open ended equity investment strategy investing in listed equity and equity related instruments including limited short exposure in equity through derivative instruments). 

Summit Equity Long-Short Fund is designed to capture both directional upside through long positions and tactical downside opportunities through short positions. The strategy reflects the core philosophy of Summit SIF: adapting to market conditions while seeking alpha.

This investment strategy will combine two distinct strategies to deliver an edge to the portfolio: A directional long strategy driven by a bottom-up stock selection process anchored in Invesco Asset Management (India)'s categorization framework; A Tactical short position via derivatives aimed at capturing downside opportunities in stocks expected to underperform. The investment strategy will be managed by Mr. Hiten Jain and will be benchmarked to BSE 500 TRI.

Swara Baby, India's largest contract manufacturer by value in FY25 of disposable hygiene products including baby diapers, adult diapers and sanitary napkins, has filed its Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI).

The IPO comprises of a fresh issue of equity shares of face value Rs 2 each aggregating up to Rs 500 Crores and an offer for sale of equity shares of face value Rs 2 each aggregating up to Rs 500 Crores. The offer for sale by promoter selling shareholder comprises of equity shares of face value of Rs 2 each aggregating up to Rs 300 Crores by Brainbees Solutions Limited and equity shares of face value of Rs 2 each aggregating up to Rs 200 Crores by Anadya Bon Merchari LLP.

The Company proposes to utilise the net proceeds from the offer towards financing capital expenditure for setting up a new manufacturing facility in Madhya Pradesh, India amounting to Rs 198.2 Crores; repayment or prepayment, in full or in part, of certain borrowings availed by the Company amounting to Rs 100 Crores; investment in its subsidiaries, Solis Hygiene, Swara Hygiene, KAEHPL for repayment or prepayment of certain outstanding borrowings availed by them amounting to Rs 27.5 Crores; and for pursuing inorganic growth through unidentified acquisitions, along with general corporate purposes. In consultation with the BRLMs, the company may consider a pre-IPO placement of Rs 100 Crores.

Shriram Finance Limited (SFL), the flagship company of the Shriram Group, has announced a revision in interest rates on Fixed Deposits (FDs) across various maturity tenures. The revised rates will be effective from July 2, 2026.

The Fixed Deposits are rated "CRISIL AAA/Stable" by CRISIL Ratings, "[ICRA]AAA (Stable)" by ICRA, "IND AAA/Stable" by India Ratings and Research, and "CARE AAA/Stable" by CARE Ratings.

Tulon Materials Private Limited, an R&D-led engineering high-performance, sustainable specialty chemicals, has raised ₹10 crore in a seed funding round led by investor Karthik Sundar Iyer, with participation from Karan Goshar and Prakhar Pandey (Partners at Valour Capital, a venture fund investing in defence, aerospace, deep tech, and advanced manufacturing, participating in their personal capacities), with additional backing from angel investor Agam Shah.

The company is led by founders Asesh Sarkar, Dr. Rabindranath Mandal and Harsh Bhatt, who collectively bring eight decades of experience in the chemical industry. This deep expertise underpins Tulon's focus on creating proprietary specialty chemicals and advanced materials that meet rigorous industrial standards while advancing sustainability objectives. The seed funding will accelerate engineering and commercialization timelines for applications in paints & coatings, printing inks, and adhesives. 

Nisus Finance Services Co Limited (BSE: NISUS | 544296 | INE0DQN01013) has announced an investment through its INR 1,700 crore Real Estate Special Opportunities Fund I, a Sebi-registered Category II AIF managed by Nisus BCD Advisors LLP, in three residential projects in Bengaluru. The projects are being developed by Sumukha Housing Pvt Ltd., promoted by Mr. Arjun Vasu and Mr. Varun Vasu.

Sumukha Housing is a Bengaluru-based residential developer with a track record of over 7 lakh sq. ft. of delivered projects across residential and commercial developments. The group has built a steady presence in the city's residential market, with a focus on low-rise residential communities that are designed around end-user needs across key micro-markets in Bengaluru.

Avinash Shekhar, Co-Founder & CEO, Pi42

"Bitcoin's recovery above the $60,000 mark reflects improving global sentiment following softer inflation expectations, a weaker US dollar and easing crude oil prices. At the same time, recent institutional outflows and profit booking indicate that the market is still searching for a stronger directional trigger. While short term volatility may continue, Bitcoin's long term fundamentals remain intact as adoption, on-chain activity and the broader digital asset ecosystem continue to mature. Investors should avoid reacting to every price swing and instead focus on the underlying structural drivers shaping the asset class.

For investors, this is a phase to remain disciplined rather than emotional. Staggered investments through a systematic approach can help navigate near term price fluctuations while maintaining exposure to the long term growth potential of digital assets. It is equally important to prioritise quality assets, maintain adequate portfolio diversification and avoid excessive leverage. Periods of consolidation have historically rewarded patient investors who stay focused on their investment horizon instead of short term market noise."

Brijesh Agarwal, CEO, Busy Infotech

Nine years into GST, India's tax journey has moved from compliance adoption to compliance maturity. For MSMEs, the biggest change has not only been the introduction of a unified tax system, but the shift towards a more digital and transparent way of doing business. 

The recent GST 2.0 reforms and rate rationalisation are a positive step, especially for smaller businesses that need simpler classification, clearer pricing, and lower compliance friction. The road ahead will be about making compliance more predictive, not just digital. MSMEs should be able to detect errors before filing, reconcile data in real time, and understand tax impact without depending entirely on manual checks.

AI will play an important role here. From invoice validation and GST reconciliation to anomaly detection and smarter reporting, AI-led accounting can help MSMEs reduce errors, save time, and file with more confidence. At BUSY, our focus is to bring this intelligence into everyday accounting workflows so that compliance becomes simpler, faster, and more reliable for Indian businesses.

InsuranceDekho, one of India's leading insurtech platforms, today announced the launch of InsuranceDekho for Corporate, its dedicated corporate arm, marking the company's formal push into India's corporate and enterprise insurance market. The company has elevated Ranjeet Singh, who previously served as Business Head for Retail at InsuranceDekho and played a pivotal role in scaling the company's business distribution, to the role of CEO of InsuranceDekho for Corporate. Ranjeet brings over 25 years of experience in the insurance industry to the role.

The gap in India's corporate insurance market runs deep, be it product depth, advisory quality, or post-sales service across every line of business, not just employee benefits. Businesses today navigate a far broader and more complex risk landscape, yet most continue to be served by a broking model that has not kept pace with evolving exposures, nor with the data and analytical rigour that modern risk management demands. InsuranceDekho for Corporate has been built to change that.

Mangalam Global Enterprise Limited, a diversified business conglomerate with a legacy spanning more than eight decades, has officially entered India's rapidly growing wellness market with the launch of its new-age wellness and personal care brand, NEAT Everyday. Strengthening its retail footprint, the company has inaugurated three new stores across Goregaon, Borivali and Ghatkopar in Mumbai, following the successful launch of five stores and one kiosk in Ahmedabad and one store in Indore. 

The launch of the three Mumbai stores formed a key part of NEAT Everyday's retail-led growth strategy. Together, the three stores, spread across approximately 985 sq. ft., strengthened the brand's omnichannel presence by complementing its digital platform with a physical retail network that enabled greater consumer access and engagement. Following the successful rollout of nine stores and one kiosk across Ahmedabad, Mumbai, and Indore, Mangalam Global Enterprise Limited accelerated the retail expansion of NEAT Everyday, underscoring its long-term commitment to building a trusted omnichannel wellness brand in India.

BTC reclaimed the key $60K level after dipping to $58K. On the macro side, the US dollar pulled back from its highs, a tailwind for BTC. The long-dollar trade is crowded at +$34.3B ,an 18-month high, hinting a dollar reversal may be near, which typically helps BTC. On the other hand, long-term holders added 270K BTC in two weeks, big players buying the dip. Funding rates stayed positive three days running, so traders still lean long. Investors can wait for a confirmed close above $61K before trusting the bounce.

Deveya Gaglani, Senior Research Analyst - Commodities, Axis Direct

Gold prices climbed nearly 1% on Wednesday after weaker-than-expected U.S. private payrolls data and comments from Federal Reserve Chair Kevin Warsh suggesting inflation risks have eased. The ADP report showed private employment rose by 98,000 in June, below expectations of 118,000, ahead of Thursday's non-farm payrolls report. Comex Silver rallied more than 1% after comments from Fed Chair Kevin Warsh boosted sentiment across the precious metals complex. Market participants are now closely watching this week's US Non-Farm Payrolls (NFP) report, which could shape expectations for the Federal Reserve's monetary policy path.

WTI Crude Oil fell nearly 2% as optimism over US-Iran talks eased supply concerns after President Donald Trump said discussions in Qatar had made good progress. US crude inventories declined by 3.8 Mn barrels last week to 408.3 Mn barrels, a smaller-than-expected draw of 5.1 Mn barrels

Rajesh Palviya, Head of Research, Axis Direct

The Nifty 50 staged a strong rebound on Wednesday, snapping its two-session losing streak by advancing 140.85 points (0.59%) to close at 24,005.85, reclaiming the psychologically significant 24,000 mark. The recovery was driven by broad-based buying in FMCG, auto and realty stocks, with the automobile pack outperforming after robust June sales data reinforced optimism over domestic demand.

Global cues, however, remained mixed. While the Dow Jones hovered near record highs, the S&P 500 slipped 0.22% and the Nasdaq declined 0.66% as investors booked profits in semiconductor stocks following a stellar first-half rally. Asian markets mirrored the cautious sentiment, opening lower amid weakness in technology shares.

Crude oil continues to be the key macro variable for Indian equities. Brent crude, trading near $71 per barrel after recording its steepest quarterly decline since 2020 on easing geopolitical tensions and expectations of ample global supply, remains a significant positive for India. Softer crude prices help ease inflationary pressures, support the rupee and improve the country's macroeconomic outlook.

Despite the mixed global backdrop, GIFT Nifty indicates a firm start for domestic equities, pointing to an opening gain of around 150 points. Investors, however, are likely to remain selective as they assess global risk sentiment and upcoming macroeconomic data.

From a technical perspective, the 24,000 level has once again emerged as the immediate pivot for the Nifty. Sustaining above this mark would strengthen the ongoing recovery and pave the way towards 24,200. On the downside, a decisive breach below 23,800 could trigger renewed selling pressure, with the next meaningful support placed around 23,600.

B2B logistics operator CJ Darcl Logistics has signed an initial pact with the National Highways for Electric Vehicles (NHEV) to jointly develop 3G charging infra and own a fleet of heavy electric trucks (HEVs) besides operating freight services across the latter's ZET e-highways.

The collaboration has identified the Bengaluru-Chennai corridor as the priority route, serving as a pilot for scalable heavy electric freight operations across the country, it said. Aimed at supporting India's transition towards low-carbon and future-ready logistics, the collaboration evaluates the commercial viability of deploying HEV freight operations on NHEV's upcoming E-highways, it said.

A Union Commerce Ministry initiative, the pilot programme is designed to upgrade major highways into EV-friendly corridors while zero-emission trucks (ZET) are battery-electric or hydrogen-powered trucks for moving heavy freight.

ARC, a new gaming hardware company, today announced its launch with a vision to make premium gaming more accessible for Indian consumers. Founded by lifelong gamers Jobin Joseph and Kaustubh K Jadhav, the company will be building a handheld gaming device that lowers the barriers to premium gaming while contributing to the growth of India's evolving gaming ecosystem.

India is home to one of the world's largest gaming communities, with millions of players discovering gaming through smartphones over the last decade. While mobile gaming has fuelled the industry's rapid growth, access to premium gaming experiences has remained limited, with high entry barriers and few products designed specifically for the needs of Indian consumers. ARC believes the next phase of India's gaming journey lies in bridging the gap between the country's mobile-first gaming audience and console-grade experiences by building gaming hardware designed from the ground up for how Indian gamers play, aspire and engage with gaming.

The company's long-term vision is to enable more gamers to move beyond mobile gaming and experience console-quality gaming through thoughtfully designed handheld gaming devices that combine accessibility, performance and portability.

Nymphea Batra, CEO of Guy Carpenter, India said, "The 1st July renewals saw the renewal of retrocession treaties in India, including renewals of India's National Reinsurer GIC Re. June 1 and July 1 Renewals continued being a buyers' market for cedents with ample capacity provided by various reinsurance players located inside India and the cross-border reinsurers (CBRs) operating from overseas markets. 

The market outcomes at recent renewals have become increasingly influenced by individual portfolio performance rather than broad cyclical momentum. While competitive pressures are incrementally returning, pricing remains broadly rational, where risk-adjusted returns are appropriately compensated. The prevailing focus across the renewal is, therefore, on margin protection rather than volume-led expansion."

Vishal Devanath, Co-Founder and CEO, SMERGERS said "The purpose of GST is sound, but its practical impact on MSMEs needs improvement. On one hand, it pushed many small businesses into formalization by giving them a GSTIN and a digital compliance record. This has helped banks and NBFCs assess creditworthiness through GST filings, making formal loans more accessible.

On the other hand, MSMEs have faced higher compliance pressure and cash-flow strain under GST. Despite the availability of input tax credit across goods and services, many small businesses still find their overall indirect tax burden higher than in the pre-GST era. A key concern is that GST liability arises at the time of invoice or supply, even if payment from the customer is delayed, forcing MSMEs to fund taxes from their own working capital. Exporters face a similar challenge: although exports are zero-rated, GST paid on inputs can remain blocked due to refund delays or filing mismatches. The Reverse Charge Mechanism also adds a hidden compliance risk, especially for foreign SaaS, cloud, or consultancy payments, where failure to pay IGST under RCM may later be viewed as tax evasion.

Overall, GST has improved transparency and credit access, but the government must address cash-flow stress, refund delays, and complex RCM compliance to make it truly MSME-friendly."

Piyush Walke, Derivatives Research Analyst, Delta Exchange

Bitcoin fell below $60,000 on Wednesday, capping its weakest monthly performance since June 2022. Spot Bitcoin ETFs also experienced approximately $4.5 billion in net outflows during June, marking their poorest monthly performance since they began trading in January 2024.

Despite the recent weakness, Bitcoin (BTC) has formed a potential trend reversal setup that could signal a short-term shift in momentum. Elliott Wave analysis suggests the cryptocurrency may be approaching a significant low, while bullish RSI divergence on higher time frames points to improving underlying momentum and raises the possibility of a near-term reversal.

A breakout above the $61,800-$62,000 resistance zone could pave the way for a move toward $64,000-$66,000. However, a breakdown below $58,000 may expose Bitcoin to further downside, with the next support area around $55,000-$56,000.

Ethereum trading abve $1,600 shows signa of recovery.A breakout above the $1,630-$1,670 resistance zone could extend Ethereum's recovery toward the $1,720-$1,800 range.

Nischal Shetty, founder, WazirX

"Bitcoin has staged a modest recovery and is currently trading around $60,370, holding above the critical $60,000 support zone. According to analysts, futures traders could be watching the $59,000-$60,000 range on the downside and $62,000-$63,000 on the upside. For Ethereum, $1,700 remains the next important resistance to watch.

Globally, easing inflation expectations have improved sentiment and supported a modest recovery in Bitcoin. But institutional demand remains subdued, with continued ETF outflows reflecting a risk-off approach. At the same time, capital continues to flow into AI-led equities, while geopolitical uncertainty and energy prices keep investors on edge. Bitcoin's near term prices will continue to be influenced by macroeconomic developments such as dollar strength, ETF flows, and Fed's monetary policy decisions."

The Thesis

Defensive-export pharma and domestic capex dominate positioning as the rupee at 95 amplifies USD earnings power and VIX compresses to 13 - calm within geopolitical fog. FII net selling of ₹1,140 Cr is fully absorbed by domestic institutions at Rs 3,159 Cr, keeping equity momentum local and structurally intact. The setup favours quality earners with rupee leverage and long-duration order books over macro-sensitive cyclicals.

Where We're Concentrated

The basket tilts toward rupee-depreciation beneficiaries - pharma exporters earning in USD against 95-handle costs - and domestic capex anchors executing through global uncertainty. Wealth management signals India's financial deepening: domestic AUM growth is indifferent to FII direction. The thesis breaks on a sharp RBI rupee reversal or if DII institutional flows thin heading into H2.

Conviction Picks

Highest Conviction

Mankind Pharma

Rupee near 95 amplifies USD export earnings; domestic formulations pipeline sustains margin expansion.

Glenmark Pharmaceuticals

Specialty pharma earns in USD against a weak rupee; global generic demand across regulated markets diversifies risk.

ITC

Defensive FMCG moat plus tobacco resilience; easing Brent costs support margins as domestic consumption holds.

Larsen & Toubro

Infrastructure backbone benefits from softening Brent; domestic capex order book runs independent of global risk.

360 ONE WAM

Wealth management gains as domestic AUM expands to absorb FII exits; financialization story is local.

One Thing to Watch

USD/INR above 95.50 signals RBI intervention risk - the one event that simultaneously compresses pharma export margins and triggers a de-rating across the basket.

Vikram Subburaj, CEO, Giottus.com

Bitcoin reclaimed the $60,000 mark in early Asian trading on Thursday after falling close to $58,300 during the previous session.CoinMarketCap placed Bitcoin near $60,150, up about 2.4 per cent over the past 24 hours. Reuters reported a slightly earlier price of $59,935.The recovery has improved near-term sentiment, but does not yet confirm a broader trend reversal.

Immediate support is seen at $59,000, followed by the $58,200-58,300 zone, close to Bitcoin's latest 24-hour low. A sustained break below this area could revive selling pressure. Resistance is visible at $60,500 and then $61,000-61,200. Bitcoin needs to close decisively above the upper band to establish stronger recovery momentum.

On-chain indicators remain mixed. Glassnode reported subdued transfer volumes and fee generation. This suggests weak speculative participation, even as Bitcoin supply continued to migrate towards longer-term holders. Separately, on-chain data showed that around 10.83 million BTC were being held at an unrealised loss. Long-term holders controlled roughly 14.8 million BTC. This reflects considerable investor stress, but also continued conviction among established holders.

Institutional demand remains soft. US spot Bitcoin ETFs recorded net outflows of $76.6 million on July 1, following $222.6 million of outflows on June 30. July 2 flows were not yet available because the US trading session had not begun.

The US employment report is the key macro catalyst. Economists polled by Reuters expect 110,000 new jobs and unemployment at 4.3 per cent. Interest-rate futures favour no change at the Federal Reserve's July 28-29 meeting, although markets assign roughly one-in-three odds to a 25-basis-point hike. A stronger jobs report could increase those odds and pressure risk assets.

Ethereum traded near $1,616, BNB at $549, XRP at $1.05, Solana at $78 and TRON at $0.316. Solana led the major altcoins, rising nearly 6 per cent over 24 hours.

Our advice: Bitcoin must hold above the $58,200-59,000 support region and reclaim the $60,500-61,200 resistance zone to strengthen the near-term outlook. A sustained recovery in spot Bitcoin ETF inflows would also be needed to confirm renewed institutional demand. Until these conditions improve, Bitcoin may remain volatile. It could also remain highly sensitive to U.S. labour market data. Inflation readings and changing Federal Reserve rate expectations will also remain key market drivers.Investors should avoid chasing short-term rallies, maintain disciplined risk limits and consider staggered accumulation during periods of weakness.

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Akshat Siddhant, Lead quant analyst, Mudrex

Bitcoin is stabilising near the $60,000 psychological level after rebounding from a 21-month low of $57,950. A weaker U.S. dollar and crude oil prices falling to a four-month low have improved risk sentiment, helping BTC recover. Although spot Bitcoin ETFs ended June with $4.5 billion in net outflows, long-term holders have absorbed some of the selling pressure, accumulating 270,000 BTC over the past two weeks. Markets are now focused on the upcoming U.S. nonfarm payrolls report, which could influence the Fed's interest rate outlook. A sustained move above $61,000 would strengthen bullish momentum, while $58,300 remains the key support level.

At the close on Wednesday, the total market cap of all BSE Sensex companies stood at Rs 4,76,48,037.