Adani Eyes ₹12,500 Cr Deal

• The Indian stock market benchmarks, Sensex and Nifty 50, closed lower for a second straight session on Thursday, July 3, amid mixed global cues and persistent uncertainty around the India-US trade negotiations.

• Investor sentiment remained subdued ahead of Q1FY26 earnings, while last week's rally prompted continued profit booking. Global weakness and cautious FII activity—driven by premium valuations—also contributed to the consolidation phase.

• With the 90-day pause on US-India trade tariffs nearing its end, markets are closely watching for developments. In the absence of fresh triggers, mixed movement among index heavyweights is limiting Nifty’s direction.

• However, the broader trend remains positive unless the index decisively falls below the 25,200 level.

Spicejet +1.11%

• SpiceJet shares rose nearly 3% intraday on July 3 after the airline announced it had received the first two overhauled engines from global MRO provider StandardAero and successfully ungrounded another Boeing 737 NG.

• The stock later trimmed gains to close at ₹39.92.

Avenue Supermarts (1.41%)

• Avenue Supermarts Ltd, the parent of DMart, saw its shares fall 4% in early trade on Thursday, July 3, after its Q1FY26 business update fell short of expectations.

• The company reported standalone revenue of ₹15,932 crore for the quarter ended June 30, 2025, up 16.2% YoY from ₹13,712 crore. The stock later trimmed losses to close 1.41% lower at ₹4,330.

• India may be subject to lower US tariffs compared to APAC nations: Moody's. (ET)

• Fresh loan spreads widen in May as banks look to save on margins. (ET)

• India services sector growth hits 10-month high as demand surges, PMI shows. (ET)

• Crizac IPO subscribed 2.75x on Day 2. (MC)

This week’s mainboard IPO schedule

• Indogulf Cropsciences

  • Offering Period: 26 June - 30 June, 2025

  • Listing Date: 03 July, 2025

  • Issue Price: 105 - 111

  • Lot Size: 135

• Crizac

  • Offering Period: 02 July - 04 July, 2025

  • Listing Date: 09 July, 2025

  • Issue Price: 233-245

  • Lot Size: 61

M&A / Investments

• Adani group leads race to acquire Jaiprakash Associates for ₹12,500 crore ($1.4Bn). (BW)

• Torrent Pharma to acquire additional 2.41% stake in JB Chemicals for ₹620 crore ($72.5Mn). (ET)

• Tata likely in talks to buy out investors in Resurgent Power Ventures. (BL)

• Carlyle Group may sell 10% stake in Piramal Pharma via block deals. (MC)

  
  

Debt

• IFC commits ₹460 crore ($53Mn) to IndiGrid to build India's largest battery energy storage project. (ET)

• InCred Finance bags ₹400 crore ($46Mn) debt funding from Morgan Stanley, others. (Inc42)

VC