Govt Commits ₹10,000 Cr to Deeptech Startups

• Indian stock market benchmarks—the Sensex and Nifty 50—ended higher on Friday, July 4, snapping a two-day losing streak. Gains in key heavyweights like ICICI Bank, Infosys, Reliance Industries, and HDFC Bank helped lift the indices, despite ongoing concerns around tariff-related uncertainty.

• With the July 9 deadline for the India-US trade deal approaching, investors are treading cautiously. Market sentiment remains fragile, also weighed down by anticipation ahead of the Q1FY26 earnings season.

• The broader market is in a holding pattern, with global cues remaining mixed and foreign institutional investors continuing to pull back amid a risk-off mood. However, domestic institutional inflows are offering some support.

• Following a strong recent rally, benchmark indices are now trading near peak valuation levels, limiting further upside unless backed by strong earnings and clarity on the trade deal. Meanwhile, the mid- and small-cap segments have turned stock-specific as investors become more selective post-recovery.

Paras Defence +9.99%

• Defence stocks rallied on July 4 after the Defence Acquisition Council (DAC) approved capital acquisition proposals worth around ₹1.05 lakh crore.

• Paras Defence surged 10% to hit the upper circuit, also factoring in its stock split adjustment.

Nuvama Wealth Management (10.59%)

• SEBI has barred Jane Street Group from accessing the Indian securities market, delivering a major blow to the US trading firm, which earned over $2.3 billion in net revenue from equity derivatives in India last year.

• Nuvama Wealth Management, Jane Street's domestic partner, saw its shares plunge 10.6% to ₹7,310. Shares of BSE also declined 6.4% to ₹2,639.

• Govt commits 2nd tranche of ₹10,000 crore ($1.1Bn) fund for deeptech startups. (YS)

• Centre to launch ₹1,950 crore ($228Mn) drone tech incentive scheme. (BW)

• India liquidity surplus may not push growth in bank credit up. (ET)

• RBI looks to ensure uniformity in credit bureau data quality. (ET)

• OPEC+ set to further speed up output hikes. (ET)

• Emmvee Photovoltaic Power fid papers for ₹3,000 crore ($350Mn) IPO. (MC)

• Ahead of IPO, Travel Food Services garners almost ₹600 crore ($70Mn) from anchor investors. (MC)

• Safex Chemicals files IPO papers, fresh issue size at ₹450 crore ($52Mn). (MC)

• Allied Engineering Works files IPO papers with ₹400 crore ($46Mn) fresh issue size. (MC)

• Brigade Hotel Ventures raises ₹126 crore ($14.7Mn) ahead of IPO. (MC)

• Crizac IPO closes with 60x subscription on third day. (MC)

This week’s mainboard IPO schedule

• Travel Food Servi

  • Offering Period: 07 July - 09 July, 2025

  • Listing Date: 14 July, 2025

  • Issue Price: 1045-1100

  • Lot Size: 13

• Smartworks Coworking Spaces

  • Offering Period: 10 July - 14 July, 2025

  • Listing Date: 17 July, 2025

  • Issue Price: TBC

  • Lot Size: TBC

M&A / Investments

• Citigroup sells Swiggy shares worth ₹12 crore ($1.4Mn) to BNP Paribas in bulk deal. (EN)

• Lenskart invests in deep-tech XR startup Ajna Lens. (EN)

Debt

• Adani Enterprises to raise ₹1,000 crore ($116Mn) via NCDs. (TH)

• Artha Global invests ₹700 crore ($81Mn) into Hyderabad’s Phenoix Triton project. (YS)

• Muthoot FinCorp launches Tranche VI NCD issue to raise ₹290 crore ($33Mn). (CNBC)