Trump Hints at India Trade Deal

• Market sentiment remained subdued as uncertainty lingered over the outcome of India-US trade talks. While US President Donald Trump announced on July 1 that a lower-tariff trade deal with India would be revealed soon, investors await further details to assess its impact on the economy and markets.

• Mixed global cues and the approaching tariff deadline are keeping investors on edge. Attention is now turning toward the upcoming Q1 earnings season, where expectations remain high.

• Despite near-term caution as markets hover near key resistance levels, strong macroeconomic fundamentals and increased government spending continue to provide underlying support.

Tata Communications +4.76%

• Tata Communications shares rose nearly 5% on July 2 after Macquarie initiated coverage with an 'Outperform' rating and a target price of ₹2,300, implying over 30% upside from the previous close, CNBC-TV18 reported.

SBI Cards (1.86%)

• SBI Cards shares fell nearly 2% on July 2 after Goldman Sachs downgraded the stock to 'Neutral' from 'Buy', while maintaining a target price of ₹1,006, implying an 8% upside from the previous close.

• RBI directs banks, other lenders not to levy pre-payment charges on biz loans to individuals, MSEs. (ET)

• India plans new strategic oil reserve to enhance energy security. (ET)

• India pushes for social security pacts in all FTAs. (BT)

• Sebi suggests easing rules for public listing of private InvITs. (YS)

• Steamhouse India files confidential draft IPO papers to raise ₹700 crore ($81Mn). (MC)

• Crizac's IPO was subscribed 45x on Day 1. (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

• Kapur Family Trust to sell ₹2,000 crore ($234Mn) stake via Travel Food IPO. (CG)

• TVS Logistics Park raises ₹1,300 crore ($152Mn) via private InvIT. (ET)

• Harindarpal Banga to offload ₹1,282 crore ($150Mn) stake in Nykia block deal. (ET)

• Bharat Forge completes ₹746.46 crore ($87Mn) acquisition of AAM India manufacturing. (ET)

• Zoho acquires Asimov Robotics. (TOI)

Debt

• India's Dorf-Ketal in talks to raise ₹4,274 crore ($500Mn) private credit. (BL)

• IORA raises Rs Cr funding from Caspian Debt. (EN)

VC

• Stride Ventures achieves first close for its Abu Dhabi Global Market Fund V. (YS)