GLOTRU News

Asian Paints Upgraded to ‘Buy’ by Jefferies: 3 Key Reasons for a Potential Turnaround Asian Paints has received a significant confidence boost from global brokerage firm Jefferies , which has issued a double upgrade , moving the stock rating from Underperform to Buy . The firm has also raised the target price to ₹2,830 , indicating an upside potential of around 13% from current levels. Jefferies believes that despite recent challenges in the consumer space, Asian Paints could be poised for a contrarian rebound . 1. Sector Struggles May Be Bottoming Out Jefferies highlights that many consumer-facing companies have been hit hard in recent quarters due to sluggish demand, intense competition, and shrinking margins . These headwinds have led to a significant dip in stock prices. However, there are now early signs of recovery in key areas like demand and margins , even though competition remains a concern. Stocks such as Asian Paints, HUL, and Varun Beverages have been identified ...

OnePlus 13 Launching in India on January 7: Full Specs, Features, and All You Need to Know OnePlus 13 India Launch Set for January 7: Complete Details Inside Chinese smartphone brand OnePlus is all set to unveil its latest flagship, the OnePlus 13, in India and global markets on January 7, 2025. The device was originally introduced in China in November 2024. As the direct successor to the OnePlus 12, which debuted in India back in January 2024, the OnePlus 13 brings notable upgrades across performance, display, camera, and battery. OnePlus 13: Key Features and Specifications Operating System : Android 15 with OxygenOS 15 on top Display : 6.82-inch 2K+ LTPO AMOLED panel Refresh Rate : Adaptive 1–120Hz Glass Protection : Crystal Shield Super Ceramic Brightness : Up to 1600 nits (typical), 4500 nits (peak) PWM Dimming : 2160Hz high-frequency Processor : Qualcomm Snapdragon 8 Elite Available Variants in China : 12GB RAM + 256GB storage 12GB RAM + 512GB storage ...

Sabih Khan Appointed Apple’s New COO: A Global Leader with Indian Roots Sabih Khan Appointed as Apple’s Chief Operating Officer – From Moradabad to Cupertino Apple has officially announced Sabih Khan as its new Chief Operating Officer (COO) , replacing Jeff Williams in a move described as a "long-planned succession." Khan, who has been with the company for three decades, is currently serving as Apple’s Senior Vice President of Operations . Starting later this month, Khan will step into his new role , continuing to report to Apple CEO Tim Cook . Williams , meanwhile, will retain responsibility for the design team and Apple Watch until his planned retirement later this year. Who is Sabih Khan? Sabih Khan was born in 1966 in Moradabad , a city in the Indian state of Uttar Pradesh . During his early years, his family relocated to Singapore and later moved to the United States , where Khan pursued higher education. He holds a dual bachelor’s degree in Economics an...

Capgemini Acquires WNS for $3.3 Billion to Boost Agentic AI and GenAI Capabilities Capgemini has announced a $3.3 billion all-cash acquisition of India-based WNS , a global outsourcing and business process management firm. The acquisition, reported by Reuters, is aimed at strengthening Capgemini’s position in Agentic AI and Generative AI (GenAI) services to help businesses modernize through automation and intelligent technologies. Under the agreement, Capgemini will pay $76.50 per share for WNS , a 17% premium over WNS's July 3 closing price, excluding existing debt. Focus on Agentic AI and Business Transformation With this deal, Capgemini aims to build a dedicated consulting arm that specializes in AI-driven business transformation , particularly in the area of Agentic AI —AI systems capable of making autonomous decisions . This move reflects the growing global demand for intelligent automation that can deliver productivity, agility, and innovation at scale. "WNS bring...

JioBlackRock’s First Mutual Fund NFO Raises ₹17,800 Crore Across Three Debt Schemes JioBlackRock Asset Management has announced the successful closure of its first-ever New Fund Offer (NFO) , raising an impressive ₹17,800 crore (approximately $2.1 billion) across three newly launched mutual fund schemes: JioBlackRock Overnight Fund , JioBlackRock Liquid Fund , and JioBlackRock Money Market Fund . The NFO, which ran for three days from June 30 to July 2, 2025 , saw strong participation from over 90 institutional investors . In addition, more than 67,000 individual investors subscribed to the schemes, highlighting widespread trust in the new fund house. This achievement places JioBlackRock among the top 15 asset management companies in India by Debt Assets Under Management (AUM), out of 47 total fund houses operating in the country. The fund house stated that these offerings are designed to meet a wide variety of investment goals. Short-duration debt and money market funds offe...

IIT Madras Launches ₹200 Crore Alumni VC Fund to Back DeepTech Startups IIT Madras to Raise ₹200 Crore for First-Ever Alumni VC Fund Focused on DeepTech Startups In a bold step to strengthen India’s startup ecosystem, IIT Madras has announced a ₹200 crore fundraising goal for its inaugural venture capital fund . The fund, named the IITM Alumni Fund , will focus on backing early-stage startups , especially in the deeptech and AI space , that originate from the institute's innovation ecosystem. 🔹 A Call to the Alumni Network Speaking on July 5, IITM Director Prof. V. Kamakoti appealed to alumni and the wider investor community to participate in this landmark initiative. “ Now is the time to give back. When you give, you get back, ” he said, drawing inspiration from a Tamil proverb. His message emphasized that the fund is not just about financial returns—but about deepening alumni engagement while propelling India's innovation landscape forward. 🔹 Building on a Strong Le...

Crores in Minutes: The Expiry Day Strategy That Got Jane Street Banned in India Crores in Minutes: The Expiry Day Strategy That Brought Down Jane Street in India A global trading powerhouse. Billions in algorithmic tools. And an expiry-day strategy that turned nearly worthless options into gold—just moments before the market closed. That’s the explosive allegation behind SEBI’s action against Jane Street , which now faces a ban in India and the seizure of over ₹4,800 crore in alleged unlawful profits.  What Is ‘Marking the Close’? "Marking the Close" refers to a price manipulation strategy where traders place heavy buy or sell orders just before the market shuts. This artificially moves the index or stock price, impacting derivatives settlement, portfolio values, and fund benchmarks . Even a fractional shift can swing huge profits—especially when large leveraged positions are in play. The Alleged Strategy Jane Street Used According to reports, Jane Street didn’t jus...

  India’s Forex Reserves Surpass $700 Billion Once Again, Nearing Record High India’s Forex Reserves Cross $700 Billion Mark Again, Approaching Historic Peak India’s foreign exchange reserves saw a notable increase, rising by $4.84 billion to reach $702.78 billion in the week ending June 27, according to the latest data from the Reserve Bank of India (RBI). This surge places the reserves just shy of the record high of $704.89 billion set in September 2024. This rebound is significant, especially considering the reserves had fallen to a multi-month low of around $624 billion in late January. 🔹 Foreign Currency Assets Lead the Surge The key driver behind the rise was a sharp jump in foreign currency assets (FCA) , which soared by $5.75 billion to $594.82 billion . In contrast, gold reserves declined by $1.23 billion , totaling $84.5 billion . Foreign currency assets are expressed in US dollar terms and also reflect changes in the value of non-dollar currencies such as the ...

  Microsoft Cancels Major Xbox Games Amid Second-Largest Layoff in Company History Microsoft Cancels Perfect Dark, Everwild, and More Xbox Titles Following Massive Layoffs Microsoft has announced the cancellation of several major Xbox game titles as part of a sweeping restructuring plan that includes the layoff of approximately 9,000 employees — nearly 4% of its global workforce. The move marks one of the largest layoffs in the company's history and significantly impacts its gaming division. The news surfaced through an internal memo obtained by Variety , in which Phil Spencer , CEO of Microsoft Gaming, outlined the company’s shift toward “strategic growth areas” and efforts to simplify management layers. “To position Gaming for enduring success, we will end or decrease work in certain areas,” Spencer stated. Major Titles Affected: Perfect Dark and Everwild Among the most high-profile casualties are the Perfect Dark reboot and Everwild , both of which had generated substan...

India’s First Indigenous Defence Drone Simulator Patented by IG Drones: A Leap Toward Aatmanirbhar Bharat IG Drones Secures Patent for India’s First Made-in-India Defence Drone Simulator In a major advancement for India’s defence technology sector, IG Drones has been granted a patent for developing the country’s first indigenous defence drone simulator. The innovation is being celebrated as a transformative step toward reducing India’s dependence on foreign military training systems. Union Commerce Minister Piyush Goyal hailed the development, stating, “This will replace our reliance on imported systems and give realistic, cost-effective training to our armed forces. Another major boost to Aatmanirbhar Bharat!” A Breakthrough in Military Training Technology The simulator, which has been developed entirely within India, aims to provide immersive, high-accuracy training to personnel from the Indian Army, Navy, Air Force , and paramilitary forces . It is equipped to simulate reali...

RBI Scraps Pre-Payment Charges on Floating-Rate Loans for Individuals and MSMEs from 2026 RBI Eliminates Pre-Payment Charges on Floating-Rate Loans for Individuals and MSMEs The Reserve Bank of India (RBI) has announced that no pre-payment charges will be imposed on floating-rate loans availed by individuals and Micro and Small Enterprises (MSMEs). This rule will be effective from January 1, 2026, and will apply to all such loans sanctioned or renewed on or after this date. This move is aimed at improving borrower protection and ensuring access to fair and affordable credit. Financial institutions and borrowers have welcomed the step, with SBFC Finance describing it as a customer-friendly reform. Who Will Benefit from the New Rule As per the new guideline: Individuals who take floating-rate loans for personal, non-business use will not be charged any pre-payment penalties, even if co-borrowers are involved. For business loans taken by individuals and MSMEs, no pre-payment char...

HDB Financial Services Makes Impressive Market Debut with 12.84% IPO Premium HDB Financial Services marked a strong entry into the stock market on Wednesday, debuting at ₹835 per share , a 12.84% premium over its IPO price of ₹740. The stock opened ₹95 higher on both BSE and NSE , showcasing robust investor interest after a highly subscribed initial public offering. By 10:06 AM, shares had climbed further, trading around 13.6% above issue price . IPO Oversubscribed 16.69 Times The ₹12,500 crore IPO was oversubscribed 16.69 times , led primarily by Qualified Institutional Buyers (QIBs) , whose allocation was oversubscribed 55.47 times . However, retail investors showed caution , subscribing only 1.41 times their reserved portion. According to Tarun Singh, MD of Highbrow Securities , investors recognize HDB’s strategic position as a diversified NBFC backed by HDFC Bank’s distribution strength . He noted that the high QIB interest reflects confidence in the company’s “phygital”...

Crizac IPO Secures ₹258 Crore from Anchor Investors Ahead of Public Launch Crizac Limited , a Kolkata-based education platform, has successfully completed its anchor round, raising ₹258 crore from key institutional investors ahead of its Initial Public Offering (IPO) . The strong participation from major funds signals growing investor confidence in India’s ed-tech growth story. Anchor Round Highlights As per the BSE filing on 1st July 2025 , Crizac allocated 1,05,30,612 equity shares to anchor investors at ₹245 per share (face value: ₹2 each). Top institutional participants include: Shamyak Investment Pvt. Ltd. (13.95%) Aryabhata India Fund (10.85%) ICICI Prudential MF (8.14%) Allianz Global Investors Fund (8.14%) Other major investors like Societe Generale, Axis Max Life Insurance, Bandhan MF, and Motilal Oswal MF also joined the round. Notably, three domestic mutual funds applied through five different schemes , underscoring the IPO's broad appeal. Grey Market ...

  New Saudi Stopover Visa Lets Passengers Perform Umrah Without Separate Permit In a significant move to boost religious tourism, Saudi Arabia has introduced a new stopover visa that allows transit passengers to perform Umrah without needing a separate permit . This initiative is specifically available to passengers flying with Saudia Airlines or Flynas , reinforcing the Kingdom's strategy to encourage short-term spiritual and tourism-based visits. The free visa allows travelers to stay in Saudi Arabia for up to 96 hours (4 days) and is valid for 90 days from the date of issuance. Although the visa itself is free, a processing fee of SAR 39.50 (about AED 38.68) and mandatory medical insurance starting from SAR 13 (approx. AED 12.73) are required. Importantly, the visa is automatically generated during the flight booking process on either the Saudia or Flynas websites. It is available only to transit passengers with onward confirmed bookings. Eligibility Criteria Incl...

  Apollo Hospitals Restructures Pharmacy Business; Nuvama Raises Target, Maintains ‘Buy’ Rating Apollo Hospitals Enterprise Ltd (AHEL) has announced a major restructuring of its pharmacy business with plans to list its omni-channel pharmacy unit within the next 18 to 21 months . Under this plan, shareholders will receive 195.2 shares of the new entity (NewCo) for every 100 AHEL shares . Nuvama Institutional Equities welcomed the move, noting it provides a clearer path to value discovery for investors. As a result, Nuvama has maintained its ‘Buy’ rating on Apollo and raised the target price to ₹8,635 , up from ₹8,200, based on estimates up to June FY27. Key Highlights of the Restructuring Defined Value Unlocking : The new structure separates the pharmacy business, allowing Apollo to focus more sharply on hospital operations . Scalable and Integrated Pharmacy Chain : Investors gain exposure to a robust omni-channel network , integrating offline and digital models. I...

Why Bolt CEO Ended Unlimited PTO and What It Means for High-Performance Teams Unlimited PTO may sound progressive—but in practice, it’s broken. That’s the firm stance taken by Bolt CEO Ryan Breslow , who recently scrapped the company’s unlimited vacation policy in favor of a more structured system. In a candid post on LinkedIn, Breslow explained why Bolt, a San Francisco-based checkout technology firm, is switching to a fixed PTO policy that grants all employees four paid weeks off per year —with opportunities to accrue more over time. Why Bolt Ditched Unlimited PTO “When time off is undefined, the good ones don’t take PTO. The bad ones take too much,” Breslow wrote. This imbalance, he argues, creates burnout among top performers , inequity across teams , and ultimately, confusion . By clearly defining PTO, Bolt hopes to eliminate uncertainty and ensure everyone receives meaningful, restorative time away from work. The New PTO Policy: Clarity Over Ambiguity Under the ne...

Senate Strikes AI Clause from Trump’s ‘Big Beautiful Bill,’ Curbing Big Tech Influence In a significant turn of events for the tech industry, the U.S. Senate has voted overwhelmingly to remove a controversial AI-related provision from former President Donald Trump’s much-anticipated legislative package, often dubbed the “Big Beautiful Bill.” In a rare near-unanimous decision— 99-1 vote early Tuesday morning —senators struck down a section that would have restricted individual states from creating and enforcing their own AI regulations. This move is seen as a clear rebuke of Big Tech influence and a win for state-level authority over emerging technology governance. A Closer Look at the AI Provision The provision in question, originally introduced by Sen. Ted Cruz (R-Texas) , was intended to streamline AI deployment by limiting a patchwork of state laws. At its inception, the language would have created a 10-year federal override , preventing any state from enacting its own AI rul...

PNB Removes Minimum Balance Penalty: A Big Relief for Savings Account Holders In a major customer-friendly move, Punjab National Bank (PNB) has waived off penalties for not maintaining the minimum average balance (MAB) in all savings accounts, effective July 1, 2025 . This step is a big win for account holders, especially those from priority segments like women, farmers, and low-income families. With this new rule in place, PNB customers can now maintain their savings accounts without worrying about balance-related penalties —making banking more accessible and stress-free for everyone. “This decision reflects our unwavering commitment to inclusive banking,” said Ashok Chandra , PNB’s Managing Director and CEO. “We believe this move will ease the financial burden and bring more people into the formal banking network.” Why This Matters: ✅ No Penalty for Low Balance – You don’t have to maintain a minimum balance anymore. ✅ Inclusive Banking – Focused on empowering women, f...