Namaste! Aaj ka news roundup, Newswala style!

MARKETS

Markets: Indian equities opened flat but slipped into the red, with Nifty50 falling 182 points (0.8%) to 23,487 due to profit-booking. Investors remain cautious ahead of the US-India trade meet, where a Bilateral Trade Agreement is being negotiated, with nerves expected to persist until the meeting concludes on Saturday.

TOP STORIES

JSW at the Top of The World 🌍

What Happened

JSW Steel has officially clinched the title of the world’s most valuable steel company, surpassing heavyweights like ArcelorMittal and Nucor Corp.

With a market capitalization of $30.31 billion, it edged past its closest rivals by $91 million to $3 billion. 

This remarkable feat was celebrated by Parth Jindal, who shared the news proudly on X (formerly Twitter), crediting the JSW family’s hard work. 

Shares of JSW Steel have jumped 18% this year, making it one of the top performers on the Nifty 50 index.

Why It Matters

Well, becoming the world’s most valuable steel company isn’t just about bragging rights — it reflects JSW Steel’s aggressive growth and solid financials. 

With a current capacity of 35.7 million tonnes (MT) and plans to hit 51.5 MT by 2031, JSW is on a steel-strong growth trajectory.  

The Money Matter

The company’s ability to maintain steady EBITDA while expanding capacity has delivered attractive returns for shareholders.

In India, JSW Steel’s ₹2.6 lakh crore market cap has left domestic rivals like Tata Steel (₹1.95 lakh crore) in the dust. 

As of now, India’s steel consumption, which rose 6.8% in Q3 FY25, is expected to grow by 10% this fiscal — a trend JSW is poised to capitalize on.

TOP STORIES

The Layoff Wave Sweeping Wall Street

What Happened?

Wall Street is feeling the heat — and not in a good way. Big U.S. investment banks like Goldman Sachs, JPMorgan, and Bank of America are cutting jobs as dealmaking slows down. 

Why? Blame it on economic uncertainty and tariff threats that have shaken market confidence. Investment banking fees fell 6.3% this year, dropping to $16.83 billion from $17.96 billion last year.

Even stock offerings are down — $57 billion so far this year, compared to $69 billion last year. 

Why It Matters

When banks start firing, it’s never a good sign. Wall Street bonuses soared last year, with Bank of America’s bonus pool jumping 10% — but this year might not be so generous.

If deals don’t pick up soon, more layoffs could follow, especially at smaller banks. 

CEO paychecks might also take a hit… or not — Goldman Sachs’ CEO David Solomon took home $39 million last year.

The Bigger Worry

Layoffs on Wall Street can ripple through the economy. Fewer jobs mean less spending, and when banks tighten their wallets, everyone feels the pinch.

Plus, with fewer deals happening, it’s clear the economy isn’t as stable as it looks.

TOP STORIES

Godrej’s Big Plans for a Hot Market

What Happened?

Godrej Appliances, part of the Godrej Enterprises Group, is turning on the turbo this summer! After a sizzling 100% growth in AC sales last year, it now aims for a 50% boost this season.

With ACs making up nearly half of its billion-dollar revenue, Godrej wants to hit a 12-13% market share by FY26 — up from 6.5% in FY24. 

To make it happen, they have launched nine new smart AC models with AI technology, IoT connectivity, and WiFi-enabled controls — all packed with high cooling power.

Why It Matters

In a market expected to grow by 35% this year, Godrej Appliances is stepping up its game. The company is focusing on smaller cities where both budget-friendly and premium ACs are flying off the shelves. 

To tap into this growing demand, Godrej has opened around 140 exclusive brand stores, significantly strengthening its distribution network. 

However, it’s not all smooth sailing — supply chain challenges are causing headaches. The availability of compressors and copper tubes remains a concern, thanks to strict import norms from China.

The Comeback Plan

To tackle this, the government’s production-linked incentive (PLI) scheme, launched in FY21, has been a game-changer. It has reduced imports of AC components from 75% to 35%, promoting domestic manufacturing. 

But the road to self-sufficiency is still under construction. Godrej remains optimistic that by FY27, India will achieve full independence in compressor production.

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PAISON KA KHEL

Maruti’s Big Plans, Bigger Tax Shock 🚗 

Maruti Suzuki is pumping ₹7,410 crore into a third plant at Kharkhoda, Haryana, aiming to roll out 2.5 lakh cars a year.

But the stock (NSE: MARUTI) didn’t share the excitement — it slipped 1.5% to ₹11,720 on Wednesday before recovering slightly to ₹11,845.85, still down 0.43%.

Why the dip? The tax department hit Maruti with a ₹2,966 crore addition to its FY22 disclosed income.

Foreign Currency Blues No More? 👏

State Bank of India (SBI) just raised a hefty $1 billion through a dollar-denominated syndicated loan — the biggest from India this year.

With foreign-currency loans down 30% to $3.2 billion (a four-year low), this could be the comeback the market needs.

Interestingly, SBI skipped the option to add $250 million more. Meanwhile, Reliance Industries is in the market for a $3 billion loan, and NBFCs are increasingly eyeing dollar funding.

GLOBAL NAZARA

IMF Hands Pakistan $1.3 Billion Loan 📄 

Pakistan has got a big financial boost from the IMF — a $1.3 billion loan to tackle climate change. But wait, there’s more! The IMF also released $1 billion from an earlier $7 billion bailout, bringing the total to over $2 billion.

This 28-month deal under the Climate Resilience and Sustainability Facility is all about helping Pakistan go green while fixing its economy.

The IMF praised Pakistan for making solid progress — inflation is at its lowest since 2015, and financial conditions are improving.

Retail Traders Are Dipping into the Market 🚣

While big investors are running for cover, retail traders are doing the opposite — throwing $67 billion into US stocks this year. That’s barely below the $71 billion they spent last quarter.

Why the confidence? Because “buying the dip” has worked for four of the last five years. Even though the S&P 500 is down 2% and tech stocks have dropped 8%, small investors are staying bold.

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