Namaste! Aaj ka news roundup, Newswala style!

MARKETS

Markets: Indian equity indices surged following exit polls predicting a significant win for the BJP-led NDA, with the Sensex up 2,507 points at 76,468 and the Nifty up by 3.25%, reflecting investor optimism.

BUSINESS

IndiGo Targets Lesser-Known International Destinations

What happened

IndiGo, India's largest airline, is setting its sights on lesser-known international destinations to fuel its next phase of growth. Originally aiming to deploy 30% of its flying capacity to international markets by 2030, the airline now plans to reach this target sooner, according to CEO Pieter Elbers. The budget carrier has already ventured into Central Asia, adding cities like Baku, Almaty, Tashkent, and Tbilisi to its network. 

With the impending arrival of the longer-range Airbus A321XLR planes, IndiGo plans to expand further into Europe and Asia, enhancing its presence in popular destinations like Singapore and Dubai.

Why it matters

IndiGo's strategic pivot towards under-the-radar destinations is a smart move in the competitive aviation market. As more Indians look to travel internationally, the airline sees significant opportunities in lesser-known but increasingly popular destinations. By capitalising on the growing aspirations of Indian travellers, IndiGo is well-positioned to capture a diverse customer base. 

The expansion comes on the back of a record profit of nearly $1 billion in the financial year 2023-2024, and a doubling of its global network to 33 destinations over the past two years. The addition of the Airbus A321XLR will enable flights to parts of Europe and deeper into Asia, bolstering its international footprint.

Zoom out

IndiGo's ambitious international expansion is set to reshape its future. With plans to add 10 new domestic and global destinations this year and a recent order of 30 Airbus A350 wide-body planes, the airline is gearing up to reach even farther, including potential routes to the United States and Australia.

BIG MONEY MOVES

Temasek and Fidelity invests $200 million in Lenskart

Singapore's Temasek and Fidelity Management & Research Company have jointly invested $200 million in Lenskart through a secondary transaction. This investment signifies Temasek's reinforced confidence in Lenskart's business model , while Fidelity joins as a new investor.

This strategic move adds to Lenskart's substantial capital influx of nearly $1 billion over the last 18 months, indicating strong investor interest in the company's disruptive approach to eyewear retailing.

Welspun Corp inks ₹ 3,670 Crore Deal with Aramco

Homegrown Welspun Corp Ltd announced that its associate company, East Pipes Integrated Company for Industry (EPIC), has signed contracts worth SAR 1.65 billion (approximately ₹ 3,670 crore) with Saudi Arabian Oil Co . (Aramco) for the supply of steel pipes. The contracts, spanning 19 months, will impact Welspun's financials from Q4 FY25 to Q4 FY26.

BUSINESS

Adani Group and ICICI Bank Unveil Co-Branded Credit Cards with Airport Perks

What happened

Adani Group and ICICI Bank have launched co-branded credit cards packed with airport-related benefits . This collaboration aims to elevate customer experiences across Adani’s varied businesses. Introduced via the Adani One app, these cards offer numerous perks like Adani Reward Points, premium lounge access, free air tickets, and discounts on duty-free shopping and F&B expenses at airports.

The cards are designed to make travel smoother and more rewarding for frequent flyers.

Why it matters

This launch is a significant move for Adani Group as it marks its entry into the financial sector. The co-branded credit cards, supported by Visa, are tailored to offer an enhanced lifestyle and travel experience. With up to 7% Adani Reward Points on purchases within the Adani ecosystem—including flights, hotels, and utility payments—users stand to gain substantial rewards.

The Adani One ICICI Bank Signature Credit Card comes with an annual fee of ₹ 5,000 but packs a punch with joining benefits worth ₹ 9,000. On the other hand, the Adani One ICICI Bank Platinum Credit Card offers great value with an annual fee of just ₹ 750 and joining benefits worth ₹ 5,000.

Zoom out

The cards also offer benefits such as free movie tickets and discounts on groceries, making them attractive to a wide range of consumers. This strategic partnership leverages Adani’s reputation for innovation and ICICI Bank’s expertise in financial services, aiming to set new standards in consumer finance.

BIG PICTURE

Tata Power Solar launches nationwide solar campaign 

Tata Power Solar Systems Ltd (TPSSL) kicked off its ' #GharGharSola r, Tata Power ke Sangh' campaign in Jodhpur, Rajasthan. Known as Sun City for its abundant sunny days, Jodhpur hosted the launch led by Praveer Sinha, CEO and MD of Tata Power, alongside Deepesh Nanda, CEO and MD of Tata Power Renewable Energy Ltd (TPREL). The initiative aims to promote residential solar rooftop solutions across India.

Nvidia leads global market cap surge with AI Rally

Nvidia took the lead in market cap gains in May, with its market cap soaring to $2.69 trillion, a remarkable 25% increase during the month. An AI-driven rally fueled this surge, as Nvidia's robust revenue forecast and stock split announcement boosted investor confidence.

Microsoft maintained its top position with a 6.6% rise to $3.08 trillion , while Apple surged to $2.94 trillion, driven by AI optimism and increased smartphone shipments. 

BUSINESS

NTPC Aims for 10GW Nuclear Expansion with New Subsidiary

What happened

NTPC Ltd, India's biggest power producer, is planning to dive deep into nuclear energy by developing 10GW of capacity over the next decade, requiring an investment of ₹1.5 trillion . Chairman and Managing Director Gurdeep Singh mentioned that NTPC is in talks with various states and has approached the government for approval to form a new subsidiary, NTPC Nuclear Ltd, to handle this initiative.

At present, NTPC's total power generation capacity is 76GW, with the majority coming from thermal power.

Why It Matters

This ambitious expansion will more than double India's existing nuclear power capacity, which is around 7GW. Nuclear energy is pivotal in India's strategy to achieve 500GW of non-fossil power by 2030, providing a reliable base-load power source critical for balancing renewable energy supplies.

NTPC's nuclear plans reflect a strategic shift towards sustainable energy, aiming to reduce reliance on thermal power and support India's net-zero emissions goals. By exploring new nuclear sites and forming a dedicated subsidiary, NTPC is positioning itself as a leader in clean energy innovation.

Zoom out

In collaboration with NPCIL through their joint venture , Anushakti Vidhyut Nigam Limited, NTPC will soon lay the foundation stone for the Mahi Banswara nuclear plant in Rajasthan within the next 100 days. This project includes two pressurised heavy-water reactors in Rajasthan and another two in Madhya Pradesh.

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