_Markets open today_
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
📊 *ECONOMY & POLICY*
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
🛣️ *PM launches ₹29,000cr Viksit UDAN scheme*
Modi rolled out the modified UDAN scheme’s next decade-long phase, with ₹12,159cr for 100 new aerodromes, ₹3,661cr for 200 helipads and continued viability-gap funding for regional airlines, alongside a new terminal at Jodhpur.
Expect renewed order-book visibility for regional airport EPC contractors, AAI-linked developers and regional carriers like Alliance Air and IndiGo’s UDAN routes.
📎 _Read: NDTV Profit_
🤝 *PM Modi begins Indonesia visit, UPI-QRIS push*
Modi’s July 6–8 state visit to Jakarta will focus on defence manufacturing, critical minerals and a proposed UPI-QRIS payment linkage, with Indonesia’s ONDC-inspired digital marketplace ION going live during the summit.
A UPI tie-up would open a new remittance/payments corridor for NPCI-linked fintechs, while defence and critical-minerals cooperation offers a longer-dated opportunity for Indian EMS and mining-tech players.
📎 _Read: NDTV Profit_
🏦 *Private banks post strong Q1FY27 business updates*
Axis Bank led large private lenders with 18.8% YoY advance growth and 18.2% deposit growth; HDFC Bank grew advances 15.4% and deposits 14.7%, while system-wide RBI data shows credit growing 17.7% YoY against 12% deposit growth.
The widening 570bps credit-deposit growth gap keeps funding-cost pressure in focus — a net positive read-through for NIMs at banks with strong CASA franchises like HDFC Bank and Axis Bank.
📎 _Read: Business Standard_
⚡ *India moves to build strategic gas storage after Hormuz scare*
Following the West Asia-triggered LNG supply shock earlier this year, government officials confirmed India is beginning work on strategic natural gas storage, alongside the previously announced plan to expand crude reserves and deepen ADNOC-linked storage partnerships.
A structural positive for GAIL, Petronet LNG and city-gas distributors, reducing the tail-risk premium the market has attached to India’s gas-import dependency since March’s supply shock.
📎 _Read: BusinessLine_
🏢 *Auto industry doubles down on E20 fuel defence*
Maruti Suzuki, Hero MotoCorp, Toyota Kirloskar and Hyundai again publicly defended E20 ethanol-blend safety, citing service data on over a crore vehicles with no wear-related failures traced to the fuel.
A second consecutive day of coordinated industry pushback signals the auto lobby sees real bottom-line risk from the misinformation cycle — watch for any read-through to near-term volumes at fuel retailers and OMCs.
📎 _Read: BusinessLine_
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
🏢 *COMPANIES*
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
💰 *NSE seeks RBI nod for quanto currency derivatives*
NSE’s IPO DRHP reveals it has sought RBI approval to launch quanto cross-currency derivatives (e.g. EUR-USD, GBP-USD) as rupee currency-derivative turnover has collapsed from ₹33,165cr to ~₹5,000cr/day since 2024’s hedging-only mandate.
A new product line for NSE ahead of its listing, aimed at winning back offshore flow that has migrated to over-the-counter venues — modestly incremental to exchange transaction revenue if approved.
📎 _Read: Business Standard_
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
🌍 *GLOBAL & WORLD*
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
🤝 *India-Japan summit yields $10bn pledge, UNICORN pact*
PM Modi and PM Takaichi signed 129 MoUs spanning AI, semiconductors and critical minerals, launched the first India-Japan defence co-development project (UNICORN naval comms), and agreed to review the 15-year-old CEPA.
A structural positive for defence PSUs/EMS players, semiconductor ancillary names and clean-energy JV partners as Japanese capital commitments convert into on-ground projects over the coming quarters.
📎 _Read: Outlook India_
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
_Compiled by InvestoScope · 06 Jul 2026_