_Markets open today_
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📊 *ECONOMY & POLICY*
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🏦 *GST mop-up climbs 14% to ₹1.95 lakh crore in June*
Gross GST collections rose to ₹1.94 lakh crore, led by a 34.6% jump in import-linked GST even as domestic GST grew a slower 6.5%.
Net collections (post-refunds) rose 11.2% YoY to ₹1.62 lakh crore — economists see ₹2 lakh crore/month becoming the new normal as West Asia disruption eases.
📎 _Read: BusinessLine_
📉 *Factory growth cools to second-weakest since mid-2022*
HSBC’s India Manufacturing PMI slipped to 54.2 in June from 55.0 in May, with new export orders growing at their weakest pace in 39 months on soft European demand.
Business confidence fell to a five-month low and hiring growth was the weakest of 2026 so far — a soft-landing signal worth watching into Q2.
📎 _Read: BusinessLine_
📉 *Rupee posts sharpest one-day fall in three weeks*
The rupee slid 59 paise to close at 95.25/$, its worst single-session drop since June 8, as the dollar strengthened broadly and FPI outflows added pressure.
The break of 95 has weakened sentiment; traders now watch 95.80 resistance, with RBI’s forward book near a record $106.7bn short — a currency to track ahead of Q1 earnings translation.
📎 _Read: BusinessLine_
💡 *Private capex pipeline surges 70% to ₹13.1 trillion in Q1*
New private project announcements jumped over 70% YoY and sequentially, led by a 398% QoQ surge in power-sector proposals tied to India’s 900GW non-fossil capacity roadmap.
Government capex announcements more than halved to ₹1.4 trillion on fiscal pressure — the capex baton is visibly shifting to private hands, power first.
📎 _Read: Business Standard_
⚡ *Power consumption up 11.6% in June on heatwave, delayed monsoon*
India used 166.46 BU of electricity in June versus 149.13 BU a year ago, with peak demand hitting 264.76 GW as cooling load stayed elevated ahead of a slow monsoon onset.
Steady demand into July supports power and power-equipment names even as broader industrial indicators soften.
📎 _Read: Business Standard_
🔋 *EV registrations nearly double in Q1 FY27*
Passenger EV registrations rose 89% YoY to 82,737 units in April-June, with Tata Motors (+104%) and Mahindra (nearly doubling) leading; Hyundai’s EV registrations fell.
Rising fuel prices during the West Asia conflict pushed buyers toward EVs even as multiple automakers raised prices from July 1 — a structural tailwind for EV-linked component makers.
📎 _Read: BusinessLine_
🤝 *Sitharaman begins four-day France visit*
The FM will co-chair the India-France Economic and Financial Dialogue in Aix-en-Provence and hold roundtables with global CEOs to pitch India’s investment story.
Comes alongside a push on cyber-resilience cooperation and clean-energy/tech partnerships with the Provence-Alpes-Côte d’Azur region.
📎 _Read: Business Standard_
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🏢 *COMPANIES*
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📈 *Mahindra posts highest-ever monthly SUV sales in June*
M&M sold a record 60,393 domestic SUVs (+28% YoY), crossing 60,000 units in a month for the first time; Tata Motors PV sales jumped 69% YoY to 63,083 units.
Maruti’s total sales rose 19% to 200,390 units — a strong pre-festive auto print that also lifted EV volumes across the board.
📎 _Read: Economic Times_
💻 *Govt asks WhatsApp to defer username rollout over fraud risk*
MeitY, acting on Home Ministry concerns about impersonation and scams, has asked Meta to pause WhatsApp’s new username feature and explain it within three days.
A joint MHA-MeitY meeting with messaging platforms is set for Thursday — a live regulatory overhang for Meta’s India user-safety posture.
📎 _Read: Business Standard_
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🌍 *GLOBAL & WORLD*
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💻 *Meta reportedly weighs entry into cloud computing*
Meta is said to be exploring leasing out surplus AI compute capacity, potentially challenging AWS, Azure and Google Cloud and reducing reliance on ad revenue.
Relevant context for Indian IT services firms that both partner with and compete alongside hyperscalers on AI infrastructure deals.
📎 _Read: Economic Times_
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_Compiled by InvestoScope · 02 Jul 2026_