ITC targets Coke with coconut cola as FPIs return ₹16K cr

FPIs flipped to net buying in the week ending July 3, injecting ₹16,462 crore across equity, debt and hybrid instruments, driven by a ₹5,986 crore surge on June 29. This reversal follows a month‑long net exit of ₹9,340 crore, signaling a potential shift in foreign sentiment as oil prices and rupee stability improve.

ITC has launched a premium, sugar‑free Coconut Cola under its B Natural brand, entering India's carbonated soft‑drink market. Priced at ₹60 for a 250 ml can, the product targets health‑conscious consumers and aims to challenge Coke, Pepsi and Reliance's Campa in the premium segment.

The Indian government pulled the seventh‑round auction of nine critical and strategic mineral blocks after receiving no bids or too few qualified bidders. The move highlights the difficulty of attracting private capital to high‑risk mineral projects, a hurdle for India’s clean‑tech and energy‑security ambitions.

A plunge in global crude to about $73 a barrel slashes India's fuel subsidy bill and trims the projected fiscal deficit overshoot, analysts say. Still, the government faces a 9.6% deficit for 2026‑27 and must brace for El Nino‑driven agricultural stress. The outlook hinges on the durability of lower oil prices.

India and Russia have set a $50 billion investment goal for 2030, focusing on advanced manufacturing, green hydrogen, and critical minerals. The joint working group pledged to spur private‑sector deals, giving Indian firms a foothold in Russia’s resource base and helping both economies diversify supply chains amid geopolitical shifts.

The Karnataka High Court refused to stay the state’s Gig Workers Welfare Act and ordered Swiggy, Zomato, Zepto and other platforms to deposit the disputed welfare fee with the court within three weeks. The move pits state‑level levies against the central Code on Social Security, potentially reshaping the cost base for India’s food‑delivery and quick‑commerce firms.

HDFC Bank posted gross advances of Rs 30.61 trillion, up 15.4% YoY, and deposits of Rs 31.71 trillion, up 14.7% YoY for the June quarter. The growth signals robust loan demand and strong deposit mobilisation, bolstering the bank's earnings outlook and putting its share price back in focus.

ICICI Prudential Life filed with IRDAI to reclassify Prudential Corp Holdings from promoter to investor, a move designed to curb potential conflicts after Prudential’s planned 75% buy of Bharti Life. The reclassification will limit Prudential’s voting rights, reassuring regulators and shareholders that the deal won’t distort governance.

Yes Bank's provisional Q1 FY27 update shows loans up 18.4% YoY to ₹2.85 lakh crore and CASA deposits rising 14.3% YoY to ₹1.03 lakh crore, though deposits fell 1% quarter‑on‑quarter. The board has cleared a ₹16,000 crore capital raise via equity and debt, pending approvals. The bank’s LCR improved to 138.5%.

Bank of Baroda settled its NMC Health litigation with a $600 million (Rs 5,700 crore) payment, ending years of cross‑border legal battles. The deal, disclosed in an exchange filing, avoids further litigation costs and uncertainty, but knocked the bank’s shares more than 4% lower on the day.

The International Copper Association warns that rising GDP‑linked demand will require about 500,000 t of new refined copper capacity in India every five years. Even with upcoming secondary smelters adding 100,000 t, supply will lag a 1.8 Mt annual demand, pushing the industry toward significant investment.

OPEC+ has a preliminary agreement to raise quotas by 188,000 barrels per day in August, the first step toward undoing the output cuts imposed during the war. The increase, roughly 1% of global demand, comes after a tentative US‑Iran peace pact reopened the Strait of Hormuz and could reshape Asian oil markets.

India is moving ahead with its first strategic natural‑gas storage system, fast‑tracking feasibility studies on salt caverns, depleted fields and cryogenic tanks after the West Asia conflict exposed supply fragility. The plan aims to insulate power, industry and households from future LNG disruptions.