Airtel’s post-Mittal test, semaglutide halt, Hormuz energy threat

Dr Reddy’s announced a pause in commercial supply of its generic semaglutide after uncovering an out‑of‑specification issue with the active pharmaceutical ingredient. The news knocked the stock about 3.5% and forces the company to cut its FY27 supply outlook, though it assures no impact on patient safety or existing regulatory filings.

Airtel's founder Sunil Mittal still pilots strategy, but the telecom giant must embed systems and leadership that can run without him. The piece outlines new roles for Gopal Vittal and Shashwat Sharma and a roadmap for Bharti Telecom to increase its stake, signaling a crucial generational handoff.

In just over three months of FY27, the government raised more than ₹20 trn through seven offer‑for‑sale transactions, the biggest disinvestment cash flow since FY23. The pipeline remains robust, with LIC, PSU banks and other assets slated for future sales, bolstering finances as tax receipts dip.

Shipping lines have frozen new cargo bookings across the Persian Gulf after a fresh flare‑up in the Strait of Hormuz shattered the June cease‑fire. The pause threatens India's energy and LPG supply chain, already relying on West Asian imports for 20‑30% of crude and 90% of cooking gas, and could pressure commodity markets if it drags on.

India's Ministry of Statistics is weighing a new retail consumption survey that will capture point‑of‑sale data across every NIC‑coded outlet, from grocery aisles to pharmacies. By pairing this granular sales info with digital payment records, the government hopes to sharpen consumption estimates that feed into GDP and policy making.

The RBI has begun trimming a record $106.7 billion short‑dollar forward book it built to prop up the rupee. Unwinding too fast could spark volatility, while a slow roll‑off keeps costly exposure alive, leaving the currency vulnerable to external shocks.

The GST Law Panel cleared a proposal that would let buyers retain input tax credit even when their suppliers fail to remit GST, provided the invoice is reported and payment made through banking channels. Tax authorities would chase the defaulting supplier instead of clawing back the credit. This shields legitimate businesses from supplier defaults and could improve working‑capital certainty.

Former NITI Aayog member Ramesh Chand says the government should restrict wheat and rice purchases to public‑distribution needs and let private firms source the rest, while guaranteeing MSP through price‑differential payments via DBT. The shift would cut subsidy outlays, spur private‑sector value addition and raise farmer incomes.

In the fortnight to June 30, Indian banks saw credit grow 18.6%, a two‑year high, while deposits rose 12%, widening the credit‑deposit gap to 570 bps. Corporates are turning to banks because bond yields have climbed, signaling tighter debt‑market funding.

Australia will now supply uranium to India under a new civil nuclear agreement, while both sides adopt a joint defence declaration and maritime security roadmap. The move deepens their strategic partnership and signals a coordinated response to rising Indo‑Pacific tensions, affecting regional security and energy supply dynamics.

Key rabi crops, wheat, chana and barley, traded 3-8% under their MSPs, with maize slumping 24% below its support price. In contrast, mustard outperformed, selling 8% above MSP and later jumping 17% higher, signaling divergent market dynamics that could pressure food inflation.

NOAA now sees an 81% chance a very strong El Niño will develop by October‑December 2026, up from 63% in June. The forecast warns of wetter winters, flooding, dangerous surf in California and broader economic and ecosystem impacts, with the event likely persisting into early 2027.