Among the top stories today is the Air India crash probe taking a turn, with the aircraft's black box likely headed abroad for data recovery. Meanwhile, the NSE has announced a revamp of SME IPO rules starting next month.
On the IPO front, Kalpataru has set the price band for its Rs 1,590-crore issue, and LG is planning to revive the listing of its India unit.
In global headlines, US President Donald Trump tore into Fed Chair Jerome Powell after another policy hold. Back home, Siemens Energy made a strong stock market debut, Trent earned analyst praise, and Karnataka is working on a new crowd-control law after the recent stampede.
Here's a quick roundup of today's key headlines:
Air India Crash: Black Box Damaged, May Be Sent To US
The black box of Air India's Boeing 787 that crashed in Ahmedabad has sustained damage and may be sent to the US for data extraction, sources told NDTV. The government will make a final call, and Indian officials are expected to accompany the device if it's flown to the National Transportation Safety Board in Washington DC.
New SME IPO Rules To Kick In From July 1
The NSE will roll out a new bidding process for SME IPOs starting July 1. Dual systems will remain in place till July 11 for issues spilling over from June. The changes aim to streamline participation in the SME segment and standardise listing procedures.
Kalpataru and LG India IPO Latest Updates
Kalpataru Ltd. has fixed its IPO price band at Rs 387–414 per share. The Rs 1,590-crore issue opens June 24 and includes only a fresh issue. Meanwhile, LG Electronics may revive its India unit's IPO by September, refiling after updated financials.
Trump Calls Powell ‘Worst', Slams Fed After Policy Hold
US President Donald Trump attacked Fed Chair Jerome Powell on social media, calling him a “real dummy” after the central bank kept rates steady. The Fed also lowered its growth forecast and raised its inflation view, while signalling two rate cuts this year.
Siemens Energy Lists After Demerger, Hits Upper Circuit
Siemens Energy India debuted at Rs 2,840 on the NSE and BSE, hitting the upper circuit at Rs 2,982 soon after. The listing follows its demerger from Siemens Ltd. Shareholders received 1:1 shares in the energy entity, which offers solutions across the power and gas value chain.
Trent Gets Street Support On Long-Term Growth Plan
Trent Ltd. expects 25% revenue growth over the next five to 10 years, according to its latest investor update. Macquarie and Morgan Stanley have maintained their bullish views. The company plans to expand store reach and optimise same-store layouts to drive performance.
Karnataka Drafts Crowd Control Bill After Stampede
Weeks after the Bengaluru stampede, the Karnataka cabinet has proposed a new Crowd Control Bill. The draft includes penalties of up to three years in jail and Rs 5,000 fine for violations. It aims to improve safety protocols during large public gatherings.
Markets Extend Losses For Third Straight Day
Indian benchmarks fell for the third session in a row. The Nifty 50 closed 0.08% lower at 24,793.25, while the Sensex slipped 82.79 points to 81,361.87. Adani Ports and Bajaj Finance led the drag, even as intraday volatility remained limited.
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