Mint Podcast

Edelweiss Mutual Fund MD & CEO Radhika Gupta made a splash a few days ago when she said in a Mint interview (Watch here:    • Why Radhika Gupta Is Saving Up A 'Crazy' A...  ) that she was saving up a whopping Rs 10 crore for her son's education. Her son, Remy, is currently 2 years old. In this interview, we delve deeper into why she feels the need to save so much for this, how much does a good education (especially a foreign education) cost in today's age, and most importantly, how one can calculate how much you would need to save up for say, 15 years down the line if you want your child to have an education abroad. Radhika explains all these details - here's the math!#investing #studyabroad #education

Watch the full episode on YouTube- https://www.youtube.com/watch?v=Z_xXydtSR48

Are you confused about EPF interest rules after leaving your job? Many believe interest stops after 3 years of inactivity — but that’s a myth. In this video, Neil Borate from Mint and Ketan Das from FinRight explain the truth, backed by EPFO’s official releases. Know your rights and make informed decisions about your PF account. Watch!#epf #epfinterest #epfrulesWatch the full episode on YouTube- https://www.youtube.com/watch?v=StRkv7Ephk0

Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories.

Flat Start for Markets, All Eyes on RBI

Indian markets are bracing for a cautious open this Monday. Global cues are mixed—Japan’s Nikkei and Topix dipped, while US indices closed steady after clocking their best monthly gains since Nov 2023. Gift Nifty hints at a flat open.

The big domestic trigger? The RBI’s monetary policy decision on Friday, with markets pricing in a 25-bps rate cut. Investors will also track May auto sales, foreign fund flows, and the fallout from Trump’s move to double US steel tariffs to 50%.

India’s GDP grew 7.4% in Q4, even as FY25 growth slowed to 6.5%. GST collections stayed strong at ₹2 lakh crore+, and crude oil prices are heating up again.

“Stay diversified,” says PL Capital’s Vikram Kasat. “Macro resilience is intact, but global uncertainty looms.”

🛠️ US-India Metal Clash Intensifies

It’s steel vs steel. On May 9, India notified the WTO of its intent to hit back at US tariffs on metals. Washington’s response? “These aren’t safeguard tariffs—they’re national security measures.” With no scope for talks, the US doubled its steel and aluminium tariffs to 50% starting June 4.

India exported $4.56 billion worth of metal products to the US in FY25—now at risk. Retaliation could come via higher duties on US almonds, walnuts, and metals. A first-phase bilateral trade deal could still soften the blow—but for now, tensions are high.

“If the US won’t play ball, tariffs are coming,” say trade insiders.

💹 Rupee May Rise on Growth Surprise, Rate Cut Buzz

The Indian rupee could see a boost this week, helped by stronger-than-expected Q4 GDP and a widely anticipated RBI rate cut. Markets expect a 25-bps cut to 5.75%.

MUFG says inflation remains in check, with CPI forecast to stay below 4%, giving the central bank room to ease. Bond markets are already moving—5-year yields continue to outperform, showing “extreme bullish positioning,” according to IndiaBonds’ Vishal Goenka.

But globally, Trump’s tariff blitz and upcoming US jobs data could stir fresh volatility. The rupee is expected to hover between 84.80–86 in the near term.

⛏️ NMDC Bets ₹70,000 Cr on Mining Expansion

State-owned mining giant NMDC is going global and going big—with a ₹70,000 crore capex push over the next three years. CMD Amitava Mukherjee says the firm will explore 10 minerals including lithium, cobalt, and gold across Africa, Australia, Southeast Asia, and South America.

₹43,000 crore worth of projects are already in the pipeline, with another ₹30,000 crore to be cleared this fiscal. Domestically, NMDC is building slurry pipelines and expanding operations in Chhattisgarh and Andhra Pradesh.

The company is also setting up a new international subsidiary at GIFT City in Gujarat to anchor its global ventures. It aims to generate at least 10% of revenue from non-iron ore and overseas operations.

“We’re agnostic about the model,” says Mukherjee. “JVs, equity, acquisitions—everything’s on the table.”

☁️ Sovereign Cloud: India’s New Digital Gold Rush

India is going full steam ahead on digital self-reliance—and sovereign cloud services are at the heart of it. Tech giants like TCS and Google India are leading the race, with offerings that keep all data, processing, and infrastructure entirely within Indian borders.

TCS has launched its fully indigenous SovereignSecure Cloud, while Google is hosting sensitive workloads on its Google Distributed Cloud, featuring Gemini AI—all within India.

Early adopters like Ayushman Bharat, EPFO, Passport Seva, and UIDAI are setting the pace. Individual contracts may be modest at $2–5 million annually, but over the next five years, this could balloon into a multi-billion-dollar market.

“This isn’t about replacing global giants,” says a govt official. “But for ultra-sensitive data, sovereign is the future.”

Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories.

India’s Growth Engine Still Roaring, Says RBI

The Reserve Bank of India’s annual report is cautiously optimistic. It warns of global headwinds—rising input costs, protectionist trade policies, and tariff risks—but says India remains the fastest-growing major economy. Domestic demand, strong exports, and a thriving farm sector powered momentum in FY25. Inflation eased to a six-year low of 3.16% in April, raising expectations of a 25 bps repo rate cut in June.

Forex reserves are healthy, fiscal discipline is holding, and public capex continues to drive growth. On the radar: stress tests, cyber risk reviews, and climate risk evaluations for banks and NBFCs. A record ₹2.69 trillion surplus transfer to the Centre also boosted RBI’s balance sheet credibility.

Bottom line? Global chaos may persist, but India’s economic engine looks well-fueled and storm-ready.

Covid Creeps Back, But Experts Say: Stay Alert, Not Alarmed

With new Covid variants NB.1.8.1 and LF.7 emerging, and over 1,000 active cases reported across cities like Delhi and Bengaluru, India is reactivating its Covid response. A high-level panel is reviewing vaccine stocks, testing readiness, and hospital capacity.

Experts say the virus is currently mild. Hybrid immunity—vaccine plus natural infection—is widespread, and booster doses aren’t necessary for most. But vaccine makers are being urged to update formulations in case a new, more dangerous variant emerges.

Dr. Soumya Swaminathan and other health leaders advise vigilance over panic. WHO hasn’t flagged the variants as serious threats. For now, the focus is on monitoring—not mass vaccinations.

India, US Sprint to Seal Trade Deal Before Tariff Clock Expires

India and the US are racing to close a long-pending bilateral trade pact before a crucial 8 July deadline, when Trump-era reciprocal tariffs could make a comeback. American negotiators arrive in Delhi next week for what could be the final round.

India’s chief negotiator Rajesh Agarwal said this deal is a strategic play—not just about tariff relief. It covers agriculture, autos, digital trade, and market access, with potential to reframe global supply chains.

Even though a US court recently ruled Trump’s baseline tariffs illegal, India is pressing on, seeing the agreement as key to long-term trade stability and its $30 trillion economic ambition by 2047.

Sebi Tightens the Screws on F&O Market Risk

Come 1 July, Sebi is rolling out sweeping reforms in the equity derivatives market. The big change? A smarter, risk-sensitive metric called delta-adjusted open interest. This will offer a clearer view of traders’ exposure based on price movements of underlying assets.

Limits are being introduced—₹1,500 crore net exposure and ₹10,000 crore gross—for index options. For single-stock derivatives, Sebi is tying position limits to cash market liquidity starting October.

Retail traders lost ₹1.89 trillion in F&O bets between FY22 and FY24, prompting Sebi to act. With earlier steps like raising lot sizes and capping weekly expiries already in motion, the message is clear: the F&O free-for-all is ending. Trade smart—or step aside.

Trump’s Tariffs Get Court Stay—For Now

Donald Trump’s controversial “Liberation Day” tariffs live to see another day. A federal appeals court has temporarily allowed the former US president to keep imposing broad-based tariffs under emergency powers, despite a lower court ruling that declared them illegal.

The court cited national security concerns, giving the Trump team more time to fight the legal challenge. Critics argue the tariffs were arbitrary, hurting global trade and spooking markets.

White House adviser Peter Navarro insists the administration will push on—via courts or alternative methods. “It’s not over,” he said. “We have other tools.”

Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories.

1. Lokpal Clears Ex-SEBI Chief in Adani-Linked Allegations

India’s anti-corruption ombudsman, Lokpal, has dismissed all complaints against former SEBI chairperson Madhabi Puri Buch. The allegations—based on a Hindenburg Research report—claimed Buch and her husband held offshore stakes linked to the Adani Group. The Lokpal, led by Justice A.M. Khanwilkar, concluded the complaints were based on “presumptions and assumptions” with no verifiable evidence. Buch, who completed her SEBI tenure in February 2025, had strongly denied the claims. With Hindenburg itself shutting shop in January 2025, the watchdog ruled the report could not serve as grounds for a corruption probe.

2. SAIL Posts Q4 Growth, Announces Dividend

Steel Authority of India Ltd (SAIL) delivered a solid close to FY25, reporting an 11% rise in Q4 net profit to ₹1,251 crore. Revenue grew 4.8% year-on-year to ₹29,316 crore, with gains led by its IISCO and Alloy Steels plants. The Maharatna PSU announced a final dividend of ₹1.60 per share. SAIL stock, which has delivered a 325% return over five years, gained 13.5% year-to-date despite a 21% dip over the past year. With India’s infra buildout gaining momentum, SAIL hopes to carry the steel into coming quarters.

3. US Cracks Down on Global Censorship with Visa Ban

In a bold move defending free speech, US Secretary of State Marco Rubio has introduced visa restrictions targeting foreign nationals who attempt to censor expression within the US. The policy aims to block those who threaten legal action against US citizens for social media posts or pressure tech platforms to follow global censorship norms. Rubio didn’t name countries, but the message is clear: foreign governments trying to police American speech or platforms will now face consequences. “We will not tolerate encroachments on American sovereignty,” Rubio said.

4. TCS Dividend Dip Signals Strategic Shift?

Tata Sons has seen its dividend income from Tata Consultancy Services (TCS) drop for the first time since the IT major’s 2004 listing. In FY25, Tata Sons earned ₹32,718 crore—₹1,333 crore less than the previous year. While TCS’s revenue rose 3.8% to $30.18 billion and net profit by 2%, the payout ratio dipped to 93.9%, the lowest in six years. Analysts suspect the company is conserving cash for strategic investments in AI and tech. Adding to concerns, TCS skipped its usual annual salary hike, citing macro uncertainty.

5. Govt Hikes MSP, Extends Farm Loan Relief Ahead of Polls

With elections on the horizon, the Centre has hiked Minimum Support Prices (MSP) for 14 kharif crops, with tur dal seeing the steepest rise of ₹450 to ₹8,000 per quintal. The government also extended the Modified Interest Subvention Scheme into FY26, offering farmers loans up to ₹3 lakh at subsidized rates via Kisan Credit Cards. Critics, however, note that the 3% hike in paddy MSP is below inflation. The Cabinet also cleared ₹7,000 crore worth of infrastructure projects, including a major rail corridor in Andhra Pradesh—part of a ₹4.5 trillion push to boost connectivity and cut logistics costs.

Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories.

Tax Deadline Extended: More Time, More Disclosures

Taxpayers not requiring audits now have until 15 September to file returns for FY 2024-25. The CBDT extended the deadline from 31 July due to significant changes in ITR forms, which now require detailed disclosures on tax-saving investments, capital gains, TDS on non-salary income, and HRA. Experts call the move a relief amid increased compliance.Budget 2025-26 sweetened the deal for middle-class taxpayers, raising the no-tax threshold to ₹12 lakh, and simplifying TDS norms. Direct tax collections hit ₹22.26 trillion, a 13.57% jump, reinforcing India’s push toward a digital-first, transparent tax regime.

North-East India Bags ₹4.32 Trillion in Investments

India’s North-East is emerging as an economic powerhouse. At a recent investment summit, the region attracted ₹4.32 trillion in deals across agriculture, hydropower, IT, tourism, and bamboo. Union minister Jyotiraditya Scindia confirmed that each state is preparing tailored incentive packages and logistics policies.With Guwahati and Agartala poised to become international gateways, and 70% of the India-Myanmar-Thailand highway complete, the region’s 12–13% decadal growth rate is set to soar even higher. Described as India’s ‘Ashta Lakshmi’, the North-East is becoming central to trade, diplomacy, and inclusive growth.

Vodafone Idea Faces Financial Cliff as AGR Relief Denied

Vodafone Idea’s troubles deepen after the Supreme Court rejected its plea for AGR dues relief. Its survival now hinges on whether the ₹6,000 crore in bank guarantees it submitted to the government will be invoked.If the DoT calls in the guarantees, lenders like SBI and PNB will be on the hook—turning those into high-interest loans. With a ₹2 trillion debt pile and limited cash flow, analysts fear this could cripple the already fragile telecom sector.The telco has urged government intervention to avoid a market duopoly, especially since the Centre owns a 49% stake in the company. 

CEAT Reroutes US Expansion Amid Trump Tariff Threat

CEAT’s $225 million acquisition of Canadian brand Camso aimed to crack the US tyre market. But Donald Trump’s threat of 44% tariffs on Sri Lankan exports—where Camso manufactures—has thrown a wrench in the works.CEO Arnab Banerjee says the company will now shift US-bound production to India, though that too may face a 26% reciprocal tariff.Despite the uncertainty, CEAT’s stock is up 18% this year, as investors remain bullish on its global expansion. But with nearly one-third of Camso’s revenue coming from the US, analysts say the deal’s long-term value now hangs in the balance.

NMDC Mines Profit, But Faces Price Pressures

Mining major NMDC posted a solid 5% jump in Q4 profit to ₹1,483 crore, with annual net profits rising 17% to ₹6,539 crore, powered by strong iron ore and pellet sales. Revenue for FY25 crossed ₹25,000 crore.Chairman Amitava Mukherjee reiterated the company’s goal of hitting 100 MTPA production in five years, citing visible gains from ongoing initiatives.However, average iron ore prices dipped and JSW Steel—a major client—expects further softness. Despite that, NMDC announced a ₹1 per share dividend, adding to its earlier ₹2.30 payout.Eyes are now on how NMDC sustains growth amid falling ore prices and global demand shifts.

Learn how to recover your lost shares from the IEPF with this step-by-step guide. Ankit Garg of Garg Law Chambers explains key steps, documents needed, and how to deal with lost physical certificates or claim rejections. Watch!#shares #recovershares #lostshares #stockmarket #iepfa

Watch the full episode on YouTube-https://www.youtube.com/watch?v=U5IiX91FSes&t=2s

Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories.

1. IndiGo’s Gangwal Plans ₹6,831 Cr Stake Sale

In a major move, IndiGo co-founder Rakesh Gangwal and his family trust are set to sell up to ₹6,831 crore worth of shares in the airline through a block deal. The sale, expected to happen Tuesday, involves up to a 3.4% stake at a floor price of ₹5,175 per share. Gangwal and his trust together own nearly 13.5% of the company. With shares up 461% over five years and near 52-week highs, investors are watching closely—this could mark a strategic exit or just profit booking.

2. NSE vs BSE: Expiry Day Showdown Begins

Sebi’s new circular limiting equity derivative expiries to either Tuesday or Thursday has kicked off a turf war. NSE wants to shift its Nifty expiry to Tuesday—the very day BSE had claimed earlier for its Sensex contracts. If approved, NSE could see a 5% boost in market share, while BSE may have to move to Thursday or risk losing volumes. The final decision is due by June 15, but until then, it’s a race to lock in the more lucrative day.

3. Starlink Set to Launch in India at ₹850/month

Elon Musk’s satellite internet service, Starlink, is close to entering India after securing a Letter of Intent from the DoT. Plans may start at just ₹850 per month with unlimited data—among the cheapest globally. The goal? Ten million subscribers. But urban surcharges, spectrum charges, and licensing levies could raise prices. Even so, Starlink hopes to bridge India’s digital divide, particularly in rural areas with poor connectivity.

4. Leela Hotels Launches ₹3,500 Cr IPO

Luxury hotel chain Leela is making its market debut with a ₹3,500 crore IPO—the largest ever in India’s hospitality sector. Backed by Brookfield, the IPO is priced attractively but comes with baggage: ₹2,567 crore in debt. Most of the proceeds will go toward deleveraging. With new properties planned and EBITDA margins at 50%, Leela hopes to ride the luxury upcycle, though rivals like Taj and Oberoi still lead in occupancy and brand recall.

5. India Pushes US to Ease Fruit Import Rules

India is lobbying hard to get better market access for fruits like mangoes, pomegranates, and guavas under a proposed trade deal with the US. After 25 tonnes of mangoes were destroyed at US ports, India wants faster approvals and localized certification. Despite a 28% rise in exports to the US over two years, regulatory bottlenecks remain. Exporters say the deal could be a game-changer—but time, and cold storage, are running short

Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories.

Markets Cool Off After 4-Week Rally

After weeks of surging highs, Indian markets finally took a breather. The Sensex and Nifty slipped 0.7% each as foreign investors sold off in three out of four sessions. Sectors like realty and metals held up well, but autos, IT, and FMCG lagged. Midcaps dipped while smallcaps stayed afloat. Technical resistance at Nifty’s 25,200 level held firm, with support seen at 24,500. Analysts suggest a cautiously bullish stance, with Bank Nifty holding strong and poised for a breakout above 56,000. Traders are advised to focus on banking, metals, and energy, while keeping tight stop-losses amid high volatility.

India Becomes World’s 4th-Largest Economy

India has officially overtaken Japan to become the fourth-largest economy, with a GDP of $4.19 trillion, according to the IMF. “We are now bigger than Japan,” announced NITI Aayog CEO BVR Subrahmanyam. The data shows India is just behind Germany and could climb to third place within three years. The IMF projects India will grow at 6.2% in 2025 and 6.3% in 2026—making it the world’s fastest-growing major economy, powered by rural demand and resilient consumption despite global headwinds

Forex Reserves Slip Amid Gold Dip

India’s foreign exchange reserves fell by $4.9 billion to $685.7 billion, dragged down by a steep $5.1 billion drop in gold reserves. The fall comes weeks after hitting a 7-month high. Gold holdings dropped to $81.2 billion, likely due to easing geopolitical tensions and softer gold prices. Interestingly, foreign currency assets edged up by $280 million, showing relative dollar stability. With the rupee trading at ₹85.17 to the dollar, RBI’s reserve moves signal ongoing efforts to curb volatility and balance market swings.

LIC Smashes Guinness World Record

LIC made global headlines by issuing 588,107 life insurance policies in just 24 hours—earning it a Guinness World Record. The massive feat was achieved on January 20, 2025, with the help of 452,839 agents across India. Dubbed “Mad Million Day,” the initiative was the brainchild of CEO Siddhartha Mohanty, who motivated every agent to close at least one policy that day. LIC called it a reflection of their agents’ dedication and a milestone in customer outreach and productivity.

India’s Trade Talks Shift East After US, EU Deals

With trade agreements with the US and EU nearing conclusion, India is preparing to refocus on partners in Asia-Pacific—namely Japan, Australia, ASEAN, South Korea, Sri Lanka, and Peru. India-ASEAN FTA reviews are ongoing, and an upgrade to the Japan deal is under discussion. Meanwhile, India’s FTA with the UK, finalized in May, has already slashed tariffs on 99% of goods and aims to double bilateral trade to $100 billion by 2030. A US deal is expected before the 8 July tariff deadline, potentially shielding India from retaliatory trade measures. Once done, India will turn to its next wave of strategic trade alignments to strengthen its supply chains and global reach.

NRIs in UAE, Singapore, or Mauritius can legally avoid tax on Indian mutual fund gains due to DTAA benefits. In this video, Mint’s Neil Borate explains the TRC, Form 10-F, and refund process in detail. Learn how to claim your exemption and get your TDS back with proper documentation. Watch till the end for tips!Watch the full episode on YouTube-https://www.youtube.com/watch?v=9_zZ5enhSfw&t=37s