Shares of Mumbai-based real estate developer Kalpataru Ltd. are trading at a grey market premium (GMP) of ₹9, or 2.17%, ahead of the company’s initial public offering (IPO), set to open on Tuesday, June 24. The modest markup in the unofficial market offers an early indication of investor sentiment, while also highlighting restrained expectations amid a cautious IPO landscape in India.
BYD $BYDDY Cars Philippines, distributed by ACMobility, has introduced the Sealion 5 DM-i, its newest and most cost-efficient plug-in hybrid crossover. As part of the growing DM-i series, the vehicle reflects BYD’s continued strategy to provide electrified mobility to a wider consumer base, with specific focus on affordability in emerging markets like the Philippines.
The aviation industry has witnessed dramatic shifts in recent years, marked by airline bankruptcies, mergers, and fluctuating passenger preferences. One notable case is Qantas $QAN.AX, Australia’s flag carrier, which has rebounded from its worst performance and landed itself among the world's top airlines.
On June 17, 2025, shares of Bajaj Finance Ltd. $BAJFINANCE.NS registered a dramatic price correction of over 90%. The move was purely mechanical, triggered by the execution of two corporate actions: a 4:1 bonus issue and a 1:2 stock split. The adjustments, taken together, increased the total number of outstanding shares tenfold, proportionally reducing the stock’s face value. Despite the sharp decline in per-share price, the company’s market capitalization and shareholder value remained unchanged. The temporary gap between adjusted market prices and uncredited bonus shares in demat accounts caused short-lived confusion.
BP plc $BP shares rose 3% today, closely tracking the rally in Brent crude, which climbed above $74 USD per barrel after Israeli strikes on Iranian military infrastructure. This marks a 20% increase in Brent from early-month levels near $60, driven by renewed supply fears. BP’s intraday gain positions it among the strongest FTSE 100 $^FTSE performers, second only to BAE Systems $BAESY. The movement reflects the stock’s historical correlation with oil prices and renewed risk appetite for commodity-linked equities.
Advent International has submitted a conditional acquisition proposal for Spectris Plc $SXS.L, a leading UK-based producer of precision instrumentation and test software, valuing the company at £3.7 billion (USD 5 billion). The offer, disclosed Monday, prices Spectris shares at £37.63 each, representing an 85% premium to the prior Friday’s closing level.
Walmart Inc. $WMT, the largest global retailer, is enhancing its delivery capabilities by introducing drone services in five additional urban locations: Charlotte, North Carolina; Tampa, Florida; Atlanta; Houston; and Orlando. This strategic move aims to boost online sales and improve delivery speed, building upon existing infrastructure in Northwest Arkansas and Dallas-Fort Worth. Walmart's initiative is ground-breaking as it marks the first large-scale drone deployment across five U.S. states.
Virgin Australia, managed by Bain Capital $BCSF, is set to stage a comeback on the Australian Securities Exchange with an initial public offering valued at AUD 685 million (USD 443 million). Bain Capital expects to sell 30% of the company at a price of AUD 2.90 per share, implying a market capitalization close to AUD 2.3 billion. Trading is scheduled to begin in Sydney on June 24, positioning this IPO as the most significant aviation float in Asia over the past decade.
Nordic Capital, a major player in European private equity, has announced the postponement of its initial public offering for Noba Bank Group AB. The move follows heightened volatility in global equity markets, significantly impacting the timing of new stock listings. Despite robust fundamentals in consumer finance, unfavorable market dynamics prompted the delay.
Tesla Inc. $TSLA has reached a defining moment in its transformation strategy with the upcoming introduction of its robotaxi service in Austin, scheduled for June 12. This pivotal launch forms a central component of Elon Musk’s vision to reposition Tesla as a technology-driven innovator, focusing heavily on driverless vehicles and advanced AI solutions. The rollout underscores Tesla’s commitment to developing scalable, commercially viable autonomous transportation.
The Bank of Nova Scotia $BNS released second quarter results that fell short of analyst projections, as heightened allocations to cover impaired loans weighed on profits. Adjusted earnings landed at 1.52 CAD per share, below the average forecast of 1.56 CAD. The higher provisions reflect rising credit concerns linked to persistent economic headwinds in Canada and tariff-related impacts in both domestic and Mexican markets.
Nvidia $NVDA and a consortium of Sweden’s most prominent business groups, spearheaded by the influential Wallenberg family, have entered into a landmark partnership to build advanced artificial intelligence infrastructure in Sweden. This strategic alliance positions the Nordic nation at the forefront of European AI innovation by pooling technological resources and industrial capabilities.
