SpaceX to list today on the Nasdaq under the ticker symbol "SPCX" - marking the largest IPO in history at $75 billion (the company is launching at a price of $135 per share, commanding MCAP of $1.7 trillion). This debut instantly positions SpaceX as the seventh-largest company in the US.
The IPO represents a monumental windfall for long-term investors who were early backers of the Elon Musk-led startup.
Here's a list of some of them
# Ron Baron of Baron Capital - After investing $2 billion across 27 rounds starting at a $22 billion valuation in 2017, Baron’s stake is now worth nearly $12 billion. SpaceX currently accounts for 33% of the Baron Partners Fund and 23% of the Baron Asset Fund.
# Founders Fund By Peter Thiel - An early investor since 2008, the fund has turned a $600 million investment into a stake worth over $50 billion, representing a staggering 62,000% return on early capital.
# Alphabet - The Google-parent had made a $900 million investment during a Series F round in 2015. Today, that stake is worth $106 billion, which represents nearly 1-2% of Alphabet's MCAP. The investment is often referred to as Alphabet's "Hidden Asset".
# Fidelity Investments - A major participant across multiple rounds, including leading the 2020 Series I round, SpaceX now represents significant holdings in the Fidelity Contrafund (4.7%), BlueChip Fund (3.3%), and Growth Company Fund (2.6%). All of these funds manage anywhere between $100 billion to $150 billion in assets.
# Andressen Horowitz - The firm had led a Series J funding round in January 2023 at a valuation of $137 billion. In the next three years, that stake is now swelled 12x in value, in-line with the valuation expansion.
# ARK Invest - Cathie Wood's firm was also one of SpaceX's backers, having started investments since late-2023. SpaceX is now the largest holding in the ARK Venture Fund at 17.02%. Since the initial investment, the valuations of SpaceX have gone up by 730%.
# Ontario Teachers Pension Plan - Having invested around $200 million in 2019 through its latest investment vehicle, Ontario Teachers' Pension Plan is now sitting on a $11.6 billion windfall, and the SpaceX investment comprises nearly 4% of its $279 billion AUM.
# Washington University - The first investment made by them was over a decade ago in 2016-17 and was worth $50 million. Today, that investment is over 10% of the total endowment of around $17 billion, making it among the largest concentrated positions for any university.
Before the stock begins to trade, brokerages such as Oppenheimer have initiated coverage on SpaceX with an "outperform" rating and a price target of $190 over the next 12-18 months, stating that the company's diversified portfolio makes it attractive for investors.
New Street Research has also initiated coverage on SpaceX with a target of $165, stating that it views xAI as a $575 billion business.
* With the SpaceX Listing, Elon Musk will become the first trillionaire on the planet. His stake in SpaceX is worth $866.5 billion, along with Tesla's stake which is worth $320 billion. Musk also controls 82% of the voting power at SpaceX.
The IPO represents a monumental windfall for long-term investors who were early backers of the Elon Musk-led startup.
Here's a list of some of them
# Ron Baron of Baron Capital - After investing $2 billion across 27 rounds starting at a $22 billion valuation in 2017, Baron’s stake is now worth nearly $12 billion. SpaceX currently accounts for 33% of the Baron Partners Fund and 23% of the Baron Asset Fund.
# Founders Fund By Peter Thiel - An early investor since 2008, the fund has turned a $600 million investment into a stake worth over $50 billion, representing a staggering 62,000% return on early capital.
# Alphabet - The Google-parent had made a $900 million investment during a Series F round in 2015. Today, that stake is worth $106 billion, which represents nearly 1-2% of Alphabet's MCAP. The investment is often referred to as Alphabet's "Hidden Asset".
# Fidelity Investments - A major participant across multiple rounds, including leading the 2020 Series I round, SpaceX now represents significant holdings in the Fidelity Contrafund (4.7%), BlueChip Fund (3.3%), and Growth Company Fund (2.6%). All of these funds manage anywhere between $100 billion to $150 billion in assets.
# Andressen Horowitz - The firm had led a Series J funding round in January 2023 at a valuation of $137 billion. In the next three years, that stake is now swelled 12x in value, in-line with the valuation expansion.
# ARK Invest - Cathie Wood's firm was also one of SpaceX's backers, having started investments since late-2023. SpaceX is now the largest holding in the ARK Venture Fund at 17.02%. Since the initial investment, the valuations of SpaceX have gone up by 730%.
# Ontario Teachers Pension Plan - Having invested around $200 million in 2019 through its latest investment vehicle, Ontario Teachers' Pension Plan is now sitting on a $11.6 billion windfall, and the SpaceX investment comprises nearly 4% of its $279 billion AUM.
# Washington University - The first investment made by them was over a decade ago in 2016-17 and was worth $50 million. Today, that investment is over 10% of the total endowment of around $17 billion, making it among the largest concentrated positions for any university.
Before the stock begins to trade, brokerages such as Oppenheimer have initiated coverage on SpaceX with an "outperform" rating and a price target of $190 over the next 12-18 months, stating that the company's diversified portfolio makes it attractive for investors.
New Street Research has also initiated coverage on SpaceX with a target of $165, stating that it views xAI as a $575 billion business.
* With the SpaceX Listing, Elon Musk will become the first trillionaire on the planet. His stake in SpaceX is worth $866.5 billion, along with Tesla's stake which is worth $320 billion. Musk also controls 82% of the voting power at SpaceX.
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🌹🇮🇳India Daybook – Stocks in News
EMS: Company emerged as L1 Bidder for ₹105.82 crore sewerage project. (Positive)
ONGC, Oil India: Crude Oil Extends Rally as U.S. President Trump imposes Blockade. (Positive)
Welspun Enterprises: Company has signed agreement for a Rs. 7,300 crore Pune-Shirur highway project. (Positive)
RPG Life: Company has partnered with Archerchem Healthcare to launch a Naproxen and Esomeprazole combination therapy in India. (Positive)
Aastha Spintex: Company has secured orders worth around Rs 77 crore from various entities, highlighting strong demand momentum for the company. (Positive)
Zensar Technologies: HRTI Pvt Ltd bought 1.05 lakh shares at Rs 532.57 per share. (Positive)
Indian Hume Pipe: Remcom Sales Services bought 3.45 lakh shares at Rs 394.43 per share. (Positive)
NHPC: Two of the three 170 MW units at the 510 MW Teesta-V Power Station in Sikkim resumed commercial operations after grid synchronisation. (Positive)
Hariom Pipe: Company has received proceedings from the Tamil Nadu Pollution Control Board (TNPCB) on July 13, 2026, suspending the earlier closure order & restoring power supply to its Perundurai unit. (Positive)
Carraro India: Company gets a rating update from India Ratings (Fitch Group), with the outlook upgraded to ‘Positive’ from ‘Stable’ while retaining its long-term rating at ‘IND A+’. (Positive)
Timken: Company becomes the first company in India to secure BIS licenses for both CRB and TRB rollers across multiple plant. (Positive)
H.G. Infra Engineering: Company has emerged as the L-1 bidder for a Rs. 241 crore project from the Department of Skill, Employment & Entrepreneurship, Government of Rajasthan (Positive)
Blue Cloud Softech Solutions: Company's subsidiary has signed a five-year Master Services Agreement (MSA) with SpaceX International to provide AI services. (Positive)
PDS Limited: Company has entered into a multi-year Sourcing as a Service (SaaS) partnership with the global sourcing arm of a leading French-headquartered global supermarket to manage the retailer's textile sourcing operations across five countries. (Positive)
Emcure Pharma: Company said to acquire the remaining 12.05% stake in its subsidiary Gennova Biopharmaceuticals Ltd for ₹231.87 crore. (Positive)
BEL: Company has received additional orders worth ₹572 crore since its previous disclosure. (Positive)
Captain Polyplast: Company has received order worth Rs. 23.6 Crore from Maharashtra State Electricity Distribution Limited for 1000 SPWPS. (Positive)
Roto Pumps: Construction completed for the first phase of the factory building at Plot No. C-008, Sector 145, Noida. (Positive)
ITC Hotels: Company signed a management agreement for the 117-key Welcomhotel Dehradun Selaqui with Orions Hospitality. (Positive)
Route Mobile: Subsidiary Route Connect will acquire Heltar Technologies' AI-led omnichannel business for up to ₹33.7 Cr (Positive)
Nuvoco: Revenue Rs 3128 Cr vs Rs 2872 Cr, Net Profit at Rs 159.6 Cr vs Rs 133.6 Cr YoY. (Positive)
Grasim: Aditya Birla Renewables to acquire Sprng Energy Platform from Shell in $1.8 billion renewable energy deal. (Neutral)
Container Corp: Company has reported an 8.89% year-on-year increase in container volumes for the quarter ended June, driven by growth in both export-import (EXIM) and domestic cargo.. (Neutral)
HCL Technologies: Q1 FY27 Consolidated Net Profit at Rs. 4,624 crore vs Rs. 4,488 crore QoQ. Revenue at Rs. 34,579 crore vs Rs. 33,981 crore QoQ. (Neutral)
ICICI Prudential Asset Management: Q1 FY27 Standalone Net Profit at Rs. 965 crore vs Rs. 784 crore YoY. Revenue at Rs. 1,564 crore vs Rs. 1,330 crore YoY. (Neutral)
Asian Paints: Company stated that the recent escalation in West Asia has created significant inflationary pressure on raw material costs. To mitigate the impact, it has implemented measured price increases of around 1–2%. (Neutral)
EMS: Company emerged as L1 Bidder for ₹105.82 crore sewerage project. (Positive)
ONGC, Oil India: Crude Oil Extends Rally as U.S. President Trump imposes Blockade. (Positive)
Welspun Enterprises: Company has signed agreement for a Rs. 7,300 crore Pune-Shirur highway project. (Positive)
RPG Life: Company has partnered with Archerchem Healthcare to launch a Naproxen and Esomeprazole combination therapy in India. (Positive)
Aastha Spintex: Company has secured orders worth around Rs 77 crore from various entities, highlighting strong demand momentum for the company. (Positive)
Zensar Technologies: HRTI Pvt Ltd bought 1.05 lakh shares at Rs 532.57 per share. (Positive)
Indian Hume Pipe: Remcom Sales Services bought 3.45 lakh shares at Rs 394.43 per share. (Positive)
NHPC: Two of the three 170 MW units at the 510 MW Teesta-V Power Station in Sikkim resumed commercial operations after grid synchronisation. (Positive)
Hariom Pipe: Company has received proceedings from the Tamil Nadu Pollution Control Board (TNPCB) on July 13, 2026, suspending the earlier closure order & restoring power supply to its Perundurai unit. (Positive)
Carraro India: Company gets a rating update from India Ratings (Fitch Group), with the outlook upgraded to ‘Positive’ from ‘Stable’ while retaining its long-term rating at ‘IND A+’. (Positive)
Timken: Company becomes the first company in India to secure BIS licenses for both CRB and TRB rollers across multiple plant. (Positive)
H.G. Infra Engineering: Company has emerged as the L-1 bidder for a Rs. 241 crore project from the Department of Skill, Employment & Entrepreneurship, Government of Rajasthan (Positive)
Blue Cloud Softech Solutions: Company's subsidiary has signed a five-year Master Services Agreement (MSA) with SpaceX International to provide AI services. (Positive)
PDS Limited: Company has entered into a multi-year Sourcing as a Service (SaaS) partnership with the global sourcing arm of a leading French-headquartered global supermarket to manage the retailer's textile sourcing operations across five countries. (Positive)
Emcure Pharma: Company said to acquire the remaining 12.05% stake in its subsidiary Gennova Biopharmaceuticals Ltd for ₹231.87 crore. (Positive)
BEL: Company has received additional orders worth ₹572 crore since its previous disclosure. (Positive)
Captain Polyplast: Company has received order worth Rs. 23.6 Crore from Maharashtra State Electricity Distribution Limited for 1000 SPWPS. (Positive)
Roto Pumps: Construction completed for the first phase of the factory building at Plot No. C-008, Sector 145, Noida. (Positive)
ITC Hotels: Company signed a management agreement for the 117-key Welcomhotel Dehradun Selaqui with Orions Hospitality. (Positive)
Route Mobile: Subsidiary Route Connect will acquire Heltar Technologies' AI-led omnichannel business for up to ₹33.7 Cr (Positive)
Nuvoco: Revenue Rs 3128 Cr vs Rs 2872 Cr, Net Profit at Rs 159.6 Cr vs Rs 133.6 Cr YoY. (Positive)
Grasim: Aditya Birla Renewables to acquire Sprng Energy Platform from Shell in $1.8 billion renewable energy deal. (Neutral)
Container Corp: Company has reported an 8.89% year-on-year increase in container volumes for the quarter ended June, driven by growth in both export-import (EXIM) and domestic cargo.. (Neutral)
HCL Technologies: Q1 FY27 Consolidated Net Profit at Rs. 4,624 crore vs Rs. 4,488 crore QoQ. Revenue at Rs. 34,579 crore vs Rs. 33,981 crore QoQ. (Neutral)
ICICI Prudential Asset Management: Q1 FY27 Standalone Net Profit at Rs. 965 crore vs Rs. 784 crore YoY. Revenue at Rs. 1,564 crore vs Rs. 1,330 crore YoY. (Neutral)
Asian Paints: Company stated that the recent escalation in West Asia has created significant inflationary pressure on raw material costs. To mitigate the impact, it has implemented measured price increases of around 1–2%. (Neutral)
IFGL Refractories: Company has incorporated its wholly owned subsidiary, IFGL Monocon Saudi Company Ltd, in Saudi Arabia to undertake the trading of refractories and related products and services. (Neutral)
KPT Industries: CARE Ratings has reaffirmed the company's CARE BBB (Stable) long-term rating and CARE A3+ short-term rating. (Neutral)
RDB Real Estate: Company has incorporated a Special Purpose Vehicle (SPV), Ashoka-RDB Infrastructure & Development Pvt. Ltd., for the development of a Gems & Jewellery Park in Raipur, Chhattisgarh, under the Public-Private Partnership (PPP) model. (Neutral)
Mercantile Ventures: Company has fixed July 24, 2026 as the record date for the amalgamation scheme with India Radiators Ltd. (Neutral)
Neuland Laboratories: India Ratings has reaffirmed the company's bank facility ratings at IND A+/Positive / IND A1 (Neutral)
Poonawalla: Finance Committee has approved the issuance of secured, redeemable, rated, listed, non-convertible debentures (NCDs) worth up to ₹500 crore. (Neutral)
Biocon: Media sources Say That Mylan Likely to Sell Its Entire 5.64% Stake In Co Via Block Deals (Neutral)
PC Jeweller: Board meeting scheduled for July 16, 2026 to consider raising funds via Qualified Institutions Placement (QIP). (Neutral)
Pondy Oxides: Fixed July 21, 2026 as the record date for the stock split. (Neutral)
Jaykay Enterprises: Board approved fundraising of up to Rs 155 crore through a rights issue of partly paid-up equity shares. (Neutral)
Sun Pharma Advanced Research Company: Company has appointed Anil Raghavan as Managing Director and CEO with effect from Aug. 11, 2026 (Neutral)
Uno Minda: GST appellate authority remanded the company's appeal against a GST demand, interest and penalty order of Rs 1.72 crore. (Neutral)
Samman Capital: NCLT allowed clarifications on the Sammaan Finserve-Sammaan Capital scheme of arrangement on July 10, 2026. (Neutral)
Zee Entertainment: RBI approved redemption of FCCBs worth $23.9 million and cancellation of the remaining $215.1 million FCCB commitment. (Neutral)
Energy Infrastructure Trust: HDFC Sec sold 44.75 lakh shares at Rs 79.80 per share. (Neutral)
Fino Payments Bank: Agreya Capital sold 5.77 lakh shares at Rs 154.20 per share. (Neutral)
Kalyan Jewellers: HRTI Pvt Ltd sold 1.87 lakh shares at Rs 509.56 per share. (Neutral)
Knack Packaging: Yuga Stocks sold 7 lakh shares at Rs 213.11 per share. (Neutral)
HDFC Bank: Reduced headcount by 3,343 employees during FY26, even as its balance sheet expanded 12 per cent, according to a PTI report. (Neutral)
List of stocks included in the short term ASM Framework: Shankara Buildpro. (Neutral)
List of stocks excluded from ASM Framework: Bharat Seats, CarTrade, GRM Overseas, Vedanta Oil and Gas. (Neutral)
KPT Industries: CARE Ratings has reaffirmed the company's CARE BBB (Stable) long-term rating and CARE A3+ short-term rating. (Neutral)
RDB Real Estate: Company has incorporated a Special Purpose Vehicle (SPV), Ashoka-RDB Infrastructure & Development Pvt. Ltd., for the development of a Gems & Jewellery Park in Raipur, Chhattisgarh, under the Public-Private Partnership (PPP) model. (Neutral)
Mercantile Ventures: Company has fixed July 24, 2026 as the record date for the amalgamation scheme with India Radiators Ltd. (Neutral)
Neuland Laboratories: India Ratings has reaffirmed the company's bank facility ratings at IND A+/Positive / IND A1 (Neutral)
Poonawalla: Finance Committee has approved the issuance of secured, redeemable, rated, listed, non-convertible debentures (NCDs) worth up to ₹500 crore. (Neutral)
Biocon: Media sources Say That Mylan Likely to Sell Its Entire 5.64% Stake In Co Via Block Deals (Neutral)
PC Jeweller: Board meeting scheduled for July 16, 2026 to consider raising funds via Qualified Institutions Placement (QIP). (Neutral)
Pondy Oxides: Fixed July 21, 2026 as the record date for the stock split. (Neutral)
Jaykay Enterprises: Board approved fundraising of up to Rs 155 crore through a rights issue of partly paid-up equity shares. (Neutral)
Sun Pharma Advanced Research Company: Company has appointed Anil Raghavan as Managing Director and CEO with effect from Aug. 11, 2026 (Neutral)
Uno Minda: GST appellate authority remanded the company's appeal against a GST demand, interest and penalty order of Rs 1.72 crore. (Neutral)
Samman Capital: NCLT allowed clarifications on the Sammaan Finserve-Sammaan Capital scheme of arrangement on July 10, 2026. (Neutral)
Zee Entertainment: RBI approved redemption of FCCBs worth $23.9 million and cancellation of the remaining $215.1 million FCCB commitment. (Neutral)
Energy Infrastructure Trust: HDFC Sec sold 44.75 lakh shares at Rs 79.80 per share. (Neutral)
Fino Payments Bank: Agreya Capital sold 5.77 lakh shares at Rs 154.20 per share. (Neutral)
Kalyan Jewellers: HRTI Pvt Ltd sold 1.87 lakh shares at Rs 509.56 per share. (Neutral)
Knack Packaging: Yuga Stocks sold 7 lakh shares at Rs 213.11 per share. (Neutral)
HDFC Bank: Reduced headcount by 3,343 employees during FY26, even as its balance sheet expanded 12 per cent, according to a PTI report. (Neutral)
List of stocks included in the short term ASM Framework: Shankara Buildpro. (Neutral)
List of stocks excluded from ASM Framework: Bharat Seats, CarTrade, GRM Overseas, Vedanta Oil and Gas. (Neutral)
GIFT NIFTY -209 (24040) from last trade 24249
Nikkei +22 pts ,
Hangseng -32 pts ,
Dow -138.37 pts ,Nsdq -408.42 pts, S&P -60.05 pts , Bovespa -2127 pts , Ftse +1 pts , Dax +47 pts , Cac +12 pts , Crude @ $79.85 brl (+1.71) Brent @ $85.02 brl (+1.72) , Gold @ 4011.60 (+5.90), Silver @ $57.855 (-0.11), Euro @ $1.1387 , JPY @ $162.31 , INR @ 95.625
Today's Corporate Action
14-07-26 Ex Date
ABREL
Final Dividend - Rs. - 2.5000
AEROFLEX
Final Dividend - Rs. - 0.4000
BIMETAL
Dividend - Rs. - 13.5000
HESTERBIO
Final Dividend - Rs. - 11.0000
KHAICHEM
Final Dividend - Rs. - 0.0500
MODISONLTD
Final Dividend - Rs. - 3.0000
MOTHERSON
Final Dividend - Rs. - 0.2500
MSUMI
Final Dividend - Rs. - 0.5800
PIXTRANS
Final Dividend - Rs. - 9.0000
SPLPETRO
Final Dividend - Rs. - 8.0000
ULTRAMAR
Final Dividend - Rs. - 6.0000
UTIAMC
Final Dividend - Rs. - 40.0000
Today's Board Meetings
14-Jul-26
A2ZINFRA
Audited Results;Quarterly Results
ARSSBL
Quarterly Results
BALLARPUR
General
BENARAS
General;Quarterly Results
BIRLAMONEY
Quarterly Results
DAIKAFFI
Audited Results;General
DBOL
Interim Dividend;General;Quarterly Results
DEN
Quarterly Results
HATHWAYB
Quarterly Results
INFOMEDIA
Quarterly Results
JINDALSAW
Quarterly Results
LTTS
Quarterly Results
MAGNUS
Right Issue of Equity Shares;General
MAHANIN
Issue Of Warrants;General;Preferential Issue of shares
MANAKCOAT
A.G.M.;Quarterly Results
MUFIN
General
NYSSACORP
General
ORGCOAT
General
REGENCY
General
ROSEMER
Employees Stock Option Plan;Issue Of Warrants;General;Preferential Issue of shares
SEL
Quarterly Results
SGFIN
General;Quarterly Results
SULABEN
General;Quarterly Results
TATAELXSI
Quarterly Results
TRIOMERC
General;Quarterly Results
VIJIFIN
General;Quarterly Results
Stock under F&O ban on NSE
14-Jul-26
1 KAYNES
Nikkei +22 pts ,
Hangseng -32 pts ,
Dow -138.37 pts ,Nsdq -408.42 pts, S&P -60.05 pts , Bovespa -2127 pts , Ftse +1 pts , Dax +47 pts , Cac +12 pts , Crude @ $79.85 brl (+1.71) Brent @ $85.02 brl (+1.72) , Gold @ 4011.60 (+5.90), Silver @ $57.855 (-0.11), Euro @ $1.1387 , JPY @ $162.31 , INR @ 95.625
Today's Corporate Action
14-07-26 Ex Date
ABREL
Final Dividend - Rs. - 2.5000
AEROFLEX
Final Dividend - Rs. - 0.4000
BIMETAL
Dividend - Rs. - 13.5000
HESTERBIO
Final Dividend - Rs. - 11.0000
KHAICHEM
Final Dividend - Rs. - 0.0500
MODISONLTD
Final Dividend - Rs. - 3.0000
MOTHERSON
Final Dividend - Rs. - 0.2500
MSUMI
Final Dividend - Rs. - 0.5800
PIXTRANS
Final Dividend - Rs. - 9.0000
SPLPETRO
Final Dividend - Rs. - 8.0000
ULTRAMAR
Final Dividend - Rs. - 6.0000
UTIAMC
Final Dividend - Rs. - 40.0000
Today's Board Meetings
14-Jul-26
A2ZINFRA
Audited Results;Quarterly Results
ARSSBL
Quarterly Results
BALLARPUR
General
BENARAS
General;Quarterly Results
BIRLAMONEY
Quarterly Results
DAIKAFFI
Audited Results;General
DBOL
Interim Dividend;General;Quarterly Results
DEN
Quarterly Results
HATHWAYB
Quarterly Results
INFOMEDIA
Quarterly Results
JINDALSAW
Quarterly Results
LTTS
Quarterly Results
MAGNUS
Right Issue of Equity Shares;General
MAHANIN
Issue Of Warrants;General;Preferential Issue of shares
MANAKCOAT
A.G.M.;Quarterly Results
MUFIN
General
NYSSACORP
General
ORGCOAT
General
REGENCY
General
ROSEMER
Employees Stock Option Plan;Issue Of Warrants;General;Preferential Issue of shares
SEL
Quarterly Results
SGFIN
General;Quarterly Results
SULABEN
General;Quarterly Results
TATAELXSI
Quarterly Results
TRIOMERC
General;Quarterly Results
VIJIFIN
General;Quarterly Results
Stock under F&O ban on NSE
14-Jul-26
1 KAYNES
Forwarded from Aapka Saarthi @STOCKARTHi Make Money Work For You !!! (۞ A X i T D S H A H ۞)
Forwarded from Aapka Saarthi @STOCKARTHi Make Money Work For You !!! (۞ A X i T D S H A H ۞)
JPMorgan in Talks With 100 Multinationals for India Finance Hub
By Saikat Das and Siddhi Nayak, Bloomberg
July 17, 2026 at 9:30 AM GMT+8
- More than 100 companies have approached JPMorgan Chase & Co. to explore banking and payment solutions for corporate treasury operations in India's GIFT City.
- Clients approaching the bank include insurance companies and fintech firms, in addition to multinational firms, according to Guhaprasath Rajagopal, managing director and head of payments at JPMorgan India.
- The expansion in GIFT City is creating opportunities for banks to provide liquidity-management services, including physical pooling, cash concentration and notional pooling, said Rajagopal.
More than 100 companies have approached JPMorgan Chase & Co. to explore banking and payment solutions for corporate treasury operations in India’s GIFT City over the next 12 to 18 months, highlighting growing interest from multinational firms in the country’s financial hub.
“We haven’t seen anything like this before,” Guhaprasath Rajagopal, managing director and head of payments at JPMorgan India said in an interview. “Treasury centers are a major theme for GIFT City, and the ability to offer foreign-currency accounts alongside rupee capabilities provides an additional tailwind.”
Clients approaching the Wall Street bank also include insurance companies and fintech firms, he said.
The Gujarat International Finance Tec-City, known as GIFT City, is an initiative of Prime Minister Narendra Modi to position it as a global financial hub to rival Dubai or Hong Kong. The zone offers exemptions from certain taxes and regulatory restrictions, making it more attractive for international capital raising.
Banking assets in the hub based in Modi’s home state doubled to more than $100 billion as of September compared with two years earlier. The interest is being driven by incentives, including a 20-year tax holiday that came into effect in April.
Guhaprasath RajagopalSource: JPMorgan
There are 10 corporate treasury centers already operational in GIFT City. Those include AMNS Global Treasury Centre IFSC and Amefird Treasury, according to the International Financial Services Centres Authority, the regulator.
The next wave is expected to be dominated by multinational companies.
“Significant internal evaluation is underway at corporates, particularly among multinational firms,” said Rajagopal.
The expansion is creating opportunities for banks to provide liquidity-management services, an increasingly important business as global companies seek to centralize cash and funding operations.
JPMorgan offers services including physical pooling, cash concentration and notional pooling, Rajagopal said. Physical pooling consolidates cash balances from subsidiaries into a central account, while notional pooling offsets balances across multiple accounts without physically moving funds.
“Companies across the world want to optimize borrowing costs and deploy surplus cash efficiently, particularly when commodity prices remain volatile,” said the managing director.
— With assistance from Saket Sundria
https://www.bloomberg.com/news/articles/2026-07-17/jpmorgan-in-talks-with-100-multinationals-for-india-finance-hub
By Saikat Das and Siddhi Nayak, Bloomberg
July 17, 2026 at 9:30 AM GMT+8
- More than 100 companies have approached JPMorgan Chase & Co. to explore banking and payment solutions for corporate treasury operations in India's GIFT City.
- Clients approaching the bank include insurance companies and fintech firms, in addition to multinational firms, according to Guhaprasath Rajagopal, managing director and head of payments at JPMorgan India.
- The expansion in GIFT City is creating opportunities for banks to provide liquidity-management services, including physical pooling, cash concentration and notional pooling, said Rajagopal.
More than 100 companies have approached JPMorgan Chase & Co. to explore banking and payment solutions for corporate treasury operations in India’s GIFT City over the next 12 to 18 months, highlighting growing interest from multinational firms in the country’s financial hub.
“We haven’t seen anything like this before,” Guhaprasath Rajagopal, managing director and head of payments at JPMorgan India said in an interview. “Treasury centers are a major theme for GIFT City, and the ability to offer foreign-currency accounts alongside rupee capabilities provides an additional tailwind.”
Clients approaching the Wall Street bank also include insurance companies and fintech firms, he said.
The Gujarat International Finance Tec-City, known as GIFT City, is an initiative of Prime Minister Narendra Modi to position it as a global financial hub to rival Dubai or Hong Kong. The zone offers exemptions from certain taxes and regulatory restrictions, making it more attractive for international capital raising.
Banking assets in the hub based in Modi’s home state doubled to more than $100 billion as of September compared with two years earlier. The interest is being driven by incentives, including a 20-year tax holiday that came into effect in April.
Guhaprasath RajagopalSource: JPMorgan
There are 10 corporate treasury centers already operational in GIFT City. Those include AMNS Global Treasury Centre IFSC and Amefird Treasury, according to the International Financial Services Centres Authority, the regulator.
The next wave is expected to be dominated by multinational companies.
“Significant internal evaluation is underway at corporates, particularly among multinational firms,” said Rajagopal.
The expansion is creating opportunities for banks to provide liquidity-management services, an increasingly important business as global companies seek to centralize cash and funding operations.
JPMorgan offers services including physical pooling, cash concentration and notional pooling, Rajagopal said. Physical pooling consolidates cash balances from subsidiaries into a central account, while notional pooling offsets balances across multiple accounts without physically moving funds.
“Companies across the world want to optimize borrowing costs and deploy surplus cash efficiently, particularly when commodity prices remain volatile,” said the managing director.
— With assistance from Saket Sundria
https://www.bloomberg.com/news/articles/2026-07-17/jpmorgan-in-talks-with-100-multinationals-for-india-finance-hub
Bloomberg.com
JPMorgan in Talks With 100 Multinationals for India Finance Hub
More than 100 companies have approached JPMorgan Chase & Co. to explore banking and payment solutions for corporate treasury operations in India’s GIFT City over the next 12 to 18 months, highlighting growing interest from multinational firms in the country’s…
🇮🇳India Daybook – Stocks in News
VA Tech: Company bags 2 Orders In The Range Of Rs 250-600 cr From Bangalore Water Supply & Sewerage Board For Energy-Efficient Wastewater Treatment Facilities. (Positive)
Sterlite Technologies: Company has launched its CONCAT optical connectivity solution in the United States through its US subsidiary. (Positive)
United Breweries: Company has commissioned a new canning line at its Nizam Brewery. (Positive)
Poonawalla Fincorp: Q1 FY27 Net Profit at Rs. 308 crore vs Rs. 63 crore YoY. Revenue at Rs. 2,330 crore vs Rs. 1,314 crore YoY. (Positive)
Zee Entertainment Enterprises: Company is exploring the sale of a 49% stake in Zee Music, according to media reports. (Positive)
Jayaswal Neco Industries: Q1 FY27 Standalone Net Profit at Rs. 194 crore vs Rs. 93 crore YoY. Revenue at Rs. 2,100 crore vs Rs. 1,650 crore YoY. (Positive)
Jammu & Kashmir Bank: Company has signed a Share Purchase Agreement (SPA) to sell its stake to MetLife International for Rs. 120.1 crore at Rs. 117.20 per share. (Positive)
OM Infra: Company has emerged as the L1 bidder for a Rs. 482.27 crore irrigation EPC project in Rajasthan and is awaiting the Letter of Intent (LoI). (Positive)
Jana Small Finance Bank: Company has received the IBA Banking Technology Award for Identity & Access Management in the Small Bank category. (Positive)
GAIL (India): Company has signed MoU with KABIL to collaborate on critical and strategic minerals, including identification of mineral opportunities, technical cooperation and joint initiatives across the mining value chain. (Positive)
ONGC: Company has successfully completed two deep geothermal wells at Puga, Ladakh, marking a key milestone for India's first demonstration-scale geothermal power project. (Positive)
Nutricircle: Company has signed an MoU with the Government of Tripura to develop a BioNutrition Valley focused on plant proteins, functional food ingredients and bio-based products. (Positive)
NTPC: Group's installed capacity has increased to 90,965 MW after THDC commissioned an 11 MW floating solar project at Khurja STPP, which achieved commercial operations from July 17, 2026. (Positive)
Chennai Petro: Board Approves Final Dividend of Rs. 54/Sh For FY26, Fixes Record Date As Aug 7, 2026 (Positive)
Samvardhana Motherson: Company has received approval from a Japanese court for the acquisition of an 81% stake in Yutaka Giken Co. Ltd., with the transaction expected to close in Q2 FY27. (Positive)
Artson Engineering: Company has received a Letter of Intent (LoI) worth Rs. 14.63 crore from TKIL Industries for the JSW Jaigarh Port Project. (Positive)
Power Grid: Declared successful bidder for installation of two synchronous condenser units at the Fatehgarh-II substation. (Positive)
Olectra Greentech: Impleaded as a respondent in a PIL related to land acquisition for its proposed EV manufacturing facility. (Positive)
Punjab National Bank (PNB): Q1 FY27 Standalone Net Profit at Rs. 5,253 crore vs Rs. 1,675 crore YoY. Net Interest Income (NII) at Rs. 10,798 crore vs Rs. 10,578 crore YoY. (Positive)
Yes Bank: Q1 FY27 Net Profit at Rs. 1,070 crore vs Rs. 810 crore YoY. Net Interest Income (NII) at Rs. 2,786 crore vs Rs. 2,372 crore YoY. Gross NPA remained at 1.30%, while Net NPA remained at 0.20% QoQ. (Positive)
ICICI Bank: Q1 FY27 Net Profit at Rs. 14,801 crore vs Rs. 12,768 crore YoY. Net Interest Income (NII) at Rs. 24,385 crore vs Rs. 21,635 crore YoY. Gross NPA at 1.38% vs 1.40% QoQ, while Net NPA stood at 0.35% vs 0.37% QoQ. (Positive)
India Cements: Q1 FY27 Net Profit at Rs. 27 crore vs Net Loss of Rs. 131 crore YoY. Revenue at Rs. 1,019 crore vs Rs. 1,025 crore YoY. (Positive)
Premier Polyfilm: Q1 FY27 Net Profit at Rs. 9.1 crore vs Rs. 6.0 crore YoY. Revenue at Rs. 100.06 crore vs Rs. 74.44 crore YoY. (Positive)
Natco Pharma: Company receives tentative USFDA approval for Olaparib Tablets. (Positive)
Sangam India: Q1 FY27 Net Profit at Rs. 41 crore vs Rs. 2.1 crore YoY. Revenue at Rs. 860 crore vs Rs. 790 crore YoY. (Positive)
VA Tech: Company bags 2 Orders In The Range Of Rs 250-600 cr From Bangalore Water Supply & Sewerage Board For Energy-Efficient Wastewater Treatment Facilities. (Positive)
Sterlite Technologies: Company has launched its CONCAT optical connectivity solution in the United States through its US subsidiary. (Positive)
United Breweries: Company has commissioned a new canning line at its Nizam Brewery. (Positive)
Poonawalla Fincorp: Q1 FY27 Net Profit at Rs. 308 crore vs Rs. 63 crore YoY. Revenue at Rs. 2,330 crore vs Rs. 1,314 crore YoY. (Positive)
Zee Entertainment Enterprises: Company is exploring the sale of a 49% stake in Zee Music, according to media reports. (Positive)
Jayaswal Neco Industries: Q1 FY27 Standalone Net Profit at Rs. 194 crore vs Rs. 93 crore YoY. Revenue at Rs. 2,100 crore vs Rs. 1,650 crore YoY. (Positive)
Jammu & Kashmir Bank: Company has signed a Share Purchase Agreement (SPA) to sell its stake to MetLife International for Rs. 120.1 crore at Rs. 117.20 per share. (Positive)
OM Infra: Company has emerged as the L1 bidder for a Rs. 482.27 crore irrigation EPC project in Rajasthan and is awaiting the Letter of Intent (LoI). (Positive)
Jana Small Finance Bank: Company has received the IBA Banking Technology Award for Identity & Access Management in the Small Bank category. (Positive)
GAIL (India): Company has signed MoU with KABIL to collaborate on critical and strategic minerals, including identification of mineral opportunities, technical cooperation and joint initiatives across the mining value chain. (Positive)
ONGC: Company has successfully completed two deep geothermal wells at Puga, Ladakh, marking a key milestone for India's first demonstration-scale geothermal power project. (Positive)
Nutricircle: Company has signed an MoU with the Government of Tripura to develop a BioNutrition Valley focused on plant proteins, functional food ingredients and bio-based products. (Positive)
NTPC: Group's installed capacity has increased to 90,965 MW after THDC commissioned an 11 MW floating solar project at Khurja STPP, which achieved commercial operations from July 17, 2026. (Positive)
Chennai Petro: Board Approves Final Dividend of Rs. 54/Sh For FY26, Fixes Record Date As Aug 7, 2026 (Positive)
Samvardhana Motherson: Company has received approval from a Japanese court for the acquisition of an 81% stake in Yutaka Giken Co. Ltd., with the transaction expected to close in Q2 FY27. (Positive)
Artson Engineering: Company has received a Letter of Intent (LoI) worth Rs. 14.63 crore from TKIL Industries for the JSW Jaigarh Port Project. (Positive)
Power Grid: Declared successful bidder for installation of two synchronous condenser units at the Fatehgarh-II substation. (Positive)
Olectra Greentech: Impleaded as a respondent in a PIL related to land acquisition for its proposed EV manufacturing facility. (Positive)
Punjab National Bank (PNB): Q1 FY27 Standalone Net Profit at Rs. 5,253 crore vs Rs. 1,675 crore YoY. Net Interest Income (NII) at Rs. 10,798 crore vs Rs. 10,578 crore YoY. (Positive)
Yes Bank: Q1 FY27 Net Profit at Rs. 1,070 crore vs Rs. 810 crore YoY. Net Interest Income (NII) at Rs. 2,786 crore vs Rs. 2,372 crore YoY. Gross NPA remained at 1.30%, while Net NPA remained at 0.20% QoQ. (Positive)
ICICI Bank: Q1 FY27 Net Profit at Rs. 14,801 crore vs Rs. 12,768 crore YoY. Net Interest Income (NII) at Rs. 24,385 crore vs Rs. 21,635 crore YoY. Gross NPA at 1.38% vs 1.40% QoQ, while Net NPA stood at 0.35% vs 0.37% QoQ. (Positive)
India Cements: Q1 FY27 Net Profit at Rs. 27 crore vs Net Loss of Rs. 131 crore YoY. Revenue at Rs. 1,019 crore vs Rs. 1,025 crore YoY. (Positive)
Premier Polyfilm: Q1 FY27 Net Profit at Rs. 9.1 crore vs Rs. 6.0 crore YoY. Revenue at Rs. 100.06 crore vs Rs. 74.44 crore YoY. (Positive)
Natco Pharma: Company receives tentative USFDA approval for Olaparib Tablets. (Positive)
Sangam India: Q1 FY27 Net Profit at Rs. 41 crore vs Rs. 2.1 crore YoY. Revenue at Rs. 860 crore vs Rs. 790 crore YoY. (Positive)
Rossari Biotech: Q1 FY27 Net Profit at Rs. 35.1 crore vs Rs. 33.6 crore YoY. Revenue at Rs. 697 crore vs Rs. 543 crore YoY. (Neutral)
JK Cement: Q1 FY27 Net Profit at Rs. 277 crore vs Rs. 324 crore YoY. Revenue at Rs. 4,032 crore vs Rs. 3,353 crore YoY. (Neutral)
IDBI Bank: Q1 FY27 Net Profit at Rs. 2,115 crore vs Rs. 2,007 crore YoY. Net Interest Income (NII) at Rs. 3,486 crore vs Rs. 3,166 crore YoY. (Neutral)
HDFC Bank: Q1 FY27 Net Profit at Rs. 19,060 crore vs Rs. 18,155 crore YoY. Net Interest Income (NII) at Rs. 33,534 crore vs Rs. 31,438 crore YoY. (Neutral)
Kotak Mahindra Bank: Q1 FY27 Standalone Net Profit at Rs. 4,122 crore vs Rs. 3,281 crore YoY. Net Interest Income (NII) at Rs. 7,928 crore vs Rs. 8,001 crore YoY. (Neutral)
Axis Bank: Q1 FY27 Standalone Net Profit at Rs. 7,100 crore vs Rs. 5,800 crore YoY. Net Interest Income (NII) at Rs. 14,646 crore vs Rs. 13,559 crore YoY. (Neutral)
Reliance Industries: Q1 FY27 Consolidated Net Profit at Rs. 20,946 crore vs Rs. 16,971 crore QoQ. Revenue at Rs. 3.12 lakh crore vs Rs. 2.99 lakh crore QoQ. (Neutral)
Aditya Birla Capital: Company has invested Rs. 484.50 crore in Aditya Birla Sun Life Insurance through a rights issue. (Neutral)
Chemplast Sanmar: Company reported a minor fire at its Puducherry EDC plant. No injuries were reported and restoration work is underway. (Neutral)
Cipla: Company's US subsidiary has received a USFDA Form 483 with one observation following an inspection of its New York manufacturing facility. (Neutral)
JSW Steel: Management expects domestic steel demand to grow 7–9% going forward. (Neutral)
Tata Technologies: Q1 FY27 Consolidated Net Profit at Rs. 181 crore vs Rs. 170 crore YoY. Revenue at Rs. 1,665 crore vs Rs. 1,244 crore YoY. (Neutral)
RBL Bank: Q1 FY27 Standalone Net Profit at Rs. 254 crore vs Rs. 200 crore YoY. Revenue at Rs. 3,840 crore vs Rs. 3,440 crore YoY. (Neutral)
Oberoi Realty: Q1 FY27 Consolidated Net Profit at Rs. 544 crore vs Rs. 421 crore YoY. Revenue at Rs. 1,300 crore vs Rs. 988 crore YoY. (Neutral)
Jagsonpal Pharmaceuticals: Company has completed the acquisition of an 85% equity stake in Aequitas Healthcare Pvt. Ltd. (Neutral)
Tata Capital: S&P Global Ratings assigned a BBB rating to the proposed $400 million senior unsecured notes. (Neutral)
List of stocks excluded from ASM Framework: Oriental Hotels. (Neutral)
Circuit filter change from 5% to 10%: Fujiyama Power Systems. (Neutral)
JK Cement: Q1 FY27 Net Profit at Rs. 277 crore vs Rs. 324 crore YoY. Revenue at Rs. 4,032 crore vs Rs. 3,353 crore YoY. (Neutral)
IDBI Bank: Q1 FY27 Net Profit at Rs. 2,115 crore vs Rs. 2,007 crore YoY. Net Interest Income (NII) at Rs. 3,486 crore vs Rs. 3,166 crore YoY. (Neutral)
HDFC Bank: Q1 FY27 Net Profit at Rs. 19,060 crore vs Rs. 18,155 crore YoY. Net Interest Income (NII) at Rs. 33,534 crore vs Rs. 31,438 crore YoY. (Neutral)
Kotak Mahindra Bank: Q1 FY27 Standalone Net Profit at Rs. 4,122 crore vs Rs. 3,281 crore YoY. Net Interest Income (NII) at Rs. 7,928 crore vs Rs. 8,001 crore YoY. (Neutral)
Axis Bank: Q1 FY27 Standalone Net Profit at Rs. 7,100 crore vs Rs. 5,800 crore YoY. Net Interest Income (NII) at Rs. 14,646 crore vs Rs. 13,559 crore YoY. (Neutral)
Reliance Industries: Q1 FY27 Consolidated Net Profit at Rs. 20,946 crore vs Rs. 16,971 crore QoQ. Revenue at Rs. 3.12 lakh crore vs Rs. 2.99 lakh crore QoQ. (Neutral)
Aditya Birla Capital: Company has invested Rs. 484.50 crore in Aditya Birla Sun Life Insurance through a rights issue. (Neutral)
Chemplast Sanmar: Company reported a minor fire at its Puducherry EDC plant. No injuries were reported and restoration work is underway. (Neutral)
Cipla: Company's US subsidiary has received a USFDA Form 483 with one observation following an inspection of its New York manufacturing facility. (Neutral)
JSW Steel: Management expects domestic steel demand to grow 7–9% going forward. (Neutral)
Tata Technologies: Q1 FY27 Consolidated Net Profit at Rs. 181 crore vs Rs. 170 crore YoY. Revenue at Rs. 1,665 crore vs Rs. 1,244 crore YoY. (Neutral)
RBL Bank: Q1 FY27 Standalone Net Profit at Rs. 254 crore vs Rs. 200 crore YoY. Revenue at Rs. 3,840 crore vs Rs. 3,440 crore YoY. (Neutral)
Oberoi Realty: Q1 FY27 Consolidated Net Profit at Rs. 544 crore vs Rs. 421 crore YoY. Revenue at Rs. 1,300 crore vs Rs. 988 crore YoY. (Neutral)
Jagsonpal Pharmaceuticals: Company has completed the acquisition of an 85% equity stake in Aequitas Healthcare Pvt. Ltd. (Neutral)
Tata Capital: S&P Global Ratings assigned a BBB rating to the proposed $400 million senior unsecured notes. (Neutral)
List of stocks excluded from ASM Framework: Oriental Hotels. (Neutral)
Circuit filter change from 5% to 10%: Fujiyama Power Systems. (Neutral)
Forwarded from Aapka Saarthi @STOCKARTHi Make Money Work For You !!! (۞ A X i T D S H A H ۞)
Forwarded from Aapka Saarthi @STOCKARTHi Make Money Work For You !!! (۞ A X i T D S H A H ۞)
Forwarded from Aapka Saarthi @STOCKARTHi Make Money Work For You !!! (۞ A X i T D S H A H ۞)