Market News: India Eyes Uranium Imports from Namibia to Boost Energy - JP MORGAN INTIATE COVERAGE ON EMS - JUNE MF DATA

 

India Eyes Uranium Imports from Namibia to Boost Energy and Strategic Ties



Likely Indian Listed Beneficiaries:

  Uranium/Nuclear Power: NPCIL (unlisted), NTPC (nuclear JV), BHEL (nuclear EPC), L&T (reactor components)

Defence Equipment Exporters: Bharat Electronics (BEL) Hindustan Aeronautics (HAL) BEML, Bharat Dynamics (BDL)

Mineral & PSU Investors: NMDC, Hindustan Copper, Vedanta, Coal India, ONGC Videsh (via ONGC)

Oil & Gas Exploration: ONGC, Oil India, Reliance, GAIL (LNG linkage potential)

KEI Industries: Management Says Too Early to Assess Impact of Trump's Copper Tariffs

The company clarified that the US tariffs apply to raw copper, not copper cathodes used in cables and wires.

Management noted it is too early to determine any operational or export impact.

There may be a potential indirect effect if US demand for copper-based products slows down.

 

JP MORGAN INTIATE COVERAGE ON EMS

AMBER ENT; NEUTRAL, TARGET 7350

CYIENT DLM; NEUTRAL, TARGET 450

AVALON TECH; UNDERWEIGHT, TARGET 650

SYRMA: OVERWEIGHT, TARGET 800

DIXON TECH; OVERWEIGHT, TARGET 17,700

KAYNES; OVERWEIGHT, TARGET 7150

 

JUNE MF DATA

§  Liquid Fund Outflow At ₹25,196 Cr Vs 40,205.4 Cr Outflow (MoM)

§  ETF Inflow At ₹844.43 Cr Vs ₹4,086.8 Cr Inflow (MoM)

§  Credit Risk Fund Outflow At 168 Cr Vs 248 Cr Outflow (MoM)

§  ELSS Fund Outflow At ₹556 Cr Vs 678 Cr Outflow (MoM)

§  Active Equity Funds See Inflows Of ₹23,587 Cr Vs Net Inflow Of ₹19,013 Cr (MoM)

§  Large-Cap Funds See Inflows Of ₹1,694 Cr Vs Net inflow of ₹1,250 Cr (MOM)

§  Mid-Cap Funds See Inflows Of ₹3,754 Cr Vs Net inflow of ₹2,809 Cr (MoM)

§  Small-Cap Funds See Inflows Of ₹4,024 Cr Vs Net Inflow Of ₹3,214 Cr (MoM)

§  Flexi-Cap Funds See Inflows Of ₹5,733 Cr Vs Net inflow Of ₹3,841 Cr (MOM)

§  Sectoral/Thematic Funds See Inflows Of ₹476 Cr Vs Net inflow Of ₹2,052 Cr (Mom)

§  NFO Inflows At ₹1,986 Cr Vs ₹4,170 Cr (MoM)

§  Active Equity Funds See Inflows Of ₹23,587 Cr Vs Net Inflow of ₹19,013 Cr (MoM)

ETERNAL, SWIGGY: Zepto is set to raise $450-500 million in fresh funding at a post-money valuation of $7 billion, up 40% from last year -CNBC-TV18.

Existing investors General Catalyst and Avenir Growth are leading the round, with others participating pro rata.

The deal is in advanced stages and is expected to close soon.

This could intensify competition in quick commerce and impact peers like Swiggy Instamart and Reliance-backed Eternal.

RELIANCE IND: Reliance Retail IPO is unlikely before 2027 or 2028, according to Reuters.

Reliance Jio Platforms IPO is also reportedly delayed, with no listing planned for 2025.

Earlier expectations pointed to a second-half 2025 IPO, but there is now no confirmed timeline.

Beat the Street Delays in both listings may impact near-term valuation unlocking for investors.

 

SOURCES SAY

• GST on mining equipment likely to be rationalised

• Mines Ministry approaches Finance Ministry for rationalisation of GST on mining equipment

• Issues related to inverted duty structure and green mining discussed with the industry

• Mines Ministry wants GST rate on equipment used in green mining to be slashed to 5%

• Industry has also urged rationalisation of the inverted duty structure on various equipment

• GST on components such as hydraulics and electronics attracts 18%

• However, final equipment such as crawler cranes and drilling rigs is taxed at 12%

• Mines Ministry wants these issues to be addressed to encourage critical minerals mining

• Issues likely to be part of the wider rate rationalisation being examined by the GST GOM

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