The upcoming IPO of HDB Financial Services, worth Rs 12,500 crore, is turning out to be a worrying event for many early investors.

According to the latest Red Herring Prospectus (RHP) filed on June 19, over 49,000 individual shareholders may suffer notional losses of up to 48 per cent.

As of June 19, the company had 49,553 individual shareholders.

The combined Index of Eight Core Industries (ICI) increased by 0.7 per cent in May compared to the same month last year, the Ministry of Commerce and Industry data showed on Friday.

The production of cement, steel, coal, and refinery products recorded positive growth last month.

The final growth rate of the Index of Eight Core Industries for February, March and April was observed at 3.4, 4.5 and 1.0 per cent, respectively, said the ministry.

South Korea's space agency said on Friday it plans to develop a reusable space launch vehicle by 2035 in a bid to keep pace with the rapidly shifting landscape of the global space industry.

The Korea AeroSpace Administration (KASA) has been working to modify its 2.1 trillion-won (US$1.53 billion) project for a next-generation rocket, originally designed as a single-use launch vehicle, into a reusable system, with the goal of acquiring the necessary technology within the next decade, reports news agency.

The agency stressed that early development of reusable launch vehicles is crucial amid rapid changes in the global space transportation market, driven by the success of SpaceX's Falcon 9 and Starship.

India Inc. must take up infrastructure building in cities in partnership with municipal corporations as the country is expected to add 70 million new urban residents in the next two decades by 2045, a senior official said on Friday.

Addressing a CII conference here, D Thara, Additional Secretary, Ministry of Housing and Urban Affairs, said that there is a disconnect between India’s economic ambitions and the capacities of its urban local bodies, so the private sector needs to be proactively engaged in the urban development of the country.

“India is a rich nation with poor municipalities,” she remarked.

She was delivering the keynote address at a CII conference on ‘Exploring Urban Dynamics: Outlook 2030’.

Shares of Sun TV Network Limited dropped over 5 per cent on Friday morning after a legal dispute emerged between the Maran brothers — Dayanidhi Maran and Kalanithi Maran.

Dayanidhi Maran, a DMK MP and former telecom minister, has sent a legal notice to his elder brother and Sun TV’s Chairman and Managing Director, Kalanithi Maran, over alleged financial irregularities.

In the notice, Dayanidhi Maran has accused Kalanithi of committing 'fraudulent practices' and 'misgovernance' during the takeover of Sun TV.

He has alleged that his brother was involved in a series of "calculated and coordinated financial crimes" including cheating and money laundering.

The Indian apparel sector is projected to clock a 11 per cent compound annual growth rate (CAGR) over FY24-FY29, a report showed on Friday.

India's apparel sector expanded at an 11 per cent CAGR over FY20-24, in line with nominal GDP and private final consumption expenditure (PFCE) growth, according to HSBC Global Investment Research.

Driven by increasing penetration and affordability, branded segment has seen a 16 per cent CAGR over FY12-24 (unbranded 5 per cent CAGR).

Going forward, across different apparel sub-segments, non-formal wear has higher growth expectations with active wear (25 per cent FY24-29 CAGR driven by post COVID-19 trend of casual wear) and organised value retail (16 per cent CAGR FY24-29, the biggest beneficiary of shift from unorganized) expected to clock highest growth.

E-waste recycling company Attero on Thursday announced a significant scale-up of its rare earth element (REE) recycling capacity to 30,000 tonnes from 300 tonnes over the next 12 to 24 months by investing Rs 100 crore.

This expansion directly supports the National Critical Mineral Mission (NCMM), launched by the government in 2025 to reduce import dependence and promote self-reliance in critical mineral supply chains, said the world’s most advanced recycler of lithium-ion batteries in a statement.

Rare earth metals such as Neodymium (Nd), Praseodymium (Pr), and Dysprosium (Dy) are essential to key sectors including electric vehicles, wind energy, and consumer electronics.

With the global REE market projected to reach $10.9 billion by 2029 at a CAGR of 12.6 per cent, and REE magnets expected to exceed $30.3 billion by 2033, building indigenous recycling and extraction capabilities is now a national priority.

“Attero has consistently advocated for India’s self-reliance in critical minerals to reduce dependence on imports and counter China’s dominance in rare earth supply chains. We are proud to be the only Indian company with proven deep-tech and globally patented processes to refine black mass and recover rare earth elements with over 98 per cent efficiency and 99.9 per cent purity,” said Nitin Gupta, CEO and Co-founder of Attero.

Global investment firm Bernstein, in its latest research report titled 'Paytm: What Do You Need to Believe Now?' has reaffirmed an 'Outperform' rating on One97 Communications Ltd (Paytm), setting a target price of Rs 1,100, which implies a 27 per cent upside from current levels.

According to Bernstein, “Paytm has shown remarkable resilience, recovering from the regulatory actions of early 2024 to once again near break-even,” with the report noting that many concerns around the sustainability of its business model have now been addressed.

Bernstein outlines a base-case scenario where Paytm’s EPS is projected to grow non-linearly from Rs 1.5 in FY26E to Rs 70 by FY30E, backed by strong revenue growth and tight cost control.

Real estate investment trusts (REITs) in top seven Indian cities currently have only 23 per cent of total REIT-worthy office stock (worth 520 million square feet) listed in their portfolios, showcasing tremendous scope in the future, according to a report released on Thursday.

In terms of appreciation, India’s office REITs have shown strong one-year performance (as of June 16, 2025), driven by robust leasing activity and steady rental escalations.

India was a late entrant into the REIT sector. However, since REITs launched in 2019, their market capitalisation has surpassed that of some major economies with matured REIT markets., according to latest Anarock Research data.

The three listed Indian REITs -- Embassy Office Parks, Mindspace Business Parks and Brookfield India -- have a combined portfolio of just 117.2 million sq ft, which is just 23 per cent of the overall REIT-able Indian office space market, said Anuj Puri, Chairman, Anarock Group.

The total number of e-services provided across states and UTs in the country have touched the of 21,062 mark, with the majority of these services (7,065) falling under the Local Governance and Utility Services sector, according to a report released by the Department of Administrative Reforms and Public Grievances (DARPG) on Thursday.

Another 424 new e-services have been added in April by various states and UTs, with Tripura contributing the highest number of additions across all focus sectors, the National e-Governance Service Delivery Assessment (NeSDA) report states.

A total of 1,599 out of 2,016 mandatory e-services (56 for each of the 36 states/UTs) are now available online across all 36 states and union territories, achieving a saturation rate of over 79 per cent.

There were 16 states and UTs that achieved over 90 per cent saturation, while Maharashtra and Uttarakhand achieved 100 per cent saturation.

The report highlights Chandigarh’s commitment to strengthening public service delivery through the Right to Services (RTS) framework. It also brings attention to ongoing efforts to unify service delivery and ensure real-time transparency for citizens.