HUL shares surge 5% on Priya Nair’s elevation to the top; Nuvama calls move a positive catalyst
Shares of Hindustan Unilever Ltd
., (HUL), surged as much as 5% on Friday, July 11, after India’s largest consumer company announced the elevation of Priya Nair as the new MD & CEO, replacing Rohit Jawa, who will step down after just two years at the helm.Nair will become the first female MD & CEO in HUL’s 92-year history. She is currently the President, Beauty & Wellbeing in 2023, where she managed a €13.2 billion business with hair and skin care brands including Dove, Sunsilk, Clear and Vaseline.Abneesh Roy, Executive Director at Nuvama Institutional Equities, said the management change at Hindustan Unilever (HUL) is being viewed as a positive catalyst by investors.
Jane Street crackdown by SEBI impacts India’s options market volumes
Trading activity in India’s options market has slowed down considerably, more so during the weekly options expiry sessions, after market regulator Securities and Exchange Board of India (SEBI) took action against US-based proprietary trading firm, Jane Street, last week.
The order, published on the SEBI website last week, has had an impact on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), both of whom has seen a decline in the options premium turnover since then.On the NSE, the index options premium turnover on the weekly expiry day of Thursday, has dropped sharply over the last three weeks. What stood at ₹80,731 crore on June 26, the options premium turnover on the NSE fell to ₹61,511 crore on July 3, which happens to be the same evening that SEBI issued the Jane Street order.
Monsoon alert | Delhi, Odisha, Chhattisgarh alerted of heavy rainfall, potential floods in the coming week
As many parts of India reel from heavy rainfall, India Meteorological Department (IMD) has issued orange alert to Jammu-Kashmir, Himachal Pradesh, Haryana, Punjab, Delhi NCR, and Uttar Pradesh, among others. Meanwhile, many parts of northeast India face fatal floods.
TCS share price target cut by analysts after weak Q1, ‘hazy’ growth outlook
Brokerage firms Nomura and UBS have trimmed their price targets on shares of Tata Consultancy Services (TCS) Ltd. after the Tata Group giant reported soft June quarter numbers.
A key highlight from the quarter was a 3.3% sequential drop in constant currency revenue. Deal wins remained within the company’s guided range but narrowed compared to the March quarter. US Dollar revenue declined against expectations of growth, while net profit was aided by higher other income.
TCS has not yet decided on salary hikes for FY25 due to macroeconomic uncertainties and delayed deal closures. The company said an update on hikes will be provided once the situation improves.
PVR, BookMyShow win as Bombay HC quashes Maharashtra’s ban on movie ticket convenience fees
The Bombay High Court on Thursday, July 10, quashed Maharashtra government orders that had barred the collection of convenience fees on movie tickets booked online. The verdict comes as a relief to platforms like PVR Cinemas and BookMyShow that had challenged the legality of these restrictions.
A division bench of Justice MS Sonak and Justice Jitendra Jain ruled that the state government lacked legislative authority under the Maharashtra Entertainment Duty Act (MED Act) to impose such a prohibition, according to a report on Bar & Bench.
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Everything new coming to Samsung Galaxy Watch8 series: AI health tracking, antioxidant index, and more
Samsung on Wednesday announced the launch of its Galaxy Watch8 and Galaxy Watch8 Classic smartwatches in India, introducing several new health and wellness features powered by AI and advanced sensors.
From improved sleep analysis to personalised fitness coaching and even the world’s first Antioxidant Index on a smartwatch, these devices offer a range of new features with One UI 8 Watch.
Prime Day 2025 Scams Surge: 36,000 fake sites, 75,000 impersonation texts target Indian shoppers
As Amazon’s Prime Day 2025 approaches, shoppers aren’t the only ones gearing up for deals. Scammers are also getting ready with fake websites, deepfake influencers, and a flurry of AI-powered phishing texts aimed at India’s online buyers.
A new study by cybersecurity firm McAfee reveals a worrying spike in fraud attempts tied to Prime Day. The company has flagged over 36,000 fake Amazon websites and 75,000 scam texts mimicking Amazon, many of them crafted using AI to appear alarmingly authentic.
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What’s keeping gold prices in check
Gold prices rose on Friday (July 11) as fresh US tariff threats unsettled global trade sentiment. Spot gold gained 0.3% to $3,333.67 per ounce in early trade. US gold futures climbed 0.6% to $3,345.10 per ounce.
In India, gold trades at ₹99,000 for 10 grams of 24 karat gold, ₹90,750 for 10 grams of 22 karat gold, and ₹74,250 for 10 grams of 18 karat gold, as per Goodreturns data.The uptick follows US President Donald Trump’s announcement of a 35% tariff on Canadian imports starting August 1. Trump also signalled blanket tariffs of 15–20% on most other trade partners, escalating concerns about global supply chains.However, gains remained capped as the US dollar strengthened. The dollar index is on track for its best weekly performance since late February, making gold costlier for overseas buyers.
8th Pay Commission may hike govt employees’ salary by up to 34%: Know fitment factor, timeline
Government employees’ salary are likely to be increased by 30-34 per cent following the implementation of the 8th pay commission, according to a report by a brokerage firm Ambit Capital. The same hike is expected in the pension of retired government employees.The 8th pay commission, set to replace the 7th pay commission implemented in 2016, will directly benefit around 4.4 million central government employees and 6.8 million pensioners. A pay commission is established every ten years to revise the salaries of the central government employees.”The 7th Pay Commission (January 2016 – December 2025) had implemented a modest salary hike of ~14% (lowest since 1970). We expect the 8th Pay Commission to announce a hike of 30-34% for salaries & pensions to cover ~11mn beneficiaries to boost consumption,” the report states.
Income tax return: Filed the wrong ITR form? Here are the steps to fix it
Filing income tax returns for the financial year 2024–25 may appear routine, but taxpayers often inadvertently select the incorrect ITR form, either by misreporting deductions or omitting key income disclosures.Tax professionals say such errors are common due to changes in form applicability and taxpayer profiles. However, the filing can be corrected if appropriate steps are taken in a timely manner.
We’ll see you on Monday with another edition of 11:11! Happy weekend!
