Business News (1st July, 2025)
India Business & Economy
GST Collections Reach ₹1.85 Trillion in June
India's Goods and Services Tax (GST) revenue for June 2025 stood at ₹1.85 trillion, marking a 6.2% increase compared to the same period last year.
New Financial Regulations Effective Today
From July 1, 2025, India has implemented stricter GST compliance rules, including making GSTR-3B filings non-editable post-submission and introducing a three-year limit for filing past returns. Additionally, Aadhaar is now mandatory for new PAN card applications.
Lupin Spins Off Consumer Healthcare Division
Pharmaceutical company Lupin has announced the spin-off of its consumer healthcare division, LupinLife Consumer Healthcare, into a separate entity to enhance operational focus and growth.
Markets & Finance
Indian Stock Markets Close Flat
On July 1, the Sensex and Nifty indices ended the day flat amid rangebound trading. Public sector banks saw gains, while media stocks experienced declines.
Top Stock Movements
Bharat Electronics reached a new high amid heavy trading volumes. Analysts have recommended stocks such as Tech Mahindra, Trent, Bharat Dynamics, Indus Towers, and SBI for potential investment.
U.S. Markets at Record Highs Amid Uncertainties
The S&P 500 has risen over 5% in the first half of 2025, recovering from an April downturn. However, investors remain cautious due to potential impacts from President Trump's tariff policies and upcoming tax legislation.
Global Business & Energy
Oil Prices Steady Amid OPEC+ Output Discussions
Oil prices have stabilized near their lowest levels since early June, with markets focusing on the anticipated production increases from OPEC+ scheduled for this weekend.
Nasdaq Leads in IPO Listings
In the first half of 2025, Nasdaq has outpaced the New York Stock Exchange in the number of IPO listings, driven by significant offerings from companies like CoreWeave and Chime.
Commodities & Personal Finance
Gold Prices Show Bearish Trend
Gold prices in India are exhibiting a slightly bearish trend due to easing geopolitical tensions. As of July 1, 24-carat gold is priced at ₹98,400 per 10 grams.
Money Market Account Rates Remain High
Money market account interest rates continue to stay well above historical norms, with some accounts offering up to 4.41% APY.
Technology & Startups
India Strengthens Tech Ties with Cyprus and Croatia
Prime Minister Narendra Modi's recent visits to Cyprus and Croatia have bolstered technological collaborations, enhancing India's global partnerships in the tech sector.
Web 3.0 Market Projected to Reach $37.5 Billion by 2030
The global Web 3.0 market, valued at $3.6 billion in 2024, is projected to grow at a CAGR of 47.6%, reaching $37.5 billion by 2030. This growth is driven by increasing demand for digital ownership, data privacy, and decentralized financial ecosystems.
Indian Startup Ecosystem Updates
YourStory provides a daily roundup of news from the Indian startup ecosystem, highlighting the latest developments and updates.
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