India approves Rs 52,000 cr military procurement, Adani Defence's Rs 2,500 cr missile ecosystem, & more

Jul 06, 2026

Markets opened above Friday’s closing point.

Nifty 50 rose today and the rise was mostly due to a rise in large banking stocks and a fall in oil prices.

Some major banks announced updates over the weekend. This was seen as a positive signal by the markets.

Most realty stocks and consumer durables stocks rose today. PSU Bank stocks and media stocks fell the most.

Global markets: US markets were closed on Friday. Most Asian markets and most European markets fell (as of 6 pm IST).

News

The Defence Acquisition Council (DAC) approved proposals worth nearly Rs 52,000 crore to procure advanced indigenous military hardware, including Akash Tarang electronic warfare systems, Kamikaze drones, anti-tank missiles, and naval unmanned aerial systems.
The India-Israel Bilateral Investment Agreement (BIA) came into force on 4 July, establishing a secure legal framework to boost cross-border capital flows while safeguarding both nations’ sovereign rights to regulate public policy.

Bajaj Finance: allotted secured NCDs worth Rs 5,306.57 crore on a private placement basis at coupon rates of 7.70% and 7.79%.
Adani Enterprises: subsidiary, Adani Defence & Aerospace will invest Rs 2,500 crore to establish South Asia’s largest private-sector missile ecosystem in Shivpuri, Madhya Pradesh.
Avenue Supermarts (DMart): allotted commercial papers worth Rs 300 crore at a 6.60% coupon rate.
Varun Beverages: subsidiary VBL Industries (Kenya) Ltd will acquire the value-added dairy beverages, juices and packaged drinking water business of Devyani Food Industries (Kenya) Ltd for $32 million (around Rs 305 crore).
CG Power: subsidiary CG Semi commenced commercial production at its G1 OSAT (Outsourced Semiconductor Assembly and Test) facility in Sanand, Gujarat. The company is investing over Rs 7,600 crore across two OSAT facilities.
Aditya Birla Capital: allotted unsecured subordinated NCDs worth Rs 556.8 crore through private placement at a coupon rate of 8.0668%.
Lloyds Metals: acquired an additional 12.27% stake in Hexa Energy MH3 Pvt Ltd for Rs 3.15 crore, increasing its total holding to 29.72%.

Fortune Global 500

It is a list of companies that are the 500 biggest in the world (in terms of revenue)

This list is prepared by the magazine called ‘Fortune’.

When you hear about how “big” a company is, usually the company’s market cap is used.

This is the usual convention. Example: S&P 500 is made up of the 500 biggest companies in the US in terms of m-cap.

Fortune does not use market cap to rank companies. It instead uses revenue to rank companies.

Fortune has many other such lists. Some examples:

-Fortune 500 (top 500 in the US)

-Fortune 500 Europe (top 500 in Europe)

Theme: ROE & ROCE
Day 1: Monday

We often hear about experienced investors wanting to invest in high ROE and ROCE companies.

In this week’s course, we’ll explore what these are and why investors like companies with ROEs and ROCEs.

ROE = Return on Equity

ROCE = Return on Capital Employed

ROE aims to measure the money the company is earning compared to its equity or shareholders’ equity.

Shareholders’ equity includes the money the company made by selling shares and by retaining profits.

ROCE aims to measure the money the company is earning compared to the total money it has put in the business.

This includes debt it takes (which was not included in ROE).

Both these numbers aim to measure how well a company is able to earn money when compared to the money it has and spends.

We explored the question “What if you bought a gold FOF instead of a gold ETF?”

Check out the full report here.

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