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Top of the Morning

Top of the Morning

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 Top of the Morning is a daily podcast hosted by Nelson John, in which we bring you all the action from the global markets and the business world to kick-start your day on a well-informed note. This is a Mint production, brought to you by HT Smartcast Economía Finanzas Personales Política y Gobierno
Episodios
  • Tata Steel’s ₹1,000 Cr Tax Shock | Russia Unleashes Air Fury | Sabotage Eyed in AI Crash

    Tata Steel’s ₹1,000 Cr Tax Shock | Russia Unleashes Air Fury | Sabotage Eyed in AI Crash
    Jun 30 2025
    Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories. Torrent’s ₹11,917 Cr Pharma Power Play India’s pharma space just witnessed a bold move. Torrent Pharmaceuticals is acquiring a 46.39% stake in JB Chemicals from KKR for ₹11,917 crore, valuing the company at ₹25,689 crore. The deal includes an open offer and a future merger. The strategy? Gain control of JB’s chronic care brands like Cilacar and Nicardia and break into the CDMO (contract development and manufacturing) market. JB’s presence in 40+ countries, and expertise in medicated lozenges, brings global heft. Torrent’s chairman Samir Mehta calls it a “long-term growth runway.” Meanwhile, KKR exits with a 5X return and a 36% IRR—making it one of India’s top private equity wins. Russia’s Most Brutal Barrage Yet In its deadliest aerial assault since the Ukraine war began, Russia launched 537 drones and missiles overnight. Ukraine shot down nearly half, but many penetrated defenses—killing at least 10 civilians and igniting major infrastructure damage, including a blaze in Lviv. A Ukrainian F-16 crashed during defense ops, killing its pilot. The strikes reached near Poland’s border, triggering NATO alerts. All this, ironically, followed Putin’s latest peace-talk proposal, which Ukraine dismissed. On the ground, Russia claimed a minor gain in Donetsk, while Ukraine controversially withdrew from the landmine ban. Analysts warn this could be the start of a summer offensive before Western F-16s arrive. Anant Ambani Joins Reliance Board with ₹20 Cr Role It’s official—Anant Ambani has stepped into executive leadership at Reliance Industries. The 29-year-old has been appointed Full-Time Director for five years, with an annual compensation package ranging from ₹10–20 crore. Perks include housing, utilities, medical, and even reimbursed travel for his wife and attendant. He’ll also receive performance-linked profit shares. This solidifies Anant’s growing role in Reliance’s energy and petrochemicals business and marks a major step in Mukesh Ambani’s well-scripted succession plan. Sabotage Angle in Air India Crash Being Probed Authorities are now investigating sabotage in the deadly Air India Dreamliner crash on June 12 in Ahmedabad. Flight AI 171 plunged seconds after takeoff, killing 241 people, including nine students and their families on the ground. Only one person survived. A “Mayday” call was issued by the pilot moments before impact. Minister Murlidhar Mohol confirmed the black boxes are being decoded in Delhi and denied reports of sending them abroad. All 33 Air India Dreamliners have since cleared safety checks. With CCTV footage under review and multiple agencies involved, the investigation is taking no chances. Tata Steel Faces ₹1,007 Cr Tax Notice Tata Steel is under the tax scanner for alleged irregularities in input tax credit (ITC) between FY2018-19 and 2022-23. The GST department has raised a ₹1,007 crore demand. Tata Steel counters that it has already paid ₹514 crore in GST and disputes the remaining ₹493 crore under review. The company called the notice baseless and is preparing to respond within the 30-day window. Financially, the company insists there’s no operational impact. Investors agree—shares closed higher at ₹161.40 and are up nearly 18% YTD. Over five years, Tata Steel has delivered a massive 388% return. Learn more about your ad choices. Visit megaphone.fm/adchoices
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    8 m
  • DGCA Flags Grim Safety Lapses | Ceasefire Sparks Market Surge | Trump Eyes Nobel for Peace Deal

    DGCA Flags Grim Safety Lapses | Ceasefire Sparks Market Surge | Trump Eyes Nobel for Peace Deal
    Jun 25 2025
    Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories. Ceasefire Cheers, Markets Rally Wall Street bounced and gold slumped as President Donald Trump brokered a surprise ceasefire between Israel and Iran—bringing an end to what he called the “12-Day War.” Investors cheered the cooling conflict, triggering a selloff in safe-haven assets. On the Multi Commodity Exchange (MCX), gold futures dropped sharply by ₹2,606 per 10 grams, while global gold prices echoed the dip. But the peace proved shaky—new explosions were reported in Tehran, adding fresh uncertainty. Analysts now expect continued volatility in bullion, with technical indicators flashing a bearish outlook. Trump Nominated for Nobel Peace Prize In a bold political twist, US Congressman Buddy Carter nominated Trump for the Nobel Peace Prize for his “extraordinary and historic” efforts in ending the Israel-Iran standoff. Carter praised Trump’s “courage and clarity” in averting a broader war and halting Iran’s nuclear momentum. While the prize remains far from guaranteed, the nomination adds a headline-grabbing chapter to Trump’s presidency—and could influence the global political narrative. DGCA Flags Grim Safety Lapses India’s skies are under scrutiny. In the wake of the June 12 Air India crash, the Directorate General of Civil Aviation (DGCA) launched a nationwide audit—and found alarming lapses. From repeated aircraft defects to worn-out tyres and faded runway markings, the audit revealed deep cracks in aviation safety protocols. Ground equipment was unserviceable, simulators didn’t match actual aircraft, and obstruction data hadn’t been updated in three years—despite ongoing construction near airports. The DGCA has ordered urgent fixes within a week and vowed continuous monitoring. With air traffic surging, the need for a full-scale aviation safety overhaul is more urgent than ever. Wegovy Enters India’s Obesity Fight Novo Nordisk has officially launched Wegovy in India—a once-a-week injectable weight loss drug targeting adults battling obesity and cardiovascular risks. Priced between ₹17,345 and ₹26,050, Wegovy enters a space already heating up with Eli Lilly’s Mounjaro, launched earlier this year. Unlike diabetes drug Ozempic, Wegovy is FDA-approved specifically for weight loss. The drug mimics appetite-suppressing hormones and boosts insulin sensitivity. Novo Nordisk says it’s focusing on awareness and accessibility rather than immediate sales numbers. As India’s obesity challenge deepens, a pharma face-off is brewing—one pen injection at a time. Hindalco Buys Into High-Tech Alumina Hindalco is going deeper into advanced materials. The Aditya Birla Group’s metals major has announced a $125 million acquisition of U.S.-based AluChem Companies Inc., adding 60,000 tonnes of specialty alumina capacity. AluChem’s products power EVs, semiconductors, and precision ceramics—critical segments in a fast-changing global supply chain. This marks Hindalco’s third U.S. metals acquisition after Novelis and Aleris. MD Satish Pai says the deal is part of a long-term plan to double Hindalco’s specialty alumina output to 1 million tonnes by FY30. “As clean-tech demand rises, AluChem’s chemistry will help us lead,” he said. Learn more about your ad choices. Visit megaphone.fm/adchoices
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    9 m
  • US-India Trade: “Big Deal” Brewing? | India Snubs SCO Statement | From Bombs to Beach Resorts | Apollo’s ₹30K Cr Ambition

    US-India Trade: “Big Deal” Brewing? | India Snubs SCO Statement | From Bombs to Beach Resorts | Apollo’s ₹30K Cr Ambition
    Jun 27 2025
    Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories. Kim Goes Coastal From missiles to mini-golf, North Korea’s Kim Jong Un just flipped the script. The Wonsan Kalma resort, seven years in the making, is finally open—with 54 hotels, waterparks, arcades, pubs, and even a ski extension. Ditching his usual military garb for a sharp suit, Kim attended the launch with his wife and daughter, showcasing a softer image. While domestic tourism kicks off July 1, a select group of Russians are set to test the beach vibes on July 7. This isn’t just a tourism play—it’s a carefully curated global image reset. Trump Teases ‘Very Big’ India Deal Just after shaking hands with China on a trade pact, US President Donald Trump is turning east again—this time towards India. Hinting at a “very big” trade deal, Trump said, “We’re going to open up India.” While no details were given, momentum is building. US Secretary of Commerce Howard Lutnick recently confirmed that both sides are closing in on a mutually beneficial agreement. If signed, it could redefine trade ties between the world’s two biggest democracies. Rajnath Singh Says No Deal India’s Defence Minister Rajnath Singh made headlines by refusing to sign the SCO joint statement. Why? The document failed to address cross-border terrorism. At the summit in Qingdao, Singh didn’t mince words: “There can be no double standards.” He cited the April Pahalgam terror attack, blamed on Pakistan-backed groups, and India’s military response under Operation Sindoor. The message: India is done tiptoeing around terror. Acme Solar’s Big Battery Win Acme Solar is powering up for the future. On June 26, it won NHPC’s battery storage tender in Andhra Pradesh to build a 275 MW / 550 MWh system across Kuppam and Ghani. The project includes significant viability gap funding and adds a clean spark to India’s renewable push. Acme’s stock, while only slightly up, could see brighter days ahead. With a ₹14,954 crore market cap and clean energy tailwinds, Acme is becoming a major storage player. Apollo HealthCo Eyes DMart Dreams “I want a valuation like DMart. Why not?” said Shobana Kamineni, chairperson of Apollo HealthCo. With eyes on a ₹30,000 crore business in the next 5–6 years, Apollo is blending its retail pharmacy strength with digital power via Apollo 24|7. After raising ₹2,475 crore last year and merging with Keimed, the company hit ₹9,093 crore in revenue in FY25, with three straight profitable quarters. A digital GMV of ₹3,000 crore and disciplined growth put it on track for Q4 FY26 profitability. Apollo isn’t just growing—it’s redefining healthcare retail. Learn more about your ad choices. Visit megaphone.fm/adchoices
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    8 m
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