Zomato’s Deepinder Goyal Sets Sights on Regional Aviation with LAT Aerospace

After revolutionizing food delivery in India, Zomato co-founder Deepinder Goyal is now turning his attention skyward. Goyal is backing LAT Aerospace, a startup aiming to transform regional air travel across the country, according to a LinkedIn post by LAT co-founder Surobhi Das.

Goyal’s venture comes at a time when regional aviation is still in its infancy, grappling with regulatory hurdles, evolving technology, and the question of widespread adoption. But the opportunity is massive.

“While building Zomato and flying across India, Deepinder and I kept circling back to the same question: Why is regional air travel still so broken—expensive, infrequent, and mostly inaccessible unless you live in a metro?” Das shared.

India is home to 450 airstrips, yet only about 150 currently see commercial flights. “That means nearly two-thirds of our aviation potential is being wasted,” Das said. Millions of people in Tier 2 and Tier 3 cities still spend hours—or days—traveling by road or rail.

A Vision for Affordable, Frequent Air Travel

With LAT Aerospace, Goyal and Das want to reimagine short-haul flying as simple and convenient as hopping on a bus.

“Think buses in the sky—affordable, high-frequency, and designed to connect the places the airline industry has overlooked,” Das explained.

The startup plans to operate small aircraft from compact “air-stops”—airfields no larger than a parking lot, built closer to where people live. The aim is to eliminate the chaos of traditional airports and make flying as seamless as possible.

“No chaos. No security lines. Just walk in and fly,” Das said.

If successful, LAT Aerospace could unlock the untapped potential of India’s regional air infrastructure and bring faster, more affordable connectivity to millions.

Stay tuned as this ambitious project takes flight.

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India’s Telecom Duopoly Driven by Market Dynamics, Not Policy: Minister

India’s telecom landscape, often criticized for being a duopoly dominated by Reliance Jio and Bharti Airtel, is shaped more by market realities than by government policy, according to Chandra Sekhar Pemmasani, Minister of State for Communications. Speaking at the India Mobile Congress (IMC) 2025 roadshow in Bengaluru, Pemmasani emphasized that the sector’s capital intensity has naturally led to consolidation.

“The duopoly has not been created intentionally by anybody. Telecom requires massive capex,” he noted, highlighting how Reliance Jio and Airtel’s ability to deploy significant capital allowed them to roll out services nationwide. “Because of them, we were able to achieve the fastest 5G rollout in the world.”

Despite the current market structure, Pemmasani stressed that the government does not envision a two-player market. “We need four to five telecom companies,” he said. To that end, the government converted nearly ₹36,000 crore of Vodafone Idea’s dues into equity, though the company continues to face challenges and regularly seeks support.

BSNL Revival and Homegrown Tech

The minister reiterated the commitment to revive Bharat Sanchar Nigam Ltd (BSNL) as part of a broader push for indigenous technology.

“BSNL’s revival is taking longer because we are also focused on building homegrown solutions. But eventually, BSNL will become a strong alternative,” he said.

India Eyes Leadership in 6G

Looking ahead, India is determined not to miss out on shaping the next generation of telecom standards.

“With 2G, 3G, 4G, and even 5G, India was not part of the global standard-setting process. But with 6G, we’ve already contributed to about 10% of the global standards and filed over 200 patents,” Pemmasani shared.

Globally, countries like China and the US aim to roll out 6G by 2030, and India plans to launch services in parallel.

Connectivity Milestones

With 1.2 billion mobile subscribers, 1 billion broadband users, and over 2.2 lakh villages connected via BharatNet, India has made significant progress in bridging the digital divide.

“We are investing an additional $18 billion to connect 40,000 more gram panchayats and 1.5 crore rural households with high-speed internet,” he said.

He also highlighted India’s transformation into a manufacturing hub: “From importing 75% of our mobile devices, we are now exporting ₹1.8 trillion worth of devices annually.”

Supporting Startups and Tackling AI Risks

Through the Telecom Technology Development Fund, nearly ₹500 crore has been deployed to support 120 high-tech startups. Pemmasani acknowledged that emerging technologies like AI will be both transformational and challenging.

“AI can enable fraud, but it can also empower citizens. For example, telecom has developed a financial fraud risk indicator to proactively profile users by risk and prevent fraud,” he explained.

As India accelerates toward 6G and deepens rural connectivity, the government plans to adapt regulations to keep pace with rapid technological change.

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HDB Financial Services IPO Listing: All You Need to Know

Shares of HDB Financial Services, the non-banking finance arm of HDFC Bank, are all set to make their stock market debut on July 2, 2025. Investors and market watchers are keenly awaiting whether the listing will see a premium opening.

Robust Subscription Demand

The ₹12,500 crore IPO attracted strong interest, closing with a subscription of 16.69 times on the final day of bidding last Friday. Institutional buyers played a major role in driving demand.

IPO Details

  • Price Band: ₹700–₹740 per share
  • Anchor Book: Ahead of the public issue, HDB Financial raised ₹3,369 crore from anchor investors, underscoring confidence in the company’s growth story.

Use of Proceeds

The funds raised through this IPO will be primarily used to bolster the company’s Tier-I capital base, enabling HDB Financial to expand its lending book and meet future capital requirements to support business growth.

Market Buzz

Ahead of listing, HDB Financial shares were already in focus. As of 3:08 PM today, the stock was trading at ₹841.20 on the NSE, up 0.74%, taking the company’s market capitalisation to nearly ₹69,800 crore.

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Oil & Gas Market Update: OPEC+ Supply Hike Weighs on Prices as Outlook Weakens

OPEC+ Ramps Up Output

Oil prices remain under pressure as traders digest OPEC+’s latest move to boost supply. The group plans to increase production by 411,000 barrels per day (bpd) in August, bringing total 2025 additions to 1.78 million bpd—more than 1.5% of global oil demand.

This fresh wave of supply comes just as global trade uncertainty and slowing economic growth weigh on demand expectations.

Brent crude briefly surged past $80 per barrel amid geopolitical tensions but has since fallen back to around $67. Morgan Stanley now forecasts Brent will slide further to $60 by early 2026, citing a likely supply surplus of 1.3 million bpd and easing geopolitical risks.


Natural Gas: Rangebound and Vulnerable

Natural gas futures are struggling to find direction, currently hovering near $3.466. Prices remain pinned below both the 50-day EMA ($3.612) and the 200-day EMA ($3.779), highlighting persistent bearish pressure.

After failing to hold above the 0.236 Fibonacci retracement at $3.568, the market looks increasingly fragile. If support at $3.400 gives way, a further drop toward $3.301 and $3.183 could follow.

To regain any bullish momentum, gas would need a decisive rebound above $3.574. Until then, traders should expect continued consolidation and potential downside.


WTI Crude Oil: Consolidation After Steep Decline

WTI crude remains capped below $67.08, trading in a narrow band between $64.00 and $67.00 following a sharp pullback from $77.12.

Repeated failures to reclaim the 23.6% Fibonacci retracement level reinforce a bearish bias. Prices are also sitting under both major EMAs, further signaling weakness.

If WTI closes below $64.00, the door opens to declines toward $63.00 and $61.80. A sustained move above $67.16 would be needed to challenge the current downtrend.


Brent Crude: Stuck in Tight Range with Downside Risk

Brent crude is locked in consolidation near $67.91 after tumbling from a recent high above $80. The price remains firmly under the 50-EMA ($70.76) and 200-EMA ($70.47), keeping selling pressure intact.

Every bounce attempt has been capped by resistance around $69.93, showing a lack of conviction among buyers.

The market is ranging between $66.75 and $69.90. A break below $66.75 could open the way for a deeper move toward $64.96 and $63.48. Conversely, only a decisive close above $70.00 would signal a potential recovery.


Outlook

Overall, oil and gas markets are grappling with rising OPEC+ supply, softening demand, and renewed trade tensions. Until these headwinds clear, the bias for both crude and natural gas remains tilted to the downside.

Traders should watch for key support and resistance levels to gauge the next decisive move.

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Markets Close Mixed After a Choppy Session; Nifty Holds Above 25,500

Indian equities remained volatile throughout Tuesday’s session, with the Nifty 50 oscillating between 25,520 and 25,255. The Sensex, which at one point rose over 200 points, ended with a modest gain of 91 points at 83,697. The Nifty settled 29 points higher at 25,546.

Broader markets underperformed, with the Midcap and Smallcap indices snapping their recent winning streaks. The Midcap index slipped 23 points to close at 59,719, ending a seven-day rally.

Among key movers, Gabriel India surged 20% to hit the upper circuit after announcing a restructuring plan. Apollo Hospitals also gained 3.5%, topping the Nifty gainers list, as investors cheered its restructuring exercise.

In the auto space, Bajaj Auto reported weaker-than-expected June sales, weighing on sentiment. Tata Motors closed lower, while M&M and Eicher Motors ended in the green.

Reliance Industries advanced nearly 2% to a nine-month high after a positive brokerage note. Meanwhile, Karur Vysya Bank gained over 2% following a strong Q1 update.

The Nifty PSU Bank index extended its positive run, closing higher for the sixth straight day, though the index had briefly snapped its rally during intraday trade.

Other notable movers:

  • Dixon Technologies dropped nearly 2% after Morgan Stanley downgraded the stock.
  • NMDC fell almost 3% after announcing price cuts for lumps and fines.
  • Sigachi Industries extended its decline, losing 17% over two sessions after a fire at its Telangana plant.

Today’s moves came amid the weekly expiry of Sensex contracts, a factor that often drives intraday volatility. Market breadth was evenly balanced, with the advance-decline ratio at 1:1.

Looking ahead, Monday’s high of 25,662 and low of 25,474 will serve as key technical levels for the Nifty. Any fresh developments in India-US trade talks could also act as a catalyst in the coming sessions.

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