Author: Eqwires

The Indian government has recently approved Elon Musk’s proposal to bring Starlink services to India. While the company may take some time to activate services in the country, it is surely a turning point for the internet in India. Why? Starlink, already available in 100 countries, is a satellite broadband initiative from SpaceX, and is on a mission to revolutionise internet connectivity by beaming high-speed access from space. Now that it is coming to India, the internet will reach every nook and corner of the country.

With a nod from the ministry, Starlink has joined an exclusive group of just three firms, alongside OneWeb and Reliance Jio, to secure a crucial step towards offering satellite-based telecom services in India. The company has already been issued a Letter of Intent (LoI) by the Department of Telecommunications, which serves as an initial go-ahead from the authorities.

However, before it can begin rolling out its satellite internet infrastructure across the country, Starlink must now obtain a crucial clearance from the Indian National Space Promotion and Authorisation Centre (In-SPACe). This approval from the national space regulator is essential before the company can commence trial operations and be allotted provisional spectrum. So, now the question is: When will Starlink launch in India?

While the exact date of the roll out is not official yet, we have enough information to assume. Before we deduce that, let’s circle in what we know so far. Starlink has been awaiting regulatory approval to begin commercial operations in India since 2022. However, the process has been held up by various factors — including concerns related to national security, according to a report by Reuters.

On May 7, it took a major step towards launching its services in India after receiving a Letter of Intent from the Department of Telecommunications. Now, with a vital regulatory licence secured, Elon Musk’s satellite internet venture is poised to kick off operations on Indian soil.

Starlink has made no secret of its eagerness to begin. While a fourth contender, Amazon’s Kuiper, is still awaiting the necessary approvals to launch its satellite internet services in India, the reports indicate that once Starlink submits its application for trial spectrum, it is likely to be granted within 15 to 20 days.

Earlier this year, the company quietly entered into unexpected partnerships with two of India’s largest telecom players, Reliance Jio, led by Mukesh Ambani, and Bharti Airtel, to support its local rollout.

Starlink India pricing

According to a media report published last month, Starlink is expected to roll out plans starting at just $10 a month, which translates to roughly Rs 850, positioning it among the most budget-friendly satellite internet offerings worldwide. This pricing strategy aligns well with the Indian market, where affordability and high performance are often key to consumer uptake.

These competitively priced packages, which may even offer unlimited data, are likely to accelerate Starlink’s growth across the country. The company is reportedly aiming to attract as many as 10 million users as it establishes its presence in India.

How does Starlink work?

Starlink aims to provide high-speed internet, even in places where there is no network. But how does it do it? Instead of relying on traditional ground-based infrastructure such as fibre or cable, Starlink uses a vast constellation of low Earth orbit satellites to deliver fast and stable internet, particularly to regions where conventional services are patchy, slow or entirely unavailable.

By transmitting data directly between satellites and ground stations, it effectively sidesteps many of the limitations that plague traditional broadband networks, offering a lifeline to rural and remote communities across the globe.

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Sectors such as banking, NBFCs, real estate, and automobiles are expected to be the key beneficiaries of the current easing interest rate environment, according to a report by Nexedge Research.

The report mentioned that with borrowing costs on a downward trend, these rate-sensitive segments are likely to witness stronger credit flow, lower financing costs, and improved demand conditions.

It said, “Banking, NBFCs, real estate, and automobiles are well positioned to benefit from lower borrowing costs.”

The report also noted that the Indian economy is entering a phase marked by benign inflation and ample liquidity, creating a sustained low-interest rate backdrop. This is already evident in the falling money market rates and a notable softening in the 10-year government bond yield.

The report mentioned that the decline in yields has boosted bond prices and improved return prospects for fixed-income investors.

It said, “Money market rates and bond yields are trending lower, with the 10-year G-sec yield already softening, boosting bond prices and supporting fixed-income returns.”

The report highlighted that inflation is currently hovering near the lower end of the Reserve Bank of India’s target range of 2-6 per cent. With the RBI maintaining a neutral policy stance, the market is beginning to price in the possibility of further rate cuts.

This combination of falling inflation and proactive monetary easing is seen as supportive for both equity and bond markets.

The report suggested that these factors together are strengthening the medium-term macro outlook, offering a positive backdrop for investors and further momentum for India’s economic growth.

The RBI’s Monetary Policy Committee on Friday cut the repo rate by 50 basis points to 5.50 per cent . This larger-than-expected cut marks the third consecutive reduction in 2025, totalling 100 bps of easing since February.

Consequently, the Standing Deposit Facility rate stands adjusted at 5.25 per cent, and the Marginal Standing Facility rate and Bank Rate are set at 5.75 per cent.

The RBI has also reduced CRR by 100 bps to augment durable liquidity in the banking system.

This CRR cut will be implemented in phases beginning September 6, , and November 29, 2025, and is expected to release roughly ₹2.5 trillion of liquidity by November 2025, bolstering bank lending capacity.

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Indian stock market witnessed a broad-based buying, which lifted Indian stock market benchmarks—the Sensex and the Nifty 50—by more than 1 per cent each in intraday trade on Thursday, June 5.

However, the key indices trimmed their gains to end around half a per cent higher, marking the second straight session of gains.

The Sensex opened at 81,196.08 against its previous close of 80,998.25 and jumped over 900 points, or 1 per cent, to an intraday high of 81,911.13. The Nifty 50 opened at 24,691.20 against its previous close of 24,620.20 and jumped over a per cent to an intraday high of 24,899.85.

Finally, the 30-share pack Sensex ended 444 points, or 0.55 per cent, higher at 81,442.04, and the Nifty 50 closed the day with a gain of 131 points, or 0.53 per cent, at 24,750.90.

The BSE Midcap and Smallcap indices also rose by 0.39 per cent and 0.65 per cent, respectively.

The overall market capitalisation of firms listed on the BSE rose to nearly ₹448 lakh crore from ₹445 lakh crore in the previous session, making investors richer by about ₹3 lakh crore in a single session.

What drove the Indian stock market higher?

Experts highlight the following five reasons that may have triggered healthy buying in the Indian stock market:

1. RBI rate cut hopes

The market expects a 25 bps rate cut from the Reserve Bank of India along with a favourable projection of growth and inflation estimates. The Monetary Policy Committee (MPC) of the RBI began its three-day huddle on June 4, and its outcome is due on June 6.

However, some experts believe the central bank may go for a bigger rate cut of 50 bps on June 6.

“We expect a 50-basis point rate cut in June’25 policy as a large rate cut could reinvigorate a credit cycle,” said an SBI Research report released on Monday, 2 June 2025. “Cumulative rate cut over the cycle could be 100 basis points,” EBI Research’s experts said.

While a 25 bps rate cut is fairly discounted in the market, a bigger cut would be a strong short-term catalyst that can significantly boost domestic market sentiment.

2. Weakness in the US dollar, bond yields

Weakness in the US dollar and bond yields amid signs of a slowdown in the US economy influenced sentiment in emerging markets, including India.

A weaker dollar and declining bond yields make emerging markets like India attractive for foreign investors. After selling Indian equities in the cash segment for the last few days, foreign institutional investors (FIIs) bought Indian stocks worth ₹1,076.18 crore in the previous session.

“The major economic news is the sharp dip in the US ISM PMI data. This indicates that the US economy is slowing down sharply. The US 10-year bond yield has declined to 4.36 per cent and, given the slowing US economy, is likely to trend lower. This will turn out to be good for emerging markets like India in the medium term, but the spike in uncertainty will keep the market within the present range for the near-term,” said VK Vijayakumar, Chief Investment Strategist, Geojit Investments.

3. India-US trade deal could be near

According to media reports, US Secretary of Commerce Howard Lutnick signalled that a trade deal between the US and India could be near.

Speaking at the US-India Strategic Partnership Forum Annual Leadership Summit on Monday, Lutnick said that while trade deals usually took two-three years, the US is trying to close them within a month.

4. Rupee’s rise against the dollar

Rupee’s rise against the US dollar also influenced domestic market sentiment. According to Bloomberg data, the domestic currency strengthened by about 23 paise to 85.68 per dollar in intraday trade on June 5.

5. Favourable growth-inflation dynamics

Experts say the underlying market sentiment remains positive due to a bright growth outlook of the Indian economy amid expectations of an above-normal monsoon and easing inflation.

“We see a confluence of nine structural drivers likely to position India for sustained strong economic and corporate earnings growth,” said Amish Shah, Head of India Research, BofA Securities.

Shah pointed out that “India ranks as the second country globally, after the US, to deliver the best market returns globally over the past three decades (7 per cent CAGR in USD terms), with growth driving a large share of its stock returns rather than valuation expansion.”

India ranks as the top country globally to provide a high number of stock compounders, a trend we expect to continue. However, we are cautious on markets near term as valuations seem full and markets are ignoring risks of likely slowing global growth,” Shah added.

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June 5 (Reuters) – Procter & Gamble (PG.N), opens new tab said on Thursday it would cut 7,000 jobs, or about 6%, of its total workforce over the next two years, as part of a new restructuring plan to counter uneven consumer demand and higher costs due to tariff uncertainty.

The world’s largest consumer goods company also plans to exit some product categories and brands in certain markets, executives said at a Deutsche Bank Consumer Conference in Paris, adding the program could likely include some divestitures without giving detail.

The Pampers maker’s two-year restructuring plan comes when consumer spending is expected to remain pressured this year, and global consumer goods makers including P&G and Unilever (ULVR.L), opens new tab brace for a further hit to demand from even higher prices.

“This is not a new approach, rather an intentional acceleration of the current strategy…to win in the increasingly challenging environment in which we compete,” executives said.

President Donald Trump’s sweeping tariffs on trading partners have roiled global markets and led to fears of a recession in the U.S., the biggest market for P&G. The company imports raw ingredients, packaging materials and some finished products into the U.S. from China.

Trump’s trade war has cost companies more than $34 billion in lost sales and higher costs, a Reuters analysis showed, a toll that is expected to rise.

In April, the Tide detergent maker said it would raise prices on some products and that it was prepared to pull every lever in its arsenal to mitigate the impact of tariffs.

Pricing and cost cuts were the main levers, CFO Andre Schulten had said then.

On Thursday, Schulten and P&G’s operations head Shailesh Jejurikar acknowledged that the geopolitical environment was “unpredictable” and that consumers were facing “greater uncertainty.”

The company had about 108,000 employees as of June 30, 2024, and said the job cuts would account for roughly 15% of its non-manufacturing workforce.

P&G added that the restructuring plan would help simplify the organizational structure by “making roles broader” and “teams smaller”.

The plans to divest certain brands will also help adjust its supply chain in order to reduce costs, P&G said.

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Shares of Dr. Reddy’s Laboratories surged 4 percent on Thursday amid a rally in the broader market. 
The company’s announcement of a strategic collaboration with Alvotech to co-develop, manufacture, and commercialize a biosimilar version of Keytruda (pembrolizumab) for global markets helped the stock to trade in the green today. Adding to the momentum, HSBC upgraded Dr. Reddy’s to a ‘Buy’ from ‘Hold’, and raised its target price to Rs 1,445, up from Rs 1,235. 

The pharma stock rose 4% to Rs 1303.45 against previous close of Rs 1252.15 on BSE. Market cap of the firm climbed to Rs 1.07 lakh crore on BSE.

The stock has gained 11% in a year and risen 40.18% in two years. 

The share stands higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day and 200 day moving averages. 

Keytruda is a immunotherapy drug for the treatment of various cancers. It clcoked global sales of $29.5 billion in 2024. The collaboration brings together the biosimilar expertise of both companies and is likely to accelerate development timelines while broadening the global reach of the product.

Development, manufacturing, and commercialization of the drug will be handled collaboratively by Dr. Reddy’s and Alvotech, with shared expenses and responsibilities, according to the agreement. Both businesses will also be able to sell the biosimilar abroad, barring specific circumstances.

Meanwhile, according to broker HSBC’s statement, the type-2 diabetes medication semaglutide is anticipated to dramatically increase the company’s earnings per share (EPS) in key markets within a year after launch.

For semaglutide, the brokerage views Canada, Brazil, and India as important target markets where supply is now limited but demand is still high. In contrast to other generics, HSBC does not anticipate a significant drop in Semaglutide prices as a result of ongoing demand. Over the next two to four years, it predicts that the Semaglutide opportunity in these areas may almost treble.

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