Top of the Morning

Good Morning, I'm Nelson John. On today's Top of the Morning: India just filed for its biggest IPO ever, as the NSE goes public at a ₹5 trillion valuation. A little known businessman is sitting on a ₹5,800 crore fortune from one early Jio bet. Meta is dropping $900 million on Cred and handing its founder the keys to WhatsApp. The telecom department says no to cheaper spectrum. And the milk in your fridge has quietly become much harder to fake-check. 15 minutes, five stories, zero fluff. Tap play. Learn more about your ad choices. Visit megaphone.fm/adchoices

Oil is cooling after the US and Iran agree on a roadmap, but India's relief may be slow to arrive. Jaguar Land Rover writes its biggest ever dividend cheque in a year it falls into the red. Swiggy's founders buy a small stake in India's first space unicorn. A ₹7 trillion pool sits barely touched in Reits and InvITs. And the everyday credit card swipe that quietly chips away at your savings. Nelson John walks you through five stories shaping India's markets this morning. Learn more about your ad choices. Visit megaphone.fm/adchoices

Good Morning, I'm Nelson John.. The IPO India has waited nearly ten years for is finally moving. Today, the NSE files its draft papers, with a dozen big investors lining up to sell and LIC the name to watch. We also unpack the quiet income hit landing on small mutual fund distributors, NMDC's push to build a future beyond iron ore, why auto suppliers are packing more value into every vehicle, and a low-key standoff between Jio and Airtel over unused 5G airwaves. Plus the morning's headline roundup, from market mood and foreign outflows to the RBI's dollar push and SpaceX's Nasdaq debut. Learn more about your ad choices. Visit megaphone.fm/adchoices

Good Morning, I'm Nelson John, and on Top of the Morning today every story is about a trade-off. Letting go of one risk to take on another. India is considering pushing ethanol blending past E20, all the way to E85 and E100 flex fuel cars. The savings on crude imports are real. But farmers are already switching from oilseeds and pulses to maize, rice and cane. India's edible oil and pulses import bill is bigger than a decade of ethanol savings. That tension is now on the table. UK insurer Prudential is rewriting its India strategy. After more than 20 years inside ICICI Prudential Life, it is cutting that stake to 10 percent and acquiring 75 percent of Bharti Life Insurance for ₹3,500 crore. The trigger is the new 100 percent FDI cap in insurance. Allianz, Chubb, Old Mutual and others are all reassessing. The map is being redrawn. Then the ₹3 per litre fuel hike, the sharpest in four years, lands right as kharif sowing begins. Diesel powers 40 percent of farm activity in India. The ripple into food inflation has already started. Apple has reportedly signed a preliminary deal with Intel to manufacture some of its chips. The story behind it is Nvidia overtaking Apple as TSMC's biggest customer, and the US government pushing chip production back onto American soil. And JSW Steel, through joint ventures with Japan's JFE and Korea's POSCO, is on course to hit 80 million tonnes capacity by 2032. That would make it the largest steelmaker outside China. Learn more about your ad choices. Visit megaphone.fm/adchoices