Newsletter
Copper shines bright, TCS gets a regional glow-up, and Africa’s biggest IPO.
🗓️ Morning, folks! ☀️
Okay, before we begin, a quick update. Speaking at the Global Fintech Fest, PM Modi highlighted India’s 7.8% growth and UPI’s growing global reach.
And... we’ll be there too!
As part of Raise Financial Services, we’re all set to attend the world’s largest annual gathering dedicated to fintech and the broader financial services ecosystem from today until September 11.
If you’re in Mumbai and have been following Filter Coffee, come say hi. We’d love to meet you!
Moving on, analog summer is upon us.
Retro tech is making a comeback as people rediscover the charm of gadgets that do less, but feel like more.
From the satisfying click of a typewriter to watching a photo slowly develop in your hands, old-school tech is suddenly cool again, and companies are happily cashing in on the nostalgia.
Think modern boom boxes with Bluetooth, Polaroid-style cameras with digital upgrades, cassette players with USB-C, and even BlackBerry-inspired phones designed to keep you away from social media.
The reason? People are tired of endless notifications, doomscrolling and staring at screens 24/7.
Retro gadgets offer something smartphones can’t: focus, physical experiences and a little bit of imperfection. Turns out, in a world obsessed with the newest tech, sometimes going backwards is the biggest flex.
While old tech is enjoying its comeback, the markets are still waiting for theirs.
The Sensex and Nifty ended the day on a weak note, falling 0.73% and 0.61%, respectively. The Nifty, btw, hit a three-month low.
What dragged the markets? Rising crude oil prices amid ongoing US-Iran tensions. Oil prices hit a six-week high, rising for the third straight day to around $98 per barrel. A fall in real estate and IT stocks also contributed heavily to the market decline.
💡 Spotlight: Copper’s having a party 🎊
Hindustan Copper shares jumped as much as 5% on Tuesday as copper prices hit a fresh record high.
The reason is fairly simple: when copper prices rise, companies that produce and sell copper can earn more from every tonne they sell.
So, why is copper getting so expensive? Demand is rising rapidly from electric vehicles, renewable energy projects, power grids and AI data centres. At the same time, supply disruptions at major mines have raised fears that production may not keep pace with demand.
The latest rally has also been fuelled by tight global supplies and expectations of fresh US tariffs on refined copper imports.
The bigger picture: India is expected to become the world’s second-largest copper-consuming region after China by 2035.
Let’s hit it! 💪🏻
1 Big Thing: TCS expands its Odisha AI play 🤝
Tata Consultancy Services (TCS) has won a ₹122.6 crore contract to implement the next phase of the Odisha State Workflow Automation System (OSWAS), extending its partnership with the Odisha government by around six years.
OSWAS is the Odisha government’s digital system for processing files, correspondence and administrative work.
The deets: TCS will implement OSWAS 3.0, bringing workflow automation, system integration, analytics, security and AI capabilities onto a common digital platform. Today, the system is used across more than 4,600 government offices by nearly 50,000 users across Odisha.
What changes with OSWAS 3.0: the upgraded platform will add AI-enabled features, a mobile-first design and support for the Odia language.
It will also integrate with other government systems, giving departments a common digital workplace for administrative tasks.
Zoom out: TCS has been stacking up deals and AI partnerships. In Q1FY27 alone, its total contract value stood at $9.5 billion, including an $800 million SKF deal, while its AI revenue run rate hit $2.6 billion.
2. Biocon-Brazil join hands against cancer 🤝
Biocon shares jumped after it announced a 10-year deal with Bahiafarma and Brazilian biotechnology company Bionovis for Pertuzumab in Brazil.
Pertuzumab is an antibody used to treat HER2-positive breast cancer and is currently not manufactured locally in Brazil.
Bahiafarma is a public pharma laboratory in Brazil focused on research, innovation and the production and supply of medicines.
The partnership aims to advance the local production and commercialisation of the therapy.
The bigger picture: according to World Health Organisation, breast cancer caused an estimated 694,000 deaths globally in 2024 and was the most common cancer among women in 164 of 186 countries.
Why Brazil matters: Brazil is Latin America’s largest healthcare market, spending around 9.7% of its GDP on healthcare, equivalent to roughly $135 billion.
3. Deal frenzy 🥳
Circle Internet Group, the fintech firm behind the USDC stablecoin, has signed an agreement to acquire Tazapay, a Singapore-based cross-border payments company.
Stablecoins are cryptocurrencies designed to maintain a stable value by being tied to an asset, such as a currency like the US dollar.
What’s brewing: the acquisition will add more than $25 billion in annualised payment volume, over 60 banking and fintech partners, and local payout capabilities across more than 100 markets.
Why it matters: roughly 60% of Tazapay’s transaction volume already involves stablecoins. The acquisition will expand Circle’s ability to move money globally, nearly instantly and around the clock.
FYI: Tazapay has raised nearly $60 million in funding from investors, including Surge and Peak XV Partners.
More on deals 👍🏻,
Qualcomm has announced a data centre infrastructure partnership with Amazon Web Services (AWS), as it looks to expand beyond smartphones and challenge Nvidia in the AI chip market.
Qualcomm is best known for making processors that power smartphones and other mobile devices.
What’s happening: Qualcomm will work with Amazon on customised chips to power AWS’ AI infrastructure, particularly chips used to run AI models after they’ve been trained.
The company is targeting $15 billion in data centre sales by FY2029 and is developing technology that can connect multiple chips to handle larger AI workloads.
4. Mirzapur takes its OTT fandom to theatres 🎬
Mirzapur started as a Prime Video series in 2018. Eight years later, it has made the jump to theatres.
Mirzapur: The Movie crossed ₹150 crore worldwide in four days, showing that OTT fandom can potentially convert into box-office demand too.
The bigger play is the franchise itself. Amazon and Excel can now revisit old timelines, bring back popular characters and keep expanding the Mirzapur universe beyond streaming.
5. Festivals be bringing the cash 💰
Diwali gets all the credit, but creators make more money off everything else combined.
51% of festive creator activity happens outside Diwali, spread across Navratri, Durga Puja, Ganesh Chaturthi and regional festivals.
And it’s not the celebrities cashing in: nano and micro creators cornered 75% of all festive brand deals last season, while mega creators and A-listers got just 5%.
6. Stocks that kept us interested 🚀
What went up ⬆️
🚀 GE Vernova T&D jumped over 8% after emerging as the lowest bidder for Power Grid’s 6,000 MW HVDC (high-voltage direct current) project.
🥶 Symphony gained nearly 7% after expanding into air conditioners, ceiling fans and air purifiers market.
📈 Sai Life Sciences climbed over 4%, taking the stock’s 2026 gains to nearly 84% so far.
🚀 Raymond surged over 12% ahead of its board meeting to consider a potential fundraise.
🔥 HAL, BEL, Paras Defence, BEML and Astra Microwave rose up to 4% after the Defence Acquisition Council approved ₹1.10 lakh crore worth of defence proposals.
What went down ⬇️
📦 Shiprocket slipped despite its Q1 revenue rising 34% YoY to ₹592 crore, driven by strength in its core business.
😮💨 Suzlon Energy ended in the red despite securing its first 200 MW wind power order from Ayana Renewable Power for projects in Madhya Pradesh and Andhra Pradesh.
What else are we snackin’ 🍿
📡 6G alliance: India joined the US and 24 other countries in a global initiative to help shape the development of next-generation 6G networks.
😎 Get ready: India will host the 18th BRICS Summit in New Delhi on September 12-13, bringing together major emerging economies and global leaders.
🔬 Freshly brewed: HCLTech launched a ₹185 crore semiconductor lab in Bengaluru for advanced chip testing, engineering and failure analysis.
🛰️ Space win: GalaxEye secured a US patent for its satellite imaging technology, becoming the first Indian startup to secure such a patent.
🪙 Tokenised bond: L&T plans to raise ₹500 crore through tokenised bonds, potentially becoming the first private-sector company in India to do so.
👀 Woah, what: Africa’s richest man Aliko Dangote plans to raise at least $1.6 billion by listing his refinery in Africa’s biggest-ever IPO.
That’s a wrap! Don’t let the weekday blues get to you.
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Disclaimer: This newsletter is for informational and research purposes only. Nothing here should be considered financial, investment, legal, or professional advice.
