Newsletter
India’s manufacturing powers up, HDFC Bank woes, and Jio Platforms’ IPO.
🗓️ Morning, folks and Happy Mondayyyy! ☀️
Italian brainrot has gone from meme to courtroom drama. 🤯
Characters like Tung Tung Sahur and Ballerina Cappuccina, AI-generated, absurd and wildly popular with kids are now at the centre of a California legal battle.
The maker of the hit Roblox game Steal a Brainrot argues that AI-generated characters cannot be copyrighted, while a French startup representing the young creators says the humans behind the prompts deserve a cut.
At stake: potentially millions in licensing revenue. But the bigger story is who owns something made with AI?
As AI turns a few prompts into characters, songs and stories, courts are being forced to figure out where ‘AI-generated’ ends and ‘human creativity’ begins.
The brainrot fight is essentially an early test of a much bigger question: if your idea, prompts and creative direction turn into a viral IP through AI, do you own what comes out the other side?
From brainrot to business 💸
Dalal Street had a tough time last week. So, what should you watch out for this week?
First, India’s Q1FY27 GDP data and the health of the global economy will likely influence market sentiment.
Investors will also keep an eye on August’s manufacturing and services PMI numbers, GST collections, foreign exchange reserves, and movements in the rupee.
💡 Spotlight: India’s manufacturing muscle continues to grow 💪
India’s factories and industries continued to pick up pace in July, with industrial production growing 6.7% from a year ago. That was slightly slower than the 7.3% growth recorded in June.
What drove the growth: Manufacturing and electricity production remained strong, helping make up for another decline in mining output.
Manufacturing, which makes up the biggest chunk of India’s Index of Industrial Production (IIP), grew 7.3% in July. Of the 23 manufacturing categories tracked, 19 recorded growth.
Electrical equipment led the pack with 28.3% growth, followed by motor vehicles and trailers at 22.2%, and general industrial machinery at 12.1%.
Meanwhile, India’s nine core industries, which include key sectors such as coal, steel, cement and electricity, grew 5.4% in July, slowing from 6% in June.
Why it matters: these core industries make up around 40% of the revised IIP, so their performance gives us a good sense of how India’s broader industrial economy is doing.
Let’s hit it! 💪🏻
1 Big Thing: What’s going on with HDFC Bank? 😓
Sashidhar Jagdishan will step down as the Managing Director and CEO of HDFC Bank after deciding not to seek another term.
The bank said its board had sought to persuade him to continue, but he decided against seeking reappointment.
The deets: Jagdishan took over as HDFC Bank’s MD and CEO on October 27, 2020, succeeding Aditya Puri. His tenure included the completion of the merger between HDFC Bank and Housing Development Finance Corporation (HDFC), one of the largest corporate mergers in India.
What now: the process to appoint the next Managing Director and Chief Executive Officer of HDFC Bank will be completed ‘well within time’, top sources told CNBC-TV18.
What’s at stake: this surprise resignation will test whether India’s largest private-sector lender can restore investor confidence and move past recent governance concerns.
It also comes as the lender confronts a slew of issues that have placed its governance practices under intense scrutiny. The first major shock came in March, when HDFC Bank Chairman Atanu Chakraborty resigned.
Last year, the bank was barred from onboarding new customers at its Dubai branch after a local regulator flagged process lapses.
Just a couple of days ago, the lender was also in the spotlight following reports of a US lawsuit against the bank and two senior executives, accusing them of misleading investors and failing to disclose governance issues.
What the market will watch: who takes charge, how smoothly the transition unfolds, and whether the new leadership can maintain the bank’s growth trajectory and governance standards.
2. India’s defence cart gets Javelin missiles 🔥
India is really upping its defence game. It plans to procure the US-made Javelin anti-tank missile system, according to US Ambassador to India Sergio Gor, as the two countries look to expand defence cooperation.
What’s happening: the US State Department approved a possible Foreign Military Sale of the Javelin system and related equipment to India for an estimated $45.7 million in November 2025.
What is a Javelin missile: the Javelin is a portable anti-tank missile system jointly developed by Lockheed Martin and RTX. Designed to destroy armoured targets, it is widely used by the US military and allied forces.
The US and India signed a framework for a major defence partnership last year. The agreement is aimed at strengthening interoperability across land, sea, air, space and cyberspace.
3. India-US LNG bonhomie fuels up 🚀
Qatar sent India zero LNG this month. Six months ago, it supplied nearly half the country’s gas.
The Strait of Hormuz has been effectively shut since the Iran-US war, trapping roughly 20% of daily global LNG flows and choking Gulf exports.
India’s buyers scrambled to diversify, but the switch isn’t free. Qatar’s contracts were oil-indexed and steady; US LNG is priced off Henry Hub, plus longer freight, plus insurance for riskier sea lanes.
4. Stocks that kept us interested 🚀
What went up ⬆️
📞 Just Dial hit the 10% upper circuit as its new CEO took charge.
🛵 Ather Energy jumped nearly 8% after a ₹1,758 crore block deal, with Hero likely raising its stake by 3%.
📡 Tejas Networks surged 10% after receiving a ₹1,537 crore LOI from TCS for the BSNL 4G rollout.
🤖 Coforge expanded partnership with Pega to accelerate enterprise AI transformation, stock up 5%.
🤝 Wipro surged more than 2% after expanding its Google Cloud AI partnership.
What went down ⬇️
🔻TVS Motor slipped nearly 3% after the company announced that CEO KN Radhakrishnan’s term will end in January 2027.
📉Tata Steel fell 0.75% amid heavy trading volumes in Friday’s session.
What else are we snackin’ 🍿
📈 Green light: Jio Platforms received SEBI approval for its IPO, moving what could become India’s largest-ever listing a step closer.
🫡 Fuel lifeline: India emerged as a key petrol supplier to Russia as Ukrainian drone attacks disrupted refineries, pushing Russian fuel imports higher.
☀️ Solar order: Waaree Renewable secured a 291 MWp solar project with 280 MWh battery storage, with completion scheduled for FY28.
🌱 D-street ready: Sembcorp Green Infra filed its DRHP for a ₹3,750 crore fresh-issue IPO, largely to repay borrowings and expand its renewable energy portfolio.
🚀 Flying high: IndiGo Ventures invested in sovereign AI startup Sarvam’s Series B round, combining IndiGo’s operational scale with Sarvam’s AI capabilities.
🥳 New ride: Ather Energy launched its new e-scooter, Konarc, at a starting price of ₹99,999, adding another option to India’s growing EV market.
That’s a wrap! Don’t let the Monday blues get to you.
And if you’d like to place your brand on this newsletter, let us know.
Hit that 💚 if you liked this issue.
Disclaimer: This newsletter is for informational and research purposes only. Nothing here should be considered financial, investment, legal, or professional advice.
