🤖 Tesla Taxis Roll Out + 📉 Sensex Sinks 511

🌞 Good morning, Masala Crew!

It’s Tuesday, and the markets are swinging harder than a Delhi auto in traffic. From oil fears and robotaxis to IPO dreams and nuclear revivals, it’s a wild world out there. But don’t worry—we’ve boiled it all down so you don’t spill your chai.

Here’s what’s brewing this morning 👇

☕ Chai Shots

• 📉 Markets rattle as US-Iran tensions escalate: The Sensex plunged 511 points and the Nifty slid below 25K after the US carried out strikes on Iran’s nuclear facilities. While blue-chip stocks took a hit, small and midcaps held firm thanks to stock-specific momentum and solid domestic liquidity.

• 🐄 US-India Trade Deal Faces Dairy Dilemma: With the July 9 tariff truce deadline looming, India and the US are at odds over GM crops and dairy access. India says no to GMOs; the US wants market entry. Stakes are high on both sides.

• 🤖 Tesla’s “low-key” robotaxi launch takes off in Texas: Tesla quietly kicked off its long-awaited robotaxi pilot in Austin with a small fleet of Model Ys sporting “Robotaxi” logos. But it signals Elon Musk’s ambitions to go head-to-head with Waymo, Zoox, and Chinese rivals. More in the Big Brew 👇

• 🧾 India’s Trade Talks with ASEAN Hit a Wall: Despite nine rounds of discussions to review the free trade agreement, there’s been zero progress. Indian businesses say the deal feels one-sided—imports from ASEAN have tripled, but our exports haven’t kept pace. MSMEs, in particular, are feeling the pinch.

📈 Market Masala

• 📉 Geopolitics Spook Markets, Nifty Falls Below 25K: The Nifty slipped 140 points to close at 24,971 while Sensex dropped 511 points, reacting to US-Iran tensions and weak IT performance. Most sectors ended in the red, but midcaps and smallcaps stood firm.

• 💪 Smallcaps & Midcaps Stay Resilient: Despite frontline market jitters, smaller stocks gained ground thanks to strong domestic flows, stock-specific buying, and minimal FII exposure. Experts say the war overhang may fade in a few days.

• 📊 India to finally measure household income: In a historic first, India will conduct a full-scale household income survey in 2026. Chaired by ex-IMF director Surjit Bhalla, a newly formed expert panel will finalise the survey design—plugging a critical data gap in how we measure prosperity.

• 🔌 GAIL to Invest ₹844 Cr in Pipeline Upgrade: India’s largest gas utility will boost its west coast pipeline capacity, while also delaying other projects due to land and forest clearance issues—adding ₹400+ Cr in cost overruns.

• 🤝 Kamath brothers bet ₹250 Cr on InCred: Zerodha founders Nithin and Nikhil Kamath picked up a minority stake in InCred Holdings just months ahead of its ₹4,000–5,000 Cr IPO. They’re betting big on India’s shift towards tech-driven, responsible lending.

🌍 Global Masala

• 📈 Wall Street Rises as Iran Retaliation Appears Milder: Dow, S&P 500, and Nasdaq all rose between 0.6%–0.9% after Iran’s “symbolic” missile response in Qatar eased fears of a full-blown oil supply shock. Brent crude actually fell 6% to ~$72.

• ⚛️ New York Plans First Nuclear Plant in 10+ Years: The state is launching a 1 GW nuclear project to power 1M homes as electricity demand skyrockets. It’s a big shift back to atomic energy amid fears of blackouts and surging data center needs.

• 🛢️ Middle East Tensions Push FMCG Prices Higher: With oil crossing $79/barrel, consumer goods makers are bracing for cost spikes in packaging and freight. Soap and snack prices could rise soon as companies scramble to protect margins.

• 🧠 Apple & Meta Eye Perplexity AI: The buzzy AI-powered search startup has caught the attention of both tech giants. For Apple, it could be a Siri savior; for Meta, it’s part of a broader AI arms race with OpenAI and Google.

🧠 The Big Brew 🚘 Tesla’s Robotaxi Gamble: Smooth Start, Long Road

After years of hype (and a few $4.20 jokes), Tesla’s long-awaited robotaxi pilot quietly rolled out in Austin, Texas this weekend—triggering a near 10% jump in Tesla stock. The test involves 10–20 modified Model Y SUVs operating in a geofenced part of the city. Each car features a safety driver in the passenger seat and a remote teleoperator on standby, ensuring the ride stays... well, mostly hands-free.

🎥 Influencers and analysts were invited to try it out, describing the experience as “safe,” “smooth,” and even “patient in chaotic traffic.” Riders synced their Tesla accounts, streamed content mid-ride, and reportedly faced tricky traffic with impressive ease.

But don’t cue the autonomous parade just yet. This was a “low-key” pilot, missing the futuristic Cybercab Musk teased at Tesla’s "We, Robot" event. Analysts noted the real hurdles are still ahead:

• 🛠️ Scaling this to thousands of vehicles

• ⚖️ Navigating regulations, especially after Cruise’s high-profile accidents

• 🌧️ Handling real-world chaos like bad weather, messy roads, and unpredictable pedestrians

💡 What does this mean?

Tesla’s robotaxi is finally real (kinda), but this is just the first lap in a long race. If the company can master the tech, tame regulators, and drop the cost of autonomy, it could disrupt not just Uber and Ola, but how cities move.

For India, it’s a signpost of what could be coming—eventually. While our roads aren’t ready for fully driverless fleets yet, the underlying shift toward AI-driven transport is already underway. Keep an eye on how this plays out in the US—it might just be the roadmap for India’s future.

🚀 Startup Scoop

• 🏢 Incuspaze Acquires TRIOS: The IPO-bound co-working firm has bought Pune-based TRIOS in a cash-and-stock deal to strengthen its presence and aim for ₹400 Cr in revenue by FY26.

• 🏘️ Truliv Secures Investment from Times Group: The Chennai-based coliving startup is now valued at ₹356.5 Cr and plans to expand into retirement homes and vacation stays. It aims for ₹200 Cr in revenue over three years.

• 🚌 EKA Mobility Bags ₹200 Cr Funding: EV bus maker EKA Mobility received a capital boost from Enam Holdings, helping it expand Pune operations and build a third plant in MP. The company could turn unicorn if it hits internal milestones.

🧠 Chai Break Trivia

• 🤯 Did you know India has never done a full-scale household income survey before? That’s about to change in 2026, with MoSPI’s expert panel—led by economist Surjit Bhalla—finally fixing the data gap that’s existed for 70+ years.

🔮 What’s Brewing Next

• 📆 All Eyes on July 9: The US-India tariff truce ends then—so trade deal talks are heating up.

• 📉 Market Watch: Crude prices, global cues, and Fed chatter will steer the week. Avoid wild bets, say analysts.

🥡 That’s a wrap for June 24!

Whether it’s robotaxis, oil shocks, or billion-dollar IPOs, this week is full of plot twists—and we’re just getting started. Hold your positions (and your teacups), and we’ll see you back tomorrow with more fresh brew.