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Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories.
India’s Growth Engine Still Roaring, Says RBI
The Reserve Bank of India’s annual report is cautiously optimistic. It warns of global headwinds—rising input costs, protectionist trade policies, and tariff risks—but says India remains the fastest-growing major economy. Domestic demand, strong exports, and a thriving farm sector powered momentum in FY25. Inflation eased to a six-year low of 3.16% in April, raising expectations of a 25 bps repo rate cut in June.
Forex reserves are healthy, fiscal discipline is holding, and public capex continues to drive growth. On the radar: stress tests, cyber risk reviews, and climate risk evaluations for banks and NBFCs. A record ₹2.69 trillion surplus transfer to the Centre also boosted RBI’s balance sheet credibility.
Bottom line? Global chaos may persist, but India’s economic engine looks well-fueled and storm-ready.
Covid Creeps Back, But Experts Say: Stay Alert, Not Alarmed
With new Covid variants NB.1.8.1 and LF.7 emerging, and over 1,000 active cases reported across cities like Delhi and Bengaluru, India is reactivating its Covid response. A high-level panel is reviewing vaccine stocks, testing readiness, and hospital capacity.
Experts say the virus is currently mild. Hybrid immunity—vaccine plus natural infection—is widespread, and booster doses aren’t necessary for most. But vaccine makers are being urged to update formulations in case a new, more dangerous variant emerges.
Dr. Soumya Swaminathan and other health leaders advise vigilance over panic. WHO hasn’t flagged the variants as serious threats. For now, the focus is on monitoring—not mass vaccinations.
India, US Sprint to Seal Trade Deal Before Tariff Clock Expires
India and the US are racing to close a long-pending bilateral trade pact before a crucial 8 July deadline, when Trump-era reciprocal tariffs could make a comeback. American negotiators arrive in Delhi next week for what could be the final round.
India’s chief negotiator Rajesh Agarwal said this deal is a strategic play—not just about tariff relief. It covers agriculture, autos, digital trade, and market access, with potential to reframe global supply chains.
Even though a US court recently ruled Trump’s baseline tariffs illegal, India is pressing on, seeing the agreement as key to long-term trade stability and its $30 trillion economic ambition by 2047.
Sebi Tightens the Screws on F&O Market Risk
Come 1 July, Sebi is rolling out sweeping reforms in the equity derivatives market. The big change? A smarter, risk-sensitive metric called delta-adjusted open interest. This will offer a clearer view of traders’ exposure based on price movements of underlying assets.
Limits are being introduced—₹1,500 crore net exposure and ₹10,000 crore gross—for index options. For single-stock derivatives, Sebi is tying position limits to cash market liquidity starting October.
Retail traders lost ₹1.89 trillion in F&O bets between FY22 and FY24, prompting Sebi to act. With earlier steps like raising lot sizes and capping weekly expiries already in motion, the message is clear: the F&O free-for-all is ending. Trade smart—or step aside.
Trump’s Tariffs Get Court Stay—For Now
Donald Trump’s controversial “Liberation Day” tariffs live to see another day. A federal appeals court has temporarily allowed the former US president to keep imposing broad-based tariffs under emergency powers, despite a lower court ruling that declared them illegal.
The court cited national security concerns, giving the Trump team more time to fight the legal challenge. Critics argue the tariffs were arbitrary, hurting global trade and spooking markets.
White House adviser Peter Navarro insists the administration will push on—via courts or alternative methods. “It’s not over,” he said. “We have other tools.” -
Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories.
1. Lokpal Clears Ex-SEBI Chief in Adani-Linked Allegations
India’s anti-corruption ombudsman, Lokpal, has dismissed all complaints against former SEBI chairperson Madhabi Puri Buch. The allegations—based on a Hindenburg Research report—claimed Buch and her husband held offshore stakes linked to the Adani Group. The Lokpal, led by Justice A.M. Khanwilkar, concluded the complaints were based on “presumptions and assumptions” with no verifiable evidence. Buch, who completed her SEBI tenure in February 2025, had strongly denied the claims. With Hindenburg itself shutting shop in January 2025, the watchdog ruled the report could not serve as grounds for a corruption probe.
2. SAIL Posts Q4 Growth, Announces Dividend
Steel Authority of India Ltd (SAIL) delivered a solid close to FY25, reporting an 11% rise in Q4 net profit to ₹1,251 crore. Revenue grew 4.8% year-on-year to ₹29,316 crore, with gains led by its IISCO and Alloy Steels plants. The Maharatna PSU announced a final dividend of ₹1.60 per share. SAIL stock, which has delivered a 325% return over five years, gained 13.5% year-to-date despite a 21% dip over the past year. With India’s infra buildout gaining momentum, SAIL hopes to carry the steel into coming quarters.
3. US Cracks Down on Global Censorship with Visa Ban
In a bold move defending free speech, US Secretary of State Marco Rubio has introduced visa restrictions targeting foreign nationals who attempt to censor expression within the US. The policy aims to block those who threaten legal action against US citizens for social media posts or pressure tech platforms to follow global censorship norms. Rubio didn’t name countries, but the message is clear: foreign governments trying to police American speech or platforms will now face consequences. “We will not tolerate encroachments on American sovereignty,” Rubio said.
4. TCS Dividend Dip Signals Strategic Shift?
Tata Sons has seen its dividend income from Tata Consultancy Services (TCS) drop for the first time since the IT major’s 2004 listing. In FY25, Tata Sons earned ₹32,718 crore—₹1,333 crore less than the previous year. While TCS’s revenue rose 3.8% to $30.18 billion and net profit by 2%, the payout ratio dipped to 93.9%, the lowest in six years. Analysts suspect the company is conserving cash for strategic investments in AI and tech. Adding to concerns, TCS skipped its usual annual salary hike, citing macro uncertainty.
5. Govt Hikes MSP, Extends Farm Loan Relief Ahead of Polls
With elections on the horizon, the Centre has hiked Minimum Support Prices (MSP) for 14 kharif crops, with tur dal seeing the steepest rise of ₹450 to ₹8,000 per quintal. The government also extended the Modified Interest Subvention Scheme into FY26, offering farmers loans up to ₹3 lakh at subsidized rates via Kisan Credit Cards. Critics, however, note that the 3% hike in paddy MSP is below inflation. The Cabinet also cleared ₹7,000 crore worth of infrastructure projects, including a major rail corridor in Andhra Pradesh—part of a ₹4.5 trillion push to boost connectivity and cut logistics costs. -
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Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories.
Tax Deadline Extended: More Time, More Disclosures
Taxpayers not requiring audits now have until 15 September to file returns for FY 2024-25. The CBDT extended the deadline from 31 July due to significant changes in ITR forms, which now require detailed disclosures on tax-saving investments, capital gains, TDS on non-salary income, and HRA. Experts call the move a relief amid increased compliance.Budget 2025-26 sweetened the deal for middle-class taxpayers, raising the no-tax threshold to ₹12 lakh, and simplifying TDS norms. Direct tax collections hit ₹22.26 trillion, a 13.57% jump, reinforcing India’s push toward a digital-first, transparent tax regime.
North-East India Bags ₹4.32 Trillion in Investments
India’s North-East is emerging as an economic powerhouse. At a recent investment summit, the region attracted ₹4.32 trillion in deals across agriculture, hydropower, IT, tourism, and bamboo. Union minister Jyotiraditya Scindia confirmed that each state is preparing tailored incentive packages and logistics policies.With Guwahati and Agartala poised to become international gateways, and 70% of the India-Myanmar-Thailand highway complete, the region’s 12–13% decadal growth rate is set to soar even higher. Described as India’s ‘Ashta Lakshmi’, the North-East is becoming central to trade, diplomacy, and inclusive growth.
Vodafone Idea Faces Financial Cliff as AGR Relief Denied
Vodafone Idea’s troubles deepen after the Supreme Court rejected its plea for AGR dues relief. Its survival now hinges on whether the ₹6,000 crore in bank guarantees it submitted to the government will be invoked.If the DoT calls in the guarantees, lenders like SBI and PNB will be on the hook—turning those into high-interest loans. With a ₹2 trillion debt pile and limited cash flow, analysts fear this could cripple the already fragile telecom sector.The telco has urged government intervention to avoid a market duopoly, especially since the Centre owns a 49% stake in the company.
CEAT Reroutes US Expansion Amid Trump Tariff Threat
CEAT’s $225 million acquisition of Canadian brand Camso aimed to crack the US tyre market. But Donald Trump’s threat of 44% tariffs on Sri Lankan exports—where Camso manufactures—has thrown a wrench in the works.CEO Arnab Banerjee says the company will now shift US-bound production to India, though that too may face a 26% reciprocal tariff.Despite the uncertainty, CEAT’s stock is up 18% this year, as investors remain bullish on its global expansion. But with nearly one-third of Camso’s revenue coming from the US, analysts say the deal’s long-term value now hangs in the balance.
NMDC Mines Profit, But Faces Price Pressures
Mining major NMDC posted a solid 5% jump in Q4 profit to ₹1,483 crore, with annual net profits rising 17% to ₹6,539 crore, powered by strong iron ore and pellet sales. Revenue for FY25 crossed ₹25,000 crore.Chairman Amitava Mukherjee reiterated the company’s goal of hitting 100 MTPA production in five years, citing visible gains from ongoing initiatives.However, average iron ore prices dipped and JSW Steel—a major client—expects further softness. Despite that, NMDC announced a ₹1 per share dividend, adding to its earlier ₹2.30 payout.Eyes are now on how NMDC sustains growth amid falling ore prices and global demand shifts. -
Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories.
1. IndiGo’s Gangwal Plans ₹6,831 Cr Stake Sale
In a major move, IndiGo co-founder Rakesh Gangwal and his family trust are set to sell up to ₹6,831 crore worth of shares in the airline through a block deal. The sale, expected to happen Tuesday, involves up to a 3.4% stake at a floor price of ₹5,175 per share. Gangwal and his trust together own nearly 13.5% of the company. With shares up 461% over five years and near 52-week highs, investors are watching closely—this could mark a strategic exit or just profit booking.
2. NSE vs BSE: Expiry Day Showdown Begins
Sebi’s new circular limiting equity derivative expiries to either Tuesday or Thursday has kicked off a turf war. NSE wants to shift its Nifty expiry to Tuesday—the very day BSE had claimed earlier for its Sensex contracts. If approved, NSE could see a 5% boost in market share, while BSE may have to move to Thursday or risk losing volumes. The final decision is due by June 15, but until then, it’s a race to lock in the more lucrative day.
3. Starlink Set to Launch in India at ₹850/month
Elon Musk’s satellite internet service, Starlink, is close to entering India after securing a Letter of Intent from the DoT. Plans may start at just ₹850 per month with unlimited data—among the cheapest globally. The goal? Ten million subscribers. But urban surcharges, spectrum charges, and licensing levies could raise prices. Even so, Starlink hopes to bridge India’s digital divide, particularly in rural areas with poor connectivity.
4. Leela Hotels Launches ₹3,500 Cr IPO
Luxury hotel chain Leela is making its market debut with a ₹3,500 crore IPO—the largest ever in India’s hospitality sector. Backed by Brookfield, the IPO is priced attractively but comes with baggage: ₹2,567 crore in debt. Most of the proceeds will go toward deleveraging. With new properties planned and EBITDA margins at 50%, Leela hopes to ride the luxury upcycle, though rivals like Taj and Oberoi still lead in occupancy and brand recall.
5. India Pushes US to Ease Fruit Import Rules
India is lobbying hard to get better market access for fruits like mangoes, pomegranates, and guavas under a proposed trade deal with the US. After 25 tonnes of mangoes were destroyed at US ports, India wants faster approvals and localized certification. Despite a 28% rise in exports to the US over two years, regulatory bottlenecks remain. Exporters say the deal could be a game-changer—but time, and cold storage, are running short -
Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories.
Markets Cool Off After 4-Week Rally
After weeks of surging highs, Indian markets finally took a breather. The Sensex and Nifty slipped 0.7% each as foreign investors sold off in three out of four sessions. Sectors like realty and metals held up well, but autos, IT, and FMCG lagged. Midcaps dipped while smallcaps stayed afloat. Technical resistance at Nifty’s 25,200 level held firm, with support seen at 24,500. Analysts suggest a cautiously bullish stance, with Bank Nifty holding strong and poised for a breakout above 56,000. Traders are advised to focus on banking, metals, and energy, while keeping tight stop-losses amid high volatility.
India Becomes World’s 4th-Largest Economy
India has officially overtaken Japan to become the fourth-largest economy, with a GDP of $4.19 trillion, according to the IMF. “We are now bigger than Japan,” announced NITI Aayog CEO BVR Subrahmanyam. The data shows India is just behind Germany and could climb to third place within three years. The IMF projects India will grow at 6.2% in 2025 and 6.3% in 2026—making it the world’s fastest-growing major economy, powered by rural demand and resilient consumption despite global headwinds
Forex Reserves Slip Amid Gold Dip
India’s foreign exchange reserves fell by $4.9 billion to $685.7 billion, dragged down by a steep $5.1 billion drop in gold reserves. The fall comes weeks after hitting a 7-month high. Gold holdings dropped to $81.2 billion, likely due to easing geopolitical tensions and softer gold prices. Interestingly, foreign currency assets edged up by $280 million, showing relative dollar stability. With the rupee trading at ₹85.17 to the dollar, RBI’s reserve moves signal ongoing efforts to curb volatility and balance market swings.
LIC Smashes Guinness World Record
LIC made global headlines by issuing 588,107 life insurance policies in just 24 hours—earning it a Guinness World Record. The massive feat was achieved on January 20, 2025, with the help of 452,839 agents across India. Dubbed “Mad Million Day,” the initiative was the brainchild of CEO Siddhartha Mohanty, who motivated every agent to close at least one policy that day. LIC called it a reflection of their agents’ dedication and a milestone in customer outreach and productivity.
India’s Trade Talks Shift East After US, EU Deals
With trade agreements with the US and EU nearing conclusion, India is preparing to refocus on partners in Asia-Pacific—namely Japan, Australia, ASEAN, South Korea, Sri Lanka, and Peru. India-ASEAN FTA reviews are ongoing, and an upgrade to the Japan deal is under discussion. Meanwhile, India’s FTA with the UK, finalized in May, has already slashed tariffs on 99% of goods and aims to double bilateral trade to $100 billion by 2030. A US deal is expected before the 8 July tariff deadline, potentially shielding India from retaliatory trade measures. Once done, India will turn to its next wave of strategic trade alignments to strengthen its supply chains and global reach. -
Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories.
1. The Lodha Truce, ₹5,000 Cr Feud SettledAfter nine rounds of mediation and a mother’s public plea, warring brothers Abhishek and Abhinandan Lodha have settled their ₹5,000-crore trademark dispute. As per the court-filed terms, Abhinandan can no longer use ‘Lodha’ in isolation for real estate. Instead, he must use the full ‘House of Abhinandan Lodha’ with clear disclaimers. Both parties waived financial claims and agreed to strict separation, including no shared employees or premises. Violations could trigger a ₹1 lakh/day penalty. Legal experts call it a rare, detailed resolution setting a precedent for intra-family brand disputes in India.
2. ITC’s Record Profit Powered by Hotel DemergerITC reported a Q4 consolidated net profit of ₹19,807 crore, largely due to a one-time exceptional gain of ₹15,145 crore from the demerger of its hotel business. Adjusted net profit fell to ₹4,662 crore, down from ₹5,190 crore a year ago. Revenue rose 10% YoY to ₹20,376 crore, led by cigarettes and FMCG. EBITDA grew 3.7%, but margins slipped to 33.5%. A final dividend of ₹7.85 per share was announced, taking the full-year payout to ₹14.35.
3. Sun Pharma Profit Dips, But Margins Expand
Sun Pharmaceutical Industries posted a 19% YoY decline in Q4 profit at ₹2,154 crore, even as revenue rose 8% to ₹12,959 crore. Strong domestic sales and global speciality drugs helped EBITDA grow 22% with margins expanding to 28.7%. US sales declined, but India sales grew 13.6%. The company declared a final dividend of ₹5.50 per share, taking FY25’s total to ₹16. CMD Dilip Shanghvi highlighted promising global pipeline and recent acquisitions to strengthen the speciality segment.
4. Sensex Shake-Up: Trent, BEL In; Nestle, Indus
Ind OutThe BSE Sensex is getting a facelift—Tata-owned Trent and defence PSU Bharat Electronics will replace Nestle India and IndusInd Bank from June 23. The reshuffle reflects shifting investor sentiment toward domestic consumption and defence stocks. Other key changes across indices: Dixon, Coforge, and Indus Towers will enter BSE 100; InterGlobe Aviation and Shriram Finance join the Sensex 50. IDFC First Bank replaces Canara Bank in the BSE Bankex.
5. De Beers Sees India’s Diamond Market Doubling
India’s natural diamond market is set to double in five years, says De Beers Group CEO Al Cook, during his first visit to the country. India has overtaken China to become De Beers’ second-largest market, after the US. De Beers is ramping up marketing spend, opening four new stores, and partnering with major players like Tanishq and GJEPC. While lab-grown diamonds (LGDs) are gaining ground, Cook emphasized their future lies in tech, not jewellery. De Beers has closed its LGD brand Lightbox amid a 90% fall in LGD prices. -
Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories.
India Seizes Crude Opportunity Amid Geopolitical Tensions
With Brent crude trading at a four-year low near $65 per barrel, India is moving fast to refill its Strategic Petroleum Reserves (SPR). Current reserves cover just 9.5 days—far below the IEA’s 90-day norm. The urgency is amplified by recent border tensions and Operation Sindoor. The Centre, which had deferred a ₹5,000 crore SPR budget in FY24, now plans to reallocate funds in FY26. Two new storage sites at Chandikhol and Padur are in the pipeline. Officials are hoping to mirror 2020’s success, when India bought crude at $19/barrel, saving ₹700 crore. JP Morgan expects Brent to dip further to $58 by 2026—offering a window India won’t want to miss.
NHPC Powers Up Profits, Expands Clean Energy Push
NHPC reported a 52% jump in Q4 net profit to ₹919.63 crore, with operational revenue more than doubling year-on-year. Shareholders get a total FY25 dividend of ₹1.91 per share. The hydropower giant also added 800 MW from the Parbati-II project and 107 MW solar capacity in April, deepening its clean energy portfolio. However, a High Court-mandated ₹589 crore payment to staff dented profits, with ₹301.97 crore booked as unbilled revenue. Despite this, NHPC’s momentum across hydro, solar, and wind cements its leadership in India’s energy transition.
Blackstone Clinches Billion-Dollar Healthtech Deal
In a competitive bidding war, Blackstone secured AGS Health for $1.2–1.3 billion—quadrupling its 2019 value. The Chennai-headquartered RCM (revenue cycle management) firm serves over 150 US healthcare providers and generates over ₹500 crore in EBITDA. The deal, managed by JP Morgan and BofA, reflects growing global investor appetite for tech-driven, dollar-generating health services. It also signals Blackstone’s strong bet on compliance-focused platforms amid rising healthcare digitization.
Trump’s ‘Golden Dome’: Sci-Fi Meets Strategy
Donald Trump has revived Reagan’s Star Wars dream—announcing a $175 billion missile-defense initiative named “Golden Dome.” The system, featuring space-based and ground interceptors, aims to defend against threats across all four missile phases—including launches from space. Trump vows it will be operational by 2029, with Gen. Michael Guetlein leading the charge. Congress has begun with a $25 billion ask. While the tech is still untested, the plan could transform modern defense and reshape global security architecture.
India-EU Trade Talks Enter Final Lap
India has dispatched a delegation to Brussels for the next round of FTA talks with the EU. This follows the 11th round held in Delhi on May 16. The deal covers 23 chapters, including trade in goods and services, IP, sustainability, and dispute resolution. India is hoping for a two-phase closure model, similar to its Australia and US strategies, amid tariff uncertainties under President Trump. The EU seeks steep duty cuts on automobiles, medical devices, and alcohol, while India aims to boost exports in pharma, steel, and textiles. With $137 billion in bilateral trade and strong political backing from both sides, the long-pending FTA may finally be within reach. -
Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories.
1. India on Covid Alert Again
India’s health agencies have reactivated surveillance mechanisms amid rising Covid-19 cases in Hong Kong and Singapore. Genome sequencing and wastewater tracking in Bengaluru are already picking up early signals. With 257 active cases—the highest in a year—authorities stress there’s no need to panic yet. “Covid hasn’t vanished,” warns Dr. Soumya Swaminathan, citing the emergence of Omicron sub-variants LF.7 and NB.1.8. No hospitalizations have been reported in India, but experts are watching SARI and ILI trends closely.
2. SC to Telcos: No Waiver, No Shortcut
The Supreme Court dismissed pleas by Bharti Airtel, Vodafone Idea, and Tata Teleservices for relief from ₹80,000 crore in interest and penalties linked to adjusted gross revenue (AGR) dues. Calling the petitions “shocking” and “misconceived,” the court said it’s up to the government to help—but it won’t intervene judicially. Vodafone Idea, now nearly half-owned by the government, is under financial duress with over ₹2 trillion in dues. Without a bailout or major policy relief, analysts warn it may not survive beyond FY26.
3. India’s Coffee Exports Brew Big
India’s coffee exports jumped from $800 million in FY15 to $1.81 billion in FY25, despite only marginal production growth. The secret? Higher global prices for robusta and strong branding. Karnataka remains the coffee hub, but cultivation is expanding into tribal districts of Odisha. With Europe’s deforestation regulation kicking in, India’s shade-grown coffee is gaining a green premium. Still, rising procurement costs are hitting local traders hard, even as demand from Italy, Russia, and Germany grows strong.
4. Myntra Goes Global, Starts with Singapore
Myntra has launched international shipping to Singapore, targeting the 6 million-strong Indian diaspora. With over 35,000 styles across 100 brands—including Aurelia, Global Desi, and Rare Rabbit—the Flipkart-owned fashion giant is offering delivery in 4–7 days straight from India. CEO Nandita Sinha says the focus is on festive fashion and understanding consumer needs before expanding to more countries. Singapore’s booming e-commerce market makes it an ideal launchpad for “Myntra Global,” a strategy aimed at building global brand affinity.
5. Trump-Putin Call Rekindles Peace Hopes
In a surprise diplomatic turn, Russian President Vladimir Putin said his two-hour phone call with US President Donald Trump was “frank and useful.” The two discussed paths to peace in Ukraine, with Putin proposing a memorandum for a ceasefire and long-term treaty. Ukraine’s President Volodymyr Zelensky welcomed the idea of peace but said Russia must act to be trusted. “We want to finish this war, but we don’t trust them,” he said. Talks may be resuming—but skepticism remains high. -
Welcome to Top of the Morning by Mint, your weekday newscast that brings you 5 major stories from the world of business.
It's Monday, May 19th, 2025. This is Nelson John.
1. Q4 Earnings Storm: Over 660 Companies Line UpIt’s a blockbuster week on Dalal Street as over 660 companies, including market giants like Power Grid, ONGC, Hindalco, and ITC, prepare to report Q4 results. The Nifty 500 has already surprised positively with 10.5% earnings growth, signaling a mid-cap revival. Investors will closely track results starting Monday from firms like DLF and Pfizer, followed by Hindalco, Dixon, and Max Healthcare on Tuesday. Wednesday belongs to ONGC, IndiGo, and Mankind Pharma. By Friday, the likes of JSW Steel and Reliance Infra will cap off what could be a defining week for FY25 sentiment. Even Saturday will see earnings action from JK Cement and Indigo Paints. The momentum here could shape the market’s next big move.
2. IMF’s 11-Point Lifeline to PakistanPakistan has secured a fresh $1 billion from the IMF—but with 11 strict conditions. The total disbursed now stands at $2.1 billion. Key demands include passing a ₹17.6 trillion budget, implementing agricultural income tax, raising energy tariffs, and phasing out tech zone incentives by 2035. Failure to meet these could jeopardize further aid. Adding to the pressure, the IMF has flagged rising India-Pakistan tensions as a potential risk to the reform path. As Pakistan stares at a tough fiscal balancing act, the road to economic stability is paved with policy overhauls and public patience.
3. India Hits Bangladesh with Trade CurbsIndia has restricted port access for Bangladeshi goods worth $770 million, impacting nearly 42% of Dhaka’s exports into India. The move blocks key items like garments and processed foods from land routes, now limiting them to Kolkata and Nhava Sheva ports. While India hasn’t cited geopolitical reasons, the restrictions follow Dhaka’s curbs on Indian yarn and rice exports and a transit fee on Indian cargo. Experts say India is using economic tools to push back against Bangladesh’s growing tilt towards China, which recently signed $2.1 billion worth of deals with Dhaka. With trade ties fraying, the two neighbors are veering from collaboration toward confrontation.
4. Adani’s Deep-Sea Defence PlayAdani Defence & Aerospace has signed a major partnership with US-based Sparton to localize anti-submarine warfare tech in India. This makes Adani the first private Indian firm to offer indigenised sonobuoy systems—critical for undersea detection and naval security. The tie-up aligns with India’s ‘Aatmanirbhar Bharat’ vision and is poised to boost Indian Navy capabilities. Jeet Adani called it a step toward securing sovereignty amid rising maritime threats. Sparton CEO Donnelly Bohan said the collaboration will help build high-tech jobs and localized defence manufacturing. India’s push to be a global player in undersea warfare just got a sonar-powered boost.
5. Ola’s Gigafactory Ambitions Hit DelayOla Electric’s grand gigafactory plan has hit a snag. Despite raising ₹5,500 crore last year, the company has not utilized the ₹1,227 crore earmarked for expanding battery cell capacity to 6.4 GWh by April 2025. Phase 1b and Phase 2 are delayed, with commercial production now pushed to FY26. This could endanger Ola’s eligibility for incentives under the ₹18,100 crore PLI scheme. The company, already facing mounting losses—₹564 crore in Q3 FY25—is under scrutiny for delayed execution and missed milestones. Analysts warn that unless Ola speeds up or outsources, its dream of a 20GWh facility by 2026 may remain on paper. -
1. India Becomes the World’s Fastest-Growing Oil Consumer
OPEC’s latest report crowns India as the top driver of global oil demand growth through 2025 and 2026.Oil demand in India will rise from 5.55 million bpd (2024) to 5.99 million bpd (2026), growing faster than China’s and the US’s.Diesel is the main growth driver, with road expansion, infrastructure, and industrial growth boosting demand.March saw record crude imports (5.4 million bpd), with Russia leading at 36% of India’s crude intake.Despite geopolitical headwinds like US tariffs, OPEC sees India’s fiscal policy and strong economy cushioning any impact.
2. IndusInd Bank Uncovers ₹595 Cr in Dubious Bookkeeping
India’s eighth-largest private bank is under fire for accounting lapses worth ₹595 crore in “other assets.”Triggered by a whistleblower complaint, the bank’s internal audit flagged unsubstantiated balances, quietly offset in January 2025.An earlier ₹674 crore was wrongly booked as interest over three quarters and later reversed.Top bosses CEO Sumant Kathpalia and Deputy CEO Arun Khurana resigned in April amid mounting pressure.External firms PwC and Grant Thornton have been roped in for damage assessment and forensic audits.Moody’s cut the bank’s outlook to “negative”, citing weak internal controls and lack of succession planning.
3. Apple Reassures India After Trump’s iPhone Rebuke
After Donald Trump publicly told Apple to stop making iPhones in India, the tech giant quietly assured New Delhi that it’s not going anywhere.Trump, speaking in Doha, said Apple CEO Tim Cook was investing in India “too much” and should “build in the US.”Apple currently produces 15% of its iPhones in India, with plans to make India a major export base.Indian officials confirmed Apple’s investment roadmap remains intact.India-made iPhones, mostly built by Foxconn and Tata Electronics, are now being exported to global markets, including the US.
4. IndusInd Bank’s ₹1,979 Cr Derivatives Blowout Adds to Woes
In a separate episode earlier this year, derivative accounting errors cost the bank ₹1,979 crore.Lapses hit 2.35% of the bank’s net worth, according to PwC’s review.The bank is now strengthening internal controls, but the damage to investor confidence and leadership remains deep.
5. India Rejects Pakistan’s Conditional Peace Offer
Pak PM Shehbaz Sharif extended a peace olive branch—but with the usual caveat: Kashmir.“We are ready to talk,” he said, but insisted Kashmir be central to any future talks.India immediately shut the door—S. Jaishankar stated the only issue left is for Pakistan to vacate PoK.This exchange follows a May 10 ceasefire understanding, after four days of heavy cross-border shelling.
6. India Revokes Security Clearance of Turkish Aviation Firm Çelebi
In a move mixing geopolitics with national security, India has revoked the security clearance of Turkish firm Çelebi Aviation.Çelebi handles ground operations at nine major airports including Mumbai and Delhi.The action follows public anger over Turkey’s support to Pakistan amid Operation Sindoor and the Pahalgam terror attack.Shiv Sena leaders had also demanded the firm’s expulsion, citing national security.Despite its large footprint—58K flights, 5.4 lakh tons of cargo, and 7,800 employees—Çelebi now faces exit signals from India’s aviation ecosystem.India’s narrative this week is clear: high on energy, tough on lapses, assertive on sovereignty, and bold in global business. -
1. Tata Power’s ₹25,000 Cr Surge - 00:38:02 - 01:53:715
Tata Power is charging ahead with a massive ₹25,000 crore capital outlay for FY26, focusing half of it on renewables. CEO Praveer Sinha revealed the company plans to add up to 2.7 GW of capacity, with long-term wind turbine deals in the pipeline. Tata Power is also eyeing two UP discoms—Purvanchal and Dakshinanchal—as they head for privatisation. Meanwhile, its nuclear ambitions hinge on legal reforms expected in the Monsoon Session. The company posted a strong Q4 with net profit up 25% to ₹1,306 crore, riding on strong performance across renewables, generation, and distribution.
2. North-East’s ₹2.5 Trillion Pitch - 01:56:495- 03:13:724
Ahead of the Rising Northeast Summit on May 23–24, Union Minister Jyotiraditya Scindia announced ₹1.12 trillion in confirmed proposals and eyes a ₹2.5 trillion target. Big names like Reliance, Adani, Tata Sons, and ITC are expected to contribute an additional ₹80,000 crore. From textiles to tourism, IT to energy, the region is being positioned as a high-return, high-growth destination. The summit will feature 11 ministerial sessions at Bharat Mandapam, New Delhi. French firms are also warming up to the region, with dairy, aviation, and agri-tech sectors in focus.
3. Gensol’s Clean Energy Crisis - 03:16:504 - 04:41:656
Gensol Engineering is in deep trouble. Ireda has filed an insolvency plea for a ₹510 crore loan default, just weeks after accusing the company of forging documents and misusing funds. Sebi has already barred the promoters—Anmol and Puneet Singh Jaggi—from the markets and corporate roles. Gensol raised over ₹800 crore to buy EVs for its BluSmart business but used only ₹567 crore, with ₹260 crore unaccounted for. The case, now under EOW and forensic audit, is a cautionary tale in India’s clean energy push.
4. #BoycottTurkey Takes Off - 04:44:518 - 05:59:635
Social media outrage over Turkey’s ties with Pakistan—especially reports of drone support—has sparked #BoycottTurkey trends. Platforms like Cox & Kings and Ixigo have paused bookings to the country. IndiGo and Air India’s partnerships with Turkish Airlines came under fire, but insiders say there’s no major commercial hit—yet. With Turkish Technic servicing both airlines and Celebi handling ground ops at key airports, complete decoupling looks unlikely. As with Maldives and China, boycotts only stick when commerce takes a hit—and so far, it hasn’t. -
India vs. US:
Trade Tensions Heat UpIndia is ready to hit back with $1.91 billion in tariffs on key US goods—like almonds, petrochemicals, and medical devices—if steel and aluminium duties aren’t withdrawn by June 8. The trigger? Trump’s extension of safeguard duties. Commerce Minister Piyush Goyal heads to Washington on May 16 to try and broker a deal. With $7.6B in exports on the line and a 90-day tariff pause set to expire on July 8, India’s playing hardball while still betting on a Free Trade Agreement.
Airtel’s Q4 Rings Loud
Bharti Airtel posted a stunning 432% jump in Q4FY25 net profit at ₹11,022 crore, riding high on tariff hikes and a one-time tax gain. Revenue rose 27% to ₹47,876 crore, while ARPU hit ₹245. With 590.5 million users, the company also sealed a satellite internet pact with Elon Musk’s Starlink. A ₹16/share final dividend caps off a blockbuster year.
Tata’s Mixed Drive
Tata Motors saw Q4 profit drop 51% YoY to ₹8,470 crore, but FY25 revenue hit a record ₹4.39 lakh crore. JLR’s PBT soared to a decade-high £2.5 billion, and Tata’s EV arm turned EBITDA positive. Challenges persist in passenger vehicles, but the company remains debt-free and optimistic. A ₹6 dividend and a key Investor Day on June 16 are on the radar.
Hero’s Global EV Push
Hero MotoCorp’s FY25 net profit rose 16% to ₹4,610 crore. Exports jumped 44%, and EV sales rocketed 175%, with its Vida brand doubling market share. But rivals like Honda and TVS are growing faster. Hero plans European expansion and is betting big on EVs and new three-wheeler plays via Euler Motors.
Cipla Steady Amid Policy Storm
Cipla shrugged off US pharma tariff fears and posted a 30% jump in Q4 profit to ₹1,222 crore. FY25 revenue grew 8% to ₹27,548 crore. The US remains key, now forming 29% of revenue, while India remains the long-term play. With GLP-1 drugs like Ozempic going off patent soon, Cipla’s gearing up with in-house and partner products for the next leg of growth. -
Market Roars Back:
Ceasefire & Tariff Pause Spark ₹16 Trillion RallyPeace on the borders and a tariff truce overseas gave Indian markets their best day in over four years. With India-Pakistan tensions cooling and US-China easing trade friction, the Nifty soared 3.8% and Sensex jumped 3.7%, adding ₹16 trillion to investor wealth. IT, banking, and blue-chip stocks led the charge, as FIIs and DIIs poured in over ₹2,600 crore. “We’re in a sweet spot,” said Marcellus’ Saurabh Mukherjea, flagging optimism ahead of earnings and a potential EM bull run in 2025.
Trump’s Drug Price Bombshell Rattles Indian Pharma
Donald Trump’s executive order to slash US prescription drug prices by 59% has stirred unease among Indian pharma exporters. Branded drugmakers like Sun Pharma, with up to 17% US revenue exposure, face risks if the rule is enforced. Generic manufacturers may escape unscathed—for now. With Trump pushing for price parity with Europe, and past efforts blocked in court, Indian pharma must brace for policy volatility in its top export market.
Yes Bank’s SMBC Deal Signals Fresh Start
Yes Bank is readying for a reset with a ₹13,482 crore lifeline from Japan’s SMBC, which will pick up a 20% stake. CEO Prashant Kumar called it a triple win: reducing SBI’s stake overhang, onboarding a global strategic partner, and potentially securing a credit rating upgrade. With PE options ruled out and M&A off the table, the bank is betting on stability, not survival. Approval is expected by September, as analysts cautiously back the move.
Worldline Looks to Exit India in $200M Deal
French fintech Worldline is quietly preparing to exit India, hiring BNP Paribas to find a buyer for its B2B payments business. The move is part of CEO Pierre Vacheron’s cost-cutting and portfolio-pruning turnaround plan following steep losses and multiple profit warnings. Razorpay and PayU are seen as front-runners. If it goes through, the deal could reshape India’s digital payments battlefield—and help Worldline reset focus on core markets.
Hero’s Pivot Moment:
Munjal Returns Amid EV PressureLeadership churn at Hero MotoCorp has brought 71-year-old Pawan Munjal back into the spotlight. With CEO Niranjan Gupta exiting and Honda closing in on sales, India’s two-wheeler giant is in reset mode. Interim CEO Vikram Kasbekar steps in as the company struggles with slow EV adoption and a 4.5% YTD stock drop. With just 48,674 EV scooters sold versus TVS and Bajaj’s 2 lakh+, Munjal’s next move will be critical. Investors await Tuesday’s earnings for clues on Hero’s growth, margins, and roadmap. -
Operation Sindoor: “We Struck Where It Hurt”India’s top military brass revealed the impact of Operation Sindoor, launched after the April 22 Pahalgam terror attack. Air Marshal AK Bharti said strikes targeted key Pakistani airbases like Chaklala and Rahim Yar Khan. Over 100 terrorists, including high-value targets like IC-814 hijacker Yusuf Azhar, were eliminated. India also lost five defence personnel. Despite a brief ceasefire request by Pakistan via hotline, violations resumed within hours, including drone attacks and civilian targeting. India made it clear—further provocations will be met with decisive force.
D-Street Wobbles Amid Border HeatIndia’s longest stock market rally of 2025 came to a halt as border tensions rattled investors. The Sensex dropped 1,047 points, Nifty fell 339, and Bank Nifty slid 2.76%. Most sectors ended in the red, with realty, banking, and pharma leading the decline. Analysts warn of more correction ahead, with key support at 23,800. With volatility high and geopolitical risk rising, experts advise a cautious, stock-specific approach for the coming week.
BrahMos Facility Inaugurated in LucknowDefence Minister Rajnath Singh inaugurated a new 200-acre BrahMos missile facility in Lucknow, linking it to India’s renewed defence posture under Operation Sindoor. Part of the UP Defence Corridor, the facility underscores India’s push for self-reliance in military tech, with ₹34,000 crore in investment proposals already. Singh reiterated India’s intent to neutralize terrorism with precision, calling the strikes a message of strength. UP CM Yogi Adityanath echoed that India would now “crush terrorism, not tolerate it.”
India Rejects Trump’s Kashmir OfferIndia firmly rejected U.S. President Donald Trump’s offer to mediate on Kashmir. Trump, who inaccurately referred to it as a “thousand-year conflict,” claimed credit for brokering a ceasefire. India dismissed the idea, reiterating that Jammu & Kashmir is a bilateral issue and the only matter worth discussing is the return of Pakistan-occupied Kashmir. While Pakistan welcomed Trump’s remarks, India’s position remains unchanged—no third-party mediation.
Combat Medicine Stock-Up BeginsWith conflict risks rising, India is scaling up production of combat medicines. The Health Ministry, led by J.P. Nadda, has directed the Department of Pharmaceuticals to boost supplies of trauma essentials—antibiotics, burn treatments, orthopedic implants, and blood products. A 24x7 control center is being established to coordinate emergency response. Doctors warn that war-related injuries demand fast access to life-saving supplies, and India’s health sector is quietly shifting into battle readiness mode. -
India Shoots Down F-16 in Escalating Air Conflict
In a dramatic escalation, India’s air defence systems went full throttle Thursday night, downing a Pakistani F-16, two JF-17s, and a Pakistani AWACS inside Punjab province. The air battle followed Islamabad’s coordinated strikes on Indian military locations in Jammu and Punjab. Drones were also intercepted in J&K and Rajasthan, with one striking Jammu Airport. India’s S-400 systems thwarted eight incoming missiles across key border areas. The Integrated Defence Staff confirmed no casualties, calling the response “by the book.” The attacks came just days after India’s Operation Sindoor targeted terror bases in Pakistan and PoK, placing the region on high alert.
Markets Turn Cautious Amid War Clouds
While panic didn’t grip the markets, investors showed signs of nervousness after reports of Pakistani missile strikes on Indian targets. The Nifty fell 0.6% to 24,273, and India VIX surged 10% to 21.01, reflecting volatility. The put-call ratio (PCR) hit a record 1.89 before settling at 0.86 by day-end, as traders unwound risky bets. Analysts flagged this as heightened caution. Still, long-term bulls like Mirae’s Swarup Mohanty and Kotak’s Nilesh Shah believe the skirmish won’t derail markets for long—and might offer buying opportunities.
Adani’s Himalayan Power Play with Bhutan
Adani Group has inked a strategic MoU with Bhutan’s Druk Green Power Corporation to jointly develop 5,000 MW of hydropower. Building on their ongoing 900 MW Wangchhu project, the deal aligns with Bhutan’s 2040 clean energy roadmap. Adani will ensure power offtake via India’s commercial markets, reinforcing Bhutan’s central role in regional energy trade. With Tata Power and NHPC also eyeing Bhutan, the stage is set for a South Asian hydropower boom.
Trump Hints at Major UK Trade Deal
Donald Trump teased a “major trade deal” announcement at a press conference, likely involving the UK, according to Reuters and Financial Times. The deal could scrap Britain’s 2% digital tax and see U.S. tariffs on aluminum, autos, and steel lowered. Talks with India are also on the table but face “a twist.” Trump claimed multiple nations are eager to negotiate. Markets reacted mildly positive, with S&P 500 futures up 0.5%, even as the 145% tariff wall on China remains untouched.
Mumbai Flyers, Brace for Higher Airport Fees
From May 16, flying out of Mumbai’s Adani-run CSMIA will cost more. For the first time, domestic passengers will pay ₹175 on departure and ₹75 on arrival. International travellers face a steeper hike—₹695 and ₹304 for business class, ₹615 and ₹260 for economy, over 200% higher than current rates. AERA justified the hike citing upgraded infrastructure. The fee changes come amid Terminal 1’s planned demolition, which is expected to temporarily dip traffic, with a rebound anticipated once Navi Mumbai airport opens. -
As missiles struck terror targets across the border in ‘Operation Sindoor’, India’s cyber command braced for a digital warfront. Just hours after the strikes, top cyber experts and government officials warned of a heightened risk of cyberattacks targeting India’s critical infrastructure. Banks, telecom networks, and public utilities have been put on alert. The Indian Computer Emergency Response Team (CERT-In) issued advisories to financial institutions, while the Department of Telecommunications (DoT) ordered telcos to boost network security, especially in sensitive border regions. “Cyber sabotage today can be as destructive as a missile,” warned Rakesh Bhatnagar of VoICE, highlighting risks from foreign-made telecom and power equipment. Industry insiders say everything from denial-of-service attacks to stealth intrusions aimed at stealing sensitive government data is on the table. Pakistani hackers, officials say, have already attempted website defacements and intrusions—one recent case targeted Rajasthan’s education portal. With tensions high, India’s cybersecurity forces are now operating at peak alert levels. Experts stress that this isn’t just a government issue. “Every connected individual is vulnerable,” said Aon’s Prasanna Kumar. His warning? The war is now digital—and everyone’s a target.
India’s retaliatory strikes under ‘Operation Sindoor’ have not only made geopolitical waves—they’ve sent defence stocks flying. Since the April 22 terror attack in Pahalgam, defence stocks have outpaced the broader market. The Nifty Defence Index is up 2.99%, while the Nifty 50 managed just 1.2%. Big names like Hindustan Aeronautics, Bharat Dynamics, and Mazagon Dock have all gained in anticipation of faster project execution. “Earlier, defence orders took 5–7 years to play out. Now there’s pressure to deliver in three,” says Vikas Gupta of OmniScience Capital. That urgency could drive earnings and lead to analyst upgrades. What’s more, the global backdrop is shifting. With Russia and Israel unable to meet export demand, and Trump pushing NATO to ramp up defence spending, India’s affordable arms offerings are suddenly in high demand. “India’s export potential is huge,” says Ventura’s Vinit Bo-linj-kar, pointing to a 10-year global defence stockpile low. From UAVs and missiles by Adani to Tata-Airbus military aircraft and even critical mineral players like NMDC, India’s defence ecosystem is expanding fast. If tensions escalate, analysts expect a spike in demand not just for weapons—but for maintenance, upgrades, and consumables. War or not, defence is clearly in investor crosshairs.
After a long wait and some tough new security rules, Elon Musk’s Starlink has finally been greenlit to beam satellite internet across India. The Department of Telecommunications has issued Starlink a Letter of Intent to launch services, officials confirmed. This approval positions Starlink alongside Eutelsat OneWeb and the Jio-SES JV in the race to blanket India with satellite broadband. The timing’s key—Starlink’s nod came just a day after the government tightened rules, mandating data localization, lawful interception, and domestic manufacturing. “They’ll begin demos next, before getting the final licence,” one official said. Starlink’s plans hinge on more than just a licence. It still needs IN-SPACe clearance to operate its satellite fleet and set up earth station gateways—key for local connectivity. Globally, Starlink operates the world’s largest satellite constellation—over 6,750 in orbit. Back home, it’s already in talks with telecom giants Airtel and Jio to distribute its kits through retail chains. With over 40% of India still offline—mostly in rural regions—analysts say Starlink’s entry could be a game-changer. As Bernstein put it, this could help bridge India’s deep digital divide. -
1. Operation Sindoor: India Strikes Back
In a dramatic pre-dawn move on May 8, India launched Operation Sindoor, striking nine terror camps across Pakistan and Pakistan-occupied Kashmir, including key Lashkar and Jaish hubs in Bahawalpur, Kotli, and Muzaffarabad. The operation was a direct response to the Pahalgam terror attack that killed 26 civilians on April 22.
Executed using fighter jets, loitering munitions, cruise missiles, and tri-service precision, the strikes were conducted entirely from Indian airspace and targeted only terrorist infrastructure. India described the operation as “focused, measured, and non-escalatory,” avoiding Pakistani military installations while showcasing significant firepower and coordination across the Army, Navy, and Air Force.
2. Pakistan Responds: “This Won’t Go Unanswered”
Reacting to the strikes, Pakistan’s military issued a stern warning. The Inter-Services Public Relations (ISPR) stated, “India’s temporary pleasure will be replaced by enduring grief,” vowing retaliation at a time and place of its choosing. Pakistan confirmed strikes in three locations and mobilized its air force, while closing its airspace for 48 hours. Tensions along the Line of Control have since intensified, with reports of heavy artillery exchanges.
3. IAF Combat Drills & Civil Defence Readiness
Parallel to Operation Sindoor, the Indian Air Force began a major combat readiness exercise across the western sector, involving fighter jets, drones, helicopters, AWACS, and refuellers in Rajasthan, Gujarat, Haryana, and UP. Though termed “routine,” the timing—post-Pahalgam—adds strategic weight.
Simultaneously, India conducted nationwide civil defence drills across 244 districts, the largest since 1971. These drills tested air raid sirens, evacuation plans, blackout protocols, and communications, sending a clear message: India is prepared for all scenarios.
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4. India, UK Seal Historic Free Trade Deal
In a major diplomatic win, India and the UK signed a long-awaited Free Trade Agreement after three years of negotiations. The deal unlocks a $45 billion trade corridor, addresses visa access for Indian professionals, and introduces the Double Contribution Convention to ease social security obligations for cross-border workers.
While hailed as a boost for textiles, automotive, and seafood exports, concerns remain over the UK’s upcoming carbon tax that could hurt Indian steel and cement exports. Still, the FTA is expected to double bilateral trade to $100 billion by 2030, marking a new chapter in India’s global trade diplomacy.
5. SEBI Exposes IPO Scam at Synoptics
In a first-of-its-kind action, SEBI has cracked down on Synoptics Technologies and its merchant banker, First Overseas Capital Ltd, for misusing over ₹19 crore from IPO proceeds. The money was diverted to shell entities a day before listing, with ₹2 crore used to buy Synoptics shares and artificially inflate demand.
SEBI called the misuse “shocking and stunning,” banned FOCL from handling any new IPOs, and barred Synoptics’ promoters from the market. A deeper probe has been launched into 20 other IPOs managed by FOCL. The message is clear: tampering with public money won’t go unpunished.
6. India to Overtake Japan as 4th Largest Economy
According to the IMF’s April 2025 Outlook, India is projected to surpass Japan in 2025 with a GDP of $4.187 trillion, becoming the world’s fourth-largest economy. This rise reflects India’s resilience, reforms, and growing domestic demand—even as growth cools to 6.2% in FY25.
Challenges persist: trade tensions, including recent US tariffs, and slowing momentum may test the climb. But India’s long-term trajectory remains upward, with Germany next in its sights. -
India Gears Up for Worst-Case Scenarios
As Indo-Pak tensions soar post the deadly April 22 Pahalgam terror attack that claimed 26 lives, India’s Ministry of Home Affairs has ordered nationwide civil defence mock drills on May 7. These include air raid sirens, crash blackouts, evacuation rehearsals, and camouflaging critical infrastructure—measures not seen at this scale since the Kargil conflict. The drills follow India’s sweeping diplomatic retaliation: suspension of visas for Pakistani nationals, revocation of the Indus Waters Treaty, sealing the Attari border, and banning Pakistan Airlines. Pakistan hit back by halting all trade and closing its airspace. PM Modi has granted the military full operational freedom to respond. As cross-border ceasefire violations stretch into their 10th day, India is clearly preparing for all possibilities.
Cyber Frontline:
Hackers Hit Indian Defence SitesA digital war is brewing alongside border tensions. Pakistani hacker groups have claimed to breach key Indian defence-linked websites, including the Military Engineer Services and Manohar Parrikar Institute of Defence Studies and Analyses—claims the institute denies. One group alleged access to 10GB of user data. Meanwhile, defacement attempts were made on websites like Armoured Vehicle Nigam and Army Public Schools. Another group, Internet of Khilafah, targeted welfare platforms for ex-servicemen. While cybersecurity teams have foiled most attacks, these waves of digital aggression are adding another layer to the Indo-Pak crisis.
Union Territories Join Centre’s Capex Push
Starting FY26, India’s Union Territories (UTs) will finally be eligible for the Centre’s 50-year, interest-free capital expenditure loan scheme—originally introduced post-pandemic for states only. With ₹1.5 trillion allocated for FY26, 60% of funds will go toward infrastructure, while 40% will be linked to reforms. UTs like Puducherry and Delhi can now tap into this pool to fund critical projects. States like Uttar Pradesh, Bihar, and Madhya Pradesh already top the borrowing list under this scheme. Economists say the move aims to spur public investment and balance development across regions amid slow private capital inflow.
Taj Hotels Bets Big on India’s Travel Boom
Indian Hotels Company Ltd (IHCL), owner of the iconic Taj brand, is doubling down on India’s tourism wave with a ₹1,200 crore investment plan for FY26. After a 53% jump in FY25 net profit to ₹2,038 crore, the company plans to open 30 new hotels, most under an asset-light model. TajSATS, its catering arm, added ₹716 crore to revenues. With rising demand from leisure, business, and MICE segments, IHCL is eyeing higher occupancy rates and room prices, forecasted to cross ₹10,000 by 2026. From legacy luxury to next-gen growth, IHCL is charting a bold path forward.
Skechers to Go Private in $9.4 Billion Deal
Footwear giant Skechers is being acquired by 3G Capital in a $9.4 billion all-cash deal, valuing shares at $63—a 30% premium. Shareholders can also choose $57 cash plus equity in a new private entity. The move comes as global shoemakers brace for US tariffs under President Trump’s trade reset. Despite record revenues of $9 billion in 2024 and $640 million in earnings, Skechers hopes that going private will help it weather geopolitical headwinds, especially as China contributes 15% of its revenue. CEO Robert Greenberg and team will stay on, with headquarters remaining in California. -
Buffett to Step Down
Greg Abel Steps UpIn a surprise announcement at Berkshire Hathaway’s AGM, Warren Buffett, 94, revealed he will retire as CEO by end-2025. His successor: Greg Abel, 62, Berkshire’s vice-chair overseeing its vast non-insurance businesses like BNSF Railways and Dairy Queen. Abel, a low-profile Canadian known for strategic thinking and integrity, has been the designated successor since 2021. The board is expected to formalize his appointment. Buffett’s children won’t lead the company—son Howard will become non-executive chairman, while their $140B stake goes to philanthropy. Abel now prepares to helm the $1 trillion giant, with a clear mandate: preserve the Berkshire culture while navigating a new era.
HDFC Bank’s ₹15 Trillion Comeback
After years of stagnation, HDFC Bank’s market cap has crossed ₹15 trillion, joining Reliance and TCS in the elite club. Its shares surged 35% over the past year, prompting brokerages to raise price targets to ₹2,340. This marks a major reversal from earlier struggles—tech outages, RBI sanctions, and a tough merger with HDFC had battered its performance. CEO Sashidhar Jagdishan stabilized the ship through aggressive credit card pushes, tech upgrades, and branch expansion. Now focusing on SME lending and retail growth, HDFC is poised to ride India’s next wave of economic expansion, even as analysts say one solid quarter could fully reset investor sentiment.
AI Is Now Hiring
Artificial Intelligence is no longer just a productivity tool—it’s becoming the recruiter. Companies like Grapevine, Hyring, AssessHub, and Babblebots are automating early stages of hiring, conducting video interviews, evaluating candidates via facial recognition and behavioral cues. Razorpay, for instance, is testing AI for both screening and onboarding. The results? Up to 80% cost savings and 50% reduction in HR hours. Yet, not everyone is sold—CIEL HR found video-based AI interviews off-putting for candidates. Experts warn the current boom may be “curiosity revenue,” with no clear moats in place. Still, with hiring volume set to rise, AI’s role in HR seems here to stay.
Shell Considers Bold BP Takeover
Shell is quietly exploring a possible acquisition of BP Plc, aiming to capitalize on BP’s 30% stock slump amid weak oil prices and investor unrest. The potential merger would be one of the oil industry’s largest ever, reuniting two British energy giants. But Shell is moving cautiously. CEO Wael Sawan says the “bar is high,” favoring stock buybacks unless a deal clearly boosts value. Activist investor Elliott has taken a 5% stake in BP, urging the company to consider transformative steps. A takeover would give Shell new access to US markets and deepen its oil portfolio—but only if the price, and timing, are right. -
To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms.https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc
1. YouTube Doubles Down on India’s Creator Economy
YouTube CEO Neal Mohan, at the WAVES 2025 summit, pledged an additional ₹8.5 billion to India’s creator ecosystem, on top of ₹210 billion already invested over the past three years. With over 100 million Indian channels uploading in 2024 and more than 15,000 surpassing 1 million subscribers, Mohan called India a rising “Creator Nation.” The platform clocked 45 billion watch hours from Indian content last year alone.
Backing this digital momentum, the Indian government announced a $1 billion creator economy fund and the launch of the Indian Institute of Creative Technology (IICT) in Mumbai, supported by global tech giants like Nvidia, Google, Apple, and Meta.
2. India-Pakistan Border Tensions Escalate Post Pahalgam Attack
Following the April 22 terror attack in Pahalgam that killed 26 civilians, Pakistan has intensified military deployments across the India border. Radar systems and Chinese SH-15 howitzers were positioned in Rajasthan’s Longewala sector. The Pakistan Air Force launched large-scale exercises involving F-16s, J-10s, and JF-17s, signaling heightened readiness.
India, in turn, suspended the Indus Waters Treaty, calling out Pakistan’s alleged cross-border terror links. The geopolitical mood remains tense, with both countries maintaining high alert levels.
3. Pre-IPO Funding Faces Chill as Markets Wobble
Volatile public markets have started to dent private funding too—especially pre-IPO deals. Investors, including HNIs and family offices, are pushing for discounted valuations, stricter terms, and longer timelines before committing funds.
Big names like Zepto, Groww, and Cred are said to be in talks, but several deals are being renegotiated or delayed. While 2024 saw $355 million raised across 17 pre-IPO deals, caution is now the dominant theme. Weak post-listing performances by firms like Ola Electric and Swiggy, and the broader 7% decline in Nifty since September, have soured sentiment.
4. Markets Cautious, But India Still a Bright Spot
A Mint survey of 30 investment professionals reveals that while volatility is expected to remain high—thanks to Trump’s tariff war and domestic uncertainty—India may still emerge as a relatively stable investment zone.
Over 77% of experts expect continued choppiness over the next quarter, though 63% believe large-cap stocks now offer attractive entry points. Mid- and small-cap stocks remain under watch after sharp corrections.
Gold, meanwhile, is shining bright—up 31% in 2025 so far—and expected to outperform equities again if global turbulence persists. IPOs have largely dried up, but 53% of analysts see a cautious revival in high-quality names later this year.
5. Sebi Clears IndusInd Execs of Insider Trading
Sebi has closed its investigation into insider trading allegations against IndusInd Bank’s former CEO Sumant Kathpalia and deputy CEO Arun Khurana. It found all ESOP-related trades were disclosed and occurred post-vesting.
However, a forensic audit revealed Khurana had knowledge of the incorrect forex derivative accounting that caused a ₹1,960 crore hit. While insider trading wasn’t established, governance questions linger. The bank is still grappling with reputational fallout amid ongoing regulatory scrutiny. - Laat meer zien
