🌍 Global Headlines
🇺🇸 Trump’s 5% Remittance Tax Proposal
Former U.S. President Donald Trump has proposed a 5% tax on all remittances sent from the U.S. to other countries. This move could significantly impact countries like India, which received $83 billion in remittances last year. The tax aims to generate revenue and address immigration concerns but may strain economic ties with allied nations.
🇺🇸 U.S. Warns Against Using Huawei AI Chips
The U.S. government has issued warnings that using Huawei’s AI chips, such as the Ascend series, could violate export controls. Companies found using these chips may face criminal penalties, as the U.S. seeks to curb China’s technological advancements.
🇮🇳 India Denies Trump’s ‘Zero-Tariff’ Deal Claim
India’s External Affairs Minister S. Jaishankar refuted claims by Donald Trump that India agreed to a ‘zero-tariff’ trade deal with the U.S. Jaishankar emphasized that any trade agreement must be mutually beneficial and based on reciprocity.
🇮🇳 Indian Business & Economy
🛡️ Operation Sindoor Boosts Defense Stocks
Following Operation Sindoor, Indian defense companies have seen a surge in market capitalization, reaching ₹11.23 lakh crore. Stocks like HAL, BEL, and Cochin Shipyard have experienced significant gains, driven by increased defense spending and export growth.
📈 India’s Unemployment Rate at 5.1% in April
India reported a 5.1% unemployment rate for April 2025, according to its first-ever monthly labor force survey. This new data collection approach aims to provide timely insights into the labor market, aiding in policy formulation.
🚫 Ban on Sale of Pakistani Flags Online
The Central Consumer Protection Authority (CCPA) has issued notices to e-commerce platforms like Amazon and Flipkart, directing them to stop the sale of Pakistani flags and related merchandise in India. This action aligns with national sentiments and recent geopolitical developments.
🛍️ Corporate Updates
🍽️ Zomato and Swiggy Introduce Rain Surcharge
Food delivery giants Zomato and Swiggy have implemented a rain surcharge fee, ranging from ₹10 to ₹15, even for their premium members. This move aims to compensate delivery partners for challenging weather conditions and has positively influenced investor sentiment.
📈 Groww Plans IPO Amid Market Decline
Investment platform Groww is set to file for an Initial Public Offering (IPO) within the next two weeks, targeting a valuation between $7 billion and $8 billion. This comes despite a decline in active investors and overall market downturn in the trading industry.
🚚 Peak XV Exits Porter with 11x Return
Venture capital firm Peak XV Partners has exited logistics startup Porter, realizing an 11x return on its initial investment.The exit follows Porter’s recent $200 million funding round, highlighting investor confidence in the logistics sector.
🛡️ Policybazaar’s Profit Surges by 439%
Policybazaar’s parent company, PB Fintech, reported a 439% increase in net profit for FY25, reaching ₹345 crore. The company’s revenue also grew by 45% year-on-year, driven by robust performance in its core insurance business.
🚚 Delhivery Reports ₹72 Crore Profit in Q4
Logistics firm Delhivery posted a net profit of ₹72 crore in Q4 FY25, a significant turnaround from a ₹68 crore loss in the same quarter the previous year. The company’s revenue increased by 6%, reflecting operational efficiencies and cost control measures.
🤖 Technology & Innovation
🧠 OpenAI to Acquire Rain AI
OpenAI is in talks to acquire Rain AI, a startup specializing in energy-efficient AI chips. The acquisition aims to enhance OpenAI’s hardware capabilities and reduce dependence on traditional chip manufacturers like NVIDIA.
🚗 Tesla Plans New Pay Package for Elon Musk
Tesla is designing a new compensation package for CEO Elon Musk after a previous $56 billion package was voided by a court. Musk has expressed his intention to remain as Tesla’s CEO for at least the next five years, focusing on the company’s growth and innovation.
☕ Starbucks Considers Selling China Business Stake
Starbucks is reportedly exploring the sale of a stake in its China business, contacting private equity firms for potential deals. The move comes amid increasing competition and regulatory challenges in the Chinese market.
📉 Market Snapshot
📊 Mutual Funds Reduce Exposure to Adani Group
In April, mutual funds sold shares worth over ₹1,160 crore across various Adani Group companies, including Adani Enterprises and Adani Green Energy. This marks a continued trend of reducing exposure to the conglomerate amid market volatility.
📉 Sensex and Nifty50 Experience Minor Decline
The Indian stock market witnessed a slight downturn, with the Sensex slipping by 200 points and the Nifty50 closing near the 25,000 mark. The decline is attributed to corrections in the IT sector and investor concerns over AI’s impact on revenue streams.
