Mint Mumbai - May 06, 2025

In this issue

May 06, 2025

Sumitomo gets RBI nod to pick 51% in Yes Bank

SMBC's voting rights to be capped at 26%; deal may value Yes Bank at $1.7 billion

3 mins

As Buffett steps down, Omaha is grateful—and a little worried

Investors worldwide have plenty of questions about the future of Berkshire Hathaway after Warren Buffett leaves the top job.

4 mins

Centre weighs impact as Airtel wants dues converted to equity

Bharti Airtel's proposal to convert ₹40,000 crore of its adjusted gross revenue (AGR) dues into government equity has been handed for evaluation to the department of investment and public asset management (DIPAM), according to two officials aware of the matter.

3 mins

Drug firms failing quality check may lose licence

Drugmakers failing random quality checks could potentially be deemed guilty until proven innocent under a fresh crackdown by the Centre on substandard, spurious and adulterated medicines.

3 mins

How IndusInd Bank Spotted a ₹600-cr Error in Microloans

IndusInd Bank's statutory auditors were reviewing the lender's latest quarterly numbers when they noticed something amiss: the bank had bunched interest income from many microfinance loans together, instead of making individual entries for them. The auditors flagged the matter to the lender, uncovering a ₹600 crore discrepancy, three people aware of the matter said.

2 mins

KKR Revives Sale of RE Sustainability, Eyes Up to $1.5 Billion

American private equity (PE) giant KKR is planning to relaunch the sale of its waste management portfolio company after a delay of almost a year, three people with knowledge of the matter said.

1 min

New template for trade agreements

India has thus far been pushing for its skilled labour to be allowed to live and work temporarily in nations like the UK

2 mins

Pahalgam: India starts 'flushing' hydro projects

India has begun work to boost reservoir holding capacity at two hydroelectric projects in Jammu and Kashmir, people with knowledge of the matter told Reuters, after fresh tension with Pakistan led it to suspend a water-sharing pact.

1 min

Sitharaman Urges ADB to Speed Up Financing Deals

Finance minister Nirmala Sitharaman on Monday urged the Asian Development Bank (ADB) to cut the processing time for its lending transactions and either enhance or better manage the capital available for lending.

1 min

Law ministry to start work on plugging gaps in arbitration law

The law ministry will start working on a bill to plug procedural gaps in the arbitration law following a Supreme Court directive, according to two people aware of the developments.

1 min

UTs Can Now Access 50-Year Interest-Free Loans

The inclusion aims to ensure uniform development and

1 min

3G Capital to Acquire Skechers for $8.2 Billion

Investment firm 3G Capital will acquire footwear maker Skechers USA Inc. for $8.2 billion, the company said in a statement on Monday.

1 min

Live entertainment takes centre stage on streaming apps

Industry experts say the appeal lies in the unpredictability of live content: it's raw, real-time and communal

2 mins

New US bill to keep tabs on Nvidia chips

US lawmaker plans to introduce legislation in coming weeks to verify the location of artificial intelligence (AI) chips like those made by Nvidia after they are sold.

1 min

Eight quantum startups get help from govt to build apps

The startups will get up to ₹30 crore each in phase one of the National Quantum Mission

3 mins

QED Plans to Invest $300 Mn in Apac in Next Five Years

Intech-focused global investment firm QED Investors, which started investing in Asia in 2020, expects to deploy $250-300 million in the region over the next five years, a top company official said.

2 mins

No imminent change to space FDI strategy

The Centre does not intend to alter its foreign direct investment (FDI) strategy in the space sector, said Pawan Goenka, chairman of the Department of Space-affiliated regulatory body for the space industry, Indian National Space Promotion and Authorization Centre (In-Space), on Monday.

2 mins

Sensex rises to highest in 2025 on FII inflows

Benchmark BSE Sensex climbed nearly 295 points to close at an over four-month high on Monday following sustained foreign fund inflows and a sharp correction in global crude oil prices.

1 min

Quick commerce rivals are coming after DMart's turf

Stressed Out

1 min

Treasury gains cushion SBI in Q4

Unpredictable trend SBI's huge treasury operations with volatile income lead to profit swings.

2 mins

After correction, institutional appetite for mid-caps grows

Diverging trends

1 min

Non-core income boosts banks' Q4 show

More than loans

2 mins

Automobile retail sales rise 3% in April

Total auto sales in April stood at 2,287,952 units. All categories except commercial vehicles closed in the green

1 min

M&M breezes past slowdown concerns

Automaker's revenue, profit rise 20% in traditionally slow March quarter

2 mins

Asia Healthcare to buy Dr Dangs Labs

Asia Healthcare Holdings (AHH), backed by Singapore's sovereign wealth fund GIC, is set to acquire a majority stake in Dr Dangs Labs, a diagnostic chain operating in Delhi and Gurugram, said two people aware of the development.

1 min

Saudi Push Into India Refining Stalls Over Crude Supply

Aramco Is Looking To Help Set Up Multibillion-Dollar Refineries In High-Growth Nations Including China And India

1 min

Rise of pet parents sparks scramble for fundraising

Pet care startups like Heads Up For Tails, Supertails, Vetic are looking for capital

2 mins

New satcom licences for India-only ops: Centre

The Department of Telecom on Monday issued stringent security norms mandating legal interception of satellite communication services and barred companies from linking connection of users in any form with any terminal or facility located outside the country's border as well as processing of their data overseas.

1 min

IHCL bets on Taj, new hotels, plans to invest ₹1,200 cr

While same-store RevPAR grew 12% in India and 7% overseas, its management fee income jumped 20% to ₹562 crore

2 mins

Sebi's Proposed Expiry Rule May Derail MSEI Revival Plan

The exchange's strategy to carve out a niche with SX40 contracts may no longer be viable

3 mins

Ukrainian naval drones shoot down Russian jets in military first, Kyiv says

The Kremlin said Russia's offer of a brief cease-fire is a test of Ukraine's willingness to work toward peace

2 mins

To win monopoly fight, Meta is touting a rival: TikTok

Meta Chief Executive Mark Zuckerberg said Instagram and Facebook have become more like TikTok

3 mins

Greg Abel's challenge: Lead Berkshire into a new era without the Buffett touch

For the first time in decades, Berkshire Hathaway is getting a new chief executive

6 mins

Marico CEO's term extended by 2 yrs

Home-grown fast-moving consumer goods (FMCG) major Marico Ltd said it has extended the tenure of managing director and chief executive officer (CEO) Saugata Gupta by re-appointing him for the next two years.

1 min

Rupee strengthens as crude price falls

The rupee surged 24 paise to 84.33 (provisional) against the US dollar on Monday, supported by a decline in crude prices and a positive trend in domestic equities.

1 min

Top-level rejig at Volkswagen India

German automaker Volkswagen Group's Indian subsidiary Skoda Auto Volkswagen India Pvt Ltd (SAVWIPL) on Monday announced the appointment of Ashish Gupta as brand director of Skoda India and Nitin Kohli as Volkswagen Passenger Cars' brand director, effective from 1 May.

1 min

Amplus Solar rebranded Gentari

Malaysian clean energy solutions provider Gentari has integrated its commercial and industrial (C&I) arm, Amplus Solar, into the Gentari brand.

1 min

Coforge's profit misses expectation

Coforge posted fourth-quarter profit below estimates, as the IT company was hurt by increased expenses.

1 min

Manappuram stake: Bain seeks CCI nod

Investment firm Bain Capital on Monday sought the approval of fair trade regulator Competition Commission of India (CCI) to acquire a significant stake in non-banking financial company Manappuram Finance through a multi-layered deal.

1 min

India Sees Debut RMBS Listing

India saw the listing of its first residential mortgage-backed securities sold through the bidding route on Monday.

1 min

Vedanta to repay + $920 mn debt

(VRL), as part of a deleveraging exercise, has proposed to repay a $920 million debt in the current fiscal year and about $675 million in the next, a company official said.

1 min

Israel May Seize All Gaza in Expanded Operation, Officials Say

Israel may seize the Gaza Strip and control aid in an expanded offensive against Palestinian militant group Hamas that was approved by Prime Minister Benjamin Netanyahu's security cabinet on Monday, officials said.

1 min

Northwest India Likely to See Thunderstorms, Rains This Week

IMD Says Power and Communication Lines May Be Disrupted, Fruit Crops Damaged

1 min

Will Investors Back Ather's Electric Ambitions?

In terms of market share, Ather has a long way to go in electric two-wheeler sales. It still trails Ola Electric and TVS Motor by some distance.

8 mins

Will NRI share swap trigger taxes in India?

I am a non-resident Indian (NRI) and hold shares in a US-based company whose parent is in India. I've been informed that, as part of a restructuring, the Indian parent is offering existing shareholders of its US subsidiary the option to either exit or exchange their US shares for shares in the Indian company.

1 min

Travel smart: Get your Schengen, US visa for a smooth summer trip

A comprehensive guide to help you avoid visa rejections and guarantee your summer vacation goes as planned

6 mins

Volatile Markets Ahead? Where to Park Your Money

Diversify your investments across different asset classes to mitigate risks in volatile times

3 mins

Permit easier access to over-the-counter meds

There's a clear case for letting regular retailers sell prescription-free medicines. The Indian market for drugs would benefit if supply curbs are eased to enable wider consumer access

2 mins

The 'alignment problem' of our systems has festered for too long

If we don't fix our systems, they'll eventually collapse under the weight of their own contradictions

3 mins

Complete justice: Invoke Article 142 only in rare cases

The Tamil Nadu case has revived calls for judicial restraint in the use of this extraordinary power

3 mins

The arc of history bending to justice is a worrisome fallacy

This famous saying fosters complacency that lets injustice prevail

3 mins

Economic Tailwinds Will Help the US Overcome Tariff Headwinds

Its strong institutions and zest for innovation will keep growth going even as Trump is forced to back-track on his policies

4 mins

China began de-risking well before Trump's trade fury

Beijing has been working quietly even as Trump attacks the very foundation of American supremacy

3 mins

Lat up: Workouts to help you get that V-back

For a strong and fab back, try these simple exercises that focus on your lats

2 mins

Boost your mood, treat your brain to good food

The emerging science of nutritional psychiatry sees food as an essential component to regulate emotions and enhance overall mental health

4 mins

Why autism in Indian women is often overlooked

When Shreya Pawar from Mumbai was first diagnosed with borderline personality disorder in her late twenties, the label seemed to explain her whirlwind of emotions, constant anxiety, and frequent shutdowns.

3 mins

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