India

In a strategic move signaling a reshaping of its investment priorities, the State Bank of India (SBI) has announced the sale of a 13.19% stake in Yes Bank to Japan’s Sumitomo Mitsui Banking Corporation (SMBC) for a total consideration of Rs. 8,888.97 crore. The divestment involves over 413 crore shares, priced at Rs. 21.50 apiece, and is contingent on statutory approvals. This marks a significant shift for SBI, which currently holds a 24% equity stake in Yes Bank.

A high-stakes feud has erupted in India’s online travel industry as EaseMyTrip Founder and Chairman Nishant Pitti leveled fresh allegations against competitor MakeMyTrip, accusing the company of harboring significant Chinese influence at the board level. In a series of pointed posts on X (formerly Twitter), Pitti claimed that half of MakeMyTrip’s board members have direct ties to China, raising national security concerns and suggesting that strategic decisions are unduly influenced by directors linked to Chinese interests.

India’s foreign exchange reserves witnessed a sharp rise of USD 4.553 billion, reaching USD 690.617 billion for the week ended May 9, 2025, according to data released by the Reserve Bank of India (RBI). The growth was largely driven by a significant jump in the country’s gold reserves, which increased by USD 4.518 billion. This recovery follows a dip in the previous week and reinforces India’s robust external position, even as minor declines were observed in other components such as Special Drawing Rights (SDRs) and the IMF reserve position.

Sterling Tools Ltd, through its subsidiary Sterling Gtake E-Mobility Ltd (SGEM), has made a strategic foray into the manufacturing of rare earth magnet-free traction motors for electric vehicles. This move follows a technology licensing agreement with UK-based Advanced Electric Machines (AEM) Ltd, positioning Sterling as a key player in India’s evolving EV powertrain ecosystem. The initiative not only enhances domestic technological capabilities but also reduces reliance on China-dominated supply chains. With projections indicating a Rs.

Airbnb is intensifying its focus on India, leveraging the country's massive population of millennials and Gen Z to fuel growth. According to Co-Founder and Chief Strategy Officer Nathan Blecharczyk, India represents a pivotal market for the global accommodation platform, particularly as younger generations seek unique travel experiences. Airbnb's strategic rollout of features such as Airbnb Experiences and its revamped mobile app is tailored to these demographics.

In a highly anticipated announcement, the Central Board of Secondary Education (CBSE) has officially released the 2025 results for both Class 10 and Class 12, impacting over 42 lakh students across India. The results are accessible through official digital portals, reflecting India’s ongoing shift toward digital-first education services. This significant event not only marks a critical academic milestone for millions of students but also carries notable economic implications, particularly for education technology companies and digital infrastructure providers.

Bollywood actress Alia Bhatt and her mother, actress Soni Razdan, have sparked controversy after Razdan shared a petition calling for peace between India and Pakistan. The petition, urging an end to hostilities, was met with backlash, particularly due to Bhatt’s British citizenship. Critics questioned their loyalty to India, with some accusing them of not understanding the ground realities of the ongoing conflict. In response, Soni clarified that her message was directed at Pakistan, not India, and expressed her deep devastation at the horrors of war.

In a significant step toward sustainable industrial practices, the Indian government has launched a digital platform designed to modernize the country’s non-ferrous metal recycling sector. Spearheaded by the Ministry of Mines, this initiative aims to consolidate data, foster stakeholder collaboration, and drive evidence-based policymaking in the recycling of critical metals such as aluminium, copper, lead, zinc, and rare elements.

Kamdhenu Ltd, a prominent player in India's steel products market, reported a modest 2% rise in net profit for the fourth quarter of FY25, reaching Rs. 17.1 crore, compared to Rs. 16.8 crore in the same period last year. The growth was underpinned by a 12% year-on-year increase in revenue, largely driven by stronger volumes from both owned production units and franchise operations. For the full fiscal year, net profit surged 21% to Rs. 61 crore.

In a decisive move reflecting the gravity of national security, the Board of Control for Cricket in India (BCCI) has suspended the remainder of the Indian Premier League 2025 for one week. This decision follows escalating tensions along the India-Pakistan border and recent military operations conducted by Indian armed forces in retaliation to a deadly terrorist attack in Jammu and Kashmir. The suspension came immediately after the abrupt cancellation of a match between Delhi Capitals and Punjab Kings in Dharamsala.