Central Depository Services Limited (CDSL) shares are recovering remarkably. The stock rose 60.4% from its March low. It reached a high of Rs 1,680 on Monday.
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Britain plans a significant boost to its defence industry. The government will invest £1.5 billion in new weapons factories. This aims to increase production capacity. The move comes ahead of a major defence review. The review will address the threats from Russia, China, Iran and North Korea. The UK also plans to increase defence spending to 3% of GDP.
Ola Electric experienced a significant downturn in the March quarter, with revenue plummeting by 60% to Rs 649 crore and net losses widening to Rs 870 crore. Deliveries also sharply declined to 51,375 units, reflecting a substantial drop in demand, particularly in the premium segment.
India's foreign exchange reserves rebounded, climbing by $6.992 billion to $692.721 billion in the week ending May 23, according to the RBI. This increase was driven by a rise in foreign currency assets and gold holdings.
The Income Tax Department has released the Excel utility for ITR-1 and ITR-4. This is for the Assessment Year 2025-26. Taxpayers can now file returns for income earned in financial year 2024-25. The deadline for these ITR forms is extended to September 15. Individuals and HUFs with income up to Rs 50 lakh can use these forms.
Little Caesars, the world's third-largest pizza chain, is set to launch in India this month, marking its 30th global market. Partnering with Harnessing Harvest, the Detroit-based brand will open its first outlet in the Delhi-NCR region. This expansion comes as India's pizza market is projected to reach $11.8 billion by 2033, dominated by players like Domino's and Pizza Hut.
Ircon International's stock price increased significantly. This happened after the company secured new projects. These projects are in railway, power, and industrial infrastructure. The company won contracts worth over Rs 898 crore in May. Ircon secured a project from Kerala State IT Infrastructure Ltd. It also bagged a contract from North Eastern Electric Power Corporation.
Gautam Adani asserts the Adani Group's resilience and strategic adaptation amidst acquisitions and scrutiny, planning a $15–20 billion investment over five years. Despite facing allegations from Hindenburg Research and US authorities, the group has reduced debt, attracted investments, and reported record earnings. Adani emphasizes strong governance and compliance, highlighting expansion across various sectors and contributions to India's ambitions.
India's services sector performed well in May. The HSBC India Services PMI Business Activity Index increased. This indicates growth in activity, hiring, and international demand. Companies hired more staff at a record pace. Export orders surged, especially from Asia, Europe, and North America. Businesses are optimistic about future activity. The HSBC India Composite PMI Output Index was 59.3 in May.
Vodafone Idea is in talks with the government for AGR relief following a Supreme Court dismissal, crucial for its sustainability beyond FY26. CEO Akshaya Moondra highlighted the need for revised pricing amid low ARPU and industry challenges.
Asian markets displayed caution amid tech-driven Wall Street gains, with trade headlines and geopolitical risks influencing investor sentiment. The US extended tariff exclusions on Chinese goods, while the Trump administration sought renewed trade proposals and a call between presidents.