India's external affairs minister firmly stated that relations with Pakistan will remain bilateral, prioritizing the cessation of cross-border terrorism. He urged Pakistan to hand over terrorists accused of attacking India and dismantle terrorist infrastructure. Regarding the Indus Waters Treaty, India indicated it would be held in abeyance until Pakistan credibly stops cross-border terrorism.
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Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, started trade on a choppy note on Thursday. While Nifty50 was near 24,650, BSE Sensex was below 81,300.
Assam Rifles successfully neutralized ten militants in a recent operation along the India-Myanmar border in Manipur's Chandel district. Acting on intelligence reports, the Assam Rifles contingent engaged the militants in challenging terrain near the border pillars. An unspecified amount of arms and ammunition were recovered from the slain militants, who are suspected to be members of Myanmar-based armed groups.
India declared a Pakistani official persona non grata. The official was asked to leave within 24 hours. This action follows a previous expulsion of another Pakistani official earlier in May. Tensions rose after India's counterterror operation and strikes on terror launchpads across Pakistan. Pakistan responded with drone incursions. India then destroyed key Pakistani military installations. A ceasefire was later reached.
Tata Steel's EBITDA met expectations, with volume growth aided by capacity and seasonal factors, says CLSA, while Jefferies highlights UPL's strong EBITDA growth and improved balance sheet. Nomura notes ABB's below-consensus numbers, but decent order inflows. HSBC upgrades IIFL Finance anticipating earnings recovery, while Motilal Oswal is bullish on Jindal Stainless, projecting sustainable growth and deleveraging.
India's private sector is witnessing a surge in investment, with companies securing a record $11 billion in external commercial borrowings (ECBs) in March 2025. This five-year high, driven by confidence in India's economic prospects, saw approvals granted to firms like Foxconn's Yuzhan Technology and JSW Steel. For FY25, total ECB proposals reached $61.
Following the Pahalgam terror attack, stakeholders organized a roadshow from Srinagar to Pahalgam to revive tourism. The roadshow aimed to convey that Kashmir is safe. It was stopped 30km before Pahalgam due to security concerns. Participants included shikara operators, hoteliers, and travel agents. Chief Minister Omar Abdullah expressed dismay over the impact on tourism.
Zerodha's Nikhil Kamath questioned Bengaluru police officials about VIP traffic exemptions in his podcast. Commissioner Dayananda admitted preferential treatment for high constitutional post holders due to security concerns. Joint Commissioner Anucheth clarified that priority signaling is based on security needs, not widespread privilege. Both commissioners agreed that fewer individuals receiving such treatment would be preferable.
Following a US-China trade agreement where tariffs are suspended for 90 days, President Trump claimed Apple CEO Tim Cook plans to increase US investments, potentially building more plants. This news follows reports of Apple considering iPhone price hikes, possibly linked to tariffs.
In a surprising turn, Jitesh Sharma is leading Royal Challengers Bengaluru against Sunrisers Hyderabad, replacing Rajat Patidar who was named as Impact Player. RCB, aiming for a top-two finish, won the toss and elected to field, bringing in Mayank Agarwal for Devdutt Padikkal. Sunrisers Hyderabad, already eliminated, included Travis Head, Abhinav Manohar, and Jaydev Unadkat in their lineup.
In Delhi, a 24-year-old businessman from Bihar, Arun Mehto, was murdered due to an illicit affair. Police arrested a couple after discovering the wife's relationship with Mehto. The husband, upon learning of the affair, coerced his wife to lure Mehto to a secluded area where he fatally struck him with an iron rod, disposing of the body in Maidan Garhi.