Stories from earlier this week and beyond.
A Vienna-based data protection group, NOYB, has filed a complaint in Austria against LinkedIn, alleging the platform sells user data. The complaint was submitted to the Austrian Data Protection Authority on behalf of a user seeking access to his information. The case could intensify scrutiny of how professional networks handle and monetize personal data.
Tata Technologies shares jumped more than 9% in Tuesday’s trading after the company reported an 8.1% rise in Q4 net profit, compared with Rs 189 crore in the same period last year. The stock also hit an intra-day high of Rs 649, signaling strong investor confidence despite limited details in the brief report.
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FIIs have sold Indian equities on 150 of the past 240 trading days, a pattern analysts link to higher oil prices, a weaker rupee, and rising US bond yields. While global money is also rotating toward AI themes, domestic investors are picking up the slack, helping hold up the broader market despite sustained foreign selling pressures.
US-Indian space company Pixxel is partnering with Bengaluru AI startup Sarvam to build “Pathfinder,” an orbital data-centre satellite. Pixxel will design, build, launch and operate it, while Sarvam’s full-stack language models will train and run inference in orbit on data-centre-class GPUs. The aim: process hyperspectral imagery and generate insights in real time, cutting delays and reducing dependence on Earth-based cloud infrastructure.
India condemned an attack in Fujairah that injured three Indian nationals, calling it “unacceptable.” In response to growing West Asia tensions tied to the Iran conflict, New Delhi urged an immediate cessation of hostilities and said peace should be restored through dialogue and diplomacy.
Kazakhstan’s President Kassym-Jomart Tokayev is pushing for a rapid shift to an AI-powered, real-time economy. He warned that sticking with traditional growth models is becoming ineffective and that delay could widen the global gap. The plan calls for unified digital transformation, faster decision-making, and stronger private sector and venture ecosystem involvement.
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After BJP’s record win in Assam for a third consecutive term, Chief Minister Himanta Sarma renewed his attack on Congress leader Pawan Khera, saying “Assam made Pawan Khera eat pera/peda.” The taunt follows Khera’s allegations about foreign links and assets tied to Sarma’s wife, which the CM denies and says he is taking legal action over.
Defence mutual funds have surged as much as 25% in just a month, fueled by heightened geopolitical tensions. But experts caution investors not to chase the spike, pointing to stretched valuations and long, execution-heavy project timelines typical of the sector. They suggest a gradual entry strategy and wider diversification instead of betting everything after a rapid rally.
A man in Madhya Pradesh, Rajendra Ahirwar, has been arrested for allegedly murdering his wife Jyoti and leaving their two-year-old son alone in a forest across Raisen and Vidisha districts. After nearly 20 hours in the wilderness, the child was found during a massive search using drones and dog squads. The accused reportedly confessed to the crime.
Asian economies are racing to manage an energy shock tied to the Iran war, as surging oil prices and supply disruptions squeeze households and businesses. Governments are using subsidies, drawing down reserves, and tightening controls, but the cost is mounting. Growth forecasts are being trimmed while inflation expectations rise, reflecting the hit from higher energy prices.
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Indian markets opened lower Tuesday as fresh US Iran attacks boosted risk aversion and the rupee tumbled to a record low. Sensex fell more than 250 points and Nifty slipped below 24,100, with PSU and private banks among the biggest laggards. Despite the pressure on frontline indices, small and midcap segments held up better, trading in the green.
Indian benchmarks Nifty 50 and Sensex are expected to open gap down on Tuesday, May 5, following weakness in global markets. Escalating uncertainty around the US Iran war is a key trigger for risk-off sentiment. Gift Nifty trends are also pointing toward a negative start, suggesting both indices may begin the session in the red.
Delhivery has granted over 1 lakh stock options to employees under its ESOP 2012, effective May 1. The options can be exercised at Re 1 and vest over four years, with an initial tranche after 12 months followed by remaining vesting phases. The plan is designed to retain talent by tying rewards to equity and long-term wealth creation.
Paula Abdul and Randy Jackson returned to American Idol after two decades for a Class of 2006-themed episode. Simon Cowell did not appear, but Paula joined the current judges while Randy mentored the top five finalists. The surprise reunion marks 20 years of the show’s defining performances and its role in launching new talent.
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Manappuram Finance shares slipped around 3% even after reporting strong Q4 FY26 profit, as the market wrestled with how much the gold-loan surge should influence future performance. The company paired results with an interim dividend. Jefferies upgraded the stock to Buy with a higher target, while Morgan Stanley remained cautious despite the upbeat quarter.
India’s retail car sales hit an all-time high in April, with passenger vehicles rising sharply as rate cuts, easier financing, and strong rural demand boosted buying. But dealers and industry watchers are bracing for a tougher road ahead, warning that Middle East tensions and rising fuel prices could cool demand in the coming months and pressure inventory management.
IMF chief Kristalina Georgieva warns the global economy could face a much worse outcome if the Middle East conflict drags into 2027. She cautioned that oil prices may climb to $125 per barrel, weighing on growth and de-anchoring inflation expectations. The IMF also flags risks from physical oil shortages.
Wockhardt shares jumped around 9% after the pharma firm reported a strong March-quarter turnaround. Net profit returned to positive territory as revenue rose sharply, and full-year earnings improved too. Biotech operations drove much of the momentum, supported by expansion across emerging markets. The company also said its pipeline grew through new filings and approvals.
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The US and Gulf Arab nations are preparing a new UN Security Council draft resolution condemning Iran for actions affecting the Strait of Hormuz. After an earlier effort was blocked by Russia and China, the new text reportedly targets Iran’s mining of waterways and seeks measures that would impose tolls. The push adds fresh friction around a vital global shipping route.
Investor demand for US equities cooled sharply as fund inflows fell to a six week low of $911 million. A surge in oil prices and mounting uncertainty around interest rates—especially with the Federal Reserve policy decision approaching—has weighed on risk appetite, prompting investors to stay cautious and reduce exposure to equities.
The US says it has reopened a key shipping lane in the Strait of Hormuz after a security operation involving Iranian forces. It claims it sank six boats targeting civilian vessels and allowed two US flagged merchant ships to pass through safely. The move follows heightened tensions and is framed as part of efforts to keep regional shipping lanes open despite threats.
Under PMGSY, a 13-kilometer road project worth Rs 29 crore is being built in Rajouri’s Doongi belt to connect remote border panchayats and link three key blocks. Locals expect faster travel, better access to healthcare and education, and easier movement of goods. The work aims to meet long-standing demands while strengthening local development and livelihoods.
IPO investors are bracing for lock-in expiries from May to August, when shares of 83 newly listed companies worth about $55 billion become eligible for trading. Big names including Lenskart, Groww, and Pine Labs are among those scheduled to see lock-ins end, raising expectations of volatility as early investors may sell and supply increases.
Apple has reportedly held exploratory discussions with Intel and Samsung Electronics about producing the main processors for its devices, according to Bloomberg, citing people familiar with the talks. The move, if pursued, could diversify Apple’s chip supply chain and reshape how key processors are manufactured, with implications for US-based production and long-term sourcing strategy.
Indian entrepreneurs are rethinking the internet as organic reach shrinks and marketplace and ad costs rise. A Manali chocolatier shut off “rented” visibility by building an owned website, triggering a surge in organic orders and stable monthly revenue. With AI website building lowering barriers and search plus UPI boosting direct credibility, more businesses are moving from social pages to controllable digital storefronts.
President Trump’s pull on the Republican Party will be tested in Tuesday primaries across Indiana, Ohio and Michigan. Indiana Republicans battle as seven state senators face Trump backed challengers. Ohio decides nominees for major Senate and governor races. Michigan fills a state Senate seat in a bellwether district. The results will signal how strong Trump’s influence remains.
After the BJP’s sweeping win of 206 seats, violence erupts in West Bengal. The TMC alleges BJP involvement in arson and vandalism at its Siliguri office, sharing social media footage it says proves “crossing all limits.” The tension follows Mamata Banerjee’s setback, with her Bhabanipur seat lost to Suvendu Adhikari by over 15,000 votes.
R Sabarinathan, the son of TVK chief Vijay’s driver, stunned voters in Virugambakkam by defeating the sitting DMK MLA by more than 27,000 votes. His win, alongside TVK’s broader gains, hints at a possible break from traditional Dravidian dominance and sets a striking tone for Vijay’s political debut.
OnEMI Technology Solutions’ Rs 926 crore IPO is seeing only moderate interest. By Day 2, overall subscription stands at about 60%, led mainly by institutional investors, while retail participation remains comparatively low. With the grey market premium staying under 1%, signals point to cautious sentiment and a softer near-term trading outlook.
Krutrim, India’s first AI unicorn, is shifting into a focused domestic AI Cloud Services business. For FY26, it reported sharp growth, including 3x revenue expansion and its first annual net profit. The company says the change reflects a more sustainable, infrastructure-led model, powered by an entirely in-house platform used by more than 25 large enterprise customers across sectors.
Powerball’s jackpot is back to $20 million for the May 4 drawing after Monday night failed to produce a confirmed top-prize winner. The previous $20 million prize was split by players in Florida and Texas. The next drawing is May 6, with tickets available across 45 states and other territories, keeping big-win hopes alive.
Popular Malayalam actor Santhosh Nair has died following a road accident in Pathanamthitta. His car reportedly collided with a lorry, and he later suffered a heart attack during treatment, according to reports. Nair began acting in 1982 and went on to appear in over 100 films, known for playing a wide range of roles.
Tamilaga Vettri Kazhagam’s near-majority win in Tamil Nadu is being traced to Vijay’s long game: turning fan networks into welfare-led groups, using independent candidates to test electoral traction, and building a disciplined cadre supported by volunteer networks and a standout symbol. The result delivered 108 seats—just short of the majority—without losing organization momentum.
Iran has denied any role in a drone strike on UAE oil facilities, blaming instead what it calls US “military adventurism.” Iran says its navy fired warning shots at US warships in the Strait of Hormuz, while the US claims it destroyed Iranian military boats. The exchange raises fears of escalation during a fragile Middle East war ceasefire.
The Indian rupee slid to a fresh record low of 95.39 per USD following US and Iranian strikes in the Gulf. Markets reacted with renewed caution, with investors focusing on how higher energy costs could worsen India’s import bill and economic outlook. Other Asian currencies also weakened, underscoring the regionwide stress around oil prices.
KIFS Housing Finance has appointed Selvin Uthaman as its new CEO. Uthaman previously served as Chief Business Officer at Aavas Financiers, bringing experience in building and scaling retail lending businesses. The move signals a push toward growth in KIFS’ lending operations, with leadership aligned to expanding its retail portfolio and execution capabilities.
The US Treasury has lifted its estimate for current-quarter net borrowing to $189 billion after cash flows came in weaker than expected. For the next quarter, July-September, it projects $671 billion to be raised. Investors are watching for further updates, since changes in borrowing plans can influence rates and market expectations.
Nancy Guthrie, the mother of Savannah Guthrie, has been missing for more than three months. Authorities, including the FBI, are still investigating after she vanished from her Tucson home amid early suspicions of abduction. Despite multiple leads, no suspect has been arrested. Her family has requested privacy, leaving the public with few details and a growing sense of unease.
CENTCOM says it deployed Sea Hawk and Apache helicopters in the Strait of Hormuz to “eliminate Iranian small boats” it claims threaten commercial shipping. The action is part of “Project Freedom,” using more than 100 aircraft from land bases and two carriers to escort vessels and help reopen the waterway after renewed security concerns in the region.
India’s manufacturing sector is moving toward AI for better efficiency and quality, and early adopters are seeing tangible gains. But a new report argues the biggest barrier isn’t the technology—it’s execution. Companies struggle with integration and data readiness, while startups push practical tools to help factories deploy AI effectively. The outlook: human-AI collaboration, not job losses.
India’s auto sector logged strong year-on-year growth in April, overcoming a sequential dip blamed on high March bases and earlier supply disruptions. Maruti Suzuki gained month-on-month, buoyed by GST benefits and broad demand. Tractor and two-wheelers stayed firm, but auto ancillaries face margin pressure as commodity costs rise, with tougher FY27 conditions looming.
Elon Musk has reached a civil settlement with the US Securities and Exchange Commission over delayed disclosures of his initial Twitter, now X, purchases. Under the terms, a trust in Musk’s name will pay a $1.5 million fine. Musk did not admit wrongdoing, and the agreement ends a long-running dispute with regulators.
Spacetech firm Pixxel is teaming up with AI startup Sarvam to launch an orbital data center satellite, aiming to deliver computing power in space. The move signals how quickly AI and space are converging into new infrastructure plays. The dispatch also notes fintech interest intensifying in India’s Gift City as firms look for growth and regulatory clarity.
Vedanta is among five NSE F&O stocks that saw a sharp rise in futures open interest on May 4, signaling a jump in derivatives activity. Such spikes typically point to traders building fresh positions or adding exposure, often reflecting stronger conviction and a near-term directional bias in price movement for these counters.
IndiGo has issued a travel advisory after the UAE reported detecting four cruise missiles launched from Iran. The airline says the security situation in the Middle East is evolving and there may be changes to flight schedules. Passengers are urged to check their flight status and stay alert for updates shared through registered contact details.
BJP’s Dilip Ghosh has won the Kharagpur Sadar seat in West Bengal’s Assembly elections, delivering a major milestone for the party in the state. The BJP’s seat tally improved beyond prior performances, while Trinamool Congress finished second. The result signals a changing political landscape in West Bengal, with voters reshaping the contest beyond established lines.
Recode Studios’ SME IPO opens today with a reported 25% grey market premium after a Rs 44.6 crore offer priced at Rs 150–158. Founded in 2021, the cosmetics firm sells over 350 products and is pitching an omnichannel play. Funds from the IPO are earmarked for expansion and marketing as competition in the beauty space heats up.
Bagmane Prime Office REIT is set to launch its IPO on May 5, aiming to become India’s sixth listed real estate investment trust. The issue has drawn strong anchor backing, including the Jhunjhunwala Discretionary Trust. Market observers see the participation as a sign of institutional confidence in the REIT’s prospects and the broader REIT pipeline.
Amba Auto Sales and Services is set to list today after a Rs 65.1 crore IPO priced at Rs 135. Grey market signals point to a flat debut, even as subscriptions came in mixed, with institutional investors showing greater interest than retail. The company, an authorised dealer for Bajaj Auto and LG, plans to use proceeds for working capital and expansion.
Mamata Banerjee suffered a major defeat in Bhabanipur, losing by over 15,000 votes, a result that echoes the Nandigram battle. The loss has been linked to voter alienation, corruption allegations, and job-scam accusations. With the Election Commission keeping polling conditions fair, the outcome highlights mounting damage to the Trinamool Congress’s broader electoral momentum.
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