Stories from earlier this week and beyond.
Ultratech Cement and Infosys were among five NSE F&O stocks that saw a sharp jump in futures open interest on April 24, with gains exceeding 8%. Traders are likely adding fresh positions or expanding existing ones, pointing to higher participation and potential directional moves in these counters. Watch the next session for follow-through or reversal.
Trinamool Congress leader Tanmay Ghosh says Mamata Banerjee’s government will return in West Bengal, predicting a win of 230–250 seats. He also claims no “outsider,” including the PM and HM, will be seen in Bengal after 11 am on May 4, framing it as part of the election build-up.
Your news, in seconds
Get the Beige app — every story in 60 words, updated hourly. Free on iOS & Android.
Amba Auto Sales and Services’ Rs 65 crore SME IPO opened for subscription on Monday, coming with a reported zero grey market premium. The cautious sentiment may reflect investor selectiveness even as the firm posts steady growth, with revenue around Rs 242 crore in FY25. The authorized dealer for Bajaj Auto and LG Electronics plans to use IPO funds for working capital and expansion.
Gartner says AI is powering a sharp rise in global IT spending to $6.31 trillion. For India, the shift toward AI creates openings in managed services, as firms retool budgets and operations. But traditional IT services providers face margin squeeze because customers expect cost savings as AI adoption scales. India can also focus on AI infrastructure support rather than building massive local data centers.
On April 28, Andhra Pradesh Chief Minister N Chandrababu Naidu will unveil Google’s $15 billion AI data centre in Visakhapatnam. The project is planned to have a massive 1 GW capacity, aiming to transform the city into a major technology hub and Asia’s AI focal point, boosting regional infrastructure and positioning it for large-scale AI workloads.
A suspect, identified as Cole Tomas Allen, was arrested after trying to attack administration officials at a black-tie gala tied to a press dinner. Authorities say he had posted an “anti-Christian” manifesto and that relatives flagged his views beforehand. The incident has amplified security concerns, with Trump arguing for his planned White House ballroom as a safer venue.
Never miss a story
Set alerts for the topics and sources you care about. Download Beige for free.
Riteish Deshmukh has condemned what he called unacceptable remarks by Dhirendra Krishna Shastri, popularly known as Bageshwar Baba, about Chhatrapati Shivaji Maharaj. Posting on X, the actor said the “distorted nonsense” being spewed about a cherished deity is infuriating. His message comes amid mounting public backlash and intense reactions over the controversy.
President Trump expressed disappointment with NATO after a shooting at the White House Correspondents’ Dinner. Security responded quickly, keeping guests safe at the event celebrating journalists and the First Amendment. Investigators are examining whether the suspect intended to target Trump administration figures, renewing pressure for stronger security in White House venues like the ballroom.
The man arrested in the White House Correspondents’ Association dinner shooting is described as highly educated, having earned a mechanical engineering bachelor’s degree from Caltech in 2017. Local accounts and his professional profile also portray him as a tutor and amateur video game developer. Investigators say his alleged motives are tied to opposition to President Donald Trump’s policies, even as teachers express shock.
Gold prices have slumped after a US Iran war ceasefire eased geopolitical risk, triggering investor selling. Traders are now focused on the U.S. Federal Reserve’s upcoming interest rate decision following its two-day meeting. With rates expected to heavily influence dollar and bond yields, gold’s next move could hinge on the Fed’s signal.
Reading on mobile?
Open Beige in the app for a smoother experience — free on iOS and Android.
IDFC First Bank’s Q4 FY26 showed modest profit growth of about 5%, with net interest income rising 16% to Rs 5,677 crore. The result was backed by faster loan and deposit growth and improving asset quality. Margins eased slightly, while provisions declined steadily. Even so, management expects deposits to keep building, though the stock has lagged longer-term performance.
India has handed over two personal watercraft to Sri Lanka’s coast guard to strengthen search and rescue operations. The move comes after a joint naval diving exercise in Colombo that deepened maritime cooperation. India also provided medical assistance and ammunition, signaling a broader push to expand security and partnership in the Indian Ocean region.
Howrah and Kolkata are gearing up for the high-stakes second phase of West Bengal assembly polls, following a historic first phase on April 23 that drew nearly 93% turnout across 152 seats. The main political focus is Bhabanipur, where Chief Minister Mamata Banerjee is set to defend her seat against BJP’s Leader of the Opposition Suvendu Adhikari, amid heightened security and campaign fervor.
Payton Pritchard scored a career-high 32 points off the bench as the Boston Celtics steamrolled the Philadelphia 76ers 128-96. Jayson Tatum added 30 as Boston cruised to a commanding 3-1 lead in the series. With one more win required to advance, the Celtics took control of the matchup with a decisive Game 4 performance.
Follow your favourite sources
Track sources, tags and categories — all in the Beige app.
The NIA has taken over a West Bengal case involving the recovery of 79 crude bombs, with the probe now focusing on a possible terror angle. The Ministry of Home Affairs directed the agency after concerns about illegal storage of explosives that could endanger public safety and impact national security.
Srinagar Lok Sabha MP Aga Ruhullah says the National Conference has stopped pushing for Article 370 restoration and statehood, a shift he rejects. He also accuses the BJP’s delimitation bill of gerrymandering in the name of women’s reservation, warning it could disenfranchise minorities. Ruhullah frames it as a betrayal of the mandate and a diversion from constitutional guarantees.
Truecaller’s once-hot growth is maturing, prompting the company to lean harder on subscriptions, business-focused services, and fresh app features. With demand beyond India becoming more important, the strategy signals a shift from pure user growth to revenue diversification, testing whether new monetization can replace the momentum of earlier expansion.
Finance Minister Nirmala Sitharaman said she is preparing reforms aimed at easing business compliance while leaning on strong domestic consumption to help India weather global risks. She also pointed to the growing cybersecurity challenge posed by advanced AI models, signaling government action to protect industry. Sitharaman added that the reform push will continue to support manufacturing and overall growth for India Inc.
Stay informed on the go
Bite-sized news from 100+ trusted sources, right in your pocket.
Former President Barack Obama condemned the White House Correspondents' Dinner shooting, saying violence has no place in a democratic society. The suspect, 31-year-old Cole Tomas Allen, was taken into custody after allegedly breaching a security checkpoint, triggering a rapid evacuation and venue lockdown. Obama also praised the courage of security personnel responding to the incident.
Prosecutors say the man accused in the White House Correspondents’ Association dinner shooting traveled from California via Chicago to Washington, checked into the gala hotel, and acted alone. Acting Attorney General Todd Blanche said he had stockpiled weapons at home and showed troubling behavior. In writings shared with family minutes before the attack, he referred to himself as a “Friendly Federal Assassin.”
Gold prices fell as the dollar strengthened and oil prices climbed, reviving fears of higher inflation and interest rates. Disrupted U.S.-Iran peace talks are also weighing on Middle East energy exports, adding pressure across global markets. Investors are turning to the upcoming Federal Reserve rate decision, while India sees higher gold premiums due to tight local supplies.
US President Trump downplayed a shooting at the White House Correspondents' Dinner, saying he wasn’t worried and crediting security for acting quickly. He urged the event to continue, pushing plans to reschedule within 30 days, and clashed with an interviewer over whether the attacker’s manifesto should be highlighted. Trump blamed the attack on a “sick guy” and surrounding political hate speech.
PetPooja, a restaurant POS SaaS provider, is under investigation after GST and income tax raids across nearly 100 eateries in 45 cities, with officials alleging restaurants deleted or edited bills to hide sales. Authorities have seized 60 TB of data and say Punjab alone saw over ₹5,000 Cr scrubbed from digital records. In parallel, Pine Labs plans to acquire Shopflo for ₹88 Cr, signaling its push into commerce payments.
After an April rally, investors are once again leaning into high-risk frontier markets. Fund managers are increasing exposure to countries such as Vietnam and several oil exporters as they show stronger gains than major benchmarks. The appeal is growing amid worries about global uncertainty, with high energy prices providing a tailwind even as inflation risks remain on investors’ radar.
India is ramping up LPG production and lining up alternative imports after a West Asia conflict disrupts supplies, worsening a nationwide cooking gas shortage. With the Iran-related disruption tightening availability, authorities are pushing supply measures to stabilize cylinders and reduce pressure on household cooking fuel.
The US-Iran standoff entered day 59 amid collapsing diplomacy and widening regional violence. President Trump cancelled a planned mission to Pakistan and demanded Iran “just call” for talks, after rejecting a new peace proposal in Islamabad. Even as a fragile ceasefire holds, the US blockade and Iran’s Strait of Hormuz closure continue to squeeze global energy markets.
Digital platforms and brands are accelerating their AI efforts by building their own AI-led storefronts designed to guide shoppers like live sales support. In today’s ETtech Morning Dispatch, the spotlight also lands on Lalit Keshre, whose big ET Awards win signals growing momentum in the tech ecosystem. Here’s what to watch next.
A suspected shooter, Cole Allen, allegedly sent a manifesto to his family moments before opening fire at the White House Correspondents’ Association dinner. Authorities say the document included “pedophilia” related claims and described his intended targets as administration officials, triggering sharp reactions from Donald Trump despite not naming him explicitly in the manifesto.
UFC CEO Dana White sparked backlash after calling the White House Correspondents' Dinner shooting “f---ing awesome,” even as a Secret Service agent was injured. In recounting the moments, White said attendees were told to get down as chaos unfolded, but he stayed to watch. The shooter, identified as Cole Tomas Allen, was arrested.
Capital-A has secured the first close of Rs 160 crore for its Fund II, with investors largely coming from India. The round was anchored by prominent domestic participants including Srikar Reddy of Sonata Software, Siddharth Bafna of Lodha & Co, and former Amazon technology director Sekhar Boddu, alongside multiple family offices and the Anand Rathi Group. The fund targets manufacturing and deeptech.
An Indian airline has been directed to pay Rs 1.19 lakh to an Indian passenger after its staff lost checked-in baggage containing sacred items and costly clothes. The Jammu and Kashmir consumer commission awarded Rs 89,000 for the lost items, Rs 20,000 for mental agony, and Rs 10,000 as litigation costs, highlighting that mishandled bags can trigger sizable compensation.
Sun Pharmaceutical Industries has agreed to acquire U.S. drugmaker Organon & Co in an all-cash transaction worth about $11.75 billion including debt. Sun will buy every outstanding Organon share for $14.00 each, giving it full ownership of a company known for women’s health, biosimilars, and established therapies.
Iran has put forward a US proposal through Pakistani mediators to reopen the Strait of Hormuz and pursue an end to the war, according to Axios citing a US official and people familiar with the talks. The plan reportedly separates issues, deferring nuclear negotiations to a later stage rather than tying them to immediate steps.
Flipkart and Bigbasket are moving beyond traditional ecommerce by building AI storefronts that enable agentic commerce, where AI can search, place orders, and complete payments autonomously on platforms such as ChatGPT. Fintechs are already filling key payment gaps, making automation more viable. Brands across quick commerce and travel are racing to adopt the new model as it takes shape in India.
Lalit Keshre, cofounder and CEO of Groww, has won Entrepreneur of the Year for scaling India’s largest stockbroking platform in under a decade. After a successful IPO, Groww’s market capitalization surged to around Rs 1.36 lakh crore. Now, the firm plans to expand into wealth management with a full-stack platform by addressing gaps in financial services.
Oil prices surged to a three week high after stalled US Iran peace talks kept Middle East energy exports disrupted. US stock futures eased and the dollar ticked up slightly. Traders expect central banks to keep rates steady amid inflation concerns, while investors look ahead to major tech earnings that could swing sentiment.
Adani Green Energy Limited plans to invest around ₹42,000 crore in FY27, targeting nearly 5 GW of new clean energy capacity. The company reported the highest annual greenfield renewable additions globally outside China in FY26 and now has an operational portfolio of 19.3 GW. It is also stepping up investments in energy storage solutions to strengthen future output and reliability.
Oil surged nearly 2% after stalled U.S.-Iran peace talks and tighter supply flows through the Strait of Hormuz raised global concerns. Brent crude climbed to $107.49 a barrel, its highest since April 7. Goldman Sachs also boosted its fourth-quarter oil price forecasts, citing reduced Middle East output and growing economic risks.
LTM CEO Venu Lambu downplayed fears of AI-driven deflation, saying cost pressures are part of normal market evolution. Instead of focusing on falling pricing, he argues the real test is execution during a generational technology shift. To fuel growth, LTM is restructuring into three service lines and launching a new business AI unit aimed at doubling revenue.
India’s leading software exporters are under pressure as Infosys and HCL Technologies reported results that missed expectations. Investor fears over slowing growth, worsened by a weak global economy and AI-driven disruption, have dragged valuations across the IT sector. The selloff has erased tens of billions in market value, intensifying doubts about the next phase of earnings momentum.
Indian markets extended a corrective phase as major names brought fresh triggers. RIL, IDFC First Bank and Paytm reported results and company updates, while Sun Pharma is preparing a major overseas acquisition. In the power and metals space, NTPC’s nuclear plan, Adani Green’s battery storage push, Coal India’s import cuts, and updates from Hindustan Zinc and HPCL added momentum.
The Indian rupee is expected to weaken further this week, snapping its recent stable range. Strong dollar demand, higher oil import costs, and steady foreign portfolio investor outflows are increasing selling pressure. Even with Reserve Bank of India intervention, markets anticipate the currency will open significantly weaker, keeping downward momentum in focus.
India’s leading IT services companies are bracing for modest revenue growth in FY27 as geopolitics and a tougher macro backdrop weigh on client spending. While AI demand is rising, it is also creating pricing pressure, even as margins remain broadly stable. Analysts are now watching whether new AI services can translate headwinds into growth through cost control and faster capability buildout.
Technical analysts say the Nifty is likely entering a consolidation phase, not a full reversal. They expect the index to trade within a broad band of 23,400 to 24,500, with key support zones tested but anticipated to hold. A decisive breakout is seen as necessary to restore directional momentum, while the broader structure remains constructive for a gradual upward move.
IDFC First Bank expects no immediate rise in deposit rates after recent cuts, signaling stability on funding costs. The lender says microfinance stress is now under control while it concentrates on growth across mortgage, vehicle and consumer loans. It also plans to expand rural banking and its priority sector loan book, alongside technology and mobile app investments for future growth.
Corporate earnings for India Inc in the March 2026 quarter rose in double digits, with banking and finance companies leading the boost. While Reliance Industries reported a profit decline, gains across other sectors more than offset it. Revenue growth climbed to its strongest level in seven quarters, and IT firms also delivered sharp profit increases. More results are expected soon.
Hours after an apparent shooting at the White House Correspondents' Dinner, President Trump addressed the incident, portraying it as a backlash from his “impactful” presidency. He used the moment to push his controversial new White House ballroom, arguing it would improve security, and linked the attack to his administration’s foreign policy wins.
HCL-Foxconn has chosen Taiwanese engineering firm CTCI as its EPC partner for a ₹3,706 crore semiconductor OSAT facility in Uttar Pradesh. The plant will carry out assembly and testing, focusing on manufacturing display driver chips, and it also signals CTCI’s entry into India’s semiconductor ecosystem. CTCI’s established relationship with Foxconn played a key role in winning the contract.
Karnataka is drafting a responsible AI framework to power “i-governance,” shifting from simple digitisation to data-driven, faster public service delivery. Minister Priyank Kharge says the state is testing AI in grievance chatbots, image manipulation checks for crop loss, and even livestock nose-print recognition. The plan also weighs privacy, sensitive sectors, sustainability of data centres, and building a full deeptech and supply-chain ecosystem.
Flipkart has promoted senior executives across key verticals as it prepares for an IPO that could happen next year. Group CEO Kalyan Krishnamurthy said the company is strengthening leadership for “Flipkart 2.0” and scalable execution. The reshuffle includes roles spanning appliances, Cleartrip travel, enterprise systems, and public policy, while Flipkart also eyes movie and live ticketing.
Swipe through stories, personalise your feed, and save articles for later — all on the app.