Stories from earlier this week and beyond.
Indian markets are seeing choppy trade as geopolitical tensions and rising fuel prices push investors toward defensive sectors. While stocks may stay range-bound in the near term, market watchers still see selective long-term opportunities. However, Aditya Shah warns that gold stocks and capital goods are facing valuation concerns, limiting upside despite the recent correction.
Himanta Biswa Sarma is set to take the oath as Assam Chief Minister for a second consecutive term, following the NDA’s commanding win in the Assembly elections. The swearing-in in Guwahati is expected to draw Prime Minister Narendra Modi, Amit Shah and other top NDA leaders. Meanwhile, West Bengal’s Suvendu Adhikari has arrived and pledged to push Assam’s infiltrator policy in Bengal.
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SBI’s margin drop set the tone for PSU banks, but analysts believe the downside could be nearing an end. Focus is shifting to private banks, seen as better placed for FY27, with foreign investor flows expected to influence stock moves. HDFC Bank and Axis Bank are highlighted as top picks, while Paytm is favored for its payments business.
Arha Media and Broadcasting and Mebigo Labs, among other startups, have appealed against Google’s billing policy for apps on its platform before the Supreme Court. They allege Google abused its dominant market position by charging excessively high fees. The case could reshape how app stores handle billing terms in India.
The Bank of Japan is moving toward a more hawkish stance as surging oil prices tied to the Iran conflict push inflation higher. Some policymakers are pressing for a rate hike as early as June, marking a potential shift away from Japan’s long low-interest-rate era. Markets are recalibrating expectations for tighter policy and meaningful changes ahead.
Pakistan’s Balochistan province saw the death of Mir Shukr Khan Raisani, a senior Lashkar-e-Taiba figure linked to recruitment and radicalisation. Sources report he was found dead in Quetta under unclear circumstances. Adding to the mystery, he is said to have attended a pro-Pakistan Army programme organised by the terror outfit a day before his death, raising fresh questions for investigators.
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Police in Bengaluru recovered gelatin sticks and timer circuit components near Kaggalipura, prompting investigators to examine whether a wider plot was being planned around Prime Minister Narendra Modi’s upcoming visit. A suspect has been detained, and officials are trying to determine if the recovery indicates an actual attack plan or a hoax, amid fears of conspiracy.
Donovan Mitchell tied an NBA postseason record with 39 points in the second half, finishing with 43 as the Cavaliers beat the Pistons 112-103 in Game 4. The win leveled the Eastern Conference semifinals at 2-2 and featured a crushing 25-0 Cavaliers run that flipped momentum fast. Game 5 shifts to Detroit with the series dead even.
One MobiKwik Systems reported a net profit of Rs 4.38 crore in Q4 of FY26, reversing last year’s Rs 56 crore loss. Revenue from operations rose 8%, and the company’s EBITDA turned positive as well. The quarter signals a clear turnaround, with investors watching what drove the recovery after a difficult year.
German conglomerate Thyssenkrupp has cut its 2026 sales forecast, warning that weakening demand in both steel and automotive will likely drag revenue down by as much as 3%. The company points to broader economic slowdowns across Europe and is in the middle of restructuring its operations, signaling tougher times for industrial demand going forward.
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Major Wall Street brokerages are pushing back their timelines for U.S. Federal Reserve rate cuts, citing lingering inflation pressures from high energy prices and a resilient labor market. BofA now sees no cuts in 2026 and expects easing only in mid-2027. Goldman similarly moved its first cut forecast from September to December 2026, reflecting persistent risk to disinflation.
Bollywood composer Pritam Chakraborty says he is planning a significant multi-year break from commercial music, citing deep exhaustion. After a detox retreat he wants to focus on personal well-being and family time, with his children preparing for higher education in the US. The move follows earlier short pauses but comes despite a packed slate of current and upcoming projects.
CBSE is expected to announce the Class 12 board results for 2026 today, with students who appeared in exams from February to April eagerly waiting. Reports suggest scores may be available by the afternoon. Candidates can check results through the official cbseresults.nic.in portal and also access them via DigiLocker and the UMANG app.
The UAE Ministry of Human Resources and Emiratisation has urged employers to provide proper, registered, and well-maintained worker accommodation as summer temperatures rise. The move focuses on decent living conditions, essential services, and stricter safety measures to support worker wellbeing, reduce workplace disruption, and maintain business continuity.
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With India’s forex under pressure, jewellers and goldsmiths say the answer is not sacrifice but restructuring. The All India Jewellers and Goldsmith Federation propose a dedicated bullion bank and improved gold monetisation schemes, aiming to cut annual gold import dependence by 200 to 300 tonnes and reduce the widening trade and current account deficits driven by price surges.
Thousands of users across India reported that Google Search suddenly stopped working on Tuesday morning, seeing “server error” messages and failing to load results. The outage triggered a spike in complaints on Downdetector and quickly spread to social media, as users questioned whether the world’s most-used search engine had crashed. The issue appears temporary but impacted many at once.
AIADMK MLA C V Shanmugam stoked fresh speculation by claiming party general secretary Edappadi K Palaniswami proposed becoming chief minister with DMK support. Shanmugam said the plan was rejected by a majority of legislators and insisted his faction has no intention of splitting the AIADMK, urging instead for a new alliance as political clouds gather in Tamil Nadu.
MobiKwik swung to a consolidated net profit of ₹4.4 crore in Q4 FY26, reversing a ₹56 crore loss in the year-ago quarter. Revenue from operations rose 7.8% to ₹288.7 crore, while expenses excluding finance and depreciation fell 14% YoY. Sequentially, profit increased 10%, though revenue was nearly flat quarter-on-quarter.
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Delhi Capitals captain Axar Patel has been fined Rs 12 lakh after the team was cited for a slow over rate during their IPL 2026 match against Punjab Kings. The offence was the franchise’s first of the season. Despite the over-rate issue, Delhi secured a three-wicket win and currently sits seventh in the points table.
Indian Hotels Company (IHCL) posted Q4 FY26 net profit of Rs 600 crore, up 15% year-on-year, but profit fell 36% sequentially. Revenue grew annually while slipping sequentially. The company pointed to the Iran-US war’s impact on operations, especially in Dubai. With brokerages weighing these mixed signals, IHCL shares came under focus after results.
Indian IT stocks took a sharp hit as Infosys, TCS and peers fell as much as 5%, pulling the Nifty IT index down around 3%. The selloff followed OpenAI’s launch of a Deployment Company, reviving worries that AI disruption could accelerate for IT services. Sentiment stayed weak even as Wall Street logged record highs and the rupee weakened.
Pakistan’s premier pacer Shaheen Afridi has reportedly been caught tampering with the ball again, this time during the first Test against Bangladesh in Dhaka. Following a similar incident in the PSL, footage shows Afridi deliberately altering the ball using the spikes on his shoes. The development has sparked fresh debate over discipline and match conduct.
The UK has announced new sanctions against groups and individuals it accuses of enabling hostile Iranian actions through criminal proxies. The measures are designed to interrupt illicit financial flows tied to destabilizing activities threatening security in the UK and the Middle East, including asset freezes and travel bans for those linked to the alleged threats.
India’s gold imports have surged to an all time high of $71.98 billion in 2025-26, fueled by rising global prices and new trade agreements. The spike is increasing the trade deficit and putting pressure on foreign exchange reserves. With concerns mounting, the government is reviewing trade policies to curb imports and protect economic stability.
Indian markets opened lower and extended losses as the rupee slid to a fresh record low. The move was tied to higher oil prices amid Middle East tensions, following US President Trump’s rejection of an Iran peace proposal. Weakness spread across sectors with IT stocks leading declines, as global uncertainty and foreign institutional selling added to bearish sentiment.
Hannah Harper has been crowned the winner of American Idol Season 24, closing the season with a deeply emotional final performance of “At the Cross (Love Ran Red).” Her standout delivery moved both viewers and judges, earning the top spot. The runner-up spots featured strong bids from Jordan McCullough and Keyla Richardson, each leaving lasting impressions in the finale.
Hygiene products maker Nobel Hygiene, backed by Quadria Capital, is exploring an IPO in India that could raise as much as $300 million. The firm has started preliminary talks with investment banks about a potential listing, with plans that may include both issuing new shares and allowing existing investors to sell part of their stakes in the offering.
Reliance Jio is reportedly considering a major shift in its IPO approach: instead of existing investors selling shares, the company could issue fresh shares. That would route proceeds directly into Jio Platforms, potentially for debt reduction and expansion. Investors are watching closely, as this could rebuild confidence in India’s biggest IPOs and set a new playbook for future mega listings.
Apple has released iOS 26.5 for iPhone users, adding end to end encrypted RCS messaging support in beta alongside smarter Apple Maps recommendations. The update also introduces a new dynamic Pride wallpaper and includes additional behind the scenes improvements. Apple appears to be tightening privacy and personalization ahead of its expected iOS 27 reveal at WWDC 2026 next month.
Congress’ Kerala leadership is set to meet Rahul Gandhi in New Delhi on Tuesday to finalise the state Chief Minister choice. The meeting comes after days of internal deliberations following the United Democratic Front’s sweeping win in the assembly elections. Key contenders include senior leaders such as VD Satheesan, KC Venugopal and Ramesh Chennithala, with a final decision expected today.
ONGC shares surged around 6% after CLSA said the government’s cut to crude oil and natural gas royalty rates is a major tailwind for upstream producers. The brokerage estimates the change could lift ONGC’s fair value by about 7–9% and Oil India’s by 9–11%, while Oil India shares gained roughly 7.5%. CLSA keeps a high-conviction outperform call.
The Central Bureau of Investigation has taken over the murder investigation of Chandranath Rath, Suvendu Adhikari’s personal assistant in West Bengal. Sources say a seven-member Special Investigation Team has been formed to drive the probe forward, signaling a more structured, high-intensity inquiry into the circumstances surrounding the killing and any connected lines of investigation.
Tamilaga Vettri Kazhagam (TVK) MLA JCD Prabhakar was unanimously elected as the Speaker of the Tamil Nadu Assembly. The move follows TVK’s historic win in the 2026 Assembly elections, with party MLAs taking oath earlier this week. During the election, AIADMK and TVK leaders signaled support as Prabhakar took the chair.
Google suffered a major nationwide outage early Tuesday, May 12, 2026, leaving millions of users unable to access core search and disrupting several critical services. Reports describe total search failures and widespread website issues, raising questions about what triggered the infrastructure crisis and how quickly systems are being restored.
Bengaluru techie couple Danish Abdi and Vrushali Prasade made history with a 32-kilometer open-water swim across the Palk Strait from Sri Lanka to India, reaching Dhanushkodi in about 11 hours. They fought rough conditions for 10 hours 45 minutes and credit strict safety planning for navigating the challenging route.
SoftBank expects another strong quarter, with profits boosted by its major investment tied to OpenAI as the AI firm’s valuation climbs. Yet the excitement is shadowed by a widening debt pile used to fund these bets. S&P Global Ratings has turned cautious, warning through a negative credit outlook as leverage rises.
Pakistan’s Prime Minister Shehbaz Sharif has extended nationwide austerity measures until June 13, citing ongoing uncertainty around the Iran conflict and a fragile ceasefire in West Asia. The decision reflects continued regional instability, leaving households and businesses to adjust to tighter controls for longer than previously planned.
AIADMK’s Shanmugam-led camp announced support for Chief Minister Vijay’s Tamilaga Vettri Kazhagam (TVK), marking a notable break within the party after a bitter split. The move comes as analysts watch how TVK’s rise could reshape post-election alliances in a fragmented Tamil Nadu political landscape, potentially strengthening Vijay’s position.
Cricket legend Sachin Tendulkar shared a viral video where he stops to check out a kids’ handmade “desi car.” The clip spotlights rural creativity and ingenuity, with viewers calling it a perfect example of jugaad. Tendulkar’s message—big things can come in small packages—turns the spotlight on talent often found far from major cities.
Global investors made a sharp pivot in April, adding $58.3 billion into emerging markets after a $66.2 billion outflow in March. The turnaround was largely debt-led, fueled by easing geopolitical tensions and steadier market conditions that revived risk appetite, though investors still worry about energy costs and whether the rebound can last.
Thinking Machines Lab has unveiled “interaction models,” a new kind of multimodal AI built to communicate in real time. Unlike systems that wait for separate inputs, these models process audio and visuals together, enabling continuous responses and sharply lower latency. The goal: make human AI collaboration feel more natural, especially for time sensitive enterprise and industrial use cases.
A viral video from Indirapuram in Ghaziabad shows a man publicly listing an alleged dowry at a wedding, featuring over ₹1 crore in cash, diamond and gold jewellery, and even a BMW car. The spectacle has ignited intense online backlash, with many demanding stronger action under India’s anti-dowry laws and tighter enforcement to curb the practice.
Consumer appliance startup Mekr Technologies has raised Rs 67 crore from Avaana Capital and Titan. The fresh funding will expand manufacturing capacity, boost exports, and accelerate indigenization to reduce import dependency. Mekr’s model partners with major brands while handling design, engineering, and assembly, with the money earmarked for R&D, supplier localization, and automation aimed at global markets.
Tata Motors’ commercial vehicle business is set up for a strong March quarter, with analysts calling for healthy volume growth and improving margins. The turnaround is being attributed to a sharp pickup in fleet replacement demand and better freight activity, signaling a broader revival in India’s domestic trucking cycle that could lift profitability beyond expectations.
Five NSE F&O stocks saw sharp gains in futures open interest on May 11, pointing to more trader participation and new positioning. Dalmia Bharat, Tata Consumer Products, Kaynes Technology India, Bharti Airtel and Biocon all recorded notable jumps, suggesting heightened market activity behind the scenes even before price moves fully reflect it.
Alphabet is rapidly closing the gap with Nvidia as investors increasingly see the Google parent as the next global tech giant. Its AI strength spans search, cloud services, and internally built models, creating growth momentum even as the market values diversification. That broader footprint is positioning Alphabet to challenge Nvidia’s current dominance in AI-driven valuation.
Record wildfires are spreading across Africa and Asia, with scientists warning that conditions could worsen as summer peaks and El Nino strengthens. The combination of climate change and El Nino may trigger unprecedented weather extremes. In Africa alone, land burned is already up 23% compared with the previous record, raising alarms over heat, drought, and fire risk.
A breakaway AIADMK faction has announced its support for the TVK government led by Chief Minister C Joseph Vijay. Senior MLAs S P Velumani and C Ve Shanmugam plan to submit a letter to Vijay, accusing party general secretary Edappadi K Palaniswami of seeking to form a government with DMK backing—an aim they say they oppose.
Thinking Machines is previewing “interaction models” meant to move AI beyond turn based chat. Its system processes 200ms chunks in full duplex—listening, talking, and responding to visual cues at once—while a separate background model handles deeper reasoning. The company reports major gains on FD-bench benchmarks, but availability is limited to a research preview first.
Cisco leaders say the barrier to agentic AI production isn’t models or compute, but identity governance. With hospitals and factories letting non-human “agents” access sensitive systems, enterprises often can’t inventory, scope, or revoke those identities fast enough. The result: a trust gap and expanding blast radius, solved through secure delegation, cross-domain telemetry, and network-enforced microsegmentation.
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