⚕️Glenmark’s Cancer Drug Win
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🗞️ ADB Commits $26B for Food Security in APAC
The Asian Development Bank has pledged an additional $26 billion toward food and nutrition security across Asia-Pacific. This expanded support aims to combat hunger, enhance diets, protect the environment, and create opportunities for farmers and agribusinesses.
🗞️ CDMO Boom: Suven, Divi's Benefit from China Shift
As global pharma supply chains diversify away from China, Indian CDMOs like Suven and Divi’s Laboratories are seeing new business traction. Rising trade tensions and cost pressures are pushing US and EU buyers to Indian partners.
🔍 Expert Take:
“India's CDMO ecosystem is becoming a reliable alternative to China for global pharma,” said an analyst at Jefferies.
🗞️ USFDA Fast-Tracks Glenmark’s Novel Cancer Drug
Glenmark Pharmaceuticals has received Fast Track designation from the USFDA for its novel oncology drug targeting advanced solid tumors. The drug, currently in phase 1 trials, is being closely watched for potential blockbuster status in immunotherapy.
🗞️ RBI Taps Brakes on Gold Repatriation
The Reserve Bank of India has slowed efforts to repatriate its monetary gold holdings from overseas vaults, despite earlier moves to bring more reserves back home. Officials cite storage infrastructure upgrades and cost-benefit reviews.
🗞️ Swiggy Suspends Genie Service Across Cities
Foodtech major Swiggy has paused its on-demand pick-up and drop service Genie across metro cities including Delhi, Mumbai, and Hyderabad. The company cited operational streamlining but plans to revisit the service model after internal review.
🗞️ Cash Still Relevant in a Digital India: Report
Despite growing UPI adoption, cash usage remains strong across India, especially for daily transactions in rural and semi-urban areas. A new report highlights how physical currency coexists with digital payments for household needs.
🗞️ IBL Finance Jumps on AUM Update
IBL Finance, a smallcap NBFC with a share price below ₹100, was in focus after it disclosed a sharp rise in Assets Under Management (AUM). Investors took note as the company eyes further tech-led expansion.
🗞️ Indian Bank Plans ₹6,500 Cr Recovery in FY26
State-owned Indian Bank aims to recover ₹6,500 crore in bad loans during FY26, according to MD & CEO Binod Kumar. The lender will ramp up resolution efforts and asset sales while maintaining credit growth.
🔍 Expert Take:
“Indian Bank’s recovery target signals improving loan discipline and asset quality in public sector banks,” said a CRISIL banking analyst.
📈 Market Updates (May 5, 2025)
📊 Sensex: 80,312.21 🔼 +0.12%
📊 Nifty 50: 24,450.55 🔼 +0.14%
💵 USD/INR: ₹85.10 🔽
🪙 Gold (24K): ₹9,885/gm 🔼
🪙 Silver: ₹1,01,450/kg 🔼
🛢️ Brent Crude: $87.55/barrel 🔼