💰Govt Expands Credit Shield for Startups
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🗞️ Startups Get Wider Credit Runway
The government has expanded the Credit Guarantee Scheme to support startups, aiming to ease access to collateral-free loans amid challenging funding conditions.
Expert Take:
“This move comes at a crucial time. It could energize early-stage funding and reduce startup mortality in Tier 2 and 3 cities,” notes Radhika Aggarwal, co-founder, ShopClues.
🗞️ India Eyes Record Harvest
The government has set an ambitious foodgrains production target of 354.64 million tonnes for 2025-26 — the highest ever. The push comes amid rising demand, erratic weather, and the need to strengthen food security.
Expert Take:
“A record target signals strong agri-policy intent, but the success will depend heavily on monsoon behaviour and fertiliser distribution,” says Devinder Sharma, agri-policy analyst.
🗞️ Yes Bank Surges on Stake Buzz
Yes Bank stock jumped 8% to a 3-month high after news broke that SBI’s board is holding meetings to decide on a potential stake sale. Investors are eyeing a strategic shake-up after years of restructuring efforts.
🗞️ Sunil Mittal Eyes $2B Stake in Haier India
Billionaire Sunil Mittal is reportedly in talks to acquire a $2 billion stake in Haier India. The deal could give Bharti Group a strategic foothold in the appliance space and diversify its portfolio beyond telecom.
🗞️ Drone Stocks Soar Amid Tensions
Indian defence-tech stocks like Zen Technologies and ideaForge hit upper circuit as geopolitical tensions with Pakistan escalate. Investors are betting on rising demand for indigenous drone solutions.
🗞️ Swiggy Instamart Grows 101% in Q4
Swiggy’s quick commerce arm, Instamart, clocked a massive 101% YoY growth in Q4, even as group-level losses doubled. The growth underscores demand resilience in the convenience segment.
🗞️ Rural FMCG Outpaces Urban
Rural India has overtaken urban areas in FMCG consumption growth, led by packaged food, personal care, and lower inflation in essential goods. It’s a strong signal of rural demand revival.
🗞️ Forex Reserves Dip by $2B
India’s forex reserves fell to $686 billion, down $2 billion as of May 2. The drop was mainly due to currency valuation changes and dollar sales to stabilize the rupee.
📊 Market Updates:
📉 Nifty 50: 24,008.00 ▼ -1.10%
📉 Sensex: 79,402.49 ▼ -1.10%
🏦 Bank Nifty: 53,595.25 ▼ -1.42%
💵 USD/INR: ₹86.08 ▲
🛢️ Brent Crude: $63.68/barrel ▼
🪙 Gold (24K): ₹9,835/gram ▲