🗞️ Daily Business Brief – MAY 24 2025
- Aurobindo Pharma USFDA classifies Unit-I of Eugia Pharma Specialities as Official Action Indicated (OAI) following inspection conducted between February 16–27, 2026.
- Geopolitical Update US Secretary of State Marco Rubio says progress has been made over the past 48 hours on a possible outline to resolve the Strait of Hormuz situation.
- Anupam Rasayan India board approves acquisition of up to 74.2% stake in Bliss GVS Pharma. Deal includes acquisition of 43.3% stake at ₹299/share worth ~₹1,369 crore along with an open offer for additional 26% stake.
- India-US Relations Marco Rubio says India-US partnership remains a cornerstone of Indo-Pacific strategy; hinted at major announcements in coming months and highlighted stronger ties between President Trump and PM Modi.
- Lemon Tree Hotels receives CCI approval for acquisition of stake in Fleur Hotels along with group restructuring through amalgamation and demerger.
- Glenmark Pharma arm settles US antitrust litigation for $29.6 million (~₹284 crore). Company clarified settlement is fully provided for with no admission of wrongdoing or material financial impact.
- IGL hikes CNG prices by ₹1/kg effective May 23, marking the third increase this month with cumulative hike of ₹4/kg.
- ICICI Bank RBI approves re-appointment of Sandeep Bakshi as MD & CEO for another two years.
- Defence Export Opportunity Cyprus expresses interest in purchasing Indian drones and loitering munitions including Nagastra-1 and Sky Striker systems used during Operation Sindoor.
- Iran Strait Update Iran plans to restore Hormuz traffic within 30 days, easing concerns over global oil supply disruptions.
- Clean Energy Infrastructure Government expands accuracy checks for CNG, LNG and hydrogen fuel pumps as clean energy adoption accelerates.
- LIC emerges as the highest profit-making financial company in the January–March quarter.
- RBI Data Overseas travel spending by Indians declined to $1.09 billion in March.
- India-US Trade Deal Jaishankar says trade agreement talks have entered final stage; interim agreement likely soon along with renewal of 10-year India-US Defence Partnership Framework.
- Visa & Immigration Talks India raises concerns with the US regarding visa and immigration delays while reaffirming cooperation on illegal migration.
- Defence Manufacturing Rajnath Singh says government aims to increase private sector share in defence production to 50%.
- Saudi Arabia crude oil exports fell to a record low in March according to JODI data.
- Jefferies Commentary Jefferies says India’s SIP boom provided FPIs a large exit window, putting pressure on the rupee.
- Zaggle Prepaid Ocean Services CTO resigns due to personal reasons; last working day on May 27, 2026.
- Gokaldas Exports says company remains confident in leadership strength and business capabilities to navigate near-term external challenges.
- Jaiprakash Power Ventures Adani Power to acquire 24% stake from Jaiprakash Associates for ₹2,994 crore under approved insolvency resolution plan.
- RailTel Corporation secures ₹31.2 crore order from NewSpace India Ltd for IT infrastructure upgrade, operation and maintenance.
- Banking Sector Banks increasingly target young customers through loans against mutual funds.
- Fuel Price Update Government sources defend recent fuel price hikes, stating India witnessed among the lowest global increases despite global crude volatility.
- Cotton Import Duty Government may temporarily remove cotton import duty from July to October amid rising prices and supply concerns from textile mills.
- US Consumer Sentiment University of Michigan survey shows US consumer confidence falling to another record low as inflation expectations rise.
- Quick Commerce Boom India emerging as global hub for ultra-fast commerce with 10-minute deliveries driving billions in investments.
- NSE F&O Update Exide Industries and Nuvama Wealth to be removed from F&O segment effective July 29, 2026; existing contracts to continue till expiry.
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