Daily Market News Update — for (24th-25th May 2026)

Midnight News Update: 24-25 May 2026

The Indian government is planning to intensify its efforts at import substitution so as to keep the current account deficit (CAD) in check. Based on a detailed analysis of its trade patterns, the centre is drawing up a detailed plan of action to boost manufacturing capacity in select segments. Several industry representatives from capital goods, chemicals, and electronics were part of the discussion. The government is also identifying 100 products where local manufacturing is low, but potential is high. India will push for manufacture of intermediate goods; a big import component.

Global investing giants like Goldman Sachs, Citigroup, and Societe Generale have jointly picked up a 1.34% stake in Paytm. The stocks were picked up in a block sale by SAIF Partners and Elevation Capital. The total transaction was worth ₹963 crore. In addition, other global buyers like BNP Paribas, Ghisallo Capital, and Copthall Mauritius also bought in. Overall, a total of 85.98 lakh shares of Paytm were purchased by these investors at a price of ₹1,120 per share. Even after this sale, SAIF Partners holds at 12.18% stake in Paytm. Q4FY26 profits had shown a turnaround.

NTPC saw consolidated net profits for Q4FY26 nearly doubling to ₹10,615 crore. This surge in net profits came on the back of expansion of capacity, lower financing costs, and a surge in demand for thermal energy amidst an intense summer. Consolidated net profits for FY26 overall was up 15% yoy at ₹27,546 crore. Subsidiaries and joint ventures of NTPC also contributed handsomely to the overall profits of NTPC. It also managed to achieve plant load factor (PLF) of over 72% for FY26, the best in the thermal business; and much better than the all-India average of 63.2%.

InCred Holdings is planning a ₹1,250 crore fresh issue of shares to the public to give a boost to its retail lending book. By boosting the capital base of its lending subsidiary, InCred will be able to rapidly expand its retail assets book. In addition, there will also be an offer for sale (OFS) of 9.90 crore shares by early investors. The lending book of InCred comprises of personal loans as well as education loans for study abroad. It also lends to small businesses and ecommerce vendors. KKR is one of the early backers of the company and holds around 12.98% stake in InCred.

Indian car manufacturers are shifting their inventory strategy from JIT (just in time) to JIC (just in case). Critical inputs are being stocked for a period of 3-6 months, instead of the traditional practice of stocking for just 30-40 days. This is largely on account of the supply chain disruptions caused by the recent blockade of the Straits of Hormuz. For the automakers, this geopolitical risk has led to a change in operating priorities, underlining the need to be better stacked in a worst-case scenario. It presumes that supply chain disruptions may be more endemic, than just a one-off event.

Indian cement companies are expecting 7-8% growth in FY27, despite the concerns in West Asia. A surge in infrastructure projects and a revival in housing demand are likely to keep the demand for cement buoyant. Most cement companies have been increasing their capex to support growth in demand. However, higher fuel, power, and packaging costs will be headwinds for cement in the short run. For an average cement company; power, fuel, and selling costs add up to 55% of the total cost structure. Most cement CEOs are expecting FY27 volume growth at around 8%.

Anupam Rasayan will acquire a 43.3% stake in Bliss GVS Pharma for a consideration of ₹1,369 crore. This will broaden the presence of Anupam Rasayan across the pharma value chain. Under SEBI regulations, Anupam Rasayan will also have to launch an open offer of up to 26% to minority shareholders of Bliss GVS Pharma, taking their stake closer to 70%. The current deal happened at a price of ₹299 per share. The acquisition will be funded through a mix of debt and equity. Bliss exports a range of formulations including suppositories, tablets, capsules and injectables.

LIC emerged as the most profitable Indian financial services company in Q4FY26 with a 23% jump in net profits at ₹23,420 crore. It was also the most profitable CPSE in Q4FY26. Both SBI and HDFC Bank reported net profits of under ₹20,000 crore for the fourth quarter. However, full year net profits of SBI at ₹80,032 crore was substantially higher than LIC’s full year profits at ₹57,419 crore for FY26. The other PSU companies to report net profits of over ₹8,500 crore in Q4FY26 include Indian Oil Corporation, Coal India, Power Finance Corporation, and NTPC Ltd.