Author: Market News Desk

On May 8, 2025, global travel technology platform OYO, headquartered in Gurugram, Haryana, India, reported a net profit of ₹623 crore for FY25, becoming the most profitable Indian startup. The company’s profit rose 172% from the previous year and marked ten straight quarters of EBITDA profitability, supported by its premium hotel portfolio and global expansion. OYO, a global travel technology company headquartered in Gurugram, Haryana, has emerged as the most profitable Indian startup for the financial year 2024–25 (FY25), reporting a profit after tax (PAT) of ₹623 crore. This announcement was made by Founder Ritesh Agarwal during a company-wide townhall,…

Reliance Industries Limited, a major conglomerate based in Maharashtra, India, has officially withdrawn its trademark application for “Operation Sindoor” following public and political backlash. The company clarified on May 8, 2025, that the application was mistakenly filed by an unauthorised junior employee and emphasized its respect for India’s armed forces and Operation Sindoor’s symbolic value in the nation’s anti-terrorism stance. Reliance Industries Limited (RIL), a diversified Indian conglomerate headquartered in Maharashtra, announced on May 8, 2025, that it has officially withdrawn its trademark application for the phrase “Operation Sindoor.” The company, in a formal statement, clarified that the trademark request…

SBI Cards and Payment Services Limited, based in Haryana, India, conducted a one-on-one investor call with Karma Capital to discuss company performance and market insights. The company disclosed this under SEBI regulations and stated that only publicly available information was shared. SBI Cards and Payment Services Limited, one of India’s leading non-banking financial institutions specializing in credit card issuance and services, conducted a scheduled one-on-one investor interaction with Karma Capital on May 8, 2025. The session, held in Gurugram, Haryana, lasted from 12:05 PM to 12:55 PM. The company disclosed this engagement under Regulation 30 of the SEBI (Listing Obligations…

The National Stock Exchange (NSE), India’s largest stock exchange, has formally requested the finance ministry’s intervention to resolve its long-standing IPO standoff with the Securities and Exchange Board of India (SEBI). The standoff has been ongoing since 2016, primarily due to governance concerns and pending legal matters, stalling NSE’s IPO plans. NSE seeks a ‘no objection certificate’ from SEBI, which it claims is crucial for progressing with its IPO process. The National Stock Exchange (NSE), India’s largest stock exchange, is requesting the intervention of the Ministry of Finance to break a longstanding deadlock with the Securities and Exchange Board of…

Cashfree Payments, a Bengaluru-based Indian fintech firm, has become the first in India to support over 140 global currencies on its upgraded international payment gateway. This strategic enhancement enables Indian merchants to offer a localized checkout experience, potentially expanding their global revenue by up to 30%. Cashfree Payments, a leading fintech company headquartered in Bengaluru, Karnataka, has taken a major step in boosting India’s global e-commerce capabilities by enabling support for over 140 currencies on its international payment gateway. With this move, it becomes the first Indian fintech to offer such a wide currency range, aimed at simplifying cross-border transactions…

India and the United Kingdom have concluded a Free Trade Agreement (FTA) after prolonged negotiations, signifying renewed momentum in global trade despite growing protectionist sentiments. The agreement reflects a blend of political compromise and economic ambition, with both nations aiming to benefit from expanded trade, GDP growth, and lower consumer prices. India and the United Kingdom have officially signed a comprehensive Free Trade Agreement (FTA) following nearly three years of intensive negotiations. This deal, finalised through high-level political cooperation, highlights the ongoing strength of globalisation even amid rising protectionism and geopolitical uncertainties. The agreement was concluded under the leadership of…

India’s state-owned Canara Bank, headquartered in Bengaluru, Karnataka, has posted a 33.15% year-on-year increase in its net profit to ₹5,002.66 crore for the quarter ended March 31, 2025. The bank declared a 200% dividend (₹4 per share) for FY25 and reported improvements in asset quality and operating performance despite a slight dip in net interest income. India’s state-owned lender Canara Bank, headquartered in Bengaluru, Karnataka, reported a 33.15% year-on-year (YoY) increase in its standalone net profit for the quarter ending March 31, 2025. The bank posted a profit of ₹5,002.66 crore, compared to ₹3,757.23 crore in the same period last…

Maharatna PSU Oil and Natural Gas Corporation (ONGC) has announced the date for its Q4 results for fiscal year 2024-2025 and the final dividend declaration. The company will hold a Board meeting on May 21, 2025, to approve the financials and dividend. Oil and Natural Gas Corporation (ONGC), a Maharatna PSU based in New Delhi, India, is one of the largest oil and gas exploration and production companies in the country. ONGC has announced the date for its Q4 results for the fiscal year 2024-2025 and the final dividend approval. The Board of Directors will meet on May 21, 2025,…

Fidji Simo, the CEO of Instacart and former Facebook executive, has been appointed as CEO of Applications at OpenAI, based in California, United States. She will lead product and business operations while OpenAI CEO Sam Altman focuses on research, compute, and safety. Simo brings extensive leadership experience from roles at Meta, eBay, and Instacart. OpenAI, the artificial intelligence company headquartered in California, United States, has appointed Fidji Simo as CEO of Applications. This new executive role places her in charge of product, business, and operational strategy at the company, while Sam Altman will continue as OpenAI’s overall CEO. OpenAI is…

Elon Musk’s satellite internet company, Starlink, received a Letter of Intent from India’s Department of Telecommunications on May 7, 2025. This regulatory nod marks a major milestone for Starlink’s entry into India, where it plans to offer satellite-based high-speed internet services, especially in remote and underserved areas. With global expansion already underway, Starlink’s debut could transform India’s digital infrastructure and connect millions to reliable internet. Starlink, the satellite internet venture under Elon Musk’s aerospace company SpaceX, has taken a significant step toward launching its services in India. On May 7, 2025, India’s Department of Telecommunications (DoT) issued a Letter of…