Dream11 Buys 15% In Cricbuzz for ₹428 Crore

• India and US to Begin In-Person Trade Talks in Washington on April 23.

  • India and the United States are set to commence in-person negotiations for a bilateral trade agreement on April 23 in Washington.

  • The discussions aim to finalize the first phase of the deal by September-October, with a target to more than double bilateral trade to $500 billion by 2030 .

  • Key issues on the table include tariff reductions, digital taxation, and market access for agricultural and industrial goods.

  • Everything you need to know.​

• On Thursday, April 17, the Sensex and Nifty 50 extended their winning streak for the fourth straight session, driven by broad-based buying and reduced concerns about the ongoing trade war’s impact on the Indian economy.

• Strong buying was seen across key sectors like Banking, Autos, and Pharma, which largely contributed to the rally. The uptrend was fuelled by optimism over a potential trade deal between the US and India, as well as expectations of an above-average monsoon.

• Investor confidence was further lifted by inflation falling to a five-year low and crude oil prices remaining soft at around $61.

• Positive sentiment also got a boost from a reversal in FII flows, although the durability of this trend remains in question.

• Still, optimism in the domestic market continues, supported by hopes of a favourable outcome from US-India trade talks and limited fallout from US-China trade tensions. Additionally, the easing inflation trend is adding to the positive market outlook.

Oil India +1.52%

• Oil India shares gained nearly 2% today after nine new exploration blocks, spanning over 51,000 square kilometres, were awarded under the OALP Round IX auctions.

• Of these, six blocks will be solely operated by Oil India, while the remaining three will be developed through strategic partnerships.

Sonata Software (5.92%)

• Sonata Software shares fell over 6% after the company indicated that its international revenue might miss Q4 forecasts.

• The stock ended in the red following reports that revenue from its largest client is expected to be lower than projected, impacted by the ongoing trade war triggered by recent US trade tariffs.

• India's forex reserves rise by $1.5 billion to $677.84 billion as of April 11. (ET)

• MTNL defaults on ₹8,346 crore loans from seven public sector banks. (Mint)

• RBI's proposed blended interest rates in co-lending will benefit borrowers. (ET)

• RBI Guv warns of dwindling liquidity in the money market. (ET)

• Amaravati will be the world's first fully renewable-powered city. (ET)

There are no mainboard IPOs this week.

M&A / Investments

• Warburg Pincus and ADIA invest ₹7,500 crore ($875Mn) in IDFC First Bank. (BS)

• Delhivery, Ecom Express seek CCI nod for ₹1,400 crore ($163Mn) deal. (YS)

• Eversource Capital in talks to acquire BluSmart for ₹850 crore ($99Mn). (FE)

• NFL to invest ₹572 crore ($66Mn) for 18% Stake in Assam Urea Plant JV. (BS)

• ITC to acquire 24 Mantra Organic for ₹472.5 crore ($55Mn). (BS)

• Dream 11 to acquire 15% stake in Cricbuzz for ₹428 crore ($50Mn). (EN)

• Motilal Oswal Mutual Fund buys shares of Coforge worth ₹231 crore ($27Mn). (BS)

• ITC to invest ₹81 crore ($9.4Mn) more in baby care brand mother Sparsh. (FE)

VC