Govt To Build Super App For EV Users.

May 26, 2025 • Reading Time: 7 minutes

Hello,
Markets registered strong gains on Friday, led by advances in technology and consumer goods stocks. In the absence of significant new triggers to sustain a bullish momentum, investor sentiment appears to be guided by a "sell-on-rise, buy-on-dips" strategy, resulting in a range-bound movement.

Meanwhile, the Enforcement Directorate conducted searches on Jaypee Infratech, Gaursons, and others in connection with a ₹12,000 crore fraud case. The government is planning to develop a unified super app for electric vehicle users. Separately, Pressplay Capital is targeting a ₹85 crore debut fund focused on startups in gaming, adtech, mediatech, and sportstech sectors.

As of 23/05/25

  • The Indian stock market staged a strong recovery on Friday, May 22, recouping all of Thursday's losses, primarily driven by technology and consumer goods stocks. Optimism regarding earnings and easing U.S. Treasury yields fuelled gains across Dalal Street.

  • Despite a lack of fresh triggers for sustained bullish momentum, the market appears to be following a "sell-on-rise and buy-on-dips" trend, swinging between gains and losses. This reflects underlying uncertainty in global developments, including US-India trade negotiations, concerns about the US fiscal position, and currency fluctuations.

  • A weaker US dollar also contributed to the gains, with the dollar index declining over 1% last week, marking its worst weekly loss since April 7. A weaker dollar typically encourages greater foreign capital inflows to emerging markets like India.

  • Despite near-term volatility, the medium to long-term outlook for the Indian stock market remains healthy.

Nifty 50

0.99%

24,853.15

BSE Sensex

0.95%

81,721.08

Nifty Bank

0.83%

55,398.25

Nifty IT

0.95%

37,403.55

Nifty Vix

0.12%

17.28

10 yr Bond

0.4 bps

6.26

USD>INR

(0.92%)

85.20

  • ED searches Jaypee Infratech, Gaursons, and others in ₹12,000 crore ($1.4Bn) fraud case. (ET)

  • Govt To Build Super App For Electric Vehicle Users. (Inc42)

  • Why Trump's Tariffs Won't Derail Apple's India iPhone Plans. (ET)

  • Five foreign universities get India campus approval. (ET)

  • Commercial real estate ramps up Tier II-III city projects, eyeing Gen Z. (ET)

  • Schloss Bangalore mobilizes ₹1,575 crore ($184Mn) via anchor book. (MC)

  • Aegis Vopak Terminals IPO anchor book: anchor investors buy ₹1,260 crore ($147Mn). (MC)

  • KSH International plans ₹745-crore ($87Mn) IPO, files draft papers with SEBI. (MC)

This week’s mainboard IPO schedule

  • Schloss Bangalore

    • Offering Period: 26 May - 28 May, 2025

    • Listing Date: 02 June, 2025

    • Issue Price: 413-435

    • Lot Size: 34

  • Aegis Vopak Terminals

    • Offering Period: 26 May - 28 May, 2025

    • Listing Date: 02 June, 2025

    • Issue Price: 223-225

    • Lot Size: 63

  • Prostarm Info Systems

    • Offering Period: 27 May - 29 May, 2025

    • Listing Date: 03 June, 2025

    • Issue Price: 95-105

    • Lot Size: 142

  • Scoda Tubes

    • Offering Period: 28 May - 30 May, 2025

    • Listing Date: 04 June, 2025

    • Issue Price: 130-140

    • Lot Size: 100

M&A / Investments

  • Blackstone-backed firms invest ₹1,060 crore ($124Mn) in Embassy Developments. (BS)

  • Sun Pharma to invest ₹212 crore ($25Mn) in Pharmazz Inc; raises stake to 22.7%. (BS)

  • Wellington Management gets CCI nod to acquire stake in Porter. (YS)

VC

  • Info Edge shareholders approve ₹1,000 crore ($117Mn) investment in third venture fund. (YS)

  • Pressplay Capital aims for a ₹85 crore ($10Mn) maiden fund, backing gaming, adtech, mediatech, and sportstech startups. (Inc42)

Category

Company

Amount

Wealthtech

Stable Money

₹170 crore ($20Mn)

Fintech (Education focus)

GyanDhan

₹51 crore ($6Mn)

Edtech (Healthcare focused)

Virohan

₹25 crore ($3Mn)

Agri-commerce

KSKT

₹11 crore ($1.3Mn)

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