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• Indian stock markets closed higher on Friday, May 2, but gave up most of their intraday gains as investors booked profits, leading to a sharp pullback in the latter half. The session, which started flat, picked up early momentum led by financial stocks but failed to hold ground.

• Despite the volatility, benchmark indices posted marginal gains and extended their winning streak to a third week, supported by renewed foreign investor interest in Indian equities.

• Additionally, optimism around a potential India-US trade deal and signs of easing tensions between the US and China contributed to the positive sentiment.

TVS Motor +1.42%

• TVS Motor shares rose 3% intraday after the company reported a 16% YoY sales growth in April 2025 to 4.44 lakh units.

• EV sales surged 59%, exports jumped 45%, and three-wheeler sales rose 50% to 13,566 units.

Manking Pharma (3.37%)

• Mankind Pharma shares fell 4% after Macquarie downgraded the stock to 'Underperform' and cut its earnings estimates for FY25, FY26, and FY27 by 17%, 24%, and 17% respectively, citing dilution concerns from the BSV acquisition.

• RBI data reveals ₹2,000 notes worth ₹6,266 crore are still in circulation, two years after their withdrawal. (ET)

• Gold loans have doubled in FY25, despite the slowdown in bank credit growth. (ET)

• Talks on the India-UK trade pact may take longer as some issues remain unresolved. (ET)

• India's borrowers are becoming younger with each generation. (ET)

• India has halted all imports and ships from Pakistan. (ET)

• M-M Finance plans to raise ₹3,000 crore ($354Mn) through a rights issue. (BS)

• Ranbir Kapoor, Aamir Khan, Jasprit Bumrah, Rohit Sharma, and others invested ₹105.7 crore ($12.5Mn) in Karamtara Engineering’s pre-IPO round. (MC)

• OYO has delayed its IPO for the third time. (YS)

There are no mainboard IPOs this week.

M&A / Investments

• ALTERRA has invested ₹845 crore ($100Mn) in clean energy platform Evren. (ESGT)

• Infosys has completed the ₹532 crore ($63Mn) acquisition of Australia's The Missing Link. (BS)

• Enam Holdings is investing ₹300 crore ($35Mn) in e-bus maker Eka Mobility. (ET)

• Skilling platform FinX has acquired BSE Institute for ₹17 crore ($2Mn). (Inc42)

• Tech Mahindra will acquire 100% of Mahindra Racing UK for ₹13.5 crore ($1.5Mn). (BS)

VC