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Stocks in News

* INDUSIND BANK: The bank clarified that an audit report received on April 26 flagged points needing review from an insider trading angle. It is currently examining the findings and will take necessary action as per insider trading laws.

* STATE BANK OF INDIA: Yes Bank's board approved selling a 13.19% stake to Sumitomo Mitsui Banking Corp. at Rs.21.5 per share, valuing the deal at Rs.8,888 crore.

* FEDERAL BANK: The lender has agreed to sell 16.6 crore Yes Bank shares to Sumitomo Mitsui Banking Corp. at Rs.21.5 per share.

* YES BANK: Sumitomo Mitsui Banking Corp. will acquire a 13.19% stake in Yes Bank from SBI and an additional 6.81% from other investors, subject to approvals from the CCI and RBI. SBI will remain the largest shareholder with over 10% stake post-transaction.

* BANDHAN BANK: The bank is selling 15.39 crore Yes Bank shares at Rs.21.5 each, reducing its stake from 0.7% to 0.21%.

* PURVANKARA: The company, through a JV agreement, will develop 24.59 acres in North Bengaluru, with an estimated gross development value of Rs.3,300 crore.

* SOLARA ACTIVE PHARMA SCIENCES: USFDA completed its inspection of the Ambernath facility with zero Form 483 observations, indicating full compliance.

* BEML: The Madhya Pradesh government has approved allotment of 60.063 hectares (about 148 acres) of land to the company.

Economic News

* Uttar Pradesh eyes Rs 63,000 crore FY26 excise revenue: Uttar Pradesh aims to boost its excise earnings to Rs.63,000 crore in fiscal 2025-26, driven by a new e-lottery policy for allocating retail liquor shops. The state anticipates an investment of approximately Rs.7,900 crore to establish more manufacturing facilities, fostering premiumization within the liquor business. Efforts are underway to neutralize monopolies and attract investments in the alco-beverage industries.

* India poised to double ready-made garments market share to 12% in UK in near term: India and UK concluded a Free Trade Agreement. This will boost India's garment exports. India's market share in the UK is set to double. This could mean an extra USD 1.1-1.2 billion in exports. The FTA gives India an edge over competitors like China. Favorable policies in India will further help the garment sector.

Global News

* Trump eases auto tariffs, offering temporary relief amid industry uncertainty: President Trump signed two executive actions to ease the impact of auto tariffs after pressure from automakers, suppliers, and dealers. One order exempted imported cars from steel and aluminum tariffs to avoid overlapping duties. Another modified the 25% tariff on imported auto parts, offering temporary offsets for U.S.-made vehicles—starting at 3.75%, dropping to 2.5% in a year, and ending the year after—to encourage domestic manufacturing. While the changes reduce some cost burdens, automakers still face uncertainty, with the industry dealing with paused production, layoffs, and financial instability. GM even withdrew its earnings guidance due to tariff concerns. Though initial fears led to a Q1 sales surge, rising costs may soon dampen demand as inventory shrinks and consumer confidence wanes.

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