Current Affairs - Business

Ant Group, through its affiliate Antfin (Netherlands) Holding BV, is selling a 4% stake in Paytm’s parent company, One97 Communications Ltd, via a bulk deal on Indian stock exchanges. The deal is valued at approximately ₹2,066 crore and is being executed at a floor price of ₹809.75 per share, reflecting a 6.5% discount to Paytm's last traded price on the NSE. This transaction marks a strategic portfolio shift by Ant Group and is among the notable secondary market deals in recent times. The sale also signals the gradual retreat of foreign investors from major Indian fintech companies like Paytm.

SBI sold 13.19% of its equity in Yes Bank to Japan’s Sumitomo Mitsui Banking Corporation (SMBC) for ₹8,888.97 crore at a share price of ₹21.50. This transaction was approved by SBI’s Executive Committee and is expected to be completed within 12 months. As a result of this divestment, SBI’s holding in Yes Bank declined from 23.97% to around 10.78%. The deal also significantly increased the return on SBI’s investment in Yes Bank, highlighting a strategic and financially beneficial move for the bank.

Hafele India has entered into a strategic partnership with the Department for Promotion of Industry and Internal Trade (DPIIT) to support India’s manufacturing and innovation efforts. As part of this collaboration, Hafele India has committed over USD 2.5 million to assist Indian startups and MSMEs, providing crucial support in terms of infrastructure and access to markets. DPIIT, in turn, will help facilitate connections between Hafele India and promising startups through the Startup India initiative. This partnership aims to create a thriving ecosystem for innovation and local manufacturing, ultimately contributing to the country’s economic growth.

To boost cargo movement through India’s inland waterways, the Inland Waterways Authority of India (IWAI) signed a Memorandum of Understanding with Rhenus Logistics India Pvt. Ltd., a global logistics company. The agreement, signed on May 6, 2025, in New Delhi, involves deploying a fleet of barges and pusher tugs on major national waterways such as NW-1, NW-2, NW-16, and the Indo-Bangladesh Protocol route. This collaboration is a strategic step toward strengthening multi-modal transport and supports initiatives like the Jal Marg Vikas Project, which aims to optimise India’s river network for efficient cargo transportation and reduce logistics costs.

Tata Consultancy Services (TCS) has partnered with Kuwait’s Jazeera Airways to lead a comprehensive AI-driven digital transformation. This initiative aims to enhance the airline’s digital ecosystem by upgrading its website and mobile applications, as well as implementing an AI-powered chatbot to improve customer engagement. TCS will also deploy a retail ancillary platform and a unified payment gateway to boost operational efficiency and drive bookings. The collaboration is focused on delivering a scalable, personalized travel experience while modernizing the airline’s overall digital infrastructure, showcasing TCS's capabilities in leveraging advanced technologies for business transformation.