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Ferrari reported a 15% increase in first-quarter core earnings, reaching 693 million euros, driven by pricier models and strong demand for personalized features. Despite potential margin impacts from U.S. tariffs, the company reaffirmed its full-year guidance, projecting core earnings of at least 2.68 billion euros for 2025. Ferrari s first fully electric car is anticipated to be unveiled in October.

Sebi has proposed a separate delisting mechanism for PSUs where the government or promoter group holds 90% or more shares, aiming to ease the process due to challenges posed by current regulations. The proposed changes include delisting at a fixed premium, abolishing the two-thirds public shareholder approval requirement, and offering alternative valuation methods.

Sebi has barred Synoptics Technologies and its promoters from the securities market due to alleged siphoning of IPO proceeds. The regulator also restrained First Overseas Capital Ltd (FOCL), the lead manager, from new assignments, suspecting a scheme to divert funds under the guise of issue-related expenses. Sebi will investigate other IPOs managed by FOCL for similar irregularities.

The RBI is cracking down on corporates with unresolved ODI violations, setting an August 25, 2025 deadline. Companies failing to rectify past lapses face compounding or adjudication before making further foreign financial commitments. This move aims to address non-disclosure of financial details on old ODIs, potentially impacting future overseas deals if compliance isn t addressed promptly.

The Supreme Court s decision in the JSW Steel-Bhushan Power & Steel case brings attention to the delayed insolvency resolutions. Experts warn many companies may face liquidation. The court reaffirmed the 330-day deadline for resolution. Data shows many cases exceed this limit. Experts suggest quicker decisions are needed. Some believe auctioning assets upfront might be more efficient than prolonged CIRP processes.

RBI s proposed gold loan rules may curb the growth of gold finance companies by requiring them to adjust lending practices. Crisil Ratings suggests the draft aims to standardize regulations and address lending disparities. The new LTV computation rules could force NBFCs to recalibrate disbursement values, impacting their growth, despite gold loans being the fastest-growing consumer credit segment in FY25.

The Supreme Court stopped JSW Steel s purchase of Bhushan Power and Steel. This decision highlights Mahender Kumar Khandelwal s role. He was the resolution professional. The court cited delays and JSW Steel s funding. Khandelwal allegedly failed in his duties. He didn t seek extensions or verify JSW Steel s eligibility. Bhushan Power was among firms identified for resolution by RBI.

Fino Payments Bank is gearing up to transform into a small finance bank, anticipating approval from the RBI. This strategic shift aims to enhance engagement with merchants and account holders, addressing challenges posed by the evolving payments landscape dominated by UPI. The transition would enable Fino to offer lending services, potentially focusing on secured loans and expanding its product offerings.

The BSE Sensex fell 0.2%, or 155.7 points, to close at 80,641, while the NSE Nifty-50 slipped 0.3%, or 81.55 points to end at 24,379. Adani Enterprises, Jio Financial, SBI Life, Trent, and Eternal were among the top Nifty losers.

Bids offered for this OMO round were worth ₹1.32 lakh crore, against the notified amount of ₹50,000 crore. The Reserve Bank of India (RBI) has scheduled further bond purchases worth ₹75,000 crore for the month of May with an aim to quicken the pace of policy rate transmissions.