📦 Block Deals, Big Buys & Billion-Dollar Moves Before the Weekend

☀️ Good morning & happy Friday!

We’ve made it to the last workday before the weekend — and it’s a busy one. Gold’s breaking records, billion-dollar block deals are flying, Tata and the SP Group are finally talking again, and there’s more startup funding than mangoes in peak summer.

Sip your chai and let’s get into the stories shaping markets, boardrooms, and brunch-table gossip.

🫖 Chai Shots

• 🛃 Govt plans sweeteners for exporters as US tariff heat rises: With Washington doubling import duties on Indian goods to a hefty 50%—a move tied to Delhi’s continued Russian oil imports—the government is exploring measures to cushion the blow. Proposals include beefed-up interest subsidies, fresh export incentives, and a faster rollout of the ₹2,250 crore Export Promotion Mission announced in the Union Budget.

• 🤝 Tata & SP Group reopen talks after 9 years: For the first time since their 2016 fallout, Tata Sons and minority shareholder SP Group are exploring a potential exit for SP’s 18.37% stake—worth over ₹3 lakh crore and fully pledged to lenders. The early talks follow a Tata Trusts resolution to keep Tata Sons unlisted while buying out the SP Group. More in the Big Brew 👇

• 🗺️ MapmyIndia buys into Zepto at $5.8B valuation: Digital navigation firm MapmyIndia has picked up a ₹25 crore strategic stake in Zepto, acquiring shares from a foreign investor at a pre-money valuation of $5.8 billion. The deal also cements a partnership for Zepto to use MapmyIndia’s navigation services.

• 🤖 OpenAI rolls out GPT-5 for all, with coding superpowers: OpenAI has unveiled GPT-5, calling it a “major upgrade” that feels like chatting with an expert on any topic. The new model is faster, more accurate, and less prone to fabrications, with standout skills in coding, creative writing, and complex reasoning.

• 💊 Zepto jumps into 10-minute medicine delivery: Quick commerce unicorn Zepto has launched ‘Zepto Pharmacy’ in parts of Mumbai, Bengaluru, Delhi-NCR, and Hyderabad, promising prescription meds at your doorstep in just 10 minutes. The move pits Zepto against online pharmacy giants like Tata 1mg, PharmEasy, and Apollo 24/7, as well as quick commerce rivals dabbling in meds.

📈 Market Masala

• 📊 Sensex, Nifty recover to end flat after early drop: Indian equities staged a comeback from steep morning losses linked to US tariff news. The Sensex added 79 points to close at 80,623, while the Nifty rose 22 points to 24,596. Midcaps gained 0.3%, but smallcaps slipped 0.2%. Maruti, Axis Bank, and Tech Mahindra led gainers, while M&M, HUL, and Tata Motors lagged. Officials confirmed India is exploring new markets to diversify exports and reduce tariff risk.

• 📦 Reliance Retail writes off ₹1,645 Cr Dunzo bet: Reliance Retail has wiped out the full value of its stake in shuttered hyperlocal delivery startup Dunzo, marking the end of a three-year investment that began with a $240M funding round it led in 2022.

• 📶 Airtel promoters to sell ₹9,310 Cr stake via block deal: Bharti Airtel’s promoter group will offload up to 50M shares—about 0.8% of its equity—through a ₹9,310 crore block deal at ₹1,862 per share, a 3.15% discount to the last close. The sale, managed by Jefferies India and JPMorgan India, will slightly trim the promoters’ 55.2% stake..

• ☁️ Krutrim teams up with Cloudera for AI and data scale-up: Bhavish Aggarwal’s AI unicorn Krutrim has partnered with Cloudera to power large-scale analytics and data lake operations on its Krutrim Cloud. The collaboration aims to enhance enterprise AI workloads, improve user experience, and accelerate advanced data engineering.

• 📜 Eternal hit with ₹1.34 Cr tax demand for FY22: The parent of Zomato and Blinkit has received a tax and penalty order from the Uttar Pradesh State Tax department, citing short payment of output tax and excess input tax credit. The notice, issued under Section 74 of the CGST and UPGST Acts, includes ₹67.25 lakh in tax demand, an equal penalty, plus interest.

• 📱 US tariffs could wipe out $30B from India’s electronics exports: Industry experts warn that Washington’s 50% levies—potentially extending to semiconductors—could cost India’s electronics sector $20–30B in future business. While Apple and Samsung may escape some duties thanks to US investments, non-smartphone exports like inverters, chargers, and transformer parts face steep hits.

• 🥇 Gold hits record ₹1.02L/10gm on rupee drop, tariff woes: Gold prices hit an all-time high of ₹1,02,155 per 10gm on MCX—and as high as ₹1,02,700 in spot markets—driven by a weakening rupee, global tariff tensions, and softer US economic data. Even though global prices remain below their $3,509/oz record, analysts say the precious metal could break its $3,450–$3,800 resistance zone internationally.

🌏 Global Masala

• 📉 Dow slips 224 points after volatile session: US stocks swung between strong gains and sharp losses on Thursday before the Dow Jones closed 0.5% lower at 43,968. Caterpillar fell 2.5% on tariff worries, Eli Lilly plunged 14% after disappointing weight-loss pill trial data, and Apple gained 3% after pledging an extra $100B spend on US suppliers.

• 🌏 Asia-Pacific markets eye mixed start after Wall Street dip: Futures pointed to a weaker open for Hong Kong’s Hang Seng and Australia’s ASX 200, but modest gains for Japan’s Nikkei. Meanwhile, US retail investor bearish sentiment surged by the most since February, a contrarian signal that some strategists see as bullish for stocks in the near term.

☕ The Big Brew: Tata & SP Group reopen talks for stake exit after 9 years

After nearly a decade of frosty silence, Tata Sons and its 18.37% minority shareholder, the Shapoorji Pallonji (SP) Group, are talking again. The stake, worth over ₹3 lakh crore based on listed holdings, is fully pledged to lenders as the SP Group battles debt and liquidity pressures.

Tata Sons chairman N. Chandrasekaran recently met SP Group chairman Shapoor Mistry, the first formal engagement since Cyrus Mistry’s ouster in 2016 soured ties. Talks are still exploratory but follow a Tata Trusts resolution to keep Tata Sons unlisted and explore ways to buy out the SP Group.

Why this matters:

• 🏛️ Control: A buyout would consolidate ownership with Tata Trusts and simplify decision-making.

• 💰 Debt relief: It would give the SP Group a way to monetise a massive but illiquid asset.

• 📜 Governance: Resolving the long-running standoff could ease corporate tensions and improve governance stability.

What does this mean?
This is more than a financial transaction — it’s a potential ending to one of India Inc.’s longest-running boardroom battles, with implications for corporate control, market confidence, and the legacy of two storied business families.

🚀 Startup Scoop

• 💄 Renee Cosmetics raises $30M at $200M valuation: The beauty brand’s Series C round, a mix of primary and secondary capital, will fund expansion, marketing, and new product lines.

• 👗 Outzidr raises ₹27 Cr to scale Gen Z women’s fashion: The D2C fast-fashion brand, launched in Feb 2025, will use its pre-Series A funding to expand team strength, launch offline stores, and keep up its pace of releasing up to 2,000 new styles monthly across D2C and marketplaces.

• 🥭 MangoPoint bags $1M to scale premium mango exports: Chennai-based MangoPoint will use the pre-Series A funds to expand infrastructure, grow output from 2,000 to 20,000 MT annually, and strengthen its supply chain for high-end export markets.

🤓 Chai Break Trivia

Did you know 🛟: The shortest commercial flight in the world is just 1 minute long. It runs between the Scottish islands of Westray and Papa Westray, covering a whopping 2.7 km — barely enough time to fasten your seatbelt before landing.

🔮 What’s Brewing Next

• 📅 Airtel’s $1B+ promoter block deal is expected to hits the market today

That’s your Friday cup of Masala Chai — extra strong, served with a side of billion-dollar deals and mango-sweet startup news. Go forth and drop chai break trivia facts at your next brunch; we promise it’s a conversation starter. ✈️ ☀️