🚀 Chips, Cabs & Chaos: Your Friday Briefing

☕ Good Morning, Masala Crew!

It’s Friday, May 30—and if you're already mentally halfway to the weekend, you’re not alone. But before you hit cruise control, let’s dive into a sizzling brew of tariff drama, surprise Apple news, quick fashion chaos, and a sneak peek into Zerodha’s slow-and-steady lending play.

Let’s stir things up 👇

☕ Chai Shots

• 🚕 Gensol Defaults on BluSmart Loans: Gensol Engineering, tied to BluSmart’s founders, has defaulted on ₹4 crore in payments to bondholders. The company had raised money backed by cabs once active on the BluSmart platform, but since the fleet was grounded, repayments dried up. Grip Invest says repossessed vehicles are now being prepped for resale to recover funds.

• 🔒 Zerodha Doubles Down on Lending: Zerodha plans to infuse up to ₹125 crore into its NBFC arm, Zerodha Capital. With a Rs 400 crore loan book, it wants to serve non-broking users and avoid the unsecured credit chaos.

• 🚀 Nvidia Ignites Global Chip Stocks: Nvidia's killer earnings lit a fire under the entire semiconductor space. Despite U.S. export blocks to China, its results reassured investors that AI demand isn’t going anywhere.

• ⚖️ Trump’s Tariffs Are On Again (For Now): In a legal rollercoaster, a trade court blocked Trump’s sweeping tariffs—but within 24 hours, a federal appeals court hit pause on that ruling. The tariffs are temporarily back, keeping markets—and trade talks—on edge as India eyes US negotiations next week. More in the Big Brew!

📈 Market Masala

• 📊 Markets Bounce Off Lows: The Sensex ended the day up 321 points at 81,633, while the Nifty rose 81 points to 24,834, staying firmly above the 24,800 mark. Midcaps and Bank Nifty also showed strength, with gains of 316and 129 points respectively.

• 🏗️ Powering Up Capital Goods: Capital goods stocks—especially in power transmission and equipment—led the charge as global and domestic CapEx cycles strengthen. With China’s competition waning, Indian firms are gaining pricing power and margin strength.

• 🏘️ Sectoral Pulse: Gains were driven by IT and realty, while pharma and metals stayed firm. FMCG stocks underperformed, and PSU banks faced some selling pressure amid expiry-day volatility.

• 🔋 Ola Electric Takes a Hit: Ola Electric's Q4 loss more than doubled to ₹870 crore, with revenue plunging 62%. For FY25, total losses stood at ₹2,276 crore. The EV maker blamed market share loss and scaling hiccups—but says it's hoping for a demand rebound in FY26.

• 🎒 RBI Plots a Digital Overhaul: The Reserve Bank of India is revamping its online and mobile banking rules, expanding its loan interface (ULI), and going all-in on digital currency pilots. AI ethics and cyber-readiness are also getting the RBI spotlight.

🌎 Global Masala

• 📈 Wall Street Rides the Tariff Whiplash: US markets closed higher as Nvidia’s blockbuster earnings lifted spirits—even as Trump’s tariff saga twisted again. A trade court initially blocked the tariffs, only for a federal appeals court to reverse that ruling within 24 hours, temporarily keeping them alive. The Dow, Nasdaq, and S&P 500 all gained, but uncertainty lingers as investors brace for more policy zigzags.

• 📅 Looking Ahead Globally: Keep your eyes on the US jobs report, updates from China’s factory data, and movement on Trump’s appeal on tariffs. Markets are on edge as court decisions ripple across global trade strategy.

• 🇩🇪 Germany Targets Tech Giants: Germany is drafting a 10% tax on tech behemoths like Google and Meta for what it sees as tax dodging and monopolistic behavior. The US is not thrilled. Trade tensions, anyone?

🧠 The Big Brew ⚖️ Trump’s Tariff Whirlwind: Blocked, Appealed, and Still Bubbling

In true Trump fashion, his latest wave of sweeping tariffs hit a legal wall—only to be quickly put back on temporary life support by a federal appeals court.

• 🚫 First, a Block: The US Court of International Trade declared Trump’s broad tariff plan unlawful, ruling that the former president overstepped by invoking emergency powers to slap duties on countries across the board.

• ⏳ Then, a Pause: Within 24 hours, a federal appeals court pressed pause on the ruling, allowing tariffs to stay (for now) while it reviews legal arguments. The administration must submit briefs by June 9.

• 🧠 The Legal Twist: Trump’s camp cited national emergencies like drug trafficking to justify these tariffs—an argument the court rejected. But with tools like Section 232 still in play, analysts warn it’s not game over.

Global Reactions?

• 🇮🇳 India is reviewing its own trade stance amid these shifts, especially as it prepares to host a US delegation next week.

• 🇪🇺 The EU is eyeing semiconductor and steel cooperation with the US to cushion future trade shocks.

• 🇹🇼 Taiwan isn’t backing off from trade talks with the US despite the legal curveball.

What does this mean? It’s a live wire. For now, some tariffs are blocked, others live on. But uncertainty remains high, and Trump’s team is ready to escalate to the Supreme Court. Markets are reacting with cautious optimism—but the storm may just be getting started.

🚀 Startup Scoop

• 🧢 KhiladiPro Raises $1M to Scout Sports Stars: Sports-tech startup KhiladiPro bagged $1M in pre-seed funding to expand its AI-powered platform that identifies athletic talent across schools. It’s already partnered with state-level bodies and is pushing to bring Olympic-grade training to Indian kids.

• 👗 KNOT Eyes $3M in Quick Fashion Pivot: KNOT, a 60-minute delivery fashion startup born from social app Slick’s pivot, is in late-stage talks to raise $3M. It’s currently live in Mumbai and betting big on “try-before-you-buy” in the fast fashion race.

• 🧼 Cleevo Gets a Clean Boost: Home hygiene startup Cleevo raised $1M in seed funding led by Eternal Capital. The funds will supercharge manufacturing, fuel R&D, and take its sustainable concentrates global.

🤯 Chai Break Trivia

📫 Did you know India is home to the world's largest postal network, with over 150,000 post offices?
And yep, there’s even a floating post office in Dal Lake, Srinagar—letters by shikara, anyone?

🔮 What’s Brewing Next?

• 🇮🇳 US Trade Delegation to Land in Delhi (June 5–6): Post-tariff drama, expect big headlines as US-India trade negotiations continue in person next week.

That’s a wrap for today’s brew! If the markets felt like a rollercoaster and the tariffs like a Bollywood plot twist—don’t worry, we’ll be back tomorrow with your next shot of sanity. Until then, sip some chai, happy weekend! 🫖📈