Namaste! Aaj ka news roundup, Newswala style!

MARKETS

Markets: On April 21, 2025, the Indian stock market saw a strong rally with the BSE Sensex rising by 855 points (1.09%) to close at 79,408.50 and the Nifty50 gaining 274 points (1.15%) to finish at 24,125.55, marking the fifth consecutive day of gains driven by heavy buying in banking, IT, and auto sectors.

TOP STORIES

Samsung and LG Upset Over Trash Rules

What Happened

Two Korean tech giants—Samsung and LG—have dragged the Indian government to court over a new rule related to e-waste recycling.

The updated policy sets a fixed minimum payout of ₹22 per kilogram for electronics recycling. That may not sound like much, but for companies selling millions of gadgets, it adds up fast.

India, by the way, is the world’s third-largest e-waste generator, just behind China and the U.S.

Why It Matters

Both Samsung and LG argue that the rule will nearly triple their current recycling costs. Other big names like Voltas, Havells, and Blue Star have also filed similar cases, calling the new rates “too hot to handle.” 

India is trying to bring more order to its chaotic e-waste sector. Right now, over 80% of recycling is handled by informal scrap dealers. The government wants to make recycling more structured—and more appealing to formal companies.

But here’s the twist

Tech firms say the solution is expensive and misses the mark. They claim the real issue is poor enforcement, not low payouts.

And with recycling costs potentially shooting up 5 to 15 times (according to Samsung), many manufacturers feel like they’re being punished for someone else’s mess.

In short, the government wants clean recycling, but companies feel they’re getting cleaned out.

TOP STORIES

Whirlpool’s India Exit Plan in Motion

What Happened

Whirlpool Corporation, the American home appliance giant, is planning to turn down the heat on its Indian investment.

The company is looking to reduce its stake in Whirlpool of India from 51% to around 20% by mid-to-late 2025, and has brought in Goldman Sachs in the deal.

At the close of April 21, Whirlpool of India’s market cap stood at ₹13,881 crore, making the proposed 30% stake dilution worth around ₹4,164 crore. That’s one heavy load, even for a washing machine brand.

Why It Matters

This isn’t just another corporate shuffle. It’s a move with multiple spin cycles. For starters, Whirlpool Corporation wants to free up cash, possibly to manage global operations or debts, especially after a 24% stake sale in 2024 via block deals.

Meanwhile, Whirlpool of India gets a chance to flex its own financial muscles.

The parent company says the Indian arm will have more freedom to pursue growth initiatives, and investors could get a slice of a business that still has a strong brand, stable revenues, and a foothold in India’s rapidly evolving appliance market.

FY24 numbers show Whirlpool of India clocked ₹6,332 crore in revenue and ₹167 crore in profit.

Zoom Out

In short, Whirlpool Corporation wants to unfasten part of its Indian apron, but not completely walk out of the kitchen. It plans to remain the largest shareholder, even after the stake cut.

With Goldman Sachs on board and PE firms lining up, this stake sale could become one of 2025’s hottest corporate deals.  

TOP STORIES

Gear Up to Auction EVs

What Happened

Two government-backed lenders—Power Finance Corporation (PFC) and Indian Renewable Energy Development Agency (IREDA)—are considering putting over 5,000 electric vehicles on the auction block. 

Why? These EVs were bought by Gensol with loans worth ₹663 crore and then leased to ride-hailing startup BluSmart. But here’s the jolt: BluSmart stopped its rides on April 17, which means lease payments vanished into thin air.

The Backstory

Gensol, promoted by brothers Anmol and Puneet Jaggi, suddenly found itself under a regulatory spotlight. SEBI accused the duo of diverting company funds for personal shopping ( luxury apartments and golf clubs).

Following this, credit rating agencies slapped Gensol’s debt with a big fat “D”—for default. Now the lenders are scrambling to prevent these loans from turning into NPAs (non-performing assets).

Why It Matters

Let’s break it down: ₹663 crore isn’t pocket change.

With BluSmart hitting the brakes, there’s no money coming in to pay off the debt. PFC and IREDA aren’t waiting around for the financial apocalypse—they’re actively scouting buyers for the vehicles to recover the loans.

Meanwhile, the Jaggi brothers have stepped down from Gensol’s management and have 21 days to respond to SEBI.  

GROWTH GULLY

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PAISON KA KHEL

Bhavish Aggarwal Tones Down AI Dreams 

Bhavish Aggarwal, founder of Ola Electric, is seeking to raise $300 million for his ambitious AI startup, Krutrim, after initially targeting $500 million.

Despite announcing $50 million in funding earlier and pledging 8% of his Ola Electric shares to fuel the AI push, the venture has struggled to find big-ticket investors.

 
Krutrim aims to build India’s own AI infrastructure—foundational models for Indic languages and indigenous GPU chips. But so far, there’s no peer-reviewed research or product at scale.  

Banks Are Booming—And So Is Nifty Bank!

Nifty Bank just broke its own record, jumping 2% to hit 55,205. The credit? HDFC Bank and ICICI Bank, which climbed 2% each after posting strong Q4 results.

HDFC’s profits got a boost with a 10.3% rise in interest income and fewer bad loans (down to 1.33%). Over the last five days, these two banks have sprinted up to 11%, while Nifty 50 barely managed 5%. 

Investors? Smiling. Markets? Cheering. And the bulls? Definitely back in business.

GLOBAL NAZARA

Top CEOs Cashed Out Before Trump’s Tariff Bomb

Before Donald Trump’s “reciprocal tariffs” shocked the markets on April 2, 2025, a bunch of top U.S. executives seemed to beat the buzzer.

Meta’s Mark Zuckerberg, JPMorgan’s Jamie Dimon, Oracle’s Safra Catz, and others quietly sold off shares worth billions.

Zuckerberg led the parade, offloading 1.1 million Meta shares for a whopping $733 million. Safra Catz followed with $705M in Oracle stock. Nikesh Arora cashed in over $432M from Palo Alto Networks.

Even Jamie Dimon didn’t miss the boat—he dumped $265M worth of JPMorgan shares in two tranches.

Air India Grabs Planes China Didn’t Want

Air India is picking up Boeing planes that Chinese airlines said “no thanks”. Due to a trade fight between the US and China, about 50 Boeing 737 Max jets are now up for grabs—and Air India wants them.

It’s already taken 41 and could get 9 more by June. Since new planes from Air India’s big order won’t arrive until 2026, these ready-to-fly jets are a big help. The only catch? Some of them still have Chinese-style interiors!

MIRCH MASALA

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