Bhushan Power verdict: A triumph of rule of law; a setback for insolvency resolution

In a landmark judgment dated 2nd May 2025, the Supreme Court of India disposed of an appeal filed in 2020 concerning the resolution of Bhushan Power and Steel Ltd. (BPSL). The judgment is detailed, incisive, and beyond reproach by any legal standard. It lays bare a series of grave illegalities and lapses, some deliberate and collusive, in the approval and implementation of the company’s resolution plan.

Can JSW ruling upset insolvency regime’s balance?
The Supreme Court ruling quashing Bhushan Power & Steel’s (BPSL) resolution plan has upended JSW Steel’s ₹19,000 crore acquisition. Mint explains the recovery options—from a Supreme Court review to potential government intervention.

Aditya Ultra Steel secures land lease for 5,000 KWP Solar plant
Rajkot : Aditya Ultra Steel Ltd (NSE - AUSL) - Leading company engaged in the business of manufacturing rolled steel products i.e. TMT bars under the brand name 'Kamdhenu' in a bold stride toward sustainability and self-reliance has announced a significant investment in renewable energy a 5,000 KWP Solar Captive Power Plant aimed at powering its operations with clean, green energy. The company was listed on the NSE -SME exchange on 16th September 2024.

JSW Steel may seek legal recourse against SC’s rejection of Bhushan Power & Steel acquisition
 

Spot power prices down 50% in May, as demand reduces
Electricity prices in the spot market declined by as much as 50% during the first five days of May as unseasonal rains, particularly in the North, reduced power demand while sell bids increased substantially, according to data from the Indian Energy Exchange. 

ReNew secures USD 100 mn investment from British International Investment
ReNew ties up $100-mn investment from UK for solar manufacturing arm
The Financial Express

Ather Energy shares make tepid market debut, slip below issue price

New Delhi: The newly listed Ather Energy stock had a lukewarm debut on the Indian stock market on Tuesday, listing at a modest 2% premium over its issue price of ₹321. On the NSE, the stock opened at ₹328, a 2.18% premium, while on the BSE, it debuted at ₹326.05, up 1.57%. However, the stock quickly reversed its early gains, falling nearly 5% to about ₹313 on the NSE. At this level, the electric two-wheeler manufacturer’s market capitalization stood at ₹11,608 crore.

RenewSys awarded EcoVadis platinum rating -- A first in India's Solar Manufacturing Sector
 

Moody’s cuts India’s GDP growth forecast to 6.3% in 2025 on US trade uncertainty
Moody’s Ratings on Tuesday cut India’s GDP growth projections for 2025 to 6.3 per cent, from 6.5 per cent, saying economies globally will see a slowdown on account of heightened US policy uncertainty and trade restrictions. In its Global Macro Outlook 2025-26 (May update), Moody’s said geopolitical stresses, like tension between India and Pakistan, also have a potential downside risk to its baseline growth forecasts. Costs to investors and businesses are likely to rise as they factor in new geopolitical configurations when deciding where to invest, expand, and/or source goods, Moody’s said.

Tepid Tuesday: Nifty below 24,400 and Sensex down 150 points; Big cuts in Adani Enterprises, Jio Financial
It was not a cheerful day for investors as the Indian stock market wrapped up Tuesday’s trading session with losses across key indices. Both Sensex and Nifty slipped into negative territory.

India’s services PMI rises marginally to 58.7 in April on growth in business activity
India’s service providers recorded a rise in growth momentum in April with HSBC India Services Business Activity Index, or services PMI for the month accelerated to 58.7 from 58.5 in March. This indicated a sharp and stronger expansion in service sector output. A reading above 50 signals sector expansion, while a reading below 50 indicates contraction, and 50 reflects no change. The headline figure was above its long-run average of 54.2.

India-UK Free Trade Agreement: What this deal means for exports-imports, tariffs and more – Key takeaways
India and the United Kingdom signed a landmark Free Trade Agreement (FTA) on Tuesday, finally sealing the deal after more than three years of intense, stop-start negotiations. Coming at a time when protectionist policies are rattling global markets, especially with US President Donald Trump’s latest tariff offensive, this pact signals a bold step by both nations to deepen economic cooperation and hedge against growing trade uncertainty.