FINANCEOUTLOOKINDIAMAY, 20268REPORTFEDERAL BANK TO ACQUIRE SELECT STANDARD CHARTERED CARD PORTFOLIO BAIN CAPITAL SELLS 1% STAKE IN EMCURE PHARMACEUTICALS FOR RS 289 CR VEDANTA TO FILE NEXT WEEK FOR DEMERGER LISTING; TRADING BY MID-JUNECOGNIZANT LAUNCHES $320 MN PROJECT LEAP TO DRIVE AI-LED RESTRUCTURINGSENSEX AND NIFTY END HIGHER BUT ERASE GAINS ON PROFIT BOOKINGSMALLER UPI APPS PUSH FOR CURBS ON MARKET LEADERS AT NPCI MEET TODAYFederal Bank has approved a strategic move to acquire a select portfolio of retail credit cards from Standard Chartered Bank India, signalling a deeper push into the fast-growing cards segment. The decision was cleared by the bank's board during its meeting held on April 30, 2026. In a regulatory filing, the bank stated that it will enter into a deed of assignment (DOA) with Standard Chartered Bank India to execute the transaction. While financial details of the deal were not disclosed, the bank confirmed that further updates will follow upon execution of the agreement. Indian equity benchmarks closed in positive territory on Wednesday, April 29, but surrendered a large portion of their intraday gains as profit booking at higher levels triggered a sharp pullback in the latter half of the session.The market opened on a muted note and gained momentum in early trade, supported by strong buying in auto and FMCG stocks. However, the rally lost steam as the day progressed, with investors turning cautious and locking in gains, leading to a partial reversal in benchmark indices. Global investment firm Bain Capital has offloaded nearly 1% stake in Emcure Pharmaceuticals through open market transactions, raising over Rs 289 crore, according to block deal data on the NSE. The transaction saw Bain Capital's affiliate, BC Investments IV Ltd, sell approximately 18 lakh shares-representing a 0.95% stake-at an average price of Rs 1,608.20 per share. The total deal size stood at Rs 289.47 crore. Following the stake sale, shares of Emcure Pharmaceuticals declined 2.31%, trading at Rs 1,690 apiece on the National Stock Exchange. Mining major Vedanta is set to file for stock exchange approvals next week for the listing of its demerged entities, with trading expected to commence by mid-June. The update was shared by Deshnee Naidoo during the company's Q4 investor call, indicating that the demerger process has entered its final phase.The restructuring plan, approved by the board, will result in the creation of five independent, sector-focused companies. According to Ajay Goel, the demerger will become effective from May 1, with shareholders holding one share as of April 29 receiving four additional shares in the newly formed entities.The move is aimed at simplifying Vedanta's corporate structure while enabling each business to operate as a pure-play entity with its own growth strategy. The company expects the restructuring to enhance investor interest by offering direct exposure to sector-specific businesses. A group of smaller UPI players, including Amazon Pay, CRED, Navi, and Super Money, are set to seek fresh regulatory curbs on dominant platforms at a key meeting with the National Payments Corporation of India (NPCI) today. The move comes as the industry continues to grapple Cognizant has announced a major restructuring initiative, "Project Leap", with a planned investment of $230 million to $320 million aimed at accelerating its shift towards an AI-led operating model and improving efficiency.The announcement came alongside the company's first-quarter results on April 29, indicating a strategic reset as it adapts to changing client demands and evolving technology trends. While the company has not explicitly termed the move as layoffs, a significant portion of the restructuring cost between $200 million and $270 million has been allocated for employee severance and personnel-related expenses, signaling potential workforce changes. with the long-pending issue of implementing a market share cap.According to reports, the meeting will see participation from a broader set of ecosystem players beyond PhonePe, Google Pay, and Paytm, with smaller firms expected to jointly push proposals aimed at limiting the continued dominance of the top three apps.
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