Top Stories: Coal India OFS, Pope’s AI warning, markets end lower, Iran-US tensions and more

Geopolitics, energy security and corporate dealmaking dominated headlines on Tuesday as signs of easing tensions in West Asia boosted hopes of softer oil prices and improved sentiment towards emerging markets like India. Domestic equities, however, snapped a two-day winning streak amid late selling pressure, while the Centre confirmed CNBC-TV18’s newsbreak on the Coal India OFS, aiming to raise over ₹5,000 crore through a stake sale. Vedanta Chairman Anil Agarwal also outlined a $20 billion growth roadmap ahead of four planned listings.

On the global front, the Quad launched a new Indo-Pacific energy security initiative, while US Secretary of State Marco Rubio and Russian Foreign Minister Sergey Lavrov discussed the wars in West Asia and Ukraine. Back home, the Delhi High Court accepted the Centre’s assurance on the Gymkhana Club land dispute, and the government formed a panel to examine demographic changes linked to illegal immigration. In healthcare and technology, Eli Lilly-backed gene-editing therapy showed promising cholesterol trial results, India tightened Ebola screening measures at airports, BP removed chairman Albert Manifold over governance concerns, and Pope Leo XIV called for stricter regulation of artificial intelligence.

US military launches fresh new strikes on targets in southern Iran

The US military said it conducted strikes against targets in Iran near the Strait of Hormuz, describing the operation as a series of “self-defence strikes” amid the ongoing ceasefire between Washington and Tehran. US Central Command said the strikes targeted missile launch sites and Iranian boats allegedly attempting to deploy naval mines near Bandar Abbas in southern Iran.

Navy Captain Tim Hawkins, spokesperson for US Central Command, said American forces were continuing to defend themselves “while using restraint during the ongoing ceasefire”. There was no immediate indication of any change to the temporary ceasefire that came into effect on April 8.

Also Read: Renewable energy key to energy security amid West Asia tensions: Oyster Renewable MD

Sensex, Nifty snap two-day winning streak as late selloff erases early gains

The equity benchmark indices BSE Sensex and NSE Nifty erased opening gains and ended largely lower on Tuesday (May 26), snapping a two-day winning streak amid weakness in heavyweight stocks including Apollo Hospitals Enterprise, Tata Consultancy Services, Wipro, Trent and Bharti Airtel.

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Also read: Rupee declines 15 paise against dollar on geopolitical worries, month-end flows

CNBC-TV18 newsbreak confirmed: Govt plans to mop up over ₹5,000 crore via Coal India OFS

Coal India Q4: Profit, revenue beat estimates; dividend declared

The Centre has announced an offer-for-sale (OFS) in Coal India Ltd, through which it plans to divest up to a 2% stake in the state-run miner via a base issue and greenshoe option

Read more Anil Agarwal maps out $20 billion growth plan as Vedanta prepares to list four new companies

With its demerger process nearing completion, the Vedanta Group is preparing for an aggressive expansion phase across key businesses, including aluminium, oil and gas, power, and steel.

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Quad countries launch Indo-Pacific energy security initiative amid global shipping worries

The Quad foreign ministers launched a new Indo-Pacific energy security initiative, expanded cooperation in critical technologies and maritime security, and condemned the Pahalgam terror attack, as the four-nation grouping sought to deepen collaboration across a growing range of strategic and development-focused areas.

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Delhi HC accepts Govt's assurance of no forceful takeover of Gymkhana Club land

The Delhi High Court on Tuesday took note of the Centre’s assurance that no forceful possession of the Delhi Gymkhana Club premises would be taken on June 5, and that any eviction would be carried out strictly in accordance with the law after prior notice.

Read more Centre sets up panel to study 'unnatural' demographic changes linked to illegal immigration

The Centre has constituted a high-level committee to examine demographic changes in the country arising from illegal immigration and other "unnatural causes", Union Home Minister Amit Shah said on Tuesday.

Read more Eli Lilly-backed gene-editing therapy cuts ‘bad’ cholesterol by up to 62% in early trial

Gene-editing therapy VERVE-102, backed by US pharma giant Eli Lilly, has shown early signs of the capability to lower “bad” cholesterol with one-time treatment.

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Rubio, Lavrov discuss West Asia war, Ukraine strikes, bilateral ties

US Secretary of State Marco Rubio discussed the war in West Asia and Russia's latest attacks in Ukraine in a call with Russian Foreign Minister Sergey Lavrov, the State Department said on Monday, May 25.

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India steps up Ebola preparedness at airports amid outbreak concerns in Africa

India’s aviation and health authorities have stepped up Ebola preparedness measures following concerns over the outbreak of the disease in certain parts of Africa. The Directorate General of Civil Aviation (DGCA) has issued a Standard Operating Procedure (SOP) directing airlines to implement in-flight and arrival protocols for passengers travelling from or transiting through affected countries, including Uganda and Congo.

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BP shares fall after chairman Albert Manifold removed over governance concerns

British energy major BP said on Tuesday that its board had unanimously decided to remove chairman Albert Manifold with immediate effect, citing governance oversight and conduct-related concerns.

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Pope Leo XIV urges strict AI rules, warns against profit-driven warfare

Pope Leo XIV called Monday for robust regulation of artificial intelligence and for its developers to work for the common good rather than profit, issuing a sweeping manifesto on safeguarding humankind as the technology impacts everything from work to war.

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