Reliance gets a fresh upside call; Sun Pharma’s $11.75B Organon deal; Centre's potential ₹5,000 crore credit relief for airlines & more

Reliance Industries' highest share price target implies a 44% upside. Goldman Sachs currently has the highest price target on Reliance Industries at ₹1,910, reflecting a 44% potential increase from Friday's closing levels. Shares of Nifty 50 heavyweight Reliance Industries Ltd. remain a near 'consensus buy' among analysts, with 33 out of 34 having a 'buy' rating and only one a 'sell' recommendation. Sun Pharma announced a definitive agreement to acquire US-listed Organon for $11.75 billion, aiming for long-term value creation and portfolio expansion. Organon shareholders will receive $14 per share, a 24% premium over the last closing price. Organon shares have already rallied sharply, nearly doubling since April 8. The Indian government is considering a ₹5,000 crore credit relief package for airlines under the Emergency Credit Line Guarantee Scheme (ECLGS) to ease liquidity constraints for cash-strapped carriers. Officials are also proposing a cap on the amount each airline can avail under the scheme to ensure wider distribution of funds. Global markets are adapting to geopolitical tensions, with Ed Yardeni of Yardeni Research highlighting that earnings momentum, particularly from AI, remains strong. He maintains a bullish outlook on US equities with a year-end target of 7700, despite lingering geopolitical risks and election-related volatility. Anand Mahindra shared a personal discovery about his grandfather’s 1918 patent related to internal combustion engine technology, which had largely been overlooked in the Mahindra Group’s archives. Paytm Payments Bank’s licence cancellation by the Reserve Bank of India has raised questions about user funds and accounts, though depositors' interests are protected through an orderly exit process. Delhi has enforced the 'No PUC, No Fuel' rule, requiring vehicles to produce a valid Pollution Under Control (PUC) certificate to dispense fuel, based on Rule 115 of the Central Motor Vehicles Rules, 1989. A senior commander of Lashkar-e-Taiba, Sheikh Yousuf Afridi, was killed by gunmen in Pakistan’s Khyber Pakhtunkhwa province on April 26. The article also briefly discusses unrelated topics like a 'No-Grammarly' tool for AI emails, Zoho’s Sridhar Vembu’s call for Indians in the US to return, and emerging market foreign investor outflows, which are not central to the main narrative.