India Steps Up Stake Sales as Iran War Strains Finances

NewsletterMarkets Daily IndiaIndia Steps Up Stake Sales as Iran War Strains FinancesThe asset-sale push comes even as India’s equity capital market activity has slowed over the past two months.FacebookXLinkedInEmailLinkGiftExpandNarendra Modi, India’s prime minister, speaks during a news conference in New Delhi, India earlier this year.Photographer: Prakash Singh/BloombergFacebookXLinkedInEmailLinkGiftGift this articleContact us:Provide news feedback or report an errorConfidential tip?Send a tip to our reportersSite feedback:Take our SurveyNew WindowFacebookXLinkedInEmailLinkGiftBy Ashutosh Joshi and Rajesh MascarenhasMay 29, 2026 at 2:45 AM UTCBookmarkSaveLock This article is for subscribers only.Good morning... I’m Rajesh Mascarenhas in Mumbai, and we’re back after a holiday with your daily dose of news and updates. Asian stocks climbed this morning while oil has edged lower after the US and Iran reached a tentative deal to extend a ceasefire by 60 days, pending signoff from President Donald Trump. That should bode well for Indian equities, which continue to trail regional peers this year, losing out to markets tied more directly to the booming artificial intelligence infrastructure and semiconductor themes. In an interview with Bloomberg, Carson Block said AI is a key reason his investment research firm Muddy Waters Capital is rethinking plans for a India long-short fund. Meanwhile, the government is speeding up stake sales in state-owned companies to shore up finances as the oil-importing nation faces mounting fiscal strain from the energy shock spurred by the Middle East war (more on that below). Finally, Asian Paints and InterGlobe Aviation are among the major companies due to report today, with the earnings season entering its final stretch. In today’s newsletter, we write about: