Author: Sreelatha M

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Corporate

Sensex down 135 points, Nifty below 23,700

Indian equity markets extended their upward momentum on Thursday, with strong buying across key sectors pushing benchmark indices higher. The Sensex fell 135 points during trade, while the Nifty remained comfortably above the 23,700 level.

The rally was driven by improved global sentiment, expectations of stable crude oil prices, and steady domestic institutional inflows. Broader markets also joined the uptrend, with mid-cap and small-cap indices trading in the green.

Among the top gainers, ITC Limited saw strong buying interest as investors tracked steady performance in its FMCG and cigarette businesses. Nykaa also gained traction, supported by optimism in the consumer and retail sector.

On the losing side, select IT and metal stocks witnessed profit booking. Heavyweights like Infosys and Tata Steel came under mild pressure as traders locked in gains after recent rallies. However, the weakness was limited and did not impact the overall market trend.

Experts added that ongoing strength in select sectors, along with improving macroeconomic signals, is helping sustain the rally, even as investors remain cautious about global interest rate and geopolitical developments.

Analysts said domestic institutional inflows continued to support the market, while foreign investor participation remained stable. Short-term volatility persisted due to global cues, but sentiment stayed broadly positive.

Also Read: Lenskart profit dips in Q4 despite 46% revenue jump

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1 Minute-Read

Australia unemployment rises to highest level

Australia’s unemployment rate rose to its highest level since 2021 in April, according to official data, signalling a cooling labour market. The jobless rate increased as employment growth slowed and fewer new jobs were added compared to previous months.

Analysts said the rise reflects weaker hiring momentum across several sectors, even though the overall economy remains stable.

The data suggests that employers are becoming more cautious amid global economic uncertainty and higher interest rates. Despite the uptick in unemployment, participation in the labour force remained steady, indicating continued interest in jobs among workers across the country.

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Corporate

Dr Reddy’s launches oral semaglutide diabetes tablets in India

Dr Reddy’s Laboratories has launched oral semaglutide tablets in India, giving patients a new and more convenient option for managing type 2 diabetes. The medicine belongs to the GLP-1 class of drugs, which are widely used to control blood sugar levels and also help with weight management.

The company is offering the drug under the brand name Obeda. Unlike most GLP-1 treatments that require injections, this version comes in tablet form, which is expected to be easier for many patients who are uncomfortable with needles or long-term injections.

Dr Reddy’s has priced each tablet at around ₹99, positioning it as a more affordable alternative to imported or branded versions currently available in the market. The company said the goal is to improve access to modern diabetes care for a larger section of patients in India, where diabetes cases continue to rise sharply.

Semaglutide works by mimicking a natural hormone in the body that helps regulate insulin, control appetite, and slow digestion. This helps lower blood sugar levels and can also support weight loss in many patients, making it one of the most in-demand treatments globally for type 2 diabetes.

Doctors say GLP-1 medicines have become increasingly important in recent years because they not only manage diabetes but also address related conditions like obesity, which often goes hand in hand with it. However, the high cost of such drugs has limited their reach in many countries, including India.

The introduction of an oral version is expected to improve acceptance among patients, especially those who prefer tablets over injections. Health experts believe this could encourage more people to stick to long-term treatment plans.

The company plans to make the tablets available through pharmacies across India, but only with a doctor’s prescription. Medical professionals have also cautioned that the drug should be taken under proper supervision, as dosage and suitability depend on individual health conditions.

Also Read: Apple blocks $2.2 bn app store fraud in 2025

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Parle Industries shares jump on viral “Melody” confusion

Parle Industries shares surged to the upper circuit after a viral video of Prime Minister Narendra Modi gifting “Melody” toffees to Italian PM Giorgia Meloni triggered confusion among retail investors.

The buzz around the “Melodi” meme led some traders to mistakenly associate Parle Industries with Parle Products, the actual maker of Melody candies. The stock jumped despite having no business link to the FMCG brand.

Parle Products is privately held and not listed, while Parle Industries operates in infrastructure and recycling. The incident highlights how social media trends can sometimes drive irrational movements in stock markets.

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1 Minute-Read

Meta lays off 8,000 employees after WFH notice

Meta has started laying off around 8,000 employees globally, about 10% of its workforce, as part of a major restructuring focused on artificial intelligence.

Reports say employees were first told to work from home before termination emails were sent, with the earliest notices arriving around 4 AM in some regions. The cuts affect multiple teams, including engineering and product roles.

The move is part of Meta’s shift toward leaner AI-driven operations under CEO Mark Zuckerberg, who has prioritised heavy investment in AI infrastructure and development. Further restructuring is expected in the coming months.

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Beyond

DGCA flags Air India Boeing 787 fuel switch

The Directorate General of Civil Aviation (DGCA) has ordered a fresh inspection of the fuel control switch system on an Air India Boeing 787 aircraft after a reported technical anomaly during operations earlier this year.

According to reports, the decision follows concerns raised after pilots on a London–Bengaluru flight observed unusual behaviour in the fuel control switch mechanism during engine start procedures. The switch is a critical component that regulates fuel flow to aircraft engines.

As part of the new safety review, DGCA officials will travel to Boeing’s facility in Seattle, United States, to oversee testing of the removed fuel control switch panel. The regulator has termed the matter “sensitive” and has insisted that the inspection be conducted in the presence of its officers to ensure a thorough evaluation.

The move comes after earlier precautionary inspections across Air India’s Boeing 787 fleet, which had not found any systemic defects in the fuel switch locking mechanism. However, the latest incident has prompted renewed scrutiny of the component, which has been under observation in global aviation safety discussions.

Fuel control switches on the Boeing 787 have been closely monitored by regulators worldwide following past safety concerns and investigations into rare incidents involving engine shutdowns. While previous checks did not confirm a design fault, authorities continue to review isolated reports of abnormal behaviour.

Air India has supported the latest inspection process, stating that the component has already been sent to the original equipment manufacturer (OEM) for detailed examination. The airline has reiterated that safety remains its top priority and has cooperated fully with DGCA directives.

The broader investigation is also linked to ongoing reviews of earlier incidents involving Boeing 787 aircraft, including a fatal crash in 2025 in which fuel supply interruption was identified as a critical factor under investigation.

A final report on the overall safety review is expected once the OEM testing and DGCA-supervised analysis are completed.

Also Read: Airtel launches Priority Postpaid plans with 5G slicing

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Technology

Airtel launches Priority Postpaid plans with 5G slicing

Bharti Airtel has launched its new Priority Postpaid plans in India, introducing 5G network slicing to enhance mobile connectivity for users. The new service aims to provide better speed, lower latency, and more stable network performance, especially during peak usage hours.

5G slicing allows Airtel to divide its network into multiple virtual segments and allocate dedicated capacity to specific user groups. With this system, Priority Postpaid customers receive higher network priority, ensuring smoother data usage even in crowded locations such as business districts, events, and transport hubs.

The telecom operator said the new plans are designed for customers who rely heavily on mobile internet for work, streaming, and daily communication. Existing Airtel postpaid users will automatically be eligible for the priority benefits, while others can upgrade to postpaid plans through Airtel’s app or retail outlets.

The Priority Postpaid plans start at around ₹449 per month and go up depending on features and benefits. Higher-tier plans include additional perks such as unlimited calling, data rollover, international roaming options, and bundled OTT subscriptions like Netflix, Amazon Prime Video, and Apple TV+.

Airtel said the rollout is part of its strategy to monetise its 5G standalone network and improve user experience through advanced technology. The company said the priority service will be especially useful in high-traffic situations where networks often slow down due to heavy usage.

Also Read: OpenAI co-founder joins Anthropic

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Leaders

OpenAI co-founder joins Anthropic

Artificial intelligence researcher and OpenAI co-founding member Andrej Karpathy has joined AI company Anthropic, marking one of the most high-profile talent moves in the sector this year.

Karpathy announced the development in a post on X, saying he was excited to return to research and work on large language models. He will be part of Anthropic’s pre-training team, which focuses on building and training the core foundation models that power its AI assistant Claude.

Karpathy is widely known in the AI community for his work at OpenAI and Tesla, where he previously led AI and computer vision efforts, including contributions to Tesla’s Autopilot system. He is also a respected educator and public voice in AI, with a large following for his technical insights and commentary on machine learning and model development.

At Anthropic, Karpathy is expected to work closely on large-scale model training and help strengthen the company’s research direction as it competes with leading players like OpenAI, Google DeepMind, and Meta in developing advanced AI systems.

The move comes at a time when competition for top AI talent has intensified significantly, with major firms investing heavily in both infrastructure and researchers capable of advancing frontier models. Anthropic has been rapidly expanding its Claude ecosystem and positioning itself as a strong alternative in the enterprise AI and agent-based systems space.

Karpathy said he believes the next few years will be especially important for the evolution of large language models and expressed interest in focusing again on core research and development. He also indicated that he plans to continue his education-focused AI initiatives alongside his new role.

Also Read: Anthropic acquires stainless to boost Claude integrations

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Corporate

Anthropic acquires stainless to boost Claude integrations

Anthropic has acquired developer tools startup Stainless in a move aimed at strengthening its Claude ecosystem, particularly its API infrastructure and agent-based integrations.

Stainless is a New York-based developer platform founded in 2022 that helps companies automatically generate and maintain software development kits (SDKs) from APIs. Its tools are widely used by major tech firms, including AI companies and API providers, to simplify how developers connect services across systems.

While financial details of the acquisition have not been officially disclosed, earlier reports indicated that the deal is valued at over $300 million. The acquisition marks another step in Anthropic’s broader strategy to deepen its developer ecosystem as competition intensifies in the AI space.

According to company statements and reports, Stainless will help improve how Claude connects with external tools, data sources, and third-party APIs. This is especially important as Anthropic shifts its focus toward building more capable AI agents that can perform complex tasks across multiple systems rather than just responding to prompts.

The company said the acquisition is intended to enhance developer experience and strengthen the “connections between agents and external systems.” Stainless’ technology will now be integrated more closely into Anthropic’s Claude platform, which is already used widely by developers building AI-powered applications.

As part of the deal, most of Stainless’ team, including its founder Alex Rattray, is expected to join Anthropic. The move is also expected to phase out Stainless’ standalone hosted product, with its core capabilities being absorbed into Anthropic’s internal tools.

Anthropic has been rapidly expanding its developer ecosystem in recent months, positioning Claude as a strong alternative to other AI platforms by improving coding tools, integrations, and enterprise readiness.

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Leaders

Elon Musk loses case against OpenAI

Elon Musk has lost his lawsuit against OpenAI after a US jury ruled in favour of the artificial intelligence company, bringing an end to the trial at this stage.

The jury found that Musk’s case could not proceed because it was filed beyond the permitted legal time limit. As a result, the court did not examine the broader claims raised in the lawsuit.

Musk had alleged that OpenAI moved away from its original non-profit mission and shifted towards a profit-driven model, arguing that this change went against its founding principles. He also claimed he was misled during the early development of the organisation.

OpenAI, led by CEO Sam Altman, argued that Musk was aware of the company’s direction over time and that the lawsuit was filed too late. The company also said its shift to a commercial structure was necessary to support the growing cost of AI development.

The verdict is a major win for OpenAI, which has become one of the leading players in the global artificial intelligence industry. The decision removes a key legal challenge as the company continues to expand its operations and infrastructure.

Musk, a co-founder of OpenAI who later parted ways with the company, has since criticised its direction and launched rival AI ventures.

With the verdict now delivered, OpenAI is expected to continue its expansion plans, while Musk is likely to explore further legal options, including an appeal.

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