Author: Sreelatha M

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Technology

Apple rolls out back-to-school offer

Apple has kicked off its Back to School 2026 campaign in India, bringing education discounts and free accessories on select Mac and iPad models for students and educators. The annual promotion, which runs until August 27, is designed to help those preparing for the new academic year purchase Apple devices at lower prices while also receiving useful accessories at no additional cost.

The offer is available through Apple’s Education Store and applies to eligible university and college students, parents purchasing on behalf of their children, as well as teachers and other education staff. Buyers must complete Apple’s education verification process, either online through UNiDAYS or at an Apple Store, before they can avail of the benefits.

This year, Apple is bundling free accessories with eligible purchases instead of offering gift cards. Customers purchasing a MacBook Air, MacBook Pro or the newly introduced MacBook Neo can receive a complimentary pair of AirPods 4 or an AirTag four-pack, depending on the product they choose. Buyers opting for an eligible iPad Air or iPad Pro will receive a free Apple Pencil, making the offer particularly useful for students who prefer digital note-taking, sketching, designing or annotating study material.

Along with the complimentary accessories, Apple is also extending its education pricing, which reduces the cost of several Mac and iPad models compared to their standard retail prices. The discounted pricing is available across some of Apple’s most popular devices, including the latest MacBook Air lineup powered by Apple’s M-series chips and the newest iPad models.

For students heading to college, purchasing a laptop or tablet is often one of the biggest academic investments. A MacBook has become a preferred choice for many students pursuing engineering, programming, media studies and creative courses because of its performance, battery life and long software support. Similarly, the iPad paired with an Apple Pencil has become increasingly popular among students for taking handwritten notes, creating presentations, editing documents and attending online classes.

Apple has also retained several additional benefits alongside the promotion. Eligible customers can personalise supported products with free engraving, while financing options and trade-in programmes remain available for buyers looking to reduce the upfront purchase cost. These options make it easier for students and families to upgrade older devices before the start of the academic session.

Unlike its promotion in India, Apple is offering Apple Gift Cards to eligible customers in countries such as the United States and Canada. The company has instead chosen to provide free accessories in India, a strategy that is expected to resonate with students who often purchase accessories separately after buying a new laptop or tablet. By including AirPods or an Apple Pencil in the package, Apple is increasing the overall value of the purchase while encouraging users to become part of its broader ecosystem.

The launch of the campaign comes at a time when competition in the premium student device market is becoming increasingly intense. Brands including Samsung, Dell, HP, Lenovo and ASUS have introduced special student offers, cashback schemes and exchange programmes in recent months to attract buyers before the new academic year. Apple’s combination of education discounts and premium accessories is aimed at maintaining its position in the high-end laptop and tablet segment.

The campaign also reflects Apple’s growing focus on India’s education market, where demand for premium computing devices has steadily increased as hybrid learning, digital classrooms and online collaboration become more common. Students today require reliable devices not only for coursework but also for coding, content creation, video editing, artificial intelligence projects and remote internships. Apple’s latest offer seeks to address those needs while making its products slightly more affordable through education pricing.

With college admissions underway across the country, the Apple Back to School 2026 campaign is expected to generate strong demand for MacBooks, iPads and related accessories over the coming weeks. Students planning to upgrade their study setup or purchase their first Apple device can take advantage of the limited-period offer until August 27, making it one of the company’s biggest education-focused promotions of the year.

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Corporate

Tech Mahindra posts robust Q1 with 28% rise in profit

Tech Mahindra reported a strong start to FY27, posting a 28.5% rise in first-quarter net profit as healthy deal wins, improved operating margins and steady execution helped offset a cautious global technology spending environment.

The IT services company reported a consolidated net profit of ₹1,465 crore for the quarter ended June 30, up from ₹1,140 crore a year earlier. Revenue from operations increased 17.7% year-on-year to ₹15,712 crore, beating market expectations and reflecting steady demand across key business segments.

The company’s performance comes at a time when the Indian IT sector continues to face slower discretionary spending as global enterprises remain cautious amid economic uncertainty. While clients are delaying some large transformation projects, Tech Mahindra said demand for artificial intelligence (AI), cloud and digital engineering services continues to support business growth.

A key highlight of the quarter was the strong improvement in deal wins. Total order bookings rose to $1.08 billion, compared with $809 million in the corresponding quarter last year. The higher deal intake signals growing client confidence and provides better revenue visibility for the coming quarters.

The company also recorded an improvement in profitability, with operating margins expanding on the back of cost optimisation measures, higher productivity and improved resource utilisation. The margin expansion is part of Tech Mahindra’s ongoing turnaround strategy aimed at improving operational efficiency while focusing on high-value business opportunities.

Managing Director and Chief Executive Officer Mohit Joshi said the company delivered another quarter of consistent execution despite an uncertain business environment. He noted that strong deal momentum and improving margins reflect the success of the company’s transformation efforts and position it well for long-term growth.

Among business verticals, the manufacturing segment emerged as a key growth driver, supported by increased spending on digital transformation and engineering services. The communications business, which contributes a significant share of the company’s revenue, also showed signs of stabilisation after facing pressure over the past few quarters.

Tech Mahindra continued to strengthen its capabilities in emerging technologies during the quarter by expanding partnerships with global technology companies. The company announced collaborations in areas such as AI, cloud computing and intelligent automation to help enterprise customers modernise their operations and improve productivity.

These results indicate that Tech Mahindra’s turnaround strategy is gaining traction. While profit growth was strong, some analysts noted that net profit was marginally below estimates due to higher tax expenses. However, the company’s stronger revenue growth, healthy deal pipeline and improving margins were seen as positive indicators.

The latest earnings also contrast with the cautious outlook offered by some peers, highlighting Tech Mahindra’s ability to execute efficiently despite weak macroeconomic conditions. Analysts believe the company’s diversified client base and focus on AI-led services could help it outperform if technology spending gradually improves during the year.

The broader IT services industry continues to face uncertainty as clients remain focused on cost optimisation and carefully evaluate new technology investments. However, spending on AI, cybersecurity, cloud migration and digital engineering remains relatively resilient, creating opportunities for companies with strong capabilities in these areas.

Going forward, investors will closely watch whether Tech Mahindra can maintain its deal momentum, sustain margin improvement and convert its growing order book into stronger revenue growth. With healthy deal wins, improving operational efficiency and increasing demand for AI-powered services, the company appears better positioned to navigate the challenging global IT environment.

The Tech Mahindra Q1 results suggest that disciplined execution, stronger client engagement and investments in next-generation technologies are beginning to deliver results. While uncertainty in global technology spending persists, the company has entered FY27 with stronger fundamentals and renewed confidence in its growth strategy.

Also Read: Wipro Q1 profit flat at ₹3,352 cr, outlook weak

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Corporate

Wipro Q1 profit flat at ₹3,352 cr, outlook weak

Wipro kicked off FY27 on a cautious note, reporting a largely unchanged first-quarter profit and issuing a subdued revenue outlook for the September quarter, underlining the continued pressure on the global information technology (IT) services industry.

The Bengaluru-headquartered IT major posted a consolidated net profit of ₹3,352 crore for the quarter ended June 30, almost flat compared with the corresponding period last year. Revenue from operations stood at ₹22,135 crore, while revenue from the IT services business declined 1.4% year-on-year to $2.6 billion, falling short of market expectations.

The company’s guidance for the second quarter also disappointed investors. Wipro expects IT services revenue in constant currency to range between a 1.5% decline and a marginal 0.5% growth sequentially, indicating that demand recovery remains slow as global clients continue to tighten technology budgets.

The earnings reflect a broader trend across the Indian IT sector, where enterprises are delaying discretionary technology spending amid persistent macroeconomic uncertainty. Many customers are prioritising cost optimisation over large-scale digital transformation programmes, resulting in longer decision-making cycles and slower project execution.

While announcing the results, Wipro’s management said the company remains focused on helping clients improve efficiency and adopt artificial intelligence (AI)-led solutions. However, executives acknowledged that clients continue to be cautious in committing to new spending, particularly for large transformation projects. Although interest in AI services is growing rapidly, many engagements are still in the evaluation stage and have yet to translate into meaningful revenue.

The company also reported a decline in deal momentum during the quarter. Total bookings stood at $3.37 billion, significantly lower than the corresponding period last year. Analysts said the fall in bookings indicates that large contracts are taking longer to close and that converting signed deals into revenue remains a challenge.

Despite weak revenue growth, Wipro managed to protect profitability through tight cost controls and operational efficiency measures. The company has continued to optimise utilisation levels, improve delivery productivity and maintain pricing discipline, helping it keep margins relatively stable despite a difficult demand environment.

Reflecting confidence in its balance sheet, Wipro’s board declared an interim dividend of ₹2 per equity share for shareholders.

The results were received cautiously by the market, with the company’s shares coming under pressure after the earnings announcement. Several brokerages revised their price targets, citing weaker-than-expected revenue performance and conservative guidance for the coming quarter. Analysts believe Wipro continues to face execution challenges even as peers such as TCS, HCLTech and Tech Mahindra have shown relatively better resilience in navigating the uncertain business environment.

Industry experts say the pace of recovery for IT companies will largely depend on improvements in client confidence, particularly in the US and Europe, which remain the largest markets for Indian software exporters. Interest in generative AI, cloud modernisation and cybersecurity continues to create long-term opportunities, but customers are seeking faster returns on investment before committing to major technology programmes.

For Wipro, the immediate focus is likely to remain on improving deal conversion, strengthening client relationships and expanding its AI-powered service offerings. The company has been investing in artificial intelligence capabilities and consulting services to capture emerging demand, even as traditional IT spending remains subdued.

The Wipro Q1 results reinforce the challenges facing the IT services industry, where profitability has remained relatively stable but revenue growth continues to be constrained by cautious enterprise spending. With management projecting another muted quarter ahead, investors will be closely watching whether improving demand for AI and digital transformation can help the company regain growth momentum in the second half of FY27.

For now, Wipro’s performance suggests that while the worst of the slowdown may be over, a broad-based recovery in the global technology spending cycle is yet to take hold.

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Corporate

Sensex surges over 650 points, Nifty tops 24,200

Indian equity benchmarks staged a strong comeback on Friday, with the BSE Sensex soaring more than 650 points and the Nifty 50 reclaiming the 24,200 mark as investors cheered upbeat corporate earnings, sustained buying in banking stocks and renewed optimism in the information technology (IT) sector. However, losses in Wipro, Tech Mahindra and Tata Motors prevented an even sharper rally, highlighting the stock-specific nature of the ongoing earnings season.

The Sensex ended the session above the 79,400 level, while the Nifty comfortably traded above the crucial 24,200 mark. Market breadth remained positive, with advances outnumbering declines on the National Stock Exchange (NSE), reflecting improving investor confidence despite mixed global cues.

Leading the rally were heavyweight banking and financial stocks. HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank, State Bank of India, and Bajaj Finance attracted strong buying interest, providing significant support to the benchmark indices. Telecom major Bharti Airtel also traded firmly, while Infosys emerged as one of the biggest contributors to the day’s gains following its quarterly earnings announcement.

Infosys impressed investors after reporting better-than-expected financial results for the June quarter and raising its revenue growth guidance for FY27. The improved outlook strengthened confidence that large Indian IT companies continue to benefit from increasing demand for digital transformation, cloud services and artificial intelligence (AI)-led projects despite global macroeconomic uncertainties. The stock rallied sharply as investors welcomed the company’s positive commentary on client spending and deal momentum.

The rally in the Sensex and Nifty reflected investors’ preference for quality large-cap stocks during the ongoing earnings season. Analysts said strong results from market heavyweights are helping offset concerns over global uncertainty, with banking and select technology stocks providing stability to both benchmark indices.

In contrast, Wipro emerged as the biggest loser among frontline stocks after reporting a mixed set of June-quarter results. The company’s shares fell more than 3% after management issued a cautious outlook for the September quarter and several leading brokerages reduced their target prices.

Wipro reported a consolidated net profit of ₹3,352 crore, registering a modest 1% year-on-year increase, while revenue from operations rose 11% to ₹24,479 crore. Although the numbers were largely in line with expectations, investors were disappointed by the company’s weak revenue guidance. Wipro expects its IT services business to deliver between a 1.5% decline and 0.5% growth in constant currency during the September quarter, signalling continued softness in client spending.

The cautious outlook prompted brokerages such as Nomura, Nuvama and Motilal Oswal to lower their target prices on the stock. While most analysts retained their long-term positive stance due to Wipro’s investments in AI and digital capabilities, they warned that near-term revenue growth and margin expansion could remain under pressure amid delayed client decision-making and slower deal ramp-ups.

Apart from Wipro, Tech Mahindra also witnessed selling pressure as investors remained cautious ahead of its earnings, while Tata Motors declined following profit booking after recent gains. Select auto and metal stocks also traded lower, limiting the overall upside in the market.

Despite weakness in a few large-cap names, the Sensex and Nifty maintained their upward momentum as gains in financial and IT heavyweights outweighed losses in select auto and technology stocks. The broader market also remained resilient, with both the Nifty Midcap 100 and Nifty Smallcap 100 indices ending higher, indicating that buying interest extended beyond blue-chip companies. Mid-cap financials, capital goods, realty and consumer-focused stocks attracted fresh investments, reflecting improving risk appetite among domestic investors.

Sector-wise, Nifty Bank, Financial Services, IT and FMCG indices were among the top performers during the session. Banking stocks continued to benefit from expectations of healthy credit growth, stable asset quality and strong profitability, while select IT stocks gained on optimism surrounding AI-led technology spending.

Investor sentiment was also supported by sustained foreign institutional investor (FII) buying and expectations of robust corporate earnings during the June-quarter reporting season. Analysts believe improving domestic macroeconomic indicators, resilient consumption trends and continued government spending on infrastructure are providing a favourable backdrop for Indian equities.

Global cues remained mixed, with investors keeping a close watch on developments related to interest rates, crude oil prices and geopolitical tensions. However, India’s relatively strong economic fundamentals and consistent earnings growth have helped domestic markets outperform several global peers in recent months.

The experts are of the opinion that Friday’s trading session highlighted a clear distinction between companies delivering stronger earnings and those issuing cautious business outlooks. While Infosys was rewarded for its robust execution and improved guidance, Wipro faced selling pressure as investors reacted to its subdued growth forecast and brokerage target price cuts.

With the June-quarter earnings season gathering pace, analysts expect the Sensex and Nifty to remain driven by stock-specific movements rather than broad market trends. Companies delivering strong earnings and upbeat guidance are likely to outperform, while those reporting weaker growth outlooks could continue to face selling pressure. For now, the sharp gains in the Sensex and Nifty underline investors’ confidence in India’s long-term growth story, even as they remain watchful of global developments and upcoming corporate earnings.

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1 Minute-Read

Kudankulam nuclear power plant faces cyber breach probe

India’s Kudankulam Nuclear Power Plant has come under scrutiny after reports of a data breach involving documents allegedly linked to the facility appearing online.

The leaked information reportedly includes technical details and internal documents, raising concerns about cybersecurity at critical infrastructure sites. Officials have maintained that the plant’s nuclear reactors remain safe and operational, with no impact on power generation or safety systems.

Investigations are underway to determine the source and extent of the breach. The incident has renewed focus on strengthening cybersecurity measures around India’s strategic facilities as digital threats against critical infrastructure continue to rise.

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Corporate

Swiggy, HPCL roll out LPG service

Swiggy Instamart has partnered with Hindustan Petroleum Corporation Ltd. (HPCL) to introduce India’s first on-demand LPG cylinder delivery service through a quick-commerce platform. The pilot project has been launched in Bengaluru, allowing customers to order 5kg and 10kg LPG cylinders for doorstep delivery in just a few clicks.

The service is aimed at making cooking gas more accessible, especially for households, students, working professionals and small businesses that need smaller LPG cylinders at short notice. Customers can place orders through the Swiggy Instamart app, just as they would for groceries or daily essentials.

The initiative marks a new step in India’s growing quick-commerce sector, which has expanded beyond groceries to include medicines, electronics and now cooking gas. By adding LPG cylinders to its offerings, Swiggy hopes to provide greater convenience to urban consumers who increasingly rely on app-based deliveries.

Initially, the service will be available only in selected parts of Bengaluru as part of a pilot programme. Based on customer response and operational performance, the companies may consider expanding it to other cities in the future.

HPCL said the partnership combines its fuel distribution network with Swiggy Instamart’s fast delivery infrastructure, making it easier for customers to access LPG cylinders when needed. The companies added that all deliveries will comply with safety guidelines and regulatory requirements.

Also Read: Patanjali Foods shares sink 19% in trade

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1 Minute-Read

Patanjali Foods shares sink 19% in trade

Shares of Patanjali Foods fell sharply on Thursday, dropping as much as 19% intraday to a 52-week low amid reports of a possible block deal.

The sudden decline triggered heavy trading and sparked speculation in the market. Responding to the sharp fall, the company clarified that its business operations remain normal and that there has been no material development affecting its performance.

While investors closely tracked the stock, analysts said the decline appeared to be linked to market activity rather than the company’s fundamentals. The shares later recovered some losses but remained under pressure by the close.

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Corporate

AI startup Emergent turns unicorn

India’s AI startup ecosystem has added another unicorn, with Emergent raising $130 million in a Series C funding round that values the company at $1.5 billion. The milestone comes just over a year after the startup was launched, making it one of the fastest-growing AI companies in the country.

The latest funding round was led by global investors, reflecting growing confidence in India’s rapidly expanding artificial intelligence sector. The fresh capital will be used to accelerate product development, expand the company’s engineering team and strengthen its presence in international markets.

Emergent specialises in AI-powered coding tools that help software developers write, test and optimise code more efficiently. Its platform uses advanced generative AI to automate repetitive programming tasks, allowing developers to focus on solving complex problems and building new applications faster.

The company’s rapid growth has been driven by strong demand for AI tools among businesses and software developers worldwide. Since its launch, Emergent has attracted customers across multiple markets by offering solutions that improve productivity and reduce software development time.

The new funding marks a significant milestone not only for Emergent but also for India’s startup ecosystem, which has seen increasing investor interest in AI-focused companies. Industry experts believe the success of startups like Emergent highlights India’s growing role in the global AI innovation landscape.

Company executives said the investment will help scale the platform, improve AI capabilities and support expansion into new markets. The startup also plans to hire more engineers, researchers and product specialists as it continues to grow.

Investors say they see enormous potential in AI-assisted software development, a sector expected to witness rapid growth as businesses increasingly adopt artificial intelligence to improve efficiency and reduce costs.

Emergent’s rise to unicorn status comes at a time when global demand for AI solutions continues to surge. As organisations embrace generative AI across industries, startups building specialised AI products are attracting significant investments.

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Beyond

Government hikes diesel, ATF export duty

India has increased the windfall tax on exports of diesel and aviation turbine fuel (ATF) while reducing the levy on petrol exports, reflecting changes in global crude oil prices and refining margins.

According to a notification issued by the Ministry of Finance, the export duty on diesel has been raised to ₹5.50 per litre from ₹4.50 per litre, while the levy on ATF has increased to ₹2.50 per litre from ₹1.50 per litre. At the same time, the government has reduced the windfall tax on petrol exports to ₹2 per litre from ₹3 per litre.

The revised tax rates came into effect on July 16 and are part of the government’s fortnightly review of windfall taxes. These duties are adjusted regularly based on international crude oil prices and the profit margins earned by refiners on exports.

Windfall taxes were first introduced in 2022 to ensure that the government shares in the extra profits earned by oil producers and refiners when global energy prices surge. The tax also aims to encourage adequate fuel supplies in the domestic market while allowing refiners to continue exporting petroleum products.

The latest revision reflects stronger refining margins for diesel and jet fuel in overseas markets, prompting the government to increase export duties on these products. Lower margins on petrol exports, however, led to a reduction in the tax on gasoline shipments.

India is one of the world’s largest fuel exporters, with private refiners such as Reliance Industries and Nayara Energy accounting for a significant share of overseas shipments. Changes in export duties can influence refiners’ profitability, export volumes and domestic fuel availability.

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Beyond

Cabinet clears ₹1.9 lakh cr semiconductor push

The Union Cabinet has approved a ₹1.9 lakh crore incentive package to strengthen India’s semiconductor and mobile phone manufacturing ecosystem, marking a major step towards making the country a global electronics hub.

The package includes ₹1.27 lakh crore for Semicon 2.0 and ₹62,500 crore for a new Mobile Phone Manufacturing Scheme (MPMS). Together, the schemes are expected to attract fresh investments, expand domestic production, create jobs and increase exports.

Semicon 2.0 builds on the India Semiconductor Mission launched in 2021. The new programme focuses on developing the entire semiconductor value chain, including chip design, fabrication, packaging, materials, equipment, research and skilled workforce development. The government hopes this will reduce import dependence and strengthen India’s position in the global chip supply chain.

The Cabinet also approved the new mobile manufacturing scheme, which will replace the existing Production Linked Incentive (PLI) programme. The scheme will encourage companies to increase local value addition, source more components from India and boost exports.

According to the government, India has become the world’s second-largest mobile phone manufacturer by volume, with smartphones emerging as the country’s largest export category. Officials believe the new schemes will help sustain this growth and attract nearly ₹4 lakh crore in investments over the coming years.

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