Author: Sreelatha M

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Corporate

Sensex jumps 700 points, Nifty ends above 23,850

Indian benchmark indices ended sharply higher on Monday, with the Sensex and Nifty posting strong gains amid broad-based buying across sectors.

The 30-share BSE Sensex climbed 736 points to close at 76,264, while the Nifty 50 advanced 231 points to settle at 23,853.

The rally was driven by strong buying in banking, financial and heavyweight stocks, helping the market recover from recent volatility. Investors responded positively to improving global market sentiment and easing concerns over geopolitical tensions.

Major gainers included banking and financial sector companies, which witnessed increased investor interest throughout the trading session. Buying was also seen in select energy, automobile and information technology stocks, contributing to the market’s upward momentum.

Market participants said positive cues from global equities and renewed foreign investor interest supported sentiment. Analysts noted that investors were encouraged by expectations of stable economic growth and resilient corporate earnings.

The broader market also ended in positive territory, with several mid-cap and small-cap stocks recording gains. Sectoral indices largely closed higher, reflecting widespread participation in the rally.

Trading remained upbeat through the day, with benchmark indices extending gains in the latter half of the session. The strong finish helped both Sensex and Nifty end significantly above their previous closing levels.

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Leaders

Pranav Adani announces scholarships, bicycles for IIM Calcutta

Indian Institute of Management Calcutta (IIM Calcutta) has announced a series of initiatives aimed at supporting students, encouraging entrepreneurship and improving campus facilities.

During a recent event at the institute, Pranav Adani announced scholarships for deserving students and the donation of 200 bicycles to improve mobility across the sprawling campus. The bicycles are intended to help students, faculty members and staff move more easily within the institute’s large premises while promoting environmentally friendly transportation.

Institute officials said the scholarship programme will provide financial assistance to students and help make quality management education more accessible. The support is expected to benefit students from diverse backgrounds and reduce financial barriers to higher education.

In another major development, IIM Calcutta has introduced a new policy designed to encourage entrepreneurship among its students. Under the initiative, MBA students who receive campus placement offers will be allowed to retain those offers while taking time to pursue their own start-up ventures.

The policy gives students an opportunity to explore entrepreneurial ideas without immediately giving up the security of a job offer. If their ventures do not progress as planned within the permitted period, eligible students may still be able to join the companies that recruited them through campus placements.

Institute leaders believe the move will foster innovation and encourage more graduates to consider entrepreneurship as a career path. The policy is also expected to strengthen ties between industry and academia by supporting students who want to create new businesses and generate employment opportunities.

Education experts say such measures reflect a growing trend among leading business schools to support entrepreneurship alongside traditional corporate careers. By combining financial aid, improved campus infrastructure and start-up incentives, IIM Calcutta aims to create a more supportive environment for students.

Also Read: Dr Reddy’s unveils first generic Bosulif cancer drug in US

Categories
Corporate

Dr Reddy’s unveils first generic Bosulif cancer drug in US

Dr. Reddy’s Laboratories has launched bosutinib tablets in the United States, becoming the first company to introduce a generic version of Pfizer’s cancer drug Bosulif. The launch marks another important milestone in the Indian drugmaker’s efforts to expand its presence in the oncology segment.

Bosutinib is used in the treatment of chronic myeloid leukemia (CML), a blood cancer that affects white blood cells and bone marrow. The medicine is prescribed for adults with newly diagnosed Philadelphia chromosome-positive CML as well as patients whose disease has not responded to earlier therapies.

The launch follows approval from the US Food and Drug Administration (USFDA) and covers multiple dosage strengths of the drug. By introducing a generic alternative, Dr. Reddy’s aims to improve access to treatment while offering a more affordable option for patients in the US.

The product presents a significant commercial opportunity for the company. According to market data, Bosulif generated sales of around $721 million in the US during the 12 months ended April 2026. As the first generic entrant, Dr. Reddy’s is expected to benefit from limited competition during the initial phase of the launch.

The development is in line with the company’s strategy of focusing on complex generics and specialty products in regulated markets. Oncology remains one of the fastest-growing segments for pharmaceutical companies, driven by increasing demand for advanced cancer treatments and affordable alternatives.

Industry experts believe the launch could strengthen Dr. Reddy’s position in the US market, which remains a major revenue contributor for Indian pharmaceutical companies. Generic launches in niche and high-value therapy areas are increasingly becoming a key growth driver for the sector.

The latest addition also expands Dr. Reddy’s oncology portfolio, which includes a range of products targeting various forms of cancer. The company has been steadily investing in research, development and regulatory approvals to enhance its presence in specialised treatment categories.

Also Read: Rupee climbs to 94.60 against US dollar

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Beyond

Rupee surges 58 paise to 94.60 against U.S. dollar

Rupee strengthened sharply by 58 paise to 94.60 against the US dollar in early trade on Monday, supported by a breakthrough peace agreement between the United States and Iran and a decline in global crude oil prices.

The domestic currency opened significantly stronger compared to its previous close of 95.18, as investors welcomed the easing of tensions in West Asia. Market participants said the peace deal reduced concerns over disruptions in global oil supplies, leading to a sharp fall in crude prices and improving sentiment toward emerging market currencies, including the rupee.

The agreement between the US and Iran includes the reopening of the Strait of Hormuz, a key route for global oil shipments. Following the announcement, Brent crude prices fell more than 4%, reaching their lowest levels in nearly three months. Lower oil prices are positive for India, which imports the majority of its crude oil requirements.

Currency traders said the rupee also benefited from a weaker US dollar and improved risk appetite among global investors. The dollar index slipped to a 10-day low as investors shifted towards riskier assets following the diplomatic breakthrough.

Analysts believe sustained lower oil prices could ease pressure on India’s current account deficit and inflation outlook, while also encouraging foreign capital inflows. Recent measures announced by the Reserve Bank of India to attract overseas funds have further supported sentiment in the currency market.

The positive developments also lifted Indian financial markets. Equity benchmarks Sensex and Nifty rallied strongly, while government bond yields declined as investors anticipated improved macroeconomic conditions.

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Corporate

Sensex surges 1,100 points, Nifty reclaims 24,000

Indian stock markets witnessed a strong rally on Monday, with the Sensex surging more than 1,100 points and the Nifty reclaiming the 24,000 mark after reports of a breakthrough peace agreement between the United States and Iran boosted global risk appetite and triggered a sharp fall in crude oil prices.

The positive global cues sparked broad-based buying across sectors, helping investors add several lakh crore rupees to their wealth in a single session. Market participants cheered the prospect of reduced geopolitical tensions in the Middle East, a development that could ensure smoother oil supplies and lower energy costs worldwide.

Among the top gainers were HDFC Bank, Larsen & Toubro, Reliance Industries, Adani Green Energy and InterGlobe Aviation (IndiGo). Banking stocks led the charge as lower crude prices improved the outlook for inflation and interest rates. Infrastructure and capital goods counters also attracted strong buying, while energy-intensive sectors benefited from expectations of lower input costs.

Reliance Industries gained on hopes that softer crude prices would support margins across several of its businesses. Aviation stocks, including IndiGo, rallied sharply as falling jet fuel prices are expected to reduce operating expenses.

On the other hand, some defensive and technology stocks underperformed the broader market. Infosys, Tata Consultancy Services (TCS) and ITC featured among the notable laggards as investors shifted money into cyclical sectors expected to benefit more directly from an improving global environment.

The rally was further supported by a strengthening rupee and easing bond yields, reflecting growing confidence among investors. Midcap and smallcap shares also joined the uptrend, indicating widespread participation in the market rebound.

Also Read: Retail inflation edges up to 3.93% in May

Categories
Beyond

Retail inflation edges up to 3.93% in May

India’s retail inflation accelerated to 3.93 per cent in May from 3.16 per cent in April, driven largely by an increase in food prices, according to official data released on Thursday.

The rise marks the first increase in consumer inflation in several months, although the figure remains below the Reserve Bank of India’s medium-term target of 4 per cent. The latest reading was also lower than market expectations of a sharper increase, offering some relief to policymakers and investors.

Food prices were the main contributor to the uptick, with inflation in key categories such as vegetables and other essential commodities showing signs of firming up after recent moderation. Economists said the trend reflects lingering supply-side pressures and seasonal factors affecting food costs.

Despite the increase, inflation remains well within the RBI’s comfort zone, supporting the central bank’s focus on boosting economic growth. Earlier this month, the RBI lowered interest rates and adopted a more growth-oriented policy stance amid easing inflationary pressures.

However, economists cautioned that risks remain. Rising global crude oil prices, weather-related disruptions and fluctuations in food supplies could exert upward pressure on prices in the coming months. The progress of the monsoon season will be closely watched, given its impact on agricultural output and food inflation.

For businesses and consumers, the data signals a relatively stable inflation environment, though concerns over input costs and commodity prices persist. Analysts said a sustained rise in food inflation could influence consumption patterns and affect household spending.

The latest inflation figures are unlikely to trigger an immediate shift in monetary policy, but they reinforce the need for continued monitoring of price trends. Markets will now look to upcoming economic data for clues on whether inflation remains contained or begins to move higher in the second half of the year.

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Beyond

FSSAI issues notices to KFC, Nestlé and Flipkart

India’s food safety regulator has issued notices to three major brands , KFC India, Nestlé India and Flipkart, following consumer complaints related to food hygiene and alleged pest contamination.

The action was taken by the Food Safety and Standards Authority of India after complaints were received through the National Consumer Helpline. The regulator said the notices were issued to seek responses from the companies regarding grievances raised by consumers.

According to reports, the complaints involved concerns about hygiene standards and the presence of foreign objects or pests in food products supplied or sold through the companies. While the exact details of individual complaints have not been publicly disclosed, the regulator has asked the firms to investigate the issues and provide explanations.

The move highlights growing scrutiny of food safety practices as authorities seek to strengthen consumer protection and improve confidence in food products and services. FSSAI regularly monitors complaints received through various channels and can seek clarification from companies when concerns are raised about product quality or safety.

The notices do not amount to a finding of wrongdoing. They are part of the regulator’s process of examining complaints and gathering information before deciding whether any further action is required. The companies concerned may respond with details of their internal investigations, quality-control procedures and corrective measures, if any.

Consumer complaints relating to food quality, packaging and contamination have increasingly come under the spotlight as online food delivery and e-commerce platforms expand their reach across the country. Regulators have stressed the importance of maintaining strict safety standards throughout the supply chain, from manufacturing and storage to delivery.

Also Read: Wikipedia rolls out history trivia game on iPhone

Categories
Technology

Wikipedia rolls out history trivia game on iPhone

Wikipedia has expanded its viral trivia game, “What Came First?”, to iPhone users, making the popular feature available through its iOS app.

The game tests players’ knowledge by asking them to determine which of two events happened earlier. Questions cover a wide range of topics, including history, science, technology, culture and sports, often producing surprising comparisons that challenge common assumptions.

Since its launch as an experimental feature, the game has gained popularity online for turning Wikipedia’s vast knowledge base into a fun and interactive experience. Users have shared scores and unusual matchups on social media, helping the game attract a wider audience.

Players can access the feature through the latest version of the Wikipedia app on iPhone. The gameplay is simple: users are shown two events and must decide which came first. Correct answers build a streak, while mistakes end the round.

The Wikimedia Foundation says the feature is part of broader efforts to encourage people to explore knowledge in new ways. By combining learning with gameplay, the organisation hopes to make information more engaging and accessible.

Unlike many mobile games, “What Came First?” is free to play and contains no advertisements or in-app purchases. The content is drawn from Wikipedia’s extensive collection of articles, allowing users to learn more about the topics featured in the game.

The iPhone rollout is expected to increase the game’s reach and introduce it to more casual users who may not regularly visit Wikipedia. It also reflects a growing trend among digital platforms to use interactive features to make educational content more appealing.

With its blend of trivia, history and discovery, “What Came First?” has become one of Wikipedia’s most successful experimental projects, offering users a new way to engage with facts while having fun.

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Categories
Leaders

Elon Musk becomes world’s first trillionaire

Elon Musk has become the world’s first trillionaire after a sharp rise in the valuation of SpaceX boosted his personal fortune beyond the $1 trillion milestone.

According to reports, Musk’s net worth crossed the trillion-dollar threshold following a secondary share sale that valued SpaceX at around $600 billion. The jump significantly increased the value of Musk’s stake in the private space company, which now accounts for a large portion of his wealth.

Musk, who is also the chief executive of Tesla and founder of several other ventures, has seen his fortune grow rapidly in recent years due to strong investor confidence in his companies. While Tesla remains a major contributor to his wealth, SpaceX’s soaring valuation has emerged as the key factor behind his latest milestone.

Founded in 2002, SpaceX has become one of the world’s leading space and satellite companies. Its achievements include reusable rocket technology, commercial satellite launches and the expansion of the Starlink satellite internet network. Investors have increasingly viewed the company as a dominant player in the future space economy, helping drive its valuation higher.

The milestone places Musk far ahead of other billionaires and marks the first time an individual’s estimated net worth has exceeded $1 trillion. Financial analysts note that such wealth estimates are largely tied to the market value of company holdings and can fluctuate significantly with changes in valuations and share prices.

Musk’s rise reflects the growing influence of technology and private space enterprises in global markets. Supporters point to SpaceX’s technological breakthroughs and commercial success as reasons for investor optimism, while critics highlight concerns over the concentration of wealth and corporate power.

Despite debates surrounding his business ventures and public profile, Musk’s trillionaire status represents a historic moment in global wealth creation. It underscores the increasing role of high-growth technology companies in shaping modern economies and generating unprecedented personal fortunes.

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Uncategorized

ADIA sells 2.3% stake in Lenskart for ₹1,960 cr

Abu Dhabi Investment Authority (ADIA) has reduced its stake in eyewear retailer Lenskart through a block deal worth ₹1,960 crore, attracting strong interest from both global and domestic institutional investors.

ADIA-backed Platinum Jasmine A 2018 Trust sold 4 crore shares, representing a 2.3% stake in Lenskart, at ₹490 per share. The transaction was executed through open market deals and was subscribed by 19 investors, reflecting continued confidence in the company’s growth prospects.

Among the major buyers were global financial institutions such as Morgan Stanley, Goldman Sachs, Societe Generale and Citigroup. Domestic investors including SBI Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mutual Fund, Mirae Asset Mutual Fund, National Pension System Trust and several insurance companies also participated in the transaction.

Kotak Mahindra Asset Management emerged as the largest buyer in the deal, purchasing around 1.27 crore shares worth approximately ₹626 crore. Institutional demand remained strong despite the large size of the transaction.

Following the stake sale, ADIA’s investment vehicle continues to hold a significant stake in Lenskart. The sale is seen as a partial profit-booking exercise rather than a complete exit from the company.

The transaction comes just days after technology investor SoftBank sold a portion of its holding in Lenskart through another large block deal. Market observers say these stake sales are linked to portfolio rebalancing by early investors following Lenskart’s stock market listing and the expiry of lock-in restrictions for some shareholders.

Investor participation in the latest deal highlights strong confidence in Lenskart’s business model and future growth potential. The company has expanded rapidly across India and overseas through a combination of physical stores and online sales, making it one of the country’s leading eyewear brands.

Shares of Lenskart remained largely stable after the transaction, indicating that the market comfortably absorbed the large sale. Analysts said the successful deal demonstrates sustained institutional interest in consumer-focused companies with strong growth prospects and scalable business models.

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