Author: Sreelatha M

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OYO parent gets SEBI approval for ₹6,500 cr IPO

Oravel Stays Ltd, the parent company of hospitality and travel platform OYO, has received approval from the Securities and Exchange Board of India (SEBI) to launch its much-awaited initial public offering (IPO).

The company plans to raise around ₹6,500 crore through the public issue, marking a major step in its journey towards becoming a publicly listed company. The approval comes after multiple attempts by OYO to enter the stock market over the past few years.

According to reports, the IPO will include a fresh issue of shares as well as an offer-for-sale component. The funds raised are expected to be used for business expansion, debt reduction, technology investments and other corporate requirements.

Founded by entrepreneur Ritesh Agarwal in 2013, OYO has grown from a budget hotel aggregation platform into one of the world’s largest hospitality technology companies. The company operates hotels, homes and vacation rentals across several countries and has built a significant presence in India and international markets.

In recent years, OYO has focused on improving profitability, streamlining operations and strengthening its balance sheet. The company has reported better financial performance, supported by higher occupancy rates, stronger demand for travel and cost-control measures. These improvements are believed to have helped the company secure regulatory approval for its IPO plans.

The proposed public offering comes at a time when India’s primary market remains active, with investors showing interest in companies that have demonstrated a clear path to profitability. Market participants will closely watch OYO’s valuation, growth strategy and financial performance as details of the IPO emerge.

With SEBI’s approval now in hand, OYO is expected to move ahead with the next stages of the IPO process, including finalising issue details and launch timelines. The offering is likely to be among the most closely watched public issues in India’s startup ecosystem this year.

Also Read: Alphabet plans $80 bn fundraise to accelerate AI expansion

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Wholesale Price Index to replace Producer Price Index

In a major overhaul of India’s inflation measurement system, the government will begin rolling out a new Producer Price Index (PPI) framework from June 15, gradually replacing the Wholesale Price Index (WPI) over the next five years. The move is aimed at modernising the country’s pricing data system and aligning it with global best practices.

The Department for Promotion of Industry and Internal Trade (DPIIT) will release a revised WPI series with a new base year of 2022-23, replacing the current 2011-12 series. Alongside it, the government will introduce new Producer Price Indices, including the Output Producer Price Index (OPPI), Trial Input Producer Price Index (IPPI) and Service Producer Price Index (Service PPI).

Unlike the WPI, which primarily tracks the prices of goods at the wholesale level, the PPI will provide a more comprehensive view of producer-level inflation by covering output prices, input costs and selected services. Initially, the services index will cover sectors such as banking, insurance, securities transactions, pension fund management, railways, air passenger transport and telecommunications.

To ensure a smooth transition, both WPI and PPI will be published simultaneously for five years. The WPI will then be phased out, giving businesses and institutions adequate time to shift to the new system. The government noted that WPI remains widely used in contracts and price-escalation clauses, making a gradual transition necessary.

The revised WPI series will also feature an expanded basket of items, increasing coverage from 697 to 957 products. The update includes emerging sectors and newer economic activities, making the index more representative of the current economy.

Officials believe the new framework will help policymakers, businesses and economists better understand inflation trends across different stages of production. By tracking changes in production costs earlier in the supply chain, the PPI is expected to offer a more accurate picture of price pressures in the economy.

Also Read: HUL launches Unilever Fragrance Hub in Mumbai

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Corporate

Anthropic enhances cybersecurity portfolio with Mythos AI

Artificial intelligence company Anthropic has launched a new cybersecurity-focused AI model called Mythos, designed to help organisations strengthen their defences against increasingly sophisticated cyber threats.

The company said Mythos has been developed specifically for cybersecurity applications and is capable of assisting security teams with threat detection, vulnerability analysis, incident response and risk assessment. The model is expected to help organisations identify potential cyberattacks more quickly and improve their ability to respond to security incidents.

According to Anthropic, Mythos is designed to understand complex cybersecurity data and provide actionable insights to analysts and security professionals. By automating time-consuming tasks and analysing large volumes of information, the AI model aims to reduce the workload on cybersecurity teams while improving operational efficiency.

The launch comes at a time when cyberattacks are becoming more frequent and complex across industries worldwide. Organisations are increasingly turning to artificial intelligence to strengthen their security infrastructure and keep pace with evolving digital threats. Anthropic believes specialised AI systems such as Mythos can play a crucial role in helping enterprises manage growing cybersecurity challenges.

One of the key features of the model is its ability to assist in identifying vulnerabilities and suspicious activities across networks and digital systems. It can also help security teams prioritise risks, investigate incidents and support decision-making during cyber emergencies.

India is among the countries that will gain access to the new AI model. The launch also highlights the growing competition among AI companies to develop specialised models for enterprise use cases.

While many AI systems focus on general-purpose applications, firms are increasingly building domain-specific models tailored to industries such as healthcare, finance and cybersecurity.

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US sanctions Iran’s largest Crypto exchange Nobitex

The United States has imposed sanctions on Nobitex, Iran’s largest cryptocurrency exchange, accusing it of helping the Iranian government and affiliated groups evade international sanctions through digital asset transactions.

The US Treasury Department said Nobitex played a key role in facilitating financial activities linked to Iran’s military and security institutions, including the Islamic Revolutionary Guard Corps (IRGC). According to US officials, the platform was allegedly used to move funds and provide access to the global financial system despite restrictions imposed on Tehran.

Along with Nobitex, sanctions were also imposed on several associated entities and individuals accused of supporting the exchange’s operations. The measures freeze any US-based assets linked to the sanctioned parties and prohibit American individuals and companies from conducting business with them.

US authorities claim that Nobitex has become a major gateway for cryptocurrency transactions in Iran and has processed billions of dollars in digital asset trades. Officials argue that such platforms can be used to bypass traditional banking restrictions and help sanctioned organisations move money across borders.

Iran has not immediately responded to the latest sanctions. However, Tehran has repeatedly criticised US sanctions policies, arguing that they unfairly target the country’s economy and financial system.

The action is part of Washington’s broader effort to curb what it describes as Iran’s use of alternative financial networks to support activities that threaten regional stability. US officials have increasingly focused on cryptocurrency platforms, warning that digital assets can be exploited for sanctions evasion, money laundering and illicit financing.

The sanctions come amid continuing tensions between the United States and Iran over regional security issues, nuclear concerns and economic restrictions. Analysts say the move could further complicate Iran’s access to international financial markets and increase scrutiny of cryptocurrency transactions connected to the country.

For the global crypto industry, the development highlights growing regulatory attention on digital asset exchanges and their compliance obligations. It also underscores how cryptocurrencies have become an important arena in geopolitical and economic disputes, particularly in countries facing international sanctions.

The latest measures signal that the US intends to maintain pressure on financial networks it believes help sanctioned entities operate outside the traditional banking system.

Also Read: Godrej enters wealth management business

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Corporate

Godrej enters wealth management business

Godrej Industries has announced its entry into the wealth management business, marking a significant expansion of the group’s presence in financial services. The company has set an ambitious goal of managing assets worth ₹1 lakh crore over the next five years, reflecting its confidence in the growing demand for professional wealth advisory services in India.

The newly launched venture will cater primarily to high-net-worth individuals (HNIs), ultra-high-net-worth individuals (UHNIs), family offices and institutional investors. It will offer a range of services, including investment planning, portfolio management, estate planning and wealth preservation strategies.

The move comes at a time when India’s wealth creation story is gathering pace. Rising incomes, a booming startup ecosystem, increasing participation in financial markets and a growing number of wealthy individuals have created strong demand for personalised financial advice and investment solutions.

Godrej Industries believes its trusted brand name and long-standing reputation will help it build a strong position in the competitive wealth management sector. The company plans to combine technology-driven investment tools with personalised advisory services to provide tailored solutions for clients.

A dedicated team of experienced professionals will lead the business, focusing on long-term wealth creation and helping clients navigate increasingly complex financial markets. The company expects demand for sophisticated wealth management services to grow steadily as more Indians seek professional guidance to manage and preserve their wealth.

For Godrej Industries, the new venture represents more than just business diversification. It signals the group’s intent to participate in India’s evolving financial landscape and tap into a market that is expected to expand significantly in the coming years.

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Corporate

Adani eyes AI growth with green data centres

Adani Group is accelerating its push into data centres and digital infrastructure, positioning itself to play a key role in India’s growing artificial intelligence (AI) ecosystem. Group Chairman Gautam Adani said the conglomerate is now focused on building assets at scale, with investments spanning renewable energy, data centres, transmission networks and other infrastructure sectors.

Speaking about the group’s strategy, Adani said the focus is on creating long-term infrastructure platforms capable of supporting India’s rapid economic and technological growth. He noted that the next phase of development will be driven by large-scale investments in areas that are critical to the country’s future, including AI-powered digital infrastructure.

A major part of this strategy involves the development of green data centres powered by renewable energy. As AI adoption expands, demand for computing power and data storage is expected to rise significantly. Data centres, which form the backbone of digital services and AI applications, require vast amounts of electricity to operate. The Adani Group aims to meet this demand through clean energy sources, combining its strengths in renewable power generation with digital infrastructure development.

It is believed India’s AI ambitions will require massive investments in data processing capacity, cloud infrastructure and reliable power supply. The Adani Group sees an opportunity to create integrated facilities that combine renewable energy generation, transmission infrastructure and advanced data centre operations.

Gautam Adani said the group’s objective is not merely to participate in emerging sectors but to build infrastructure at a scale that can support national growth for decades. He highlighted that India’s digital economy is expanding rapidly and will require robust infrastructure to meet future demand.

The company has already made substantial investments in solar and wind energy projects and is among the country’s largest renewable energy developers. By linking these capabilities with data centre infrastructure, the group hopes to offer sustainable solutions for technology companies, cloud providers and AI-focused businesses.

Also Read: Manufacturing growth sees 3-month high in India

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Corporate

Sensex rises to 380 points, Nifty tops 23,450

Indian equity benchmarks staged a strong comeback on Tuesday, snapping a four-session losing streak as the BSE Sensex closed 383 points higher and the NSE Nifty ended above the 23,450 mark.

IT stocks emerged as the biggest gainers of the day. HCL Technologies, Tech Mahindra, Infosys and Wipro witnessed strong buying interest as investors remained optimistic about demand for artificial intelligence-related services and a gradual improvement in global technology spending. The Nifty IT index surged nearly 4%, making it the best-performing sectoral index.

Despite the broader market recovery, some sectors remained under pressure. Pharmaceutical stocks such as Sun Pharma, Dr Reddy’s Laboratories and Cipla were among the top losers. Reliance Industries, Indraprastha Gas and Bharat Petroleum Corporation also ended lower, weighing on the oil and gas segment.

Investors continued to track developments related to US-Iran negotiations and the broader geopolitical situation in West Asia. Elevated crude oil prices remain a concern for markets because of their potential impact on inflation and India’s import bill. However, hopes of diplomatic progress helped improve risk appetite during the session.

Foreign investors remained net sellers, though domestic institutional buying provided support to the market. Analysts said the sharp rebound from intraday lows indicates resilience in investor sentiment despite global uncertainties.

Also Read: Google DeepMind CEO questions AI-led layoffs

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Beyond

Manufacturing growth sees 3-month high in India

India’s manufacturing sector expanded at its fastest pace in three months in May, driven by strong domestic demand, increased infrastructure activity and a steady rise in new business orders, according to the latest HSBC India Manufacturing Purchasing Managers’ Index (PMI) survey compiled by S&P Global. The PMI rose to 55.0 in May from 54.7 in April, signalling a stronger improvement in business conditions across the sector. A PMI reading above 50 indicates expansion.

The survey showed that manufacturers recorded faster growth in output and new orders during the month, supported largely by robust demand from the domestic market. Companies reported healthy sales across several industries, particularly in intermediate and capital goods segments, aided by ongoing infrastructure projects and new business opportunities.

Production levels increased at the quickest pace since February, encouraging firms to raise purchasing activity and build inventories. Businesses also increased stockpiling of raw materials and intermediate goods as a precaution against potential supply disruptions linked to geopolitical tensions in the Middle East. Pre-production inventories rose to a three-month high, while finished goods inventories climbed significantly.

Despite the strong growth, manufacturers faced rising input costs. Survey participants reported sharp increases in expenses related to energy, fuel, transportation and raw materials. Cost pressures were among the strongest seen in nearly four years, largely due to higher commodity prices and global supply concerns. However, many firms chose to absorb part of these costs rather than fully pass them on to customers, helping to keep output price inflation relatively moderate.

The report also noted that employment continued to grow, although at a slower pace compared with previous months. Meanwhile, business confidence remained positive but eased to its lowest level since February as companies expressed caution over global uncertainties and rising costs.

Also Read: ED searches Vedanta premises in FEMA case

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Corporate

Sensex drops over 100 points, Nifty slips below 23,350

Indian stock markets opened low on Tuesday as the BSE Sensex fell more than 100 points during intraday trade, while the NSE Nifty slipped below the 23,350 mark.

Among the Sensex gainers were Infosys, Tata Consultancy Services (TCS), HCL Technologies, Tech Mahindra and Wipro, supported by buying in IT stocks. On the losing side, Larsen & Toubro, Axis Bank, State Bank of India, Mahindra & Mahindra and NTPC were among the major laggards. Markets opened sharply lower, with the Sensex initially dropping over 400 points and the Nifty falling below 23,250 before recovering some losses later in the session. Gains in information technology (IT) stocks helped reduce the overall decline.

Investor sentiment remained weak due to uncertainty surrounding US-Iran peace negotiations and ongoing tensions in the region. Global markets are closely monitoring developments, as any escalation could disrupt energy supplies and impact global economic growth.

Crude oil prices remained elevated near $95 per barrel, raising concerns about inflation and increasing India’s import costs. Analysts said markets are likely to remain range-bound with a negative bias until there is greater clarity on geopolitical developments and oil prices show signs of stabilising.

Foreign investors continued to withdraw money from Indian equities, adding pressure on benchmark indices. Persistent FII selling has been a major factor behind the recent weakness in the market. Market data shows that Indian equities have seen significant foreign outflows this year amid global uncertainty and risk-averse investor sentiment.

Market experts expect volatility to continue in the near term as investors keep a close watch on crude oil prices, foreign fund flows and developments in the Middle East. The Reserve Bank of India’s upcoming monetary policy decision is also likely to influence market sentiment and determine the direction of trading in the coming days.

Also Read: RBI likely to hold rates in policy review

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Corporate

Asian Paints gains 4% after Q4 results

Asian Paints shares rose by 4-5 per cent after the company reported stronger-than-expected fourth-quarter results, prompting several brokerages to maintain positive views on the stock and project significant upside potential.

The paint maker’s earnings performance was better than market expectations, supported by improved margins and stable operational performance. Investors responded positively to the results, pushing the stock higher in early trade.

Brokerages said the company delivered a stronger quarter despite a challenging demand environment and competitive pressure in the paints sector. Analysts noted that improving profitability and expectations of a gradual recovery in demand supported investor sentiment.

Several firms retained positive ratings on Asian Paints and highlighted the possibility of further gains in the stock. Some brokerages projected upside potential of up to 34 per cent from current levels, citing the company’s strong market leadership, brand strength and long-term growth prospects.

However, analysts remained divided on the near-term outlook. While some believe demand could improve gradually with better economic activity and housing-related spending, others cautioned that competitive intensity in the paints market may continue to put pressure on growth and pricing.

The company has been facing increased competition following the entry and expansion of new players in the sector. Despite this, brokerages said Asian Paints continues to benefit from its extensive distribution network, strong customer recall and dominant market position.

Investors appeared encouraged by management’s outlook and expectations that demand conditions may strengthen over time. The stock’s rise reflected confidence that Asian Paints can maintain its leadership position even as the industry becomes more competitive.

While opinions differ on the pace of recovery, most brokerages agree that Asian Paints remains one of the key players in the sector. The positive reaction in the stock market suggests investors are focusing on the company’s earnings resilience and future growth potential rather than short-term industry challenges.

Market experts also pointed to signs of margin improvement, helped by easing input costs and operational efficiencies. They said sustained improvement in profitability could support earnings growth in the coming quarters.

The strong move in the share price underlined renewed optimism around the company’s outlook following its quarterly earnings announcement.

Also Read: IndiGo shares jump 5% despite Q4 loss