Author: Sreelatha M

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Corporate

Sensex gains over 300 points, Nifty tops 24,300

Markets opened the week on a strong note, extending their winning streak for the fourth consecutive session as positive domestic cues and sustained foreign fund inflows lifted investor sentiment. The BSE Sensex surged more than 300 points in early trade, while the NSE Nifty climbed above the 24,300 mark, driven by broad-based buying in heavyweight stocks.

Banking and financial shares led the rally, with HDFC Bank emerging as one of the biggest gainers after reporting robust business updates for the June quarter. Reliance Industries, Bajaj Finance, Axis Bank and ICICI Bank also traded higher, providing strong support to the benchmark indices. The gains in these heavyweight stocks helped offset weakness in a few sectors and kept the broader market firmly in positive territory.

On the other hand, Trent, Kotak Mahindra Bank, Titan Company, Asian Paints and Sun Pharma featured among the top losers during the morning session, witnessing profit booking after recent gains. Despite the decline in these counters, buying in banking and select large-cap stocks ensured the market remained comfortably in the green.

Investor confidence was boosted by the revival of the southwest monsoon after a brief slowdown. Improved rainfall has eased concerns over agricultural output and rural demand, strengthening expectations of healthy economic activity in the coming months. Adding to the positive mood, foreign institutional investors (FIIs) continued to remain net buyers, reflecting renewed confidence in Indian equities.

Market experts believe the combination of improving monsoon conditions, resilient domestic fundamentals and steady foreign investment flows is supporting the ongoing rally. Expectations of healthy corporate earnings and stable macroeconomic indicators have also encouraged investors to increase exposure to equities.

Also Read: PM Modi launches mega Rajasthan projects

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Beyond

Centre plans new Gold Scheme to cut imports

The Centre is preparing to roll out a revamped Gold Monetisation Scheme (GMS) in a fresh attempt to bring idle household gold into the formal financial system and reduce India’s dependence on costly imports.

India is one of the world’s largest consumers of gold, with households estimated to hold thousands of tonnes of the precious metal in the form of jewellery, coins and bars. Much of this gold remains unused, while the country continues to import large quantities every year, adding pressure on the trade deficit and foreign exchange reserves.

The proposed overhaul seeks to make the scheme more attractive for households by simplifying procedures and improving participation. The government is also exploring ways to strengthen the role of banks and other financial institutions in collecting, storing and monetising deposited gold.

Under the existing Gold Monetisation Scheme, individuals can deposit their gold with authorised institutions and earn returns instead of keeping it locked away at home. The deposited gold can then be refined and reused, reducing the need for fresh imports.

Officials believe the revised scheme could address some of the shortcomings of the earlier programme, which saw limited public participation despite its potential benefits. Complex procedures, lower awareness and concerns over parting with family jewellery were among the reasons many people stayed away.

The government hopes a simpler and more flexible framework will encourage more households to participate, helping mobilise idle gold while supporting domestic demand through recycled supplies.

A successful revamp could also benefit the economy by lowering import bills, improving resource utilisation and strengthening the country’s external finances. It is believed that wider participation would create a more sustainable gold ecosystem while giving households an opportunity to earn returns on assets that otherwise remain unused.

The revised scheme is expected to be announced soon, with policymakers aiming to strike a balance between preserving the emotional value of gold ownership and encouraging greater financial participation.

Also Read: Centre summons Meta over Instagram Ads

Categories
Technology

Amazon starts Prime Day sale

Amazon’s Prime Day Sale 2026 has gone live, offering exclusive discounts for Prime members across a wide range of products, including smartphones, laptops, smart TVs, home appliances and wearable devices. The annual shopping event is expected to attract millions of buyers looking to upgrade their gadgets at reduced prices.

One of the biggest highlights of this year’s sale is the steep price cut on premium smartphones. Flagship models, including Samsung’s Galaxy S25 Ultra, are available at significantly lower prices, with additional savings through bank offers, exchange bonuses and no-cost EMI options. Buyers can also find attractive deals on devices from Apple, OnePlus, Xiaomi and iQOO.

The sale also features discounts on laptops from leading brands such as HP, Lenovo, Dell and ASUS, making it a good opportunity for students and professionals planning to purchase a new computer. Gaming laptops and premium ultrabooks are among the products receiving notable price reductions.

Apart from personal gadgets, Amazon is offering deals on smart TVs, refrigerators, washing machines, air conditioners and kitchen appliances. Smart home devices, including Alexa-enabled speakers, security cameras and streaming gadgets, are also available at discounted prices.

Customers can maximise their savings through instant bank discounts, exchange offers and cashback benefits on eligible payment methods. Several products are also bundled with extended warranties and attractive financing options.

With limited-time offers and flash deals running throughout the event, shoppers are being encouraged to compare prices and purchase early before stocks run out.

Also Read: Gold at ₹1.46 lakh, Silver at ₹2.34 lakh

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Beyond

Gold at ₹1.46 lakh, Silver at ₹2.34 lakh

The sharp decline in gold and silver prices over the past month has caught the attention of investors looking for attractive entry points. While the correction has made precious metals more affordable, market watchers say the focus should remain on long-term investing rather than chasing short-term gains.

Gold is currently trading at ₹1,45,789 per 10 grams, while silver stands at ₹2,33,701 per kg on the Multi Commodity Exchange (MCX). Over the past month, gold prices have fallen 5.65%, slipping from ₹1,54,529 per 10 grams, while silver has dropped 10.78% from ₹2,61,939 per kg.

The decline comes after a strong rally earlier this year. Profit booking by investors, easing global tensions and changing expectations over interest rate cuts in the United States have all contributed to the recent correction in bullion prices.

Despite the fall, the broader outlook for gold remains encouraging. Strong demand from central banks, concerns over the global economy and expectations of easier monetary policy are expected to continue supporting prices over the long term.

Financial advisers believe the current dip should be seen as an opportunity to accumulate gradually instead of making large one-time investments. Buying in smaller quantities over a period of time can help investors manage market volatility while averaging their purchase cost.

Silver is expected to remain more volatile than gold because of its dual role as both an investment asset and an industrial metal. While it offers the potential for higher returns, it is also more vulnerable to sharp price movements. Investors are therefore advised to build exposure in phases rather than investing aggressively.

Also Read: ITC launches sugar-free cola

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Corporate

ITC launches sugar-free cola

ITC has stepped into India’s cola market with the launch of Sunfeast Sip N Fizz, a sugar-free carbonated drink made with tender coconut water. The launch marks the company’s entry into the fast-growing cola segment as it expands its beverages portfolio with healthier and premium offerings.

The new drink combines the familiar taste of cola with the goodness of tender coconut water, targeting consumers who want a refreshing beverage without added sugar. Priced at ₹60 for a 250-ml can, the product is being introduced through quick-commerce platforms before a wider rollout across the country.

With Sip N Fizz, ITC is entering a market dominated by global players Coca-Cola and PepsiCo, while also joining Indian brands that are looking to strengthen their presence in the soft drinks category. However, instead of competing on price, the company is focusing on innovation and premium positioning.

ITC says it plans to expand the Sip N Fizz range with more flavours, formats and pack sizes in the coming months as it looks to tap the growing demand for healthier beverages.

The launch is part of the company’s broader strategy to strengthen its FMCG business by introducing products that match changing consumer preferences. In recent years, ITC has expanded its beverage portfolio with fruit-based drinks, coconut water and protein beverages under brands such as Sunfeast and B Natural.

Also Read: DMart slides 5% as Q1 disappoints

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Beyond

OpenAI weighs 5% US government stake

OpenAI is reportedly exploring the possibility of offering the US government a 5% equity stake in the company, a move that could mark an unprecedented partnership between a leading artificial intelligence firm and the federal government.

According to reports, the proposal is still in its early stages and remains under discussion. OpenAI Chief Executive Sam Altman is said to have raised the idea during conversations with senior officials in the Trump administration as part of broader discussions on the future of artificial intelligence in the United States.

The proposal is aimed at ensuring that the economic benefits of AI are shared more widely as the technology transforms industries and creates enormous financial value. By giving the government an ownership stake, supporters believe ordinary Americans could indirectly benefit from the rapid growth of the country’s AI sector.

Reports suggest the idea could eventually extend beyond OpenAI, with other major US artificial intelligence companies also encouraged to contribute equity to a government-backed investment fund. Such a mechanism would allow the public to participate in the industry’s long-term success while strengthening America’s leadership in AI.

The discussions come as governments around the world are debating how best to regulate artificial intelligence while encouraging innovation. Policymakers are increasingly focused on issues such as national security, data privacy, job displacement and ensuring that AI-driven economic gains are distributed more broadly.

At OpenAI’s reported valuation of around $852 billion, a 5% stake would be worth more than $42 billion, making it one of the most valuable government holdings in a private technology company if the proposal were to materialise.

However, the discussions remain preliminary, and there is no indication that a formal agreement has been reached. Neither OpenAI nor the US government has officially confirmed the reports, and it remains unclear whether other AI companies would support a similar arrangement.

Also Read: AI now writes 40% code at Flipkart

Categories
Technology

AI now writes 40% code at Flipkart

Flipkart is rapidly expanding its use of artificial intelligence, with nearly 40% of the company’s software code now being generated by AI, according to its Chief Product and Technology Officer.

The company is also building its own large language models (LLMs) tailored specifically for e-commerce, signalling a major shift in how India’s leading online retailer plans to use AI to improve both customer experience and internal operations.

Speaking about Flipkart’s AI strategy, the company’s technology leadership said generative AI is no longer limited to experimentation but has become an integral part of software development. Engineers increasingly rely on AI-powered coding assistants to automate repetitive programming tasks, allowing them to spend more time solving complex technical problems and building new features.

The company clarified that AI is intended to assist developers rather than replace them. Human engineers continue to review, validate and refine AI-generated code before it is deployed, ensuring quality, security and reliability.

Beyond software development, Flipkart is investing heavily in proprietary AI models designed specifically for online commerce. Unlike general-purpose language models, these systems are trained to understand shopping behaviour, product catalogues, customer queries and seller operations. The goal is to deliver more personalised recommendations, improve product discovery, enhance customer support and streamline logistics.

According to the company, building in-house AI models also offers greater control over data, improves performance for India-specific use cases and reduces dependence on external AI platforms.

Flipkart believes artificial intelligence will play an increasingly important role across every stage of online retail, from inventory planning and demand forecasting to fraud detection and warehouse automation. The company is integrating AI into multiple business functions as it prepares for the next phase of digital commerce growth.

Also Read: Adani Enterprises raises QIP size to ₹15,000 cr

Categories
Beyond

E20 cuts mileage slightly, says Hardeep Singh Puri

Union Petroleum and Natural Gas Minister Hardeep Singh Puri has dismissed concerns over E20 petrol, saying the ethanol-blended fuel causes only a marginal reduction in vehicle mileage and remains a key part of India’s plan to improve energy security and reduce dependence on imported crude oil.

Responding to questions about the impact of E20 fuel on vehicles, Puri said the blend has undergone extensive testing and is safe for compatible engines. He added that ethanol-blended fuels are widely used across the world and even power high-performance racing vehicles, countering claims that E20 significantly affects engine performance or efficiency.

The minister acknowledged that motorists may notice a slight drop in mileage with E20 fuel, but stressed that the difference is minimal compared to the environmental and economic benefits of increasing ethanol use. India has been steadily raising ethanol blending levels to reduce crude oil imports, support sugarcane farmers and lower carbon emissions.

Puri also addressed growing public concern over petrol and diesel prices, which have remained unchanged despite a decline in international crude oil prices in recent weeks.

He explained that oil marketing companies are still refining crude purchased during the recent West Asia conflict, when global oil prices, freight charges and insurance costs were considerably higher. As a result, the benefit of lower international crude prices has not yet reached consumers at fuel stations.

According to the minister, state-run oil companies incurred significant losses during the April-June period as they continued supplying petrol, diesel and LPG while absorbing higher input costs. He indicated that any reduction in pump prices would depend on global crude remaining stable at lower levels for a sustained period.

India’s ethanol blending programme has accelerated in recent years, with the government promoting cleaner fuels and encouraging the adoption of flex-fuel vehicles. Officials believe the initiative will not only reduce the country’s import bill but also strengthen energy security in the long run.

Also Read: HCLTech secures $1.14 bn AI transformation deal

Categories
Corporate

HCLTech secures $1.14 bn AI transformation deal

HCLTech has signed a $1.14 billion (around ₹9,500 crore) artificial intelligence-led digital transformation deal with a Europe-based Fortune Global 50 company, marking one of the largest contracts in the company’s history and reinforcing its growing presence in the global AI services market.

The multi-year agreement will see HCLTech deliver advanced AI-powered solutions and digital transformation services to its client. While the company has not disclosed the customer’s identity because of confidentiality agreements, it said the partnership highlights increasing demand for large-scale AI adoption among global enterprises.

The announcement was well received by investors, sending HCLTech shares up nearly 6% in Friday’s trade. The stock emerged as one of the top gainers on the Sensex as market participants welcomed the deal, viewing it as a strong endorsement of the company’s artificial intelligence capabilities and long-term growth prospects.

The contract is expected to strengthen HCLTech’s revenue pipeline at a time when global technology companies are witnessing rising demand for AI-driven automation, cloud computing and data modernisation services. Businesses worldwide are increasingly investing in artificial intelligence to improve efficiency, reduce operational costs and enhance customer experience.

The announcement comes as Indian IT firms continue to adapt to changing market conditions. Although discretionary spending has remained under pressure in some sectors, demand for AI solutions has opened fresh opportunities for technology companies with strong digital capabilities.

HCLTech has been steadily expanding its AI portfolio through investments in generative AI, automation platforms and strategic partnerships. The latest contract further strengthens its position in the competitive global IT services industry, where companies are racing to secure large AI-focused transformation projects.

Also Read: Gold hits at ₹1.47 lakh, silver tops ₹2.36 lakh

Categories
Beyond

FSSAI sends notices to beverage firms

India’s food safety regulator has issued notices to six leading energy drink manufacturers over what it describes as misleading promotional claims made on product labels and in advertisements. The action is part of a wider effort by the Food Safety and Standards Authority of India (FSSAI) to ensure that companies do not exaggerate the health or performance benefits of their products.

Among the companies that received notices are Red Bull India, PepsiCo India, Campa Energy, Monster Energy, Celsius and Hell Energy. The regulator has asked the companies to explain claims suggesting that their drinks improve energy, boost physical performance or enhance mental alertness without adequate scientific evidence.

According to officials, the notices were issued after a review found that several marketing messages could mislead consumers into believing the products offer health or performance benefits beyond what has been scientifically established. FSSAI has directed the companies to justify these claims or modify them to comply with food safety and labelling regulations.

The move comes amid growing concern over the rising popularity of energy drinks, especially among teenagers and young adults. Health experts have repeatedly cautioned that many of these beverages contain high levels of caffeine and sugar, which may pose health risks if consumed excessively.

The regulator’s action is aimed at promoting greater transparency in food marketing and ensuring consumers receive accurate information before making purchasing decisions. Officials said food businesses are responsible for ensuring that product labels and advertisements are truthful, evidence-based and do not mislead the public.

The companies are expected to respond to the notices within the stipulated timeframe. Depending on their replies, FSSAI may direct changes to product packaging or promotional material and could initiate further regulatory action if violations are established.

Also Read: Wipro ADRs fall 17% on AI headwinds