Author: Sreelatha M

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Bata India names Sanjay Rao as new CEO

Bata India has appointed Sanjay Rao as its new Managing Director and Chief Executive Officer, marking a significant leadership transition at one of the country’s most recognised footwear companies.

Rao will take over the role from Gunjan Shah, who led Bata India through a period of business transformation and expansion. The appointment comes as the company seeks to strengthen its market position and accelerate growth in an increasingly competitive retail environment.

A seasoned business leader, Rao brings extensive experience in consumer-facing industries and retail operations. He has held leadership roles across multiple sectors and is expected to focus on driving growth, enhancing customer experience and expanding Bata’s presence across both physical and digital channels.

The company said the appointment reflects its commitment to building on recent progress while preparing for future opportunities in India’s evolving footwear and lifestyle market. Bata has been investing in product innovation, store modernisation and digital initiatives to cater to changing consumer preferences.

For employees and stakeholders, the leadership change represents the beginning of a new chapter. Industry analysts believe Rao’s experience in brand building and business strategy could help the company navigate shifting consumer trends and strengthen its position in key market segments.

The Indian footwear market has witnessed rapid growth in recent years, driven by rising incomes, urbanisation and increasing demand for branded products. Companies are also investing heavily in digital commerce as consumers increasingly shop online.

Bata India remains one of the largest footwear retailers in the country, serving millions of customers through an extensive network of stores and online platforms. The company has been focusing on premiumisation, expanding its product portfolio and improving customer engagement as competition intensifies.

Also Read: Adobe adds AI assistants across creative cloud apps

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Technology

Adobe adds AI assistants across creative cloud apps

Adobe has unveiled a major expansion of its artificial intelligence capabilities, bringing AI-powered assistants to several of its flagship Creative Cloud applications, including Photoshop, Premiere Pro, Illustrator and InDesign.

The company announced that the new AI assistants, powered by Adobe’s Firefly technology, are designed to help users complete creative tasks faster and more efficiently. The move reflects Adobe’s growing focus on integrating generative AI directly into the tools used daily by designers, photographers, video editors and content creators.

Unlike traditional software features, the AI assistants can understand natural language instructions and help users navigate complex workflows. Instead of manually searching through menus or learning advanced tools, creators can simply describe what they want to achieve, and the assistant will guide them through the process or perform tasks automatically.

In Photoshop, users can receive editing suggestions, locate tools quickly and streamline image creation. Premiere Pro’s AI assistant can help with video editing tasks, making it easier to organise footage, apply effects and speed up production workflows. Similar capabilities are being introduced in Illustrator and InDesign to support graphic design and publishing tasks.

Adobe says the goal is not to replace human creativity but to reduce repetitive work and allow creators to spend more time on ideas and storytelling. The company believes AI can act as a creative partner, helping professionals and beginners alike work more effectively.

The latest rollout comes as competition intensifies in the AI-powered creative software market. Technology companies and startups are racing to build tools that can generate images, videos and design elements with minimal user input. Adobe is positioning its AI strategy around assisting creators while maintaining professional control over the final output.

For many users, the new assistants could significantly lower the learning curve associated with advanced creative software. Beginners may find it easier to use professional-grade tools, while experienced creators can automate routine tasks and focus on higher-value creative work.

The features are currently being introduced through beta programmes and phased rollouts. As AI becomes more deeply embedded in creative software, Adobe’s latest announcement signals a future where designers and AI assistants increasingly work side by side to bring ideas to life.

Also Read: Reliance AGM begins today, investors eye key updates

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Leaders

Google Gemini leader Noam Shazeer joins OpenAI team

In a significant development in the artificial intelligence industry, Noam Shazeer, one of the key architects behind Google’s Gemini AI models, has announced that he is leaving Google to join OpenAI, the company behind ChatGPT. The move is being viewed as one of the most prominent talent shifts in the ongoing AI race.

Shazeer served as Vice President of Engineering at Google and co-led the Gemini project, which forms the backbone of Google’s generative AI strategy. He confirmed the decision in a social media post, describing it as a “difficult decision” and expressing pride in the work accomplished with Google’s AI teams.

A respected figure in the AI community, Shazeer is best known as one of the co-authors of the groundbreaking 2017 research paper “Attention Is All You Need.” The paper introduced the Transformer architecture, which became the foundation for modern AI models, including ChatGPT, Gemini and many other large language models.

His career has included more than two decades at Google, a stint as co-founder of Character.AI and a return to Google in 2024 after the company struck a multi-billion-dollar licensing deal with the startup. Less than two years later, he is once again moving on, this time to OpenAI.

OpenAI CEO Sam Altman welcomed the move, saying he had wanted to work with Shazeer for nearly a decade. Industry observers believe the appointment could strengthen OpenAI’s research and product development efforts as competition intensifies among leading AI companies.

The departure is also a setback for Google, which has invested heavily in Gemini to compete with OpenAI. Analysts say the move highlights the intense battle for top AI talent, with companies offering massive compensation packages and leadership roles to attract leading researchers.

As the AI industry continues to evolve rapidly, Shazeer’s transition is expected to have implications far beyond the two companies, reinforcing how crucial elite researchers have become in shaping the future of artificial intelligence.

Also Read: India secures key gains in landmark UK trade deal

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1 Minute-Read

Vehant debuts India’s first AI body screening system

Vehant Technologies has launched MilliView, India’s first indigenously developed millimetre-wave (mmWave) body scanner, marking a major milestone in the country’s security technology sector. Developed in collaboration with IIT Delhi, the AI-powered scanner can identify both metallic and non-metallic threats, including explosives, detonators, gels and concealed weapons, in less than five seconds.

The system uses safe, non-ionising radiation and presents scan results through a gender-neutral avatar, helping protect individual privacy. Designed for deployment at airports, government buildings and other high-security facilities, MilliView aims to strengthen security screening while reducing dependence on imported technologies. The launch also supports the government’s Make in India initiative by promoting homegrown innovation in advanced security solutions.

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Beyond

RBI settles Apollo FEMA case after ₹17.76 cr payment

Apollo Hospitals has received relief from the Reserve Bank of India (RBI) after the central bank settled alleged violations under the Foreign Exchange Management Act (FEMA) through a compounding process.

The RBI accepted a payment of ₹17.76 crore from Apollo Hospitals and certain directors to resolve the matter, bringing an end to a long-running regulatory issue related to foreign exchange transactions. Compounding is a mechanism that allows entities to settle FEMA violations by paying a monetary amount without undergoing prolonged legal proceedings.

The case was linked to alleged contraventions involving overseas investments and related transactions. Following the settlement, the Enforcement Directorate’s earlier proceedings connected to the matter are expected to lose significance, providing a major relief to the healthcare company and its management.

Apollo Hospitals informed stock exchanges that the RBI’s compounding order does not amount to an admission of guilt. The company stated that the settlement was made to resolve the issue and ensure regulatory compliance going forward.

The development removes a key overhang that had been hanging over the company for several years. Market participants generally view the resolution positively, as it reduces uncertainty and allows management to focus on business operations and expansion plans.

Founded by Dr. Prathap C. Reddy, Apollo Hospitals is one of India’s largest healthcare providers, with a network of hospitals, pharmacies and diagnostic centres across the country. The group has played a significant role in expanding private healthcare services in India.

Legal and regulatory experts noted that compounding provisions under FEMA are designed to encourage voluntary compliance and provide a quicker resolution mechanism for procedural and technical violations. Such settlements help avoid lengthy litigation while ensuring adherence to foreign exchange regulations.

For investors, the RBI’s decision brings clarity on a matter that had remained unresolved for years. Analysts said the settlement strengthens visibility around the company’s regulatory position and removes a potential distraction for management.

With the issue now settled, Apollo Hospitals is expected to continue focusing on healthcare delivery, digital health initiatives and capacity expansion, while maintaining compliance with evolving regulatory requirements.

Also Read: Chennai hospital unveils advanced heart rhythm technology

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Beyond

Gold slips to ₹1.51 lakh, silver at ₹2.64 lakh

Gold prices slipped marginally on Thursday, June 18, offering some respite to jewellery buyers after recent gains, while silver extended its losses amid weak global cues and cautious investor sentiment.

According to the latest market rates, 24-carat gold was priced at around ₹1,51,900 per 10 grams, while 22-carat gold traded near ₹1,39,150 per 10 grams. Silver was quoted at approximately ₹2,64,900 per kilogram in major retail markets across the country.

In Delhi, 24-carat gold was available at around ₹1,52,050 per 10 grams, while prices in Mumbai hovered near ₹1,52,200. Similar rates were reported in Kolkata, Chennai and Bengaluru, reflecting a broadly stable trend across key cities.

The decline in bullion prices comes as investors react to the US Federal Reserve’s latest policy stance. The central bank indicated that inflation risks remain and another interest rate hike could still be on the table later this year. Higher interest rates generally reduce the attractiveness of non-yielding assets such as gold and silver, leading some investors to shift funds elsewhere.

Silver witnessed a sharper correction than gold, with traders reporting continued selling pressure in commodity markets. Analysts said silver remains more volatile because it is influenced not only by investment demand but also by industrial consumption trends.

Despite the slight fall in prices, jewellers said customer enquiries remain steady. Many consumers are closely tracking market movements, hoping for further corrections before making purchases for weddings, festivals and long-term investments.

Market experts believe gold continues to enjoy support from global uncertainties, including geopolitical developments and concerns over economic growth. However, expectations of tighter monetary policy in the United States are limiting any major upside in prices.

Globally, precious metals also faced pressure as investors assessed the outlook for interest rates and inflation. At the same time, easing crude oil prices and reduced geopolitical tensions helped prevent a sharper decline in gold.

For now, bullion markets are expected to remain sensitive to global economic data, central bank decisions and currency movements.

Also Read: Sensex down 100 points, Nifty slips below 24,050

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Corporate

Yum Brands sells Pizza Hut in $2.7bn deal

Pizza Hut is set for a major ownership change after Yum Brands agreed to sell the iconic restaurant chain to private equity firm LongRange Capital in a deal valued at approximately $2.7 billion.

The transaction marks one of the biggest developments in the global restaurant industry this year and signals Yum Brands’ efforts to sharpen its focus on its broader portfolio of fast-food businesses. Despite the sale, Pizza Hut will continue to operate under its well-known brand name and maintain its presence across international markets.

Founded in 1958, Pizza Hut has grown into one of the world’s largest pizza chains, with thousands of outlets spanning dozens of countries. However, like many traditional restaurant brands, it has faced increasing competition from delivery-focused rivals and changing consumer preferences in recent years.

LongRange Capital said it sees significant opportunities to strengthen the business through investments in technology, digital ordering, customer experience and restaurant operations. The private equity firm plans to work closely with management to support the brand’s next phase of growth.

Industry analysts view the acquisition as a vote of confidence in Pizza Hut’s long-term potential despite challenges facing the broader restaurant sector. The brand continues to enjoy strong global recognition and maintains a large customer base across both developed and emerging markets.

The deal also reflects growing investor interest in established consumer brands with opportunities for operational improvement and expansion. Private equity firms have increasingly targeted restaurant chains that can benefit from digital transformation and evolving consumer trends.

Yum Brands, which also owns KFC and Taco Bell, said the transaction aligns with its strategic priorities and will allow the company to focus resources on areas where it sees the greatest growth potential. The company emphasized that Pizza Hut remains a strong and valuable brand with considerable opportunities ahead.

The acquisition is expected to be completed after receiving the necessary regulatory approvals and meeting customary closing conditions.

Also Read: SpaceX valuation jumps $10bn as investors back future

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Corporate

SpaceX valuation jumps $10bn as investors back future

SpaceX has disclosed that it raised nearly $10 billion more through private funding rounds than previously reported, highlighting the scale of investor confidence in Elon Musk’s space and satellite ventures.

According to newly released financial details, the company has secured substantially higher funding over the years than earlier estimates suggested. The revelation comes as SpaceX’s valuation continues to soar, cementing its position as the world’s most valuable private technology company.

The additional capital has helped fund the rapid expansion of Starlink, SpaceX’s satellite internet business, which now serves millions of customers worldwide. Starlink has become a major source of revenue for the company and is seen as a key factor behind its growing valuation.

A significant portion of the funding is also supporting the development of Starship, SpaceX’s next-generation rocket designed for missions to the Moon, Mars and beyond. Musk has repeatedly described Starship as central to his long-term goal of making humanity a multi-planetary species.

The latest figures underscore how strongly investors are backing the future of the space industry despite economic uncertainty and market volatility. Analysts say SpaceX’s combination of satellite communications, launch services and deep-space ambitions makes it one of the most closely watched companies in the technology sector.

While the company remains privately held, its rising valuation and massive fundraising efforts continue to fuel speculation about a potential public listing in the future. Industry experts believe SpaceX’s ability to attract billions of dollars in fresh capital reflects growing confidence that space technology will play an increasingly important role in the global economy.

Investors remain attracted by SpaceX’s dominance in the commercial launch market. The company conducts frequent missions using its reusable Falcon rockets and continues to win contracts from governments, businesses and space agencies around the world.

Also Read: Vedanta, Hindalco, NALCO shares tumble after aluminium slide

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1 Minute-Read

Vedanta, Hindalco, NALCO shares tumble after aluminium slide

Shares of major aluminium producers fell sharply on Wednesday after global aluminium prices declined following reports of a US-Iran peace agreement. Vedanta, Hindalco and NALCO dropped up to 5–6% as investors reacted to expectations of improved metal supplies and lower geopolitical risks.

The proposed deal is expected to reduce tensions in the Middle East and could eventually ease concerns over energy and raw material disruptions, factors that had supported aluminium prices in recent months. Analysts said weaker aluminium prices may impact profitability for producers, prompting selling pressure in metal stocks despite broader market strength.

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Beyond

Zerodha, Groww get nod to offer US stocks

Investing in leading US companies could soon become much easier for Indian retail investors. Major brokerage platforms Zerodha, Groww, Angel One and Upstox have received regulatory approval to offer international investing services through Gujarat’s GIFT City, paving the way for direct access to US stocks and global markets.

The approvals have been granted by the International Financial Services Centres Authority (IFSCA), the regulator overseeing GIFT City. The move is being seen as a significant step towards making global investing more accessible to Indian investors who are increasingly looking beyond domestic markets for diversification and growth opportunities.

According to reports, the new services are expected to be rolled out over the next two to three months after the brokerages complete technology integration, testing and compliance requirements.

Under the proposed framework, Zerodha and Upstox will operate as broker-dealers, while Groww and Angel One will function under the Global Access Provider (GAP) model introduced by GIFT City to facilitate overseas investments. The structure is designed to offer a regulated and cost-effective route for Indians to invest in international equities.

Demand for overseas investing has grown rapidly in recent years as Indian investors seek exposure to global themes such as artificial intelligence, semiconductors, electric vehicles and space technology. Interest has further increased following the listing of high-profile technology companies and growing enthusiasm for AI-driven investments.

Several platforms, including INDmoney, Smallcase and HDFC Securities, already offer access to international markets. However, the entry of India’s largest retail brokerages is expected to significantly expand participation and bring global investing to a much wider audience.

Also Read: Grasim, Lubrizol open CPVC resin plant in Gujarat