Author: Sreelatha M

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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

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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

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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

Categories
Beyond

June GST collections rises by 13.9%

India’s gross Goods and Services Tax (GST) collections rose to ₹1.94 lakh crore in June, registering a 13.9 per cent year-on-year growth, reflecting robust domestic demand, higher imports and continued improvement in tax compliance.

The increase was largely driven by healthy economic activity across sectors. GST revenue from domestic transactions recorded strong growth, indicating sustained consumer spending and business momentum. Meanwhile, GST collected on imports stood at ₹60,038 crore, highlighting the steady pace of overseas trade and its contribution to government revenues.

After adjusting for refunds, net GST collections also posted a healthy increase, underlining the resilience of the Indian economy despite an uncertain global environment. The latest figures suggest that consumption and business activity remained strong through June, providing another positive signal for economic growth.

The latest numbers are also expected to provide the government with greater fiscal room to continue investing in infrastructure, public services and development projects while maintaining fiscal discipline.

Economists said the consistent rise in GST collections reflects the expanding formal economy, better compliance by taxpayers and the growing use of digital systems such as e-invoicing and online tax filing. These reforms have improved transparency and helped strengthen revenue collections over the past few years.

Also Read: Gold at ₹1,44,850, Silver hits ₹2,24,930 today

Categories
Corporate

Sensex rises 444 Points, Nifty crosses 24,000

Markets ended higher on Wednesday, with the Sensex rising 444 points and the Nifty closing above the 24,000 mark, supported by strong buying in banking and auto stocks despite mixed global cues.

The BSE Sensex settled at a higher level after a volatile session, while the Nifty 50 managed to reclaim and hold above 24,000, reflecting steady investor confidence in select heavyweights. Market sentiment was largely driven by sector-specific movements, with banking and automobile shares leading the gains.

Among the top gainers, Kotak Mahindra Bank and Tata Motors stood out, attracting strong buying interest through the session. Financial stocks saw renewed momentum on expectations of stable credit growth, while auto stocks gained on optimism around demand and healthy sales trends.

Other supporting stocks included select IT and pharma counters, which helped lift the broader indices. Positive movement in these sectors helped offset weakness in metals and select energy stocks.

On the losing side, metal stocks remained under pressure, tracking weak global cues and concerns over demand outlook. Profit booking was also seen in some commodity-linked counters, which capped broader market gains during intraday trade.

Broader markets showed mixed performance, with mid-cap and small-cap indices moving in a narrow range as investors awaited further global and domestic triggers. Analysts said caution persisted due to volatility in crude oil prices and ongoing geopolitical uncertainties.

Global factors, including movements in US markets and oil price fluctuations, continued to influence investor sentiment. However, domestic fundamentals such as steady corporate earnings and sustained institutional inflows provided underlying support to the market.

Also Read: Shankh Mitra second in global CEO pay

Categories
Leaders

Shankh Mitra second in global CEO pay

Indian-origin business leader Shankh Mitra has been ranked as the world’s second highest-paid chief executive officer (CEO) in 2025, placing him just behind Tesla CEO Elon Musk, who continues to lead global executive compensation charts.

According to the latest global CEO pay rankings, Musk remains at the top due to his performance-linked compensation structure tied to Tesla’s long-term valuation and stock performance. Mitra, meanwhile, has secured the second position, reflecting strong financial results and shareholder returns delivered under his leadership.

Mitra serves as the Chief Executive Officer of Welltower Inc., a major healthcare real estate investment trust. His total compensation package includes salary, bonuses, stock awards and long-term incentive payouts, which together form one of the highest executive earnings globally.

The rankings highlight how CEO compensation is increasingly driven by performance metrics such as revenue growth, profitability and market capitalisation. In Mitra’s case, Welltower’s strong performance in healthcare infrastructure and senior housing investments has significantly contributed to his high pay package.

Industry analysts note that while Tesla CEO Elon Musk continues to dominate global compensation lists, most of his earnings are linked to long-term stock-based incentive plans rather than fixed salary. His position reflects both company performance and market valuation milestones achieved over time.

Mitra’s inclusion in the top ranks has drawn attention in India and among the global business community, as it adds to the growing list of Indian-origin leaders holding influential positions in multinational corporations. Over the years, executives of Indian origin have increasingly risen to senior roles across sectors such as technology, finance, healthcare and manufacturing.

Corporate governance experts say such large compensation packages are typically structured to align executive interests with shareholders, rewarding sustained growth and long-term value creation rather than short-term performance.

Welltower has benefited from rising global demand for healthcare infrastructure, particularly driven by ageing populations and increasing investment in senior care facilities. This growth has played a key role in boosting investor confidence and executive rewards.

With Elon Musk at the top and Shankh Mitra in second place, the latest rankings underscore the widening gap in global executive pay while also highlighting the rising influence of Indian-origin leadership in major international corporations.

Also Read: Kotak to expand with Deutsche acquisition

Categories
Corporate

Mahindra and Mahindra June sales surge 37%

Mahindra & Mahindra posted a strong sales performance in June, reporting its highest-ever SUV sales for the month as customer demand for utility vehicles continued to remain robust.

The company sold 60,393 SUVs in the domestic market during June, a 28 per cent increase over the same month last year. It also recorded total vehicle sales of 1,06,680 units, including exports, marking a 37 per cent year-on-year growth.

Mahindra attributed the impressive performance to sustained demand across its SUV portfolio, supported by new product launches, improved production capacity and efficient deliveries. Popular models such as the Scorpio, XUV700, Thar, Bolero and XUV 3XO continued to attract strong customer interest, helping the company achieve another monthly milestone.

The automaker said its Utility Vehicles segment remained the key growth driver, reflecting the increasing preference among Indian buyers for SUVs across urban and rural markets. The company has steadily expanded its presence in the segment by introducing feature-rich models catering to different price categories.

Commercial vehicle sales also contributed to the overall growth, while exports added to the company’s strong monthly performance. Mahindra said the sustained demand reflects growing consumer confidence despite challenging market conditions.

Company officials expressed satisfaction over the record June numbers, stating that the strong response from customers has been supported by improved supply chains and higher manufacturing capacity. The company said it remains focused on meeting demand while maintaining product quality and reducing waiting periods for customers.

Also Read: Shell sees Global LNG demand jump 65%

Categories
Beyond

NCLAT shields Jet Airways staff benefits

Former Jet Airways employees secured a major legal victory on Tuesday after the National Company Law Appellate Tribunal (NCLAT) dismissed an appeal by the State Bank of India (SBI) and upheld their right to receive provident fund (PF), gratuity and pension dues in full.

The tribunal ruled that retirement benefits such as provident fund, gratuity and pension cannot be treated as part of the airline’s assets available for distribution among creditors during insolvency or liquidation proceedings. These statutory dues belong to employees and must be paid in full, the tribunal observed.

SBI had challenged an earlier order directing payment of these benefits, arguing that such claims should be considered within the insolvency resolution process. However, the NCLAT rejected the plea, reaffirming that employee welfare benefits are protected under the Insolvency and Bankruptcy Code (IBC).

The verdict comes as a major relief for thousands of former Jet Airways employees who have been waiting for years to receive their retirement benefits after the airline suspended operations in 2019 and entered insolvency proceedings. Many have faced financial hardship while awaiting the outcome of the prolonged legal process.

Employee representatives welcomed the ruling, saying it restores hope to workers who have endured years of uncertainty. For many former employees, provident fund and gratuity are essential savings meant to provide financial security after retirement or during difficult times.

The tribunal also reaffirmed that statutory retirement benefits cannot be diverted to repay financial creditors. Legal experts believe the judgment could serve as an important precedent for similar insolvency cases involving employee claims in the future.

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