Author: Sreelatha M

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Leaders

Bengaluru startup founder’s US visa rejected in Delhi

A Bengaluru-based startup founder has raised concerns about the US visa process after his application was unexpectedly rejected in Delhi, despite a clear business purpose and strong international ties.

Dhananjay Yadav, co-founder of NeoSapien, appeared for his visa interview at the US Embassy in Delhi on February 3, 2026. He planned to travel to the United States to meet investors and explore business partnerships, as part of his startup’s expansion strategy. Yadav had been invited by Hari Valiyath, a friend and investor, who co-founded the US-based company Pyxis, which has raised over $200 million in funding. The entire trip was to be funded by the company.

Yadav emphasized that he has previously studied in the United States and worked in Berlin, showing that he has strong international experience and a history of returning after foreign travel. However, during the visa interview, the consular officer focused on his personal salary rather than the purpose of the trip or his company’s financial backing. As is common for startup founders, Yadav draws only a minimal salary, since earnings are reinvested into the business. Shortly after, his visa was denied.

The incident has sparked discussions on social media, where many startup founders shared similar frustrations. Users pointed out that visa interviews can be unpredictable and subjective, with decisions sometimes depending more on the officer’s judgment than on documentation or travel purpose. Some noted that low personal income among early-stage startup founders can be misinterpreted as a risk, even when the trip is fully funded by the company and tied to strategic business goals.

Experts and social media users suggested that applicants in similar situations could strengthen their case by providing additional proof of financial stability, highlighting company backing, or considering other consulates. The incident has also led to broader debates about how US visa protocols assess business travelers, particularly founders whose personal earnings may not reflect their startup’s potential or value.

Also Read: Trent Q3 profit rises to ₹217 cr, revenue up 15%

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Beyond

Gold at ₹1,59,450, Silver trades above ₹3.20 lakh

Gold and silver prices in India showed marginal gains on Thursday, offering some relief to buyers after sharp swings seen earlier this week. Retail bullion rates in major cities moved up slightly, while futures prices on the Multi Commodity Exchange (MCX) continued to reflect market volatility.

According to market data, the price of 24-carat gold rose by ₹10 to ₹1,59,450 per 10 grams, while 22-carat gold also gained ₹10, trading at around ₹1,46,160 per 10 grams. Silver prices increased by ₹100, with one kilogram priced at approximately ₹3,20,100 in key markets such as Delhi, Mumbai and Chennai.

City-wise prices remained largely stable across the country. In Chennai, 24-carat gold was quoted higher due to local taxes, while prices in Mumbai and Delhi stayed close to national averages. Traders said buying interest was seen at lower levels following recent corrections.

In contrast, MCX futures told a different story. Gold futures were trading well below recent highs, hovering around ₹1.51 lakh per 10 grams, while silver futures slipped sharply to nearly ₹2.44 lakh per kilogram. The decline in futures prices reflects continued nervousness among traders after a historic sell-off earlier in the week.

Market experts said the recent volatility was driven by global factors, including a stronger US dollar, changing expectations around interest rates, and profit-booking by investors after bullion touched record levels. Silver, which is more sensitive to industrial demand, has been especially volatile compared to gold.

Despite the small rise in today’s retail prices, analysts cautioned that the move appears to be technical and short-term, rather than a clear trend reversal. They added that precious metal prices are likely to remain sensitive to global economic data, currency movements and geopolitical developments in the near term.

For now, buyers and investors are advised to track international cues closely, as gold and silver markets continue to witness sharp intraday swings and uncertain direction.

Also Read: Sensex drops 400+, Nifty dips below 25,650

Categories
Corporate

Sensex drops 400+, Nifty dips below 25,650

Markets fell sharply on Thursday, ending a three-day winning streak as investors booked profits and turned cautious. The BSE Sensex slipped more than 400 points in early trade, while the NSE Nifty 50 dropped below the key 25,650 level, reflecting broad selling pressure across sectors.

The decline was led by metal and banking stocks, which remained under pressure throughout the session. Weak global cues and uncertainty over commodity prices weighed on metal shares, while select financial stocks also saw selling. Pharma stocks traded lower as well, adding to the overall weakness in the market.

Among the major losers on the Sensex were IndiGo, Axis Bank, Tata Steel, Bharat Electronics (BEL) and Larsen & Toubro, with losses ranging between 1 and 2 per cent. These stocks pulled the benchmarks down as investor sentiment remained cautious.

On the other hand, a few stocks managed to stay in positive territory despite the broader fall. Hindustan Unilever (HUL), Trent, NTPC, Infosys and TCS were among the top gainers, rising up to 2 per cent. Gains in these stocks provided limited support to the indices but were not enough to offset losses elsewhere.

The broader market also mirrored the negative trend. Mid-cap and small-cap stocks slipped, showing that selling was widespread and not limited to large-cap stocks alone. Several stocks also reacted to quarterly earnings announcements, leading to stock-specific volatility.

Global markets offered mixed signals. Asian markets were mostly lower, while US market cues were uncertain. Volatility in commodity prices, especially a sharp fall in silver and easing gold prices, also affected investor sentiment.

Market experts said the fall was largely due to profit booking after the recent rally. They added that while the long-term outlook for Indian markets remains positive, short-term volatility may continue as investors track global developments and corporate earnings.

Also Read: Walmart strikes $1 trillion market value

Categories
Technology

Fitbit founders launch Luffu AI app for family health

James Park and Eric Friedman, the co-founders of Fitbit, know a thing or two about helping people stay healthy. Now, they’re turning their attention to the whole family. Their new startup, Luffu, is an AI-powered platform that helps families monitor and manage health together,  from kids to grandparents, and even pets.

At its heart, Luffu is designed to simplify the chaos of family health. Instead of juggling separate apps, spreadsheets, or sticky notes, families can now see everyone’s health information in one place. The AI gathers data from wearables, health apps, portals, and even notes or photos added by family members. Over time, it learns patterns and can give gentle, proactive alerts,  like reminders for medications, changes in sleep or vitals, and upcoming appointments.

“What sets Luffu apart is its ability to understand context,” Park explains. “It doesn’t just show data,  it gives families answers, like whether a loved one’s blood pressure has changed or if a pet got its medicine today.” Users can ask these questions naturally, just like talking to another person, and the app responds with clear insights.

Privacy is central to Luffu. Everyone controls what information they share and with whom, so sensitive health details remain secure.

Currently, Luffu is available as a mobile app, with a waitlist for early users.

Also Read: HAL shares drop 8% after key fighter jet program setback

Categories
Beyond

HAL shares drop 8% after key fighter jet program setback

Shares of Hindustan Aeronautics Ltd (HAL) fell nearly 8% on Wednesday after reports confirmed that the company was not shortlisted for India’s Advanced Medium Combat Aircraft (AMCA) programme. The drop reflects investor concerns over HAL’s growth prospects amid rising competition in the defence sector.

The AMCA is India’s ambitious fifth-generation stealth fighter jet project, expected to strengthen the country’s air combat capabilities by the mid-2030s. Initially, HAL was considered the frontrunner to lead the programme, given its long-standing experience in aircraft manufacturing. However, the government shortlisted private players such as Larsen & Toubro, Bharat Forge, and Tata Advanced Systems to develop prototypes, leaving HAL out of the initial phase.

It is said that HAL’s exclusion signals a shift in India’s defence strategy, which increasingly encourages private sector participation under the Atmanirbhar Bharat initiative. While HAL remains a key PSU in defence manufacturing, missing out on the AMCA programme could impact near-term revenue visibility and investor sentiment.

HAL shares opened lower and quickly slid to intraday lows, reflecting uncertainty in the market. Other defence stocks showed mixed trends, with the sector digesting the news of greater private competition. Analysts note that while HAL’s long-term position remains strong, the company will need to adapt to new competitive pressures and evolving procurement norms to maintain its market share.

Also Read: SEBI rules out immediate futures and options curbs

Categories
Corporate

Aditya Birla housing finance raises ₹2,750 cr from Advent International

Aditya Birla Housing Finance Ltd (ABHFL), the housing finance arm of Aditya Birla Capital Ltd, is set to receive a significant ₹2,750 crore investment from global private equity firm Advent International. The deal will give Advent a 14.3% stake in ABHFL, while Aditya Birla Capital will continue to hold the majority ownership.

The investment comes through a primary share issuance, which will provide ABHFL with fresh capital to strengthen its balance sheet and accelerate its growth plans. The transaction values the company at around ₹19,250 crore on a post-money basis, reflecting strong investor confidence in the firm’s business model and future prospects.

Once completed, the deal will help ABHFL expand its lending operations, reach more homebuyers, and deepen its presence across India. The funds are expected to support the company’s long-term strategy of offering affordable housing loans and enhancing its customer base, particularly in tier-2 and tier-3 cities where demand for housing finance is growing rapidly.

The investment is subject to regulatory and shareholder approvals, which are expected to be obtained in the coming months. Following the announcement, Aditya Birla Capital shares rose by 8%, signaling positive market sentiment towards the deal. Analysts noted that the transaction not only strengthens ABHFL’s growth trajectory but also reflects the attractiveness of India’s housing finance sector to global investors.

Advent International, through its investment platform Indriya Limited, has a strong track record of backing companies in India and globally, focusing on growth-stage opportunities. This partnership is likely to bring strategic guidance and expertise to ABHFL, in addition to the capital infusion.

Also Read: Vinay Tonse named Yes Bank MD & CEO

Categories
Corporate

Sensex rises 78 points, Nifty crosses 25,750

Indian benchmark indices ended Wednesday’s session on a positive note, with the BSE Sensex rising about 78 points and the Nifty 50 holding above 25,750, as investors weighed a mix of domestic policy developments and global cues.

After a strong rally earlier in the week triggered by the India–US trade deal, which lowered tariffs on key Indian exports, markets paused for consolidation. Heavyweights such as Trent and Eternal surged around 5% each, driving gains, while Infosys and HCL Tech slipped, reflecting cautious profit‑booking in IT stocks.

Traders balanced optimism over Union Budget 2026 measures with selective profit-taking. Banking and consumer stocks supported the market, while technology and export‑sensitive sectors saw mixed performance amid global market volatility.

Global developments, including geopolitical tensions and international market shifts, influenced investor sentiment, pushing the India VIX higher as traders hedged positions.

Corporate earnings updates added stock-specific momentum, particularly in financial services, while analysts highlighted earnings flows, foreign institutional investor activity, and policy clarity as near-term market drivers.

Also Read: Sensex swings in range, Nifty breaches 25,750 mark

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1 Minute-Read

Elon Musk tops $800 bn after SpaceX‑xAI deal

Elon Musk’s wealth has surged past $800 billion after SpaceX acquired his AI company xAI.

The merged firm, valued at around $1.25 trillion, boosts Musk’s stake and strengthens SpaceX as his most valuable asset. The deal unites AI, space technology, satellite internet, and social platform X, with a potential SpaceX IPO later this year.

This landmark move makes Musk the richest person in history, setting a new benchmark in personal wealth.

Categories
Corporate

ChrysCapital picks minority stake in Nash Industries

Private equity firm ChrysCapital has acquired a minority stake in Nash Industries, a Bengaluru-based design and manufacturing solutions company, marking a significant investment in India’s fast-evolving manufacturing sector. While the financial details of the transaction were not officially disclosed, sources indicate the deal values Nash Industries at around ₹6,000 crore, with ChrysCapital picking up an estimated stake of about 30 per cent.

Founded more than five decades ago, Nash Industries has transformed from a sheet-metal components maker into a full-stack, design-led manufacturing platform. The company offers integrated mechanical, electrical, and electronics manufacturing services, including end-to-end “box-build” solutions. It caters to a wide range of industries such as data centres, banking hardware, clean energy, automotive, and industrial equipment.

Nash currently operates around 15 manufacturing facilities across South and West India and serves both domestic and international clients. Over the years, the company has focused on higher-value engineering and design capabilities, enabling it to move up the manufacturing value chain and become a preferred partner for global customers.

ChrysCapital’s investment comes at a time when Indian manufacturing is gaining momentum due to shifting global supply chains, increasing focus on China-plus-one strategies, and strong policy support through initiatives such as “Make in India.” The partnership is expected to help Nash accelerate capacity expansion, invest in advanced technologies, and strengthen its presence in export markets.

Commenting on the development, Nash Industries Chairman Sanjay Wadhwa said the investment validates the company’s long-term strategy and will support its next phase of growth. He added that the partnership would enhance Nash’s ability to deliver innovative, high-quality solutions to customers across sectors.

From ChrysCapital’s perspective, the firm sees Nash as well-positioned to benefit from growth in emerging areas such as data centres, artificial intelligence-led infrastructure, and energy transition-related manufacturing. The private equity firm has a strong track record of backing Indian companies in sectors with long-term structural tailwinds.

Also Read: Adani Defence and Leonardo join hands to build helicopters in India

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1 Minute-Read

Varun Beverages Q3 profit jumps 33% to ₹260 cr

Varun Beverages Ltd reported a 33% rise in consolidated net profit to ₹260 crore for the December quarter, compared with ₹196 crore a year ago.

Revenue from operations increased 14% to around ₹4,204 crore, supported by strong demand across markets. Total sales volumes grew 10.2% to 237.1 million cases, with India recording 10.5% growth and international operations rising 10%.

The company also posted improved operating performance during the quarter. Varun Beverages, a key PepsiCo bottler, said better product mix and wider distribution helped sustain growth momentum despite cost pressures.