Author: Sreelatha M

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Leaders

BBC Chiefs quit over Trump speech edit

The BBC is in turmoil after its top executives resigned over a controversial edit of a Donald Trump speech.

Director-General Tim Davie and News CEO Deborah Turness stepped down following criticism that a Panorama documentary misrepresented Trump’s words. The clip made it seem he urged supporters to march on the Capitol, while the actual speech included calls for a peaceful demonstration. Key details about the timeline of events were also omitted.

BBC chairman Samir Shah said he will apologise to the UK Parliament’s media committee. The resignations have drawn sharp reactions, including praise from Trump, who called the broadcaster “dishonest.”

The episode has raised questions about media trust and editorial standards at one of Britain’s most important public institutions.

Also Read: China eases export controls on auto chips

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Corporate

Sensex jumps 319 pts, Nifty above 25,550

The Indian stock market rebounded on Monday, with the Sensex rising 319 points to 83,535 and the Nifty 50 closing at 25,574, holding above the key 25,550 level. Gains were driven by global optimism over a potential end to the U.S. government shutdown and positive corporate earnings.

Top gainers included HCL Technologies, Bajaj Finance, Infosys, Asian Paints, and Reliance Industries. Among top losers were Trent, Apollo Hospitals, Max Healthcare, Maruti Suzuki, and Dr Reddy’s Laboratories.

The IT and financial sectors led the rally, while healthcare and consumer discretionary stocks lagged. Analysts said global cues and domestic earnings will continue to influence market direction in the coming sessions.

Also Read: Nykaa shares jump 8% after strong Q2 earnings

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Corporate

Lenskart lists at ₹390–₹395, below ₹402 IPO

India’s leading eyewear retailer Lenskart began trading on NSE and BSE today, opening modestly below its IPO price. The company raised approximately ₹7,278 crore through its IPO, which included a combination of a fresh issue and an offer-for-sale (OFS).

The IPO was priced at ₹402 per share and saw robust investor participation, with overall subscription reaching 28×. Qualified Institutional Buyers (QIBs) drove subscriptions of around 40×, while Non-Institutional Investors (NIIs) and retail investors contributed roughly 18× and 8×, respectively.

Despite the strong demand, Lenskart’s shares opened at ₹390 on BSE and ₹395 on NSE, representing a slight 3% discount to the issue price. Analysts suggest that this modest listing performance reflects caution among investors regarding valuation and execution risks. Prior to listing, the grey-market premium (GMP) had fallen significantly, signaling tempered expectations for immediate listing gains.

At the upper end of the issue price, Lenskart’s valuation was estimated at around ₹70,000 crore, making it one of the largest consumer retail IPOs this year. The funds raised are expected to support the company’s expansion plans, enhance supply-chain capabilities, and strengthen its technological infrastructure, consolidating its position in the organized eyewear market.

The company’s entry into public markets marks a significant milestone, even as initial market reactions suggest a cautious approach by investors.

Also Read: Adani Enterprises likely a top bidder for Jaiprakash Associates

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Corporate

Think Investments invests ₹136 crore in PhysicsWallah ahead of IPO

US-based global investment firm Think Investments has infused ₹136.17 crore into PhysicsWallah (PW) through a secondary share purchase, ahead of the edtech company’s much-awaited ₹3,480-crore initial public offering (IPO).

The investment was made through the purchase of 10.7 million shares from 14 employees at a price of ₹127 per share, valuing the company at a premium of nearly 17% over the upper end of its IPO price band. The transaction gives Think Investments a 0.37% stake in PhysicsWallah.

Founded by Alakh Pandey and Prateek Boob, PhysicsWallah has announced an IPO comprising a ₹3,100-crore fresh issue and an offer for sale (OFS) worth ₹380 crore by the promoters. The issue will open on November 11, 2025, with a price band set at ₹103–₹109 per share.

Post-listing, the promoters’ combined stake will reduce from 80.62% to around 72%, while no institutional investors are expected to dilute their holdings.

Think Investments, which manages a global portfolio of approximately US $4 billion, is known for backing high-growth technology-driven firms, including Swiggy, FirstCry, and Urban Company.

The latest investment highlights continued institutional interest in PhysicsWallah, which has previously facilitated several employee stock-option (ESOP) liquidation rounds in 2025 at valuations ranging from ₹127–₹137 per share.

Proceeds from the IPO are expected to be deployed toward business expansion, product development, and strengthening the company’s hybrid education model across India.

Also Read: HAL, GE ink $1 billion deal for 113 Tejas engines

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Beyond

Gold at ₹1.22 lakh/10 g, Silver near ₹1.52 lakh/kg

Gold prices in India stayed firm on November 10, trading around ₹1,22,010 per 10 grams for 24-carat and ₹1,11,840 per 10 grams for 22-carat gold. In Delhi, 24-carat gold was priced slightly higher at ₹1,22,160 per 10 grams, while similar rates were seen in Mumbai, Kolkata, and other metros.

Silver followed a similar trend, hovering near ₹1.52 lakh per kilogram across most cities. In Chennai, prices were marginally higher at about ₹1.64 lakh per kilogram.

According to market reports, gold slipped by ₹10 per 10 grams and silver by ₹100 per kilogram in early trade, reflecting a minor correction after last week’s rally. Analysts said weak global data and expectations of rate cuts in the U.S. are helping the yellow metal hold firm as a safe-haven asset.

Meanwhile, the Securities and Exchange Board of India (SEBI) issued a fresh advisory cautioning investors about digital gold products. The regulator warned that these online offerings operate outside SEBI’s regulatory framework and could expose buyers to counterparty and operational risks.

Also Read: Sensex up 250 points, Nifty above 25,550 as markets rebound

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Technology

Musk Plans Tesla ‘Terafab’ Chip Plant

Tesla CEO Elon Musk has announced plans to build a massive factory to produce the company’s own artificial intelligence (AI) chips, as demand for computing power in self-driving cars and robotics continues to surge.

Speaking at Tesla’s annual shareholder meeting, Musk said the company may not be able to meet future chip requirements through its current suppliers, including Taiwan Semiconductor Manufacturing Company (TSMC) and Samsung. To fix that, Tesla is considering building what he called a “terafab”, a chip plant far larger than any existing “gigafactory.”

Musk said the proposed facility could handle at least 100,000 wafer starts per month, making it one of the world’s biggest semiconductor fabs. He added that Tesla is open to partnering with Intel for the project, saying it’s “worth having discussions” with the American chipmaker. No agreement has been finalised yet.

The move comes as Tesla develops its next-generation AI chip, known as “AI5,” expected to enter small-scale production in 2026 and mass production in 2027. A more advanced version, “AI6,” could follow in 2028 with double the performance. Musk claimed the new Tesla chip would consume one-third the power of NVIDIA’s flagship Blackwell chip and cost only 10% as much to make.

Industry experts have described Musk’s plan as bold but challenging, since building and running an advanced chip fab requires huge investment and expertise. Still, the idea has excited markets—Intel’s shares rose after Musk mentioned the potential tie-up.

At the same meeting, Tesla shareholders also approved Musk’s 10-year compensation plan, worth nearly $1 trillion, signalling continued investor confidence in the company’s long-term AI and robotics ambitions.

Also Read: India’s Top Philanthropists Give ₹10,380 Cr

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Leaders

India’s Top Philanthropists Give ₹10,380 Cr

India’s wealthiest are giving bigger donations than ever, with a clear focus on education and social impact. According to the EdelGive Hurun India Philanthropy List 2025, total contributions by the country’s top philanthropists rose to ₹10,380 crore in 2024–25, up 85% over three years.

Shiv Nadar, founder of HCL Technologies, tops the list, donating ₹2,708 crore this year, around ₹7.4 crore per day. Over the past five years, Nadar and his family have contributed more than ₹10,120 crore, mainly through the Shiv Nadar Foundation, which supports education and social development.

Mukesh Ambani and family are second, giving ₹626 crore, largely through the Reliance Foundation, for healthcare, rural development, and education. Gautam Adani donated ₹376 crore, followed by Nandan Nilekani with ₹304 crore. Other top donors include the Hinduja family (₹298 crore), Rohini Nilekani (₹204 crore), India’s leading woman philanthropist, Sudhir and Samir Mehta (₹189 crore), and Cyrus and Adar Poonawalla (₹173 crore).

The top 25 donors have contributed nearly ₹50,000 crore in the past three years, averaging about ₹46 crore per day. Education remains the largest focus, followed by skills development and community healthcare.

Experts say the rise in structured philanthropy shows that India’s wealthy are increasingly aiming for long-term social impact, rather than one-off charity. By using foundations and institutional channels, donations are becoming more transparent, measurable, and aligned with national development goals. Large-scale contributions like these could play a crucial role in strengthening India’s education, healthcare, and research systems.

Also Read: Infosys Sets Nov 14 Record Date for ₹18,000 Cr Buyback

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Corporate

Sensex Down 95 pts, Nifty Below 25,500, TechM, IndiGo Fall 2%

Indian equities recovered from sharp early losses on Friday but still closed lower, marking a third consecutive session of declines for the Sensex and Nifty amid profit-booking after October’s strong rally.

The S&P BSE Sensex fell 0.1% to 83,216.28, rebounding from an intraday drop of over 600 points, while the NSE Nifty 50 slipped 0.07% to 25,492.30 after falling nearly 0.7% earlier in the day.

Tech and telecom stocks led the losses, with Bharti Airtel down 4.5% following Singapore Telecommunications’ $1.2-billion stake sale. Tech Mahindra, Reliance Industries, Trent, and HCL Technologies also fell between 1% and 4.5%.

For the week, both indices lost 0.9%, with small-cap stocks sliding 1.7% while mid-caps remained largely flat. Public-sector banks outperformed, gaining 2.1%, led by State Bank of India after strong earnings and improved loan growth guidance.

Analysts said the decline was driven by profit-taking, foreign fund outflows, rupee weakness, global tech pressures, weak US job data, and cautious technical charts.

Also Read: Sensex down 550 pts, Nifty under 25,350, Airtel, HUL drag

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Corporate

Tesla Shareholders Approve $1Trillion Musk Pay Package

Tesla CEO Elon Musk is set to become the world’s first trillionaire after more than 75% of the company’s shareholders approved as much as $1 trillion in stock over the next decade.

Shareholders voted in favor of the proposal at Tesla, based in Austin, reaffirming their faith in Musk’s leadership and vision to transform the electric vehicle pioneer into a technology powerhouse focused on AI, robotics, and autonomous systems.

Under the approved plan, Musk will receive stock awards only if Tesla achieves a series of ambitious performance and market milestones over the next decade.

These include delivering 20 million electric vehicles, deploying 1 million self-driving robotaxis, selling 1 million humanoid robots, and generating $400 billion in core profit.

If all targets are achieved, Musk would gain roughly 12% of Tesla’s shares, worth about $878 billion after adjustments.

Shares of Tesla rose more than 3 percent in after-hours trading after the shareholder voted on Thursday.

Shareholders also backed Tesla’s potential investment in Musk’s AI startup, xAI, despite concerns over conflicts of interest. The partnership could enhance Tesla’s self-driving technology while providing xAI with a major commercial client.

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Corporate

Sensex down 550 pts, Nifty under 25,350, Airtel, HUL drag

Indian markets opened lower on Friday, with the Sensex sliding over 550 points to around 82,824 and the Nifty falling below 25,350, marking a third consecutive session of losses.

Profit-booking and sustained foreign outflows weighed on sentiment, overshadowing positive cues from improving corporate earnings and progress in India–U.S. trade discussions.

Airtel and HUL were among the top laggards, while Asian Paints and Reliance Industries managed modest gains.

Broader markets also weakened, with the Nifty Midcap 100 down 0.9% and the Smallcap 100 falling 1.3%.

Also Read: M&M exits RBL Bank with 62.5% gain