Author: Staff Writer

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Corporate

Anthropic lets employees sell up to $6 bn in shares

AI company Anthropic has launched a major share sale for its employees and former staff, allowing them to sell up to $5–6 billion worth of company stock. The move lets workers access some of the value they have helped create without waiting for an IPO or company sale.

The share sale is based on a valuation of around $350 billion, close to the level from Anthropic’s recent $30 billion funding round, which valued the company at roughly $380 billion. This reflects strong investor confidence in the company’s AI technology and growth.

Only employees who have worked at Anthropic for at least a year can participate. The shares will be sold to outside investors, not the company itself, and the total amount sold will depend on how many staff choose to take part.

This type of secondary stock sale is increasingly common among high-value tech startups. It allows employees to cash out some of their equity while keeping the company private. Similar plans have been used by companies like Stripe, SpaceX, and OpenAI to reward employees and retain talent in competitive AI and tech markets.

Anthropic has grown rapidly, attracting major investments and expanding its AI products and customer base. By letting employees sell shares now, the company gives them an early opportunity to benefit financially from their work, something usually only possible after a public listing or company acquisition.

Company officials have not publicly commented on the details of the share sale, and the final terms may change as the process continues.

Also Read: Amazon opens second-largest Asia office in Bengaluru

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Corporate

Sensex falls over 1,000 points, Nifty slips below 25,450

Stock markets fell sharply on Tuesday, February 24, 2026, with the BSE Sensex dropping 1,050 points to close near 84,300 and the Nifty 50 slipping below 25,450. The decline reflected weak global cues, especially from the US and Asian markets, and domestic caution ahead of weekly futures and options expiry.

The sell-off was broad-based but concentrated in technology and metal stocks. Major IT firms, including Infosys and TCS, fell up to 6%, while metals companies like Tata Steel and JSW Steel also saw sharp losses. High-beta and cyclical sectors bore the brunt of investor selling, as market sentiment remained risk-averse.

On the upside, some defensive sectors provided relief. Energy and gas stocks, led by BPCL, Reliance Industries, and ONGC, gained amid positive sector-specific news and strong domestic demand expectations. These stocks cushioned the overall impact on the indices but could not offset the heavy losses from the broader market.

Analysts said a combination of global macroeconomic uncertainties, concerns over US trade policies, and mixed domestic economic signals contributed to the decline. Market participants also noted that volatility is likely to persist, with investors closely watching corporate earnings, policy updates, and upcoming economic data for cues.

The trading session highlighted a clear sectoral divide: while cyclical and tech-heavy stocks faced intense pressure, energy and commodity-related names attracted selective buying. Investors were seen rotating funds into defensive areas, reflecting caution in the current market environment.

Also Read: Sensex rises 480 pts, Nifty tops 25,700

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1 Minute-Read

Prestige Group secures ₹115 cr co‑branding deal for Bellandur Metro

The Prestige Group has signed a ₹115 crore, 30-year deal with the Bangalore Metro Rail Corporation Limited (BMRCL) to co‑brand the upcoming Bellandur Metro Station on the Outer Ring Road.

The station will be renamed “Prestige Bellandur Metro Station”, with upgrades including improved commuter facilities. The agreement gives Prestige naming rights, commercial space, and advertising opportunities, and plans include a future footbridge connecting the station to Prestige Lakeshore Drive.

The partnership reflects a growing trend of private investment in metro infrastructure to enhance stations and generate non-fare revenue, while benefiting daily commuters.

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Beyond

Gurugram tops Mumbai with ₹24,000 cr ultra-luxury home sales

Gurugram has overtaken Mumbai to become India’s largest market for ultra-luxury homes, signalling a major shift in the country’s high-end property landscape. Homes priced at ₹10 crore and above saw record sales in the NCR city in 2025, both in terms of value and the number of units sold.

According to a recent industry report, Gurugram registered sales of around 1,494 ultra-luxury homes worth more than ₹24,000 crore during the year. This pushed it ahead of Mumbai, which has traditionally dominated the premium housing segment. The sharp rise highlights growing demand for spacious, high-end homes among wealthy buyers, including top executives, entrepreneurs and non-resident Indians.

Real estate experts say the trend is being driven by several factors. Gurugram offers larger apartments and villas, modern gated communities, and newer projects with luxury amenities. Compared to Mumbai, buyers also get more space at a relatively lower price per square foot. Improved infrastructure, proximity to Delhi, and the presence of major corporate offices have further boosted the city’s appeal.

Developers have responded with branded residences, penthouses and high-rise luxury projects, many of which were sold even before completion. Strong interest from NRI investors and high-income professionals has helped maintain steady demand despite high property prices.

Mumbai, while moving to second place, continues to see strong traction in its premium micro-markets such as South Mumbai and parts of the western suburbs. However, limited land availability and higher costs have made large luxury developments more challenging compared to Gurugram.

The report notes that the overall ultra-luxury housing segment in India is expanding rapidly, reflecting rising wealth and a post-pandemic preference for bigger, more exclusive homes.

Also Read: Bharti Airtel earmarks ₹20,000 crore for digital lending push

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Beyond

Fraud proceedings against Anil Ambani get Bombay HC nod

The Bombay High Court has cleared the way for banks to move ahead with fraud proceedings against industrialist Anil Ambani in connection with loans taken by Reliance Communications (RCom), delivering a significant setback to the businessman.

In its ruling, the court rejected Ambani’s plea that sought to stop lenders from acting on the fraud classification of the loan account. The bench held that there was no valid reason to interfere at this stage and allowed the banks to continue their action in accordance with the law.

The case relates to loans extended to Reliance Communications, which later turned into non-performing assets. Banks had classified the account as “fraud” under the Reserve Bank of India’s guidelines and initiated steps against the company’s former director, Anil Ambani. Challenging this, Ambani had approached the High Court, arguing that the classification was unfair and that he was not given a proper opportunity to present his side.

However, the court observed that the principles of natural justice had been followed and that Ambani had already been granted opportunities for a hearing. It said the legal process could not be stalled merely on apprehensions and that the appropriate forum for raising detailed objections would be during the proceedings before the concerned authorities.

With the High Court refusing to grant relief, lenders are now free to continue with measures linked to the fraud tag, which could include further investigations and recovery actions as per regulatory norms.

The ruling is important because a fraud classification carries serious consequences, including restrictions on raising finance and potential legal action against the individuals involved.

Reliance Communications, once a major telecom player, has been undergoing insolvency proceedings after defaulting on massive debt. The latest court order adds another layer to the legal challenges faced by Anil Ambani, who has been contesting multiple claims from lenders over the past few years.

Also Read: EVs may lose zero-emission tag under CAFE-III

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Beyond

EVs may lose zero-emission tag under CAFE-III

Electric vehicles in India may no longer be treated as “zero-emission” under the upcoming Corporate Average Fuel Efficiency (CAFE-III) norms, as the government considers a new method to measure their environmental impact.

At present, EVs are classified as zero-emission because they do not produce exhaust fumes. However, officials are now discussing whether they should be evaluated based on how much energy they consume and how that electricity is generated. This means emissions from power production used to charge EVs could also be taken into account.

The issue has reached the Prime Minister’s Office, which has stepped in to review the proposal after differences emerged between government departments and concerns were raised by the auto industry.

The new CAFE-III norms, expected to be implemented from 2027, will set stricter fuel-efficiency and carbon-emission targets for passenger vehicles. The aim is to push carmakers to improve overall efficiency across their vehicle fleets.

Some officials believe removing the zero-emission tag will create a fair and technology-neutral system that rewards real efficiency, whether the vehicle runs on petrol, diesel, hybrid or electric power. Others worry that such a move could slow down EV adoption by weakening the strong policy support the sector currently enjoys.

Automakers are also seeking clarity, as any major change in the rules could affect their future investments and product plans in the fast-growing electric-vehicle market.

The government is now looking for a balanced approach that supports India’s clean-mobility goals while ensuring the new norms are based on a more realistic assessment of emissions.

If the proposal is approved, EV makers will have to focus not only on selling electric cars but also on improving their energy efficiency.

Also Read: Nikhil Kamath’s podcast to feature Anthropic CEO

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Beyond

Gold up at ₹1.61 lakh, Silver tops ₹3 lakh

Gold prices moved up slightly in the domestic market on Monday, while silver also recorded a notable increase, tracking firm global trends and continued investor demand for safe-haven assets.

According to market data, gold climbed by about ₹10 to ₹1,61,360 per 10 grams in the national capital. In the previous session, the precious metal had closed at ₹1,61,350 per 10 grams.

Silver prices rose by ₹100 to ₹3,00,100 per kilogram, compared with the earlier close of ₹3,00,000 per kg.

In the futures market on the Multi Commodity Exchange (MCX), both metals showed a positive trend due to fresh buying by traders. Analysts said the rise was mainly supported by global factors, including firm international prices and steady demand for bullion as a hedge against economic uncertainty.

In the international market, gold traded higher, while silver also gained, reflecting strong investor interest. A weaker dollar and concerns over global economic conditions further supported the uptrend in precious metals.

Also Read: Sensex rises 480 pts, Nifty tops 25,700

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Corporate

Sensex sinks 700, Nifty tests 25,500

Indian stock markets witnessed a sharp sell-off on Tuesday, with the BSE Sensex plunging more than 700 points and the Nifty 50 dropping below the crucial 25,500 mark. The decline reflected broad-based weakness across sectors as investors turned cautious amid rising global uncertainties.

The fall was largely driven by heavy selling in information technology stocks, which dragged the benchmarks lower. The Nifty IT index emerged as one of the worst performers, as concerns over global demand and fresh trade tensions hurt sentiment. Banking, auto and metal stocks also traded in the red, contributing to the overall decline.

Global factors played a key role in Tuesday’s market slide. Investor confidence weakened after renewed fears of higher US import tariffs resurfaced, raising concerns about global trade disruptions. Weak cues from Asian markets and overnight losses on Wall Street further dampened risk appetite among domestic investors.

Back home, the Indian rupee opened lower against the US dollar, adding to the cautious mood. Market participants also remained watchful ahead of key global economic signals, which could influence foreign fund flows into emerging markets like India.

Despite the broader weakness, a few individual stocks saw action on company-specific developments. Select counters attracted buying interest following business updates and regulatory approvals, offering limited support to the market.

Analysts said that the Nifty’s breach of the 25,500 level is technically significant and could trigger further volatility in the near term. However, some experts believe that if the index manages to hold near current levels, bargain buying may emerge.

Also Read: Sensex rises 480 pts, Nifty tops 25,700

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Beyond

₹5.16 cr toll refund for Mumbai–Pune Expressway motorists

Around one lakh motorists stranded in the massive traffic jam on the Mumbai–Pune Expressway earlier this month will receive a total toll refund of ₹5.16 crore, the Maharashtra State Road Development Corporation (MSRDC) has said. The amount will be credited directly to the FASTag accounts of the affected commuters.

The unprecedented congestion was caused on February 3 after a gas tanker overturned near the Khopoli stretch, severely disrupting traffic movement on one of the country’s busiest highways. The accident led to a standstill that lasted for nearly 33 hours, with vehicles stuck in long queues for several kilometres. Thousands of passengers, including families and elderly travellers, were left stranded on the road without access to food, water or medical help for hours.

Authorities had ordered the suspension of toll collection soon after the scale of the disruption became clear. However, toll charges continued to be deducted automatically from several FASTag accounts before the system was fully halted. Following complaints from commuters, MSRDC reviewed the transactions and decided to refund the entire amount collected during the period of the traffic blockade.

Officials said detailed FASTag data is being examined to identify every vehicle that was charged despite the toll suspension. The refund will apply to toll collected at both ends of the expressway during the disruption. The toll operator has been directed to complete the reconciliation process and ensure the money is returned to commuters at the earliest.

The Mumbai–Pune Expressway is a crucial link between the two cities and handles heavy daily traffic. The incident triggered public anger over the toll collection during a prolonged highway closure. The refund decision is expected to provide relief to affected motorists and address concerns over automated toll deductions during emergencies.

Also Read: Clean Max Enviro IPO at Rs 3,100 crore on day 1

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Corporate

Clean Max Enviro IPO at Rs 3,100 crore on day 1

Clean Max Enviro Energy Solutions’ initial public offering, sized at about Rs 3,100 crore, opened to a warm reception from investors on the first day of bidding. Subscription data from market platforms showed the issue was multiple times subscribed on Day 1, reflecting strong appetite among retail and institutional buyers for companies in the environmental services space.

Market participants pointed to the company’s focus on waste‑to‑energy, hazardous and non‑hazardous waste management, and industrial wastewater treatment as key reasons for interest. Clean Max Enviro positions itself as a specialist in sustainable waste and energy solutions, a sector that has gained attention as regulators and corporates push for cleaner operations and circular‑economy practices.

Alongside formal subscription numbers, the grey market indicated a positive premium, suggesting that aftermarket sentiment was upbeat. Traders in the unofficial market were quoting a premium over the IPO price, a sign that some investors expect listing gains. Analysts caution that grey‑market premiums are informal indicators and can change quickly as formal allotment and listing dates approach.

The company plans to use proceeds for debt repayment, working capital, and capital expenditure to expand its project pipeline. Management has highlighted a multi‑year growth plan driven by rising industrial demand for compliant waste management and by new contracts in municipal and commercial segments.

Risks flagged by advisers include project execution timelines, regulatory approvals, and the capital‑intensive nature of waste‑to‑energy projects. Investors are advised to balance the sector’s long‑term potential against near‑term execution and financing risks.

For retail investors considering subscription, brokers recommend checking allocation rules, the company’s financials, and how the IPO fits individual risk profiles. Institutional investors will watch final subscription figures and anchor allocations before forming a view on aftermarket performance.

Also Read: Banks’ quarterly profit tops ₹1 lakh crore