Author: Staff Writer

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Corporate

China’s Anta Sports invests in Puma for $1.8 bn

China’s leading sportswear company Anta Sports Products has taken a significant step onto the global stage by agreeing to buy a 29.1% stake in German sports brand Puma in a deal worth around $1.8 billion (€1.5 billion). The shares are being acquired from Artemis, the investment firm of the Pinault family, which has been a long-time major shareholder in Puma.

The deal will make Anta Puma’s largest shareholder, though the Chinese company has clarified that it does not plan a full takeover at this stage. Anta will pay €35 per share in cash, offering a substantial premium over Puma’s recent market price,  a sign of strong belief in the brand’s long-term value.

For Anta, the investment is part of a broader strategy to expand its international presence. The company already manages several well-known global brands, including Fila in China, outdoor label Jack Wolfskin, and sports names such as Salomon and Wilson through its stake in Amer Sports. Adding Puma to this portfolio strengthens Anta’s position as a major global player in the sporting goods industry.

For Puma, the move comes at a crucial time. The German brand has been facing slower sales growth and stiff competition from rivals like Nike and Adidas. While Puma has been working on a turnaround under new leadership, recent performance pressures have weighed on its market confidence. The entry of Anta as a strategic shareholder could provide both stability and new growth opportunities, especially in Asian markets.

The transaction is still subject to regulatory and antitrust approvals and is expected to be completed by the end of 2026. If cleared, the partnership could reshape the competitive landscape of the global sportswear industry, blending European brand heritage with Chinese market strength.

Industry observers say Anta’s strong distribution network and deep understanding of the Chinese consumer could help Puma regain momentum in the world’s largest sportswear market. At the same time, Puma’s global brand strength offers Anta greater international visibility.

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1 Minute-Read

Amazon to cut 16,000 jobs on Jan 27, Indian teams mostly

Amazon is set to begin a new round of layoffs on January 27, 2026, affecting around 16,000 employees worldwide. This move is part of the company’s ongoing restructuring, which may see nearly 30,000 corporate roles cut by mid-2026.

India teams, particularly in Bengaluru, Hyderabad, and Chennai, are expected to face the largest impact. Cuts will span key divisions including Amazon Web Services (AWS), Prime Video, retail operations, and HR.

Internal discussions and reports suggest notices may already be circulating, though Amazon has not officially confirmed the details.

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Beyond

Gold at ₹1,61,960, silver rises to ₹3,60,100

Gold prices in India moved marginally higher on Tuesday, continuing their firm trend in the domestic bullion market. According to market data, the price of 24-carat gold increased by ₹10, taking the rate to ₹1,61,960 per 10 grams. Silver also registered a small gain, rising ₹100 to trade at ₹3,60,100 per kilogram.

The price movement reflects steady buying interest and supportive global cues, even as daily fluctuations remain limited. In major cities such as Mumbai, Delhi, and Kolkata, 24-carat gold was largely priced at similar levels, while 22-carat gold rose to around ₹1,48,460 per 10 grams. Minor variations were seen across regions, with cities like Chennai quoting slightly higher rates.

Silver continued to trade near elevated levels, supported by both industrial demand and investment interest. In some southern markets, including Chennai, silver prices were higher than the national average, reflecting regional demand patterns.

Market experts say precious metals remain strong due to ongoing global economic uncertainty. Gold, in particular, continues to attract investors as a safe-haven asset amid concerns around inflation, interest rates, and geopolitical developments. International gold and silver prices have also been trading close to recent highs, providing support to domestic prices.

For consumers, elevated prices mean higher jewellery costs, especially during the wedding and festive season. However, traders note that small daily price changes, such as Tuesday’s increase, are part of a broader trend rather than sudden volatility.

Investors are closely watching global cues, including movements in the US dollar, interest rate signals from major central banks, and global economic data, all of which influence precious metal prices. Any sharp changes in these factors could impact gold and silver prices in the days ahead.

Also Read: Sensex slides over 250 points, Nifty breaches 25,000

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Corporate

Sensex slides over 250 points, Nifty breaches 25,000

Indian equity markets reopened post the Republic Day holiday, wherein the BSE Sensex and NSE Nifty 50 opened on a positive note, tracking supportive signals from global markets. The Sensex slipped over 250 points, while the Nifty briefly fell below the 25,000 mark, reflecting cautious investor sentiment.

Buying interest was seen in select heavyweight stocks. Axis Bank shares moved higher, lending some support to the banking pack, while Adani Enterprises gained around 3 per cent, emerging as one of the top performers on the benchmark indices.

On the downside, Kotak Mahindra Bank declined sharply following its quarterly results, adding pressure on the financial sector. Mahindra & Mahindra fell nearly 4 per cent, dragging auto stocks lower, while Wipro and other IT stocks also traded weak amid broader selling.

Market participants remained cautious amid mixed global macro cues, including tariff-related concerns and currency volatility, which kept risk appetite in check. Traders also monitored upcoming corporate earnings and macroeconomic triggers for clues on near-term direction.

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Corporate

ICICI Pru to halt new inflows into two FoFs

ICICI Prudential Mutual Fund has decided to stop accepting new investments in two of its fund-of-funds (FoF) schemes from January 27, 2026. The decision follows changes in regulatory guidelines and will place the schemes under a grandfathering process, meaning they will continue only for existing investors.

The two schemes affected are the ICICI Prudential Passive Multi-Asset Fund of Fund and the ICICI Prudential Global Advantage Fund of Fund. According to the asset management company (AMC), the structure and investment pattern of these schemes do not fully align with the Securities and Exchange Board of India’s (SEBI) updated framework for FoFs that invest in multiple underlying funds.

As part of this move, no fresh lump-sum investments, SIPs (Systematic Investment Plans), or STPs (Systematic Transfer Plans) will be allowed after the cut-off date. Applications received before 3 pm on January 23, 2026, will be processed as usual. Existing SIPs and STPs will be discontinued from February 5, 2026. In addition, the IDCW reinvestment option in both schemes will be shifted to an IDCW payout option.

While new inflows will stop, existing investors can continue to hold their units. They will also have the flexibility to redeem or switch out their investments at any time, including through Systematic Withdrawal Plans (SWPs). The AMC clarified that there will be no restriction on exits.

The Passive Multi-Asset FoF, launched in 2022, invests in a mix of domestic and international exchange-traded funds (ETFs) and index funds, offering exposure across equity, debt, and gold. The Global Advantage FoF focuses largely on overseas markets through international funds. Both schemes have attracted significant investor interest and assets over time.

ICICI Prudential AMC said the grandfathering will remain in place until the schemes are either merged with other suitable funds or wound up, in line with SEBI rules. This process can take up to three years.

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Beyond

PFRDA reviews NPS investment rules

The Pension Fund Regulatory and Development Authority (PFRDA) has set up an expert committee to review and modernise the investment framework of the National Pension System (NPS). The move aims to strengthen long-term retirement savings, improve risk management and align NPS investments with evolving market conditions and global best practices.

The nine-member panel, named the Strategic Asset Allocation and Risk Governance (SAARG) Committee, will be chaired by Narayan Ramachandran, former India head and CEO of Morgan Stanley. The committee includes experienced professionals from the fields of asset management, capital markets and financial research.

The National Pension System is a key retirement savings scheme in India, covering government employees, private sector workers and individual subscribers. Any changes to its investment framework are expected to have a significant impact on long-term pension savings and capital market participation.

According to PFRDA, the committee’s main task is to examine the current investment guidelines of NPS and suggest changes that can enhance returns while managing risks effectively. The review will cover strategic asset allocation, diversification across asset classes, and the overall investment structure followed by pension funds under NPS.

The committee will also study governance mechanisms, risk monitoring systems and performance measurement standards. Special focus will be placed on evaluating alternative asset classes such as real estate, infrastructure investment trusts (InvITs), real estate investment trusts (REITs) and private equity, along with their valuation and liquidity norms.

In addition, the panel will assess portfolio stability, liquidity management and the role of intermediaries within the NPS ecosystem. Another key area of review is the integration of environmental, social and governance (ESG) principles into investment decisions, reflecting the growing importance of sustainable investing.

The SAARG committee has been given a nine-month timeline to complete its review and submit recommendations to PFRDA. Based on these suggestions, the regulator may revise existing NPS investment rules to provide greater flexibility, stronger governance and improved retirement outcomes for subscribers.

Other members of the committee include well-known market experts such as Raamdeo Agrawal, Kalpen Parekh, Devina Mehra and Ananth Narayan.

Also Read: Samsung nears Nvidia approval for HBM4 AI chips

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Corporate

Samsung nears Nvidia approval for HBM4 AI chips

Samsung Electronics is nearing certification from Nvidia for its next‑generation HBM4 high-bandwidth memory, a key component for AI processors, according to industry sources. The approval would allow Samsung to supply these advanced chips, strengthening its position in the rapidly growing AI hardware market.

HBM4 memory, a stacked DRAM technology, delivers extremely high data bandwidth and energy efficiency, crucial for feeding large volumes of data into Nvidia’s AI accelerators. Nvidia has relied mainly on SK Hynix for HBM memory, making Samsung’s entry a notable shift in the supply chain.

Reports indicate Samsung is in the final stage of testing after submitting initial HBM4 samples late last year. The company aims to begin mass production in February 2026, with shipments expected soon after certification. Positive feedback from customers on Samsung’s HBM4 design highlights its competitiveness in performance and reliability.

The development has already boosted investor confidence. Samsung’s shares in Seoul gained on news of the potential approval, as analysts see it as a step toward diversifying the supply of high-end AI memory and challenging SK Hynix’s dominance.

Also Read: Shadowfax IPO allotment done, 2.7x subscribed

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Corporate

Shadowfax IPO allotment done, 2.7x subscribed

Shadowfax Technologies Ltd has completed the allotment for its IPO, which attracted strong investor interest. The company’s public offering, valued at ₹1,907 crore, saw an overall subscription of 2.7 times, driven mainly by Qualified Institutional Buyers (QIBs), alongside notable retail participation. The IPO was open for bidding from January 20 to 22, 2026, and allotment was finalised on January 23.

Investors can check their allotment status through the registrar KFin Technologies or via the BSE and NSE websites. Those who did not receive an allocation will have their applications refunded in the coming days.

Shadowfax shares are scheduled to list on the Bombay Stock Exchange and National Stock Exchange on January 28, 2026. Grey market trends—a popular, though unofficial, indicator—suggest that shares could debut at or slightly below the issue price, reflecting cautious sentiment among investors.

The IPO price band was set at ₹118–₹124 per share, with retail investors required to buy a minimum lot of around ₹14,000. The company intends to use the funds to expand its logistics network, strengthen technology infrastructure, and support growth initiatives in its delivery business.

With the allotment completed and refunds underway for non-allocated applications, attention now turns to January 28, when trading begins. The subscription pattern highlighted strong institutional demand, with QIBs oversubscribing their portion, while the retail segment also showed solid participation.

Analysts note that the initial listing performance will be closely watched, as it will indicate investor confidence in Shadowfax’s expansion plans and operational model.

Also Read: Rupee slides to ₹92, raising costs for imports

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Beyond

Rupee slides to ₹92, raising costs for imports

Rupee fell sharply to a record low of ₹92 per US dollar on January 23, 2026, before recovering slightly to ₹91.88. Experts attribute the slide to foreign investors pulling out funds and continued strong dollar demand from importers.

This depreciation affects both households and businesses. Imported goods, particularly crude oil, electronics, and machinery, are becoming more expensive. With India importing nearly 85% of its crude oil, fuel prices and inflation are expected to rise. Families face higher costs for overseas travel and education, while Non-Resident Indians (NRIs) benefit slightly as their remittances now convert into more rupees.

Exporters stand to gain from the weaker rupee, receiving more rupees for every dollar earned. However, companies that rely heavily on imported materials may see their benefits limited. Sectors such as textiles, which are less import-dependent, are likely to benefit the most.

Looking ahead, a Business Standard poll suggests the rupee could trade near ₹92.50 per dollar by the end of March 2026 if current trends persist and foreign outflows continue. Analysts point to delays in a US‑India trade deal and ongoing global uncertainties as key factors keeping the currency under pressure.

The Reserve Bank of India (RBI) has intervened at times to curb volatility, but broader global and domestic forces continue to influence the rupee. Policymakers face the challenge of balancing currency stability with inflation control and economic growth, as households, businesses, and exporters navigate the effects of a weaker rupee.

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Beyond

Canada rejects China deal after 100% tariff threat

Canada has ruled out any free trade agreement with China, after US President Donald Trump threatened to impose 100 per cent tariffs on Canadian goods if Ottawa went ahead. Prime Minister Mark Carney clarified that Canada remains committed to its North American trade agreements and has no intention of pursuing a broad pact with Beijing.

Speaking on Sunday, January 25, Carney emphasised that Canada’s limited engagement with China has focused only on resolving specific tariff disputes, not on negotiating a full-fledged trade deal. “We respect our commitments under the USMCA. We are not planning any free trade agreements with China or other non-market economies,” he said.

The remarks follow a week of tense exchanges between Washington and Ottawa. Trump’s warnings came after reports that Canada was exploring closer trade ties with China, prompting fears in the US that Chinese goods could gain easier access to North American markets through Canada.

Recent agreements with China have been narrow and targeted. Canada reduced tariffs on a small number of Chinese electric vehicles, while Beijing agreed to ease duties on some Canadian exports, including canola and seafood. These measures, Carney stressed, are far from a comprehensive trade deal.

The US threat has added strain to Canada-US trade relations, but Carney’s firm stance sends a clear message: Ottawa seeks to balance global economic ties while honouring obligations to its North American partners. Analysts say the move highlights Canada’s careful approach to diplomacy, ensuring it can engage with global markets without triggering conflicts with the US.

Also Read: India to cut EU car import duties