Author: Staff Writer

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Beyond

Apple shares India financial data in CCI probe

Apple has agreed to provide financial details of its India operations to the Competition Commission of India (CCI), marking a significant development in a long-running antitrust investigation into the company’s App Store business practices. The decision is expected to help the regulator move the case closer to a final ruling.

The investigation began after complaints that Apple abused its dominant position in the market for app distribution on iPhones. The CCI’s probe examined Apple’s App Store policies, including its requirement that developers use the company’s in-app payment system for digital purchases. Critics argue that these rules limit competition and increase costs for app developers.

Apple has consistently denied any wrongdoing and has maintained that its App Store policies are designed to protect user privacy, security and the overall customer experience. The company had previously resisted sharing detailed financial information, arguing that legal issues related to India’s competition law needed to be resolved first.

However, following directions from the courts and repeated requests from the regulator, Apple has now agreed to submit India-specific financial data. The information is considered important because it will help the CCI assess the company’s revenues and determine any financial penalties if violations are ultimately established.

The case is being closely watched by technology companies, app developers and regulators around the world. India is one of Apple’s fastest-growing markets, and any decision could have implications for how digital platforms operate in the country

While the investigation is yet to reach its final stage, Apple’s agreement to provide the requested financial information removes a major hurdle and is expected to accelerate the regulator’s review.

Also Read: Cabinet clears ₹10,000 cr ATF support fund

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Corporate

SpaceX targets record $75 bn IPO

SpaceX is reportedly preparing for a record-breaking initial public offering (IPO) that could raise as much as $75 billion, making it the largest stock market debut in history. Reports suggest the offering could value the company at around $750 billion, highlighting its rapid growth and dominance in the global space industry.

According to reports, the company plans to use the proceeds to accelerate investments in its satellite network, rocket launches and artificial intelligence initiatives. The move comes as SpaceX continues to expand its Starlink internet business and develop next-generation space transportation systems.

Founded by Elon Musk in 2002, SpaceX has transformed the commercial space industry through reusable rockets and cost-effective launch services. The company has become a key partner for NASA and various government agencies while also serving commercial customers worldwide.

A major focus of the proposed fundraising is expected to be Starlink, SpaceX’s satellite-based internet service. The network has grown rapidly in recent years and now serves millions of users across multiple countries. Additional capital could help the company deploy more satellites, improve coverage and expand into new markets.

Reports also suggest that SpaceX plans to invest heavily in artificial intelligence technologies. AI is increasingly being used in satellite operations, mission planning, autonomous systems and data analysis. The company sees AI as a critical component of its long-term growth strategy.

The proposed IPO reflects strong investor interest in both the space sector and AI-driven technologies. Market analysts say SpaceX’s dominant position in commercial launches and satellite communications makes it one of the most closely watched companies globally.

While the company has not officially disclosed the expected share price, reports indicate that the IPO could be structured around a valuation of approximately $750 billion. Final pricing and the number of shares to be offered will depend on market conditions and regulatory approvals.

If completed, the IPO would mark a significant milestone for SpaceX and the broader space industry.

Also Read: Uber caps employee use of AI tools

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Corporate

Sensex ends Flat, Nifty holds at 23,400

The markets remained unchanged on Thursday , where the BSE Sensex settled flat, while the NSE Nifty managed to close above the 23,400 mark.

Market participants remained on the sidelines as they awaited clarity from the RBI on interest rates, inflation and economic growth. Expectations of a possible rate cut and signals on the central bank’s future policy stance kept trading activity subdued.

Despite the lacklustre performance of the broader market, buying interest was visible in select sectors. Consumer durables and capital goods stocks emerged as the top performers, with stocks such as Titan, Havells India and Siemens posting gains on optimism surrounding domestic consumption and infrastructure spending. Some auto and industrial stocks also witnessed buying interest during the session.

However, weakness in heavyweight banking and information technology counters restricted the market’s upside. Shares of Infosys, HDFC Bank and Tata Consultancy Services (TCS) were among the key laggards, weighing on benchmark indices. Uncertainty in global markets and caution ahead of key policy announcements further dampened investor sentiment.

Among individual stocks, Rajesh Exports remained in focus following regulatory developments involving its promoter. Renewable energy company Suzlon Energy also attracted attention due to strong trading volumes and continued investor interest.

The broader market showed mixed trends, with mid-cap and small-cap stocks witnessing stock-specific movements. Investors remained selective, favouring companies expected to benefit from India’s economic growth and government-led spending initiatives.

Market experts said the RBI’s policy outcome will be closely watched for indications on borrowing costs, liquidity conditions and the overall economic outlook. Any supportive measures from the central bank could boost sentiment, particularly in rate-sensitive sectors such as banking, automobiles and real estate.

Global cues remained mixed as investors tracked developments related to US interest rates, geopolitical tensions and commodity prices. These factors contributed to the cautious mood across emerging markets.

Also Read: Uber caps employee use of AI tools

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Technology

Cisco lunches AI cybersecurity platform

Cisco has launched a new AI-powered platform designed to help businesses and governments manage and protect critical IT infrastructure as cyber threats become increasingly sophisticated. The announcement reflects the growing role of artificial intelligence in cybersecurity and enterprise technology.

Called Cloud Control, the platform enables organisations to build, deploy and manage AI agents that can monitor networks, detect threats and respond to cyberattacks automatically. Cisco says the technology is designed to help security teams operate at machine speed as hackers increasingly use AI tools to carry out attacks.

The company believes traditional security approaches are no longer sufficient in an era where cybercriminals can use AI agents to scan systems, identify vulnerabilities and launch attacks at scale. By using AI-powered defenders, businesses can automate many routine security tasks and respond more quickly to emerging threats.

Cisco executives said the platform marks a shift from human-scale cybersecurity operations to machine-scale defence. The AI agents can continuously monitor infrastructure, analyse suspicious activity and take action to neutralise threats before they cause significant damage.

To support the development of these AI agents, Cisco is integrating AI coding tools into the platform, beginning with OpenAI’s Codex. The company also plans to launch a marketplace later this year where third-party developers can offer AI-powered applications and security tools.

Initially available in North America, the platform is expected to become an important part of Cisco’s broader AI and cybersecurity strategy. The company has been investing heavily in technologies that help organisations secure increasingly complex digital environments.

Also Read: FirstClub valuation doubles to $255 mn

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Technology

Meta rolls out AI agents for businesses

Meta has unveiled a new generation of AI agents for businesses, marking a major step in the company’s efforts to expand its artificial intelligence offerings beyond consumer applications. Announcing the launch, Meta CEO Mark Zuckerberg said AI-powered business assistants could eventually handle a wide range of operational tasks, helping companies improve efficiency and customer engagement.

The AI agents are now available globally and can be deployed across Meta’s platforms, including WhatsApp, Facebook and Instagram. Businesses can use them to answer customer queries, provide product recommendations, assist with purchases, schedule appointments, track orders and support marketing campaigns. The tools are designed to operate around the clock, enabling companies to respond to customers even outside regular business hours.

Meta said businesses can customise the AI agents using information about their products, services and brand identity. This allows the assistants to provide more accurate and personalised responses while maintaining a consistent customer experience. The company believes the technology will be particularly useful for small and medium-sized businesses that may not have dedicated customer support teams.

Speaking about the launch, Zuckerberg said AI agents could become as common for businesses as websites or email accounts are today. He suggested that in the future, companies may rely on AI assistants to manage customer interactions, generate leads, handle routine administrative work and support sales efforts.

The rollout is part of Meta’s broader strategy to build new revenue streams and strengthen its position in the rapidly growing AI market. While advertising remains the company’s primary source of income, Meta is increasingly investing in AI-powered products and services for both consumers and businesses.

Industry analysts view the launch as an important move in the competition among major technology companies to commercialise generative AI. Firms such as Google, Microsoft and OpenAI are also developing AI tools aimed at improving workplace productivity and customer service.

Meta said the new AI agents are designed to learn from company information and provide personalised responses to customers. As businesses continue to adopt automation technologies, the company expects AI assistants to play an increasingly important role in everyday operations, helping organisations save time, reduce costs and improve customer satisfaction.

Also Read: SEBI bars Rajesh Exports promoter

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Corporate

Coralogix raises $200 mn during AI boom

Coralogix, a leading observability and data monitoring company, has raised $200 million in a fresh funding round as businesses increasingly invest in artificial intelligence and cloud infrastructure. The funding reflects strong investor confidence in companies providing tools that help organisations monitor, secure and manage complex AI systems.

The company, which serves customers across multiple industries, said demand for observability solutions has surged as enterprises adopt AI applications at a rapid pace. Observability tools help businesses track the performance of software, cloud systems and AI models, enabling them to identify issues, improve reliability and maintain security.

According to company executives, AI adoption is creating new challenges for businesses, particularly in areas such as security, compliance and system reliability. As AI models become more widely used, organisations require advanced monitoring tools to ensure applications operate efficiently and safely.

Coralogix plans to use the new capital to expand its product offerings, accelerate innovation and strengthen its presence in key markets, including India. The company sees significant growth opportunities in the country as organisations increase spending on digital transformation, cloud computing and artificial intelligence technologies.

India has emerged as a major focus market for Coralogix. The company plans to deepen its investments in the country by expanding its workforce, increasing customer engagement and supporting enterprises looking to deploy AI at scale. Executives noted that Indian businesses are increasingly seeking solutions that provide greater visibility into their technology infrastructure.

The latest funding round underscores growing investor interest in AI infrastructure companies that provide essential services behind the scenes. As enterprises continue integrating AI into their operations, firms like Coralogix are expected to play an increasingly important role in helping businesses manage the complexity of modern technology systems.

Also Read: SEBI bars Rajesh Exports promoter

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1 Minute-Read

Pune IT firm closes overnight, CEO held

A Pune-based IT company abruptly shut down, leaving around 700 employees jobless and triggering a police investigation. Workers who arrived at the office found it locked and claimed they had received no prior notice about the closure.

Many alleged that salaries had been delayed for months despite repeated assurances from management. Following complaints, police arrested CEO Harshal Thakre on charges related to alleged financial irregularities and cheating.

Authorities are examining the company’s records to determine the extent of wrongdoing. Employees are now seeking unpaid salaries while searching for new job opportunities.

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Beyond

SEBI bars Rajesh Exports promoter

The Securities and Exchange Board of India (SEBI) has barred the promoter of Rajesh Exports from accessing the securities market after alleging large-scale misrepresentation of the company’s revenue figures.

In an interim order, SEBI said the Bengaluru-based gold exporter and jewellery manufacturer overstated its revenue by more than ₹15 lakh crore over multiple financial years. According to the regulator, the company reported sales transactions that lacked genuine economic substance, resulting in an inflated picture of its business operations and financial performance.

SEBI’s investigation found that a significant portion of the reported turnover came from transactions involving related entities and circular trading arrangements. The regulator said these transactions appeared to have been structured mainly to inflate reported revenues rather than reflect actual business activity.

The market watchdog stated that such disclosures may have misled investors, analysts and shareholders by portraying Rajesh Exports as a much larger business than it actually was. SEBI stressed that accurate financial reporting is essential for maintaining investor confidence and ensuring fair functioning of capital markets.

As part of the interim action, the promoter has been restrained from buying, selling or dealing in securities until further orders. SEBI has also launched a detailed investigation to examine the extent of the alleged violations and determine whether other individuals or entities were involved.

Rajesh Exports is one of India’s largest gold refining and jewellery companies and has often reported among the highest revenues in the corporate sector. Its turnover figures had frequently drawn attention because of their scale relative to the company’s profitability.

SEBI clarified that the interim order is based on preliminary findings and does not amount to a final determination of wrongdoing. The company and its promoter will have an opportunity to present their responses during the investigation.

The case has attracted significant attention due to the scale of the alleged revenue overstatement. Investors and market participants will closely monitor further developments as SEBI’s probe progresses and more details emerge about the company’s financial reporting practices.

Also Read: Gold falls to ₹1,56,210, silver trades at ₹2,79,900

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Beyond

Gold falls to ₹1,56,210, silver trades at ₹2,79,900

Gold prices edged lower in the domestic bullion market on Thursday, while silver prices also witnessed a slight decline amid mixed global cues. According to market data, the price of 24-carat gold fell by ₹10 to ₹1,56,210 per 10 grams, while silver declined ₹100 to ₹2,79,900 per kilogram.

The price of 22-carat gold also recorded a marginal drop, with rates easing across major cities including Delhi, Mumbai, Kolkata and Chennai. Market participants said retail demand remained steady, though buyers continued to track price movements before making fresh purchases.

In the international market, gold prices found support from a weaker US dollar, which increased the appeal of the yellow metal among global investors. At the same time, hopes of easing tensions in the Middle East and softer crude oil prices influenced overall sentiment in commodity markets.

While gold continues to benefit from its status as a safe-haven asset, improving geopolitical conditions and reduced inflation concerns have capped significant gains. Silver, which is influenced by both investment demand and industrial consumption, also traded in a narrow range.

On the Multi Commodity Exchange (MCX), bullion futures remained largely stable, reflecting cautious investor sentiment. Traders are closely monitoring developments related to global economic growth, movements in the US dollar and geopolitical events for further direction in precious metal prices.

Despite the day’s marginal decline, gold continues to trade near record-high levels, supported by strong investment demand and global uncertainty. Silver, meanwhile, remains underpinned by its growing use in industrial sectors, particularly renewable energy and electronics.

Any major changes in monetary policy outlooks or geopolitical developments could impact the direction of gold and silver prices.

Also Read: Sensex dips beyond 100 points, Nifty slips below 23,400

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1 Minute-Read

Alphabet plans $80 bn fundraise to accelerate AI expansion

Alphabet, the parent company of Google, plans to raise $80 billion through stock sales to fund its growing artificial intelligence ambitions.

The company said the proceeds will be used to expand AI infrastructure, including data centres, computing power and advanced AI systems. Reports indicate that the fundraising package includes a $10 billion investment from Berkshire Hathaway.

The move reflects the enormous capital requirements of the global AI race as technology giants compete to build next-generation AI platforms. The announcement highlights Alphabet’s commitment to scaling its AI capabilities to meet rapidly growing demand.