Author: Staff Writer

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Corporate

JSW Steel Q3 net profit rises 2.4x to Rs 2,410 cr

JSW Steel Ltd reported a strong increase in its consolidated net profit for the third quarter of the 2025–26 fiscal year, surpassing market expectations. The company posted a net profit of Rs 2,410 crore for the quarter ending December 31, 2025, more than double the Rs 719 crore recorded in the same period last year. The growth was driven by higher steel sales volumes and the recognition of one-time tax benefits.

Revenue from operations rose to approximately Rs 45,200–45,990 crore, up around 10–11 percent year‑on‑year. Saleable steel sales increased roughly 14 percent to 7.64 million tonnes, while crude steel production grew about 6–7 percent. Strong domestic demand from construction, automotive, and other sectors supported this growth.

The profit surge was further aided by the recognition of deferred tax assets of about Rs 1,439 crore, linked to unabsorbed depreciation in Bhushan Power and Steel Ltd. This accounting adjustment significantly boosted reported earnings for the quarter.

On the operational side, consolidated EBITDA rose about 20 percent year‑on‑year to Rs 6,496 crore. Despite the increase, margins narrowed slightly compared with the previous quarter, reflecting pressure on steel prices and rising input costs.

Looking ahead, JSW Steel plans continued investment in capacity expansion, including a major greenfield project in Odisha and potential growth at its Dolvi plant in Maharashtra.

Also Read: Adani Group fully acquires IANS

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Corporate

Infosys to recruit 20,000 freshers in FY27

Bengaluru-based IT major Infosys is gearing up for one of its largest campus recruitment drives, planning to hire 20,000 fresh graduates in the financial year 2027 (FY27). CEO Salil Parekh announced the initiative during the World Economic Forum (WEF) in Davos, emphasizing the growing demand for talent in artificial intelligence (AI)–driven services and digital transformation projects.

The company’s recruitment drive, covering April 2026 to March 2027, comes amid global tech layoffs and uncertainty in the IT sector. Despite this, Infosys has maintained strong hiring momentum, with around 18,000 freshers onboarded in the first nine months of FY26. The total fresher intake for the current fiscal is expected to reach 20,000.

Parekh explained that the surge in AI adoption by clients is creating new work opportunities, even as some traditional IT services face pressure. Companies are increasingly deploying AI agents and foundation models at scale, particularly in financial services, where Infosys is emerging as a preferred partner. “We are working on real, scalable AI projects with 15 of our 25 largest financial services clients,” Parekh noted.

He added that pricing models for AI-driven projects are still evolving, as clients balance human and AI resources. However, clearer frameworks are expected as adoption grows. Economic signals, especially from the US, are also encouraging cautious optimism for tech spending.

Infosys’s planned FY27 hiring reflects its strategy to align workforce expansion with AI-led demand, ensuring it remains competitive despite global headcount reductions in the IT industry. This move underscores the company’s focus on modernizing services and capturing opportunities in emerging technology areas.

The recruitment drive also signals confidence in India’s talent pool, with the company aiming to equip fresh graduates with AI skills and integrate them into projects that support digital transformation across sectors.

Also Read: Arijit Basu named part‑time chairman of IndusInd Bank

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Corporate

Adani Group fully acquires IANS

The Adani Group has completed the full acquisition of Indo-Asian News Service (IANS) after purchasing the remaining 24 per cent stake, making the news agency a wholly owned subsidiary of the conglomerate’s media arm.

The transaction was carried out through AMG Media Networks Ltd (AMNL), a subsidiary of Adani Enterprises Ltd, on January 21, 2026. While the group confirmed the completion of the takeover through regulatory disclosures, the financial details of the deal were not made public. With this move, IANS India Private Limited has become a step-down subsidiary of Adani Enterprises.

Adani’s association with IANS began in December 2023, when AMG Media Networks acquired a 50.50 per cent controlling stake, marking the group’s entry into the news agency space. In January 2024, AMNL further increased its holding to 76 per cent of voting shares, along with an overwhelming majority of non-voting shares. The latest acquisition involved the purchase of the entire remaining shareholding, completing the full takeover.

Founded in 1986, IANS is among India’s well-established news agencies, providing content to print, television and digital media platforms across the country. It offers news and features in multiple languages and serves a broad client base that includes newspapers, television channels, websites and mobile platforms.

The full acquisition of IANS fits into the Adani Group’s larger strategy to expand its presence in the media and information sector, a diversification drive that began in 2022. AMG Media Networks was set up as the group’s dedicated media investment arm to build a strong footprint across news, digital publishing and broadcasting.

Over the past few years, the Adani Group has steadily expanded its media portfolio. It acquired a controlling stake in NDTV, invested in Quintillion Business Media, which operates the business news platform BQ Prime, and strengthened its digital and broadcast capabilities. The complete ownership of IANS adds a traditional newswire to this portfolio, giving the group access to a key source of syndicated news content.

Industry observers say that owning a news agency such as IANS allows the group to strengthen its position across the content creation and distribution ecosystem, complementing its existing media assets while reinforcing its long-term diversification plans.

Also Read: TikTok strikes US deal to stay online

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Leaders

SAT orders ₹100 cr deposit for Avadhut Sathe

The Securities Appellate Tribunal (SAT) has granted partial relief to trading educator Avadhut Sathe and his Avadhut Sathe Trading Academy (ASTA) in an ongoing case with market regulator SEBI, directing them to deposit ₹100 crore while allowing the regulator’s probe to continue.

SEBI had passed an interim order in December alleging that Sathe and his academy were providing unregistered investment advisory and research analyst services in the guise of trading education. According to SEBI, the academy collected nearly ₹601 crore from more than 3.3 lakh participants through various courses and programmes. The regulator barred Sathe and ASTA from accessing the securities market, froze bank and demat accounts, and ordered the impounding of about ₹546 crore, which it termed unlawful gains.

Challenging the order before SAT, Sathe argued that his academy only offered educational services and did not provide stock tips or investment advice. He also contended that SEBI’s action was excessive and was taken without giving him a proper hearing.

In its ruling, the SAT bench acknowledged that SEBI had made out a prima facie case warranting further investigation. However, it said the full amount sought by SEBI need not be secured at this interim stage. The tribunal noted that significant sums had already been paid by the academy in the form of income tax and GST, and that the group also owned fixed assets of substantial value.

Balancing these factors, SAT directed Sathe and ASTA to deposit ₹100 crore in a fixed deposit, with a lien marked in SEBI’s favour. The tribunal also restrained them from selling or creating third-party rights over their fixed assets during the pendency of the proceedings.

The order provides conditional relief: once the ₹100-crore deposit is made and a compliance affidavit is filed, restrictions on bank accounts and certain market-related prohibitions will be eased. However, the tribunal did not quash SEBI’s interim order or its findings, making it clear that the investigation and adjudication process will continue.

SAT also granted the academy time to submit its reply to SEBI’s show-cause notice. The regulator will proceed with further action based on the outcome of the ongoing inquiry, keeping investor protection at the centre of the case.

Also Read: TikTok strikes US deal to stay online

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1 Minute-Read

SEC seeks email notice for Adanis

The US Securities and Exchange Commission (SEC) has sought court approval to serve summons via email to Gautam Adani and his nephew Sagar Adani.

India’s Ministry of Law and Justice twice refused to deliver the legal notices under the Hague Convention. The summons relate to civil charges alleging investor deception and a bribery scheme linked to a bond offering by Adani Green Energy.

The SEC’s request comes after more than a year of stalled attempts to serve the notices through official diplomatic channels.

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Technology

TikTok strikes US deal to stay online

TikTok has reached an agreement that allows it to continue operating in the United States, avoiding a potential nationwide ban. ByteDance, the Chinese parent company, will retain a minority stake in a newly formed US entity, while American and international investors hold the majority share.

The new company, TikTok USDS Joint Venture LLC, will oversee the platform’s U.S. operations for over 200 million users. About 80 percent of the venture is owned by U.S. and global investors, while ByteDance retains 19.9 percent. Key stakeholders include Oracle, Silver Lake, Abu Dhabi’s MGX, and Michael Dell’s investment firm.

Leadership changes include Adam Presser as CEO of the US operations, with Will Farrell as chief security officer. TikTok’s global CEO, Shou Chew, will join the board.

The deal introduces stricter data and security measures. US user data will be stored on domestic servers, and the recommendation algorithm will be retrained using US data, addressing long-standing concerns over Chinese access.

This arrangement satisfies US legal requirements set in 2024, which demanded TikTok divest from ByteDance or face a ban. Both US and Chinese regulators have approved the plan, bringing an end to years of uncertainty over TikTok’s future in America.

The agreement ensures the popular short-video app can continue serving its US audience while meeting security and privacy standards demanded by lawmakers.

Also Read: Micron’s Gujarat chip plant to start operations next month

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Corporate

Micron’s Gujarat chip plant to start operations next month

Micron Technology’s semiconductor assembly and testing plant in Sanand, Gujarat, is scheduled to begin commercial production next month, marking a key development in India’s semiconductor manufacturing programme. The facility is part of Micron’s $2.75 billion investment in India and is the first major project to come onstream under the government’s semiconductor incentive scheme.

Union Minister for Electronics and Information Technology Ashwini Vaishnaw said the plant has completed its pilot production phase and is ready to transition to full-scale commercial operations. The project focuses on assembly, testing, marking and packaging (ATMP) of memory chips, which are used in mobile phones, data centres, automobiles, consumer electronics and industrial equipment.

The Sanand facility is being developed with financial support from the Centre and the Gujarat government. Under the incentive framework, the central government is providing up to 50% of the project cost, while the state is offering additional subsidies, infrastructure support and policy incentives.

According to the government, the Micron plant will manufacture high-value memory products and handle complex chip packaging processes. While the facility does not involve wafer fabrication, it is seen as a critical first step in building a domestic semiconductor manufacturing ecosystem. Officials have stated that advanced packaging and testing capabilities are essential for India to integrate into global semiconductor supply chains.

The project is expected to generate several thousand direct and indirect jobs and support the development of a local supplier base for materials, equipment and logistics. It is also expected to encourage global and domestic firms to invest in related segments of the semiconductor value chain.

India currently has a strong presence in semiconductor design but relies heavily on imports for chip manufacturing. With Micron’s plant coming online, the government expects a gradual shift towards local production, reducing import dependence and improving supply chain resilience.

The government is also working with international partners, including the US, Japan, South Korea and the European Union, to secure access to critical materials and technologies required for semiconductor manufacturing.

Also Read: US natural gas trading hits all-time high

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Corporate

Trump sues JPMorgan for $5bn over account closure

US President Donald Trump has filed a lawsuit seeking $5 billion in damages against JPMorgan Chase and its chief executive Jamie Dimon, accusing the bank of unfairly closing his accounts after the January 6, 2021 Capitol riot. The case was filed in a Florida state court and centres on what Trump describes as politically motivated “debanking”.

According to the lawsuit, JPMorgan shut down several accounts linked to Trump, his family and Trump Organisation businesses in early 2021. The bank reportedly gave a 60-day notice but did not provide a clear reason for the closures. Trump’s legal team argues that the decision caused serious disruption to his business operations and damaged his reputation, forcing him to urgently find alternative banking arrangements.

Trump alleges that the account closures were not based on financial or legal risks, but on his political views and public profile following the Capitol violence. The lawsuit claims JPMorgan acted in bad faith and unfairly discriminated against him. It also accuses the bank of breaching state consumer protection laws and harming Trump’s business interests by allegedly discouraging other banks from working with him.

The case names both JPMorgan and its CEO Jamie Dimon, pointing to Dimon’s past public criticism of Trump and his policies. Trump’s lawyers argue that large financial institutions should not have the power to deny basic banking services based on political beliefs.

However, JPMorgan has strongly denied the allegations. In a statement, the bank said the lawsuit is without merit and insisted that it does not close accounts for political reasons. JPMorgan stated that decisions to exit client relationships are based on regulatory, legal and risk considerations, especially in situations that could expose the bank to scrutiny or compliance issues.

The lawsuit adds to a wider debate in the US over claims of “debanking”, where individuals or organisations argue they have been denied financial services because of their political or ideological positions. Trump has repeatedly raised this issue, calling for stronger protections to prevent banks from excluding customers on non-financial grounds.

Also Read: Snapchat introduces smarter family safety tools

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Corporate

Sensex rises 398 points, Nifty crosses 25,300

Markets ended Thursday on a strong note, with the Sensex rising 398 points to 85,764 and the Nifty climbing above 25,300. The gains were led by robust domestic earnings and buying in banking and auto sectors.

Major gainers included Bajaj Consumer Care, Hero Motocorp, Samvardhana Motherson, Ashok Leyland, and Exide Industries, reflecting renewed investor interest in cyclical and consumer stocks. PSU banks also contributed to the rally, supported by healthy quarterly results.

On the other hand, stocks like Tata Steel, JSW Steel, KEI Industries, and select IT names faced profit booking, which kept overall market breadth slightly positive but cautious.

Corporate earnings played a key role in sentiment. Bajaj Consumer Care posted an 83% jump in quarterly profit, while Jindal Stainless reported a 26% rise in earnings compared with the year‑ago period. KEI Industries saw strong revenue growth but traded lower, reflecting mixed investor reactions.

In broader markets, Biocon gained after acquiring the remaining stake in Biocon Biologics, while Bank of India shares rose on better asset quality and profit growth.

Sectorally, the auto, banking, and PSU indices were the top performers, each gaining around 1–2%, while metal and IT indices lagged due to profit booking and global cues.

Also Read: Rupee slides 1% to 91.6 per dollar

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1 Minute-Read

Wipro CEO sees AI boosting IT demand

Wipro CEO Srinivas “Srini” Pallia said Indian IT services are seeing higher demand as companies move from small AI experiments to large-scale implementations, speaking at the World Economic Forum in Davos.

Wipro is bidding for both major and minor AI projects as clients adopt technology at different paces. Despite some pricing pressures due to faster deliveries with smaller teams, Pallia expects AI-driven cost savings to encourage more projects.

While overall tech budgets may remain stable, spending is increasingly focused on AI and efficient IT services. Wipro has invested $1 billion to enhance its AI offerings.