Author: Staff Writer

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Corporate

Sensex falls over 450 points, Nifty drops below 24,250

In early trade on Wednesday, the BSE Sensex declined more than 450 points to around 77,800, while the NSE Nifty50 slipped over 140 points to trade below the 24,250 mark. The weakness followed a mixed trend in Asian markets as investors assessed the impact of escalating global tensions on energy prices and economic growth.

Higher crude prices remain a key concern for India, one of the world’s largest oil importers. A sustained increase in oil prices could push up inflation, widen the trade deficit and increase input costs for companies, prompting investors to adopt a cautious approach.

Selling pressure was visible across banking, financial, auto, metal and oil-linked stocks, while the broader market also remained under pressure. Midcap and smallcap indices traded lower as investors booked profits after the recent rally.

Among individual stocks, Tech Mahindra and Titan were among the top gainers in early trade, benefiting from selective buying. Adani Enterprises and Bharat Electronics (BEL), meanwhile, figured among the biggest losers, weighing on the benchmark indices.

Investors are now keeping a close watch on geopolitical developments, movements in crude oil prices and the start of the June quarter earnings season for fresh market cues. Analysts expect volatility to persist in the near term but believe India’s strong domestic fundamentals, steady institutional inflows and hopes of healthy corporate earnings could lend support to the market over the medium term.

Also Read: Walmart cuts prices on thousands of everyday items

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Corporate

Sky to strike £1.6 billion ITV deal

Sky has agreed to acquire ITV in a deal worth around £1.6 billion, marking one of the biggest changes to the UK’s media industry in recent years. The agreement is expected to bring together two of Britain’s best-known broadcasters as they respond to growing competition from global streaming platforms.

Under the proposed transaction, ITV will become part of Sky while continuing to produce popular television programmes, live sports coverage and news content. The companies say the merger will combine their strengths in entertainment, streaming and advertising, allowing them to invest more in original programming and digital services.

Executives from both organisations described the agreement as an opportunity to create a stronger British media business capable of competing with international rivals. They believe combining content libraries, production expertise and technology will offer viewers more choice across television and streaming platforms.

The deal is expected to strengthen Sky’s position in sports broadcasting, entertainment and on-demand services. ITV’s well-known portfolio of dramas, reality shows and live events will complement Sky’s existing offerings, while advertisers could benefit from a broader audience reach across multiple platforms.

Despite the agreement, the acquisition must still receive approval from shareholders and UK regulatory authorities before it can be completed. Competition regulators are expected to examine the transaction closely to ensure it does not reduce consumer choice or limit competition in the broadcasting market.

Both companies have stressed that viewers will continue to enjoy their favourite programmes during the transition. They also said employees, creative partners and production teams will remain central to future growth plans, although some operational changes may be introduced after the merger is finalised.

The announcement reflects the rapid transformation of the television industry, where traditional broadcasters are increasingly joining forces to compete with global streaming giants. Industry analysts believe larger media companies are better placed to invest in technology, premium content and live sports rights.

Also Read: Nothing unveils Phone 4b and RCB edition

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Technology

Apple brings back card payments In India

Apple has restarted credit and debit card payments for App Store and iCloud purchases in India after a gap of nearly five years, following compliance with the Reserve Bank of India’s (RBI) card tokenisation requirements. The move brings relief to users who had been depending mainly on UPI, net banking and Apple Account balance for digital purchases.

The company has begun a phased rollout, allowing eligible Visa and Mastercard users to add their cards to Apple Accounts. These cards can now be used for App Store transactions, subscriptions such as iCloud+ and Apple Music, and other Apple services.

Apple had removed card payments from its Indian services after RBI introduced stricter rules for recurring online transactions. The regulations required companies to use tokenised card data instead of storing customers’ actual card details. They also introduced additional requirements around payment authorisation and data handling.

To meet these requirements, Apple adjusted its payment systems to align with India’s regulatory framework. Under the tokenisation system, card details are replaced with secure digital tokens, reducing the risk of exposing sensitive financial information during transactions.

The return of card payments is also being viewed as a possible step towards Apple’s long-awaited entry into India’s digital payments market with Apple Pay. However, the company still needs to complete discussions with banks and secure necessary approvals before any official launch.

For Indian Apple users, the change means more flexibility while paying for apps, subscriptions and digital services. Card users who prefer credit or debit cards for rewards, expense tracking or automatic payments will now have another option alongside UPI and other existing payment methods.

The development highlights how global technology companies are adapting their payment platforms to meet India’s evolving digital payment rules, while regulators continue to prioritise security and consumer protection.

Also Read: Samsung posts 19-fold profit rise, AI fears hit stock

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Corporate

Samsung posts 19-fold profit rise, AI fears hit stock

Samsung Electronics has reported a sharp jump in profits for the second quarter, driven by strong demand for artificial intelligence-related chips and improved semiconductor performance. However, the upbeat earnings outlook failed to impress investors, with the company’s shares falling amid concerns that the AI boom may slow.

Samsung estimated that its operating profit surged nearly 19 times from a year earlier, exceeding market expectations. The strong performance was supported by higher demand for memory chips used in artificial intelligence servers, data centres and advanced computing systems.

The company’s semiconductor business has benefited from the rapid expansion of AI infrastructure worldwide. Growing demand for high-bandwidth memory (HBM) chips, which are essential for advanced AI processors, has helped major chipmakers recover from the downturn that affected the industry earlier.

Despite the strong profit forecast, Samsung’s shares declined as investors focused on concerns over the sustainability of AI-driven growth. Market participants are worried that heavy investments in artificial intelligence infrastructure may eventually slow, affecting future demand for advanced chips.

Analysts said investors are looking beyond short-term earnings and evaluating whether AI-related spending can continue at the current pace. The technology sector has seen massive investment in AI data centres and computing power, but questions remain over long-term returns.

Samsung has been working to strengthen its position in the AI semiconductor market, competing with global rivals in memory technology and advanced chip manufacturing. The company is investing heavily to expand production capacity and improve its high-performance memory chip offerings.

The latest results highlight the growing importance of artificial intelligence for the global semiconductor industry. While chip demand remains strong, investors are becoming more selective and closely monitoring whether companies can convert AI investments into sustainable profits.

Samsung’s performance reflects the wider technology market trend: strong earnings linked to AI growth, but increasing investor caution over whether the current boom can maintain its momentum.

Also Read: Xbox CEO Asha Sharma announces 3,200 job cuts

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Leaders

Xbox CEO Asha Sharma announces 3,200 job cuts

Xbox CEO Asha Sharma has announced a major restructuring of Microsoft’s gaming division, with around 3,200 employees set to lose their jobs as the company seeks to build a more focused and sustainable business.

In a message to employees, Sharma said the decision followed lessons from recent investments and highlighted the need to improve efficiency across Xbox operations. She reportedly noted that some investments had not delivered expected returns, with the company losing “64 cents for every dollar” invested in certain areas.

The layoffs will impact teams across Xbox, including game studios and development operations. Microsoft is also reviewing its studio portfolio, with some projects being cancelled or reconsidered as the company prioritises franchises and services with stronger growth potential.

Sharma said the restructuring was aimed at creating a more agile organisation and allowing teams to focus on projects that provide greater value to players and the business.

The move comes as Microsoft continues to reshape its gaming strategy after major investments, including the acquisition of Activision Blizzard and expansion of Xbox Game Pass. The company has been pushing beyond console sales through cloud gaming, subscriptions and multi-platform game releases.

However, the gaming industry has faced growing pressure due to rising development costs, slower market growth and changing player habits. Several global gaming companies have announced layoffs and project cancellations as they attempt to control expenses.

Also Read: Microsoft cuts 4,800 jobs as Xbox restructures

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Beyond

Microsoft cuts 4,800 jobs as Xbox restructures

Microsoft has announced another round of job cuts, affecting thousands of employees as the technology giant restructures its gaming business and reviews operations across the company.

The company is cutting around 4,800 jobs, representing about 2.1% of its global workforce, according to reports. The layoffs are expected to impact several divisions, including the Xbox gaming unit, as Microsoft looks to streamline costs and improve efficiency.

The latest reductions come as Microsoft continues to reshape its gaming strategy following its major acquisition of Activision Blizzard and efforts to expand its gaming ecosystem beyond traditional consoles. The company has been reassessing its studio portfolio, with some game development teams facing closures, changes or possible spin-offs.

Microsoft’s Xbox division has undergone significant changes in recent months as the company focuses on cloud gaming, subscriptions and making games available across multiple platforms. The restructuring reflects a broader shift in the gaming industry, where companies are prioritising profitability, fewer large-scale projects and more sustainable development models.

Employees affected by the cuts are expected to receive support during the transition, while Microsoft said the decisions were taken to align resources with long-term business priorities.

The layoffs follow similar workforce reductions across the technology sector as companies continue to adjust after years of rapid expansion. Rising development costs, changing consumer behaviour and increased competition in gaming have pushed major firms to reassess spending.

For Xbox, the changes come at a crucial time as Microsoft competes with rivals in the console, cloud and digital gaming markets. The company has invested heavily in building a wider gaming ecosystem, but the industry slowdown has led publishers to become more selective about new projects.

Also Read: Saudi Arabia slashes crude prices

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Corporate

Sensex falls 104 points, Nifty slips below 24,400

The equity indices ended lower on Tuesday, snapping a four-session winning streak as investors booked profits in heavyweight stocks and remained cautious ahead of key global developments.

The BSE Sensex fell 104 points to close at 80,582, while the NSE Nifty 50 slipped below the 24,400 mark to settle at 24,379. The market opened on a firm note and traded in positive territory during the first half of the session before surrendering gains amid late selling in select blue-chip counters.

Shares of Trent, Reliance Industries, Kotak Mahindra Bank, Axis Bank and Bajaj Finance were among the biggest drags on the benchmark indices, pulling the market lower in the final hours of trade. Profit booking in these heavyweight stocks weighed on overall investor sentiment.

On the other hand, Eternal (formerly Zomato), Tata Steel, JSW Steel, Hindalco Industries and NTPC emerged among the top gainers, supported by buying in metal and select energy stocks. Strength in the metal pack helped limit broader market losses despite weakness in financial and consumer-focused counters.

Market participants remained cautious as they awaited further clarity on global trade developments, the trajectory of interest rates and the upcoming corporate earnings season. Investors also monitored movements in crude oil prices and foreign institutional investor (FII) activity, both of which continue to influence domestic market sentiment.

Broader markets presented a mixed picture, with sectoral indices closing in varied territory. Metal stocks outperformed, while financial services and consumer discretionary stocks witnessed selling pressure.

Despite Tuesday’s decline, market experts believe investors are likely to remain focused on quarterly earnings, domestic economic data and global cues over the coming weeks. They advise investors to stay selective and maintain a long-term approach as markets navigate near-term volatility and shifting global sentiment.

Also Read: India, Japan unite for UNICORN naval project

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Beyond

ARAI report flags E20 risks for older vehicles

An unpublished study by the Automotive Research Association of India (ARAI) has raised concerns over the use of E20 petrol in older vehicles, warning that the higher ethanol blend could gradually damage certain rubber components in fuel systems designed for E10 fuel.

The report says prolonged use of E20 may affect rubber parts such as hoses, seals, gaskets and O-rings in older four-wheelers, potentially increasing maintenance requirements over time. However, it found no evidence of damage to metallic fuel-system components.

The study also examined engine durability in passenger vehicles. While one BS-IV engine completed testing without major issues, a BS-VI turbocharged engine developed problems after around 265 hours of operation. Another manufacturer reported no abnormalities after 400 hours, whereas a separate test recorded an exhaust valve failure after nearly 809 hours. The report noted that standard durability tests usually continue for about 2,000 hours, making it difficult to directly link the failure to E20 fuel alone.

Two-wheelers performed better during the evaluation. Tests conducted by three manufacturers found no significant durability or performance issues, suggesting existing motorcycles and scooters are less likely to face compatibility concerns with E20 petrol.

The report also estimates that vehicles running on E20 could experience a fuel efficiency drop of around 2% to 6% compared with E10, depending on the vehicle and engine type.

The findings have sparked fresh discussion as India accelerates the nationwide rollout of E20 petrol. Owners of older vehicles have expressed concerns over possible repair costs and reduced mileage, while the automobile industry has defended the transition.

Leading manufacturers, including Maruti Suzuki, Hyundai, Toyota Kirloskar Motor, Hero MotoCorp, TVS Motor and Bajaj Auto, have said extensive laboratory tests, field trials and real-world data have not shown widespread damage in vehicles currently on the road. They also maintain that newer E20-compatible models have undergone comprehensive validation before being introduced.

Also Read: Trent reports 19% revenue growth in first quarter

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Corporate

Trent reports 19% revenue growth in first quarter

Shares of Trent Ltd. fell sharply on Tuesday even as the Tata Group retailer reported healthy business growth for the first quarter of FY27. The stock dropped nearly 11% after investors reacted to the company’s quarterly update.

Trent reported a 19% year-on-year increase in standalone revenue during the April–June quarter. While the growth remained strong, it was lower than what the market had expected, triggering profit booking in the stock.

The company said demand across its fashion brands remained healthy during the quarter. It also continued expanding its retail footprint by opening new stores under its popular Westside and Zudio brands, strengthening its presence across India.

Despite the positive business update, analysts said Trent’s premium valuation had raised investor expectations. As a result, even solid revenue growth was not enough to satisfy the market.

This sharp fall reflects short-term sentiment rather than any weakness in the company’s business. They said investors are closely watching the pace of growth after Trent delivered exceptional performance over the past few years.

The retailer remains optimistic about long-term growth, backed by rising demand for organised fashion retail and continued store expansion. Analysts also expect upcoming financial results to provide a clearer picture of the company’s profitability and margins.

Also Read: Kalyan Jewellers stock falls despite growth

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Corporate

Cochin Shipyard OFS opens today, shares slip 4%

The Centre has launched an Offer for Sale (OFS) to divest up to 5.04% stake in Cochin Shipyard Ltd, aiming to raise nearly ₹1,800 crore through the share sale. The two-day OFS opened for institutional investors on Monday, while retail investors can bid on Tuesday.

The government has fixed the floor price at ₹1,400 per share, a discount to the stock’s previous closing price to encourage wider participation. The offer includes a base sale of 2.5% equity, with an additional 2.54% stake available under the green shoe option if demand remains strong.

Following the announcement, shares of the state-owned defence and shipbuilding company came under pressure. The stock fell around 4% during trading as investors reacted to the discounted offer price and the increase in the number of shares available in the market.

Despite the short-term decline, market analysts said the OFS is part of the government’s broader disinvestment programme and does not alter Cochin Shipyard’s long-term business prospects. The company continues to benefit from a healthy order book, rising defence spending and increasing opportunities in commercial shipbuilding and ship repair.

The government currently holds a majority stake in Cochin Shipyard, and the latest OFS is expected to improve public shareholding while helping the Centre meet its disinvestment targets for the financial year.

Retail investors have been offered the opportunity to participate in the sale on the second day of the issue, with reservations made specifically for them. Analysts believe the discounted pricing could attract long-term investors despite the temporary weakness in the stock.

Cochin Shipyard remains one of India’s leading public sector shipbuilders, executing projects for the Indian Navy, Coast Guard and commercial shipping companies. Its strong execution capabilities and robust order pipeline continue to support investor confidence.

Also Read: Rupee gains 15 paise to 95.28