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HUL gets ₹1,560 cr tax demand

Hindustan Unilever Ltd (HUL), the Indian arm of global FMCG major Unilever, has received a tax demand of ₹1,560 crore (around $174 million) from Indian income tax authorities.

The order relates to the assessment year 2021–22 and includes issues linked to transfer pricing and certain tax disallowances.

In a regulatory filing, HUL said it disagrees with the assessment and will challenge the order through legal channels. The company added that the demand is not expected to have any significant impact on its financial position or ongoing operations. No penalties have been imposed at this stage.

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Technology

OpenAI launches ChatGPT Health linking medical data

OpenAI has introduced ChatGPT Health, a new feature designed to help people better understand and manage their health. This feature is part of the ChatGPT app and provides a secure place for users to upload their medical records and connect data from popular health and fitness apps such as Apple Health, MyFitnessPal, Fitbit, and Peloton.

By linking this information, ChatGPT Health can give personalized explanations of lab results, highlight important health trends, and offer guidance for doctor visits, diet, exercise, and insurance options. The feature is intended to make it easier for users to interpret their health data without replacing professional medical advice. OpenAI emphasizes that ChatGPT Health is not a diagnostic tool and should not be relied on for medical decisions.

To ensure privacy and safety, ChatGPT Health keeps medical information separate from regular AI chats and applies extra security measures. The data users provide is not used to train OpenAI’s main AI models, giving users more control over sensitive information.

The feature is being rolled out gradually, starting with a limited number of users on iOS and web platforms. Over time, OpenAI plans to expand access to more users. The company hopes this tool will make it easier for people to track their health, understand test results, and manage wellness goals in one place.

Experts note that while AI can help organize and explain health information, it cannot replace professional medical care. Users should still consult doctors and healthcare providers for diagnoses and treatment decisions.

ChatGPT Health represents a growing trend of integrating AI with personal health management, giving people more ways to stay informed and proactive about their well-being. By combining data from multiple sources, it aims to provide a comprehensive view of health, making wellness management simpler and more personalized.

This step marks OpenAI’s first major foray into a health-focused AI application, signaling the potential for AI tools to play a larger role in day-to-day health monitoring in the future.

Also Read: Reliance may return to Venezuelan oil market

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Corporate

Reliance may return to Venezuelan oil market

Reliance Industries Ltd (RIL), India’s largest private company and operator of the world’s biggest oil refinery complex, has indicated it may consider buying crude oil from Venezuela, if international regulations allow. The company is waiting for clear guidance on whether non‑US buyers can legally purchase Venezuelan crude before taking any steps.

RIL had previously stopped buying Venezuelan oil in 2025 after the United States imposed a 25 per cent tariff on imports from the South American country. The last shipment of Venezuelan crude to Reliance arrived in May 2025. Now, with the possibility of the rules changing, the company is evaluating whether it can re-enter this market.

The Gujarat refineries operated by Reliance are well-suited to process heavy, lower-cost grades of crude like Venezuela’s Merey oil. This makes Venezuelan crude particularly attractive, as it could provide both cost savings and operational advantages for the company.

The announcement has drawn attention from investors, with RIL shares expected to remain in focus as markets watch the company’s next moves. Analysts suggest that a return to Venezuelan oil could help Reliance manage refinery costs, while also tapping into a potential supply of discounted crude in a global market that is often volatile.

Other Indian refiners, such as Indian Oil Corporation (IOC) and Hindustan Petroleum Corporation Ltd (HPCL), are also likely to evaluate Venezuelan crude should sales to non-US buyers be allowed. The broader energy sector sees this as a potential opportunity for Indian refiners to access competitively priced heavy crude, which could ease supply pressures and reduce import costs.

For Reliance, this move is not just about expanding crude sources—it is also a strategic play to maximize refinery efficiency and maintain competitive advantage. As international trade regulations evolve, the company is treading carefully, balancing opportunities with compliance, while the market closely monitors developments.

With global oil markets fluctuating and international policies in flux, RIL’s cautious approach reflects both ambition and prudence, highlighting the company’s focus on strategic sourcing in a complex global landscape.

Also Read: Gold slips to ₹1,37,990, Silver fall to ₹2,51,900

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Beyond

Gold slips to ₹1,37,990, Silver fall to ₹2,51,900

Gold prices showed minor variation across major cities. In Mumbai and Kolkata, 24-carat gold was quoted at ₹1,37,990 per 10 grams, while Delhi saw slightly higher levels at ₹1,38,140. Chennai continued to trade at a premium, with 24-carat gold priced at ₹1,39,080 per 10 grams. Prices of 22-carat gold followed a similar trend across regions.

Silver prices also softened, with one kilogram declining by ₹100 to ₹2,51,900 in most markets. Chennai again reported higher rates, with silver trading at ₹2,71,900 per kilogram, reflecting regional demand and local levies.

Market participants attributed the mild correction in precious metal prices to cautious trading ahead of key global economic data and a firm US dollar. Internationally, gold prices have seen some profit-taking after hovering near record highs, while silver has also faced pressure amid expectations of tighter global financial conditions.

Experts note that while short-term movements remain range-bound, gold continues to attract investor interest as a hedge against geopolitical uncertainty and inflation. Domestic prices may continue to fluctuate in the near term, tracking global trends, currency movements, and changes in international bullion markets.

Also Read: Sensex slides 200 points, Nifty dips below 25,850

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Corporate

Sensex slides 200 points, Nifty dips below 25,850

On Friday, the BSE Sensex slipped over 200 points, while the Nifty 50 traded below the 25,850 mark in early deals, as selling pressure emerged across metals, IT and energy stocks.

Markets started the session on a subdued note as investors remained wary of global uncertainties, including concerns around US trade policies and geopolitical risks. Early gains seen at the open were quickly pared as profit booking set in and risk appetite weakened.

Market breadth was negative, with declines outpacing advances. Hindalco Industries, ONGC, Wipro, Tech Mahindra and Jio Financial Services were among the key laggards, dragging the benchmarks lower. Metal and IT stocks faced notable pressure amid concerns over global demand and margins.

On the positive side, select stocks showed resilience. Eternal rose on the back of favourable brokerage commentary, while SBI Life Insurance, ICICI Bank and Bajaj Finance traded higher, offering limited support to the indices.

The rupee weakened against the US dollar, adding to investor caution. Analysts expect markets to remain range-bound in the near term, with global cues and stock-specific triggers likely to drive movements through the session.

Also Read: Air India gets its first custom Boeing 787 Dreamliner since privatisation

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Technology

Nvidia introduces Rubin Chip architecture

Nvidia has revealed its Rubin AI platform, a new chip architecture aimed at supporting the next generation of artificial intelligence systems. The announcement signals Nvidia’s continued push to stay ahead of rising AI computing demands, particularly as models become more complex and reasoning-driven.

Rubin is designed to succeed the Blackwell architecture and offers substantial gains in AI inference and training performance. Nvidia says the platform is optimised for workloads that require long-context understanding, faster response times, and more efficient processing, making it suitable for large-scale AI applications across industries.

The company said Rubin is already in production and will be deployed more widely in the second half of 2026. With strong interest from major cloud and technology firms, the Rubin platform is expected to become a key building block for future AI infrastructure.

Unlike conventional chip launches, Rubin is built as a complete computing platform. It combines GPUs, CPUs, memory, networking, and data processing technologies into a tightly integrated system. This approach reduces latency and improves data movement, which is critical for handling large and distributed AI workloads in modern data centres.

Energy efficiency and cost reduction are central to the Rubin design. Nvidia claims the new architecture can significantly lower the cost of running AI models compared with previous platforms, while also cutting power consumption. This could help cloud providers and enterprises scale AI operations without proportionate increases in infrastructure costs.

Rubin is also aligned with the industry’s shift toward reasoning-based AI, where systems are expected to analyse information, maintain long contexts, and make more complex decisions. Nvidia believes this capability will define the next phase of AI development, moving beyond simple pattern recognition.

Also Read: India’s GDP likely to grow 7.4% in FY26

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Beyond

India’s GDP likely to grow 7.4% in FY26

India’s economy is expected to grow at 7.4 percent in the financial year 2025‑26, according to the government’s first advance GDP estimates. This is higher than last year’s growth of 6.5 percent, signaling a strong economic recovery.

The nominal GDP, which factors in price changes, is projected to rise by 8 percent. The services sector is leading the growth, driven by finance, real estate, trade, transport, and communication. Manufacturing and construction are expected to expand around 7 percent, while agriculture may grow at about 3.1 percent.

Despite global economic challenges, strong domestic demand, investments, and supportive policy measures are helping the economy stay on track. These estimates will guide the upcoming Union Budget, offering a roadmap for fiscal planning in the year ahead.

This early outlook reflects India’s resilience and continued momentum, keeping the country on track for steady growth in FY26.

Also Read: Trump eyes Greenland, military option possible

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1 Minute-Read

Trent revenue ₹5,220 cr, shares drop 8%

Tata Group’s retail arm, Trent Ltd, saw its shares fall over 8% after its Q3 FY26 update. The company reported ₹5,220 crore in standalone revenue, up 17% year-on-year, but growth was flat sequentially and below some analyst estimates.

Trent expanded its footprint, adding 17 Westside and 48 Zudio stores during the quarter. While Morgan Stanley maintained an overweight rating, other analysts flagged slowing demand and rising competition in the retail sector.

Investor caution led to a market value drop of roughly ₹13,000 crore, highlighting concerns over near-term performance despite overall revenue gains.

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Corporate

Sensex rests 102 points lower, Nifty below 26,150

Indian equity markets closed lower on Wednesday, January 7, 2026, as profit-taking and selective sector weakness weighed on investor sentiment. The BSE Sensex dropped 102 points to settle at 87,654, while the Nifty 50 declined below 26,150, marking the third consecutive session of losses.

Selling pressure was concentrated in auto, metal, and financial stocks, while global cues remained cautious. Market participants adopted a wait-and-watch stance ahead of key corporate earnings and macroeconomic data, keeping trading range-bound.

Among top gainers, Titan Company led the rally on robust demand outlook, supported by select IT and pharmaceutical stocks benefiting from defensive buying.

Lagging stocks included Maruti Suzuki and Tata Motors Passenger Vehicles, which dragged the auto sector lower, while Bajaj Finance and Bajaj Finserv faced pressure in the financial segment.

Market breadth was negative, with declining stocks outpacing advancers, reflecting cautious positioning by institutional investors. Sector rotation favored technology, pharmaceuticals, and consumption-led names, as traders balanced risk-off sentiment with selective accumulation.

Analysts noted that short-term volatility is likely to continue, with investor focus remaining on earnings updates, global developments, and domestic macroeconomic cues. They advised monitoring sector-specific movements and global market trends before making fresh commitments.

Also Read:: Sensex down 150, Nifty under 26,150

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Corporate

Meesho shares slide 5% as ₹2,000 cr equity frees up

Shares of Indian e-commerce company Meesho fell sharply on Wednesday, dropping as much as 5% and hitting the lower circuit limit on the BSE. The decline came after the expiry of a one-month IPO lock-in period, which allowed nearly 110 million shares, valued at around ₹2,000 crore, to become freely tradable in the market.

The lock-in period, imposed on certain shareholders following Meesho’s recent public listing, restricts them from selling their shares immediately after the IPO. Once this period ends, these investors are free to sell their holdings, often increasing the supply of shares in the market and putting pressure on the stock price. Analysts say this is a normal market phenomenon after lock-in expiries and does not reflect the company’s long-term performance.

Despite the sharp drop, Meesho’s shares remain well above its IPO price of ₹111 per share. The stock had reached post-listing highs in December 2025, but the current correction has brought it down about 32% from those peaks. Market observers note that while some investors may sell immediately, others could hold onto their shares, meaning the market may stabilize in the coming days.

Financial analysts maintain a cautiously optimistic outlook on Meesho, citing its strong growth potential in India’s expanding e-commerce sector. They suggest that the stock’s short-term volatility due to lock-in expiry is not unusual, and long-term prospects remain positive given the company’s solid business fundamentals and market penetration.

Investors are advised to monitor market trends carefully and consider the stock’s fundamentals rather than making decisions based solely on technical fluctuations. Lock-in expiries often lead to temporary volatility, but Meesho’s growth trajectory and expanding user base continue to make it a promising player in the Indian e-commerce space.

Also Read: Venezuela to send 30–50 mn barrels of oil to US