Author: Staff Writer

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Corporate

Sensex surges 900 points, Nifty climbs past 24,300

The stock market bounced back strongly on May 6, with both Sensex and Nifty posting sharp gains after a weak session a day earlier. The Sensex jumped nearly 900 points, while the Nifty moved above the 24,300 mark, reflecting improved investor confidence.

The recovery comes after markets had ended lower in the previous session, weighed down by global concerns. On Wednesday, sentiment turned positive as global cues improved and crude oil prices eased, reducing worries about inflation and rising costs.

Falling oil prices played a big role in lifting the mood on Dalal Street. Hopes of easing tensions in the Middle East helped bring prices down, which is good news for India as it imports a large share of its oil. Lower oil prices generally support the economy and help markets move higher.

From the opening bell, markets showed strength and continued to gain through the day. Banking, auto, and pharma stocks were among the main drivers of the rally, with broad-based buying seen across sectors.

Among the top performers, Dr Reddy’s Laboratories and Trent saw strong gains. Other stocks like Tata Motors and InterGlobe Aviation also moved higher. On the flip side, Larsen & Toubro and ONGC were among the few stocks that slipped during the session.

Global markets also supported the rally, adding to the positive mood. A stable rupee and steady corporate earnings further helped markets maintain their upward momentum.

Experts say the rebound shows that investors are still willing to buy on dips, especially when global conditions improve. However, they also caution that markets may remain volatile in the near term due to ongoing geopolitical uncertainties and changes in oil prices.

Also Read: IMF warns Iran conflict could hurt global economy

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Leaders

Kumar Mangalam Birla is Vi’s non-executive Chairman

Vodafone Idea (Vi) has brought back Kumar Mangalam Birla as its Non-Executive Chairman, in a move seen as a fresh push to revive the struggling telecom company. The appointment came into effect on May 5, with Ravinder Takkar stepping down from the chairman role and taking up a new position as Non-Executive Vice Chairman.

Birla’s return comes at a time when Vodafone Idea is trying to stabilise its business after years of financial pressure. The company has been dealing with high debt, stiff competition, and the need to raise funds to keep operations strong. His comeback is being viewed as a sign that the promoters are stepping in more actively to guide the company forward.

The market reacted positively to the announcement. Vodafone Idea’s shares rose around 5% soon after the news, showing that investors are hopeful about the company’s direction under Birla’s leadership.

Birla had earlier stepped down as chairman in 2021 during a difficult phase for the company. His return now suggests renewed focus on long-term planning and improving the company’s financial health.

Ravinder Takkar, who led Vodafone Idea through some of its toughest years, will continue to remain involved in the company. His shift to a vice chairman role is expected to ensure continuity while allowing Birla to take charge of overall strategy.

Vodafone Idea has been losing subscribers and facing strong competition from larger telecom players. However, recent developments, including government support and plans to raise funds, have given some hope that the company can recover.

With Birla back in a key position, the company is expected to focus on strengthening its network, improving services, and rebuilding trust among customers and investors.

Also Read: IMF warns Iran conflict could hurt global economy

Categories
Beyond

IMF warns Iran conflict could hurt global economy

The global economy could face serious challenges if the Iran-related conflict continues, the International Monetary Fund (IMF) has warned. IMF Managing Director Kristalina Georgieva said the situation is already putting pressure on growth and could get significantly worse if tensions do not ease soon.

The IMF had earlier expected global growth to remain stable in 2026. However, the ongoing conflict is now creating uncertainty, especially through rising energy prices and disruptions in supply chains. If the situation continues, growth could slow more than expected, while inflation may rise further.

One of the biggest concerns is oil. The conflict has already affected oil supply, pushing prices higher. If prices continue to rise, it could make fuel, transport, and everyday goods more expensive across countries. This would increase the cost of living and put pressure on both households and businesses.

Georgieva also pointed out that even if there is a ceasefire, the economic effects will not disappear immediately. Shocks like rising oil and food prices tend to last longer and can continue to affect economies for months. This means countries may still face challenges even after tensions ease.

Another worry is global trade. Key shipping routes in the region could be disrupted, affecting the movement of goods and increasing costs. This could slow down economic activity further, especially for countries that depend heavily on imports and exports.

The IMF has advised governments to be cautious in how they respond. Measures like controlling fuel prices may offer short-term relief but could worsen supply issues if not handled carefully.

Also Read: Cognizant plans 15000 layoffs, India faces impact

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Corporate

Cognizant plans 15000 layoffs, India faces impact

Cognizant is planning a major round of job cuts, and many employees, especially in India, are worried about what comes next. Reports suggest the company could cut between 12,000 and 15,000 jobs globally, with India likely to see the biggest impact.

The move is part of a larger effort by the company to reorganise how it works. Cognizant is trying to become more efficient and adapt to changes in the tech industry, where automation and artificial intelligence are playing a bigger role.

India has the largest number of Cognizant employees, which is why the impact there could be higher. For many workers, this news comes at a time when hiring in the IT sector has already slowed, making the situation more stressful.

The company has set aside a significant amount of money for this restructuring, including funds for severance packages for employees who may lose their jobs. While Cognizant has not officially confirmed the final number of layoffs, the scale being discussed has raised concerns across teams.

For many employees, this means increased pressure to upgrade their skills and stay relevant. There is also growing uncertainty about job stability, especially for those in roles that can be automated.

At the same time, companies like Cognizant say these changes are necessary to stay competitive in a fast-changing market. The restructuring is expected to happen over time, not all at once.

For now, employees are waiting for more clarity on who will be affected and when. The situation highlights how quickly the tech industry is evolving and how those changes are directly affecting jobs and careers.

Also Read: Meta issues warning over WhatsApp security bugs

Categories
Technology

Meta issues warning over WhatsApp security bugs

WhatsApp has issued an alert asking users to update their app after discovering security bugs that could expose devices to harmful files. The company has already released fixes, but users need to install the latest version to stay protected.

The problems were found in the way WhatsApp processes files and attachments. Hackers could take advantage of this by sending files that appear harmless but may contain hidden risks. For example, a file might look like a simple document but behave differently when opened.

There is also a concern with how links are handled within the app. Some links could be disguised in a way that misleads users into opening unsafe pages or downloading unwanted content. These tricks often rely on users trusting the sender and not checking carefully before clicking.

Experts say these bugs alone do not infect devices. The risk mainly arises when users open suspicious files or click on unknown links. This makes awareness and caution just as important as the update itself.

Meta has confirmed that it has not seen large-scale misuse of these flaws so far. However, it is urging users to act quickly and update the app as a precaution.

Cybersecurity professionals point out that messaging apps are frequent targets for attacks because they are widely used and people often trust what they receive. This makes it easier for attackers to spread harmful content.

Users should make sure their apps are updated through official platforms like the Google Play Store or Apple App Store. It is also important to avoid opening files or links from unknown sources.

Also Read: Gold climbs to ₹1.52 lakh, Silver jumps around ₹91/g

Categories
Beyond

Gold climbs to ₹1.52 lakh, Silver jumps around ₹91/g

Gold and silver prices moved sharply higher on May 6, 2026, as global cues turned supportive for precious metals. In the domestic market, gold rose about 1.36% to hover near ₹1.52 lakh per 10 grams, while silver surged 2.54% to around ₹91 per gram, reflecting strong buying interest across the bullion segment.

The main trigger behind the rally was the weakness in the US dollar. A softer dollar typically makes gold and silver cheaper for international buyers, increasing demand and pushing prices higher. At the same time, crude oil prices eased, which helped reduce inflation concerns and improved overall sentiment in commodity markets.

Gold, often seen as a safe-haven asset, benefited from continued global uncertainty. Even as some geopolitical tensions showed signs of easing, investors preferred to stay cautious and maintain exposure to bullion. This steady demand kept prices firm and close to record highs.

Silver, meanwhile, outperformed gold in percentage terms. Apart from safe-haven buying, silver also gained from expectations of stable industrial demand. This dual support, investment and industrial use, helped the metal see a sharper rise compared to gold.

Market participants are also keeping an eye on global developments, including currency movements and geopolitical updates such as discussions involving the US and Iran. These factors continue to influence investor sentiment and drive short-term price movements in precious metals.

Also Read: Sensex up by 300 points, Nifty reclaims 24,150

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Corporate

Sensex up by 300 points, Nifty reclaims 24,150

Indian equity markets traded with a positive bias on Wednesday, as benchmark indices recovered in early trade. The Sensex gained around 300 points, while the Nifty moved back above the 24,150 level, supported by improved global sentiment and easing crude oil prices. Investors continued to track international cues and domestic institutional support for direction.

Buying interest was seen across select auto and financial stocks, with Bajaj Auto emerging as one of the notable gainers in early trade. Paytm also saw strong activity, reflecting renewed interest in select digital and mid-cap counters. Broader market sentiment remained constructive, although stock-specific volatility continued to dominate trading patterns.

On the losing side, select IT and FMCG stocks witnessed mild profit booking after recent gains. Export-oriented IT names came under pressure amid global uncertainty and currency fluctuations, while defensive FMCG stocks saw some selling as investors rotated into cyclical sectors.

A key driver of the market recovery was the softening of crude oil prices, which eased concerns over inflationary pressures and improved the outlook for corporate margins. This particularly benefited sectors such as autos, aviation, and consumer discretionary, which are sensitive to fuel costs.

Global market trends also supported domestic sentiment. Asian equities traded firm, helping Indian indices maintain upward momentum. However, foreign institutional investor (FII) outflows continued to weigh on sentiment, limiting the strength of the overall rally. Domestic institutional investors (DIIs) provided partial offset through consistent buying support in select large-cap stocks.

The Indian rupee showed relative stability, adding to investor confidence and reducing fears of imported inflation pressures. This currency stability, combined with easing crude prices, contributed to a more balanced near-term outlook for equities.

Despite the rebound, analysts noted that market volatility remains elevated.

Also Read: NCLAT upholds Adani bid, rejects Vedanta appeal

Categories
Corporate

Tata Technologies Q4 profit climbs 8% to ₹204 cr

Tata Technologies reported a steady performance for the March quarter (Q4 FY26), with both profit and revenue showing year-on-year growth driven by strong demand across its services business.

The company posted a consolidated net profit of ₹204 crore, marking an 8% increase compared to ₹189 crore in the same quarter last year. The growth reflects improved operational performance and steady execution across key business segments.

Revenue from operations rose sharply by around 22% year-on-year to ₹1,572 crore, supported by broad-based demand in engineering, digital services, and product development solutions. The services segment continued to be the main growth driver, contributing significantly to overall performance.

On a sequential basis as well, the company saw improvement in both revenue and margins, indicating sustained momentum in business activity. The management highlighted continued strength in client demand and stable project pipelines across global markets.

Alongside the financial results, Tata Technologies also announced a dividend for shareholders. The board recommended a final dividend along with a special dividend, subject to approval at the upcoming annual general meeting. This move reflects the company’s focus on returning value to shareholders while maintaining healthy cash flows.

Despite rising operational costs, the company managed to maintain profitability growth, supported by efficiency improvements and higher revenue contribution from high-value projects.

The results come at a time when the global engineering and IT services sector continues to see mixed demand trends, with companies focusing on cost optimisation and digital transformation projects from clients.

Also Read: NCLAT upholds Adani bid, rejects Vedanta appeal

Categories
Corporate

Spirit Airlines grounds operations, 17,000 jobs hit

Spirit Airlines, a budget carrier headquartered in Miramar, Florida, has shut down operations after running out of cash, bringing an abrupt halt to its services and affecting nearly 17,000 employees. The airline’s closure marks one of the most significant collapses in the low-cost aviation segment in recent years.

The company had been struggling financially for some time, dealing with rising fuel prices, operational costs, and intense competition. Despite efforts to restructure and secure fresh funding, Spirit was unable to stabilise its finances. A proposed bailout plan also failed to gain approval from creditors, leaving the airline with no option but to cease operations.

The shutdown has had an immediate impact on employees, including pilots, cabin crew, and ground staff, many of whom are now facing sudden job losses. Passengers have also been hit, with several flights cancelled at short notice, forcing travellers to make alternate arrangements.

The effects of the closure are not limited to the aviation sector. In India, IT companies like Coforge are expected to feel the impact, as airlines form a significant part of their client base. Industry experts say the shutdown could signal broader challenges for IT firms that depend on global travel and aviation clients.

Spirit Airlines had built its brand around low-cost travel, offering budget fares to attract price-sensitive customers. However, the model became difficult to sustain amid rising costs and changing market conditions. The airline also faced increasing competition from both low-cost and full-service carriers.

The closure could lead to reduced competition on certain routes, which may result in higher ticket prices for passengers in the near future.

Also Read: Ambuja Cements Q4 profit jumps 78% to ₹1,800 cr

Categories
Corporate

Ambuja Cements Q4 profit jumps 78% to ₹1,800 cr

Ambuja Cements reported a sharp rise in profit for the March quarter, helped largely by a one-time tax gain, even as its core business faced cost pressures.

The company posted a net profit of over ₹1,800 crore in Q4 FY26, showing a strong year-on-year jump. However, much of this increase came from a tax credit, which significantly boosted the bottom line. Without this one-off benefit, profit growth would have been more modest.

On the operational side, the company saw steady growth. Revenue rose by around 10% compared to last year, supported by strong demand and higher cement sales. Ambuja also recorded its highest-ever quarterly sales volumes, reflecting continued activity in the construction and infrastructure sectors.

Despite this growth, rising input costs affected profitability. Expenses related to fuel, energy, and logistics remained high during the quarter, putting pressure on margins. This meant that while sales increased, the gains did not fully translate into stronger operating profits.

The results highlight a mixed trend, strong demand for cement on one hand, and ongoing cost challenges on the other. The company has been working on improving efficiency and managing expenses, but global factors such as energy prices continue to impact the sector.

Looking ahead, demand for cement is expected to remain stable, driven by government spending on infrastructure and housing projects. However, margins could continue to face pressure if input costs stay elevated.

Also Read: SC allows US lenders on Byju’s creditor panel