Category: 1 Minute-Read

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ABB India stock jumps nearly 10% in third straight rally

ABB India Ltd’s shares surged 9.67% to ₹5,531 on January 29, marking the third consecutive session of gains on the NSE. The stock outperformed benchmarks, with the NIFTY down 0.16% and Sensex largely flat, highlighting stock-specific momentum.

In the past month, ABB India has risen around 7.6%, supported by higher-than-average trading volumes. Despite the recent rally, the stock remains about 3.3% lower over the past year.

Futures for February also showed strong buying activity, reflecting continued investor interest in the stock.

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Elon Musk hits back at Vinod Khosla over racism claims

Elon Musk and venture capitalist Vinod Khosla clashed publicly over accusations of racism.

Khosla criticized Musk for past comments about the shrinking global white population, suggesting it reflected a “White America Great Again” ideology, and urged non-white employees at Musk’s companies to leave. Musk rejected the claims, pointing out that his partner, Shivon Zilis, is of Indian descent and his son’s middle name honors Indian physicist Subrahmanyan Chandrasekhar.

The spat, filled with sharp personal barbs, highlights ongoing debates in tech over race, leadership, and the responsibilities of high-profile CEOs in addressing sensitive social issues.

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Air India hints at ordering more Boeing Dreamliners

Air India is considering ordering additional Boeing 787 Dreamliners to expand its long‑haul fleet, CEO Campbell Wilson said.

The first custom 787‑9 is set to begin commercial operations on February 1, flying the Mumbai–Frankfurt route. By 2027–28, the airline expects a major upgrade, with at least 20 Dreamliners joining its fleet.

One 787‑9 has already been inducted, while older 787‑8s are being retrofitted with new interiors. Since privatisation, Air India has placed orders for 570 aircraft, reflecting its ambitions for global growth and modernisation.

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Ajit Pawar killed in plane crash

Maharashtra Deputy Chief Minister Ajit Pawar died today morning, after a chartered aircraft carrying him crashed while attempting to land at Baramati airport in Pune district, officials said.

The plane, which had taken off from Mumbai, reportedly ran into trouble during its final approach and crash-landed near the runway, bursting into flames on impact.

Five people were on board the aircraft, including Ajit Pawar, two pilots and two other staff members. All occupants were killed, authorities confirmed. Emergency services rushed to the spot, but there were no survivors. The DGCA has launched an investigation to determine the cause of the crash.

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Axis Bank Q3 profit rises 3% to ₹6,490 cr

Axis Bank announced a 3 per cent increase in its standalone net profit for the third quarter ended December, reporting earnings of ₹6,490 crore compared with ₹6,304 crore a year earlier.

The bank’s net interest income rose 5 per cent to ₹14,287 crore, supported by strong loan growth of around 14 per cent. Total deposits grew by nearly 15 per cent during the quarter.

Asset quality improved, with a fall in gross and net non-performing assets, although margins dipped slightly. The bank said it continues to focus on balanced growth, strengthening its balance sheet, and maintaining prudent risk management amid a cautious lending environment.

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Nvidia backs CoreWeave with $2bn investment

Nvidia is investing $2 billion in CoreWeave, buying around 23 million shares and becoming its second-largest shareholder. The funding comes with an expanded partnership to accelerate AI-focused data centre development.

CoreWeave, once a crypto miner, now provides high-performance computing to tech firms using Nvidia chips. The investment will help CoreWeave secure land, power, and infrastructure to build over 5 gigawatts of AI compute capacity by 2030, meeting growing demand for AI services.

The announcement lifted CoreWeave shares, while Nvidia stock showed mixed reactions.

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Amazon to cut 16,000 jobs on Jan 27, Indian teams mostly

Amazon is set to begin a new round of layoffs on January 27, 2026, affecting around 16,000 employees worldwide. This move is part of the company’s ongoing restructuring, which may see nearly 30,000 corporate roles cut by mid-2026.

India teams, particularly in Bengaluru, Hyderabad, and Chennai, are expected to face the largest impact. Cuts will span key divisions including Amazon Web Services (AWS), Prime Video, retail operations, and HR.

Internal discussions and reports suggest notices may already be circulating, though Amazon has not officially confirmed the details.

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Adanis seek talks with SEC on summons

Gautam Adani and his nephew Sagar Adani have informed a US federal court that they are negotiating with the US Securities and Exchange Commission (SEC) over how legal summons should be served in its civil fraud case.

The SEC had requested permission to serve the summons via email and through US lawyers after India’s Ministry of Law and Justice twice refused to deliver the documents under the Hague Convention.

In a January 23 letter, the Adanis’ lawyers asked the court to delay ruling while discussions continue. The SEC alleges fraud and bribery affecting US investors, which the Adani Group denies and intends to contest.

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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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IndiGo shares fall 4% on weak Q3 earnings

IndiGo’s stock dipped 4% after reporting a 77.5% year-on-year decline in Q3FY26 consolidated profit, mainly due to one-off expenses linked to labour law compliance and operational disruptions.

Revenue increased by over 6%, driven by steady passenger traffic; however, margins were under pressure. Analysts note that while near-term results are weak, demand recovery and the airline’s dominant market position could support long-term growth.

Brokers continue to recommend holding or buying, citing strong fundamentals despite the short-term profit hit and ongoing cost challenges.