Category: Corporate

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Roche expands AI computing with Nvidia chips

Swiss pharmaceutical company Roche has significantly expanded its artificial intelligence (AI) infrastructure by purchasing thousands of advanced chips from Nvidia, aiming to accelerate drug discovery and improve the efficiency of its research and development operations.

The company has installed more than 2,000 high-performance graphics processing units (GPUs) across its research centres in the United States and Europe. These chips provide the computing power required to process vast amounts of biomedical data and run complex simulations used in modern drug development.

By expanding its AI computing capacity, Roche plans to speed up several stages of the pharmaceutical research process. Scientists will be able to analyse large clinical and biological datasets faster, design potential drug molecules more efficiently and simulate how treatments may work in the human body before they enter clinical trials.

The investment is part of Roche’s ongoing collaboration with Nvidia to integrate advanced AI tools into pharmaceutical research. The enhanced computing platform will support the development of AI models capable of identifying promising drug targets, predicting outcomes in clinical trials and improving diagnostics.

According to Roche executives, faster computing power is becoming essential in the pharmaceutical industry as companies attempt to shorten the long timelines associated with drug development. Developing a new medicine can often take more than a decade and cost billions of dollars, making technologies that increase research productivity highly valuable.

With the latest deployment, Roche has built one of the largest AI-focused computing infrastructures in the pharmaceutical sector. The company expects the expanded system to help researchers run complex analyses in hours instead of days, allowing teams to test more hypotheses and accelerate scientific discovery.

Also Read: NCLT clears Adani Enterprises plan to acquire Jaiprakash Associates

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NCLT clears Adani Enterprises plan to acquire Jaiprakash Associates

The National Company Law Tribunal (NCLT) has approved the resolution plan submitted by Adani Enterprises to acquire the financially troubled Jaiprakash Associates. The approval is a key step in resolving the company’s insolvency case under India’s bankruptcy law.

The tribunal’s Allahabad bench gave the approval on March 17, 2026, clearing the way for the Adani Group to take control of the Jaypee Group’s flagship company. Adani Enterprises had offered a resolution plan worth about ₹14,535 crore to take over the company and repay part of its debt.

Jaiprakash Associates entered the corporate insolvency process in June 2024 after it failed to repay loans of more than ₹57,000 crore. Banks and other lenders had been trying to recover their dues through the insolvency process.

Adani Enterprises emerged as the winning bidder after several companies showed interest in buying the stressed firm. The company’s proposal was approved by the lenders’ Committee of Creditors (CoC) in November 2025 with around 89% of the votes, which is well above the required approval level under the Insolvency and Bankruptcy Code.

With the tribunal’s approval, Adani Enterprises can now move ahead with implementing the resolution plan. The company may complete the acquisition directly or through its subsidiaries or special purpose vehicles.

The takeover will give the Adani Group access to several important assets owned by Jaiprakash Associates. These include real estate projects, cement operations, hotels, and infrastructure assets, mainly located in North India. The company also owns large township projects such as Jaypee Greens in Greater Noida and the Jaypee International Sports City near the upcoming Jewar airport.

However, existing shareholders of Jaiprakash Associates are unlikely to receive any payout under the resolution plan. Because the company’s debts are very high, most of the recovery will go to lenders, and current shares may be cancelled during the restructuring process.

Also Read: Rupee slips 3 paise to 92.43 against US dollar

 

 

 

 

 

 

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Corporate

Sensex jumps to 76,300, Nifty rises above 23,700

The markets found fresh momentum on Wednesday, with investors embracing a broad-based rally that pushed both the BSE Sensex and Nifty 50 higher. The Sensex surged by around 550 points to 76,300, while the Nifty climbed past 23,700, extending gains for the third consecutive session.

The upbeat mood on Dalal Street was fueled by falling global crude oil prices and stability in international markets, which eased cost concerns and inflation worries. Analysts said this encouraged domestic investors to step back in after a period of cautious trading.

Among sectors, technology, banking, and automobiles led the gains. TCS, Infosys, Wipro, HCL Tech, and Tech Mahindra posted strong rises, with some IT stocks gaining as much as 4%. In banking, ICICI Bank and other private lenders supported the upward momentum, while Maruti Suzuki led auto shares higher with nearly 2% gains.

On the other hand, metals stocks underperformed despite some individual gains, with Tata Steel performing better than most peers. Analysts noted that stocks without fresh triggers lagged behind the broader rally.

Market breadth was positive, with more advancing stocks than declining ones, indicating that the buying interest was widespread across sectors, not just limited to large-cap stocks. Mid-cap and small-cap shares also participated in the rally, reflecting renewed investor confidence.

The rupee remained stable against the US dollar, and bond yields eased slightly, mirroring the risk-on sentiment across equity markets.

While the current rally is encouraging, analysts cautioned that geopolitical tensions and global economic developments could influence markets in the coming sessions. For now, the rebound shows that investors are increasingly willing to buy on dips, particularly in fundamentally strong sectors.

Also Read: Coal India’s CMPDI launches Rs 1,842 cr IPO, March 20

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Coal India’s CMPDI launches Rs 1,842 cr IPO, March 20

Investors now have the chance to buy shares in Central Mine Planning & Design Institute Limited (CMPDI), a key subsidiary of Coal India Limited, as its IPO opens on March 20, 2026. The offer will remain open until March 24, giving retail and institutional investors a four-day window to participate.

This IPO is structured entirely as an offer for sale (OFS), meaning Coal India and the Government of India are selling part of their stakes. The price band is set between ₹163 and ₹172 per share, and the total issue size is around ₹1,842 crore. A portion of shares is also reserved for eligible employees and existing shareholders.

CMPDI, based in Ranchi, Jharkhand, plays a vital role in India’s coal sector. It provides services like mine planning, mineral exploration, environmental consultancy, and safety assessments, helping keep India’s coal production efficient and sustainable.

The market is watching CMPDI closely. Earlier this year, Bharat Coking Coal Limited, another Coal India subsidiary, saw strong demand in its IPO, giving investors confidence about the prospects for CMPDI. Analysts expect interest from long-term investors looking to own a part of a public sector company with a strategic role in India’s energy infrastructure.

Also Read: Tejas Networks wins 4G expansion deal

 

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Tejas Networks wins 4G expansion deal

Tejas Networks Ltd., a leading Indian provider of telecom equipment, has been selected by a mobile operator in South Asia to supply advanced 4G Radio Access Network (RAN) equipment as part of a large-scale network expansion project. The deal marks a significant step for the company in strengthening its international presence and highlights growing demand for cost-effective and scalable telecom infrastructure in emerging markets.

The order involves the deployment of Tejas Networks’ multiband radio products across multiple sites, enabling the mobile operator to enhance network coverage, improve service quality, and meet the rising demand for high-speed mobile data services in the region. Tejas Networks’ technology is known for its energy efficiency, compact design, and flexibility, making it suitable for dense urban areas as well as rural locations.

Following the announcement, Tejas Networks’ shares surged sharply in the Indian stock market, gaining up to 8% during trading. Analysts attribute the positive market response to the company’s expanding international footprint and its ability to secure high-value overseas contracts. Investors see this as a sign of Tejas Networks’ potential to grow revenue and profitability while diversifying its client base beyond India.

The South Asian expansion deal also reflects broader trends in the telecom sector, where operators are rapidly upgrading their networks to support increasing smartphone penetration and higher data consumption. Companies like Tejas Networks, which provide cost-effective and scalable solutions, are well-positioned to benefit from this global transition.

This contract is part of Tejas Networks’ ongoing strategy to expand its overseas business, particularly in regions with growing demand for reliable 4G and next-generation telecom infrastructure. With this order, the company not only strengthens its business prospects in South Asia but also enhances its visibility among international telecom operators, potentially opening doors for future contracts in other emerging markets.

Also Read: Uncertain global markets force PhonePe to delay IPO

 

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NBIS jumps after $27bn Meta AI deal

Shares of Nebius Group (NASDAQ: NBIS) surged Monday after the company announced a huge deal with Meta Platforms to provide advanced AI computing infrastructure. The multi-year agreement could be worth as much as $27 billion, highlighting how tech giants are racing to secure the computing power needed for artificial intelligence.

The deal guarantees that Nebius will supply at least $12 billion in AI capacity starting in 2027, with options for Meta to buy even more as its AI projects grow. The infrastructure includes state-of-the-art GPU systems and clusters spread across Nebius data centers, designed to handle the heavy demands of next-generation AI models.

Investors reacted enthusiastically, sending Nebius shares up roughly 13–15 % in early trading. The stock jump reflects confidence in Nebius as a key player in the booming AI cloud market.

This isn’t the first time Meta and Nebius have teamed up. They previously worked on a smaller AI project, and Nebius also counts Microsoft among its major clients. Nvidia has also invested $2 billion in the company, strengthening its position as a leading provider of AI infrastructure.

While the capacity won’t be fully available until 2027, the partnership is a clear signal of Meta’s commitment to AI and its strategy to secure the resources necessary for its future projects. For Nebius, it’s a major win that positions the company at the heart of the AI revolution.

Also Read: Jensen Huang projects $1 trillion AI revenue by 2027

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Sensex surges nearly 600 points, Nifty above 23,500

On Tuesday, the markets extended their recovery for the second consecutive day, with the S&P BSE Sensex climbing about 600 points and the NSE Nifty50 closing above the key 23,500 level. Benchmark indices rallied despite ongoing global uncertainties and rising crude oil prices.

The Sensex ended the session at around 76,070, up nearly 0.75%, while the Nifty50 gained approximately 0.74%, finishing at close to 23,580. This marks a continuation of the recent rebound after steep losses in preceding sessions and reflects improving market sentiment.

Sector performance showed clear leadership from auto and metal stocks, which saw robust buying interest. Large‑cap names including Eternal Ltd, Tata Steel, Mahindra & Mahindra, Bharat Electronics, and Bharti Airtel were among the top gainers, with some advancing up to 5–6%.

In contrast, information technology and consumer staples segments lagged. Stocks such as Infosys, Bajaj Finance, ITC, TCS, and HCL Technologies ended lower, reflecting selective sector weakness within the broader uptrend.

Market analysts noted that volatility eased during the session, with the India VIX falling sharply, while mid‑cap and small‑cap indices also advanced modestly, suggesting broader participation in the rally.

Persistent headwinds remain, particularly from elevated crude prices and geopolitical tensions in the Middle East, which have weighed on investor appetite in recent weeks. Additionally, the Indian rupee saw pressure, dipping toward record lows against the U.S. dollar, underlining currency market stress that could influence future equity flows.

Also Read: Sensex rises 300+ points, Nifty nears 23,500

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Uncertain global markets force PhonePe to delay IPO

Digital payments platform PhonePe has postponed its plans to launch an initial public offering (IPO), citing unstable global markets and rising geopolitical tensions that have affected investor sentiment. The company said it will reconsider the listing once market conditions become more favourable.

The fintech major had been preparing for a public listing in India that was expected to raise about $1.3–$1.5 billion and value the company at roughly $15 billion. The proposed IPO was widely seen as one of the most significant upcoming listings in India’s fintech sector.

However, growing geopolitical tensions in parts of the world and fluctuations in global equity markets have created uncertainty for investors. Market experts say companies often delay large public offerings during such periods to avoid weak demand or lower-than-expected valuations.

According to reports, the decision was taken after the company carefully reviewed the prevailing market environment. PhonePe said it remains committed to going public in India but will wait until financial markets stabilise before proceeding with its IPO plans.

Analysts note that investor sentiment has recently been affected by global geopolitical developments, which have led to increased volatility in financial markets. Such conditions typically make it more challenging for companies to attract strong investor interest during public listings.

Industry sources also indicated that valuation expectations may have influenced the decision. Reports suggest that some potential investors were cautious about the company’s expected valuation, prompting PhonePe to reconsider the timing of its listing.

The postponement reflects a broader trend in India’s capital markets, where several firms are reassessing their IPO timelines amid global economic uncertainty. Experts believe more companies may choose to delay their listings until market conditions improve and investor confidence returns.

PhonePe is one of India’s largest digital payments platforms, serving hundreds of millions of users and millions of merchants across the country. The company has been expanding its services beyond payments into financial products such as insurance, lending and wealth management.

Also Read: Reliance, Samsung C&T sign $3 bn green ammonia deal

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upGrad to acquire Unacademy

India’s edtech sector is set for a significant shake-up as upGrad has agreed to acquire rival platform Unacademy through a 100% share-swap transaction. The proposed deal reflects a broader consolidation trend within the industry as companies focus on sustainable growth and new technologies such as artificial intelligence.

Under the agreement, Unacademy will continue operating with its existing leadership team. Co-founder Gaurav Munjal is expected to remain CEO, overseeing the company’s operations and future product development. The combined entity aims to strengthen its presence across multiple education segments, including competitive exam preparation, professional courses and upskilling programs.

The financial terms of the transaction have not yet been disclosed. Company executives said the valuation and final details will become public after the deal is formally completed and required regulatory processes are finished.

The acquisition comes at a time when India’s once-booming edtech sector is undergoing major changes following the rapid expansion witnessed during the COVID-19 pandemic. Many companies are now prioritising profitability, operational efficiency and strategic partnerships to remain competitive in a more mature market.

Both upGrad and Unacademy are increasingly investing in artificial intelligence to improve their learning platforms. AI-powered tools are being developed to personalise courses, recommend learning paths for students and assist educators in creating interactive digital content. The companies believe these technologies could significantly enhance engagement and learning outcomes.

upGrad has been expanding its offerings in career-oriented education and professional upskilling, while Unacademy has built a strong presence in test preparation for competitive exams. By combining their resources, technology and learner communities, the two firms expect to accelerate innovation and broaden their reach across different learner groups.

Also Read: Reliance, Samsung C&T sign $3 bn green ammonia deal

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Reliance, Samsung C&T sign $3 bn green ammonia deal

Reliance Industries Limited (RIL) has signed a long-term agreement with Samsung C&T Corporation to supply green ammonia in a deal valued at more than $3 billion. The 15-year supply contract is expected to begin in the second half of fiscal year 2029.

The agreement is considered one of the largest long-term green ammonia supply deals globally and reflects rising demand for low-carbon fuels as countries and companies work to reduce carbon emissions.

Under the agreement, Reliance will produce and supply green ammonia using hydrogen generated from renewable energy sources. Green ammonia is produced by combining green hydrogen with nitrogen from the air, creating a low-carbon alternative to conventional ammonia that is typically made using fossil fuels.

The fuel is increasingly seen as an important solution for decarbonizing hard-to-abate sectors such as shipping, power generation, and heavy industry. It can also be used as a carrier for hydrogen, making it easier to transport and store clean energy across long distances.

The supply will support energy transition initiatives in countries like South Korea and Japan, which are exploring cleaner fuels to cut emissions from industrial operations and electricity generation.

The agreement is part of Reliance’s broader strategy to build a large-scale clean energy ecosystem. The company is developing an integrated new energy platform that includes renewable power generation, battery storage, green hydrogen production, and downstream fuels such as green ammonia.

Reliance is also investing in domestic manufacturing of key clean energy technologies, including solar modules, energy storage systems, and electrolysers used in hydrogen production. These investments are aimed at creating an end-to-end supply chain for clean energy products.

Also Read: Japan releases emergency oil reserves