Category: Corporate

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Corporate

Oracle plans massive layoffs through AI funding crunch

US technology company Oracle is reportedly planning to cut 20,000 to 30,000 jobs as part of efforts to manage costs while expanding its AI-focused data‑centre network, according to industry sources. This would be one of the largest layoffs in the company’s history.

The job reductions are part of a broader plan to free up $8 billion to $10 billion in cash flow, which Oracle intends to use for building and operating large-scale data centres that can handle advanced AI workloads. The company’s AI push involves collaboration with major partners, including OpenAI.

Oracle’s ambitious expansion comes with a significant price tag. Analysts estimate that the company may need more than $150 billion over several years to fund the new AI infrastructure. Several US banks have reportedly pulled back from lending, citing concerns about the high capital requirements and rising debt levels. This has increased the company’s borrowing costs and created uncertainty around financing its AI data‑centre projects.

To manage these challenges, Oracle is exploring alternative strategies beyond workforce reductions. This includes the potential sale of its Cerner healthcare software unit, acquired for $28.3 billion in 2022, and adopting new models like “bring your own chip” (BYOC), where customers provide their own hardware, reducing Oracle’s capital burden.

The tech giant has already tapped debt markets and raised billions to fund data centres in states such as Texas, Wisconsin, and New Mexico, but these funds cover only a fraction of the total investment needed for AI infrastructure.

If confirmed, these layoffs would surpass Oracle’s previous workforce cuts in late 2025, when about 10,000 employees were let go as part of a $1.6-billion restructuring plan.

Also Read: New Income Tax law from April to ease compliance

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Sensex up over 100 points, Nifty above 24,800

The markets traded cautiously on Monday investors continued to digest the sharp sell-off triggered by the Union Budget 2026–27. Benchmark indices Sensex and Nifty 50 struggled to regain momentum after recording heavy losses during Sunday’s special budget trading session.

In the previous session, the Sensex had dropped over 1,500 points, while the Nifty declined by nearly 500 points, marking one of the steepest Budget-day corrections in recent years. Volatility remained high on Monday, with markets moving between marginal gains and losses as investor confidence stayed fragile.

The sell-off was largely driven by the government’s decision to raise the Securities Transaction Tax (STT) on futures and options, which increased trading costs and dampened appetite for high-volume derivative trades. Market participants said the move came as a surprise and led to broad-based selling across sectors.

Some pockets of the market, however, showed resilience. IT majors such as TCS and Wipro traded higher, supported by defensive buying, while select healthcare stocks also saw limited gains amid uncertainty.

On the downside, heavyweights continued to face pressure. Larsen & Toubro (L&T) slipped as capital goods stocks saw profit-taking, while Adani group companies remained among the key drags on the indices. PSU banks, metal stocks and defence shares, including Bharat Electronics (BEL), also traded lower, reflecting caution over valuations and policy impact.

Global cues remained mixed, with Asian markets subdued and commodity prices easing.

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Corporate

Peloton announces 11% job cuts as cost-saving push

Peloton Interactive Inc. has announced that it is laying off about 11% of its global workforce as part of a renewed effort to cut costs and streamline operations. The decision, made public on January 30, affects nearly 300 employees and is one of the most significant steps taken by the company under its new leadership.

The layoffs will have a notable impact on engineering teams, particularly those working on long-term technology and internal development projects. Peloton said the move is aimed at improving efficiency and ensuring resources are focused on areas that directly support customers and revenue growth.

In an internal message to employees, CEO Peter Stern said the company needs to operate with greater discipline as it works through a challenging business environment. He acknowledged the difficulty of the decision and thanked departing employees for their contributions, adding that Peloton will provide support during their transition.

The job cuts are part of a broader plan to reduce at least $100 million in annual expenses. Along with workforce reductions, Peloton has been reviewing its real estate footprint and internal processes to lower fixed costs. The company said these changes are necessary to create a more sustainable operating model.

Peloton’s announcement comes just days before it is due to report its latest quarterly earnings, a period that has kept investors cautious. Demand for connected fitness equipment has remained uneven after the pandemic boom, and newer products — including AI-enabled features and redesigned hardware — have yet to deliver a strong turnaround in sales.

The company has also raised prices for some of its bikes, treadmills and subscription services in recent months, a move aimed at improving margins but one that has drawn mixed reactions from consumers.

Peloton has gone through several rounds of restructuring in recent years as it adjusts to changing consumer behaviour and tougher competition in the fitness and technology space. The latest layoffs highlight the ongoing pressure on consumer tech companies to balance innovation with profitability.

Also Read: Google India profit ₹1,437 cr as revenue falls 3.2%

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Corporate

Google India profit ₹1,437 cr as revenue falls 3.2%

Google India reported a nearly flat net profit of ₹1,437 crore for the financial year ending March 31, 2025, staying close to the ₹1,425 crore recorded in FY24. The company’s revenue from core operations fell 3.2% to ₹5,340 crore, primarily due to softer advertising income, which kept overall profit growth in check.

Despite this, total revenue rose slightly to ₹6,116 crore, helped by “other income” of ₹776 crore. However, the net profit margin slipped to 23.5% from 24.1%, reflecting the impact of lower operational earnings combined with rising expenses.

On the cost side, total expenditure reached ₹4,136 crore. Employee benefits increased by 7.8% to ₹2,146 crore, while tax expenses rose sharply by 22.6% to ₹543 crore, both putting pressure on profitability.

A spokesperson for Google India noted that FY25 results are not directly comparable to FY24, as the previous year included earnings from the company’s IT division, which was spun off into Google IT Services, and adjustments from an earlier Bilateral Advance Pricing Agreement (BAPA) with the tax authorities. These factors had boosted FY24 numbers.

The slight revenue decline comes amid shifts in digital advertising trends and market conditions, prompting the company to manage costs carefully. Analysts say the numbers indicate that while Google India’s bottom line remains stable, operational growth faces headwinds, and margins are under pressure from rising expenses.

Also Read: Rupee up 9 paise after record low ₹92

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Corporate

NSE receives SEBI approval for IPO launch

The National Stock Exchange of India (NSE) has finally received approval from the Securities and Exchange Board of India (SEBI) to proceed with its initial public offering (IPO), ending almost ten years of delays. This clearance allows the exchange to submit its draft prospectus and move toward listing, a significant milestone for India’s capital markets.

NSE first filed for an IPO in 2016, but its plans were stalled amid regulatory scrutiny and legal challenges. The exchange faced allegations regarding co-location facilities and dark fibre services, which reportedly gave select brokers faster access to trading data. Over the years, these issues delayed NSE’s path to listing, even as other Indian exchanges, like BSE, successfully went public.

The recent SEBI approval follows settlement applications submitted by NSE to resolve these long-standing cases. Officials from the regulator had indicated that the NOC would likely be granted after these matters were addressed. With the nod now in hand, NSE is expected to submit the IPO draft prospectus by end of March 2026, with the listing process projected to take six to eight months, potentially making NSE a publicly listed company by late 2026.

Unlike conventional IPOs, NSE’s offering is expected to be an offer-for-sale (OFS). Existing shareholders, including LIC, SBI, and other financial institutions, will sell part of their holdings to the public, meaning the exchange itself will not raise fresh capital from the IPO. This approach allows existing investors to realize part of their gains while introducing NSE shares to retail and institutional investors.

NSE chairperson Srinivas Injeti described SEBI’s approval as “a significant milestone in our growth journey,” highlighting the exchange’s commitment to transparency and market development. Market experts say the IPO will not only enhance NSE’s public profile but also boost investor confidence in India’s capital markets.

Also Read: Dixon Technologies rallies 5% after Q3 profit jump

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Corporate

Sensex drops 296 points at close, Nifty breaches 25,350

The equity benchmarks closed lower on Friday as BSE Sensex fell 296 points, while the Nifty 50 settled below the 25,350 level, snapping a brief recovery seen earlier in the session.

Selling pressure was seen across banking, auto and metal stocks, while selective buying supported FMCG and pharmaceutical shares. Weak global cues and a sharp fall in the rupee also weighed on market sentiment.

Among Sensex gainers, ITC, Sun Pharma, Nestlé India, HUL, and Power Grid ended higher, supported by defensive buying and stock-specific interest. FMCG stocks gained as investors moved towards safer pockets of the market.

On the losers’ side, Bajaj Auto, Tata Motors, JSW Steel, IndusInd Bank, and L&T declined, dragging the benchmarks lower. Auto and metal stocks faced selling pressure due to concerns over demand and global growth.

The broader market also remained weak, with midcap and smallcap indices closing in the red, reflecting cautious investor positioning. Sectorally, banking, auto and metals underperformed, while FMCG and pharma showed relative resilience.

The rupee slipped to a record closing low against the US dollar, adding to pressure on equities, especially import-dependent sectors. Market participants remained cautious ahead of upcoming economic data and policy developments.

Also Read: Sensex slides 350 points, Nifty slips below 25,300

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Coking Coal made Critical Mineral, shares jump 5%

The government has classified coking coal as a critical mineral under the Mines and Minerals (Development and Regulation) Act, highlighting its strategic importance for the steel industry.

The move is expected to simplify approvals for mining and exploration, encourage domestic production, and reduce the country’s heavy reliance on imports, which currently meet about 95% of demand.

Following the announcement, Bharat Coking Coal (BCCL) shares rose nearly 5%, while Coal India gained around 3%, reflecting investor optimism about the policy’s impact on the steel supply chain.

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Tata Motors Q3 profit ₹705 cr, down 48%

Tata Motors’ consolidated net profit for the third quarter (October–December 2025) fell sharply by 48% year-on-year, coming in at ₹705 crore, compared with ₹1,355 crore in the same quarter last year. The decline was mainly due to one-time exceptional expenses, rather than a slowdown in the company’s core business operations.

Revenue from operations, however, showed strong growth, rising 16% to ₹21,847 crore, up from ₹18,819 crore in Q3 FY25. This reflects continued demand in the commercial vehicle segment and steady sales momentum across its businesses.

The quarter’s results were impacted by exceptional charges totaling around ₹1,600 crore, including ₹962 crore for stamp duty and other costs linked to the ongoing demerger process, ₹603 crore related to the implementation of the new labour code, and ₹82 crore for acquisition-related expenses.

Despite the one-off charges, Tata Motors’ underlying operations remained healthy. EBITDA margins improved, indicating effective cost management and operational efficiency.

Domestic commercial vehicle sales continued to perform well, supported by fleet replacement incentives and government tax benefits. Wholesales rose during the quarter, and the company’s market share in key commercial vehicle categories improved sequentially.

Management stated that although exceptional items affected net profit this quarter, the business fundamentals remain strong. Demand is expected to stay robust in the fourth quarter of FY26, backed by infrastructure spending and steady demand across sectors.

Also Read: Swiggy Q3 loss widens to ₹1,065 cr despite 54% revenue growth

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Swiggy Q3 loss widens to ₹1,065 cr despite 54% revenue growth

Food delivery and quick-commerce platform Swiggy reported a consolidated net loss of ₹1,065 crore in the third quarter (Q3) of FY26, up 33% from ₹799 crore in the same period last year. The widening losses reflect heavy spending on expansion, marketing, and operational costs, even as the company’s revenue showed strong growth.

Swiggy’s revenue from operations jumped 54% year-on-year to ₹6,148 crore, compared with ₹3,993 crore in Q3 FY25. Sequentially, revenue also increased from ₹5,561 crore in the previous quarter, signaling robust demand across its services.

The food delivery business remained the main revenue driver. Its gross order value (GOV) grew 20.5% YoY to ₹8,959 crore, marking the fastest growth for this segment in three years. Monthly transacting users rose 22% to 18.1 million, showing sustained consumer adoption. Margins improved modestly, with adjusted EBITDA for food delivery reaching about 3% of GOV, the highest in two years.

Swiggy’s Instamart quick-commerce division also posted strong growth, with GOV more than doubling to ₹7,938 crore. The network expanded to 1,136 dark stores across 131 cities, adding 34 new stores in the quarter. Average order value increased 40% YoY to ₹746, driven by higher demand for groceries and other essentials. However, Instamart continues to operate at a loss, contributing to the overall widening net loss.

Also Read: Apple earnings soar as iPhone sales jump in China

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Apple earnings soar as iPhone sales jump in China

Apple has reported one of its strongest quarterly results ever, thanks to a huge increase in iPhone sales, especially in China, and steady growth in its services business.

For the first quarter of fiscal 2026, Apple earned $143.8 billion in revenue, up 16% from last year, and a profit of $42.1 billion, exceeding analyst expectations. iPhone sales were the main driver, generating $85.3 billion, a 23% rise compared with the previous year.

China played a big role in this growth. iPhone sales in the country jumped about 38%, reaching $25.5 billion. Apple is seeing more customers switch from Android phones, helping it regain market share.

CEO Tim Cook said demand for the iPhone 17 was “staggering,” with strong sales across all major regions. Upgraded features, better performance, and customer upgrades from older models helped boost sales.

Apple’s services, including digital content, subscriptions, and software, also grew 14% to $30 billion, supported by a global active device base of 2.5 billion.

Not everything was perfect. Wearables and home accessories grew slowly, and rising chip costs and supply issues could affect future profits. Apple is also investing in artificial intelligence, including partnering with Google to use the Gemini AI model and buying AI startup Q.ai.

Looking ahead, Apple expects revenue growth of 13–16% for the next quarter, showing confidence in its iPhones and services despite ongoing supply challenges.

Apple’s strong results highlight the continued popularity of its devices and the resilience of its business, with China emerging as a key market once again.

Also Read: ITC Q3 FY26 profit ₹4,931 cr, revenue rises