Category: Corporate

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Corporate

Sensex dives 900 points, Nifty near 23,330

The markets opened sharply lower on Friday, with benchmark indices extending a week-long slide amid global uncertainties. The BSE Sensex fell about 900 points to roughly 75,120, while the Nifty50 dropped to around 23,331, reflecting broad-based selling across most sectors.

Investors were shaken by rising geopolitical tensions involving Iran, Israel and the US, which fueled concerns over oil supply disruptions. Brent crude prices remained above $100 per barrel, pushing fears of higher input costs and inflation for Indian companies.

Foreign institutional investors (FIIs) continued their net selling streak, amplifying downward pressure on stocks. The Indian rupee also weakened, hitting new lows against the US dollar, adding to investor caution.

Among sector leaders, Larsen & Toubro and HDFC Bank were significant drags, while Mahindra & Mahindra and ICICI Bank also faced steep losses. Conversely, Reliance Industries, Tech Mahindra, and NTPC were among the few stocks showing gains, as investors favored defensive names amid market turbulence.

The sell-off was widespread, with metals, realty, consumer durables, and PSU banking stocks posting notable declines. Defensive consumer sector stocks, by contrast, showed relative stability.

Also Read: Adani Total Gas rises 33% on gas supply push

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Corporate

Atlassian to cut 1,600 jobs, company roots for AI

Atlassian, the software company behind Jira, Confluence, and Trello, announced it will lay off around 1,600 employees, roughly 10% of its global workforce, as part of a major restructuring to focus on artificial intelligence (AI).

CEO Mike Cannon-Brookes told employees that AI is transforming the way the company builds and sells products. While AI is not directly replacing people, the shift means the company needs different skills and roles to develop AI-driven tools for businesses. The layoffs are meant to realign resources toward AI and enterprise-focused products.

The company expects the restructuring to cost $225 million to $236 million, including severance and office-related expenses, mostly in the current fiscal quarter. The cuts affect employees worldwide, with about 40% in North America, 30% in Australia, and 16% in India. In addition, Chief Technology Officer Rajeev Rajan will step down on March 31, with new leadership overseeing the AI strategy.

Investors reacted positively, with Atlassian shares rising nearly 2% in after-hours trading, as the move is seen as a step toward a leaner, more focused company. However, analysts caution that layoffs alone may not solve bigger challenges, such as profitability and adapting existing products to the AI era.

 Atlassian emphasized that the layoffs are not a reflection of performance but a strategic shift to prepare for the AI-driven future.

Also Read: Amazon announces 90-day code safety reset

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Corporate

Adani Total Gas rises 33% on gas supply push

Shares of Adani Total Gas have surged sharply over the past few days, rising about 33% in three days and nearly 37% in two days at one point. Investors are reacting to the government’s decision to prioritize gas distribution for households, CNG vehicles, and essential industries amid ongoing supply shortages and rising energy costs.

The move comes as global oil prices remain high and domestic natural gas supply faces pressure. By giving priority to key sectors, authorities aim to ensure that essential users continue receiving gas despite tight supply conditions.

Adani Total Gas operates city gas distribution networks across several Indian states and is benefiting from expectations of higher gas sales and improved profit margins. Its strong network and growing demand for piped natural gas (PNG) and compressed natural gas (CNG) make it a preferred choice for investors during the current supply squeeze.

Other companies in the sector, such as Gujarat Gas and Petronet LNG, also saw gains, though their rise was smaller compared to Adani Total Gas. Traders said the entire gas sector is gaining attention as traditional energy markets remain uncertain due to global supply chain disruptions and high crude oil prices.

Also Read: India’s GAIL buys Oman LNG cargo

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Corporate

Sensex falls nearly 1,000 points, Nifty drops below 19,000

Stock markets fell sharply on March 12, 2026, as rising oil prices and global tensions shook investor confidence. The BSE Sensex dropped nearly 1,000 points, while the Nifty50 fell below 19,000, hitting key support levels.

Some stocks still gained, with HCL Tech and Reliance Industries showing small rises. However, major companies including Adani Enterprises, Indigo Airlines, Bajaj Auto, and Maruti Suzuki were among the top losers, reflecting heavy selling in transport, industrial, and consumer goods sectors.

The market decline was triggered by worries over the Middle East conflict between the U.S. and Iran, which has raised fears of disruptions in global oil supply. Brent crude oil rose above $100 per barrel, prompting concerns about higher costs for businesses and rising inflation for consumers.

Investor sentiment was further affected by foreign investors selling shares and weak cues from global markets. The India VIX, a measure of market fear, jumped more than 6%, showing increased nervousness among traders. Small- and mid-cap stocks also fell, indicating cautious behavior across the board.

Experts said the markets could remain volatile as long as oil prices stay high and geopolitical tensions continue. Rising crude prices put pressure on energy, aviation, and manufacturing companies, while defensive stocks like HCL Tech and Reliance attracted some buying.

Also Read: Oil tops $100 after tanker attacks in Iraqi waters

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Corporate

India’s GAIL buys Oman LNG cargo

India’s state-run gas giant GAIL (India) Ltd has taken decisive action to ensure the country’s gas needs are met by purchasing a cargo of liquefied natural gas (LNG) from Oman. The move comes as supply disruptions from its usual sources in the Middle East have created uncertainty for households, industries, and transport sectors that rely heavily on gas.

The cargo was secured through a European trader at a price estimated between $17 and $20 per million British thermal units (mmBtu). Shipping data shows the LNG, aboard the vessel Orion Hugo chartered by Shell, is expected to reach Indian shores by mid-March, offering a timely boost to supplies.

India imports nearly half of its 195 million standard cubic metres per day gas consumption, making it highly dependent on global suppliers. Recent disruptions were triggered by geopolitical tensions in the Middle East, including temporary closures near the Strait of Hormuz and a force majeure declared by QatarEnergy, one of India’s key LNG providers.

By securing the Oman cargo, GAIL aims to stabilize domestic supply, particularly for essential users. Authorities have also begun prioritizing gas distribution, ensuring households, transport (CNG), and critical industrial sectors receive uninterrupted service, while non-essential consumption is temporarily scaled back.

Experts note that this step underscores India’s reliance on Middle Eastern LNG and highlights the need for diversified sources to maintain energy security. “This purchase is not just about meeting demand; it’s about keeping homes warm, vehicles running, and factories operational during a turbulent period,” a senior industry analyst said.

While GAIL has not issued a formal statement, industry observers view the procurement as a pragmatic, quick-response measure in a challenging global energy landscape.

Also Read: Volkswagen plans 50,000 job cuts by 2030

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Corporate

Volkswagen plans 50,000 job cuts by 2030

German auto giant Volkswagen has announced plans to cut about 50,000 jobs by 2030 as part of a major restructuring to reduce costs and stay competitive in the changing global car industry.

The job cuts are expected to affect several brands within the Volkswagen Group, including Audi and Porsche. Most of the reductions are likely to take place in Germany, where the company has a large workforce.

According to the company, the move comes as it deals with falling profits, rising production costs and strong competition in key markets. Volkswagen said the car industry is going through major changes, especially with the shift towards electric vehicles and new technologies.

Volkswagen recently reported a sharp drop in its profits. The company’s net profit fell by about 44% to €6.9 billion, making it one of its weakest financial performances in recent years. Slower vehicle sales and higher costs have added pressure on the company’s business.

Company executives said the restructuring is necessary to prepare Volkswagen for the future as it invests heavily in electric vehicles, digital technology and new software systems.

The automaker is also facing growing competition from Chinese electric vehicle manufacturers such as BYD and Geely. These companies have been expanding quickly, especially in China, which is the world’s largest car market.

To deal with these challenges, Volkswagen has launched a large cost-cutting programme aimed at improving efficiency and strengthening its position in the global market. The company said many of the job reductions will happen gradually through retirements and natural attrition rather than sudden layoffs.

Also Read: LPG fears spark rush for induction cooktops

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Corporate

Amazon announces 90-day code safety reset

Amazon has announced a 90-day “code safety reset” after a series of technical issues disrupted its online platform. The move comes after some outages were linked to software changes created with the help of artificial intelligence tools.

According to reports, the problems affected Amazon’s systems that handle orders and deliveries, causing website errors and cancelled orders for some customers. The incidents prompted the company to review how its engineers write and release software updates.

As part of the reset, Amazon has introduced stricter rules for engineers working on its most critical systems. For the next 90 days, developers must follow additional safety checks before releasing new code. This includes getting at least two engineers to review the code and properly documenting any changes before they go live.

The new measures will apply to around 335 “Tier-1 systems”, which are Amazon’s most important services that directly affect customers. These systems include parts of the platform responsible for shopping, payments and order processing.

Reports suggest that some of the recent issues were connected to the growing use of AI-assisted coding tools, including Amazon’s own internal AI assistant called Q. These tools help engineers write code faster, but they can sometimes introduce errors if the code is not carefully checked.

By introducing stricter reviews and documentation requirements, Amazon hopes to reduce the chances of similar problems in the future. The company also wants engineers to slow down and focus more on stability when making changes to critical systems.

The safety reset will also involve closer monitoring of software updates and stronger approval processes before any changes are implemented.

Industry experts say the move highlights the challenges companies face as they increasingly rely on AI to speed up software development. While AI tools can improve productivity, they also require careful oversight to avoid unexpected errors.

Amazon said the 90-day period will give the company time to review its development practices and strengthen safeguards.

Also Read: India backs record IEA oil reserve release

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Corporate

Mind Robotics raises $500mn at $2bn valuation

Mind Robotics, a robotics startup created from electric vehicle maker Rivian, has raised $500 million in a new funding round. The investment values the company at about $2 billion and shows growing interest in artificial intelligence-based robotics.

Mind Robotics develops advanced robots powered by artificial intelligence that can help industries automate physical tasks. The company focuses on using AI and robotics to improve work in factories, warehouses and supply chains.

The startup was originally developed as a project inside Rivian before becoming an independent company. Even after the spin-off, Rivian continues to support the venture and is expected to remain an important partner as the technology grows.

Mind Robotics plans to use the new funding to expand its research, hire more engineers and speed up the development of its robotics systems. The company aims to build machines that can perform complex tasks more efficiently in industrial environments.

Earlier, the company had raised about $115 million in seed funding from investors led by Eclipse Ventures. That early investment helped the startup begin developing its AI and robotics technology.

The company is working on what it calls “industrial AI”. This technology combines artificial intelligence, robotics and real-world data from manufacturing environments. By studying data from Rivian’s production facilities, Mind Robotics hopes to train its robots to handle tasks such as assembly work, warehouse operations and logistics management.

Experts say interest in robotics and automation is increasing as companies look for ways to improve efficiency and reduce labour-intensive work in factories. Many technology and manufacturing firms are now investing heavily in AI-driven automation systems.

For Rivian, launching Mind Robotics also reflects a broader strategy to expand beyond electric vehicles and explore new technology sectors.

Also Read: PM Modi unveils ₹10,800 cr projects in Kerala

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Corporate

Sensex falls 975 points, Nifty drops to 23,500

Indian equity benchmarks declined sharply on Thursday, the BSE Sensex dropped nesarly 975 points to 75,890.72, while the Nifty50 fell 299.45 points to 23,567.15 in early trade, reflecting broad-based selling across sectors.

Among the top gainers on the Nifty were HCLTech, Infosys, and Tata Consultancy Services, as IT stocks showed resilience amid the broader market sell-off.

On the other hand, top losers included InterGlobe Aviation, Tata Motors, Larsen & Toubro, and Adani Enterprises, which came under selling pressure during the session.

Sector-wise, auto, capital goods and consumer stocks led the decline, while IT shares limited the fall in the benchmarks.

The market downturn was largely driven by a surge in global oil prices, with Brent crude oil rising to around $101 per barrel amid geopolitical tensions in the Middle East. Higher crude prices raised concerns over inflation and increased costs for businesses.

The spike in oil prices, along with cautious global sentiment, prompted investors to reduce exposure to equities, leading to losses across most sectors in the domestic market.

Also Read: Elon Musk tops Forbes Billionaires list

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Corporate

Yann LeCun’s AMI labs nets $1bn to build real-world AI

AI pioneer Yann LeCun, former chief AI scientist at Meta and co-recipient of the Turing Award, has launched AMI Labs, a new startup focused on building “world models”, AI systems that learn from and reason about the physical world. The company announced a $1.03 billion seed funding round, one of the largest early-stage raises globally and the biggest ever for a European AI startup.

Investors in the round include Bezos Expeditions, Nvidia, Samsung, Toyota Ventures, Temasek, Mark Cuban, and more, reflecting strong confidence in AMI’s vision. The funding will support research teams in Paris (headquarters), New York, Montreal, and Singapore, and will allow the company to focus on foundational AI research rather than immediate product launches.

Unlike traditional AI systems that rely mainly on text and pattern recognition, AMI’s world models aim to understand cause and effect, remember past experiences, plan actions, and interact with real-world environments. The startup sees applications across robotics, healthcare, autonomous systems, and industrial operations, where accurate, reliable decision-making is crucial.

LeCun will serve as executive chair, with Alexandre LeBrun as CEO, Laurent Solly as COO, and Saining Xie as chief science officer. AMI plans to publish research and open-source much of its code to encourage collaboration and accelerate progress in the AI community.

The startup’s first commercial partner is Nabla, a healthcare AI firm, which plans to integrate AMI’s technology to improve decision-making in critical applications. AMI’s founders emphasize that the company will focus on long-term research and practical AI capabilities, rather than chasing quick revenue or replicating large language models.

Also Read: Apple now produces 25% of iPhones in India