Category: Corporate

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Corporate

Sensex slumps 560 points, Nifty ends below 24,100

Indian benchmark indices ended sharply lower on Tuesday, with the BSE Sensex tumbling 561 points and the Nifty 50 closing below the 24,100 mark, as weak IT stocks and escalating geopolitical tensions dented investor sentiment.

The sell-off was led by technology shares following mixed first-quarter earnings. Tata Elxsi and HCLTech emerged among the biggest losers as investors reacted to earnings-related concerns and cautious management commentary. Selling was also seen in select financial and auto stocks, adding to the market’s losses.

In contrast, defensive sectors attracted buying interest. Sun Pharma and NTPC were among the top gainers, supported by demand for healthcare and power stocks. However, their gains were insufficient to offset broader market weakness.

Investor sentiment remained fragile amid rising tensions in the Middle East, which heightened concerns over crude oil prices and global economic stability. Market participants also stayed cautious ahead of more corporate earnings announcements.

Also Read: Tata Capital buys 88.6% stake in Yogloans

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Tata Capital buys 88.6% stake in Yogloans

Tata Capital is set to enter India’s fast-growing gold loan market by acquiring an 88.6% stake in Kerala-based non-banking finance company (NBFC) Yogloans. The acquisition marks a significant step in Tata Capital’s strategy to diversify its lending portfolio and strengthen its presence in retail finance.

The transaction, subject to regulatory approvals, will give Tata Capital access to Yogloans’ established gold loan business, branch network and customer base. Founded in 2008, Yogloans specialises in loans against gold jewellery and has built a strong presence, particularly in southern India.

Gold loans have emerged as one of the fastest-growing segments in India’s lending market, driven by rising demand for quick, secured credit from households and small businesses. By acquiring Yogloans instead of building a business from scratch, Tata Capital aims to accelerate its expansion in this high-growth segment.

Industry experts say the deal will enable Tata Capital to leverage its financial strength and digital capabilities while benefiting from Yogloans’ expertise in gold-backed lending. The acquisition is also expected to enhance Tata Capital’s product offerings and strengthen its competitive position against established players in the sector.

The move comes at a time when demand for secured loans continues to rise amid favourable gold prices and increasing financial inclusion. Gold loans remain popular because they offer quick disbursal, minimal documentation and relatively lower borrowing costs.

For Yogloans, becoming part of the Tata Group is expected to provide access to capital, technology and a wider customer network, supporting its future growth.

Also Read: Satya Nadella warns of AI information paradox

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Corporate

HCLTech Q1 profit jumps 20% to ₹4,624 cr

HCLTech reported a 20% year-on-year rise in consolidated net profit for the first quarter of FY27, with earnings increasing to ₹4,624 crore, reflecting resilient demand for its technology services despite continued uncertainty in global markets.

The company’s revenue also registered healthy growth during the April-June quarter, supported by steady client spending across digital transformation, engineering, cloud and artificial intelligence (AI)-led services. HCLTech said strong execution and disciplined cost management helped improve profitability during the quarter.

The IT major continued to secure new client deals, with management highlighting a healthy pipeline of large transformation projects across industries. Demand remained particularly strong for AI-driven solutions, cloud migration and engineering services, areas that have become priorities for businesses looking to modernise operations.

Commenting on the results, Chief Executive Officer C. Vijayakumar said the company delivered a solid start to the financial year despite macroeconomic challenges. He noted that clients remain focused on long-term technology investments aimed at improving efficiency and accelerating digital adoption.

HCLTech maintained its revenue growth guidance for the full financial year, expressing confidence that continued investments in AI, software and digital services would support future growth. The company also reiterated its operating margin guidance, signalling expectations of stable financial performance over the coming quarters.

The results come at a time when global IT companies continue to navigate cautious enterprise spending amid economic uncertainty. However, spending on artificial intelligence, automation and cloud technologies has remained relatively resilient, benefiting companies with strong digital capabilities.

Market participants welcomed the earnings, viewing the profit growth as a sign of HCLTech’s operational strength and diversified business model. Analysts said the company’s healthy deal wins and improving margins position it well for sustained growth even as clients remain selective about discretionary technology spending.

With businesses increasingly adopting AI-powered solutions and digital transformation initiatives, HCLTech expects demand for advanced technology services to remain strong. The company believes its broad portfolio, global client base and focus on innovation will help it maintain momentum through the rest of the financial year.

Also Read: SK Hynix shares slide 8% after Nasdaq debut

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SK Hynix shares slide 8% after Nasdaq debut

Shares of South Korean memory chip maker SK Hynix fell sharply a day after their blockbuster Nasdaq debut, as investors locked in profits following a strong first day of trading.

The company’s American Depositary Receipts (ADRs) dropped by more than 9% in US trading, while SK Hynix shares in South Korea also declined, reflecting profit-booking after the stock’s impressive market debut. Despite the pullback, analysts said the decline was largely driven by short-term trading activity rather than concerns about the company’s fundamentals.

SK Hynix made a strong debut on the Nasdaq, attracting significant investor interest amid growing optimism about the artificial intelligence (AIa) boom. The company is one of the world’s leading producers of high-bandwidth memory (HBM) chips, a critical component used in AI servers and advanced graphics processors.

The successful listing was seen as another sign of strong global demand for semiconductor companies linked to AI infrastructure. Investors have been increasingly bullish on firms supplying memory chips, as demand continues to rise from technology giants investing heavily in AI data centres.

The company continues to benefit from robust demand for AI memory chips and expects this trend to support future growth. SK Hynix remains well positioned to capitalise on expanding investments in artificial intelligence, cloud computing and high-performance computing.

While the sharp fall surprised some investors, many viewed it as a temporary correction after the initial surge in enthusiasm. The broader outlook for the semiconductor industry remains positive, with AI continuing to drive demand for advanced memory products.

Also Read: ITC Infotech leads race for Happiest Minds stake acquisition

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Aditya Birla Group to buy Sprng Energy for $1.8 bn

The Aditya Birla Group has agreed to acquire Shell-backed Sprng Energy Group in a $1.8-billion (around ₹15,000 crore) deal, marking one of the biggest renewable energy transactions in India’s clean power sector.

The acquisition will be carried out through Aditya Birla Renewables, the group’s clean energy platform. Once completed, the deal will significantly expand its renewable energy portfolio and strengthen its position in India’s fast-growing green power market.

Sprng Energy develops and operates large-scale solar and wind power projects across several Indian states. Its portfolio includes operational assets as well as projects under construction, supplying clean electricity to utilities and commercial customers. The acquisition is expected to add substantial renewable generation capacity to Aditya Birla Renewables, helping meet rising demand for green energy.

Shell said the sale is part of its strategy to optimise its global power portfolio while continuing to focus on areas where it has a competitive advantage. The company noted that the transaction aligns with its broader objective of creating value through disciplined capital allocation.

For the Aditya Birla Group, the acquisition supports its long-term commitment to sustainability and the energy transition. The company has been steadily increasing investments in renewable energy to meet its own decarbonisation goals while expanding its clean energy business.

 With the country targeting 500 GW of non-fossil fuel power capacity by 2030, demand for solar and wind assets is expected to remain strong.

The transaction is subject to customary regulatory approvals and closing conditions. Once completed, it will rank among the largest acquisitions in India’s renewable energy industry and further consolidate the sector.

The deal also highlights the increasing pace of consolidation in clean energy, as companies seek to scale up quickly through acquisitions rather than building projects from scratch. For both companies, the agreement represents a strategic step aligned with their evolving business priorities in the global energy transition.

Also Read: Anthropic Claude AI now priced in rupees

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SBI funds IPO opens as investors eye long-term growth

The much-awaited initial public offering (IPO) of SBI Funds Management opened for public subscription on Tuesday, giving investors an opportunity to own a stake in India’s largest asset management company. The issue will remain open until July 16, with the stock expected to debut on the exchanges on July 21.

The ₹9,812.9-crore IPO is entirely an Offer for Sale (OFS), meaning no fresh shares are being issued and the company will not receive any proceeds from the issue. Instead, existing shareholders—State Bank of India and its joint venture partner Amundi India Holding—are selling part of their holdings.

The company has fixed the price band at ₹545-574 per share, while investors can bid in lots of 26 shares. At the upper end of the price band, a retail investor will need to invest at least ₹14,924 for one lot.

Ahead of the public issue, SBI Funds Management raised ₹2,663 crore from anchor investors. The anchor book attracted several marquee global names, including sovereign wealth funds from Singapore, Abu Dhabi and Norway, as well as BlackRock, reflecting strong institutional confidence in the asset manager.

Brokerages have largely recommended subscribing to the IPO, citing SBI Funds’ dominant market position, strong profitability, extensive distribution network and consistent growth in assets under management. Many analysts believe the valuation is reasonable compared with listed peers and see the company as a long-term play on India’s expanding mutual fund industry.

The IPO has also generated healthy interest in the grey market, indicating expectations of a positive listing. Existing SBI shareholders enjoy an added advantage, as they can apply under both the retail category and the shareholder reservation portion, improving their chances of receiving an allotment.

As India’s mutual fund industry continues to benefit from rising retail participation and record SIP inflows, the listing of SBI Funds Management is being viewed as one of the biggest capital market events of the year. Market participants will now closely watch subscription levels over the next three days to gauge investor appetite for the landmark offering.

Also Read: Centre nears Fairfax IDBI deal

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Sensex sinks 500 points, Nifty falls below 24,100

Indian equities began Tuesday’s session on a weak note, with the Sensex falling over 500 points and the Nifty breaching the 24,100 level. Investor sentiment remained subdued amid weak global markets, rising geopolitical tensions and caution ahead of key corporate earnings.

The day’s decline was driven by renewed concerns over escalating tensions involving the US and Iran, which pushed crude oil prices higher and raised fears of inflationary pressures. The uncertainty prompted investors to trim exposure to riskier assets, resulting in selling across metal, consumer and financial stocks. Volatility remained high throughout the trading session as traders reacted to both global and domestic developments.

Information technology stocks, however, offered some relief to the markets. HCL Technologies emerged among the top gainers after attracting strong buying interest, while Tata Elxsi also advanced on optimism surrounding its business outlook and investor expectations ahead of quarterly earnings. The resilience in select IT counters helped limit the overall decline in benchmark indices.

On the other hand, Trent and Tata Steel were among the biggest losers of the day. Metal stocks came under pressure amid concerns over global demand and commodity price fluctuations, while profit booking in consumer-facing companies added to the market’s weakness. Broader markets mirrored the negative trend, with several mid-cap and small-cap stocks ending in the red.

Also Read: TCS restructures business for AI era

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Sensex settles 47 points higher, Nifty tops 24,200

The markets recovered sharply from the day’s lows to end almost flat on Monday, with strong buying in information technology (IT) stocks helping erase early losses triggered by global concerns.

The BSE Sensex settled 47.55 points higher at 77,616.40, while the NSE Nifty 50 edged up 4.80 points to close at 24,211.30. In early trade, the Sensex had fallen over 700 points and the Nifty briefly slipped below the 24,000 mark as investors reacted to rising tensions in West Asia and higher crude oil prices.

However, buying interest returned during the second half of the session, especially in IT stocks, helping the benchmark indices recover nearly all their losses. Investors also remained optimistic ahead of the June-quarter earnings season.

TCS, HCLTech and Infosys were among the top gainers, with technology stocks leading the market rebound. Tech Mahindra and Wipro also traded higher as investors accumulated IT shares.

On the other hand, Eternal, Trent and IndusInd Bank ended among the biggest losers. Profit booking in select consumer and financial stocks kept overall market gains in check despite the late recovery.

Analysts said the initial sell-off was driven by uncertainty surrounding geopolitical developments and concerns over rising crude oil prices, which could impact inflation and corporate earnings. However, the strong comeback reflected investors’ willingness to buy quality stocks at lower levels.

Market experts believe the focus will now shift to corporate earnings, with IT companies expected to set the tone for the reporting season. Investors will also keep an eye on global cues, foreign institutional investor (FII) activity, inflation data and movements in crude oil prices.

Also Read: TCS restructures business for AI era

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Corporate

TCS restructures business for AI era

Tata Consultancy Services (TCS) has announced a major leadership overhaul as it sharpens its focus on artificial intelligence (AI) and digital transformation. The country’s largest IT services company has created five new global business units, aiming to help clients adopt AI faster while strengthening its own growth strategy.

The restructuring comes as businesses worldwide increase investments in AI-powered technologies and automation. TCS said the new structure is designed to make the organisation more agile, improve decision-making and deliver specialised solutions to customers across industries.

Under the new model, the company has reorganised its operations into five customer-focused business units, each led by senior executives with greater responsibility for growth, innovation and client relationships. The move is intended to simplify operations and enable faster execution in an increasingly competitive technology landscape.

TCS said AI is transforming the way enterprises operate, creating demand for new digital services across sectors such as banking, healthcare, manufacturing, retail and communications. By aligning its leadership around dedicated business units, the company hopes to respond more quickly to changing customer needs and emerging technology trends.

The company also believes the new structure will encourage closer collaboration between teams, improve service delivery and support the development of AI-led business solutions. TCS has been investing heavily in generative AI, cloud computing and automation, viewing these technologies as key drivers of future growth.

Also Read: Apple Pencil may get replaceable battery

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Sensex plunges 500 points , Nifty below 24,150

Indian benchmark indices recovered sharply in the second half of Monday’s trade, with the BSE Sensex slumping nearly 500 points from its intraday low. Despite the recovery, the index closed lower as cautious sentiment continued to dominate amid rising geopolitical tensions and firm crude oil prices. The NSE Nifty also pared most of its losses but finished below the 24,150 mark.

The market opened on a weak note after concerns over the escalating conflict in the Middle East pushed global crude oil prices higher. The rise in oil prices renewed worries about inflation and increased costs for oil-importing countries like India, prompting investors to trim exposure to equities. Weak global cues further added to the pressure, dragging frontline indices lower during the morning session.

At one point, the Sensex was down more than 700 points before bargain buying in heavyweight stocks helped the market recover significantly. Although the rebound reduced the day’s losses, investors largely remained on the sidelines ahead of key corporate earnings and global developments.

Selling was seen across several sectors, with metals, financials and auto stocks witnessing the sharpest decline. Market participants also kept a close watch on crude oil prices, currency movements and overseas markets, all of which are expected to influence sentiment in the coming sessions.

Among individual stocks, L&T Finance and Just Dial emerged as the top gainers, supported by company-specific optimism and buying interest. On the other hand, Tata Steel and Adani Ports featured among the biggest laggards, as selling pressure persisted in metal and infrastructure counters.

Also Read: Apple sues OpenAI over alleged trade secrets theft