Category: Corporate

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Corporate

Mazagon Dock shares jump on ₹99,000 cr defence contract hopes

Shares of Mazagon Dock Shipbuilders Ltd surged sharply this week, rising around 15%, driven by investor optimism over a major defence contract and growing interest in the defence sector. The stock’s rally included a near 9% gain in a single session, making it one of the top-performing industrial stocks in recent trading.

The jump comes on the back of progress in a potential ₹99,000‑crore contract with the Indian Navy under the Project‑75I submarine programme. The company has completed discussions with the Contract Negotiation Committee (CNC), and the proposal has been sent to higher authorities for final approval. If awarded, this contract would significantly boost Mazagon Dock’s order book and revenue visibility.

Analysts say the stock is attracting attention not only because of the potential submarine deal but also due to heightened geopolitical tensions, including conflicts in the Middle East, which have lifted interest in defence-related stocks. Investors are increasingly seeing companies like Mazagon Dock as strategic plays in India’s naval expansion and defence preparedness.

The broader defence and shipbuilding sector has also seen gains, with other companies experiencing positive trading activity. Market watchers note that large-scale naval projects, increased government spending on defence, and long-term order pipelines make these stocks appealing to investors looking for growth and stability.

Brokerages maintain positive views on Mazagon Dock, expecting that final approval and execution of the submarine contract will drive revenue growth in the coming years.

Also Read: Adani Total Gas raises industrial gas to ₹119

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Corporate

Sensex tumbles 1,000 points, Nifty drops below 24,500

Indian equity markets ended the day sharply lower on Friday where the BSE Sensex closed down 1,097 points, while the Nifty50 slipped below 24,500, marking a day of broad-based selling across key sectors.

Markets opened on a cautious note after losses on Wall Street, with the Dow Jones Industrial Average declining overnight. Early indicators from the GIFT Nifty futures had already signaled a lower start for the domestic market. Analysts said that investor sentiment was further hit by rising crude prices and ongoing geopolitical risks in the Middle East.

Crude oil surged past $80–85 per barrel, driving concerns over higher energy costs and inflationary pressures. Foreign institutional investors also remained net sellers, adding to the downward momentum.

Among sectors, banking and financial stocks bore the brunt of the decline. Major lenders like ICICI Bank and HDFC Bank fell around 2–3%, reflecting cautious sentiment among domestic and overseas investors. Industrial stocks and airlines were also among the top losers, with Interglobe (IndiGo) dropping 2.5% after an analyst target cut.

On the positive side, some defense and public sector companies outperformed. GRSE, Cochin Shipyard, and Mazagon Dock saw gains of up to 18% over two days, supported by government defense orders. Reliance Industries rose over 2% after the U.S. allowed temporary imports of Russian crude, easing supply concerns.

In commodities, silver gained as investors sought safe-haven assets amid the volatility. The Indian rupee weakened slightly against the US dollar, reflecting global market pressures.

Also Read: Reliance shares jump 3% on oil rally

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Corporate

Oracle plans major layoffs as AI costs rise

US technology giant Oracle Corporation is reportedly planning large-scale layoffs as it faces rising costs linked to artificial intelligence infrastructure and expanding data-centre operations.

According to multiple reports, the company may cut between 20,000 and 30,000 jobs worldwide, which could affect around 10% of its global workforce. If the plan goes ahead, it would mark one of the biggest job cuts in Oracle’s history.

The expected layoffs come as the company ramps up investments in data centres to support advanced artificial intelligence services. Building and running these facilities requires expensive hardware, including specialised chips and powerful servers needed to train and run AI systems.

A major factor behind the rising spending is Oracle’s partnership with OpenAI, the AI company led by Sam Altman. Oracle has committed significant resources to providing cloud infrastructure that supports OpenAI’s AI models and tools.

Analysts say Oracle may need to invest billions of dollars in new data-centre capacity in the coming years as demand for AI computing continues to grow. Reports suggest that the company is looking at layoffs as a way to free up $8 billion to $10 billion to support these investments.

The company is also facing financial pressure because funding large-scale data-centre projects has become more challenging. Some US banks have reportedly grown cautious about lending money for massive AI infrastructure projects, which has made financing more expensive.

To manage these rising costs, Oracle is reviewing several options. These include cutting operational expenses, asking some customers to make higher upfront payments for cloud services, and possibly selling certain assets to raise funds.

Also Read: US to raise global tariff to 15%, says Scott Bessent

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Corporate

Rapido launches ‘Ownly’ food delivery app in Bengaluru

Ride-hailing company Rapido has entered the food delivery space with the launch of Ownly, a new platform that operates on a zero-commission model for restaurants. The service has been rolled out in Bengaluru as the company’s first market, with plans to expand if the model proves successful.

Unlike traditional food delivery platforms that charge restaurants commissions ranging from 15% to 30%, Ownly allows restaurants to list their menus and receive orders without paying any commission. Rapido said the initiative aims to create a more sustainable and profitable system for restaurant partners while keeping food prices affordable for customers.

Under the new model, restaurants handle food preparation and pricing independently, while Rapido manages delivery logistics through its existing network of bike taxi riders. The company believes this structure will help reduce costs for restaurants and encourage more eateries, particularly small and mid-sized outlets, to join the platform.

The launch comes at a time when many restaurant owners have expressed concerns over the high commissions charged by major food delivery aggregators. By removing these charges, Rapido hopes to offer restaurants greater control over pricing and customer relationships.

For customers, the company claims the zero-commission structure could lead to more competitive pricing, as restaurants will not need to inflate menu prices to offset aggregator fees. Orders placed through the Ownly app will be delivered using Rapido’s extensive rider network, which already supports its ride-hailing and logistics services.

Rapido also said the platform will focus on a curated selection of restaurant partners rather than a large marketplace. This approach is intended to maintain quality, ensure faster deliveries and provide better service for users.

Currently available only in Bengaluru, the company will closely monitor the platform’s performance before considering expansion to other cities across India.

Also Read: Adani partners UNESCO for Engineering Day 2026

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Corporate

Adani partners UNESCO for Engineering Day 2026

Adani Group has been selected as an official partner for World Engineering Day for Sustainable Development 2026, a worldwide initiative supported by UNESCO.

The partnership was announced by the World Federation of Engineering Organizations (WFEO), which leads the celebration each year. Adani Group is the first Indian company to be chosen as an official partner for the global event.

World Engineering Day is observed every year on March 4 to recognise the role engineers play in solving global challenges and supporting sustainable development. The event highlights how engineering and technology can help achieve the United Nations’ Sustainable Development Goals, including clean energy, modern infrastructure and climate action.

As part of the partnership, some of the Adani Group’s major infrastructure and renewable energy projects will be showcased as examples of engineering solutions supporting sustainable growth.

One of the projects expected to be highlighted is the large renewable energy development at Khavda in Gujarat’s Kutch district. The project, being developed by Adani Green Energy, is planned to become one of the world’s largest renewable energy plants once completed.

The Khavda project is expected to generate around 30 gigawatts of renewable power when fully operational. It is part of the group’s broader plan to expand clean energy capacity and support the global shift toward sustainable energy sources.

The theme for World Engineering Day 2026 is “Smart engineering for a sustainable future through innovation and digitalisation”. The event will focus on how new technologies and engineering solutions can help build sustainable infrastructure and improve energy systems.

Adani Group said the partnership reflects its focus on large-scale infrastructure and renewable energy projects. The company added that engineering innovation plays a key role in building reliable infrastructure and supporting economic growth.

Also Read: L&T shares rises 2%, brokerages see upside to ₹4,500

 

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Corporate

L&T shares rises 2%, brokerages see upside to ₹4,500

Shares of Larsen & Toubro rose more than 2% in trading after falling sharply in the previous sessions. The recovery came as investors bought the stock following its recent decline.

The stock had dropped earlier this week amid rising geopolitical tensions in West Asia. The conflict involving Iran, Israel and the United States raised concerns among investors, as L&T has a large share of its projects in the region.

During the trading session, L&T shares climbed close to ₹3,990 after the correction seen in recent days. The stock had fallen around 9–12% over the past few sessions and was down nearly 13% from its record high of about ₹4,440 reached in February.

Despite the recent volatility, several brokerage firms continue to remain positive about the company’s long-term outlook. Firms such as Jefferies and Motilal Oswal Financial Services have maintained their “buy” rating on the stock.

However, both brokerages have slightly lowered their target prices because of uncertainty linked to the situation in West Asia. Jefferies reduced its target price for L&T to around ₹4,500 from ₹4,715 earlier, while Motilal Oswal cut its target to about ₹4,400.

Analysts said the revisions reflect short-term risks linked to the company’s exposure to the Middle East market. Nearly 40% of L&T’s order book is connected to projects in West Asia, with Saudi Arabia accounting for a major share of those contracts.

Because of this exposure, delays or disruptions in the region could affect project execution and earnings in the near term. Analysts estimate that if projects are halted for about a month, the company’s earnings per share for FY26 could decline by around 6–8%.

Also Read: Rozana raises ₹290 cr to expand rural network

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Rozana raises ₹290 cr to expand rural network

Rural commerce startup Rozana has raised ₹290 crore in a new funding round led by Bertelsmann India Investments. The company plans to use the funds to expand its business in villages and small towns across northern India.

The funding round also saw participation from existing and new investors, including Fireside Ventures, Spark Growth Ventures and a few family offices. With the new investment, Rozana’s valuation has reportedly moved closer to $200 million.

Founded in 2021, Rozana focuses on building a commerce network for rural areas where access to organised retail and online shopping is still limited. The company connects villages with suppliers through a mix of digital platforms, local retail stores and delivery partners.

Rozana currently serves more than one million households across around 21,000 villages, mainly in Uttar Pradesh and Haryana. It works with thousands of local delivery partners who help bring products directly to rural customers.

The startup plans to use the fresh funds to expand its network into more states in the northern region, especially across the Gangetic belt. It also plans to improve its technology systems and strengthen its supply chain so that products can reach villages faster and more efficiently.

Rozana’s platform offers a range of daily-use items such as groceries and household products. By connecting local retailers with suppliers, the company aims to make essential goods more easily available to rural consumers.

The startup also plans to increase the number of retail centres that support its network. In the future, Rozana may introduce its own private-label products as it expands its presence in rural markets.

India’s rural market is increasingly attracting startups and investors as internet use and smartphone adoption continue to grow in villages. However, many rural areas still face challenges such as limited product availability and weak supply chains.

Also Read: Pentagon labels Anthropic ‘supply chain risk’

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Pentagon labels Anthropic ‘supply chain risk’

The US Department of Defense has labelled artificial intelligence company Anthropic as a “supply chain risk”, in a move that could affect how its technology is used by the American military and government contractors.

The Pentagon said it has formally informed the company that both Anthropic and its products are now considered a risk to the defence supply chain. The decision took effect immediately.

This designation is unusual because it is typically used for foreign companies that may pose a national security concern. Applying it to a US-based technology firm highlights growing tensions between the government and parts of the AI industry.

The move comes after a disagreement between the Pentagon and Anthropic over how the company’s artificial intelligence tools should be used by the military. US officials have been urging AI companies to allow their systems to be used for a wide range of defence and national security purposes.

However, Anthropic has placed limits on how its AI models can be used. The company has policies that restrict the use of its technology for activities such as mass surveillance or fully autonomous weapons that can attack targets without human control.

Because of these restrictions, discussions between the government and the company reportedly broke down. The Pentagon then decided to classify Anthropic as a supply chain risk.

The decision could create problems for companies that work with the US Department of Defense. Contractors may now need to stop using Anthropic’s AI tools if they want to continue doing business with the military.

Anthropic chief executive Dario Amodei has said the company will continue to maintain safeguards to prevent misuse of powerful AI systems.

Anthropic has criticised the move and said it plans to challenge the decision legally. The company argues that it is trying to ensure artificial intelligence is used responsibly and safely.

Also Read: Netflix buys Ben Affleck’s AI startup

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Sensex drops over 450 points, Nifty slips below 24,650

Stock markets opened sharply lower on Friday, mirroring a heavy sell-off in global markets and growing concerns over geopolitical tensions in West Asia. The BSE Sensex dropped over 450 points, while the Nifty50 fell below 24,650 in early trade, reflecting widespread risk-off sentiment among investors.

Banking and engineering stocks were among the hardest hit. ICICI Bank fell from ₹970 to ₹945, Larsen & Toubro (L&T) dropped from ₹3,520 to ₹3,450, and IndiGo declined from ₹2,320 to ₹2,260. In contrast, IT and defensive stocks managed modest gains, providing some support to the broader market.

Global cues were negative, with the Dow Jones Industrial Average witnessing a steep fall overnight. Analysts said that escalating tensions in West Asia, combined with rising crude prices. Brent crude crossed $85 per barrel, added to market nervousness. Precious metals, including gold, strengthened as investors sought safe-haven assets, while the rupee weakened slightly against the US dollar.

Sector-wise, energy and financials were major draggers, whereas select IT and FMCG stocks helped cushion losses. Experts noted that the market’s short-term trajectory will remain sensitive to oil price movements, developments in West Asia, and global equity trends.

Despite the sharp decline, analysts suggested that investors monitor intraday swings closely, as bargain hunting in fundamentally strong stocks could provide opportunities.

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Broadcom sees AI chip sales topping $100 billion

Broadcom expects the growing demand for artificial intelligence infrastructure to significantly boost its business in the coming years. The semiconductor company believes its AI chip sales could exceed $100 billion by 2027 as technology firms continue investing heavily in AI systems.

Speaking after the company’s latest earnings announcement, CEO Hock Tan said Broadcom is seeing strong demand for custom-designed chips used in large-scale AI data centres. According to Tan, the company now has clear visibility into how the AI market is expanding and expects its chip business to benefit from this trend.

A key factor behind this growth is the increasing need for specialised processors that can train and run complex AI models. Major technology companies are rapidly building AI infrastructure to support generative AI tools, cloud services and advanced data processing.

Broadcom has carved out a strong position in this market by working closely with large technology firms to develop custom AI chips tailored to their specific requirements. These chips are designed to handle heavy computing workloads required by modern AI systems.

Companies such as Alphabet, Microsoft, Amazon and Meta Platforms are investing billions of dollars to expand their AI capabilities. Their spending on AI-related infrastructure, including chips, servers and networking equipment, is expected to reach hundreds of billions of dollars in the coming years.

This surge in investment is already reflected in Broadcom’s financial performance. The company reported revenue of about $19.3 billion in its latest quarter, representing strong growth compared with the previous year. Revenue from AI-related products alone more than doubled during the period.

The company forecast revenue of about $22 billion for the next quarter, with AI chips expected to account for a significant share of that total.

Also Read: Jio Platforms CEO bets on AI tokens for telecom’s future