Category: Corporate

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Samsung nears Nvidia approval for HBM4 AI chips

Samsung Electronics is nearing certification from Nvidia for its next‑generation HBM4 high-bandwidth memory, a key component for AI processors, according to industry sources. The approval would allow Samsung to supply these advanced chips, strengthening its position in the rapidly growing AI hardware market.

HBM4 memory, a stacked DRAM technology, delivers extremely high data bandwidth and energy efficiency, crucial for feeding large volumes of data into Nvidia’s AI accelerators. Nvidia has relied mainly on SK Hynix for HBM memory, making Samsung’s entry a notable shift in the supply chain.

Reports indicate Samsung is in the final stage of testing after submitting initial HBM4 samples late last year. The company aims to begin mass production in February 2026, with shipments expected soon after certification. Positive feedback from customers on Samsung’s HBM4 design highlights its competitiveness in performance and reliability.

The development has already boosted investor confidence. Samsung’s shares in Seoul gained on news of the potential approval, as analysts see it as a step toward diversifying the supply of high-end AI memory and challenging SK Hynix’s dominance.

Also Read: Shadowfax IPO allotment done, 2.7x subscribed

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Shadowfax IPO allotment done, 2.7x subscribed

Shadowfax Technologies Ltd has completed the allotment for its IPO, which attracted strong investor interest. The company’s public offering, valued at ₹1,907 crore, saw an overall subscription of 2.7 times, driven mainly by Qualified Institutional Buyers (QIBs), alongside notable retail participation. The IPO was open for bidding from January 20 to 22, 2026, and allotment was finalised on January 23.

Investors can check their allotment status through the registrar KFin Technologies or via the BSE and NSE websites. Those who did not receive an allocation will have their applications refunded in the coming days.

Shadowfax shares are scheduled to list on the Bombay Stock Exchange and National Stock Exchange on January 28, 2026. Grey market trends—a popular, though unofficial, indicator—suggest that shares could debut at or slightly below the issue price, reflecting cautious sentiment among investors.

The IPO price band was set at ₹118–₹124 per share, with retail investors required to buy a minimum lot of around ₹14,000. The company intends to use the funds to expand its logistics network, strengthen technology infrastructure, and support growth initiatives in its delivery business.

With the allotment completed and refunds underway for non-allocated applications, attention now turns to January 28, when trading begins. The subscription pattern highlighted strong institutional demand, with QIBs oversubscribing their portion, while the retail segment also showed solid participation.

Analysts note that the initial listing performance will be closely watched, as it will indicate investor confidence in Shadowfax’s expansion plans and operational model.

Also Read: Rupee slides to ₹92, raising costs for imports

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Adani Green Q3 profit down 99%

Adani Green Energy Ltd reported a mixed set of results for the third quarter of FY26, marked by strong revenue growth and operational expansion but a sharp decline in net profit due to rising costs.

During the December quarter, revenue from power supply grew 25 percent year-on-year to ₹2,420 crore, driven by a significant increase in generation. Energy sales volumes surged 37 percent compared to the same period last year, reflecting the commissioning of new renewable assets and improved utilisation. Consolidated revenue from operations rose about 12 percent year-on-year to ₹2,618 crore.

Operating performance remained robust. EBITDA from the power supply segment increased 23 percent year-on-year to ₹2,269 crore, underlining strong cash generation from core operations. The EBITDA margin stood at an industry-leading 91.5 percent, although it was marginally lower than the 92 percent recorded in the year-ago quarter, indicating some pressure from rising operating costs.

However, this strong top-line and operating performance did not translate into bottom-line growth. Consolidated net profit attributable to owners plunged by nearly 99 percent year-on-year to ₹5 crore. The sharp fall was primarily due to higher depreciation and interest expenses following aggressive capacity additions, along with the impact of one-off exceptional items during the quarter.

On the operational front, Adani Green continued to scale up rapidly. Its total operational renewable energy capacity expanded 48 percent year-on-year to 17.2 GW. A significant portion of the additions came from the Khavda renewable energy park in Gujarat, which is progressing as the world’s largest renewable energy installation and remains a key growth driver for the company.

Despite near-term pressure on profitability, the company reiterated confidence in its long-term growth strategy. Adani Green said it remains on track to achieve its target of 50 GW of renewable capacity by 2030, supported by a strong project pipeline and India’s accelerating transition towards clean energy.

Also Read: Adani Group fully acquires IANS

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Qure.ai wins $8 million grant from Gates foundation

Health-tech company Qure.ai has received an $8 million grant from the Bill & Melinda Gates Foundation, bringing fresh momentum to the fight against tuberculosis and pneumonia, two diseases that still claim millions of lives every year, largely due to late diagnosis.

The funding will help Qure.ai develop AI-powered point-of-care ultrasound tools designed for use by frontline health workers. These tools aim to make early diagnosis possible in places where access to specialist doctors and advanced imaging facilities is limited, such as rural clinics and community health centres.

Founder and CEO Prashant Warier said the grant reflects a shared belief that technology should serve people where the need is greatest. He noted that ultrasound, when paired with AI, has the potential to become a simple, affordable, and reliable diagnostic option at the point of care.

For many patients, especially in underserved regions, reaching a hospital with a trained radiologist can take days or even weeks. Qure.ai’s technology seeks to bridge this gap by combining portable ultrasound devices with artificial intelligence that can quickly analyse images and flag signs of lung disease. This can help healthcare workers make faster decisions and start treatment sooner.

A key part of the project is the creation of a large, open medical database made up of anonymised chest X-rays, ultrasound images, CT scans, lung sound recordings, and lab data. By making this data available to researchers around the world, Qure.ai hopes to encourage collaboration and speed up innovation in lung disease diagnosis.

Also Read: Arijit Basu named part‑time chairman of IndusInd Bank

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JSW Steel Q3 net profit rises 2.4x to Rs 2,410 cr

JSW Steel Ltd reported a strong increase in its consolidated net profit for the third quarter of the 2025–26 fiscal year, surpassing market expectations. The company posted a net profit of Rs 2,410 crore for the quarter ending December 31, 2025, more than double the Rs 719 crore recorded in the same period last year. The growth was driven by higher steel sales volumes and the recognition of one-time tax benefits.

Revenue from operations rose to approximately Rs 45,200–45,990 crore, up around 10–11 percent year‑on‑year. Saleable steel sales increased roughly 14 percent to 7.64 million tonnes, while crude steel production grew about 6–7 percent. Strong domestic demand from construction, automotive, and other sectors supported this growth.

The profit surge was further aided by the recognition of deferred tax assets of about Rs 1,439 crore, linked to unabsorbed depreciation in Bhushan Power and Steel Ltd. This accounting adjustment significantly boosted reported earnings for the quarter.

On the operational side, consolidated EBITDA rose about 20 percent year‑on‑year to Rs 6,496 crore. Despite the increase, margins narrowed slightly compared with the previous quarter, reflecting pressure on steel prices and rising input costs.

Looking ahead, JSW Steel plans continued investment in capacity expansion, including a major greenfield project in Odisha and potential growth at its Dolvi plant in Maharashtra.

Also Read: Adani Group fully acquires IANS

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Infosys to recruit 20,000 freshers in FY27

Bengaluru-based IT major Infosys is gearing up for one of its largest campus recruitment drives, planning to hire 20,000 fresh graduates in the financial year 2027 (FY27). CEO Salil Parekh announced the initiative during the World Economic Forum (WEF) in Davos, emphasizing the growing demand for talent in artificial intelligence (AI)–driven services and digital transformation projects.

The company’s recruitment drive, covering April 2026 to March 2027, comes amid global tech layoffs and uncertainty in the IT sector. Despite this, Infosys has maintained strong hiring momentum, with around 18,000 freshers onboarded in the first nine months of FY26. The total fresher intake for the current fiscal is expected to reach 20,000.

Parekh explained that the surge in AI adoption by clients is creating new work opportunities, even as some traditional IT services face pressure. Companies are increasingly deploying AI agents and foundation models at scale, particularly in financial services, where Infosys is emerging as a preferred partner. “We are working on real, scalable AI projects with 15 of our 25 largest financial services clients,” Parekh noted.

He added that pricing models for AI-driven projects are still evolving, as clients balance human and AI resources. However, clearer frameworks are expected as adoption grows. Economic signals, especially from the US, are also encouraging cautious optimism for tech spending.

Infosys’s planned FY27 hiring reflects its strategy to align workforce expansion with AI-led demand, ensuring it remains competitive despite global headcount reductions in the IT industry. This move underscores the company’s focus on modernizing services and capturing opportunities in emerging technology areas.

The recruitment drive also signals confidence in India’s talent pool, with the company aiming to equip fresh graduates with AI skills and integrate them into projects that support digital transformation across sectors.

Also Read: Arijit Basu named part‑time chairman of IndusInd Bank

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IndusInd Bank Q3 net profit drops 91% to ₹128 cr

Private sector lender IndusInd Bank reported a significant decline in financial performance for the third quarter of FY26 (ended 31 December 2025), reflecting ongoing headwinds in the banking sector. The bank’s net profit plunged sharply on a year‑on‑year (YoY) basis, while core interest income also weakened amid elevated provisions and cautious balance sheet management.

On a consolidated basis, IndusInd Bank posted a net profit of ₹128 crore in Q3, down nearly 91 per cent compared with ₹1,402 crore in the year‑ago quarter. Standalone profit after tax (PAT) fell 88.5 per cent to ₹161 crore, broadly in line with market estimates.

The bank’s Net Interest Income (NII), a key driver of bank earnings, contracted approximately 13 per cent YoY to around ₹4,562 crore, reflecting slower loan growth and margin pressures. However, NII showed a modest sequential improvement of about 3 per cent over the previous quarter. Net interest margins (NIMs) inched up slightly to 3.52 per cent from 3.32 per cent in Q2 FY26, indicating some stabilization in core lending spreads.

Fee and other non‑interest income also weakened, with total other income falling to ₹1,707 crore from ₹2,355 crore a year earlier, further compressing overall revenue. Pre‑Provision Operating Profit (PPOP) declined around 37 per cent YoY to ₹2,270 crore.

Asset quality remained under watch. Gross non‑performing assets (NPAs) increased to 3.56 per cent of gross advances, up from 2.25 per cent a year ago, while net NPAs rose to 1.04 per cent. The provision coverage ratio remained healthy at around 72 per cent, reflecting coverage against stressed loans.

On the balance sheet, total deposits and advances contracted versus the prior year, evidencing a cautious approach to growth.

Also Read: Zoho launches made‑in‑India ERP

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Zoho launches made‑in‑India ERP

Chennai‑based Zoho Corporation has launched its new enterprise resource planning (ERP) software from Kumbakonam in Tamil Nadu, marking a significant push to offer a homegrown alternative to global ERP systems. The launch reinforces Zoho’s focus on building deep‑tech products domestically while expanding technology jobs beyond major cities.

The Zoho ERP platform integrates key business functions including financial management, billing, supply chain, payroll, compliance, and asset tracking into a single system. Unlike conventional ERP solutions that add artificial intelligence (AI) as an afterthought, Zoho’s platform embeds AI across modules, enabling predictive insights, voice‑based assistance, anomaly detection, automation, and continuous intelligence for finance and operations. The system also offers low‑code and no‑code customization, allowing businesses to adapt the platform without heavy reliance on consultants.

The ERP targets industries such as manufacturing, distribution, retail, and non‑profits, with future updates planned to expand sector‑specific functionalities. Zoho emphasizes that the product is developed primarily by its Kumbakonam team, reflecting the company’s commitment to tech sovereignty. Founder Sridhar Vembu highlighted the importance of nations controlling critical technologies, positioning Zoho’s solution as a cost‑effective, flexible alternative to legacy global ERP systems, which are often expensive and slow to deploy.

As part of its growth strategy, Zoho plans to significantly expand its Kumbakonam operations. The regional office, established in 2020, currently employs around 200 professionals. The company intends to build a new campus capable of accommodating up to 2,000 employees by 2026, reinforcing its hub‑and‑spoke model of cultivating tech talent in smaller towns. Zoho will remain privately held, focusing on reinvesting in research and development rather than pursuing an initial public offering.

With this launch, Zoho aims to strengthen India’s presence in the global ERP market while creating high‑skilled technology jobs in rural regions, demonstrating that world‑class software innovation can thrive outside metropolitan hubs.

Also Read: Adani Group fully acquires IANS

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Adani Group fully acquires IANS

The Adani Group has completed the full acquisition of Indo-Asian News Service (IANS) after purchasing the remaining 24 per cent stake, making the news agency a wholly owned subsidiary of the conglomerate’s media arm.

The transaction was carried out through AMG Media Networks Ltd (AMNL), a subsidiary of Adani Enterprises Ltd, on January 21, 2026. While the group confirmed the completion of the takeover through regulatory disclosures, the financial details of the deal were not made public. With this move, IANS India Private Limited has become a step-down subsidiary of Adani Enterprises.

Adani’s association with IANS began in December 2023, when AMG Media Networks acquired a 50.50 per cent controlling stake, marking the group’s entry into the news agency space. In January 2024, AMNL further increased its holding to 76 per cent of voting shares, along with an overwhelming majority of non-voting shares. The latest acquisition involved the purchase of the entire remaining shareholding, completing the full takeover.

Founded in 1986, IANS is among India’s well-established news agencies, providing content to print, television and digital media platforms across the country. It offers news and features in multiple languages and serves a broad client base that includes newspapers, television channels, websites and mobile platforms.

The full acquisition of IANS fits into the Adani Group’s larger strategy to expand its presence in the media and information sector, a diversification drive that began in 2022. AMG Media Networks was set up as the group’s dedicated media investment arm to build a strong footprint across news, digital publishing and broadcasting.

Over the past few years, the Adani Group has steadily expanded its media portfolio. It acquired a controlling stake in NDTV, invested in Quintillion Business Media, which operates the business news platform BQ Prime, and strengthened its digital and broadcast capabilities. The complete ownership of IANS adds a traditional newswire to this portfolio, giving the group access to a key source of syndicated news content.

Industry observers say that owning a news agency such as IANS allows the group to strengthen its position across the content creation and distribution ecosystem, complementing its existing media assets while reinforcing its long-term diversification plans.

Also Read: TikTok strikes US deal to stay online

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Sensex falls 770, Nifty drops below 25,100

At the end of trading on Friday, the Sensex fell about 770 points to 81,538, while the Nifty dropped around 241 points to 25,049, sliding below the 25,100 mark. The broader sentiment turned cautious as profit booking intensified and selling pressure emerged across major sectors.

Early in the session, GIFT Nifty futures had hinted at a positive start, supported by gains in Asia and stronger cues from global markets. Asian indices such as Hang Seng and Straits Times were up about 0.5 percent, and U.S. markets had extended gains, lifting sentiment ahead of the Indian open.

However, the positive start did not translate into sustained buying. Market participants booked gains near intra‑day highs, and the indices reversed course, closing lower. The Indian rupee weakened further, ending at a fresh record low of around ₹91.96 against the U.S. dollar, adding to investor caution.

Several individual stock developments featured in the live market action. Nippon India Small Cap Fund increased its stake in Landmark Cars, while Goldman Sachs and Polar Capital trimmed their positions in the company. Sun Pharma received approval to market a generic semaglutide injection in India, a development that could impact the pharmaceutical segment.

On the earnings front, DLF reported a 13.6% rise in consolidated net profit for Q3 FY26, and multiple other companies,  including Shriram Finance, Cipla, JSW Steel, and IndusInd Bank,  were set to announce quarterly results.

Also Read: Sensex sees volatile moves, Nifty stays close to 25,300