Category: Corporate

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Corporate

Musk moves to oust OpenAI CEO Altman

Elon Musk has stepped up his legal battle with OpenAI, now asking the court to remove CEO Sam Altman from his position. He is also seeking the removal of OpenAI president Greg Brockman as part of the case.

Musk, who helped start OpenAI in 2015, has been critical of how the company has changed over time. In his lawsuit, he claims OpenAI has moved away from its original goal of working as a non-profit focused on public benefit and has instead become more profit-driven.

According to Musk, he supported the organisation in its early days based on the idea that it would remain non-commercial. He now argues that the company’s current structure and partnerships go against that vision.

As part of the updated lawsuit, Musk is also seeking huge financial damages, reportedly over $100 billion. However, he has said that any money awarded should go to OpenAI’s non-profit arm, not to him personally.

OpenAI has strongly denied these claims. The company says Musk’s accusations are unfounded and has pushed back against his demands, calling them disruptive. It has also suggested that Musk’s actions may be influenced by competition, as he now runs his own AI company, xAI.

The dispute highlights the growing tension between Musk and OpenAI, especially as both are now competing in the fast-moving artificial intelligence space.

Also Read: Policybazaar CEO Tarun Mathur resigns

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Corporate

LIC eyes first bonus share issue

Life Insurance Corporation of India (LIC) is likely to announce its first-ever bonus share issue, with its board scheduled to meet on April 13, 2026, to review the proposal. This could be a key milestone for the insurer since it was listed on the stock market.

In an official update, LIC said its board of directors will discuss the possibility of issuing bonus shares to existing shareholders. If the plan is approved, it will still need shareholder approval before it is implemented.

A bonus share issue means investors receive additional shares at no extra cost, based on how many shares they already own. While this increases the number of shares held, the overall value of the investment stays the same, as the share price adjusts accordingly.

This would be the first time LIC is offering bonus shares. Until now, the company has mainly rewarded its investors through dividends. Market experts believe a bonus issue could help improve trading activity in the stock and make it more attractive to retail investors.

The news has already lifted investor sentiment. LIC’s share price saw a noticeable rise after reports of the possible bonus issue, reflecting optimism in the market.

The company has also temporarily closed its trading window, following standard rules, until a couple of days after it announces its financial results for the year ending March 2026.

Also Read: $64bn takeover bid for universal music

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Corporate

$64bn takeover bid for universal music

Universal Music Group, the world’s largest music label, has received a massive $64 billion takeover offer from billionaire investor Bill Ackman and his firm Pershing Square Capital Management.

The proposal includes both cash and shares and is aimed at buying out current investors to take greater control of the company. Universal Music has confirmed it received the offer and said its board is reviewing it carefully before making any decision.

Ackman, who is already an investor in the company, believes the music giant is undervalued. According to him, factors like where the company is listed and how it is structured may be holding back its true market value. Through this deal, he hopes to unlock more growth and attract a wider pool of investors.

One possible change under the proposal is shifting the company’s stock listing to the United States. This could increase visibility among global investors and potentially boost its valuation further.

Universal Music represents some of the biggest names in the music industry and plays a key role in shaping global music trends. Despite its strong position, decisions like this takeover depend heavily on the approval of major shareholders.

Some large investors, including those linked to the Bolloré family, hold significant stakes in the company. Their support will be crucial for the deal to move forward.

Also Read: Disney plans 1,000 job cuts

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Corporate

Canva buys two AI startups in expansion push

Canva is stepping up its push into artificial intelligence with the acquisition of two startups, Simtheory and Ortto, as it looks to expand beyond its core design business.

The move is part of a broader strategy to turn Canva into a more comprehensive platform that not only helps users create content but also manage and distribute it. While the company has not disclosed the financial details of the deals, the focus is clearly on strengthening its AI and marketing capabilities.

Simtheory brings tools that allow teams to build and deploy AI-powered assistants capable of handling complex tasks across workflows. These systems can help automate processes, making collaboration faster and more efficient.

Ortto, meanwhile, specialises in customer data and marketing automation. Its platform helps businesses run and track campaigns across multiple channels, including email, messaging, and apps, all from a single interface. By integrating these capabilities, Canva aims to offer users more control over how their content reaches audiences.

Both startups were founded by entrepreneurs Chris and Mike Sharkey, who will now join Canva and contribute to its growing AI and product teams.

The acquisitions reflect a larger shift in Canva’s direction. Once known primarily as a design tool for individuals and small businesses, the company is now positioning itself as a full “work platform” that combines creativity with automation and analytics.

This expansion comes at a time when artificial intelligence is rapidly reshaping the tech industry. Companies are racing to build smarter tools that not only generate content but also help manage workflows and improve productivity.

Canva has been actively acquiring companies to stay competitive in this evolving space. The addition of Simtheory and Ortto is expected to strengthen its ability to serve businesses looking for integrated solutions rather than standalone tools.

Also Read: Anthropic delays new AI model over risks

 

 

 

 

 

 

 

 

 

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Corporate

Sensex rises to 3000 points, Nifty hovers near 24,000

Indian equity markets delivered a powerful rally on April 8, 2026, with benchmark indices posting gains of nearly 4 per cent, driven by strong global cues and easing geopolitical concerns.

The BSE Sensex surged 2,946 points to close around 77,562, while the Nifty50 jumped 874 points to hover near the 24,000 mark. The sharp rise reflected renewed investor confidence after recent volatility.

The rally was led by banking and financial stocks, with HDFC Bank and ICICI Bank seeing strong buying interest. Auto stocks such as Mahindra & Mahindra also advanced, while realty counters posted solid gains amid improved sentiment.

Among the broader market, metal and infrastructure stocks contributed to the upside, supported by easing commodity prices. Midcap and smallcap indices also moved higher, indicating widespread participation across sectors.

However, not all sectors joined the rally. IT stocks, including Infosys, came under pressure due to weak global tech cues. Defensive names such as Hindustan Unilever also lagged, as investors shifted focus toward cyclical and growth-oriented sectors.

Also Read: Infosys, Harness team up for AI delivery

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Corporate

Infosys, Harness team up for AI delivery

Infosys has partnered with Harness to improve how enterprises build and deliver software using artificial intelligence. The collaboration focuses on fixing inefficiencies that arise after code is written, especially in testing, deployment and operations.

While AI tools have significantly accelerated coding, companies still face delays and risks in the later stages of software delivery. These include manual processes, security checks and performance monitoring, which often slow down releases. Infosys and Harness aim to close this gap by introducing AI-driven automation across the entire software lifecycle.

As part of the partnership, Infosys will integrate its AI-led platforms, including Topaz and its cloud capabilities, with Harness’ software delivery solutions. This will enable businesses to automate key processes such as continuous integration, testing, deployment and monitoring, making software releases faster and more reliable.

The companies said the collaboration will help reduce manual intervention, improve productivity and ensure better governance. This is particularly important as enterprises scale up AI adoption and need stronger control over how applications are deployed and managed.

Another key benefit is expected in cost and efficiency. By automating repetitive tasks, engineering teams can spend less time on maintenance and more time on innovation. This can lead to quicker product launches and improved customer experience.

The partnership is also aimed at supporting large digital transformation and modernisation programmes, especially in industries where reliability and compliance are critical. Faster deployment cycles combined with improved system stability are expected to be major outcomes.

Industry observers note that the move reflects a broader shift in the technology sector. Companies are no longer focusing only on AI-assisted coding but are increasingly looking at end-to-end AI-driven software delivery.

Also Read: Beacon Group names Dr Rajesh Patel as CEO

 

 

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Corporate

Sensex jumps 2,900 points, Nifty nears 24,000

Indian equity markets staged a powerful rally, with benchmark indices posting sharp gains amid supportive global and domestic cues. The BSE Sensex surged about 2,900 points to close around 77,500, while the Nifty 50 climbed nearly 870 points to settle close to the 24,000 mark, marking one of the strongest single-day performances in recent times.

The surge was driven by improved global sentiment after signs of easing geopolitical tensions, particularly a temporary pause in conflict in the Middle East. This development helped calm investor nerves and triggered buying across global markets, including India.

A key factor supporting the rally was the decline in crude oil prices. Since India is a major oil importer, softer crude prices reduce inflationary pressure and improve macroeconomic stability, making equities more attractive to investors.

Domestically, the Reserve Bank of India’s latest monetary policy also reassured markets. The central bank kept interest rates unchanged and maintained a balanced outlook on growth and inflation. This signalled policy stability, encouraging investors to increase exposure to equities.

The rally was broad-based, with strong buying seen across banking, financials, auto and real estate stocks. Banking stocks led the charge, supported by stable interest rate expectations, while auto and realty sectors gained on improved demand outlook. Midcap and smallcap stocks also outperformed, rising sharply and reflecting strong participation beyond frontline indices.

Several heavyweight stocks contributed significantly to the upward move, with industrial, consumer and metal stocks posting notable gains. Positive business updates and sectoral tailwinds further boosted investor sentiment.

The sharp rise also led to a substantial increase in investor wealth, with overall market capitalisation of listed companies jumping significantly in a single session. At the same time, the Indian rupee strengthened against the US dollar, indicating renewed foreign investor interest.

Also Read: Anthropic signs long-term AI chip deal

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Corporate

KreditBee raises $280 million, eyes IPO

Digital lending platform KreditBee has raised $280 million in a fresh round of funding, pushing its valuation to $1.5 billion and helping it enter the unicorn club.

The Bengaluru-based company attracted investments from both new and existing backers, reflecting growing confidence in its business model despite a slowdown in large funding deals across the fintech sector. The latest funding marks a major milestone for KreditBee as it continues to expand its presence in India’s fast-growing digital lending market.

KreditBee said it will use the new funds to scale up its lending operations and broaden its range of financial services. The company plans to grow its loan book, strengthen its assets under management, and explore new offerings such as insurance and wealth products. Its core focus, however, will remain on providing quick and accessible personal loans to customers through its digital platform.

Founded in 2016, KreditBee primarily caters to young professionals and first-time borrowers, offering unsecured loans with a fully online application process. Over the years, it has built a large customer base across the country and continues to see steady demand for its services.

The company is also investing in technology to improve efficiency and customer experience. It is increasingly using data analytics and artificial intelligence to assess credit risk, speed up approvals, and tailor financial products to user needs.

Looking ahead, KreditBee has set its sights on going public. The company is targeting an initial public offering (IPO) by early 2027 and has already begun preparing for it by strengthening its corporate structure and compliance processes.

Industry observers say the successful fundraise signals renewed investor interest in India’s fintech space, particularly in companies that demonstrate strong growth and disciplined risk management.

Also Read: IndiGo aircraft damaged by catering truck in Kolkata

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Jubilant shares drop 10% on weak Q4 growth

Shares of Jubilant FoodWorks tumbled about 10% after the company reported subdued same-store sales growth for the fourth quarter, disappointing investors despite strong revenue expansion.

The Domino’s Pizza operator posted like-for-like sales growth of just around 0.2% in Q4, signalling near-stagnant demand at existing outlets. The figure fell short of market expectations and raised concerns about the pace of recovery in the quick-service restaurant (QSR) segment.

Analysts said the weak performance reflects pressure on consumer spending as well as operational challenges. While new store additions and expansion helped drive overall revenue growth, core demand at established outlets remained soft. This mismatch between revenue growth and same-store performance triggered a negative reaction in the stock market.

A key factor impacting the quarter was disruption in the supply of commercial LPG, which is essential for daily restaurant operations. The company indicated that these supply issues affected store functioning and led to lost sales opportunities during the period.

Despite these challenges, Jubilant FoodWorks reported a strong year-on-year increase in revenue, supported by store expansion and improved delivery channels. However, investors focused more on the weak underlying demand trend reflected in same-store sales, which is considered a key indicator of business health.

The broader QSR sector has been facing multiple headwinds, including rising input costs, competitive pricing pressure, and uneven demand recovery. Industry players have been relying on promotions and value offerings to attract customers, which has also impacted margins.

Following the update, the company’s shares fell sharply, reflecting concerns over growth visibility and profitability. Market participants remain cautious about near-term performance, especially if operational disruptions continue or consumer demand stays weak.

Also Read: Rupee gains 50 paise to 92.56 against US dollar

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Corporate

Sensex jumps 3,000 points, Nifty nears 24,000

Indian stock markets rallied sharply on April 8, 2026, with benchmark indices posting strong gains amid positive global and domestic cues. The BSE Sensex surged nearly 3,000 points, while the NSE Nifty moved closer to the 24,000 level, reflecting a strong risk-on sentiment among investors.

The rally was driven largely by improving global conditions. A temporary ceasefire between the United States and Iran helped ease geopolitical concerns, lifting investor confidence across global markets. At the same time, crude oil prices declined significantly, dropping below $100 per barrel, which is a major positive for India as a net oil importer. Lower oil prices are expected to ease inflationary pressures and support economic growth.

Back home, the Reserve Bank of India’s decision to keep the repo rate unchanged at 5.25% and maintain a neutral stance further boosted sentiment. The central bank’s steady policy outlook reassured investors about macroeconomic stability and liquidity conditions.

Among individual stocks, Larsen & Toubro emerged as a top gainer, supported by optimism around its Middle East exposure and order pipeline. InterGlobe Aviation (IndiGo) also rallied sharply, benefiting from the drop in crude oil prices, which improves airline profitability.

On the flip side, some stocks witnessed mild selling pressure. Defensive names, particularly in the pharmaceutical space such as Dr Reddy’s Laboratories, underperformed. Select Adani group stocks, including Adani Enterprises and Adani Ports, also saw limited weakness amid profit booking.

Also Read: Tata Sons reviews Chandrasekaran’s leadership