Category: Corporate

Categories
Corporate

Flipkart IPO put on hold, focus shifts to profits

Flipkart is expected to delay its long-awaited stock market debut as its parent company Walmart pushes the e-commerce firm to focus on profitability instead of rushing into an IPO.

According to reports, Walmart has advised Flipkart to hold off on listing plans until the company shows steady financial improvement. The goal is to first reach stronger earnings performance, including an internal target of breaking even at the EBITDA level by FY2027.

Flipkart had been widely expected to go public in the next couple of years, with earlier market expectations pointing to a possible IPO around 2026–27. However, that timeline now appears uncertain, with some reports suggesting the listing could be pushed as far as 2028.

The shift reflects a broader change in strategy. Instead of focusing on valuations and market entry, Flipkart is now being encouraged to strengthen its core business and improve margins. That includes cutting losses, improving efficiency, and growing higher-profit areas like advertising, fintech services, and logistics.

Walmart’s direction signals a more cautious approach, prioritising long-term stability over short-term listing goals. The idea is that Flipkart should enter the public markets only when its financial performance is strong enough to support sustained investor confidence.

Flipkart, one of India’s biggest e-commerce companies, has been preparing for an IPO for several years. The company has gone through multiple rounds of restructuring and investment to prepare for a potential listing.

However, changing market conditions and increased pressure on profitability across global tech companies have slowed down many IPO plans in the startup sector.

Also Read: New Google accounts may face 5GB storage limit

Categories
Corporate

ITC Hotels to acquire The Zuri Kumarakam for ₹205 cr

ITC Hotels has announced plans to acquire The Zuri Kumarakom, Kerala Resort & Spa for ₹205 crore, marking a major step in expanding its luxury hospitality business. The acquisition will give the company ownership of one of Kerala’s well-known premium resorts and strengthen its presence in one of the country’s most popular leisure destinations.

Located in Kumarakom on the banks of Vembanad Lake, the resort is known for its scenic backwater setting and attracts both domestic and international visitors. Spread across nearly 18 acres, the property includes rooms, villas, wellness facilities and recreational spaces designed for luxury travellers.

The acquisition is significant as it will become ITC Hotels’ first owned resort property in Kerala. The company plans to integrate the resort into its hospitality network and further improve guest experiences through its services and offerings.

ITC Hotels said the move is part of its long-term growth strategy, with a stronger focus on expanding in key tourism destinations across India. Kerala remains an important market due to its popularity among travellers seeking nature, wellness and backwater tourism experiences.

The announcement also came alongside the company’s latest financial results, where ITC Hotels reported a rise in quarterly profit. The hospitality company has been steadily expanding its footprint and aims to significantly increase the number of hotels and rooms under its portfolio over the coming years.

Also Read: New export duty rules for fuel from May 16

Categories
Corporate

Sensex falls 160 points, Nifty below 23,650

Indian equity markets ended Friday’s session on a weak note, with benchmark indices slipping amid pressure from rising crude oil prices and cautious global sentiment.

The Sensex closed 161 points lower at around the 78,300 level, while the Nifty ended below the 23,650 mark. Selling pressure was seen in auto, energy, and select infrastructure stocks, while banking and IT counters offered limited support.

Investor sentiment remained cautious as crude oil prices stayed elevated due to ongoing geopolitical tensions in West Asia. Higher fuel costs raised concerns over inflation and margin pressures for companies dependent on transportation and raw materials.

Among gainers, Infosys, Hindustan Unilever (HUL), and ICICI Bank saw buying interest, helping limit deeper losses in the broader market.

On the losing side, Tata Motors, ONGC, and Adani Ports declined, tracking weakness in energy and commodity-linked sectors. Rising crude oil prices continued to weigh on sentiment for oil marketing and logistics-related stocks.

Broader Asian markets showed mixed cues, while foreign institutional investor activity remained cautious. Currency fluctuations and global oil price movements further influenced intraday volatility.

Analysts said markets are likely to remain sensitive to crude oil trends and geopolitical developments in the near term. Persistent high energy prices may keep inflation concerns elevated and impact corporate earnings outlook.

 Investors are expected to track macroeconomic data, foreign fund flows, and crude oil trends for further direction.

Also Read: Roche introduces 7-minute lung cancer shot in India

Categories
Corporate

JSW Steel plans ₹14,000 crore fundraising

JSW Steel has approved plans to raise ₹14,000 crore and cleared the merger of BMM Ispat as part of its expansion strategy.

The company’s board approved fundraising through a combination of debentures, equity shares and convertible securities. JSW Steel said the funds will support future expansion, business growth and operational requirements.

The board also approved the merger of BMM Ispat with JSW Steel. Industry experts believe the merger will strengthen the company’s long steel products business and improve production efficiency.

BMM Ispat operates a steel manufacturing plant in Karnataka with a production capacity of around one million tonnes annually. The facility is located near JSW Steel’s Vijayanagar plant, which is expected to help reduce transportation costs and improve operations after the merger.

Company officials said the acquisition would also provide access to additional land for future expansion projects. Analysts noted that large steel companies are increasing investments as domestic demand for steel remains strong due to infrastructure projects, housing development and industrial growth.

The fundraising plan comes at a time when JSW Steel has reported strong financial performance and rising production capacity. Market experts said the latest decisions reflect the company’s focus on strengthening its position in India’s growing steel sector.

Also Read: DLF plans ₹20,000 cr luxury housing push

Categories
Corporate

Cerebras IPO lists high at $185 per share

US-based AI chipmaker Cerebras Systems has priced its initial public offering (IPO) at $185 per share, marking one of the biggest tech listings of the year. The company is expected to begin trading on the Nasdaq stock exchange under the ticker “CBRS”.

The IPO received strong response from investors as interest in artificial intelligence companies continues to grow worldwide. Due to high demand, Cerebras increased both the share price and the number of shares offered before the listing.

Cerebras is known for building advanced AI chips designed for large-scale artificial intelligence tasks and high-performance computing. The company is considered one of the main competitors to AI chip giant NVIDIA.

Reports said the IPO could raise billions of dollars for the company and significantly boost its market valuation. Analysts believe investor confidence in AI infrastructure and semiconductor companies has remained strong because of the rapid expansion of generative AI technologies.

The California-based company has gained attention through major AI partnerships and infrastructure projects in recent months. It has also reported strong revenue growth as demand for AI computing power continues to increase globally.

Also Read: Petrol, diesel up by ₹3, CNG prices by ₹2

Categories
Corporate

Sensex falls 100 points as Nifty tests 23,700

Indian equities opened on a subdued note on Friday, tracking mixed global cues and weakness in GIFT Nifty, which signaled a cautious start for domestic benchmarks. Investors remained on the sidelines amid concerns over rising crude oil prices and uneven global risk sentiment.

The Sensex slipped over 100 points in opening trade to hover around the 78,400 mark, while the Nifty 50 traded below the crucial 23,700 level during early deals, reflecting subdued investor sentiment.

Among early gainers, select banking stocks provided support, with private lenders leading mild upside traction. Financials remained relatively resilient, helped by steady credit outlook and selective buying at lower levels. Defence-linked and capital goods names also showed early strength on stock-specific momentum.

On the losers’ side, IT stocks came under early pressure, extending weakness seen in previous sessions due to concerns over global tech demand and cautious client spending. Oil-sensitive and energy-linked stocks also slipped, tracking higher crude prices, which raised fears of margin pressure and inflationary impact.

Stock-specific activity remained active. Adani Enterprises was among the most tracked counters in early trade, moving on sectoral cues and broader market sentiment. Meanwhile, Tata Motors, particularly its passenger vehicle (PV) segment, saw movement as investors reacted to demand outlook and input cost trends in the auto space.

Broader market sentiment stayed cautious, with traders preferring selective positioning over aggressive bets. While buying interest in financials provided some cushion, weakness in IT and energy-linked stocks limited upside momentum.

Also Read: LinkedIn to cut 5% of workforce in latest restructuring

Categories
Corporate

Adani Airports, IHG to build five airport-linked hotels across India

Adani Airport Holdings has entered into a partnership with global hospitality company IHG Hotels & Resorts to develop five new hotels across important airport locations in India.

The agreement will add around 1,500 hotel rooms across multiple cities, with projects planned in Jaipur, Mangaluru, Thiruvananthapuram, and the Mumbai Metropolitan Region, including Navi Mumbai. These hotels will be built as part of Adani’s wider airport-led development strategy, which focuses on creating commercial ecosystems around airports.

The aim is to improve passenger convenience and support growing travel demand by offering accommodation closer to major aviation hubs. The hotels are expected to serve a mix of business travellers, tourists, and transit passengers who often require short-stay options near airports.

The development will include several well-known IHG brands such as Holiday Inn, Holiday Inn Express, and Kimpton Hotels & Restaurants. A key highlight of the partnership is the entry of Kimpton Hotels into India for the first time, bringing a premium lifestyle hospitality brand known for boutique-style luxury experiences.

Adani Airport Holdings said the collaboration supports its long-term plan of transforming airports into integrated urban centres. Instead of functioning only as transport facilities, the airports are being designed to include hotels, retail spaces, and other commercial developments that can enhance both passenger experience and non-aeronautical revenue.

IHG Hotels & Resorts said India remains one of its most important growth markets, especially as air travel expands rapidly and new airport infrastructure is being developed across the country. The company already operates several hotels in India and sees strong demand in airport-linked locations.

Also Read: Adani Ports partners Oceaneering for Europe expansion

Categories
Corporate

L&T bags ₹1,000-2,500 cr middle east power orders

Larsen & Toubro (L&T) has secured major power transmission projects in the Middle East, strengthening the company’s presence in one of the world’s fastest-growing infrastructure markets.

The projects, valued between ₹1,000 crore and ₹2,500 crore, were awarded to L&T’s Power Transmission & Distribution business. The work mainly involves building high-voltage substations and related power infrastructure to improve electricity networks in the region.

The company said the contracts include engineering, procurement and construction work for advanced transmission systems designed to support rising energy demand and improve grid stability.

Although L&T did not officially reveal the countries involved, the projects are believed to be part of large-scale infrastructure expansion plans underway across Gulf nations. Several countries in the Middle East are investing heavily in power networks, urban development and industrial growth as they prepare for increasing energy needs in the coming years.

Industry experts say the Gulf region is focusing not only on expanding electricity supply but also on modernising power infrastructure to support renewable energy and smarter grid systems.

For L&T, the latest order win is seen as another important boost to its international business. The company has built a strong reputation in executing large infrastructure and energy projects across India and overseas markets.

The announcement also reflects the growing global presence of Indian engineering companies, especially in sectors like energy, transport and construction.

Also Read: Anduril valuation jumps to $61 bn after funding

Categories
Corporate

Anduril valuation jumps to $61 bn after funding

US defence technology company Anduril Industries has raised $5 billion in fresh funding, pushing its valuation to $61 billion and making it one of the world’s most valuable private tech firms.

The company, founded in 2017, builds advanced defence systems including drones, surveillance platforms and AI-powered military software used by the US and allied governments. The latest investment reflects growing global interest in defence technology as countries increase spending on security and military modernisation.

The funding round was led by major venture capital firms including Thrive Capital and Andreessen Horowitz. Anduril said the money will be used to expand manufacturing, develop new technologies and strengthen its AI-based defence systems.

The company has grown rapidly in recent years as governments focus more on autonomous weapons, border surveillance and artificial intelligence in military operations. Industry experts say global conflicts and rising geopolitical tensions have increased demand for advanced defence technology, attracting strong investor interest in companies like Anduril.

Anduril has also secured several contracts with the US government and defence agencies, helping boost its revenue and market value. Reports suggest the company’s revenue has doubled over the past year.

The rise of Anduril reflects a larger shift in the technology industry, where defence startups are now receiving strong support from investors after years of limited interest in military-focused businesses.

Also Read: Uber, Adani join hands for India data centre

Categories
Corporate

Sensex shoots up 812 points, Nifty crosses 23,650

Stock markets ended sharply higher on Thursday, with the Sensex surging 812 points and the Nifty closing above the 23,650 mark as investors returned to buying after recent volatility.

The BSE Sensex closed at around 75,400, while the NSE Nifty settled above 23,650, supported by strong gains in banking, financial and technology stocks. Market sentiment improved as investors looked past global uncertainties and focused on bargain buying and positive corporate earnings.

Among the top gainers were Infosys, HDFC Bank, Reliance Industries, ICICI Bank and Bharti Airtel, which saw strong buying throughout the session. On the losing side, stocks like ITC and Nestlé India witnessed mild profit booking.

Global markets also remained supportive, with investors closely tracking developments in US-China talks and hopes of easing international economic tensions. Positive trends in Asian and European markets added to the upbeat mood on Dalal Street.

Another factor supporting the rally was optimism around possible policy measures to attract foreign investment and stabilise the rupee. Reports suggesting potential tax relief on foreign bond investments helped improve investor sentiment.

Analysts said the rally was driven by a combination of positive global cues, easing market volatility and renewed investor confidence. Strong buying was seen in stocks that had declined sharply in recent sessions amid worries over rising crude oil prices and geopolitical tensions linked to the Iran conflict.

Market experts also pointed to better-than-expected quarterly earnings from several major companies, which boosted confidence in India’s economic outlook despite global uncertainties.

Also Read: Uber, Adani join hands for India data centre