Category: Corporate

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Corporate

Sensex drops 559 points, Nifty slips under 25,850

On Thursday, the BSE Sensex dropped 559 points to close near 83,675, while the Nifty 50 slipped below 25,850, ending at 25,807. Investor sentiment weakened as global macro data and domestic sector pressures combined to trigger selling across most segments of the market.

Market participants reacted cautiously to stronger-than-expected US jobs data and the likelihood that the Federal Reserve may delay interest rate cuts. This prompted a risk-off mood globally, with Indian markets reflecting the cautious stance.

Technology stocks were the biggest drag on the indices. Heavyweights such as Tech Mahindra fell about 6%, while HCL Technologies declined nearly 5%. Other IT majors including TCS and Infosys also saw losses, dragging the Nifty IT index sharply lower and contributing significantly to overall market weakness.

Meanwhile, some financial and banking stocks showed resilience, with ICICI Bank, Bajaj Finance, and State Bank of India (SBI) recording modest gains. FMCG and metal stocks held steady but could not offset the broader losses across IT and other high-beta sectors.

On the corporate front, Muthoot Finance reported a near doubling of quarterly profit, offering a rare bright spot amid a generally negative market trend. Commodity markets saw slight gains in industrial metals such as copper and zinc, while the Indian rupee finished marginally stronger against the US dollar.

Also Read: Sensex falls 400+ points, Nifty below 25,850

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Corporate

UBS opens Hyderabad hub, promising 3,000 jobs

Swiss banking major UBS has opened a new Global Capability Centre (GCC) in Hyderabad and plans to hire around 3,000 employees over the next two years. The decision boosts the bank’s presence in India and highlights Hyderabad’s growing role as a global business hub.

The new centre will support UBS’s global operations, especially in areas such as technology, digital services, and back-end financial operations. The company said the Hyderabad hub will play an important role in building advanced technology solutions and improving efficiency across its worldwide businesses.

Telangana IT and Industries Minister D. Sridhar Babu, who attended the inauguration, said the investment shows global companies’ trust in Hyderabad’s skilled workforce and strong infrastructure. He added that the state government continues to support international firms looking to expand in the region.

UBS officials said Hyderabad is a key location for the company’s long-term growth plans. The centre will focus on innovation, including digital platforms and advanced technologies such as artificial intelligence and data analytics. By expanding in India, UBS aims to strengthen its global delivery network and improve services for clients worldwide.

India has become a major destination for Global Capability Centres, with several multinational companies setting up large offices in cities like Hyderabad, Bengaluru, and Pune. These centres provide technology development, research, operations support, and other high-value services to global headquarters.

Industry experts say UBS’s expansion reflects the increasing importance of India in the global financial and technology ecosystem. The country’s large talent pool, competitive costs, and strong IT expertise continue to attract major global players.

With this new facility, UBS joins the growing list of international firms choosing Hyderabad as a strategic base for innovation and global operations.

Also Read: RBI targets bank mis-selling

 

 

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Corporate

RBI clears 9.95% stake IDFC first, then Federal Bank

The Reserve Bank of India (RBI) has approved ICICI Prudential Asset Management Company (AMC) and ICICI Bank group entities to acquire up to 9.95% stake in IDFC First Bank and Federal Bank.

Both banks informed stock exchanges that they received the RBI’s approval on February 11, 2026. The approval allows ICICI Prudential AMC, along with related entities of the ICICI Bank group, to buy up to 9.95% of the paid-up share capital or voting rights in each bank.

The permission is subject to strict regulatory conditions. The stake purchase must comply with the Banking Regulation Act, 1949, RBI’s guidelines on shareholding in banks, SEBI regulations, and rules under the Foreign Exchange Management Act (FEMA), wherever applicable.

Importantly, the RBI has given a one-year deadline to complete the acquisition. If the stake is not acquired within this period, the approval may lapse.

A 9.95% stake is considered a significant minority holding in the banking sector. While it does not give control over the bank, it allows the investor to have meaningful financial exposure and influence as a large shareholder.

Following the announcement, market participants closely tracked the development, as institutional investments by large financial groups are often seen as a sign of confidence in a bank’s growth prospects.

Also Read: Strong Q3 drives M&M profit to ₹4,675 cr

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HUL Q3 profit jumps 136% to ₹7,075 cr

Hindustan Unilever Ltd (HUL) reported a sharp 136 percent rise in net profit for the third quarter of FY26, helped mainly by a one-time exceptional gain. The company posted a standalone net profit of ₹7,075 crore for the October–December quarter, compared to ₹3,001 crore in the same period last year.

A major part of this increase came from a one-time gain of ₹4,516 crore related to the demerger of its ice-cream business. This accounting adjustment significantly boosted the bottom line. Excluding this exceptional item, the company’s underlying profit growth was much more moderate.

Revenue from operations during the quarter rose 4 percent year-on-year to ₹15,805 crore, up from ₹15,146 crore in the corresponding quarter last year. The company’s EBITDA (earnings before interest, tax, depreciation and amortisation) increased 2 percent to ₹3,640 crore. However, EBITDA margin declined by 50 basis points to 23.3 percent, reflecting input cost pressures and competitive market conditions.

HUL said demand trends showed early signs of gradual recovery, with modest underlying volume growth during the quarter. The company continues to focus on driving growth through innovation, premiumisation, and strengthening its core brands.

On the strategic front, HUL’s board approved the acquisition of the remaining 49 percent stake in Zywie Ventures for ₹824 crore. Zywie owns the health and wellness brand OZiva. With this move, Zywie and its subsidiary will become wholly owned subsidiaries of HUL. The acquisition aligns with HUL’s strategy to expand its presence in the fast-growing health and wellbeing segment.

At the same time, the company approved the sale of its entire 19.8 percent stake in Nutritionalab Private Limited, which operates the Wellbeing Nutrition brand, as part of portfolio realignment.

Following the announcement of results, HUL shares fell around 2 percent, as investors assessed the impact of the one-time gain versus core operating performance.

Also Read: ₹2,834 cr Fractal Analytics IPO subscribed 2.66 times

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Corporate

₹2,834 cr Fractal Analytics IPO subscribed 2.66 times

The ₹2,834-crore initial public offering (IPO) of Fractal Analytics closed with an overall subscription of 2.66 times on the final day of bidding, reflecting a mixed response from investors.

The IPO, priced in the band of ₹857 to ₹900 per share, saw stronger participation on the last day after a slow start. Qualified Institutional Buyers (QIBs) played a key role in lifting the issue, subscribing their portion over four times. However, retail individual investors and non-institutional investors showed relatively cautious interest, with their segments being subscribed just about one time each.

Fractal Analytics is one of India’s leading artificial intelligence (AI) and advanced analytics companies, serving global clients across industries such as healthcare, consumer goods, banking and technology. The IPO attracted attention as one of the first large pure-play AI companies from India to tap the public markets.

Despite the full subscription, market sentiment appeared guarded. The grey market premium (GMP), which indicates unofficial market expectations before listing, remained muted and even softened closer to the closing day. This suggests that investors are not expecting very strong listing gains.

The company had earlier reduced the size of its IPO compared to initial plans, possibly to improve investor appetite amid fluctuating market conditions. Analysts have pointed out that while Fractal operates in a high-growth AI segment, valuation concerns and broader market volatility may have tempered enthusiasm, especially among retail participants.

Funds raised from the IPO will be used for business expansion, investment in subsidiaries, repayment of borrowings, strengthening technology capabilities, and general corporate purposes.

Share allotment is expected to be finalised shortly, with the stock likely to list on the stock exchanges next week. Investors will closely watch the listing performance to gauge market confidence in AI-focused companies entering the public space.

Also Read: JSW Motors’ first car launch may be delayed

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Corporate

JSW Motors’ first car launch may be delayed

JSW Motors has indicated that the launch of its first passenger vehicle in India could be delayed due to regulatory hurdles related to importing key components from China. The company is preparing to enter the Indian automobile market with hybrid and electric vehicles, with its first model expected in the second half of 2026. However, approvals required for certain imported parts are still pending.

The issue relates to India’s quality control regulations, introduced in recent years to ensure that imported products meet prescribed standards. Under these rules, foreign suppliers must obtain certification before their components can be shipped to India for manufacturing use. Some of JSW Motors’ selected Chinese vendors are still awaiting these clearances, creating uncertainty around supply timelines.

According to reports, the company has written to the government seeking faster processing of licences for critical components, including specialised automotive glass used in windshields and sunroofs. JSW has said that it explored domestic sourcing options but could not find suitable alternatives for certain high-specification parts. The firm is also assessing suppliers from other countries, but shifting sourcing may increase production costs.

JSW Group, led by Sajjan Jindal, has committed significant investment to build its automotive business, including setting up manufacturing operations in Maharashtra. The company aims to compete in India’s fast-growing electric and hybrid vehicle segment, where global and domestic players are expanding aggressively.

Industry observers say the delay highlights broader challenges faced by companies dependent on imported components, particularly from China. While India is encouraging local manufacturing, the supplier ecosystem for some advanced automotive parts is still developing.

If approvals are not granted in time, JSW Motors’ planned launch schedule may need to be revised. The company, however, remains committed to its long-term strategy of establishing a strong presence in India’s new-energy vehicle market.

Also Read: Sattva Group enters Mumbai with ₹11,000 cr projects

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Corporate

Sensex falls 400+ points, Nifty below 25,850

Indian stock markets declined sharply, with heavy selling in technology shares dragging the benchmark indices lower. The BSE Sensex dropped over 400 points, while the Nifty slipped below the 25,850 mark during the session.

The fall was mainly driven by losses in major IT stocks. Infosys, TCS, HCL Tech and Tech Mahindra were among the biggest losers, falling between 2% and 4%. Investors turned cautious amid concerns about the impact of artificial intelligence on traditional IT services and uncertainties around future earnings growth. Weak global sentiment further added pressure to the sector.

Broader market sentiment was also affected by strong US economic data, particularly robust jobs numbers, which reduced expectations of early interest rate cuts by the US Federal Reserve. Higher-for-longer interest rate concerns typically reduce global risk appetite and weigh on emerging markets like India.

Despite the broad-based weakness, some stocks offered limited support to the indices. ICICI Bank, Axis Bank, NTPC and Power Grid were among the key gainers, posting modest gains during the session. However, their rise was not enough to offset the sharp decline in IT counters.

Other sectors showed mixed performance, with banking and select energy stocks holding relatively steady, while technology and some large-cap names remained under pressure.

Market analysts said that while India’s macroeconomic fundamentals remain stable, near-term volatility is likely due to global cues and sector-specific headwinds. Rising crude oil prices and cautious global trends also contributed to the subdued mood.

Also Read: Cisco launches AI networking chip

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Corporate

Sattva Group enters Mumbai with ₹11,000 cr projects

Bengaluru-based real estate developer Sattva Group has announced its entry into the Mumbai real estate market with six major redevelopment projects. Together, these projects cover more than 8 million sq ft and are valued at around ₹11,000 crore.

The projects are located in key Mumbai areas including Parel (Sewri), Prabhadevi, Goregaon East, Vile Parle West, Powai and near BKC. The company plans to start construction in 2026 and expects phased completion by 2032, with the first homes delivered around 2028.

Sattva will follow a rehabilitation-led redevelopment model, meaning they will provide upgraded homes for existing residents while also building new housing. The plan includes more than 2,500 homes for current residents and over 2,000 additional new units.

This move is a big step for Sattva, which already has a strong presence in southern cities like Bengaluru and Hyderabad. The company has completed around 78 million sq ft of projects and has 71 million sq ft under construction across India.

Bijay Agarwal, Managing Director of Sattva Group, said Mumbai is at a critical stage of urban renewal, with many old buildings needing replacement. He stressed that redevelopment in the city requires careful planning and long-term commitment, which Sattva aims to bring.

Sattva’s projects aim to modernize housing while keeping existing residents in mind, combining safety, sustainability, and better infrastructure. The company hopes its Mumbai portfolio will set an example for structured and responsible urban redevelopment in the city.

Experts say redevelopment is gaining importance in Mumbai due to limited land and high housing demand. New regulations under the DCPR 2034 are expected to make projects more feasible and attractive for developers.

Also Read: Cisco launches AI networking chip

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Carlyle invests ₹2,100 cr in Edelweiss unit

Shares of Edelweiss Financial Services surged nearly 9% on Tuesday following a sharp rise in quarterly profit and a major investment by global private equity firm The Carlyle Group.

Edelweiss reported a consolidated net profit of ₹264 crore for the December quarter, more than double the ₹125 crore earned in the same period last year. While interest income saw a slight decline, overall performance exceeded market expectations, boosting investor confidence.

The standout development was Carlyle’s agreement to invest ₹2,100 crore in Nido Home Finance, Edelweiss’s housing finance subsidiary. Under the deal, Carlyle funds will acquire a 45% stake in Nido, including ₹1,500 crore in primary equity and the rest through secondary share purchase. On a fully diluted basis, Carlyle and co-investors are expected to hold around 73% of Nido, making them the strategic majority backers.

Founded in 2010, Nido focuses on home loans for the affordable and mass-market segments, with an asset base of ₹4,804 crore and presence in over 800 talukas across India. The partnership with Carlyle is expected to strengthen Nido’s growth and expand its reach to underserved semi-urban and rural customers.

Edelweiss said the deal is part of its broader strategy to unlock value from subsidiaries and bring strong partners on board to scale key businesses. Carlyle’s involvement reflects continuing interest from global investors in India’s housing finance sector, driven by rising affordability and policy support.

Veteran banker Aditya Puri, senior advisor to Carlyle in Asia and former CEO of HDFC Bank, will also participate as a co-investor in Nido. The investment is subject to approvals from the Reserve Bank of India, National Housing Bank, and the Competition Commission of India.

Also Read: L&T wins ₹2,500 crore Dubai road project

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Sensex slips slightly, Nifty steadies at 25,900

On Wednesday, the BSE Sensex closed marginally lower, while the Nifty 50 held steady above 25,900, reflecting a session of consolidation after recent gains.

After opening with positive momentum, supported by modest gains in global markets, profit-booking in select stocks tempered the rally. Volatility remained moderate, with investors selectively buying into defensive sectors while booking profits in high-flying stocks.

Among individual stocks, SBI, Reliance Industries (RIL), and ICICI Bank emerged as top gainers, rising 2–3% during the session. These gains partially offset losses in other sectors and helped the indices hold key levels.

On the other hand, IT stocks came under pressure, with TCS, Infosys, and Wipro recording declines of 2–3%, reflecting profit-taking and rotation into banking and PSU stocks. Other laggards included HDFC Bank and HCL Tech, which also slipped amid sectoral weakness.

Market breadth was mixed, with auto and pharma stocks attracting selective buying, while mid-cap and IT names saw selling pressure. Foreign institutional investors were cautious, with some selective buying in large-cap stocks noted. The Indian rupee remained stable against the U.S. dollar, and commodity markets saw moderate inflows into safe-haven assets like gold.

Global cues were mixed, with Asian markets posting modest gains, while U.S. and European futures indicated slight upside. Analysts noted that the market is consolidating near technical support levels, and investors are awaiting fresh triggers for a sustained breakout.

Also Read: Sensex up 50 points, Nifty holds above 25,950