Category: Corporate

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Corporate

Sensex sees volatile moves, Nifty stays close to 25,300

Markets witnessed a choppy trading session on Friday, with benchmark indices swinging between gains and losses before settling largely flat. The BSE Sensex moved in a narrow range amid mixed cues, while the Nifty 50 managed to stay close to the 25,300 mark, supported by selective buying in metal and energy stocks.

Investor sentiment remained cautious due to continued foreign institutional investor (FII) outflows, even as global markets showed mild stability. Market participants preferred stock-specific positions ahead of key earnings announcements and broader macro cues.

On the gainers’ side, metal stocks led the rally, supported by firm global commodity prices. Shares of JSW Steel, Tata Steel and Hindalco advanced during the session. Select PSU stocks and oil & gas counters, including BPCL and ONGC, also saw buying interest. Defensive stocks in the pharma and FMCG space traded marginally higher, offering limited support to the indices.

However, gains were capped by weakness in banking and IT stocks. Private sector banks, including IndusInd Bank and Bandhan Bank, remained under pressure on concerns over margins and asset quality. IT majors slipped amid muted global tech sentiment and cautious outlook commentary. Aviation stocks, led by InterGlobe Aviation (IndiGo), declined after recent profit concerns and rising operational costs weighed on sentiment.

Mid-cap and small-cap stocks traded mixed, reflecting selective risk appetite. Overall market breadth remained slightly negative, indicating lack of broad-based buying.

Going ahead, analysts expect markets to remain range-bound in the near term, with movements driven by earnings results, global market trends, currency movement and expectations around the Union Budget.

Also Read: Sensex rises 398 points, Nifty crosses 25,300

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Corporate

Sensex rises 398 points, Nifty crosses 25,300

Markets ended Thursday on a strong note, with the Sensex rising 398 points to 85,764 and the Nifty climbing above 25,300. The gains were led by robust domestic earnings and buying in banking and auto sectors.

Major gainers included Bajaj Consumer Care, Hero Motocorp, Samvardhana Motherson, Ashok Leyland, and Exide Industries, reflecting renewed investor interest in cyclical and consumer stocks. PSU banks also contributed to the rally, supported by healthy quarterly results.

On the other hand, stocks like Tata Steel, JSW Steel, KEI Industries, and select IT names faced profit booking, which kept overall market breadth slightly positive but cautious.

Corporate earnings played a key role in sentiment. Bajaj Consumer Care posted an 83% jump in quarterly profit, while Jindal Stainless reported a 26% rise in earnings compared with the year‑ago period. KEI Industries saw strong revenue growth but traded lower, reflecting mixed investor reactions.

In broader markets, Biocon gained after acquiring the remaining stake in Biocon Biologics, while Bank of India shares rose on better asset quality and profit growth.

Sectorally, the auto, banking, and PSU indices were the top performers, each gaining around 1–2%, while metal and IT indices lagged due to profit booking and global cues.

Also Read: Rupee slides 1% to 91.6 per dollar

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Corporate

Andhra to start ArcelorMittal Nippon plant after Feb 15

Andhra Pradesh Chief Minister N. Chandrababu Naidu has announced that the foundation stone for the proposed ArcelorMittal Nippon Steel plant in Anakapalli district will be laid after February 15, 2026. The announcement came during his participation at the World Economic Forum (WEF) in Davos, Switzerland, where he met with ArcelorMittal executives, including Lakshmi N. Mittal, to discuss the project and its progress.

The steel plant is expected to be a major industrial investment, with an estimated outlay of around ₹60,000 crore. It is seen as a key initiative to boost industrial growth, local employment, and infrastructure development in Andhra Pradesh. The project is anticipated to bring significant opportunities for ancillary industries and increase the state’s contribution to the steel sector.

Naidu emphasized that all land acquisition, clearances, and statutory approvals must be completed by February 15 to allow the groundwork to begin without delays. He also assured that the Andhra Pradesh government will extend full support to ensure the plant’s construction and eventual production start smoothly.

The CM’s meetings in Davos highlighted Andhra Pradesh’s ambition to attract global investments beyond the steel sector. He engaged with international business leaders to explore opportunities in tourism, hospitality, and artificial intelligence training for youth, positioning the state as a favorable destination for both industrial and knowledge-based investments.

Officials said the ArcelorMittal Nippon Steel plant is expected to have a multiplier effect on the local economy, providing direct and indirect employment to thousands of people and supporting regional infrastructure projects. The plant’s development aligns with the state government’s strategy to promote large-scale industrialization while fostering innovation and skill development among the youth.

With the foundation stone ceremony scheduled soon, Andhra Pradesh is signaling its commitment to creating a business-friendly environment, completing clearances on time, and collaborating with international investors to accelerate industrial growth. The project is widely regarded as a transformative initiative for the state’s economy and a significant step in attracting global manufacturing investments.

Also Read: CLSA raises Reliance target to ₹1,800, flags Jio upside

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Corporate

Inspira Global to take charge of Burger King India

Inspira Global is set to become the new promoter of Restaurant Brands Asia Ltd. (RBA), the company that operates Burger King outlets in India and Burger King and Popeyes restaurants in Indonesia. The deal comes as private equity firm Everstone Capital exits after more than a decade of backing the business.

Under the agreement announced on 21 January 2026, Inspira will acquire the entire 11.26 percent stake held by QSR Asia Pte. Ltd., Everstone’s investment vehicle, for about ₹460 crore, or ₹70 per share. This price is roughly 10 percent higher than the recent market close.

Beyond this stake purchase, Inspira plans to infuse fresh capital into RBA. This includes a preferential allotment of shares worth around ₹900 crore and warrants of approximately ₹600 crore. The combined transaction may lead to a mandatory open offer to RBA’s public shareholders under SEBI rules, potentially increasing Inspira’s holding and solidifying its control.

The acquisition will be carried out through Lenexis Foodworks Pvt. Ltd., Inspira’s food and beverage arm, which already operates over 250 Chinese Wok outlets across more than 45 cities in India. Existing management at RBA and its brand operations are expected to continue post-acquisition, ensuring business continuity.

Inspira Global describes the deal as a long‑term growth opportunity. With new capital and strategic support, RBA aims to strengthen its footprint in India’s fast‑evolving quick‑service restaurant sector.

Everstone’s exit marks the end of an era that began with launching India’s first Burger King outlet. The transaction highlights ongoing consolidation in the country’s fast-food market as companies reposition to meet rising consumer demand and competitive pressures.

Also Read: Ubisoft restructures, cancels six games

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Corporate

Sensex jumps 300 points, Nifty reclaims 25,250

Indian equity markets staged a strong rebound on Thursday, where BSE Sensex advanced more than 300 points, while the Nifty 50 moved above the 25,250 level, offering relief to investors after recent volatility.

The recovery was driven by improved global sentiment following signs of easing geopolitical tensions and a pullback in trade-related concerns. Asian markets traded higher, tracking overnight gains on Wall Street, which helped lift risk appetite across emerging markets, including India.

On the domestic front, buying interest was seen across sectors, supported by selective corporate earnings and stock-specific triggers. Eternal emerged as one of the top gainers, rising sharply after reporting strong quarterly results. Mahindra & Mahindra and Adani Ports also traded higher, gaining around 2 per cent each on firm demand and positive sector outlook. Energy and aviation stocks, including Waaree Energies and InterGlobe Aviation (IndiGo), also attracted investor interest.

However, gains were capped by weakness in select banking and consumer stocks. ICICI Bank slipped amid profit-booking after recent gains, while retail-focused stock Trent also traded lower. Other defensive names saw mixed movement as investors remained cautious despite the broader rebound.

Market participants described the session as a relief rally following sharp losses earlier in the week, noting that investors continued to remain selective. Analysts said the sustainability of the rebound would depend on continued stability in global markets, progress on corporate earnings and upcoming macroeconomic cues.

Also Read: Deepinder Goyal steps down as Eternal CEO

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Corporate

Adani Group unveils $66 billion Maharashtra plan at WEF

The Adani Group has announced a USD 66 billion investment pipeline for Maharashtra, underscoring its long-term bet on India’s infrastructure-led growth and energy transition. The plan was presented at the 56th World Economic Forum (WEF) annual meeting in Davos, positioning the conglomerate as a strategic partner in the state’s next phase of economic expansion.

The proposed investments, to be deployed over the next seven to ten years, span aviation, urban infrastructure, clean energy, digital platforms and advanced manufacturing. The Group said the portfolio reflects a shift from standalone asset creation to building integrated, future-ready ecosystems aligned with national priorities such as manufacturing self-reliance, sustainability and ease of doing business.

Urban transformation projects form a significant part of the plan. A flagship initiative is the redevelopment of Dharavi, one of India’s most complex urban renewal exercises. The project aims to convert Asia’s largest informal settlement into a planned, economically productive urban district, with modern housing, infrastructure and commercial activity.

Another key growth driver is Navi Mumbai, anchored by the Navi Mumbai International Airport (NMIA). One of India’s largest greenfield airport projects, NMIA commenced operations on December 25 and is expected to significantly expand aviation capacity in the Mumbai metropolitan region. The airport is also seen as a catalyst for allied sectors such as logistics, hospitality, real estate and commercial development.

Beyond transport and urban infrastructure, the investment roadmap includes green, integrated data centre parks with a combined capacity of 3,000 MW, an integrated arena district near the airport, coal gasification facilities, and pumped-storage hydropower projects totalling 8,700 MW. The Group has also proposed semiconductor and display fabrication units, in line with the government’s evolving framework to attract private investment into high-tech manufacturing.

Maharashtra Chief Minister Devendra Fadnavis said the state welcomes all investors who contribute to job creation and economic growth. Pranav Adani, Director of Adani Enterprises, highlighted the scale and sectoral diversity of the planned investments, noting the Group’s increasing focus on scale, integration and sustainability.

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Corporate

Sensex drops 271 points, Nifty slips below 25,200

Indian equity markets closed in the red on Wednesday as cautious investor sentiment and sustained selling pressure weighed on benchmark indices. The BSE Sensex declined by 271 points, while the NSE Nifty50 slipped below the 25,200 level, reflecting weak momentum across large parts of the market.

Trading was volatile throughout the session. The benchmarks opened sharply lower, with the Sensex plunging over 1,000 points at one stage and the Nifty briefly falling below the 25,000 mark. Some recovery was seen later in the day as bargain hunting emerged at lower levels, helping indices pare losses, but the rebound lacked strength and markets eventually ended lower.

Despite the overall weakness, a few stocks managed to buck the trend. Eternal Ltd, InterGlobe Aviation, and UltraTech Cement were among the top gainers, supported by stock-specific buying and defensive interest. Power Grid Corporation and HDFC Life Insurance also closed higher, offering limited support to the benchmarks amid widespread selling.

On the flip side, heavyweights dragged the indices down. ICICI Bank emerged as a key loser, reflecting pressure in banking stocks. Trent Ltd and Bharat Electronics Ltd also declined, contributing to losses in the consumer and defence segments. Broader selling was visible across financials, industrials, and select technology stocks, keeping market sentiment subdued.

Global cues remained weak, adding to domestic concerns. Persistent foreign institutional investor (FII) outflows continued to weigh on equities, while a weaker rupee against the US dollar further dampened sentiment. Asian markets also traded lower, reinforcing the cautious tone on Dalal Street.

Sectorally, most indices ended in negative territory, with banking and capital goods underperforming. Defensive and infrastructure-linked stocks showed relative resilience, but this was not enough to offset broader losses. Mid-cap and small-cap stocks also faced pressure, underlining risk aversion among investors.

Market experts said volatility is likely to continue in the near term amid global uncertainties and ongoing earnings-related developments. Investors are advised to remain cautious, focus on fundamentally strong stocks, and avoid aggressive positions until clearer signals emerge.

Also Read: India exports first guided Pinaka rockets abroad

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Corporate

SEBI clears PhonePe IPO plan

Digital payments major PhonePe has taken a key step towards going public after receiving approval from the Securities and Exchange Board of India (SEBI) for its proposed initial public offering (IPO). The regulatory clearance clears the way for the Walmart-backed company to file an updated Draft Red Herring Prospectus (DRHP) in the coming weeks.

PhonePe had earlier submitted its IPO papers to SEBI through the confidential filing route, which allows companies to fine-tune their plans away from public scrutiny. With SEBI’s go-ahead now in place, the company is preparing to move to the next stage of the listing process.

According to people familiar with the matter, PhonePe’s IPO is expected to be structured largely as an Offer For Sale (OFS). This means existing shareholders, including its parent company Walmart and other early investors, are likely to sell part of their holdings. The proceeds from the issue would primarily go to these shareholders rather than into the company’s balance sheet.

Market estimates suggest the IPO could raise around ₹12,000 crore, potentially valuing PhonePe at close to $15 billion, higher than its previous private funding valuation. The final size and timing of the issue, however, will depend on market conditions and investor appetite.

The SEBI approval comes at a time when investor interest in profitable and large-scale digital businesses is gradually returning. A successful PhonePe listing could become one of the biggest fintech IPOs in India and may encourage other consumer internet companies to tap the public markets.

Founded in 2015, PhonePe has grown into one of India’s most widely used digital payments platforms. It is a market leader in UPI transactions, accounting for a large share of daily digital payments across the country. Beyond payments, the company has expanded into insurance distribution, mutual funds, lending, and wealth management, positioning itself as a broad financial services platform.

While no official listing date has been announced, industry watchers expect PhonePe to target a market debut later this year, subject to regulatory filings and stable market conditions.

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IKEA to invest $2.2 billion more in India

Swedish home furnishings major IKEA has announced plans to more than double its investment in India, committing around $2.2 billion (₹20,000 crore) over the next five years as it sharpens its focus on one of its fastest-growing markets.

The company, which entered India in 2018 with its first store in Hyderabad, currently operates six stores across cities such as Mumbai, Bengaluru and Hyderabad. As part of its expansion strategy, IKEA plans to open up to 30 stores in the country in the coming years, significantly increasing its physical retail presence.

IKEA India CEO Patrik Antoni said India is expected to become a key growth driver for the group globally. While India still contributes a small share to IKEA’s overall revenues, rising urbanisation, a growing middle class and increasing demand for affordable home solutions make the market attractive in the long term.

Alongside store expansion, IKEA is placing strong emphasis on e-commerce. In a first for the company globally, IKEA plans to launch online sales in some Indian cities before opening physical stores. This approach will allow the brand to reach customers in cities where it does not yet have stores, including places like Chennai and Coimbatore.

IKEA’s India sales grew by about 6 per cent in the year ended August 2025, touching nearly ₹1,861 crore. The company aims to quadruple its India revenues as investments in stores, logistics and digital platforms begin to show results.

The new investment will also support IKEA’s sourcing operations. India is already an important supplier for the group, and IKEA plans to increase its exports from India to around €800 million in the coming years. This move will strengthen India’s role as a global manufacturing and sourcing hub for the company.

IKEA’s expansion plans reflect a broader trend of multinational companies deepening their presence in India by combining physical retail, digital platforms and local manufacturing. For IKEA, the renewed investment underlines its long-term confidence in the Indian consumer and the country’s growth story.

Also Read: Adani Power’s Vidarbha takeover gets final nod

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Adani Power’s Vidarbha takeover gets final nod

Adani Power has overcome a significant legal challenge in its bid to acquire Vidarbha Industries Power Ltd (VIPL) for ₹4,000 crore. The National Company Law Appellate Tribunal (NCLAT) has upheld the company’s resolution plan under the Insolvency and Bankruptcy Code (IBC), dismissing appeals from Western Coalfields Ltd., a key coal supplier and a group of employees. This decision affirms the earlier approval by the National Company Law Tribunal (NCLT), providing final clarity to the long-pending takeover of the 600 MW Vidarbha power project.

The disputes centered on creditor treatment and procedural compliance. Western Coalfields, an operational creditor claiming around ₹500 crore, argued that Adani Power’s plan violated IBC timelines for debt resolution. Meanwhile, employees raised concerns over inadequate payouts, receiving only ₹1 crore collectively against claims exceeding ₹550 crore. They contended that the plan unfairly prioritized secured creditors, leaving operational dues undervalued.

NCLAT rejected these claims, ruling that the Committee of Creditors (CoC) had approved the plan well within legal deadlines. The tribunal noted that Adani Power’s subsequent modifications to operational debt handling were permissible, as they neither reduced creditor recoveries nor prejudiced any party. On employee dues, NCLAT clarified that asset values could not fully cover all claims post-secured creditor payments, a common outcome in insolvency cases. Crucially, statutory obligations like provident fund and gratuity contributions remain fully protected and must be disbursed in full, safeguarding worker interests.

This ruling marks a pivotal moment for Adani Power’s expansion strategy in the power sector. The acquisition bolsters its capacity amid India’s growing energy demands, aligning with the group’s aggressive growth in renewables and thermal assets. Market analysts view the verdict as a strong endorsement of the IBC framework, which has resolved over stressed assets since 2016. By balancing swift corporate rescues with creditor rights and employee protections, it signals judicial confidence in India’s bankruptcy regime.

For the broader economy, the decision underscores the maturing insolvency ecosystem. It demonstrates how tribunals can navigate complex stakeholder conflicts, encouraging more strategic investments in turnaround opportunities. Adani Power shares rose marginally post-ruling, reflecting investor optimism. As the company integrates VIPL, focus shifts to operational synergies and long-term value creation in a competitive power landscape.

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