Category: Corporate

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Corporate

HCLTech secures $1.14 bn AI transformation deal

HCLTech has signed a $1.14 billion (around ₹9,500 crore) artificial intelligence-led digital transformation deal with a Europe-based Fortune Global 50 company, marking one of the largest contracts in the company’s history and reinforcing its growing presence in the global AI services market.

The multi-year agreement will see HCLTech deliver advanced AI-powered solutions and digital transformation services to its client. While the company has not disclosed the customer’s identity because of confidentiality agreements, it said the partnership highlights increasing demand for large-scale AI adoption among global enterprises.

The announcement was well received by investors, sending HCLTech shares up nearly 6% in Friday’s trade. The stock emerged as one of the top gainers on the Sensex as market participants welcomed the deal, viewing it as a strong endorsement of the company’s artificial intelligence capabilities and long-term growth prospects.

The contract is expected to strengthen HCLTech’s revenue pipeline at a time when global technology companies are witnessing rising demand for AI-driven automation, cloud computing and data modernisation services. Businesses worldwide are increasingly investing in artificial intelligence to improve efficiency, reduce operational costs and enhance customer experience.

The announcement comes as Indian IT firms continue to adapt to changing market conditions. Although discretionary spending has remained under pressure in some sectors, demand for AI solutions has opened fresh opportunities for technology companies with strong digital capabilities.

HCLTech has been steadily expanding its AI portfolio through investments in generative AI, automation platforms and strategic partnerships. The latest contract further strengthens its position in the competitive global IT services industry, where companies are racing to secure large AI-focused transformation projects.

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Sensex soars 500 points, Nifty crosses 24,300 mark

Markets opened on a strong note on Friday, with benchmark indices extending their gains for a third straight session as buying in information technology stocks and positive global cues lifted investor sentiment. The BSE Sensex surged over 500 points in early trade, while the NSE Nifty climbed above the 24,300 mark, reflecting optimism across sectors.

IT stocks led the rally, with HCLTech emerging as the top gainer after attracting strong investor interest. Tech Mahindra, Tata Steel, Tata Consultancy Services (TCS) and Infosys also posted healthy gains, helping push the benchmark indices higher. Buying was also seen in select banking and financial stocks, adding strength to the market’s upward momentum.

Among the laggards, Adani Ports, NTPC, Mahindra & Mahindra, State Bank of India and Kotak Mahindra Bank traded lower in early deals. However, losses in these stocks were outweighed by gains in heavyweight technology shares, keeping the overall market firmly in the green.

The rally was supported by positive global developments. Softer-than-expected US jobs data fuelled hopes that the US Federal Reserve may hold off on further interest rate hikes, improving the outlook for emerging markets. Lower crude oil prices also boosted sentiment, as easing energy costs are seen as favourable for India’s economy and corporate profitability.

Investors were further encouraged by continued buying from domestic institutional investors, which has helped cushion the impact of foreign fund outflows in recent sessions.

Also Read: IndiGo launches lite fare

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Sensex rallies 580 points, Nifty crosses 24,150

Indian benchmark indices ended higher on Thursday, extending their winning streak as strong buying in information technology stocks and easing crude oil prices lifted investor sentiment. The Sensex climbed nearly 580 points, while the Nifty 50 closed above the 24,150 mark after a positive trading session.

Technology stocks led the rally, with HCL Technologies, Infosys and Tech Mahindra emerging among the top gainers. Gains in heavyweight stocks such as Reliance Industries and Mahindra & Mahindra also supported the benchmarks, helping markets maintain momentum throughout the day.

On the other hand, Trent, Bharat Electronics (BEL) and Canara Bank were among the major losers, limiting the day’s gains as investors booked profits in select counters.

Broader markets also witnessed healthy buying, with the mid-cap and small-cap indices ending in positive territory. Most sectoral indices closed in the green, led by IT, auto and consumer stocks, while PSU banks remained under pressure.

Investor confidence received an additional boost from softer global crude oil prices. Lower oil prices are seen as positive for India as they help reduce inflationary pressures, improve corporate profitability and support economic growth.

Despite the upbeat equity markets, the rupee ended slightly weaker against the US dollar after giving up its early gains.

Also Read: Sony’s PlayStation goes all digital

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Wipro ADRs fall 17% on AI headwinds

Wipro is expected to remain in focus after its American Depositary Receipts (ADRs) plunged sharply in overnight trading, reflecting growing investor concerns over the company’s near-term growth prospects and mounting pressure from artificial intelligence-led changes in the IT services industry.

The ADRs fell by more than 17%, signalling a weak start for the stock on Indian exchanges. The sharp decline followed cautious management commentary on demand trends and concerns that rapid adoption of AI could intensify pricing pressure across the technology services sector.

Analysts said enterprises are increasingly seeking AI-driven solutions that improve efficiency while reducing costs. While this presents new business opportunities, it also puts pressure on IT companies to deliver services at lower prices, affecting revenue growth and profit margins.

The weak sentiment around Wipro has also shifted investor attention to other major IT companies, including Infosys, TCS and KPIT Technologies, with markets closely watching their upcoming earnings and management outlooks for signs of broader industry trends.

Market experts believe the current environment remains challenging for the information technology sector. Although demand for digital transformation, cloud computing and AI services continues to grow, clients are still cautious about discretionary technology spending amid global economic uncertainty.

Companies that successfully integrate AI into their service offerings without sacrificing profitability are expected to remain better positioned.

Also Read: Amazon faces Australia lawsuit over Prime video

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Amazon faces Australia lawsuit over Prime video

Australia’s consumer watchdog has filed legal proceedings against Amazon, alleging that changes to its Prime Video subscription service misled customers and forced them to pay extra to continue watching content without advertisements.

The Australian Competition and Consumer Commission (ACCC) claims Amazon introduced advertisements on Prime Video for existing subscribers without adequately informing them that ad-free viewing would now require an additional payment. According to the regulator, customers who had originally signed up expecting uninterrupted streaming were left with two choices, accept advertisements or pay an extra fee to remove them.

The ACCC argues that the changes may have breached Australian consumer laws by altering the terms of the subscription after customers had already signed up. It alleges that Amazon’s approach created unfair contract terms and potentially misled consumers about the benefits included in their existing Prime memberships.

The regulator has approached the Federal Court, seeking penalties, declarations and other orders against Amazon. It also wants the court to ensure that affected consumers receive appropriate remedies if the company is found to have violated consumer protection laws.

Amazon has defended the move, saying it remains committed to complying with local laws and providing value to customers. The company is expected to respond to the allegations through the legal process.

The case centres on Amazon’s decision to introduce advertisements on Prime Video while offering an optional premium tier for ad-free streaming at an additional cost. Similar changes have been rolled out in several countries as streaming platforms look for new revenue sources amid rising content and production costs.

Also Read: SEBI bars 221 entities in ₹144-cr stock scam

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SEBI bars 221 entities in ₹144-cr stock scam

The Securities and Exchange Board of India (SEBI) has barred 221 entities from accessing the securities market after uncovering an alleged ₹144-crore pump-and-dump scam involving five listed companies. The action marks one of the regulator’s biggest crackdowns on organised stock price manipulation in recent years.

According to SEBI, the accused artificially inflated the prices of select low-liquidity stocks through coordinated trading before offloading their holdings at elevated prices. Retail investors were allegedly lured into buying these shares after misleading messages and promotional campaigns created the impression of strong investment opportunities.

The investigation revealed a well-planned network that used digital communication platforms, including WhatsApp groups, to coordinate trading activity and spread stock recommendations. SEBI also relied on financial records, call details, bank transactions and even food delivery records to establish links among the individuals involved in the operation.

The regulator found that the alleged scheme generated unlawful gains of around ₹144 crore. It has directed the accused entities to return the illegal profits while prohibiting them from buying, selling or dealing in securities until further orders.

SEBI also imposed a ₹10-crore penalty on Hanif Shekh, identified as one of the key individuals behind the alleged operation. Investigators said he played a central role in coordinating the manipulation and managing the network involved in the scheme.

The market watchdog said the case demonstrates the increasing sophistication of stock manipulation techniques and highlights its growing use of technology and digital evidence to detect financial misconduct. By analysing electronic communications and transactional data, investigators were able to reconstruct the alleged conspiracy and identify the participants.

Also Read: Disney invests ₹123 cr more in JioStar India

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Corporate

Disney invests ₹123 cr more in JioStar India

The Walt Disney Company has infused ₹123 crore into JioStar India, reinforcing its commitment to the country’s rapidly growing media and entertainment sector following the merger of its Indian business with Reliance-backed Viacom18.

The fresh investment has been made through foreign direct investment (FDI) and is aimed at strengthening JioStar’s financial position as the newly merged entity continues integrating its operations. The capital infusion reflects Disney’s continued confidence in the joint venture and its long-term prospects in one of the world’s fastest-growing entertainment markets.

JioStar was created after the merger of Disney Star India and Viacom18, bringing together a vast portfolio of television channels, digital streaming platforms and sports broadcasting rights under a single entity. The merger has created one of India’s largest media companies, with a significant presence across television, digital entertainment and live sports.

The merged entity is also expected to focus on expanding its content library, enhancing user experience and leveraging advanced technology to attract a wider audience. Analysts say India’s growing internet penetration and rising demand for digital entertainment continue to make the market attractive for global media companies.

Disney’s latest capital infusion comes at a time when the Indian media industry is undergoing rapid transformation, driven by increasing digital consumption, regional content demand and changing viewer preferences. The investment highlights the company’s confidence that the merged business can unlock greater value through scale and operational efficiencies.

Market experts believe the partnership between Disney and Reliance has the potential to reshape India’s entertainment landscape by combining strong content capabilities with extensive distribution networks. The additional funding is expected to provide the financial flexibility needed to pursue future growth opportunities.

Also Read: Zee approves ₹3,144-cr promoter fundraise

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Zee approves ₹3,144-cr promoter fundraise

Zee Entertainment Enterprises Ltd. (ZEEL) has approved a ₹3,144-crore fundraise through the preferential issue of fully convertible warrants to a promoter group entity, marking a significant step to strengthen promoter ownership and reinforce confidence in the company’s future.

The board has cleared the allotment of warrants to Altilis Technologies Pvt. Ltd., a promoter group company. Once the warrants are converted into equity shares, the promoter family’s stake in Zee is expected to increase from around 4 per cent to nearly 24 per cent, subject to shareholder and regulatory approvals.

The proposed investment will be made in phases, with an upfront payment required at the time of the warrant allotment and the remaining amount to be infused when the warrants are converted into equity within the prescribed timeline.

The move comes at a crucial time for Zee, which has been focusing on rebuilding investor confidence and strengthening its financial position following the collapse of its proposed merger with Sony. The increased promoter holding is expected to provide greater stability to the company’s ownership structure while demonstrating the promoters’ long-term commitment to the media and entertainment business.

Company officials said the fresh capital would support Zee’s strategic priorities, including investment in content, digital platforms, technology and future growth opportunities. Strengthening the balance sheet is also expected to improve the company’s ability to compete in the rapidly evolving media landscape.

The proposal is subject to approval from shareholders and other statutory authorities before the warrants can be issued and eventually converted into equity shares. Once completed, the transaction will significantly increase the promoter group’s ownership while providing the company with substantial fresh funds.

Also Read: SEBI bars 221 entities in ₹144-cr stock scam

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Corporate

Sensex gains over 250 points, Nifty tops 24,150

The market traded higher on Thursday, with the Sensex rising over 250 points and the Nifty crossing the 24,150 mark, supported by buying in information technology and banking stocks amid positive global cues and softer crude oil prices.

 

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Sensex rises 444 Points, Nifty crosses 24,000

Markets ended higher on Wednesday, with the Sensex rising 444 points and the Nifty closing above the 24,000 mark, supported by strong buying in banking and auto stocks despite mixed global cues.

The BSE Sensex settled at a higher level after a volatile session, while the Nifty 50 managed to reclaim and hold above 24,000, reflecting steady investor confidence in select heavyweights. Market sentiment was largely driven by sector-specific movements, with banking and automobile shares leading the gains.

Among the top gainers, Kotak Mahindra Bank and Tata Motors stood out, attracting strong buying interest through the session. Financial stocks saw renewed momentum on expectations of stable credit growth, while auto stocks gained on optimism around demand and healthy sales trends.

Other supporting stocks included select IT and pharma counters, which helped lift the broader indices. Positive movement in these sectors helped offset weakness in metals and select energy stocks.

On the losing side, metal stocks remained under pressure, tracking weak global cues and concerns over demand outlook. Profit booking was also seen in some commodity-linked counters, which capped broader market gains during intraday trade.

Broader markets showed mixed performance, with mid-cap and small-cap indices moving in a narrow range as investors awaited further global and domestic triggers. Analysts said caution persisted due to volatility in crude oil prices and ongoing geopolitical uncertainties.

Global factors, including movements in US markets and oil price fluctuations, continued to influence investor sentiment. However, domestic fundamentals such as steady corporate earnings and sustained institutional inflows provided underlying support to the market.

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