Category: Corporate

Categories
Corporate

JP Morgan predicts Nifty50 could hit 30,000 by 2026

Global investment bank JP Morgan has raised its target for India’s benchmark Nifty50 to 30,000 by the end of 2026, reflecting optimism about the country’s stock market. The bank expects corporate earnings to grow around 13–14% in 2026–27, supporting higher market valuations.

JP Morgan cites favourable fiscal and monetary policies, strong domestic investment flows, and improving economic fundamentals as key factors for the bullish outlook. Indian equities, while trading at a premium compared with other emerging markets, are now seen as more attractive as the valuation gap narrows.

The bank also notes that sectors such as financials, consumer goods, real estate, power, defence, and materials are likely to benefit most. Potential catalysts include supportive government policies, anticipated rate cuts, and stronger US–India trade ties, all of which could further boost corporate profits and investor sentiment.

With Nifty50 currently around 26,200, the projected rise to 30,000 implies a potential 15–20% gain over the next few years, though investors should expect normal market volatility along the way.

Also Read: Whirlpool shares fall 13% on ₹965 crore stake sale

Categories
Corporate

Whirlpool shares fall 13% on ₹965 crore stake sale

Shares of Whirlpool of India fell sharply after its promoter, Whirlpool Mauritius Limited, announced plans to sell part of its stake. The sale will be around 7.5 % of the company, roughly 95 lakh shares, and could raise about ₹965 crore.

The shares will be offered at a “floor price” of ₹1,030 each, about 14 % lower than the previous closing price of ₹1,201.40. Following this announcement, the stock fell as much as 13 % on the Bombay Stock Exchange, hitting ₹1,041.

The sale comes amid weak recent performance. In the September quarter, Whirlpool of India’s consolidated net profit dropped around 21 % to ₹41 crore, while revenue also fell slightly. Over the past year, the company’s shares have declined about 33 %, underperforming the market.

Analysts say the promoter’s sale is part of a long-term trend of the parent company reducing its stake in India. The money from the sale may help the parent company reduce global debt rather than indicate a full exit from Whirlpool of India.

Also Read: Tesla plans deeper India push with full EV ecosystem

Categories
Corporate

Apple challenges $38 billion India antitrust penalty law

Apple Inc. has filed a petition in the Delhi High Court challenging India’s 2024 amendment to the Competition Act, which allows fines based on a company’s global turnover. The move could expose Apple to a potential penalty of up to $38 billion (around ₹3 lakh crore).

The legal dispute stems from a 2022 antitrust probe by the Competition Commission of India (CCI), which accused Apple of abusing its dominance on the iOS App Store by restricting third-party payment options. Apple denies any wrongdoing and says its Indian market share remains small compared to Android, despite significant user growth.

In a detailed 545-page petition, Apple described the law as “arbitrary, unconstitutional, grossly disproportionate and unjust,” arguing that any fine should be limited to revenue earned in India from the specific business under investigation. The company warned that retroactive application of the law could unfairly penalise past practices.

A hearing is scheduled for 3 December 2025, marking the first major test of India’s revised competition-law penalty system against a global technology company.

Also Read: Tesla plans deeper India push with full EV ecosystem

Categories
Corporate

Tesla plans deeper India push with full EV ecosystem

Tesla is preparing to strengthen its India footprint by developing a full electric-vehicle ecosystem, including chargers, service facilities and customer support centres, to make EV ownership smoother for buyers.

After launching two imported versions of the Model Y earlier this year, the company has delivered just over 100 units so far. Industry sources say Tesla now wants to expand its network before scaling up sales. The plan includes installing home chargers, partnering with malls and hotels for public charging points, and setting up supercharger hubs in major cities.

The company is also looking at improving after-sales services, ensuring that customers have accessible maintenance and support options,  a key concern for EV buyers in India.

Tesla is yet to finalise plans for local manufacturing, but officials say building a strong ecosystem is its immediate priority. The company believes that better infrastructure can encourage more Indians to switch to electric cars, especially in large urban markets.

Tesla’s move comes as India pushes for faster EV adoption to cut pollution and reduce oil dependency. The company expects that a reliable charging network will help build confidence among potential buyers and boost long-term demand for its cars.

Also Read: Asian Paints to invest ₹340 crore in new UAE plant

Categories
Corporate

Asian Paints to invest ₹340 crore in new UAE plant

Asian Paints, India’s largest paint maker, is expanding its presence in the Middle East with a new manufacturing facility in the United Arab Emirates. Its UAE subsidiary, Berger Paints Emirates Ltd, will invest approximately ₹340 crore (AED 140 million) to set up the second plant in Abu Dhabi.

The new factory will be located in the Khalifa Economic Zones Abu Dhabi (KEZAD) and will cover about 100,000 square metres. It is expected to have an initial production capacity of 55,800 kilolitres per year, enabling the company to meet growing demand in the region efficiently.

This investment comes as part of Asian Paints’ broader strategy to strengthen its international footprint and enhance supply chain capabilities. By increasing manufacturing capacity in the UAE, the company aims to serve both local and regional markets better while reducing reliance on imports.

The move also reflects Asian Paints’ focus on catering to the Middle East’s expanding construction and real estate sector, which is driving demand for decorative and industrial paints. Analysts believe that this expansion will help the company consolidate its market share in the region and support long-term growth.

The UAE plant is expected to be operational within the next few years and will complement Asian Paints’ existing overseas operations, ensuring smoother logistics and faster delivery for customers. This step underscores the company’s commitment to global growth while maintaining a strong regional presence in high-demand markets.

Also Read: India’s $5 trillion goal delayed, growth strong

Categories
Corporate

Deloitte report in Canada faces AI citation controversy

Deloitte, the global consulting firm, is under scrutiny after a $1.6 million healthcare report it prepared for the Newfoundland and Labrador government was found to contain questionable references.

The 526-page Health Human Resources Plan, released in May 2025, was meant to guide government policy on healthcare staffing, virtual care, retention, and the pandemic’s impact on workers.

Investigations revealed multiple citations that appear to be fabricated, including references to academic papers that don’t exist. Some real researchers were incorrectly credited, and in some cases, fictitious co-authors were listed. One researcher, Gail Tomblin Murphy, called the mention of her work “false” and possibly AI-generated.

The provincial Department of Health has asked Deloitte to review and confirm all citations. Deloitte responded that while some citation corrections are needed, the overall recommendations and conclusions remain valid.

This is not the first time Deloitte has faced such issues. Earlier reports for other governments were also found to have fabricated references, raising concerns about relying on AI for research without proper human checks.

Also Read: Ravelcare SME IPO ₹24 crore, shares ₹123–₹130

Categories
Corporate

Ravelcare SME IPO ₹24 crore, shares ₹123–₹130

Ravelcare, a personal-care and beauty brand, will open its SME IPO on December 1, closing on December 3, 2025. The company aims to raise around ₹24.10 crore by issuing 18.54 lakh shares at a price band of ₹123–₹130 per share.

About ₹11.5 crore will go into advertising and marketing, while ₹7.8 crore will fund a new manufacturing facility in Amravati. The rest will support general business needs.

Founded in 2018, Ravelcare sells haircare, skincare, and body-care products online. For FY25, revenue was ₹24.98 crore with ₹5.25 crore profit. The IPO proceeds will fund growth, not payouts to existing shareholders.

Also Read: India approves ₹7,280 cr plan to make rare-earth magnets

Categories
Corporate

Sensex tops 86,000, Nifty crosses 26,300

Indian equity markets extended their upward momentum on Thursday, with benchmark indices closing higher for a second straight day on the back of broad-based buying and firm global cues. The Sensex climbed nearly 600 points, while the Nifty added close to 180 points, supported by strength in defensives, technology majors and key manufacturing plays. Overall, 32 of the 50 Nifty constituents ended in the green, signalling renewed risk appetite among investors.

The trading session was defined by steady accumulation across most sectors, even as certain pockets saw mild profit-taking. Defensives such as pharmaceuticals and FMCG maintained a constructive undertone, aided by stable earnings visibility. Technology stocks, buoyed by expectations of improved global demand and easing macro pressures, also contributed meaningfully to the indices’ gains. Manufacturing-linked counters, including select capital goods and industrial suppliers, continued to benefit from strong order flows and domestic capex momentum.

However, sentiment was slightly softer in energy, consumer durables and public-sector banking. These groups witnessed brief phases of consolidation as investors assessed near-term valuations and awaited fresh economic signals. Analysts noted that this pattern reflected a healthy rotation rather than a weakening of broader market strength.

Stock-specific action remained prominent. While most heavyweights moved higher, a few names bucked the trend. Whirlpool of India, Natco Pharma and Kaynes Technology India emerged as notable losers, slipping due to sectoral moderation and selective profit-booking after recent rallies. Market participants suggested that the declines were more technical than fundamental, with no major negative triggers emerging during the session.

Despite these isolated weaknesses, overall market breadth stayed supportive. Mid-cap and small-cap indices also closed in positive territory, indicating that buying interest was not limited to large caps. With global markets stable and domestic indicators holding firm, investors appeared comfortable taking incremental risk, though some caution remained around external triggers such as commodity price fluctuations and central bank commentary.

Also Read: Sensex up 1,022 pts, Nifty rises 320 pts

Categories
Corporate

Adani Enterprises opens ₹24,930 crore rights issue

Adani Enterprises has launched a massive ₹24,930-crore rights issue, giving existing shareholders the option to buy new shares at a discount. The rights shares are priced at ₹1,800 each, which is cheaper than the current market price, and the offer opened this week. Investors can apply by paying half the amount now and the remaining in two instalments later.

The company’s stock showed slight gains today but has fallen over the past two sessions as the market adjusts to the discounted issue price. Despite this, analysts say the fundraising move will help Adani Enterprises reduce its debt and strengthen its finances.

Brokerage Ventura Securities has given the stock a ‘Buy’ rating, expecting up to 43% upside. The firm has set a target price of ₹3,433, saying that the rights issue will ease pressure on the company’s balance sheet and support its long-term expansion plans.

The funds raised will be used for multiple projects, including airports, data centres, green energy, roads, and other infrastructure businesses. Analysts believe the fresh capital will give the company more stability and improve investor confidence.

Also Read: HDFC AMC shares fall on bonus issue

Categories
Corporate

Sensex up 1,022 pts, Nifty rises 320 pts

Sensex and Nifty closed sharply higher on Wednesday as the markets staged a strong rebound after recent weakness. The Sensex jumped 1,022 points to end at 85,609, while the Nifty rose 320 points to settle at 26,205.

The rally was broad-based, with both mid-cap and small-cap indices gaining around 1.2 percent. All major sectors ended in the green as investors turned upbeat on the back of softer crude-oil prices and renewed hopes of a US Federal Reserve rate cut. Buying was strong in banking, metals, oil & gas, and financial services stocks, helping lift overall sentiment.

Among the top gainers of the day were JSW Steel, HDFC Life, Bajaj Finance, Bajaj Finserv and Jio Financial Services, which saw healthy buying interest throughout the session. On the other hand, Bharti Airtel, Asian Paints and SBI Life ended as the notable losers, slipping slightly despite the broader market rally.

Analysts said the combination of favourable global cues, easing commodity prices and sustained domestic participation helped markets post one of their best sessions in recent weeks. They added that investors will now watch global rate signals, foreign fund flows and crude-oil trends to gauge whether this strong momentum can continue in the coming days.

Also Read: Sensex jumps 600+ points, Nifty crosses 26,050