Category: Corporate

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Corporate

Sensex falls 500 points to 81,950, Nifty slips below 25,350

The stock markets opened with a dip as the BSE Sensex dropped 505 points to close at 81,950, while the Nifty 50 fell below 25,350, testing key support levels.

Selling pressure was broad-based, with metals, energy, banking, and auto sectors seeing significant declines. Among top losers were Reliance Industries, Tata Steel, and ICICI Bank, while Bajaj Finance, HDFC Bank, and Nestle India were notable gainers, providing limited support to the indices.

Global markets weighed on sentiment as Wall Street ended lower overnight, dragged down by technology stocks. Asian peers also traded cautiously, reflecting investor caution ahead of key economic data. Futures in GIFT Nifty indicated a weaker start for the domestic session.

Market participants noted that foreign institutional investors (FIIs) continued to be net sellers, adding pressure to benchmark indices. The Indian rupee opened slightly weaker against the U.S. dollar, further influencing trading sentiment.

Domestically, investors also focused on corporate earnings and stock-specific developments. Shares of Indian Oil Corporation, Bharti Airtel, and Bharat Petroleum were in focus due to quarterly results and block deals.

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Corporate

Volatile session keeps Sensex, Nifty range-bound

Equity markets ended nearly unchanged on Thursday where the BSE Sensex slipped marginally by about 27 points to close near 82,248, while the Nifty 50 added around 14 points to settle close to 25,496.

Markets opened on a strong note, tracking firm global cues. Asian markets traded higher and Wall Street posted gains overnight, which supported early buying interest. The Nifty briefly moved above the 25,500 mark in morning trade. However, profit booking at higher levels erased most gains as investors turned cautious in the absence of fresh domestic triggers.

Sectorally, public sector banks led the gains. Shares of State Bank of India advanced after positive brokerage commentary on liquidity and earnings outlook. The pharmaceutical index also rose over 1 percent as investors rotated toward defensive sectors amid global uncertainties.

On the downside, HDFC Bank declined nearly 1 percent, emerging as the biggest drag on the benchmarks due to its heavy weightage in both indices. The IT pack saw intraday buying following global tech strength but trimmed gains toward the close.

Broader markets showed resilience. Mid-cap stocks outperformed, while small-cap indices ended largely flat, indicating selective buying interest beyond frontline stocks.

Among individual stocks, Shaily Engineering gained after securing a ₹423-crore order, boosting investor sentiment. In contrast, Sanofi India declined following weaker quarterly earnings. Edtech player PhysicsWallah remained under pressure, trading below its IPO price after recent volatility.

In commodities, gold prices stayed firm near record levels on the Multi Commodity Exchange, supported by safe-haven demand. Silver saw mild profit booking after recent gains.

Also Read: Japan plans missile deployment near Taiwan

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Corporate

₹3,700-cr Anil Ambani home seized in money-laundering case

Reliance Group chairman Anil Ambani appeared before the Enforcement Directorate in New Delhi on Thursday for fresh questioning in an ongoing money-laundering investigation linked to Reliance Communications.

The development comes a day after the agency provisionally attached his 17-storey luxury home, Abode, in Mumbai’s Pali Hill locality, valued at around ₹3,716 crore. The property has been frozen under the Prevention of Money Laundering Act, which allows authorities to bar the sale or transfer of assets suspected to be connected to illegal funds.

This is Ambani’s second round of questioning in the case. His statement had previously been recorded in August last year, and officials said the latest summons is part of efforts to gather more details about financial transactions and the structure of group companies.

The ED is examining loans taken by Reliance Communications and its associated firms from Indian and overseas banks. The total outstanding dues are estimated to be more than ₹40,000 crore. Investigators are trying to determine whether a portion of these funds was diverted or routed through different entities in violation of financial regulations.

The attachment of the Pali Hill residence is part of a wider crackdown. A smaller portion of the same property had been attached earlier, and the latest order significantly raises the value of assets brought under the probe.

The high-rise residence is considered one of the costliest private homes in the country and is reported to be linked to a private family trust — a structure that is also under the scanner.

Once among the world’s richest business leaders, Ambani has seen several of his flagship companies face insolvency proceedings over the past decade, particularly in the telecom sector.

Also Read: Dr Reddy’s eyes March launch of low-cost Ozempic copy

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Corporate

Dr Reddy’s eyes March launch of low-cost Ozempic copy

Dr Reddy’s Laboratories is preparing to roll out a more affordable version of semaglutide in India as early as March, aiming to bring down the cost of one of the world’s most talked-about diabetes and weight-loss treatments.

The Hyderabad-based drugmaker has applied for the trademark “Obeda,” a name widely seen as the likely brand for its generic rival to Ozempic. The timing is significant. Semaglutide’s patent in India expires in March, opening the door for local pharmaceutical companies to launch cheaper alternatives for the first time.

If priced aggressively, the new injection could cost up to 60% less than the original product. That would make the therapy accessible to far more patients in a country that has one of the world’s largest diabetes populations and a rapidly growing obesity burden.

People familiar with the company’s plans say Dr Reddy’s is gearing up for a day-one launch and has already built manufacturing capacity. The company is targeting sales of millions of pre-filled pens in the first year itself, signalling how big the opportunity could be.

So far, semaglutide has remained out of reach for most Indian patients because of its high price and limited availability. A lower-cost version could change that almost overnight, not just for diabetes care but also for weight management, where demand has surged globally.

The launch will also intensify competition in India’s fast-growing market for metabolic drugs. Danish drugmaker Novo Nordisk, which pioneered semaglutide, and US-based Eli Lilly, whose Mounjaro has already gained strong traction, are both expanding their presence in the country.

Also Read: Users report fraud after Yes Bank’s BookMyForex breach

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Corporate

Users report fraud after Yes Bank’s BookMyForex breach

A major data breach at BookMyForex has left many customers dealing with unauthorised transactions on their prepaid forex cards, raising fresh concerns over the safety of digital payment systems.

Several users reported that money was deducted in foreign currencies from their cards for purchases made in countries they had never visited. In most cases, the cards were still with the customers, indicating that their details had been compromised rather than physically stolen.

The forex cards were issued in partnership with Yes Bank, which has now blocked the affected cards to prevent further misuse. The bank has asked customers to immediately report any suspicious transactions and has started processing chargeback requests for the disputed amounts.

BookMyForex said the breach appears to be linked to a third-party system and not its main platform. The company has begun informing impacted users and is working with the bank and payment network providers to investigate the issue and strengthen security.

Many customers, however, said they received alerts only after the fraudulent transactions had taken place. Some also claimed the cards were used internationally even though overseas usage had been disabled, pointing to possible gaps in safeguards.

Such fraud usually happens when card details , such as the number, expiry date or CVV, are leaked or accessed through vulnerable systems. They advise users to switch off international usage when not required, set spending limits and check statements regularly.

The incident has highlighted the growing risks in the fast-expanding fintech and travel card segment, which is widely used by students and international travellers.

Both BookMyForex and Yes Bank have assured customers that eligible losses will be compensated after verification and said steps are being taken to prevent a repeat of the breach.

Also Read: NSE IX opens global investing route for Indians

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Corporate

Sensex rises 200 points , Nifty at 25,550

On  Thursday, the BSE Sensex touched 82,440 at the start of trade, while the NSE Nifty 50 opened around 25,552, slightly higher than Wednesday’s close of 25,482. Early trading was supported by GIFT Nifty futures, which signaled firm demand, and by gains in Asian markets following strong performances from US tech stocks.

Among the early movers, Bajaj Auto, HCL Technologies, Tata Steel, Shriram Finance, and TCS saw buying interest, helping lift the market. At the same time, heavyweight counters such as Reliance Industries, State Bank of India (SBI), and Adani Ports faced mild selling pressure, which kept the overall gains in check.

Sector-wise, metals, autos, and IT led the upside, while financials and energy stocks lagged. Traders noted that volatility remained, especially among large-cap stocks, as participants weighed domestic economic cues against global developments.

Analysts said the market remained range-bound, with selective buying supporting the rally but broader participation cautious. They emphasized that the direction in the coming sessions will depend on global trends, domestic macroeconomic data, and sector-specific movements.

Also Read: Tata Sons puts off Chandrasekaran reappointment call

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Corporate

Sensex at 82,405, Nifty near 25,510, markets trim early gains

Equity benchmarks pared early gains on Wednesday as the BSE Sensex was trading around 82,405, nearly 700 points below its intra-day high. The Nifty 50 hovered near 25,510, slipping from levels above 25,600 touched earlier in the session.

Markets opened higher, supported by buying in information technology and banking stocks. Among the key gainers were Infosys, Tata Consultancy Services, Tech Mahindra and HCL Technologies, which rose up to 2–3% during the day. Private banking shares also contributed to the early rally.

However, gains were capped as selling pressure emerged in select auto and mid-cap counters. Analysts said profit booking after recent gains and cautious global cues weighed on sentiment. Foreign institutional investors were also seen trimming positions, adding to volatility.

Traders are watching the 25,400–25,600 range on the Nifty as a key near-term zone. Despite the pullback from day’s highs, broader market breadth remained relatively stable.

Also Read: Sensex rises 560 points to 88,200, Nifty climbs to 25,580

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Corporate

Meta–AMD seal AI chip deal

Meta has signed a major long-term agreement with semiconductor firm AMD to supply advanced artificial intelligence (AI) chips for its growing data-centre operations, marking a significant shift in the social media giant’s hardware strategy. The deal is expected to reduce Meta’s heavy dependence on Nvidia, currently the dominant supplier of AI processors.

Under the partnership, AMD will provide its latest AI accelerators and supporting infrastructure, which will be used to train and run large-scale AI models across Meta’s platforms, including Facebook, Instagram and WhatsApp. The move comes as the company rapidly expands its AI capabilities for content recommendations, advertising, generative AI tools and its metaverse projects.

Meta has been investing billions of dollars in AI infrastructure, and chip costs have become one of its biggest expenses. By diversifying its suppliers, the company aims to improve efficiency and gain stronger bargaining power in a market where demand for high-performance AI hardware has surged.

For AMD, the agreement represents a major opportunity to challenge Nvidia’s dominance in the fast-growing AI chip sector. The company has been positioning its latest processors as a competitive alternative, focusing on performance, energy efficiency and open software ecosystems that allow customers greater flexibility.

The announcement comes at a time when investors are closely watching whether the massive spending on AI infrastructure will translate into long-term revenue growth.

The deal is expected to roll out over several years, with AMD’s chips gradually integrated into Meta’s global data-centre network. Both companies said the partnership would help accelerate innovation and support the next generation of AI-driven services.

Also Read: Paramount enters Warner Bros. deal race against Netflix

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Corporate

Canva buys two startups to boost AI, animation

Design platform Canva has bought animation specialist Cavalry and AI advertising startup MangoAI to deepen its presence in advanced content creation and marketing technology.

Cavalry is known for its 2D motion design software used in advertising, gaming and digital media. Its tools will be integrated into Canva’s professional design suite, Affinity, allowing users to produce high-end animations alongside photo editing, vector graphics and layout work without switching platforms. The move is expected to simplify workflows for designers and creative teams.

MangoAI, which focuses on improving video advertising using reinforcement learning and performance data, will help Canva strengthen its marketing capabilities. Its technology enables brands to create ads, analyse results and automatically improve future campaigns. MangoAI co-founder Nirmal Govind, a former executive at Netflix, will join Canva as its first Chief Algorithms Officer to lead AI-driven personalisation and optimisation efforts.

These deals add to Canva’s earlier investments in marketing tools and reflect its broader goal of becoming a single platform where users can design, publish and measure content performance. By combining creative production with real-time analytics, the company aims to help businesses produce campaigns faster, cut costs and gain clearer insights into what works.

The acquisitions also support Canva’s push into the professional design market, where demand for motion graphics and video content is growing rapidly. As digital advertising becomes more video-focused, brands are looking for tools that can handle both creative development and performance tracking in one place.

With hundreds of millions of users and billions of AI-generated designs already created on its platform, Canva is moving beyond its image as a simple design tool.

Also Read: Berkshire Hathaway VC buys ₹85-cr apartment in Gurugram

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Paramount enters Warner Bros. deal race against Netflix

Warner Bros. Discovery has agreed to evaluate a fresh takeover proposal from Paramount, intensifying its ongoing deal process with Netflix and setting up a major contest in the global entertainment sector.

Warner had earlier moved ahead with a deal involving Netflix, but the new and improved offer from Paramount has forced the company to reconsider its options. The board will now examine whether the revised proposal delivers greater value to shareholders.

Paramount’s bid is seen as an attempt to take control of the entire company, while the Netflix agreement is focused mainly on Warner’s studio and streaming assets, including HBO. By making a stronger financial offer and adjusting its terms, Paramount is trying to position itself as the more attractive partner.

The development is significant for the media and streaming industry because Warner owns some of the world’s most valuable film, television and digital content businesses. Any change in ownership could alter the balance of power among major entertainment companies.

If the Netflix deal goes through, it would strengthen the streaming giant by adding a massive content library and well-known franchises to its platform. On the other hand, a merger between Paramount and Warner would create a much larger traditional media and streaming player capable of competing more aggressively on a global scale.

The possible transactions are also likely to face close scrutiny from regulators concerned about competition and market concentration. Industry groups and creative communities are watching the situation carefully due to fears of job cuts and structural changes in content production.

For now, Warner has not taken a final decision and will review Paramount’s improved bid before moving ahead.

Also Read: Nvidia plans AI laptop chips launch in 2026