Category: Corporate

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Corporate

Sensex gains 150+ points, Nifty tops 26,050

Indian stock markets rose on Thursday, with the Sensex climbing over 150 points and the Nifty crossing 26,050. Investors were encouraged by strong global cues and renewed foreign inflows.

Among the top gainers were Adani Ports, Tech Mahindra, and Infosys, each rising about 1% in early trade. On the other hand, Titan, HDFC Bank, and Bajaj Finance were among the losers, showing some selling pressure.

The Bank Nifty index also strengthened, crossing the 59,000 level as banking stocks drew investor interest. Meanwhile, gold prices dipped slightly due to a stronger dollar, and the rupee traded around ₹88.66 against the US dollar.

Overall, optimism in technology and domestic sectors helped Indian equities start the day on a positive note.

Also Read: Groww shares fall 10% post‑IPO rally

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Corporate

Groww shares fall 10% post‑IPO rally

Groww’s parent company shares fell sharply on November 19, triggering a 10% lower circuit limit following a stellar post‑IPO rally. The stock had risen nearly 94% in just five trading sessions since its ₹100 listing, prompting early investors to book profits.

Analysts noted that while the company demonstrates strong revenue and profit growth, its elevated valuation has increased short‑term volatility risks. The upcoming quarterly results will be closely watched for indications of sustained business momentum.

Market experts suggest that investors exercise caution: early buyers may consider partial profit-taking, while new entrants should weigh the valuation against growth prospects.

Also Read: Adani secures Jaiprakash Associates with ₹13,500 crore offer

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Corporate

Sensex rises 513 pts, Nifty tops 26,050, IT stocks lead gains

Indian stocks closed higher on Wednesday, recovering from early losses as foreign inflows and a rebound in IT shares lifted sentiment. The Sensex gained 513 points, while the Nifty crossed 26,050.

Infosys and HCL Technologies led the rally, each rising around 4%, ahead of Infosys’ Rs 18,000 crore share buyback starting Thursday. Tata Consultancy Services, Hindustan Unilever, and Sun Pharma also contributed, climbing 1.5–3%.

The IT sector outperformed broadly, gaining 3%. Mid-cap stocks edged up 0.2%, while small-caps slipped 0.4%, showing a cautious tone in the wider market.

Also Read: Sensex gains 200 points, Nifty surpasses 25,950

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Corporate

Adani secures Jaiprakash Associates with ₹13,500 crore offer

Adani Enterprises has received unanimous approval from creditors for its ₹13,500‑crore takeover plan of Jaiprakash Associates Ltd (JAL), surpassing a higher bid from Vedanta Ltd due to more favorable prepayment terms. While Vedanta had offered approximately ₹17,000 crore, lenders opted for Adani’s proposal for its accelerated repayment schedule, which could settle dues within 18–24 months versus Vedanta’s five-year timeline.

JAL has been under insolvency proceedings since June 2024, with outstanding debt claims totaling around ₹55,000–57,000 crore. The Committee of Creditors (CoC), led by the National Asset Reconstruction Company (NARCL), will now submit the resolution plan to the National Company Law Tribunal (NCLT) for final approval.

Following the announcement, Jaiprakash Power Ventures Ltd (JP Power), in which JAL holds a 24% stake,  saw its share price surge nearly 9%, reflecting investor optimism that the Adani takeover could stabilise JAL and unlock long-term value.

Some market watchers note potential legal challenges from dissenting creditors, but the prevailing view is that Adani’s resolution plan is well-positioned for smooth implementation.

Also Read: Infosys opens ₹18,000 crore share buyback on Nov 20

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Corporate

Morgan Stanley calls Eternal dip a buying opportunity

Eternal Ltd, the parent of Zomato and Blinkit, has seen its shares slide this month, but Morgan Stanley believes the correction has opened a favourable entry point for investors.

The global brokerage has maintained its ‘overweight’ rating and raised its target price slightly to ₹427, saying Eternal now offers one of the strongest risk-reward profiles in India’s digital sector.

Investor worries have centred on rising losses at Blinkit and stretched valuations, but Morgan Stanley argues that the company’s aggressive expansion, especially new dark stores, will strengthen future profitability. It also sees limited downside, estimating the stock could bottom out near ₹280–285, supported by Eternal’s more than US$1 billion cash buffer.

The brokerage says the recent fall reflects short-term concerns, while the long-term growth story remains intact.

Also Read: Infosys opens ₹18,000 crore share buyback on Nov 20

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Corporate

Infosys opens ₹18,000 crore share buyback on Nov 20

Infosys is launching its biggest-ever share buyback worth ₹18,000 crore. The company will start buying back its shares from November 20, and the window will stay open till November 26.

Infosys will buy up to 10 crore shares at a fixed price of ₹1,800 per share. This is higher than the current market price, so some investors may choose to sell their shares back to the company.

Shareholders who held Infosys shares on the record date, November 14, are eligible to take part. Small shareholders (those holding shares worth up to ₹2 lakh) have a separate reserved quota.

To participate, investors must tender their shares through their broker on NSE or BSE. Those holding physical share certificates must send the required documents to the registrar, KFin Technologies, before the deadline.

Infosys says the buyback is part of its plan to return extra cash to shareholders. Promoters, including Nandan Nilekani and Sudha Murty, will not sell their shares in this buyback.

The company will complete payments to those whose shares are accepted by December 3.

Also Read: Bitcoin drops below $90,000, rebounds fast

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Corporate

₹623 crore laundered via 27 crypto exchanges

A government-backed investigation has uncovered a large-scale crypto-laundering network operating across India, with cybercriminals allegedly siphoning ₹623 crore through 27 domestic cryptocurrency exchanges over a span of 21 months. The findings, drawn from a collaborative global probe called “The Coin Laundry,” shed light on how stolen money is being systematically channelled through India’s fast-growing digital asset ecosystem.

Data compiled by the Indian Cyber Crime Coordination Centre (I4C) shows that funds taken from 2,872 victims, mostly through online investment frauds, job scams and loan app traps, were quickly converted into cryptocurrency and moved through exchanges before being routed overseas. Investigators identified suspicious flows in at least 144 cybercrime cases tracked over the past three years.

The scale of laundering varied significantly across platforms, with one exchange seeing inflows of more than ₹360 crore, while another recorded around ₹6 crore. Major platforms, including WazirX, CoinDCX, ZebPay, Giottus, Mudrex and CoinSwitch, feature in the list of exchanges flagged for further scrutiny.

Officials caution that the reported figure may represent only a fraction of the actual laundering activity. The nature of blockchain transactions, combined with inconsistent compliance standards across exchanges, has made it easier for criminal networks to exploit weak verification and monitoring systems. Investigators are examining possible failures in Know Your Customer (KYC) and anti-money laundering (AML) protocols.

The probe has also thrown up unusual links. One suspect associated with the laundering ring, believed to be of Russian origin, was connected to a film featuring Hollywood actor Kevin Spacey and Bollywood actor Disha Patani, held investor events in India and even hosted a birthday celebration in Mumbai for Maye Musk, mother of Elon Musk.

The revelations come at a time when India is still framing its long-term policy on cryptocurrency regulation. The findings underscore the need for stronger oversight, clearer compliance standards and faster reporting mechanisms to prevent exchanges from becoming conduits for global criminal networks.

Also Read: Microsoft, Nvidia invest $15 billion in Anthropic

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Corporate

Microsoft, Nvidia invest $15 billion in Anthropic

Tech giants Microsoft and Nvidia are joining forces to invest up to $15 billion in the AI startup Anthropic, the company behind the chatbot Claude. This move marks one of the biggest bets yet on the rapidly growing artificial intelligence sector.

As part of the deal, Anthropic has also committed to spend $30 billion on Microsoft’s Azure cloud services. The startup will tap into cutting-edge Nvidia hardware, using up to one gigawatt of computing power to run and expand its AI models.

The partnership goes beyond money. Microsoft, Nvidia, and Anthropic will work closely to design AI systems and infrastructure that make Anthropic’s models faster and more efficient. Microsoft CEO Satya Nadella said, “We will use Anthropic models, they will use our infrastructure, and we will go to market together.”

Even with this new partnership, Microsoft stresses that its collaboration with OpenAI, the company behind ChatGPT,remains crucial. Experts see this deal as part of a larger trend where cloud providers, chipmakers, and AI startups are increasingly interconnected, highlighting both the promise and the high stakes in AI development.

Also Read: Volkswagen cuts India EV budget, seeks local partner

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Corporate

Volkswagen cuts India EV budget, seeks local partner

Volkswagen is reducing its planned investment in electric vehicles (EVs) in India and is seeking a local partner to share the cost. The company has lowered its EV development budget from around $1 billion to about $700 million.

The move comes as VW’s presence in India remains small, the combined market share of Volkswagen and Skoda is just about 2%. Earlier talks with Mahindra & Mahindra for a partnership reportedly fell through last year. VW is now exploring other options, including Indian contract manufacturers such as JSW.

VW plans to launch its EV in India around 2028, in line with tighter emission norms starting 2027. In the meantime, it may import EVs, especially if an EU‑India trade deal makes this easier.

Despite the cutback, VW is committed to India, with Skoda’s affordable SUV, the Kushaq, performing well in the local market.

Also Read: Rajiv Jain’s GQG buys ₹5,094 cr stake in five Adani firms

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Corporate

Rajiv Jain’s GQG buys ₹5,094 cr stake in five Adani firms

Rajiv Jain’s GQG Partners, a global investment firm managing funds for institutions and individuals, has significantly increased its stake in five Adani Group companies, spending a total of ₹5,094 crore. The companies in focus are Adani Enterprises, Adani Ports & SEZ (APSEZ), Adani Green Energy, Adani Energy Solutions, and Adani Power.

The purchases were made through block deals, which are large share transactions conducted outside the open market. Most of the shares came from Reliance Trust Institutional Retirement Trust Series Eleven. This move reflects GQG Partners’ strong confidence in the Adani Group’s businesses across energy, infrastructure, and green power sectors.

The investment was spread across the five companies, with Adani Enterprises accounting for around 53.42 lakh shares purchased at ₹2,462 each, costing approximately ₹1,315.2 crore. Adani Ports & SEZ saw about 73.17 lakh shares bought at ₹1,507.6 each, totaling ₹1,103.14 crore, while Adani Green Energy involved nearly 77.39 lakh shares at ₹1,088.6 each, amounting to ₹842.53 crore. Adani Energy Solutions recorded 53.94 lakh shares at ₹1,021.55 each, roughly ₹551.08 crore, and Adani Power added 83.61 lakh shares at ₹153.28 each, totaling around ₹1,281.57 crore.

Prior to this transaction, GQG Partners held smaller stakes in these companies, ranging from about 1.5% to 2.5% in each. The recent purchases significantly increase GQG’s presence in the Adani Group, indicating confidence in the group’s growth prospects and long-term potential.

Also Read: Bengaluru’s Sarla Aviation invests ₹1,300 cr in Andhra’s aerospace facility