Category: Corporate

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Corporate

IndiGo appoints ex-Air India Express head as CSO

India’s largest airline, IndiGo, has brought in seasoned aviation executive Aloke Singh as its new Chief Strategy Officer (CSO), as the carrier sharpens its focus on future growth and stability. Singh will take on the role from April 6, stepping into a key position at a time when the airline is navigating leadership changes and expansion plans.

Singh joins IndiGo after leading Air India Express, where he served as Managing Director and CEO for several years. During his tenure, he played a major role in strengthening the airline’s operations and guiding its integration with AirAsia India, helping build a more unified low-cost business within the Tata Group’s aviation portfolio.

At IndiGo, Singh’s role will revolve around shaping the airline’s long-term strategy. This includes identifying new growth opportunities, improving efficiency, and ensuring the airline remains competitive in an increasingly crowded aviation market. He will report to co-founder Rahul Bhatia for now, until a new chief executive officer is appointed.

The timing of the appointment is significant. IndiGo has been undergoing a transition phase, with changes in top leadership and an ambitious roadmap for expansion. The airline is looking to grow its international footprint, add more aircraft, including wide-body planes and strengthen its position in both domestic and global markets.

Singh brings with him over two decades of experience in aviation, having held leadership roles not just at Air India Express but also at Air India and Oman Air. His deep understanding of airline operations and strategy is expected to help IndiGo navigate its next phase of growth more smoothly.

With a dominant share of India’s aviation market, IndiGo is already the country’s leading carrier. However, increasing competition and evolving passenger expectations mean the airline must continuously adapt. Singh’s appointment signals a clear intent to stay ahead by focusing on long-term planning and strategic execution.

Also Read: Food delivery startup ‘Swish’ raises $38 mn

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Corporate

Food delivery startup ‘Swish’ raises $38 mn

Food delivery startup Swish has raised $38 million in a new funding round, more than doubling its valuation and showing strong investor interest in fast delivery services.

The funding was led by Hara Global and Bain Capital Ventures, with participation from existing investor Accel. The company’s valuation has now increased to about $140 million, up from around $60 million earlier.

Founded in 2024, Swish focuses on delivering freshly prepared food within 10 minutes. It operates its own cloud kitchens located close to customers, which helps it deliver food quickly. The service currently runs mainly in Bengaluru.

Swish plans to use the new funds to expand its business, improve its supply chain, and invest in better technology. It also aims to enter new cities like Delhi-NCR in the near future.

The company handles around 20,000 orders every day in Bengaluru. It has also expanded its menu from snacks to include full meals, drinks, and desserts to attract more customers.

Unlike many food delivery platforms, Swish manages the entire process, from cooking to delivery. This allows it to control quality and reduce costs, which is important in the fast delivery business.

The quick delivery segment is still challenging, as it requires high spending and efficient operations. Some larger companies have slowed down similar services due to high costs. However, Swish believes its focus on small delivery areas and strong technology can help it grow.

So far, the startup has raised about $54 million in total funding within a short time. This shows that investors are willing to support new ideas in the food delivery market.

Swish’s latest funding highlights increasing competition in India’s fast delivery space, where companies are trying to offer quicker services to meet the growing demand for convenience.

Also Read: SC flags ‘reluctance’ in Anil Ambani probe

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Corporate

Sensex surges 1,100 points, Nifty crosses 22,800

After a nerve-wracking Monday, Indian equity markets bounced back on Tuesday, 24 March 2026, with a broad-based rally lifting the BSE Sensex by over 1,100 points and pushing the Nifty50 past the 22,800 mark. Investor sentiment improved as geopolitical tensions eased and global markets offered supportive cues.

Monday had been a rough day for Dalal Street. Fears of conflict in the Middle East, surging crude prices, and foreign institutional selling drove the Sensex down nearly 1,837 points, while the Nifty dipped to around 22,500, wiping out significant wealth from investors’ portfolios.

Tuesday’s turnaround was led by standout performers across sectors. IndiGo and Asian Paints topped the gainers, each surging roughly 4%, while banking stocks regained strength. HDFC Bank ended its four-day losing streak with a gain of about 3%, buoyed by stabilizing news around leadership changes. Energy companies also benefited, with HPCL and BPCL rising as crude oil prices eased slightly from recent highs.

The relief rally was also fueled by news from the geopolitical front. Reports of the U.S. postponing planned strikes on Iran helped ease fears of a broader conflict, bringing a sigh of relief to investors wary of further market shocks. The positive sentiment was mirrored in Asian and global markets, which also traded higher.

However, not all stocks enjoyed the rally. Some financials and metal companies lagged behind, showing modest gains or trading flat, as investors cautiously evaluated the sustainability of the rebound. Analysts note that while the relief rally demonstrates renewed risk appetite, markets remain sensitive to geopolitical developments and crude oil movements.

For now, Indian markets have shaken off Monday’s jitters, offering a welcome breather to investors, but the coming days may still see volatility as the global situation evolves.

Also Read: PM Modi highlights India’s West Asia concerns

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Corporate

L&T steady in Middle East, eyes energy growth

Engineering and infrastructure giant Larsen & Toubro (L&T) says the ongoing Middle East conflict has had limited impact on its operations, though supply chain disruptions remain a concern. The company reports that around 95% of its projects in West Asia are running smoothly, highlighting resilience despite rising geopolitical tensions in the region.

L&T derives over one-third of its revenue from the Middle East, making stability in the area a key factor for its business. While a small fraction of projects, roughly 5%, face delays, these are not significant enough to affect the company’s overall performance.

Supply chain issues are the main risk flagged by L&T. Shipping delays from international suppliers, particularly in China and Europe, have affected timely material movement. To address this, the company is maintaining on-site inventory and exploring alternative logistics routes via Oman and the Red Sea, ensuring continuity for ongoing projects.

Looking ahead, L&T sees post-war reconstruction and energy diversification as major growth opportunities. With increased infrastructure, power, and energy sector activity expected, the company is positioning itself for upcoming project awards and accelerated execution.

Executives also highlighted opportunities in alternative energy projects, including solar, green hydrogen, and carbon capture, as well as alternative pipeline routes. These initiatives are gaining importance as countries in the region seek to strengthen energy security and reduce reliance on critical chokepoints like the Strait of Hormuz.

Also Read: NSE IX offers US stocks via GIFT City

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Corporate

Sensex slides nearly 1850 points, Nifty dips to 22,550

Markets plunged sharply on Monday, March 23, 2026, as global uncertainties and rising crude oil prices triggered widespread selling. The BSE Sensex closed at 72,696, down nearly 1,850 points, while the Nifty 50 fell to 22,512, a loss of around 600 points, wiping out about ₹14 lakh crore in market capitalization.

Despite the broad weakness, a few stocks bucked the trend. Vedanta, Tata Capital, Tata Motors, Godrej Properties, and Dr. Reddy’s attracted investor attention, posting modest gains due to company-specific developments and active trading interest.

Market breadth was weak, with realty, metals, banking, consumer durables, and telecom stocks bearing the brunt of the sell-off. Large-cap banks such as HDFC Bank and conglomerates like ITC retreated sharply. Mid- and small-cap stocks were even more affected, with several hitting 52-week lows as risk-off sentiment dominated trading.

Analysts said the downturn was driven by escalating geopolitical tensions in the Middle East, involving the US, Iran, and allied nations, which spurred fears of higher crude prices and energy inflation. The India VIX, a gauge of market volatility, surged, reflecting elevated uncertainty.

Foreign institutional investors continued net selling, while the Indian rupee weakened against the US dollar, adding to bearish sentiment. Rising crude oil prices and higher US bond yields further dampened risk appetite, prompting investors to prioritize capital preservation over fresh buying.

Also Read: Sensex tanks 1,500 points, Nifty below 23,000

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Corporate

NSE IX offers US stocks via GIFT City

The NSE International Exchange (NSE IX) has launched a new platform at GIFT City, Gujarat, allowing Indian investors to buy U.S. stocks and ETFs directly. Now, investors can access major companies like Apple, Microsoft, and Tesla without opening an overseas brokerage account.

The service, called Global Access, operates under the RBI’s Liberalised Remittance Scheme (LRS), which permits individuals to invest up to $250,000 per year in foreign markets. The sign-up process is fully digital, requiring Aadhaar, PAN, and DigiLocker verification, enabling users to start trading in minutes.

Currently, the platform offers U.S. equities, but NSE IX plans to expand to over 30 international markets within the next few months. Investors can also purchase fractional shares, making it easier to invest in high-priced stocks.

The platform has seen strong early interest, with about 2,000 users enrolling during the soft launch. Funds are remitted in Indian rupees and converted to dollars for overseas transactions, and trading includes equities, ETFs, and debt instruments, though derivatives are not yet available.

Also Read: Kotak nears ₹4,500 cr deal for Deutsche unit

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Corporate

CoinDCX co‑founders arrested in fraud case

Two co‑founders of India’s crypto exchange CoinDCX, Sumit Gupta and Neeraj Khandelwal, have been arrested in Bengaluru over an alleged fraud involving ₹71.6 lakh, police said. The case was registered on March 16 under sections related to cheating, breach of trust, and fraud.

Along with the co‑founders, four other individuals have also been taken into custody as police continue investigating the matter. Authorities are examining how the alleged scam was carried out and are gathering evidence to understand the role of all involved.

CoinDCX has denied any wrongdoing, stating that the FIR is based on a conspiracy involving impersonators who misused the company’s name and fake websites to carry out fraud. The exchange said it has reported hundreds of fake websites to authorities to prevent further misuse.

The arrests have raised concerns among crypto users and investors, highlighting the risks of scams and impersonation in digital asset platforms. Authorities have urged caution and emphasized the importance of cybersecurity and vigilance.

Also Read: Sebi to review FPI rules, settlement changes

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Corporate

Kotak nears ₹4,500 cr deal for Deutsche unit

Kotak Mahindra Bank is set to acquire the India retail business of Deutsche Bank in a deal valued at around ₹4,500 crore, according to reports.

Kotak has emerged as the frontrunner for the acquisition, which is expected to be finalised soon. The deal will include Deutsche Bank’s retail operations in India, comprising its branch network, customer accounts, deposits and loan portfolio.

The acquisition is seen as a strategic move by Kotak to expand its retail footprint. By taking over an established business, the bank is likely to gain immediate scale in segments such as personal banking, home loans and wealth management.

For Deutsche Bank, the proposed sale is part of a broader strategy to streamline its operations and focus on core areas like corporate and investment banking. The German lender, like several other global banks, has been reducing its presence in India’s retail banking space.

The deal reflects an ongoing trend in the sector, where foreign banks are exiting or scaling down retail operations, while domestic lenders are stepping in to acquire these assets and grow their market share.

Market participants say the acquisition could help Kotak strengthen its customer base, improve deposit growth and enhance its position in the competitive retail banking segment.

The transaction is also expected to support Kotak’s long-term growth strategy by expanding its reach without the time and cost involved in organic expansion.

If completed, the deal will mark another instance of consolidation in India’s banking sector, highlighting the growing dominance of local players and the shifting strategies of global banks operating in the country.

Also Read: Sebi to review FPI rules, settlement changes

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Corporate

OpenAI plans to double workforce to 8,000

OpenAI is planning a major hiring expansion, aiming to nearly double its workforce to around 8,000 employees by 2026 as competition in the artificial intelligence sector intensifies.

The company currently has about 4,500 employees and is rapidly scaling up recruitment across teams, including engineering, research, product development and sales. The move is part of a broader effort to strengthen its capabilities and meet growing global demand for AI tools.

A key focus of the hiring drive is the addition of roles that help businesses adopt AI technologies more effectively. These include specialists who can work closely with enterprise clients, helping them integrate OpenAI’s products into real-world applications. This signals a stronger push toward expanding its enterprise business.

The expansion comes at a time when the AI industry is witnessing intense competition, with major technology firms investing heavily in new models and platforms. OpenAI, known for developing ChatGPT, is looking to maintain its leadership position by accelerating innovation and scaling its operations.

Reports indicate that the company is also increasing its physical infrastructure, including office space, to support the growing workforce. Hiring has picked up pace in recent months as OpenAI looks to build capacity quickly.

The strategy highlights a shift toward long-term growth, with the company focusing not just on research but also on commercial adoption. As more businesses adopt AI tools, demand for support, customization and integration services is rising.

At the same time, OpenAI continues to face challenges such as high operating costs and the need to convert its popularity into sustainable revenue. Expanding its workforce is seen as a way to address these challenges while strengthening its position in the market.

Also Read: Samsung Galaxy S26 now works with AirDrop

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Sensex tanks 1,500 points, Nifty below 23,000

The sell-off was broad-based, with major sectors trading in the red. Banking and financial stocks were among the biggest losers. Shares of HDFC Bank, ICICI Bank, and State Bank of India declined significantly, dragging the indices lower.

Metal stocks also witnessed heavy selling pressure due to global growth concerns. Companies such as Tata Steel and JSW Steel were among the top laggards of the session.

In addition, oil-sensitive and infrastructure-linked stocks like Reliance Industries and Larsen & Toubro traded lower as rising crude prices raised cost concerns.

The market downturn was triggered by escalating geopolitical tensions in the Middle East, which pushed crude oil prices above $110 per barrel. This sparked fears of higher inflation and increased import costs for India, putting pressure on both equities and the currency.

Foreign institutional investors (FIIs) continued their selling streak, further weighing on market sentiment. The outflow of foreign funds has been a key factor behind the sustained weakness in Indian equities in recent sessions.

However, some defensive stocks managed to hold ground. FMCG and pharmaceutical companies showed relative resilience, with names like Hindustan Unilever and Sun Pharmaceutical Industries trading with mild gains or limited losses. These sectors typically perform better during uncertain market conditions.

Broader markets also mirrored the weakness, with mid-cap and small-cap stocks declining sharply, indicating widespread selling pressure across the board.