Market News
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Tech Mahindra Rubbishes Viral Buzz of 30,000 Layoffs
Tech Mahindra has dismissed social media rumours claiming the company plans to lay off thousands of employees, stating in an exchange filing that no such proposal is under consideration.
The two defence stocks this portfolio manager likes
Conrad Saldanha, MD & Portfolio Manager of Neuberger Berman, says market uncertainty due to Middle East tensions has created selective long-term opportunities. He sees attractive valuations emerging in global IT services after a sharp correction, while tech fundamentals remain strong. In India, he is selectively adding large caps like Reliance Industries and Bharti Airtel and likes IT midcaps such as Coforge and Persistent Systems as well as defence play Data Patterns, on weakness. Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
Slow motion: US companies cautious amid India's mega M&E Boom
American media giants are rethinking their India strategy. Recent years saw major players like Disney and Paramount adjust their stakes or exit operations. Lionsgate sold its streaming service. These moves reflect the challenges of India's competitive media landscape. Companies are now focusing more on content licensing rather than direct investment in local platforms.
How Gen X’s favourite gadgets like flip phones, wired earphones are finding a new set of fans: Gen Z
According to media reports, retailers in the UK reported that CD/MP3 player sales were up roughly 44% since July (year-on-year) and spiked 225% over Black Friday last season, while pointand-shoot cameras, a category overlapping with early digital and film photography, increased 27%. These surges were driven largely by younger consumer interest.
Fino Payments Bank CEO Arrested: FM Sitharaman to 'check' GST evasion case
Finance Minister Nirmala Sitharaman will investigate the arrest of Fino Payment Bank CEO Rishi Gupta. Gupta was apprehended by GST authorities in Hyderabad. The bank stated the probe concerns a business partner's transactions, not the bank's compliance. Social media questioned the extent of GST powers. The Finance Minister acknowledged the issue and promised to look into it.
Mint Explainer: What does Meta's capitulation mean for Indian WhatsApp users and Big Tech?
After years of legal resistance, the social media giant’s pledge to grant users data-sharing control marks a watershed victory for Indian digital sovereignty and antitrust enforcement.
Processed food 'false narrative' by influencers harming sector, need to counter it: Chirag Paswan
Union Minister Chirag Paswan has raised alarm over social media influencers allegedly circulating misleading claims about processed foods. Calling the trend harmful to the food processing industry’s development, he appealed to stakeholders, experts, and platforms to work together to challenge misinformation and promote fact-based communication that safeguards both industry growth and consumer confidence.
Market ends sideways; Nifty settles near 25,500 level; VIX drops 3.15%
Nifty ended near the 25,500 level. Pharma, PSU bank and oil & gas shares advanced, while media, FMCG and financial services stocks declined.
Cholamandalam Investment rejects report on Vellayan Subbiah exit, says claims 'baseless'
Cholamandalam Investment has strongly denied a media report about its executive chairman Vellayan Subbiah exiting the firm. The company stated the claims are factually incorrect and baseless. Subbiah's office confirmed he continues in his role for his approved five-year term. There are no changes in management control or ownership structure across group businesses. Existing leadership arrangements remain unchanged.
Market Wrap: Sensex ends 317 points higher, Nifty above 25,550 aided by L&T, RIL
India’s markets rebounded from early losses, ending the session on a positive note. Broad-based buying supported gains, led by major industrial, energy, and consumer stocks. Public sector banks, auto, and FMCG sectors outperformed, while IT and select media stocks faced selling pressure. Market sentiment remained firm despite volatility.
Turning point is here as AI can help Indian media's share in global pie to explode, Uday Shankar says
Despite India's massive media industry, it hasn't achieved global content dominance due to capital constraints, Uday Shankar said. However, he believes AI offers a "once-in-a-generation opportunity" for India to become a content leader by reducing production costs, enhancing consumer interaction, and enabling dynamic commerce, urging the industry to embrace disruption.
Taking Stock: Nifty manages to close above 23,900 amid volatility; power, metal, media shine
Hindalco Industries, Power Grid Corp, Tata Motors Passenger Vehicle, Eternal, NTPC were among major gainers on the Nifty, while losers were ONGC, ITC, HDFC Life, HDFC Bank, Wipro.