Markets

Oracle Halts Job Cuts: AI Adoption Drives Significant Workforce Reduction as Headcount Falls to 141,000 Oracle Reduces Staff by 21,000 in One Year Amid AI Integration Costs Oracle Corporation has announced a significant reduction in its workforce, confirming the elimination of approximately 21,000 employees over the past year. This decision underscores the growing impact of artificial intelligence on large-scale corporate operations and staffing levels.The company stated in an annual financial regulatory filing that the adoption and deployment of AI technologies across Oracle's operational framework have directly contributed to workforce reductions. These measures are part of a broader effort to streamline operations while managing...

Sony Gears Up for Massive Comeback: Planning First Dollar-Bond Sale in Nearly Three Decades Sony Group Corp., the technology and entertainment giant, is preparing to re-enter the US investment-grade bond market after a significant hiatus. The company is set to launch its first dollar-bond sale in nearly three decades, signaling a major strategic move for the global corporation.Sources with direct knowledge of the matter revealed that Sony has mandated Bank of America Corp. and Morgan Stanley to hold calls with debt investors. These investor meetings are part of preparations for a two-tranche note offering, which will feature five and 10 year maturities.Why Companies Are Turning to Bond Markets Now The offering is intended to raise...

M R Maniveni Foods Ltd's Board Approves Annual Results for FY2026; Revenue and Profit Detailed M R Maniveni Foods Limited, formerly known as M. Ramadevi Enterprises Private Limited, has approved its audited financial results for the fiscal year ended March 31, 2026. The company's annual performance reflects fluctuations in revenue and significant changes in its capital structure and cash flow generation compared to FY2025, according to statements reviewed by Krishaan & Co.The Board of Directors approved the financial results alongside the independent auditors report issued by Ms. Krishaan & Co.Financial Performance Highlights (FY2026 vs FY2025) Analysis of the P&L statement reveals a decrease in revenue from operations for the year...

$14.9 Billion Fund Surges into IT Amid AI Fears, Vows Counter-Bet Against Tech Downturn India’s largest actively managed equity fund is mounting a powerful contrarian bet against widespread investor fears regarding artificial intelligence (AI) and its potential impact on the outsourcing industry. PPFAS Mutual Fund’s $14.9 billion Flexi Cap Fund has significantly increased its exposure to technology services companies over the past three months as valuations across the sector have cooled sharply.The fund is not solely focused on tech, however. Chief Investment Officer for equities, Rajeev Thakkar, revealed that PPFAS has also been deploying cash into financials, utilities, and coal mining stocks, strategically diversifying its...

Gold Steady as US-Iran Peace Talks Signal Progress Amid Economic Headwinds and Hawkish Fed Signals Gold steadied early after the United States and Iran signaled progress in ongoing negotiations aimed at ending a conflict that has destabilized global markets and fueled inflation concerns. The bullish momentum generated by these diplomatic talks, however, is facing significant resistance from aggressive monetary policies and strengthening currencies.Gold Holds Ground as Global Markets Await Peace Progress Spot gold was virtually unchanged at $4,188.91 an ounce in Singapore at 8:00 a.m. This stability follows the precious metal's previous session gain of nearly 1%, which snapped a three-day decline. Vice President JD Vance confirmed that...

M.R. Maniveni Foods Ltd Posts Financial Results for FY26; Revenue Declines, Net Profit Stands at 385.80 Lakhs M.R. Maniveni Foods Limited, a food products company operating in Chennai, has announced its audited financial results for the fiscal year ended March 31, 2026. The Board of Directors approved the results along with the Independent Auditors report issued by Ms. Krishaan & Co.The company reported a decline in revenue from operations for the year ending March 31, 2026, compared to the previous fiscal year.Financial Highlights (in Lakhs) The financial performance metrics are as follows:MetricFY Ended 31-03-2026 (Audited)FY Ended 31-03-2025 (Audited)Revenue from Operations16,974.6420,348.38Total...

IP Rings Ltd. Acquires Manufacturing Division of IPR Eminox in Slump Sale Transaction IP Rings Limited has entered into a Business Transfer Agreement with IPR Eminox Technologies Private Limited, its Joint Venture Company. The transaction involves the purchase of IPR Eminox’s manufacturing business on a going concern basis through a slump sale, alongside an agreement for Licensing and Technical Support.The parties are IP Rings Limited (Purchaser) and IPR Eminox Technologies Private Limited (Seller). IP Rings holds a 50% shareholding in the Joint Venture Company. The purpose of the agreement is to purchase the manufacturing division of IPR Eminox, which specializes in Exhaust After Treatment Systems.Under the terms of the slump sale...

Earkart Ltd Incorporates UK Subsidiary to Focus on Healthcare Services Earkart Limited has established a new foreign subsidiary in the United Kingdom, dedicated to providing healthcare services and related products. The incorporation of Earkart Health Limited marks a strategic expansion for the company into the specialized healthcare sector.The subsidiary was formally incorporated in the United Kingdom on 08 June 2026. Earkart Health Limited is positioned within the Healthcare industry and has been established to undertake healthcare services, produce healthcare products, and conduct allied activities. The board noted that this business area remains consistent with the core business of Earkart Ltd.The acquisition and investment...

Pfizer Bet Hits Major Setback: Lung Cancer Drug Fails Trial, Triggering Market Jitters Experimental Drug Failure Undermines $43 Billion Seagen Acquisition Pfizer Inc. has announced that one of its key experimental drugs failed to meet expectations in a critical advanced-stage lung cancer trial. The drug, sigvotatug vedotin, did not show a significant improvement in survival for patients whose cancers could not be treated surgically.The setback significantly affects the future outlook for this medicine. Pfizer had acquired Seagen Inc. for $43 billion in late 2023, and the company was banking on sigvotatug vedotin becoming a leading drug of a new class. This class involves directed antibody-drug conjugates that deliver powerful...

DEE Subsidiary Secures Rs 64 Crore Order for Windmill Tower Manufacturing DEE Development Engineers Limited's wholly owned subsidiary, M/s DEE Fabricom India Private Limited, has secured a significant order worth approximately Rs 64 Crores. The contract involves the manufacturing of windmill towers for a major solar entity, Ganeko Solar Private Limited.The substantial order relates to supplying fifteen EN156 Envision make 353 MT Windmill Towers designated for use with 3.3MW windmills. The contract places the execution timeline in January 2027.M/s DEE Fabricom India Private Limited will be manufacturing these towers for Ganeko Solar Private Limited, a domestic entity.Key details regarding the contract are as follows...

Asian Stocks Dip as Geopolitical Tensions Rise Amid US-Iran Peace Talks Asian stocks experienced early trading declines as investors monitored developments in the ongoing US-Iran peace negotiations. This movement occurred against a backdrop of slightly rising oil prices, while concerns over AI investment returns and global economic confidence weighed on markets.Asian Market Performance and Equity Slumps The MSCI gauge tracking regional shares fell as much as 0.2% in early trading. Simultaneously, S&P 500 futures edged down by 0.4%, dragged lower by a decline in megacap tech stocks and increasing bond yields. Brent crude prices saw a slight increase, rising to trade above $78 a barrel.In the technology sector, SpaceX shares dropped...

E To E Transportation Infrastructure Limited Awarded ₹31 Crore Contract by Southern Railway for Rail Doubling Project E To E Transportation Infrastructure Limited has been declared the lowest bidder (L1) by Southern Railway, Thiruvananthapuram Division. The contract involves significant works related to signaling and telecommunication arrangements for a major rail infrastructure project between Thiruvananthapuram Central and Kanniyakumari Station.The agreement encompasses providing Indoor and Outdoor signaling and telecommunication arrangements at Thiruvananthapuram Central station. It also includes specialized Signalling and interlocking arrangements at LC gates and necessary Indoor and Outdoor Signalling telecommunication...

Defence & Green Tech Surge: Key Stocks in Focus as BEL Secures Mega Orders and Hydrogen Initiatives Heat Up The corporate landscape is buzzing with major capital movements, strategic partnerships, and significant order wins across key sectors. From defence contracts exceeding Rs 1,000 crore to pioneers in green energy solutions, market focus is shifting toward companies making massive structural shifts. Investors are tracking announcements related to technology investment, infra expansion, and promoter stake management.Defence and Infrastructure Wins Drive Sector Rally Bharat Electronics Ltd (BEL) has secured substantial additional orders worth Rs 1,081 crore since May 25. These critical contracts encompass a wide range of products...

Hindalco Industries Limited reports strike off of wholly owned subsidiary East Coast Bauxite Mining Company Hindalco Industries Limited has announced the voluntary strike-off of its wholly owned subsidiary, East Coast Bauxite Mining Company Private Limited, effective June 22, 2026. The company's Registrar in Cuttack, Ministry of Corporate Affairs, carried out the strike off under Section 248 of the Companies Act, 2013, following a Notice of Striking Off and Dissolution dated June 22, 2026.As a result of this action, East Coast Bauxite Mining Company Private Limited no longer holds the status of being a wholly owned subsidiary of Hindalco Industries Limited as of the specified date.The company confirmed that this transition will have...

East Coast Bauxite Mining Company Struck Off, Ceasing Status as Subsidiary of Hindalco Industries Limited East Coast Bauxite Mining Company Private Limited (East Coast), a wholly owned subsidiary of Hindalco Industries Limited, has been struck off by the Registrar of Companies, Cuttack, Ministry of Corporate Affairs. The company was voluntarily struck off following an application for voluntary strike off, making it no longer a wholly owned subsidiary of Hindalco Industries Limited, effective June 22, 2026.The cessation of East Coast as a subsidiary means that the operational and financial changes are related to this dissolution event. Hindalco Industries Limited stated that this action will have no material impact on the operations or...

SpaceX Stock Plunges 16%, Erasing $600 Billion as Company Taps Debt Market for AI Expansion The stellar debut of Elon Musk's SpaceX on Nasdaq has encountered significant resistance, with shares plunging 16% on Monday, June 22. This decline marks the third consecutive day of losses, erasing a substantial portion of its post-listing gains.The market correction has seen the company shedding nearly $600 billion in market value since the selloff commenced.This sharp reversal comes after SpaceX had briefly become a major tech behemoth, once surpassing giants like Amazon and Microsoft in capitalization. The stock previously climbed to a high of $225 per share post-listing.Factors Driving the Stock Correction A key factor contributing to...

FIIs Surge into Indian Equities After Macro Stabilizes; Debt Inflows Jump as Sentiment Turns Positive Foreign Institutional Investors (FIIs) have initiated a significant buying trend in the Indian equity market, injecting approximately $899 million worth of shares over the past five trading sessions. This robust inflow marks a positive reversal after FIIs had previously turned bearish on debt instruments. The renewed interest from global investors has provided support to domestic markets, with both the Sensex and Nifty gaining nearly 3 percent so far in June.Reversal in Foreign Investor Sentiment While recent equity inflows are notable, foreign activity has been transformative across related asset classes. Since June 4, FIIs have...

Titan Company Limited Records Resignations of Non-Executive Directors Titan Company Limited has seen the resignation of three non-executive, non-independent directors as of June 22, 2026. The resignations were reported following a communication from TIDCO, a Co-Promoter of the company.The Board confirmed that Ms. Sandhya Sharma, Mr. Arun Roy, and Ms. Mariam Pallavi Baldev have resigned from their respective positions at Titan Company Limited. The resignation was linked to the withdrawal of nomination by TIDCO, the co-promoter.Ms. Sandhya Sharma, who served as Chairperson & Non-Executive, Non-Independent Director, has tendered her resignation. Mr. Arun Roy and Ms. Mariam Pallavi Baldev also stepped down from their roles as...

Anchor Book Ignites Rally Hopes: Advit Jewels Mobilises Rs 49.52 Crore Ahead of IPO Launch Advit Jewels, a leading Jaipur-based manufacturer of fine jewellery, successfully secured significant investment ahead of its upcoming Initial Public Offering (IPO). The company raised ₹49.52 crore through the anchor book on June 22, just one day before the public subscription phase commenced. This successful institutional participation signals strong investor confidence in the brand's market potential.Institutional Confidence Boosts Anchor Book Raise Four prominent institutional investors participated in the anchor allocation process, acquiring a total of 35.88 lakh shares at ₹138 per share. The demand demonstrated by these institutions...

Oil Prices Plunge as US Waives Iran Sanctions; Nasdaq Tumbles Amid Tech Giants' Massive Capital Demands Global Markets Reel as Oil Slips on Iranian Sanction Easing and Tech Stock Jitters Crude prices saw a retreat on Monday after the United States announced it is temporarily lifting sanctions against Iran. The measure allows the Islamic Republic to produce, sell, and deliver crude oil and related products through August 21. This development comes following a memorandum of understanding (MOU) signed last week between Tehran and Washington.The US Treasury confirmed the temporary relief of sanctions, signaling progress in negotiations. Vice President JD Vance stated that a "very good foundation" had been laid for discussions toward a...