Markets

AI Giant Perplexity Locks Down 2028 IPO Plan Regardless of OpenAI and Anthropic Market Reactions AI firm Perplexity is firmly focused on its own public listing, planning an Initial Public Offering (IPO) in 2028. This intention remains steadfast despite the market performance or outcome of similar listings from competitors like OpenAI and Anthropic, CEO Aravind Srinivas told CNBC.Perplexity's Strategic Focus Remains Unwavering Srinivas stated that Perplexity’s planning is agnostic to how the other major AI firms go public. He confirmed that their internal roadmap holds firm, ensuring a move toward an IPO in 2028."Agnostic of these two companies, we were planning for something in 2028, so that still remains the case," Srinivas...

Wipro Launches Mega Buyback Program of Up To ₹ 15 Thousand Crore, Targeting Shareholder Returns Wipro Limited has initiated a significant share buyback program, offering eligible shareholders an opportunity to sell their equity shares at a fixed premium. The company is undertaking the buyback through a tender offer route via the stock exchanges.The proposed buyback targets up to sixty crore (60,00,00,000) fully paid-up Equity Shares of the company. With a face value of ₹ 2/- per share, the shares are being offered back at a Buyback Price of ₹ 250/- per Equity Share. The aggregate consideration for this buyback is up to ₹ 1,50,00,00,00,000 (Rupees Fifteen Thousand Crore only).The offer was released following the approval of a special...

Fintech Titans Surge Back: PhonePe, CRED Resume Rental Payments After Mastering RBI's Compliance Maze Fintech powerhouses PhonePe and CRED are set to reintroduce rent payments via credit cards after successfully developing a stringent marketplace platform model. The companies, expected to launch the service within the next month, have addressed past regulatory concerns that forced most platforms to discontinue this lucrative segment of their business.The relaunch represents a major pivot for the Indian fintech landscape. This move ensures strict adherence to Reserve Bank of India's (RBI) guidelines, particularly concerning the use of credit cards in P2P transactions.The Relaunch and the Marketplace Platform Design After previous...

LNG Prices Set for Major Rally: Morgan Stanley Predicts 30%+ Upside Driven by Asian Demand Surge Forecast Highlights Massive Price Rises for LNG Morgan Stanley forecasts a significant surge in liquefied natural gas (LNG) prices, projecting them to reach levels not seen in over three years. The analysts believe the price is destined to rise to $25 per million British thermal units during the third and fourth quarters of the year.This forecast suggests an upside exceeding 30% for the forward curve. Such a level was last achieved in early 2023, primarily driven by European nations pushing to counterbalance losses from Russian pipeline supplies that had impacted global prices.Drivers Behind LNG Price Escalation The bank noted that...

Oil Prices Inched Up Amid Tense Standoff After Iran and Israel Cease Fire Talks Oil prices experienced a marginal rise in early trade on Tuesday, finding themselves amidst heightened geopolitical uncertainty. This slight uptick followed calls by Iran and Israel to halt military actions following an appeal made by U.S. President Donald Trump. The market is currently processing the fragility of this truce against a backdrop of ongoing regional tension.Brent crude futures climbed 13 cents, registering at $94.38 a barrel (0.14%). Meanwhile, U.S. West Texas Intermediate was up 11 cents, trading at $91.41 a barrel (0.12%). This modest movement follows a previous session where prices had surged by up to 5% after renewed strikes in the region...

Asian Stocks Surge on AI Demand and Middle East De-escalation Asian stock markets witnessed a significant rebound after bottoming near March lows, driven by easing geopolitical tensions and renewed investor confidence in the artificial intelligence sector. The recovery signals stability in global risk assets following days of losses spurred by fears regarding a potential Federal Reserve rate hike. Indices across Asia showed robust gains as tech stocks recovered, underpinned by developments in chip technology and diplomatic progress between key Middle Eastern nations.Asian Markets Recover Amid Tech Rally and Easing Geopolitical Heat The broader MSCI Asia Pacific Index rose 0.9%, following a three-day slump fueled by interest rate...

Tata Trusts Scrutinize High-Stakes Governance Ahead of Crucial Board Meeting on Future of Titan's Empire Trustees of major holding entities within the Tata group, including the Sir Dorabji Tata Trust (SDTT) and the Tata Education and Development Trust, convened a significant review meeting on Monday. These meetings precede the critical board gathering of Tata Sons scheduled for June 12, an event expected to finalize several strategic directions for the conglomerate.The focus of these gatherings remains deeply entwined with the governance structure of Tata Sons, as trustees appointed by the Trusts hold central sway over key corporate decisions within the holding company. Currently, Tata Trusts Chairman Noel Tata and trustee Venu...

Gold Stabilizes After Israel and Iran Agree to End Missile Attacks Amid Global Tensions Spot gold held steady in early trading after Israel and Iran agreed to cease missile strikes. This de-escalation comes amid ongoing concerns regarding the wider resolution of the Middle East conflict, which has significantly unsettled global markets. Bullion traded near $4,325 an ounce in morning trading, mirroring the movement it showed during the previous session.Gold's Performance Amid Geopolitical Tensions The agreement to halt missile attacks followed appeals for de-escalation from US President Donald Trump. The escalating conflict has created substantial instability globally. It is currently the fourth month of the war, and market activity...

Tech Stocks Surge on Investor Rebound While Geopolitical Tensions Drive Oil Prices Up US equity markets saw a significant recovery on Monday, driven by investor enthusiasm for technology stocks. This rally provided a sharp contrast to the steep sell-offs witnessed in Asian trading sessions earlier in the day. Meanwhile, global oil prices climbed moderately following renewed strikes between Iran and Israel, signaling heightened geopolitical uncertainty.Wall Street Tech Rally Aims to Absorb Prior Week's Losses Tech giants led the charge on Wall Street as investors began aggressively buying dips. The Nasdaq Composite Index gained 0.9 percent, fueled by strong rebound in technology stocks that suffered heavy losses last week. The S&P 500...

OpenAI Files for Landmark IPO; AI Titans Challenge Trillion Dollar Valuation After Massive Funding Rounds ChatGPT creator OpenAI has officially filed for a U.S. initial public offering, signaling a major push toward the stock market. This move places them alongside rival Anthropic as investment giants seek exposure to the rapid ascent of artificial intelligence technology. While the specific terms and size of the offering remain undisclosed, reports suggest OpenAI is targeting a valuation up to $1 trillion in a debut that could arrive as early as September.The Significance of AI Giant IPOs The anticipated public debuts from both OpenAI and Anthropic are poised to crystallize a transformative period for global markets. These...

Zepto Surges with 75% Revenue Jump as Operational Leverage Narrows Path to IPO Quick commerce leader Zepto has reported a significant operational and financial performance improvement in its Q4 FY26 results. The company saw revenue from operations surge by 75 percent year-over-year, showcasing strong scaling amid the journey toward its proposed Initial Public Offering (IPO).The updated draft red herring prospectus (DRHP) reveals that Zepto achieved revenues of ₹7,498 crore for the quarter ended March 2026. This figure marks a substantial increase from the Q4 figures of ₹4,278 crore reported one year prior and is also 29 percent higher than the ₹5,818 crore recorded in December.Improving Profitability Metrics Narrowing EBITDA Loss...

ED Summons Shakeup: Quick Commerce Giant Zepto Discloses Probe Ahead of Mega IPO, Reveals Massive Revenue Surge Founder Summons Reveal as Zepto Advances Towards Stock Market Debut Quick commerce leader Zepto has disclosed a significant regulatory event in its updated Draft Red Herring Prospectus (DRHP). The filing reveals that the company founders, Aadit Palicha and Kaivalya Vohra, were summoned by the Enforcement Directorate (ED) earlier this year. This disclosure comes as the startup prepares for its highly anticipated Initial Public Offering (IPO).The ED summons, dated April 8, 2026, was comprehensive in nature. It sought detailed information concerning foreign and overseas investments, audited financial statements dating back to...

NTPC Appoints Thirty-Four Officials as Executive Directors, Effective June 8, 2026 NTPC Ltd has appointed thirty-four officials as Executive Directors (Senior Management) of the Company, effective from June 8, 2026. These senior appointments represent a significant commitment to operational management and strategic development across various functional areas within the company.The appointees have extensive experience at NTPC, contributing over several decades to functions ranging from operations and maintenance to commercial activities and technical services. The details of these executives are outlined below, showcasing their specialized expertise and qualifications.Key aspects of the appointments include:Himmat Singh Chauhan...

DII Inflows Smash ₹4 Lakh Crore Mark: Domestic Giants Drive Resilience Against Foreign Selloff Domestic Institutional Power Surges Amid Market Volatility Domestic institutional investors (DIIs) have collectively poured over ₹4 lakh crore into Indian equities within the first five months of 2026. This significant capital infusion highlights a robust support mechanism beneath current market headwinds.The steady flow from DIIs comes despite prevailing volatility in Indian markets and substantial outflows from foreign investors. Foreign institutional investors have pulled out approximately $27.13 billion from Indian equities so far this year.This domestic resilience is underpinned by structural investment commitments rather than merely...

Zepto Stock Blast: Quick Commerce Giant Files UDRHP for Massive ₹8,010 Crore IPO Fundraise Zepto, a rapidly scaling player in India's competitive quick commerce landscape, has intensified its listing ambitions. The company has filed an updated Draft Red Herring Prospectus (UDRHP) with the Securities and Exchange Board of India (SEBI). This filing details the proposed Initial Public Offering (IPO), which is set to raise substantial capital through a fresh equity issue and an Offer-for-Sale (OFS) by existing shareholders.The UDRHP outlines plans for raising up to ₹8,010 crore via the fresh issuance of shares. Zepto intends to issue up to 1,60,20,000 equity shares, each with a face value of ₹5. Coupled with the OFS component, industry...

Telecom Relief: High Court Strikes Down Spectrum Charge for Bharti Airtel and Vodafone Idea The stock market is buzzing with regulatory wins and major corporate developments today, highlighted by a significant victory for major telecom players. The Bombay High Court delivered a landmark ruling, overturning the Centre’s one-time spectrum charge imposed on both Bharti Airtel and Vodafone Idea. This verdict was granted after the court ruled that the government lacked the authority to retrospectively change the financial terms of their telecom licenses years after they were originally issued.Corporate Actions and Investment Milestones Several companies reported major operational milestones, from significant revenue growth in...

Rate Hike Specter Looms: Why Global Risks Could Force RBI to Act in 2027 if Inflation Deepens The Reserve Bank of India (RBI) is widely expected to maintain a cautious, data-dependent stance on interest rates through 2026. However, the possibility of rate hikes emerging in calendar year 2027 has grown increasingly pronounced as global fuel costs, persistent food price pressures, and geopolitical disruptions mount significant inflationary risks.International financial analysts suggest that while current domestic growth shows signs of moderation, these supply-side shocks could eventually compel the central bank to revise its monetary policy.International View on Future Rate Decisions Financial institutions are keenly monitoring the...

Ather Energy Announces Board Meeting to Approve Multi-Instrument Fundraising Plan Ather Energy Limited has announced that its Board of Directors will meet on Friday, June 12, 2026, to consider and approve a proposal for raising funds through various security issuances.The company intends to raise capital by issuing a combination of securities, which include equity shares, foreign currency convertible bonds (FCCBs), non-convertible debentures, warrants, or other eligible instruments representing equity shares or convertible into equity shares. These funds can be raised in Rupee denomination or denominated in one or more foreign currencies.The proposed fundraising methods are broad and may encompass a public issue, rights issue...

NIS Management Ltd Wins Renewal of Work Orders from Reliance Group Worth Nearly ₹15 Crore NIS Management Limited has secured the renewal of several work orders from the Reliance Group, amounting to INR 14,94,48,448.60. The contracts pertain to essential support services for various entities within the group.The renewal includes business across seven different companies belonging to the Reliance umbrella. These include Reliance Projects and Property Management Services Limited, V-Retail Limited, Reliance Brands Limited, Reliance Luxe Beauty Limited, Reliance Brands Eyewear Private Limited, Reliance Ritu Kumar Private Limited, and Reliance Gas Lifestyle India Private Limited.NIS Management Ltd will provide Housekeeping Services, MEPC...

Muthoot Capital Services Completes Securitization, Raising Over ₹85 Crore Funds Muthoot Capital Services Limited (MCSL) successfully completed a securitization transaction on June 08, 2026. Through this transaction, the company raised a substantial amount of funds by assigning receivables totaling ₹90,54,56,233.The company secured ₹85,11,28,859.02 in tranches during the securitization process. The assigned pool represents non-priority sector assets and was managed according to relevant guidelines.This initiative marks the second securitization transaction conducted by Muthoot Capital Services Limited for the financial year 2026-27.Key details of the securitization transaction are summarized below:MetricDetailsDate of...