Author: Abizar Attari
News Editor

For the first time in twenty-six years, no Indian company is left in the MSCI Emerging Markets Top 10 Index. This index is used by global mutual funds and Exchange-Traded Funds (ETFs) as a benchmark for deciding which emerging market companies to invest in, and the recent AI boom has forced Indian companies out of it.  India’s primary heavyweights- HDFC Bank and Reliance Industries have moved from 7th and 8th positions in March to 11th and 12th positions in recent months, with their individual weightages slipping below 0.8% of the index. Overall, India’s weightage in the index has dropped to…

Mumbai: L&T Technology Services Limited (LTTS) has announced a partnership with artificial intelligence pioneer Databricks to enhance its engineering research and development consulting services. The subsidiary of Larsen & Toubro (L&T) aims to offer Engineering Intelligence (EI) solutions to its clients that include Process Engineering, Discrete Manufacturing and Industrial Products through this partnership. US-based Databricks has been at the forefront of the AI revolution, with its AI-enabled data analytics solutions capable of solving highly complex engineering challenges with minimal human intervention.  Through this partnership, LTTS aims to bring Databricks’ solutions to more than 600 major plants worldwide, as it looks…

Tokyo: US-based Starbucks Corporation is looking to sell its stake in its highly profitable operations in Japan, including a potential partial exit, a report by Bloomberg said. This comes after the company sold a 60% stake in its China operations to Boyu Capital while retaining ownership of its brand and intellectual property last year.  This comes at a time when the company has been facing increasing on its downline due to higher competition, supply chain disruptions and a loss of brand value. This development is expected to fit CEO Brian Niccol’s aim of restructuring its global portfolio, as the company…

New Delhi: In an indication of how FIIs have used Indian markets to cash in on the IPO-mania, global private equity giant Bain Capital has almost completed its multi-phase exit strategy from Pune-based drugmaker Emcure Pharmaceuticals Limited. Through its specialized investment vehicle BC Investments IV Ltd, the PE giant booked substantial gains after the company chose to hold on to its investments during Emcure’s IPO in 2024. Bain had invested ₹700 crore in the Namita Thapar-led company in 2013. Emcure has been a strong performer, with its Return on Capital Employed (RoCE) being in the range of 23.7%-24% and a…

New Delhi: A relatively obscure company has just become one of the biggest stock market success stories of the year. CMR Green Technologies Limited, an aluminium recycling company based out of Haryana, has seen its shares list at a 40% premium, one of the strongest in the IPO market so far.  The IPO, which ran between 3-5 June, was oversubscribed 28.92 times, with investors seeking a slice of the pure Offer For Sale (OFS) company, with 3.28 crore shares on offer.  CMR Green is an industrial leader in metal recycling, processing lead, stainless steel, copper, brass and magnesium scrap metals…

Mumbai: Mark Zuckerberg-led Meta Platforms has announced an agreement to supply nearly 1GW of renewable energy for its upcoming data center in Jamnagar. The company has signed separate agreements with Clean Max Enviro Energy Solutions Limited and Fourth Partner Energy, who will be supplying 837 MW and 88MW of power, respectively, with an option to scale up as per demand. “We are thrilled to partner with Meta. For us, that infrastructure is increasingly digital, AI-driven and interconnected. It must also be powered by clean energy. We look forward to supporting Meta’s renewable energy ambitions while contributing to India’s clean energy…

Mumbai: Leading Quick-commerce delivery player Zepto Limited has re-taken its final major step toward hitting Dalal Street after it filed its updated Draft Red Herring Prospectus (DRHP) with the SEBI on June 9. The company is aiming to raise ₹ 8,010 crore through a fresh issue along with an Offer For Sale (OFS) of 11.35 crore equity shares, allowing its venture capital partners to cash out. The company had earlier filed its IPO papers confidentially in December 2025 to raise ₹11,000 crore, with reports saying that SEBI had even approved the issue in May 2026. This time, the company has come up…

Mumbai: IT System integration provider Unified Data-Tech Solutions Limited (UDTech) has announced its follow-up order worth ₹4.24 crore from its existing client. This new contract strengthens UDTech’s footprint in the highly demanding Banking, Financial Services, and Insurance (BFSI) sector, where the company has been able to retain and expand its business with major clients.  According to the contract, UDTech will be responsible to offer AMC services for OEM infrastructure at the bank’s Hyderabad data center. With this order, the company now has a total contract valued at ₹9.84 crore with that client. This repeat business shows the customer;s confidence in…

This week marked a development that could signal the start of a stock market trend that came a quarter of a century ago. The Asian markets, particularly South Korea and Japan, known for their tech-focused stocks, saw a sudden fall after weeks of sustained rally.  For the global stock markets, this comes as an ominous sign that something could go wrong, or may go wrong, the way it did twenty-six years ago when a similar technology trend influenced investor sentiments. That same trend has repeated again, with a whole new generation of investors getting into it, many of them having…

Bengaluru: Information technology (IT) powerhouse Wipro Limited has announced the launch of a massive share buyback plan, buying back about ₹15,000 crores of shares with a price of about ₹250 per share. The offer period will open on June 11 and close by June 17, with the acceptance timeline to be communicated by June 23. Investors can submit a request for the buyback through their brokerage apps between the above dates. “The Buyback Size represents 24.99% and 19.99% of the aggregate of the Company’s fully paid-up Equity Share capital and free reserves as per the latest audited standalone and consolidated…