Author: Abizar Attari
News Editor

Mumbai: India’s leading electrical cable manufacturer, Polycab India Limited, has seen a blockbuster 32% rise in net profit to hit ₹2,708 crore, with the sustained real estate demand boosting revenues. This is reflected in the company’s market share, which has surged from about 18% in FY2018-19 to about 30-31% in FY2025-26. Polycab has also benefited from the increasing preference of sustainable electrical infrastructure, as the company scales its presence in the Fast Moving Electrical Goods (FMEG) segment. Polycab has also been working to enhance its manufacturing facilities through its Project Spring initiative, where the company is working to redefine its…

Mumbai: Fredun Pharmaceuticals Limited has delivered a 40% rise in its annual net profit at ₹33.20 crore from ₹20.03 crore reported last year, thanks to the company’s focus on improving its operational efficiencies and strengthening its balance sheet. During the year, the company reported a 28.67% rise in revenues from ₹451.70 crore in FY2025 to ₹633.32 crore in FY26 as the company upgraded its manufacturing plants while negotiating better prices for its raw medicine ingredients and optimizing its supply chains. It has also worked to reduce its internal production costs during the year. Besides this, the company launched its first…

Seoul: The unstoppable rally in artificial intelligence (AI) stocks has started to end, with tech focused Asian markets in South Korea and Taiwan declining due to a decline in AI- and tech-related stocks. This sudden downturn has seen investors scrambling to pull out of high flying technology giants, as they raise questions about the massive AI boom starting to lose steam. On opening, South Korea’s Kospi index plunged nearly 9%, forcing a halt in trading due to the circuit breaker mechanism. Similarly, Japan’s Nikkei 225 index also fell by 4.5% as shares of major tech companies fell. Among the companies,…

Hyderabad: Sigma Advanced Systems Limited has announced a major contract win to supply 40,000 artillery shell bodies worth about $21.97 million (about ₹184 crore). The contract will be executed over a six-month period, with deliveries and production scheduled to be completed within this timeframe. This order marks a new milestone for Sigma Advanced Systems, as it has moved from a fuze manufacturer to a complete artillery shell component manufacturer. It highlights the company’s commitment to ffer end to end engineering and precision manufacturing expertise. The project involves supplying 155 mm artillery shell bodies, a critical structural component that is used…

Ahmedabad: Adani Ports and SEZ Limited (APSEZ) has won a 10 year contract to export Liquified Natural Gas (LNG) from Argentina to India through its JV subsidiary, Meridian Transportes Marítimos S.A. Under the contract, APSEZ will provide end to end marine services, including tugboat operations for LNG carriers, offshore logistics and crew transfer services. This will be supported by four high specification tugboats, including one anchor handling tug supply vessel. This is the first time India will import LNG from Argentina, with a 10 year contract to commence from 2027. It was awarded by a globally competitive tender process by…

With the world’s hopes and aspirations squarely on the public issues for OpenAI, SpaceX and Anthropic, the global markets have seen similar instances where highly successful companies or those with highly promising growth prospects have seen unprecedented interest.  Though some of these issues have been nothing short of a long term lottery ticket for some, many companies have failed to live up to the promises, and have taken way longer to recover from the hype (or not at all). Before you plan to subscribe, check out how these IPOs have fared, and why their growth prospects should be taken with…

Gurugram: Google India is significantly increasing its presence in the National Capital Region by signing another lease for a new 6.17 lakh sq ft office in Gurugram. According to the property transaction documents from Propstack, Google has signed a 5 year lease at Atrium Place, Sector 39 in Gurugram for a monthly rent of about ₹10.55 crore. The lease rate for the transaction comes to about ₹171 per square foot, with the company depositing about ₹63.65 crore as security. According to the rent documents, the lease includes a 15% escalation every three years. The lease, which commenced on October 1,…

New Delhi: The Reserve Bank of India (RBI) has confirmed it will be enforcing stricter lending norms for stock trading financing from July 1 as they look to discourage unrestricted futures and options(F&O)  trading by novice traders. According to the proposed rules, brands will be prohibited from further fromi lending for proprietary trading and require 100% collateral for other funding to brokers. This could have a direct impact on the stock broking business, with these rules estimated to reduce trading volumes by 20% after implementation. “Domestic proprietary trading firms fear that their business model has been rendered obsolete,” a spokesperson…

Elon Musk’s rocket and satellite company, SpaceX, is all set to go public on Wall Street on June 12, with 555.6 million shares worth $75 billion on offer. Besides this, the underwriters have an additional option to purchase 83.33 million shares, amounting to $11.2 billion. Despite this, Elon Musk will continue to own over 82% of the company’s voting control after the issue. This issue is marked by an unusual rule of the share price being capped at $135 per share. Under standard Wall Street convention, share prices are adjusted by the underwriters as per demand, with the shares being…

In a development that strengthens SpaceX’s bid for an IPO, long time SpaceX backer Google has signed an agreement to use SpaceX’s data centers for computing access. The deal, where Google will pay SpaceX $920 million per month to start with, is aimed at using SpaceX’s vast computing resources, including its 110,000 GPUs and other computing infrastructure in its data center. The reasons behind the deal On the face of it, it might seem strange that Google, which already has its own computing infrastructure, is using SpaceX’s for computing access, but the fact remains that SpaceX has a ready-to-use data…