Sector News

The Nifty IT index fell 2.01% to 27,072.40 as of 12:30 PM on Tuesday, emerging as one of the worst-performing sectoral indices. Selling was broad-based across technology stocks, with Infosys, TCS, Wipro, LTIMindtree and HCLTech among the major losers. The decline comes amid continued weakness in global technology shares and follows a sharp correction in the sector over the past week.

The USFDA has approached Indian drugmakers through IDMA to help address a shortage of cancer drug ifosfamide in the US. This can create potential supply opportunities for India's pharmaceutical industry.

NARCL plans acquisitions beyond its sovereign guarantee model, targeting smaller stressed assets as recoveries improve. The bad bank has acquired ₹1.66 lakh crore of debt so far. Read more.

Tata Motors has lined up more than 3,400 electric commercial vehicle orders, led by about 2,000 small commercial vehicles, along with nearly 900 trucks and 500 buses.

Infosys and Wipro ADRs fell sharply on the NYSE after Accenture cut its annual revenue growth guidance, raising concerns over near-term IT spending, weaker deal bookings, and slower industry growth.

Reliance Jio plans a 1,650-satellite low Earth orbit constellation at a cost of $10 to $15 billion to offer broadband and direct-to-device services, making it the first Indian Starlink challenger.

Around 10 firms, including HAL, Tata, L&T and Adani Defence, have submitted bids for a ₹30,000 crore Indian Air Force contract to procure 87 medium-altitude long-endurance unmanned aerial vehicles. The order will be split between the lowest two bidders to establish two production lines. Read ahead to know more.

ONGC Videsh is reviewing plans to restart its Venezuela operations as the country opens its oil sector to greater foreign participation. The move comes even as the company awaits more than $900 million in pending dividend dues.

Fuel losses for oil retailers have fallen sharply after recent price hikes. Petrol under-recoveries dropped 83% to ₹3 per litre, and diesel losses declined 75% to ₹27 per litre.

Adani Enterprises and Jabil plan a vertically integrated AI infrastructure manufacturing platform in India, targeting a $3 trillion market opportunity and supporting India's projected 5-8 GW data centre capacity by 2030.

Amazon's two-wheeler sales doubled year-on-year due to strong demand for premium and electric vehicles, as well as from first-time buyers in over 2,300 smaller towns.

Tata Consultancy Services has announced a global strategic partnership with Anthropic to expand enterprise AI adoption, setting up a dedicated business unit and deploying Claude across 50,000 TCS employees. The partnership will target highly regulated industries including financial services, healthcare and life sciences. Read ahead to know more.