Newsletter
India takes a seat at global AI table, Bosch-Tata go big on EVs, and Jio Platforms IPO.
🗓️ Morning, folks! ☀️
Markets had a solid day, with both the Sensex and Nifty closing nearly 1% higher, marking their third straight day of gains. A slight dip in crude oil prices and positive global cues gave investors enough confidence to keep buying.
Looking at sectors, IT stocks stole the spotlight. Names like Coforge, Tech Mahindra, and Persistent Systems led the rally. But it wasn’t all green. Metal stocks lagged behind in an otherwise upbeat market.
💡 Spotlight: flying soon? Most seats may now be free to choose ✈️
The government on Wednesday said airlines have been asked not to charge extra for 60% of seats on domestic flights.
The aviation regulator, DGCA, has issued this direction to make seat selection fairer and more accessible for passengers.
Civil Aviation Minister K Rammohan Naidu also said more steps are being taken to improve passenger experience and protect flyer rights.
Right now, only about 20% of seats are free, while the rest require payment. The new rules, applicable to domestic flights, come amid rising complaints about high extra charges, including for seat selection.
Officials also said there will be stricter enforcement and better awareness of passenger rights, especially during delays and cancellations.
Let’s hit it! 💪🏻
1 Big Thing: India joins global push for AI 🤖
Nvidia has launched the Nemotron Coalition, bringing together top AI players to build the next generation of open, frontier AI models.
What’s happening: this coalition includes names like Sarvam AI (India), Mistral AI, Perplexity, LangChain, and Mira Murati’s Thinking Machines Lab.
The goal is to pool data, compute, and expertise to build powerful AI models that are open and customisable, not locked inside closed systems.
The first outcome is a base AI model built by Nvidia and Mistral, trained on Nvidia’s DGX Cloud, which companies can tweak for specific industries, regions, or use-cases.
The why: right now, the AI race is dominated by a few closed models. Nvidia is pushing a different approach, open models that more developers, startups, and countries can build on.
Each partner brings something unique like Sarvam AI will focus on India’s languages and voice-first AI.
There’s a growing push toward ‘sovereign AI’, models like Bhashini & Krutrim, that are trained on local languages, data, and cultural context. In India, local language support is critical to reach last-mile users, especially in rural areas where English is not widely used.
2. EV race heats up ⬆️
Bosch is teaming up with Tata Autocomp Systems to tap into India’s fast-growing EV market, and this move could shape how electric vehicles are built locally.
What’s poppin’: the two are setting up a 50:50 joint venture in Pune to manufacture e-axles and electric traction motors, key components that power EVs and replace traditional engines and gear systems.
The aim is to localise production and reduce dependence on imports. Bosch brings global expertise in EV technology and software, while Tata Autocomp adds strong manufacturing capabilities and close ties with major automakers.
And the timing works in their favour. EV demand is rising, with around 30 new models expected soon, nearly double last year’s number, according to Jato Dynamics.
3. Varun Beverages bets big on dairy 🥛
Varun Beverages is making some interesting moves in South Africa, and it’s clearly not stopping at soft drinks anymore.
So, what’s happening: the company’s arm has picked up a 100% stake in Crickley Dairy Proprietary, a privately owned dairy business known for its quality milk products.
Varun Beverages wants to grow beyond fizzy drinks and tap into areas like value-added dairy and juice-based beverages, segments that are seeing rising demand.
In December, the company, PepsiCo’s largest franchise bottler, announced plans to fully acquire South Africa’s Twizza through BevCo.
Even before that, in March 2024, it had acquired The Beverage Company (BevCo) and its subsidiaries. That deal helped strengthen its presence across South Africa, Lesotho, and Eswatini, while also giving it distribution access to markets like Namibia, Botswana, Mozambique, and Madagascar.
Market check: the company’s shares rose 2%. This comes after Varun Beverages stock had hit a 52-week low last week, following monthly losses in both January and February.
While we are on acquisitions 💸,
Strides Pharma is also stepping up its Africa play, and it’s doing it with a strong global partnership.
The deets: through its step-down subsidiary, Strides Pharma International AG (SPIAG), the company will acquire and in-license portfolio of branded generic products from Sandoz AG across Sub-Saharan Africa.
Simply put, Strides is gaining both the products and the rights to sell them in key markets.
4. Who really powers India’s gig economy? 🛵
India’s gig economy is scaling fast, and platforms like Rapido (~17 lakh workers), Uber (~14 lakh), Swiggy (~6.87 lakh), and Zomato (~5.67 lakh) are leading the charge.
What was once side-income work has now become a full-fledged employment engine, especially in urban India. The sheer scale shows how app-based platforms are quietly becoming some of the country’s largest job creators.
But here’s the catch, nearly 98% of gig workers earn under ₹5 lakh a year. So while opportunities are growing rapidly, incomes remain tight. The sector reflects a classic India story: massive scale and access, but still grappling with stability, earnings quality, and long-term security for workers.
5. Stocks that kept us interested 🚀
What’s up ⬆️
👕 Mafatlal Industries ended 7% higher after the company secured an order worth around ₹114 crore from the Odisha Computer Application Centre for robotic laboratories across schools in the state.
🛠️ Urban Company surged 10% after SBI Mutual Fund increased its stake in the company by buying shares in a block deal.
🔌 Jaiprakash Power jumped 7% after the NCLT approved Adani Ent’s ₹14,535-crore bid to acquire Jaiprakash Associates Ltd through the insolvency process.
💳 Axis Bank gained 2% after the lender said it will invest ₹1,500 crore in its consumer lending arm, Axis Finance.
🎬 PVR INOX ended with 2% gains ahead of Dhurandhar 2 release. The movie’s advance bookings crossed ₹200 crore.
What’s down ⬇️
🔄 MCX fell more than 2% after an NSE official announced the stock exchange has launched gold 10 gm futures contracts and that gold coins can be delivered at home.
🔩 DEE Development slipped 10% after the conflict in the Middle East impacted export orders to the region due to disruptions in the Strait of Hormuz.
What else are we snackin’ 🍿
🤝 AI learning: TCS and Pearson signed a multi-year deal to build AI-powered learning solutions, aiming to bridge skill gaps and boost workforce readiness.
📡 Jio IPO: Reliance is preparing for a potential record-breaking IPO of Jio Platforms, with filings expected soon and 17 bankers already onboard.
That’s a wrap! Don’t let the weekday blues get to you.
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