Deepinder out, Albinder in

AI race heats up, Sony set to exit TV business, and Apple Pay eyes India.

🗓️ Morning, folks! ☀️

No relief for the markets. 🙆🏼‍♀️

It fell after a choppy, up-and-down session, and the pain was sharper in the broader market where selling pressure was heavier.

The Nifty slipped below 25,200, while the Sensex fell 271 points. Sector-wise, it was a mixed bag.

In global news, 📰

At Davos 2026, US President Donald Trump revived his Greenland pitch, and he did not mince words.

He said the US needs “ownership” of Greenland, arguing it is something America “had,” and mocked the idea of settling for a “lease,” asking why anyone would want to defend that.

He also tried to lower the temperature, saying he would not use force. “I won’t use force,” he said, calling it the “big statement” he wanted to make. More on this

💡 Spotlight: AI folks coming for cricket 🏏

The BCCI has landed a three-year sponsorship deal worth ₹270 crore from Gemini, Google’s AI platform, ahead of the IPL 2026 season.

What makes it even more interesting is the AI face-off brewing in the background.

ChatGPT, Gemini’s rival, is already a sponsor of the ongoing Women’s Premier League, so this is starting to look less like simple branding and more like a turf war, played out on the biggest cricket stage.

Honestly, the message is clear: when it comes to reach, eyeballs, and buzz, the IPL is not just a tournament anymore.

Let’s hit it! 🏏

1 Big Thing: Eternal gets a new CEO ⚡️

Eternal, the parent of Zomato, posted strong Q3 numbers, led largely by Blinkit and the quick-commerce boom.

Here are the key figures:

Net profit: up 73% YoY to ₹102 crore vs ₹59 crore
Revenue: up 201% YoY to ₹16,315 crore vs ₹5,405 crore

Blinkit stole the spotlight. Its income jumped nearly 8x to ₹12,256 crore in Q3 FY26, up from ₹1,399 crore a year ago, as more Indians leaned into instant delivery for everyday essentials.

But wait, something else happened too…

Deepinder Goyal stepped down as MD and CEO and is proposed to become Vice Chairman and Director.

Blinkit CEO Albinder Dhindsa has been named the new MD and CEO of Eternal, which is a twist considering Deepinder had reportedly asked him to step down twice after the Blinkit acquisition.

2. Sony hands TV business to TCL 📺

Sony is stepping back from the day-to-day business of making TVs and handing more control to Chinese electronics giant TCL.

TCL has built a strong global footprint as a budget TV player, especially in the US, and has previously licensed brands like BlackBerry and Alcatel for mobile devices.

Sony and TCL have signed a deal to form a new joint venture that will take over Sony’s home entertainment business, including televisions and home audio gear.

What does it mean for you: future TVs will still carry the Sony and BRAVIA branding. It could also mark the end of an era for Sony, and open the door to more competitively priced Bravia TVs, combining Sony’s image processing with TCL’s manufacturing scale.

3. Zydus eyes US firm Ardelyx 💰

Zydus Lifesciences may be lining up its biggest overseas move yet.

The deets: the company is evaluating the acquisition of a majority stake in US-based Ardelyx Inc., with the deal expected to be valued at around $2.2-2.5 billion.

So, what does Ardelyx do: In simple terms, it makes newer medicines for gut-related conditions and kidney and heart-linked diseases.

If this goes through, it would strengthen Zydus’s push into innovative medicines, a space Indian drugmakers are increasingly chasing as they look beyond the crowded generics market.

4. Venture street goes all-in 💪🏻

Voice AI startup Ringg AI has raised $5.5 million in a Series A round led by Arkam Ventures.

Founded in October 2023, it is building a no-code, multilingual voice AI platform that lets enterprises create and run voice agents for support calls and sales follow-ups.

The funding will go toward hiring, faster product development, global expansion, and building GPU clusters.

While we are on fundraises,

Voice AI startup Bolna has landed $6.3 million in a seed round led by General Catalyst. It aims to scale teams, invest in vernacular voice AI, and strengthen infrastructure for large rollouts.

*Tracxn (Data for Voice AI funding in India)*

5. The Warner Bros. battle heats up more 🔥

Netflix has revised its plan to buy Warner Bros. film studio, shifting from a $72 billion cash-and-stock deal to an all-cash offer.

What is happening: earlier, shareholders were set to receive $23.2 in cash plus $4.5 in Netflix stock per share.

Under the new terms, Netflix will pay $27.7 for each Warner Bros. Discovery share entirely in cash, removing stock from the equation.

This change lifts the total transaction value to about $83 billion, reflecting the higher cash payout, a simpler structure and faster approvals.

The future plans: Warner Bros. Discovery (WBD) has asked its shareholders for approval to go ahead with the Netflix deal by filing paperwork with the US regulator.

If the deal happens, WBD’s cable TV businesses will be split off into a new, separate company called Discovery Global, which will be listed on the stock market.

Silver is having a moment, and investors are clearly paying attention.

With silver prices up over 170% this year and hitting record highs in India, money is flowing rapidly into silver ETFs.

The surge reflects a mix of momentum chasing, diversification plays, and growing comfort with ETFs as a way to ride commodity rallies without holding physical silver.

1. A tale of two stocks 🧐

Shares of Baazar Style Retail fell as much as 8%, while Cupid slid up to 6.6% after Cupid agreed to invest in the retail chain through convertible warrants.

This is the same Cupid that has been a market favourite, delivering 300%+ returns on the back of many growth plans. It is best known for its sexual wellness portfolio.

In simple terms, Cupid is putting money in now, and these warrants can later convert into shares.

So why did the stocks fall: investors may be worried that when the warrants turn into shares, Baazar Style Retail will have more shares in the market, which can reduce the value of each share.

Cupid’s stock likely fell because investors are unsure about why it’s putting money into a retail chain? That, we think is a very reasonable question.

2. Lupin expands diabetes drug play 🤝

Lupin’s subsidiary, Lupin Atlantis Holdings SA, has entered into a licensing and supply agreement with Galenicum Health.

Galenicum Health is a Barcelona-based pharmaceutical company founded in 2003. It works across the full pharma value chain, from R&D to manufacturing and commercialisation, and focuses on developing and supplying high-quality and affordable medicines.

Semaglutide, the active drug in Ozempic, is an anti-diabetic medication used for the treatment of type 2 diabetes, and an anti-obesity medication used for long-term weight management.

The deets: as per the agreement, Galenicum will handle the development, manufacturing, and supply of Semaglutide. Lupin will manage regulatory approvals, commercialisation, and distribution across 23 countries.

What else are we snackin’ 🍿

📱Apple pay: Apple is in talks with Indian regulators and banks to bring Apple Pay to India, though a full rollout is likely only in 2026.

💄Tech hub: L’Oréal will set up its first global Tech Hub in Hyderabad with a ₹3,500 crore investment, marking its debut Beauty Tech centre worldwide.

🛡️Strategic ties: India and Namibia agreed to deepen cooperation in defence and critical minerals, while reviewing broader ties across trade, health, education, and investment.

🛢️Oil relief: India’s oil import bill fell 8.5% in December as lower global crude prices eased costs amid oversupply and weak demand.

🤖AI push: Energy transition firm AM Group is planning a $25 billion investment to set up a 1GW AI infrastructure hub in Greater Noida.

That’s a wrap! Don’t let the weekday blues get to you.

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