Newsletter
Blackstone bets big, MakeMyTrip packs for an IPO, and Anthropic aims sky-high.
🗓️ Morning, folks! ☀️
In Gen Z’s never-ending quest to bring back all things nostalgic, wired headphones are the latest obsession. And Sony is cashing in on the throwback, bringing back its iconic 1979 Walkman-era headphones with a modern USB-C twist.
The comeback isn’t just about looking vintage. Younger listeners are warming up to simpler, fuss-free tech that doesn’t need Bluetooth, batteries or constant charging.
Sony’s new headphones tap into that nostalgia while adding modern-day convenience, even throwing in a limited-edition Stranger Things version.
Turns out, old-school tech is having a very new-school moment.
Let’s hit it! 💪🏻
1 Big Thing: An affair shakes Nvidia’s empire 👀
Just when we thought we’d seen it all, one of the AI industry’s most influential figures is caught up in an alleged spying scandal.
What happened: Nvidia CEO and co-founder Jensen Huang admitted to an extramarital affair after reports linked him to a suspected Chinese intelligence operative. Nvidia’s board has launched an independent investigation into whether he was targeted by a foreign intelligence effort.
In a message to employees, Huang apologised to his wife and children, saying: “There is no excuse for what I did. I am deeply sorry.”
Neither Huang nor Nvidia publicly named his affair partner. The New York Times identified her as Alice Huang, an unrelated Chinese businesswoman whom US authorities reportedly assessed to be a Chinese intelligence asset. China has dismissed the allegations as a smear.
The business connection: Alice Huang previously worked at Singapore-based Megaspeed, which buys Nvidia chips. US authorities have scrutinised the company over suspicions that it helped Chinese customers access advanced chips restricted by US export controls.
Nvidia maintains that concerns about chip diversion were investigated and debunked.
The market reaction: Nvidia shares fell further on Tuesday, putting the chipmaker on course to lose about $400 billion in market value across two trading sessions.
Why it matters: Nvidia supplies the chips powering much of the AI boom, placing it at the centre of the technology rivalry between Washington and Beijing. The allegations raise questions about whether sensitive information could have been exposed.
However, Nvidia’s board says it currently has no reason to believe that US national security or company secrets were compromised.
What’s next: Huang will continue leading Nvidia during the investigation. The board has expressed confidence in him and his leadership team, while Huang has pledged to cooperate fully with the review.
2. Blackstone’s ₹5,000 crore financial bet 💸
Global investment firm Blackstone will acquire a 15.57% stake in IIFL Finance for about ₹5,000 crore as part of a ₹6,414 crore capital raise.
The why: the deal deepens Blackstone’s presence in India’s financial sector as global investors increasingly seek exposure to the country’s fast-growing economy.
The money will give IIFL Finance more room to lend and a bigger cushion against losses. Based on September 2026 figures, its financial safety buffer would rise from around 17% to 30%.
The stronger capital base is expected to support business expansion, improve credit ratings and reduce borrowing costs over time.
For Blackstone, the deal provides access to a large retail lending platform in India’s growing non-banking finance sector. IIFL Finance plans to use the funds to expand its secured lending businesses, particularly gold finance.
The big picture: other recent deals include Canada’s Fairfax Financial Holdings’ proposed acquisition of a 60.72% stake in IDBI Bank and Bank of America’s purchase of a 49.9% stake in Jio Financial Services’ non-bank lending arm.
Japan’s MUFG has also invested in Shriram Finance, while Dubai-based Emirates NBD has purchased a 60% stake in RBL Bank.
3. Dalal street ready 💪
Online travel platform MakeMyTrip’s India arm, MMT India, has received SEBI’s approval for an IPO.
The details: the IPO will consist entirely of existing shares sold by MakeMyTrip and its wholly owned subsidiary, ibibo Group Holdings (Singapore). This means the proceeds will go to the selling shareholders.
MMT India will remain a MakeMyTrip subsidiary after the listing, and its financial results will continue to be included in the parent company’s accounts.
Why list: MakeMyTrip expects the listing to boost its brand visibility and help its India arm attract and retain employees in a competitive technology job market.
The parent company plans to use the proceeds to strengthen its cash reserves, fund future growth and acquisitions, and buy back some of its existing securities.
Key financials: MakeMyTrip returned to profit in Q2 FY27, reporting a consolidated net profit of $1.8 million, compared with a $5.7 million loss a year earlier. Revenue rose 2.5% to $235.2 million, from $229.3 million in Q2 FY26.
4. Stocks that kept us interested 🚀
What went up ⬆️
🔥 NSE hit a post-listing high, extending gains for four days and pushing market capitalisation past $50 billion.
🚀 Symbiotec Pharmalabs surged nearly 20% to a post-listing high after securing a decade-long agreement with a European alternative-protein innovator.
😮💨 M&M rose 5% after it reported a 24.9% YoY rise in consolidated Q2 net profit to ₹4,587.88 crore.
💪🏻 Titan jumped over 3% after it reported a 114% profit jump to ₹2,393 crore, beating estimates as higher-margin diamond-studded jewellery boosted profitability despite slower growth.
What went down ⬇️
😞 Bosch fell 4% after announcing a stock split, bonus issue and 18.6% profit growth to ₹839.4 crore in Q2.
👎🏻 Astral plunged over 9% after Q2 net profit fell 5.6% YoY to ₹127.30 crore.
🫣 Fortis tumbled over 6% as management warned hospital EBITDA margins would remain pressured for the rest of FY27.
What else are we snackin’ 🍿
🚦Green signal: Veritas Finance gets SEBI’s IPO nod to raise ₹900 crore, with existing investors also selling up to 1.28 crore shares.
🫣 Pink slips: PepsiCo will lay off around 1,000 North American food and beverage employees within a week to streamline its regional operations.
🤑 Big money: Anthropic targets a $1.4 trillion valuation, aiming to raise $90.4 billion through its initial public offering and a private placement.
That’s a wrap! Don’t let the weekday blues get to you.
And if you’d like to place your brand on this newsletter, let us know.
Hit that 💚 if you liked this issue.
Disclaimer: this newsletter is for informational and research purposes only. Nothing here should be considered financial, investment, legal, or professional advice.
