Nifty gained more than 1% last week as Technology and BFSI heavyweights recovered sharply after below-than- expected US inflation numbers.

Going ahead, we expect the Nifty to retain positive bias and one can keep the stop loss for long positions to be placed near 18100 levels for further up move. The open interest in index futures remained on a relatively lower side with just 1.25 million shares despite recent additions. At the same time, the high premium in Nifty has also moderated marginally suggesting ongoing positive bias. We expect limited decline in Nifty.

On the options front, the highest Put base remained at the 18,000 strike. However, with recent up move significant positions have shifted to ATM 18,200 and 18,300 strikes. Considering sharp decline in IVs, stability can be expected and downsides should be restricted. We expect the Nifty to gradually move towards 18600 levels in coming sessions.

Twitter's new owner and 'Complaint Hotline Operator' Elon Musk on Thursday raised the possibility of the social media platform going bankrupt amid the departures of more senior executives.

Musk told Twitter employees on a call that he could not rule out bankruptcy, Bloomberg News reported, two weeks after buying the company for $44 billion.

Two executives, Yoel Roth and Robin Wheeler, who moderated a Twitter Spaces chat with Musk on Wednesday as he tried to assuage advertisers' concerns, have resigned, a person close to the matter told Reuters. Roth and Wheeler did not immediately respond to requests for comment.

Godrej & Boyce Manufacturing Co, the flagship company of the Mumbai-based Godrej Group, has told the Bombay High Court in an affidavit that the Rs 264 crore given as final compensation for the Ahmedabad-Mumbai bullet train project is a fraction of the initial amount of Rs 572 crore offered earlier. "There is non-application of mind while assessing the fair market value of the land in question," the company's affidavit read. 

While refuting the Maharashtra government and National High Speed Rail Corporation Ltd's (NHSRCL) allegations of causing undue hurdles in the land acquisition process, the company called the Maharashtra government's land acquisition proceedings against it "bad in law". 

"This is demonstrably false and the record clearly establishes that any substantial delay is attributable entirely to the respondents (state and NHSRCL). It was the respondents who grossly delayed the acquisition proceedings," the affidavit noted. 

In a first for the country, India’s private defence player Kalyani Strategic Systems has bagged an export order worth $155 million (over Rs 1,200 crore) for artillery guns from an unspecified country.

In a regulatory filing, Bharat Forge, part of the Kalyani Group, said this order is for a “non-conflict zone”. The company also said the order for the 155 mm artillery gun platform is to be executed over a three-year time period.

The company did not specify which artillery system was being exported and what was the quantity. However, industry sources indicated that the order could be for a Middle Eastern nation.

Facebook parent Meta is reportedly planning one of the biggest-ever job cuts in its 18-year history. The layoffs could affect “thousands” of workers, according to a report from The Wall Street Journal. According to the WSJ, the layoffs could be harder than the mass job cuts at Twitter, which affected about half of the company’s 7,500-employee workforce. Here are some numbers that tell what is not going well for the company.