Mumbai: Battered shares of Information Technology companies advanced on Tuesday for the third straight trading session, as a weakening rupee lifted sentiment, offsetting recent concerns over AI-related disruptions.

The Nifty IT index jumped 3.2% on Tuesday and clocked 7% gains in three sessions, signalling a turnaround after a prolonged bout of downsides. The benchmark Nifty, which ended 0.1% lower, is down 0.3% in the past three days.

Coforge, Infosys and LTM (erstwhile LTI Mindtree) gained 4-5% on Tuesday, while other constituents were up between 1.7% and 3.2%.

“The rupee hitting fresh lows has improved sentiment around IT companies, as it could lead to a 150-200 basis point improvement in their margins,” said Anshul Jethi, research analyst, LKP Securities.

The rupee made a record low of 96.61 against the dollar on Tuesday.

As software services exporters earn most of their revenues in US dollars, a weaker rupee against the dollar boosts their margins.
According to Sushovon Nayak, research analyst at Anand Rathi Institutional Equities, recent developments such as the Globant management highlighting the importance of IT services firms in AI implementation, Cognizant increasing its buyback size, and some weakness in leveraged US AI-infrastructure stocks on the back of higher US bond yields, have improved investor sentiment towards the IT sector. The Nifty IT index is down nearly 23% this year, against Nifty 50’s fall of 9.7%, as the launch of new AI tools, aimed at increasing productivity, is perceived to be a threat to the business of traditional IT services providers.

Investors may have overreacted to concerns around AI taking the place of traditional software systems, said analysts.

“Our recent interactions with TCS management suggest that nearly 95% of enterprises still operate on legacy models and have yet to meaningfully adopt AI, indicating growth opportunity for the sector remains,” said Sumit Pokharna, vice-president – fundamental research, at Kotak Securities.

“However, part of the cost benefits to these firms from AI is likely to be passed on to clients, which may lead to revenue deflation,” he said.

The sharp recovery in the past three sessions comes as valuations of top Indian software exporters fall to the levels seen in the global financial crisis in 2008-09. Tata Consultancy Services (TCS), Infosys, HCL Technologies and Wipro are trading at trailing price-earnings (P/E) multiples between 15 and 18, the lower end of the spectrum, indicating lower-than-average valuations.

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The rebound may continue, but it will be marked by sharp swings amid intermittent concerns around AI product launches.

“We expect a J-curve recovery in IT revenues going ahead,” said Nayak. He likes LTM, Tech Mahindra and Infosys amongst the large caps, and prefers Mphasis and Persistent Systems in the mid-cap IT space.

Pokharna said large-cap IT valuations remain attractive, and he maintains a positive view on TCS, Infosys and Tech Mahindra.

“While LLM companies may disrupt market shares of traditional IT players and FY27 could remain challenging for the sector, AI adoption could improve their productivity,” said Jethi, who is positive on Persistent Systems and HCL Technologies. “Valuations in the sector have also turned attractive enough for investors to take a contrarian view on the AI theme.”

More than 113,000 electric kettles sold at Costco and HomeGoods have been recalled after reports that the handles can detach and spill hot water, including one reported second-degree burn, according to the Consumer Product Safety Commission (CPSC).

The recall, announced May 14, involves ZWILLING J. A. Henckels Aktiengesellschaft Enfinigy Kettle and Enfinigy Kettle Pro electric stainless-steel kettles after reports of the handles loosening and separating, posing a risk of serious injury due to a burn hazard.

About 113,440 kettles were recalled in the United States, according to the CPSC report. An additional 43,963 were sold in Canada and 48 were sold in Mexico.

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The firm received 163 reports of kettle handles loosening or separating, including five incidents involving handle separation and one reported second-degree burn.

The affected kettles can be identified by model numbers 53101-200 and 53101-201 for the 1.5L ENFINIGY Electric Kettle, and 53101-500, 53101-501, 53101-502, 53101-503 and 53101-504 for the 1.5L ENFINIGY Electric Kettle Pro. 

The model numbers and “ZWILLING” branding can be found on the bottom of the kettle and the power base.

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The electric stainless-steel kettles came in several colors, including black, silver, rose gold and white, according to the recall notice. ZWILLING branding appears on the kettle itself.

The kettles were sold at Costco, HomeGoods stores nationwide and online at zwilling.com from December 2019 through February 2026 for between $120 and $200.

Customers are urged to stop using the kettles immediately and to contact the brand in exchange for a full refund.

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Consumers in the U.S. should also visit the brand’s website for instructions before disposing of the recalled product, including unplugging the kettle, cutting the cord and uploading a photo of it.

A representative for Costco did not immediately respond to FOX Business’ request for comment.

Sir Martin Narey, the former head of the Prison and Probation Services in England and Wales who brought the complaint about the adverts, said: “I thought they were frightening young women and terrifying their parents by exaggerating the likelihood of being raped.”

Leaving crypto in an earn account feels risky, at least at first glance. That instinct is understandable, given the industry’s history.

But it is also worth examining whether that instinct holds up under scrutiny, because the landscape has changed considerably over the past few years, and modern earn products on reputable platforms are built very differently from the structures that failed.

Products like CoinEx Flexible Savings are designed with transparency and liquidity at the forefront. Interest is generated by real borrowing demand, assets are fully backed by verified reserves, and users can redeem at any time without penalty. That combination addresses most of the concerns that made earlier earn products feel precarious.

Why Earn Accounts Have a Better Safety Record Than the Headlines Suggest?

The high-profile collapses that shook the industry between 2022 and 2023 were not failures of the earn account model itself. They were failures of governance, transparency, and asset management. Platforms that commingled user funds, operated without reserves, and obscured their financial position created the conditions for collapse. Those failures were real, and the damage to retail investors was serious.

What followed, however, was a significant industry-wide reckoning. Exchanges that had operated with limited accountability began facing pressure to publish verifiable reserve data. Those that already maintained full reserves and robust security infrastructure were able to demonstrate exactly why their earn products operated differently. The distinction between well-governed platforms and poorly governed ones became much clearer.

Proof of Reserves Changed the Conversation

Proof-of-reserves verification allows any user to confirm that the funds they see in their account are genuinely held by the platform. Exchanges that publish this data regularly and submit to third-party audits are making a quantifiable commitment rather than a marketing claim. That level of transparency is increasingly becoming the baseline expectation.

For users considering earn accounts, the presence of verified reserve data is one of the most meaningful signals available. It indicates the platform is not lending out user deposits beyond its capacity to cover withdrawals, which was the core mechanism behind the industry failures that generated the most public concern.

What Makes Earn Products Low Risk in Practice

• Flexible vs. Fixed Products

Flexible earn products allow instant subscription and redemption. Users can exit at any time, without notice periods or penalties, which limits their exposure to the duration they actively choose.

Fixed-term products typically offer higher yields in exchange for a commitment period. Users accept a longer window of platform exposure for a better rate. Both can be reasonable choices, but flexible products give conservative users the most direct control over their risk.

Sustainable earn yields come from lending to margin traders and borrowers on the same platform. Those borrowers pay interest, and the platform distributes a portion of that interest to savings depositors.

Because the yield is tied to genuine borrowing demand, rates fluctuate with market activity rather than staying artificially elevated. This is a meaningful indicator of a well-structured product. Rates that are consistently far above market norms, with no clear explanation for where the return comes from, warrant closer scrutiny.

Security Infrastructure on Modern Platforms

A well-operated exchange does not store all user assets in a single accessible location. Standard security architecture involves cold storage for the majority of holdings, with a smaller portion in hot wallets to handle withdrawals efficiently. Multi-signature protocols, physical system isolation, and real-time monitoring systems add further layers of protection against internal and external threats.

Platforms that have operated for many years without a major security incident have demonstrated something that newer entrants simply cannot offer: a track record. Longevity in the crypto exchange space, combined with growing user numbers and transaction volume, is evidence that the underlying infrastructure is functioning reliably under real-world conditions.

How to Use Earn Accounts Responsibly

The most sensible approach treats an earn account as one component of a broader allocation strategy rather than a passive storage solution. Keeping a portion of idle assets in a flexible earn product while maintaining personal custody of long-term holdings offers a balance between earning yield and limiting platform exposure.

Checking reserve publications periodically, paying attention to platform communications during periods of market volatility, and diversifying across multiple platforms for larger holdings are straightforward habits that reduce concentrated risk without requiring any technical expertise.

The Bigger Picture

Exchange earn accounts, when offered by transparent, well-capitalised platforms with verified reserves and strong security infrastructure, represent a genuinely useful tool for crypto holders. The risks that once made these products feel precarious have been substantially addressed by the generation of platforms that prioritise accountability. For investors who understand what they are using and choose their platform carefully, earning yield on idle crypto assets is a reasonable strategy.

One of America’s once-dominant beer brands is being discontinued after more than 175 years.

Schlitz Premium, a beer brand that traces its roots to Milwaukee in the 1840s and was once among the largest breweries in the country, is being put “on hiatus,” parent company Pabst Brewing Co. confirmed Friday after Wisconsin Brewing Company announced it would brew the brand’s final batch later this month.

“Unfortunately, we have seen continued increases in our costs to store and ship certain products and have had to make the tough choice to place Schlitz Premium on hiatus,” Zac Nadile, Pabst head of brand strategy, said in a statement to Milwaukee Magazine.

“Any brand or packaging configuration that is put on hiatus is still a cherished part of our history and hopefully our future. We continually look for opportunities to bring back beloved brands, and customer feedback is important in shaping those discussions.”

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The Schlitz brand became famous for its longtime slogan, “the beer that made Milwaukee famous,” and was once the nation’s largest brewery before Anheuser-Busch overtook it in the late 1950s.

The company was originally founded in 1849 after August Krug opened a tavern brewery in Milwaukee. Joseph Schlitz later took over the business after marrying Krug’s widow and helped transform it into one of the world’s largest beer brands.

Schlitz rose to prominence after the Great Chicago Fire in 1871, when the brewery shipped beer to Chicago as residents struggled to access clean drinking water.

“It’s a nostalgia factor,” Joseph Conforti, general manager of Milwaukee Brat House, told ABC7 Chicago. “People from out of town are surprised that they still make it.”

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Schlitz began losing popularity in the 1970s after cost-cutting recipe changes altered the beer’s flavor. The brand was later sold to Stroh Brewing in 1982 before Pabst acquired it in 1999.

Kirby Nelson, brewmaster at Wisconsin Brewing Company, said the company wanted to give the historic beer brand a proper farewell after learning production was ending.

“We decided that, Schlitz being what Schlitz was, it deserved a proper sendoff. One with dignity and respect,” Nelson said.

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Wisconsin Brewing Company said it plans to brew “the last Schlitz” at its Verona, Wisconsin, brewery on May 23, with a limited release scheduled for June 27. Milwaukee-area bars and breweries are also planning farewell events tied to the final batches.

Representatives for Schlitz and Pabst Brewing Co. did not immediately respond to FOX Business’ request for comment.