Paytm parent One 97 Communications witnessed Rs 964 crore worth of block deals on Friday, with institutional investors including Societe Generale, Ghisallo Master Fund, Viridian Asia Opportunities Master Fund and Nippon India Mutual Fund emerging as key buyers, while existing shareholders SAIF Partners India IV Limited, Elevation Capital V Limited and SAIF III Mauritius Company Limited pared their stakes.

According to block deal data on the exchanges, Societe Generale picked up nearly 18.87 lakh shares worth around Rs 211.46 crore at a price of Rs 1,120.65 apiece, making it the single largest buyer in the transaction.

Hedge funds Ghisallo Master Fund LP and Viridian Asia Opportunities Master Fund separately purchased 12.8 lakh shares each for about Rs 143.44 crore apiece.

Among domestic institutional investors, Nippon India Mutual Fund acquired 11.11 lakh shares worth Rs 124.5 crore, while Sundaram Mutual Fund bought 3 lakh shares valued at Rs 33.62 crore. Edelweiss Mutual Fund also participated in the transaction by purchasing shares worth nearly Rs 37.5 crore.

Other prominent buyers included BNP Paribas Arbitrage, Goldman Sachs Bank Europe SE, Citigroup Global Markets Mauritius, Citigroup Global Markets Singapore and Copthall Mauritius Investment.

The shares changed hands at Rs 1,120.65 each, implying a total transaction size of about Rs 964 crore.
Paytm shares fell sharply on Friday, settling with declines of 3.74% or Rs 43.20 at Rs 1,112.40. Global investment bank Citi has reportedly been appointed as the placement agent for the transaction.As per the shareholding data available on the BSE, SAIF Partners held shares in One 97 Communications through its affiliates Saif Partners India Iv Limited and Saif Iii Mauritius Company Limited. While the former held over 2.56 crore shares as on March 31, that represented 4% stake, the latter held over 6 crore share accounting for 9.43% equity.

The development comes after a sharp recovery in Paytm shares over the past year, aided by improving operational metrics, narrowing losses and renewed investor confidence in the digital payments ecosystem. The stock has delivered 34% over a one-year period.

(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

WATERLOO, Ontario — BlackBerry Limited shares rose 18.95% to close at $7.91 on May 22, 2026, on the New York Stock Exchange as the company benefited from renewed investor interest in its QNX software platform and a major U.S. government security certification milestone.

The stock fluctuated between $6.70 and $8.03 during the session with elevated trading volume of approximately 56 million shares. In after-hours trading, shares traded around $7.99.

Government Security Certification

BlackBerry announced that its BlackBerry AtHoc platform achieved Class D (High) re-certification under the Federal Risk and Authorization Management Program (FedRAMP). This certification allows expanded use of the emergency notification and secure communications software by U.S. federal agencies.

QNX Software Performance

BlackBerry’s QNX division, which provides real-time operating systems for automotive and industrial applications, reported record quarterly revenue of $78.7 million in the fiscal fourth quarter ended February 28, 2026, up 20% year-over-year. The division achieved the “Rule of 40” for both the quarter and full fiscal year, combining growth and profitability metrics.

QNX royalty backlog reached approximately $950 million, supported by its embedding in more than 275 million vehicles globally. The software is used in advanced driver assistance systems and other automotive applications.

Fiscal 2026 Financial Results

For the full fiscal year 2026, BlackBerry reported revenue of $549.1 million, up 3% year-over-year. The company swung to a GAAP net income of $53.2 million from a $79.0 million loss in the prior year. Adjusted EBITDA reached $107.1 million, up 27%.

In the fiscal fourth quarter, revenue totaled $156.0 million, up 10% year-over-year. GAAP net income was $24.3 million. The company generated $45.6 million in operating cash flow.

Share Buyback Program

In May 2026, BlackBerry renewed its normal course issuer bid, allowing repurchase of up to 26.8 million common shares, representing approximately 4.58% of its public float.

Analyst and Market Reaction

Analyst price targets have varied, with recent averages around $4.88 to $5.16, though some individual targets reached higher levels amid the stock’s momentum. Consensus ratings have remained in the Hold range with select upgrades.

The stock has shown strong year-to-date performance in 2026, rising more than 100% from early-year lows as investors focused on the company’s transition to software, cybersecurity and automotive AI applications.

Partnerships and Strategy

BlackBerry has highlighted partnerships in automotive AI, including work with Nvidia on edge computing and physical AI foundations. The company continues to emphasize secure communications and IoT solutions as core growth areas.

QNX has been positioned for growth in software-defined vehicles and industrial automation. Secure Communications revenue reached $72.5 million in the fiscal fourth quarter, up 8%.

Broader Industry Context

BlackBerry operates in sectors benefiting from AI infrastructure and connected vehicle trends. The company has shifted from its historical smartphone roots to a software and services model, with emphasis on cybersecurity certifications and automotive embedded systems.

Trading activity on May 22 reflected heavy options volume and bullish sentiment. The stock reached a 52-week high during the session.

Outlook Factors

BlackBerry has guided for continued growth in its QNX and Secure Communications segments. Management has cited a strong royalty backlog and opportunities in government and enterprise markets. The company ended fiscal 2026 with $432.4 million in cash and investments.

Upcoming investor events and potential contract announcements are expected to provide further updates on execution. BlackBerry plans to report fiscal first-quarter 2027 results in June 2026.

The May 22 surge aligned with sector strength in companies tied to AI networking and automotive technology. BlackBerry’s market capitalization approached levels not seen in recent years following the session’s gains.

This report is based on company announcements, financial results and market data available through May 22, 2026. Stock prices remain subject to market conditions and future developments.

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UK’s blue-chip FTSE 100 index was on course to end a four-week losing streak after data released this week weakened expectations of a Bank of England rate ‌hike, giving relief to ⁠investors ⁠unsettled by political uncertainty.

The blue-chip FTSE 100 index rose 0.21% as of 11:18 am GMT on Friday, while the midcap FTSE 250 climbed 0.57%.

* British retail sales fell by the most in nearly a year in April, according to official figures published on Friday, adding to signs of waning consumer spending against the backdrop ⁠of the Middle ‌East war and rising energy costs.

* Earlier this week, separate data also showed that inflation in April ⁠was softer than expected, while the unemployment rate ticked up.

* “Dovish data should reduce the urgency for the BoE to act. So far the MPC (Monetary Policy Committee) is taking comfort from tightening in financial conditions which they say can give them time to assess whether to hike or not,” BofA Securities analysts said.

* The brokerage now expects the central bank ‌to raise borrowing costs in July, later than its previous estimate of a June hike.
* “Political uncertainty is likely to increase near-term policy uncertainty and ⁠lead to tighter financial conditions, which could weigh on growth,” the brokerage added. * Prime Minister Keir Starmer has defied calls from his party’s lawmakers to quit, but his failure to alleviate concerns about the cost of living has disappointed voters.

* Chemical shares rose 2.87% on Friday, while auto stocks gained 2.45%.

* The FTSE 100 index has risen 2.65% in the week so far.

FREMONT, Calif. — AXT Inc. shares jumped 16.37% to close at $140.83 on May 22, 2026, extending recent gains as the semiconductor substrate manufacturer continued to benefit from strong demand for indium phosphide products used in artificial intelligence data center applications.

The stock traded in a wide range during the session, reflecting high volatility that has characterized the company’s shares throughout 2026. In after-hours trading, shares fell slightly to around $139.30.

Q1 2026 Financial Results

AXT reported first-quarter 2026 revenue of $26.9 million, up 39% from $19.4 million in the first quarter of 2025 and up from $23.0 million in the fourth quarter of 2025. The increase was driven primarily by higher substrate sales, particularly indium phosphide products.

GAAP gross margin reached 29.6% in the quarter, compared with 20.9% in the prior quarter and negative 6.4% in the year-ago period. Non-GAAP gross margin stood at 29.9%. The company reported a GAAP net loss of $1.6 million, or $0.03 per share, narrowing from an $8.8 million loss, or $0.20 per share, in the first quarter of 2025.

For the second quarter of 2026, AXT guided for revenue between $28 million and $30 million with non-GAAP earnings per share of $0.06 to $0.08.

Analyst Actions

Wedbush raised its price target on AXT to $93 from $80 while maintaining an Outperform rating. B. Riley increased its target to $73 from $72. Northland raised its target to $90 from $45. Other firms issued upward revisions amid the company’s improving margins and AI-related demand.

Analysts have assigned a consensus Buy rating with average price targets around $41 to $93, though some forecasts are lower.

Product and Market Focus

AXT produces indium phosphide and gallium arsenide substrates used in fiber optic communications, data centers, 5G infrastructure and other high-growth applications. Indium phosphide has seen particularly strong demand due to its role in silicon photonics and high-speed optical components for AI infrastructure.

The company has outlined plans to expand indium phosphide production capacity significantly over the next two years to meet growing orders. It completed equity offerings in April 2026 to fund this expansion, raising substantial capital through common stock sales.

Capital Raises and Corporate Updates

In April 2026, AXT priced an underwritten public offering of 8.56 million shares at $64.25 per share. The company also filed a mixed securities shelf registration. These moves supported its growth strategy despite causing short-term dilution concerns.

AXT adjourned its 2026 annual meeting in May due to a quorum shortfall and later announced participation in multiple financial conferences during the second quarter.

Financial Position

AXT ended the first quarter with improved operational metrics. Cash from operations was positive in the period. The company has focused on cost management and higher-value product mix to drive margin expansion.

Industry Context

Demand for advanced semiconductor substrates has risen with AI data center buildouts. AXT’s products enable high-performance optical networking components critical for hyperscale computing environments. The company competes in a specialized segment with exposure to both cyclical semiconductor cycles and long-term secular growth trends.

Shares have experienced extreme volatility in 2026, with multiple double-digit daily moves and substantial year-to-date gains. Trading volume on May 22 was elevated as the stock reacted to broader sector momentum and company-specific developments.

Outlook

Management has highlighted a strong backlog and opportunities for continued revenue growth in 2026. The company expects sequential improvement in financial performance as capacity expansions come online. Second-quarter guidance reflects confidence in sustained demand for its substrates.

Upcoming quarterly results are anticipated in late July or early August 2026. Analysts will monitor execution on capacity expansion, margin trends and order intake from AI-related customers.

AXT operates manufacturing facilities in China and maintains research and development in the United States. Its business remains sensitive to geopolitical factors, supply chain dynamics and global semiconductor spending patterns.

This article was written by

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The Indian rupee appreciated to close above the 96 per dollar mark for the first time in a week on Friday, as the Reserve Bank of India intervened aggressively to contain depreciation, after the currency nearly touched the 97 level on Wednesday.

The rupee closed at 95.69 per dollar on Friday, versus its previous close of 96.20. It traded between 95.67 and 96.31, giving importers an opportunity to hedge their exposure, traders said.

“We saw public sector banks offering dollars throughout the day today and yesterday (Friday and Thursday). Such massive intervention is seen after a long time, and it seems the RBI wants to cut back rupee-negative positions that were in the market,” a trader from a PSU bank said.
Dealers expect the rupee to trade between 95 and 96 on Monday.
Meanwhile, Asian currencies were mostly weaker, with losses led by a 0.6% fall in the Korean won, Reuters data showed.

India’s near-term economic outlook is clouded by supply-side pressures and weather-related uncertainties, while the potential second-round effects of geopolitical uncertainties in West Asia on domestic prices need careful monitoring, the Reserve Bank of India said in its monthly state of economy report.

“India has entered this phase from a position of macroeconomic strength. Domestic demand continues to be the key driver of growth. However, the near-term outlook is somewhat clouded by supply-side pressures,” the report prepared by the central bank researchers observed.

They expressed caution on the likelihood of the pass-through to domestic prices. “Although headline inflation remains firmly within the tolerance band, the pass-through to domestic prices needs to be monitored,” they said.

The April inflation measured by the Consumer Price Index (CPI) rose to 3.5% from 3.4% in March, largely driven by food inflation, while core inflation remained steady.

The Wholesale Price Index (WPI) inflation, however, rose to 8.3% in April from 3.9% in March, recording a 42-month high, indicating “incipient price pressures in India”, the report observed.

RBI maintains that the views expressed in the report are of the researchers, who were guided by Deputy Governor Poonam Gupta.
“The financial conditions, crude oil prices and capital flows continue to pose challenges to the external sector outlook. Nevertheless, robust services exports, positive net FDI flows, foreign exchange reserve buffers and a number of proactive policy measures undertaken by the government and the RBI are likely to cushion the Indian economy against external headwinds,” they said.Economic activity showed a mixed trend in April. Industrial and services activity stayed strong in many segments, with most listed private non-financial companies showing quarter-on-quarter improvement in business performance in the fourth quarter. On the other hand, the merchandise trade deficit widened month-on-month in April on a rising import bill, primarily due to crude oil and gold.

In the agriculture sector, rapid progress of summer sowing was supported by above-normal pre-monsoon rainfall. However, a higher probability of above-normal minimum temperatures and unseasonal rains in some parts of the country pose risks to the harvesting of remaining rabi crops, the authors warned.