Shares of Indian IT majors, including Infosys and HCLTech, fell up to 4%, emerging as top losers on the Sensex and dragging the Nifty IT index down 3%. The decline came after OpenAI’s launch of the ‘OpenAI Deployment Company’, which rekindled concerns over potential AI-driven disruption in the sector.

The Nifty IT index slumped 3%, becoming the day’s top sectoral loser, even as the Indian rupee hit a fresh lifetime low by breaching 95.50 against the US dollar, and Wall Street rallied to new record highs on the back of a tech-driven surge.

OpenAI launches OpenAI Deployment Company

OpenAI on Monday announced the launch of OpenAI Deployment Company with an initial investment of $4 billion, designed to help organisations build and deploy AI systems they can rely on every day across their most important work. The artificial intelligence major said that successful AI deployment is about empowering people and teams to do more. The OpenAI Deployment Company will extend OpenAI’s ability to embed engineers specialised in frontier AI deployment, known as Forward Deployed Engineers (FDEs), into organisations working on complex problems in demanding environments, it added. “These FDEs will work closely with business leaders, operators, and frontline teams to identify where AI can make the biggest impact, redesign organisational infrastructure and critical workflows around it, and turn those gains into durable systems,” the firm further said.

As part of the launch, OpenAI agreed to acquire AI consulting and engineering firm Tomoro. The company said that the acquisition will bring nearly 150 experienced Forward Deployed Engineers and Deployment Specialists to the OpenAI Deployment Company from day one.
OpenAI said that the OpenAI Deployment Company is a committed partnership between OpenAI and 19 leading global investment firms, consultancies, and system integrators. TPG leads the partnership, with Advent, Bain Capital, and Brookfield as co-lead founding partners, and B Capital, BBVA, Emergence Capital, Goanna, Goldman Sachs, SoftBank Corp., Warburg Pincus, and WCAS as founding partners.
IT stocks saw a significant decline earlier this year. The rout began on Dalal Street back in February after AI startup Anthropic launched plug-ins for its Claude Cowork agent, which could automate tasks across legal, sales, marketing and data analysis.
“We call it the ‘SaaSpocalypse,’ an apocalypse for software-as-a-service stocks,” Bloomberg quoted Jeffrey Favuzza from the equity trading desk at Jefferies as saying.

Notably, BSE on Monday had launched futures and options (F&O) contracts on the BSE Focused IT Index, becoming the first exchange in India to introduce derivative products benchmarked specifically to the information technology sector. The IT segment accounts for nearly 6% of the total market capitalisation of companies listed on the BSE.

Also read: Groww shares sink 7% as Peak XV, Sequoia, others launch Rs 5,637-crore stake sale amid IPO lock-in expiry

IT stocks

Persistent Systems shares fell 4.75% to an intraday low of Rs 4,855, making it one of the biggest drags on the Nifty IT index on Tuesday morning. Tata Consultancy Services (TCS) and Infosys also declined around 4% to lows of Rs 2,292 and Rs 1,131.6, respectively. Meanwhile, Tech Mahindra, Coforge and LTI Mindtree dropped around 3% each.

HCLTech, Wipro and Mphasis shares fell more than 2% each, while OFSS shares dropped around 1%.

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

Shares of Afcons Infrastructure surged 5.21% to Rs 343.60 during Tuesday’s trading session after the company announced a breakthrough in its international expansion strategy by securing a massive railway infrastructure project in Croatia worth approximately Rs 7,544 crore.

In its exchange filing dated May 11, Afcons Infrastructure announced that it had received intimation from the client confirming the company as the “most suitable bidder” for a railway rehabilitation and construction project in Europe.

The project is expected to be Afcons’ largest international order to date and represents the company’s official foray into the European infrastructure sector.

Commenting on the development, Executive Chairman Mr Krishnamurthy Subramanian said the project represents a significant milestone in Afcons’ global growth journey. He added that the win highlights the company’s capability to execute complex and large-scale infrastructure projects across geographies while strengthening its reputation as a trusted international infrastructure partner.

Managing Director S. Paramasivan stated that the project includes the reconstruction of the existing railway track along with the construction of a second railway line. The scope also covers overhead electrification, signalling systems, and telecommunication works. The total project value stands at €677.07 million excluding taxes, equivalent to nearly Rs 7,544 crore.

He further noted that the project aligns with the vision of India’s Prime Minister’s “Making for the World” initiative, showcasing Indian engineering capabilities on the global stage.

Stock Performance & Valuation

The company currently commands a market capitalisation of around Rs 12,013 crore, while the stock’s 52-week high is Rs 479.40.
On the valuation front, Afcons Infrastructure is currently trading at a Price-to-Earnings (PE) ratio of 27.81, while its Price-to-Sales (P/S) ratio stands at 1.43 and Price-to-Book (P/B) ratio at 2.38. From a technical perspective, the stock is showing positive momentum, indicating underlying strength in the ongoing trend.
According to Trendlyne data, the stock’s RSI (14) is at 51.5, indicating neutral momentum. Typically, an RSI below 30 is considered oversold, while an RSI above 70 is viewed as overbought.

Also read: Groww shares sink 7% as Peak XV, Sequoia, others launch Rs 5,637-crore stake sale amid IPO lock-in expiry

Technically, the stock remains in a bullish zone as it is trading above 6 out of its 8 key simple moving averages (SMAs), suggesting improving momentum after recent consolidation.

Mutual Funds Raise Stake

Shareholding data for the March 2026 quarter shows growing institutional confidence in the company. Mutual fund holdings increased from 17.02% to 18.60%, while foreign institutional investors (FIIs) marginally reduced their stake from 12.81% to 12.19% during the same period.

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

LOS ANGELES — LeBron James stood at midcourt inside Crypto.com Arena late Monday night, the final buzzer still echoing after the Oklahoma City Thunder completed a 4-0 sweep of the Los Angeles Lakers with a 115-110 victory in Game 4 of the Western Conference semifinals. At 41, James had just played what could have been his final game in a Lakers uniform, finishing with 24 points and 12 rebounds while showing sportsmanship by embracing Shai Gilgeous-Alexander and former teammate Alex Caruso.

The defending champion Thunder, now 8-0 in the 2026 playoffs, advanced to the Western Conference finals with the series-clinching win. Gilgeous-Alexander poured in 35 points and eight assists to lead Oklahoma City, while Austin Reaves added 27 points for the Lakers and Rui Hachimura scored 25. But the youth and depth of the Thunder overwhelmed Los Angeles, just as they had in Games 1 through 3.

For James, the sweep marked the end of another postseason run that fell short of his ultimate goal. It also intensified questions that have swirled for months: Where will the four-time NBA champion play next season — or will he play at all? As an unrestricted free agent for the first time in years after opting into his $52.6 million player option for 2025-26, James holds his future in his hands. NBA insiders say the sweep has only accelerated the timeline for his decision.

James averaged approximately 23.3 points, 6.0 rebounds and 5.8 assists across the series, numbers that underscored both his enduring excellence and the Lakers’ supporting cast limitations against a faster, deeper opponent. He became the first player in NBA history to be swept in three different decades, a stat that fueled memes but also highlighted the gap between his individual brilliance and team success this spring.

The Lakers entered the series as the No. 4 seed after navigating the play-in tournament. They pushed the Thunder early in several games but could not sustain leads against Oklahoma City’s relentless pace and defensive versatility. Game 4 stayed competitive until the final minutes, but the Thunder’s experience as defending champions proved decisive. James, who has now reached the playoffs in 21 of his 23 seasons, refused to use age as an excuse.

“This is a young, hungry team,” James said postgame, according to multiple reports. “They earned it. Respect to them.”

Speculation about James’ next chapter has dominated NBA discourse since last summer, when agent Rich Paul announced the opt-in. Unlike past years when James held player options that provided leverage, he deliberately positioned himself as a true free agent heading into the 2026 offseason. That move signaled openness to change — or possibly retirement — while leaving the door ajar for a Lakers return.

Cleveland and Golden State have emerged as the primary alternatives, according to league executives and reporters who have tracked James’ thinking for months. A return to the Cavaliers, where James won two of his four titles and began his career as the No. 1 pick in 2003, represents the sentimental favorite. Cleveland’s young core — Donovan Mitchell, Darius Garland, Evan Mobley and Jarrett Allen — offers a legitimate chance at contention in the Eastern Conference. Insiders describe a potential homecoming as “the most likely” landing spot if James seeks one final deep playoff run near his Akron roots.

James’ family ties add another layer. His son Bronny, a rookie guard for the Lakers, shared the court with his father this season — including the historic father-son playoff sweep. A move to Cleveland would not include Bronny unless the Cavaliers pursue him separately, but the proximity to family in Ohio could appeal to James as he weighs how many more seasons remain in his legendary career.

Golden State offers a different kind of narrative. Warriors officials have “seriously” considered pursuing James to pair him with Stephen Curry for one last championship push, according to multiple reports. The duo’s mutual respect dates back to their epic 2015-2018 Finals battles. Joining Curry, Draymond Green and a still-competitive supporting cast could create one of the most star-studded offenses in league history. However, Golden State’s cap constraints likely would require James to accept a mid-level exception or veteran minimum — a significant pay cut from the $50 million-plus he has earned in recent seasons.

Lakers general manager Rob Pelinka has not closed the door on retaining James, sources say. The organization views him as the franchise cornerstone despite the sweep. Re-signing James on a shorter deal could free cap space to build around Austin Reaves and potentially add complementary pieces. Yet the Lakers’ inability to surround James with consistent championship-caliber help in recent years has fueled doubts. Some insiders question whether James wants to remain the focal point of a roster that has twice been swept in the Western Conference semifinals during his second Lakers stint.

Financial realities will shape every option. James’ $20.9 million free-agent cap hold with the Lakers would leave the team with roughly $50 million in projected space if he declines to return. Teams like the Cavaliers and Warriors, already deep into the luxury tax, cannot offer max-level money without roster surgery. James has never chased the largest contract possible in free agency, prioritizing winning instead. Still, accepting less than $15 million annually would represent a substantial sacrifice at his age.

Retirement remains a possibility, though James has given no public indication he is ready to walk away. He has spoken often about playing alongside Bronny, a milestone already achieved. Friends and former teammates describe him as mentally sharper than ever and still driven by competition. “He values a realistic chance of winning it all,” one NBA executive told ESPN earlier this spring.

The sweep also spotlighted broader questions about the Lakers’ direction. With James’ future unresolved, the franchise must decide whether to build for the present or the post-LeBron era. Rumors have linked the Lakers to star players in potential trades, but any major move hinges on James’ decision. Coach JJ Redick, in his first full season, faces the challenge of keeping the locker room focused amid constant external noise.

Across the league, rival executives acknowledge James’ unique market power even at 41. His basketball IQ, leadership and global brand remain unmatched. A minimum deal would make him a coveted addition for nearly any contender. Yet James has repeatedly said he wants to compete at the highest level, not merely collect a paycheck.

Cleveland offers familiarity and unfinished business. James left the Cavaliers in 2010 for Miami, returned in 2014 to deliver the city its first title in 52 years, then departed again for Los Angeles in 2018. A third act in wine-and-gold would write a storybook ending few athletes achieve. The Cavaliers, who have improved steadily without James, could suddenly become Eastern Conference favorites with his addition.

Golden State presents the ultimate ring-chase scenario. Curry, 38, is entering what could be his final prime years. Pairing two all-time greats for a farewell tour would generate unprecedented buzz. The Warriors’ coaching staff and system have long been praised for maximizing veteran talent. James’ ability to play off-ball and facilitate would mesh seamlessly with Curry’s gravity.

Staying in Los Angeles carries its own allure. James has built a life in Southern California. His production company, SpringHill, thrives in Hollywood. The Lakers remain one of the league’s premier brands. If the front office can deliver better supporting pieces — perhaps through the draft or free agency — James could chase a fifth title without uprooting his family.

Other speculative destinations, including the New York Knicks, Denver Nuggets or even a surprise sign-and-trade, have surfaced in rumors but lack the traction of the top three. Cap space remains tight league-wide after recent extensions and luxury-tax penalties.

Whatever James chooses, the decision will reshape the 2026-27 landscape. The Thunder’s dominance this postseason — sweeping the Lakers after earlier rounds of blowouts — signals a new era of Western Conference power. James has thrived by adapting to change throughout his career. From high school phenom to Miami Heat superstar to Cleveland savior to Lakers icon, he has always dictated his narrative.

Monday’s loss may not have been the final chapter, but it closed one volume emphatically. James walked off the court to a standing ovation from Lakers fans who understand they may have witnessed his last home game. He waved, embraced teammates and disappeared into the tunnel.

League sources expect James to take his time, consulting family, business partners and closest confidants before announcing his plans. Free agency officially begins in July, but conversations could accelerate in the coming weeks. For now, the basketball world waits — and speculates.

James has defied age, expectations and conventional wisdom for more than two decades. Whether he returns to his roots in Cleveland, teams with Curry in Golden State, or finds one more run in purple and gold, the King’s next move will command center stage. The only certainty is that the conversation will dominate the NBA offseason, just as James has dominated the sport for a generation.

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iHeartMedia, Inc. (IHRT) Q1 2026 Earnings Call May 11, 2026 4:30 PM EDT

Company Participants

Andrey Hart
Bob Pittman – Chairman & CEO
Rich Bressler – President, COO & Director
Michael McGuinness – Chief Financial Officer

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Conference Call Participants

Aaron Watts – Deutsche Bank AG, Research Division
Stephen Laszczyk – Goldman Sachs Group, Inc., Research Division
Sebastiano Petti – JPMorgan Chase & Co, Research Division
Patrick Sholl – Barrington Research Associates, Inc., Research Division

Presentation

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Operator

Good afternoon, and welcome to iHeartMedia’s First Quarter 2026 Earnings Call. [Operator Instructions] As a reminder, this conference call is being recorded. I would now like to turn the call over to Andrey Hart, Senior Vice President of Investor Relations. Thank you. Please go ahead.

Andrey Hart

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Good afternoon, everyone, and thank you for taking the time to join us for our first quarter 2026 earnings call.

Joining me for today’s discussion are Bob Pittman, our Chairman and CEO; Rich Bressler, our President and COO; and Mike McGuinness, our CFO.

At the conclusion of our prepared remarks, management will take your questions. In addition to our press release, we have an earnings presentation available on our website that you can use to follow along with our remarks. Please note that this call may include forward-looking statements regarding our financial performance and operating results. These statements are based on management’s current expectations, and actual results could differ from what is stated as a result of certain factors identified on today’s call and in the company’s SEC filings, including our recent 8-K filing. Additionally, during this call, we will refer to certain non-GAAP financial measures. Reconciliations between GAAP and non-GAAP financial measures are included in our earnings release, earnings presentation and our SEC filings, which are available in the Investor Relations section of our website.

And now I’ll turn

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One MobiKwik Systems on Tuesday reported a net profit of Rs 4.38 crore for the fourth quarter of FY26, compared with a net loss of Rs 56 crore posted in the corresponding quarter of the previous financial year.

The company’s revenue from operations came in at Rs 289 crore, a jump of 8% from Rs 268 crore in the same quarter last year, the company said in a regulatory filing today.

EBITDA for the March quarter stood at Rs 10 crore, compared with an EBITDA loss of Rs 56.5 crore in the year-ago period.

EBITDA margin improved to 3.5% from negative 21% a year earlier.

The management said the quarterly results capped a transformational year driven by structural margin expansion in both Payments and Financial Services, along with a deliberate shift towards higher-quality lending.

Total income for Q4 stood at Rs 296 crore, up 6% YoY, while full-year FY26 total income came in at Rs 1,154.2 crore.
Contribution profit more than doubled, rising 112% YoY to Rs 135.1 crore in the March quarter. For the full financial year, contribution profit stood at Rs 437.4 crore, marking a 21% increase over FY25.The company also said fixed costs as a percentage of total income remained broadly stable at 40% in Q4FY26, compared with 39% in the corresponding quarter last year, despite continued investments and cost allocation towards building new businesses.

As for segmental revenue, the company said its core payments business continued to deliver strong growth, supported by rising UPI adoption and improving unit economics. It remained the number one PPI wallet player in India and ranked as the second fastest-growing third-party application provider (TPAP) in the country’s UPI ecosystem, with UPI transactions rising 170% YoY in Q4 compared with the industry average growth of 26%. The company also ranked as the sixth-largest customer operating unit in the BBPS ecosystem.

Payments GMV touched a record high for the 13th consecutive quarter, rising 58% YoY and 9% sequentially to Rs 52,400 crore in Q4FY26. For the full financial year, GMV stood at Rs 1,82,100 crore, up 57% YoY, representing a 4.8x increase from FY24 levels in just two years. The company also reported an industry-leading net payments margin of 16 basis points, driven by monetisation beyond UPI.

In the financial services segment, the company said the business continued its recovery on the back of better credit quality and stronger collection efficiency. ZIP EMI GMV grew 59% YoY to Rs 837.7 crore during the quarter, with 75% of disbursals under the FLDG model and the remaining 25% through the distribution model.

Financial services revenue rose 37% YoY and 18% quarter-on-quarter (QoQ) to Rs 77.1 crore in Q4FY26, while full-year FY26 revenue from the segment stood at Rs 261.9 crore. Gross profit from financial services surged 1,775% YoY and 21% sequentially to Rs 45.1 crore in the March quarter. For the full year, financial services gross profit came in at Rs 115.7 crore.

Following the Q4 results, MobiKwik shares declined 4% to their day’s low of Rs 218.30 on the BSE

Rolly Bustos

All right. I think to respect everybody’s time, I think we will get started here. So again, greetings, and welcome to all the shareholders and stakeholders who are joining us on today’s Draganfly 2026 Q1 Earnings Call.

My name is Rolly Bustos, and I am the Internal Investor Relations rep here at Draganfly. We appreciate you, as always, joining us. We will start with our CEO and President, Cameron Chell, recapping the first quarter. Next will be a more detailed financial review with our CFO, Paul Sun. We will then conclude, as always, by addressing the pre-submitted questions that we have received.

Though I know many of you, as always, anybody is welcome to reach out to me directly at investor.relations@draganfly.com, and I’d be happy to have a conversation. I remind everyone that this presentation may include forward-looking information and statements. These statements are not guarantees of future performance or financial results and undue reliance should not be placed on them.

Any future events or financial results may differ from what might be discussed here. The company’s results and statements are accurate as of today, May 11, 2026. We are under no obligation to update or renew these statements outside of material press release disclosure going forward. The full forward-looking disclaimer can be found on Page 2 of this presentation and on the screen right now. So Cam, if you’re ready, please go ahead.

Cameron Chell
President, CEO & Executive Chairman of the Board

Great. Thanks, Rolly, and I really appreciate everybody’s time and consideration and joining us on today’s Q1 earnings call. So I’ll start off with

Q1: 2026-05-11 Earnings Summary

EPS of -$0.19 misses by $0.32

 | Revenue of $608.10M (3.77% Y/Y) misses by $8.75M

This article was written by

MINNEAPOLIS — Victor Wembanyama’s availability for Game 5 of the Western Conference semifinals remains in doubt Monday as the NBA reviews his flagrant-2 ejection from Sunday’s loss, while Golden State Warriors forward Draymond Green openly encouraged the Minnesota Timberwolves to retaliate physically against the Spurs superstar.

Green, appearing on his podcast, did not hold back when discussing the controversial play in which Wembanyama was ejected for swinging an elbow into Naz Reid’s jaw and neck area. “Who’s gonna elbow him in the face?” Green asked pointedly. “Somebody’s got to send a message. You can’t let that slide in the playoffs.”

The comments quickly went viral, adding another layer of intensity to an already physical series now tied 2-2 heading into Tuesday night’s pivotal Game 5 at the Frost Bank Center in San Antonio.

League review underway

NBA officials are examining the incident for possible supplemental discipline. While flagrant-2 ejections do not carry automatic suspensions, contact above the shoulders in the playoffs often results in at least a one-game ban. Wembanyama, who had been dominant through the first three games, appeared stunned by the ejection and later expressed regret for the outcome while defending his physical play in a hard-fought series.

Spurs coach Mitch Johnson pushed back strongly against any suspension, calling it “ridiculous” and insisting there was no malicious intent. “He’s protecting himself out there,” Johnson said. “The physicality has been ramped up on both sides.”

Reid, who absorbed the elbow, downplayed the hit after the game, saying he was fine and that “basketball happens.” However, the Timberwolves have privately expressed frustration with what they see as repeated physical tactics targeting their big men.

Wembanyama’s playoff emergence

At just 22 years old, Wembanyama has transformed the Spurs into legitimate contenders ahead of schedule. Drafted No. 1 overall in 2023, he earned Defensive Player of the Year honors in his second season and has taken his game to another level in these playoffs. His rim protection, scoring versatility and basketball IQ have drawn comparisons to generational talents.

The ejection in Game 4 came at a critical moment. The Spurs led by as many as nine points before the incident, but struggled without their franchise cornerstone in the second half. Anthony Edwards exploded for 36 points, helping Minnesota even the series.

If Wembanyama is suspended for Game 5, the Spurs would face a massive challenge on their home floor. San Antonio’s supporting cast, including Stephon Castle and De’Aaron Fox, has shown promise, but losing the 7-foot-4 Defensive Player of the Year would shift the series dynamics dramatically.

Green’s comments ignite debate

Draymond Green’s call for retaliation struck a nerve across the league. Known for his own physical style and history of controversial plays, Green argued that young stars like Wembanyama need to be “welcomed” to the physicality of the playoffs.

“You can’t let these young bigs just throw elbows and not expect a response,” Green said. “Naz took one for the team. Now it’s time to respond the right way — within the rules, of course.”

The comments drew mixed reactions. Some praised Green for defending player safety and playoff toughness, while others accused him of encouraging dirty play. NBA players’ union representatives have stayed silent publicly, but multiple veterans privately expressed concern about escalating physicality in an already intense series.

Lakers parallel and league-wide implications

The situation echoes the scrutiny around Luka Doncic’s hamstring injury and the physical toll playoffs take on star players. With several high-profile stars dealing with injuries or ejections this postseason, league officials face growing pressure to balance player safety with the physical nature of playoff basketball.

Wembanyama’s clean reputation until Sunday’s incident makes the review particularly interesting. He has rarely lost composure, making the elbow swing appear out of character and possibly a reaction to repeated physical jostling throughout the series.

Timberwolves’ approach for Game 5

Minnesota coach Chris Finch has preached discipline and focus. While he did not directly address Green’s comments, Finch emphasized playing “within the rules” while protecting their players. The Timberwolves have shown championship-level composure, capitalizing on Wembanyama’s absence in Game 4 to even the series.

If Wembanyama sits, Edwards and the Wolves’ depth will be heavily favored at home. A victory would give Minnesota a 3-2 lead with a chance to close out the series in San Antonio.

Spurs’ resilience tested

For San Antonio, the focus remains on preparation and adaptability. Even without their defensive anchor, the young Spurs have shown fight. Coach Johnson has emphasized maintaining identity regardless of personnel. However, losing Wembanyama for Game 5 would force significant adjustments on both ends of the floor.

Broader playoff narrative

The Western Conference semifinals have lived up to their billing as a clash of styles and generations. Wembanyama represents the future of the league, while veterans like Edwards and Green bring championship experience and edge. Green’s comments have added psychological warfare to an already intense matchup.

As Game 5 approaches, the basketball world waits for the NBA’s decision. A suspension would mark a significant blow to the league’s marketing of its young stars, while no suspension could be viewed as leniency for a high-profile player.

Fan and social media reaction

Social media has been divided. Many defend Wembanyama as a young star still learning playoff physicality, while others side with Green’s call for accountability. Clips of the elbow and Green’s podcast comments have amassed millions of views, dominating basketball conversation heading into Game 5.

The incident has also sparked renewed debate about player safety, officiating consistency and the unwritten rules of playoff basketball.

What’s at stake in Game 5

Tuesday night’s game carries enormous weight. For the Spurs, a win would regain home-court advantage and shift momentum. For the Timberwolves, victory would put them one win away from the Western Conference finals and a chance to eliminate a rising powerhouse.

Regardless of Wembanyama’s status, the series has already delivered memorable moments and physical, emotional basketball. Green’s provocative comments have only heightened the drama as both teams prepare for what could be a decisive night in San Antonio.

The basketball world will be watching closely — not just for the outcome, but for how the league handles one of the most talked-about plays of the 2026 playoffs.