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In the realm of artificial intelligence, Elon Musk’s xAI unveils its most advanced chatbot yet, Grok 3, challenging the likes of OpenAI’s ChatGPT.
Meanwhile, the Indian stock market sees a significant dip, with nearly half of the Nifty50 constituents experiencing a fall of over 20% from their 52-week highs, while gold prices rise as investors seek refuge amid global uncertainty.
In the telecom sector, Bharti Airtel’s ₹8,485 crore block deal makes headlines, and Gyanesh Kumar has been appointed as India’s new Chief Election Commissioner.
On the international front, US-Russian talks signal the need for concessions to resolve the ongoing conflict in Ukraine, while India and Qatar fast-track discussions for a new trade pact.
Here are the top 10 buzzing stories from markets, business, economy, and beyond.
Tesla to begin hiring in India, eyes low-cost EV entry after PM Modi’s US trip
Tesla Inc. has begun recruiting in India, indicating that the electric vehicle (EV) giant is gearing up for its long-anticipated entry into the market. The electric vehicle manufacturer has posted job openings for 13 roles, covering both customer-facing and operational positions, sources told CNBC-TV18.
Among the listed vacancies, at least five positions—including service technicians and advisory roles—are available in both Mumbai and Delhi. Other roles, such as customer engagement manager and delivery operations specialist, are specifically based in Mumbai.
This move comes as Tesla is reportedly gearing up to begin retail sales in India this year. The company has been scouting for showroom locations in Delhi, Mumbai, and other major cities, sources told CNBC-TV18.
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xAI rolls out Grok 3: How to access the advanced AI chatbot
Elon Musk’s artificial intelligence startup xAI has launched Grok 3, its most advanced AI chatbot to date, positioning it as a direct competitor to OpenAI’s ChatGPT and Google’s Gemini. The rollout began today, with Premium Plus subscribers on X (formerly Twitter) being the first to gain access.
During a live demonstration of Grok 3, Musk emphasised its superiority over its predecessor, Grok 2, stating that it offers significant improvements in reasoning and performance. “All you need to know to understand which company will win a technology competition is look at the first and second derivatives of the rate of innovation,” he wrote on X.
Here’s how users can start using Grok 3
Down but Not Out: Nearly half of Nifty 50 stocks fall over 20% from their 52-week highs
The Nifty50 index, which tracks India’s top 50 companies, has faced a notable downturn, with nearly half of its constituents experiencing a drop of more than 20% from their 52-week highs. While several analysts suggest this correction may be a short-term adjustment, but concerns persist about whether the slide could deepen before a recovery takes hold.
The most significant drops come from companies in the automotive, energy, and metals sectors. Tata Motors, Adani Enterprises, and Trent Ltd. have seen drops of over 40% from their 52-week highs, with Tata Motors losing nearly 43%. The auto sector’s struggle reflects challenges like subdued ongoing demand, supply-chain issues as well as rising competition.
More deets here
Rupee weakens against US dollar as foreign investors continue selling
The rupee slipped 8 paise to 86.96 against the US dollar in early Tuesday (February 18) trade, pressured by ongoing foreign fund outflows and a weak trend in domestic equities.
Forex traders noted a negative bias for the dollar/rupee pair, with foreign investors continuing to sell Indian stocks while the Reserve Bank of India’s (RBI) support gradually wanes.
At the interbank foreign exchange market, the rupee opened at 86.94 and further depreciated to 86.96, marking an 8-paise drop from its previous close.
On Monday (February 17), the currency had declined by 17 paise, settling at 86.88.
Full story here
Gold prices rise as tariff uncertainty drives safe-haven demand
Gold prices extended gains on Tuesday, February 18, as concerns over US President Donald Trump’s tariff policies fueled safe-haven demand. Investors turned to bullion amid fears of a potential global trade war.
Spot gold rose 0.2% to $2,903.56 per ounce as of 0301 GMT. US gold futures gained 0.6% to $2,916.80 per ounce.
In India, 24K gold advanced by ₹10 to ₹86,630 per 10 grams in Mumbai and other major cities. The increase came as the US dollar index hovered at 106.6 against leading currencies.
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Bharti Airtel Block Deal | Promoter entity sells 5.11 crore shares worth ₹8,485 crore
As many as 5.11 crore shares of Bharti Airtel worth ₹8,485.11 crore changed hands in a block deal window on Tuesday, February 18.
Later, Bharti Airtel in a stock exchange filing confirmed that the Indian Continent Investment Ltd had sold 0.84% stake, or 5.11 crore shares, for around 8,485.11 crore.
Bharti Telecom Ltd, the promoter of Airtel, anchored the trade by acquiring 1.2 crore shares, it said.
On Monday, February 17, CNBC-TV18 had reported, citing a term sheet, that Bharti Airtel promoter entity Indian Continent Investment Limited was likely to sell approximately 0.8% of its stake in the telecom giant at ₹1,658.80 per share.
More details here
Gyanesh Kumar appointed 26th Chief Election Commissioner
Gyanesh Kumar has been appointed as the 26th Chief Election Commissioner (CEC) of India, succeeding Rajiv Kumar, whose tenure ends on February 18, 2025. He became the first CEC appointed under the new law governing the selection of election commissioners.
A former IAS officer from the Kerala cadre, Kumar was chosen by a high-level panel led by Prime Minister Narendra Modi. The selection committee included Union Law Minister Arjun Ram Meghwal, Union Home Minister Amit Shah, and Lok Sabha Leader of Opposition Rahul Gandhi.
His term will run till January 26, 2029, days before the EC is expected to announce the schedule of the next Lok Sabha election.
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Hope Supreme Court strikes down govt-controlled Election Commission appointments law: ADR
The Association for Democratic Reforms (ADR) is hopeful that the Supreme Court will declare the new law governing the appointment of election commissioners unconstitutional and invalidate appointments made under it.
“We are hoping that the Supreme Court will say that, this law, made by the Parliament is not constitutional, and the appointments made under this law are not valid,” said Jagdeep Chhokar, Co-Founder and Trustee of ADR in an interview to CNBC-TV18.
Read here
US says all sides must make concessions in Ukraine talks covering land and security
Senior US officials said on Tuesday after talks with a Russian delegation in Saudi Arabia that all sides will need to make concessions in order to bring about an end to the three-year-old Ukraine war.
“Today is the first step of a long and difficult journey but an important one,” Secretary of State Marco Rubio said after the talks in Riyadh.
White House national security adviser Mike Waltz, also part of the U.S. delegation alongside special envoy Steve Witkoff, told reporters that no date had been set for a summit between U.S. President Donald Trump and Russian President Vladimir Putin.
More deets here
India, Qatar to expedite fresh bilateral trade pact process
Qatar has expressed readiness to speed up negotiations for a fresh bilateral investment promotion and protection agreement with India. The Qatar National Bank is also expanding its presence in India by setting up an office in Gujarat’s GIFT City.
With Qatar’s Amir Sheikh Tamim bin Hamad Al-Thani visiting India for bilateral talks with India’s Prime Minister Narendra Modi, a high-level delegation, including ministers, senior officials, and businesses, is also holding meetings for potential business opportunities in India.
Full story here
Delta plane flips upon landing at Toronto Airport | Watch video
Seventeen people were injured after a Delta Airlines plane flipped upon arrival at Toronto’s Pearson Airport and ended up on its roof on Monday, February 18.
The airport confirmed on X that an “incident” occurred with the Delta flight from Minneapolis and that 76 passengers and four crew are accounted for. The accident happened around 2:15 pm and flights at the airport were grounded for around two and a half hours. Two runways will remain closed during the investigation.
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