logo
‘Spoke to Nikhil and Nithin': Indian-American Perplexity CEO hints at Zerodha collaboration

‘Spoke to Nikhil and Nithin': Indian-American Perplexity CEO hints at Zerodha collaboration

Hindustan Times4 hours ago
The Indian-origin CEO of Perplexity AI has hinted at an upcoming collaboration with Zerodha. Aravind Srinivas said he has spoken to Nithin and Nikhil Kamath – the billionaire brothers behind India's largest stockbroker – indicating that a big announcement is in the offing. Nikhil Kamath (L) is the co-founder of Zerodha, while Aravind Srinivas (R) is the co-founder and CEO of Perplexity AI.
This comment from Srinivas comes shortly after his startup made an unsolicited $34.5 billion (over ₹3,02,152 crore) all-cash bid to acquire Google Chrome, according to a Reuters report.
For some context
This morning, Srinivas announced a new finance-focused feature within Perplexity AI. 'Indian stocks are now covered on Perplexity Finance,' he wrote.
'Zerodha when?' an X user asked him in the comments section.
The Indian-origin, San Francisco-based CEO of Perplexity AI then hinted at a possible collaboration, revealing that he had already spoken to the co-founders of Zerodha.
'Spoke to Nikhil and Nithin. Will have something to share soon,' wrote Srinivas.
What is Perplexity AI?
Perplexity is an AI-powered "answer engine"—a hybrid between a search engine and a conversational chatbot. It allows users to ask questions in natural language and receive answers that are supported by real-time web search and source citations.
A possible Zerodha collaboration?
The talk of a Perplexity and Zerodha collaboration is not entirely without precedent. Last week, an X user suggested that Perplexity team up with Zerodha to add Indian stock markets to the finance page of its Comet browser.
Aravind Srinivas had responded to this suggestion by tagging Nikhil Kamath, co-founder of Zerodha. 'Absolutely, setting up a call for Monday…' Kamath responded.
Perplexity's offer to Google
Perplexity AI made a $34.5 billion unsolicited all-cash offer for Alphabet's Chrome browser on Tuesday, a bid far above its own valuation as the startup reaches for the browser's billions of users pivotal to the AI search race.
Run by Aravind Srinivas, Perplexity is no stranger to headline-grabbing offers: it made a similar one for TikTok US in January, offering to merge with the popular short-video app to resolve U.S. concerns about TikTok's Chinese ownership.
(Also read: Indian-origin man offers over ₹3302152 crore to Google just to buy…)
(With inputs from Reuters)
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Vikram Solar sets IPO price band at ₹315-332, opens Aug 19: Check details
Vikram Solar sets IPO price band at ₹315-332, opens Aug 19: Check details

Business Standard

time11 minutes ago

  • Business Standard

Vikram Solar sets IPO price band at ₹315-332, opens Aug 19: Check details

Vikram Solar IPO: Vikram Solar, a Kolkata-based solar photo-voltaic company, has set the price band for its maiden public issue in the range of ₹315 to ₹332 per equity share. The company aims to raise ₹2,079.37 crore through a combination of fresh issue of 45.2 million equity shares worth ₹1,500 crore and offer for sale (OFS) of 17.5 million shares worth ₹579.37 crore. Gyanesh Chaudhary, Vikram Capital Management, and Anil Chaudhary are the promoter selling shareholders. According to the red herring prospectus (RHP), the company has reserved not more than 50 per cent of the issue for qualified institutional buyers (QIBs), 35 per cent for retail investors and 15 per cent for non-institutional investors (NIIs). MUFG Intime India is the registrar for the issue. JM Financial, Nuvama Wealth Management, UBS Securities India, Equirus Capital, and PhillipCapital (India) are the book-running lead managers. According to the RHP, the issue will open for subscription on Tuesday, August 19, 2025, and close on Thursday, August 21, 2025. The anchor investor period shall be one day prior to the opening date, i.e. Monday, August 18, 2025. The basis of allotment of shares is likely to be finalised on Friday, August 22, 2025. The stock will be listed on the National Stock Exchange (NSE) and BSE, tentatively on Tuesday, August 26, 2025. The lot size for an application is 45 shares. Accordingly, a retail investor would require a minimum investment amount of ₹14,940 to bid for one lot or 45 shares. The company plans to utilise ₹769.73 crore from the net fresh issue proceeds for investment in its wholly owned subsidiary, VSL Green Power, for the Phase-I Project and ₹595.2 crore for the Phase-II Project. The remaining funds will be used for general corporate purposes. About Vikram Solar Incorporated in 2005, Vikram Solar is a solar photo-voltaic (PV) module manufacturing company. It operates two solar PV module manufacturing facilities located in West Bengal and in Tamil Nadu with 4.50 GW of installed manufacturing capacity. The company also provides Engineering, Procurement, and Construction (EPC) services for solar power projects, ensuring efficient project execution from design to commissioning. It offers operations and maintenance (O&M) services to optimise the performance and longevity of solar power installations. The company has a presence across 23 states and three union territories, through a distributor network of 41 authorised distributors, 64 dealers and 67 system integrators. Vikram Solar's domestic customers include prominent government entities, such as National Thermal Power Corporation, Neyveli Lignite Corporation and Gujarat Industries Power Company, and large private independent power producers (IPPs), such as ACME Cleantech Solutions. In the fiscal 2024-25 (FY25), Vikram Solar reported revenue from operations of ₹3,423.4 crore, up 36.3 per cent from ₹2,510.99 crore in the previous fiscal. The company posted profit after tax (PAT) of ₹139.8 crore, up 75 per cent compared to ₹79.7 crore in the FY24.

L&T Energy, Japan's ITOCHU to develop green ammonia project in Gujarat
L&T Energy, Japan's ITOCHU to develop green ammonia project in Gujarat

Business Standard

time11 minutes ago

  • Business Standard

L&T Energy, Japan's ITOCHU to develop green ammonia project in Gujarat

Homegrown L&T Energy GreenTech Ltd and Japan-based ITOCHU Corporation have joined hands to develop a green ammonia project of 300 kilo tonne per annum (KTPA) capacity in Gujarat, to target opportunities in the maritime sector. The project will come up over a land parcel acquired by parent Larsen & Toubro (L&T) at Kandla in Gujarat last year, L&T Energy GreenTech Ltd (LTEG) said in a statement on Wednesday. As per the statement, LTEG has entered into a Joint Development Agreement with ITOCHU Corporation of Japan to develop and commercialise a 300 KTPA green ammonia project at Kandla in Gujarat. "The latest collaboration supports LTEG's strategic vision to establish a presence across the green energy value chain and complements ITOCHU's initiatives to introduce low-carbon ammonia as a zero-emission marine fuel," LTEG said. Under the agreement, LTEG and ITOCHU will collaborate on the development of the green ammonia facility, with ITOCHU planning to offtake the product for bunkering applications in Singapore, it said. "The partnership with ITOCHU reflects L&T's larger vision of enabling a cleaner, greener future through sustainable business focus," Subramanian Sarma, Deputy Managing Director & President, L&T, said. A wholly-owned subsidiary of the USD 30 billion Larsen & Toubro (L&T), L&T Energy GreenTech Ltd (LTEG) is committed to delivering sustainable energy solutions across the green hydrogen value chain. The company offers integrated solutions through advanced technology, strategic partnerships, and dedicated R&D.

Nifty Pharma index rises 1.9%:  Alkem, Zydus among key gainers: Should you buy or sell pharma stocks?
Nifty Pharma index rises 1.9%:  Alkem, Zydus among key gainers: Should you buy or sell pharma stocks?

Mint

time11 minutes ago

  • Mint

Nifty Pharma index rises 1.9%: Alkem, Zydus among key gainers: Should you buy or sell pharma stocks?

Stock Market Today: The Nifty Pharma index gained 1.9% during the intraday trades on Wednesday. Alkem and Zydus stood among key gainers that led the rally The Nifty Pharma Index gained almost 2% during the intraday trade on Wednesday amid a relief rally in the Indian stock market. The Nifty Pharma Index opened at 21,803.45 levels, higher than the previous day's closing price of 21,753.50. It continued to gain further to an intraday high of 22,171.05, which meant gains of almost 2% over the previous day's close. Alkem Laboratories, Zydus Lifesciences, Laurus Labs, and Abbott India were among the key gainers that led to the rise in the Nifty Pharma pack. The US market remains critical for many Indian pharma companies. Sun Pharmaceuticals, Lupin , Dr. Reddy's, Aurobindo, Cipla, and many more derive a significant part of revenues from the US markets. Thus the danger of a 50% tax on pharmaceuticals looms, and this clearly poses a risk to the profitability of Indian pharmaceutical businesses, which rely on the US market for 30-50% of their sales. Most of these US revenues, however, come from the generic drug segment. Silver lining The silver lining remains as India remains cost-competitive compared to both the US and global peers, which should help mitigate some risks, said Ajit Banerjee, president and chief investment officer at Shriram Life Insurance. The domestic Indian pharma market (50% of the Indian pharmaceutical market) will remain unaffected by tariffs. Within the US, the impact on the generic formulations market is still uncertain, though Indian players already operate on thin margins. Tariffs could increase the drug shortages by eliminating competition in a market where pricing pressures are already intense, which could be a positive for Indian companies over the mid- to long-term, highlighted Banerjee While the recent executive order by the US Administration excludes the pharmaceutical sector from immediate tariff imposition. Any tariff action will depend on the outcome of the ongoing investigation under Section 232 of the Trade Expansion Act of 1962. Even if the India pharma tariff question is answered, Kotak Institutional expect the uncertainty to persist around whether the anticipated pharma tariffs (post the Section 232 investigation) would add to the country-specific one, definition of pharma/pharma products and then eventually how much of the tariffs are passed on and rolled back Bannerjee believes the US can either bring manufacturing back home or reduce drug prices, but not both simultaneously. Even before tariffs are finalized, the uncertainty can lead to delays in order commitments and impact sector sentiment and stock price thereby. The sector currently trades at a 1Y forward P/E of 29.7 times, above its 10-year average of 26.7x. We see tariff-induced volatility as a chance for investors to accumulate quality pharma stocks on dips, said Banerjee. Nifty Pharma has witnessed two weeks of selling pressure, especially after the recent U.S. tariff developments, as per analysts. The Pharma Index was trading near a support level on the daily time frame, where a pause in the decline was expected in the coming days, potentially leading the index towards 21,998. The outlook remains negative as long as the index fails to sustain above 22,380. On the downside, a break below 21,240 could push the index further towards the 20,380–20,140 zone, as per Kunal Kamble, Sr. Technical Research Analyst at Bonanza * Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, not Mint. We advise investors to check with certified experts before making any investment decisions.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store