Jio Financial, Zomato to Join Nifty50 Index
The Index Maintenance Sub-Committee (Equity) of the National Stock Exchange (NSE) Indices Limited has announced the inclusion of Jio Financial Services and Zomato in the Nifty50 index as part of its latest periodic review. Bharat Petroleum and Britannia will be removed.
For this semi-annual rebalancing, the index provider calculates an average free float market cap over the past six months. The same replacements will apply to the Nifty50 Equal Weight index. These changes will take effect on March 28, 2025, following the close of trading on March 27, 2025, as per an NSE press release on February 21. Jio Financial, a subsidiary of Reliance Industries, was listed in Mumbai in July 2023, while Zomato became a public company in July 2021.
Apple Lowers iCloud Data Protection in UK Amid Government Demands
Apple is disabling its Advanced Data Protection (ADP) feature in the UK following government demands for access to encrypted data, Reuters reported on February 21. ADP, which offers end-to-end encryption for iCloud backups, will no longer be available for new users, and existing users will be required to disable it.
This change allows Apple to access certain user data, such as iMessages, and provide it to authorities if legally required. Critics argue this weakens user privacy and increases the risk of exploitation by malicious actors. Apple clarified that the change only affects iCloud data, not device-level encryption, and expressed disappointment over the loss of this privacy safeguard in the UK.
ARM Expanding Bengaluru Office to Boost India Workforce
ARM Holdings, the British semiconductor and software design company, is expanding its facility in Bengaluru, Economic Times reported on February 21, citing a company executive.
A subsidiary of SoftBank Group, ARM is a leading provider of semiconductor technology that powers numerous electronic devices. The company currently employs around 2,000 people in Bengaluru and is acquiring additional office space to support workforce growth, according to Peter Stephens, ARM’s director of government partnerships. Stephens, who also chairs the UK-India Tech Forum, spoke at the CII International Conference on Artificial Intelligence.
Jack Ma’s Return Sparks Excitement in China’s Tech Sector
The reappearance of Alibaba founder Jack Ma at a meeting with Chinese President Xi Jinping and top business leaders on February 17 has fueled speculation about his rehabilitation and the future of China’s tech sector. Ma had largely withdrawn from public life since 2020, after criticizing China’s financial system.
Analysts see his presence as a positive signal, boosting tech stocks, including Alibaba. Social media celebrated his return, with many viewing it as an encouraging sign for China’s economy. Additionally, Alibaba Group announced plans to invest at least RMB 380 billion ($53 billion) in AI and cloud computing over the next three years.
Probus Smart Things Secures $5 Million in Series-A Funding
Probus Smart Things has raised $5 million in a Series-A funding round led by Unicorn India Ventures, including equity and debt financing. This brings its total funding to over $8 million.
The funds will enhance its communication technology for smart grids and renewable energy applications while integrating AI. The round also saw participation from US-based and Indian family offices.
“Their tech-backed, scalable solution and AI integration are proven,” said Anil Joshi, managing partner at Unicorn India Ventures. Recently, Probus secured an order to supply its technology to Tata Power Delhi Distribution, as per a February 21 press release.
