A corporate drama is playing out in the open, with Cyrus Mistry alleging that former Chairman Ratan Tata was pulling the strings backstage all along, reducing him to no more than a puppet. He highlighted bad decisions to keep debt-ridden businesses like the Nano car going, and was allegedly asked to ignore fraudulent transactions - things that suggest all is not well with the Tata Group's balance sheets. Tata companies have taken quite a beating in the stock markets as a result, losing Rs. 50,000 crore in market cap since the inter-management war broke out. Tata Motors has taken the biggest dive, losing Rs. 32,000+ crore in shareholder wealth, and TCS saw its 50 day average fall below its 200 day. 

Chanda Kochhar has come out bullish for AI, saying that robots and artificial intelligence are reducing ICICI's error rates, and have also been cost-effective. ICICI has been particularly aggressive with AI investments, recently announcing that 20% of front office work is being automated in the bank. 

Stock in spotlight: Hindustan Unilever saw a dip in sales volume in its quarterly results for the first time in over seven years (30 quarters). The company saw sales fall in when it increased prices due to the rise in commodity costs. The company is currently trading below its 200 day SMA. 

Photo of the day: An abandoned airplane becomes a home to squatters in Bangkok, Thailand. Lauren Decicca/Guardian