BusinessLine (Chennai)
Robust FPI flows sustain stock market’s winning streak in Nov
The stock market has been on a roll in the first week of November, with the Nifty50 rising 8.58 per cent. The rally has been largely driven by foreign portfolio investors (FPIs), who made net investments of $4.11 billion in this period, making India...
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Centre eyes advanced EVs in major green mobility push
The government is considering a new umbrella category — advanced electrified vehicles (AEVs) — for passenger cars with large batteries, as it moves towards a multipowertrain approach to green mobility that goes beyond pure electric vehicles...
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Democrats win control of Senate, House in mid-terms
Democrats seized control of both the Senate and House of Representatives on Tuesday, scoring sweeping victories in Republican strongholds for the first time in generations as tens of millions of voters delivered a scathing rebuke to President Donald...
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SBI Q2 profit jumps 14% on stake-sale gain; NII up 15%
State Bank of India reported a 14 per cent yearonyear increase in net profit at ₹23,038 crore for the quarter ended September 30, 2026, aided by gains from the sale of its stake in SBI Fund Management. The country’s largest lender had posted a profit...
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Surge in Reliance lifts Sensex by 1.6%; Nifty tops 23,400
A nearly 12 per cent surge in Reliance Industries, its thirdbiggest singleday gain in the past 10 years, powered Indian equities sharply higher on Monday. The stock accounted for about 61 per cent of the Sensex’s gains and nearly half of the Nifty...
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Festive demand drives PV wholesales by 13% in Oct
Driven by strong festive demand in showrooms, passenger vehicle wholesales grew by approximately 13 per cent yearonyear (yoy) in October, reaching an estimated 5.3 lakh units against 4.65 lakh units during the same period last year. Original...
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India or US, innovation is the only game in town
Foreign investors have never been this bearish on India, or so the latest market chatter goes. Just two years ago, they could hardly get enough of Indian equities. How quickly sentiment changes! Meanwhile, a section of Dalal Street apparently believes...
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Noel Tata seeks board vote on Tata Sons restructuring
Tata Trusts Chairman Noel Tata is pushing for a decision on the restructuring of Tata Sons and the provision of ₹25,000 crore in liquidity support to the Shapoorji Pallonji (SP) Group at the holding company’s next board meeting on November 26. Tata...
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No change in prices of over 100 cancer drugs despite margin cap
The needle has not moved on the prices of over 120 of the 643 cancer medicines featuring in the latest updated list of revised prices released by the National Pharmaceutical Pricing Authority (NPPA). This has led healthcare experts to question whether...
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Air India’s Q1 loss doubles to ₹6,000 cr amid headwinds
Foreign exchange fluctuations, persistently high fuel costs and airspace closures widened Air India Group’s net loss to over ₹6,000 crore in the first quarter of FY27, against more than ₹3,000 crore a year earlier, industry sources told...
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India’s crude basket price tops $120/bbl on W. Asia war
The average crude oil import basket price rose by almost 4 per cent monthonmonth (mom) in October to surpass the $120 per barrel mark as the conflict in West Asia exacerbated geopolitical uncertainty and pushed up marine insurance premiums and...
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Noel Tata seeks records of key Sept 17 Tata Sons board meet
Tata Trusts Chairman Noel Tata has sought the records of the September 17 Tata Sons board meeting that approved N Chandrasekaran as Chairman for a third term and questioned his (Chandra) family’s business relations with the TVS group, headed by fellow...
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US-India trade deal in slow lane despite Rubio’s optimism
Despite US Secretary of State Marco Rubio’s optimism that 99 per cent of the deal is complete and an announcement could follow within weeks, the IndiaUS interim trade pact remains stalled over Washington’s insistence on higher import tariffs, with New...
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MF Davids give Goliaths a run for their money
In India’s over ₹87lakh crore mutual fund industry, some of the smallest Davids are giving the biggest Goliaths an uncomfortable lesson in investment performance. Not through superior distribution networks or decades of experience, but through equity...
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Individual service exporters in a fix due to forex reporting chaos
Some banks are following January rules, amid the lack of RBI clarification from the central bank. “We are hearing from banks that they expect the RBI’s FAQs on this within the next one to two weeks. This could possibly clarify the exemption for...
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Jio Platforms IPO dents investor bandwidth for listed stocks Navratri sales: Rasgulla, vrat thali most ordered on q-comm platforms
The benchmark indices extended their decline, with market participants attributing the weakness not only to elevated crude oil prices and geopolitical uncertainties but also to the massive liquidity absorption by the ongoing Jio Platforms IPO. While...
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EMudhra security flaw triggers investigation by CERT-In
A “process gap” by digital trust services provider eMudhra has put internet users on alert for phishing risks and wary of threat actors impersonating websites as eight trust certificates issued by the company to websites/software stand...
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Marco Rubio seeks to step up energy trade with India
US Secretary of State Marco Rubio on Tuesday pitched for expanded energy trade with India and greater cooperation in refining Venezuelan crude oil as Washington and Delhi move closer to finalising a trade deal. Rubio, on a twoday visit to India, met...
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Weak monsoon cools banks’ rural lending push
Banks and nonbanking financial companies (NBFCs) are slowing the growth of their agriculture, rural and farmloan portfolios, reflecting a riskoff approach amid concerns over deficient rainfall and potential fallout from El Nino conditions. Results...
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When stock valuations go wrong, blame taxes
Those were the days. On September 26, 2024, the Sensex closed at an alltime high of 85,836.12 points. Multibaggers were everywhere, compounders were fashionable, and valuations were an inconvenience best left to oldfashioned investors. Two years...
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FM moots Re trade to help nations facing forex crunch
India seeks to promote rupee-denominated trade settlement to assist partner nations facing hard-currency shortage and ensure uninterrupted supply of essential goods, Finance Minister Nirmala Sitharaman said on Friday. She also voiced optimism about an...
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SC upholds Bombay HC order quashing Yes Bank AT-1 write-off
The Supreme Court on Thursday upheld the 2023 Bombay High Court judgment quashing Yes Bank’s March 14, 2020, decision to write down Basel IIIcompliant Additional TierI (AT1) bonds worth ₹8,415 crore, in a major setback to the private lender and...
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FM’s remarks on LTCG tax and STT lift markets
Finance Minister Nirmala Sitharaman’s expressed “keenness” to hear the debate on the Long Term Capital Gains (LTCG) Tax and the Securities Transaction Tax (STT) lifted investor sentiment on Tuesday. The Finance Minister also said that the Reserve Bank...
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Retail inflation hits 21-month high in Sept on higher food prices
Retail inflation rose to a 21month high of 5.54 per cent in September, as a low base a year ago amplified the impact of rising food prices, signalling that price pressures are strengthening beyond a statistical rebound. Inflation, measured by the...
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India rules out special favours for Starlink as ties with US sour
India is not inclined to extend any special treatment or relax regulatory requirements for Elon Musk’s Starlink amid deepening strains in bilateral ties, maintaining that American businesses must follow the same rules and security procedures as other...
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Overseas ETFs: Nearly 30% of turnover at inflated prices
With Indian equities delivering paltry returns over the past twoandahalf years, many investors have turned to overseas markets in search of better opportunities. However, this shift towards global investments, particularly US technology and...
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India slams US move to keep IT firms out of PERM
The Ministry of External Affairs has criticised the US decision to freeze the permanent labour certification (PERM) process for select tech firms such as TCS, Infosys, HCL and Wipro, warning that curbs on mobility of Indian professionals undermines the...
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GST Council ends arrest powers of tax officers, lowers penalties
The GST Council on Thursday recommended significant tax administration reforms, including the elimination of arrest powers for GST officers, an increase in the threshold for criminal prosecution and a reduction in general penalties. The Council also...
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RBI turns hawkish, raises repo rate by 25 bps to 5.5%
The Reserve Bank of India’s ratesetting panel, after a gap of nearly four years, kicked off a fresh ratehike cycle on Wednesday. The central bank raised the repo rate by 25 basis points (bps) to 5.5 per cent amid rising inflationary pressures driven...
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Govt weighs delaying Adani’s Mumbai airport shift plan
An extension of the October 26 deadline for shifting flights from Mumbai airport to Navi Mumbai airport, along with additional incentives for airlines, are among the proposals being considered to resolve the standoff between airlines and Adani...
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Air India, Express may share key teams in cost-cutting push
Tata Sonsled Air India Group is examining a proposal to integrate some key departments of Air India with those of Air India Express to reduce duplication and costs, sources told businessline. The proposal envisages common teams for identified...
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RBI seen raising repo rate by 25 basis points this week
Bankers expect the RBI’s Monetary Policy Committee (MPC) to raise the policy repo rate by 25 basis points (bps) on Wednesday, with a majority also expecting the MPC to deliver a cumulative 5075 bps rate hike by the end of FY27, according to a poll of...
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Equity bulls have a new competitor in global bonds
‘…bond markets are continuing to function in an orderly manner’ — this was the IMF’s reading of global bond markets last week, even as yields were surging across major economies. Economist and Allianz Chief Economic Advisor Dr Mohamed ElErian...
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Centre fortifies AI mission with sovereign compute pool
The Centre is moving to build a pool of governmentcontrolled artificial intelligence (AI) ecosystem by adding 10,000 GPUs of computing capacity, according to sources. The government is working with the Centre for Development of Advanced Computing...
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ITC reliefs top GST Council agenda for October 7 meeting
The GST Council is expected to consider a proposal to unblock Input Tax Credit (ITC) for employee insurance policies, outdoor catering, free samples and goods destroyed or written off. The proposal also leaves the decision on unblocking ITC for motor...
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CAFE-III norms notified, push for fuel-efficient PVs
After much deliberation since April 2024, the Centre on Wednesday notified the third phase of Corporate Average Fuel Economy (CAFEIII) norms that end the debate of small versus big cars or electric vehicles versus nonEVs by replacing the proposed...
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Rosatom in talks with RIL, Adani, NTPC for N-projects
Russia’s stateowned nuclear energy corporation Rosatom is in talks with some of India’s biggest corporate and governmentowned power companies, including the Adani Group, Reliance Industries, the Jindals and NTPC. The company is looking to...
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Noel Tata moots merger of 2 group firms with Tata Sons to keep it private
Tata Trusts Chairman Noel Tata has proposed the merger of two Tata Group companies with Tata Sons Private Ltd (TSPL) in an effort to keep the holding company private and outside the ambit of the Reserve Bank of India’s regulations governing upperlayer...
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‘US trade deal could shield India from 100% tariff risk’
An IndiaUS trade deal could protect India from the full 100 per cent tariff authorised under the Lindsey O Graham Sanctioning Russia and Iran Act of 2026, while also shielding it from potential action in the ongoing Section 301 investigation into...
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New-age IPOs: Five years on, still show-me stories
“Show me the money,” the memorable line from Tom Cruisestarrer Jerry Maguire, could well be the market’s refrain for India’s newage IPOs five years on. Back in 2021, when a clutch of these companies hit the stock market, investors were asked to look...
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US tariff threat: India ‘will not’ compromise on energy security
Commerce Minister Piyush Goyal’s bilateral discussions with US officials on the sidelines of the G20 Trade Ministers’ meeting in Milwaukee next week, are expected to centre around the Lindsey Graham legislation targeting buyers of Russian energy,...
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IRDAI reform ‘may force distributors to completely rethink business model’
While insurance regulator IRDAI has proposed a major reform in distribution norms by sharply cutting commission payouts across products to bring down distribution costs and benefit customers, the steep cut could make insurance distribution unviable,...
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FSSAI cracks down on e-comm sites for misleading claims
The Food Safety and Standards Authority of India (FSSAI) has initiated penal action against key ecommerce and quick commerce platforms for sale of products found to be allegedly noncompliant with regulations. The food safety regulator on Wednesday...
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Stork sister Purnima is bl Changemaker of Year; BRO, MR Rajagopal are Iconic Changemakers
In an inspiring ceremony charged with emotion, gripping stories of human achievement and a mellifluous classical fusion performance, Finance Minister Nirmala Sitharaman presented businessline’s Changemaker of the Year award to grassroots...
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NSE’s mega IPO subscribed 5.71 times led by QIBs; retail portion booked 1.4x
The initial public offering (IPO) of the National Stock Exchange of India (NSE) closed on Monday with the issue subscribed 5.71 times, driven by strong demand from qualified institutional buyers (QIBs) and noninstitutional investors (NIIs). Per the...
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For India, border peace with China comes before trade ties
India is not ready to offer big concessions to China on trade and investment until there is greater assurance on peace and stability along the border despite the recent highlevel economic engagement between the countries during Chinese President Xi...
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The great Indian bull market paradox
The ongoing bull market, now 2,370 days old, is the longestrunning in India, yet it may not feel so for many who entered Dalal Street for the first time in recent years. For years, stock market investors had little patience for fixed deposits....
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Nestle India faces FSSAI action over infant food claims
The Food Safety and Standards Authority of India (FSSAI) has initiated legal action against Nestle India over alleged noncompliance of food safety regulations involving three of its infant nutrition products. The food safety regulator on Friday...
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Chandra gets 3rd term at Tata Sons, Noel opposes it
A bitter boardroom confrontation erupted at Tata Sons on Thursday as directors voted to give N Chandrasekaran another fiveyear term as Executive Chairman, despite opposition from majority shareholder Tata Trusts, whose Chairman Noel N Tata told the...
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India faces 100% tariff if US House passes sanctions Bill
The US House of Representatives is set to vote on the Lindsey O Graham Sanctioning Russia and Iran Act of 2026 on Wednesday which, if passed and signed into law by US President Donald Trump, could give him the authority to impose tariffs of up to 100...
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G-Sec yields hit four-month high on RBI OMO sales push
Government bond yields surged on Tuesday, with the benchmark 10year Gsec briefly testing the crucial 7.1 per cent mark amid concerns over RBI liquidity tightening, heavy debt supply and adverse global cues. The benchmark 10year yield opened at 7.09...
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Govt to unveil cloud policy to ring-fence critical data
The Government of India is expected to announce a unified cloud sovereignty framework in the coming days, aimed at ensuring that all government entities retain control over the country’s missioncritical data, sources told businessline. Following...
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India forges BRICS consensus amid W. Asia split
India pulled off a critical diplomatic balancing act at the BRICS Summit on Saturday, securing consensus among all 11 membernations on a joint declaration that voices serious concern over the rise of “unilateral tariff and nontariff measures” running...
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NSE prices IPO at ₹1,7001,785 targeting ₹22,000 crore; issue opens on September 17 Anthropic report flags dangerous rise of weaponised AI
The National Stock Exchange’s ₹22,000croreplus IPO, priced in the ₹1,7001,785 band, against the Street expectation of over ₹2,000 per share, has prompted several existing shareholders to scale back their planned stake sale. Investors are eventually...
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FCNR(B) liquidity to take 3-4 months to deploy: SBI chief
Banks are unlikely to immediately deploy the funds generated through FCNR(B) deposits, with the process expected to take another threefour months, according to Challa Sreenivasulu Setty, Chairman of State Bank of India (SBI). “I think everybody will...
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India Inc taps corporate bond market on surplus liquidity
India Inc is increasingly tapping the domestic bond market to raise funds, taking advantage of surplus liquidity in the banking system following the RBI’s measures to attract foreign capital. This also comes amid expectations that interest rates could...
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Apple launch event today: Foldable iPhone, AI integration, and a new face on the stage PM for linking UPI with other nations’ payment systems
Apple’s ‘Surprise and Shine’ launch event on Wednesday night has generated high anticipation on many counts. Besides being CEO John Ternus’ first public event, analysts believe Apple’s muchanticipated entry into foldables, deeper integration of...
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JLR to axe 4,000 jobs in 2 years to ringfence TaMo earnings
Tata Motorsowned Jaguar Land Rover (JLR) will cut around 4,000 jobs globally, targeting £1.7 billion in savings over the next two years as it responds to a sharp deterioration in earnings and cash flows amid weaker demand, tariff pressures and...
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Strong prices expected for most kharif crops insurance gets a
With the kharif crops set to arrive in the mandis in about 10 days, farmers in top-producing States are expected to receive favourable market prices. The only notable concerns are bajra (pear millet) and moong (green gram), which are lagging behind at...
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Mutual funds spread wider, bet lighter on IPOs
Veteran fund manager Samir Arora just days ago suggested that mutual funds stay away from IPOs for 30 days, arguing that the relentless supply of fresh paper has been weighing on the market. With domestic equities making little headway for quite some...
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Most of FCNR(B) flows came due to the leverage facility
About 80 per cent of the total $127.23 billion invested by NonResident Indians (NRIs) in the special Foreign Currency NonResident (Bank) FCNR(B) deposits — offered by banks through the RBI’s limitedperiod concessional swap facility — came through...
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‘This GDP growth number did not come out of nowhere’
Questions have been raised by some commentators over the veracity of the first quarter FY27 GDP data released by the Centre on Monday. businessline caught up over the phone with Chief Economic Advisor V Anantha Nageswaran, who’s travelling in the US,...
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Ahead of Xi’s New Delhi visit, Indian team may go to China
India is likely to send a highlevel delegation to China early next week, possibly led by Commerce Secretary Rajesh Agrawal, to advance talks on pending trade and investment issues. Ahead of President Xi Jinping’s expected visit to New Delhi for the...
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Fivemember NCLT Bench stays Subhash Chandra’s ₹6.25crore repayment plan
A fivemember Bench of the National Company Law Tribunal (NCLT) has stayed a smaller Bench’s August 25 order approving a ₹6.25crore repayment plan proposed by Essel Group founder Subhash Chandra, observing that there was no clear majority view among...
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GDP accelerates to 7.8% in Q1 on all-round growth
Gross domestic product (GDP) grew 7.8 per cent in Q1 FY27 to ₹81.36 lakh crore, compared with a revised 6.9 per cent in the yearearlier quarter, despite the disruptions in West Asia, elevated energy prices and global trade uncertainties. Chief...
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‘LIC may raise stake in NSE, eyes reach in every panchayat’
bl interview Life Insurance Corporation of India (LIC), one of the largest shareholders in the National Stock Exchange (NSE) with a 10.72 per cent stake, may consider increasing it in the bourse once the muchawaited initial public offering is...
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Chasing global AI stocks getting riskier by the day
The RBI Bulletin released last week revealed an interesting factoid — that outward remittances by resident individuals for overseas investments reached $457 million in June — the highest ever. Given the scale and the lure of AI trade in overseas...
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Jio Platforms gets SEBI nod for a record ₹37,700crore IPO
Reliance Industries’ digital arm Jio Platforms on Friday received SEBI’s nod to float India’s largestever initial public offer of about ₹37,700 crore. The company received the observation letter on the Draft Red Herring Prospectus filed for its...
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BRICS Summit may push for cross-border payment systems
The BRICS Summit in New Delhi next month is likely to push for mechanisms to facilitate crossborder payments between members, including links between digital payment systems and central bank digital currencies (CBDCs). India has projected this as a...
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FM pitches for Canadian investment in new sectors
The government has stepped up its outreach to global investors with Finance Minister Nirmala Sitharaman beginning her nineday tour of Canada and the US by strongly pitching India as the fastestgrowing major economy offering a combination of scale,...
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Persisting retail F&O losses spur call for tighter eligibility filters
Nearly two years after the Securities and Exchange Board of India (SEBI) launched a series of measures to curb excessive retail speculation in the derivatives market, industry participants are increasingly backing tighter eligibility and suitability...
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CEO exits rise at India Inc, stocks feel investor heat
India Inc is seeing a rise in CEOs exiting before completing their terms, with some departures causing investor unease, as reflected in stock price movements. The number of Nifty500 company chiefs who exited rose sharply in FY26, with nearly 42 per...
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SBI targets ₹200 lakh crore business in four years
The State Bank of India, the country’s largest lender, has set its sights on its next big landmark — building a ₹200 lakh crore business franchise. Having already crossed ₹100 lakh crore in combined deposits and advances in the second quarter of FY26...
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US bond turmoil signals rising global macro pressures
James Carville, lead strategist for former US President Bill Clinton, famously remarked that if reincarnation exists, he would want to come back as the bond market because it can intimidate everybody. History provides ample evidence of this power. Past...
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Centre notifies ₹62,500 crore mobile phone making scheme
The Centre on Friday notified the ₹62,500 crore Mobile Phone Manufacturing Scheme (MPMS) to provide productionlinked incentives (PLI) for making in India and to support Indian brands. The scheme aims to increase India’s global competitiveness by...
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SBI widens cash withdrawal charges to all basic accounts ‘to plug fee income leak’
The State Bank of India, the country’s largest lender, has expanded the scope of cash withdrawal charges for basic savings bank deposit accounts, a move industry sources say is aimed at plugging a leakage in fee income, while also nudging customers...
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