BusinessLine (Chennai)
India unlikely to curb Russian oil purchase despite US threat
India is unlikely to rein in crude oil purchases from Russia, its largest oil supplier, despite mounting pressure from Washington, with the US Senate overwhelmingly passing a sanctions Bill empowering President Donald Trump to impose tariffs of up to...
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Retail participation in IPOs turns lacklustre as investors eye quality over listing gains
Notwithstanding the early signs of a revival in the primary market, retail participation in initial public offerings (IPOs) has remained lacklustre as investors have focussed on the quality of issuances over the lure of listing day gains. Of the 12...
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CBI chargesheet exposes NEET paper leak network
The CBI chargesheet in the NEETUG 2026 examination paper leak scandal shows that questions were allegedly passed from NTAappointed subject experts to middlemen and finally to candidates, both physically and through social media platforms including...
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Tata Sons listing hinges on RBI’s de-registration call
The RBI’s latest list of nonbanking financial companies (NBFCs) in the upper layer for 202627 has once again put the spotlight on Tata Sons and revived a key question: Will the holding company eventually have to list, or could it get regulatory...
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Closing auction: Nifty swings on Day 2 raise eyebrows
The sharp swings in the Nifty 50’s official closing value for a second straight session on Tuesday have intensified the debate around SEBI’s newly introduced Closing Auction Session (CAS), with settlement prices for weekly derivatives expiry getting...
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Closing price discovery catches traders off-guard as CAS lifts Nifty 200 points
The Nifty 50’s official closing value surged nearly 200 points after continuous trading ended on Monday, surprising market participants on Day 1 of the Closing Auction Session (CAS) for futures and options (F&O) stocks. The Nifty 50 ended at...
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RBI funding restrictions hit derivatives trading volumes
The RBI’s tighter funding norms for capital market intermediaries have started reflecting in derivatives trading volumes, with turnover in NSE’s index futures and options segment declining sharply in July. Market participants, however, believe the...
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India’s active MFs lag benchmarks, yet beat global peers
Indian activelymanaged equity funds continue to struggle to consistently outperform their benchmarks , particularly in large and midcap categories. Yet, compared with active funds in most major markets, their record remains relatively favourable. A...
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Windfall dividends, divestment receipts give govt fiscal cushion
Higherthanexpected dividend and surplus payouts by the Reserve Bank of India and staterun financial institutions have provided the Centre muchneeded fiscal elbow room. Total collections under this head have already outpaced the fullyear Budget...
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AERA moots big overhaul of airport tariff structure
The Airports Economic Regulatory Authority (AERA) has suggested increasing the use of nonaeronautical revenue (NAR) to offset airport charges in a move that could substantially reduce user development fee (UDF) and other aeronautical levies paid by...
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In FCNR (B) race, small banks raise deposit rates to woo NRIs
Small and midsize banks, not wanting to be left behind in the race to mobilise fresh foreign currency nonresident (bank), or FCNR (B), deposits, are playing the “interest rate” gambit. These banks are overcoming the inability to offer leverage to...
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MSRDC case: HDFC Bank board warns CEO, CFO, staff
The board of HDFC Bank has decided to issue warning letters and impose a monetary penalty of ₹1 lakh each on Managing Director and CEO Sashidhar Jagdishan, the Chief Financial Officer, and the Group Head of Retail Assets in connection with the...
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Inflation remains RBI’s foremost priority: Governor
Mumbai Reserve Bank of India Governor Sanjay Malhotra has said that inflation control remains the RBI’s foremost priority even as it remains mindful of growth risks. He said the Monetary Policy Committee (MPC) would continue to adopt a datadependent...
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IT’s a chasm between management and investors
As another lacklustre earnings season from IT services companies concludes, the contradictions between managements and investors have already been starker. From global industry leader Accenture, which reported results last month, to Infosys, which...
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US levies lower 10% tariff on India; trade concerns remain
India has secured a lower 10 per cent US tariff under Washington’s new Section 301 forcedlabour regime, placing it on par with Bangladesh, Sri Lanka, Indonesia, Malaysia and Pakistan after New Delhi tightened its import rules to prohibit goods made...
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Infosys Q1 net slips 8.6% q-o-q, trims FY27 revenue guidance
Infosys entered FY27 on a cautious note, moderating its constant currency revenue growth guidance to 1.53 per cent and lowering the upper end of its earlier forecast. In the June, or the first quarter of FY27, revenue climbed 3.9 per cent...
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Government plans aviation reforms to spur new airlines
Against the backdrop of an increasingly concentrated domestic aviation market, the Centre is preparing a comprehensive package of structural reforms aimed at lowering barriers to setting up new airlines, intensifying competition and attracting fresh...
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To support rupee, NPS may be opened to NRI, OCI dollars
To bolster the recent government and RBI measures to attract foreign capital, plans are under consideration to allow nonresident Indians (NRIs) and overseas citizens of India (OCIs) to subscribe to the National Pension System (NPS). This proposal...
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NEET leak: Lakhs march to Parliament, seek Pradhan’s exit
The removal of activist Sonam Wangchuk from his over20day fast at Jantar Mantar, followed by a call for a march to Parliament on the opening day of the Monsoon Session, elicited a massive response in the national capital on Monday. Lakhs of...
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Armenia and Saudi Arabia among six nations eyeing India’s battle-tested Astra missiles Prodigies create golden alchemy at Chemistry Olympiad
An inprinciple agreement between India and Indonesia for Astra beyondvisualrange (BVR) airtoair missiles, announced during Prime Minister Narendra Modi’s visit to Jakarta earlier this month, has further boosted global interest in the indigenous...
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The valuation U-turn bank investors missed
India, as the fastest growing major economy, has had the weakest performing large private banks. Large private lenders — HDFC Bank, Kotak Mahindra Bank and Axis Bank — have not only lost the race to PSU peers in terms of shareholder returns, but also...
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Reliance Ind revenue jumps 25% in Q1 led by O2C and Jio
Reliance Industries reported a robust set of Q1 FY27 earnings, with strong performances from its oiltochemicals (O2C) and telecom businesses helping it surpass street expectations. While reported profit declined due to a high base from a onetime gain...
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Govt floats CAFE-III with super credits, carbon trading
A day after issuing draft amendments to the existing CAFEII regulations, the Ministry of Power (MoP) on Thursday released the draft Corporate Average Fuel Economy (CAFEIII) norms for 2027 and invited comments from stakeholders. The new norms, which...
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₹1.9lakhcr boost for phone manufacturing, chipmaking
The Union Cabinet on Wednesday approved a new ₹62,500 crore Mobile Phone Manufacturing Scheme aimed at driving deeper localisation and domestic design in India’s hightech manufacturing sector over the next five years. Slated to run from financial...
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New Services Index out; 14 sub-sectors grow strongly
The government on Tuesday unveiled the trial Index of Services Production (ISP), a new highfrequency indicator that showed formal services activity remained resilient in April despite the West Asia conflict, with 14 of the 19 subsectors tracked...
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FM asks banks to step up NRI outreach to boost forex inflows
Finance Minister Nirmala Sitharaman on Monday urged public sector banks (PSBs) to step up their outreach to NonResident Indians (NRIs) to sustain the momentum in foreign currency inflows, even as lenders said fundraising through external commercial...
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TCS backs sovereign AI, in talks with Indian developers
Amid growing concerns over AI sovereignty and access to frontier models, TCS has begun discussions with Indian AI model developers, and said the country will need sovereign AI capabilities for sensitive workloads. “India will need a sovereign model...
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SME IPO mirage: Debut dazzle, long-term damage
India’s SME IPO market, with far lighter listing requirements than the mainboard, has rarely lacked takers. How else can one explain frenzied bidding for a twoshowroom motorcycle dealer, a regional chakki atta maker or a farming business deriving most...
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Ethanol blending to shield users from oil shocks: Govt
The Centre on Friday argued that the ethanol blending programme is to shield consumers from global crude oil price shocks rather than reducing petrol prices at the pump, even as it acknowledged that E20 petrol is costlier to produce than conventional...
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TCS holds steady as net profit rises 4.7% in Q1
The net profit of Tata Consultancy Services (TCS) grew 4.7 per cent to ₹13,420 crore for the first quarter of FY27, led by positive annual growth across most verticals and AI transformationfocused deals. Net profit declined 2.6 per cent on a...
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Sensex tanks over 2% as crude rises on West Asia war fears
Indian equities witnessed their sharpest singleday decline in four months on Wednesday after a sharp deterioration in global risk sentiment triggered by US President Donald Trump’s remarks suggesting the ceasefire with Iran had effectively collapsed,...
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RBI lending restrictions dent proprietary derivatives trading
The RBI’s move to tighten bank lending for proprietary trading in the equity derivatives market from July has become evident in the sharp decline in trading turnover over the last four trading sessions. The average daily turnover (ADT) in the...
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AAI builds new runway into pilot training business
The Airports Authority of India (AAI) is preparing to enter the country’s pilot training ecosystem by establishing Full Flight Simulator (FFS) and Type Rating Training Organisation (TRTO) facilities across its airport network, marking a strategic...
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Private banks log robust growth in Q1FY27
HDFC Bank, Kotak Mahindra Bank (KMB), YES Bank and AU Small Finance Bank have reported robust growth in deposits and advances in the first quarter (Q1FY27), per their provisional numbers. HDFC Bank’s deposits and gross advances increased by 14.7 per...
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Top IT stocks stare at great valuation reset
Welcome to the new guessing game in town, that is, ‘Are IT stocks cheap?’. The debate has been raging the last six months and each time it appears cheap enough, another blow knocks it lower. A few weeks back it was Accenture’s disappointing outlook...
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The time is now right for a dedicated law on AI: MeitY
After years of a lighttouch regulatory approach towards artificial intelligence (AI), making rules when required, the Centre on Friday signalled a shift in India’s AI policy by underlining that the time has come for formulating a dedicated regulatory...
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SC scraps tribunal rulings over fake AI precedents
In a landmark ruling that could shape the use of artificial intelligence in India’s legal system, the Supreme Court on Thursday set aside judgments of the National Company Law Tribunal and the National Company Law Appellate Tribunal after finding that...
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Govt asks Meta to pause WhatsApp user names rollout over fraud risks
Following the recent introduction of WhatsApp’s ‘user names’ feature, the Centre has issued a formal notice to Meta, seeking a detailed explanation of the new functionality within three days. “The government has directed Meta not to roll out the ‘user...
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Govt clears ₹1.25 lakh cr for Semicon Mission 2.0
The Finance Ministry has approved a budget proposal of approximately ₹1.25 lakh crore for the India Semiconductor Mission 2.0 (ISM 2.0). This funding supports the expansion of domestic chipmaking facilities and aims to attract global companies,...
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Little political appetite in Delhi to seal US trade pact right now
There is currently little political appetite in India to conclude the proposed bilateral trade agreement (BTA) with the US as any deal that imposes a disproportionate tariffreduction burden on the country, particularly in the politically sensitive...
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India eyes discounted Iranian oil after US waiver
India is keen to take advantage of the 60day US sanctions waiver on Iranian oil by resuming imports of discounted crude from Tehran, although some refiners may wait to see if there will be more operational guidance from the US Treasury’s Office of...
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Will old adage of ‘dumb money’ return?
For much of market history prior to the Covid crash in March 2020, retail money was often termed ‘dumb money’. But as with everything in markets, nothing lasts forever. Post the crash, retail investors turned the tables and bought aggressively. In...
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SEBI scuttles Reliance Infra bid to settle ₹6,526 crore case
The Securities and Exchange Board of India (SEBI) has rejected the settlement applications filed by Reliance Infrastructure and Anil Ambani in a case relating to the company’s exposure of ₹6,526 crore to engineering contractor CLE Pvt Ltd, according to...
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Amazon raises India investment by $13 billion for AI, cloud infra
Amazon plans to invest another $13 billion in India, raising its total planned investment in the country to $48 billion by 2030, Global CEO Andy Jassy announced on Thursday after meeting with Prime Minister Narendra Modi. This topup comes just six...
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India-US trade talks progress, pact timeline remains elusive
Two days of intense negotiations between US Trade Representative Jamieson Greer and Commerce Minister Piyush Goyal ended on Wednesday without a breakthrough on the proposed interim bilateral trade agreement (BTA). Both sides reported “substantial...
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NSE, SBI Mutual Fund IPOs may yield ₹5,400 cr tax bonanza
The proposed initial public offerings (IPOs) of the National Stock Exchange (NSE) and SBI Mutual Fund are set to deliver a double bonanza — hefty gains for selling shareholders and a sizeable tax windfall for the Centre. Since both the issues are...
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Kunal Shah to lead WhatsApp as Meta pumps $900 m into CRED
Meta is investing $900 million (about ₹8,550 crore) into fintech start-up CRED, valuing the company at $4.5 billion, while founder Kunal Shah will step away from the business to take over as the global head of WhatsApp, marking one of the most...
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Centre plans to set up seven defence manufacturing clusters
For the first time, the Centre is working towards creating clusters of States and Union Territories, each backed by dedicated IITs and other centres of excellence, to build a federal architecture for defence manufacturing aimed at reducing import...
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Domestic flows help cash market defy correction
Indian equities may have fallen sharply in early 2026, but the cash market did not freeze. On the contrary, trading activity increased. The average daily turnover (ADT) in the cash market climbed from ₹1.02lakh crore in December 2025 to ₹1.35lakh...
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Jio files for likely record IPO as focus shifts to monetisation
Jio Platforms, the digital and telecom arm of Reliance Industries, has filed draft papers with the Securities and Exchange Board of India for what could become India’s biggestever initial public offering, as the company pivots from a decadelong...
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Trump’s Iran deal extends ceasefire, opens Hormuz
US President Donald Trump formally agreed to an interim peace deal with Iran, shifting focus to the planned reopening of the Strait of Hormuz and a complex 60day negotiating period over Tehran’s nuclear programme. Trump signed the socalled memorandum...
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Modi, Trump talk trade pact, seamen safety on G7 sidelines
US President Donald Trump said that the IndiaUS trade deal was “very close” to being finalised but maintained that the talks have been at this stage for a while as Prime Minister Narendra Modi is a “very tough negotiator”. “We’ve been there for a...
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Banks dangle mega returns to lure NRIs to FCNR(B) deposits
In a bold push to attract global Indian capital, Indian banks are spotlighting their FCNR(B) deposit scheme with a headlinegrabbing promise: Dollar returns of up to 14 per cent annualised and paired with a leverage facility. Aimed squarely at...
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Markets surge on W. Asia ceasefire hope, oil slide
Markets gained sharply on Monday after early signs of easing geopolitical tensions in West Asia lifted investor sentiment, though analysts cautioned that the upside may remain measured. A preliminary understanding between the US and Iran to reopen the...
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Wheels turn for $10 billion US tariff refunds to India
The process of repatriating more than $10 billion in US reciprocal tariff refunds to Indian exporters has begun, following detailed administrative guidelines issued by US Customs and Border Protection (CBP) and a key clarification from the Reserve Bank...
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Hot global markets, narrow bets: India stands apart
Would investors rather back a diversified market, or saddle up on a onetrick pony with a shiny AI chip on its mane? Strangely enough, many global funds seem to be choosing the pony. Overseas investors have flocked to markets such as Taiwan and South...
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Pricey food, fuel push May retail inflation to 16-month high of 3.93%
Retail inflation rose to a 16month high of 3.93 per cent in May, up from 3.48 per cent in April, fuelled by rising food, energy, and precious metal costs. Government data released on Friday revealed a steep 43 per cent increase in the headline rate...
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Rafale deal unlikely during PM Modi’s visit to France
The estimated ₹3.25 lakh crore governmenttogovernment defence deal with France for 114 Rafale fighter jets is unlikely to be announced during Prime Minister Narendra Modi’s upcoming twoday visit to Paris, starting on Saturday. More significantly,...
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Equity MF inflows slump 40% in May over April
Volatility in equity markets and concerns over economic growth dampened inflows into mutual fund schemes, including SIPs, in May. According to AMFI data released on Wednesday, equity inflows fell to a oneyear low, dropping 40 per cent to ₹22,908 crore...
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EV stocks dip to single digit as demand surges on pricey fuel
A sharp surge in EV demand has pushed dealer inventory levels down to singledigit days, raising the possibility of waiting periods for select premium variants of popular models such as the MG Windsor EV, Tata Nexon EV and Mahindra BE 6. Rising fuel...
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Professional forecasters see FY27 GDP growth at 6.5%
India’s economic growth is expected to moderate to 6.5 per cent in 202627, while headline retail inflation is projected at 4.9 per cent, according to the Reserve Bank of India’s latest Survey of Professional Forecasters (SPF). The estimates reflect a...
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The day all hedges fell in the US markets
Last Friday was a day when the logic of investing in uncorrelated assets broke down in the US markets. Most stocks fell, while semiconductor stocks crashed. Bonds declined as yields spiked. Gold and silver retreated. Crypto cracked. Crude oil slipped....
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Coordinated Centre-RBI package targets foreign fund inflows
The Centre and the Reserve Bank of India (RBI) on Friday unveiled a coordinated package of measures to attract longterm foreign capital, a move that economists believe could help bridge an estimated $4050 billion gap in India’s balance of payments...
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Rajesh Exports’ ‘gilded’ accounts
SEBI’s searing report on the accounting irregularities indulged in by Rajesh Exports Ltd (REL) exposes a multilayered deception that went undetected by auditors and institutional investors. Aside from SEBI’s incriminating findings (see table), quite a...
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In cybersecurity boost, India gets access to Anthropic Claude Mythos
In a boost for the country’s cybersecurity systems, India has obtained access to Claude Mythos Preview, Anthropic’s advanced AI model to detect and fix security vulnerabilities, as the AI giant opens up Mythos to more organisations across the world. A...
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April excise collection highest in 3 years despite levy cut on fuels
Despite a ₹10/litre cut in levies on petrol and diesel, Central excise collections in April rose to ₹447 crore from a negative ₹39 crore in the corresponding month of the previous fiscal, data from the Controller General of Accounts (CGA) showed. The...
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India may roll back some FTA concessions over UK steel curbs
India is weighing the option of withdrawing some market access concessions offered to the UK for certain items, such as Scotch whisky, under the bilateral FTA signed last year because of new steel restrictions imposed by Britain that would hit exports...
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US may push India to lock in 18% tariff deal, offer Section 301 relief
To clinch an early free trade deal with India, the US is likely to press New Delhi to accept a tariff package that locks in import levies on Indian goods around 18 per cent, as agreed to in the February framework deal. This will be backed by an...
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How hot will the base metals be in 2026
Base metal prices have continued their strong rally in 2026 after posting stellar gains in 2025. The S&P/TSX Global Base Metals Index, which surged 49 per cent in 2025 — its strongest annual gain since 2016 — is currently at 380, up a further 33 per...
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India faces its driest year since 2015; rains seen at 90% of LPA
The India Meteorological Department (IMD) on Friday scaled down its projection for the SouthWest monsoon to 90 per cent of the LongPeriod Average (belownormal rainfall), leaving the country facing its driest weather in 11 years. The rainfall, taking...
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‘All of govt’ to ensure a fair NEET re-exam, CBSE Class XII marking
Facing mounting criticism over the NEET paper leak and anomalies in CBSE Class XII answersheet evaluation, the government on Thursday sought to signal a more serious and coordinated response, with Education Minister Dharmendra Pradhan publicly owning...
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SC upholds 28% retrospective GST levy on online gaming firms
In a major setback to the online gaming industry, the Supreme Court on Wednesday upheld the retrospective imposition of 28 per cent GST on online gaming platforms, while ruling that companies offering realmoney games are not merely intermediaries but...
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Glitches, hack claims put CBSE exam portal under the scanner
The CBSE’s ambitious shift to digital evaluation for the Class 12 board exams has come under scrutiny after answersheet mixups, scoring discrepancies and contested security claims triggered a governmentordered IIT audit ahead of key admission...
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FY27 fertilizer subsidy may top ₹3 lakh cr on price surge
The fertilizer subsidy bill could exceed ₹3 lakh crore in FY27, nearly double the Budget Estimate of ₹1.71 lakh crore, as the West Asia crisis drives up global prices of urea, LNG and other key inputs, official sources told businessline. The sharp...
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PMO tells Ministries to find ways to curb fuel use, conserve forex
Amid concerns within the government over a widening current account deficit (CAD) and rising pressure on India’s oil import bill due to the West Asia crisis, the Prime Minister’s Office (PMO) has asked four key Ministries to urgently draw up measures...
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Nifty 50’s long-term historical performance reassures FPIs ‘don’t write me off just yet’
When times are tough, it gets even tougher when compared with betterperforming players. Indian markets are exactly in that spot today, as demanding valuations, impact on earnings growth from geopolitical turmoil, lack of good AI plays, and currency...
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