Business

Anil Ambani to Appear Before CBI on March 19-20 in RCOM Case CBI Summons Linked to SBI Complaint Against Reliance Communications New Delhi, March 19: Industrialist Anil Ambani is set to appear before the Central Bureau of Investigation (CBI) at its headquarters in the national capital on March 19 and 20 in connection with an ongoing investigation involving Reliance Communications Ltd (RCOM).The appearance follows a First Information Report registered by the agency based on a complaint filed by the State Bank of India. The case pertains to alleged irregularities linked to Reliance Communications.A spokesperson for Anil Ambani confirmed the development, stating that he will be present before the CBI for questioning on both days. The...

India Packaged Food and Beverage Market Set to Cross $150 Billion by 2030 on Quick Commerce Surge Rapid Growth Driven by Convenience and Changing Consumption Patterns New Delhi, March 19: India’s packaged food and beverage market is entering a new phase of expansion, with projections indicating it will grow from around $100 billion currently to over $150 billion by 2030, according to a report released on Thursday.The growth is being significantly driven by the rapid rise of quick commerce, which is reshaping how consumers purchase and consume packaged food products.Quick Commerce GMV Expected to Cross $25 Billion The report highlights that the quick commerce segment is set to expand sharply, with gross merchandise value expected to...

IKS Health Wins Three Black Book Research Awards 2026 for AI-Driven RCM, Medical Coding, and Clinical Documentation IKS Health Secures Multiple Top Rankings in 2026 Black Book Survey Mumbai and Dallas, March 19: IKS Health, a global care enablement solutions provider, has secured three major honors at the 2026 Black Book Research awards. The company was recognized for AI-driven revenue cycle management for the second consecutive year, medical coding for the fourth straight year, and clinical documentation and AI services for the 13th consecutive year.These recognitions reflect continued client endorsement of IKS Health’s focus on accountability, technology integration, and measurable outcomes aimed at optimizing healthcare revenue...

Thomson Expands into India’s Refrigerator Market, Plans Aggressive Growth Strategy French Electronics Brand Eyes Stronger Presence in Indian Appliance Sector New Delhi, March 19 Thomson, the French electronics brand owned by Talisman Brands, has entered India’s home refrigerator segment, signaling a broader push to strengthen its footprint in the country’s fast-growing appliance market.The company is now preparing to adopt a more aggressive expansion strategy in India, according to a senior official, following its strong performance in the LED TV segment.India Emerges as a Key Growth Market for Thomson After achieving notable success in televisions, India has become Thomson’s second-largest market globally after France. The company...

Gold and Silver Prices Fall After US Fed Decision While Oil Prices Surge Bullion Prices Decline on MCX Amid Global Pressure Mumbai, March 19: Gold and silver prices witnessed a sharp decline on Thursday following the latest policy decision by the US Federal Reserve, even as ongoing geopolitical tensions in the Middle East kept the bullion market in focus.On the Multi Commodity Exchange (MCX), gold futures for April 2 were trading करीब 1 percent lower, down by Rs 1,313 at Rs 1,51,712. The contract hit an intraday low around 10:22 am. Silver futures for May 5 also dropped significantly, falling 2 percent or Rs 5,111 to Rs 2,43,083.US Federal Reserve Holds Interest Rates Steady The US Federal Reserve, in line with market expectations...

ADB to Provide $10 Billion Financing to Pakistan Under 2026-30 Strategy New Country Partnership Strategy Targets Sustainable and Inclusive Growth Islamabad, March 19: The Asian Development Bank is expected to extend approximately $10 billion in financing to Pakistan over the next five years as part of its Country Partnership Strategy for 2026-30, according to a media report released on Thursday.The Manila-based multilateral lender unveiled the strategy on Wednesday, outlining a comprehensive roadmap aimed at supporting Pakistan’s transition toward sustainable and inclusive economic growth through private sector-led development.Focus Areas: Private Sector Growth, Inclusion, and Sustainability The five-year strategy is structured...

HDFC Bank Shares Slide as ADRs Drop 8% After Chairman Resignation HDFC Bank Stock Falls Sharply in Domestic and Global Markets Mumbai, March 19: Shares of HDFC Bank witnessed heavy selling pressure on Thursday, both in domestic markets and overseas trading, following the resignation of its part-time Chairman Atanu Chakraborty.The bank’s American Depositary Receipts (ADR) declined sharply by 8 percent to $26.42, down from the previous close of $28.71, reflecting weak global sentiment around the stock.In the domestic market, HDFC Bank emerged as one of the worst-performing stocks. The share price dropped as much as 8.66 percent during intraday trade, hitting a low of Rs 770 compared to its previous close of Rs 843.Chairman...

Sensex, Nifty Fall Sharply After Three-Day Rally as Crude Oil Surge Weighs on Markets Indian Stock Market Opens Lower Amid Weak Global Cues and FII Outflows Mumbai, March 19: Indian benchmark indices Sensex and Nifty declined sharply in early trading on Thursday, snapping a three-day rally, as a surge in crude oil prices and weak global market trends dampened investor sentiment.The 30-share BSE Sensex plunged 1,953.21 points, or 2.54 percent, to 74,750.92 during opening trade. Similarly, the NSE Nifty dropped 580.05 points, or 2.43 percent, to 23,197.75.Banking and Heavyweight Stocks Lead Losses Among Sensex constituents, HDFC Bank fell over 3 percent following the resignation of its chairman Atanu Chakraborty, who stepped down...

HDFC Bank Chairman Atanu Chakraborty Resigns Citing Ethical Concerns First Mid-Term Exit Raises Governance Questions at India’s Second-Largest Lender New Delhi, March 19 In a sudden development, Atanu Chakraborty has resigned as the part-time chairman of HDFC Bank, citing ethical concerns, marking the first instance of a mid-term exit by a chairman at the private sector lender.The resignation has triggered concerns around the bank’s internal functioning, given Chakraborty’s explicit reference to issues related to values and practices observed during his tenure.Resignation Letter Points to Ethical Misalignment In his resignation letter dated March 17, Chakraborty stated that certain developments within the bank over the past two...

Indian Stock Market Falls Sharply as Middle East Tensions Push Oil Prices Higher Sensex Drops Nearly 2,000 Points, Nifty Slides Amid Global Weakness Mumbai, March 19 – Indian equity markets opened sharply lower on Thursday, mirroring weak global cues as escalating geopolitical tensions in the Middle East triggered a sharp spike in crude oil prices.The BSE Sensex plunged 1,953 points or 2.55 percent to 74,750 in early trade. The NSE Nifty also came under significant pressure, falling 580 points or around 2.4 percent before staging a slight recovery.Broad-Based Selling Across Sectors Selling pressure was visible across sectors, with financial and auto stocks leading the decline.The Nifty Private Bank index dropped more than 3...

IPO Details and Valuation New Delhi, March 19: Basmati rice exporter Amir Chand Jagdish Kumar (Exports) Ltd has set the price band for its upcoming Initial Public Offering (IPO) at Rs 201 to Rs 212 per share, valuing the company at around Rs 2,200 crore.The company’s maiden public issue, aggregating to Rs 440 crore, will open for subscription on March 24 and close on March 27. Bidding for investors will begin a day earlier on March 23.Issue Structure and Allocation The proposed IPO will consist entirely of a fresh issue of equity shares, with no Offer For Sale component included in the offering.In terms of allocation, 50 percent of the issue has been reserved for qualified institutional buyers, 35 percent for retail investors, and...

Oil Prices Surge Over 4% After Middle East Energy Infrastructure Attacks Brent and WTI Crude Rally Amid Escalating Geopolitical Tensions Oil prices climbed sharply on Thursday, rising more than 4 per cent, following attacks on critical energy infrastructure in the Middle East that intensified concerns over global supply disruptions.The April contract for Brent crude on the Intercontinental Exchange was trading at $111.78 per barrel, marking a gain of 4.10 per cent from its previous close.Similarly, the April contract for West Texas Intermediate on NYMEX advanced 3.37 per cent to $99.57 per barrel.Strikes on Key Energy Facilities Trigger Market Reaction The surge in crude prices came after Israel launched a strike on Iran's South...

Fed Policy Uncertainty Rises Amid Middle East Tensions, Bank of Korea Signals Continued Rate Pause Global Risks Cloud US Monetary Policy Outlook Seoul, March 19: Uncertainty surrounding the future course of US monetary policy has intensified, driven by escalating geopolitical tensions in the Middle East, according to a senior official from the Bank of Korea (BOK).The US Federal Reserve, in its latest policy decision on Wednesday, kept its benchmark interest rate unchanged in the range of 3.5 percent to 3.75 percent for the second consecutive meeting. The central bank also maintained its projection of one rate cut within the year.Oil Price Surge Adds Inflationary Pressure Federal Reserve Chair Jerome Powell, speaking after the...

South Korean Stocks Slide Nearly 2 Percent Amid Middle East Tensions and Fed Policy Uncertainty KOSPI Declines as Global and Geopolitical Pressures Weigh on Markets Seoul, March 19: South Korean equities traded sharply lower on Thursday, with the benchmark index nearing a 2 percent decline, as escalating tensions in the Middle East and uncertainty around US monetary policy unsettled investor sentiment.The Korea Composite Stock Price Index (KOSPI) dropped 112.91 points, or 1.19 percent, to 5,812.12 as of 11:20 a.m., reflecting broad-based selling across major sectors.Global Market Weakness Adds to Pressure Overnight losses on Wall Street added to the cautious mood in Asian markets. The Dow Jones Industrial Average fell 1.63 percent...

CMPDIL Raises Rs 470 Crore from Anchor Investors Ahead of Rs 1,842 Crore IPO Anchor Investors Back CMPDIL IPO with Rs 469.74 Crore Allocation New Delhi, March 18 Central Mine Planning and Design Institute (CMPDIL), a subsidiary of state-owned Coal India, has raised Rs 470 crore from anchor investors ahead of its initial public offering (IPO), according to a circular filed on the BSE.The company allotted 2.73 crore equity shares to 22 anchor investors at Rs 172 per share, aggregating to Rs 469.74 crore. Among the key participants were Life Insurance Corporation of India, Nippon India Mutual Fund, Edelweiss Mutual Fund, ICICI Prudential Mutual Fund, Baring Private Equity India Fund, General Insurance Corporation of India, and Edelweiss...

CMPDIL IPO: Coal India Arm Raises ₹470 Crore from Anchor Investors Ahead of Public Issue Anchor Investors Subscribe ₹469.74 Crore Worth Shares New Delhi, March 18: Central Mine Planning and Design Institute (CMPDIL), a subsidiary of state-owned Coal India, has secured ₹470 crore from anchor investors ahead of its initial public offering (IPO).According to a circular on the BSE website, the company allotted 2.73 crore equity shares to 22 anchor funds at ₹172 per share, aggregating to ₹469.74 crore.Major participants in the anchor round include Life Insurance Corporation (LIC), Nippon India Mutual Fund, Edelweiss Mutual Fund, ICICI Prudential Mutual Fund, Baring Private Equity India Fund, General Insurance Corporation of India, and...

GSP Crop Science IPO Subscribed 1.61 Times on Final Day, Strong Interest from Institutional and HNI Investors IPO Sees Moderate Overall Demand with 1.61x Subscription New Delhi, March 18: The initial public offering of GSP Crop Science Ltd garnered an overall subscription of 1.61 times on the final day of bidding on Wednesday, reflecting steady investor participation across categories.According to NSE data, the Rs 400 crore IPO received bids for 1,43,61,844 shares against the 89,47,367 shares offered.Strong Demand from QIBs and Non-Institutional Investors Investor interest was led by non-institutional investors (NIIs), whose category was subscribed 3.05 times. Qualified Institutional Buyers (QIBs) also showed solid participation...

RBI Needs to Revisit Investor Criteria, Support Financial Sector Consolidation: M Rajeshwar Rao Calls for Regulatory Flexibility to Enable Growth and Capital Formation Mumbai, March 18 Former Reserve Bank of India Deputy Governor M Rajeshwar Rao on Wednesday urged a re-evaluation of investor eligibility criteria, stressing the need for stronger financial institutions to support India’s growth ambitions.Speaking at an event organized by Assocham, Rao said that as the economy expands, the financial sector must be equipped with adequate capital and structural strength to sustain that growth.“The challenge lies in finding suitable investors and complying with regulatory requirements. The Reserve Bank and the government need to carefully...

Silver Prices Crash ₹6,000 in Delhi, Gold Falls ₹1,000 Amid Weak Demand Bullion Market Sees Sharp Decline in Domestic Prices New Delhi, March 18: Silver prices witnessed a steep fall in the national capital on Wednesday, dropping by ₹6,000 to ₹2.56 lakh per kilogram due to bearish sentiment in the domestic market, according to the All India Sarafa Association.The white metal declined by ₹6,000, or 2.28 percent, settling at ₹2,56,500 per kg including all taxes. This marks a sharp fall from Tuesday’s closing level of ₹2,62,500 per kg.Gold Prices Slip on Profit Booking Gold prices also moved lower in the bullion market. Gold of 99.9 percent purity dropped by ₹1,000, or 0.62 percent, to ₹1,60,300 per 10 grams including all taxes. In the...

SEBI Settlement Scheme: 111 Brokers Resolve Algo Trading Violations by Paying ₹1 Lakh Each SEBI Allows Time-Bound Settlement for Algo Platform-Linked Brokers New Delhi, March 18: A total of 111 entities have settled pending enforcement proceedings with the Securities and Exchange Board of India (SEBI) under a special settlement scheme introduced for stock brokers associated with certain algorithmic trading platforms.Each entity paid ₹1 lakh to resolve the matter, according to an order issued by SEBI on Wednesday.Scheme Covered Cases Across Multiple Legal Forums The settlement scheme was designed for brokers facing adjudication proceedings before the Adjudicating Officer, the Securities Appellate Tribunal, and various courts. It...