Business

Sensex, Nifty Slide Over 1% as IT Rout Deepens on AI Fears and Trade Uncertainty Mumbai, February 24: Benchmark equity indices Sensex and Nifty tumbled more than 1 percent on Tuesday, weighed down by a sharp selloff in information technology stocks amid rising concerns over artificial intelligence disruption and renewed global trade uncertainties.Weak global cues, escalating US Iran tensions, and firm crude oil prices further dented investor sentiment, triggering broad based declines across sectors.Benchmark Indices End Sharply Lower The 30 share BSE Sensex plunged 1,068.74 points, or 1.28 percent, to settle at 82,225.92. During the session, it dropped as much as 1,359.93 points, or 1.63 percent, to hit an intraday low of 81,934.73...

Mumbai, February 24: India’s outstanding retail loans expanded sharply by 18.1 per cent year on year in the December quarter of FY26, reaching ₹162 lakh crore, driven primarily by a surge in gold-backed lending, festive season demand, and the impact of GST rationalization, according to data released by CRIF High Mark.The data highlights a broad-based rise across key retail loan segments, with gold loans emerging as the fastest-growing category during the quarter.Gold Loans Jump 44.1%, Outpacing Other Segments Loans secured against gold recorded a robust 44.1 per cent increase to ₹16.2 lakh crore, reflecting higher borrowing activity amid rising gold prices. The sharp rise in gold-backed lending played a central role in lifting...

Structural Challenges Emerge in Dhaka’s Global Trade Realignment New Delhi, February 24: Bangladesh, led by newly appointed Prime Minister Tarique Rahman, is navigating complex structural challenges as it seeks to balance its trade and strategic ties between the United States and China, both of which remain critical economic partners, according to a recent Nikkei Asia report.The report highlights that the terms of a proposed trade arrangement with the United States underscore the delicate balancing act Dhaka must perform as Washington and Beijing compete for influence in the country.US Trade Deal Signals Strategic Leverage While Washington is promoting enhanced market access, deeper security cooperation, and regulatory alignment...

New US Tariff Policy Reshapes Asia-Pacific Trade Outlook A uniform 15 percent US tariff announced by US President Donald Trump is expected to benefit several Asia-Pacific economies that were previously subject to higher country-specific duties, according to a report released Tuesday by Moody’s Analytics.The report noted that the impact on Japan, South Korea and Taiwan is likely to be limited, as existing tariffs on these economies already hover around the 15 percent level. However, China and much of Southeast Asia stand to gain under the revised structure, as the uniform rate could reduce the burden compared to earlier, higher levies.Supreme Court Ruling Alters Trade Negotiation Dynamics Moody’s Analytics said a recent US Supreme...

Trilateral AI Cooperation Targets Local Empowerment and Inclusive Growth New Delhi, February 24: A trilateral cooperation agreement on artificial intelligence signed between Italy, India and Kenya at the AI Impact Summit 2026 is set to promote AI-driven development across Africa, with a strong emphasis on local empowerment, sustainability and inclusive innovation, according to a new report.The report by AIBase.ng stated that the initiative is built on co-creation and African-led development. It aims to ensure that artificial intelligence tools reflect the social, economic and cultural contexts of African communities, rather than following externally imposed technology models.Unlike traditional AI partnerships that often rely on...

Energy expert Narendra Taneja has said that current crude oil prices are being supported largely by geopolitical tensions involving Iran rather than pure supply and demand dynamics.Speaking on the movement in Brent crude benchmarks, Taneja noted that if oil markets were guided strictly by economic fundamentals, prices would be significantly lower. “If you strictly adhere to supply and demand fundamentals, I see no reason for oil to be anything more than 58 dollars per barrel,” he said.Oil Prices Carrying a Geopolitical Premium According to Taneja, any price above 58 dollars to 60 dollars per barrel reflects a geopolitical premium linked to uncertainty surrounding Iran.He explained that ongoing discussions between the United States...

The Small Industries Development Bank of India has released the fifth edition of its MSME Outlook Survey for October to December 2025, highlighting stable business confidence across the micro, small and medium enterprises segment despite prevailing external risks.Composite MSME Business Conditions Index Holds Above Expansion Threshold The Composite MSME Business Conditions Index stood at 60.8 in Q3 FY26, marginally lower than 61.6 in the previous quarter. An index reading above 50 indicates an expansionary outlook, signalling that MSMEs continue to operate in growth territory even as certain sectors witness moderation.On a year-on-year basis, the M-BCI recorded improvement across both composite and sectoral levels, supported by a...

Leadership Reshuffle Signals Strategic Reset Suzlon Group has announced a major strategic repositioning under its new roadmap titled “Suzlon 2.0,” marking its transition from a wind turbine manufacturer to a comprehensive renewable energy solutions provider.As part of this shift, the company has appointed Ajay Kapoor as Chief Executive Officer. Co-Founder and Vice Chairman Girish Tanti said the renewable energy landscape has evolved significantly.“The market has shifted from a single source, whether it is wind or solar, to firm, dispatchable renewable energy hybrid projects,” Tanti stated, underscoring the company’s intent to align with changing demand dynamics.India’s Energy Transition at the Core of Growth Plans India’s...

Mumbai, February 24: Indian benchmark equity indices ended sharply lower on Tuesday, with the Sensex and Nifty falling over 1 per cent each, weighed down by heavy selling in information technology stocks amid concerns over artificial intelligence-led disruption and renewed global trade uncertainties.Investor sentiment was further dampened by rising global crude oil prices, escalating US-Iran tensions, and subdued global cues.Sensex Falls Over 1,000 Points, Nifty Drops Below 25,500 The 30-share BSE Sensex plunged 1,068.74 points, or 1.28 per cent, to close at 82,225.92. During the session, the benchmark tumbled as much as 1,359.93 points, or 1.63 per cent, to hit an intraday low of 81,934.73.The 50-share NSE Nifty declined 288.35...

Centum Electronics Ltd has secured a major defence contract from Hindustan Aeronautics Ltd for the design and development of Active Electronically Scanned Array radar systems for the Utility Helicopter Maritime platform, according to an exchange filing.The order marks a significant milestone for the defence electronics manufacturer and reinforces its growing role in indigenous aerospace and defence system development.Phase 1 Order Valued at ₹66 Crore Under Phase 1, Centum Electronics will undertake the design and development of AESA radar systems for the UH M platform over the next two financial years.The Phase 1 purchase order carries a base value of ₹66 crore, with a gross value of ₹78 crore inclusive of GST.The radar system...

Graphite electrode manufacturer HEG Ltd on Tuesday announced that its wholly-owned subsidiary TACC Ltd has entered into a long-term partnership with INOX Air Products Private Ltd for the supply of nitrogen to its upcoming manufacturing facility in Madhya Pradesh.Dedicated Nitrogen Plant to Be Set Up at Dewas Greenfield Facility Under the agreement, INOX Air Products Private Ltd will establish a dedicated on-site nitrogen plant at TACC’s greenfield manufacturing facility in Dewas. The facility is being developed to produce lithium-ion battery-grade graphite anode material.The nitrogen plant will be set up on a Build, Own and Operate model. The arrangement is designed to ensure a consistent, safe, and high-purity nitrogen supply...

Global financial markets opened the week on a guarded note as investors assessed fresh uncertainty around US trade tariffs and braced for a critical earnings report from semiconductor heavyweight Nvidia. The dollar slipped in Asian trading, while oil prices eased ahead of renewed US Iran negotiations scheduled for Thursday in Geneva.Tariff Confusion Clouds Market Sentiment Investor sentiment remained fragile after the US Supreme Court struck down President Donald Trump's emergency tariffs. In response, Trump announced a new 10 percent tariff on the rest of the world, which was subsequently lifted to 15 percent. The rapid sequence of decisions created confusion across global markets.Uncertainty persists over when the revised tariffs...

Equity Threshold Raised to ₹7,500 Crore Per Subsidiary New Delhi, February 24: The Union Cabinet on Tuesday approved a proposal to raise the equity investment threshold for Power Grid Corporation of India Limited from ₹5,000 crore to ₹7,500 crore per subsidiary. The move is aimed at enabling the state-owned transmission major to participate in capital-intensive power transmission projects.The decision was cleared by the Cabinet Committee on Economic Affairs at its first meeting held at the Prime Minister’s new office, Seva Teerth, under the chairmanship of Narendra Modi.Enhanced Delegation Under Maharatna Guidelines Briefing reporters after the meeting, Information and Broadcasting Minister Ashwini Vaishnaw said the CCEA approved...

500 MW Solar Module Supply Order Awarded by Domestic IPP Waaree Energies Ltd announced on Monday that it has secured an order to supply 500 MW of solar modules from a reputed domestic solar power developer engaged in the business of an Independent Power Producer.In a regulatory filing dated February 23, 2026, the company stated that it received the order for the supply of 500 MW of solar modules from a reputable customer operating as a solar power developer and IPP.The contract is a one time order for the financial year 2026 to 27. Waaree Energies will supply the entire 500 MW capacity within the timeline specified in the agreement. The order has been awarded by a domestic entity.The development further strengthens the company’s...

Kolkata-Based Realty Major Diversifies into Value Fashion Segment Kolkata, February 24: Kolkata-based real estate group Srijan Group on Tuesday announced its foray into organized fashion retail, marking a strategic diversification into India’s rapidly expanding consumer segment.The group is launching its new retail brand, “Srijan Style,” with a committed investment of over ₹500 crore over the next three to four years. The entire capital outlay will be funded through internal accruals, according to Srijan Realty Director Keshav Agarwal.Phased Expansion Plan Targets 50 Stores by FY27 Under a structured rollout strategy, the company plans to open 10 stores in the first quarter of operations. The expansion roadmap aims to scale up to 50...

AI to Form Foundation of India’s Growth by 2047 New Delhi, February 24: India is rapidly strengthening its position in the field of artificial intelligence, with experts asserting that AI will be central to the country’s ambition of becoming a developed nation by 2047.Speaking about the India AI Impact Summit 2026 held in the national capital last week, Binay Kumar Singh, Director of the Dr. Syama Prasad Mookerjee Research Foundation, said that as India approaches 100 years of Independence in 2047, artificial intelligence will serve as a strong foundation for shaping the nation’s future.He emphasized that modern technology, particularly AI, cannot be overlooked in the development journey. According to him, the summit demonstrated...

Major Boost to Aviation Infrastructure in Kashmir Valley New Delhi, February 24: The Union Cabinet on Tuesday approved the expansion of the civil enclave at Srinagar International Airport at an estimated cost of Rs 1,677 crore, marking a significant step towards strengthening aviation infrastructure and regional connectivity in the Kashmir Valley.The decision was taken by the Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, and was announced by Information and Broadcasting Minister Ashwini Vaishnaw during a media briefing in the national capital.Notably, this was the first Cabinet meeting held at the Prime Minister’s new office, Seva Teerth.Project Scope: New Terminal, Expanded Apron and Parking...

₹275 Increase in MSP Aims to Ensure 61.8% Return Over Production Cost New Delhi, February 24: The Union Cabinet on Tuesday approved an increase in the Minimum Support Price for raw jute by ₹275 to ₹5,925 per quintal for the 2026-27 marketing season.The decision was taken by the Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, during its first meeting held at the Prime Minister’s new office, Seva Teerth.The revised MSP is designed to ensure a return of 61.8 per cent over the all-India weighted average cost of production.MSP Fixed at 1.5 Times Production Cost Benchmark Addressing reporters after the meeting, Information and Broadcasting Minister Ashwini Vaishnaw said that the MSP for raw jute for the...

Mumbai, February 24: India’s benchmark equity indices closed sharply lower on Tuesday, logging their steepest decline in four sessions as heavy selling in banking, infrastructure and information technology stocks weighed on sentiment. Fresh concerns over United States trade policy unsettled global markets and dampened investor confidence.The 50 share Nifty ended at 25,424.65, down 288.35 points or 1.12 per cent. The Sensex settled at 82,225.92, falling 1,068.74 points or 1.28 per cent.US Tariff Concerns Trigger Risk Aversion Market sentiment remained under pressure after US President Donald Trump threatened to impose new tariffs, raising fears of renewed trade tensions.Over the weekend, Trump announced temporary global tariffs of...

Indian Rupee Closes 6 Paise Lower Amid Trade Uncertainty and Weak Equities Mumbai, February 24: The Indian rupee traded in a tight band on Tuesday before closing 6 paise lower at 90.95 against the US dollar on a provisional basis, pressured by a firm greenback and rising global crude oil prices.The local currency opened at 90.91 in the interbank foreign exchange market and moved within a narrow range of 90.91 to 90.97 during the session. It finally settled at 90.95, down from its previous close of 90.89 on Monday, when it had gained 5 paise.RBI Intervention Suspected as Rupee Holds Above 91 Mark Market participants indicated that possible intervention by the Reserve Bank of India helped contain sharp volatility. Traders suggested...