Business

Seoul Convenes Emergency Meeting to Assess Economic Fallout Seoul, March 1: South Korea’s industry ministry says it is preparing for all possible contingencies, including a potential closure of the Strait of Hormuz, following escalating tensions around Iran after a large scale U.S. Israeli strike.The Ministry of Trade, Industry and Resources convened an emergency meeting with related ministries and institutions to evaluate the economic and industrial consequences of the strike, which took place amid stalled negotiations over Tehran’s nuclear program.According to reports cited by Yonhap news agency, the attack reportedly killed Iran’s Supreme Leader Ayatollah Ali Khamenei.Strait of Hormuz in Focus as Energy Security Concerns Rise...

India, European Union Agree on Five Year MFN Treatment in Trade in Services Under FTA India EU FTA to Ensure Equal Treatment for Service Providers Mumbai, February 28: India and the European Union have agreed to grant each other Most Favoured Nation treatment for five years after their proposed free trade agreement comes into force, strengthening cooperation in trade in services.The provision is aimed at ensuring fair and equal treatment between service sectors and service providers on both sides. Under the Most Favoured Nation framework, each side will treat the other at least as favourably as it treats any third country, subject to specified conditions and limitations.This means that if either India or the European Union extends...

Indian Stock Market Ends Week Lower as Global Uncertainty Weighs on Sentiment Mumbai, February 28: Indian equity markets closed the week on a subdued note, with benchmark indices retreating amid heightened global volatility and rising geopolitical tensions.Despite India’s latest GDP data reflecting strong economic growth, investors remained cautious as uncertainty surrounding United States and Iran nuclear talks and global market fluctuations dampened overall sentiment.Benchmark Indices Slip Over 1% on Friday For the week, both the Sensex and the Nifty declined around 1.5 percent. Broader indices also faced pressure, with the Nifty Midcap 100 and Smallcap 100 falling more than 1 percent each.On Friday, February 27, the Sensex...

Government Temporarily Halts Rice Fortification Under PMGKAY, Cites Shelf Life Concerns Rice Fortification Put on Hold Pending Improved Nutrient Delivery Mechanism New Delhi, February 28: The government has decided to temporarily halt the fortification of rice distributed under the Pradhan Mantri Garib Kalyan Anna Yojana and other welfare schemes, pending the development of a more robust and effective nutrient delivery mechanism.The Ministry of Consumer Affairs, Food and Public Distribution reviewed the implementation of rice fortification across PMGKAY and related schemes before taking the decision. The move is described as a temporary measure and does not result in any reduction in food grain entitlements for beneficiaries...

India’s Real GDP Growth Estimated at 7.6% in FY 2025-26; Statistical System Undergoes Major Modernisation New Delhi, February 28: India’s real GDP is now estimated to grow by 7.6 per cent in FY 2025-26, signalling strong and sustained economic expansion, according to an official statement. The projected growth underlines the country’s continued momentum and reinforces its path toward achieving the vision of Viksit Bharat, anchored in higher productivity, resilience, and inclusive development.GDP Base Year Revised to 2022-23 A key structural reform accompanying this growth outlook is the revision of the GDP base year to 2022-23. The move is aimed at aligning India’s national accounts framework with the evolving structure of the...

Bharat Electronics Announces ₹1.95 Interim Dividend for FY26; Revenue and EBITDA Post Strong Growth Bharat Electronics Ltd (BEL) has announced an interim dividend of ₹1.95 per equity share for the financial year 2025 to 2026. The decision was approved by the company’s Board of Directors at its meeting held on Thursday, February 27.Interim Dividend Details In its stock exchange filing, the state owned defence electronics major said the interim dividend of ₹1.95 per equity share, having a face value of ₹1 each, represents 195 percent of the paid up share capital.The company added that the interim dividend will be paid within 30 days from the date of declaration.BEL had earlier informed the exchanges on February 18, 2026, about the...

Omnitech Engineering IPO Subscribed 1.14 Times on Final Day, QIB Portion Sees Strong Demand The initial public offering of Omnitech Engineering Ltd closed with an overall subscription of 1.14 times on Friday, the final day of bidding, reflecting moderate investor interest led by strong participation from institutional buyers.Omnitech Engineering IPO Subscription Details The Rs 583 crore IPO received bids for 2,16,31,632 shares against 1,89,09,890 shares on offer, as per data available with the NSE.The Qualified Institutional Buyers segment emerged as the key driver of demand, subscribing 2.86 times the shares reserved for it. In contrast, the non institutional investor portion was subscribed 73 percent, while the Retail Individual...

Gautam Adani Highlights Stories of Courage and Inclusion at GreenX Talks Adani Group Chairman Reflects on Human Spirit and Inclusive Growth Ahmedabad, February 27: Gautam Adani, Chairman of Adani Group, on Friday said that the ongoing GreenX Talks series has gone beyond inspiration and offered moments that reshape perspective.In a post on X, Adani said that some days are not merely inspiring but recalibrate one’s entire outlook. He noted that the series brought together powerful stories that showcased the triumph of the human spirit.Adani highlighted the elegance of Divya Shankar’s dance performance and described the journeys of Sudha Chandran and Srikanth Bolla as masterclasses in courage. He also acknowledged the dedication of...

India’s FDI Rises 18% to USD 47.87 Billion in April–December FY26 Foreign Direct Investment Sees Strong Growth in First Nine Months of Fiscal Year New Delhi, February 27: Foreign direct investment into India recorded a significant increase during the first nine months of the current financial year, reflecting sustained investor interest in the country.According to government data, FDI inflows rose 18 percent year on year to USD 47.87 billion during April to December of FY26. This marks a notable jump from USD 40.67 billion received during the corresponding period of the previous fiscal year.The rise in inflows highlights continued foreign investor participation despite evolving global economic conditions. The nine month data signals...

Global Smartphone Shipments End 2025 With Modest Growth, Sharp 2026 Decline Looms on Memory Shortage Holiday Demand Lifts Q4 2025 Shipments Despite Supply Constraints Global smartphone shipments closed 2025 with low single digit year on year growth, supported by improving macroeconomic conditions and robust holiday season demand, even as the industry grappled with a severe memory supply shortage.According to Counterpoint Research, global shipments rose 3.8 per cent in the fourth quarter of 2025, extending the market’s recovery to a fourth consecutive quarter. The December quarter also marked the strongest holiday period since 2021, with most regions reporting year on year growth. China and Eastern Europe were the only major markets to...

Production Gains Under PLI, But Market Dynamics Shift The auto Production Linked Incentive scheme has accelerated output among approved electric two wheeler manufacturers, but it has significantly reshaped competition within the sector. According to a report released on Friday by the Centre for Digital Economy Policy Research, the cost benefits under the scheme are being used primarily to gain domestic market share rather than to build export focused platforms.The report noted that PLI approved original equipment manufacturers enjoy an estimated 13 to 16 per cent cost advantage. This has enabled them to adopt aggressive pricing strategies and expand capacity at a faster pace.However, the think tank warned that this cost differential...

Netweb Technologies Partners with Vertiv to Co-Engineer AI-Ready GPU Data Center Infrastructure Netweb Technologies India Ltd has informed the exchanges about a strategic collaboration with Vertiv, a leading digital infrastructure firm, to jointly engineer and validate its in-house designed GPU compute platforms with Vertiv’s integrated, end-to-end AI data center solutions.The partnership is aimed at delivering fully validated, rack-scale AI systems where compute, cooling, and power infrastructure are engineered to function seamlessly together.Focus on Advanced Cooling and Power Integration Under the collaboration, the companies will work together from the conceptual stage of product design to develop complex cooling technologies...

PNGS Reva Diamond Jewellery IPO Subscribed 1.23 Times on Final Day; Retail and NII Segments Lead Demand The initial public offering of PNGS Reva Diamond Jewellery Ltd was subscribed 1.23 times on Thursday, the final day of bidding, reflecting moderate investor participation across categories.According to NSE data, the Rs 380 crore IPO received bids for 70,31,776 shares against 57,06,235 shares on offer.Retail and NII Categories Drive Subscription The non-institutional investors segment recorded the highest traction, with subscriptions reaching 1.54 times the allotted quota. The Retail Individual Investors category followed, subscribing 1.29 times.The Qualified Institutional Buyers portion was subscribed 1.04 times, indicating...

Regulated Entities Must Display Registered Name and Number on Social Platforms New Delhi, February 26: The Securities and Exchange Board of India has directed all entities under its regulation, along with their agents, to prominently display their registered name and registration number on social media platforms while posting content related to the securities market.The directive covers stock brokers, mutual funds, asset management companies, investment advisors, research analysts, alternative investment funds, portfolio managers, and other registered intermediaries.In its circular issued on Thursday, the regulator noted the rapid growth in the use and acceptance of social media platforms and underscored the need to clearly...

Matrimony.com Limited Extinguishes 8,93,129 Equity Shares Following Buyback Matrimony.com Limited has extinguished 8,93,129 fully paid-up equity shares of a face value of ₹ 5 each following the completion of a buyback through a tender offer route. The extinguishment occurred on February 23, 2026.Capital Structure and Shareholding Prior to the buyback, the company's issued, subscribed, and paid-up share capital was ₹ 1078.17 crore. Post buyback, this figure stands at ₹ 1033.51 crore. The company's authorized share capital remains unchanged at ₹ 1800 crore.The shareholding pattern reflects a slight increase in the percentage ownership for promoters and the promoter group, rising from 54.61% to 56.96%. Foreign investors and financial...

Park Medi World Limited Updates Acquisition of KP Institute of Medical Sciences Park Medi World Limited announced updates regarding its acquisition of KP Institute of Medical Sciences (KPIMS) in Agra. The acquisition involves securing a 100% stake in KPS Wellness Private Limited and SVPD Healthcare Private Limited (collectively referred to as “Target Entities”).Acquisition Timeline and Completion On December 19, 2025, Park Medi World Limited initially announced its agreement to acquire KPIMS, a 360-bed medical facility, through the acquisition of shareholdings in the Target Entities. The initial indicative timeline for completion was February 28, 2026.The company previously reported the completion of the 100% stake acquisition in...

India Logistics Sector Gets a Major Automation Upgrade Shadowfax, an on-demand third-party logistics platform, has operationalised its largest automated sorting facility in the National Capital Region, marking a significant expansion of its infrastructure footprint. The company has invested ₹50 crore in the 2.1 lakh square feet hub, positioning it as a critical node in its express delivery network.The facility is equipped with a high-speed automated sorter capable of processing 48,000 shipments per hour. With a peak handling capacity of up to 1 million shipments per day, the hub ranks among the highest-capacity sorting centres in the Indian logistics industry.80 Direct Linehaul Routes to Accelerate Deliveries The NCR sorting centre...

New Delhi, February 26: The initial public offering of Omnitech Engineering Ltd, a manufacturer of precision-engineered components, was subscribed 13 percent on the second day of bidding on Thursday, reflecting cautious participation across investor categories.According to NSE data, the IPO received bids for 24,94,866 shares against 1,89,09,890 shares on offer.Subscription Status Across Categories The Qualified Institutional Buyers portion was subscribed 13 percent, while the Retail Individual Investors segment also saw a 13 percent subscription. The non-institutional investors category received 11 percent subscription by the end of the second day.The company had earlier mobilized over Rs 174 crore from anchor investors on...

Brigade Enterprises Partners with Primus Senior Living to Develop Senior Living Communities Brigade Enterprises Limited has partnered with Primus Senior Living to launch three senior living communities across Bengaluru and other geographies in South India. The projects are expected to have a Gross Development Value (GDV) of approximately Rs. 750 crores.New Partnership Aims to Expand Senior Living Options Two of the upcoming communities are integrated within larger township developments, offering inclusivity and access to shared social infrastructure and amenities. These communities are designed to meet every stage of life with dignity and purpose, and will include wellness centers, hobby lounges, medical bays, fully accessible...

Silver Prices Fall Nearly 3% to Rs 2.70 Lakh Per Kg; Gold Slips Rs 1,300 in Delhi on Weak Global Cues New Delhi, February 26: Precious metals witnessed a sharp correction in the national capital on Thursday, with silver tumbling nearly 3 per cent and gold also trading lower, as weak global trends and profit-booking weighed on sentiment.According to the All India Sarafa Association, silver prices plunged by Rs 7,400 to settle at Rs 2,70,500 per kg, inclusive of all taxes. The metal had closed at Rs 2,77,900 per kg in the previous session. The nearly 3 per cent drop marks one of the sharper single-day declines in recent weeks.Gold of 99.9 per cent purity also extended losses, declining by Rs 1,300 to Rs 1,62,900 per 10 grams...