Business

ByteDance Valuation Jumps 66% From Last Year’s Buyback Investment firm General Atlantic is selling a stake in ByteDance in a deal that values the Chinese social media giant at $550 billion, according to people familiar with the matter. The transaction marks a dramatic increase in the valuation of the privately held company.The proposed divestment represents a 66% rise from last year’s share buyback, which valued ByteDance at more than $330 billion. It also reflects a 15% increase from a secondary market transaction in November that valued the company at $480 billion.If completed, this would be the first stake sale since the Trump administration cleared the sale of ByteDance’s TikTok US interests in January.General Atlantic Moves...

Anil Ambani Appears Before ED for Second Round of Questioning in Bank Fraud-Linked Money Laundering Case ED Records Statement Under PMLA in ₹40,000 Crore RCOM Probe New Delhi, February 26: Anil Ambani, Chairman of the Reliance Group, appeared before the Enforcement Directorate on Thursday for a second round of questioning in connection with an alleged bank fraud-linked money laundering case.The 66-year-old businessman reached the federal probe agency’s office in central Delhi at around 10:30 am. Officials confirmed that his statement has been recorded under the provisions of the Prevention of Money Laundering Act. Ambani was earlier questioned by the agency in August 2025 as part of the ongoing investigation.The probe relates to an...

Government Pushes for Fair Revenue Distribution in Digital Ecosystem Union Information and Broadcasting Minister Ashwini Vaishnaw on Thursday said social media platforms must ensure fair revenue sharing with individuals and organizations that create content, including journalists, traditional media houses, influencers, professors, researchers, and creators in remote regions.Speaking on the growing digital content economy, Vaishnaw emphasized that those generating content on digital platforms deserve a rightful share of the revenue earned from it. He noted that news professionals, academics disseminating research, influencers, and grassroots creators all contribute significantly to the value ecosystem of social media platforms...

BofA Flags Near Term Headwinds After Haryana Panel Removal Multinational brokerage Bank of America Securities has downgraded IDFC First Bank Ltd. to Neutral from Buy and reduced its 12 month target price to Rs 75 from Rs 95, citing near term headwinds following the bank’s removal from the Haryana government’s panel after a fraud incident.The brokerage has lowered its estimated earnings per share by 13 to 14 per cent, prompting the rating downgrade. It also trimmed loan growth estimates for FY27 and FY28 by 1 to 2 per cent and reduced deposit growth forecasts by up to 3 per cent.Rs 590 Crore Fraud Triggers Deposit Outflows The bank reported a fraud of Rs 590 crore in the accounts of the Haryana government involving certain employees...

Mumbai, February 26: Foreign institutional investors recorded their strongest monthly inflow in 17 months in February, pumping in nearly $2.44 billion into Indian equities, according to exchange data released on Thursday.The latest inflow marks the highest monthly net purchase since September 2024 and signals renewed foreign participation in domestic markets after an extended phase of selling pressure.Secondary and Primary Market Participation Out of the total inflows, FIIs invested approximately $2.14 billion in secondary markets and $299 million in primary markets during the month.While buying activity in primary markets has remained steady since October 2023, secondary markets had witnessed sustained selling between January...

ED Records Statement Under PMLA in Ongoing Money Laundering Probe New Delhi, February 26: Reliance Group Chairman Anil Ambani appeared before the Enforcement Directorate in the national capital on Thursday for a second round of questioning in connection with an alleged money laundering case linked to bank fraud.The 66-year-old businessman reached the federal agency’s office in central Delhi at around 10:30 am. Officials said his statement will be recorded under the provisions of the Prevention of Money Laundering Act.Ambani was earlier questioned by the Enforcement Directorate in August 2025 as part of the same investigation.Probe Linked to Alleged ₹40,000 Crore Fraud by Reliance Communications The investigation relates to an...

Mumbai, February 26, 2026: Infinity Infoway Limited (BSE: 544567) has secured a government contract valued at approximately ₹10.97 crore from the Knowledge Consortium of Gujarat, under the Education Department, Government of Gujarat, for delivering AI-based data analytics and business intelligence services. The agreement, dated February 25, 2026, involves the design, development, implementation, testing, operations, and maintenance of AI-based Data Analytics Services (Version 2). The project will be executed at the buyer’s premises and spans a tenure of five years. Contract OverviewParticularsDetailsAwarding AuthorityKnowledge Consortium of Gujarat, Education Department, Government of GujaratVendorInfinity Infoway Limited...

Sedemac Mechatronics IPO to Open on March 4; Price Band Set at Rs 1,287–1,352 Per Share Sedemac Mechatronics will launch its initial public offering on March 4, aiming to raise Rs 1,087 crore through a public issue structured entirely as an Offer For Sale. The price band for the IPO has been fixed at Rs 1,287 to Rs 1,352 per equity share, valuing the company at nearly Rs 6,000 crore at the upper end of the band.The maiden public offering will close on March 6, while bidding for anchor investors is scheduled for March 2. The company is expected to list on the stock exchanges on March 11.IPO Structure and Share Sale Details The IPO comprises an Offer For Sale of up to 80,43,300 equity shares by promoters Manish Sharma and Ashwini Amit...

Sensex, Nifty Rise in Early Trade on IT Buying and Strong FII Inflows Mumbai, February 26: The benchmark equity indices opened higher on Thursday, supported by buying in information technology stocks and sustained foreign fund inflows.The 30 share BSE Sensex climbed 303 points in early trade to 82,579.16, extending gains from the previous session. The 50 share NSE Nifty advanced 85.1 points to 25,567.60 during the initial trading hours.IT Stocks Lead Gains Among the top performers in the Sensex pack were Tech Mahindra, Infosys, HCL Tech and Tata Consultancy Services, reflecting strong interest in IT counters. Maruti also featured among the early gainers.On the other hand, InterGlobe Aviation, UltraTech Cement, Axis Bank and ICICI...

Indian Rupee Rises 6 Paise to 90.85 Against US Dollar in Early Trade The Indian rupee strengthened by 6 paise to 90.85 against the US dollar in early trade on Thursday, supported by a weaker greenback and continued foreign investor inflows.The local currency opened at 90.86 in the interbank foreign exchange market before rising to 90.85, marking a 6 paise gain over its previous close.Dollar Weakness and Equity Gains Support Rupee Forex traders attributed the rupee’s rise to a decline in the dollar index and a positive start in domestic equity markets. Asian currencies also strengthened during the session, adding to the upward momentum for the rupee.On Wednesday, the rupee had remained range-bound and settled 4 paise higher at...

Mumbai, February 26: Indian equity markets opened on a positive note on Thursday, supported by a rebound in information technology stocks following overnight gains on Wall Street.At 9:25 am, the BSE Sensex advanced 58 points, or 0.07 percent, to 82,334. The NSE Nifty 50 rose 15 points, or 0.06 percent, to 25,498.Broader Markets Show Divergence The broader market indices reflected a mixed trend in early trade. The Nifty Midcap 100 gained 0.22 percent, while the Nifty Smallcap 100 slipped 0.08 percent, indicating selective buying across segments.Sectoral Indices Trade Mixed Sectoral performance remained varied. The Nifty PSU Bank index emerged as the top gainer, rising 1.13 percent, followed by the Nifty IT index, which climbed 1.01...

India Concludes 9 FTAs Covering 38 Nations, Expands Preferential Access to Global Trade: Piyush Goyal FTAs Provide Indian Businesses Access to Nearly Two Thirds of Global Trade India has concluded nine Free Trade Agreements covering 38 nations, providing Indian businesses preferential access to nearly two thirds of global trade, Commerce and Industry Minister Piyush Goyal said on February 26 in Mumbai.According to the minister, these agreements are designed to help Indian goods and services, along with agricultural and fisheries products and labour intensive sectors, expand into new markets. The FTAs are also expected to enable deeper integration into global value chains and enhance talent mobility.Goyal said the vision of...

Seoul, February 26: South Korea’s antitrust regulator has imposed a fine of 2.19 billion won, equivalent to $1.54 million, on e-commerce major Coupang for engaging in unfair trade practices involving its suppliers.The country’s Fair Trade Commission said on Thursday that the company pressured suppliers to lower product prices and shoulder advertising expenses to maintain its target profit margins.FTC Flags Supplier Pressure and Payment DelaysAccording to the regulator, Coupang was also found to have delayed payments to suppliers and failed to pay late interest. These actions were deemed to be in violation of the Act on Fair Transactions in Large Retail Businesses.The Fair Trade Commission issued corrective orders directing...

Bank of Korea Maintains Benchmark Rate for Sixth Straight MeetingSeoul, February 26: The Bank of Korea kept its benchmark interest rate unchanged at 2.5 percent on Thursday, signaling a cautious approach as policymakers balance stronger economic growth with mounting financial stability concerns.The decision, taken by the Monetary Policy Board at its latest rate-setting meeting in Seoul, marked the sixth consecutive hold. The move was widely anticipated as the central bank continues its easing cycle while closely monitoring currency pressures and the domestic property market.Easing Cycle Continues with 100 Basis Points Cut Since October 2024Since October 2024, the central bank has reduced the benchmark rate by a cumulative 100...

Mumbai, February 26, 2026: YES Bank (NSE: YESBANK | BSE: 532648) has initiated stringent measures to safeguard customers after detecting unusual transaction patterns on its Multi-Currency Prepaid Forex Cards issued in partnership with BookMyForex.The bank identified a spike in transaction declines triggered by its fraud monitoring systems, specifically linked to certain BIN numbers. The incident involved attempted unauthorised e-commerce transactions at 15 merchants based in a Latin American country during the early hours of February 24, 2026, between 3:30 AM and 8:30 AM IST.Fraud Impact and Containment Measures According to the bank’s internal investigation, transactions amounting to approximately USD 0.28 million were approved...

CARE Upgrades Piramal Finance to AA+; Retail AUM at ₹86,000 Crore, Total AUM Crosses ₹96,000 Crore Mumbai, February 26, 2026: Piramal Finance Limited (BSE: 544597 | NSE: PIRAMALFIN) has announced that CARE Ratings has upgraded its long-term bank facilities and debentures rating to CARE AA+; Stable from CARE AA; Stable, reflecting continued strengthening of the company’s financial and risk profile. The upgrade marks the second domestic rating action at the AA+ level in recent months, reinforcing confidence in the company’s earnings resilience, asset quality trajectory, and business stability. Rating Upgrade Reflects Retail-Led Transformation According to the company, the upgrade factors in expectations of improved business stability...

India Sugar Production 2025-26 Revised Down 5.57% to 32.40 Million Tonnes: ISMA India’s sugar production for the 2025-26 marketing year has been revised downward by 5.57 per cent to 32.40 million tonnes, according to the latest estimate released by the Indian Sugar and Bio-energy Manufacturers Association on Wednesday.The third advance estimate follows a previous projection of 34.35 million tonnes. Despite the downward revision, production remains significantly higher than last year’s output of 29.62 million tonnes.Lower Yields in Maharashtra and Uttar Pradesh Impact Output The industry body attributed the revision primarily to lower sugarcane yields in leading producing states such as Maharashtra and Uttar Pradesh.Net production...

ED Attaches ₹3,716.83 Crore Pali Hill Property of Anil Ambani in RCOM Bank Fraud Case The Enforcement Directorate has provisionally attached a luxury residential property worth ₹3,716.83 crore in Mumbai’s Pali Hill area belonging to Anil Ambani in connection with the Reliance Communications Ltd bank fraud case, according to an official statement issued on Wednesday.The property, known as ‘Abode’, has been attached under the provisions of the Prevention of Money Laundering Act, 2002.Attachment Under PMLA in Reliance Communications Case The Enforcement Directorate Special Task Force at its headquarters carried out the provisional attachment as part of its ongoing investigation into alleged financial irregularities linked to Reliance...

Shree Ram Twistex Ltd’s initial public offering witnessed robust investor participation, closing with an overall subscription of 43.66 times on Wednesday, February 25.The ₹110.24 crore IPO received bids for 46,28,41,632 shares against 1,06,00,000 shares on offer, according to NSE data, reflecting strong demand across investor categories.NII Segment Drives Oversubscription The non-institutional investors (NII) category led the demand, recording a staggering 220.30 times subscription.Retail participation was also strong, with the Retail Individual Investors (RIIs) segment subscribed 76.63 times.Meanwhile, the Qualified Institutional Buyers (QIBs) portion saw a comparatively moderate but healthy subscription of 3.94 times.Issue...

PNGS Reva Diamond Jewellery IPO Subscription Status The initial public offering of PNGS Reva Diamond Jewellery Ltd witnessed steady investor interest on the second day of bidding on Wednesday, with the issue subscribed 83 per cent overall.According to NSE data, the IPO received bids for 47,23,424 shares against 57,06,235 shares on offer.The Qualified Institutional Buyers segment was subscribed 96 per cent, indicating strong institutional participation. The Retail Individual Investors category saw 66 per cent subscription, while the non institutional investors portion was subscribed 65 per cent.The public issue is scheduled to close on February 26.Anchor Investment and IPO Details Earlier this week, the Pune based jewellery...