Business

The initial public offering of Omnitech Engineering Ltd, a manufacturer of precision engineered components, opened to a muted response on Wednesday, securing 8 percent subscription on the first day of bidding.According to NSE data, the IPO received bids for 15,63,738 shares against 1,89,09,890 shares on offer.Omnitech Engineering IPO Subscription Details The demand across investor categories remained modest during the opening session.Qualified Institutional Buyers subscribed 13 percent of their allocated portion. The category for non institutional investors saw 6 percent subscription, while Retail Individual Investors also subscribed 6 percent of their quota.The ₹583 crore IPO will remain open for subscription until February 27...

RBI MPC Member Saugata Bhattacharya Sees Negligible Chances of Repo Rate Hike Amid Inflation Risks Mumbai, February 25: The possibility of a benchmark interest rate hike remains “negligible” despite emerging inflationary pressures, said Saugata Bhattacharya, an external member of the Monetary Policy Committee of the Reserve Bank of India, on Wednesday.His remarks come at a time when geopolitical tensions, elevated crude oil prices, rising metal costs, and weather-related risks are seen weighing on the consumer price inflation outlook.Repo Rate Outlook: No Immediate Need for Tightening Bhattacharya said he sees little likelihood of the central bank needing to raise the repo rate in the near term. Earlier this month, he and the other...

The European Commission has announced stricter import controls on arachidonic acid oil sourced from China, effective February 26, following findings that linked the ingredient to contamination in infant formula products across multiple countries.The move comes after a series of recalls by major global manufacturers and a detailed risk assessment by the European Food Safety Authority, which has set a new safety threshold for infants.Infant Formula Recalls Across 60 Countries Since December, leading infant nutrition producers including Nestlé, Lactalis, and Danone have recalled infant formula products in 60 countries.Laboratory tests detected cereulide, a toxin produced by the bacterium Bacillus cereus. The toxin can trigger...

Working Capital to Ease as Projects Move Into Operational Phase Genus Power Infrastructure expects its operating cash flows to turn positive by FY27 as its large-scale smart meter installations transition into the operational stage, according to Joint Managing Director Jitendra Kumar Agarwal.Agarwal said that concerns around cash generation are largely linked to upfront investments required to execute multiple smart metering projects simultaneously, rather than delays in payments or weak collections.He stated that by the end of the financial year, the company expects to report positive cash flow.Upfront Investment Temporarily Locks Capital The company is currently deploying smart meters across a wide number of sites at the same...

Bengaluru, February 25: Job openings across India’s semiconductor design Global Capability Centers, commonly known as GCCs, witnessed a revival in the October to December quarter of 2025, with November and December recording the strongest month on month increase in openings during the year.However, despite the late year momentum, overall hiring volumes remained below the levels seen in early 2025, according to Careernet’s report titled India’s Semiconductor Design GCC Talent Ecosystem CY 2025.Hiring Trend: Decline Until October, Recovery in Q4 2025 An analysis of hiring data across the top 50 semiconductor design GCCs showed that open positions declined steadily from January to October 2025.The December quarter marked a shift in...

New Income Tax Act 2025: Draft Forms Tighten HRA Claims, Foreign Tax Credit Rules and Audit Disclosures The government has released draft income tax forms under the new Income Tax Act, 2025, introducing stricter disclosure requirements for House Rent Allowance claims, foreign tax credits, PAN applications and tax audit reporting.The new law, which replaces the six decade old Income Tax framework, will come into effect from April 1, 2026. Draft Rules and Forms have been circulated for stakeholder consultation, with final notifications expected next month.Tenant-Landlord Relationship Disclosure Made Mandatory for HRA Claims A key change in the draft forms is the introduction of Form 124, which requires an assessee to disclose any...

Jairam Ramesh Questions US Tariff Move on Indian Solar Modules New Delhi, February 25: The Congress on Wednesday termed the India US interim trade deal as distinctly one sided and called on the government to put the agreement on hold, warning that it could prove disastrous for lakhs of farmers across the country.In a post on X, Congress general secretary in charge of communications, Jairam Ramesh, pointed to the recent US decision to impose a 125.87 percent duty on imports of solar modules from India.He questioned the commitment of the US leadership to the spirit of the trade pact. “What does this say of President Trump’s commitment in letter and spirit to the India US trade deal, which has been so praised and applauded by his...

Blackstone-Backed Bagmane Prime Office REIT Plans $3.9 Billion IPO Launch Blackstone-backed Bagmane Prime Office REIT is preparing to launch its initial public offering as early as next month, targeting a valuation of approximately $3.9 billion, according to people familiar with the development.The Bengaluru-based real estate platform has received regulatory approval and has started investor roadshows, sources said, adding that discussions remain ongoing and certain details may still change.IPO Size and Structure According to the draft prospectus filed in December, the proposed offering aims to raise ₹40 billion. The issue will comprise:Up to ₹30 billion in newly issued units A secondary sale of ₹10 billion by BlackstoneWhile...

Indian tech startups raised $9.1 billion in 2025, marking a 23 per cent year-on-year increase, even as investors adopted a more selective and milestone-linked funding approach, according to a joint report by Nasscom and Zinnov.The findings highlight a clear transition in India’s startup ecosystem, moving away from volume-driven expansion toward execution-led maturity. Capital is increasingly being channelled into scalable ventures that demonstrate commercial readiness and strong operational performance.Early-Stage Deals Dominate Investment Activity The report noted that 74 per cent of total deal activity in 2025 took place at the seed and early stages. This trend underscores the resilience of India’s innovation pipeline, even as...

Indian Rupee Trades in Narrow Band for Second Straight Session The Indian rupee remained confined to a tight range on Wednesday, closing at 90.96 on a provisional basis against the US dollar. The domestic currency slipped marginally by 1 paisa compared to its previous close of 90.95, reflecting cautious sentiment in the foreign exchange market.At the interbank foreign exchange market, the rupee opened at 90.94 against the dollar and moved within a narrow band throughout the session before settling at 90.96. This marks the second consecutive day of range-bound trading.Weaker Dollar and Equity Gains Provide Support Forex traders indicated that a softer US dollar and positive domestic equity market sentiment helped limit losses in the...

China EV Market Slowdown: Li Auto Deliveries Drop 32%, BYD Sales Slide as Profit Outlook Faces Pressure Weak Demand and Rising Costs Weigh on Chinese EV Makers New Delhi, February 25: The long-term profit outlook for Chinese electric vehicle manufacturers is coming under strain as weakening consumer demand and rising operating costs begin to reshape the world’s largest EV market.After years of rapid expansion, investors are now questioning whether the high growth trajectory can continue in an industry that has become increasingly crowded and more expensive to operate.Li Auto Deliveries Fall Nearly 32% in November Recent sales data underscores the mounting challenges. Overall EV sales in China failed to break out of a prolonged...

US Companies Lead as GCCs Drive 36% of Workspace Demand Across Seven Major Cities Delhi, February 25: Foreign companies, largely headquartered in the United States, have leased 101 million square feet of prime office space across India’s seven major cities over the past five years to establish Global Capability Centres, according to Colliers India.Data from Colliers shows that gross office leasing between 2020 and 2025 stood at 280.2 million square feet across Bengaluru, Chennai, Delhi-NCR, Hyderabad, Kolkata, Mumbai, and Pune. Of this, 101 million square feet was absorbed by foreign firms setting up GCCs, accounting for 36 per cent of the total workspace demand in these key markets.US-based corporations alone leased 71 million...

Smartphones Become India’s Top Export Category as Overseas Shipments Eye $30 Billion in 2025 India Positions Itself as a Global Smartphone Manufacturing Hub New Delhi, February 25: Smartphones have emerged as India’s largest export category, with overseas shipments projected to reach $30 billion in calendar year 2025, Union Electronics and IT Minister Ashwini Vaishnaw said on Wednesday.Sharing the update in a social media post titled “Smartphones: India’s No. 1 export category,” the minister highlighted that exports from January to December 2025 are expected to touch $30 billion, underscoring India’s growing prominence in global electronics manufacturing.“Becoming the world’s smartphone manufacturing hub,” Vaishnaw noted, reflecting...

Vikram Solar, Waaree Energies See Limited Impact from US Countervailing Duties on Indian Solar Imports New Delhi, February 25: Vikram Solar and Waaree Energies have indicated that they do not foresee any significant negative impact from the United States decision to impose preliminary countervailing duties on certain solar products imported from India.The comments come after the US Department of Commerce announced preliminary countervailing duties of 126 per cent on specific solar imports from India.Vikram Solar Cites Diversified Supply Chain Strategy Gyanesh Chaudhary, Chairman and Managing Director of Vikram Solar, said the preliminary anti dumping and countervailing duties apply specifically to cells of Indian origin.He...

Government Mandates E20 Petrol with Minimum 95 RON Across India from April 1, 2026 Ethanol-Blended Petrol to Be Sold Nationwide with Higher Octane Standard New Delhi, February 25: The central government has mandated the sale of petrol blended with up to 20 per cent ethanol, carrying a minimum Research Octane Number of 95, across all states and Union Territories from April 1, 2026.In a notification dated February 17, the oil ministry directed oil marketing companies to supply ethanol-blended motor spirit with ethanol content of up to 20 per cent, in line with Bureau of Indian Standards specifications, and with a minimum RON of 95. The directive applies nationwide, although the government has retained the power to grant exceptions in...

Vikram Solar Targets Higher Market Share as AI and Data Center Demand Boosts Green Energy Push Kolkata-based solar energy major Vikram Solar is positioning itself to capture a larger share of India’s renewable energy market as demand accelerates, driven by the rapid expansion of artificial intelligence and data center infrastructure.Chairman and Managing Director Gyanesh Chaudhary said the company currently commands around 10 to 12 percent of the domestic market and expects this share to rise steadily over the next two financial years.AI and Data Centers Seen as Major Growth Catalyst Chaudhary described AI and data centers as a transformational opportunity for India’s renewable energy sector.“Regarding AI and data centers, it’s a...

Early Recovery Signals Emerge in Indian Markets New Delhi, February 25: Early signs of recovery are beginning to surface in Indian equity markets, with the Nifty projected to reach 27,958 over the next 12 months under a base case scenario, according to a report released on Wednesday by PL Capital.The brokerage outlined a range of outcomes for the benchmark index. In a bullish scenario, a 20x forward earnings multiple implies potential upside toward 30,497. On the other hand, a more conservative bear case places the Nifty target at 26,486.Earnings Growth and Corporate Performance Remain Resilient PL Capital expects earnings per share growth at 3.8 per cent in the near term. However, the medium term earnings trajectory remains robust...

KOSPI Surges Past 6,000 for First Time as Samsung, SK Hynix and Hyundai Motor Lead Seoul Market Rally Seoul shares rallied sharply on Wednesday, with the benchmark index closing above the 6,000 level for the first time, powered by strong gains in technology and automobile stocks. The Korean won also strengthened significantly against the US dollar, while bond yields declined.KOSPI Hits Record High Above 6,000 The Korea Composite Stock Price Index KOSPI jumped 114.22 points, or 1.91 percent, to end at a record 6,083.86. During the session, it touched an intraday high of 6,144.71.The milestone extends the index’s winning streak to five consecutive sessions. In recent weeks, the KOSPI has sustained strong upward momentum, first...

Hindustan Oil Exploration Company Limited has announced a significant leadership transition, with Managing Director Ramasamy Jeevanandam set to step down at the end of March and Baroruchi Mishra appointed as the new Managing Director and Chief Executive Officer.Ramasamy Jeevanandam to Step Down on March 31 In a stock exchange filing on Wednesday, February 25, the company said that Ramasamy Jeevanandam will resign as Managing Director effective at the close of business hours on March 31, 2026.The company cited health issues and other personal reasons for his resignation. It acknowledged his long association with the organisation, highlighting that he served Hindustan Oil Exploration Company for over 11 years. Of this, more than eight...

Chennai, February 19: Artificial Intelligence driven platforms have moved beyond being optional enhancements to becoming core infrastructure for telecom operators, helping them counter complex fraud risks and unlock new digital revenue streams, according to Subex Ltd.The Bengaluru based telecom AI solutions provider said operators globally are shifting away from traditional rule based fraud and assurance systems that depend on manual reviews and static thresholds.Legacy Fraud Systems Struggle With Modern Telecom Complexity According to Subex Ltd, conventional fraud and revenue assurance tools are increasingly unable to cope with the scale and complexity of modern telecom networks. Today’s networks manage massive traffic volumes and...