Business

New Delhi, February 25: With a clear policy roadmap and robust industry participation, India is poised to establish itself as a leading global hub for electric mobility manufacturing and innovation, Union Minister for Heavy Industries and Steel H.D. Kumaraswamy said on Wednesday.Speaking on the sidelines of the third FICCI National Conference on Electric Vehicles, the minister underlined the government’s commitment to accelerating electric vehicle adoption across the country.Electric Mobility Central to Viksit Bharat 2047 Vision Kumaraswamy stated that the government will explore every possible measure to encourage electric mobility adoption.“As we move towards the vision of Viksit Bharat 2047, electric mobility must remain...

Jatinder Mehra, Vice Chairman of Essar Group’s Metals & Mining Division, Passes Away at 86 New Delhi, February 25: Jatinder Mehra, a towering figure in India’s steel and metals industry with a career spanning more than six decades, passed away on February 24 at the age of 86.Mehra was serving as the Vice Chairman of the Metals & Mining Division at Essar Group, where he played a strategic role in steering the conglomerate’s metals and mining operations. Known for his deep technical knowledge and operational leadership, he was instrumental in shaping several large-scale industrial projects.Essar Group Pays Tribute to Industry Veteran In a message shared on X, Essar Group expressed deep sorrow over his demise, describing him as a...

TCS Embraces AI, Encourages Revenue Cannibalization to Drive Innovation: CEO K Krithivasan Mumbai, February 25India’s largest IT services company, Tata Consultancy Services (TCS), has made it clear that it is not intimidated by artificial intelligence. Instead, the company is actively encouraging its employees to deploy AI tools, even if it leads to revenue cannibalization.Speaking at the annual NTLF event in Mumbai, Managing Director and Chief Executive Officer K Krithivasan said TCS is pushing its workforce to leverage AI directly with clients, regardless of short term revenue implications.TCS Not Afraid of AI Impact on Jobs Krithivasan emphasized that the company is not concerned about AI replacing jobs. Rather, TCS is focusing...

Ministry of Power Forwards CAFE-III Proposal to Prime Minister’s Office New Delhi, February 25: The proposal for the next phase of Corporate Average Fuel Efficiency norms, known as CAFE-III, has been sent to the Prime Minister’s Office following consultations with stakeholders, Union Heavy Industries Minister H D Kumaraswamy said on Wednesday.Addressing reporters, Kumaraswamy confirmed that discussions had already taken place between industry stakeholders and the Ministry of Power.“We already had a meeting with stakeholders and the Ministry of Power. According to my information, the Ministry of Power has now, after the meeting with stakeholders, sent the proposal to the PMO,” he said.The development marks a key step in finalising...

Makmor Signs LoI with MD Aircraft GmbH to Acquire 10 MDA1 eViator Electric Regional Aircraft Mumbai, February 25 Makmor, a Bengaluru-headquartered business management consulting firm, announced on Wednesday that it has signed a letter of intent with MD Aircraft GmbH to acquire 10 electric regional passenger aircraft, aiming to tap into the rising demand for regional air travel in India.One of the First Structured Commitments for MDA1 eViator The agreement marks one of the first structured fleet commitments for the nine-seater, all-electric short take-off and landing passenger aircraft, the MDA1 eViator.According to Makmor, the aircraft is designed to operate from shorter regional airstrips while offering significantly lower...

New Delhi, February 25India’s ongoing cricket season is driving a sharp rise in domestic travel, with accommodation demand climbing significantly across match hosting cities, particularly beyond major metropolitan hubs, according to online accommodation platform Airbnb.Ranchi, Thiruvananthapuram Lead Year on Year Search Growth Airbnb said searches by Indian guests for several match hosting cities, including Ahmedabad, Ranchi and Thiruvananthapuram, have risen notably compared to the same period last year.Emerging cricket centres recorded some of the strongest growth. Ranchi witnessed nearly a 120 per cent increase in searches year on year, while Thiruvananthapuram saw growth of over 110 per cent. Jaipur and Lucknow also registered...

India–France Tax Treaty Revised: Dividend Tax Cut for Sanofi, Renault, L'Oreal; Capital Gains Tax Scope Expanded India Updates 30-Year-Old Tax Treaty with France New Delhi, February 25: India and France have revised their three-decade-old tax treaty, introducing significant changes that lower dividend taxes for large French investors while strengthening India’s ability to tax certain cross-border transactions.According to a BBC report, the updated agreement expands India’s rights to tax specific transactions, including capital gains arising from the sale of shares, even in cases where a French entity holds less than 10 percent in an Indian company.Dividend Tax Rates Reworked for French Investors Under the amended protocol, dividend...

Artificial Intelligence has rapidly shifted from being a futuristic concept to an immediate operational priority for Corporate Real Estate teams in India, according to a new report released on Wednesday.Data compiled by JLL shows that 91 percent of companies are currently piloting AI across office and workplace use cases. This marks a sharp rise from less than 5 percent in 2023, reflecting a dramatic acceleration in enterprise-level experimentation and adoption.AI Becomes Core to Cost Reduction and Space Optimization The report highlights that Indian companies are increasingly deploying AI tools to reduce operating costs and enhance space utilization. With hybrid work models reshaping workplace strategies, businesses are focusing on...

Union Minister for Heavy Industries and Steel HD Kumaraswamy on Wednesday said the government’s ₹12.2 lakh crore capital expenditure allocation in the Union Budget 2026 to 27 will significantly accelerate India’s construction equipment industry and position it for global leadership.Addressing the Annual Construction Equipment Finance Conclave in New Delhi, the minister underlined that sustained public investment and a resilient financing framework are central to India’s infrastructure and manufacturing expansion.₹12.2 Lakh Crore Capex Signals Multi-Year Infrastructure Push Kumaraswamy described the ₹12.2 lakh crore public capital expenditure as a historic and structural commitment that spans highways, railways, logistics corridors...

High Speed Rail and Freight Corridors Set to Drive ₹2 Lakh Crore Financing Opportunity State owned Indian Railway Finance Corporation Ltd is positioning itself at the center of a major railway expansion cycle following the Union Budget announcements. The proposed seven high speed rail corridors and a new dedicated freight corridor are expected to unlock significant funding requirements over the next five years.Manoj Kumar Dubey, Chairman and Managing Director of Indian Railway Finance Corporation Ltd, said the company expects to play a key role in financing what he described as more than $20 billion in investments during this period.According to Dubey, IRFC is already working on funding solutions that include external commercial...

Minister Calls Episode Shocking and Against Established Norms Union Communications Minister Jyotiraditya Scindia on Wednesday termed the reported lavish arrangements made for a Bharat Sanchar Nigam Limited director as improper and a clear violation of established rules and traditions. He described the episode as unacceptable and confirmed that a show cause notice has been issued.The controversy surfaced after details emerged regarding elaborate preparations made for BSNL Director Vivek Bansal during his proposed visit to Prayagraj in Uttar Pradesh.Responding to media queries, Scindia stated that he had made his position clear. He said the reported conduct was in breach of norms and traditions and was shocking. He added that a show...

OYO’s parent company, PRISM, has appointed former Securities and Exchange Board of India Chairman Ajay Tyagi as an Independent Director on its Board, as the hospitality platform moves closer to accessing public markets.The announcement comes at a time when PRISM is preparing for its proposed public listing and is focused on reinforcing its governance structure.Board Strengthening as IPO Preparations Gather Pace PRISM said the appointment is aimed at strengthening its board and governance framework as it continues to scale operations and position itself for the public markets.According to the company, Tyagi joins an experienced board comprising professionals with backgrounds in governance, consumer businesses, technology, and...

Crude Oil Prices Edge Higher in Wednesday Trade New Delhi, February 25: Crude oil prices advanced in futures trading on Wednesday, supported by fresh positions created by market participants in response to firm spot demand.On the Multi Commodity Exchange, crude oil contracts for March delivery climbed by Rs 17, or 0.28 percent, to trade at Rs 6,025 per barrel. The contract recorded a business turnover of 2,246 lots during the session.Market participants attributed the uptick in prices to increased activity in the futures segment, which kept crude oil rates elevated through the trading day.Global Crude Benchmarks Also Trade Higher In the international market, crude benchmarks were also trading in positive territory.West Texas...

Massive Block Deals Spark Sharp Sell Off in SpiceJet Stock Shares of SpiceJet tumbled 10 percent on Wednesday, touching a fresh low after heavy block deals on the BSE led to intense selling pressure in the counter.Nearly 8.4 percent of the airline’s equity changed hands during the trading session, according to media reports. Around 128.6 million shares were executed through 17 block deals, placing SpiceJet among the most actively traded stocks of the day.Trading volumes surged to more than 16 times the three month full day average, highlighting the scale of activity and the strong bearish sentiment surrounding the stock.By 11 am, SpiceJet shares were locked at ₹12.88 apiece, marking their lowest level in more than 11 years.Seven...

Gold and Silver Prices Surge on Trade Uncertainty, Weak Dollar; MCX Gold at Rs 1,61,180 Gold and silver prices rallied sharply on Wednesday, February 25, as investors turned to safe-haven assets amid escalating global trade uncertainty, geopolitical tensions, and a weakening US dollar.MCX Gold and Silver Futures Climb Sharply On the domestic front, gold and silver futures posted strong gains on the Multi Commodity Exchange.MCX gold April futures rose 0.76 percent to Rs 1,61,180 per 10 grams around 11:30 am. Silver outperformed, with MCX March futures climbing 3.20 percent to Rs 2,69,075 per kg.The sharp move in silver reflects heightened volatility in the precious metals segment, even as gold continues to consolidate near record...

Project to Generate 1.7 Lakh Carbon Credits Over 10 Years New Delhi, February 25: Maruti Suzuki India Ltd on Wednesday announced that its in plant railway siding in Gujarat has been registered as the world’s first modal shift transportation project under Verra’s Verified Carbon Standard initiative.The project is expected to generate approximately 1.7 lakh carbon credits over a 10 year crediting period, spanning FY 2023-24 to FY 2032-33, by shifting vehicle dispatches from road transport to railways.Following independent verification of carbon emission savings, Verra will issue 1.7 lakh carbon credits to the company under its Verified Carbon Standard program.What Is Verra’s Verified Carbon Standard Program Verra is a global non...

Gold Futures Climb 0.83% in Domestic Trade Gold prices surged in futures trading on Wednesday, February 25, with contracts rising by Rs 1,322 to reach Rs 1,61,291 per 10 grams. The upward move came as market participants created fresh positions, tracking firm spot demand.On the Multi Commodity Exchange, gold contracts for April delivery advanced by Rs 1,322, marking a gain of 0.83 per cent. The contracts traded at Rs 1,61,291 per 10 grams, with a total business turnover of 1,671 lots during the session.Fresh Positions Support Rally Market analysts attributed the rise in gold prices to renewed buying interest. Speculators increased their exposure by building fresh positions, reflecting confidence in prevailing demand conditions in...

Silver Futures Rally on MCX as Fresh Positions Boost Prices New Delhi, February 25: Silver prices surged sharply in futures trading on Wednesday, climbing 3.07 per cent to Rs 2.68 lakh per kilogram amid renewed uncertainty surrounding US trade policy.On the Multi Commodity Exchange, silver contracts for March delivery advanced by Rs 8,011, or 3.07 per cent, to settle at Rs 2,68,755 per kilogram. The price movement was backed by a trading volume of 2,095 lots, reflecting active participation in the market.Market analysts attributed the rise in silver prices to fresh positions built by participants, which added momentum to the upward move in the precious metal.Comex Silver Gains Nearly 4% in Overseas Trade In the international...

Sinnar Thermal Power Takeover Finalised Through Insolvency Process New Delhi, February 25: State-owned power major NTPC Ltd on Wednesday announced that a consortium comprising the company and Maharashtra State Power Generation Company Ltd has completed the acquisition of Sinnar Thermal Power Ltd on February 24.The acquisition was carried out under the Corporate Insolvency Resolution Process as per the Insolvency and Bankruptcy Code 2016. In a regulatory filing dated February 24, 2026, NTPC said the takeover was executed in accordance with the Resolution Plan approved by the National Company Law Tribunal.The company, however, did not disclose the value of the transaction.1,350 MW Coal-Based Plant in Maharashtra Added to Portfolio...

Vikram Solar Secures 378.75 MW Solar Module Order from Indian Oil NTPC Green Energy for Gujarat Project Major Solar Module Supply Deal for 600 MW Gujarat Project New Delhi, February 25: Vikram Solar Limited announced on Wednesday that it has secured a supply order for 378.75 MW of high efficiency solar modules from Indian Oil NTPC Green Energy Private Limited.Indian Oil NTPC Green Energy Private Limited is a joint venture between Indian Oil Corporation Ltd and NTPC Green Energy Ltd.According to the company statement, Vikram Solar has been awarded the order under a major project tendered by NTPC Green Energy Limited, the renewable energy arm of NTPC Ltd.Deployment Near Nakhatrana in Kutch, Gujarat The 378.75 MW modules will be...