Business

New Delhi, February 25: Technology accessories brand DailyObjects has projected net revenue of over ₹230 crore for FY26, more than doubling its reported revenue of ₹110 crore in FY25, while guiding for EBITDA positivity in the current fiscal. The company said it expects to close FY26 with net revenue of ₹230 crore and achieve EBITDA-positive status during the year, marking a key inflection point in its profitability roadmap. Revenue Growth and ARR Milestones DailyObjects indicated that it has achieved an annual recurring revenue, or ARR, of ₹320 crore based on its current growth trajectory. Founder and CEO Pankaj Garg said the ARR milestone reflects the brand’s expanding footprint and product differentiation strategy. “Achieving an ARR...

Lupin Receives USFDA Nod for Seizure Treatment Drug Mumbai based pharmaceutical major Lupin Ltd on Wednesday announced that it has received approval from the U.S. Food and Drug Administration to market a generic medication used in the treatment of seizures in the United States.The approval covers the company’s Abbreviated New Drug Application for Brivaracetam Oral Solution 10 mg per mL, a key therapy indicated for partial onset seizures in patients.Bioequivalent to Briviact Oral Solution Lupin’s Brivaracetam Oral Solution is bioequivalent to Briviact Oral Solution, marketed by UCB, Inc.. The medication is prescribed for the treatment of partial onset seizures, a common form of epilepsy.With the regulatory clearance in place, Lupin...

Government Reviews Key Rail, Metro and Airport Projects at 109th NPG Meet Under PM GatiShakti Plan Focus on Multimodal Connectivity and Logistics Efficiency New Delhi, February 25: The government has reviewed a set of major infrastructure proposals spanning railways, urban transport, and aviation, with an emphasis on strengthening logistics efficiency and cutting travel time. The projects were evaluated at the 109th meeting of the Network Planning Group held at the Department for Promotion of Industry and Internal Trade.According to the Commerce Ministry, the review aligned with the PM GatiShakti National Master Plan, focusing on integrated multimodal infrastructure, last mile connectivity to economic and social nodes, and a Whole of...

339-Key Luxury Hotel Planned at Mindspace Madhapur New Delhi, February 25: Mindspace Business Parks REIT has announced plans to develop a luxury hotel in Hyderabad with an investment of ₹350 crore, further expanding its presence within the commercial real estate and hospitality segment.In a regulatory filing on Wednesday, the company said it has pre-leased a 5.3 lakh sq ft building at its Mindspace Madhapur campus in Hyderabad to Chalet Hotels Ltd for the development of a luxury hotel. The project is scheduled for completion by the fourth quarter of 2027-28.The upcoming development will comprise a 330-key luxury hotel along with ancillary commercial space, adding to the existing hospitality infrastructure within the campus...

Preliminary Determination Targets Crystalline Silicon Photovoltaic Cells from India New Delhi, February 25: The United States has announced preliminary countervailing duties of 125.87% on imports of certain Indian solar products, alleging that these products benefit from unfair government subsidies.The move specifically targets crystalline silicon photovoltaic cells, whether or not assembled into modules, commonly referred to as solar cells. The decision forms part of an ongoing countervailing duty investigation into imports from India, Indonesia, and the Lao People's Democratic Republic.According to an official order issued by the US Department of Commerce, preliminary affirmative determinations were announced on February 24, 2026...

AI Unicorn Boom: India Emerges as Key Hub as Startup Creation Accelerates A new report highlights a dramatic acceleration in the creation of unicorns, defined as startups valued at $1 billion and above, as artificial intelligence reshapes the global innovation landscape. The findings show that AI-driven companies are reaching unicorn status faster than ever, underscoring a structural shift in how technology businesses scale.Unicorn Creation Surges in the AI Era According to a study by Antler, the pace of unicorn formation has surged sharply over the past decade. Between 2003 and 2013, an average of just four unicorns were created annually. That figure jumped to 148 per year between 2014 and 2024.AI companies in particular are moving...

India to Defend PLI Schemes at WTO Panel After China Flags Compliance Concerns India on February 25 said its measures to promote domestic manufacturing in the automobile and renewable energy sectors are fully compliant with global trade norms and will be strongly defended before the dispute settlement panel of the World Trade Organization.The statement comes after the WTO’s dispute settlement body, acting on a request from China, announced the formation of a panel on Tuesday to examine the matter.India Regrets Panel Move Despite Bilateral Consultations A government official said India regrets China’s decision to move forward with the establishment of a panel despite extensive bilateral consultations held in good faith. During those...

Uttar Pradesh Positions Itself as Key Growth Engine for Japanese Investment Uttar Pradesh Chief Minister Yogi Adityanath met with ISHIGURO Norihiko, Chairman and CEO of Japan External Trade Organization, in Tokyo, reinforcing efforts to deepen India Japan economic cooperation.During the meeting, both sides discussed strengthening industrial collaboration and expanding Japanese investments in India, with particular focus on Uttar Pradesh’s growing economic landscape.Japanese Companies Keen to Expand in India Mr. Norihiko noted that Japanese companies operating in India are eager to scale up their activities, citing the country’s strong investment climate. He acknowledged that Uttar Pradesh is emerging as a powerful growth engine...

A fresh wave of legal action has begun in the United States after the US Supreme Court struck down key tariffs imposed under former President Donald Trump’s emergency trade powers. Major global brands are now moving to recover duties they paid under those measures.Supreme Court Ruling Opens Door to Refund Claims L'Oreal, Dyson, and Bausch + Lomb have filed lawsuits seeking refunds on tariffs paid under the International Emergency Economic Powers Act.The complaints were submitted on Monday before the United States Court of International Trade. The filings follow a 6 to 3 ruling by the Supreme Court of the United States, which found that former President Donald Trump exceeded his authority by using the International Emergency Economic...

SECL Begins Exploration Push for Rare Earth Elements in Overburden Dumps New Delhi, February 25: South Eastern Coalfields Ltd has identified seven mine dumps for the potential extraction of rare earth elements, marking a strategic move to unlock value from coal mine waste.The company, a subsidiary of Coal India Ltd, has detected trace amounts of rare earth elements in overburden dumps across major coalfields. The initiative is expected to support efforts to reduce import dependence and diversify resource recovery from existing mining operations.Tendering Process Underway for Scientific Assessment SECL Chairman and Managing Director Harish Duhan said the tendering process for exploration has already commenced. The company plans to...

AISEF and ESA Sign MoU to Strengthen India EU Spice Trade Standards Partnership Focuses on Food Safety, Sustainability, and Regulatory Alignment Kochi, February 24: The All India Spices Exporters Forum and the European Spice Association have signed a memorandum of understanding to deepen cooperation on food safety, sustainability standards, and regulatory alignment in the India EU spice trade.The agreement was formalized at the International Spice Conference 2026 in Kochi on Monday. The memorandum was signed by AISEF Chairman Emmanuel Nambusseril and ESA Chairman Benoit Winstel, according to a release issued on Wednesday.Joint Declaration Reaffirms Commitment to Consumer Health Under a joint declaration, both organizations...

Market Size Set to Expand from $57 Billion Base in FY25 India’s building materials market is projected to reach nearly $100 billion by 2030, expanding at a compound annual growth rate of 10 to 12 percent over the next five years, according to a report released on Wednesday.The sector currently stands at an estimated $57 billion in FY25, with growth being driven by rising real estate activity and increasing consumer spending on housing upgrades.Fast-Moving Electrical Goods Lead Growth Opportunity The report by Avendus Capital highlights fast-moving electrical goods as the largest opportunity within the segment. Wires and cables are expected to grow at a mid-teens CAGR, supported by ongoing grid upgrades, expansion of data centers...

Global smartwatch shipments grew 4% year on year in 2025, recovering from a decline recorded in 2024, according to Counterpoint Research’s Global Smartwatch Shipments Tracker released on Wednesday.The recovery reflects a shift in the competitive landscape, driven by hardware and software upgrades from major players, rising consumer preference for technologically advanced devices, and a stronger industry focus on health functionalities.Apple Reports First Shipment Growth Since 2022 According to Counterpoint Research, Apple recorded its first year on year shipment growth since 2022.Senior research analyst Anshika Jain said the improvement was driven by a complete portfolio refresh, including the introduction of the Series 11, Ultra...

Indian Rupee Opens Higher in Interbank Market The Indian rupee strengthened by 6 paise to 90.89 against the US dollar in early trade on Wednesday, February 25, supported by a weaker American currency and a strong opening in domestic equity markets.At the interbank foreign exchange market, the rupee opened at 90.94 against the dollar and later advanced to 90.89, marking a 6 paise gain from its previous close.On Tuesday, the local currency had traded in a narrow range and settled 6 paise lower at 90.95 against the US dollar.Dollar Buying Caps Upside for Rupee Forex market participants noted that continued dollar buying activity limited the rupee’s gains.Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex...

Mumbai, February 25: Benchmark equity indices Sensex and Nifty rallied sharply in early trade on Wednesday, recovering from the steep losses recorded in the previous session, as investors returned to information technology stocks amid supportive global cues.Sensex Jumps Over 550 Points; Nifty Reclaims 25,580 The 30 share BSE Sensex surged 558.79 points to 82,784.71 during the early trading session. The broader NSE Nifty advanced 157.05 points to 25,581.70.The rebound comes a day after both indices witnessed a sharp correction, reflecting renewed buying interest at lower levels.IT Stocks Drive Market Gains Gains were largely led by IT counters, which had come under heavy pressure on Tuesday amid concerns surrounding artificial...

Mumbai, February 25: The Indian equity markets opened on a strong note on Wednesday, tracking a recovery in technology stocks on Wall Street overnight, with IT shares emerging as the key drivers of early gains.Sensex and Nifty Rise in Early Trade As of 9:30 am, the BSE Sensex advanced 559 points, or 0.69 per cent, to 82,785. The NSE Nifty 50 climbed 157 points, or 0.62 per cent, to 25,582.Broader markets mirrored the positive trend. The Nifty Midcap 100 index gained 0.27 per cent, while the Nifty Smallcap 100 rose 0.46 per cent, indicating steady participation beyond frontline stocks.Sectoral Indices Trade Firm; IT Tops Gainers All major sectoral indices traded in positive territory during early hours.The Nifty IT index...

200,000 Taiwanese Accounts Accessed in Coupang Cyber Incident Seoul, February 25: US-listed e-commerce giant Coupang said on Wednesday that around 200,000 Taiwanese customer accounts were compromised in a recent data breach that affected approximately 33 million accounts.The disclosure follows a comprehensive forensic investigation conducted by cybersecurity firms Mandiant and Palo Alto Networks after the breach was detected in November 2025.According to the company, the unauthorized activity was carried out by a former employee.Forensic Probe Points to Former Employee In its statement, Coupang said the breach was the result of criminal activity by a former employee.“This was a crime committed by a former employee against...

Hyundai Motor, Kia and BMW Korea Recall Over 107,000 Vehicles in South Korea Over Fire Risk Concerns Hyundai Motor, Kia and BMW Korea are voluntarily recalling a combined 107,158 vehicles across 37 models in South Korea due to manufacturing defects that may increase the risk of fire, the transport ministry said on Wednesday, February 25.The large-scale recall affects electric vehicles and internal combustion models, with issues ranging from battery management software faults to defective starter motor components.Hyundai Motor and Kia Recall EVs Over Battery Management System Issue According to the ministry, 37,690 units of four Hyundai models, including the Kona Electric, are being recalled due to a problem in the battery management...

Ahmedabad, February 25, 2026 – Adani Ports and Special Economic Zone Ltd (BSE: 532921 | NSE: ADANIPORTS) has announced the early results of its previously declared cash tender offers to repurchase up to $495.14 million worth of outstanding senior notes, as part of its ongoing liability management exercise. The company is seeking to buy back:Up to $345.137 million of its 4.00% Senior Notes due 2027 Up to $150 million of its 3.10% Senior Notes due 2031Early Tender Results Snapshot As of the Early Tender Date on February 24, 2026, valid tenders received stood at:Security DescriptionAggregate Principal Amount TenderedMaximum Acceptance Amount4.00% Senior Notes due 2027$101.584 million$345.137 million3.10% Senior Notes due...

Aaditya Thackeray Targets BJP Over Maharashtra EV Policy After Rajiv Bajaj Flags ‘Failure’ Risk Mumbai, February 25: A political flashpoint has emerged in Maharashtra after Aaditya Thackeray seized upon critical remarks by Rajiv Bajaj regarding the state’s electric vehicle policy, accusing the BJP-led government of pushing it toward collapse.The comments follow Bajaj’s warning in a televised interview that Maharashtra’s EV policy could be headed for what he described as a potential “policy failure.”Bajaj Flags Delays in EV Subsidy Disbursal In the interview, Bajaj responded to questions on whether states were uniform in disbursing electric vehicle subsidies. He said that while delays in subsidy payments are not unusual across...