Business

Sensex, Nifty Close Higher as PSU Banks, Auto Stocks Lead Rally After US Tariff Ruling Mumbai, February 23: Benchmark equity indices ended Monday’s session in positive territory, supported by strong buying in PSU banks, auto and financial stocks after the US Supreme Court struck down the Trump administration’s sweeping tariff measures.Sensex Jumps Nearly 480 Points, Nifty Above 25,700 The 30 share BSE Sensex climbed 479.95 points, or 0.58 percent, to close at 83,294.66. During the trading session, the index surged as much as 671.44 points, or 0.81 percent, to touch an intraday high of 83,486.15.The 50 share NSE Nifty advanced 141.75 points, or 0.55 percent, to settle at 25,713. In intraday trade, it rose 200.2 points, or 0.78...

Government Gives Investors More Time for CBM and DSF-IV Bids New Delhi, February 23: The government has extended the bid submission deadlines for the Special Coal Bed Methane Bid Round and the fourth round of Discovered Small Fields, offering investors additional time to align proposals with recent changes in oil and gas regulations.According to the Directorate General of Hydrocarbons, bids for 13 coal-bed methane blocks will now close on March 3. The blocks are located across Jharkhand and West Bengal with one block each, Maharashtra, Madhya Pradesh, Chhattisgarh and Odisha with two blocks each, and Telangana with three blocks.Alongside the CBM round, nine contract areas under DSF-IV are also open for bidding, with the revised...

RIL Charts New Growth Path with Massive AI and Digital Ecosystem Push New Delhi, February 23: Reliance Industries Ltd is preparing for another transformative phase in its nearly 48 year journey as a publicly listed company, with a proposed investment of $110 billion in artificial intelligence, related energy infrastructure, and the broader digital ecosystem over the next seven years.According to a report by Morgan Stanley, the scale of this proposed AI investment is comparable to the capital deployment Reliance undertook between 2014 and 2021 in telecom and consumer businesses. The move signals a significant shift in the company’s capital allocation strategy, continuing its decade-wise evolution of business models.₹10 Lakh Crore AI...

New Delhi, February 23: India and France have signed an amending protocol to their Double Taxation Avoidance Convention, introducing significant changes to capital gains taxation, dividend tax rates, and the scope of treaty benefits. The revised agreement is aimed at bringing greater certainty in taxation and aligning the framework with evolving international standards.The protocol was signed during the recent visit of French President Emmanuel Macron to India. It was formalized by Ravi Agrawal, Chairperson of the Central Board of Direct Taxes, and Thierry Mathou, Ambassador of France to India, on behalf of their respective governments.Capital Gains to Be Taxed Based on Company Residency A key amendment provides full taxing rights...

Mumbai, February 23: Indian stock markets extended their upward momentum on Monday, supported by strong buying interest in public sector banks and healthcare stocks. Positive global cues further lifted investor sentiment after the US Supreme Court ruled against reciprocal tariffs announced by US President Donald Trump.Nifty and Sensex End Higher for Second Straight Session The benchmark Nifty 50 advanced 141.75 points, or 0.55 percent, to close at 25,713. Meanwhile, the BSE Sensex gained 479.95 points, or 0.58 percent, to settle at 83,294.66.Markets ended on a positive note for the second consecutive session, reflecting resilience in domestic equities despite lingering concerns over global trade developments.Technical Outlook: Key...

Mumbai, February 23: The Indian rupee strengthened by 7 paise to settle at 90.87 against the US dollar on Monday, supported by a sharp decline in global crude oil prices and a softer US dollar amid renewed global trade-related uncertainties.Despite the gains, persistent foreign fund outflows and geopolitical concerns capped further appreciation in the local currency, according to forex traders.Rupee Trades in Narrow Range During Session At the interbank foreign exchange market, the rupee opened at 90.76 and moved within a range of 90.67 to 90.89 against the greenback during the session. It eventually settled at 90.87 on a provisional basis, marking a recovery from Friday’s close of 90.94, when the currency had plunged 26 paise...

US Supreme Court Ruling Reshapes Tariff Landscape New Delhi, February 23: Indian exports to the United States will be subject to an additional 10 percent tariff for 150 days starting February 24, following a ruling by the US Supreme Court that invalidated President Donald Trump’s earlier tariff measures.The decision comes after the court ruled last week that the sweeping tariffs imposed under the International Emergency Economic Powers Act of 1977 were illegal, stating that the president had exceeded his authority.In response to the ruling, President Trump announced a 10 percent tariff on imports from all countries, including India, effective February 24 for a period of 150 days. However, within hours of this announcement, he also...

12-Storey Campus to House Over 7,000 Employees Across Key Business Functions New Delhi, February 23: Amazon on Monday announced the opening of its second largest office in Asia, located in Bengaluru, further deepening its long term commitment to India.The newly inaugurated 12 storey campus spans 1.1 million square feet and will accommodate more than 7,000 employees. The facility will support teams across e commerce, operations, payments, technology, and seller services in India, the company said in a statement.Karnataka Government Welcomes Expansion Karnataka’s Minister for Large and Medium Industries and Infrastructure Development, MB Patil, inaugurated the campus and said Amazon’s continued investment reflects India’s growing role...

AI and Big Data Strengthen Power Sector Capabilities, Says CAG K Sanjay Murthy New Delhi, February 23: The Comptroller and Auditor General of India, K Sanjay Murthy, said on Monday that the increasing use of artificial intelligence and big data analytics is enhancing the power sector’s ability to address its inherent complexities.Speaking at the National Conference on the Power Sector in the national capital, Murthy noted that advancements in technology are playing a pivotal role in the ongoing transformation of the sector. He emphasized that the adoption of Artificial Intelligence and data-driven analytics is strengthening decision-making and operational management across generation, transmission, and distribution.Power Generation...

State Contributes 21% to India’s BioEconomy, Over 10% to GSDP Bengaluru, February 23: Karnataka’s BioEconomy is projected to reach USD 39.2 billion in 2025, marking a significant rise from previous years and reaffirming the state’s leadership in the biotechnology sector at the national level, according to an official report released on Monday.The Karnataka Innovation and Technology Society under the Department of Electronics, IT, Biotechnology and Science and Technology unveiled the Karnataka BioEconomy Report 2025 in collaboration with the Association of Biotechnology Led Enterprises. The report was released by IT Minister Priyank Kharge.According to the findings, Karnataka currently contributes around 21 per cent to India’s...

Odisha Positioned for Transformative Growth in Critical Minerals New Delhi, February 23: Odisha’s critical minerals sector is projected to expand sharply over the next seven years, with its total value expected to rise from USD 8 billion in 2025 to between USD 18 billion and USD 20 billion by 2032, according to a new study by the Net Zero Energy Transition Association.The projections were unveiled during the Global Cleantech Expo Odisha 2026, highlighting what industry stakeholders describe as a structural shift in the state’s mining and value addition ecosystem.Processing and Manufacturing to Gain Strategic Share The study outlines a significant transformation in Odisha’s mineral value chain. In 2025, mining accounts for 40 percent...

Economic Survey Projects Strong Growth Across Agriculture, Industry and Services Raipur, February 23: Chhattisgarh’s economy is projected to maintain steady momentum in the financial year 2025-26, with Gross State Domestic Product at constant prices estimated to grow by 8.11 percent, according to the state’s Economic Survey Report.The report was presented in the Assembly on Monday by State Planning, Economics and Statistics Department Minister OP Chaudhary.GSDP at Constant Prices to Reach Rs 3.58 Lakh Crore As per the advance estimates, the state’s GSDP at constant prices with base year 2011-12 is expected to rise to Rs 3,58,293 crore in 2025-26. This compares with Rs 3,31,402 crore recorded in FY25, reflecting an 8.11 percent...

From Back Offices to Strategic Powerhouses India’s Global Capability Centres, commonly known as GCCs, are undergoing a structural transformation from cost optimization hubs to global growth engines, marking a decisive shift in the country’s economic trajectory. A report published by The Hindu on Monday highlighted how these centres are now integral to corporate strategy, innovation, and intellectual property creation for multinational companies.Nearly 58 percent of GCCs in India are investing heavily in Agentic AI, systems capable of reasoning and executing complex tasks. The focus has moved beyond experimentation, with enterprises scaling AI deployment across core operations.Enterprise AI and Advanced R&D Take Center Stage Indian...

Women Emerge as Key Beneficiaries of Make in India Initiative Women have emerged as the biggest beneficiaries of the Make in India initiative, Union Minister Ashwini Vaishnaw said on Monday, highlighting the large-scale job creation and skill development driven by the manufacturing push.The IT Minister stated that the flagship programme has generated employment and provided training at an unprecedented scale, strengthening India’s manufacturing ecosystem across sectors.Apple Ecosystem Generates 10 Lakh Jobs, 70% Direct Workforce Women According to Vaishnaw, the Apple ecosystem alone has created at least 2.5 lakh direct jobs in India, with nearly 70 per cent of these positions filled by women. In addition to direct employment, the...

Regulatory Clearance Covers Full Biological Inputs Portfolio New Delhi, February 23 BioPrime AgriSolutions on Monday announced that it has received regulatory approval from the Union Ministry of Agriculture for its entire portfolio of biostimulant products, spanning 20 formulations.The approval has been granted by the INM Biostimulant Cell under the ministry and covers both foliar and granular applications. With this clearance, the Pune-based company joins a select group of firms in India that hold regulatory compliance for a broad range of biological agricultural inputs.The approved formulations include products based on humic and fulvic acids, seaweed, botanicals, and amino acids.Leadership Calls It a Strategic Milestone Chief...

Commerce Ministry Reviewing US Tariff Decision New Delhi, February 23: Union Finance Minister Nirmala Sitharaman said on Monday that it is too early to assess the impact of the recent tariff changes announced by the United States, noting that the commerce ministry is currently examining the developments.Her remarks follow renewed trade tensions after the US Supreme Court ruled against sweeping import tariffs imposed earlier by the administration of Donald Trump.Subsequently, President Trump announced a 10 per cent tariff on imports from all countries, including India, effective February 24 for a period of 150 days. A day later, he stated that the tariff would be raised to 15 per cent.When asked about the likely implications of...

Government Targets Higher Foreign Tourist Arrivals Through Airport Upgrade Colombo, February 23 Sri Lanka is moving ahead with plans to expand Jaffna International Airport as part of a broader effort to increase foreign tourist arrivals and strengthen economic activity in the Northern Province.Civil Aviation Minister Anura Karunathilake said the airport expansion is aimed at supporting larger passenger aircraft and improving services for visitors traveling to the northern region."Currently, only flights with limited seating capacity could land at Palaly. We hope to develop the runway to land bigger passenger flights," the minister said, outlining the government's vision to upgrade infrastructure at the airport.Runway Development...

30th Welcomhotel Launched Near Chandigarh International Airport Kolkata, February 23 ITC Hotels Limited on Monday announced the opening of a 113 room Welcomhotel in Mohali, Chandigarh, marking the brand’s 30th Welcomhotel property and expanding its footprint in the tricity region of Chandigarh, Panchkula, and Mohali.The new property is strategically located near Chandigarh International Airport and is being operated under a management contract. The hotel is positioned to cater to rising demand for premium hospitality services across both business and leisure segments in the region.Designed for Business and Leisure Guests The Welcomhotel in Mohali offers contemporary rooms and suites, along with multiple dining venues. The property...

New Delhi, February 23: Union Cooperation Minister Amit Shah on Monday said the newly launched cooperative ride hailing platform Bharat Taxi will ensure a minimum base rate per kilometer for drivers and return 80 per cent of profits to them, positioning the service as a worker owned alternative to existing aggregators.Addressing taxi and auto drivers from Delhi NCR and Gujarat during a 40 minute town hall, Shah said traditional ride hailing companies had avoided setting a minimum fare floor to maximize corporate profits, leaving drivers without income security."I asked all three companies whether they had set a minimum base rate for their drivers. They said no," Shah said. "We will not do this. Whatever business you do, your minimum...

Seoul, February 23: South Korean and Brazilian business leaders have proposed a new roadmap to deepen bilateral cooperation in advanced manufacturing, strategic minerals, agriculture, and lifestyle industries during a high-level business forum in Seoul.The proposals were presented at the Korea-Brazil Business Forum, organized on the occasion of Brazilian President Luiz Inacio Lula da Silva’s three-day state visit to South Korea. The event brought together leading industry representatives from both nations to explore expanded economic engagement.Business Leaders Call for Investment-Led Partnership The Federation of Korean Industries and the Brazilian Trade and Investment Promotion Agency jointly outlined measures aimed at...