Business

New Delhi, February 17: IIFL Finance Ltd announced on Tuesday that its public issue of secured, redeemable, non convertible debentures has been fully subscribed within the first half of the opening day, underscoring strong investor demand for the offering.The non banking financial company said the swift subscription reflects investor confidence in its financial position and growth outlook.Strong Early Subscription on Opening Day The public issue opened earlier in the day with an initial base size of ₹500 crore. The company has also included a green shoe option to retain oversubscription up to ₹1,500 crore, taking the total potential issue size to ₹2,000 crore.According to live data available on BSE Ltd, the issue had received...

New Delhi, February 17: When users interact with AI chatbots, generate images, or rely on smart applications, the experience feels seamless and intuitive. Yet behind that polished interface lies a vast, collaborative ecosystem of developers building and maintaining the digital infrastructure that makes modern technology possible.OpenUK CEO Amanda Brock describes software developers as the invisible architects of the AI era. Using a simple analogy, she explains that while people focus on the “toppings” — the flashy AI products and applications — the real strength lies in the “base.” That base is open source: shared code, datasets, tools, and infrastructure that power cloud platforms, mobile apps, cybersecurity systems, and...

Leadership Transition at Sterlite Group New Delhi, February 17: Sterlite Group on Tuesday announced the appointment of Sumil Mathur as its Group Chief Financial Officer, marking a significant leadership addition as the conglomerate sharpens its focus on financial discipline and long term value creation.With close to three decades of experience in financial leadership, Mathur will spearhead the Group’s financial strategy, governance framework, and capital allocation priorities. He will also oversee risk management and drive financial transformation initiatives aimed at supporting sustainable growth across the Group’s diverse business portfolio.Mandate to Strengthen Governance and Capital Framework In his new role, Mathur will be...

Guar Gum Prices Edge Higher in March Contract New Delhi, February 17: Guar gum prices moved higher in futures trading on Tuesday as speculators expanded their positions, tracking firm demand in the physical market.On the National Commodity and Derivatives Exchange, guar gum contracts for March delivery rose by Rs 9, or 0.09 per cent, to settle at Rs 9,965 per quintal. The contract had closed at Rs 9,956 per quintal in the previous session.The uptrend was supported by increased participation in the market, with 59,375 lots traded during the session.Strong Physical Market Trend Supports Futures Market participants attributed the marginal rise in guar gum futures to a firm trend in the spot market. Traders reportedly increased their...

AI Impact Summit Highlights 26 Groundbreaking Studies Transforming Smallholder Farming New Delhi, February 17: Artificial intelligence is no longer a distant promise for agriculture. From smart necklaces tracking cattle health in Kashmir to satellite systems predicting sugarcane sweetness with 95 per cent accuracy, AI is already generating measurable outcomes for millions of smallholder farmers.Speaking at the AI Impact Summit in the national capital, Maharashtra Resident Commissioner R Vimala said the technology is reaching farmers across regions and income groups."AI is not just for the privileged few. It's for every farmer in every corner of the Global South," she said at the launch of a compendium documenting 26 groundbreaking...

Coriander Futures Rise to Rs 10,550 on NCDEX Amid Strong Spot Demand New Delhi, February 17: Coriander prices moved higher in futures trading on Tuesday as increased speculative activity and firm trends in the physical market supported gains.Coriander April Contract Gains on NCDEX On the National Commodity and Derivatives Exchange, coriander contracts for April delivery rose by Rs 14, or 0.13 percent, to Rs 10,550 per quintal. The contract had previously settled at Rs 10,536 per quintal.The upward movement was recorded across 15,480 lots, reflecting heightened participation in the April futures segment.Spot Market Strength and Limited Supplies Support Prices The rally in coriander futures was largely driven by a strong trend in...

New Delhi, February 17: Aluminium prices decline in futures trade on Tuesday as traders cut positions amid subdued domestic demand. However, firm global trends help limit the downside.February, March Aluminium Contracts Slip on MCX On the Multi Commodity Exchange, aluminium for February delivery falls by 75 paise, or 0.24 per cent, to Rs 306.95 per kilogram. The contract records a trading volume of 2,681 lots.The March contract also moves lower, slipping by 35 paise, or 0.11 per cent, to Rs 311.70 per kilogram, with a trading volume of 1,952 lots.Analysts say weak demand from consuming industries weighs on aluminium prices in the domestic market, prompting traders to reduce their exposure.Global Aluminium Prices Rise on LME In...

Jammu, February 17: Jammu and Kashmir has recorded steady growth in Goods and Services Tax collections over the past three financial years, with total GST revenue touching Rs 24,080.79 crore, reflecting improved compliance and an expanding tax base in the Union Territory.The details were shared in the Assembly in response to a written question by National Conference MLA Pirzada Farooq Ahmed. Chief Minister Omar Abdullah outlined the year-wise performance, highlighting consistent growth in GST collections.Year-Wise GST Collections in Jammu and Kashmir According to the data presented, GST collections in Jammu and Kashmir have shown a steady upward trend:2022–23: Rs 7,272.15 crore 2023–24: Rs 8,128.44 crore 2024–25: Rs 8,680.20...

February and March Contracts Decline in Futures Trade New Delhi, February 17: Crude oil prices declined by nearly 1 per cent in futures trading on Tuesday, weighed down by weak demand in the physical market and mixed trends in overseas benchmarks.On the Multi Commodity Exchange, crude oil for February delivery fell by Rs 57, or 0.98 per cent, to Rs 5,734 per barrel. The contract recorded a trading turnover of 6,851 lots.The March contract also moved lower, easing by Rs 47, or 0.81 per cent, to Rs 5,752 per barrel, with a trading volume of 10,277 lots.Subdued Physical Demand Impacts Sentiment The decline in domestic crude oil futures was attributed to muted demand from spot markets. Traders remained cautious as mixed global price...

New Delhi, February 17: Zinc prices declined in futures trading on Tuesday, tracking weakness in global markets and muted demand from consuming industries in the domestic spot market.MCX Zinc Futures Fall for February and March Contracts On the Multi Commodity Exchange, zinc futures for February delivery fell by Rs 1.65, or 0.51 per cent, to Rs 319.50 per kilogram. The contract recorded a trading volume of 1,697 lots during the session.The March contract also witnessed a decline, slipping by Rs 1.55, or 0.48 per cent, to Rs 321.60 per kilogram. Trading activity in the March series stood at 2,981 lots.The downturn in both contracts reflects cautious sentiment among market participants amid weaker global signals and limited buying...

New Delhi, February 17: Copper prices declined by more than 1 per cent in futures trade on Tuesday, tracking weak global trends and subdued demand from domestic consuming industries.MCX Copper February Contract Drops 1.2% On the Multi Commodity Exchange, copper for February delivery slipped by Rs 14.40, or 1.2 per cent, to Rs 1,183.65 per kilogram. The contract witnessed a trading volume of 16,193 lots during the session.The decline reflects cautious sentiment among market participants as softer demand from key consuming sectors weighed on prices.March Copper Futures Also Under Pressure The March contract mirrored the weakness, falling by Rs 15.55, or 1.27 per cent, to Rs 1,207 per kilogram. The contract recorded a trading volume...

MCX Gold Futures Slide to Rs 1.52 Lakh per 10 Grams Gold prices declined sharply in futures trade on Tuesday, slipping more than 1 percent as easing geopolitical tensions and a stronger US dollar reduced demand for safe haven assets.On the Multi Commodity Exchange, gold contracts for April delivery fell by Rs 2,228, or 1.44 percent, to Rs 1,52,532 per 10 grams. The decline was recorded in a trading turnover of 7,553 lots.The yellow metal traded on a softer note as prices consolidated following recent volatility. Profit booking, combined with a firm US dollar and changing expectations around interest rates from the US Federal Reserve, weighed on sentiment.Volatile Correction Continues in 2026 In 2026, gold and silver are undergoing...

Silver Futures Drop Sharply on Multi Commodity Exchange New Delhi, February 17: Silver prices declined sharply on Tuesday, falling more than 2 per cent in the domestic futures market, mirroring weakness in global cues and subdued liquidity due to market holidays across major Asian economies.On the Multi Commodity Exchange, silver contracts for March delivery plunged by Rs 6,330, or 2.64 per cent, to Rs 2,33,561 per kilogram. The decline was recorded in a business turnover of 5,820 lots, indicating active participation despite the price drop.The correction in domestic silver futures came as international prices retreated significantly, exerting downward pressure on local markets.Comex Silver Futures Fall Nearly 5% in Global Trade...

State-of-the-Art AC Manufacturing Facility to Strengthen Andhra Pradesh’s HVAC Hub Status Amaravati, February 17: Carrier Air Conditioning & Refrigeration Ltd has signed a lease agreement to establish a state-of-the-art air-conditioning manufacturing facility in Sri City, Andhra Pradesh, with a total investment of Rs 1,000 crore. The project is expected to generate 1,000 direct jobs and 2,000 indirect employment opportunities.The upcoming facility will be developed on a 39-acre site and will focus on producing sustainable and energy-efficient cooling solutions to meet rising domestic and global demand.Lease Agreement Signed in Presence of Senior Officials The lease agreement was formally signed and exchanged by Sundaresan Narayanan...

AI Will Not Replace Doctors, Says Anupriya Patel; Urges AI Literacy in Healthcare Sector New Delhi, February 17: Concerns that artificial intelligence could replace doctors and clinicians are largely unfounded, Union Minister Anupriya Patel said on Tuesday, asserting that AI is designed to assist and augment medical professionals rather than displace them.Speaking at the AI Impact Summit 2026 in the national capital, Patel, Minister of State in the Ministry of Health and Family Welfare, called on the medical community to become AI literate and embrace the technology as a supportive tool. She emphasized the need for cost-effective AI solutions that are ethical, responsible, and tailored to India’s unique healthcare challenges.AI in...

Cottonseed Oil Cake Gains Rs 6 in March Contract on NCDEX New Delhi, February 17: Cottonseed oil cake prices edged higher in futures trade on Tuesday, supported by fresh buying from market participants amid firm demand in the cattle feed segment.On the National Commodity and Derivatives Exchange, the March delivery contract of cottonseed oil cake rose by Rs 6, or 0.19 percent, to trade at Rs 3,215 per quintal. The contract had settled at Rs 3,209 per quintal in the previous session.Open interest for the March contract stood at 55,850 lots, indicating active participation in the market.Fresh Positions and Strong Demand Support Prices Traders said the uptick in prices was largely driven by speculators creating fresh positions. The...

AI-Powered Ports Could Cut Logistics Costs by ₹15,000 Crore Annually New Delhi, February 17: India can unlock significant savings in cargo handling and logistics by embracing artificial intelligence in its ports ecosystem, according to Gourav Vallabh, Member of the Economic Advisory Council to the Prime Minister.Speaking at the session titled AI-Powered Ports: Reimagining Efficiency and Operations during the AI Impact Summit, Vallabh said that the use of AI in cargo handling alone can result in an estimated saving of ₹20,000 crore. In addition, the country can potentially reduce logistics costs by ₹15,000 crore every year through AI-driven efficiencies.He emphasized that the central question is no longer whether artificial...

Government Begins Consultations With Industry on Additional Safeguards New Delhi, February 17: The issue of deepfakes is escalating rapidly and requires significantly stronger regulation to safeguard children and society, Information Technology Minister Ashwini Vaishnaw said on Tuesday. He confirmed that the government has initiated consultations with industry stakeholders to explore additional safeguards beyond the existing legal framework.Speaking at a briefing during the AI Summit, the minister emphasized that discussions are currently underway with social media platforms to address the growing threat of deepfakes and to evaluate age-based restrictions. The objective, he said, is to determine the most appropriate regulatory pathway...

AI Impact Summit 2026 Signals India’s Strategic Push to Become a Global AI System Builder The AI Impact Summit 2026, currently underway in New Delhi, is far more than a technology gathering. According to Pratik Mathur, Consul General of India in Shanghai, the summit represents a clear statement of India’s strategic intent to position itself among the world’s leading AI system builders.In a commentary published on China’s business portal Caixin Global, Mathur described India’s rise in artificial intelligence as a structural transformation, backed by an integrated ecosystem spanning computing, data, models, talent, governance, and real world deployment.India’s AI Rise and Its Global Significance Writing under the title “India's AI...

Infosys Chairman Calls AI Shift a “Root-and-Branch” Change at Investor Day Bengaluru, February 17: Nandan Nilekani, Co-founder and Chairman of Infosys, said on Tuesday that artificial intelligence will fundamentally alter how software is built and deployed, marking a structural shift in the technology industry.Speaking at Infosys’ Investor Day, Nilekani described the ongoing AI transition as a “root-and-branch” transformation that goes far beyond adding another layer of technology. He said companies must rethink customer journeys, business processes, and organizational structures to adapt effectively.According to him, writing code will no longer remain the primary goal for technology professionals. Instead, the focus will shift...