Business

Motilal Oswal Alternates (MO Alts), the alternative investment arm of Motilal Oswal Financial Services, today announced the first close of its maiden private credit fund, India Credit Excellence Fund - I ('the Fund') , at INR 1,700 crore. This includes an INR 200 crore commitment from the Sponsor and its affiliates. The Fund, launched in January 2026, targets a total corpus of INR 3,000 crore including green shoe.About the Fund and MO Alts The Fund marks a significant chapter in MO Alts' 20-year journey as India's premier alternatives platform and a meaningful step in its evolution towards a multi-asset alternatives firm. MO Alts has built a distinctive track record across private equity and real estate, having raised over INR 23,000...

SEBI Ends Children and Retirement Fund Segment Mumbai, February 26: The Securities and Exchange Board of India on Thursday announced the discontinuation of the "solution-oriented" mutual fund category, covering children and retirement funds, as part of a broader overhaul of mutual fund classification norms aimed at improving clarity and transparency for investors.With immediate effect from the date of the circular, existing schemes under the solution-oriented segment will stop accepting fresh subscriptions. These schemes will be merged with other schemes that have similar asset allocation and risk profiles, subject to prior approval from SEBI.As of January 31, 2026, the segment comprised 15 children’s fund schemes and 29 retirement...

Bilateral Trade Agreement Moves Closer to First Phase Completion New Delhi, February 26: Commerce and Industry Minister Piyush Goyal on Thursday held a key meeting with US Secretary of Commerce Howard Lutnick and US Ambassador to India Sergio Gor to discuss ways to deepen trade and economic ties between India and the United States.In a social media post, Goyal said the discussions were fruitful and focused on expanding the trade and economic partnership between the two countries.The meeting assumes significance as India and the United States are currently working on finalizing the legal text for the first phase of a proposed bilateral trade agreement. The pact is expected to strengthen market access, streamline trade processes, and...

Board Clears Private Placement of Debentures New Delhi, February 26: The Board of Directors of Vedanta Ltd has approved a proposal to raise up to ₹3,000 crore through debentures on a private placement basis, reinforcing its ongoing capital management strategy.The fundraising is aimed at strengthening the company’s capital structure while optimizing borrowing costs, as the conglomerate continues its efforts to streamline liabilities and improve financial efficiency.Details of the Non Convertible Debenture Issue Vedanta will issue up to three lakh unsecured, rated, listed, and redeemable non convertible debentures. Each debenture will carry a face value of ₹1,00,000, aggregating to a total issue size of ₹3,000 crore.The non...

Tribunal Upholds NCLT Order in Minority Shareholders' Plea In a setback for Jindal Poly Films Ltd, the National Company Law Appellate Tribunal has dismissed the company’s appeal against an earlier order permitting a class action lawsuit to move forward.The ruling, delivered on February 26, upholds the decision of the National Company Law Tribunal to admit the plea filed by minority shareholders and also includes a formal notice issued to the company.The development marks a significant legal escalation in a dispute involving alleged financial transactions linked to promoter-connected entities.Allegations of ₹2,000 Crore Loss The class action lawsuit, initiated by minority shareholders, alleges that funds were siphoned off to...

HDFC Bank Reworks Vendor Strategy Amid AI Push HDFC Bank is changing how it works with technology vendors as it accelerates the development of artificial intelligence capabilities internally, a move that could reshape the engagement models of Indian IT services firms.Ramesh Lakshminarayanan, Group Head IT and Chief Information Officer at the bank, said the institution is moving away from manpower led outsourcing toward outcome based partnerships. He indicated that traditional billing structures built around team size are losing relevance as enterprises increasingly demand measurable business impact.According to him, the conversation with vendors is now centered on value added services instead of the number of deployed resources. The...

EY Projects 6.8–7.2% Real GDP Growth for FY27 India’s real GDP is projected to grow between 6.8 per cent and 7.2 per cent in FY27, according to the latest EY Economy Watch report released on Thursday.EY India Chief Policy Advisor D K Srivastava said that India’s medium-term growth prospects have strengthened, supported by extensive bilateral trade agreements with major economies and economic groupings. The report estimates that real GDP growth will remain in the 6.8 to 7.2 per cent range in FY27, reflecting resilience in economic activity.The outlook aligns with India’s broader growth trajectory as the country works toward long-term development goals.Higher Tax-GDP Ratio Key to Viksit Bharat 2047 Vision The report noted that...

New Delhi, February 26: The Securities and Exchange Board of India has unveiled a comprehensive overhaul of the mutual fund classification framework, introducing a new category of Life Cycle Funds, discontinuing Solution Oriented Schemes, and tightening disclosure as well as portfolio overlap norms to enhance uniformity and investor protection.The regulator said the changes are aimed at ensuring schemes remain true to their stated objectives and curbing exaggerated return claims in scheme names. The move aligns the regulatory architecture with the evolving mutual fund landscape and emerging opportunities across asset classes.Five Broad Scheme Categories Introduced Under the revised structure, mutual fund schemes have been classified...

PhonePe Reports 56% Revenue CAGR in FY23 to FY25, Losses Narrow Sharply Ahead of IPO Revenue Growth Signals Strong Monetization Shift Digital payments major PhonePe has reported robust revenue growth and a sharp reduction in losses over the past three fiscal years, reflecting a decisive shift towards sustainable monetization and operational efficiency, according to its draft red herring prospectus.Revenue from operations climbed to Rs 7,114.85 crore in FY25 from Rs 2,914.28 crore in FY23, translating into a compound annual growth rate of 56.25 per cent. The company stated that it is successfully transitioning towards long term monetization while strengthening its operating model.A key highlight of this transition is the...

India could retain an estimated $113 billion in foreign currency by 2040 if it strengthens the domestic presence of foreign universities, according to a joint report released by Deloitte India and Knight Frank India on Thursday.The report states that enabling Foreign Higher Education Institutions to establish campuses in India could significantly curb the remittances currently flowing overseas for education. To support this expansion, the country may require nearly 19 million square feet of vertical campus space.National Education Policy 2020 Driving Structural Shift The transformation is being accelerated by the National Education Policy 2020, which aims to reposition India from a student exporting nation to a global knowledge hub...

NCLAT Dismisses Jindal Poly Films Appeal, Class Action Suit by Minority Shareholders to Proceed In a setback for Jindal Poly Films, the National Company Law Appellate Tribunal has dismissed the company’s appeal against an earlier order permitting a class action lawsuit to move forward. The decision, delivered on February 26, upholds the National Company Law Tribunal’s admission of the case and formal notice issued to the company.Minority Shareholders Allege ₹2,000 Crore Loss The class action lawsuit has been initiated by minority shareholders, who allege diversion of funds to entities linked to the company’s promoters. According to the plea, these transactions resulted in an estimated loss of ₹2,000 crore to Jindal Poly Films and were...

ByteDance Valuation Jumps 66% From Last Year’s Buyback Investment firm General Atlantic is selling a stake in ByteDance in a deal that values the Chinese social media giant at $550 billion, according to people familiar with the matter. The transaction marks a dramatic increase in the valuation of the privately held company.The proposed divestment represents a 66% rise from last year’s share buyback, which valued ByteDance at more than $330 billion. It also reflects a 15% increase from a secondary market transaction in November that valued the company at $480 billion.If completed, this would be the first stake sale since the Trump administration cleared the sale of ByteDance’s TikTok US interests in January.General Atlantic Moves...

Anil Ambani Appears Before ED for Second Round of Questioning in Bank Fraud-Linked Money Laundering Case ED Records Statement Under PMLA in ₹40,000 Crore RCOM Probe New Delhi, February 26: Anil Ambani, Chairman of the Reliance Group, appeared before the Enforcement Directorate on Thursday for a second round of questioning in connection with an alleged bank fraud-linked money laundering case.The 66-year-old businessman reached the federal probe agency’s office in central Delhi at around 10:30 am. Officials confirmed that his statement has been recorded under the provisions of the Prevention of Money Laundering Act. Ambani was earlier questioned by the agency in August 2025 as part of the ongoing investigation.The probe relates to an...

Government Pushes for Fair Revenue Distribution in Digital Ecosystem Union Information and Broadcasting Minister Ashwini Vaishnaw on Thursday said social media platforms must ensure fair revenue sharing with individuals and organizations that create content, including journalists, traditional media houses, influencers, professors, researchers, and creators in remote regions.Speaking on the growing digital content economy, Vaishnaw emphasized that those generating content on digital platforms deserve a rightful share of the revenue earned from it. He noted that news professionals, academics disseminating research, influencers, and grassroots creators all contribute significantly to the value ecosystem of social media platforms...

BofA Flags Near Term Headwinds After Haryana Panel Removal Multinational brokerage Bank of America Securities has downgraded IDFC First Bank Ltd. to Neutral from Buy and reduced its 12 month target price to Rs 75 from Rs 95, citing near term headwinds following the bank’s removal from the Haryana government’s panel after a fraud incident.The brokerage has lowered its estimated earnings per share by 13 to 14 per cent, prompting the rating downgrade. It also trimmed loan growth estimates for FY27 and FY28 by 1 to 2 per cent and reduced deposit growth forecasts by up to 3 per cent.Rs 590 Crore Fraud Triggers Deposit Outflows The bank reported a fraud of Rs 590 crore in the accounts of the Haryana government involving certain employees...

Mumbai, February 26: Foreign institutional investors recorded their strongest monthly inflow in 17 months in February, pumping in nearly $2.44 billion into Indian equities, according to exchange data released on Thursday.The latest inflow marks the highest monthly net purchase since September 2024 and signals renewed foreign participation in domestic markets after an extended phase of selling pressure.Secondary and Primary Market Participation Out of the total inflows, FIIs invested approximately $2.14 billion in secondary markets and $299 million in primary markets during the month.While buying activity in primary markets has remained steady since October 2023, secondary markets had witnessed sustained selling between January...

ED Records Statement Under PMLA in Ongoing Money Laundering Probe New Delhi, February 26: Reliance Group Chairman Anil Ambani appeared before the Enforcement Directorate in the national capital on Thursday for a second round of questioning in connection with an alleged money laundering case linked to bank fraud.The 66-year-old businessman reached the federal agency’s office in central Delhi at around 10:30 am. Officials said his statement will be recorded under the provisions of the Prevention of Money Laundering Act.Ambani was earlier questioned by the Enforcement Directorate in August 2025 as part of the same investigation.Probe Linked to Alleged ₹40,000 Crore Fraud by Reliance Communications The investigation relates to an...

Mumbai, February 26, 2026: Infinity Infoway Limited (BSE: 544567) has secured a government contract valued at approximately ₹10.97 crore from the Knowledge Consortium of Gujarat, under the Education Department, Government of Gujarat, for delivering AI-based data analytics and business intelligence services. The agreement, dated February 25, 2026, involves the design, development, implementation, testing, operations, and maintenance of AI-based Data Analytics Services (Version 2). The project will be executed at the buyer’s premises and spans a tenure of five years. Contract OverviewParticularsDetailsAwarding AuthorityKnowledge Consortium of Gujarat, Education Department, Government of GujaratVendorInfinity Infoway Limited...

Sedemac Mechatronics IPO to Open on March 4; Price Band Set at Rs 1,287–1,352 Per Share Sedemac Mechatronics will launch its initial public offering on March 4, aiming to raise Rs 1,087 crore through a public issue structured entirely as an Offer For Sale. The price band for the IPO has been fixed at Rs 1,287 to Rs 1,352 per equity share, valuing the company at nearly Rs 6,000 crore at the upper end of the band.The maiden public offering will close on March 6, while bidding for anchor investors is scheduled for March 2. The company is expected to list on the stock exchanges on March 11.IPO Structure and Share Sale Details The IPO comprises an Offer For Sale of up to 80,43,300 equity shares by promoters Manish Sharma and Ashwini Amit...

Sensex, Nifty Rise in Early Trade on IT Buying and Strong FII Inflows Mumbai, February 26: The benchmark equity indices opened higher on Thursday, supported by buying in information technology stocks and sustained foreign fund inflows.The 30 share BSE Sensex climbed 303 points in early trade to 82,579.16, extending gains from the previous session. The 50 share NSE Nifty advanced 85.1 points to 25,567.60 during the initial trading hours.IT Stocks Lead Gains Among the top performers in the Sensex pack were Tech Mahindra, Infosys, HCL Tech and Tata Consultancy Services, reflecting strong interest in IT counters. Maruti also featured among the early gainers.On the other hand, InterGlobe Aviation, UltraTech Cement, Axis Bank and ICICI...