Business

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...

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...