Business

New Delhi, February 24: Gold prices advanced in the national capital on Tuesday, climbing Rs 400 to Rs 1,63,200 per 10 grams, as sustained buying by dealers and a weaker rupee supported domestic rates, according to local market traders.The precious metal of 99.9 percent purity had closed at Rs 1,62,800 per 10 grams on Monday. The fresh uptick reflects firm demand from local jewelers and dealers, who continued to accumulate the yellow metal despite softness in global markets.Domestic Demand Counters Global Weakness Traders indicated that rising demand in the domestic market helped gold prices move higher even as international prices declined. The weakening rupee further added to the upward pressure, making gold more expensive in the...

India and Israel Launch First Round of FTA Negotiations in New Delhi New Delhi, February 24: India and Israel have formally begun the first round of negotiations for a proposed Free Trade Agreement, marking a renewed push to deepen commercial engagement and boost investment flows between the two countries.The four day talks, which conclude on February 26, follow the signing of the Terms of Reference in November last year, setting the framework for structured negotiations.FTA Talks Resume After Earlier Stalemate The fresh negotiations come after earlier attempts to finalize a similar agreement stalled. Eight rounds of discussions were previously held, with the last round taking place in October 2021. Both sides have now restarted...

IMF Backs Macroeconomic Stabilization Amid Social Strain New Delhi, February 24: Even as the International Monetary Fund has praised Pakistan for stabilizing its economy under its ongoing support program, new data shows that poverty and income inequality have sharply worsened, raising concerns about the social cost of recent reforms.According to a report by Dawn, while key macroeconomic indicators such as the fiscal balance and the current account have improved, millions of citizens are facing increasing hardship. The divergence highlights a widening gap between economic stabilization on paper and the lived reality of households across the country.Fiscal Discipline Improves but Structural Challenges Persist After a prolonged period...

Mumbai, February 24: Marriott International has delivered its strongest expansion year in South Asia in 2025, signing a record 102 hotel agreements and adding more than 12,000 rooms across the region. India accounted for 99 of these deals, underscoring its central role in the company’s regional growth strategy.The global hospitality major also reported double digit growth in Revenue Per Available Room, reinforcing South Asia’s growing importance within Marriott’s global portfolio.Double Digit RevPAR Growth Strengthens Performance RevPAR for the South Asia comparable portfolio rose 10 percent year over year, driven primarily by growth in Average Daily Rate. The company attributed the increase to sustained pricing power, premium...

Mumbai, February 24: The Indian economy is now defined by high, stable, and accelerating growth supported by predictable economic outcomes, according to Poonam Gupta, Deputy Governor of the Reserve Bank of India.Delivering the 14th Foundation Day Lecture at the Centre for Development Studies on February 20, Gupta said India’s strong macroeconomic stability, policy consistency, and diversified demand base are placing the country on a steadily improving growth path.India Outperforms Emerging Market Peers Gupta highlighted that India’s performance stands in contrast to many other emerging and developing economies that lack one or more of the enabling factors supporting sustained growth.She noted that over the past four and a half...

Board Puts Re-Appointment on Hold Until 2027 Term Nears End Mumbai, February 24: The board of Tata Sons has deferred a decision on the re-appointment of Natarajan Chandrasekaran for a third term as Chairman, according to sources. The development signals potential differences within the holding company of the diversified Tata Group.At a board meeting held in Mumbai on Tuesday, no resolution was passed on extending Chandrasekaran’s tenure beyond his current term, which concludes in February 2027. No official statement was issued after the meeting.Concerns Raised by Noel Tata Over Group Performance and Listing Plans Sources indicated that Noel Tata, Chairman of Tata Trusts, raised concerns regarding losses in certain group companies...

India GDP Growth Seen Near 8.1% in Q3 FY26 Under Revised Base Year 2022-23 New Delhi, February 24: India’s economy is projected to expand by close to 8.1 per cent in the September to December quarter of FY26, according to a report released on Tuesday under the revised GDP series with 2022-23 as the new base year.The growth estimate comes amid methodological changes and ahead of the release of the second advance estimates by the National Statistics Office on February 27.Q3 FY26 Growth Outlook Signals Resilience The country recorded an 8 per cent growth rate in the first half of the ongoing financial year ending March 2026. Earlier, the first advance estimate by the National Statistics Office had pegged real GDP growth at 7.4 per cent...

The initial public offering of Gaudium IVF and Women Health closed on Tuesday with an overall subscription of 7.27 times, reflecting robust investor participation across categories on the final day of bidding.The ₹165 crore IPO attracted bids for 10,63,50,489 shares against 1,46,20,340 shares on offer, as per NSE data.Strong Demand from Retail and Non Institutional Investors The Non Institutional Investors segment recorded the highest response, subscribing 14.05 times their allotted quota. Retail individual investors followed with a subscription of 7.60 times.The portion reserved for Qualified Institutional Buyers was subscribed 1.62 times.With this public issue, Gaudium IVF becomes the first company in the fertility care sector...

New Delhi, February 24: Alembic Pharmaceuticals on Tuesday announced that it has received final approval from the US Food and Drug Administration to market its generic version of Efinaconazole Topical Solution 10 percent in the United States.The approval marks a significant regulatory milestone for the company as it strengthens its presence in the US generics market.USFDA Grants Final Approval for ANDA Alembic Pharmaceuticals confirmed that the US health regulator has granted final approval to its abbreviated new drug application for Efinaconazole Topical Solution 10 percent.The approved product is therapeutically equivalent to Jublia Topical Solution 10 percent marketed by Bausch Health Americas Inc. The approval enables Alembic...

New Delhi, February 24: Zendesk on Tuesday announced the launch of a new innovation hub in Pune, marking a strategic expansion of its presence in India and strengthening its global product development operations.The newly established Zendesk Pune Innovation Hub is positioned as a core growth center within the company’s worldwide footprint. According to the company, the hub will scale in both size and strategic importance as part of its broader global operations.Pune Positioned as Global Growth Center The Pune facility forms a key pillar of Zendesk’s strategy to tap into emerging talent pools and enhance collaboration across international teams. By anchoring one of its global growth centers in India, the company aims to integrate...

PNGS Reva Diamond Jewellery IPO Subscribed 59% on Day 1; QIB Portion Nearly Fully Booked New Delhi, February 24: The initial public offering of PNGS Reva Diamond Jewellery was subscribed 59 per cent on the first day of bidding on Tuesday, reflecting steady investor participation across categories.PNGS Reva IPO Subscription Status on Day 1 The Rs 380 crore IPO received bids for 33,83,488 shares against 57,06,235 shares on offer, according to NSE data.The Qualified Institutional Buyers portion was subscribed 92 per cent, indicating strong interest from institutional investors. The Retail Individual Investors segment saw 37 per cent subscription, while the Non Institutional Investors category was subscribed 7 per cent on the opening...

New Delhi, February 24: The IT services sector is entering a transformative phase as artificial intelligence reshapes traditional business models, with brokerage firm Jefferies warning of deeper structural changes ahead.According to the latest Jefferies report, AI-driven disruption is set to shrink the conventional managed services business while increasing the share of advisory and implementation engagements. The brokerage cautioned that this transition could heighten revenue cyclicality and demand significant changes in talent strategy and operating models.AI Impact Not Over, Price Targets Cut by Up to 33% Jefferies said the AI impact is far from over and has reduced price targets by as much as 33 percent for certain companies...

AI Advancing Faster Than Public Realizes, Says Dario Amodei Dario Amodei, CEO of Anthropic, has cautioned that artificial intelligence is progressing toward human-level capabilities far more rapidly than most people recognize, describing the shift as an approaching “AI tsunami.”Speaking on a podcast with Nikhil Kamath, co-founder of Zerodha, Amodei said societies around the world remain underprepared for the economic and geopolitical transformation that advanced AI systems could trigger.He likened the current moment to a tsunami visible on the horizon, suggesting that while its arrival is apparent, many continue to dismiss its scale and consequences.“It’s as if this tsunami is coming at us. It’s so close, we can see it on the...

TRAI Issues Fresh Recommendations for Upcoming Spectrum Auction New Delhi, February 24: The Telecom Regulatory Authority of India on Tuesday released detailed recommendations for the upcoming auction of radio frequency spectrum identified for International Mobile Telecommunications IMT services.The recommendations follow stakeholder consultations and further regulatory analysis, outlining the framework for auctioning spectrum across multiple frequency bands.TRAI has recommended that the entire available spectrum in the 600 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz, 2500 MHz, 3300 MHz, and 26 GHz bands should be put up for auction in the forthcoming exercise.Reclaiming Spectrum Under Insolvency Process In a significant...

SriLankan Airlines Plans Ahmedabad Entry Within Three Months New Delhi, February 24: SriLankan Airlines is set to strengthen its footprint in India with plans to launch direct flights between Colombo and Ahmedabad within the next three months. The move is part of the carrier’s broader strategy to deepen its presence in its largest international market.Subject to regulatory approvals, the airline intends to operate four weekly services connecting Colombo and Ahmedabad. Once operational, Ahmedabad will become the tenth Indian destination on the airline’s network.Currently, SriLankan Airlines operates 89 weekly flights from Colombo to nine Indian cities. With the addition of Ahmedabad, the total number of weekly services to India will...

Clean Max Enviro Energy Solutions IPO Subscribed 45% on Day 2; QIB Portion Fully Booked New Delhi, February 24: The initial public offering of Clean Max Enviro Energy Solutions, a commercial and industrial renewable energy provider, was subscribed 45 per cent on the second day of bidding on Tuesday, reflecting mixed investor participation across categories.Clean Max IPO Subscription Status According to data available on the NSE, the IPO received bids for 97,59,106 shares against 2,18,23,329 shares on offer.The qualified institutional buyers category was subscribed 1.21 times, indicating strong institutional interest. The non-institutional investors segment was booked 41 per cent, while the retail individual investors portion saw a...

India’s corporate landscape features several long-established enterprises that have chosen to remain privately held despite achieving significant scale. From media and finance to pharmaceuticals and engineering, these companies continue to report strong revenues and profits while avoiding public equity dilution and retaining promoter control.Here is a closer look at some of India’s prominent unlisted businesses and their latest reported financial performance.Bennett, Coleman & Co.: India’s Oldest Private Media Company Founded in 1838, Mumbai-based Bennett, Coleman & Co. remains India’s oldest private company operating without an IPO. The media group runs newspapers, radio networks, and digital platforms across the country.For...

253 Km Pipeline Target Unlikely to Be Met by March Agartala, February 24: The target of laying a 253 kilometre-long gas pipeline in Tripura under the Indradhanush Gas Grid project is unlikely to be achieved by March this year, an official said on Tuesday, citing unavoidable challenges.The pipeline is part of the larger Indradhanush Gas Grid initiative aimed at strengthening gas infrastructure across the Northeast. Once completed, the project is expected to enable the supply of CNG and LPG to various parts of Tripura.170 Km Pipeline Completed Across Five Districts According to the official, 170 kilometres of the gas pipeline have been laid so far in districts including North Tripura, Dhalai, Unakoti, Khowai, and West Tripura.In the...

First Union Cabinet Meeting Held at New Prime Minister’s Office New Delhi, February 24: Prime Minister Narendra Modi on Tuesday said that the newly constructed Seva Teerth, the new Prime Minister’s Office, will serve as a center of national service and citizen empowerment rather than a symbol of authority.In a post on the social media platform X, the Prime Minister announced that the first meeting of the Union Cabinet was held at Seva Teerth on the auspicious occasion of Yugabda 5127, Vikram Samvat 2082, Phalguna Shukla Ashtami.He described the meeting as historic and said several unprecedented decisions were taken in the interest of the country.Seva Teerth Built on Swadeshi Thought and Modern Vision Prime Minister Modi said Seva...

BKT Launches On-Highway Tyre Portfolio for Two-Wheelers and Commercial Vehicles Balkrishna Industries Ltd on Tuesday announced its formal entry into India’s domestic consumer tyre market with the launch of its On-Highway tyre portfolio, marking a strategic expansion beyond its established Off-Highway business.As part of this move, the company has committed an investment of ₹3,500 crore, equivalent to USD 400 million, to support manufacturing capacity expansion, advanced research and development capabilities, vertical integration, and the strengthening of its nationwide distribution network.The newly launched On-Highway portfolio includes purpose-built tyres for two-wheelers such as scooters and motorcycles, as well as medium and...