Swiggy, a major food and grocery delivery company, is selling its 12% stake in ride-hailing platform Rapido to existing investors Prosus and Westbridge Capital for a total of Rs 2,399.49 crore. This will result in an over 2.5X return for Swiggy, which had invested Rs 950 crore in Rapido in 2022. The deal is subject to approvals from the CCI and Swiggy's shareholders. The company
Government will consider industry demands to export wheat products while prioritizing food security. Multiple ministries involved in export decisions, emphasizing the need to consider next year's wheat production. India banned exports in 2022 due to domestic food security concerns, but record production expected in 2024-25.
Atlanta Electricals Ltd's IPO was a huge success, with 70.63 times subscription and bids for 46,17,87,742 shares against 65,38,439 shares on offer. The QIB portion received a massive 194.92 times subscription, while non-institutional investors and retail investors also showed strong interest. The company raised Rs 205 crore from anchor investors and plans to use the proceeds for debt repayment.
Solarworld Energy Solutions Ltd's IPO saw strong demand on its second day, with bids for 4 times the shares on offer. Retail investors showed the most interest, followed by non-institutional and qualified institutional buyers. The company has raised Rs 220.5 crore from anchor investors and plans to raise a total of Rs 490 crore for project funding and corporate purposes. The IPO ends on Thursday.
Jaro Education's IPO received 1.95 times subscription on the second day, with bids for 72,54,336 shares against 37,23,404 shares on offer. The Non-Institutional Investors component was subscribed 3.49 times, while the Retail Individual Investors portion received 2.01 times subscription. The company aims to raise Rs 450 crore, with Rs 135 crore already raised from anchor investors.
GAIL India, a state-run company, plans to invest ₹5,363.88 crore to double the capacity of its LPG pipeline to 6.5 million tonnes per year by July 2028. The company also announced delays in completing its Mumbai-Nagpur-Jharsuguda gas pipeline project, with a revised completion date of December 31.
The first three days of GST 2.0 implementation saw a significant increase in credit card spending, with a fivefold rise in daily average spending. This surge was driven by GST relief, positive market sentiment, and festive sales programs. SBI Card, RBL Bank, and BOBCARDS all reported a significant increase, with merchants offering discounts and offers.
The IPO of Seshaasai Technologies, a payments solutions provider, was subscribed 3.09 times on the second day of offering. The three-day IPO received bids for 4,25,23,390 shares against 1,37,67,095 shares on offer. The company raised over Rs 243 crore from anchor investors and the total issue size is Rs 813 crore.
Anand Rathi Share and Stock Brokers Ltd's IPO sees strong demand from retail and HNI investors, with a 1.11 times subscription on the second day. The company aims to raise Rs 745 crore for working capital and general purposes. Their brand 'Anand Rathi' offers various financial services to a diverse client base.
Excessive rains in western and eastern India have caused extensive damage to standing crops, potentially lowering the record crop estimate for kharif 2025-26. Maharashtra has been the most affected, with harvesting and rabi sowing delayed. Other states, such as Punjab, Rajasthan, and Karnataka, have also suffered crop losses.
BMW Ventures Ltd's initial public offering (IPO) saw an 11% subscription on the first day of its share sale, with bids for 25,38,612 shares against 2,34,00,000 shares on offer. The QIB portion received 1.08 times subscription, while the retail and non-institutional investors' categories were subscribed 13% and 2% respectively.
NCLT asks Vedanta to respond to SEBI and MoPNG by October 8 regarding regulatory lapses and misrepresentation of hydrocarbon assets in demerger scheme. SEBI found lapses in the scheme after issuing no-objection certificates from stock exchanges and has issued a written warning. Vedanta's demerger process is nearing completion pending NCLT approval.
The Goods and Services Appellate Tribunal (GSTAT) will start hearing cases in December to reduce litigation and improve cash flow for small businesses and exporters. With 116 members, 32 benches, and 45 locations, it is the largest Tribunal in India. The GST Council has approved a restructuring of the indirect tax system, reducing the number of appeals.
Samsung India is banking on AI-based home solutions to boost their home appliances business. They plan to have 70% of sales from AI-powered products by 2025 and the recent GST cuts on white goods are expected to drive consumption, especially in air conditioners. Samsung also launched an "AI Home" where appliances, devices, and services can connect through the SmartThings app.
The Cabinet has given the green light to infrastructure projects worth Rs 6,014 crore for Bihar, including a railway line doubling and highway construction. These projects will improve connectivity for freight and tourism, benefiting villages and popular destinations.
SEBI's high-level committee, headed by Pratyush Sinha and Injeti Srinivas, is proposing changes to ensure transparency in the organization through board oversight. Recommendations include public disclosure of board members' assets and stricter conflict-of-interest norms. The report is expected in October and SEBI chairman Pandey stresses the importance of balancing transparency and privacy.
The recent increase in US tariffs has significantly affected engineering goods exports from India, with a slowdown in growth from 12.6% to 7.2% in August. Despite an overall growth of 11.5% from April-August, the imposition of 50% tariffs on these exports is a cause for concern. Additionally, exports to the UAE only saw a 5% growth during this period.
Lenders are raising loan rates to protect margins and balance credit growth with profitability and risk management. While deposit rates are decreasing, they are adjusting at a slower pace. This cautious approach aims to maintain stable funding sources and use higher rates as a risk management strategy. This trend is expected to continue for at least six months.
Metro Railway Kolkata has announced an extensive service plan for Durga Puja 2025, with special night-long operations on the Blue and Green lines during Saptami, Ashtami, and Navami. Additional services will also be available on the Yellow and Purple lines. The Metro authority has encouraged the use of Smart Cards and mobile tickets to manage the rush.
Virat Kohli's participation in upcoming ODI matches is uncertain as the Men's Senior Selection Committee and its head, Ajit Agarkar, have not received a response from the player. Kohli retired from Tests and T20Is earlier this year. The BCCI's plan for Kohli and Rohit Sharma to play in a 50-over match for India A did not materialize.
PhonePe, owned by Walmart, has filed its DRHP with SEBI to go public and could raise Rs 12,000 crore through OFS. Other startups like Meesho, Pine Labs, and Urban Company have also filed for IPOs. PhonePe leads the UPI market with a 46% share and reported a 40% rise in revenue. It also received a new RBI licence for payment expansion.
Durga Puja is a grand Hindu festival celebrated in India, symbolizing the triumph of good over evil. This year, it will be celebrated from September 27th to October 2nd. The festival marks the beginning of fall and is a time for togetherness and joy. Kolkata, Guwahati, Delhi, Mumbai, and Cuttack/Bhubaneswar are top destinations for experiencing the vibrant celebrations.
EPack Prefab Technologies Ltd's initial public offering (IPO) was subscribed 30% on the first day of bidding, with bids received for 52,75,564 shares against 1,76,70,103 shares on offer. The IPO, which has a price band of Rs 194 to Rs 204 per share, will conclude on September 26. The company plans to use the proceeds from the IPO for setting up a new manufacturing facility
India and Bangladesh will face off in the Asia Cup 2025 Super 4 match at the Dubai Cricket Stadium tonight. India secured a six-wicket win against Pakistan in their first Super 4 match, while Bangladesh defeated Sri Lanka. Fans can watch the match on Sony Sports Network channels or through the SonyLIV app. Subscriptions are available through telecom providers like Airtel, Jio, and Vi.
SEBI may issue a settlement order to NSE by early October, paving the way for the regulator's No Objection Certificate for NSE's IPO. The settlement amount of Rs 1400 crore, split between colocation and dark fibre cases, would require NSE to pay an additional Rs 600 crore. NSE's IPO prospects and legacy cases are also discussed, including a recent Rs 40 crore settlement for compliance failures.
Jain Resource Recycling Ltd's initial public offer received 73% subscription on the first day of bidding, with bids for 2,27,44,384 shares against 3,12,49,999 shares on offer. The IPO, valued at over Rs 8,000 crore, has a fresh issue of equity shares worth Rs 500 crore and an offer for sale worth Rs 750 crore. The company plans to use the proceeds for debt repayment and general corporate purposes
Indian delegation in US for trade talks, discussing non-trade issues, including tariffs on Indian exports and energy trade with Russia. Talks to cover Bilateral Trade Agreement and extra tariffs on Indian exports. US President Trump voices concerns over India-Russia energy trade at UNGA. Talks intensify despite setbacks, with hope to resolve issues and increase certainty for India's exports to US.
Sebi raises minimum net worth for custodians to Rs 75 crore, giving existing ones 3 years to comply. Additional responsibilities include maintaining governance, risk management policies, and cooperating with Sebi to protect clients' interests. Changes aim to improve asset protection, compliance, and risk management.
A dangerous increase in drug-resistant bacteria in the US has been reported, with a 70% rise in infections resistant to powerful antibiotics in just four years. This could lead to 40 million deaths by 2050, according to the CDC. The pandemic has worsened the situation due to increased antibiotic use. Symptoms of infection include fever, nausea, and unresponsive chronic infections.
Nomura maintains a 'Buy' rating and target price of Rs 2,846 for Hyundai Motors India, expecting a 4.55% upside. The company is set to benefit from a strong model cycle and a rising SUV mix, with a 50% jump in bookings after the GST reduction. Hyundai Motor Company aims for 55 lakh units by 2030, with India contributing 15%. 26 new models are planned to be launched by Hyundai India by 2030.
Pawan Kalyan's highly anticipated film 'They Call Him OG' has already broken records with a staggering Rs 75 crore in advance bookings. The action-thriller, featuring Emraan Hashmi, is set to have a massive Rs 100 crore opening day. Kalyan's highest-grossing films include Bheemla Nayak, Vakeel Sahab, Attarintiki Daredi, and Gabbar Singh. The film follows Kalyan's
A controversial bronze statue titled 'Best Friends Forever' has sparked a row on the National Mall in Washington DC, depicting President Trump and Jeffrey Epstein holding hands. Trump has denied any involvement with the statue and has even filed a lawsuit against the publication that reported a note he allegedly wrote to Epstein. This is not the first satirical statue targeting the US President.
Shrikant Badve, founder-director of Belrise Industries, has become a billionaire with a valuation of Rs 9,550 crore. He has a majority stake in the company and has been recognized for his entrepreneurial journey. Badve is an alumnus of IIM Ahmedabad and serves on the Board of Governors at IIM Jammu. He has also collaborated with icons like Sachin Tendulkar and Madhuri Dixit to promote Maharashtra.
Indian equity benchmarks closed lower for the fourth consecutive session on Wednesday. The Nifty 50 and Sensex both ended the day in the red, with the Nifty closing 0.45% lower and the Sensex falling 0.47%. The Nifty Bank also saw a decline of 0.70%. Small and midcap stocks saw deep cuts, with the BSE Midcap and Smallcap indices declining by 0.85% and 0.50%, respectively.
Nuvama has identified three stocks with a 'Buy' rating, including Uno Minda, Gujarat Fluorochemicals, and CESC. These stocks have a potential upside of up to 39%, 17%, and 13% respectively. Uno Minda is expected to see growth in revenue and EBITDA, while Gujarat Fluorochemicals stands to benefit from anti-dumping duty on imports. CESC's RE plans and potential UP discom win could lead to growth.
Indian drone maker ideaForge Technology and First Breach Inc. have formed a joint venture called First Forge Technology Inc. to expand operations in America. The new entity will focus on manufacturing and distributing specific ideaForge UAVs, with both companies holding a 50% stake and equal decision-making rights. The formation is subject to due diligence and regulatory approvals in the US.
FDA approves tablet form of Leucovorin, a folate (Vitamin B9) supplement, for treating speech-related difficulties in children with autism. Leucovorin, commonly used in cancer treatment, is being explored as a potential treatment for autism symptoms. It aids in folate's passage to the brain, improving verbal communication and reducing irritability and repetitive behaviour.
Achieving the dream of owning a Louis Vuitton bag may seem impossible for an average employee, but with proper planning and saving techniques, it can become a reality. Setting realistic goals, limiting online shopping, and wise investing can make this luxury purchase achievable.
Dabur, a leading FMCG company, has received a tax demand of Rs 271.6 crore from the Judicial Assistant Commissioner in Chandigarh, along with an equal penalty and interest. The company has appealed against the demand, but the appellate authority has rejected it. Dabur plans to seek legal opinion and take further steps, but if the appeals are rejected
Pokemon fans were angry when the US Department of Homeland Security used the popular anime series to promote their controversial ICE arrests. The DHS shared a video with clips from the show and real-life arrests, causing fans to call for legal action from Nintendo. However, the company's ex-CLO believes they won't take action due to their elusive brand and many executives being on green cards.
Jimmy Kimmel returns to late-night TV with a standing ovation after controversial remarks about the MAGA movement's reaction to Charlie Kirk's assassination. His suspension sparked a national conversation on freedom of speech and government involvement in media. Kimmel thanks fans and defends free speech, while also poking fun at President Trump.
Adani Group Chairman Gautam Adani reassures shareholders after SEBI clears the company of allegations made by Hindenburg Research. He vows to enhance governance, innovation, sustainability, and infrastructure investments to support India's growth. Adani criticizes the Hindenburg report and urges the moment to reaffirm the company's values of resilience and integrity.
US President Donald Trump and UN Secretary-General Antonio Guterres met during the UNGA in New York, highlighting the UN's role in promoting global peace. Guterres praised the US for its support and Trump emphasized the potential of the UN to drive peace. The leaders also discussed the urgent need to address global suffering.
The Trump administration’s hefty new H-1B visa fees are already triggering high-level discussions in Silicon Valley and beyond about moving jobs overseas, ironically, the opposite of what the policy intended.
A fire broke out at a shop in Mumbai due to a gas cylinder blast, leaving six women and a man with serious burn injuries. Three of them suffered nearly 90% burns and have been shifted to Kasturba Hospital for further treatment. The fire was confined to the shop's electric wiring, installations, LPG cylinder, and gas stove, and was extinguished in less than 30 minutes by four fire engines.
US President Donald Trump publicly linked Tylenol (Paracetamol or acetaminophen) to autism in children and urged pregnant women not to take it, sparking controversy and condemnation from researchers. However, studies have shown no causal link between the use of paracetamol during pregnancy and autism. In fact, the EMA has approved its use during pregnancy and debunked any link.
Ultraviolette has launched the X47 Crossover, an electric adventure tourer priced at Rs 2.49 lakh. Pre-bookings have started at Rs 999 and deliveries will start next month. The bike boasts industry-first features like an integrated radar and dual cameras, advanced connectivity, electronic riding aids, and a powerful powertrain with a good range.
Mike Bezos, father of Amazon founder Jeff Bezos, is expanding his family office, Aurora Borealis, to manage his $40 billion fortune. He hired Valeria Alberola, previously CEO of Walmart heir's family office, to oversee investments and philanthropy. The trend of increasing family offices, raises concerns about wealth disparity and the ultra-rich's ever growing influence over the financial world.
A Department of Homeland Security video posted online this week used a short clip of comedian Theo Von, aka Theodor Capitani von Kurnatowski III, to set a mocking tone for a montage showing ICE raids and mass deportations.
India's Commerce and Industry Minister Piyush Goyal stated that the country aims to increase trade with the US in energy products and seeks US involvement in its energy security goals. Goyal is leading a delegation for trade meetings in New York and hopes to conclude a bilateral trade agreement. He also emphasized on the India-US nuclear partnership