Business News
No jargons, no mumbo-jumbo. Read the unadulterated Business news here.
BSE CEO Sundararaman Ramamurthy: tech, rules have made markets safer
BSE CEO Sundararaman Ramamurthy emphasizes trust, technology, and inclusivity while advocating for youth energy and women's stability in India's markets.
Rupee gains 65 paise to 95.20 after oil prices fall
The rupee surged 65 paise to 95.20 against the US dollar, buoyed by falling crude oil prices and optimism over a potential US-Iran peace deal.
Genxai Analytics shares debut 20% below IPO amid 17x bids
Genxai Analytics shares debuted at ₹92.80 on NSE SME, marking a 20% drop from the IPO price of ₹116, despite the IPO being subscribed 16.99 times overall.
Flair Writing targets mid-teen growth, 18% margins, raises prices 5%
Flair Writing Industries targets mid-teen revenue growth in FY27 while maintaining 18% operating margins, despite rising raw material costs and market competition.
Equal AI raises $30 million to upgrade India call screening app
Equal AI, an Indian startup, raised $30M in Series B funding to expand its AI-powered call screening app, which helps users manage calls and identify caller intent efficiently.
Sensex jumps 873.88 points and Nifty rises as oil falls
The Sensex soared over 800 points as easing US-Iran tensions led to a sharp drop in crude oil prices, boosting investor confidence and improving market sentiment.
Why global investors are ignoring India in favor of AI
Global AI fund inflows are surging, with technology and telecom sectors benefiting, but India's investment case weakens as it lags in driving AI advancements.
Blue Origin New Glenn explodes in Cape Canaveral ground test
Jeff Bezos described the New Glenn rocket explosion during a ground test as a tough moment for Blue Origin but remains optimistic about resuming flights by late 2026.
South Korea's Kospi index surges 8% on US-Iran peace hopes
South Korea's benchmark Kospi Index has witnessed a massive surge of 8% in early trading today.
Indian markets surge as West Asia peace hopes lift stocks
Indian stock markets surged with Nifty rising 272 points and Sensex over 950 points, while the rupee gained 0.5%, driven by optimism around a potential US-Iran peace accord.
Gold, silver up on India MCX amid US-Iran peace hopes
Gold prices on MCX surged above ₹1.5 lakh per 10 grams, while silver rates rose over 1%, driven by optimism surrounding a potential US-Iran peace agreement.
Gold, silver prices jump up to 4%
Gold and silver prices surged on Friday, driven by persistent inflation and ongoing global tensions.
Rupee opens 39 paise higher at 95.37 against US dollar
The Indian rupee strengthened by 39 paise to 95.37 per dollar on June 12, driven by falling global crude oil prices and improved market sentiment.
SpaceX raises record $75B in world's biggest IPO
SpaceX, Elon Musk's space and AI conglomerate, has officially priced its shares at $135 each.
Indian rupee opens at 95.41 after Trump remarks on Iran
The Indian rupee appreciated 44 paise to 95.41 against the US dollar, driven by falling crude prices after US President Trump hinted at an imminent peace deal with Iran.
Indian rupee rises 37 paise to 95.38 per US dollar
The Indian rupee opened 37 paise higher at 95.38 per dollar after U.S. President Donald Trump hinted at a potential deal with Iran, easing crude price pressures.
India aims for $30 trillion economy by 2047, Piyush Goyal
Union Minister Piyush Goyal emphasized that expanding global partnerships is crucial for India to achieve its $30 trillion economy goal by 2047.
SBI Mutual Fund buys 3.8% in Vintage Coffee and Beverages
SBI Funds Management acquired a 3.8% stake in Vintage Coffee and Beverages Ltd. through block deals worth ₹86 crore, signaling interest in the coffee exporter.
Microsoft CEO Satya Nadella: AI could boost wages, share wealth
Satya Nadella acknowledged growing AI backlash but emphasized its potential to boost wages and create shared prosperity during a live interview in San Francisco.
Gold and silver fall on US inflation, Fed rate worries
Gold prices are heading for a 2.8% weekly drop as persistent inflation pressures and rising crude oil prices fuel expectations of further US Federal Reserve interest rate hikes.
Bangladesh unveils 9.38 trillion taka budget aiming to boost GDP
Bangladesh has announced a $77 billion budget for FY27, aiming for 6.5% growth and reduced inflation despite a Moody’s downgrade and ongoing economic pressures.
Rene Mayrhofer leaves Google over US DoD AI partnership
René Mayrhofer, a senior Google director, has resigned, citing the company's collaboration with the US Department of Defense and abandonment of environmental goals for AI.
Gold and silver surge amid inflation and global tensions
Gold rebounded 2% to $4,204.40 per ounce, while silver surged 4.3% to $66.77, driven by inflationary pressures, interest rate expectations, and geopolitical uncertainties.
NVIDIA names Bruce Andrews affairs chief amid US export curbs
Nvidia has appointed Bruce Andrews as Chief External Affairs Officer to lead its government affairs in Washington, D.C., amid growing scrutiny over its ties to China.
INVasset's Anirudh Garg says AI trading slowing, India IT impacted
Anirudh Garg, Partner at INVasset PMS, highlights early signs of fatigue in the global AI trade and warns of structural challenges facing India's traditional IT services sector.
Leveraged AI ETFs dominate SK Hynix trading in South Korea
Leveraged ETFs tied to SK Hynix now dominate trading volumes, accounting for up to 70%, amplifying stock volatility through rebalancing and heightened derivatives activity.
Kospi jumps 8% on US Iran peace buzz, trades paused
South Korea's Kospi Index soared 8% as hopes for a US-Iran agreement boosted risk appetite, with chipmakers Samsung and SK Hynix leading gains amid AI-driven demand.
Japan Nikkei jumps 4% after President Trump cancels Iran strike
Japan's Nikkei surged over 4% as U.S. President Trump canceled strikes on Iran, boosting investor optimism. Technology shares, led by chipmakers, drove the rally.
Appeals court keeps President Trump's 10% tariff for 3 importers
A U.S. appeals court upheld the 10% global tariff for three importers, overriding a lower court's decision. The tariffs, imposed under Section 122, may expire in July.
EY opens EY.ai center in Bengaluru during $1.4B AI push
EY CEO Janet Truncale highlights India’s pivotal role in the firm’s global AI strategy, driven by its tech-savvy workforce and the launch of the EY.ai Centre in Bengaluru.
Hindustan Unilever and rivals hike FMCG prices 4% to 11%
FMCG companies, including HUL and Colgate-Palmolive, are raising prices by 4-11% due to higher crude prices, freight costs, and commodity inflation triggered by global conflicts.
Indian banks rush to meet RBI June 30 AI deadline
Indian banks are collaborating with top consultancy firms like EY and BCG to address AI-driven cyber threats and meet RBI's cybersecurity review deadline by June-end.
US appeals court allows Trump administration 10% global tariff
A federal appeals court upheld the Trump administration's 10% global tariff, citing likely legal success, but the case may ultimately be decided by the Supreme Court.
SpaceX plans $75B IPO by selling 555.6 million shares at $135
Retail investors have placed over $70 billion in orders for SpaceX’s record-breaking $75 billion IPO, with at least 20% of shares expected to be allocated to them.
Tata Sons board meets June 12 to finalize accounts, dividend
The Tata Sons board convenes today to approve FY25-26 accounts and dividends, while key governance issues like Chairman Chandrasekaran’s tenure extension remain off the agenda.
US Securities and Exchange Commission seeks to drop trade-through rule
The SEC has proposed rescinding the trade-through rule, which ensures investors receive the best prices, citing market complexity and costs as key concerns driving the decision.
States urge Nasdaq and FTSE Russell to rethink SpaceX entry
Officials from four states urged Nasdaq and FTSE Russell to pause rule changes favoring SpaceX, citing risks to investors and passive funds due to its $75 billion valuation.
US becomes India's top LNG and LPG supplier
The United States has overtaken Gulf countries to become India's top supplier of liquefied natural gas (LNG) and liquefied petroleum gas (LPG) in May.
India, Nepal launch UPI-based cross-border remittance system
India and Nepal have launched a new cross-border remittance system, the Unified Payments Interface (UPI)-National Payments Interface (NPI).
Gold prices at 6-month low: Good time to buy?
Gold prices have plunged to a six-month low as high oil prices fuel inflation concerns and strengthen expectations of prolonged high interest rates in the US.
Airtel, Vi launch services on Mumbai Metro after months-long dispute
Telecom giants Bharti Airtel and Vodafone Idea (Vi) have launched their mobile network services on the underground sections of Mumbai Metro's Aqua Line.
Wipro's buyback offers 37% premium, but there's a catch
Wipro has launched its ₹15,000 crore share buyback program today.
Reliance, Adani join India's push to cut China rare-earth dependence
Reliance Industries, Vedanta and Adani Group are among 10 companies interested in setting up rare-earth processing plants in Andhra Pradesh, according to Reuters.
Mamaearth parent hits 52-week high, stock jumps 77%
Honasa Consumer, the parent company of popular personal care brand Mamaearth, has seen its shares hit a new 52-week high of ₹438 per share.
Anti-NVIDIA data center start-up reaches $1.5B valuation
In a major development, TensorWave, an AI-focused cloud computing start-up, has raised $350 million in its Series B funding round.
Rajesh Exports shares hit lower circuit for 6th straight session
Rajesh Exports, one of India's leading gold refiners, has seen its share price plummet by nearly 27% since the Securities and Exchange Board of India (SEBI) issued an interim order on June 3.
NCLT accepts SBI's plea to initiate Anil Ambani's personal bankruptcy
The National Company Law Tribunal (NCLT) in Mumbai has accepted a plea from the State Bank of India (SBI) to initiate personal insolvency proceedings against industrialist Anil Ambani.
TCS rethinks small-town office expansion after Nashik harassment case
Tata Consultancy Services (TCS) is rethinking its strategy to open offices in smaller towns and cities.
Jon Prosser may get another chance to fight Apple's lawsuit
Apple and Jon Prosser's attorney have jointly requested the court to vacate a default judgment entered against him last October.
Ubisoft shuts more studios, lays off employees amid ongoing restructuring
Ubisoft, the renowned video game publisher, is undergoing another round of restructuring and layoffs. The company has decided to shut down its studios in Winnipeg and Belgrade, according to The Game Business.
India's 6G push centers on homegrown tech, patent creation
The Indian government is gearing up to start talks on a roadmap for the country's transition to sixth-generation (6G) mobile communications.
Nifty IT crashes over 2%; HCL, Infosys lead fall
The Nifty IT index, a key indicator of India's information technology sector, has witnessed a major crash today.
Anthropic to provide Claude AI access to 50,000 TCS employees
Tata Consultancy Services (TCS) has announced a global strategic partnership with artificial intelligence (AI) company Anthropic.
ShinyHunters hacked Oracle servers at over 100 organizations
The notorious cybercrime group, ShinyHunters, has claimed responsibility for breaching Oracle's PeopleSoft servers at over 100 organizations. The victims include a number of universities.
Trump says he 'loves inflation' as prices hit 3-year high
US President Donald Trump has said "I love the inflation," after consumer prices surged by 4.2% in May, the highest since April 2023.
Gold prices hit 6-month low
Gold prices have plunged to a six-month low, following fresh US military strikes on Iran.
Sam Altman-backed Opendoor exits India, lays off 250 employees
US-based real estate technology company Opendoor has announced its decision to shut down operations in India. The closure will affect nearly 250 employees working for the company in the country.
Centre waives excise duty on ethanol-blended petrol
The Indian government has waived the excise duty on certain types of ethanol-blended petrol. The exemption applies to E22, E25, E27 and E30 fuel blends.
Microsoft plans major layoffs in Xbox division
Microsoft's gaming division, Xbox, is planning major layoffs and budget cuts. The move comes as part of a restructuring effort under new CEO Asha Sharma.
Bharti Airtel rebrands priority postpaid service as 'Fast Lane'
Bharti Airtel is rapidly expanding its 5G network in northern India, adding over 2,900 new sites.
Gold prices could fall by 20%: Here we decode why
Citigroup has revised its gold price forecast, cutting the three-month target from $4,300 to $4,000 per ounce.
Modi government turns 12: A look at major tax reforms
As Prime Minister Narendra Modi completes 12 years in office, several changes have been made to India's taxation laws and systems.
Zepto's Aadit Palicha to become youngest MD, CEO in India
Aadit Palicha, the co-founder of Zepto, is set to become the youngest managing director and chief executive officer (CEO) of a publicly listed company in India.
Your IndiGo flight may soon fly over Himalayas
IndiGo, India's aviation giant, is considering the option of flying over the Himalayas.
Starlink's launch in India has not been put on hold
Starlink, Elon Musk's satellite internet service, has responded to reports of its India launch being delayed due to security concerns over the Iran conflict.
Bombay HC offers Anil Ambani interim relief in tax-evasion case
The Bombay High Court has granted interim protection from prosecution and penalty to industrialist Anil Ambani in an alleged tax evasion case.
Bharat Forge will make semiconductor chips now
Bharat Forge, India's leading forging and engineering company, has made its entry into the billion-dollar semiconductor industry.
HDFC Bank hikes FCNR deposit rates: How it affects you?
HDFC Bank has announced a major hike in the interest rates for its Foreign Currency Non-Resident (FCNR) deposits.
Palantir to sue London mayor for blocking £50M Met contract
Palantir, a US spy-tech company, is planning to sue London Mayor Sadiq Khan.
Trump family made $500M from a cryptocurrency deal
The family of US President Donald Trump made $500 million from a cryptocurrency deal, just before the involved company suffered a collapse.
Cognizant generates $200M sales pipeline by listening to employee conversations
Cognizant, a leading IT services company, has generated an additional $200 million in sales pipeline by leveraging artificial intelligence (AI) to analyze internal communications.
This Ambani-backed start-up seeks $100M to make humanoid robots
Addverb Technologies, an Indian start-up backed by billionaire Mukesh Ambani's Reliance Industries, is looking to raise over $100 million.
Salesforce has embarked on another round of layoffs
Salesforce, the leading customer relationship management (CRM) company, has laid off employees in a new round of job cuts.
Sensex up 380 points, Nifty crosses 23,300: What's driving rally?
The Indian stock market opened on a positive note today, with the Sensex rising by 378.77 points or 0.51% to hit 74,297.52.
Reliance to build Meta's 1st AI data center in India
Meta, the parent company of Facebook, has teamed up with Reliance Industries Limited (RIL) to establish its first artificial intelligence (AI)-driven data center in India.
Why xAI, SpaceX are facing class-action lawsuit in the US
Elon Musk's companies, xAI and SpaceX, are facing a class-action lawsuit filed by residents of Mississippi, US.
IDBI Bank should be sold in FY27, says report
The strategic divestment of IDBI Bank is now expected to be completed in FY27, government sources have said to Moneycontrol.
Why Microsoft has fired hundreds of Azure employees in China
Microsoft has laid off hundreds of employees in its Azure cloud unit in China.
Why Rajiv Bajaj is stepping down from Bajaj Finserv's board
Rajiv Bajaj, a prominent non-executive director at Bajaj Finserv, has decided to step down from the company's board.
World's biggest banks funneled $906B into fossil fuels last year
The world's biggest banks have pledged a staggering $906 billion in financing to the fossil fuel industry last year, a new report has revealed.
PhonePe, CRED will soon allow rent payment using credit cards
Fintech giants PhonePe and CRED are testing a new model for rent payments through credit cards.
Adani Energy is acquiring smart metering firm IntelliSmart for ₹3,050cr
Adani Energy Solutions Limited (AESL) has announced its plan to acquire IntelliSmart Infrastructure Private Limited for ₹3,050 crore.
GSK buys US biopharma company Nuvalent for $10.6B
British pharmaceutical giant GlaxoSmithKline (GSK) has announced its acquisition of US-based biopharmaceutical company Nuvalent for $10.6 billion.
DIIs buy ₹4.16L crore worth of equities in 2026
Domestic institutional investors (DIIs) have been on a buying spree in the Indian equity market this year, with their net purchases surpassing ₹4.16 lakh crore in just over five months of 2026.
This FirstCry-promoted company wants to raise ₹1,000cr via IPO
Swara Baby Products, a FirstCry-promoted company that specializes in manufacturing baby and adult diapers as well as feminine hygiene products, is gearing up for an initial public offering (IPO) of up to ₹1,000 crore.
India well-positioned to weather global economic slowdown: World Bank
The World Bank has said that India is well-positioned to weather the storm of a slowing global economy.
Pentagon blacklists Alibaba, BYD over ties to Chinese military
The Pentagon has added Alibaba, Baidu, and BYD to its list of companies allegedly aiding the Chinese military.