Business News
No jargons, no mumbo-jumbo. Read the unadulterated Business news here.
SplashBI opens Hyderabad Global Capability Center, pledges over $100 million
SplashBI, a US-based enterprise data intelligence platform, inaugurates its Global Capability Center in Hyderabad, planning a $100 million investment over five to seven years.
Bank of Baroda to hike MCLR rates from November 12, 2026
Bank of Baroda has increased its Marginal Cost of Funds Based Lending Rate (MCLR) by up to 20 basis points across select tenures, effective November 12, 2026.
Godrej Properties to launch ₹32,000cr residential projects in H2 FY2026-27
Godrej Properties plans to launch homes worth Rs 32,000 crore in the second half of FY27, doubling its launches from the first half amid robust housing demand.
Banks, investors curb lending to AI firms after Nasdaq-100 drop
Banks and investors are increasingly cautious about financing AI-related deals due to a recent market selloff and concerns over the technology's growth trajectory.
Blackstone eyes 15% stake in IIFL Finance in $600M deal
Blackstone is leading the race to acquire a 15% stake in IIFL Finance, a non-banking financial company (NBFC), through a proposed equity investment of $500-600 million, as per a Moneycontrol report.
Megaspeed International considers suing Bloomberg over NVIDIA chip report
Megaspeed International refutes claims of illegal Nvidia chip transfers to China, stating that investigations by US and Malaysian authorities found no evidence of violations.
Nifty could hit 40,000 in long term, says CLSA
Laurence Balanco, a technical analyst at capital markets and investment group CLSA, has predicted a major bullish breakout in Indian equities.
Jefferies raises India's weight to 14% in Asia-Pacific ex-Japan portfolio
Jefferies has increased India's allocation to 14% in its Asia-Pacific ex-Japan portfolio, while reducing exposure to South Korea and Taiwan due to AI investment concerns.
PhysicsWallah reports staff decline and adopts AI amid offline loss
PhysicsWallah is utilizing AI to enhance operational efficiencies, leading to job cuts, while its offline business struggles with profitability despite expansion efforts.
Coinbase approved as national trust bank by the OCC today
Coinbase has been granted full status as a national trust bank by the U.S. Office of the Comptroller of the Currency, enhancing its role in federally regulated custodial services.
European markets mostly flat as banks rally and tech retreats
European shares opened subdued as investors evaluated the global AI trade's prospects, while banking stocks rallied on merger news and strong earnings reports.
NVIDIA CEO's old love story resurfaces amid affair admission
An old video of NVIDIA CEO Jensen Huang has resurfaced, showing him narrating the story of how he won over his wife, Lori Mills.
Jio offers 5 months of free internet with this plan
Reliance Jio has launched a special Diwali offer for its JioHome customers. The deal is aimed at making the festive season more enjoyable for existing users of JioHome (Fiber/AirFiber).
Europe electricity prices surge above €600 as wind power drops
European power prices soared above €600 per megawatt-hour for peak periods on Monday due to a significant decline in wind generation, highlighting market vulnerabilities.
ICICI Securities recommends buy on Mphasis with ₹3,030 target
ICICI Securities has issued a buy rating for Mphasis, setting a target price of Rs 3,020, driven by increased FY27 guidance and strong deal pipeline.
ICICI Securities gives Bharti Airtel buy rating with ₹2,430 target
ICICI Securities maintains a bullish stance on Bharti Airtel, setting a target price of Rs 2,430 due to strong performance and growth prospects in digital services and Africa.
ICICI Securities upgrades TTK Prestige to buy with ₹725 target
ICICI Securities has issued a buy rating for TTK Prestige, citing strong domestic demand and market share gains, with a target price set at Rs 725.
Can NVIDIA fire Jensen Huang amid China spy probe?
NVIDIA's board has initiated an independent investigation into claims that CEO Jensen Huang was the target of a foreign intelligence operation.
SEBI approves MakeMyTrip's MMT India IPO after July filing
MakeMyTrip's Indian subsidiary, MMT India, has received approval from Sebi to proceed with an initial public offering, following a confidential draft filing in July.
SoftBank's $64.6B OpenAI stake complicates Nov 10 earnings outlook
SoftBank Group's upcoming quarterly earnings report will be closely watched as investors seek clarity on its AI strategy amid recent stock selloffs and regulatory challenges.
RBI asks some banks reclassify bond forwards level 3 assets
The Reserve Bank of India has instructed some banks to classify bond forwards as Level 3 assets, potentially impacting regulatory capital and dividend distributions.
Indian bonds steady as investors await US and India inflation
Indian government bonds showed limited movement as oil prices stabilized, while investors remained cautious ahead of upcoming US and Indian inflation data.
NVIDIA CEO Jensen Huang admits affair with accused Chinese spy
Nvidia CEO Jensen Huang has confessed to an affair, drawing attention to his wife Lori, who is president of their family's $9 billion charitable foundation.
Indian Overseas Bank launches IOB Digital Rupee app for payments
Indian Overseas Bank has introduced the IOB Digital Rupee app, enabling secure and seamless transactions using India's Digital Rupee with UPI interoperability.
Anand Rathi gives Mphasis a buy call with ₹3,079 target
Anand Rathi recommends a buy rating on Mphasis, citing strong Q2FY27 performance and setting a target price of Rs 3,079, indicating a potential upside of approximately 22%.
Sridhar Vembu warns of global automation and AI job crunch
Zoho founder Sridhar Vembu warns that automation and AI are threatening traditional employment, urging a shift towards entrepreneurship as youth unemployment rises globally.
Sonata Software sees 2026 growth with AI orders at 25%
Sonata Software anticipates enhanced growth in the latter half of FY27, driven by increasing demand for AI-led services, which now constitute nearly 25% of its order book.
NVIDIA CEO Jensen Huang's family now holds key leadership roles
Nvidia CEO Jensen Huang has integrated his family into the company's leadership, with his children and son-in-law holding key roles in important business divisions.
SpaceX plans $24 billion Starbase supercompute center and gas plant
SpaceX plans a $24 billion supercomputing facility in Starbase, Texas, valued at 17 times its bitcoin holdings, and seeks a property tax break for the project.
Coca-Cola's India bottling arm files draft papers for IPO
Hindustan Coca-Cola Holdings, the parent company of Coca-Cola's bottling operations in India, has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO).
BlueStone Jewellery and Lifestyle reports 45% festive business jump
BlueStone Jewellery and Lifestyle reported a 45% year-on-year business growth from October 1 to November 8, driven by increased buyers during the festive Dhanteras-Diwali period.
Traders to approach courts, government over losses caused by protests
The Confederation of All India Traders (CAIT) has announced plans to approach the governments and judiciary over business disruptions caused by political protests.
Record Q2 lifts Hindalco shares to ₹959.85 despite LME pressures
Shares of Hindalco Industries rose 0.72% to ₹959.85 following record quarterly results, with analysts maintaining buy ratings despite some target price reductions.
Motilal Oswal recommends buy on ONGC with ₹285 target
Motilal Oswal has issued a buy rating for ONGC, setting a target price of Rs 285. The recommendation is based on favorable valuations and projected earnings growth.
McKinsey: AI speeds analysis but slows decisions and hampers learning
McKinsey warns that while AI accelerates business analysis, it may slow decision-making and weaken future leadership by overwhelming executives with rapid, complex data outputs.
NVIDIA board probes Jensen Huang over reported Beijing intelligence ties
Nvidia's major shareholders include Vanguard, BlackRock, Fidelity, and State Street, while CEO Jensen Huang holds the largest individual insider stake amid a board investigation.
Thums Up outsells Coca-Cola across 10 Indian states, HCCB filing
Thums Up surpasses Coca-Cola in sales value across 10 states, as revealed by Hindustan Coca-Cola Bottling's IPO draft papers.
Motilal Oswal gives Jubilant FoodWorks buy rating at ₹625 target
Motilal Oswal has issued a buy rating for Jubilant FoodWorks, setting a target price of Rs 625, driven by strong revenue growth and margin expansion in recent quarters.
NVIDIA stock drops 4% as Jensen Huang scandal rattles investors
NVIDIA's shares fell by some 3.7% on Robinhood's trading platform after the company's board initiated an investigation into CEO Jensen Huang.
Motilal Oswal backs Glenmark with ₹3,000 target after Q2 FY27
Motilal Oswal has issued a buy rating for Glenmark Pharma, setting a target price of Rs 3000, following its strong operational performance in 2QFY27.
Motilal Oswal sets ₹940 target for Fortis after H1 FY27
Motilal Oswal recommends a buy rating for Fortis Healthcare, citing strong performance and expansion plans, with a target price set at Rs 940.
Gold and silver spike on MCX as silver outpaces gold
Gold futures rose 1.11% to ₹1.44 lakh per 10 grams, while silver gained 1.70% to ₹1.88 lakh per kilogram on the MCX, driven by bargain buying and softer crude prices.
Jensen Huang investigated after admitting unfaithfulness amid Chinese spy allegation
Jensen Huang, Nvidia's visionary leader, faces a personal scandal involving an alleged affair with a suspected Chinese spy, casting shadows over his illustrious career.
L&T wins ₹2,500cr Noida Aqua Line 15.1km, 10 stations
Larsen & Toubro Ltd. has received a significant order valued between ₹1,000 crore and ₹2,500 crore for the design and construction of the Noida Metro Aqua Line Extension.
Oil slips below $98 as Trump signals restraint on Iran
Oil prices continued their downward trend on Monday after witnessing the biggest weekly drop since April 2020.
China extends suspension of 24% tariffs on US goods
China has announced an extension of the suspension on additional 24% tariffs on US goods by two months.
Beijing pledges market stability as Shanghai and Hang Seng rise
Chinese and Hong Kong stocks rose modestly as Beijing committed to stabilising capital markets, despite ongoing economic concerns and global technology-sector volatility.
Japan spends $50.36 billion in 1 day to support yen
Japan spent a record $50.36 billion in a single day in July to bolster the yen, which had plummeted to its lowest level against the dollar in 40 years.
BSE and NSE close Tuesday for Diwali Balipratipada, indices down
BSE and NSE were open for Muhurat Trading on Sunday but will remain closed on Tuesday, November 10, for Diwali-Balipratipada.
Antala Industries IPO oversubscribed 12.2x, BSE SME listing Nov 11
Antala Industries shares are set to debut on the BSE SME platform on November 11, with a grey market premium indicating a flat listing at Rs 66.
NVIDIA CEO Jensen Huang now world's 10th richest, $155 billion
Nvidia CEO Jensen Huang's net worth is $155 billion, largely derived from his 3.4% stake in the company, which has thrived amid the AI boom.
NVIDIA $4.5 trillion giant agrees up to $100B OpenAI investment
Nvidia, valued at $4.5 trillion, is central to the AI industry, with significant ties to OpenAI, Microsoft, and Oracle through investments and strategic partnerships.
Trump backs NVIDIA CEO Jensen Huang amid China spy probe
US President Donald Trump has expressed his support for NVIDIA CEO Jensen Huang, who is currently under investigation over possible foreign intelligence targeting.
Google acquires Crusoe's unfinished southeastern Wyoming data center, price undisclosed
Crusoe, a $30.9 billion AI infrastructure startup, sold its unfinished Wyoming data center project to Google after initially failing to secure them as a customer.
Indian rupee hits 7-month high, rises to 93.70 against dollar
The Indian rupee hit a seven-month high in the early trading session on Monday, November 9.
Citi Research forecasts Nifty 50 at 28,000 by end 2027
Citi Research predicts the Nifty 50 index will reach 28,000 by end-2027, driven by strong earnings and lower oil prices, implying a 12% upside from its last close.
Who's Alice Huang, the woman linked to NVIDIA CEO's affair?
Alice Huang, a Chinese national, has been implicated in an alleged affair with NVIDIA CEO Jensen Huang.
Japan's Nikkei 225 climbs 2% to 58,584.11, Topix rises 2.8%
Japan's Nikkei 225 rose 2% on Monday, recovering from last week's sharp technology stock selloff, driven by Wall Street gains and tech sector stabilization.
Indian rupee opens 93.81 against US dollar after foreign inflows
The Indian rupee strengthened to 93.81 against the US dollar, driven by robust foreign investment inflows and a significant decline in crude oil prices.
NVIDIA probes CEO Jensen Huang's affair with Chinese spy
NVIDIA, one of the world's most valuable companies, has launched an independent investigation into its CEO Jensen Huang's alleged relationship with a suspected Chinese spy named Alice Huang.
Indian rupee at 93.70 amid over $4bn inflows, oil slump
The Indian rupee appreciated 28 paise to 93.70 against the US dollar in early trade, driven by increased foreign inflows and declining oil prices.
Samsung set to start trial production at Taylor Texas plant
Samsung Electronics is set to begin trial operations at its new chip manufacturing facility in Taylor, Texas, by mid-to-late December, with mass production planned for 2027.
Investors favor low cost AI in IT companies, report finds
IT companies that can monetise AI adoption without substantial capital investments may gain an advantage as investors focus on returns rather than infrastructure spending.
Oil dips, optimism over foreign funds lift Indian stocks
Indian shares are poised to open higher on Monday, driven by a drop in crude oil prices and optimism over substantial foreign inflows.
South Korea assures NVIDIA GPU shipments despite Jensen Huang probe
South Korea's Vice Minister of Science and ICT assured that Nvidia's contracted GPU deliveries will remain unaffected despite recent controversies involving the company's CEO.
China producer prices jump 5.7% as consumer inflation falls 0.7%
Producer prices in China rose by 5.7% in October, marking the fastest increase since June 2022, while consumer inflation decelerated to 0.7%, missing expectations.
Major Indian nonbank finance firm raises cyber cover to 2000cr
Large financial institutions are increasing their cyber insurance limits due to rising cyberattack threats and potential substantial financial losses from system disruptions.
Bitcoin, Ether fall after midterms amid Democratic-led regulation fears
Cryptocurrencies, including bitcoin and ether, hit two-month lows following political changes in Washington and a significant security breach at Binance.
NVIDIA investigates CEO Jensen Huang over affair with Alice Huang
Nvidia has launched an independent investigation into CEO Jensen Huang's affair with an alleged Chinese spy, while Donald Trump defends Huang as an "honorable" person.
Vitalik Buterin: India's 30% tax and 1% TDS harm developers
Ethereum co-founder Vitalik Buterin warns that India's 30% tax on crypto gains and 1% TDS could stifle blockchain innovation and burden smaller developers.
Oil prices fall after President Trump says Iran war unlikely
Oil prices dropped as President Trump indicated that new attacks on Iran are improbable, contingent on ongoing talks, despite recent shipping disruptions near the Strait of Hormuz.
Brent crude falls under $98 after more than 16% drop
Oil prices continued their decline on November 9, with Brent futures trading at $97.97 per barrel, following a significant 16% drop the previous week.
LIC restructures strategy after Irdai proposal, readies for IDBI sale
LIC asserts its advantageous position under Irdai's new norms, citing a low expense ratio and diversified network, despite the impending sale of IDBI Bank.
Gold nudges to $4,073.59 as oil falls, US jobs strong
Gold prices rose 0.2% on Monday, aided by declining oil prices that eased inflation worries, while expectations of prolonged high US interest rates limited further gains.
Kotak Investment Advisors to raise 4,500cr real estate fund
Kotak Investment Advisors plans to raise ₹4,500 crore through its 16th real estate fund, focusing on India's residential and commercial property markets.
Asia Pacific markets rise on chip surge amid NVIDIA probe
Asian stocks opened mostly higher following gains in US equities, but concerns over an investigation into Nvidia's CEO Jensen Huang tempered advances.
Government AI alert spurs Indian firms to station startup experts
Indian companies are increasingly deploying on-site security engineers to combat sophisticated AI-led cyber threats, moving beyond remote monitoring to enhance digital defenses.
Redington and Ingram Micro pivot to AI infrastructure in India
Redington Ltd and Ingram Micro are capitalizing on India's AI and data center surge, with AI infrastructure becoming a key growth driver for both companies.
Nasdaq dips 150 points amid Jensen Huang probe, Dow rebounds
Nasdaq futures dropped 150 points amid Nvidia CEO's investigation, while investors brace for key inflation data and Fed speeches that could impact market sentiment this week.
NVIDIA investigates CEO Jensen Huang over ties to Chinese intelligence
Nvidia has launched an independent investigation into CEO Jensen Huang after reports of his alleged ties with Alice Huang, suspected of espionage by US intelligence.
Apple saves $2.7B in taxes by shifting profits to Singapore
Apple has saved a whopping $2.7 billion in taxes by shifting its profits to Singapore, a move that has come under fire and raised questions about corporate tax practices.
Employee automates job, gets fired, then asked to train replacement
An employee has sparked a major debate after claiming that their employer laid them off after they automated most of their daily tasks.
RBI dismisses rumours of new cheque books from January 2027
The Reserve Bank of India (RBI) has debunked rumors about new Cheque Truncation System (CTS) cheque books with enhanced security features.
Muhurat trading today: Check trading schedule, timings, and settlement rules
The Indian stock market will host a special one-hour Diwali Muhurat trading session today.
Binance CFO exits after $6.3B crypto hack
Kaiser Ng, the Chief Financial Officer (CFO) of cryptocurrency exchange Binance, is leaving his position.
Foreign investors pour ₹46,000cr into Indian equities in one week
Foreign institutional investors (FIIs) have made a massive investment in Indian equities, pouring in a net amount of ₹45,960 crore over the last week.
Berkshire buys back $9.6B in shares as earnings fall 5.8%
Berkshire Hathaway, led by CEO Greg Abel, reported a 5.8% decline in its third-quarter operating earnings to $12.7 billion.
SEBI's revised settlement rules introduce new fees and faster procedures
The Securities and Exchange Board of India (SEBI) has implemented its new Settlement of Administrative and Civil Proceedings Regulations, 2026.
Long-time Google exec resigns from SpaceX board
Donald Harrison, a long-time Google executive, has resigned from the board of directors at SpaceX.
Amazon agrees to $310M refund lawsuit settlement: Who is eligible
Amazon has agreed to a massive $309.5 million settlement over allegations of failing to properly issue refunds to customers.
SBI expands international presence, opens new branch in Texas
The State Bank of India (SBI) has expanded its international presence by opening a new branch in Frisco, North Dallas, Texas.
Microsoft's AI research head resigns, calls situation a 'train wreck'
John Langford, the mind behind Microsoft's AI research group, AI Frontiers, has resigned from the tech giant.
Coca-Cola's Indian bottler files draft papers for $1B IPO
Hindustan Coca-Cola Holdings (HCCH), the parent of Hindustan Coca-Cola Beverages (HCCB) and The Coca-Cola Company's largest bottling partner in India, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI).
Sequoia shuts London office, ends scout program in major restructuring
Sequoia Capital, one of the world's leading venture capital firms, has announced a major restructuring.
ED raids CoinDCX, Delta offices over alleged exchange violations
The Enforcement Directorate (ED) has raided the offices of cryptocurrency platforms CoinDCX and Delta Exchange in Bengaluru.
Voltas appoints Noel Tata as Chairman Emeritus
Leading cooling products manufacturer Voltas has announced the appointment of Noel N Tata, Chairman and Director of the company, as its new Chairman Emeritus.
OpenAI hits $1.25 trillion valuation on $11B funding round
OpenAI has reportedly raised $11 billion in a new funding round, valuing the artificial intelligence (AI) lab at a whopping $1.25 trillion.
PNB fraud: Court issues non-bailable warrant against Jayesh Shah
A special Central Bureau of Investigation (CBI) court has issued an open-ended, non-bailable warrant against Jayesh Shah, a Hong Kong-based accused in the Punjab National Bank (PNB) fraud case.
MobiKwik gets RBI nod to start NBFC operations
MobiKwik Financial Services Private Limited (MFSPL), a wholly-owned subsidiary of One MobiKwik Systems, has received the Reserve Bank of India's (RBI) Certificate of Registration to operate as a Non-Banking Financial Company (NBFC).
BSNL, Vodafone Idea in talks to share network infrastructure: Report
State-owned telecom giant Bharat Sanchar Nigam (BSNL) and private operator Vodafone Idea are reportedly in discussions to share network infrastructure.
Mamaearth parent Honasa's Q2 profit jumps 87% to ₹73 crore
Honasa Consumer Limited, the parent company of Mamaearth, has reported stellar financial results for the September quarter (Q2FY27).
Dhanteras to generate over ₹1 lakh crore in business: CAIT
The Confederation of All India Traders (CAIT) has predicted that Dhanteras will generate over ₹1 lakh crore in business across India today.
Centre clears 12 electronics projects worth ₹7,500 crore
The Indian government has approved 12 projects under the Electronics Component Manufacturing Scheme (ECMS), with a combined investment of over ₹7,500 crore.
Gujarat Energy signs 10-year LNG deal with ADNOC
Gujarat Energy has signed a long-term Sales and Purchase Agreement (SPA) with Abu Dhabi National Oil Company (ADNOC) to procure up to four million tons of Liquefied Natural Gas (LNG).