Business News
No jargons, no mumbo-jumbo. Read the unadulterated Business news here.
Emkay gives Paytm parent buy, targets ₹2,300 after Q2FY27 beat
Emkay Global Financial has issued a buy rating for One 97 Communications, setting a target price of Rs 2,300 due to strong financial performance and growth prospects.
Warp Sciences raises $215 million to speed US drug discovery
Manohar Paluri, an IIIT Hyderabad graduate, left Meta after 14 years to co-found Warp Sciences, a $215 million startup focused on accelerating drug discovery using AI and robotics.
Noel Tata to retire from 6 Tata boards at 70
Noel Tata will retire from six major Tata Group company boards on November 12, but will continue as a nominee director for Tata Trusts on the board of Tata Sons.
A S Sahney says India's gasoline demand peaks 2035
Indian gasoline demand is expected to peak by 2035 as electric vehicles become more common, while diesel and jet fuel consumption will continue to grow due to industrial expansion.
Jio Platforms hits $100 billion valuation, joins Meta and SpaceX
Jio Platforms has joined Meta, Alibaba, and SpaceX as a founder-led company achieving over $100 billion in equity valuation at its IPO, marking a significant market debut.
CXMT to start limited HBM3E production amid US export controls
China's CXMT plans to produce HBM3E memory chips, crucial for AI processors, despite achieving only 20-30% yields compared to industry leaders like SK Hynix.
Amazon's Terk Terkowitz urges engineers to reconnect with real customers
Amazon urges its software engineers and managers to deepen customer connections, emphasizing the importance of understanding business needs as AI transforms software development.
ICICI Securities recommends buying Cipla with ₹1,610 target after Q2
ICICI Securities maintains a bullish outlook on Cipla, recommending a buy rating with a target price of Rs 1610, citing robust growth in US sales and chronic therapies.
In Tokyo Tarique Rahman urges Japan to invest $6.3 billion
Bangladesh Prime Minister Tarique Rahman discussed a proposed $6.3 billion Japanese private investment during his four-day visit to Tokyo.
ICICI Securities maintains buy on Bajaj Auto, raises ₹11,950 target
ICICI Securities recommends a buy on Bajaj Auto, citing strong Q2FY27 performance and robust demand trends, with a revised target price of Rs 11,950.
ICICI Securities gives Larsen & Toubro buy rating, ₹4,450 target
ICICI Securities recommends a buy rating for Larsen and Toubro, citing strong order inflows and improved execution, with a target price set at Rs 4,450.
Indiamart posts nearly 10% Q2 FY27 profit and ₹428.64cr revenue
Indiamart Intermesh Ltd reported a 9.8% increase in net profit to ₹90.7 crore for the September quarter, with revenue rising 9.6% to ₹428.64 crore year-on-year.
Japan 10-year yield hits 2.805% before Bank of Japan meeting
Japanese government bond yields increased as AI-driven equity gains reduced safe-haven demand, with investors anticipating the Bank of Japan's upcoming policy meeting.
Union Cabinet to review ₹10,000cr Container Manufacturing Assistance Scheme (CMAS)
The Union Cabinet is set to approve the Rs 10,000 crore Container Manufacturing Assistance Scheme, aiming to boost domestic production and reduce reliance on imports.
Sensex jumps 400 points intraday but falls, Nifty above 22,600
Benchmark indices Sensex and Nifty recovered from early losses on October 28 due to value buying and significant foreign portfolio investor activity.
Japan's Nikkei 225 jumps 1.34% to 64,117.58 as semiconductors rally
Japan’s Nikkei surged 1.34% as semiconductor stocks gained, following a technology-led rally on Wall Street, while investors awaited the US Federal Reserve's policy decision.
Adani Enterprises loses about $10bn as analysts eye earnings
Adani Enterprises Ltd. faces heightened scrutiny as its shares plummet over 20% since July, erasing nearly $10 billion in market value amid rising debt concerns.
Anand Rathi report says Indian IT poised for AI boom
Indian IT companies stand to gain from enterprise AI adoption, leveraging an asset-light model as infrastructure costs and financial risks increase for firms building AI capacity.
Anand Rathi recommends Jubilant Ingrevia as buy with ₹900 target
Anand Rathi has issued a buy rating for Jubilant Ingrevia, setting a target price of Rs 900, driven by strong Q2FY27 performance and promising growth in key segments.
Anand Rathi gives Maruti Suzuki buy rating and ₹15,350 target
Anand Rathi has issued a buy recommendation for Maruti Suzuki, setting a target price of Rs 15,350. The firm anticipates robust growth in volume and market share through FY29.
China and Hong Kong markets rebound after SK Hynix profits
Chinese and Hong Kong stocks rebounded after two sessions of losses, driven by technology shares following SK Hynix's strong earnings, which renewed optimism in AI demand.
Dainik Bhaskar family office invests ₹12.5cr in Vama, ₹19.03cr round
Dainik Bhaskar's family office has led a Rs 19.03 crore funding round in spiritual tech startup Vama, marking one of its first recorded startup investments.
Federal Reserve set to keep rates steady before midterm elections
Despite rising inflation due to increased oil and gas prices, the Federal Reserve is expected to maintain current interest rates at its October 28, 2026 meeting.
Nomura maintains Buy on Jindal Steel with ₹1,300 target
Nomura has maintained its Buy rating on Jindal Steel, setting a target price of Rs 1,300 following a Q2FY27 consolidated EBITDA that surpassed forecasts by up to 15%.
Jio IPO up over 21% overtakes Airtel by market value
Jio Platforms' IPO provided over 21% returns, making it the most profitable among the top five mega public issues, with minimum lot investors gaining Rs 5,497.
The Hindu opens Best Places to Work India 2027 entries
Entries are open for The Hindu Best Places to Work 2027 Awards, offering leadership teams in India a chance to enhance workplace culture and gain national recognition.
India and Mexico agree to start Preferential Trade Agreement work
India and Mexico have signed the Terms of Reference to begin negotiations on a Preferential Trade Agreement, aiming to enhance bilateral trade and investment opportunities.
Jio IPO exceeds expectations as Akash Ambani vows expansion
Akash Ambani pledged to elevate Jio Platforms following its successful IPO, aiming to democratize technology and transform Indian lives with his siblings Isha and Anant.
Jio Platforms listing becomes India's biggest public offering raising ₹30,200cr
Jio Platforms' strong stock market debut shifts investor focus to value unlocking for Reliance Industries and the future growth potential of its diverse business segments.
Jio Platforms IPO opens 21.4% higher, values company ₹12.6L/cr
Jio Platforms became India's second most valuable company by listing at a 21.4% premium, with shares priced at Rs 1,358, elevating its market capitalisation to Rs 12.6 lakh crore.
Jio Platforms unveils plan to democratize AI cloud satellite connectivity
Jio Platforms aims to democratize AI, cloud computing, and satellite connectivity over the next decade, serving over 540 million customers in India.
Jio Platforms shares jump 21% on Mumbai debut after $3.2B
Jio Platforms shares surged 21% on their Mumbai debut, following India's largest-ever initial public offering, raising $3.2 billion for Reliance Industries.
RBI action drains banks' surplus from ₹11T to ₹462B
Indian banks' cash surplus has rapidly decreased as the Reserve Bank of India maintains tight liquidity to deter currency speculation and defend the rupee.
Motilal Oswal sets ₹1,350 target for Jio after ₹30,188cr IPO
Motilal Oswal has initiated coverage on Jio Platforms with a Buy rating and a target price of Rs 1,350, anticipating growth driven by tariff hikes and digital expansion.
Bitcoin rebounds to nearly $81,000 ahead of Fed rate decision
Bitcoin climbed nearly 2% to just under $81,000 as traders anticipated the Federal Reserve's rate decision, while ZEC surged 8% to about $1,320.
Anand Rathi endorses Bombay Coated and Special Steels IPO
Anand Rathi recommends subscribing to the Bombay Coated and Special Steels Ltd IPO, citing its reasonable pricing and strong growth potential in the steel processing sector.
Jio Platforms lists on NSE at ₹1,119 with 22.19x subscription
Jio Platforms became the 12th Reliance Group company to list on the NSE, with its IPO attracting significant investor interest and a subscription rate of 22.19 times.
SK Hynix Q3 profit surges 632% to record $63B
South Korean chipmaker SK Hynix has reported a stellar performance in the third quarter of 2026.
Bitcoin hits $81,093 after 1.63% jump amid mixed ETF flows
Bitcoin surged 1.63% to near $81,093 as retreating oil prices and strong US corporate earnings improved risk sentiment, despite limited institutional activity in Bitcoin ETFs.
Indian rupee opens at 95.08 per dollar ahead of Fed
The rupee appreciated to 95.08 per dollar as falling crude prices provided relief, while investors await the US Federal Reserve's policy decision for further market direction.
Sensex drops 700-plus points as oil spikes after Saudi attack
Benchmark indices opened lower on October 28, with the Sensex dropping 712.74 points and Nifty nearing 22,550, driven by rising crude prices and IT sector losses.
PhonePe rebrands Indus Appstore as gift card and voucher marketplace
PhonePe is rebranding its Indus Appstore as PhonePe Appstore, expanding it into a broader digital marketplace offering gift cards and vouchers from various brands.
Citi Institute report says almost 60% still experimenting with AI
A report by Citi Institute reveals that nearly 60% of organizations are still in the exploration or pilot stages of AI adoption, with deployment remaining a significant challenge.
Jio Platforms lists October 28 with expected ₹1,365 to ₹1,366
Jio Platforms shares will debut on October 28, available under the Margin Trading Facility (MTF) immediately, with a strong grey market premium indicating robust investor interest.
HSBC CEO Georges Elhedery warns on AI data center rush
HSBC CEO Georges Elhedery advises companies and investors to scrutinize data center agreements and financial strength, as AI-driven demand surges but not all projects are viable.
Accenture finds falling AI token prices may not cut costs
AI token consumption is projected to increase by 78% over the next two years, potentially offsetting savings from a 19% decline in token prices, according to Accenture.
SK Hynix declares $45 billion payout after profits soar sevenfold
SK Hynix plans to return $45 billion to shareholders after reporting a seven-fold profit increase, driven by strong AI memory chip demand and strategic stock sales.
Prime Minister Modi to lead Cabinet meeting on trade, economy
PM Modi is set to chair a Union Cabinet meeting today, with key policy announcements anticipated that could impact various sectors and economic strategies.
Indian markets weaker as oil hits $115.7, Jio Platforms lists
Indian shares are poised to open lower on Wednesday as rising oil prices dampen risk appetite, with attention also on Jio Platforms' anticipated market debut.
Anthropic diversifies chip sourcing as OpenAI plans Google chip purchases
Anthropic diversifies its AI chip usage across four platforms, while OpenAI plans to purchase Google chips, potentially challenging Nvidia's dominance in the AI computing market.
Paras Healthcare lists on Dalal Street after 2x subscribed IPO
Paras Healthcare's IPO, subscribed 2.23 times, debuts today with a grey market premium of ₹13 per share, reflecting strong investor interest.
Anthropic's Claude Enterprise 40% off through OneGov may save $1B
Anthropic is offering a 40% discount on its AI services to US government agencies, despite ongoing legal disputes with the Pentagon over military use and AI safety restrictions.
Brent crude $115.10 after Yemen's Houthi claim on Saudi refinery
Brent crude remains steady at $115 per barrel, while WTI trades at $100, following concerns over supply disruptions due to geopolitical tensions in the Middle East.
CBIC issues GST guidelines to reduce litigation and speed registrations
The Central Board of Indirect Taxes and Customs has issued circulars to reduce litigation, expedite registrations, and address sectoral concerns in the GST framework.
Nomura rates Jio Platforms buy at ₹1,340 per share
Nomura has initiated coverage on Jio Platforms with a "buy" recommendation, setting a price target of ₹1,340, indicating a 20% upside from the upper price band.
Anthropic to reserve 15% to 20% retail shares in IPO
Anthropic PBC has chosen JPMorgan Chase & Co. to spearhead the US retail share sale for its IPO, considering a 15–20% allocation to individual investors.
Cognizant reportedly in talks to invest in Sarvam valued $3.5-$4B
Cognizant Technology Solutions is negotiating to invest in Indian AI startup Sarvam, potentially valuing the company at $3.5-4 billion, sources reveal.
Cognizant forms software engineering group to boost clients' AI investments
Cognizant Technology Solutions is merging its application development, digital engineering, and software testing practices to meet client demands for better AI investment returns.
Poonam Gupta says external shocks prevented India reaching 8% growth
India's economy could have achieved 8% growth, according to RBI Deputy Governor Poonam Gupta, if not for challenging global conditions impacting its economic resilience.
Indian rupee at 95.11 after likely RBI US dollar sales
The Indian rupee slightly strengthened to 95.11 against the dollar on Tuesday, likely due to the Reserve Bank of India's intervention by selling dollars.
SK Hynix reports 104.62 trillion won quarter amid AI boom
SK Hynix reported a significant increase in third-quarter revenue and operating profit, driven by strong demand for AI memory chips, surpassing analyst expectations.
State policy chief Jeremy Lewin resigns, returns to private sector
Jeremy Lewin, a former member of Elon Musk's Department of Government Efficiency, announced his departure from the US State Department after nearly two years in a key policy role.
Walmart trains more than 2.1 million associates in AI tools
Walmart reports that AI training and certification programs have significantly increased confidence among its 2.1 million associates in using the technology.
FCC approves Amazon's $11.5B Globalstar acquisition to boost Leo launch
Amazon has secured FCC approval for its $11.5 billion acquisition of Globalstar, bolstering its satellite network to compete with SpaceX's Starlink.
Meta $95B offering calms markets as Oracle Alphabet Amazon prepare
Investor concerns over AI-related debt have diminished, but upcoming updates from Oracle, Alphabet, and Amazon will be crucial in assessing future market sentiment.
NYSE plans binary return options for Apple NVIDIA Tesla
The New York Stock Exchange is launching binary return options, allowing investors to make all-or-nothing bets on stock prices, as demand for event-driven trading grows.
CFTC probes Polymarket over US access controls and marketing
Federal regulators are scrutinizing Polymarket for potentially failing to block US traders from its offshore platform, following a 2022 settlement agreement, according to a report.
Honeywell Technologies and RPG Group seek AI talent for manufacturing
Manufacturing firms in India are actively seeking AI leaders to enhance efficiency and integrate advanced technologies into their operations.
Piramal Pharma posts ₹5cr profit, revenue up 28% to ₹2,617.06cr
Piramal Pharma reported a consolidated net profit of ₹5 crore for the July-September quarter, with revenue from operations increasing by 28% year-on-year to ₹2,617.06 crore.
ASM International raises 2027 sales forecast over €5.7bn amid AI
ASM International NV raised its 2027 revenue target by 24%, driven by increased demand from AI-related investments and memory chipmakers.
Boeing cuts 737 Max 2026 delivery target, shares drop 10%
Boeing has reduced its 737 Max delivery target for the year, causing shares to drop to an 18-month low as recovery efforts face delays.
Cipla and Qilu plan US Keytruda biosimilar launch around 2029
Cipla partners with Qilu Pharmaceutical to commercialize a Keytruda biosimilar, aiming for significant market share post-2029 patent expiry.
Wall Street rises on Anthropic IPO excitement and oil decline
US stocks climbed as AI-driven tech gains bolstered the market, with nearly half of S&P 500 companies reporting better-than-expected third-quarter earnings.
OPEC+ likely to maintain oil output targets for December
The Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively known as OPEC+, are likely to maintain their December oil production targets.
Greater Noida's upcoming AI, robotics park to create 1L jobs
The Uttar Pradesh government has announced plans to set up a state-of-the-art robotics and artificial intelligence (AI) park in Greater Noida.
Maruti Suzuki Q2 profit tanks 26% to ₹2,466cr
Maruti Suzuki India has reported a 26.4% year-on-year decline in its consolidated net profit for the second fiscal quarter.
Kylian Mbappe loses Chinese sponsorships over alleged Mao joke
French football star Kylian Mbappe has lost several sponsorship deals with major Chinese brands.
Jio, Airtel lead India's 7.2M telecom subscriber additions
India's telecom market witnessed a significant surge in subscribers last month, according to data released by the Telecom Regulatory Authority of India(TRAI).
E20 controversy 'paid campaign': Gadkari after Centre clears E100 pathway
Union Road Transport Minister Nitin Gadkari has dismissed the controversy over 20% ethanol-blended petrol, also known as E20 fuel, calling it a "paid campaign."
iPhone demand cools in India as festive sales fall 30%
Apple's iPhone has witnessed a significant drop in sales during the festive season, with reports suggesting a decline of up to 30%.
New ₹1,000 banknote with a temple image is fake
A new ₹1,000 currency note with a temple image has been doing the rounds on social media.
Why some PNB accounts will be closed after November 10
Punjab National Bank (PNB) has announced its decision to shut down certain accounts after November 10.
ByteDance founder Zhang Yiming is China's richest person again
Zhang Yiming, the founder of ByteDance, has reclaimed the top spot on China's rich list.
Investment giant Blackstone opens new global capability center in Bengaluru
US-based alternative asset manager Blackstone has opened its second office in India.
Oil slips below $115 as Saudi and Iran discuss de-escalation
Crude oil prices continued their downward trend on Tuesday, with the global benchmark Brent Crude trading at $114.94 per barrel, a 0.73% decline.
Anthropic flags 'catastrophic risks' from AI ahead of major IPO
Anthropic has warned that advanced AI systems could pose "catastrophic or existential risks to humanity." The warning comes as the firm prepares for its upcoming stock market listing in the US.
Trade deals unlocking 76% of global GDP for India: Goyal
Commerce and Industry Minister Piyush Goyal has said that India's growing network of trade agreements could significantly boost economic growth, attract investments, and create jobs.
You can now open an NPS account on PhonePe
PhonePe has unveiled a new feature called Tatkal NPS.
DoorDash might buy grocery delivery platform Instacart for around $17B
Food delivery giant DoorDash is said to be in advanced talks to acquire grocery delivery platform Instacart.
Netflix hires former Apple executive to boost podcast catalog
Netflix has hired Steve Wilson, a former Apple Podcasts executive, to lead its podcast content acquisition.
L&T bags contracts for Dhaka metro worth ₹5,000-10,000cr
Larsen & Toubro (L&T) has bagged design-and-build contracts worth ₹5,000 crore to ₹10,000 crore for Bangladesh's first underground metro project.
Jio shares to list tomorrow: What current GMP indicates
Jio Platforms, the telecom and digital services arm of Reliance Industries, is all set to make its stock market debut on Wednesday.
Meta plans $95B stock sale to fund AI ambitions
Meta Platforms has announced plans to raise a whopping $95 billion in capital, primarily for its artificial intelligence (AI) infrastructure and superintelligence projects.
Anthropic's IPO numbers reveal AI's staggering growth and costs
Anthropic, the artificial intelligence (AI) lab behind the Claude chatbot, has filed papers for an initial public offering (IPO) on Wall Street next month.
Anup Bagchi takes charge as HDFC Bank CEO
Anup Bagchi has officially taken over as the Managing Director and Chief Executive Officer (MD & CEO) of HDFC Bank. He succeeds Sashidhar Jagdishan, whose tenure ended on October 26.
Skydance initiates voluntary exits ahead of layoffs, mandates 5-day-office workweek
Skydance, the media and entertainment company, has announced a voluntary buyout program for select employees.
Microsoft offers voluntary exit option to around 60,000 employees
Microsoft has offered a voluntary exit option to its employees as a way to streamline its workforce.
Anthropic files for what could be world's biggest IPO ever
Anthropic, the US-based company behind the Claude chatbot, has filed for an initial public offering (IPO).
Why Meta is selling stocks worth almost $35B
Meta Platforms has launched a public offering of nearly $35 billion in common and convertible preferred stocks.
Not just Europeans, Indian pilots are also flying severely fatigued
A recent survey by the European Cockpit Association has revealed that 24% of pilots in Europe have flown while severely fatigued.
Modi government might overhaul LTCG tax on equities soon
The Indian government is likely to take a decision on restructuring the long-term capital gains (LTCG) tax on equities in the coming weeks, as per Moneycontrol.
Pronto founder launches AI start-up Provision Labs in US
Anjali Sardana, the visionary behind home services start-up Pronto, has launched a new artificial intelligence (AI) venture called Provision Labs in the US.
Tata Steel's presence in Netherlands reflects India's industrial footprint: Goyal
Union Commerce and Industry Minister Piyush Goyal has highlighted the growing global presence of Indian businesses.
This green energy firm is planning $394M IPO in India
Sembcorp Industries Ltd, a Singapore-based firm backed by Temasek Holdings, is planning an initial public offering (IPO) for its Indian subsidiary, Sembcorp Green Infra Ltd.
Modi government will use AI to detect fraudulent investor claims
The Indian government is gearing up to use artificial intelligence (AI) technology to detect fraudulent claims made by investors for unclaimed shares, dividends, and matured deposits.
Sensex up 330 points from today's low: What's the reason?
The benchmark indices, Sensex and Nifty, have staged a strong recovery after an early morning slump today.
New LPG rules from November: What consumers need to know
From November 1, new rules for LPG cylinder bookings will come into effect.
Coca-Cola's Indian bottling arm to file IPO papers this week
Hindustan Coca-Cola Holdings (HCCH), the Indian bottling arm of The Coca-Cola Company, is likely to file its draft red herring prospectus (DRHP) with the market regulator this week, according to Moneycontrol.
Central Bank says all accounts safe after ₹14cr fraud reports
The Central Bank of India has assured its customers that their accounts are safe, following reports of unauthorized transactions worth ₹13.97 crore.
India's 1st cooperative sector airline to come up in Kerala
The Kerala government has approved the establishment of an airline by the cooperative sector, Chief Minister V D Satheesan has announced.
Record-breaking IPO of Jio Platforms not lucrative enough for bankers
Jio Platforms, the digital and telecom giant owned by billionaire Mukesh Ambani, has raised a record amount of funds through its initial public offering (IPO).
GST changes from November 1: How they will affect businesses
The Goods and Services Tax (GST) system is all set to witness compliance-related changes from November 1, 2026.
Anthropic sued for using Elvis Presley's music to train AI
Authentic Brands Group, the licensing organization that owns both Elvis Presley's music and likeness, is suing artificial intelligence (AI) company Anthropic.
District might set up dedicated live-event venues in India
Eternal's District is considering investments in dedicated live-event venues.
SoftBank to invest $50B in Malaysia's AI push
SoftBank Group is planning to invest a whopping $50 billion in Malaysia, as part of the country's ambition to become an "AI nation" by 2030.
Jio Platforms IPO allotment today: How to check status online
The initial public offering (IPO) allotment of Jio Platforms is set to take place today.
Why Saudi Arabia plans to store crude oil in Singapore
Saudi Arabia has revealed plans to store crude oil at Singapore's Jurong Rock Caverns from the second half of 2027.
Why India's interim trade deal with US remains stuck
The much-anticipated interim trade deal between India and the US remains stalled.