Business News
No jargons, no mumbo-jumbo. Read the unadulterated Business news here.
Avaada secures nearly $950 million for Bikaner FDRE and solar projects
Avaada Group has achieved financial closure for three large renewable energy projects, securing nearly $950 million in debt sanctions from leading multinational and domestic banks.
Noel Tata tells RBI he opposes listing, citing philanthropy risks
Noel Tata has written to the RBI opposing a potential listing of Tata Sons, citing risks to the philanthropic objectives of Tata Trusts and long-term institutional priorities.
Brendan Lynch leads US trade team to Delhi for talks
A US trade delegation, led by Brendan Lynch, arrives in Delhi today to fast-track an interim deal amid lingering differences on sensitive sectors like agriculture and dairy.
MCX launches Silver 100 futures for everyday investors and jewelers
MCX has introduced Silver 100 futures contracts, enabling retail investors and small jewellers to trade silver in smaller 100-gram units with reduced capital requirements.
India's factory growth hits 3-month high
India's manufacturing sector witnessed the fastest growth in three months in May, owing to strong domestic demand and a spike in new orders.
India enforces June 1, 2026 rule requiring local solar cells
India now mandates domestically manufactured solar cells for certain projects, aiming to boost local production but potentially raising costs and causing supply challenges.
Aadhar Housing Finance aims for ₹50,000 cr AUM by FY29
Aadhar Housing Finance plans to achieve Rs 50,000 crore in assets under management by FY29, driven by 18-20% annual loan growth and strong demand in the affordable housing segment.
Persistent Systems picks up over 90 employees from Estonia's Concise
Shares of Persistent Systems rose nearly 6% after announcing plans to integrate a 90-member Estonian team, enhancing AI-led transformation and European operations.
NMDC records highest ever Q4 FY26 revenue ₹11,173 cr
India’s largest iron ore miner, NMDC, achieved its highest-ever quarterly revenue of ₹11,173 crore in Q4 FY26, with full-year PAT rising 11% to ₹7,421 crore.
Tata Sons board meeting deepens debate over mandatory IPO
Tata Sons Chairman N Chandrasekaran remained non-committal on the potential IPO, while Noel Tata sought clarity on his views during the May 26 board meeting.
Russia bans aviation fuel exports till November 30
Russia has announced a ban on aviation fuel exports until November 30.
CLSA says AI not hurting SaaS revenue or profit forecasts
A CLSA report reveals that AI adoption has not negatively affected the earnings or profitability of software-as-a-service (SaaS) companies, with revenue guidance remaining strong.
How to trace forgotten mutual funds using new government portal
The Ministry of Finance has launched a new awareness initiative called "Your Money, Your Right" to help citizens trace their forgotten or unclaimed financial assets.
Coinbase re-enters India with direct bank-to-crypto transfers
Popular cryptocurrency exchange Coinbase has launched direct Indian rupee (INR) deposit and withdrawal services for retail users in India.
M.R. Maniveni Foods opens 18% below IPO on BSE SME
M.R.Maniveni Foods shares listed at ₹42.55 on the BSE SME platform, marking an 18% discount to its IPO price of ₹52, despite recovering slightly post-listing.
Wockhardt shares climb after FDA approves Zaynich antibiotic for UTIs
Wockhardt shares soared 45% in five sessions following USFDA approval for Zaynich, India's first indigenously discovered antibiotic targeting multidrug-resistant infections.
ZEEL jumps amid talks for 2026 FIFA Indian media rights
Zee Entertainment's shares soared 20% in five sessions, hitting a six-month high, driven by speculation over securing India media rights for the 2026 FIFA World Cup.
UK house prices fall 0.6% in May amid Iran conflict
UK house prices fell 0.6% in May, marking the first drop this year, as rising borrowing costs and weakened consumer confidence impacted demand following the Iran conflict.
India Oman CEPA takes effect to bolster energy and trade
India's trade pact with Oman, effective June 1, ensures a dependable trade route beyond the Strait of Hormuz, leveraging Oman's strategic location for energy and economic security.
Scripbox buys New Delhi's Bluechip Capital to expand advisory services
Bengaluru-based Scripbox has acquired New Delhi's Bluechip Capital, aiming to broaden its client base and enhance wealth advisory services without disclosing financial details.
India-Oman trade deal comes into effect today
India's Comprehensive Economic Partnership Agreement (CEPA) with Oman will come into effect today at 2pm IST.
ConsumerX Ventures launches ₹150cr fund for early stage consumer startups
ConsumerX Ventures has introduced a ₹150 crore SEBI-registered Category II AIF to invest in early-stage, digitally native consumer startups.
Why Noel Tata is holding up Tata Sons chairman's reappointment
The chairman of Tata Trusts, Noel Tata, has reportedly told the board of Tata Sons that there are several unresolved issues.
HCLTech to lose Xerox BPM contract, 170-200 employees at risk
HCLTech is reportedly set to lose a BPM contract with Xerox, potentially affecting 170-200 employees, as Xerox shifts work in-house and to the Philippines.
Zoho's Vembu backs Zerodha's Kamath after court orders Google ₹30L
Zoho CEO Sridhar Vembu criticized Google, calling its business practices unethical after the Delhi High Court ruled against the tech giant in a trademark infringement case.
China's manufacturing sector expands for 6th consecutive month
China's manufacturing sector has expanded for the sixth consecutive month in May, albeit at a slower rate.
India's manufacturing hits 3 month high as May PMI 55.0
India's manufacturing sector grew at its fastest pace in three months during May, driven by strong domestic demand, despite facing near four-year-high cost pressures.
Indian product managers upskill in AI to keep pace
India's product managers face growing pressure to master AI, as leveraging its potential reshapes product lifecycles, decision-making, and cross-functional collaboration.
InterGlobe Aviation posts ₹2,537 cr March quarter loss, shares rally
Shares of IndiGo's parent, InterGlobe Aviation, surged up to 5% despite a Q4 net loss of Rs 2,537 crore, driven by strong operational performance and growth plans.
Berkshire Hathaway buys homebuilder Taylor Morrison for $6.8B
Berkshire Hathaway has announced a major acquisition, agreeing to buy US homebuilder Taylor Morrison Home Corp for $6.8 billion in cash.
India mandates Indian-made solar cells for rooftops to boost manufacturing
New rules mandating domestically manufactured solar cells for rooftop installations may raise costs by around Rs 3,000 per kilowatt, impacting consumers and smaller manufacturers.
Torsten Slok says AI creates roles not job losses
Apollo's chief economist Torsten Sløk argues that cheaper AI technology is driving demand for skilled workers and infrastructure, supporting employment rather than reducing it.
Vodafone Idea campaign criticizes Airtel's 'Priority Postpaid' amid subscriber growth
Vodafone Idea leverages Airtel's "Priority Postpaid" net neutrality debate to position itself as a pro-consumer telecom provider, emphasizing equal network access for all users.
Wall Street watches jobs report, Broadcom earnings amid AI rally
Investors eye U.S. jobs data and Broadcom earnings as inflation concerns and potential Fed rate hikes threaten Wall Street's rally, fueled by AI-driven gains in technology stocks.
Indian stocks slip, FIIs pulled 21,106cr amid US-Iran ceasefire delay
Sensex and Nifty retreated sharply on June 1 amid US-Iran peace deal uncertainty, FII selling due to MSCI rebalancing, and technical resistance at the 23,800 level for Nifty.
Demis Hassabis calls Meta and Amazon layoffs failure of nerve
Google DeepMind CEO Demis Hassabis urges laid-off tech engineers to join his team, emphasizing AI-driven productivity should expand innovation, not shrink workforces.
Oil jumps 2.5% as Israel intensifies attacks on Lebanon
Oil prices surged over 2% in early trading on Monday, after Israel ordered its troops to advance further into Lebanon.
Indian IT stocks rally as Nifty IT climbs over 3%
Indian IT stocks surged today as investors bet on improved US technology spending and potential Federal Reserve rate cuts boosting corporate demand for tech services.
India 10yr yield 7.02% after Israeli strikes amid oil rise
Indian government bond yields edged higher on June 1 as crude oil prices climbed above $93 per barrel, with markets eyeing the RBI's upcoming monetary policy decision.
SoftBank surges past ¥46 trillion to challenge Toyota's Japan lead
SoftBank Group Corp., driven by AI-related gains, is on track to surpass Toyota Motor Corp. as Japan's most valuable company, marking a pivotal shift in investor priorities.
US tariff review pushes copper higher in New York, London
Copper prices rose in New York and London as the US Commerce Department's June 30 deadline for updated tariff recommendations on refined copper looms, fueling market uncertainty.
Ministry of Finance launches free portal to recover unclaimed money
The Ministry of Finance has introduced a unified portal, "Your Money, Your Right," enabling citizens to trace and reclaim unclaimed deposits, insurance policies, and investments.
Commercial LPG prices hiked again
Oil marketing companies have increased the prices of commercial LPG cylinders from today.
Bond yields steady ahead of RBI's June 5 monetary policy
Indian government bonds remain steady as traders anticipate the RBI's June 5 policy decision, with the 10-year yield expected to trade between 6.97% and 7.02%.
NVIDIA CEO Jensen Huang visit lifts Samsung and LG shares
Samsung and LG shares soared as Nvidia CEO Jensen Huang's anticipated meetings with Korean executives fueled optimism for AI and robotics collaborations.
Tomoe Shokai plans Gujarat medical gasses plant in fiscal 2027
Japanese gas trading giant Tomoe Shokai plans to establish a new factory in Gujarat by 2027, focusing on medical treatment gas and semiconductor industry needs.
Nikkei 225 tops 67,000 on SoftBank's €75 billion AI bet
Japan's Nikkei index surpassed 67,000 for the first time, driven by AI-related stocks, as SoftBank overtook Toyota to become the nation's most valuable company.
Anthropic's Dario Amodei warns AI could halve entry-level white-collar jobs
Anthropic CEO Dario Amodei warns AI-driven mass layoffs are inevitable, predicting bipartisan policy responses as technology reshapes white-collar jobs and economic geography.
India Oman CEPA seeks 50% export boost in 3 years
India anticipates a 50% surge in goods exports to Oman within three years as the Comprehensive Economic Partnership Agreement (CEPA) comes into effect today at 2 PM IST.
Indian stock market opens June with 5 IPOs aiming ₹900+cr
The primary market sees a revival with five IPOs worth over Rs 900 crore opening this week, including Rs 770 crore in the mainboard segment after a three-week lull.
Stronger US dollar and surging oil push gold slightly lower
Gold prices edged lower as a stronger dollar and rising oil prices pressured the market, while investors awaited President Trump's decision on extending the Iran ceasefire deal.
Anthropic raises $65 billion Series H, valued at $965 billion
Anthropic has become the world's most valuable startup, surpassing OpenAI with a $965 billion valuation after raising $65 billion in its latest funding round.
RBI transfers record ₹2.87L/cr dividend to government for fiscal 2025-26
The Reserve Bank of India earned a record Rs 4.28 lakh crore in FY26, driven by forex sales and bond investments, while spending Rs 1.41 lakh crore on operations and provisions.
Lupin wins FDA approval for generic Sutab colonoscopy prep
Lupin's stock is in focus after receiving USFDA approval for its generic Sutab tablets, granting the company 180 days of market exclusivity in the US.
Oil rises over 2% as Israel-Hezbollah fighting threatens supplies
Global oil prices climbed over 2% as Israel escalated its offensive in Lebanon, fueling fears of broader conflict and potential disruptions to critical energy supplies.
India-Oman FTA begins June 1, 2026 with exclusions
India's FTA with Oman safeguards 2,789 sensitive tariff lines, including agriculture and manufacturing, while offering 77.79% tariff liberalisation on imports from Oman.
India Oman CEPA begins June 1 with duty free access
The India-Oman Free Trade Agreement offers transformative opportunities for India's farms, factories, and MSMEs by enhancing market access, boosting exports, and creating jobs.
India and US hold talks to secure interim trade deal
India and the US kick off trade discussions in Delhi, focusing on tariffs, market access, AI, pharmaceuticals, and critical minerals to finalize an interim trade agreement.
Indian FMCG firms shift production amid Strait of Hormuz blockage
Indian consumer goods companies are shifting manufacturing to India, Egypt, and Turkey and diversifying export routes to counter supply chain challenges from the Iran conflict.
Noel Tata halts Chandrasekaran reappointment over lack of 5-year plan
Noel Tata highlighted unresolved governance and performance issues, delaying discussions on N Chandrasekaran's reappointment as Tata Sons chairman during the May 26 board meeting.
India's tech openings fall to 93,000 in June 2026
India's tech job market hits a 28-month low with 93,000 active openings in June, driven by AI adoption and US immigration changes reshaping recruitment dynamics.
GIFT City brokers use gap licenses for proprietary trading
Brokers are increasingly using GIFT City's Global Access Provider (GAP) licence for proprietary trading, driven by lower regulatory costs, direct market access, and tax benefits.
Greg Abel's Berkshire to acquire Taylor Morrison for $8.5 billion
Berkshire Hathaway has announced its $8.5 billion all-cash acquisition of Taylor Morrison, marking the conglomerate's first major purchase since Warren Buffett stepped down as CEO.
FDA approves Wockhardt antibiotic Zaynich for complicated urinary tract infections
Wockhardt’s Zaynich, combining cefepime and zidebactam, has secured US FDA approval for treating complicated urinary tract infections, targeting a $9 billion market opportunity.
Bombay High Court orders restraint after HDFC AMC data breach
The Bombay High Court has granted ad-interim relief to HDFC Asset Management Company after a ransomware group allegedly exfiltrated over 680 GB of sensitive data from its systems.
Meta lays off more than 2,400 employees to prioritize AI
Meta has laid off over 2,400 employees across Silicon Valley as the tech industry undergoes massive workforce realignment driven by artificial intelligence advancements.
India's biggest accounting firms use AI to streamline tax work
Major accounting firms in India are leveraging AI to automate routine tax tasks, enhancing efficiency and enabling consultants to focus on complex strategies and interpretations.
IIFCL to sanction ₹75,000cr for infrastructure after SIFTI limits lifted
IIFCL aims to achieve a record ₹75,000 crore in loan sanctions for FY27, leveraging increased flexibility after the removal of SIFTI restrictions by the government.
Indian banks and financial firms jump into AI, scaling lags
Indian BFSI companies are increasingly deploying AI for real-time fraud prevention and decision-making, moving beyond customer service to integrate AI into core operations.
Chile offers copper lithium cobalt to boost India's green goals
Chile, holding vast reserves of copper, lithium, and cobalt, presents India with vital mining opportunities as CEPA negotiations approach conclusion.
Indian refiners adapt to tougher crude as Hormuz nears closure
Indian refiners are adapting to process challenging crude grades as the Iran war disrupts supplies, forcing a shift towards alternative sources and operational adjustments.
Reliance Industries to invest ₹10L crore in AI infrastructure
Reliance Industries Limited (RIL) has announced a massive investment of ₹10 lakh crore in multi-gigawatt-scale AI-ready data centers.
Canada-India trade pact gains momentum at leaders summit
The Western Canada-India Leaders Summit held in Regina, Saskatchewan, has given a major boost to the prospects of a free trade agreement (FTA) between Canada and India.
India-Oman trade pact takes effect tomorrow, granting duty-free export access
India and Oman are set to implement their Comprehensive Economic Partnership Agreement (CEPA) from June 1.
Kevin Warsh urges Fed to reconsider inflation metrics
Federal Reserve Chairman Kevin Warsh has called for a shift in the way inflation is measured, suggesting that the central bank should consider alternative metrics.
RBI may keep repo rate unchanged at upcoming meeting
The Reserve Bank of India (RBI) is likely to keep its key policy rate unchanged at 5.25% during the upcoming bi-monthly monetary policy meeting from June 3-5.
Semiconductor plant in Assam to begin production this fiscal: Vaishnaw
The semiconductor plant at Jagiroad in Assam is likely to start production within the current financial year.
Why trucking in India is slow despite faster expressways
India's huge investment in highways and expressways has not resulted in a proportionate increase in freight movement speed.
Chinese AI firm MiniMax prepares for domestic listing
Shanghai-based artificial intelligence (AI) start-up MiniMax Group Inc. has begun preparations for a domestic listing, according to a regulatory filing.
Anthropic, OpenAI IPOs could fuel growth for Asian tech suppliers
The upcoming wave of stock offerings in the US could be a boon for Asian supply chain companies.
China's factory activity weakens in May
China's manufacturing sector hit a snag in May, with the official Purchasing Managers' Index (PMI) slipping to 50 from April's 50.3.
India, US to hold 4-day trade meet from tomorrow
The chief negotiators of India and the United States will begin a four-day meeting on Monday in New Delhi.
Why EU is planning freeze on Russian oil price cap
The European Union (EU) is mulling a temporary freeze of its price cap on Russian oil, in light of the ongoing Middle East conflict.
Cafe Coffee Day parent swings back to profit in FY26
Coffee Day Global Ltd has announced a profit after tax (PAT) of ₹14 crore for the fiscal year 2025-26 (FY26).
LIC is mulling an entry in India's fintech space
Life Insurance Corporation of India (LIC) is looking to enter the fintech space.
Adani says legal challenges in the US are now over
Billionaire Gautam Adani has announced that the Adani Group has moved past its legal challenges in the United States.
EaseMyTrip's Q4 results: Revenue up 8.9% YoY to ₹152cr
Leading travel platform EaseMyTrip has reported an 8.9% year-on-year growth in its revenue from operations for the fourth quarter of FY26.
Market cap of India's top 7 firms plunges ₹1.54L crore
The combined market capitalization of seven out of India's top 10 most valuable companies fell by ₹1.54 lakh crore last week.
Snap alums launch an investment fund to back AI start-ups
A group of 20 Snap alumni have launched a new investment fund called Ghost Angels.
Government reintroduces windfall tax on fuel exports
The Indian government has reintroduced windfall tax rates on fuel exports, effective from June 1, 2026.
Reliance, NLC explore new project to boost domestic gas supply
NLC India and Reliance Industries have teamed up to explore an underground lignite gasification project in Gujarat.
These 2 IPOs shall open for subscription next week
India's primary market is gearing up for an active week with two public issues, CMR Green Technologies and Hexagon Nutrition, set to open for subscription.
No customs duty on cotton imports till October 31
The Indian government has announced a five-month exemption from customs duty on cotton imports, effective from June 1.
Patanjali Foods' Q4 net profit up 46% YoY to ₹524cr
Patanjali Foods has announced a whopping 46% jump in its consolidated net profit for the March quarter, owing to strong sales of cooking oils and other food items.
Modi government lowers excise duty on petrol, diesel, ATF exports
The Indian government has announced a reduction in the Special Additional Excise Duty (SAED) on exports of diesel, petrol and aviation turbine fuel (ATF).
Uttar Pradesh: Electricity bills to increase by 10% from June
The Uttar Pradesh Power Corporation Limited has announced a 10% increase in electricity bills, effective from June.
India-US trade deal 99% complete, may be signed within weeks
Sergio Gor, the US Ambassador to India, has said that an interim trade deal between the two countries is at the "last 1%."
SpiceJet slapped with ₹125cr GST demand, registration may be canceled
The Goods and Services Tax (GST) Department has issued a tax demand of ₹124.65 crore to budget airline SpiceJet.
Rockstar Games developers form first-ever union
In a historic move, employees at Rockstar Games have announced the formation of their first-ever labor union.
Finance Ministry warns of inflation risks from rising energy prices
India's economy is showing "cautious resilience" amid global uncertainties, but rising energy prices and a potentially weak monsoon could pose inflation risks.
Urgent need to boost semiconductor manufacturing in India: NITI Aayog
NITI Aayog has called for a major push toward self-reliant semiconductor manufacturing in India.
US seizes nearly $1B in Iranian crypto assets
The US has seized nearly $1 billion in Iranian cryptocurrency assets as part of "Operation Economic Fury," US Treasury Secretary Scott Bessent announced.
India becomes 3rd-largest market for Schengen visas
India has emerged as the third-largest market for Schengen visas, with 1.15 million applications in 2025.
Which Schengen countries rejected most visa applications from India (2025)
In 2025, over 181,000 Schengen visa applications from India were rejected, according to data released by the European Commission. This translates to a non-issuance rate of 15.8%.
Foreign investors pull out ₹33,000cr from Indian equities in May
Foreign Portfolio Investors (FPIs) continued their selling spree in Indian equities throughout May 2026, with net outflows of ₹32,963 crore.
Infosys CEO's annual pay rises 2.5% to $8.7M
Infosys CEO Salil Parekh's annual compensation has increased by 2.5% to ₹826 million ($8.69 million) for the fiscal year 2026, as per the company's annual report.
CBI files first chargesheet against Reliance Communications, 15 others
The Central Bureau of Investigation (CBI) has filed its first chargesheet against Reliance Communications Limited and 15 other accused.
IndiGo to raise ticket prices as jet fuel costs soar
IndiGo has announced that it will pass the recent increase in jet fuel prices on to its customers.
SpaceX lands $6.5B in defense contracts as IPO nears
SpaceX has been awarded two major contracts by the US Space Force.
India to add over $2 trillion in wealth by 2030
India is expected to add more than $2 trillion in financial wealth by 2030, a Boston Consulting Group (BCG) Global Wealth Report 2026 has said.
Ola Electric's stock rises 93% since March: What's driving it?
Ola Electric's stock has witnessed a massive surge, rising by 93% since March.
CNN sues Perplexity AI over copyright infringement
CNN has sued artificial intelligence firm Perplexity for allegedly stealing and distributing its content without permission.
Why Airtel's 5G priority postpaid plan is under TRAI scanner
The Telecom Regulatory Authority of India (TRAI) has questioned Bharti Airtel's 5G Priority Postpaid service, a move that has raised net neutrality concerns.
IMD to set up weather station at Noida International Airport
The India Meteorological Department (IMD) will set up a dedicated weather monitoring station at the upcoming Noida International Airport in Jewar.
Why Sensex crashed 1,100 points today
India's benchmark stock market indices, the Sensex and Nifty, witnessed a major crash on Thursday.
Gig workers to get pensions, insurance, and healthcare
The Indian government is set to introduce social security benefits for gig and platform workers.
Vedanta shares hit record high after credit rating upgrade
Vedanta's share price has surged to a new all-time high, following an upgrade in its credit rating by ICRA, a Moody's affiliate.
This start-up offers free apartment cleaning for users' data
A New York-based start-up, Shift, is offering free apartment cleaning services in exchange for data collected inside people's homes.
Why Coffee Day shares surged 20% today
Shares of Coffee Day Enterprises, the parent company of Cafe Coffee Day (CCD), hit the 20% upper circuit limit today to reach ₹34.78 on Nifty.