Business

New Delhi: Planning to buy a luxury car? A leading chartered accountant has issued a stark warning about the hidden costs of owning one. CA Nitin Kaushik shared on social media platform X that purchasing a ₹50 lakh luxury car is not a lifestyle upgrade—it is a money drain. According to him, the total monthly expenditure on such a car can exceed ₹1 lakh, potentially costing owners millions over time, while the same money could have been invested to generate wealth. The True Cost of a ₹50 Lakh Car Kaushik explained the financial math behind a ₹50 lakh car. The moment it leaves the showroom, it loses nearly 20% of its value. Add to this the costs of EMIs, expensive insurance, and regular maintenance, and the monthly expenditure quickly exceeds ₹1 lakh—amounting to ₹12 lakh a year. He de...

New Delhi: Once primarily known as a major industrial zone near Gurugram, IMT Manesar is rapidly transforming into one of the fastest-growing residential hubs in the Delhi-NCR region. Spanning over 1,750 acres, Manesar hosts more than 400 industrial units, including giants like Hero MotoCorp, Mitsubishi Electric, Maruti Suzuki, and Denso, providing employment to over 100,000 people. The influx of new manufacturing and logistics companies has further fueled this growth. With employment opportunities on the rise, the demand for residential units in Manesar is also increasing. Improved road networks, robust industrial infrastructure, and seamless connectivity to Delhi-NCR make the area highly attractive to both investors and homebuyers. Haryana’s Chief Minister, Naib Singh Saini, has propo...

New Delhi: Despite the market’s ups and downs, several stocks have delivered spectacular returns to investors over the past year. These multibagger stocks have not only beaten expectations but have effectively doubled investors’ money, with one-year returns exceeding 100%. Here are five standout performers across different sectors that have turned into true wealth creators: 1. Force Motors Ltd Force Motors continues to make waves in the stock market. On Wednesday morning, the stock traded at ₹25,260, marking a 30% gain in the past month. Over the last year, the stock has delivered an impressive 270% return, turning an investment of ₹1 lakh into ₹3.70 lakh. 2. India Homes Ltd In the real estate sector, India Homes Ltd has made investors wealthy with a one-year return exceedin...

Mumbai: Himadri Speciality Chemical Ltd, a West Bengal-based specialty chemicals manufacturer, has commenced commercial operations at its newly established Specialty Carbon Black Line in Mahistikri, Hooghly district, with an annual capacity of 70,000 metric tons (MTPA). The announcement immediately boosted the company’s stock performance. Largest Single-Location Facility Worldwide According to the company’s stock market disclosure, this brownfield expansion has increased Himadri’s total carbon black production capacity to 2,50,000 MTPA, including 1,30,000 MTPA of specialty carbon black at the Mahistikri plant. With this milestone, the facility has become the world’s largest single-location specialty carbon black manufacturing plant, marking a significant step in Himadri’s strategic g...

New Delhi: After five consecutive days of declines, IT stocks bounced back today, lifting domestic markets sharply. Early trading saw the BSE Sensex rise over 700 points, while the Nifty 50 gained more than 200 points, adding roughly ₹3 lakh crore to the market capitalization of BSE-listed companies. The previous session had seen heavy losses, with the Sensex falling 1,069 points and the Nifty dropping 288 points. Today, the rally was primarily driven by IT sector gains after a multi-day selloff. Market Performance By 11:30 AM, the Sensex was trading at 82,761.06, up 535.14 points (0.65%), while the Nifty reached 25,616, up 191.35 points (0.75%). Among Sensex constituents, HCL Tech, Tata Steel, and Infosys led the gains, whereas Eternal, SBI, Kotak Mahindra Bank, ITC, and Asian Pa...

Bengaluru: Citizens in Bengaluru are facing an unusual cash crunch as ATMs across the city report severe shortages. Residents are moving from one ATM to another but are often unable to withdraw sufficient cash. Even ₹500 notes, which form the backbone of daily transactions, have become increasingly difficult to find. According to The Economic Times, banks in the city are struggling to meet the surge in demand. While cash is still arriving at banks, the sudden spike in withdrawals has left many ATMs understocked, with only limited cash being dispensed. Rising Cash Withdrawals Bankers report that cash withdrawals from current and overdraft accounts have increased sharply, especially among businesses in construction, property development, and government civic projects, where salaries...

New Delhi: Gold and silver prices witnessed a significant rise today on the MCX. Silver jumped over ₹7,000 per kg, while gold increased by more than ₹1,100 per 10 grams in early trading. Silver Prices Silver for 5 March delivery closed at ₹2,60,744 per kg in the previous session. Today, it opened at ₹2,65,944 and surged to a high of ₹2,67,990 in early trades, marking a gain of over ₹7,246. At 9:30 AM, silver was trading at ₹2,66,353, up ₹5,609. Gold Prices Gold for 2 April delivery closed at ₹1,59,969 per 10 grams in the previous session and opened today at ₹1,60,977. Early trading saw prices climb above ₹1,61,072, up over ₹1,100. By 9:30 AM, gold was trading at ₹1,60,612 per 10 grams, up ₹643. International Trends Globally, gold gained 0.5%, reaching $5,174.76 per ounce....

New Delhi: Retail investors now have a chance to buy shares of Indian Railway Finance Corporation (IRFC) at a discounted price as the government plans a stake sale via the Offer for Sale (OFS) route. IRFC, a Navratna company under the Ministry of Railways, reported a record profit in the last quarter. The OFS will open for non-retail investors on Wednesday, while retail bidding will be allowed on Thursday, according to Arunesh Chawla, Secretary of the Department of Investment and Public Asset Management. The government is offering 2% equity in this sale, with an additional 2% Green Shoe option. The floor price has been set at ₹104 per share, compared to the previous session’s closing of ₹109.40 on the BSE. The stock’s 52-week high and low are ₹148.90 and ₹108.05, respectively. Throug...

New Delhi: The Trump administration has significantly raised tariffs on solar imports from India, imposing an initial duty of 126%. This move comes amid allegations that India provided unfair subsidies to its solar manufacturing sector. According to The Economic Times, the decision is aimed at protecting American manufacturers but could increase the cost of clean energy projects in the United States. The U.S. Department of Commerce has also imposed initial duties ranging from 86% to 143% on solar imports from Indonesia and 81% from Laos. The administration claims these countries have benefited from government subsidies, allowing their solar products to be sold in the U.S. at prices far below domestic producers. The increased tariffs are intended to level the playing field and support U....

New Delhi: The Marwari community in India is widely recognized for its business acumen. Known for quietly building wealth without ostentation, Marwari entrepreneurs have developed investment principles that focus on discipline, patience, and capital preservation. Chartered Accountant Nitin Kaushik highlights seven key traits that underpin this long-standing financial wisdom. 1. Capital Preservation Comes First Unlike most investors chasing high returns, Marwaris prioritize protecting their capital. Before seeking growth, they ask whether their investments can survive a prolonged economic downturn. Emergency funds are untouchable, and business and personal finances are kept strictly separate. Only surplus funds are deployed into riskier ventures—a strategy that acknowledges that losse...