Business & Economy

Mumbai — At a time when artificial intelligence is reshaping industries across the globe, AI-focused firm Fractal Analytics is preparing to enter India’s primary market with what is being described as the country’s first IPO dedicated entirely to the AI sector. The ₹2,833.9 crore public issue will open for subscription on Monday, February 9, 2026, and close on February 11. The company is expected to list on the BSE and NSE on February 16. Growing investor appetite for AI The IPO arrives amid surging investor interest in AI-driven businesses. Although the issue was initially planned at around ₹4,900 crore, the company reduced the size by nearly 42%, reportedly in view of prevailing market conditions. Market analysts say the timing still aligns well with strong global enthusiasm ...

New Delhi: Millions of private sector employees may face a setback as the Employees’ Provident Fund (EPF) interest rate is likely to be reduced for the financial year 2025-26. The EPFO’s Central Board of Trustees (CBT) is scheduled to meet in the first week of March to review the rate, and sources suggest it may be cut from 8.25% to between 8% and 8.20%. The move aims to manage the shrinking corpus of the fund. How PF Works for Private EmployeesFor private sector workers, EPF is a mandatory government savings scheme. Employees contribute 12% of their basic salary, while the employer matches this contribution. Of the employer’s share, 8.33% goes into the Employees’ Pension Scheme (EPS). The balance accrues interest annually, paid into the subscriber’s EPF account. The EPFO’s Finance, ...

New Delhi: The government has assured that the recent trade deal with the United States safeguards the interests of both countries and will not harm Indian farmers. Speaking in the Lok Sabha amid opposition protests, Commerce Minister Piyush Goyal emphasized that the agreement also takes into account the concerns of the Indian dairy industry. Goyal highlighted that the deal will promote ‘Make in India’ and create new opportunities for small and medium enterprises (SMEs). “After nearly a year of negotiations, an agreement has been reached with the US. This deal will open avenues for SMEs and farmers alike. Its purpose is to boost Make in India, Design in India, and Innovate in India initiatives,” he said. Agriculture and Dairy Protections SecuredThe Commerce Minister added that throug...

New Delhi: After a strong rally on Monday and Tuesday, Indian stock markets saw a sharp downturn on Wednesday, driven largely by heavy losses in IT stocks. Analysts are calling it the worst day in the history of Indian IT stocks, with investors facing an estimated ₹1.9 lakh crore loss. The sell-off was not limited to India; global tech markets also felt the impact. In the US, the Nasdaq fell 1.4%, erasing about $300 billion in market capitalization of software companies. Domestic Market Impact Infosys and Mphasis dropped around 7%. LTI Mindtree, Coforge, TCS, Mphasis, and HCL Tech fell between 5–6%. Wipro and Tech Mahindra declined by roughly 4%. The fall in IT stocks dragged down the Nifty IT Index, reducing the combined market capitalization of IT companies from over ...

New Delhi: Importing gold and silver is set to become more affordable after the government reduced the base import prices of these precious metals. The base price of gold has been lowered by $49 per 10 grams, bringing it to $1,518, while silver sees a reduction of $870 per kilogram, setting it at $2,675 per kilogram. Why This MattersThe Central Board of Indirect Taxes and Customs (CBIC), under the Ministry of Finance, issued a notification stating that the new rates will apply to gold and silver imported under all designated tariff headings. This move comes as international prices of gold and silver approach record highs, easing the customs duty burden on importers. Scope of the Reduction The reduction benefits high-purity gold bars and coins, as well as silver bullion and medall...

New Delhi: Gold and silver continued their upward trend on Wednesday, following a sharp recovery after a three-day decline. Rising geopolitical tensions between the US and Iran and a weaker dollar provided strong support to these precious metals. On the MCX (Multi Commodity Exchange), gold prices jumped by approximately ₹7,000 per 10 grams, while silver surged by ₹16,000 per kilogram in early trading. MCX Rates Today (Early Trade) Gold (April 2 delivery): Previous close at ₹1,53,809 per 10 grams; opened at ₹1,58,420; traded between ₹1,56,553 and ₹1,60,755. As of 10:30 AM, gold was at ₹1,59,638, up ₹5,829 (3.79%). Silver (March 5 delivery): Rose by ₹16,000 to trade at ₹2,82,707 as of 10:30 AM, up ₹14,692. Global Prices Spot gold surged 5.9% intraday to $5,044.74 per oun...

New Delhi: The recent decision by the United States to reduce tariffs on Indian goods from 50% to 18% is expected to provide a major boost to Indian exporters, particularly in the textile, pharmaceutical, and auto parts sectors. Analysts estimate that this move could generate around ₹1,000 crore in trade for Delhi alone. Relief for Exporters After Months of High TariffsFor months, high tariffs had made Indian products expensive in the US, resulting in delayed orders, factory shutdowns, and job losses. The tariff reduction is expected to revive demand, create new employment opportunities, and restore confidence among exporters. CP Sharma, National President of the Handloom & Handicraft Exporters Welfare Association, said, “For the past six months, businesses have been struggling. ...

New Delhi: Finance Minister Nirmala Sitharaman announced an increase in the Securities Transaction Tax (STT) on Futures & Options (F&O) during her budget speech for the financial year 2026-27. The announcement triggered significant volatility in the stock market, with the Sensex falling as much as 3,000 points at one stage. Protecting Small Investors, Not Raising RevenueClarifying the rationale behind the move, Sitharaman stated that the STT hike was not intended to increase government revenue, but rather to protect small investors from substantial losses in speculative F&O trading. Citing a study, she noted that over 90% of retail participants in the F&O market incur heavy losses, highlighting the need for preventive measures to safeguard their interests. Details of ...

New Delhi: Some large companies manage their employees’ provident funds (PF) independently through Exempted Trusts. The recently presented Union Budget proposed reforms for such trusts, aligning their rules with those of the Employees’ Provident Fund Organisation (EPFO). Bringing Private PF Trusts on Par with EPFOUnder the new proposal, the rules governing private PF trusts that enjoy tax exemptions will now be standardized, following EPFO guidelines. This move aims to reduce discrepancies between Income Tax laws and the PF Act, 1952, particularly under Section 17, which previously created confusion for both companies and employees. Earlier, private trusts faced differences in contribution limits, investment norms, and administrative requirements compared to EPFO. Now, recognized PF ...