Business & Economy

Mumbai: Ambuja Cements Ltd, the cement-making arm of the Gautam Adani-led Adani Group, reported a steep decline in its profit for the third quarter of the current financial year, even as revenue grew. Meanwhile, security services provider SIS Limited (SIS Ltd) recorded a net loss in the same period. Ambuja Cements Profit Falls SharplyAmbuja Cements posted a net profit of ₹204 crore for the December quarter, down 91% from ₹2,158 crore in the same quarter last year. Compared to the previous quarter (September 2025), profit also fell by 88% from ₹1,766 crore. Despite this, the company’s revenue rose 20% year-on-year to ₹10,181 crore, up from ₹8,498 crore in Q3 last year. Quarter-on-quarter, revenue grew by 12% from ₹9,130 crore in Q2. Improved Operational MetricsLooking at profit on a d...

Mumbai: Ahead of the Union Budget 2026, Indian stock markets witnessed a decline on Friday, with the BSE Sensex falling 296.59 points (0.36%) and the NSE Nifty 50 dropping 98.25 points (0.39%) to close at 25,320.65. However, investors need not worry: the markets will remain open on Sunday, 1 February 2026, the day the budget is presented, offering a rare opportunity for trading on a weekend. Sunday Trading for Budget 2026Finance Minister Nirmala Sitharaman is scheduled to present the Union Budget 2026 on Sunday, 1 February. In light of this, both BSE and NSE will conduct normal trading sessions throughout the day. This special session will also include F&O (Futures & Options) and commodity derivatives trading, allowing investors to actively respond to the budget announcements...

New Delhi: Friday proved to be a turbulent day for precious metals, with silver and gold prices crashing sharply on the Multi Commodity Exchange (MCX). By 3:30 PM, silver had fallen nearly ₹60,000, while gold dropped over ₹14,000. The Scale of the DeclineSilver plunged roughly 15%, trading at ₹3,39,910 per kg, whereas gold fell about 9%, dropping to ₹1,55,000 per 10 grams. This historic correction followed a record-setting rally in January, during which silver surged 56%—its strongest monthly gain on record—and gold rose over 20% against the US dollar, marking its highest monthly increase since 1980. Previous Day’s Record HighsThe dramatic fall came just a day after silver hit a historic peak of ₹4,20,048 per kg and gold reached ₹1,80,779 per 10 grams. The global markets reflected th...

New Delhi: While gold and silver prices saw a sharp fall on Friday globally, recent trends show that silver has been on a strong upward trajectory. Surprisingly, the most expensive silver in the world is not in India or the US—it’s in China, where high demand has pushed prices significantly above the global average. Silver Prices in China vs. the WorldExcluding Friday’s drop, silver was trading at approximately $109 per ounce worldwide on Thursday. In China, however, the price surged to around $125 per ounce, creating a difference of $16 (around ₹1,471) per ounce between China and the rest of the world. Since 1 kilogram contains about 35 ounces, this translates into an extra ₹51,000 per kilogram in China compared to global markets. Why Is Silver So Expensive in China?China accounts f...

New Delhi: The stock market experienced a sharp decline on Friday, with the Sensex falling over 600 points during early trading. The Nifty 50 also saw a significant drop, and within the first 15 minutes, investors lost nearly ₹4 lakh crore. While many stocks traded in the red, a few delivered substantial gains and hit the upper circuit—most notably Paras Petrofils Ltd, a penny stock. Paras Petrofils Hits Upper CircuitParas Petrofils’ stock surged to ₹2.70, hitting the 20% upper circuit mark. This means a share trading below ₹3 delivered impressive returns even as the broader market fell. The stock has been trending upward in recent sessions, though it has historically not been a strong long-term performer. One-Month GainsIn just one month, the stock has given investors over 50% retur...

New Delhi: Since India gained independence in 1947, presenting the annual budget has been a key tradition. This year, the budget will be presented on 1st February, which falls on a Sunday. Union Finance Minister Nirmala Sitharaman will unveil it in Parliament at 11 AM. Over the years, certain budgets have stood out for their transformative impact on India’s economy. Let’s take a look at some of these historic budgets. Budget 1947India’s first budget after independence was presented by Finance Minister R.K. Shanmukham Chetty on 26th November 1947, covering the period from 15th August 1947 to 31st March 1948. At that time, India faced the huge challenge of rehabilitating refugees from East and West Pakistan. Despite limited resources, the budget provided measures to address this urgent is...

New Delhi: Next month, several days have been designated as bank holidays across India. If you plan to visit a bank in February, it is advisable to check the holiday schedule in your state in advance. Bank Holidays in February 2026February, being the shortest month of the year, has comparatively fewer holidays. Bank holidays are determined by individual states and are often linked to specific festivals or regional events. The Reserve Bank of India (RBI) releases a monthly list of bank holidays state-wise. Key Bank Holidays in February 2026 February 15: Maha Shivratri coincides with a Sunday this year. Banks will remain closed in Delhi, Uttar Pradesh, Bihar, Maharashtra, Karnataka, Tamil Nadu, Andhra Pradesh, and other states. February 18: In Sikkim, banks will be closed on acc...

New Delhi: The cryptocurrency market witnessed significant volatility on Friday, as a sharp crash shook global investors. Over the past 24 hours, the crypto market capitalization fell by more than 5%, resulting in massive losses for investors. Bitcoin, Ethereum, and several other major cryptocurrencies dropped over 6%, wiping out approximately ₹16 lakh crore (₹16,000,000,000,000) from investors’ portfolios. At around 10:30 AM, the total crypto market capitalization stood at $2.82 trillion, reflecting a 5.42% decline. The impact was visible across major cryptocurrencies: Bitcoin fell nearly 6%, trading at $82,835, marking a decline of over 7% in the past week. Ethereum slipped over 6% in 24 hours, trading around $2,740. Other major coins like Binance Coin, Ripple, and Solana al...

New Delhi: With prices skyrocketing across the board, everyone—from salaried employees to self-employed individuals—is feeling the pinch of inflation. Household essentials have become costly, rent has surged, and even commuting expenses, such as auto or tempo fares, have risen significantly. Yet, most people’s incomes have not kept pace. So, what can one do? The Common Approach: Tightening the BeltIt is often observed that when salaries fail to keep up with inflation, people start cutting down on expenses. Aside from staples like rice and lentils, discretionary spending is reduced. Daily milk consumption may drop from two liters to one, and use of items like cooking oil or soap is minimized. But This Strategy Doesn’t WorkAccording to Chartered Accountant Nitin Kaushik, simply cutting...