Business

New Delhi: In a major corporate development, US-based private equity giant Advent International is close to acquiring a significant stake in Whirlpool India, one of India’s leading home appliance manufacturers. According to a report by The Economic Times, the deal has entered its final stage, and an official announcement could come by the end of this year. Initially, several major players — including KKR, TPG, EQT, Bain Capital, Havells, and Reliance Industries — expressed interest in acquiring the company. However, Advent International has now emerged as the frontrunner and is reportedly in the final phase of negotiations with Whirlpool Corporation, the US-based parent company. Advent Eyes 31% Stake, May Go Up to 57% Sources reveal that Advent plans to acquire a 31% stake in Whir...

The United States, under former President Donald Trump—who once labeled India a “dead economy”—is itself teetering on the brink of economic distress. The longest government shutdown in U.S. history has begun to show its severe impact, costing the country an estimated $15 billion every week. Record-Breaking ShutdownThe current shutdown, which began on October 1, has already lasted 38 days, surpassing the previous record of 35 days in 2018-19. Unlike the partial shutdown then, which affected only 10% of federal spending, this shutdown has disrupted the entire federal budget. Bloomberg reports that the ongoing shutdown is now starting to take a heavy toll on multiple sectors of the U.S. economy. Air Travel and Federal Operations Hit HardAccording to the Federal Aviation Administration, ...

The Indian stock market has seen limited movement over the past six months, with Nifty gaining only 5% and Sensex rising by 4%. However, a few select companies have delivered exceptional returns, rewarding their investors handsomely. In this period, four companies recorded gains of up to 298%, drawing significant attention from foreign portfolio investors (FPIs). Top Performers: BGR Energy Systems Ltd – Leading the pack, BGR Energy, which manufactures machinery for the power and petrochemical sectors, delivered a spectacular 298% return in six months. Its stock price surged from ₹101.88 to ₹406. FPI stake in the company increased from 0.01% in June to 0.10% in September. The stock closed at ₹406, up 0.83% on Friday. Soma Textiles & Industries Ltd – Engaged in the cotton busin...

In today’s era, young professionals are becoming increasingly aware of the importance of savings and investments. Many aim to accumulate a substantial corpus for retirement, ideally reaching ₹1 crore by the age of 40. Financial planner Milind Devgaonkar has shared insights on how this ambitious goal can be realistically achieved. Devgaonkar notes that reaching ₹1 crore by 40 is possible only when investors focus on consistent investing rather than chasing high returns. In a recent LinkedIn post, he explained that building a crore-rupee fund by 40 is not easy for most young adults and requires discipline over the long term. “I often hear from clients in their early 30s that they want to become crorepatis by 40,” Devgaonkar said. He added that many give up on investing long before seei...

In a significant development, China has secured a major contract to print high-denomination currency notes for Nepal. The Nepal Rastra Bank (NRB) has awarded the contract to China Banknote Printing and Minting Corporation (CBPMC) for the design, printing, supply, and delivery of ₹1,000 Nepalese notes. According to officials, the project is valued at approximately $16.985 million (around ₹430 million). The Chinese company was selected based on the lowest bid and has a proven track record, having previously printed Nepalese currency in denominations of ₹5, ₹10, ₹100, and ₹500. Bank authorities confirmed that the letter of intent for this large-scale currency printing initiative was issued on Friday, marking another step in strengthening financial cooperation between Nepal and China....

New Delhi: In today’s social media era, flaunting wealth has become a common trend, with many equating display with true prosperity. However, Chartered Accountant Nitin Kaushik challenges this notion, emphasizing that real wealth goes far beyond the balance in your bank account. True Meaning of Wealth According to Kaushik, real wealth is peace of mind. He shared on X (formerly Twitter) that having ₹50 lakh in your bank account means little if you cannot sleep peacefully at night. True wealth, he says, is what gives you calm and security, not just a number in your account. Purpose of Saving and Investing Kaushik explains that saving, budgeting, and investing are not about greed but about achieving freedom. For him, “Financial freedom = mental freedom.” The ultimate purpose of we...

**New Delhi: After 25 years, the Indian stock market is witnessing a historic shift in investment trends. Domestic Institutional Investors (DIIs) have overtaken Foreign Institutional Investors (FIIs) in market participation, marking a significant turning point in the equity landscape. DII Holdings Hit Record HighAccording to the latest September-quarter data, DII holdings in NSE-listed companies have surged to 18.26%, the highest level ever recorded. In contrast, foreign investors’ holdings have dropped to 16.71%, the lowest in 13 years. The crossover between DIIs and FIIs actually occurred in the March quarter, driven by strong domestic inflows. Why the Shift?Siddharth Bhamre, Research Head at Asit C Mehta Intermediates, explained that the widening gap between FII and DII holdings r...