Business

New Delhi: From the narrow streets of Jabalpur, Madhya Pradesh to the heights of the Burj Khalifa, Satish Sanpal’s journey is the epitome of rags-to-riches. Today, he is the Chairman of ANAX Holdings, a Dubai-based conglomerate valued at over $3 billion, and a prominent figure in the global business scene. Sanpal has recently come into the spotlight again as Netflix released the trailer for its upcoming reality show, ‘Desi Bling’, which showcases the luxurious lifestyles of wealthy Indians living in Dubai. The show features celebrities like actors Karan Kundra and Tejaswi Prakash, along with business magnates such as Rizwan Sajan, founder of Danube Group, and Satish Sanpal himself. The trailer offers a glimpse into the high-profile Indian community in Dubai, highlighting their opulent h...

New Delhi: Gold and silver prices declined sharply on Tuesday, with both metals opening lower on the MCX. April gold futures fell by over ₹800 per 10 grams shortly after the market opened, while March silver futures dropped more than ₹3,000 per kilogram. Later, silver extended its losses to over ₹5,000, while gold recovered slightly, ending the day with a fall of around ₹480. Previous Gains Reversed A day earlier, both metals had seen gains. Gold had closed at ₹1,58,394 per 10 grams, up ₹328, and March silver had risen ₹125 to ₹2,62,745 per kilogram. In the Delhi Sarafa market, silver had surged over 6% to ₹2.72 lakh per kilogram, while gold rose nearly 1% to ₹1.58 lakh per 10 grams. Trading Insights Manoj Kumar Jain of Prithvi Finmart noted that gold and silver have shown sign...

New Delhi: AAP MP Raghav Chaddha has urged the government to abolish the Long-Term Capital Gains (LTCG) tax on equities, arguing that it would encourage more citizens to invest in the stock market. Chaddha cited several countries, including Switzerland, Singapore, UAE, Hong Kong, New Zealand, Qatar, and Malaysia, where long-term equity gains are largely tax-free. Zero Tax on Long-Term Gains Speaking during the Budget 2026-27 discussion in the Rajya Sabha, Chaddha said removing LTCG would increase the wealth of ordinary investors. It would also incentivize them to invest in equities rather than traditional avenues like gold, silver, or real estate. “The LTCG tax on equities for retail investors should be set to zero,” he said. Warning on Investor Sentiment Chaddha also criticize...

New Delhi: In a strategic move, the United States has signed a trade deal with Bangladesh, reducing tariffs on goods exported to the U.S. from 20% to 19%. More notably, certain textile and apparel shipments made using American cotton or synthetic fibers will now enjoy zero tariffs, giving Bangladesh’s garment sector a major boost. Impact on India’s Textile Industry Just days earlier, the U.S. had concluded a trade deal with India, cutting tariffs on Indian exports by 50% to 18%. However, under the new Bangladesh agreement, zero-duty access for selected textile shipments puts India at a disadvantage. Bangladeshi garments will now reach the U.S. market cheaper than Indian products, potentially shifting American buyers’ preference toward Bangladesh over India. Bangladesh Benefits ...

New Delhi: With the rising number of millionaires and affluent travelers in India, European rail networks are reaping significant benefits. Indian tourists are increasingly opting for train travel across Europe, contributing substantially to revenues for companies like Swiss Travel System and Eurail. Growing Number of Indian Tourists Abroad The trend of overseas travel among Indians is expanding beyond major cities to smaller towns and emerging urban centers. Data from 2025 indicates a notable shift in travel patterns, with Indians exploring not just Southeast Asia but also Europe, Canada, and the United States. India ranks second globally in the purchase of Swiss Travel Passes and fourth for Eurail Passes. According to Rail Europe, about half of the demand from India is for Eurai...

New Delhi: The Employees’ Provident Fund Organisation (EPFO) is set to make it easier for members to access their PF money with the launch of a dedicated mobile app. The app, expected around April, will allow users to instantly withdraw a portion of their PF funds directly into their bank accounts via UPI. Faster and More Convenient Services The new app is part of EPFO’s ongoing efforts to improve digital services and reduce claim settlement timelines. Under this initiative, members will be able to withdraw a significant portion of their PF balance instantly, while a part of the account will remain frozen as per existing rules. Key Features Instant PF Withdrawal via UPI: Members can transfer funds securely using their linked UPI PIN. Passbook Balance Access: The app will al...

New Delhi: Investors looking beyond fixed deposits, stocks, gold, silver, or real estate can now consider municipal bonds as a lucrative option. The recently announced Union Budget has given fresh momentum to India’s emerging municipal bond market, making it an attractive avenue for stable returns. A New Investment Option The budget proposes incentives for cities raising over ₹1,000 crore through municipal bonds, offering a ₹100 crore reward. Smaller bonds, up to ₹200 crore, will continue to receive support under the AMRUT (Atal Mission for Rejuvenation and Urban Transformation) program. The move aims to encourage large urban local bodies to raise funds from capital markets rather than relying heavily on government grants or bank loans, while also keeping smaller municipalities engag...

New Delhi: Fractal Analytics, a pioneer in data analytics and AI solutions, has opened its IPO for subscription, marking a milestone in a remarkable journey that began in 2001 as a modest bedroom startup. The IPO is valued at ₹2,833.90 crore, with a price band of ₹857–900 per share, including an Offer for Sale (OFS) of ₹1,810.40 crore. A Visionary Bet The story traces back to 2001, when Onida Group founder and chairman Gullu Mirchandani invested in the fledgling Fractal Analytics, a company that aimed to revolutionize the data analytics space. Initially, the concept was highly academic and untested—banks were required to share vast amounts of client data to leverage Fractal’s analytics solutions. Despite the skepticism, Mirchandani’s $60,000 (₹15 lakh) bet helped lay the foundation f...

New Delhi: Dalal Street witnessed a continuation of bullish momentum on Monday, with both benchmark indices closing higher. The BSE Sensex rose 485.35 points (0.58%) to 84,065.75, while the NSE Nifty gained 173.60 points (0.68%) to close at 25,867.30. Market Overview Investor optimism surrounding the India-US trade agreement, coupled with strong buying in public sector banks, durable consumer goods, and realty stocks, supported the market. During the session, the Sensex briefly touched a high of 84,314.68, climbing 734.28 points from the previous close. Meanwhile, the Nifty scaled an intraday high of 25,922.25. Among Sensex constituents, SBI, Titan, UltraTech Cement, Tata Steel, Eternal, Bharat Electronics, Kotak Mahindra Bank, Indigo, Trent, Mahindra & Mahindra, Larsen & ...

New Delhi: Clouds of uncertainty have emerged over the future of Nayara Energy’s refinery in Gujarat after US President Donald Trump warned against purchasing crude oil from Russia, threatening to reimpose a 25% additional tariff. The warning has raised questions over the operations of the Vadinar-based refinery, which has majority ownership by Russia’s state-owned energy giant Rosneft. A Strategic Refinery at Stake The Nayara Energy refinery, located in Vadinar, Gujarat, is India’s second-largest single-site refinery with an annual processing capacity of 20 million tons of heavy crude. Prior to US sanctions, it relied heavily on Russian crude oil for operations. Analysts suggest that while Nayara remains an attractive acquisition target, Washington’s hardline stance on Russian oil m...