Business

New Delhi — Who says water-based street snacks can’t become a lucrative business? Ankita Khante and her husband Aman Krishna, both IIT graduates, have turned their love for Indian cuisine into a thriving venture in London, charging nearly ₹6,000 per person for a unique dining experience. Leaving high-paying corporate careers Like many IIT alumni, Ankita initially followed the conventional path, working as a product designer at Samsung in Bengaluru. Aman, originally from Obra, Uttar Pradesh, pursued computer science and studied at IIT Dhanbad and IIIT Hyderabad. After their marriage in 2024, the couple moved to the United Kingdom, where they made a bold decision: leave their well-paying corporate jobs to start a home-based supper club. Ankita, an IIT Guwahati alumna, and Aman had n...

New Delhi — Indian equity markets closed modestly higher on Wednesday, supported by buying in consumer, oil & gas and energy stocks, even as heavy selling in IT counters capped gains. Market participants are now watching a fresh set of stocks that analysts say could remain active in Thursday’s session. The Sensex rose 78.56 points, or 0.09%, to close at 83,817.69, while the Nifty 50 gained 48.45 points, or 0.19%, to settle at 25,776.00. Sectoral performance Sectoral indices showed broad-based strength outside IT. Nifty Consumer Durables climbed 2.66%, Nifty Oil & Gas rose 2.08%, and Nifty Energy advanced 2%. Gains were also seen in commodities, public sector enterprises, infrastructure and consumption stocks. In contrast, Nifty IT fell 5.87%, emerging as the biggest dra...

New Delhi — A sharp selloff in technology stocks rattled Indian markets on Wednesday after US AI startup Anthropic unveiled a powerful new suite of automation tools, reigniting fears that artificial intelligence could disrupt traditional IT business models. The Nifty IT index fell nearly 6%, erasing around ₹2 trillion in market capitalization in a single session. It marked the sector’s steepest decline since the Covid-era crash of March 2020, when the index plunged 9.6%. By the end of trading, the total market value of listed IT firms slipped below ₹29.85 trillion. The decline mirrored a sudden drop in US software stocks after Anthropic announced 11 new plugins designed to automate a wide range of professional tasks. What is Anthropic’s new tool? At the center of the market rea...

New Delhi — Reliance Industries Chairman Mukesh Ambani has cautioned Indian savers against relying solely on gold and silver for wealth creation, arguing that precious metals, while safe, are not the most effective route to long-term economic growth in a fast-expanding economy like India. Speaking at a recent JioBlackRock event, Ambani highlighted the scale of India’s precious metals imports. He noted that the country imported nearly $60 billion worth of gold and $10–15 billion worth of silver last year. Much of that capital, he said, is parked in assets that serve primarily as savings instruments rather than productive investments. “Gold and silver provide security in difficult times,” Ambani suggested, “but they do not directly contribute to economic expansion in the way productive...

New Delhi — Predictions attributed to Bulgarian mystic Baba Vanga, often dubbed the “Nostradamus of the Balkans,” have resurfaced in public debate as volatility in gold and silver prices shakes global financial markets. Baba Vanga, known for a series of widely discussed prophecies about world events and economic upheavals, had reportedly warned of a major global cash crisis and a growing reliance on precious metals. According to accounts of her predictions, gold, silver and copper would emerge as critical stores of value during a period of financial instability. The prophecy of a “cash crash” Supporters of Vanga’s prophecies claim she foresaw a global “cash crash” around 2026, suggesting that paper currencies would lose public trust and that hard assets such as precious metals wou...

New Delhi — Imports of Russian crude into India are continuing through a covert maritime network known as the “shadow fleet,” even as geopolitical pressure mounts over sanctions-linked oil trade. The development comes days after a February 2 trade agreement between India and the United States, under which Washington reportedly urged New Delhi to reduce its purchases of Russian oil and increase imports from the US and Venezuela. US President Donald Trump claimed India had agreed to halt Russian oil purchases, a statement that has not been officially confirmed by Indian authorities. Moscow, too, has said it has received no such directive from New Delhi. India remains a key buyer Following the Russia–Ukraine conflict, India emerged as one of the largest buyers of discounted Russian c...

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...