Business

New Delhi: India’s domestic stock markets soared to all-time highs on Thursday, with the BSE Sensex crossing 86,000 points for the first time and the NSE Nifty50 climbing past 26,300 points. Investor confidence was buoyed by expectations of interest rate cuts in the US and India next month, along with optimism over improving corporate earnings and global geopolitical developments. Market Highlights Sensex: Rose over 400 points to surpass 86,000, breaching its previous all-time high of 85,978.25 points. Nifty50: Reached a fresh record 26,300+, surpassing last year’s September peak of 26,277.35 points. Top Movers: Bajaj Finance, Axis Bank, Larsen & Toubro, Bajaj Finserv, and Asian Paints led the rally, gaining between 0.8% and 1.5%. Midcap & Smallcap: Indices also edg...

New Delhi: Once labeled as India’s underperforming “BIMARU” states, Bihar, Uttar Pradesh, Rajasthan, and Assam are now emerging as engines of the nation’s economic growth. A recent HSBC report highlights that post-pandemic, low-income states are catching up rapidly with wealthier states, marking a new phase of economic convergence. Emerging States Lead Economic Recovery According to the report, the growth pattern of these states differs significantly from the pre-COVID era (FY13–FY19), when richer states expanded faster. This new “growth convergence” is driven by increased income and strategic public capital expenditure (CapEx) rather than population factors. States like Bihar, UP, Rajasthan, and Assam have boosted infrastructure development through higher CapEx, signaling stable ...

Mumbai: Shares of Reliance Infrastructure, a company led by Anil Ambani, surged sharply on Thursday, hitting the upper circuit limit of 5% at ₹165.85 on the BSE. This marks the second consecutive day the stock has been capped at the upper circuit after a prolonged six-day decline. Stock Performance Overview Despite the recent rebound, Reliance Infrastructure’s one-month performance remains weak, with the share price down by approximately 27% over the period. The company’s market capitalization stands at around ₹6,454 crore, with a 52-week high of ₹423.40 and a low of ₹149.16, indicating that the stock is still roughly 60% below its yearly peak. Valuation and Technical Outlook P/E Ratio: 2.11 P/B Ratio: 0.26 These low multiples suggest the stock may be undervalued but co...

Visakhapatnam, Andhra Pradesh: Following the major data center announcements by tech giants Google and Meta, Reliance Industries is set to make a landmark investment in Andhra Pradesh. Reliance’s joint venture, Digital Connexion, has signed a deal to develop a massive $11 billion data center in Visakhapatnam. Digital Connexion’s Ambitious Plan Digital Connexion, a joint venture of Reliance Industries, Brookfield, and Digital Realty, has inked an MoU with the Andhra Pradesh Economic Development Board (APEDB) to establish a cutting-edge data center campus. The project envisions: A 400-acre campus with 1 gigawatt (GW) data center capacity Investment totaling ₹98,000 crore (~$11 billion) by 2030 State-of-the-art AI-compatible racks, power substations, and connectivity infrastru...

Mumbai, Maharashtra: Kotak Mahindra Bank’s strategic investment in Multi Commodity Exchange of India (MCX) has turned into a massive success story, generating a 1,618% gain over 11 years. The MCX share crossed ₹10,000 for the first time on Wednesday, marking a milestone in India’s commodity market. A Timely Investment During Crisis In 2014, amidst the financial turbulence following the NSEL scam, Kotak Mahindra Bank invested ₹459 crore in MCX, acquiring a 15% stake at ₹600 per share. The investment was made at a time when financial technology firms were forced to sell their holdings. The bank’s promoter, Uday Kotak, who holds 25.7% in Kotak Mahindra Bank, took this bold step, which has now yielded remarkable returns. By March 2022, Kotak Mahindra Bank’s MCX shares were available a...

New Delhi: Adani Enterprises, the flagship company of India’s third-largest industrial group, has opened subscription for its ₹24,930 crore rights issue, offering eligible shareholders shares at a ₹533 discount per share. The issue, one of the largest in the country, will remain open until 10 December 2025. The company is offering 13.85 crore equity shares at ₹1,800 per share. On Tuesday, the stock closed at ₹2,333.70, down 2.71%. This rights issue is open exclusively to eligible shareholders, with promoters currently holding approximately 74% stake in the company. If the subscription is fully subscribed and the call money is received, the total equity post-issue will rise to 129.27 crore shares, up from 115.41 crore shares before the issue. Announced on 11 November, the rights issue...

New Delhi: Despite a market-wide rally following three days of losses, Bharti Airtel, India’s second-largest telecom company and one of the country’s top-valued firms, saw its shares drop over 2% in early trading on Wednesday. The stock fell to ₹2,100 on the BSE from Tuesday’s close of ₹2,160.75. Reason for the Decline The decline is attributed to a block sale by a promoter group entity. Indian Continent Investment, a promoter company, is planning to raise roughly ₹7,200 crore by selling about 3.4 million shares, which represents approximately 0.6% of Bharti Airtel’s total equity. The deal is being managed by Goldman Sachs India. Once the transaction is completed, the promoter group’s total stake in Bharti Airtel will drop slightly below 50%. This is the third instance in six mont...

New Delhi: Wednesday saw a mixed session in the stock market, with the Sensex rising 300 points early in the morning. Despite this overall market strength, certain stocks faced declines, and a few hit the lower circuit limit. Among them was a penny stock, Avance Technologies Ltd, which fell to ₹1 per share and triggered the lower circuit soon after the market opened. Stock Performance Avance Technologies’ stock dropped approximately 5% in early trading on Wednesday, down from ₹1.05 on Tuesday. The stock has experienced high volatility over the past year, with a 52-week high of ₹3.15 and a 52-week low of ₹0.52. Recent Returns Over the past month, Avance Technologies has suffered a sharp decline. Its price fell from ₹2.49 to ₹1, marking a 60% drop, causing significant losses for ...

New Delhi: The cryptocurrency market has been experiencing significant volatility in recent days, with sharp gains and steep declines creating uncertainty among investors. Amid this turbulence, Pi Network has stood out with notable gains, surpassing even Bitcoin in short-term returns. Market Overview On Wednesday, the crypto market saw another downturn. Over the past 24 hours, the total crypto market capitalization fell by 0.85%, reaching $3 trillion at 10:30 AM. Most major cryptocurrencies, including Bitcoin, Ethereum, Binance Coin, and Solana, traded lower during this period. Bitcoin, the world’s most expensive cryptocurrency, continues to struggle below $90,000, marking a 4% decline over the past seven days. Pi Network Outperforms Bitcoin Investors in Pi Network, however, ha...

New Delhi: Outward remittances from India reached a 13-month high in September, driven primarily by spending on travel and lifestyle abroad. According to a report by TOI, under the RBI’s Liberalised Remittance Scheme (LRS), Indians sent nearly $2.8 billion abroad last month—the highest in the past 13 months. This represents a 1% increase compared to $2.76 billion in September 2024 and a 5% rise over $2.6 billion in August 2025. Under LRS, individuals can remit up to $250,000 per financial year with relative ease. Travel Drives the Surge Despite the record, the total remittances from April to September 2025 were slightly lower than last year. Between April and September 2025, total outward remittances amounted to $14.8 billion, compared to $15.6 billion during the same period in 2024....