Business

New Delhi: India is on track to achieve another significant milestone in its economic journey. According to a report by SBI Research, the country is expected to enter the upper-middle-income group by 2030, joining nations like China and Indonesia. By this timeline, India’s per capita income is projected to reach $4,000, reflecting a major shift in the nation’s income profile. The report further highlights that India is likely to become the world’s third-largest economy by 2028, a feat underpinned by strong economic policies and robust growth potential. Global Income Classification The World Bank classifies countries into four income groups based on per capita Gross National Income (GNI): Low income Lower-middle income Upper-middle income High income In 1990, out o...

New Delhi: Silver prices in the national capital have witnessed a sharp rally, crossing the ₹3 lakh per kilogram mark for the first time. This marks the seventh consecutive session of gains for the white metal. Gold prices also surged to a record ₹1.48 lakh per 10 grams, reflecting strong demand both domestically and globally. On Monday, silver traded at ₹3,02,600 per kilogram, up ₹10,000 from Friday’s closing of ₹2,92,600. The sharp rise was driven by robust investor interest and positive global trends. Similarly, gold prices rose by ₹1,900 to ₹1,48,100 per 10 grams, compared to Friday’s ₹1,46,200. Week-long Silver Rally DateDaily Rise (₹)Closing Price (₹/kg)Fri, 9 Jan6,5002,50,000Mon, 12 Jan15,0002,65,000Tue, 13 Jan6,0002,71,000Wed, 14 Jan15,0002,86,000Thu, 15 Jan3,0002,89,000Fr...

Gold and silver prices witnessed a sharp surge on Monday, with silver crossing the historic ₹3 lakh mark per kilogram, while gold also jumped significantly. Silver Hits Record HighOn the MCX, March delivery silver gained over ₹12,000 early in the morning, surpassing ₹3 lakh per kilogram for the first time. Meanwhile, February delivery gold jumped more than ₹2,000, taking the price above ₹1.44 lakh per 10 grams. Silver’s performance has notably outpaced gold in recent weeks, delivering higher gains to investors. On the international market, gold was trading at $4,672.50 per ounce, while silver stood at $94.065 per ounce. Analysts note that increased uncertainty following U.S. government decisions regarding Greenland contributed to the market volatility. Why Prices Are RisingExperts...

Shares of Bharat Coking Coal Limited (BCCL) made a stellar debut on the stock market on Monday, delivering nearly 100% gains to investors on the very first day. Impressive Listing PerformanceBCCL, a subsidiary of Coal India Limited headquartered in Dhanbad, Jharkhand, saw its shares list at ₹45 on the NSE, marking a 95.6% premium over the issue price of ₹23. On the BSE, the shares listed at ₹45.21, reflecting a 96.6% increase. This IPO, worth ₹1,071 crore, was offered entirely through Offer for Sale (OFS) by Coal India and received overwhelming support from investors. Massive OversubscriptionThe BCCL IPO was 147 times oversubscribed, indicating strong demand across all categories — institutional, non-institutional, and retail investors. Before listing, BCCL was valued at ₹10,711 cror...

The Indian stock market opened sharply lower on Monday, with both the Sensex and Nifty 50 recording significant losses. Early trading saw the BSE Sensex fall over 600 points to around 82,900, while the NSE Nifty 50 dropped more than 175 points to about 25,519, triggering concern among investors. Key MoversAmong the 30 Sensex stocks, ICICI Bank, Reliance Industries, Mahindra & Mahindra, Bharti Airtel, and Sun Pharma witnessed the steepest declines, dropping between 1% and 3%. Reliance Industries shares slid 2.6% after the company reported a marginal 0.56% increase in consolidated net profit, totaling ₹18,645 crore for Q3. ICICI Bank shares fell nearly 3% as its Q3 consolidated net profit declined 4.02% year-on-year, missing market expectations. Expert InsightsDr. V. K. Vij...

Reliance Industries’ two major consumer businesses—Quick Commerce and FMCG—have started generating profits, a significant milestone considering their relatively recent launches. According to the Economic Times, Reliance’s large-scale procurement capabilities and focus on high-margin products have contributed to this success. In contrast, competitors Blinkit and Swiggy are yet to achieve overall profitability. Profitability MilestonesSenior executives at Reliance shared the Q3 results on Friday, revealing that the Quick Commerce business is now profitable on nearly every order, meaning revenue exceeds operational costs per order. The Quick Commerce unit was launched in October 2024, while the FMCG business, started three years ago, has recently turned EBITDA-positive, though exact financ...

Travelers planning to book the Vande Bharat Sleeper trains should be aware of the new cancellation rules, which are stricter than those for regular trains. Confirmed tickets for these trains will incur high cancellation charges, and after a certain deadline, no refund will be issued. Cancellation RulesAccording to the Times of India, cancellation of a confirmed Vande Bharat Sleeper ticket at any time will result in a minimum 25% deduction from the ticket fare. If the ticket is canceled 72 to 8 hours before the train’s departure, 50% of the fare will be deducted. If canceled less than 8 hours before departure, no refund will be provided. This rule aligns with the new practice of preparing the reservation chart 8 hours before departure, compared to the earlier 4-hour window. ...

The Delhi Development Authority’s (DDA) Jan Sadharan Awas Yojana 2025 has emerged as a massive hit, with all 679 affordable flats booked on the very first day of the third phase of the scheme. Details of the SchemeThe bookings for the third phase began on 15 January, covering flats in multiple locations: Narela A-1 to A-4 blocks – 496 flats Narela G-7/S – 130 flats Rohini – 50 flats Nasirpur – 3 flats The flats were priced at ₹9.18 lakh with a 15% introductory discount, making them highly attractive for homebuyers. According to DDA officials, the scheme is expected to generate approximately ₹86.81 crore in revenue. The overwhelming response reflects strong public confidence in the DDA’s affordable housing initiatives. Narela, in particular, has now emerged as a key r...

Keerthi Priya, an IIM graduate, gave up a promising corporate career to start a business that today boasts a turnover of ₹1 crore. Her company, Koh Foods, sells healthy vegetable powders and mixes, and was founded in 2022 in Telangana with a vision to provide 100% natural nutrition to busy urban households. Addressing Modern Health ChallengesIn today’s fast-paced urban lifestyle, poor dietary habits have contributed to rising health issues like diabetes and hypertension. Observing that people often skip nutritious meals in favor of fast food, Keerthi Priya decided to offer a simple solution. Using homemade dehydrated vegetable powders sent by her mother, she created a commercially viable product line that combines convenience with nutrition. Humble BeginningsKeerthi hails from a smal...

Market OverviewAfter two sessions of decline, the domestic stock markets witnessed a rebound last Friday. Both benchmark indices closed in the green, driven by selective buying in major companies amid global uncertainties. The BSE Sensex rose 187.64 points (0.23%) to close at 83,570.35, while the NSE Nifty 50 gained 28.75 points (0.11%) to finish at 25,694.35. During intraday trading, Sensex surged as much as 752.26 points to touch 84,134.97. Top Gainers and MoversAmong Sensex constituents, Infosys led the rally with a 5.67% jump, providing support to the broader market. Other major gainers included Tech Mahindra, HCL Tech, State Bank of India, UltraTech Cement, and HDFC Bank. On the flip side, shares of Eternal, Asian Paints, Bharat Electronics, Sun Pharma, and Maruti Suzuki recorded l...