Business

New Delhi: Troubled industrialist Anil Ambani, once counted among India’s wealthiest businessmen, is facing renewed legal challenges despite receiving interim relief from the Bombay High Court last month. Three banks have filed an appeal against the order, intensifying scrutiny over his financial dealings. Background of the CaseLast month, a single bench of the Bombay High Court restrained banks from taking action against Ambani’s accounts based on a 2020 Forensic Audit Report (FAR). The court had agreed that the FAR 2020 report violated the Reserve Bank of India’s (RBI) 2024 Master Direction on “Fraud Risk Management in Commercial Banks.” This interim relief prevented the banks from acting on the audit findings while the matter is under review. Banks Seek Urgent ReviewIn the appeal,...

New Delhi: Positive developments are underway on the India-US trade front as both countries resume discussions starting today. Sergio Gore, the newly appointed US Ambassador to India, confirmed on Monday that negotiations over the proposed trade agreement will restart, sparking optimism in Indian equity markets. The Sensex recovered from a 700-point intraday drop to close 300 points higher, signaling investor confidence in the potential deal. A Strategic Partnership Beyond TradeUpon arriving in New Delhi, Ambassador Gore adopted a constructive tone, describing India-US relations as one of the most important global partnerships of this century. While the Trump administration has expressed concerns over delays in finalizing the agreement, Gore emphasized that the bilateral relationship go...

New Delhi: The Initial Public Offering (IPO) of Bharat Coking Coal Limited (BCCL), a subsidiary of Coal India, has generated tremendous investor enthusiasm. Within just two days, the IPO has been oversubscribed 33.6 times, with retail and non-institutional investors showing exceptional interest. Today marks the final day for public subscription. The ₹1,071 crore IPO saw a massive response from investors across categories. According to NSE data, while 34,69,46,500 shares were on offer, the total bids received amounted to a staggering 11,65,79,29,200 shares. Breaking down the subscription: Non-Institutional Investors: 96.17 times Retail Individual Investors: 26.90 times Qualified Institutional Buyers (QIBs): 1.44 times The IPO was fully subscribed within minutes of openin...

New Delhi: Manas Ranjan Das of Cuttack, Odisha, is a living testament to perseverance, innovation, and unwavering determination. Despite battling Ankylosing Spondylitis—a condition that severely restricts neck movement—Manas turned his small mushroom farming venture into a thriving business, generating an annual turnover of ₹24 lakh, and inspiring hundreds of farmers across rural Odisha. Early StrugglesAfter graduating in 2000, Manas began his career as a salesman at a mobile phone store, earning a mere ₹600 per month. Over the years, he undertook multiple jobs to sustain himself. In 2016, he joined Sai Kripa College in Dhenkanal with a monthly salary of ₹10,000. During this period, he met four successful mushroom farmers from Mukutpasi village, whose guidance inspired him to explore mu...

New Delhi: Investor confidence returned to the Indian stock market around 1 PM on Monday after the new US Ambassador to India, Sergio Gore, spoke about the ongoing trade negotiations between India and the United States. The BSE Sensex, which had fallen over 700 points earlier in the day, rebounded by more than 30 points by 1:10 PM. Similarly, the Nifty 50 rose by over 35 points, reflecting renewed optimism among market participants. Ambassador Gore Signals Continuation of Talks After assuming his post in Delhi on Monday, Gore indicated that active trade discussions between India and the US are ongoing. He confirmed that the next round of negotiations is expected tomorrow, January 13, emphasizing that despite differences over tariffs and market access, both countries remain in continu...

New Delhi: The US stance on a trade deal with India appears to be softening, signaling positive developments for the ongoing negotiations between the two countries. According to Sergio Gore, the newly appointed US Ambassador to India, the next round of trade discussions is expected to begin on January 13. Gore, who took charge on Monday, emphasized that the relationship between India and the US is based on genuine friendship. Friendship Over Differences Ambassador Gore highlighted that “true friends may disagree, but they resolve their differences.” He described the ongoing trade talks as part of the strong trust-based relationship between Prime Minister Narendra Modi and US President Donald Trump. Despite existing differences over tariffs and market access, both sides are maintainin...

Investors in cryptocurrency will now face stricter verification requirements, as India’s Financial Intelligence Unit (FIU) tightens regulations on crypto platforms. The move is aimed at preventing money laundering, illegal transactions, and financing of terrorism, under the country’s Anti-Money Laundering (AML) and Know Your Customer (KYC) framework. New Guidelines for Crypto Platforms On January 8, the FIU issued updated directives, classifying crypto exchanges as Virtual Digital Asset (VDA) service providers. This means that platforms can no longer rely solely on document uploads. They must now perform live verification of customer identities and locations before allowing transactions. All reporting entities (REs) are required to adopt robust Client Due Diligence (CDD) procedure...

Iran has been facing widespread protests over the past few weeks, with reports suggesting that over 500 demonstrators have been killed during government crackdowns. At the same time, the country is under the looming threat of U.S. military action, raising serious concerns about its fragile economy. Currency Collapse and Inflation Iran’s primary source of revenue is crude oil, yet Western sanctions have severely restricted its ability to sell abroad. The Iranian rial has plummeted dramatically; while one Indian rupee equals around 11,000 rials, the U.S. dollar is now valued at 1.4 million rials. In comparison, during the 1979 Islamic Revolution, $1 was worth roughly 70 rials, marking a staggering 20,000-fold depreciation of the currency over the decades. Protests have been fueled b...

The Indian stock market continued its downward slide on Monday, extending last week’s losing streak. During early trading, the BSE Sensex dropped over 700 points, while the NSE Nifty 50 fell below 25,550. Heavy losses were seen in major stocks including Reliance Industries and ICICI Bank. By 12:00 PM, the Sensex was trading at 82,953.36, down 622.88 points (0.75%), and the Nifty stood at 25,513.50, down 169.80 points (0.88%). Last week, the Sensex fell nearly 2,200 points, while the Nifty declined 2.5%. Major Movers Shares of Larsen & Toubro, Power Grid, Reliance Industries, Adani Ports, Etronics, BEL, Bharti Airtel, Infosys, Ultratech Cement, ICICI Bank, Tech Mahindra, Bajaj Finserv, and IndiGo witnessed the sharpest declines. On the upside, Hindustan Unilever, ITC, and Axis ...

The Indian stock market continued its downward slide on Monday, with both BSE Sensex and NSE Nifty 50 opening lower. Over the past six trading sessions, investors have seen a staggering ₹17 lakh crore wiped out from the markets amid domestic and global uncertainties. On Monday morning, the Sensex fell over 500 points, touching an intraday low of 83,043, while the Nifty 50 slipped more than 140 points below the 25,550 mark. The Sensex had peaked at 85,762.01 on January 2, 2026, meaning it has dropped more than 2,718 points since then. Over the same period, the Nifty declined by approximately 3%, settling at 25,529.05. Analysts said this downturn followed the worst week for the market in three months, with investor sentiment further shaken by the lack of clarity from the U.S. Supreme Cour...