Business

New Delhi: N. Chandrasekaran, the Chairman of Tata Sons, is likely to be granted a third term, with the company preparing to propose the extension at an upcoming Extraordinary General Meeting (EGM) next week. If approved, this move would be an exception to Tata Sons’ retirement policy, similar to the waiver granted to Ratan Tata in 2016 when he succeeded Cyrus Mistry as Chairman. Chandrasekaran will turn 63 in June, and the proposed extension would allow him to continue beyond the standard retirement age of 65 in a non-executive capacity. His current second term still has a year to run. Approval Backed by Tata TrustsLast October, Tata Trusts, the majority shareholder of Tata Sons, had passed a proposal supporting Chandrasekaran’s reappointment. Sources indicate that TCS top managemen...

New Delhi: The name Sabyasachi Mukherjee is now synonymous with luxury, heritage, and exquisite craftsmanship in the fashion world. But the journey to building this iconic brand was far from easy. From personal struggles and financial hardships to moments of deep despair, Sabyasachi’s story is a testament to resilience, creativity, and determination. Humble BeginningsBorn in 1974 in Kolkata to a middle-class family, Sabyasachi’s father was a refugee from Bangladesh. The family faced significant financial challenges after the decline of the jute industry and the growing use of plastic. These struggles shaped Sabyasachi’s character, creativity, and future ambitions, leaving a lasting impact on his childhood. A Difficult Education and Inner StrugglesFrom a young age, Sabyasachi was intr...

New Delhi: On Wednesday, the Indian stock market closed in the green, driven by broad-based buying and optimism around artificial intelligence. The BSE Sensex rose 283.29 points (0.34%) to close at 83,734.25, while the NSE Nifty gained 93.95 points (0.37%), ending at 25,819.35. The market opened flat with minor gains but slipped in early trade, briefly breaking a two-day rally. However, it recovered strongly later, finishing the day on a positive note. Most Nifty indices closed higher, except Nifty IT, which ended in the red. Sector Performance Nifty Midcap 100 Index: +0.50% Nifty Smallcap 100 Index: +0.54% Nifty Metal Index: +1.33% Nifty PSU Bank Index: +1.30% Nifty FMCG Index: +1.20% Nifty IT Index: -1.23% Top Gainers and LosersShares of Tata Steel, ITC, Axis...

New Delhi: Cryptocurrency investors are facing a challenging period, with major coins like Bitcoin struggling to maintain value. However, some digital assets have shown impressive gains in recent days, and Pi Network Coin is leading the charge. Over the past seven days, Pi Network has delivered more than 40% returns, surpassing Bitcoin, which has shown minimal movement of less than 1% during the same period. Current Market Snapshot As of Wednesday night, Bitcoin was trading around $67,000, up approximately 0.70% in the last 24 hours. Pi Network Coin was priced at $0.1876, reflecting a 42% gain in the past 24 hours.According to CoinMarketCap, Pi Network posted the highest seven-day returns among the top 100 cryptocurrencies. Still Far From Its PeakDespite the recent surge, ...

New Delhi: Passengers planning air travel, take note. The Directorate General of Civil Aviation (DGCA) has introduced strict new rules under a “Zero Tolerance Policy” for unruly behavior onboard flights. Anyone found misbehaving, particularly under the influence of alcohol or drugs, could face a lifetime ban from flying. The policy aims to ensure the safety of passengers, crew, and aircraft, while maintaining discipline and a positive environment during flights. The DGCA has prepared a draft framework outlining how airlines should deal with such passengers. Procedures Across AirlinesDGCA Chief Faiz Ahmed Kidwai has proposed that airlines must establish clear procedures to handle unruly passengers both onboard and at airports. Standard Operating Procedures (SOPs) will need to be imple...

New Delhi: India’s most ambitious oil refinery project, planned in Ratnagiri, Maharashtra, is now facing serious hurdles. Originally slated to begin operations four years ago, the project has yet to secure land acquisition, and recent developments indicate potential withdrawal of foreign investors. Foreign Investors HesitateAccording to sources cited by Economic Times, the Abu Dhabi National Oil Company (Adnoc) has reportedly exited the project, while Saudi Aramco is seeking a review of the terms before committing. The refinery, envisioned as a joint venture between Aramco, Adnoc, and India’s state-owned oil giants—Indian Oil Corporation (IOC), Hindustan Petroleum Corporation Limited (HPCL), and Bharat Petroleum Corporation Limited (BPCL)—was planned to have 50% ownership by the foreign...

New Delhi: US President Donald Trump recently signed trade deals with several countries, including India, reducing tariffs to promote trade. However, these tariff cuts are coming at a steep cost for partner nations, which are now being required to make significant investments in the United States. Japan First in LineJapan is the first country affected by this strategy. According to a Reuters report, the US secured an agreement requiring Japan to invest $550 billion in American projects as part of the trade deal. On Tuesday, the Trump administration announced that Japan will finance $36 billion across three projects in the US: Oil export facility in Texas Industrial diamond plant in Georgia Natural gas power plant in Ohio The trade deal reduced tariffs on Japanese goods to ...

Mumbai: In a significant development, Adani Ports and Special Economic Zone Ltd (APSEZ) has signed a Memorandum of Understanding (MoU) with Port of Marseille Fos, the largest port in France. The agreement aims to streamline trade, introduce new technologies at ports, and strengthen cooperation in the energy sector. IMEC Ports Club ProposalAs part of this partnership, APSEZ has proposed the creation of an “IMEC Ports Club” to enhance coordination among key ports along the India-Middle East-Europe Corridor (IMEC). This initiative is expected to boost connectivity between India and the European Union (EU), facilitating smoother and faster trade. The move complements the recently concluded India-EU Free Trade Agreement (FTA), which Prime Minister Narendra Modi described as the “mother of al...

New Delhi: Amid recent declines in IT stocks, India’s largest institutional investor, Life Insurance Corporation of India (LIC), has made significant purchases in the sector while simultaneously selling off banking shares. LIC’s Portfolio and IT InvestmentsLIC’s portfolio comprises 283 stocks with a total value of ₹17.83 lakh crore. According to Prime Database, during the December quarter, LIC made its largest purchase in TCS, acquiring shares worth ₹3,136 crore. It also invested ₹2,293 crore in HCL Technologies and added Coforge to its holdings. These purchases raised LIC’s IT sector holdings from ₹1.82 lakh crore to ₹2.17 lakh crore, increasing the IT sector’s share in the portfolio from 11.32% to 12.43%, even though IT stocks have dropped about 30% from their peak. Recent developm...

New Delhi: In recent years, the Indian real estate market has seen a significant shift toward premium and luxury housing, while the launch of affordable housing projects has remained minimal. The trend reflects changing buyer preferences and structural challenges in the sector. Post-Pandemic Market DynamicsFollowing the COVID-19 pandemic, buyers have returned to the real estate market, but premium and luxury segments dominate. Affluent buyers are increasingly seeking homes that combine financial investment with lifestyle preferences. In contrast, the role of the lower-middle-class segment remains limited, leading to slower growth in mid-market housing. Decline in Affordable and Mid-Market SalesSales of budget and mid-market homes have slowed in recent years, while demand for premium ...