Business

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....

Mumbai: Chemical trading and logistics company A-1 Limited (BSE: 542012) has secured a major order for the supply of industrial urea (automobile grade) worth ₹127.5 crore from Sai Baba Polymer Technologies. Following this announcement, the company’s shares surged and soon hit the upper circuit limit. Share Price Soars A-1 Limited, formerly known as A-1 Acid Limited, closed at ₹2,433.10 yesterday. Today, the stock opened at ₹2,454.70, marking a gain of ₹121.60, and quickly surged to ₹2,554.75, reaching the upper circuit limit of 5%. Order Details According to a regulatory filing with BSE, the order is for the supply of 25,000 tons of industrial urea across the company’s manufacturing centers in India. The total order value, including GST, is ₹150.45 crore, and deliveries will be...

New Labour Codes Reshape Salary Structures Across India The central government has recently implemented four new labour codes aimed at securing employees’ long-term financial interests. These changes will also bring significant adjustments to salary structures nationwide. How the New Labour Laws Impact Salaries Under the new rules, the basic salary must constitute at least 50% of the total Cost to Company (CTC). Previously, basic salary was approximately 35% of CTC, with the remainder going largely into tax-free allowances. This change will reduce take-home pay for employees but increase contributions to Provident Fund (PF), National Pension Scheme (NPS), and gratuity, resulting in higher retirement savings. Expert Insight Sujit Bangar, founder of TaxBuddy, explained in a Li...

The shares of Multi Commodity Exchange (MCX) crossed the ₹10,000 mark for the first time today, marking an all-time high. The stock has shown consistent gains for the third consecutive day, rising nearly 5% during the session. All-Time High PerformanceOn the BSE, MCX shares surged over 3% to ₹10,247, reflecting growing investor interest. The stock has witnessed significant trading activity this week, with nearly 200,000 shares changing hands in the morning session alone. On Tuesday, 300,000 shares were traded, bringing the total volume over two days close to the monthly average of 500,000 shares. Analyst Outlook and Target PriceEarlier this month, UBS raised its target price for MCX to ₹12,000 per share, implying a potential upside of over 20% from current levels. The company reporte...

Bollywood veteran filmmaker Rakesh Roshan and his wife Pinky Roshan have created a stir in Mumbai’s real estate market after purchasing five commercial properties in Andheri East. The combined value of the deal stands at ₹19.68 crore, making it one of the most talked-about celebrity investments of the season. Prime Properties in Andheri East According to real estate marketplace Square Yards, which accessed the registration documents, all five units are located in one of Mumbai’s busiest commercial neighbourhoods. The deal has drawn attention not only because of its size but also because Bollywood celebrities buying premium real estate always sparks public curiosity. What Rakesh Roshan Bought Rakesh Roshan acquired two commercial units, details of which are as follows: First...