MUMBAI: IndusInd Bank shares plunged 27% on Tuesday to Rs 656, erasing Rs 19,000 crore in market value — the sharpest drop in its history. The fall followed the bank’s disclosure of Rs 2,100 crore derivatives accounting discrepancy, cutting net worth by 2.4%. The stock hit its lowest since Nov 2020, making it Nifty 50’s…
MUMBAI: India is set for a $50 billion consumption and savings boost as the next decadal wage revision for central govt employees and pensioners, due in Jan 2026, will trigger salary hikes for state govt employees and public sector undertakings.According to a report by UBS, the 8th central pay commission pay hike will shape India’s…
MUMBAI: Summer is here, and so is some refreshing news for consumers! In a significant ruling, the Gauhati high court has held that fruit pulp and juice-based carbonated drinks are not just “water or carbonated water alone.” That means they attract a lower Goods and Services Tax (GST)— falling under the lower 12% GST slab…
MUMBAI: Despite recent uncertainties related to global tariff wars and the sharp slide in the two leading Indian indices, global financial major Morgan Stanley has not changed its year-end sensex target of 105,000 points by Dec 2025. Calling India ‘A stock pickers’ market’, Morgan Stanley’s strategists and economists, led by Ridham Desai, said that India’s…
NEW DELHI: Zydus Lifesciences on Tuesday said it has entered into negotiations to acquire a majority stake in France-based Amplitude Surgical, a medtech firm, for 256.8 million euro (around Rs 2,500 crore). The company is in talks with PAI Partners and Amplitude Surgical’s management, and two minority shareholders, for 85.6% of the firm’s stake at…
NEW DELHI: Hong Kong-based Caravel Group Acquire has announced the acquisition of International Maritime Institute, a leading maritime training institute, and is seeking to upgrade the facility in greater Noida to ensure that more Indian seamen get to command ships.India is among the top global suppliers of seamen, next only to the Philippines, and group,…
Retail inflation or Consumer Price Index (CPI) inflation for the month of February eased to a 7-month low of 3.61%. This is well within the Reserve Bank of India (RBI’s) comfort zone and will likely encourage the Monetary Policy Committee (MPC) to cut repo rate in the April review to boost GDP growth.The All India…
MUMBAI: SBI customers were unable to access Unified Payment Interface (UPI) and mobile banking services for more than four hours on Tuesday due to unspecified technical issues. SBI later said the problem had been resolved.UPI platform processes an average of 39.3 crore transactions daily, with 4,500–4,600 occurring every second. The outage began in first half,…
NEW DELHI: With India’s workforce undergoing rapid transformation, organisations are re-imagining employee benefits to meet diverse needs and secure top talent. Companies are increasingly adopting innovative solutions, including flexible health insurance plans, mental health support, and diversity, equity, and inclusion (DEI) initiatives to create a more supportive workplace.Over past five years, there has been a…
Traders work on the floor of the New York Stock Exchange. (File photo) Wall Street ended lower on Tuesday, extending a turbulent period of losses as uncertainty over US President Donald Trump’s tariff policies continued to shake investor confidence.Trump said late in the afternoon that he would “probably” reconsider doubling planned tariffs on Canadian steel…
