Market News
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Slumdogs no more: Can tycoons take the Mumbai Model to other cities?
India's top business tycoons like Adani and Ambani are shifting focus from city outskirts to redeveloping Mumbai's older housing and slum areas. This strategic move, driven by scarce and expensive greenfield land, aims to transform decaying urban pockets. Major projects are underway, signaling a new era of large-scale urban regeneration that could serve as a model for cities nationwide.
SBI Securities prefers HDFC Bank, sees long-term upside in metals
Sunny Agarwal, Head Fundamental Research, Retail Desk at SBI Securities, remains positive on private banks, preferring HDFC Bank over Kotak Mahindra Bank after the lender received a clean legal review. He says Persistent Systems' acquisition benefits may take up to eight quarters to materialise, while slower growth remains a near-term concern. Agarwal is also bullish on the metals sector, with Indian Metals & Ferro Alloys as his top pick, and remains positive on Astral over the long term despite near-term challenges.
Adani Group to invest Rs 90,000-Rs 1 lakh crore across airports in next 5 years as Mundra commercial operations take off
Adani Group plans a massive Rs 90,000-1 lakh crore investment in its airports over five years, Jeet Adani revealed. The group will aggressively bid for 11 new airports as the government opens private bidding. This expansion aims to significantly boost India's aviation economy. The launch of commercial flights from Mundra airport, connecting to Mumbai and Goa, marks a key step in transforming the region into a logistics hub.
Hindalco appoints Kapil Agrawal as CEO (Designate) for copper business; Rohit Pathak to move to new role
Hindalco Industries has appointed Kapil Agrawal as CEO (Designate) – Copper with effect from November 1, 2026. He will take over as CEO of the Copper business from March 1, 2027, succeeding Rohit Pathak, who will transition to a new role within the Aditya Birla Group.
Adani Group eyes younger, more diverse and leaner workforce
AI bots are expected to take over many routine and clerical processes, while the group prioritizes the recruitment and promotion of younger professionals and steps up efforts to hire more women.
Arun Misra set to take over as Vedanta group CEO amid demerger push
Hindustan Zinc chief's likely elevation comes as Vedanta lists four demerged entities and reshapes its leadership for the next phase of its restructuring.
New twist in Adani-Hindenburg saga: Five offshore funds take SEBI to SAT, say reports; hearing today
The Securities Appellate Tribunal will hear a challenge from five offshore funds against SEBI's adjudication proceedings initiated after the Hindenburg report. The funds argue they were not informed of SEBI's rationale for the actions taken against them regarding Adani Group investments.
Tesla repositions Model Y in India to take on BMW, Mercedes EVs
Tesla has aggressively cut prices on its Model Y in India, aiming to compete with luxury rivals despite import duties. This strategic move follows a slow market entry, with rising fuel costs now potentially boosting EV adoption. The new Model Y Premium RWD is priced significantly lower, broadening Tesla's appeal to a wider range of premium car buyers.
ONGC yet to take control of Cambay Block as Vedanta challenges govt move
ONGC has not yet taken control of the Cambay basin block CB-OS-02. Vedanta is challenging the government's decision to reject the contract extension. The Delhi High Court has ordered parties to maintain the status quo. Vedanta continues to operate the block pending the court's decision. ONGC remains ready to assume operations.
Numaligarh Refinery signs post-expansion agreement with Progressive Fertichem
Numaligarh Refinery Limited has secured a significant deal. The company will sell 52,500 Metric Tonnes of Sulphur annually to Progressive Fertichem Private Limited. This marks the first commercial agreement post the refinery's expansion project. The deal ensures a long-term off-take for the refinery's Sulphur production. This partnership is expected to boost NRL's revenue and signals readiness for its expanded capacity.
Gautam Adani is overhauling his conglomerate, from Apple-style vendors to less hierarchy and more talent grooming
The ports-to-renewable energy conglomerate is aggressively developing a third-party vendor ecosystem to take over manufacturing, logistics, engineering and other functions.
Adani Ports CEO Pranav Choudhary resigns; former IRS Officer Niraj Bansal to take charge
Adani Ports CEO Pranav Choudhary will step down on May 31, with former IRS officer and ex-JNPT chief Niraj Bansal taking over from June 1.