Market News
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Sebi seeks clarification from Jio Platforms on IPO filing
India's capital markets regulator Sebi has requested clarifications from Jio Platforms regarding its draft IPO papers. This move signals a crucial step towards what is anticipated to be the nation's largest public offering, aiming to raise approximately Rs 35,000 crore. The company plans to utilize these funds primarily for debt repayment and future expansion, marking a significant value-creation milestone for Reliance Industries.
Jupiter International Ltd invests Rs 550 cr in new TOPCon solar cell facility in Himachal's Baddi
Jupiter International Ltd has boosted its solar cell manufacturing capacity to 3.25 GW with a new 1.25 GW TOPCon unit in Himachal Pradesh, investing Rs 550 crore. This move signifies a shift towards advanced, high-efficiency solar technologies. The company's CEO highlighted this as a key step in their technology journey, paving the way for future expansions and supporting India's clean energy goals.
EPFO Portal To Remain Unavailable From June 26-28: What It Means For Your EPF Claims
The temporary shutdown of services is aimed at improving service quality and making claim processing faster and more efficient in the future.
Tata Motors CEO says India growth story will outweigh West Asia war impact on CV demand in long term
Tata Motors anticipates short-term headwinds for commercial vehicle demand due to West Asia war-induced diesel price hikes. However, MD & CEO Wagh remains optimistic, citing India's strong macro-economic growth as a long-term driver for increased road freight and commercial vehicle demand. He also highlighted government initiatives like electrification incentives as positive factors for the industry's future.
Forget power: The unquenchable AI thirst propelling water stocks up to 45%
India's water sector is experiencing a surge, with stocks like Shakti Pumps and VA Tech Wabag jumping up to 45% in a month. This rally is fueled by increased government funding for water infrastructure and the growing demand from data centers for cooling. Experts predict wastewater treatment and recycling will be key growth areas, though current valuations reflect future optimism more than present earnings.
RBI tightens rules on recovery of excess pension payments
Government pensioners will now have stronger protection against unexpected deductions from their accounts. The Reserve Bank of India has mandated that banks must inform pensioners and obtain their consent before recovering any excess pension payments. This new directive ensures that individuals are aware and agree to any adjustments, preventing abrupt debits and requiring a written undertaking from pensioners for future recoveries.
India rewrites telecom rulebook, replacing licence contracts with statutory authorisations
New government rules replace the telecom industry's contractual licensing with a unilateral statutory model. Operators will now receive authorization after meeting requirements, with future government directives becoming binding terms. Violations will be treated as statutory breaches, managed internally, and can be appealed to the TDSAT. This shift aims to streamline regulation, though telcos expressed concerns about investment uncertainty.
US, India Working On Trade Deal; Set To Collaborate On AI And Future Tech: USTR
Greer said India and the US are actively working towards a trade agreement, although he did not provide a timeline for concluding the talks.
Buy the dip in gold, silver; new highs still ahead: Swiss Asia Capital CIO
Juerg Kiener, Managing Director and CIO of Swiss Asia Capital (Singapore) expects both precious metals to hit fresh highs, supported by tight inventories, inflation risks and future economic stimulus.
How A Series Of Conversations Made Kunal Shah Meta's Pick For WhatsApp Chief
Meta's months-long search for WhatsApp's next leader ended with Kunal Shah, whose entrepreneurial background aligned with the platform's future goals.
HDFC Bank chairman search narrows to 3 candidates as board nears decision
HDFC Bank has shortlisted three candidates for its next non-executive chairman, with the board expected to finalise its recommendation by end-June. The decision is closely linked to CEO Sashidhar Jagdishan’s future and comes amid ongoing governance-related scrutiny.
Industry must adopt emerging tech to boost productivity, remain competitive: Steel Minister
Union Steel Minister HD Kumaraswamy has urged the Indian steel industry to embrace emerging technologies like AI and IoT to boost global competitiveness and productivity. Speaking at a digitalization seminar, he emphasized that future success hinges on intelligent ecosystems, not just capacity. The minister highlighted the government's ambitious steel production targets, driven by infrastructure and manufacturing growth, and stressed that digitalization is crucial for long-term survival and enhanced safety.