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Business
Business US stock market flat as S&P 500 and Dow barely move, Nasdaq slides over 1% on chip rout
Wall Street traded mixed on Tuesday with the S&P 500 flat and Dow Jones gaining 385 points, while the Nasdaq Composite slipped over 1% dragged by a selloff in semiconductor stocks. Micron fell 8.4%, AMD 7.7%, and Nvidia 1.1% on renewed concerns over AI-driven demand sustainability and rising Chinese competition. Broader market sentiment was supported by strong earnings from Coca-Cola, Sherwin-Williams, and Illinois Tool Works.
Business Paradeep Phosphates Q1 net profit rises 24% to ₹393 crore on 36% revenue growth
Paradeep Phosphates Ltd reported a 24% year-on-year rise in Q1FY27 net profit to ₹393 crore, driven by a 36% revenue increase to ₹6,124 crore. The board also approved a ₹250-crore investment for an aluminium fluoride plant as part of its diversification into industrial chemicals.
Business India's Industrial Production Surges 7.3% in June, Led by Manufacturing and Power Sectors
India's Index of Industrial Production (IIP) expanded 7.3% year-on-year in June 2026, accelerating from 5% in May, according to the National Statistics Office. Manufacturing output grew 7.8%, while electricity & gas supply surged 10.6%. Within manufacturing, 19 of 23 industry groups posted positive growth, led by electrical equipment (34%), motor vehicles (17.5%), and food products (10.8%). Chief Economist Aditi Nayar of ICRA Ltd noted broad-based acceleration and robust investment activity.
Business South Korea's KOSPI Crashes 10.8%: Circuit Breaker Triggered as Semiconductor Rout Deepens
South Korea's KOSPI plunged 10.84% on Tuesday, its worst session in five months, driven by a rout in semiconductor stocks SK Hynix and Samsung Electronics. A circuit breaker was triggered for the eighth time this year. Foreign investors net sold 5 trillion won ($3.42 billion), while concerns over Chinese chipmaker CXMT's blockbuster IPO added to selling pressure.
Business Nifty IT Surges Nearly 4% as Tech Stocks Lead Market Rally Amid Global Selloff
The Nifty IT index surged 3.75% as heavyweight tech stocks rallied, while Indian benchmark indices opened marginally lower ahead of the US Federal Reserve decision. In contrast, South Korea's Kospi tumbled more than 9% and Japan's Nikkei fell over 4%, driven by a global semiconductor selloff amid AI boom sustainability concerns.
Business Rs 100 Crore+ Income Club Sees Most Entries in 4 Years, Tax Base Widens
The Indian government reported 576 individuals with gross income over Rs 100 crore in FY2024-25, with 161 additions — the highest in four years. The data, disclosed in Parliament, also shows widening direct tax base and rising tax-to-GDP ratio.
Business Tata Sons profit jumps 22% as IPO windfall masks nearly ₹29,000 crore losses in new ventures
Tata Sons reported a 22% increase in net profit to ₹31,961 crore for FY26, lifted by a ₹6,531 crore gain from the Tata Capital IPO. However, losses from new ventures including Air India, Tata Digital, and Tata Electronics surged to nearly ₹29,000 crore. The board declared a dividend of ₹1.1 lakh per share, up 70%, as chairman N Chandrasekaran faces a crucial AGM on August 18 for his reappointment.
Business Rs 100 crore club gets bigger: Number of nine-figure income filers quadruples in five years
The Times of India reports that the number of income tax filers declaring income over Rs 100 crore has quadrupled over the past five years, signaling a rise in high-income earners in India.
Business Stock market today: BSE Sensex rallies over 750 points, Nifty50 ends shy of 24,000 - top reasons for rise
Indian equity markets rallied strongly on July 27, 2026, with BSE Sensex closing up 776 points (1.02%) at 76,835.78 and Nifty50 ending at 23,995.95, up 228 points (0.96%), snapping a five-day losing streak. The rally was driven by easing Iran-US tensions, a sharp decline in crude oil prices, value buying after last week's correction, and falling US Treasury yields.
Business BSE Sensex Surges Over 800 Points, Nifty50 Tops 24,000 as Oil Drop and Geopolitical Easing Boost Sentiment
Indian benchmark indices BSE Sensex and Nifty50 surged on July 27, 2026, with the Sensex gaining over 800 points to 76,859 and the Nifty crossing 24,000. The rally was fueled by a sharp decline in crude oil prices and easing geopolitical tensions between the US and Iran. Meanwhile, Mangalam Worldwide Ltd reported an 18.7% rise in quarterly profit.
Business Federal Bank and TVS Motor Recommended as Top Stock Picks for July 27, 2026 Week: Motilal Oswal
Motilal Oswal Wealth Management Research Desk has recommended Federal Bank and TVS Motors as top stock picks for the week of July 27, 2026, citing strong earnings and growth prospects. Federal Bank reported a 37% YoY PAT increase to INR 11.8 billion, while TVS Motors posted a 32% YoY PAT of INR 10.2 billion. The broader market ended the previous week in the red, with BSE Sensex declining 2.67% over five sessions.
Business July FPI Inflows Hit Rs 42,000 Crore, Topping February Record as Equity Buying Resumes
Foreign portfolio investors (FPIs) recorded total inflows of nearly Rs 41,796 crore in July, the strongest month in 2026, breaking a four-month equity selling streak. Equity inflows of $1.6 billion were aided by participation in the SBI Funds IPO, while debt markets attracted $9.5 billion year-to-date. Despite the recovery, year-to-date total FPI flows remain negative at $18.4 billion.
Business Top-10 Firms Shed Rs 2.74 Lakh Crore in Market Value; HDFC Bank Takes Biggest Hit
A weak week on Dalal Street erased Rs 2.74 lakh crore from the combined market capitalisation of nine of India's 10 most-valued firms. HDFC Bank recorded the sharpest fall of Rs 1,18,383.91 crore, while Hindustan Unilever was the only gainer. The BSE Sensex dropped 2.67% and the Nifty fell 2.32% amid rising crude oil prices and geopolitical tensions.
Paramount and Warner Bros Pause $110bn Merger Amid Legal Challenge from States and Unions
Paramount Skydance and Warner Bros Discovery have agreed to pause their $110bn merger until June 2027 while a US judge considers a legal challenge from 12 US states and the Writers Guild of America. The pause follows European regulatory approval, conditioned on ending a film distribution partnership with Universal Pictures. The companies insist the merger is necessary to compete with streaming giants, but opponents argue it harms competition and reduces bargaining power for creators.
Business New UK Chancellor Unveils VAT Cut, Bus Fare Cap, and Business Rates Relief for Hospitality
BBC's Money Box reports on Chancellor John Healey's immediate policy announcements including a VAT cut on household energy from October, a bus fare cap from January, and a 20% business rates reduction for pubs, clubs, and live music venues from April. The programme also highlights a water poverty study affecting nearly 2 million households and a survey showing over 80% of wealthier over-45s favour lifetime gifts over inheritance.
Business Sensex Plunges 916 Points Intraday, Nifty Closes Below 23,800: Five Key Triggers Behind Market Crash
Indian equity markets extended their losing streak to a fifth consecutive session on Friday, July 24, with the BSE Sensex plunging as much as 916.96 points intraday before closing 331.62 points lower at 76,059.77 and the Nifty settling at 23,767.45. The sell-off was driven by escalating Middle East tensions pushing crude oil above $100 per barrel, renewed US trade tariffs, relentless FII outflows, weakness across Asian markets, and selling in heavyweight stocks like Infosys and HDFC Bank.
Business ITC Now Second Largest FMCG Company by Revenue, Aims for Top Spot
ITC's non-tobacco FMCG business crossed Rs 24,000 crore in revenue, making it the second-largest FMCG company in India by revenue after Hindustan Unilever, surpassing Nestle and Britannia. Chairperson Sanjiv Puri announced the milestone at the annual general meeting, saying the company aspires to become India's number one FMCG player.
Business BasicBlock acquires TrueNorth to expand beyond freight factoring into AI dispatch
Freight factoring firm BasicBlock has acquired TrueNorth, an AI dispatcher and free loadboard platform, to expand services for independent carriers beyond financing. The deal, announced Monday, unites two transportation tech startups with a shared focus on truckers. Financial terms were not disclosed.
Business Milky Mist to Launch ₹1,553 Crore IPO in Early August, India's Largest Dairy Issue
Milky Mist Dairy Food Ltd, a value-added dairy company, is expected to launch its ₹1,553 crore IPO by mid-August, following a ₹482 crore pre-IPO placement led by Temasek. The issue is the largest by an Indian dairy firm. Proceeds will be used for debt repayment and capacity expansion.
Business Tesla’s $28.24B Quarter Fueled by Record Deliveries and Semi Production Ramp
Tesla posted Q2 2026 revenue of $28.24 billion, up 26% year over year, driven by record vehicle deliveries and the start of Tesla Semi production. Capital expenditures more than doubled to $5.8 billion as the company invests heavily in manufacturing expansion, including the Semi program and battery production.
Business Axis AMC Acquires Rs 12,000 Crore PMS Business from Axis Securities, Adds 2,500 Investors
Axis Asset Management Company (Axis AMC) will acquire the portfolio management services (PMS) business of Axis Securities, adding over 2,500 investors and taking its PMS assets under management (AUM) to around Rs 15,000 crore. The deal is among the largest PMS transactions in India by investor count and strengthens Axis AMC's alternatives platform. Naveen Kulkarni has been appointed chief investment officer for PMS and listed equity alternates.
Business Birmingham Michelin Chef Says Business Rates Cut 'Not Enough' for Struggling Restaurants
Michelin-starred chef Alex Claridge, owner of Birmingham's The Wilderness, says the government's 20% business rates reduction for pubs, social clubs, and live music venues does not go far enough and omits restaurants, cafés, hotels, and cinemas. He calls for a VAT reduction instead, warning that many independent hospitality businesses are barely breaking even despite full dining rooms.
UK Government to Cut Business Rates by 20% for Pubs, Clubs and Music Venues
The UK government has announced a 20% cut in business rates for pubs, clubs and live music venues in England from April, saving firms around £1,100 next year. The £100m cost will be funded by reviewing tax relief on vape shops and clamping down on online marketplace tax compliance. Industry figures welcome the move but caution it may not offset rising costs.
Business Segro Board Unanimously Backs Prologis' Increased $18.7 Billion Takeover Bid
Segro's board agreed to back Prologis' increased £14 billion ($18.7 billion) takeover bid, with a 9.5% increase over the initial offer and a 47% premium to Segro's three-month weighted average share price. The UK Takeover Panel extended the deadline to August 12. The deal highlights growing consolidation in logistics real estate.
Business Penske Automotive Soars on $13.8 Billion Take-Private Bid by Two Largest Owners
Penske Automotive Group shares surged after its two largest shareholders, Mitsui & Co. (USA) and Penske Corporation, announced a $210 per share bid to acquire the remaining 27.8% of the company and take it private, valuing the automotive retailer at $13.8 billion. The deal underscores consolidation in automotive retail amid technological shifts.
Business Resilient industrial and services sectors helped Indian economy sustain despite global pressures: RBI
The Reserve Bank of India (RBI) stated that the Indian economy has navigated global uncertainties well and remains among the fastest-growing major economies. Healthy domestic demand and resilient industrial and services sectors sustained momentum despite fragile geopolitics and supply-chain pressures. Foreign investment inflows recovered, while CPI inflation rose to an 18-month high of 4.4% in June.
Business Stormont Economy Minister Archibald Plans Storm Compensation Law Despite Regulator Opposition
Stormont Economy Minister Caomihe Archibald has directed officials to propose removing the severe weather exemption for compensation to households affected by power outages, despite the Utility Regulator's concerns that the costs could be passed to consumers. Northern Ireland is currently the only part of the UK without a compensation scheme for storm-related electricity disruptions. The move follows criticism after Storm Éowyn last year, when NIE Networks declined voluntary payments.
Business UK Inflation Holds at 2.6% as Bank of England Weighs Rate Path Amid Fuel and Food Price Shifts
UK inflation declined to 2.6% in the year to June 2026, slightly below expectations, driven by cheaper fuel and falling food prices. The Bank of England, with its base rate at 3.75%, faces a delicate balance as inflation remains above the 2% target and is expected to rise again. Businesses should monitor rate decisions that affect borrowing costs and investment.
Business Asian Stocks Rally: Kospi Surges 6%, Nikkei Jumps Over 1,100 Points on Tech Rebound
Asian equities opened higher on Wednesday, tracking Wall Street gains, with South Korea's Kospi surging 4.78% and Japan's Nikkei climbing 1.3%. The rally was driven by a rebound in technology stocks after data showed Korean semiconductor exports nearly tripled in early July and Taiwanese export orders exceeded estimates. Oil prices rose amid geopolitical tensions, while the dollar held near one-week highs.
Business BSE Sensex Plunges Over 600 Points, Nifty50 Slips Below 24,050 as Pharma Stocks Tumble on Trump Tariff Plan
Indian equity markets opened sharply lower on Wednesday, with the BSE Sensex dropping 611.02 points to 76,859.09 and the Nifty50 slipping below 24,050. The decline was driven by a slump in pharmaceutical stocks following US President Donald Trump's announcement of a phased tariff plan on imported generic medicines, elevated crude oil prices, and selling in banking stocks. The Nifty Pharma index fell nearly 2%, with major pharma stocks declining 2–2.5%.
Business UK Inflation Drops to 2.6% in June as Fuel and Food Prices Ease
UK inflation fell to 2.6% in the year to June 2026, down from 2.8% in May, driven by lower fuel and food prices, according to the Office for National Statistics. The data offers some respite for businesses and consumers, though inflation remains elevated.
Business Karnataka Sees Fastest FDI Rise Among Major States as Inflows Nearly Double to $13 Billion
Karnataka recorded the fastest FDI growth among major Indian states, with inflows nearly doubling to $13 billion in the last financial year, driven by tech investments and global capability centres. Maharashtra, the top destination, saw a dip, while Gujarat remained flat at $5.7 billion. Sector-wise, computer software/hardware and services led inflows.
Supply Chain Serial Entrepreneur Marc Held Reveals Keys to Successful Freight Tech Exits in AI Era
In an interview with FreightWaves, serial entrepreneur Marc Held, CEO of HOPTEK, discusses the keys to successful freight tech exits, drawing on his track record with Green Screens and Turvo. He explains how HOPTEK's AI-native freight monetization platform helps carriers maximize profit and streamline tender decisions by leveraging cross-customer and cross-industry data.
Business Trimble's Transportation Division Sale: Unpacking the Strategic Divestiture of Key Acquisitions
Trimble is reportedly selling its transportation division, which includes major acquisitions Transporeon and PeopleNet. Analyst Bart de Muynck outlines the difficulties of merging carrier and shipper technologies, poor acquisition timing, and the challenges large enterprises face in unifying platforms. The divestiture signals deeper shifts in supply chain technology investment.
Business Record 7.4m UK households struggle to afford essentials as cost-of-living crisis deepens
A record 7.4 million low-income households in the UK are struggling to afford essentials such as food, heating and clothing, according to anti-poverty charity Joseph Rowntree Foundation (JRF). Prime Minister Andy Burnham has pledged to cut VAT on electricity bills from October, but charities are calling for further measures.
Business Anant Raj to Demerge Data Centre Business, Create Separate Listed Entity
Realty firm Anant Raj Ltd will demerge its data centre and cloud services business into a separate listed entity, Ashok Cloud Pvt Ltd, under a composite scheme of arrangement. The move aims to consolidate the data centre vertical and unlock shareholder value, as the company reported a profit of Rs 557 crore for FY2025-26.
Business Hatsun Agro Product Q1FY27 PAT flat at ₹133 crore on higher material costs despite 19% revenue growth
Hatsun Agro Product (HAP) reported a 1.5% decline in PAT to ₹133 crore for Q1FY27, impacted by a 37% rise in material costs, despite revenue growing 19% to ₹3,093 crore. Chairman RG Chandramogan highlighted strong brand equity and an expanded network of 42,000+ retail outlets across 22 manufacturing facilities in six states.
Business Thames Water lenders offer 'golden share' to head off nationalisation
The L&VW consortium of lenders has proposed a golden share and greater local authority control to prevent Thames Water's nationalisation. The sweetened deal adds hundreds of millions of pounds to a previously rejected £10bn plan, which includes writing off nearly half of the company's debt.
E-Commerce & Marketplaces Etsy Is In Its Flop Era, and Sellers Are Fleeing
Longtime Etsy sellers are leaving the platform in droves due to an influx of AI-generated art and drop-shipped goods, which have caused sales to plummet by up to 98% for some vendors. In response, a new crafts marketplace called Fybe will launch on August 1, explicitly banning AI and drop-shipping.
Business Vår Energi Acquires BlueNord in $1.33 Billion Deal to Become Europe's Largest Independent Oil and Gas Producer
Norwegian oil and gas company Vår Energi has agreed to acquire BlueNord in a transaction valued at approximately $1.33 billion, combining assets on the Norwegian and Danish Continental Shelves. The merged entity will become Europe's largest independent oil and gas producer, with long-term production of around 450,000 barrels of oil equivalent per day, low operating costs, and access to two new European gas delivery points.
Business US Judge Temporarily Blocks $110bn Paramount-Warner Bros Merger Amid Antitrust Concerns
A US federal judge has temporarily blocked the proposed $110bn merger between Paramount Skydance and Warner Bros Discovery, granting a 14-day restraining order in response to an antitrust lawsuit filed by 12 US states. The judge cited serious questions about the deal's impact on movie distribution and the public's interest in antitrust enforcement.
UK government borrowing falls to £16bn in June, ONS data shows as Burnham unveils cost-of-living measures
UK government borrowing totalled £16bn in June, £7.9bn less than a year earlier, according to the ONS. The unemployment rate held steady. New Prime Minister Andy Burnham began setting out policies to cut household living costs.
Business India's Core Sector Grows 5% in June, Fastest in Five Months on Iron Ore Boost
India's expanded core sector grew 5% in June 2026, the fastest pace in five months, driven by a 43.9% surge in iron ore and 9.8% cement growth. Energy-intensive sectors such as crude oil, natural gas, and refinery products continued to contract, while fertiliser production fell for the fourth straight month. The data, based on a revised base year 2022-23, showed Q1 FY27 core sector expansion of 3.6%.
Business Indian Stocks and Rupee Slide as Oil Spike Fuels Market Pressure
Indian markets closed lower on Monday with the Sensex falling 443 points and the Nifty declining 96 points amid volatile crude prices and geopolitical risks. The rupee weakened to 96.45 against the dollar, while banking stocks led the decline.
Business Sensex Falls 443 Points, Nifty Slips 96 as Markets End Lower; Midcap, Smallcap Gain
Indian benchmark equity indices declined on the trading day, with the Sensex falling 443 points and the Nifty losing 96 points. However, broader market indices—Midcap 100 and Smallcap 100—posted gains. The rupee weakened against the US dollar, while crude oil prices showed mixed movement and precious metals edged higher.
Business Sobha Q1 Net Profit Surges Nearly 250% to ₹51 Crore on Strong New Launches
Sobha Limited posted a 274% jump in Q1 FY27 net profit to ₹51 crore, with revenue rising 48% to ₹1,330 crore. The company achieved its highest-ever quarterly sales of ₹3,656 crore, driven by new project launches in Bangalore and Gurgaon.
Business Segro Rejects Enhanced $18.2B Prologis Takeover Bid, Third Offer Rebuffed
Segro has rejected Prologis' third and enhanced takeover bid valued at £13.5 billion ($18.2 billion), representing a 6% increase over the initial all-stock proposal. The offer includes a 20% cash component and a 41% premium to Segro's three-month weighted average share price. Segro called the bid opportunistically timed, while Prologis argued its proposal provides superior value and access to a larger logistics network.
Business Era of Cheap Borrowing May Be Over as World Enters 'New Macro Regime,' Moody's Warns
According to a Moody's Ratings report, the global economy has entered a new macro regime marked by structurally higher interest rates, sustained investment in AI and defence, and elevated geopolitical risks. Bond yields have risen to pre-crisis levels, and capital is flowing to policy-backed sectors. The outlook hinges on AI productivity gains and stable geopolitical conditions.
Business Aurum Proptech Q1 Net Profit Surges to ₹45 Crore on Sale of Navi Mumbai Buildings
Aurum PropTech Ltd reported a consolidated net profit of ₹45.18 crore for the June quarter, reversing a year-ago loss, mainly due to gains from the sale of two commercial buildings in Navi Mumbai. Total income rose to ₹119.01 crore, and the company announced the acquisition of Housing.com for ₹458 crore.
Business Oberoi Realty Q1 Profit Surges 29% to ₹544.71 Crore on Strong Revenue Growth
Oberoi Realty posted a 29.3% year-on-year increase in consolidated net profit for the first quarter of FY27 to ₹544.71 crore, driven by 26.7% revenue growth. EBITDA rose 31% to ₹794.94 crore, with chairman Vikas Oberoi citing steady performance across residential, commercial, retail, and hospitality segments.
Business Top Stocks to Buy: Saatvik Green Energy and Unimech Aerospace Recommended for July 20 Week
Motilal Oswal Wealth Management Research Desk has selected Saatvik Green Energy (SGEL) and Unimech Aerospace as top stock picks for the week starting July 20, 2026. SGEL is a solar module manufacturer with planned expansion into integrated solar production, while Unimech Aerospace supplies tooling to major aerospace OEMs and is diversifying into precision components. Both stocks are expected to deliver strong revenue and profit growth over FY26–28E.
Business Top-5 Valued Firms Add Rs 1.54 Lakh Crore in Market Cap; TCS Emerges Biggest Gainer
Five of India's 10 most-valued companies added Rs 1.54 lakh crore to their market capitalisation last week. TCS was the biggest gainer, adding Rs 72,072 crore after reporting a 4.61% rise in June-quarter net profit. The rally was driven by encouraging IT sector earnings and renewed buying in financial stocks.
Business Kolte-Patil Developers Q1 Sales Flat at ₹617 Crore, Realisation Jumps 29%
Kolte-Patil Developers reported flat sales bookings of ₹617 crore in Q1FY27, unchanged from ₹616 crore a year ago. However, average sales realisation surged 29% to ₹9,442 per sq ft, driven by price revisions and a higher share of Mumbai projects. Collections increased 30% to ₹715 crore, indicating strong execution momentum.
Business Indian Benchmark Indices Post Modest Weekly Gains on Strong Buying Despite Global Headwinds
Indian benchmark equity indices registered modest weekly gains, with the Sensex rising 0.75% and the Nifty 50 gaining over half a percent, supported by strong buying following better-than-expected earnings from heavyweight companies. Broader market indices underperformed, with the Nifty Midcap 100 and Nifty Smallcap 100 declining. The Indian rupee depreciated 96 paise against the US dollar during the week.
Business 2026 FIFA World Cup Could Trigger $17 Billion Productivity Loss Worldwide, UKG Survey Finds
According to a UKG survey of 8,000 employees across eight countries, the 2026 FIFA World Cup could result in at least $17 billion in lost productivity globally, with the United States accounting for $11.7 billion. Key findings include 37% of employees adjusting work schedules, 27% missing work, and significant presenteeism. Office attendance dropped 26% in the US on the day after the national team's loss, according to Envoy.
Business Pakistan to Revise Fuel Prices Daily; Current Account Records $139 Million Deficit in FY26
Pakistan will revise petroleum prices daily instead of weekly to respond to volatile global oil prices driven by US-Iran tensions. The government also reported a current account deficit of $139 million for FY2025-26, reversing the previous year's surplus of $1.838 billion. The All Pakistan Petrol Pump Owners' Association has rejected the deregulation policy and warned of protests.
Business Reliance Retail Q1 Results: Quick-Commerce Spends Drag PAT 14% YoY to Rs 2,806 Crore; Revenue Rises 7%
Reliance Retail reported a 14% YoY drop in PAT to Rs 2,806 crore for Q1 FY27, as investments in quick-commerce weighed on earnings. Revenue grew 7% (or 11.6% adjusted for the Consumer Brands demerger), while EBITDA margin contracted 80 bps to 7.9%. Digital commerce average daily orders surged 116% YoY, and the store network expanded to 20,169 stores. The company outlined a 3-year plan to double operating EBITDA through scale, unit economics, and omni-channel growth.
Business Reliance Industries Q1 Profit Falls 25% to Rs 23,196 Crore, Revenue Rises 25%
Reliance Industries reported a 25% decline in Q1 profit to Rs 23,196 crore, beating estimates, as revenue rose 25% to Rs 3.1 lakh crore. The drop was due to a one-off gain in the year-ago quarter from the sale of a stake in Asian Paints. EBITDA grew 10% to Rs 51,403 crore, led by strong performance in O2C and Jio.
Business RBI Governor Malhotra Signals Patience on Inflation, Credit Growth Spurt
RBI Governor Sanjay Malhotra signaled the central bank is unlikely to tighten policy in response to elevated inflation and strong credit growth, attributing price pressures to supply-side factors and noting no immediate distress in fast-growing loan segments. CPI is projected at about 5.1% this year, slightly above target but driven by specific sectors.
Business Sensex Surges 965 Points on Q1 Earnings Optimism, Nifty Hits 24,330
Benchmark Indian equity indices surged on Friday, with the Sensex climbing 965 points and Nifty reaching 24,330, propelled by buying in blue-chip stocks including Reliance Industries, bank and IT shares. Tech Mahindra led gains after reporting a 28.4% rise in Q1 net profit to Rs 1,465 crore. The rupee strengthened 14 paise to 96.3 against the US dollar, while Brent crude rose 1.79% to $85.5 per barrel.