Business

India’s shadow banking crisis has sucked in more financial firms this week, eroding a stock market rally that’s been driven by a surprise $20 billion tax cut package. The S&P BSE Sensex Index posted its third day of losses on Tuesday, ending a surge since the Sept. 20 announcement of […]

India’s largest manufacturer of toothpaste tubes, snack packets and other flexible packaging sees profits in Prime Minister Narendra Modi’s plan to eliminate single-use plastic by 2022. Uflex Ltd. aims to invest about $500 million over four years to build new factories and expand existing facilities focused on greener materials, Anantshree Chaturvedi, chief […]

The BSE benchmark Sensex crashed over 737 points to trade at 37,930 in a fag-end selling on Tuesday as investors weighed deepening woes in the financial sector. The broader NSE Nifty too dived over 227 points to 11,247.90. Yes Bank shares crashed over 24 per cent on Tuesday, a fifth […]

Shares of Yes Bank went into a tailspin in afternoon trade on Tuesday despite a positive opening, tumbling nearly 20%. The scrip came under massive selling pressure in afternoon trade, giving up its early gains and plunged 19.90% to Rs 33.20 — its multi-year low — on the BSE. On […]

The railways has witnessed a shortfall of around Rs 12,000 crore from ticketing, loading and sundries in the April-August period this year as compared to the corresponding period last year, with the national transporter failing to meet any of its target growth rates in the first five months of the […]

One of the most successful Silicon Valley-Asia venture capital firms is counting on the humble mom-and-pop store that dominates India’s retail landscape to hold its own against Amazon.com Inc. and Walmart Inc. Menlo Park, California-based GGV Capital, a $6.2 billion investor in some of the biggest unicorns in the U.S. […]

Mounting debt failures in India have been catching rating companies off guard, underscoring continued challenges a year after the landmark failure of shadow bank IL&FS increased scrutiny of the industry. Defaults at companies including Dewan Housing Finance Corp., Cox & Kings Ltd. and Altico Capital India Ltd. have occurred even […]

Forever 21 Inc. filed for bankruptcy protection, the latest big fashion merchant who couldn’t cope with high rents and heavy competition as the shift to e-commerce cut a swathe through traditional retailers. Court papers filed in Wilmington, Delaware, show Forever 21 has estimated liabilities on a consolidated basis of between […]

State-run Indian Railway Catering and Tourism Corporation Limited (IRCTC) will launch its initial public offering (IPO) on Monday with a price band of Rs 315-320 per share. The offer is a part of the government’s divestment programme for the current financial year 2019-20. The government is offloading more than two crore equity […]

Private sector lenders have said there is no liquidity crisis in the banking system and they are willing to participate in loan festivals meant to boost consumption ahead of the festival season, Union finance minister Nirmala Sitharaman said on Thursday following a meeting with private bankers and financial institutions. India’s […]

More than 6 crore subscribers of the retirement fund body EPFO will find the interest credited for the year 2018-19 into their bank accounts after the Labour Ministry notified 8.65% interest rate on Employees Provident Fund (EPF). Rs 54000 crore will be credited into the accounts of more than 6 […]

India’s SpiceJet Ltd. is weighing an order for at least 100 Airbus SE planes as Boeing Co. grapples with the fallout over its grounded 737 Max. The budget carrier, a major global customer for the Max, may buy a “sizable” number of Airbus A321LR and XLR jets to accommodate a […]

The auto sector continues to battle a crisis and India’s largest car maker Maruti Suzuki on Wednesday announced a price cut on some of its models. Maruti Suzuki India reduced the prices by Rs 5,000 in models such as Alto 800, Alto K10, Swift Diesel, Celerio, Baleno Diesel, Ignis, Dzire Diesel, […]

Indian Railway Catering and Tourism Corporation Limited (IRCTC) will launch its initial public offering (IPO) on September 30. The government-owned entity is expected to announce the IPO price band on Wednesday. IRCTC is the Indian Railways tourism arm which sells train tickets online, provides catering service to railways and provides […]