Business

[ad_1] Image used for representative purposes The Supreme Court on Monday questioned the Centre's delay in establishing a definitive policy for cryptocurrency regulation, expressing concerns over its economic implications. The bench, comprising Justices Surya Kant and N Kotiswar Singh, drew parallels between Bitcoin transactions and illegal "hawala" operations. Justice Kant observed, "Trading in Bitcoin is an illicit trade more or less like a Hawala business.""Why does Centre not come out with a clear cut policy on regulating cryptocurrency? There is a parallel under-market for it and it can affect the economy. By regulating the cryptocurrency, you can keep an eye on the trade," the bench addressed Additional Solicitor General Aishwarya Bhati, representing the Centre, quoted by news agency PTI.Bhati sought time to obtain instructions regarding the matter.The court was considering a bail application for a person detained in Gujarat for […]

[ad_1] NEW DELHI: Instant beverage makerRasna announced on Monday its acquisition of the Jumpin brand from Hershey’s India, marking its entry into the ready-to-drink market. While the financial details of the deal remain undisclosed, independent valuations place the brand’s worth at Rs 350 crore.According to Rasna Chairman Piruz Khambatta, the company has acquired only the brand rights, not the manufacturing infrastructure. Production will continue through the existing setup, as reported by news agency PTI.Jumpin, originally launched by the Godrej Group, was later managed by Hershey’s India. Khambatta emphasised the brand’s strengths—its legacy appeal, family-friendly positioning outside the energy drink category, and early adoption of tetra pack packaging in India.“Legacy brands need modernisation,” Khambatta said, confirming that Jumpin will retain its name under Rasna’s stewardship.The refreshed Jumpin range will be launched in PET bottles and tetrapacks, starting from 125 ml, with […]

[ad_1] State Bank of India (SBI) reported a record profit of around USD 9.2 billion for the fiscal year ending March 2025, making it only the third Indian company—after Reliance Industries and ONGC—to feature in the Global Top 100 ranked by net profit. Despite this remarkable achievement, much of SBI's profits are generated by a relatively small digital cohort, as highlighted by Rajendra Srivastava, considered India's Philip Kotler, in a post on medium.com, as reported PTI.The bank’s exceptional profitability is largely attributed to its strategic shift towards digital banking, particularly through the YONO app. Launched in November 2017, YONO has become a cornerstone of SBI’s growth strategy, initially created as a response to rising fintech competition. Today, the app boasts over 74 million registered users, positioning it as one of the largest digital banking platforms in the country.Since its inception, […]

[ad_1] Gold rate today: Gold prices soared by Rs 580 to reach Rs 97,030 per 10 grams in the national capital on Monday, supported by strong cues from international markets, according to the All India Sarafa Association.On Friday, gold of 99.9% purity had closed at Rs 96,450 per 10 grams.Similarly, gold of 99.5% purity rose by Rs 580 to Rs 96,580 per 10 grams, up from its previous close of Rs 96,000, news agency PTI reported.Silver prices also climbed, gaining Rs 500 to settle at Rs 98,500 per kilogram, compared to Rs 98,000 on the last trading day.On the Multi Commodity Exchange (MCX), the most active gold futures contract rallied Rs 1,182, or 1.28%, to trade at Rs 93,623 per 10 grams. Silver futures for July delivery rose Rs 662 to Rs 95,980 per kilogram.In global markets, spot gold advanced […]

[ad_1] Pirojsha Godrej (File photo; credit- Godrej website) NEW DELHI: Godrej Properties, one of India’s prominent real estate developers, acquired 14 land parcels across major cities during the 2024–25 fiscal year, with a total development potential of approximately Rs 26,500 crore.These acquisitions span key urban markets, including the Mumbai Metropolitan Region (MMR), Pune, Delhi-NCR, Bengaluru, Kolkata, Ahmedabad, and Indore, according to the company’s chairperson, Pirojsha Godrej.In an interview with PTI, Godrej said, "Last financial year, we added about Rs 26,500 crore worth of new projects, as against the guidance of Rs 20,000 crore. This fiscal, we are again giving guidance of Rs 20,000 crore. Quite likely, we will exceed this by a good margin."Godrej Properties is actively expanding its land bank through outright purchases and strategic partnerships with landowners, a growing trend among developers seeking scale and long-term value creation.The […]

[ad_1] India is making significant strides in enhancing the appeal of its manufacturing sector to global investors, according to a new study by S&P Global India Research. The report, titled “India Forward: Transformative Perspectives,” highlights that global shifts in trade policy could work in India’s favour over the long term.“As economies adapt to evolving trade dynamics and tariff challenges, India can capitalise on this momentum for accelerated manufacturing growth and greater global supply-chain integration,” the study stated as reported news agency PTI.It points to a strategic global shift toward local sourcing, closer proximity to end-markets, and stronger regional integration as key trends that could drive additional investment into India’s manufacturing sector. These changes are expected to support the country’s technological advancement, boost competitiveness, and generate more high-quality manufacturing jobs.“Beyond the near-term, changes in global trade policy would catalyse supply-chain diversification, […]

[ad_1] Vodafone had requested relief of approximately Rs 30,000 crore. (AI image) The Supreme Court on Monday rejected appeals from major telecommunications companies Vodafone, Airtel andTata Teleservices regarding their request for adjusted gross revenue (AGR) dues waiver. The bench, consisting of Justices J B Pardiwala and R Mahadevan, deemed these appeals "misconceived"."We are really shocked by these petitions which have come before us. It is not expected of a multinational company. We will dismiss it," the bench stated to senior advocate Mukul Rohatgi, who represented Vodafone.The Supreme Court declined to interfere with the government's position regarding assistance to the telecommunications companies, according to a PTI report.Vodafone had requested relief of approximately Rs 30,000 crore, covering interest, penalty and interest on penalty components of their AGR dues.Rohatgi earlier emphasised that the petitioner organisation's continued existence was essential for sustaining competition within […]

[ad_1] Protean eServices participated in the competitive bidding process to become a Managed Service Provider (MSP) for the PAN 2.0 Project. (AI image) Protean share price crash: Protean eGov Technologies' stock plummeted 20% to reach its lower circuit of Rs 1,143 on NSE following the Income Tax Department's decision not to select the company for its PAN systems modernisation project. The scope of work encompassed designing, developing, implementing, operating and maintaining PAN systems under the PAN 2.0 project."We were informed by the Income Tax Department (ITD) that we have not been considered favourably for the next round of the RFP selection process," Protean said in a regulatory filing on Sunday.The organisation clarified that whilst the project involved upgrading PAN systems technology at the Income Tax Department, it stated, "It appears to have limited or minimal impact on our ongoing PAN […]

[ad_1] Gold could trade in a broad range of Rs 91,500 and Rs 95,500 this week. (AI image) Gold price prediction today: Gold is a safe haven investment but geopolitical tensions and developments in the US-China trade deal have left investors confused - should they buy, sell or hold gold? There is also the additional factor of Moody’s downgrading the US credit rating.Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial services Ltd shares his outlook ongold prices:Gold prices started last week steady but were on track for their steepest weekly decline in six months, primarily due to a stronger U.S. dollar and reduced concerns over the trade war. The U.S. and China agreed to a 90-day pause on tariffs, which eased tensions and lessened the risk premium that had been supporting gold. Economic data also showed weaker-than-expected inflation […]

[ad_1] Asian stock markets slid on Monday and the US dollar weakened after Moody’s downgraded the United States’ last remaining triple-A sovereign credit rating, triggering renewed investor concerns about Washington’s rising debt burden. Moody’s cut the rating from Aaa to Aa1, citing “the increase over more than a decade in government debt and interest payment ratios to levels that are significantly higher than similarly rated sovereigns.” It warned US deficits could swell to nearly 9% of GDP by 2035, up from 6.4% last year, driven by ballooning interest payments, entitlement spending, and relatively weak revenue. The downgrade follows similar moves by S&P in 2011 and Fitch in 2023. Analysts noted the cut could increase yields on US Treasuries, raising borrowing costs for the federal government. Despite the development, US Treasury Secretary Scott Bessent downplayed the move, calling it “a lagging […]