Business

17

Sep

By The Press Editor

Business

Sensex ends range-bound session in red, Nifty holds 23,250 amid selling in banking stocks

Benchmark indices Sensex and Nifty ended a range-bound session mixed as investors remained cautious amid concerns about a broader rate-tightening cycle, driven by ongoing Middle East tensions and the risk of US tariffs. The 30-share BSE Sensex fell 21.86 points or 0.03 per cent to settle at 74,314.59. During the day, the benchmark hit a high of 74,677.56 and a low of 74,163.95, gyrating 513.61 points. The 50-share NSE Nifty ended with a gain of 53 points or 0.23 per cent and closed the session at 23,270.60. However, the broader market closed in the green. While the BSE MidCap Select…

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17

Sep

By The Press Editor

Business

Noida vs Gurugram: How corporate expansion and infrastructure are splitting NCR, check details

Delhi NCR is entering a phase in which its two most closely watched real estate markets, Noida and Gurugram, are increasingly being shaped by distinct economic forces. Gurugram continues to deepen a model anchored in corporate expansion, luxury housing and a well-established office ecosystem. Noida, meanwhile, is entering a new cycle of infrastructure-led growth, propelled by expressways, the newly operational Noida International Airport, emerging commercial districts, and fresh investment in manufacturing, logistics, and data centres that is broadening its economic base. The result marks the emergence of two distinct growth models that are beginning to shape where companies choose to…

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17

Sep

By The Press Editor

Business

Govt to ensure merchants absorb UPI MDR charges, not pass them to consumers: Sources

Amid opposition demands to roll back the 0.4 per cent Merchant Discount Rate (MDR) on select UPI payments, government sources on Thursday said the decision followed due consideration, and the government will closely monitor implementation to ensure merchants do not pass the charges on to consumers. "Efforts will be made to plug gaps in enforcement. Govt has held discussions with payment aggregators. Govt will closely monitor effective implementation to ensure that merchants do not pass on the charges to consumers," sources were quoted as saying by news agency ANI. Sources also said the decision to impose the 0.02 per cent…

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17

Sep

By The Press Editor

Business

Meet Zhang Yiming, the TikTok founder who is now Asia’s richest person

Asia's richest list has seen a major reshuffle. Zhang Yiming, founder of ByteDance, the parent company of the popular short-video platforms Douyin and TikTok, has made history by surpassing Indian tycoons. Zhang Yiming has now become Asia's richest person, surpassing  Indian industrialist Gautam Adani. According to a Bloomberg report, 43-year-old Zhang Yiming's net worth has skyrocketed. His net worth now exceeds USD 105 billion. Astonishingly, his wealth has increased by more than USD 12 billion (approximately Rs 1.15 lakh crore) in this month (September) alone. Yiming's wealth was only USD 13 billion in March 2019, and has surged exponentially over…

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17

Sep

By The Press Editor

Business

N Chandrasekaran re-appointed Tata Group Chairman for a five-year term by Tata Sons

Mumbai: Tata Sons has approved the re-appointment of N Chandrasekaran as Chairman of the Tata Group for another five-year term, sources told ANI. The decision was taken at a meeting of the Tata Sons Board held in Mumbai on Thursday. Chandrasekaran has been serving as Chairman of Tata Sons since 2017. His re-appointment will extend his tenure at the helm of the Tata Group for another five years. N Chandrasekaran's stepping down and a comeback Chandrasekaran had announced on August 12 that he would not seek a third term after completing his current tenure. Now, the Nomination and Remuneration Committee…

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17

Sep

By The Press Editor

Business

Gold falls nearly Rs 2k, silver down 2% on MCX after Fed rate hike | Check city-wise rates

Rates of precious metals in futures dropped and opened with a sharp gap down on Thursday following the Federal Reserve’s first rate hike since 2023. The gold October 5 contract on the Multi Commodity Exchange (MCX) opened with a fall of Rs 1,957 or 1.28 per cent at Rs 1,50,513 per 10 grams against the previous close of Rs 1,52,470. It fell further amid profit booking and touched an intraday low of Rs 1,50,483, down Rs 1,987 or 1.30 per cent. Last seen, it was trading at Rs 1,51,580 with a fall of Rs 890. On the MCX, the yellow…

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17

Sep

By The Press Editor

Business

Defence stock in focus as firm receives transfer of tech for precision-guidance system, check share price

Shares of the Hyderabad-based defence and aerospace technology company Apollo Micro Systems will be on investors' radar as the company has informed exchanges that it has received the Transfer of Technology (ToT) for the Semi-Active Laser Homing System (SALHS), which is a precision-guidance system designed to provide in-flight guidance to munitions towards a laser-designated target. It is an important development as the Ministry of Defence has already granted the Acceptance of Necessity (AoN) for the Multi Influence Ground Mine (MIGM) - Vighana. The development solidifies the company's transition into a Tier-I Original Equipment Design Cum Manufacturer (OEDM).   How is SALHS useful?…

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17

Sep

By The Press Editor

Business

NSE IPO GMP vs Hero Motors IPO GMP: Here’s what grey market premiums suggest ahead of listing, check details

The much-awaited initial public offering (IPO) of the National Stock Exchange (NSE) is now open for subscription. This ends a wait of around a decade, as the bourse initially planned to go public in 2016. Ahead of the IPO, the NSE garnered Rs 6,746 crore from anchor investors. State-owned Life Insurance Corporation of India (LIC), Goldman Sachs and Fidelity were among the key investors. According to a circular uploaded on the BSE website, NSE allotted over 3.77 crore shares to 150 anchor investors at Rs 1,785 apiece, the upper end of its IPO price band. This takes the transaction size…

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17

Sep

By The Press Editor

Business

India’s semiconductor ecosystem opening new opportunities for innovation, investment: PM Modi at SEMICON India 2026

Prime Minister Narendra Modi inaugurated SEMICON India 2026 on Thursday. This year's theme is ‘Silicon to Systems: Building the Ecosystem’. Addressing the event, PM Modi said that India has a centuries-old tradition of construction.  "Today is also the occasion of Vishwakarma Jayanti. I extend my best wishes to all citizens on Vishwakarma Jayanti. In our tradition, Lord Vishwakarma is considered a symbol of the power of creation and construction. And look at the coincidence, the PM Vishwakarma scheme is also being launched today. On one hand, we have our centuries-old tradition of construction and on the other, the technology and…

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17

Sep

By The Press Editor

Business

Karamtara Engineering, Rentomojo shares list at premium on NSE, BSE, muted debut for Manipal Payment

Shares of Karamtara Engineering and Rentomojo made a positive debut on the bourses, while Manipal Payment listed at a discount to the issue price. Karamtara Engineering shares listed at Rs 320 on the National Stock Exchange (NSE) and BSE, a premium of 25.98 per cent over the issue price of Rs 254. Similarly, the stock of online furniture and appliance rental platform Rentomojo was listed at Rs 482.45, a premium of 19.42 per cent to the issue price of Rs 404. On the BSE, the stock got listed at Rs 480.  While Rentomojo Ltd was subscribed 72.88 times on the final…

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