Business

03

Jun

By The Press Editor

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Business

Indian equities end highly volatile session lower, Sensex down 304 points, Nifty at 23,400 | Markets

Mumbai: The domestic stock market closed in the red again today. IT stocks witnessed a massive fall on Wednesday. Amid this fall, the shares of all the major IT companies, including TCS, Tech Mahindra, HCL Tech, and Infosys, collapsed. The BSE Sensex closed at 74,346.17 points with a loss of 303.67 points (0.41 per cent). Whereas, NSE's Nifty 50 index also closed at 23,405.60 points today, falling by 77.95 points (0.33 per cent). It's worth noting that the market had closed higher on Tuesday. Yesterday, the Sensex gained 382.50 points (0.52 per cent) to close at 74,649.84, and the Nifty…

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03

Jun

By The Press Editor

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Business

Oyo parent Prism to launch Rs 6,650 crore IPO, gets Sebi’s nod: Check details | Business

Mumbai: Oyo's parent company, Prism, has received SEBI's approval to raise Rs 6,650 crore through an IPO, people familiar with the matter said on Tuesday. They said the proposed public offering is expected to value the company at $7-8 billion. Prism, the parent company of global travel tech unicorn Oyo, had filed documents for the IPO with the Securities and Exchange Board of India (SEBI) through a confidential mode at the end of December 2025. These documents were filed after shareholders' approval at the company's EGM on December 20, 2025. Company to file UDRHP-1 by July The company will now…

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03

Jun

By The Press Editor

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Business

Cabinet clears Rs 10,000 crore ATF stabilisation fund: What it means for airlines and passengers | Business

Mumbai: Amid unstable fuel prices due to tensions in the Middle East, the government on Wednesday approved a one-time budgetary support of Rs 10,000 crore for oil marketing companies (OMC) to provide aviation turbine fuel (ATF)  price stabilisation to Indian airlines for domestic and international operations. The decision was taken by the Union Cabinet, chaired by Prime Minister Narendra Modi. Sharing the details of the meeting, Union Minister Ashwini Vaishnaw said the budgetary support shall be in the form of interest-free advances to OMCs through the Demands for Grants of the Ministry of Petroleum and Natural Gas.

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03

Jun

By The Press Editor

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Business

Common Landing Portal: How can this government platform help in finding your unclaimed financial assets? | Personal-finance

New Delhi: Did your grandparents or parents make a fixed deposit (FD) years ago, and the certificate or details about it are now missing? Or did a family member buy shares of a company and forget about it? There are several instances in which people forget about investments. Due to a family tragedy or any other reason, the nominee loses track of them. According to reports, crores of rupees lie unclaimed in banks, insurance companies, and mutual fund houses across the country.  To tackle this problem, the Department of Financial Services (DFS), under the Ministry of Finance of the Government…

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03

Jun

By The Press Editor

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Business

India reacts to fresh US tariff threats: ‘Talks on, trade framework in works’ | What is Section 301? | Business

New Delhi: As India and the United States are trying to finalise a trade deal, New Delhi on Wednesday said that it remains engaged with Washington on the matter as part of the Section 301 proceedings. The statements comes as the United States Trade Representative (USTR) has concluded investigations against 60 economies, including India, and proposed 12.5 per cent as the rate of additional duty for failures related to the failure to impose and effectively enforce a prohibition on the importation of goods produced with forced labour. "India is also parallelly engaged with the US for finalisation of a framework…

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03

Jun

By The Press Editor

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Business

Fact Check: RBI rejects USD 12 billion gold sale report as false, cites rising reserve share | Business

New Delhi: The Indian government has denied a media report claiming that the Reserve Bank of India (RBI) sold gold worth Rs 12 billion to save the country's forex reserve amid the ongoing conflict in the Middle East, calling it "false". Instead, the Press Information Bureau (PIB) said that the share of gold in India's foreign exchange reserves rose from 13.92 per cent at the end of September 2025 to 16.70 per cent on March 31, 2026, and further to 16.85 per cent as of May 22, 2026.  The fact-check came after Bloomberg published a report quoting sources who claimed that…

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03

Jun

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Business

Why is market down today? Sensex, Nifty fall over 1% – Here are factors that led to crash | Markets

Mumbai: Indian benchmark indices crashed over 1 per cent in early trade today, i.e. on June 3, 2026. The stock market traded in deep red despite strong global cues. Overnight, Wall Street extended its gains with the S&P 500 closing at a fresh record high. Asian equities followed Wall Street with Japan's Nikkei scaling new lifetime highs, reflecting continued confidence in global growth and technology-led earnings momentum. According to experts, the strength in global equities suggests that investors are increasingly willing to look beyond near-term geopolitical headlines and focus on underlying economic resilience. However, in India, the Sensex crashed by…

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03

Jun

By The Press Editor

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Business

Delhi to Bihar travel set to get faster: New expressway link to bypass Lucknow traffic | Business

New Delhi: Millions of people travelling from Delhi and western Uttar Pradesh to eastern UP and Bihar could soon enjoy a smoother and faster journey. A long-awaited project to connect the Agra-Lucknow Expressway with the Purvanchal Expressway is moving closer to reality, promising to significantly improve road connectivity across the state. The proposed link expressway will be around 51 kilometres long and is expected to be built at a cost of nearly Rs 4,775 crore. Direct route between two key expressways  The new corridor is being planned to provide a direct connection between the Agra-Lucknow Expressway and the Purvanchal Expressway.…

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02

Jun

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Business

Why govt is selling up to 6% stake in NHPC at Rs 71 per share? Offer for sale is now open | Markets

Mumbai: Shares of state-owned NHPC fell over 5 per cent on Tuesday, June 2, 2026, after the Offer for Sale (OFS) to sell up to 6 per cent of the government's stake opened for subscription. The stock opened gap down at Rs 74.78, a fall of 3.12 per cent from the previous close of Rs 77.19. Amid heavy selling, the scrip dipped further and touched the intraday low of Rs 72.61, representing a dip of Rs 4.58 or 5.93 per cent. Last seen, the stock was trading at Rs 73.04, with a fall of Rs 4.15 or 5.38 per cent.…

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02

Jun

By The Press Editor

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Business

Project Shikhar: Here’s how partnership between Meesho and BSE will help MSMEs, digital sellers | Markets

Mumbai: E-commerce platform Meesho has partnered with the BSE to help Micro, Small, and Medium Enterprises (MSMEs) and digital businesses become publicly listed companies. The initiative, called 'Project Shikhar,' has been formalised through a memorandum of understanding (MoU). It aims to help high-performing independent e-commerce sellers list on the BSE's SME platform, thereby accessing the capital they need for growth.  BSE provides opportunities in the capital markets for dynamic and employment-generating businesses Sundararaman Ramamurthy, Managing Director and CEO of BSE, said that BSE launched the SME platform to provide dynamic and job-creating businesses direct access to the capital markets. "Over…

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