The initial public offer of app-based beauty and home services platform Urban Company Ltd witnessed massive investor participation, with the Rs 1,900-crore IPO getting subscribed 103.63 times on the final day of bidding on Friday, according to NSE data.Bids were received for 11,06,46,08,960 shares against 10,67,73,244 shares on offer. The Qualified Institutional Buyers (QIBs) category…
Russia’s central bank on Friday reduced its benchmark interest rate by one percentage point to 17%, signalling an attempt to support the economy as growth slows and government spending on the war in Ukraine drives the budget deficit higher.The bank, which had previously raised the key rate to 21% to curb inflation, acknowledged that economic…
Wall Street edged higher on Friday, heading for its best week in five, as investors priced in expectations of a Federal Reserve interest rate cut next week. The S&P 500 held steady near record levels, the Dow Jones Industrial Average fell 51 points (0.1%), and the Nasdaq composite rose 0.1% after setting all-time highs in…
India’s foreign exchange reserves rose by $4.038 billion to $698.268 billion in the week ended September 5, driven largely by a jump in gold holdings, the Reserve Bank of India (RBI) said on Friday.Gold reserves surged $3.53 billion to $90.299 billion, PTI reported. While foreign currency assets, the largest component of the reserves, increased by…
The Indian government is formulating fiscal incentives to boost domestic production of rare earth magnets, essential for EV motors, aiming to reduce reliance on Chinese supply. A scheme is being framed to provide targeted support to the industry, covering capital and operational expenditure. This initiative addresses supply disruptions and strengthens India’s participation in global value…
Retail inflation edged higher in August, with the Consumer Price Index (CPI) recording a year-on-year rise of 2.07%, up 46 basis points from July’s 1.61%, according to official data released by the Ministry of Statistics and Programme Implementation (MoSPI) on Friday.The ministry said in its release that food inflation, based on the Consumer Food Price…
If for any reason, you are unable to file a tax return by the due date, you can file a belated return by 31 December 2025. ITR filing FY 2024-2025: The deadline or due date for filing Income Tax Returns (ITR) for Assessment Year 2025-26 is September 15, 2025. This due date is unlikely to…
India-EU FTA: Piyush Goyal hosts European commissioners (Picture credit: X/@PiyushGoyal) India and the European Union (EU) have reiterated their commitment to finalising the long-pending Free Trade Agreement (FTA) at the earliest, with both sides stressing that a balanced and mutually beneficial pact would create fresh opportunities for businesses and people.Union commerce and industry minister Piyush…
Indian steel producers are likely to face weaker earnings in the second quarter of FY26 as falling steel prices weigh on margins, according to a report by JM Financials. The average domestic Hot-Rolled Coil (HRC) price slipped to Rs 49,600 per tonne, down by Rs 2,000 compared with the previous quarter, news agency ANI reported.The…
In terms of Russian fossil fuel procurement, India’s aggregate imports amounted to €3.6 billion. (AI image) At a time when the Donald Trump administration is demanding that India stop purchase of Russian crude, India’s oil imports from Russia rose to €2.9 billion (approximately $3.4 billion as per today’s exchange rate) in August. The figure is…
