BUSINESS

Sensex falls 219 points, nifty slips amid IT drag and weak Asian market cues

The 30-share BSE Sensex fell by 219 points to 81,414.02 in early trade, while the NSE Nifty slipped 53.6 points to 24,780, as investors adopted a cautious stance ahead of the domestic GDP data release, according to analysts. Mumbai: Benchmark stock indices Sensex and Nifty declined in early trade on Friday, dragged by IT shares and sluggish trends in Asian markets. The 30-share BSE Sensex declined by 219 points to 81,414.02 in early trade. The NSE Nifty dipped 53.6 points to 24,780. Investors turned cautious ahead of the release of domestic GDP data, analysts said. From the Sensex firms, Infosys, Tech Mahindra, HCL Tech, IndusInd Bank, Mahindra & Mahindra and Tata Consultancy Services were among the laggards. Larsen & Toubro, Adani…

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Rupee rises 19 paise to 85.29 against US dollar amid lower crude prices, foreign inflows

Forex traders noted that the rupee’s gains were limited by a strong US dollar and unstable stock markets, while investors remained cautious ahead of the domestic GDP data release. Mumbai: The rupee strengthened by 19 paise to 85.29 against the US dollar in early trade on Friday on the back of lower crude oil prices and sustained foreign fund inflows. Forex traders said a firm greenback and volatile stock markets capped the rupee’s gain even as market participants stayed cautious ahead of the release of domestic GDP data. At the interbank foreign exchange, the domestic unit opened at 85.35 and gained further to trade at 85.29 against the greenback in initial deals, registering a rise of 19 paise from its previous…

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Lokpal gives clean chit to former SEBI chief Madhabi Puri Buch

The Lokpal said that the complaints, including the one by TMC MP Mahua Moitra, filed last year were essentially founded on the report “by a known short seller trader whose focus was to expose or corner Adani Group of Companies” New Delhi: Anti-corruption ombudsman Lokpal on Wednesday disposed of complaints alleging impropriety and conflict of interest against former SEBI chief Madhabi Puri Buch based on a Hindenburg Research report, terming the charges as “presumptions and assumptions” not supported by any verifiable material. The Lokpal said that the complaints, including the one by TMC MP Mahua Moitra, filed last year were essentially founded on the report “by a known short seller trader whose focus was to expose or corner Adani Group of…

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Rupee falls 7 paise to 85.45 against dollar amid stronger greenback, rising crude prices

The rupee came under pressure due to rising global crude oil prices and weaker-than-expected domestic industrial output data for April. However, sustained foreign fund inflows and positive sentiment in domestic equities helped limit further losses, according to forex traders. Mumbai: The rupee depreciated 7 paise to 85.45 against the US dollar in early trade on Thursday as the American currency strengthened after the US federal court blocked President Donald Trump’s sweeping reciprocal tariff order, fuelling hope of ending global trade uncertainties. The local unit was weighed down by higher crude oil prices overseas and disappointing domestic data on industrial output for April. However, inflow of foreign funds and buying trend in domestic equities capped the rupee’s fall, forex traders said. At…

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Sensex, Nifty rally over 500 points on Asian market gains, US tariff relief, and foreign fund inflows

The 30-share BSE Sensex surged 504.57 points to reach 81,816.89 in early trading, while the NSE Nifty advanced 137.25 points to 24,889.70. Mumbai: Equity benchmark indices Sensex and Nifty surged in early trade on Thursday after two days of decline, mirroring a rally in Asian markets amid positive developments on the US tariffs front. Also, foreign fund inflows drove equity markets higher. The 30-share BSE benchmark gauge Sensex jumped 504.57 points to 81,816.89 in early trade. The NSE Nifty climbed 137.25 points to 24,889.70. From the Sensex firms, Infosys, Tata Steel, Tech Mahindra, HCL Tech, Tata Consultancy Services, Sun Pharma, Tata Motors and HDFC Bank were among the biggest gainers. UltraTech Cement, Bajaj Finance, Bajaj Finserv and Nestle were among the…

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Radico Khaitan withdraws brand name ‘Trikal’ for new single malt whisky

The company faced backlash on social media platforms as imagery on the product label had a resemblance to a religious iconography New Delhi: Homegrown AlcoBev firm Radico Khaitan has withdrawn the brand name ‘Trikal’ for its new range of single malt whisky as the company faced criticism over the same. In a regulatory filing, Radico Khaitan said withdrawal of brand name “is not just a business decision, it is a gesture of respect, reflection, and our unwavering commitment to honour the sentiments of our people and our country”. The company said, “We understand that concerns have been raised regarding the brand name. As a responsible and sensitive organisation, post internal review, we have decided to withdraw the brand.” Radico Khaitan is the maker…

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E-rupee in circulation grows to Rs 1,000 crore

Reserve Bank of India exploring commencement of central bank digital currency pilots on cross-border payments Mumbai: The value of central bank digital currency (CBDC) or e-rupee in circulation jumped to Rs 1,016 crore at the end of March 2025 from Rs 234 crore in the year-ago period, the Reserve Bank said on Thursday. The RBI is exploring the commencement of CBDC pilots on cross-border payments, it said in the annual report without giving a timeline. The CBDC was first introduced in November 2022 initially with a wholesale pilot, which was followed up with a retail one as well. Simplifying cross-border payments was one of the stated advantages of the CBDC, which had to be introduced in face of the challenge to the currency…

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Pixel devices now available in India via official online Google Store

Google begins direct sales of Pixel devices allowing consumers to purchase smartphones, watches, buds, and accessories directly for the first time in India New Delhi: Google on Thursday launched direct sales of its Pixel devices through the official online Google Store in India, allowing consumers to purchase smartphones, watches, buds, and accessories directly for the first time. This will complement Google’s existing online and offline retail footprint, a company statement said.Managing Director of Devices and Services at Google India, Mitul Shah, said launching direct online purchasing from the India Google Store is primarily driven by the “dynamic and evolving” Indian smartphone market. “Direct online purchasing from the Google Store in India complements our already robust retail presence — both online and in physical…

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Bank frauds jump 3 times to Rs 36,014 crore in FY25

Frauds have occurred predominantly in the category of digital payments, including card and internet, in terms of number, and primarily in the loan portfolio or advances in terms of value, the RBI report said Mumbai: The overall amount of frauds, including those related to loan accounts and digital payments, jumped by three times in FY25, primarily due to reclassification of 122 cases as per a Supreme Court order, the Reserve Bank said on Thursday. The fraud value jumped to Rs 36,014 crore in FY25, up from Rs 12,230 crore in the previous fiscal year, while the number of fraud cases went down to 23,953 in FY25 from 36,060 in FY24. “The increase in the amount involved in the total frauds reported during 2024-25…

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Pakistan sets up its first bitcoin reserve

Pakistan Crypto Council CEO Bilal Bin Saqib made the announcement at the Bitcoin Vegas 2025 conference in Las Vegas, which was attended by US Vice President JD Vance and sons of President Donald Trump, Eric and Donald Trump Jr Islamabad: In a major initiative, Pakistan has announced the establishment of its first government-backed Strategic Bitcoin reserve as it invited investment in the country’s crypto markets. Pakistan Crypto Council CEO Bilal Bin Saqib made the announcement on Wednesday at the Bitcoin Vegas 2025 conference in Las Vegas, which was attended by US Vice President JD Vance and the sons of President Donald Trump, Eric and Donald Trump Jr. Saqib, who was recently appointed Special Assistant to the Prime Minister for Crypto and Blockchain, also…

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