Business

CEO and billionaire Elon Musk denied news reports that his rocket and satellite maker SpaceX is seeking a $800 billion valuation through a share sale.“There has been a lot of press claiming SpaceX is raising money at $800B, which is not accurate,” Musk said in a post Saturday on his social media platform X. “SpaceX…

The Ministry of New and Renewable Energy (MNRE) on Sunday dismissed reports suggesting it had asked lenders to halt financing for renewable energy projects, saying no such advisory has been issued to financial institutions, PTI reported.In a statement, the ministry said it has not directed banks or other lenders to stop extending loans to renewable…

Global cues are likely to take centre stage for Indian equities in the coming week, with investors bracing for the US Federal Reserve’s interest rate decision and closely tracking foreign institutional investor (FII) activity for direction, PTI reported.Analysts said domestic markets, which ended last week largely flat, are expected to react to a mix of…

A visiting European Union delegation will meet commerce and industry minister Piyush Goyal on Monday to review progress in negotiations on the proposed India-EU free trade agreement (FTA), as both sides push to conclude talks within a year-end deadline, an official told PTI.The meeting comes amid efforts to narrow differences in critical areas covering both…

India’s power distribution companies need to move faster towards intelligent, reliable and consumer-focused networks, with technology adoption paired with greater consumer engagement, Power Minister Manohar Lal Khattar said on Sunday.Addressing a two-day National Conference on the use of artificial intelligence and machine learning in the power distribution sector at Bharat Mandapam in New Delhi, Khattar…

Aadhaar-based verification is set to move further away from paper trails, with the Unique Identification Authority of India (UIDAI) preparing to notify a new rule mandating registration of entities that seek offline Aadhaar verification, reported PTIThe proposed rule aims to discourage practices such as hotels, event organisers and similar entities collecting photocopies of Aadhaar cards…

SoftBank-backed digital commerce ecosystem AceVector Ltd has filed updated draft red herring prospectus (UDRHP) with markets regulator Sebi for its proposed initial public offering, which includes a fresh issue of shares worth Rs 300 crore, according to PTI.The IPO will also feature an offer for sale (OFS) of 6.38 crore shares by existing shareholders. Promoter…

State Bank of India’s mortgage loan book crossed the Rs 9 lakh crore mark in November, with strong traction in retail, agriculture and MSME (RAM) segments expected to drive overall credit growth to 14 per cent in the current financial year, Chairman C S Setty told PTI.The RAM portfolio, which accounts for about 67 per…

Wakefit Innovations Ltd has raised Rs 186 crore ahead of its initial public offering, with Steadview Capital, WhiteOak Capital and Temasek-backed Capital 2B collectively buying shares through secondary transactions before the public issue opens.As disclosed in a public announcement, Steadview Capital Mauritius, WhiteOak Capital and Capital 2B acquired a combined 95.57 lakh equity shares at…

Last week, half of the ten most valued companies managed to expand their market capitalisation. Together, five firms added Rs 72,284.74 crore in value, with Tata Consultancy Services (TCS) and Infosys accounting for the bulk of the gains. Over the same period, the BSE benchmark closed with a narrow rise of just 5.7 points, while…