Business

Foreign portfolio investors (FPIs) turned net sellers in the Indian equity market in July, pulling out Rs 17,741 crore amid rising global trade tensions. According to data from NSDL, this marked the first month of net outflows after three straight months of positive inflows between April and June.The reversal in trend was driven by heavy…

Avenue Capital Group-backed Asset Reconstruction Company (India) Ltd (ARCIL) has filed its draft red herring prospectus (DRHP) with markets regulator Sebi on Friday to raise funds through an initial public offering (IPO).The IPO will be entirely an offer for sale (OFS) of up to 10.54 crore equity shares by existing promoters and shareholders. ARCIL will…

Hyderabad: Fast food giant McDonald’s has rustled up plans to invest $100 million (about Rs 875 crore) in its new global office in Hyderabad over the next couple of years and hire around 2,000 techies by 2027, a top executive said on Friday. “The investment this year and next (2026) will be around $100 million,…

New Delhi: Goods and services tax (GST) collections rose 7.5% to Rs 1,95,735 crore in July, showing signs of a pick-up from the previous month, although the growth was slower than a year ago.According to the latest official numbers, collections from domestic sources in July, based on transactions in June, were 6.7% higher at a…

Elon Musk-led Tesla to pay $243 mn in Florida crash case A federal jury in Miami has ruled that Tesla must pay over $200 million in damages after finding its Autopilot driver-assist technology was partly responsible for a fatal 2019 crash that killed 22-year-old Naibel Benavides Leon and severely injured Dillon Angulo in Florida.The jury…

Volvo Cars India has revised its earlier strategy of transitioning to an all-electric portfolio, opting instead to continue selling both electric and internal combustion engine (ICE) vehicles in the country. Electric vehicles currently account for around 25% of Volvo’s sales in India. However, the market for premium battery electric vehicles (BEVs) remains small, although the…

New Delhi: Goods and services tax (GST) collections rose 7.5% to Rs 1,95,735 crore in July, showing signs of a pick-up from the previous month, although the growth was slower than a year ago.According to the latest official numbers, collections from domestic sources in July, based on transactions in June, were 6.7% higher at a…

NEW DELHI: With due diligence for the sale of govt stake in IDBI Bank completed, Centre is all set to invite financial bids during the Dec quarter as it expects to shortlist the final bidder by the end of the financial year, a top official said Friday.“The data room process is complete for all interested…

MUMBAI: Markets regulator Sebi is working on multiple fronts to place a check on financial frauds that chip away at investor confidence. Unless the ecosystem moves beyond check-box compliance and arms investors with tools and information to hold corporate decision-makers accountable, that trust could falter, said Sebi chairman Tuhin Kanta Pandey.“Circular transactions, round-tripping of funds,…

Ever since President Trump began raising tariffs on goods from China during his first term, Chinese companies have raced to set up warehouses and factories in Southeast Asia, Mexico and elsewhere to bypass US tariffs with indirect shipments to the American market via other countries. But on Thursday, Trump took aim at all indirect American…