Business

Wipro is increasing its ownership in Aggne Global IT Services to 80% by acquiring an additional 20% stake for USD 2.1 million. This move aims to bolster Wipro’s position in the insurance technology sector, particularly in driving AI and IP-led transformations for the Property & Casualty Insurance market. The transaction is expected to conclude by

Indian equity benchmarks Sensex and Nifty extended their winning streak to a fifth consecutive session on Thursday, driven by falling crude oil prices and optimism surrounding a US-Iran peace deal. The markets closed higher, with gains seen across various sectors, despite some caution due to US Federal Reserve remarks.

National Stock Exchange flagged significant risks in its IPO filing, including regulatory changes, technology failures, and cyberattacks. Heavy reliance on derivatives trading for revenue, contributing over 78% of operating income, makes it vulnerable to Sebi’s tightening measures. AI also presents new challenges, potentially amplifying market volatility and creating new manipulation forms.

The National Stock Exchange of India has filed its draft red herring prospectus for a massive IPO, aiming to raise approximately Rs 30,000 crore. This offering is set to become India’s largest corporate market debut, surpassing the Rs 27,859 crore IPO of Hyundai Motor India.

Thousands of Indian professionals in Britain will soon stop paying dual social security contributions, a major win from the new India-UK pact. This agreement, effective July 15, exempts temporarily deputed employees from host country contributions for up to five years, significantly easing costs for Indian IT firms and boosting bilateral trade.

India is in discussions with the World Bank and Asian Development Bank for approximately $2.5 billion in loans to support urban infrastructure and job creation. This move aims to bolster capital for government spending, which has been impacted by rising oil prices and increased subsidy expenditures due to the Middle East conflict.

The Strait of Hormuz is set to reopen after a US-Iran deal, potentially flooding Asian markets with millions of barrels of crude. Refiners, already well-supplied and reducing processing, now face worries of oversupply. This shift from earlier fears of shortages is reflected in falling oil prices and market contango.

The US Treasury did not issue an extension on Wednesday for its sanctions waiver covering Russian seaborne oil, which expired at midnight. However, neither President Donald Trump nor senior administration officials clarified whether the lapse would result in the sanctions being reinstated.

Gold and silver price prediction today: Gold prices are consolidating and silver prices are exhibiting a sideways to bullish bias, says Abhilash Koikkara, Head – Forex & Commodities, Nuvama Professional Clients Group.