Rajesh Mehta, once a prominent figure in Karnataka’s jewellery scene with brands like Shubh and Laabh, has seen his retail ventures wind down amidst Sebi investigations. His journey began with gold refining and manufacturing, evolving into a global player after acquiring Swiss refinery Valcambi. A planned advanced display manufacturing facility in Telangana also faces uncertainty
Union Minister Piyush Goyal urged Indian industry and MNCs to establish manufacturing, design, and innovation hubs in India, leveraging the country for global supply chains and exports. He highlighted India’s position as a credible alternative manufacturing hub and a safe investment destination, projecting it to remain the world’s fastest-growing economy for decades.
Citi CEO Jane Fraser urged India to focus on execution and long-term strengths, rather than short-term challenges. She highlighted India’s compelling structural drivers like demographics and digital infrastructure, which global investors recognize. Fraser noted that while global factors cause volatility, India’s structural story remains strong, with growing investor interest in domestic consumption, infrastructure, technology, and
Sebi has banned Rajesh Exports chief Rajesh Mehta for allegedly inflating company revenues over several years. The regulator’s investigation found significant discrepancies, particularly with its Swiss subsidiary Valcambi SA. Mehta claims a communication gap with Sebi, stating revenues are correct and the business is low-margin.
HDFC Bank is halting its agents from collecting fixed deposits and CASA funds from government entities starting July 1. This move, which the bank attributes to its expanding branch network, comes amid scrutiny over incentives paid for government fund mobilization. The bank aims to streamline its operations and governance framework.
Digital entertainment startup Kuku Technologies has confidentially filed for an IPO, aiming to raise up to Rs 3,500 crore. The company is targeting a valuation of up to Rs 15,000 crore and plans to list later this fiscal year. This move signals significant growth aspirations for the digital entertainment sector.
IndiGo is temporarily halting flights to six international destinations, including Hong Kong and Shanghai, until September 30. This strategic move aims to optimize its network amidst softer travel demand and escalating operating costs. The airline plans to resume services on October 1, contingent on improved market conditions, while maintaining a significant portion of its global
Foreign firms are increasingly cashing out of India’s booming IPO market, pocketing billions instead of raising capital for expansion. Recent listings, including major players like Hyundai and LG, saw over $5 billion flow overseas. This trend, driven by high valuations, raises concerns about capital outflows and the rupee’s stability, with policymakers questioning IPOs as exit
Indian markets opened mixed on Thursday. US stocks saw a mixed start as AI shares pulled back, but falling oil prices boosted investor mood. The S&P 500 edged up, while the Nasdaq dipped. The Dow Jones Industrial Average showed strong gains. Easing oil prices, driven by hopes of a Strait of Hormuz reopening, provided support.
Maruti Suzuki’s MD highlights flex-fuel vehicles as key to India’s goals of cutting oil imports and emissions. These vehicles run on petrol and ethanol blends, supporting farmers and the rural economy. A robust ecosystem, including fuel availability and wider model launches, is crucial for mass adoption, with government backing for biofuel transition and infrastructure expansion.
