Business

Leaders pose for a family photo during the Brics summit in New Delhi (Picture credit: Reuters) There is currently no proposal to introduce a common Brics currency, while discussions on settling bilateral trade in local currencies will continue as a way to reduce transaction costs, Sudhakar Dalela, secretary (economic relations) in the ministry of external…

Sebi proposes 2 options for expiry settlement The closing auction session (CAS) could see a change in how its closing price is used for settling index and stock derivative contracts on expiry, with markets regulator Sebi proposing two alternative methodologies after reviewing the newly introduced framework.Sebi’s consultation paper released on Saturday seeks stakeholder views on…

India’s infrastructure opportunity could hit $90 billion India’s growing data centre sector could open up a $90 billion opportunity for construction and infrastructure companies by FY35, according to a KPMG report. The opportunity is expected to rise from $30 billion by FY30 as the country adds more data centre capacity.India’s data centre capacity is expected…

Food delivery platform Zomato has introduced a separate charge for cash-on-delivery (COD) orders, with the fee varying across users and order values, checks on the company’s app showed on Saturday.The charge, listed as a “Pay on Delivery Fee” in the order bill, applies when customers choose to pay in cash at the time of delivery….

Clubbing of income is a provision under the Income Tax Act. Can a minor child’s interest income lead to an income tax notice for the father? The Income Tax Appellate Tribunal (ITAT) Delhi has held that a father cannot be subjected to a Rs 12.83 lakh penalty under Section 270A when the income declared in…

MUMBAI: In one of the busiest weeks for the primary market in recent times, six mainboard IPOs closed on Friday, along with three on SME platforms of the two bourses. The nine primary offers together saw total demand worth about Rs 1.4 lakh crore against a mobilisation target of about Rs 3,100 crore, bidding data…

MUMBAI: The much-awaited NSE IPO will open on Sept 17 and close on Sept 21 with the listing slotted for Sept 24, the bourse said on Friday. With some of the existing shareholders together selling a 5.1% stake in the country’s largest stock exchange, at the upper end of the Rs 1,700-1,785/share price band, the…

BENGALURU: Boardroom turmoil at Coforge has deepened with independent director and Nomination and Remuneration Committee (NRC) chair DK Singh resigning days after chairman OP Bhatt stepped down amid an internal audit that flagged concerns over how board-evaluation findings were presented to directors.Singh resigned with immediate effect, citing “differences and tension” between independent and executive directors…

Anthropic plans massive IPO Anthropic is planning what could be the biggest IPO in history, with the artificial intelligence giant looking to raise as much as $100 billion at a valuation of around $2 trillion. Nvidia is in talks to become a major early investor in the offering, according to two people familiar with the…

Canada’s tariff war with US is boosting local businesses The US and Canada are embroiled in a tariff war, and it may “will come at a cost” for Ottawa as the Canadian PM Mark Carney had warned. But the fight is proving a win for at rather unusual sectors: from the ice-cream counter and gift…