24 C 
Aurobindos arm, Acrotech Biopharma, launches Adquey in US
The launch marks Acrotechs entry into the US dermatology market and expands the companys commercial presence into a new strategic therapeutic area
Growpital case: Sebi to refund money directly to investors for first time
Securities and Exchange Board of India has ordered a refund for investors affected by Growpital's scheme. The refund will involve 192.88 crore raised from over five thousand investors through unregistered entities. Sebi will verify investor details with Cashfree Payments before issuing refunds proportionately. Investors will receive interest at a rate of 12% per annum from the date of the interim order.
OpenAI sued after 700-agent AI swarm hacked Hugging Face: What lawsuit says
OpenAI faces a lawsuit from the nonprofit LASST after its AI agents gained unauthorized access to Hugging Face's systems during a test.
IPO rush continues: 50-plus companies file DRHPs ahead of Sebi deadline
September 2025 marked a significant increase in Draft Red Herring Prospectuses submitted to Sebi with 55 submissions. Companies with a March 31 fiscal year end rushed to file before the September 30 deadline. Failing to meet this deadline could complicate their IPO plans, requiring updated audits and due diligence. The IPO market has surged since July, recovering from previous delays in activity.
Catch them young: ICICI Lombard eyes 18-35-year-olds with digital health cover
For ICICI Lombard, the immediate objective is to get younger customers into its customer base early, keep them engaged and eventually move them toward higher-value products as their financial capacity and insurance requirements grow.
Hospital stocks slip after SC query on steep cancer drug markups
In a landmark ruling, the Supreme Court of India highlighted troubling markups on cancer drugs enforced by hospitals, urging a probe into reports of patients being directed to specific pharmacies for their medications. Following this announcement, the BSE Hospitals Index faced a steep 5% drop, leading to notable losses for industry giants like Apollo Hospitals and Fortis Healthcare.
Big Four alumni build boutique consulting rivals, targeting startups, PE and VC firms
A new wave of mid-tier consulting firms, founded by former Big Four partners, is targeting startups, private equity and venture capital clients with specialized services. They offer equity, independence and flat structures to lure senior talent.
Dilip Buildcon aims to double coal output by FY29 in major mining push
The firm aims to achieve 57 million tonnes of coal output by FY29 and expand into bauxite, shifting 75% of profits from traditional EPC to long-term mining assets, MD & CEO Devendra Jain told Mint.
Amazon expands ultra-fast delivery service Amazon Now to over 120 cities
Amazon Now has doubled its footprint in two weeks, bringing minute-level deliveries to customers in cities including Amritsar, Abohar, Jalandhar, Ambala, Mangalore, Manipal, Vizag, Kochi, Changanasser
Stocks in news: Infosys, HDFC Bank, Jio Financial, IRFC, NCC and Blue Dart
Indian equity benchmarks experienced a decline over two sessions due to profit booking and rising oil prices. The Nifty 50 index closed down by 95.75 points, reaching 22,620.45. Jio Financial Services and Allianz Europe B.V. have invested in their joint venture for business operations. Infosys has expanded its partnership with ABN AMRO for AI-driven transformation initiatives.
Flipkart weighs ESOP cash-out amid staff unease, senior departures
Flipkart is considering another Esop programme that may allow eligible employees to cash out a larger share of their vested holdings, as uncertainty over its IPO and future liquidity events causes unease among employees
Usual October cheer could be missing after rout last month
As investors approach October, the landscape is shaped by high crude oil prices, increasing bond yields, and continued foreign selling. Historically, October has favored positive market returns, yet recent downturns could challenge this pattern. With the earnings season on the horizon, corporate profitability, particularly within large-cap stocks, will be under scrutiny.
Banks pitch cheaper dollar funding route to large corporates via domestic bonds
The plan is aimed at companies that already have dollar revenues or offshore operations, since they are better placed to absorb the currency exposure the swap creates.
Sebi, RBI join hands to make onboarding easier for FPIs
In a proactive move, the Securities and Exchange Board of India has teamed up with the Reserve Bank of India to enhance various regulatory procedures. Their primary focus is on making it easier for foreign portfolio investors to enter the market. The launch of the India Market Access portal in September 2025 marked a significant step forward in this initiative.
The US economy grew 2.2 percent in the second quarter from April to June, the Commerce Department announced recently. Consumer spending and business investment helped propel the growth of the economy. The large increases in imports cut into GDP growth. Spending by consumers was up 3.8 percent, while investment by businesses, less housing, climbed 9 percent. The revised estimate was sharply higher than the 1.5 percent the government had estimated in July.
Mattel chief Kreiz to step down, join Paramount Skydance as co-CEO
MATTEL-CEO:Mattel chief Kreiz to step down, join Paramount Skydance as co-CEO
Google restricts access to new AI model over safety concerns
Google said Argon is designed to refuse requests that could help carry out cyberattacks or develop chemical, biological or nuclear weapons
RBI net short forward position rises to $200 b
In August, the Reserve Bank's net short forward positions increased significantly to $200 billion. This rise follows a net short position of $136 billion recorded in July. Long dollar positions also saw an addition, indicating ongoing market adjustments. Economists suggest that the RBI is facing challenges in managing these short positions effectively.
Bankrupt Fund Founder Weiss Agrees to Auction Art at Sothebys
Bankrupt hedge fund founder and prodigious art collector George Weiss has struck a deal with Sothebys Inc. to auction more than a dozen pieces in his collection later this year in order to repay a Bank of America Corp. loan.
Rating upgrades moderate in H1 as India Inc faces multiple headwinds
Rating upgrades moderated in the first half of the financial year as companies faced headwinds from the West Asia conflict, rising crude prices, higher input costs and evolving US tariff measures. Downgrades also declined, though rating agencies cautioned that this may not capture cases where issuers do not cooperate with adverse reviews.
HDFC Capital, Shalimar create Rs 750 crore platform for UP real estate
HDFC Capital Advisors has joined forces with Shalimar Corp to establish a significant Rs 750 crore real estate development platform. This collaboration aims to enhance residential and mixed-use projects in prominent Uttar Pradesh cities like Lucknow and Varanasi. The venture envisions a development potential surpassing 5 million sq ft, inclusive of around 3,000 residential units.
Tata Trusts seeks hearing on Venu Srinivasan's complaint before charity commissioner
Tata Trusts has sought a hearing with the Maharashtra charity commissioner in response to a complaint lodged by Venu Srinivasan. This complaint claims there have been governance issues within the Sir Dorabji Tata Trust's management, particularly concerning the conduct of specific trustees. Srinivasan has urged the commissioner to investigate potential repercussions for those trustees involved.
Traders call off 'No UPI Day' protest plan after meet with FM Sitharaman
Finance minister Nirmala Sitharaman met small-trader representatives on Wednesday, following which the AICPDF and AIMRA withdrew their proposed No UPI Day protest on October 2.
Lucknow (Uttar Pradesh) [India], September 30: Growing investor interest in Dholera was evident in Lucknow as RWI Developers hosted an investor-focused presentation for its upcoming plotted development, Estate One10, at The Taj Palace, Lucknow. The event, which was initially planned for a limited group of serious investors, drew nearly twice the expected participation, with a strong turnout of investors and prospective buyers attending the session.
Indian entrepreneurs increasingly eye global residencies, ramp up AI investments: HSBC report
Singapore was the preferred destination among Indian respondents, with 14% naming the city-state as their choice
It's save dynasty rally: Shivraj Singh Chouhan
The BJP criticized the INDIA bloc's upcoming 'Save Democracy' campaign, referring to it as a 'Save Dynasty' initiative. Union minister Shivraj Singh Chouhan accused the opposition of lacking a unified agenda and suggested their efforts were an excuse for electoral failures, emphasizing their focus on attacking constitutional institutions instead of self-reflection.
The October Horoscope 2026 points to one especially lucky day for each zodiac sign. For some signs, the best days of the month could open the door to a fresh start.
Darjeeling 'Toy Train' chugs into top 50 global destinations in 2027
The Darjeeling Himalayan Railway (DHR) has been named among Lonely Planets 50 Best in Travel 2027 destinations, with Darjeeling recognised as a top destination for a toy-train journey.
New Delhi [India], September 30: The Union Cabinet has approved a 23,731 crore National Circular Bioenergy Scheme and several of the capabilities targeted by GOBARdhan are already part of ORSL's operating and technology platform.
Apple aims to sell 6 million iPhone Duo units this year, priced at $1,999. Its success relies on increased production while IDC predicts a 13% growth in foldable phone sales.
Trump, AI majors pledge AI safety; experts flag lack of enforcement
Accord calls for internal controls, independent audits and board oversight, but experts flag weak enforcement, lack of common safety standards and concerns over auditor independence
Aurobindo Pharma's Acrotech enters US dermatology market with Adquey launch
To support the launch and expand this therapeutic segment, the company has set up a dedicated dermatology business unit, the filing said.
SAMMMM is a growing self-care brand, targeting Gen Z and Gen Alpha consumers. Launched in 2005, it was co-founded by a father-daughter duo.
Scotch whisky prices in India have reportedly fallen 10-15% after the India-UK trade deal cut tariffs on British whisky. Johnnie Walker Black Label and J&B are among brands seeing price cuts in key states, as per the report.
HMD organized the ET Business Excellence & Leadership Summit 2026 at the Radisson Hotel in Delhi. The summit brought together leaders to discuss brand development, innovation, and sustainability. Panel discussions featured prominent voices discussing resilience and leadership in uncertain times. A felicitation ceremony honored individuals and organizations for their contributions across various sectors. Key insights emphasized the importance of collaboration and strategic thinking in driving future success.
From a software start-up to an employability-focused education group, Dr Akhil Shahani reflects on testing ideas, measuring skills, and peer learning that shaped his work.
From 1 truck to 800: What Ashok Goyal learned about leadership through peer learning
From an 8-person 1 BHK in Mumbai to 800 vehicles across India, BLR Logistiks founder Ashok Goyal reflects on the decisions, trust, and peer learning that shaped his leadership.
Manufacturing adds 1.4 million jobs in FY25
The number of people engaged in registered manufacturing increased 7.19% year-on-year to 21 million in 2024-25, while total emoluments rose 12.08%.
BMW layoffs: German carmaker to use AI to drive 20% cut in senior management roles
BMW plans to use AI to cut 20% of its senior management roles, affecting around 100 high-level positions. The move is part of a wider cost-cutting drive as the German carmaker seeks to revive profitability amid challenges in China and elsewhere.
IRDAIs proposed distribution norms ruffle feathers of LIC agents, broker body
Cost efficiency should not be pursued in a manner that reduces the number of active agents or makes the profession economically unsustainable.
Reliance officials meet Bengal CM Adhikari over fresh investments, project expansion
Discussions span data centres and AI cloud services, an international cable landing station, coal gasification, a food park, road infrastructure and a multi-speciality hospital, official says
Explained | As US giants OpenAI and Anthropic warn about risks, how is China guarding its AI models?
China's AI oversight differs from the US by implementing govt-mandated safeguards rather than relying on voluntary commitments. New guidelines emphasise 'safety and controllability' in AI development, as Beijing focuses on regulatory oversight parallel to evolving AI capabilities of its companies.
Avalon Tech block deal: Promoters divest 6% stake worth Rs 871 crore
Avalon Technologies saw an Rs 870.6 crore bulk deal as three promoter entities sold 40.08 lakh shares, representing 6% equity. Kotak Mahindra Mutual Fund bought 24.02 lakh shares, while Nomura retained its Buy rating and raised its target price.
Reliances 13,000 crore bond issue draws strong demand; SBI said to be largest investor
The issue included a green shoe option of 1,000 crore
Ahead of Market: 10 things that will decide stock market action on Thursday
Indian equities declined for a third straight session, with Sensex losing 49 points and Nifty falling 96 points as rising bond yields weighed on sentiment. Broader markets gained, while analysts highlighted crude prices, inflation and monetary policy uncertainty.
HDFC Bank Group General Counsel Sudhir Kumar Jha retires after 22 years
Sudhir Kumar Jha has retired from HDFC Bank effective September 30, 2026, concluding his 22-year tenure. Following his retirement, Jha will no longer hold a senior management position at the bank. HDFC Bank recognized Jha's significant contributions to its legal and compliance framework over the years. Jigar Shah is set to succeed Jha as General Counsel starting October 1, 2026. The transition marks another leadership change within the HDFC Group.
Jio Financial, Allianz pump Rs 640 crore into general insurance JV via rights issue
Jio Financial Services and Allianz Europe B.V. have each invested Rs 320.05 crore in Jio Allianz General Insurance through a rights issue, collectively infusing Rs 640.1 crore into their 50:50 joint venture. The insurer will use the funds for business operations, while Jio Financials total investment has reached Rs 375 crore.
Market Trading Guide: JM Financial, IDFC First Bank among 5 stock recommendations for Thursday
Analysts recommend five stocks for ThursdayJM Financial, IDFC First Bank, Clean Science, City Union Bank and BEMLciting technical signals and support levels. Cautious sentiment persists amid higher oil prices, elevated bond yields, inflation concerns and uncertainty over global monetary policy.
Gravity raises $15 mn in funding led by 3one4 Capital and Info Edge Ventures
Capital to be used to strengthen Gravitys technology, distribution and key-account infrastructure, support category expansion and build brand capabilities
IIFCL UK moves NCLT against Reliance Infrastructure arm over 1,745 cr dues
Lender seeks insolvency proceedings against Mumbai Metro One over alleged ECB default; NCLT flags limitation, Section 10A and other defects in the petition
Promoters dilute 6% stake in Avalon Technologies for Rs 871 crore
Avalon Technologies saw three of its promoter entities divest a collective 6% stake for a substantial Rs 871 crore via bulk deals, bringing their ownership down from 44.39% to 38.4%. In this strategic move, Kotak Mahindra Mutual Fund bought 24.01 lakh shares priced around Rs 2,171. The deal was struck with share prices fluctuating between Rs 2,171.03 and Rs 2,173.35, while Avalon Technologies closed slightly lower at Rs 2,294.
Walmart bets on AI to drive the next phase of retail shopping
Walmarts AI journey has four phases: answering, recommending, acting with supervision, and acting autonomously
RBL Bank gets show cause notice with GST demand of over Rs 173 crore
RBL Bank said it received a showcause notice from Maharashtra GST authorities proposing a demand of over Rs 173.08 crore, including interest and penalty, over alleged wrongful input tax credit availment in FY23. The bank said it will respond and expects no material financial impact, citing favourable orders on an identical issue.
Canon India targets 10,000-plus retail network as smaller cities drive growth
Canon India also seeks to grow its non-imaging businesses, including surveillance and security, medical diagnostic imaging and industrial printing
Simple Energy raises 1,750 crore in Series C led by Dr Velumanis family office
The latest round is the companys largest funding raise to date, coming three months after its 250-crore Series B round in June
IBAI flags job, growth risks from IRDAIs proposed distribution reforms
The Insurance Brokers Association of India (IBAI) has warned that IRDAIs proposed changes to insurance distribution could shrink distribution, increase job losses and slow insurance growth. IBAI supports measures such as banning compulsory insurance bundling with loans, suitability checks and claw-backs for proven mis-selling.
HDFC Bank appoints VN Srivatsan as Chief Compliance Officer for 3-year term: Who is he?
HDFC Bank has appointed VN Srivatsan as Chief Compliance Officer for a three-year term from January 2027. Currently with ICICI Bank, Srivatsan has 34 years of experience, including 25 years in BFSI and nearly a decade in compliance and regulatory inspection.
Member of Tata Trusts seeks governance probe as rift deepens
Tata Trusts senior trustee Venu Srinivasan has sought an investigation into why the philanthropic arm is increasingly intervening in the commercial affairs of Tata Sons.
IndiGo taps ex-Tata Digital executive to drive loyalty, marketplace, financial services
The appointment comes as airlines increasingly look beyond ticket sales to monetise customer relationships through loyalty programmes, travel marketplaces and financial services.
Noel Tata files a caveat with Charity Commissioner on Venu Srinivasans complaint
The move comes as Srinivasan seeks a regulatory inquiry, a restraining order against Tatas participation in related meetings, and to preserve the SDTT boards status quo
Feud escalates at Tatas as Srinivasan moves Charity Commissioner against SDTT
SDTT is a public charitable trust and its substantial shareholding in Tata Sons cannot result in the Trust itself assuming the functions of a commercial enterprise or participating directly in the conduct of Tata Sons business affairs
Feud escalates at Tatas as Srinivasan moves Charity Commissioner against SDTT
SDTT is a public charitable trust and its substantial shareholding in Tata Sons cannot result in the Trust itself assuming the functions of a commercial enterprise or participating directly in the conduct of Tata Sons business affairs
Indias external financial health improves marginally in Q1 FY27 amid global headwinds
Indias external financial position improved marginally in Q1 FY27, RBI data showed. External debt rose $15.4 billion to $778.2 billion, while the debt-to-GDP ratio eased to 20.8%. Net international liabilities increased to $220.3 billion but remained below year-ago levels.
Gandhi Jayanti 2026 History: Why India observes October 2, significance, theme and freedom struggle
Gandhi Jayanti 2026 Theme, History: October 2 marks the 157th birth anniversary of Mahatma Gandhi, whose leadership, Satyagraha and commitment to non-violence played a major role in Indias freedom struggle. The day is observed as a national holiday in India and is also recognised by the United Nations as the International Day of Non-Violence, highlighting Gandhis enduring global legacy.
UP dairy sector draws 695 crore investment proposals from 22 companies
Twenty-two companies proposed investments worth 695.18 crore across Uttar Pradesh at the UP International Trade Show, with the projects expected to create over 2,500 jobs
Air France-KLM says it won't split long-haul operations between Mumbai, Navi Mumbai airports
The stance deepens an ongoing stand-off between Adani Airport and airlines, as the countrys second-largest airport operator prepares to redevelop Mumbais existing airport and seeks to redistribute capacity.
Geojit Financial Services reshuffles top deck; Jones George to take over as MD
Geojit Financial Services will transition leadership on October 1, 2026, with founder C.J. George becoming Executive Chairman and Jones George taking over as Managing Director. The move forms part of the companys succession plan and technology-led growth strategy.
Jio Finance, Allianz Europe invest 320 cr each in JV Jio Allianz General Insurance
The aggregate investment by Jio Finance in the JV to date is 375 crore
Focus on claim ratios, not commissions: Bajaj General CEO on insurance reform
Bajaj General Insurance's MD highlights the need to focus on claim ratios instead of distributor commissions. The insurance regulator recently proposed expense caps for better customer protection. Industry discussions are ongoing to gather insights before formal representations are made. Swiss Re Corporate Solutions will collaborate with Bajaj General to provide tailored insurance solutions for globalizing Indian corporates.
Novo eyes childhood obesity pilots in India, seeks wider public-sector role
Next-gen pipeline spans higher-dose, combination and oral therapies; company says it can meet India's demand for GLP-1 medicines as the market expands
Zerodha founder Nithin Kamath says nearly all of the brokerages leaders have risen internally, with many joining early in their careers. He also discussed Zerodhas long-term approach to social impact, questioning whether mandatory CSR spending delivers meaningful outcomes.
ASK expands asset-management business with SageOne buy
Though the companies did not disclose the transaction's financial details, the deal size is likely in the range of 2,000 crore (approximately $200 million).
WeWork co-founder Adam Neumann reflected on the company's rushed IPO attempt in 2019. He acknowledged a shift from its original community-building mission to a profit focus, leading to significant losses and corporate governance issues. Neumann resigned as CEO after the company withdrew IPO plans.
Personal loan growth rises to 16.9% in August: RBI
Bank credit growth strengthened across major sectors in August, with personal loans rising 16.9% year-on-year to 72.9 lakh crore, up from 11.9% a year earlier, RBI data showed.
State Bank of India buys nearly 40% of Reliance's $1.35 billion debt sale
The state-run bank is estimated to have bought bonds worth nearly 50 billion rupees, or about 40% of the offering
Bank deposit rates fall as fresh lending rates rise in August
In August, banks lowered the weighted average rate on fresh rupee term deposits to 5.67%. At the same time, the average lending rate on new loans increased to 8.61%. Public sector banks experienced a decrease in deposit rates, while private banks faced a similar trend. Lending rates varied based on loan types, with personal loans seeing a significant increase.
Transport Corp announces key details for Rs 150 crore share buyback plan
Transport Corporation of India will buy back up to 15.63 lakh shares for Rs 150 crore at Rs 960 each. The tender offer has October 9, 2026 as its record date, with 15% reserved for eligible small shareholders.
Chandra, Venu didn't inform Tata Sons board of a second family firm deal
The Karnataka government has allotted land for a 330-crore project proposed by Hanno One, a company owned by the family of Tata Sons chairman N Chandrasekaran. The project had business relations with the Venu Srinivasan-led automaker.
Tata Group stock! BofA turns bullish on Trent, initiates coverage with Buy, pegs 17% upside
BofA Securities initiated coverage on Trent with a Buy rating and Rs 3,075 price target, citing its differentiated retail model, Zudio and Westside growth, integrated technology, supply chain capabilities and long-term market share opportunities.
HDFC Bank names ICICI veteran banker V.N. Srivatsan as Chief Compliance Officer
HDFC Bank has appointed V.N. Srivatsan as its Chief Compliance Officer for a three-year term, effective from his joining date on January 4, 2027. Srivatsan, currently Head Compliance: Overseas Banking and Subsidiaries & Data Privacy Officer at ICICI Bank, has around 34 years of professional experience, including 25 years in BFSI.
JSW Cement to merge its listed arm Shiva Cement with itself; board approves 5:41 swap ratio
The merger would create a single cement platform that would realise operational and financial synergies
BBD 2026 Smartphone Buying Guide: Ai+ Smartphones to Consider This Festive Season
New Delhi [India], September 30: The festive season is one of the biggest smartphone upgrade moments of the year. But choosing a new phone increasingly comes down to a simple question: what matters most to you?
AM Green bags 585 million green ammonia deal
Emerges sole winner of the Asian lot in the H2Global auction, to produce ammonia in Kakinada
Simple Energy raises 1,750 crore in equity funding for expansion projects
This marks Simple Energys largest funding round, taking the total funding to 2,530 crore to date
Campus hiring stays resilient, but employers get choosier: Aon report
India's campus hiring market remains resilient but selective, with employers prioritising skills and job readiness. 56% plan to hire more CA/CS graduates, while campus pay is projected to rise 2%-7% across major streams.
Milky Mist commissions 25 MW of solar capacity; achieves 100% renewable energy
The additional renewable capacity is expected to reduce the companys dependence on conventional power and help avoid approximately 16,000 tonnes of carbon emissions annually
Third Wave Coffee forays into Kerala with two outlets in Kochi
This market expansion complements the brands recent new market entries across Visakhapatnam, Jalandhar, Lucknow, and Ludhiana, further strengthening the presence across Indias high-potential emerging markets
Delhi to get 'Intelligent Traffic Management System': Objective, how it will work and what changes
The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has approved the 1,789.52 crore project to implement the Intelligent Traffic Management System in the national capital. The system will manage city traffic with real-time data, adaptive signals and more.
Hockey glory beckons? India women march into final with Asiad gold in sight after 44 years
India's women's hockey team secured a significant victory against South Korea with a score of 2-0. Ishika Chaudhary and Salima Tete scored the goals to ensure their place in the final. The team's next challenge is a match against defending champions China. India dominated possession throughout the match and earned numerous penalty corners. South Korea attempted a late comeback, but India's defense remained strong to secure the win.
Beyond the 7% headline: S&P maps the forces driving Indias next growth phase
Indias economy is set to grow 7% in FY27, according to S&P Global, which sees domestic demand, private investment, manufacturing, trade, energy security, renewable power, digital infrastructure and technology shaping Indias next phase of economic growth.
