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The Economic Times

Business / The Economic Times

Govt to sell up to 6% stake in Hindustan Copper via OFS; floor price at 10% discount

The government will sell a 3% stake in Hindustan Copper through an OFS at Rs 514 per share, with an option to divest another 3%. The sale offers a discount to market price amid strong quarterly earnings and expansion plans.

24 Aug 2026 7:30 pm
US stocks today:US stocks open lower as high-stakes Iran, inflation tests loom

US stocks opened lower on Monday as investors weighed rising US-Iran tensions and awaited Nvidias quarterly results. The Dow, S&P 500 and Nasdaq fell at the open, while markets also focused on upcoming inflation data. Investors are assessing geopolitical risks, AI valuations and the outlook for interest rates.

24 Aug 2026 7:10 pm
Iran's currency rial hits record low as US plans more sanctions

Iran's currency has plummeted to a staggering 2.02 million rials against the US dollar, reflecting deepening economic strain as Washington gears up for more sanctions. The rial's decline is fueled by persistent sanctions and a naval blockade, exacerbated by double-digit inflation and negative growth. The ongoing conflict, now nearing six months, has further devastated an already fragile economy.

24 Aug 2026 6:57 pm
Lenskart Solutions among 4 stocks to hit 52-week highs & surge up to 20% in a month

The Sensex fell 172 points on Monday, but four BSE 200 stocks bucked the broader market weakness to hit fresh 52-week highs. Lenskart Solutions, Siemens, AU Small Finance Bank and United Spirits showed strong investor interest and recent gains.

24 Aug 2026 6:39 pm
Sebi introduces IT Resilience Index for market infrastructure institutions: Here's what you need to know

SEBI has introduced an IT Resilience Index for market infrastructure institutions to strengthen critical systems, cybersecurity and operational continuity. The 100-point framework will assess nine parameters twice yearly, with early-warning mechanisms and real-time monitoring required by February 2027.

24 Aug 2026 6:18 pm
Global Markets: Fast-fashion giant Shein shrinks value to up to $27 billion in Hong Kong IPO

Shein is set to launch its Hong Kong IPO with an ambitious goal of raising up to $1.8 billion. However, the company's valuation has plummeted to about 70% below its highs in private markets. Investor appetite is being hampered by slower growth and increased competition. In the offering, cornerstone investors will secure $383 million in shares. Trading is scheduled to start on September 1, amidst rising challenges.

24 Aug 2026 6:06 pm
India lenders' dollar debt sales top $10 billion since RBI window, ICICI Bank beats peer to lead pack

ICICI Bank is set to raise one billion dollars through the issuance of five-year bonds, marking its fourth bond sale this month. With over three billion dollars already raised via the RBI window, this move contributes to the collective bond issuance of over ten billion dollars by Indian banks. This funding initiative is aimed at bolstering their lending and investment activities.

24 Aug 2026 6:00 pm
Elan group ropes in Marriott International to manage upcoming hotel, branded homes in Gurugram

In an exciting development, Elan Group has teamed up with Marriott International to enhance Gurugram's skyline with the upcoming JW Marriott Hotel and JW Marriott Residences. Elan Group will take charge of the development, while Marriott Hotels India is set to manage both properties. This strategic alliance is geared towards delivering unmatched hospitality and exceptional services, elevating living and staying standards for future guests.

24 Aug 2026 5:31 pm
India plans first tokenised bond issue in September: Report

India is set to roll out tokenised corporate bonds next month, utilizing blockchain technology to facilitate immediate transaction settlements. The state-owned REC will be at the forefront of issuing these innovative bonds, which will require investors to possess both digital currency and securities wallets. This initial phase is designed for a limited number of selected investors, showcasing the potential of modern financial practices.

24 Aug 2026 5:27 pm
Market wrap: Tata Steel, HCL Tech, Bajaj Finance, Adani Ports top gainers and losers on Nifty and Sensex on Monday

Indian benchmark indices ended lower on Monday, with the Sensex falling 172 points and the Nifty declining 33 points as early gains faded. Broader markets were mixed, while metal stocks outperformed. JSW Steel, Hindalco and Tata Steel led Nifty gainers, whereas SBI Life, Bajaj Finance and Adani Ports declined.

24 Aug 2026 4:41 pm
ITR filing deadline: Income Tax Department asks business, professional taxpayers to file returns by August 31

The Income Tax Department has reminded taxpayers with business or professional income who are not subject to audit to file their ITRs for AY 2026-27 by August 31. More than 6.5 crore returns have been filed so far, including over 2 crore ITR-3 and ITR-4 forms.

24 Aug 2026 4:21 pm
India's sugar industry body shares a positive price outlook

Retail sugar prices are expected to decrease soon as speculative stocking eases. The industry body attributes recent price hikes to speculation and weather-related production issues. Domestic sugar stocks are currently estimated below the government's normative buffer level. The government has permitted duty-free raw sugar imports to address supply concerns.

24 Aug 2026 4:09 pm
Global Markets | Japan's Nikkei weighed down by AI stocks ahead of Nvidia earnings

The Nikkei share average in Japan experienced a downturn as stocks related to artificial intelligence faced mounting pressure due to inflation concerns and geopolitical uncertainties in the Middle East. While chip-making firms such as Tokyo Electron reported gains, other AI companies struggled. Anticipation builds around potential interest rate hikes from the Bank of Japan, with Nvidia's forthcoming earnings report seen as pivotal for the tech sector.

24 Aug 2026 3:58 pm
Interventions hold rupee on narrow leash, traders await US sanctions on Iran

The Indian rupee showed little movement on Monday, remaining steady in a limited range due to ongoing central bank actions. Market participants are keenly observing potential U.S. sanctions on Iran, while the continuing conflict in the Middle East poses risks to oil prices and India's import reliance. Meanwhile, the dollar index gained strength, contrasting with declines in most Asian currencies and regional equities.

24 Aug 2026 3:55 pm
Caution over Trump's 'unpredictable' behaviour drove India to prefer against joint presser after Modi's meeting: Sources

India preferred not to hold a joint media interaction after Prime Minister Modi's talks with President Trump. This cautious approach stemmed from President Trump's unpredictable behavior towards foreign leaders. Discussions regarding leaders' public appearances are standard diplomatic practice and routine. The US envoy Sergio Gor mentioned India's preference for no questions before the meeting. This clarification came after Gor's remarks about the interaction in France.

24 Aug 2026 3:45 pm
Bitcoin surges 22% in a week, climbs to nearly $78K as US Treasury bond-buying plan boosts sentiment

Bitcoin surged nearly 22% over the past week, trading near $78,000 on Monday, as the US Treasurys bond-buying plan boosted market sentiment. Bitcoin was last at $76,896. Ethereum gained 1.37% over 24 hours, while Bitcoin rose 0.90%. Among major altcoins, BNB, Solana, Tron and Cardano advanced up to 0.90%, while XRP, Hyperliquid and Dogecoin climbed up to 1.96%.

24 Aug 2026 3:38 pm
Gold, Bitcoin or Stocks: Whos winning the 2026 race for returns?

Gold, Indian equities and bitcoin have delivered sharply different returns in 2026. Bitcoin has led the recent rally, gaining 27% over both the past week and month, but remains down 8% year-to-date. Gold has emerged as a stronger performer, while Indian equities have lagged across the period.

24 Aug 2026 3:36 pm
Shanthi Gears shares surge 37% in two trading sessions. Here's why

Shanthi Gears shares surged 37.5% in two sessions after Tube Investments raised its stake by 2.69% through a block deal, taking its holding in the subsidiary to 73.16%.

24 Aug 2026 3:33 pm
Not just Leh, Ladakh could get two new airports soon; Thoise may start flights by December and Kargil later

Ladakh is working to expand commercial air connectivity beyond Leh, with Thoise targeting flights by December and Kargil being assessed for civilian operations later. The plans could make remote destinations such as Nubra, Turtuk, Drass and Kargil easier to reach while supporting tourism and local economic activity.

24 Aug 2026 3:28 pm
After divorce, can women central government employees add parents to CHSS? DAE clarifies

The central government has clarified that married female employees can now list their parents or parents-in-law as beneficiaries in the CHSS scheme. Even after a divorce, biological parents remain eligible for benefits if they are dependent on the employee. This guidance was prompted by inquiries from DAE employees, who also received clarifications regarding CHSS facilities available for disabled children.

24 Aug 2026 3:27 pm
Before Xi Jinping's likely India visit, Chinese money is pouring in

India is cautiously reopening economic channels with China as Chinese linked investment returns after years of restrictions following the Galwan clash. More than $500 million has entered under revised investment rules, while NSA Ajit Dovals Beijing visit and Xi Jinpings expected India visit signal improving diplomatic ties. India is balancing economic cooperation with national security safeguards and strategic scrutiny.

24 Aug 2026 3:26 pm
Air passenger service prices rise 32% in June quarter; rail fares up 3.5%

During the June quarter, there was a striking 32 percent year-on-year increase in air passenger service prices, the steepest rise amongst seven essential services tracked. Meanwhile, railway passenger prices rose by 3.50 percent and banking services saw a 6.90 percent inflation. Interestingly, both securities transactions and certain banking services experienced deflation. The upcoming producer price index data aims to accurately capture changes in producer-level pricing.

24 Aug 2026 3:25 pm
MP Steel files IPO papers; plans Rs 95 crore fresh issue, 23.07 lakh-share OFS

MP Steel Limited has submitted its Draft Red Herring Prospectus (DRHP) to SEBI as it prepares for its initial public offering. The company aims to generate capital via a fresh issuance of shares and an offer for sale. The funds raised will go towards establishing a new billet manufacturing facility, thereby boosting its backward integration.

24 Aug 2026 3:14 pm
Man had foreign bank accounts, FD in Singapore, no ITR disclosure; income tax dept sent black money notice, but ITAT Delhi cancelled the notice for this reason

Black money notice sent to man with Singapore FD and current bank a/c in his name and no ITR declaration; Know how he won case in ITAT Delhi after proving his identity theft angle with Economic Offences Wings help.

24 Aug 2026 3:05 pm
FIIs trim holdings in 11 midcap stocks over two quarters; shares fall up to 50% in 2026

FIIs reduced their holdings in around 51 BSE midcap companies during the March and June 2026 quarters. More than half of these stocks delivered negative returns in CY26, and several witnessed sharp declines of up to 50%.

24 Aug 2026 3:02 pm
Indias new capex cycle is being driven by cash-rich giants, HSBC India CEO Hitendra Dave says

India's corporate investment cycle now features financially stronger companies expanding capacity. These well-capitalized groups are using internal cash flows for growth and consolidation. This differs from the earlier debt-heavy boom which relied on bank financing. HSBC India's balance sheet is expanding significantly, crossing five lakh crore rupees. Global capital flows require fresh triggers like reforms or FDI announcements.

24 Aug 2026 2:54 pm
8th Pay Commission salary hike: How minimum salary may rise to Rs 48,000 at 5 family units; see revised estimates of Level 1-5 employees pays

8th Pay Commission calculator: Employee associations are pushing for a broader definition of family units in the upcoming 8th Pay Commission. They argue that incorporating parents into the family unit category will enhance revised salary structures significantly. This adjustment may lead to a notable increase in the basic minimum pay, highlighting the importance of supporting expanded family considerations in the proposed fitment factor.

24 Aug 2026 2:46 pm
India 10-year bond yield clings to 6.85%; traders eye oil moves amid sanctions threat

Indian government bonds remained steady as traders awaited oil price movements. US sanctions on Iran could impact global crude prices significantly. Higher oil prices may fuel inflation and widen India's current account deficit. Reserve Bank of India policymakers are open to raising interest rates. Swap rates saw little activity after a substantial spike last week.

24 Aug 2026 2:45 pm
UKMTO says tanker struck by unknown projectile off Saudi Arabia's Yanbu

A tanker sustained damage from an unknown projectile near Saudi Arabia's Yanbu port. The vessel experienced a fire on its main deck, but all crew members are safe. Yanbu serves as Saudi Arabia's primary Red Sea oil export hub. This incident follows recent disruptions and threats from Yemen's Houthi rebels. Saudi authorities have not yet provided any official comment on the event.

24 Aug 2026 2:38 pm
Gold rate today (August 24, 2026): Check 24k, 22k, 20k, 18k gold jewellery prices from Malabar Gold & Diamonds, Joyalukkas, Kalyan Jewellers, Tanishq & IBJA in Delhi, Mumbai, Hyderabad & more cities

On August 24, 2026, the price of 22k gold jewellery experienced a notable rise, with Tanishq pricing it at Rs 15,075 per gram nationwide. Competing brands like Malabar and Kalyan also reported increased rates. Additionally, IBJA provided the latest silver prices for 999 purity. It's important to keep in mind that these rates are subject to fluctuations throughout the day.

24 Aug 2026 2:35 pm
Beyond the bill: How India is rewriting the rules for MSMEs | MSME Secretary Interview

Beyond the bill: How India is rewriting the rules for MSMEs | MSME Secretary Interview

24 Aug 2026 2:17 pm
BSE shares: Prabhudas Lilladher cuts target price to Rs 4,025 as CAS hits derivatives volumes

Prabhudas Lilladher retained its Buy rating on BSE but lowered the target price to Rs 4,025 from Rs 4,850, citing a slowdown in derivatives volumes after the implementation of the Closing Auction Session (CAS). The brokerage also flagged tighter bank-guarantee norms and higher STT as near-term headwinds, while maintaining a positive long-term view on BSE.

24 Aug 2026 2:13 pm
Amazon raises prices of Echo, Kindle, Fire TV in US; check the new prices across its popular device range

Amazon has increased prices for its Echo, Kindle, Fire TV, and eero devices. Rising memory and storage component costs are pushing up hardware expenses for the company. This price adjustment follows the company absorbing these increases for an extended period. Other tech giants like Apple and Microsoft are also adjusting their product pricing. Amazon's significant investment in AI infrastructure further contributes to memory demand.

24 Aug 2026 2:11 pm
Explained: What Oriental Hotels merger with IHCL means for shareholders

IHCL will merge Oriental Hotels into itself through an all-stock transaction, with Oriental Hotels shareholders set to receive 25 IHCL shares for every 117 shares held. The merger will bring seven hotels and 825 rooms into IHCLs standalone portfolio, while simplifying the group structure and creating operational and cost synergies.

24 Aug 2026 2:10 pm
India lifts export ban on wheat flour, related products with immediate effect

The government said the earlier prohibition on the trade of Wheat products such as Wheat flour, Maida, Semolina, Wholewheat atta and resultant atta have been lifted with immediate effect.

24 Aug 2026 2:05 pm
India, Gulf bloc discuss next steps on free trade agreement

India and the Gulf Cooperation Council reviewed free trade agreement negotiations in Riyadh. Discussions focused on strengthening bilateral relations and regional developments. Both sides affirmed the importance of continued coordination for stability. The GCC is India's largest trading partner bloc by far. Bilateral trade reached USD 178.56 billion in 2024-25.

24 Aug 2026 1:57 pm
Global Market: European shares edge lower as investors await Iran sanctions details

European shares edged lower on Monday as technology stocks came under pressure, while investors awaited US sanctions on Iran, Nvidias results and fresh clues on the Federal Reserves rate outlook.

24 Aug 2026 1:37 pm
Iran digs up tens of billions in gas wealth as US energy showdown heats up

Iran has discovered a major gas field in southern Fars province containing 7.5 trillion cubic feet of gas, with 5.7 trillion cubic feet recoverable. The find includes gas condensate that Oil Minister Mohsen Paknejad said could create tens of billions of dollars in new wealth, as US pressure on Irans energy sector intensifies.

24 Aug 2026 1:28 pm
Markets brace for more hawkish ECB as energy risks threaten to keep inflation elevated

Markets are increasingly pricing in a more hawkish European Central Bank as geopolitical tensions, elevated energy costs and depleted gas inventories threaten to keep eurozone inflation high. Investors see a rising probability of further rate hikes through 2027, while resilient economic activity and fading disinflationary forces add to the case for tighter policy.

24 Aug 2026 1:23 pm
Godrej Industries group signs pact to invest Rs 200 billion in Haryana

Godrej Industries Group plans a substantial Rs 20,000 crore investment in Haryana. This initiative is expected to generate approximately 40,000 new employment opportunities across the state. Godrej Properties Limited will lead this expansion, investing an additional Rs 16,000 crore by FY28. Godrej Ventures will also invest Rs 3,500 crore in Gurugram's office infrastructure. These combined efforts will significantly boost Haryana's economic development and employment landscape.

24 Aug 2026 1:23 pm
Global Market: Chinas property crisis deepens as Evergrande founder gets life sentence

Chinas property crisis deepened despite Evergrande founder Hui Ka Yan receiving a life sentence. Falling home prices, unfinished projects, weak sales and developer debt continue to hurt household wealth and consumption. Beijing is shifting support toward technology sectors, but analysts expect the housing markets prolonged correction to weigh on economic growth for years.

24 Aug 2026 1:17 pm
Infosys, HCLTech, other IT stocks gain on Nvidias likely price hikes. Are AI bubble worries coming true?

Indian IT stocks gained on Monday as reports of Nvidias potential server price hikes revived concerns over rising AI infrastructure costs and stretched valuations. The Nifty IT index rose over 1%, with Infosys and HCLTech among the gainers. Analysts, meanwhile, continue to debate whether Indias IT sector offers an anti-AI advantage.

24 Aug 2026 1:17 pm
Claude down today: Users report issues as Downdetector shows big spike. Here's latest update

Claude AI users reported widespread service issues on Sunday night, with Downdetector showing a sharp rise in complaints involving Claude Code, Claude Chat and the app. Anthropic acknowledged the disruption and said engineers were working to restore normal service.

24 Aug 2026 1:08 pm
Muthoot Finance, Manappuram Finance shares rally up to 11% in 4 days as gold crosses Rs 1.63 lakh

Gold loan stocks Muthoot Finance, Manappuram Finance and IIFL Finance gained sharply as gold prices climbed on a weaker dollar and liquidity support from the US Treasury. Investors are watching US inflation data and Fed signals at Jackson Hole. Rising gold prices and geopolitical tensions continue supporting demand for gold-backed lending.

24 Aug 2026 1:00 pm