The Economic Times

Barclays is targeting Indias wealthiest founders and business owners as it seeks to expand its private banking business amid intensifying competition. The lender is leveraging its international network and capital-markets expertise to serve ultra-rich Indians with global assets, aiming for double-digit growth and deeper relationships with the countrys top promoters.

Following a major acquisition announcement, Persistent Systems stock has seen a remarkable rebound. In its latest June quarter results, the company reported robust revenue growth, boosting its future earnings outlook. However, upcoming costs linked to interest and wage hikes could pressure profit margins. As a result, investors can expect the stock to trade within a range influenced by the acquisition's financial effects.

In a bold move, ESDS Software Solutions is set to launch a

Bankex options saw a significant surge during Thursday's expiry session. This unusual spike occurred within minutes, causing considerable trader reaction. Indicative closing levels briefly showed a steeper Sensex decline than expected. Several Bankex put options experienced sharp premium jumps, impacting sellers. The Sensex and Bankex closed lower, while Nifty and Bank Nifty saw smaller declines.

After a robust July, foreign portfolio investors increased their equity acquisitions in August, marking a moderate uptick. Domestic institutional investors also continued their purchasing activities, though at a more measured pace. This buying spree aligned with a surge in IPO and OFS issuances within Indian markets. Interestingly, foreign investment trends shifted away from South Korea while Taiwan benefited from inflows.

BofA expects India's wires and cables industry to grow at a 14% compound annual rate between FY26 and FY29, supported by spending on infrastructure, renewable energy and power grids, as well as exports.

Indian equity markets experienced a decline on Thursday, influenced more by domestic challenges than global trends. The Nifty index faced notable resistance in the 24,300 to 24,400 range, suggesting possible weakness that may push it down towards 23,900. Foreign portfolio investors sold off shares, whereas domestic entities made strategic purchases. Furthermore, the Indian Rupee closed marginally lower compared to the US dollar.

HDFC Bank and LIC Housing Finance will challenge the NCLT ruling on the Zee Group debt settlement. The approved plan includes a small payment from Subhash Chandra as guarantor. Several lenders had opposed this repayment plan, which was approved by the majority. Government officials clarified Chandra was a guarantor, not the principal borrower.

The State Bank of India forecasts a significant surge in corporate loan prospects, aiming for 5 lakh crore as companies pivot towards investments in renewable energy and battery storage solutions. SBI remains steadfast in its goal to secure $10 billion through FCNR(B) deposits while confidently targeting a 14-15% growth in credit. With robust capital buffers, banks are better positioned to navigate future economic fluctuations.

The Indian stock market will remain open on August 28 for trading. Both NSE and BSE will operate normally on this date. Commodity markets will also function as usual on August 28. The market will next close on September 14 for Ganesh Chaturthi. Upcoming holidays include October 2 and November 10.

On Thursday, Indian markets faced downward pressure as they wrapped up trading lower amid mixed signals from global economies. Notably, Wipro's stock saw gains following its expanded partnership with Google Cloud aimed at enhancing AI implementation. Meanwhile, Lenskart's current investor is set to sell shares worth up to Rs 1,313 crore.

NSE's valuation in the unlisted market is around

The chairman of the State Bank of India underscores the nation's economic resilience, emphasizing the bank's robust standing in the financial sector. With a growth forecast of 7.5% and inflation consistent with RBI predictions, SBI is gearing up for a remarkable 14-15% rise in credit, driven by retail and SME sectors. The bank is also focusing on enhancing its fee income while aiming for a 1% return on assets.

The timeline stands in contrast to Jagdishan's previous reappointment. HDFC Bank's board had recommended a fresh three-year term for him on March 4, 2023, nearly eight months before his first tenure was due to expire. The Reserve Bank of India approved the appointment in September that year.

Banks are enhancing suspicious transaction reporting for money mule accounts. They aim for better analysis and pattern identification by the principal officer. Artificial intelligence and machine learning tools are now being deployed. This initiative follows parliamentary committee recommendations for accountability. The goal is to recover funds and prevent financial system misuse.

Walt Disneys powerful message centers around the importance of self-acceptance and embracing ones individuality. He believed that loving oneself fosters uniqueness, an essential trait in a world full of comparisons. Disneys own journey exemplified how creativity and bold, individual choices can lead to success. His enduring legacy teaches us that our differences can be valuable assets, fueling both personal growth and meaningful contributions to society.

HDFC Bank employees took swift action to block a potential digital scam targeting elderly clients. An attentive staff member noticed an anxious couple trying to send a hefty amount of money while on a video call with someone unknown. Reacting promptly, the bank team identified the suspicious activity and successfully protected the seniors from losing Rs 1.12 crore, showcasing their commitment to customer safety.

Priority Jewels secured Rs 27.45 crore from anchor investors before its upcoming public offering. The company's initial public offering will open for subscription on August 28, 2026. This maiden public offer aims to raise funds for working capital and general corporate needs.

ESDS Software Solution raised Rs 216 crore from anchor investors ahead of its Rs 720 crore IPO, opening August 28. Priced at Rs 408-429, the fresh issue will fund cloud computing equipment, data centre infrastructure and corporate needs.

Sebi has proposed waiving mandatory merchant banker appointments for eligible listed issuers raising small-value debt privately. The move aims to cut costs and delays, while safeguards would restrict exemptions to regulated companies issuing senior secured debt rated AA- or higher.

Indian equities ended sharply lower on Thursday as expiry-day volatility intensified after the first monthly expiry under the Closing Auction Session. Sensex fell 539 points and Nifty 117 points, while technical indicators signalled weakening momentum amid global and geopolitical uncertainty.

HDFC Bank plans to appeal a bankruptcy court ruling concerning Subhash Chandra. The court approved a repayment plan with a 99.97 percent haircut for lenders. HDFC Bank's claim of Rs 680 crore saw only 3.2 percent admitted. Lenders faced negligible recovery against over Rs 22,000 crore in admitted claims. The NCLT rejected objections, citing the debtor's estate value and potential future recovery.

NSEs much-awaited IPO could be nearing launch as Sebi chairman Tuhin Kanta Pandey says approval of its DRHP is close. The entirely offer-for-sale issue involves 148.9 million shares, or 6% stake, with valuation potentially reaching 5.26 lakh crore.

Alpha Wave Ventures II plans to sell up to 20.8 million Lenskart shares worth 1,313 crore at 630 apiece, a 1.7% discount. The secondary transaction represents about 1.2% stake, with Lenskart receiving no proceeds from the sale.

Sebi Chairman Tuhin Kanta Pandey said the regulator has no plans to change the Closing Auction Session despite sharp expiry-day swings. Sebi expects participation and understanding to improve, while monitoring liquidity concerns and alleged manipulation. NSE IPO approval is also nearing.

The 118-year-old Calcutta Stock Exchange is seeking Sebi guidance on reviving equity trading through interoperability or a new clearing corporation. The bourse is evaluating regulatory compliance options, with interoperability via NSE or BSE potentially offering a faster route.

Happiest Minds Technologies shares fell 6.16% after reports that ITC Infotech may acquire a 22% promoter stake. The stock settled at Rs 420.25, while investors weighed the potential transaction against the companys recent profit and revenue growth.

Mark Zuckerberg, the CEO of Meta, set out with Project OT to create an AI-driven future for the company, proposing substantial team reductions in favor of AI automation. Yet, internal pushback and fears over efficiency stymied the next phase of this initiative. Investors also expressed doubts regarding Meta's large-scale investments in AI. In the end, the company shifted its focus back to prioritizing its human employees.

At 20, Barron Trump has an estimated fortune of about $150 million, with most of his reported wealth tied to the Trump familys cryptocurrency venture, World Liberty Financial. His new $39 SOLLOS energy drink venture has added another business to his portfolio, while the reported fortune is higher than his mother Melania Trumps estimated $20 million wealth.

Indian companies show stronger sales growth entering fiscal year twenty twenty seven. Manufacturing sales accelerated significantly, driven by key industries like automobiles. Operating profit growth also jumped across major sectors, improving margins. Companies faced elevated input costs, which impacted raw material expenses. However, improved pricing power helped absorb these higher costs effectively.

India Ratings forecasts bank credit growth at fifteen percent for fiscal year twenty twenty-seven. Lenders will face profitability challenges due to new provisioning requirements. Deposit growth is expected to increase, helping to moderate loan-to-deposit ratios. Non-banking finance companies will focus on asset quality amid global headwinds.

A $30,000 Brooklyn wedding reception reportedly turned into a nightmare after the bride, groom and 30 of 112 guests fell ill with vomiting, diarrhoea, chills and abdominal cramps. A lawsuit alleges that food served at the reception was contaminated with norovirus. On the other hand, a health department investigation said the specific source of the outbreak could not be determined.

These plants are competing for sun, nutrients, water and especially pollination in this harsh environment of limited but intense sunlight.

Aragen Life Sciences has filed its DRHP with Sebi for an IPO comprising a Rs 800 crore fresh issue and an OFS. Proceeds will fund debt repayment, capacity expansion and equipment purchases. The CRDMO reported strong FY24FY26 growth, with revenue reaching Rs 2,178 crore and profit Rs 258 crore in FY26.

HDFC Bank shares fell to a fresh 52-week low after a US investor filed a securities fraud class-action lawsuit against the bank and two senior executives. HDFC Bank called the allegations meritless and said it would defend the case vigorously, adding to recent concerns weighing on the stock.

NABARD and NaBFID have signed an initial pact to strengthen collaboration. This agreement focuses on financing infrastructure projects with significant rural impact. The memorandum provides a framework for joint financing and knowledge sharing. Key areas include water, sanitation, irrigation, and post-harvest storage facilities. This partnership aims to advance rural prosperity and bridge the rural-urban divide.

US Ambassador Sergio Gor met Piramal Group Chairman Ajay Piramal discussing economic ties. Gor lauded Piramal's growing United States footprint as a strong investment example. The Ambassador also met Cummins CEO Jennifer Rumsey regarding company operations. India's trade surplus with the United States narrowed in the recent fiscal year. These meetings highlight strengthening bilateral cooperation and business expansion opportunities.

Rising sugar prices are raising concerns over higher input costs for consumer companies, with Goldman Sachs identifying Britannia Industries as the most exposed among companies it covers. Nestle India and Varun Beverages could also face pressure. Tight global supplies, festive demand and adverse weather conditions are driving the commoditys sharp rally.

Pushp Brand, backed by A91 Partners and Sixth Sense, has received SEBI approval for its IPO, comprising an OFS of up to 74.45 lakh shares. The Indore-based packaged spices company has expanded across 24 states and union territories, while posting strong revenue, EBITDA and profit growth alongside improving margins.

Systematix has initiated coverage on Timex Group India with a Buy rating and a target price of Rs 820, implying around 30% upside. The brokerage expects strong growth through FY29, with revenue, EBITDA and adjusted PAT projected to grow at CAGRs of 29.1%, 37.3% and 40.5%, respectively, supported by premiumisation, margin expansion and strong cash generation.

German auto parts maker Mahle GmbH is revisiting plans to list its Indian business in Mumbai, according to people familiar with the matter. The potential IPO could raise around $300 million to $400 million, with the company expected to appoint advisers and begin preparations soon. Mahle had previously considered an India listing in 2024 but did not proceed.

Pushp Brand has officially secured approval from Sebi for its initial public offering, with existing shareholders set to sell up to 74.45 lakh equity shares. Promoters and other investors are engaged in the Offer for Sale. Founded in 1974, the company operates under the renowned Pushp and Munimji brands and is gearing up to introduce Pushp Kadak Chai in the second quarter of FY27.

Indian IT companies are buying client technology units to secure larger partnerships. This strategy aims to boost contract values as organic growth slows down. TCS, Wipro, and HCLTech have recently made significant acquisitions. These deals involve acquiring intellectual property and engineering talent. This trend revives a past strategy of acquiring captive centers.

The Indian stock market will remain open on August 28 despite Raksha Bandhan celebrations, with the NSE, BSE, MCX and NCDEX operating normally. Investors can also check the remaining six market holidays for 2026, including Ganesh Chaturthi, Dussehra, Diwali-Balipratipada, Guru Nanak Jayanti and Christmas.

Piramal Finances first QIP since listing attracted bids worth around Rs 21,000 crore, nearly 10 times the Rs 2,100 crore on offer, amid strong demand from global investors and major domestic mutual funds. BlackRock, Goldman Sachs Asset Management and several leading Indian AMCs participated in the issue, which was priced at the upper end of the Rs 2,000-2,110 range.

Hindalco Industries has commissioned India's first Superfine PPT ATH manufacturing plant. This new facility at Belagavi will meet domestic demand for the specialty alumina product. The plant utilizes in-house technology and operates entirely on renewable energy sources. This development strengthens Hindalco's specialty alumina portfolio and enhances fire safety solutions. The indigenous production reduces import dependence and supports the wire and cable industry.

Motilal Oswal has initiated coverage on Adani Enterprises with a Buy rating and a target price of Rs 3,880, implying 25% upside from the prevailing market price. The brokerage expects EBITDA to more than double by FY29, supported by airports, new energy, roads, copper and other infrastructure businesses. It also sees faster earnings growth and easing leverage as key drivers for the stock.

Power capex stocks such as Hitachi Energy India, GE Vernova, TD Power and CG Power witnessed an uptick on Thursday, tracking Nvidias strong data-centre growth and bullish revenue outlook. Expectations of sustained AI infrastructure spending boosted sentiment, while US restrictions on Chinese power equipment added to optimism over demand for Indian suppliers.