Business

Mumbai: Pharmaceutical company Sudeep Pharma made a spectacular debut on the stock market on Friday, rewarding its IPO investors with handsome gains. Shares listed at a significant premium, reflecting strong investor enthusiasm. On the BSE, the stock opened at ₹733.95 per share against its issue price of ₹593, marking a 23.77% gain. Meanwhile, on the NSE, it started at ₹730, up 23.10% from the issue price. This listing largely met expectations set by the grey market premium (GMP), which was around 20% prior to listing. Strong Investor ResponseSudeep Pharma’s IPO witnessed overwhelming demand. Open for subscription from 21 to 25 November, the IPO was subscribed 93.71 times overall. Qualified Institutional Buyers (QIBs) bid 213.08 times, marking one of the most aggressively sought entr...

New Delhi: The cryptocurrency market has been experiencing significant volatility in recent days, with sharp gains and steep declines creating uncertainty among investors. Amid this turbulence, Pi Network has stood out with notable gains, surpassing even Bitcoin in short-term returns. Market Overview On Wednesday, the crypto market saw another downturn. Over the past 24 hours, the total crypto market capitalization fell by 0.85%, reaching $3 trillion at 10:30 AM. Most major cryptocurrencies, including Bitcoin, Ethereum, Binance Coin, and Solana, traded lower during this period. Bitcoin, the world’s most expensive cryptocurrency, continues to struggle below $90,000, marking a 4% decline over the past seven days. Pi Network Outperforms Bitcoin Investors in Pi Network, however, ha...

Gautam Adani’s $1.2 billion copper smelter in Gujarat—one of India’s most ambitious metal-processing projects—is facing a severe shortage of raw materials, leaving the plant running far below its designed capacity. Despite plans to double output in the next four years, the facility is currently unable to secure even a fraction of the copper concentrate required. Severe Shortage Hits Adani’s Kutch Copper Plant According to a Bloomberg report, the smelter has an annual capacity of 500,000 tonnes, but its operations have been crippled by a global squeeze in copper supply. Kutch Copper Ltd., which began production in June, has received less than one-tenth of the raw materials needed to run at full capacity. Customs data shows that by October, the company had imported only 147,000 tonn...

New Delhi: Marriott International, the world’s largest hotel chain by room count, is poised to make India its third-largest market globally. Currently, Marriott has the most hotels in the United States, followed by China, Canada, and Mexico, with India climbing up the ranks rapidly. India’s Rapid Expansion Marriott operates 187 hotels in India with more than 33,000 rooms. According to Rajeev Menon, President of Marriott Asia Pacific, an additional 200 hotels are in the pipeline, which will solidify India as the chain’s third-largest market within the next 2–3 years. When it comes to total rooms, Marriott already leads India, though Taj Hotels (Tata Group) currently holds the top spot by hotel count with 255 properties. Menon projects that in five years, Marriott will have over 60,000...

Copper Demand Soars GloballyTraditionally, crude oil has been the “black gold” powering Gulf economies. For Saudi Arabia, oil remains vital, but the kingdom is now diversifying its focus towards copper (red gold) and gold (yellow gold) as part of its long-term economic strategy. Saudi Arabia’s Plan Under its “Vision 2030” initiative, Saudi Arabia aims to make mining of copper, gold, and other minerals the third pillar of its economy, reducing reliance on oil. The government estimates trillion-dollar reserves of phosphates, copper, and bauxite, crucial for the global energy transition, including electric vehicles and renewable energy. Mining Licenses and Global Partnerships Saudi Arabia plans to quadruple mining revenue by 2030 and is inviting companies worldwide to establish op...

New Delhi: After a decade in the corporate world, Vijay Singh made a life-changing decision—he left his high-pressure MNC job to pursue organic farming. Hailing from Sunhada village in Baghpat, Uttar Pradesh, Vijay developed a unique high-value intercropping farm model that maximizes profits at minimal cost. Today, he is earning lakhs annually while promoting chemical-free agriculture. Vijay, an MBA, was inspired by a bio-organic market in Delhi in 2015, which motivated him to adopt natural farming techniques. He now cultivates advanced sugarcane varieties like CoS 8272 and uses ring pit technology to revolutionize traditional farming practices. His key to success lies in value addition—processing sugarcane into jaggery and flavored variants, increasing profit margins by up to 75%.Leaving...

India’s largest IT company, Tata Consultancy Services (TCS), has set an ambitious target to become the country’s biggest AI-driven technology services provider. In a major strategic move, the company has created a new entity and secured $1 billion (₹8,820 crore) funding from global private equity firm TPG to build large-scale AI data centres across India.TCS Forms ‘HyperVault’ to Build India’s Largest AI Data CentresTCS has announced the formation of a new company named HyperVault, which will focus exclusively on designing and building advanced AI-ready data centre infrastructure. Under this joint venture, TCS and TPG will collectively invest up to ₹18,000 crore over the next few years. Additional capital will be raised through debt to accelerate infrastructure development. HyperVault wi...

When it comes to India’s most expensive homes, Mukesh Ambani’s Antilia often comes to mind. However, Laxmi Vilas Palace in Vadodara, Gujarat surpasses it both in size and grandeur, standing as the largest royal residence in India and one of the largest in the world. Spanning nearly 550 acres, Laxmi Vilas Palace is 500 times larger than Antilia, which occupies just 1.12 acres. Built in the 1880s by Maharaja Sayajirao Gaekwad III, the palace is named after his wife, Maharani Lakshmi Bai, whom he married in 1880. Designed in the Indo-Saracenic style, the palace houses numerous priceless artifacts and a rich collection of royal memorabilia. Bigger and Pricier than AntiliaWhile Antilia is valued at around ₹15,000 crore, Laxmi Vilas Palace is estimated at ₹24,000 crore, making it both more...

Once the world’s strongest currency, the US dollar is gradually losing its shine. Recent actions by the US government, including tariffs imposed by former President Donald Trump and the Federal Reserve’s aggressive policies, have weakened the dollar’s global standing. This decline, analysts say, could present a significant opportunity for India to reduce its dependence on the greenback. According to a Bloomberg report prepared for the New Economy Forum, emerging economies, often referred to as the Global South, are increasingly losing confidence in the dollar. Factors behind this trend include Trump-era tariffs, the rising US debt, the breakdown of long-standing agreements with Middle Eastern countries, and growing competition from China. The report notes that these developments have fu...