Top Business Headlines
India shouldn't depend on other countries: PM Modi on critical minerals
Prime Minister Narendra Modi said India should not rely on other countries to process critical minerals used in EVs, batteries, electronics and defence. "Do you feel India should depend on other countries for processing the critical minerals that power our future? I certainly don't!" he said. The Cabinet has approved a ₹2,814 crore scheme to boost domestic processing.
Amul raises butter and ghee prices
Amul has increased the prices of ghee and butter ahead of Diwali, with the revised rates coming into effect immediately, reported NDTV. The price of a 1-kg ghee carton has increased by ₹50, from ₹630 to ₹680, while a 500-gram butter pack now costs ₹15 more. Earlier in May, Amul had raised milk prices by ₹2 per litre across India.
Dabur global CEO Mohit Malhotra resigns after 30 years at the firm
Dabur India said global CEO Mohit Malhotra has resigned after over 30 years with the company to pursue an overseas opportunity. His exit comes amid leadership changes across Indian consumer goods firms as they tackle uneven demand and rising raw material costs that are pressuring margins. Dabur has not announced an interim replacement for Malhotra.
Oracle cancels $7 bn chip deal with Tencent amid US pressure: Report
Oracle has cancelled a $7 billion chip leasing deal with China's Tencent following pressure from the Trump administration, the Financial Times reported. US officials had approached Oracle to raise concerns about the agreement. Meanwhile, senior officials in China's Guangdong province, where Tencent is based, also urged the company to support the use of domestically produced chips.
Goats worth ₹4 crore sold in Tamil Nadu to meet Diwali expenses
Goats worth Rs 4 crore were sold at the weekly Ulundurpet goat market in Tamil Nadu's Kallakurichi district ahead of Diwali. Farmers brought different breeds in large numbers to meet festive expenses and earn money for the celebrations. The market, which opened at 4 am, attracted hundreds of wholesale and retail traders from Perambalur, Salem, Trichy and Cuddalore.
How are gold and silver taxed when sold or inherited?
Selling gold and silver can attract capital gains tax. Long-term gains are taxed at 12.5% without indexation, while short-term gains are taxed according to the individual's income tax slab. Gold and silver received as gifts or inheritance are generally taxed only when sold, with previous owner's purchase cost and holding period carried forward.
Email changed before US stocks were sold: Victim who lost 'life savings' in Stockal's ₹100-cr scam
An Indian investor alleged her registered email address was changed without her consent and Stockal failed to send an alert to her original email. Thirty Indian investors lost ₹100 crore after their US stock portfolios were allegedly sold without authorisation, with the proceeds used to buy a Chinese company's shares. The victim said her "life savings have been trashed completely".
Stockal's parent company responds after investors lose over ₹100 crore in a scam
Borderless Investing, parent company of Stockal, addressed unauthorised trading in customer accounts that led to fraudulent transactions worth around ₹100 crore on its platform. The company said its probe found "no evidence" of breach in its systems. It suspects affected users may have fallen victim to a social engineering attack involving information exposed in a data breach at another company.
Why did Indian IT stocks fall after US midterm election results?
Indian IT stocks, including TCS, Infosys and Wipro, fell on Wednesday following Democrats' sweeping victory in the US midterm elections. Investors fear that a Democratic-controlled Congress could increase oversight of the AI industry, potentially slowing data-centre investments and technology spending. These concerns also triggered a decline in AI-linked stocks.
What evidence should investors preserve after Stockal's ₹100-cr fraud?
Nearly 30 retail investors have alleged that their US stock portfolios were sold without consent through fintech platform Stockal Securities, with losses crossing ₹100 crore. Experts advise affected investors to preserve account statements, trade confirmations, transaction alerts, portfolio screenshots and funding records. They should also document unauthorised trades and losses.