Author: Abizar Attari
News Editor

Mumbai: Indo SMC’s IPO was oversubscribed 2.05 times on Day 2, as the ₹92 crore IPO continued to draw interest from investors. Backed by veteran investor Ashish Kacholia, the power equipment manufacturing company is aiming to raise funds to expand its manufacturing facilities and meet working capital requirements.  Incorporated in 2021, the company primarily manufactures Sheet Mounding Compounds (SMC), which are glass fibre-infused polyester compounds that are designed to be fire-resistant, long-lasting and meet the technical requirements for power equipment infrastructure. Besides that, it also manufactures tarpaulin sheets, transformers and Fiberglass Reinforced Plastic (FRP) products The company operates four manufacturing…

New Delhi: India’s Consumer Price Index (CPI) for Q4 FY26 is expected at 2.6%, lower than the RBI’s projection of 2.9%, according to a report by the Union Bank of India. This has been attributed to lower inflation for the four consecutive months, mostly on the back of a stronger agricultural output and the pre-Diwali GST reforms. Despite the challenges to exports due to the US tariff regime, India has managed to grow at 7.3% this year, with the Asian Development Bank forecasting a growth rate of 7.2% for 2026. This lower-than-expected CPI inflation could open up space for the…

New Delhi: Public Sector Banks in India are expected to lead credit growth in the medium term, with a loan growth that could be higher than the industry, a report by HSBC Global Investment Research said. The trend is expected to grow from 2025, when state-owned banks recorded advances growth of 5-12 percent, as against the private sector bank’s advances of 3-11 percent, according to a Moneycontrol analysis. PSU banks were able to sustain growth despite challenging demand conditions and slower credit demand.  This development comes on the backdrop of structural improvements in PSUs, which have cleaned up their books…

New Delhi: North India-focused real estate developer Omaxe Ltd has announced a ₹500 crore investment in Omaxe Chowk, a mixed-use development to come up at Ghumar Mandi in Ludhiana. The project, spanning across 5.25 acres, will feature high-end retail establishments along with residential units and related infrastructure, with an aim to make Omaxe Chowk one of the city’s biggest commercial hubs. Omaxe bought the land parcel through a competitive bidding process conducted by the Rail Land Development Authority (RLDA), and is developing it on a leasehold basis. It is being developed under an agreement between the RLDA and the Ludhiana…

Ahmedabad: Zydus Lifesciences US based subsidiary, Sentynl Therapeutics, has received US FDA’s approval for its ZYCUBO® drug aimed at treating the rare genetic Menkes disease that affects children. This is the first and only treatment in the US for this disease, which generally affects just 1 in about 8,664 live births, mostly male. Worldwide, it is estimated that just 1 in about 250,000 live births.  Menkes disease is caused by mutations of the copper transporter ATP7A encoded in the ATP7A gene. Patients born with this disease are unable to absorb dietary copper and have impaired copper transport due ot it.…

New Delhi: Pathology laboratory chain Metropolis Healthcare Limited has announced the launch of its Centre of Genomics, as it looks to expand its reach to support precision diagnostics. With this, the company aims to offer genomics testing at scale, as it deploys American biotech major Illumina’s NovaSeq ™X Series to scale genomics testing, besides offering 500 additional tests to support oncology, neurology, transplant immunology and rare disease diagnoses. Though further details haven’t been revealed yet, Metropolis is aiming to first launch these labs in Mumbai and Delhi NCR, offering clinically actionable genomic insights. Given the increasing caseloads of cancer and…

Mumbai: India’s leading IT services firm, Tata Consultancy Services (TCS) became the first blue-chip company to report its Q3 results for the FY 2025-26. The company reported a 13.92% year-on-year decline in net profits to ₹10,657 crore this time from ₹13,024 crore in the same period last year. The company attributed this to a one-time cost of ₹1,135 crore as it laid off almost 12,000 employees or 1% of its total workforce. Despite this, the company’s revenues increased 4.9% to ₹67,087 crore, surpassing analysts’ expectations of ₹66,676 crore based on data compiled by LSEG. “The growth momentum we witnessed in…

Mumbai: The BSE Sensex has fallen more than 1,500 points in 5 trading sessions as investors turn cautious as Q3 earnings and clarity regarding the Indo-US trade deal are expected to be addressed in the coming days. Though markets correct all the time, the scale and speed of this decline have mattered as this is not about a single development but a multitude of uncertainties that have heightened worries of investors, including FIIs. Trump’s arbitrariness: The biggest threat Markets have been spooked by Donald Trump’s decision to approve the ‘Sanctions on Russia Act, 2025’, which will increase the tariffs on…

Mumbai: Maruti Suzuki India Limited (MSIL), one of India’s top passenger vehicle manufacturer, has signed a Memorandum of Understanding (MoU) with IndianOil to set up service stations at its petrol pumps across the country. This is aimed at strengthening its almost 5,600+ customer touchpoints existing across the country.  Tata Motors and Mahindra and Mahindra, on the other hand, have about 600 and 400 service centres respectively, even though some of their brands have outsold Maruti’s.  Indian Oil, as India’s leading fuel retailer, offers Maruti a natural advantage, especially for remote areas where such service stations could be a godsend. Both…

Bengaluru: Hinduja Global Solutions Limited (HGS), unveiled its AMLens artificial intelligence-powered solution aimed to help financial institutions support their anti-money laundering (AML) operations. The AI-powered solution integrates Machine Learning and Natural Language Processing (NLP) to reduce case analysis time by 75%, helping banks meet stringent regulatory standards by the RBI. With AI offering an ever-evolving system, AMLens can help financial investigators stay a step ahead of increasingly sophisticated fraud. The solution addresses pervasive issues facing the industry, including manual case resolutions, regulatory alignment gaps and various other challenges. The system automates the collection and consolidation of fragmented data from various…