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Torrent Pharma is set to acquire a controlling stake in JB Chemicals & Pharmaceuticals for approximately Rs 18,000 crore, marking the second-largest pharma deal in India. The acquisition involves purchasing a 46.4% stake from KKR, followed by an open offer to public shareholders. This deal will create India's second most valued pharma company, with substantial revenue and a top-five ranking. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/bfcSN4Z

Indian paint companies like Asian Paints and Berger Paints are facing challenges due to weak urban demand and intense price competition, impacting their profit margins in FY25. Despite these headwinds, they anticipate a modest recovery in FY26, fueled by increased disposable incomes and government initiatives. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/Kkuz3NR

Following the Pahalgam terror attack, India's ban on ships carrying goods from or to Pakistan has significantly disrupted Pakistani trade. This ban, effective May 2025, has led to increased freight charges and longer shipping times, forcing importers to rely on feeder vessels. Indian agencies are actively enforcing the ban, seizing falsely declared Pakistani goods routed through third countries. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/Q5P7paL

G7 nations have reached a groundbreaking agreement, exempting US and British multinational corporations from key provisions of the global minimum tax through a new "side-by-side" system. This framework acknowledges existing US tax laws, allowing American firms to be taxed domestically. The move aims to provide stability and certainty in the international tax system, addressing concerns raised by businesses. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/PbMINvR

MNRE has revised its Waste-to-Energy Programme guidelines to simplify procedures and enhance transparency. The new framework links financial support to the actual performance of energy plants, disbursing CFA in stages based on operational milestones. These changes aim to benefit MSMEs, streamline inspections, and contribute to India's waste management and net-zero emissions goals. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/9JpgGKC

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President Trump has intensified speculation about Federal Reserve leadership, calling Chair Jerome Powell "terrible" and indicating he's considering replacements. He mentioned a shortlist of three or four candidates, including Kevin Warsh and Christopher Waller. Trump's repeated criticism of Powell's interest rate policies suggests a desire for greater influence over the central bank, despite warnings about potential inflation from tariffs. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/d7Yqh3f

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SpiceJet has been ordered by a Mumbai consumer commission to compensate a senior citizen with Rs 25,000 for mental distress and Rs 5,000 for legal costs, due to an incorrectly issued ticket during a rerouted journey in December 2020. Despite acknowledging the airline's efforts to reroute after a flight cancellation, the commission cited “deficient service and negligent behaviour. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/6AfVSxn

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Gross direct tax collections saw a modest increase of under 5% up to June 19, with advance tax receipts growing at a muted 3.9%, signaling potential concerns about corporate profit growth. Net direct tax collections dipped slightly due to a significant surge in refunds, reflecting the finance minister's push for quicker disbursal. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/GyHnjoF

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Deepak Parekh disclosed that Chanda Kochhar once suggested a merger between ICICI Bank and HDFC. Parekh declined the offer. He cited regulatory pressure as the main driver for HDFC's eventual merger with HDFC Bank. Parekh described the merger's conclusion as both sad and happy. He emphasized the need for larger Indian banks through acquisitions. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/6ZJxjLP

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India is implementing a four-pronged strategy for Free Trade Agreements, prioritizing developed economies like the US and EU, mineral-rich nations such as Australia and Chile, developing countries, and neighboring countries. Negotiations are underway with several countries, and the commerce department is strengthening its negotiating teams to ensure better utilization of preferential tariffs by exporters. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/Po4Rb0I

Since Donald Trump's presidency began five months ago, global financial markets have experienced significant volatility. US stocks are underperforming compared to European markets, while the dollar has sharply declined against the euro. Concerns about rising US debt are growing, impacting investor confidence. Oil prices initially fell due to economic slowdown fears but have rebounded amid Middle East tensions. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/Wx6gd9R

Digit Insurance has initiated payouts for migrant laborers in Noida due to extreme heat, utilizing a parametric insurance model that triggers payments when temperatures exceed specific thresholds for consecutive days. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/H1E8Jef

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Air India will cut international flights using wide-body planes by 15%. This reduction is effective immediately and will last until at least mid-July. The airline cites airspace closures and enhanced checks on Boeing 787s as reasons. These factors have increased flight times and reduced aircraft availability. The airline operated 462 flights between June 2 and 17, but cancelled 83 flights. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/LFxVbEz

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An IndiGo flight carrying 157 passengers from Muscat to Delhi via Kochi was forced to make an emergency landing in Nagpur following a bomb threat. The threat, received via email by Cochin airport authorities, prompted the mid-air diversion. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/djYTEUH

Iranian state television has urged citizens to delete WhatsApp, alleging data collection and sharing with Israel, claims WhatsApp vehemently denies. The messaging app emphasises its use of end-to-end encryption, ensuring user privacy and denying any data sharing with governments. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/ZglXmUI

Indian stock market soared on Monday. Sensex closed 678 points higher. Nifty also saw a significant rise. HDFC Bank, ICICI Bank, and Infosys led the gains. Domestic funds invested heavily, offsetting foreign fund outflows. Investors grew richer by Rs 3.3 lakh crore. A potential ceasefire between Israel and Iran may further boost the market. Gold prices fell on ceasefire news. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/fxVv0N9

Stock market recommendations: Mirae Asset Sharekhan's Somil Mehta recommends buying Apollo Hospitals and Persistent. Apollo Hospitals, currently trading around Rs 7,100, is expected to reach Rs 7,545, while Persistent, near Rs 6,010, aims for Rs 6,300. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/CfWdvE1

West Delhi leads India in FMCG spending, averaging Rs 39,325 annually per household, while South Delhi consumes the most volume at 240kg per household. Bengaluru tops in premium FMCG product spending. Mumbai's GDSC cluster shops most frequently, though with smaller basket sizes, and both Delhi clusters favor home-cooked meals but also consume bottled soft drinks. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/ZgxUP8o

State Bank of India has reduced interest rates on deposits. The bank lowered retail term deposit rates by 25 basis points. Savings account rates also decreased to 2.5 percent. This decision follows the Reserve Bank of India's repo rate cut. Other banks like HDFC Bank and ICICI Bank have also reduced fixed deposit rates. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/oWqIKgV

Despite Iranian ballistic missile attacks targeting Haifa port and a nearby oil refinery in Israel, the Adani Group-led Haifa port remained unharmed, ensuring uninterrupted cargo operations. While shrapnel fell near the port and refinery, causing no injuries, the Adani-operated port sustained no damage. Cargo operations are proceeding normally, with eight ships currently in the port. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/QXsAnBo

US Steel's collaboration with Nippon Steel has received approval after national security assurances were confirmed, retaining the "golden share" benefit. Former President Trump endorsed the partnership through an executive order, following a review by CFIUS. The agreement includes significant investments in US steelmaking and job protection. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/jUaxcPd

Boeing projects a global commercial aircraft fleet of nearly 50,000 by 2044, with developing markets driving growth. Supply chain challenges have slightly reduced delivery forecasts, contributing to a potential aircraft shortage. While passenger growth outpaces GDP, new deliveries struggle to meet demand, highlighting a shift in the industry's landscape with increased representation from Asian and Middle Eastern firms. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/uEUDt9Q

Following the Air India plane crash, the Turkish government refuted claims that Turkish Technic maintained the Boeing 787-8 Dreamliner involved. Agreements between Air India and Turkish Technic, set for 2024-25, only cover maintenance for B777 aircraft, not the 787-8. Air India plans to reduce reliance on Turkish Technic amid strained relations. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/wUvlIsG

India has welcomed the Maldives' improved foreign exchange reserves, acknowledging the significant role of the $400 million currency swap between the RBI and MMA in easing liquidity pressures. Fitch Ratings recognized India's critical support in bolstering the Maldives' reserves, alongside strong tourism and new forex regulations. Despite this, the Maldives faces ongoing fiscal and external challenges. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/teghVI9

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The rupee marginally strengthened against the US dollar, closing at 85.52, supported by a weaker greenback and anticipation of Federal Reserve rate cuts. However, a sharp decline in domestic equities, with the Sensex and Nifty falling significantly, and rising crude oil prices, limited the rupee's gains. Foreign institutional investors also offloaded equities, further impacting market sentiment. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/jKlEUeX

SBI is bolstering customer service by hiring 13,455 junior associates as part of a larger recruitment drive. The bank is also focusing on customer satisfaction through real-time measurement tools and has increased claim settlement limits for heirs to ₹15 lakh. Despite the hiring spree, the overall employee count is expected to rise marginally to 2.36 lakh by March 2025. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/BU3xOWR

To combat rising cyber fraud in the stock market, SEBI will launch a verified payment system from October 1st. This mechanism will help investors identify genuine SEBI-registered entities when transferring funds via UPI, preventing scams. The new UPI address structure will undergo verification at three levels: SEBI, banks, and NPCI. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/I1TbyaB

The government has reduced the Basic Customs Duty on crude edible oils like soybean, sunflower, and palm from 20% to 10% to control rising prices. This move widens the import duty differential, encouraging domestic refining and reducing refined oil imports. The food ministry has directed industry associations to immediately pass on the duty reductions to consumers by adjusting prices. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/GCxF3Vb

The auto industry faces supply chain issues. China's restrictions on rare earth magnet shipments are the cause. Automakers request government to relax domestic value addition norms. This is for production-linked incentive scheme. Companies seek permission to import complete assemblies from China. This is a short-term solution to avoid production disruptions. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/rZeO3B2

Byju's has sold its US subsidiaries, Epic and Tynker, through US bankruptcy proceedings as part of its asset liquidation after a financial downturn. Epic was acquired by TAL Education Group for $95 million, while CodeHS purchased Tynker for $2.2 million. These sales aim to help lenders recover losses from a $1. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/I6bfHa7