BSE has suspended trading in Bharat Global Developers after a Sebi investigation revealed a pump-and-dump scam, leading to a 10,000% rise in its stock price. Sebi has barred several entities involved and accused the company of making false disclosures to boost stock prices.
Related news
Mercedes-Benz launches one of India's most-expensive electric cars, the G-Class G580 EV priced at Rs 3 crore. All 85 allocated units are sold out. The company leads in luxury car sales and sees a growing demand in the top-end vehicle segment, with a focus on expanding its EV portfolio and sales network across India.
India's trade deficit hit a 42-month low at $14 billion in February 2025, primarily due to a slowdown in imports to $51 billion. Despite global uncertainties and fluctuating petroleum prices, exports slightly declined to $36.9 billion, with non-petroleum products driving growth in the trade sector.
Zomato received a Rs 803 crore GST notice. The government says Zomato must pay tax on delivery fees. Zomato says it passes these fees to delivery partners. The tax covers October 2019 to March 2022.
TCS and Infosys added twelve $100 million+ clients each post-pandemic, outpacing Wipro and HCLTech's seven. While TCS and Infosys boasted 62 and 40 such clients respectively by 2023-24, Wipro and HCLTech had 22 each. Large deal wins slowed across the industry due to reduced spending and global uncertainties.
India and Qatar aim to double their bilateral trade to $28 billion in five years, transforming their relationship into a strategic partnership. PM Modi and Amir Al-Thani's high-level meeting led to key agreements on trade, investment, and energy cooperation, including extending India's LNG imports from Qatar. Additionally, they signed MoUs on economic cooperation and cultural exchange.
SBI raised concerns over the financial stability of women-centric Direct Benefit Transfer schemes in various states, highlighting a significant strain on state budgets. These schemes, costing over Rs 1.5 lakh crore across eight states, could pose fiscal risks, especially schemes like Karnataka's Gruha Lakshmi and West Bengal’s Lakshmir Bhandar. The report calls for a holistic evaluation of welfare spending.
SBI chairman C S Setty emphasized boosting India's capital markets by increasing listed companies, promoting spot transactions, and leveraging technology for cost reduction. He highlighted the importance of tracking fund utilization for investor trust, addressing MSME credit challenges, and securing climate finance for India's net-zero goals.
IndiGo's parent company, InterGlobe Aviation, faces a Rs 944.2 crore penalty imposed by the Income Tax department for the Assessment Year 2021-22. The company described the order as erroneous and plans to pursue legal remedies, stating it will not significantly impact its financials, operations, or other activities. The dispute arises from an appeal still pending adjudication.
Zydus Lifesciences announced it is negotiating to acquire a majority stake in French medtech firm Amplitude Surgical for approximately Rs 2,500 crore. The acquisition aims to boost Zydus's global medtech ambitions, leveraging its expertise in life sciences. The deal includes a 81% premium over Amplitude Surgical's last closing price, aiming for full ownership and delisting.
South Korea's cosmetic exports topped $10 billion in 2024, driven by the global popularity of K-beauty. China, the US, and Japan were the top importers. Additionally, bio-health exports surged, with pharmaceuticals leading the growth. The government aims to boost further expansion through international cooperation.