ED Arrests Heera Group Chief Nowhera Shaik in Rs 3,000 Cr Fraud
The Enforcement Directorate arrested Heera Group chief Nowhera Shaik from Gurugram in a Rs 3,000-crore fraud involving over 1.72 lakh investors. She was living under a false identity.
Category : Business
Ramco Systems Posts Rs 41.8 Crore Profit in FY26
Ramco Systems reports Rs 41.8 crore net profit for FY26, its first profitable year since FY21, driven by SaaS revenue growth and operational discipline.
Ramco Cements PAT Jumps 66% in FY26, Revenue Up 6%
Ramco Cements posted a 66% rise in PAT to Rs 694 crore in FY26. Net revenue grew 6% to Rs 9,056 crore, driven by 4% price improvement. Cement revenue up 5%, chemicals up 66%.
APSPDCL to Set Up 5 EV Charging Stations for APSRTC Buses
APSPDCL accelerates establishment of five EV charging stations for APSRTC buses in five Andhra districts at Rs 15 crore, with completion by June 20.
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India Gold Demand May Drop 10% in 2026 on Duty Hike
The World Gold Council estimates India's gold demand could fall by 50-60 tonnes in 2026, around 10% lower than the previous year, due to the import duty hike from 6% to 15%.
Summer Holidays Costlier Due to Fuel Price Hikes in Travel Sector
Repeated fuel price increases are making summer vacations more expensive, affecting transport, hotels, and holiday packages across India, especially in Madhya Pradesh.
Bidadi Project Revives Land Politics in Bengaluru Corridor
The Rs 18,000 crore Bidadi township project sparks a political battle between HD Deve Gowda's family and DK Shivakumar, reopening old land and real estate fault lines in Bengaluru's periphery.
Kamarajar Port IPO in 2027: First Govt Major Port Public
Kamarajar Port Ltd, a subsidiary of Chennai Port Authority, plans to launch its IPO in 2027, becoming the first government-owned major port in India to go public. The Union Ministry has granted in-principle approval.
Mumbai Police File Case Against Osia Hyper Retail for Rs 9.3 Cr Loan Fraud
Mumbai Police have registered an FIR against Osia Hyper Retail Ltd and its directors for allegedly obtaining Rs 9.3 crore in bank loans through fraudulent invoices on the TReDS platform and defaulting on repayment.
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SBI Branches Normal May 25-26 After Strike Deferred
State Bank of India branches will function normally on May 25 and 26 as the proposed two-day nationwide strike by employees has been deferred following positive discussions between management and union representatives.
India's Enduring Love for Gold: Tradition, Trust, and Investment
India's deep-rooted affinity for gold transcends investment, embodying emotion, tradition, and security. Households hold $5 trillion in gold, surpassing combined reserves of major nations.
Odisha RERA Notices to 113 Developers for QPR Defaults
Odisha RERA issued show-cause notices to 113 developers for failing to file mandatory quarterly progress reports, warning of penalties up to 5% of project cost and possible registration suspension.
Raipur's Kachana Railway Overbridge Inaugurated After Years of Delay
After years of delays, Raipur's Kachana railway overbridge was inaugurated by CM Vishnu Deo Sai, bringing relief to over 1.5 lakh residents. The 871-meter bridge ends daily traffic jams at a busy crossing.
Rupee Rises 76 Paise to Close at 95.60 Against Dollar
The Indian rupee strengthened by 76 paise to close at 95.60 against the US dollar on Friday, driven by a weak dollar and positive domestic equities. Gains were supported by foreign fund inflows and lower crude oil prices.
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Raipur's Kachana Railway Overbridge Opens After 8-Year Wait
After eight years of delays, Raipur's Kachana railway overbridge was inaugurated by CM Vishnu Deo Sai, bringing relief to over 1.5 lakh residents from congested crossings.
Rajasthan Cracks Down on Petrol Pumps for Short Fuel Delivery
Rajasthan's food department intensified checks, confiscating nozzles from over 100 petrol pumps for under-dispensing fuel. Officials assure no shortage and urge public to avoid panic-buying.
ED Arrests Heera Group Scam Accused Nowhera Shaik
The Enforcement Directorate arrested Nowhera Shaik, the main accused in the Rs 3,000 crore Heera Group scam, and produced her before a PMLA court in Hyderabad, which remanded her to judicial custody.
Central Bank of India OFS Oversubscribed 2.35x on Day 1
The government's offer for sale in Central Bank of India was oversubscribed 2.35 times on day one, prompting the use of the green shoe option to sell an additional 4% stake.
Two Taraori Rice Mills Short of Paddy Stock, FIRs
Two rice mills in Taraori, Haryana, were found with paddy stock shortages during inspections. FIRs have been registered against the mill owners for irregularities.
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RBI Announces Record Rs 2.87 Lakh Crore Dividend
The RBI has declared a record dividend of Rs 2.87 lakh crore for FY26-27, boosting government non-tax revenue amid economic pressures from global oil shocks and geopolitical tensions.
Airfares surge 30% forcing Bengalureans to rethink holidays
Airfares have surged up to 30% after a 25% ATF price hike, forcing Bengalureans to opt for cheaper nearby destinations or cancel travel plans. International fares have also doubled, impacting bookings.
Iran-U.S. Deal Imminent? 9-Point Formula Out, Nukes Off Table
A dramatic new twist may be unfolding in the Iran conflict after Saudi network Al-Arabiya published what it claims is the final draft of a possible U.S.-Iran agreement brokered through Pakistan.
Andhra Pradesh Power Demand Hits Record 15,016 MW Amid Heatwave
Andhra Pradesh recorded its highest-ever power demand of 15,016 MW on Thursday as temperatures crossed 46°C. The grid managed 288.9 MU consumption, but rural areas faced disruptions due to technical issues.
Jharkhand Industrial Area Authority Goes Fully Digital from August
JIADA is digitising all operations, launching a paperless unified IT system by August 2024, enabling online land allotment, rent payments, NOCs, and grievance redressal.
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US Stocks Rally for Eighth Straight Week on Easing Bond Yields
US stocks rose for an eighth consecutive week as easing bond yields boosted sentiment, with the S&P 500 nearing record highs. Retail and tech stocks led gains after strong earnings from Ross Stores, Estee Lauder, Workday, and Zoom.
India Post, Flipkart Partner for Last-Mile Delivery Boost
India Post and Flipkart have signed an agreement to enhance last-mile deliveries across India, leveraging the postal network's extensive reach to improve e-commerce logistics.
RBI Transfers Record Rs 2.86 Lakh Crore to Govt for FY26
The RBI approved a record surplus transfer of Rs 2.86 lakh crore to the central government for FY26, boosting fiscal revenues and supporting economic growth.
MRPL Approved for ATF Pipeline to Bengaluru Airport
MRPL receives regulatory approval to build a 2.5 MMTPA ATF pipeline from Devangonthi to Kempegowda International Airport, Bengaluru, enhancing aviation fuel supply.
Fed's Waller Joins Call for Neutral Policy Stance on Inflation
Federal Reserve Governor Chris Waller supports removing 'easing bias' from policy language, signaling rate cuts are not imminent amid persistent inflation. He joins a growing group of policymakers advocating a neutral stance.
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Powerloom owners allege wage cuts despite revision
Powerloom owners in Coimbatore and Tirupur districts allege wage cuts for two months despite a recently signed wage revision, causing heavy losses. They demand legal enforcement of the new rates.
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