TCS shares plunge 8% in steepest fall since March 2020
Tata Consultancy Services (TCS) shares fell over 8% on Wednesday, erasing recent gains and dragging IT stocks lower. The decline is the steepest since the Covid-19 market crash in March 2020.
Category : Corporate News
Oyo Parent Prism Secures SEBI Approval for Rs 6,650 Crore IPO
Oyo parent company Prism has received SEBI's approval to launch an IPO worth Rs 6,650 crore. The company plans to use the funds for expansion and debt repayment.
Cabinet Approves Rs 10,000 Crore ATF Fund for Airlines
The Union Cabinet has approved a Rs 10,000 crore ATF Price Stabilisation Fund to protect airlines from volatile fuel prices amid the Middle East conflict, ensuring stable operations and shielding passengers from fare spikes.
India Must Challenge US Tariff Threats Under Section 301
India should challenge the US proposal to impose a 125% tariff under Section 301 investigations, says GTRI, warning of trade war escalation.
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Wipro CEO Pallia Earns Rs 49.6 Crore in FY26
Wipro CEO Srini Pallia's total compensation for FY26 stood at Rs 49.6 crore, including salary, allowances, commission, and long-term incentives, as per the company's annual report.
RBI Dismisses USD 12 Billion Gold Sale Report as False
The Reserve Bank of India has refuted a report claiming it sold USD 12 billion worth of gold, calling it baseless and misleading. The central bank highlighted its increasing gold reserves.
TransBnk Unveils First Speaker Lineup for CBNxT'26
TransBnk launches CBNxT'26, a first-of-its-kind corporate banking event in Mumbai, featuring leaders from Yes Bank, HDFC, Standard Chartered, HSBC, and more to discuss AI, treasury, and embedded finance.
ACB books Bhujanga Rao in disproportionate assets case
The Anti-Corruption Bureau has booked N Bhujanga Rao, an accused in the phone-tapping case, for possessing assets disproportionate to his income. Searches are underway at 13 locations.
Workplace Trust Crisis: 47% Consider Leaving Due to Value Gap
A new survey reveals 47% of employees have considered leaving jobs due to a disconnect between corporate promises and reality, highlighting ethical concerns and fear of retaliation.
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US Flags India in Section 301 Forced Labour Probe
The USTR has concluded a Section 301 investigation covering 60 countries, including India, for failing to enforce forced labour import prohibitions. The finding comes as a US trade delegation visits India for bilateral trade talks.
Hyderabad rents soar, forcing shared housing and longer commutes
Rising house rentals in Hyderabad's IT corridor are pushing residents into shared flats, crowded PGs, and longer commutes as rents surge 10-20%, outpacing salary growth.
Court Takes Cognisance of Charges Against Naveen Jindal
A Delhi court took cognisance of charges against Naveen Jindal and others for criminal conspiracy and cheating in a coal block allocation case, summoning them for July 17.
ED Raids Vedanta Premises in FEMA Violation Probe
The Enforcement Directorate searched Vedanta Ltd premises in Delhi, Mumbai, and Udaipur over suspected FEMA violations involving brand royalty transactions between UK-based Vedanta Resources and its Indian subsidiary.
Chemplast Sanmar Starts Strategic Review for M&A and Restructuring
Chemplast Sanmar has initiated a strategic review of its business portfolio, including potential reorganisation and M&A, to unlock value and strengthen long-term growth prospects.
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Court Closes Hindalco Coal Block Case, Discharges Executives
A Delhi court closed the coal block allocation case against Hindalco Industries, discharging the company and two former executives, citing lack of evidence for criminal conspiracy or breach of trust.
Ludhiana bizman booked for Rs 1.05 crore fraud
A Ludhiana textile businessman was defrauded of Rs 1.05 crore by a buyer who took delivery of fabrics but failed to pay. Police registered a case after investigation.
ThynkTech India Shuts Pune Office, 500 IT Staff Jobless
ThynkTech India OPC Pvt Ltd shut its Hinjewadi branch on April 22 without notice, leaving 500 employees jobless. CEO Harshal Thakre detained in Nashik. Case filed for cheating and withholding salaries.
India, UK agree to resolve gaps for early trade deal
India and the UK have agreed to resolve outstanding issues to expedite the bilateral trade agreement. Talks focused on steel quotas, duties, and carbon border adjustment mechanism.
Rising Can and Bottle Costs Hit Beverage Firms This Summer
Beverage companies face rising costs and supply disruptions for aluminium cans and glass bottles this summer, driven by global conflicts and inflation, potentially leading to higher consumer prices.
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Maharashtra Approves Rs 36,585 Crore Loan Waiver for Farmers
The Maharashtra government has approved a Rs 36,585 crore crop loan waiver scheme to benefit 56 lakh farmers, waiving loans up to Rs 2 lakh and offering Rs 50,000 incentive for regular repayers.
Atmanirbhar vs Nirbhar Bharat: Record Trade Deficit in 2025-26
India's trade deficit hit a record $333 billion in 2025-26, exposing the gap between the Atmanirbhar vision and rising import dependence, especially on China.
Pune APMC traders oppose 1% user charge, threaten strike
Traders at Pune APMC oppose a 1% user charge on non-cess commodities, warning of higher prices and inflation. They threaten an indefinite strike from June 13 if the levy is not withdrawn.
Gurgaon's Bakhtawar Chowk May Get Four-Level Traffic System
GMDA explores feasibility of a four-level traffic system at Bakhtawar Chowk in Gurgaon, including an underpass, surface road, and double-decker metro-cum-elevated structure to ease congestion.
Panchkula MC Withholds Rs 5.5 Cr from Waste Contractor
Panchkula Municipal Corporation has withheld over Rs 5.5 crore from its waste contractor in 15 months due to lapses. Residents report erratic door-to-door garbage collection despite penalties.
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US Job Openings Surge to 7.6 Million in April
US job openings rose to 7.6 million in April, a gain of 731,000, while hiring and total separations eased, signaling strong labor demand but slower worker movement.
Gujarat govt hikes drivers' laundry allowance after 26 years
After 26 years, Gujarat government increases laundry allowance for state drivers from Rs 50 to Rs 200 per month, also changes uniform colors. Employee unions say move has little impact due to outsourcing.
Bolt CEO Defends HR Elimination and Layoffs
Bolt CEO Ryan Breslow defends eliminating HR and laying off 30% of staff, citing entitlement and need for wartime efficiency to revive the fintech firm after valuation plummeted from $11B to $300M.
Agilitas Secures Rs 225 Crore in Funding from Nexus and Rainmatter
Sportswear platform Agilitas raises Rs 225 crore from Nexus Venture Partners and Rainmatter to expand manufacturing, retail, and brand portfolio, targeting $1 billion revenue.
Raj Kundra Gets Court Nod for Overseas Business Travel
A special court granted permission to businessman Raj Kundra to travel to multiple countries for business, rejecting ED's objections that he might abscond. The judge cited fundamental right to travel.
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CMA Rahul Chincholkar elected chairman of ICMAI Pune Chapter
CMA Rahul Chincholkar has been elected as chairman of ICMAI Pune Chapter for 2026-27. The new team includes vice-chairman, secretary, and treasurer, focusing on professional development and AI.
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