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NCDEX launched NCDEX Nidhi on Wednesday to distribute mutual funds in rural and semi-urban India. The exchange uses its network of 700 FPOs and 200 brokers to reach small cities. Arun Raste said, "Nidhi is a natural extension of what NCDEX has always stood for," connecting underserved communities to markets.
Nitin Gadkari told the Rajya Sabha on Wednesday that E20 petrol causes no engine damage. The Petroleum Ministry started the program after field trials. "No widespread issues of engine failure or vehicle breakdown attributable to ethanol blending have been reported," he said. Studies showed legacy vehicles performed well using this fuel.
Asian Paints reported a 39.9% rise in consolidated net profit to Rs 1,539 crore for the June quarter. Revenue grew 17.9% to Rs 10,542 crore, beating market estimates. CEO Amit Syngle said, "We delivered strong profitability, supported by measured price increases, an improved product mix, and disciplined cost management."
CBIZ shares jumped 17% on Wednesday after Grant Thornton Advisors agreed to buy the firm for $5 billion in cash. Grant Thornton CEO Jim Peko said, “we’re broadening our ability to support businesses through every stage of growth.” This deal creates one of the largest accounting service providers in the US.
Cholamandalam Investment and Finance Company eyes 22-23% AUM growth in FY27. The firm reported a net profit of ₹1,654 crore for the quarter ended June 2026, up 46 per cent. CFO D Arul Selvan said, “The industry overall has grown, but we have of course grown faster than the industry.”
The International Financial Services Centres Authority is working with the government to fix tax issues for outbound investments from GIFT IFSC. "We are already working with the government on the outbound tax," said official Pradeep Ramakrishnan on Wednesday. Industry leaders hope a better tax framework will help boost these investments.
Eicher Motors’ board approved a ₹1,225-crore investment for a new Andhra Pradesh plant on Wednesday. The company also posted a 21% rise in Q1 consolidated net profit to ₹1,463 crore. Managing Director B Govindarajan said, “we have sustained our strong momentum into the new financial year” after record-setting sales performance.
GlobalFoundries said on Wednesday the US government will award $300 million to develop faster AI chip links. The funding supports silicon photonics technology to boost data speeds and energy efficiency. CEO Tim Breen said, "We have the proven manufacturing foundation to scale it - in the United States." Research starts soon.
IIM Jammu and the Indian Army signed an MoU at the Satwari Military Station in Jammu to boost research and executive education. This partnership offers management programmes to serving personnel, veterans, and their families. Professor BS Sahay said the partnership reflects the vision of the National Education Policy (NEP).
Copper futures show a positive trend despite recent price moderation. The August contract now trades at ₹1,322 after starting its rally from ₹1,260 a month ago. Experts expect the price to touch ₹1,400 soon. Traders should buy at current levels with a stop-loss at ₹1,300 to manage their risk effectively.
IndianOil announced fresh investments of Rs 19,251 crore in Odisha on Wednesday. The plan focuses on expanding the Paradip refinery into a major petrochemical hub. Executive Director Kausik Basu said the investments reaffirm IndianOil's commitment to developing Paradip into a world-class integrated energy and petrochemical hub, strengthening India's energy security.
Karnataka Bank reported a 43% year-on-year rise in Q1 net profit to Rs 419 crore on Wednesday. The bank got a boost from better asset quality and business growth. Gross advances grew 17% to Rs 86,610 crore, while net interest income rose 24% to Rs 938 crore for the quarter.