Business

New Delhi: In a striking revelation, not a single Indian city made it to the list of the world’s top 20 richest cities by GDP. The list is heavily dominated by the United States, which claims 11 spots, followed by China and Japan with two cities each. Other countries represented include the UK, France, Brazil, South Korea, and Germany, each with one city on the list. Top of the List According to FRED Economic Data, New York tops the list with a GDP of $2.3 trillion, making it the world’s richest city and home to the highest number of billionaires globally. Japan’s Tokyo comes second with a GDP of $2.1 trillion, followed by Los Angeles ($1.29 trillion), Paris ($1.27 trillion), and London ($1.17 trillion). Other Notable Cities Chicago: $894.9 billion (6th) Seoul, South Korea:...

New Delhi: While the broader cryptocurrency market continues to struggle, Zcash (ZEC) has emerged as a standout performer, delivering spectacular returns for investors. In the last 24 hours, Zcash’s value surged nearly 12%, defying the ongoing market downturn affecting major cryptocurrencies like Bitcoin and Ethereum. Explosive Growth in Just 20 Days Zcash’s price crossed $673 (around ₹60,000) on Thursday at 2:30 PM, doubling in just 20 days from $330 on October 31. Over the past month, it has delivered over 160% returns, making it one of the fastest-growing cryptocurrencies in the current market. Two-Month Returns Skyrocket to 1200% Two months ago, Zcash traded at approximately $50. Today, it has surged past $670, representing a 1200% gain. This means an investor who put ₹1 la...

New Delhi: Food delivery giant Swiggy has seen its share price tumble back to near its issue price, raising concerns among investors. Listed last November, the stock initially surged, but it has now slipped close to ₹390, almost matching its IPO price. This comes after hitting an all-time high of ₹617, marking a 36% decline from the peak. Stock Performance Recap After listing on 13 November 2024, Swiggy shares surged 58% in the first six weeks to ₹617. However, the rally was short-lived. Over the next six months, the stock plunged 52% to ₹297 in May 2025. Since then, the price has recovered slightly but remains volatile, leaving investor confidence shaky. Financial Health Swiggy’s losses continue to mount, despite rising revenues. The Q2FY26 consolidated net loss was ₹1,092 cro...

Mumbai: Equity Mutual Fund inflows have been falling for several months, signalling a clear shift in investor behaviour. According to the latest data released by the Association of Mutual Funds in India (AMFI), net investments in equity mutual funds dropped by 19% in October 2025 compared to September. As a result, investors are actively diversifying their portfolios and moving towards more balanced and growth-oriented categories. Mid-Cap & Flexi-Cap Funds Take Centre Stage For a long time, large-cap and small-cap funds dominated investor portfolios. But changing market conditions have prompted investors to rethink their strategy. The October data shows a significant rise in interest for Flexi-Cap and Mid-Cap Mutual Funds, both considered stronger options in a volatile market. ...

New Delhi: India’s crude oil imports from Russia have taken a sharp hit this month, plunging by nearly 66%, as fresh US sanctions on Moscow’s two biggest oil companies—Rosneft and Lukoil—rattle global supply routes. India, Russia’s largest crude buyer, has scaled back orders amid tightening compliance risks, while China and Turkey have also cut purchases significantly. According to data shared by analytics firm Kpler, India received an average of 672,000 barrels per day of Russian crude between November 1 and 17 — a steep drop from 1.88 million barrels per day in October. Since Russian shipments take nearly a month to reach Indian ports, most of November’s loadings will only arrive in December. Tankers Sailing Without a Set Destination The sanctions deadline of November 21 has pus...

New Delhi: For Adwait Kulkarni, a mechanical engineer from Kolhapur, a simple holiday in 2017 turned into a life-changing entrepreneurial journey. What began as a vacation to Tripura soon became the foundation of a thriving food-processing business that today generates an annual turnover of ₹1.5 crore. The Holiday That Sparked an Idea In 2017, Adwait travelled to Tripura for a break — unaware that the state’s lush, endless pineapple plantations would redirect his life. Fascinated by the large-scale cultivation, unmatched sweetness, and low cost of Tripura’s pineapples, he began visiting repeatedly between 2017 and 2020. He discovered a major gap: massive wastage of the produce due to the lack of processing units and poor logistics. The famed ‘Queen Pineapple’, which received a GI ...

Bengaluru: Infosys, India’s second-largest IT services company, has announced a massive ₹18,000 crore share buyback, the biggest in its history and the fifth buyback since the company went public. Existing shareholders will get the opportunity to sell their shares to the company at a premium price of ₹1,800 per share. Here is a detailed look at the buyback window, process, eligibility, and key dates. Buyback Window Opens on November 20 The buyback will begin on Thursday, 20 November, and will remain open until Wednesday, 26 November. Infosys shareholders had already approved the repurchase of 10 crore equity shares during the meeting held on November 6. Buyback Price and Eligibility Infosys will repurchase shares at ₹1,800 per share, significantly higher than the market...

New Delhi: After a long wait, major private banks such as Axis Bank, HDFC Bank and Kotak Mahindra Bank are now preparing to introduce credit payments through UPI. Until now, banks have been offering RuPay credit cards enabled for UPI, but the next big upgrade—“Credit Line on UPI”—is finally set to roll out. What’s the Current Preparation? According to sources quoted by ET, Axis Bank and HDFC Bank are working with fintech startups to launch this product.Startups like Navi, SuperMoney and SalarySe are in advanced discussions to partner with these banks for offering the UPI-based credit line. All three banks—HDFC, Axis and Kotak Mahindra—declined to comment officially. Why Were Banks Hesitant Earlier? People familiar with the matter said banks wanted clarity on key issues befor...

New Delhi: In a dramatic turn in India’s corporate world, Gautam Adani has emerged victorious in the race to acquire the bankrupt infrastructure giant Jaypee Group’s flagship company, Jaiprakash Associates Ltd. (JAL)—despite submitting a lower bid than Anil Agarwal’s Vedanta. In a unanimous decision, the company’s creditors voted in favour of Adani Enterprises, citing more favourable prepayment and upfront payment terms, even though Vedanta had offered a higher total bid. Vedanta Offered ₹17,000 Crore, Yet Adani Won According to an ET report, Vedanta was the highest bidder in the e-auction held in September, offering ₹17,000 crore.However, sources revealed that creditors preferred Adani Enterprises because the group promised a larger upfront payment, making its proposal financiall...

New Delhi, 18 November 2025: As the cost of education, marriage, and other milestones rises, planning for a child’s financial future has become more important than ever. Experts suggest that starting early with a structured investment plan can help parents accumulate a substantial corpus for their child’s long-term needs. Mutual Funds for ChildrenMany parents prefer to open a separate fund in their child’s name for long-term goals like education or marriage. Contributions often begin with small amounts received on birthdays or special occasions and are supplemented with regular deposits over time. One of the reliable options in this space is the ICICI Prudential Children Fund, an open-ended plan designed specifically for children. The fund has a proven track record of delivering consist...