In a daring robbery, masked men looted a State Bank of India (SBI) branch in Karnataka’s Vijayapura district, escaping with 58 kg of gold and about ₹8 crore in cash. The incident occurred on Tuesday evening and has left the region stunned. According to News18, the robbers—armed with country-made pistols and disguised in military uniforms—stormed the bank, threatened staff, and stopped them from...
Investcraft Market Updates
India’s biggest online retailers are facing a tricky situation just weeks before their mega festive sales. The question is whether to launch as usual in mid-September or wait for the GST Council’s meeting on September 3–4, which may decide on tax changes. The government is considering replacing the current four GST slabs (5%, 12%, 18%, 28%) with a simpler two-rate system of 5% and 18%. If approved,...
The Competition Commission of India (CCI) has given Adani Group a green light to acquire Jaiprakash Associates Ltd (JAL), a debt-ridden company currently undergoing insolvency proceedings. This approval is needed before Adani can formally submit its resolution plan to JAL’s creditors, as per a recent Supreme Court ruling. Adani’s plan involves potentially acquiring up to 100% of JAL through its...
Minister of State for Communications Pemmasani Chandra Sekhar told private sources on August 25 that the government has already extended significant support—such as converting part of Vi’s debt into equity—and currently has no plans for further relief. He said any new decisions on AGR dues would need approval from the Union Cabinet, involving the PMO, Finance Ministry, Telecom Minister, and the...
Prime Minister Narendra Modi, during his Independence Day speech, announced that this Diwali, consumers can expect significant GST reforms aimed at lowering taxes on essential items. He stated these changes would make everyday goods much cheaper and benefit the overall economy. Despite these plans, inflation remains a concern in certain categories—such as butter, which saw inflation hit a 16-month high...
Since 2021, Noida’s Sector 150 — known for its premium townships — has emerged as India’s fastest-growing housing market. A study by property consultant ANAROCK shows that average home prices in the area have surged 139% to ₹13,600 per sq ft, while monthly rents have jumped 71% to ₹27,300 — the highest growth among 14 micro-markets across seven major cities. This boom is driven by large...
The Shapoorji Pallonji Group is considering using part of the funds it may receive from selling its 18.4% holding in Tata Sons Pvt. to pay down debt tied to its infrastructure arm, according to people with knowledge of the matter. The company is targeting repayment of Rs 8,810 crore (about $1 billion) in bonds issued by Goswami Infratech Pvt., which are due to mature in April next year, the sources said,...
Gold prices surged on August 8, with futures hitting record highs after reports that US President Donald Trump imposed tariffs on imported one-kilogram gold bars. On the Comex exchange, December gold futures climbed to over $3,500 per 100 troy ounces — the highest in 52 weeks. In India, October MCX gold futures touched an all-time high of ₹1,02,250 per 10 grams. According to the Financial Times, a US...
India’s pharmaceutical industry is preparing a broad strategy to protect itself from possible tariff increases as US President Donald Trump intensifies his trade actions. Currently, drug formulations and active pharmaceutical ingredients (APIs) from India are not affected by the latest 25% tariff hike under the US’s ongoing Section 232 investigation. However, the industry is staying cautious. “The...
A cloudburst in Dharali village, located in Uttarkashi, triggered a massive flash flood on Tuesday, sweeping away houses and cattle. Rescue efforts are currently ongoing. A video shared on social media shows powerful water currents gushing down the village, while people can be heard shouting and panicking in the background. The flood has badly damaged homes and buildings, and there are reports of people...