August 12, 2025
Gold prices drop Rs 1,000 per 10g after US tariff signals and extended China tariff suspension
Gold prices in the national market fell by Rs 1,000 per 10 grams following a global sell-off influenced by trade developments. The decline was linked to a US presidential statement indicating no tariffs on gold imports, which, despite lacking official confirmation, reduced trade-related concerns. Additionally, the extension of high-level tariffs suspension on China until November 11 eased macroeconomic tensions, further pressuring gold prices downward. Concurrently, silver prices dropped by Rs 2,000 per kilogram. The rupee strengthened slightly against the US dollar. Market experts noted that upcoming US economic data and Federal Reserve officials' speeches would significantly impact bullion price trends. Speculation about a potential truce in the Russia-Ukraine conflict also diminished demand for gold as a safe haven asset.
August 12, 2025
Road and bridge firm's IPO oversubscribed 316 times, first mainboard listing from city in 8 years
A company specializing in road and bridge construction and toll operations completed a highly oversubscribed initial public offering (IPO), ranking third in the country by subscription rate. The IPO was oversubscribed 316 times and marks the first mainboard listing from its city in eight years. The company, established in 1995, has a strong track record with projects worth over Rs. 2,000 crore across multiple states and a low debt-equity ratio, positioning it well for future growth. The government's recent budget allocation for infrastructure, particularly roads, supports the company's expansion plans. The company's leadership emphasizes technological advancement and efficiency, with a next-generation director contributing digital expertise. Financial experts highlight the company's balanced business model and strong returns, underscoring investor confidence and sustainable growth prospects. The shares are listed on major national stock exchanges, signaling a new phase in the company's development.
August 12, 2025
Automotive Tech Firm Launches AI Hub to Boost AI Adoption with Cost-Effective, Custom Solutions
A technology company specializing in automotive digital retail solutions has launched an AI innovation hub aimed at accelerating AI adoption within the automotive sector. The facility integrates advanced computing infrastructure and expert personnel to provide comprehensive AI services, including data integration, custom model development, and deployment, at significantly lower costs compared to Western markets. The platform offers modular AI agents designed to optimize pricing, improve operational efficiency, and enhance customer engagement for dealerships and manufacturers. The initiative leverages cost advantages and local talent to compete globally, targeting recurring revenue through a cloud-native, edge-ready architecture with human oversight for compliance. This strategic move positions the company to capitalize on the rapidly growing automotive AI market and drive long-term innovation and market leadership in automotive retail technology.
August 12, 2025
Manufacturing Firm Faces 20% Revenue Drop After Fire, Files Insurance Claims Under Section 2X
A manufacturing company specializing in MDF boards and laminates reported a significant decline in revenue and profitability for Q1 FY2026, primarily due to a fire incident at one of its production facilities causing a 43-day shutdown. The company experienced a 20.4% year-on-year decrease in revenue from operations and posted negative EBITDA and net profit margins. Despite lower volumes, price realizations improved for both MDF boards and laminates. The company has adequate insurance coverage and is filing claims for material damage and loss of profit. It also advanced its expansion plans with the commencement of commercial production at a new laminates facility, pending export certifications. Funding was partially secured through preferential allotment, with some warrants forfeited. The company continues sustainability initiatives by planting millions of saplings and anticipates improved performance in the next quarter due to resumed production and increased capacity utilization.
August 12, 2025
Government Launches Campaign Promoting Natural Fitness and Discouraging Steroid Use Under Health Protection Rules
A government official launched a national campaign against steroid use, emphasizing natural fitness through discipline and balanced nutrition. The initiative, supported by a prominent yoga leader, seeks to protect youth from the harmful effects of steroids, which are described as damaging to health and the nation's future. The campaign encourages public commitment to promoting a steroid-free lifestyle, particularly urging family members to support this cause. The effort aims to foster a healthier and stronger population by discouraging steroid consumption.
August 12, 2025
Real Estate Firm Launches IPO to Raise 49.45 Crore for Growth and Project Expansion
A real estate and infrastructure company is launching an Initial Public Offering (IPO) to raise approximately 49.45 crore by issuing over 58 lakh equity shares priced between 75 and 85 each. The shares will be listed on a recognized stock exchange platform, with allocations designated for qualified institutional buyers, non-institutional investors, individual investors, and market makers. The company intends to use the net proceeds primarily for working capital needs and general corporate purposes to support project execution and organizational growth. The IPO includes an anchor investor portion and is managed by a lead financial manager and registrar. The company has a history of infrastructure projects and aims to leverage the capital raised to expand operations and capitalize on growth opportunities in the infrastructure sector.
August 12, 2025
Possessing Aadhaar or PAN Does Not Grant Citizenship Under Citizenship Act, 1955: Bail Denied in Forgery Case
A person does not acquire Indian citizenship solely by possessing identification documents such as Aadhaar card, PAN card, or voter ID, the Bombay High Court ruled while denying bail to an individual accused of illegal entry and residing in India with forged documents. The court emphasized that the Citizenship Act, 1955, governs the acquisition and loss of citizenship, and identification documents serve only for identification or service access. The accused allegedly entered India without valid travel documents and procured forged Indian identification and passport documents. The court highlighted the distinction between lawful citizens and illegal migrants, noting that illegal migrants are barred from most citizenship routes. Bail was refused due to ongoing investigations into document authenticity and concerns about the accused absconding. The case involves allegations of deliberate identity concealment and document forgery to unlawfully claim citizenship benefits, underscoring the importance of the Citizenship Act in protecting national sovereignty and legal citizenship status.
August 12, 2025
Government and private firm launch 6-month innovation challenge for early-stage manufacturing startups, focusing on inclusivity and growth
A government department entered into a Memorandum of Understanding with a private company to support early-stage manufacturing startups through a six-month innovation challenge. The initiative targets startups working on hardware, IoT, packaging, and sustainable manufacturing, providing mentorship, expert workshops, and access to a digital delivery platform. Special emphasis is placed on women-led and startups from smaller cities. The private company will incorporate over 100 startups into its supply chain, facilitating market access and product showcasing. This partnership aims to accelerate innovation, promote inclusive growth, and enhance self-reliance in the manufacturing sector.
August 12, 2025
Government and Auto Company Partner to Boost Startups in Mobility, Clean Tech, and Deep Tech Innovation
A government department and a major automotive company entered into a Memorandum of Understanding to support early-stage startups focused on mobility, clean technology, and deep tech. The agreement grants startups access to the company's global research and development facilities, dealer and supplier networks, and mentorship opportunities. Selected startups may engage in paid Proofs of Concept to pilot innovations and gain market exposure. This partnership aims to accelerate innovation and industrial growth in line with national initiatives promoting self-reliance and technological advancement.
August 12, 2025
Net direct tax collections fall 3.95% to Rs 6.64 lakh crore amid 10% rise in tax refunds
Net direct tax collections decreased by 3.95% to Rs 6.64 lakh crore in the current fiscal year, primarily due to a 10% increase in tax refunds totaling Rs 1.35 lakh crore. Gross collections before refunds declined by 1.87% to Rs 7.99 lakh crore. Corporate tax collections amounted to Rs 2.29 lakh crore, while non-corporate tax collections, including individuals and firms, reached Rs 4.12 lakh crore. Securities Transaction Tax collections were Rs 22,362 crore during the period. The government has set a target to collect Rs 25.20 lakh crore in direct taxes and Rs 78,000 crore from Securities Transaction Tax for the fiscal year.
August 12, 2025
Supreme Court reviews rules on summoning lawyers in investigations under ED directives, calls for uniform guidelines
The Supreme Court addressed concerns over probe agencies summoning lawyers during investigations, emphasizing its role as custodian of all citizens. The court reserved its decision in a suo motu case involving the summoning of lawyers by agencies like the Enforcement Directorate (ED) in money laundering probes. The court acknowledged the need to protect lawyers as part of the justice administration but clarified that immunity does not extend to lawyers involved in criminal activities such as evidence tampering. The court noted it cannot create different classes of lawyers and called for uniform guidelines. The ED had issued a directive restricting summons to lawyers without prior approval, following criticism from bar associations. The Supreme Court Bar Association and the Supreme Court Advocates-on-Record Association had petitioned against the summoning practice, asserting it undermines legal profession foundations. The court instructed parties to file written submissions before delivering its final order.
August 12, 2025
Supreme Court reviews Election Commission's Special Intensive Revision of electoral rolls under Section 14
The Supreme Court has begun hearing multiple petitions challenging the Election Commission's special intensive revision (SIR) of electoral rolls in Bihar ahead of upcoming elections. Petitioners allege discrepancies, including instances where deceased individuals were listed as alive and vice versa. The Election Commission defended the exercise as a draft process subject to corrections, aimed at removing ineligible voters to ensure electoral integrity. The Court instructed the Commission to provide detailed data on voter numbers, including deceased voters, before finalizing the rolls. The final electoral roll is scheduled for publication on September 30. Various political leaders and civil society groups have jointly challenged the Commission's June 24 decision, fearing the revision may disenfranchise millions of eligible voters. The Court has emphasized its readiness to intervene if mass exclusion is detected during the revision process.
August 12, 2025
Global Specialty Glass Maker Starts High-Precision Tubing Production for Injectable Biologics in India
A global specialty glass manufacturer has commenced local production of high-precision glass tubing for syringes and cartridges at its facility in India, marking the first such manufacturing in the country. This expansion aims to meet increasing demand for injectable biologics used in diabetes and weight management, supporting pharmaceutical self-reliance under a national initiative. The production technology was transferred from the company's German operations, ensuring high-quality standards with tight tolerances critical for drug delivery systems. The move also enhances supply chain stability for primary pharmaceutical packaging in India and Asia, leveraging the country's growing pharmaceutical industry and regulatory environment. This development reflects a strategic investment to bolster local manufacturing capabilities and contribute to economic growth while maintaining zero-defect quality through advanced monitoring systems.
August 12, 2025
Rs 3,500 Crore Liquor Scam Chargesheet Details Money Laundering Under PMLA Section
A chargesheet filed by Andhra Pradesh police in a Rs 3,500-crore liquor scam alleges systematic laundering of kickbacks through low-profile employees acting as couriers to deposit illicit cash into multiple bank accounts linked to the syndicate. The laundering involved layering and circulation of cash to conceal the crime's proceeds, with some kickbacks paid as salaries to these individuals who then transferred funds to other accused. The Special Investigation Team arrested several persons, including a political party member, and the Enforcement Directorate filed a related money laundering case under the Prevention of Money Laundering Act. The chargesheet referenced alleged monthly kickbacks to a former chief minister but did not formally accuse him. A senior political leader denied the allegations as baseless.
August 12, 2025
Annual Design Festival Showcases Innovation, Sustainability, and Cultural Storytelling with 120+ Brands and 80 Speakers
An annual design festival will be held in Hyderabad, featuring over 120 brands and 80 speakers from the design industry, showcasing furniture, lighting, home furnishings, and fine art. The event includes exhibitions, talks, and immersive installations focused on Indian design innovation, sustainability, and cultural storytelling. It aims to position Hyderabad as a creative hub by uniting professionals across architecture, interiors, and visual culture. The festival is supported by multiple sponsors and includes thematic pavilions and cultural exhibitions exploring materiality and ethical design practices. It also offers public art installations and culinary experiences, emphasizing the integration of design with everyday life. The event serves as a platform for dialogue, collaboration, and promotion of India's evolving design identity on a global stage.
August 12, 2025
Non-Profit Uses Geo-Informatics to Build 100,000 Recharge Structures Boosting Water, Crops, and Incomes
A non-profit organization has implemented large-scale water conservation initiatives across multiple Indian states to address severe groundwater depletion and water scarcity. Utilizing scientific methods such as geo-informatics and remote sensing, the organization constructed over 100,000 groundwater recharge structures and rejuvenated numerous rivers and streams. Their flagship project involves creating farm-level recharge pits combined with tree planting, resulting in significant improvements in water tables, crop yields, and farmer incomes. The approach integrates community participation, including youth and women empowerment, and employs a holistic 4R strategy: reduce, reuse, recharge, and recycle water resources. Government agencies have verified the positive impact, with formerly critical water regions now classified as safe. The organization collaborates with governmental and corporate entities, promoting a replicable model aimed at making India water-positive and sustainable.
August 12, 2025
Easy EMI Financing on Washing Machines with Zero Down Payment and Instant Approval
A financial services company registered as a non-banking financial company with the Reserve Bank of India offers easy financing options for purchasing washing machines during a promotional Independence Day sale. The company provides flexible repayment plans, including zero down payment and instant approval through a proprietary EMI card, facilitating consumer access to a wide range of home appliance models from various brands. The promotion highlights benefits such as partner store discounts, energy-efficient products, and convenience features. The company maintains high domestic credit ratings and operates across urban and rural markets with a substantial customer base. All product features, pricing, and availability are subject to change, and consumers are advised to verify details before purchase.
August 12, 2025
Regional Government Boosts Domestic Computing Power with National Strategy and Green Energy Initiatives
A regional government has advanced its position as a leading hub for intelligent computing by leveraging a national strategy aimed at redistributing data processing capacities across the country. The region has significantly expanded its computing power infrastructure, with a majority of capacity domestically produced, supported by numerous data centers and enhanced energy supply systems, including renewable energy sources. Policy measures provide financial incentives for domestic computing power adaptation and model training services, facilitating substantial computing power transactions. Ongoing projects, including major cloud computing centers, aim to further strengthen the region's computing capabilities and promote integrated networks coordinating electricity and computing resources. This development reflects a strategic shift toward high-quality, green computing power to drive coordinated regional economic growth.
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