Category: BUSINESS

New Delhi, December 20:
The Government of India’s stake in Indian Overseas Bank (IOB) has declined to 92.44 per cent following the completion of an Offer for Sale (OFS), officials said on Saturday. The stake dilution is part of the government’s broader disinvestment and capital market strategy.

Officials stated that the OFS witnessed healthy investor participation, reflecting confidence in the public sector bank’s financial performance and growth prospects. The proceeds from the stake sale will contribute to the government’s resource mobilisation efforts.

Market analysts noted that reducing government holding improves public shareholding norms and enhances liquidity in the stock. The move is also expected to strengthen corporate governance and attract long-term investors to the bank.

NEW DELHI, Dec 20:
Air India and IndiGo have issued travel advisories for passengers as dense fog conditions across northern India led to widespread flight delays and disruptions, particularly at Delhi’s Indira Gandhi International Airport. The airlines cautioned travellers to expect changes in flight schedules due to low visibility, especially during early morning and late-night hours, as winter fog continues to impact air traffic operations.

Both carriers advised passengers to check their flight status before heading to the airport and allow additional time for travel. IndiGo stated that adverse weather conditions may result in delays or rescheduling despite operational preparedness, while Air India highlighted that fog-related constraints could affect both arrivals and departures, depending on visibility levels and air traffic control clearances.

Airline officials said that while airports are equipped with advanced landing systems to handle low-visibility operations, safety remains the top priority, and flight movements are regulated based on prevailing weather conditions. Ground congestion, aircraft rotation delays, and crew availability have also contributed to operational challenges during prolonged fog spells.

Global copper prices rallied sharply as the industrial metal edged closer to the $12,000 per metric ton mark, driven by tightening supplies, strong investor sentiment, and robust demand from technology-linked sectors. On the London Metal Exchange, benchmark copper prices climbed as high as $11,928 a ton, bringing them within about $25 of an all-time high and marking a substantial gain of more than one-third so far in 2025. The rally in copper came alongside broad strength in other base metals such as tin, aluminium, and nickel, reflecting heightened bullishness across commodity markets.

Market analysts attributed the rally to a combination of supply constraints — including mine outages and stockpiling by major buyers — and rising demand linked to artificial intelligence, data infrastructure, and renewable energy projects, which require significant amounts of copper for electrical systems and power grids. The tightening supply narrative was underscored by forecasts that copper could maintain elevated levels into 2026, while momentum in other base metals continued as producers and investors adjusted positions amid expectations of continued demand growth.

AMARAVATI, Dec 20:
Bharat Petroleum Corporation Limited (BPCL) is set to establish a ₹96,000-crore petroleum refinery project in Andhra Pradesh, marking one of the largest industrial investments in the state. Chief Minister N Chandrababu Naidu has invited Union Petroleum and Natural Gas Minister Hardeep Singh Puri to participate in the foundation-laying ceremony of the project.

Officials said the refinery will strengthen fuel production capacity and enhance energy security while placing Andhra Pradesh among major petroleum hubs in the country. The project is expected to create thousands of direct and indirect jobs, boost ancillary industries, and significantly contribute to the state’s economy and revenue.

New Delhi, December 19:
India’s healthcare sector is emerging as a strong destination for long-term investment, with analysts highlighting four key themes that could shape growth over the next decade. Experts say the sector is poised to benefit from rising demand, technological innovation, and policy support.

The themes include expansion of primary healthcare services, growth of health insurance penetration, adoption of digital health and telemedicine, and increasing domestic pharmaceutical and medical device production. Each area presents opportunities for investors and companies to cater to evolving healthcare needs.

Analysts emphasised that India’s demographic trends, increasing lifestyle-related diseases, and government initiatives to improve healthcare accessibility make the sector a promising long-term play. They also highlighted the potential for technological integration, particularly AI and analytics, to improve patient care and operational efficiency.

Investors are advised to consider sector fundamentals, regulatory policies, and emerging business models while planning investments in healthcare. The growing focus on preventive care, infrastructure, and innovation is expected to drive sustainable growth in the coming decade.

New Delhi, December 19:
India’s shipbuilding industry is experiencing a significant boom, with orders worth Rs 2.3 trillion and government-backed investments totaling Rs 697 billion aimed at strengthening maritime infrastructure and capacity. Officials said the surge reflects growing global demand and India’s push for self-reliance in ship production.

The government’s maritime initiative focuses on modernising shipyards, promoting domestic manufacturing, and enhancing the country’s strategic naval and commercial capabilities. Authorities highlighted that these investments will support both defence and commercial shipbuilding, including cargo vessels, tankers, and specialised maritime crafts.

Industry experts said the boost is expected to generate employment, attract foreign collaboration, and position India as a key player in global shipbuilding. Officials also emphasised that strengthening domestic shipbuilding aligns with the nation’s broader maritime security and economic goals.

New Delhi, December 19:
E-commerce major Flipkart on Friday announced that it has acquired a majority stake in Minivet AI, an India-based artificial intelligence and machine learning solutions provider, as part of its strategy to enhance core Generative AI (GenAI) capabilities. The company said the move will accelerate the adoption of AI-led innovation across its platform.

Flipkart said the acquisition is aimed at building advanced AI tools to support visual and conversational discovery, immersive shopping experiences and rich, AI-generated content for online retail. However, the financial details of the deal, including the quantum of stake and deal size, were not disclosed.

Minivet AI, founded in 2024, focuses on generative video and visual content solutions for e-commerce, enabling automated transformation of static product catalogs into engaging video and visual formats at scale. Flipkart said the technology will help enhance customer engagement and drive innovation in the rapidly evolving AI-driven commerce landscape.

New Delhi, December 19:
The Adani Group has announced plans to invest Rs 1 lakh crore in airport infrastructure over the next five years, reinforcing its long-term commitment to India’s aviation sector. The investment will focus on expanding capacity, modernising facilities and enhancing passenger experience across airports operated by the group.

According to officials, the proposed investment will be used for development of terminals, runways, cargo facilities and supporting infrastructure. The group aims to cater to rising air traffic demand while aligning with the government’s vision of strengthening aviation connectivity across the country.

The Adani Group currently operates multiple airports across major cities and has been expanding its footprint in the aviation sector. Industry experts said the planned investment is expected to generate employment, boost regional connectivity and contribute significantly to economic growth.

New Delhi, December 19:
Recent financial trends indicate that consumers are increasingly using credit cards and UPI platforms for high-value purchases, reflecting a shift in payment behaviour across India. Analysts said the change is driven by convenience, rewards, and improved digital payment infrastructure.

According to experts, the use of UPI for significant transactions has grown due to its real-time settlement feature, while credit cards offer additional benefits such as cashback, EMI options, and purchase protection. Retailers and service providers are adapting by supporting multiple digital payment methods to cater to evolving consumer preferences.

Financial institutions noted that this shift also signifies growing consumer confidence in digital and cashless payments. The trend is expected to continue, influencing banking strategies, digital payment adoption, and overall economic activity in the country.

Bhubaneswar, December 19:
Odisha on Thursday inaugurated a two-day regional Artificial Intelligence (AI) summit aimed at promoting innovation and sustainable development through advanced technology. The summit brought together industry leaders, policymakers, and researchers to discuss AI applications in sectors such as agriculture, healthcare, and urban planning.

Officials said the event will showcase emerging AI solutions that can help achieve environmental sustainability, enhance efficiency, and drive economic growth. Key sessions will focus on ethical AI, data-driven governance, and collaboration between academia and industry.

The summit also includes workshops, panel discussions, and networking opportunities for startups and technology enthusiasts. Organisers highlighted Odisha’s vision of becoming a regional hub for AI innovation while prioritising responsible and sustainable technological advancement.