Category: BUSINESS

Thane, December 16: A textile businessman from Maharashtra’s Thane district has been allegedly cheated of Rs 35 lakh, following which a case has been registered against four persons, police said on Monday. According to officials, the accused reportedly approached the businessman with a business proposal and gained his trust before siphoning off the money.

Police said the complainant transferred the amount in multiple installments after being assured of high returns, but later realised he had been duped when the accused stopped responding. A case has been registered under relevant sections of the Indian Penal Code, and further investigation is underway to trace the accused and recover the money.

Visakhapatnam, December 16: IIM Visakhapatnam, in collaboration with the Association of Mutual Funds in India (AMFI), on Monday launched a statewide financial literacy programme aimed at educating students and teaching faculty across Andhra Pradesh. The initiative focuses on promoting awareness about savings, investments and personal financial planning.

Officials said the programme would train educators who will further guide students in making informed financial decisions. The drive is part of a broader effort to strengthen financial inclusion and improve financial decision-making among the youth.

New Delhi, December 15:
India’s power demand remained largely flat in November, according to industry reports, as mild weather conditions reduced consumption across residential and commercial sectors. Analysts said the moderation in temperature contributed to lower electricity usage compared to the same period last year.

Officials noted that while overall demand was steady, regional variations were observed, with some states reporting slight increases due to industrial activity. Experts added that stable power demand amid mild weather could help utilities manage generation costs and maintain grid stability heading into the winter months.

New Delhi, December 15:
A recent GenAI survey revealed that around 60% of Indians anticipate an increase in household spending over the coming months. Respondents cited rising incomes, festive season purchases, and lifestyle upgrades as key factors driving higher expenditure expectations.

Analysts noted that the sentiment reflects growing consumer confidence despite inflationary pressures in certain sectors. The survey also highlighted that discretionary spending on education, electronics, and travel is expected to rise, suggesting a positive outlook for retail and service industries in India.

Mumbai, December 15:
The Initial Public Offering (IPO) of ICICI Prudential Asset Management Company (AMC) entered its second day on Monday, attracting strong investor attention. The IPO is priced within a band of ₹760-₹800 per share, with a grey market premium (GMP) currently reflecting healthy demand in secondary markets.

Market analysts said the issue has generated significant interest among retail and institutional investors due to the company’s strong market presence and consistent performance in the mutual fund segment. Investors are closely watching subscription trends and allotment prospects, while experts believe the IPO could set the tone for the broader financial services sector in the coming weeks.

New Delhi, December 15:
The Enforcement Directorate (ED) questioned Yes Bank co-founder Rana Kapoor in connection with a case involving industrialist Anil Ambani, officials said on Monday. The questioning is part of an ongoing investigation into alleged financial irregularities and transactions linked to corporate loans.

Authorities said Kapoor’s statements are being recorded to assess his role and gather evidence related to the matter. Investigators indicated that the inquiry is aimed at uncovering financial mismanagement and ensuring accountability of all parties involved, while further legal proceedings are expected based on the findings.

New Delhi, December 15:
Delhi’s Indira Gandhi International Airport experienced significant flight disruptions on Monday, with more than 75 flights delayed and around 40 flights cancelled due to dense fog and poor visibility. Airport authorities said the weather conditions affected both arrivals and departures, leading to inconvenience for passengers.

Officials added that efforts are underway to reschedule flights and ensure smooth operations as conditions improve. Passengers were advised to check with their airlines for updates, while airport management deployed additional staff to assist travelers and manage the high volume of traffic amid the weather-related disruptions.

Mumbai, December 15:
Motilal Oswal has maintained a ‘Buy’ rating on Amber Enterprises shares, citing the company’s strong fundamentals and long-term growth potential despite facing near-term headwinds. Analysts noted that operational challenges and input cost pressures may impact short-term margins, but the overall business outlook remains positive.

The brokerage has revised the target price for Amber Enterprises, reflecting both current market conditions and expected recovery in demand across segments. Experts said the company’s robust order book, diversified product portfolio, and strategic positioning in the air-conditioning components and consumer electronics sector support sustained growth, making it an attractive investment for long-term investors.

Mumbai, December 15:
Investors and market experts are increasingly turning to the QGLP formula as a framework to identify high-growth stocks on India’s equity markets. QGLP, which stands for Quality, Growth, Longevity, and Price, helps assess a company’s fundamentals, growth potential, business durability, and valuation. Analysts said the method provides a structured way to spot potential long-term “compounders” capable of delivering consistent wealth creation over time.

Market observers highlighted a five-point guide for applying QGLP effectively: evaluate business and management quality, assess historical and projected growth, examine industry longevity, determine fair pricing, and monitor risk factors alongside market conditions. While not a guaranteed predictor of success, experts said QGLP can serve as a useful tool for both retail and institutional investors seeking to identify companies with strong fundamentals and sustainable growth potential.

New Delhi, December 15:
India’s wholesale inflation eased in November, reflecting a moderation in food prices and reduced pressure on industrial commodities. The Wholesale Price Index (WPI) showed a slowdown compared to previous months, signalling some relief for businesses and supply chains across the country.

Government officials and analysts said the decline in food prices, particularly in vegetables, cereals, and edible oils, contributed significantly to the moderation. While core inflation remained stable, experts noted that the trend could ease input costs for manufacturers and provide some respite to consumers ahead of the festive season.