BILKUL BAZAAR— The Daily News Wrap
9:00 PM |11 – 12 Aug 2026
National Business News Highlights
1. N Chandrasekaran to Step Down as Tata Sons Chairman
Tata Sons Chairman N Chandrasekaran announced that he will not seek reappointment when his current term ends in February 2027. Tata Group stocks came under pressure following the announcement.
2. Sensex Falls 188 Points, Nifty Ends Below 24,450
Indian equities ended lower for a second consecutive session. The Sensex slipped 188 points while the Nifty closed at 24,436, with firm crude prices and cautious sentiment weighing on investors.
3. Government Plans Fresh Stake Sales in Four PSUs
The Centre is likely to launch Offer for Sale transactions in Hindustan Zinc, Hindustan Copper, Mazagon Dock Shipbuilders and IRCTC during FY27. The proposed stake sales could range from about 1.5% in Hindustan Zinc to around 5% in the other companies.
4. Dhoot Transmission IPO Gets Strong Investor Response
The Dhoot Transmission IPO closed Wednesday after attracting bids for more than 185 crore shares against 2.49 crore shares on offer, translating into subscription of about 74 times.
5. Technocraft Ventures IPO Allotment Process Underway
The ₹251.88-crore Technocraft Ventures IPO entered the allotment stage after receiving strong demand. Shares are scheduled to list on the exchanges on August 14.
6. Government Extends EV Incentive for Electric Two-Wheelers
The Centre has extended support under the PM E-DRIVE scheme, offering incentives of up to ₹5,000 for electric two-wheelers until March 31, 2028. The government is also working on financing support for electric buses and trucks.
7. Equity Mutual Fund Inflows Fall 42% to ₹25,000 Crore
Fresh investments into equity mutual funds dropped 42% to around ₹25,000 crore, signalling a moderation in investor flows compared with the previous period.
8. Vodafone Idea Reaffirms ₹45,000-Crore Network Investment Plan
Vodafone Idea reaffirmed its three-year growth strategy, targeting double-digit revenue growth and a threefold increase in cash EBITDA. The telecom company plans to invest ₹45,000 crore in its network over three years.
9. India and Southern African Bloc Revive Trade Pact Talks
India and the five-member Southern African Customs Union signed terms of reference to restart negotiations aimed at expanding trade ties. The talks cover India’s commercial engagement with Botswana, Eswatini, Lesotho, Namibia and South Africa.
10. Apollo Hospitals Reports 34% Jump in Q1 Profit
Apollo Hospitals reported a 34.2% year-on-year rise in first-quarter net profit to ₹581 crore, while revenue increased 20.6% to ₹7,044 crore. The company plans a major expansion of its hospital capacity.
International Business News Highlights
1. US Inflation Rises Just 0.1% in July
US consumer prices increased 0.1% in July, in line with expectations. The relatively mild inflation reading strengthened expectations that the Federal Reserve may leave interest rates unchanged at its next meeting.
2. Global Stocks Gain After US Inflation Data
Global equity markets edged higher after the US inflation figures reduced immediate concerns about another Federal Reserve rate increase. Technology shares received additional support from strong AI-related earnings.
3. Oil Prices Ease as Demand Outlook Weakens
Crude prices slipped after OPEC lowered its forecast for 2026 global oil-demand growth to 580,000 barrels per day. Uncertainty surrounding US-Iran talks also kept energy markets volatile.
4. Lovable Raises $400 Million at $13.3 Billion Valuation
Swedish AI startup Lovable raised $400 million in a Series C funding round, more than doubling its valuation to $13.3 billion since December. The company develops software applications through natural-language prompts.
5. Foxconn Q2 Profit Jumps 35% on AI Demand
Taiwan’s Foxconn reported a 35% rise in second-quarter profit, beating market expectations as demand for AI-related hardware remained strong. The company expects AI demand to continue supporting its business.
💬 QUOTE OF THE DAY
“Price is what you pay. Value is what you get.”
— Warren Buffett
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