Business News: Economy & Markets

India's Rs 42 lakh crore PMS industry at defining inflection point: SEBI

IANS | June 11, 2026 1:40 PM

New Delhi, June 11 (IANS) India's portfolio management services (PMS) industry -- which manages assets worth around Rs 42 lakh crore and serves more than 2.1 lakh investor accounts -- is at a defining inflection point and has the potential to emerge as a major pillar of the country's investment ecosystem, a senior Securities and Exchange Board of India (SEBI) official said on Thursday.

Collective efforts of Centre, states to play pivotal role in realising Viksit Bharat vision: PM Modi

IANS | June 11, 2026 1:08 PM

New Delhi, June 11 (IANS) Prime Minister Narendra Modi said on Thursday that the Centre and states were working together to accelerate the country’s growth momentum to achieve the goal of a developed India by 2047.

TCS to empower 50,000 associates with Claude AI

IANS | June 11, 2026 12:44 PM

New Delhi, June 11 (IANS) Indian IT giant Tata Consultancy Services (TCS) on Thursday announced a global strategic partnership with US-based AI firm Anthropic and said it will enable 50,000 associates across functions to use Claude as part of its enterprise-wide AI adoption strategy.

Gold, silver prices fall up to 2 pc amid West Asia tensions

IANS | June 11, 2026 12:36 PM

Mumbai, June 11 (IANS) Gold and silver prices traded lower on Thursday, with precious metals falling by up to 2 per cent amid escalating tensions in the West Asia conflict.

Hybrid long‑short funds contribute 70 pc of SIF AUM in May: Report

IANS | June 11, 2026 11:59 AM

New Delhi, June 11 (IANS) Hybrid long‑short funds contributed 70 per cent of total Specialised Investment Funds (SIFs) assets under management in May, amounting to Rs 9,709 crore and recording an average folio size of Rs 33.9 lakh, a report said on Thursday.

RBI likely to reopen licensing window for urban co-operative banks: Report

IANS | June 11, 2026 11:36 AM

New Delhi, June 11 (IANS) The Reserve Bank of India (RBI) is likely to revive the issuance of fresh licences for urban co-operative banks (UCBs), a move that would end a two-decade pause on new entrants in the sector, according to a report.

India's auto ancillary sector revenues triple to Rs 5 lakh crore in a decade

IANS | June 11, 2026 11:27 AM

New Delhi, June 11 (IANS) India's listed auto ancillary sector has nearly tripled its revenues to about Rs 5 lakh crore over the past decade, an 11 per cent compound annual growth rate (CAGR) during FY16-26, a report said on Thursday.

West Asia conflict could push crude oil prices to $150 per barrel: Report

IANS | June 11, 2026 10:56 AM

New Delhi, June 11 (IANS) Global crude oil prices could surge to as high as $150 per barrel if hostilities between the US and Iran resume in earnest, according to a report.

India highlights success of new labour reforms at ILO conference in Geneva

IANS | June 11, 2026 10:47 AM

New Delhi, June 11 (IANS) India has undertaken wide-ranging labour reforms guided by the principle of “Antyodaya” through consolidation of 29 Central Labour Laws into four Labour Codes — to simplify compliance, strengthen workers’ welfare and create a modern and transparent labour ecosystem, according to Union Minister of State for Labour and Employment Shobha Karandlaje, an official statement said on Thursday.

US proptech firm Opendoor shuts India operations; cuts 250 jobs

IANS | June 11, 2026 10:26 AM

New Delhi, June 11 (IANS) US-based real estate technology company Opendoor has begun winding down its India operations, with CEO Kaz Nejatian announcing that roles currently based in the country will be relocated closer to the company's customers in the United States.