Business News: Economy & Markets

SBI Funds Management discloses untraceable secretarial records in IPO document

IANS | July 10, 2026 5:20 PM

New Delhi, July 10 (IANS) SBI Funds Management Ltd -- which is set to launch its initial public offering (IPO) next week -- has disclosed in its Red Herring Prospectus (RHP) that it is unable to trace certain historical corporate records and warned that it cannot assure investors that no legal or regulatory action will be initiated in the future over the missing filings.

Centre clarifies on misleading reports on 1600 and 140 series phone numbers

IANS | July 10, 2026 4:36 PM

New Delhi, July 10 (IANS) The government on Friday issued clarifications on certain media reports regarding functioning of designated 1600 series and 140 series, which could potentially lead to misinformation or misinterpretation of operation of these designated series.

Sensex, Nifty end 1 pc higher as IT, financial stocks rally

IANS | July 10, 2026 4:04 PM

Mumbai, July 10 (IANS) Domestic equity benchmarks ended about 1 per cent higher each on Friday, extending their gains on the back of strong buying in information technology (IT), financial stocks, and realty stocks.

SIP inflows hit three-month high in June; Gold ETF inflows surge over 570 pc

IANS | July 10, 2026 3:34 PM

New Delhi, July 10 (IANS) Mutual fund systematic investment plan (SIP) inflows touched a three-month high of Rs 31,781 crore in June -- an increase of 3 per cent month-on-month and 17 per cent from a year ago -- despite volatile market conditions amid West Asia conflict.

India’s UPI welcome in New Zealand as we modernise our economy: Trade Minister

IANS | July 10, 2026 3:25 PM

Auckland, July 10 (IANS) As the Unified Payments Interface (UPI) expands its global footprint, New Zealand is ready to experience the digital payment freedom that comes with India's unique and indigenously developed QR-based system, its Trade and Investment Minister, Todd McClay, said on Friday.

Elecon Engineering Q1 net profit plunges 60 pc, margins shrink

IANS | July 10, 2026 3:12 PM

New Delhi, July 10 (IANS) Elecon Engineering Company Ltd on Friday reported a sharp 60 per cent year-on-year decline in its consolidated net profit for the first quarter of FY27, as margin pressure weighed.

India, New Zealand to build new connectivity links, shipping routes amid global tensions: Trade Minister McClay

IANS | July 10, 2026 3:00 PM

Auckland, July 10 (IANS) As the US-Iran tensions threaten the global supply chain once again, New Zealand's Minister for Trade and Investment, Todd McClay, said on Friday that New Delhi and Wellington are going to build new connectivity links, along with shipping routes being firmed up between the two nations.

India advances towards an AI-ready digital future: Report

IANS | July 10, 2026 2:44 PM

New Delhi, July 10 (IANS) India is shifting from foundational digitisation toward more integrated, accessible and AI‑ready citizen services, with a Digital Government Index score of 58.2, a report said on Friday.

Equity mutual fund inflows rise 26 pc to Rs 28,973 crore in June: AMFI data

IANS | July 10, 2026 2:33 PM

New Delhi, July 10 (IANS) Equity-orientated mutual funds attracted net inflows of Rs 28,973.41 crore in June -- up 26.47 per cent month-on-month -- which indicated sustained investor interest in equities despite volatility in the broader market amid geopolitical tensions, according to monthly data released by the Association of Mutual Funds in India (AMFI) on Friday.

China striking economic deals in Sudan under cover of peace rhetoric: Report

IANS | July 10, 2026 2:27 PM

New Delhi, July 10 (IANS) With western countries having pulled out of Sudan after the relentless civil war that has been raging in the African nation over the last three years, China has taken advantage of the situation to strike economic deals with the military junta and spread its geopolitical clout, according to a new report.