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Cabinet clears Rs 77,101-crore package for museum, metro, fertiliser subsidy and credit funds
On Wednesday, the Union Cabinet approved significant proposals for infrastructure and business support across India. The government will allocate ₹3,230 crores for the Yuge Yugeen Bharat Museum in New Delhi. A metro rail project linking Noida and Greater Noida will receive ₹2,390 crores for development. Additionally, ₹62,370 crores will be set aside for NBS rates on fertilizers for the Rabi 2026-27 season.
Rs 12.6 lakh salary, Rs 9.2 crore transactions: Telecom company employee lands on Income Tax radar over businesses he claims he never owned
A telecom company employee earning Rs 12.6 lakh annually allegedly faces questions over undisclosed income of Rs 9.2 crore after fraudsters misused his PAN and KYC documents to create fake businesses and obtain GST registrations. The entities reportedly recorded transactions worth Rs 6.5 crore in two months. Delhi Police's Economic Offences Wing has registered an FIR and is investigating the alleged identity theft.
Government invites fresh applications under Rs 2,700 crore medical device PLI scheme
The government is inviting new applications under the Production Linked Incentive Scheme for Medical Devices. This scheme has been extended until 2035-36 with an outlay of Rs 2,700 crore. Eligibility conditions have been simplified, and new applicants can submit multiple applications across different target segments. The revised scheme aims to enhance domestic manufacturing of high-end medical devices and improve global competitiveness.
NTPC submits two coal gasification project proposals under govt's Rs 37,500 crore scheme
NTPC Limited has submitted proposals to establish coal gasification projects for producing urea, methanol, and dimethyl ether. The Ministry of Coal announced that applications for the third round will open on November 10. January 11, 2027, is set as the deadline for these applications. The government's initiative aims to expand domestic production and support the broader use of indigenous resources.
CM Chandrababu Naidu wants to scrap Rs 500 notes, wants only currency like 100 and Rs 200 in circulation to help tackle corruption
Indian rupees news: N Chandrababu Naidu has reiterated his demand to withdraw high-denomination currency notes like Rs 500. He believes that limiting circulation to Rs 100 and Rs 200 can help tackle corruption effectively. While the Reserve Bank of India is exploring plastic notes for lower denominations, no proposals exist to replace paper currency entirely. Additionally, discussions around digital payments highlight their complementary relationship with physical banknotes.
Shreya Ghoshal lives in a luxurious Rs 29 crore Mumbai home: It has a grand piano, veined marble floors, and terracotta chairs
Shreya Ghoshal, regarded as one of India's best playback singers, has contributed many popular songs to the Hindi and regional cinema industries. During a recent visit with YouTuber and filmmaker Farah Khan, the well-known singer gave followers a glimpse into her opulent Mumbai home. Beige, ivory, and earthy terracotta hues dominate the serene interior design of the vocalist of Mere Dholna Sun's modern home.
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From petrol pump attendant to Rs 6,70,00,00,000 investment scam: How Hyderabad's Nanavath Bhupal Naik, who also worked as mason, built massive empire by luring 7,400 investors
Nanavath Bhupal Naik, a former mason and petrol pump attendant, is accused of masterminding an alleged Rs 670-crore investment scam involving around 7,400 investors. The Cyberabad Economic Offences Wing is investigating two companies, Shares Bazaar Pvt Ltd and Kisaan Parivar Ltd, which allegedly promised monthly returns of 4% and tax-free annual returns of 24%.
Vedant Poly Fabs shares to list on SME platform today; check GMP ahead of debut
Shares of Vedant Poly Fabs will list on the NSE SME platform today, November 9. The Rs 56.68 crore IPO saw 1.90 times overall subscription. Grey market premium indicates a marginal listing gain around Rs 95 per share against the issue price of Rs 94.
Failed UPSC dream to Rs 130 crore success: How Bengaluru man turned Rs 1 crore investment into a healthy food business
Sandeep Jangala's journey began with a dream of becoming an IAS officer, but the road to success was not without its obstacles after his UPSC attempt fell short. Undeterred, he pivoted to entrepreneurship, successfully launching a tech startup that caught the attention of investors. In 2022, he and his wife co-founded Yummy Bee, a company dedicated to providing children with healthy food choices.
Government clears Rs 7,503 crore investments under ECMS in sixth tranche
The latest group of 12 applicants includes manufacturers of up- stream materials such as anode and cathode materials. Together, these companies plan to produce goods worth 182,243 crore at faci- lities across 10 states and employ more than 9,500 workers.
Travomint parent SNVA Traveltech files updated draft papers with Sebi for public offering
SNVA Traveltech, parent of online travel platform Travomint, has filed updated IPO papers with SEBI for an entirely offer-for-sale issue of 12.75 crore shares. FY26 revenue rose 58.1%, while net profit jumped 73.7% year-on-year.
CBI books Kishore Biyani, Future Retail in Rs 904-crore bank fraud case
The Central Bureau of Investigation has initiated a case against Kishore Biyani along with Future Retail Ltd. This case pertains to an alleged bank fraud involving a total of Rs 904.32 crore. The complaint was filed by the State Bank of India's Stressed Assets Management Branch-III in Mumbai. Allegations include criminal conspiracy along with cheating against the accused parties.
FIIs turn buyers in IT, telecom stocks in second half of October ahead of Diwali
Technology stocks in India are seeing increased interest from foreign institutional investors as Diwali approaches. After struggling in the first half of October, the IT and telecom sectors have gained attention. Foreign portfolio investors made significant net purchases of Indian equities in late October. This upward trend follows substantial selling earlier in the month. The shift highlights a renewed focus on technology investments within the Indian market.
TReDS sees a festive boost; Nykaa’s growth strategy
Happy Friday! Festive inventory demand has lifted invoice financing on TReDS platforms. This and more in today’s ETtech Morning Dispatch.
Paras Healthcare posts Rs 40 crore Q2 net profit in first results after listing
Paras Healthcare announced a profit after tax of Rs 40.35 crore in the September quarter. This performance shows a significant increase from the net profit of Rs 12.38 crore reported last year. Revenue from operations reached Rs 510.89 crore, with expenses at Rs 463.12 crore during the same period. The company utilized a portion of its IPO proceeds to strengthen its balance sheet.
Britannia looks beyond biscuits, turns to regional tastes and festive campaigns to drive FMCG growth
Britannia Industries is focusing on localised marketing to resonate with diverse Indian consumer preferences. The company has launched festive campaigns and brand activations targeting specific regional occasions. Britannia reported a year-on-year sales increase of 16.6% to Rs 5,542 crore for the September quarter. Their growth strategy involves expanding beyond traditional biscuits into bakery and adjacency products. The approach aims to sustain competitive growth amid rising competition from smaller local brands.
Centre advances November tax devolution, releases Rs 1.09 lakh crore to states ahead of festive season
On November 5, 2026, the Centre released over Rs 1.09 lakh crore to state governments in advance. This release is typically done on November 10 each year, but it was advanced this time. The finance ministry stated that this advance supports states in boosting capital expenditures. The advance aims to assist states in financing their development and welfare-related projects.
EPL Q2 Results: Profit rises 4% YoY to Rs 111 crore
EPL reported a notable 4.52% increase in net profit, reaching Rs 110.9 crore for the September quarter of FY27. With revenues from operations climbing to Rs 1,567.4 crore, a 30% year-on-year growth, the Beauty & Cosmetics and Oral Care segments played pivotal roles. Despite higher expenses, the EBITDA margins held strong above 20%. Looking forward, EPL is set to focus on sustained revenue growth and stable profit margins.
HDFC Bank's Parivartan bolsters agricultural livelihoods in Kashmir through market linkages
As part of its Corporate Social Responsibility initiative, HDFC Bank has taken initiatives to boost agricultural productivity in the Kashmir region. This program has successfully raised revenues for local Farmer Producer Organisations, including one that reached Rs 1.4 crore. Farmers are receiving training to process and market their goods effectively, creating direct sales links for improved pricing.
Unilever announces €35 million investment for R&D expansion in India’s Mumbai and Bengaluru hubs
Unilever announced a plan to invest an additional €35 million in its Indian research and development operations. The investment aims to enhance product innovation and biotechnology capabilities at its Mumbai and Bengaluru centers. Unilever has already invested €20 million over the past five years towards developing various research facilities in India.
CM Joseph Vijay disburses Rs 3,000 cr credit to SHGs in Perundurai, sips tea, buys local crafts
On Tuesday, Tamil Nadu's Chief Minister Joseph Vijay announced a remarkable distribution of Rs 3,000 crore to self-help groups statewide. During the event in Erode district, which received Rs 1,110 crore, over 9,000 members benefited directly. The Chief Minister also engaged with an exhibition displaying successful products crafted by women, enhancing support for their vital contributions to the local economy and showcasing their exceptional talents.
India aiming to achieve Rs 3 lakh crore defence production, Rs 50K crore defence exports by 2029: Rajnath Singh
India aims to build a self-reliant defence ecosystem to meet national security challenges effectively. Defence Minister Rajnath Singh highlighted budget increases and production goals during a recent meeting. The focus includes modernizing military capabilities and enhancing personnel preparedness for contemporary warfare. Strategic autonomy, technological advancements, and operational readiness are crucial for India's military future. The objective is a military that can handle various security challenges through continuous modernization efforts.
Rajasthan man opens bank app to check balance, finds Rs 10,00,00,00,00,000 lien on account where he had Rs 55,000; bank blocks his entire savings
A 22-year-old medical store employee in Rajasthan's Sikar, earning Rs 10,000 a month, found a Rs 1 lakh crore lien on his Kotak Bank account while trying to recharge his phone. His Rs 55,000 savings also became inaccessible. Police and the bank later confirmed a technical glitch, and the hold was lifted.
ITC Q2 Results: Profit falls 18% to Rs 4,229 crore, revenue rises 5%
ITC Q2 Results: ITC Ltd reported an 18.5% decline in consolidated net profit for the September quarter on Monday as a sharp fall in earnings from its cigarette business weighed on overall profitability despite strong growth in its FMCG, agriculture and paper businesses.
Mold-Tek Packaging shares surge 17% as Q2 FY 27 profit jumps 35% YoY to Rs 21 crore
Mold-Tek Packaging shares surged nearly 17% after the company reported a 35.5% YoY rise in Q2 FY27 net profit and 30.5% revenue growth. Strong pharma and FMCG packaging volumes supported performance, while new product launches and expansion plans strengthened its growth outlook.
Delhi techie couple donates Rs 50 to political party, claims Rs 40 lakh ITR deduction, evades Rs 5.3 crore income tax, faces IT probe
A Delhi-NCR techie couple allegedly claimed Rs 40 lakh in tax deductions after donating just Rs 50 to a political party. An Income Tax Department probe uncovered fabricated donation receipts, a ChatGPT-generated Yale education loan certificate, bogus housing loan claims and undisclosed rental income, estimating tax evasion of Rs 5.3 crore over five years.
Inside Gujarat's Rs 426 cr tourism makeover: Rs 14.3 cr Rain Forest, Rs 16 cr cruise, Rs 50 cr IRCTC hotel, Rs 5.79 cr Cactus & Butterfly Garden
Prime Minister Narendra Modi inaugurated 23 projects worth Rs 307.83 crore and laid the foundation stones for eight more worth Rs 118.88 crore in Gujarat's Ekta Nagar on Rashtriya Ekta Diwas. The projects include a Rs 50 crore IRCTC hotel, Rs 16 crore Ekta Cruise, Rain Forest attraction, Eco Trail, improved roads, travelators and waste management facilities around the Statue of Unity.
MCD to hire 1,066 staff for mosquito control; clears Rs 923.6 crore for road-sweeping project
The Municipal Corporation of Delhi has authorized the hiring of 1,066 contractual staff to enhance efforts against mosquito-borne diseases, alongside approving a Rs 923.6-crore project for 70 mechanical road-sweeping machines. This recruitment targets roles crucial for monitoring and controlling diseases, while the sweeping machines aim to reduce pollution and improve road cleanliness.
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