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Rakesh Gangwal, family trust sell 3.1 pc stake in IndiGo for Rs 7,027 cr; shares fall over 4 pc

New Delhi, Aug 28 (PTI) InterGlobe Aviation promoter Rakesh Gangwal and his family trust divested up to a 3.1 per cent stake in IndiGo for Rs 7,027.7 crore through separate block deals on Thursday. After the stake sale, InterGlobe Aviation’s shares were trading 4.44 per cent lower at Rs 5,781 apiece on the NSE and the scrip of the company went down 4.16 per cent to Rs 5,793 each on the BSE. After the latest transaction, Rakesh Gangwal and his family trust’s holding in IndiGo has come down to 4.71 per cent from 7.81 per cent. Gangwal, the co-founder of

Stock markets dive in early trade as steep 50 pc US tariffs dent investors’ sentiment

Mumbai, Aug 28 (PTI) Stock market benchmark indices Sensex and Nifty tumbled in early trade on Thursday as the additional 25 per cent tariff imposed by US President Donald Trump on India for its purchases of Russian oil came into effect, weighing on investors’ sentiment. Besides this, foreign fund outflows also dented investors’ sentiment. The additional 25 per cent tariff imposed by the US on India came into effect on Wednesday, bringing the total amount of levies imposed on New Delhi to 50 per cent. The 30-share BSE Sensex tanked 508.16 points to 80,278.38 in early trade. The 50-share NSE

Rupee rises 10 paise to 87.59 against US dollar in early trade

Mumbai, Aug 28 (PTI) The rupee rose 10 paise to 87.59 against the US dollar in early trade on Thursday, supported by a weaker dollar index and easing Brent crude prices. Besides, the Reserve Bank of India (RBI) stepped in to protect the local unit from crossing its all-time low, further supporting the local unit, according to forex traders. However, FII outflows and weaker domestic equity markets prevented sharper gains in the local unit as an additional 25 per cent US tariffs on Indian products kicked in on Wednesday. At the interbank foreign exchange, the rupee opened at 87.56 against

Govt extends duty-free imports of cotton by 3 months till Dec 31

New Delhi, Aug 28 (PTI) The government on Thursday extended duty-free import of cotton by three more months till December 31 to support textile exporters facing steep 50 per cent tariffs in the US. Earlier, on August 18, the Finance Ministry had allowed duty exemption on cotton imports from August 19 till September 30. In a statement on Thursday, the ministry said, “In order to support exporters further, the Central government has decided to extend the import duty exemption on cotton (HS 5201) from 30th September 2025 till 31st December 2025.” This includes exemption from both the 5 per cent

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