Author: Aruna Kaim

More than 5.5 crore Income Tax Returns (ITRs) have been filed for Assessment Year (AY) 2026-27, according to an update released by the Income Tax Department on Friday, July 31, 2026. Filing activity saw a massive surge in the final stretch, with over 42 lakh returns submitted on July 30 alone as taxpayers rushed to meet the deadline. Key Highlights Total Submissions: Over 5.5 crore ITRs filed for AY 2026-27 so far. Single-Day Surge: 42+ lakh returns filed on July 30. Deadline: July 31, 2026, for non-audit individual taxpayers and HUFs (ITR-1 and ITR-2). Form Eligibility Breakdown Form Type Eligible…

Gold remains one of the most reliable stores of value and wealth preservation tools in India. While short-term prices fluctuate, gold historically retains its purchasing power against inflation, making it both a popular investment and a practical financial safety net. Understanding what drives gold prices, how retail costs are calculated, and how lenders evaluate gold can help you make smarter decisions when buying, investing, or borrowing against your holdings. Why Gold Serves as an Inflation Hedge Inflation erodes the purchasing power of cash over time. Gold acts as a physical store of value because its supply is limited and its…

US-based financial services major Capital Group acquired nearly a 1.5% equity stake in non-banking financial company IIFL Finance through open-market bulk transactions valued at approximately ₹374 crore. Following the transaction data disclosure on the National Stock Exchange (NSE), shares of IIFL Finance jumped over 2% in intraday trade. Key Details of the Transaction Buyer: Capital Group, executed via its US-based affiliates—SmallCap World Fund Inc and American Funds Insurance Series Global Small Capitalization Fund. Seller: FIH Mauritius Investments, a wholly-owned subsidiary of Prem Watsa-backed Fairfax India Holdings. Volume Traded: 6,339,355 equity shares (representing a 1.49% to 1.54% stake). Average Deal Price:…

The Economic Times Family Business Awards honored some of India’s most prominent family-owned enterprises, celebrating their ability to blend generational wisdom with market-shaping innovation. As family businesses continue to serve as a cornerstone of India Inc.—contributing over 75% to the nation’s GDP—the awards recognized excellence across critical pillars including global competitiveness, investor value creation, digital transformation, and philanthropy. Key Award Winners & Categories Award Category Winner Key Achievement Focus Family Business of The Year – Mega Apollo Hospitals Enterprises Pioneering healthcare access, scale, and multi-generational leadership. Family Business of The Year – Large Muthoot FinCorp Financial inclusion, sustained retail trust,…

For decades, business commentators predicted that family-run enterprises in India would eventually buckle under global competition, governance challenges, or professionalization demands. Yet, from the 1991 economic liberalization to today’s digital era, family businesses have consistently proven to be the primary engine of India Inc, contributing over 75% to India’s GDP and delivering shareholder returns nearly double those of non-family firms. The ET Family Business Awards brought together top wealth creators, industry leaders, and policy experts to uncover the secret sauce enabling these generational powerhouses to balance legacy with innovation. 1. Generational Thinking Over Quarterly Pressure Unlike traditional corporations focused solely…

Quess Corp Ltd, one of India’s largest workforce management and business services providers, is executing a strategic pivot toward professional staffing and international expansion. The strategic realignment aims to drive margin expansion and reshape the company’s profit structure away from lower-margin volume plays over the coming years. Key Strategic Takeaways Shift Toward Higher-Margin Revenue: Profit Target: Higher-margin, specialized business segments—such as professional IT staffing, Global Capability Centers (GCCs), and overseas services—are projected to eventually account for 60% of total profits. Rebalancing General Staffing: While volume-driven general staffing currently contributes over 60% of total revenue, its long-term share of profit is…

Microsoft delivered a blockbuster quarterly earnings report that stunned Wall Street, sending its stock soaring nearly 16% in its largest single-day gain since 2008. The rally added hundreds of billions of dollars to Microsoft’s market capitalization and ignited a broader surge across technology and semiconductor stocks. 1. Core Highlights & Key Takeaways Azure Leads Cloud Expansion: Microsoft’s Azure cloud business posted revenue growth well above analyst estimates, driven by surging enterprise demand for AI-powered cloud infrastructure. Tangible AI Returns: The results alleviated investor fears that heavy capital expenditures in AI infrastructure would drag down profitability, proving that AI investments are…

Amazon delivered a stellar second-quarter earnings report, outperforming Wall Street estimates across revenue, operating income, and net profit. Driven by accelerating growth in Amazon Web Services (AWS) and soaring demand for its artificial intelligence infrastructure, Amazon shares jumped sharply in after-hours trading. 1. Key Drivers Behind the Market Rally Blockbuster Q2 Results: Top-line revenue surged 20% year-on-year to $200.6 billion, while operating income jumped 43% to $27.5 billion. Accelerating AWS Growth: Amazon Web Services reported $42.2 billion in revenue, marking a 37% YoY increase—its fastest growth rate in over four years. Rapid Expansion in Custom Chips & AI: Amazon’s AI…

Despite reporting a record-breaking fiscal third-quarter result that beat Wall Street estimates on both top-line revenue and bottom-line earnings per share, Apple shares declined in after-hours trading. The drop highlighted a market environment where investors focused heavily on future guidance, supply bottlenecks, and growth across specific segments rather than past performance. 1. Key Drivers Behind the Share Price Drop Soft Forward Guidance: Apple forecasted 9% to 11% revenue growth for the upcoming current quarter, which fell short of Wall Street expectations of around 12%. Supply Chain & Chip Constraints: Management raised concerns over supply constraints for advanced chips, threatening product…

Japan’s Ministry of Finance (MoF) and the Bank of Japan (BOJ) have a long history of intervening in foreign exchange markets. While earlier decades often saw Japanese authorities selling yen to prevent excessive currency strength from hurting export-led growth, recent operations have shifted heavily toward aggressive yen-buying and dollar-selling to defend against record currency weakness. Timeline of Major Foreign Exchange Interventions July 2026: Coordinated Foreign Exchange Action Context: The yen touched near four-decade lows around 163.99 per dollar due to elevated energy import costs and persistent interest rate differentials. Action: Suspected joint intervention during New York trading hours—coordinated alongside South…