Latest Developments

Asia
The Economic Times

Physicswallah among top 5 smallcap stocks facing highest mutual fund selling in July

These top 5 smallcap stocks witnessed the highest net selling by mutual funds in July. Here is a detailed breakup, according to a report by Motilal Oswal Financial Services. Amara Raja Enterprises witnessed the highest net selling by mutual funds in July. The value change in July was Rs 8.7 billion, and the value change was (3.3) % every month. On a monthly basis, the shares changed by (10.5)%. The percentage of smallcap value was 0.3% Welspun Corporation witnessed net selling in mutual funds in July. The value change in July was Rs 31.4 billion, and the monthly value change was (1.8) % every month. Monthly, the shares changed by (9.4)%. The percentage of smallcap value was 1%. NBCC witnessed net selling in mutual funds in July. The value change in July was Rs 12 billion, and the monthly value change was (18.2)%. On a monthly basis, the shares changed by (9.4)%. The percentage of smallcap value was 0.4%. IIFL Finance witnessed net selling in mutual funds in July. The value change in July was Rs 5.3 billion, and the monthly value change was 9.6%. On a monthly basis, the shares changed by 8.5%. The percentage of smallcap value was 0.2%. Physicswallah witnessed net selling in mutual funds in July. The value change in July was Rs 14.8 billion, and the monthly value change was (7.8)%. On a monthly basis, the shares changed by (8.3)%. The percentage of smallcap value was 0.5%.

Physicswallah among top 5 smallcap stocks facing highest mutual fund selling in July
Europe
The Guardian

Judge signals Trump’s defamation lawsuit against Wall Street Journal may be dismissed again

Media mogul Rupert Murdoch looks on as Donald Trump speaks to members of the media during proclamation signings and appointments inside the Oval Office at the White House on 3 February 2025. Photograph: Craig Hudson for The Washington Post via Getty ImagesView image in fullscreenMedia mogul Rupert Murdoch looks on as Donald Trump speaks to members of the media during proclamation signings and appointments inside the Oval Office at the White House on 3 February 2025. Photograph: Craig Hudson for The Washington Post via Getty ImagesWall Street JournalJudge signals Trump’s defamation lawsuit against Wall Street Journal may be dismissed againObama-appointed judge seemed unmoved by Trump attorneys’ arguments in case also naming Murdoch A federal judge in Florida seemed skeptical of arguments from Donald Trump’s legal team on Wednesday over whether the court should allow a $10bn defamation lawsuit against the Wall Street Journal to move forward. Trump sued the Journal and the News Corp founder Rupert Murdoch over a July 2025 article about a “bawdy” letter reportedly from Trump that was included in a 2003 birthday book for disgraced financier Jeffrey Epstein. Trump has denied authoring or signing the letter, and his attorneys have argued that the Journal published the story despite having been told it was false. US district court judge Darrin P Gayles initially dismissed the case in April, arguing that Trump’s attorneys had not sufficiently pleaded actual malice, the legal standard needed to win a defamation case, but he gave Trump an opportunity to refile the lawsuit. The president’s legal team refiled the suit in May. Representing the president, attorney Alejandro Brito, who is also handling the president’s $10bn defamation lawsuit against the BBC, argued that the Journal “didn’t follow journalistic standards sufficient to making the claims”. “The defendants did not and could not have [done] the investigations to make the definitive statements in this article,” Brito said in a Miami courtroom on Wednesday. Furthermore, he said that only four people could attest to the veracity of the letter: Trump, who has denied it; Epstein, who died by suicide in 2019; the bookbinder, who is also deceased; and Epstein associate Ghislaine Maxwell, who said she does not recall who participated in the birthday book project. But the judge seemed particularly skeptical that Trump was financially harmed by the Journal’s publication, saying his lawyer’s claims seemed “rather conclusory”. Brito responded that Trump’s team did not need to specify financial harm and had “done enough at this stage”. Lawyers representing Murdoch, the Journal and parent company News Corp argued that Trump’s team had made no headway in their attempts to prove that the president was defamed by the story, headlined “Jeffrey Epstein’s Friends Sent Him Bawdy Letters for a 50th Birthday Album. One Was From Donald Trump.” “The amended complaint is no better than the original complaint,” said Andrew J Levander, an attorney representing the defendants. “It is time for this baseless lawsuit to come to an end. You gave the plaintiff a roadmap to fix this case and he couldn’t do it.” Lawyers for the defendants argued that Trump’s legal team mischaracterized the article and that the Journal could not be expected, as a matter of journalistic prerogative, to refrain from publishing an article simply because of the president’s denial.

Judge signals Trump’s defamation lawsuit against Wall Street Journal may be dismissed again
Asia
The Hindu BusinessLine

Patanjali Foods Q1 results: Profit rises 86% to ₹336 cr

Patanjali Foods Ltd has reported an 86 per cent increase in its consolidated net profit to ₹335.73 crore in the quarter ended June, backed by higher total income. Total income rose to ₹11,341.89 crore during the first quarter of this fiscal from ₹8,779 crore in the corresponding period of the preceding year, according to a regulatory filing. Edible oil business contributed ₹8,504 crore revenue during the April-June period of the 2026-27 fiscal, while the FMCG vertical accounted for ₹2937.74 crore of the total revenue. Incorporated in 1986, Patanjali Foods Limited is one of the leading edible oil companies in the country. The company operates in the Edible Oils, FMCG, and Wind Power Generation segments. It sells products under different brands like Patanjali, Ruchi Gold, Nutrela, Dant Kanti, Mahakosh, Sunrich, etc. During the 2025-26 fiscal, the company's net profit grew to ₹1,814.47 crore from ₹1,300.70 crore in the preceding year. Total income climbed to ₹40,347.78 crore last fiscal from ₹33,890.68 crore in the 2024-25 financial year. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Patanjali Foods Q1 results: Profit rises 86% to ₹336 cr
Asia
The Hindu BusinessLine

India has around 440 space technology startups: DPIIT Start-up India portal

By mid-2026, 113 authorisations had been granted to 52 Non-Government Entities (NGEs) out of which 18 are start-ups for satellite operations, payload establishment and launch services. | Photo Credit: ANI Around 440 space technology startups are registered in India, as per the DPIIT Start-up India Portal. Indian National Space Promotion and Authorisation Centre (IN-SPACe) has granted 113 authorisations to 52 Non-Government Entities (NGEs) to carry out various space activities, out of which 18 are start-ups, Minister of State for Atomic Energy and Space Dr Jitendra Singh told the Rajya Sabha in a written reply earlier this week. The applications for usage and access to ISRO infrastructure (including the launch pads at ISRO's Satish Dhawan Space Centre, Sriharikota) are processed as per the standard SOP based on the application received by IN-SPACe on its Digital Platform and the readiness aspects are reviewed by an Expert Committee of IN-SPACe, the minister said. Two commercial rockets are proposed to be launched by Indian private companies in FY 26-27. For FY 27-28, the launch manifest is yet to be approved by IN-SPACe. The minister said over six launches may be undertaken by Indian private companies. According to government data, private investment in India's space sector surged nearly six-fold, climbing from $100.5 million in 2021-22 to $618.5 million by March 31, 2026, with $187 million recorded during 2026 alone. The Union Cabinet led by Prime Minister Narendra Modi took a decision in June 2020 to open up the Space sector and enable the participation of Indian private sector in the entire gamut of space activities. To facilitate private sector participation, the government created the IN-SPACe, as a single-window, independent, nodal agency which functions as an autonomous agency in Department of Space (DOS). By mid-2026, 113 authorisations had been granted to 52 Non-Government Entities (NGEs) out of which 18 are start-ups for satellite operations, payload establishment and launch services. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

India has around 440 space technology startups: DPIIT Start-up India portal
Europe
BBC Business

Is football AI-proof? Why tech investors wanted a slice of the World Cup

Fifa has been forced to U-turn on plans to sell off a slice of the World Cup after fierce opposition, with threats of future boycotts and calls for the governing body's president, Gianni Infantino, to quit. But why were a group of tech investors interested in the World Cup in the first place, and are similar proposals in the future inevitable? In a world in which AI could upend human recreation and pastimes, executives at Thrive Eternal, a spin-off of venture capital firm Thrive Capital, saw an opportunity to lead a group of investors to place cash in the biggest sporting competition on the planet. The football World Cup was seen as the latest in a new strategy from the firm, which believes that sport will not only survive the AI revolution, but grow in value. Run by Joshua Kushner, the brother of US Donald Trump's son-in-law and adviser Jared, Thrive mainly invests in technology companies developing artificial intelligence (AI) and it has been a major financial backer of OpenAI. But in April this year, the New York City-based entity created the new investment arm Thrive Eternal in order to invest in areas that have "qualities that cannot be replicated by technology". Sport is central to that strategy, and that is where football - and securing a minority stake in the World Cup under Fifa's proposed Forward Enterprise (FFE), - became an opportunity. The view is that the tradition, cultural and identity aspects of football will protect the sport from being upended by AI compared with other forms of entertainment such as movies and music, which are already seeing the technology start to replace humans. Professor Simon Chadwick has worked in the global sports industry for 30 years, including working with both fan groups, football clubs and governing bodies Fifa and Uefa. He said investment interests and commercialisation in general meant a lot of decisions were being made on behalf of football and fans "in Wall Street and Silicon Valley". "It is almost as though it's crept up on us and a lot of people haven't really thought about what's happening," he told the BBC. While it raised governance questions for Fifa, he added: "Whether people like it or not, private equity investment in sport is happening."

Is football AI-proof? Why tech investors wanted a slice of the World Cup
Asia-Pacific
The Straits Times

China inflation slows in July, below forecast

Sluggish domestic consumption has threatened to weigh down national growth in China, even as exports and certain high-tech sectors boom. BEIJING – China’s consumer and factory prices grew slower than expected in July, official data showed on Aug 9, as the world’s second-largest economy confronts persistent deflationary pressure. The consumer price index, a key gauge of inflation, eased to 0.5 per cent year-on-year, according to the National Bureau of Statistics (NBS). That was lower than the 0.8 per cent forecast by a Bloomberg survey and the slowest rise since January. Sluggish domestic consumption has vexed Beijing for several years, threatening to weigh down national growth even as exports and certain high-tech sectors boom. Many economists contend that China must shift towards a growth model driven more by household spending than the traditional engines of past decades, including real estate and infrastructure investment. A gauge of China’s factory-gate prices, which measures the cost of goods at the first point of sale, also grew at a slower pace in July, NBS data showed on Aug 9. The producer price index increased 3.5 per cent year-on-year in July, slowing from 4.1 per cent in June and lower than the 3.8 per cent forecast by Bloomberg. “Economic momentum softened in (the second quarter)“ of 2026, wrote Zhiwei Zhang, president and chief economist of Pinpoint Asset Management, in a note on the data on Aug 9. A meeting of the ruling Communist Party’s high-ranking Politburo in late July “signalled stronger fiscal spending as the policy response”, wrote Zhang, adding that a couple of months are needed to assess how it may boost domestic demand. The latest figures come two days after trade data for July showed exports and imports soaring, boosted by increased overseas demand for AI-related tech products. The surge in exports in 2026 has helped China’s vast manufacturing sector through the prolonged slump in domestic spending. AFP

China inflation slows in July, below forecast
Asia
The Hindu BusinessLine

Who Am I? August 9, 2026

Here’s a challenge. Using the five clues below, identify the company that is being talked about here. 1 My founder is a first-generation entrepreneur who began as a commodities trader and then went into manufacturing. 2 One of my competitors, whose products are promoted by one of India’s best-known couple, accused me of using his registered brand name. 3 I have more than one lakh shareholders even though domestic institutions own more than half the free float. 4 My founder’s family is worth more than a couple of billion dollars, while my entire market capitalisation was less than a billion dollars just three years ago. 5 My stock price is currently near an all-time high, having grown at a 20 per cent CAGR over the last five years. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Who Am I? August 9, 2026
Asia
The Hindu BusinessLine

Assam plans ₹1.5 lakh crore infrastructure investment over next five years: Himanta

Assam Chief Minister Himanta Biswa Sarma takes the salute during the 80th Independence Day celebrations at Veterinary College Playground, Khanapara, in Guwahati, Assam, Saturday, Aug. 15, 2026. | Photo Credit: PTI Assam Chief Minister Himanta Biswa Sarma on Saturday said that Rs 1.50 lakh crore will be invested in capital expenditure in the state in the next five years, of which Rs 50,000 crore will be from its own resources. Speaking after hoisting the National Flag at the Independence Day celebration here, he also appealed to people from various parts of the country who have settled here to list ‘Assamese’ as their mother tongue during Census data collection. He, however, added that people of Barak Valley and tribals may mention their own languages in that category. The Barak Valley has a predominantly Bengali-speaking population. “For building a ‘Vikshit Assam’ by 2047, we shall be spending Rs 50,000 crore in capital expenditure. The next four years will see investment in roads, schools, urbanisation, rural growth, etc, and this will be from our own funds,” Sarma said, in his first Independence Day speech after retaining the chief minister’s position for the second term. “In the next five years, we shall try to get Rs 1 lakh crore from the central government. From 2026 to 2031, the state will spend Rs 1.50 lakh crore on infrastructure,” Sarma added. He said the state’s economy has tripled in a decade and the state is now known from ‘chai’ to ‘chip’ of semiconductors, referring to the upcoming Tata factory in the state. “We don’t have the sea and resources like Odisha; faced decades of insurgency; but the ‘Assam model of development’ is shining now,” the CM asserted. He said schemes like ‘Orunodoi’ for women empowerment, transparently providing 1.65 lakh government jobs, digitalisation of administration, etc. are measures taken in the last five years that have transformed the state’s image. Thanking the people for reaffirming their trust in the BJP-led government in the April elections, Sarma said development will be further accelerated, and it can be seen through the steps taken in the first 100 days of the new regime, including bringing the Uniform Civil Code. He also expressed his gratitude to Prime Minister Narendra Modi for allotting massive infrastructure and other projects to the state, from highways to semiconductors, and from underwater tunnels to the Kaziranga Elevated Corridor, without the state even having to demand these. Sarma maintained that mandatory rendition of the complete six stanzas of the Vande Mataram for the first time since independence made the occasion more special. Blaming the Congress for the previous shorter version of the National Song being sung, he said, “For their own political interest, a section of Congress leaders had fragmented it. It is under PM Modi that all six stanzas of the song have been given the same status as the National Anthem.”

Assam plans ₹1.5 lakh crore infrastructure investment over next five years: Himanta
Asia
The Hindu BusinessLine

BMW Industries net profit jumps 26% in Apr-Jun quarter to ₹19.04 cr

Steel processing and manufacturing company BMW Industries has posted 25.76 per cent year-on-year growth in consolidated net profit to ₹19.04 crore in the June quarter, on account of growth in revenues. The company had clocked a net profit of ₹15.14 crore in the April-June period of the preceding 2025-26 fiscal, an exchange filing said on Friday. During the first quarter, the company increased total income to ₹176.68 crore, up 15 per cent, from ₹153.54 crore in Q1 FY26. In a separate statement, the company's Chairman Ram Gopal Bansal said, "We have reported a robust start to FY27, marked by healthy profitability growth and steady progress on our strategic expansion. EBITDA rose 22.2 per cent year-on-year, and EBITDA margin stood at a healthy 25.1 per cent, an expansion of 147 bps year-on-year." Bansal further said that the Greenfield Downstream Steel Complex project, which is being set up as part of an over ₹800 crore expansion plan at Bokaro, is progressing well, and revenue generation is expected to commence in Q2 FY27. The investment is being made as part of the government's PLI Scheme for speciality steel, which aims to promote the manufacturing of value-added steel grades in the country and help the Indian steel industry mature in terms of technology and move up the value chain. In FY 2025-26, the company's total income was at ₹680.02 crore, higher from ₹638.6 crore in FY25. During January-March 2026, the company -- which is in expansion mode -- entered into a partnership with Indian Oil Corporation Ltd for the supply of Piped Natural Gas (PNG) at the Bokaro facility. Kolkata-based BMW Industries is engaged in the downstream value addition manufacturing of steel coils, sheets, pipes and TMT rebars. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

BMW Industries net profit jumps 26% in Apr-Jun quarter to ₹19.04 cr