27 May 2016 | Today’s Latest and Top 10 Business News of India

​TEN NEWS NETWORK

India News (26/05/2026)

1. Byju’s Founder Byju Raveendran Sentenced to 6 Months Jail in Singapore
​In a major legal blow to the troubled edtech company, a Singapore court has ordered a six-month prison term for Byju Raveendran over contempt of court. Raveendran released a statement aggressively pushing back, stating he “cannot allow a false and one-sided narrative to go uncontested” and intends to fight the decision.

​2. HDFC Bank Shares Drop Over 2% Amid Marketing Spend Probe
​Shares of India’s largest private lender fell following reports alleging the bank “camouflaged” crores of rupees as marketing expenses to mask higher interest payouts intended to attract big deposits from a state firm. HDFC Bank has strongly rejected the governance and code of ethics violation claims.

​3. Stock Markets Slide for Second Day Amid West Asia Tensions Indian benchmark indices ended in the red for a second consecutive session. The BSE Sensex closed 142 points lower at 76,009, while the NSE Nifty 50 slipped to settle at 23,913. Selling pressure was heavily led by banking, financial, and oil & gas sectors, though midcap and smallcap indices showed relative resilience.

​4. Adani Power Overtakes Infosys in Market Capitalization ​Marking a massive structural shift on Dalal Street, Adani Power overtook IT giant Infosys in total market valuation. The rally comes on the back of a spectacular 65% year-to-date surge in Adani Power shares, driven by India’s soaring peak electricity demand.

​5. Government to Sell 2% Stake in Coal India The Government of India announced an Offer for Sale (OFS) to offload up to a 2% stake in state miner Coal India Limited. The sale will take place between May 27 and May 29, with the floor price locked in at ₹412 per equity share—a nearly 10% discount from its previous closing price.

​6. Indian Rupee Settles Near 95.68 Against the US Dollar The domestic currency hovered in a flat-to-volatile range, ending marginally up at 95.68 against the greenback. Higher global crude oil prices (sitting around $95–$98 per barrel due to brittle US-Iran geopolitical friction) continue to serve as a macro headwind for the rupee.

​7. Cabinet Approves ₹25,530 Crore Scheme for Ration System
​The Union Cabinet cleared a massive mega-budget scheme worth ₹25,530 crore aimed entirely at modernizing and strengthening India’s public ration distribution system. The targeted infrastructure and supply chain upgrades are slated to run through 2031.

​8. Ola Electric Secures Crucial Commercial Launch Approvals
​Electric vehicle maker Ola Electric crossed a critical regulatory milestone after securing official commercial approval for its latest upcoming line of e-scooters. The news comes as the company continues aggressively expanding its domestic EV market share.

​9. FMCG Major Marico Enters Shampoo Market via ‘Parachute’
​Marico announced its formal entry into the highly competitive hair cleansing segment. The homegrown consumer goods company is leveraging its legacy coconut hair oil brand by rolling out the new Parachute Advansed Protein Shampoo to challenge established rivals.

​10. Air India and IndiGo Trim Domestic Flights by Over 20%
​In a major operational consolidation move, both Air India and IndiGo pulled back over 100 daily flights each from their domestic networks. Air India is cutting its domestic operations by roughly 22% as airlines realign capacities and manage aircraft maintenance schedules