Financial Summary: Saturday, August 29, 2026

IRGC seizes Hormuz control as Trump clinches 65B-barrel Venezuela deal

Iran's IRGC navy has seized control of the Strait of Hormuz, a critical oil chokepoint, as President Trump announced a deal granting the US majority control of 65 billion barrels of Venezuelan oil reserves. The simultaneous developments signal heightened global energy tensions and potential impacts on supply and prices.

Nepal flood toll hits 616; minister denies refusing aid

Nepal's floods have claimed at least 616 lives and are estimated to cost $4 billion in reconstruction.

Nepal floods kill dozens, India rescues 88 citizens

Dozens killed and 287 missing as Nepal floods devastate the country; India rescues 88 citizens. The finance minister has requested $4-5 billion for reconstruction.

Indian bank stocks show widest NSE-BSE price gaps

Indian bank stocks are experiencing the widest price gaps between NSE and BSE in decades, attributed to a new auction system lacking certain safeguards.

Gold Prices Drop Across Indian Cities; 22K, 24K Rates Fall

Gold prices have fallen across major Indian cities, with both 22K and 24K rates decreasing by ₹145 to ₹153 per gram compared to the previous day.

MCX turnover hits record ₹62.93 lakh crore on gold surge

MCX recorded an all-time high daily turnover of ₹62.93 lakh crore on Friday, driven by a surge in gold trading activity.

Three lenders to challenge NCLT nod for Chandra's ₹6.25-cr plan

Union Bank of India, Canara Bank, and LIC Housing Finance are moving to challenge the NCLT's approval of Subhash Chandra's ₹6.25-crore repayment plan, escalating the legal dispute over the Zee Group founder's debt settlement. The lenders' appeal comes as Reliance Group separately rejects Chandra's allegations against its media entities, adding another layer of conflict. The NCLT's initial approval now faces a likely appellate review that could delay or overturn the repayment arrangement.

Ashoka Buildcon wins Rs 602-cr RVNL tunnel order

Ashoka Buildcon has secured a Rs 602 crore order from RVNL for a rail tunnel project in Uttarakhand, as confirmed by multiple reports. The contract adds to the company's order book and strengthens its position in infrastructure development. The stock may see positive movement following the announcement.

Transformers and Rectifiers wins ₹500 crore MEIL order

Transformers and Rectifiers (India) has secured a ₹500 crore order from Megha Engineering & Infrastructures, announced on August 29, 2026.

IGL hikes Delhi CNG price by Rs 3.89/kg to Rs 86.98

Indraprastha Gas Ltd (IGL) increased the price of compressed natural gas (CNG) in Delhi by Rs 3.89 per kilogram to Rs 86.98 per kg, citing a doubling of international LNG prices.

Finance Ministry Launches Budget 2027-28 Exercise, Issues Circular

The Finance Ministry has initiated preparations for the 2027-28 Union Budget with a pre-budget meeting schedule from October 12. The budget is likely to be presented on February 1, 2027.

GST Council Sets September 12 for 57th Meeting in New Delhi

The GST Council is convening its 57th meeting on September 12 in New Delhi to address tax rate rationalization and compliance simplification.