Business
Pakistan Stock Exchange Hits All-Time High as Shares Rally – SUCH TV
The Pakistan Stock Exchange (PSX) extended its record-breaking rally on Wednesday, surpassing the 166,000-mark as economic and geopolitical developments continued to boost investor confidence.
By 10 am, the PSX benchmark KSE-100 Index had risen by 917.99 points, or 0.55%, reaching an all-time high of 166,411.57 points.
A total of 338 companies were active in trading, with 252 posting gains, 127 recording losses, and 19 remaining unchanged.
Analysts said the sustained upward trend reflects the trade and business community’s growing confidence in the government’s economic policies.
As the government enters a critical phase of negotiations with the IMF, market participants are optimistic that any progress on the review will further strengthen investor confidence.
However, concerns remain over the ongoing review and its potential impact on Pakistan’s fiscal stability, with some analysts warning that meeting the IMF’s targets will be a challenging task.
On Tuesday, the PSX had surged 1,645.90 points, marking a 1% gain and closing at 165,493.59 points.
Trading activity also increased, with 1,349,798,022 shares exchanged on Wednesday compared to 1,285,638,674 shares the previous day, while the total share value stood at Rs 76.77 billion, up from Rs 65.76 billion.
As many as 488 companies transacted their shares in the stock market, out of which 176 recorded gains, 288 sustained losses, whereas 24 remained unchanged.
The three top-trading companies were WorldCall Telecom with 113,573,124 shares at Rs 1.74 per share, Pak Elektron with 110,391,976 shares at Rs 56.68 per share, and Bank of Punjab with 94,026,621 shares at Rs 27.15 per share.
PIA Holding Company LimitedB witnessed a maximum increase of Rs 700.36 per share, closing at Rs 25,984.99, followed by Unilever Pakistan Foods Limited which rose by Rs 319.69 to close at Rs 30,820.00.
On the other hand, Rafhan Maize Products Company Limited recorded a maximum decrease of Rs 515.46 per share to close at Rs 10,283.67, followed by Pakistan Engineering Company Limited which declined by Rs 55.84 to close at Rs 524.52.
Business
Cloud infra deal: Microsoft partners with Anthropic and Nvidia; $45 billion cloud deal to reshape AI infrastructure – The Times of India
Microsoft on Tuesday announced a sweeping cloud infrastructure partnership with artificial intelligence firm Anthropic and chipmaker Nvidia, marking a significant realignment in the technology giant’s AI alliances as it moves further away from exclusive dependence on OpenAI, AP reported.Anthropic, the developer of rival chatbot Claude, said it will commit to purchasing $30 billion worth of computing capacity from Microsoft’s Azure cloud platform under the new agreement. As part of the same partnership, Nvidia will invest up to $10 billion in Anthropic, while Microsoft will invest up to $5 billion in the San Francisco-based company.The joint announcement from Anthropic CEO Dario Amodei, Microsoft CEO Satya Nadella and Nvidia CEO Jensen Huang was made just before the opening of Microsoft’s annual Ignite developer conference.Microsoft had long served as OpenAI’s exclusive cloud provider, but that arrangement began to shift earlier this year. While the two companies continue to collaborate, OpenAI has expanded its cloud strategy by striking major deals with Oracle, SoftBank and other chipmakers and data-centre operators to secure additional computing capacity.The latest move strengthens Microsoft’s position in the rapidly intensifying AI infrastructure race and gives Anthropic access to one of the world’s largest cloud ecosystems as competition with OpenAI accelerates.
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Bolstered by the popularity of Premanand Maharaj and the Banke Bihari Temple Corridor, Varanasi’s land prices have gone from Rs 20,000 per 900 sq ft to Rs 1 crore in just 4 years
Ayodhya land prices increased 50-100% due to Ram Temple construction.
In a striking shift from the traditional focus on metro and tier-1 cities, the real estate landscape is witnessing a new trend as pilgrimage and religious cities are becoming prime destinations for homebuyers and investors. Cities such as Ayodhya, Varanasi, Prayagraj, Vrindavan, and Haridwar are seeing a surge in property demand, with some areas experiencing price jumps of up to 500%.
Experts attribute this boom to a combination of religious tourism, major infrastructure projects, and increased economic activity in these cities. “The construction of the Ram Temple in Ayodhya, the Kashi Corridor in Varanasi, and major festivals like the Maha Kumbh have attracted a growing number of devotees,” said a property analyst. He said that the rise in footfall is directly influencing real estate, with demand for second homes, retirement properties, and serviced apartments at an all-time high.
Vrindavan: Prices Jump 500%
Vrindavan has emerged as one of the most expensive religious real estate markets in the country. The city’s growing prominence, bolstered by the popularity of Saint Premanand Maharaj and the Banke Bihari Temple Corridor, has seen land prices escalate from Rs 20,000 per 100 square yards to over Rs 1 crore in just four years in approved residential projects like Rukmini Vihar. Developers such as Omaxe, Basera, and Amaiya are actively launching high-rise residential and commercial projects, including Omaxe Krishna Crest, Omaxe Eternity, and Omaxe Bettgather Courtyard Mall, catering to the surge in demand.
Ayodhya: Land Prices Soar 50-100%
Ayodhya has witnessed a dramatic rise in property rates since the construction of the Ram Temple started. Land surrounding the temple has seen prices climb by 50-100%, prompting developers to plan theme-based townships and modern residential projects. Local developer Ayodhya Home & Soul Developers is reportedly preparing to launch a significant residential project in the city. Improved infrastructure and government-backed initiatives are further enhancing returns, making Ayodhya a hotspot for investors and homebuyers alike.
Prayagraj: From Industrial Hub to Real Estate Attraction
The Naini area in Prayagraj is rapidly transforming, driven by its emergence as both an industrial and educational hub. Developers, including Omaxe, are establishing large residential projects such as Omaxe Sangam City and Omaxe Ananda, shifting the market from traditional low-rise housing to high-rise developments.
Dehradun: Penthouses and Luxury Apartments in Demand
In Dehradun, Sahastradhara Road and Rajpur Road, along with areas near Tapkeshwar Mahadev and Drone Cave Temples, are witnessing growing real estate interest. Projects like Sikka Kimaya Greens and Excentia Tatva are introducing luxury apartments, high-rises, and penthouses, merging modern amenities with serene surroundings. Excentia Tatva, in particular, is being promoted as the city’s first uber-luxury residential experience.
Varanasi: A Rising Hub for Real Estate Investment
Varanasi continues to attract Shiva devotees and investors alike, with both residential and commercial properties seeing heightened interest. Improved connectivity and growing religious tourism are factors driving the city’s rising property prices.
Why Religious Cities Are Gaining Momentum
Several factors underpin this new trend:
- Religious tourism is seeing record growth, drawing lakhs of devotees annually.
- Enhanced highway, rail, and air connectivity makes these cities more accessible.
- Rising demand for retirement homes and second residences is fueling development.
- Branded developers from Delhi-NCR and other major cities are entering these markets.
- Government support and infrastructure projects are boosting investor confidence.
As spiritual hubs evolve into real estate hotspots, these cities are no longer just centres of faith, they are emerging as strong, high-return investment destinations.
November 18, 2025, 20:04 IST
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New Delhi: The Income Tax Department will notify new income‑tax return (ITR) forms and related rules under the streamlined Income Tax Act, 2025, by January, and the updated regulations be effective from April 1, 2026. The updated regulations will mark the transition from the nearly six-decade old Income Tax Act of 1961, multiple reports cited Central Board of Direct Taxes chairman Ravi Agrawal as saying.
Agrawal said the department is designing the new forms keeping it simple and easy to comply and adapt to. “We are in the process of designing the new forms and rules, and our aim is to notify them by January so that taxpayers have adequate time to adjust their systems and processes,” he was quoted as saying at the inauguration of Taxpayers’ Lounge at the India International Trade Fair (IITF) here.
Analysts said that the current framework of the rules is largely drafted in traditional legal language making it hard to understand and interpret. They said new rules should use simplified language, include illustrations for valuation rules, and align form structure with revamped TDS provisions under the new Income-tax Act 2025.
The Taxpayers’ Lounge offer a wide range of assistance and interactive resources that help with PAN/e‑PAN applications, Aadhaar–PAN linking and resolving PAN-related queries. Further, it will offer support for e‑filing, Form 26AS queries, TDS issues, guidance on international taxation, faceless assessment and appeals, and and other online filing issues.
Agrawal added that the Income Tax Department will release outstanding tax refunds by December. “We have analysed and found that some wrong refunds or deductions were being claimed so there is scrutiny, but we hope to release the remaining refunds by this month or December,” he added.
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