Stories from earlier this week and beyond.
Australian investor Macquarie, once criticized as “too aggressive” for winning NHAI’s first TOT highway bundle at a premium, appears to be gaining the upper hand. After about 18 months, analysts suggest the investor has outwitted rivals by securing NHAI’s strongest assets, with toll collections showing signs of accelerating.
India’s rupee could slide to fresh record lows, potentially crossing 100 per dollar, if tensions around the Iran war escalate. Analysts warn surging oil prices would deepen inflation pressures and widen the current-account deficit. While central bank steps may cushion the move, they’re seen as temporary—market pricing suggests the rupee has more downside ahead.
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Tata Steel is aligning its India decarbonisation plan with a “tap the scrap” strategy, leaning on steel recycling to move toward a circular economy. With India facing a deficit in ferrous scrap, the company’s high-stakes recycling business could reshape how steel is sourced and produced—while supporting its goal of greener operations by 2030.
India’s solar rise was meant to be a sunrise, but the pace of new manufacturing and capacity growth is colliding with softer demand and export headwinds. With factories expanding faster than markets can absorb output, unsold panels are reportedly accumulating in warehouses. The result raises tough questions: is India building lasting clean energy strength, or drifting into an overbuild bubble?
The RBI rejected banks’ proposal to stagger provisions for mark-to-market (MTM) losses in the March quarter. Banks argued that rising bond yields and a late $100 million cap on net open positions sharply hit treasury earnings, and they needed phased relief to manage the impact.
As the Trump administration and the SEC push to broaden access to markets, US investors could soon get more products tied to private credit and crypto. Some investment advisors say the move may increase complexity and shift the burden of risk management onto individuals, raising concerns about whether retail investors can adequately protect themselves as these assets go mainstream.
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Crypto markets moved in a mixed, range-bound pattern, with Bitcoin hovering near $92,800 and Ethereum holding above $3,200. While altcoins diverged, analysts pointed to resilience around key support levels as evidence of underlying strength. Direction may hinge on regulatory developments tied to the Digital Asset Market Clarity Act and fresh U.S. jobs data.
A sudden H-1B visa fee shake-up triggered panic among prospective workers, but a quick clarification exempted existing H-1B holders. With new talent costs rising, today’s workers may gain leverage in an employers market. While some IT firms say dependence on H-1B hiring is easing, experts caution offshore delivery models could still face turbulence.
Maharashtra’s cabinet has approved a financial restructuring plan for state-owned power distribution firm Mahavitaran that will split it into two entities. One entity is slated for listing on stock exchanges after an IPO is launched within six to nine months of completing the recast process, marking a major shift in the state’s power-sector strategy.
Tata Trusts says trustees will seek amendments to the Bai Hirabai Trust deed, where eligibility rules previously blocked non-Zoroastrians from serving as trustees. The review follows a complaint from a former trustee, with the trust evaluating restrictive clauses to better reflect inclusive values and update how trustee eligibility is determined.
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Metals are powering through 2025 as tightening supply meets steady industrial demand and a structurally weakening U.S. dollar. Gold, silver, and platinum are getting a boost as safe-haven favorites, while copper, zinc, and aluminium gain momentum from green economy growth. Shrinking inventories and a more dovish Fed keep the metals outlook bullish even as the dollar faces mounting pressures.
Indian indices closed higher as auto, pharma and metal stocks lifted sentiment. NMDC, Apollo Hospitals, Nykaa and BDL surged after earnings, while Suzlon, RVNL and Waaree Energies declined on weaker results and profit booking. The day’s sharp moves highlight how quickly investor expectations can flip between buyers and sellers.
A Sebi circular has put the future of zero-brokerage models in limbo, raising concerns about what retail investors will ultimately pay to trade. The uncertainty stems from regulatory clarifications that may tighten how zero-brokerage is structured, potentially shifting costs beyond commissions and affecting trading behavior for small investors.
CAFE III fuel-efficiency standards for auto makers are set to start April 1, 2027, with the government unlikely to extend the deadline. Automakers are already discussing the upcoming norms, and a high-level meeting on April 16 will aim to lock in the framework. The rules include flexible compliance and carbon credit trading, reshaping how companies meet targets.
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The US Department of Justice is easing federal rules on certain marijuana items by reclassifying the drug as less dangerous. The shift could reduce research hurdles and lessen tax burdens, while aligning federal policy more closely with scientific and medical understanding. Supporters say it may also improve access for patients nationwide, with major implications for the $47 billion cannabis industry.
Indian 10-year G Sec yields climbed to a near two-year high, ending FY25 at 7.03% even after a policy rate cut. Analysts point to bond oversupply and geopolitical risks tied to West Asia as key drivers. With conflict continuing and supply pressures building, yields could keep an upward bias through FY27, raising inflation concerns.
Trump’s administration has softened the blow from higher H1-B visa fees for India’s IT industry, reducing immediate fallout. Still, firms face a tougher challenge: clients are starting to lock spending budgets for next year amid unpredictable decision-making. The short-term shock may be over, but uncertainty is likely to linger in contracts, hiring plans, and project timelines.
Indian markets are attempting a rebound with investors increasingly confident that the worst of war-related uncertainty may be behind them. Edelweiss AMC expects a gradual normalization by April, but flags a key risk: if oil prices stay elevated, the recovery could face economic pressure. Meanwhile, midcaps and smallcaps are drawing fresh attention thanks to attractive valuations.
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Delhi-based inventor Rajiv Rai Sachdev says Procter & Gamble used his neem-based decoction and processing method in its Whisper Ultra Clean sanitary pads. The Himachal Pradesh High Court has quashed P&G’s plea to dismiss the complaint, keeping the intellectual property battle alive and potentially setting up a costly legal fight over scientific know-how and product claims.
India’s renewed nuclear power push is taking a sharper turn as marquee private players come aboard. Unlike earlier efforts that leaned heavily on state-led execution, the new phase is drawing big-ticket private capital. The shift could accelerate project timelines, alter financing structures, and reshape how nuclear capacity is planned and delivered in the years ahead.
For decades, GAIL built and ran India’s gas pipeline network, but a PNGRB expert committee now wants sweeping reforms. Among the most contentious ideas: pipeline operations should be independent from gas trading, to prevent conflicts of interest. GAIL is pushing back hard, and the ruling could reshape competition and influence how affordable clean energy becomes for millions.
The Indian rupee slid for a fourth straight day, settling at 94.11 per US dollar, as the RBI removed restrictions on foreign exchange trading. Traders also pointed to higher crude oil prices, with Brent futures crossing $100 a barrel, adding pressure on the currency. The move marks a fresh stretch of weakening amid global price shocks.
Tamil Nadu and West Bengal began phase one polling amid tight security as voters headed to booths for Assembly elections. In Tamil Nadu, voting runs in a single phase today, ending at 6:00 pm. West Bengal also votes today for Phase 1, with a second phase scheduled for April 29. Celebrities turned out as well, drawing attention across the states.
Companies are increasingly leaning on “net worth” to blur the impact of financial discrepancies that must be disclosed to investors. While firms argue it cushions negative readings, experts say the practice is misleading and investor-unfriendly. Regulators may need to step in, the warning goes, to prevent metric swapping from undermining transparent reporting.
RBI’s Monetary Policy Committee said a longer West Asia conflict could meaningfully affect India’s growth and inflation, even as the economy stays resilient. Instead of changing policy, it chose a wait-and-watch approach, citing heightened geopolitical uncertainty and a possible El Nino-driven inflation risk.
The Indian rupee hit a record low, falling past 95 per US dollar for a third straight session. Traders saw only temporary support after the RBI tightened banks’ forex position caps, but broader Asian currency weakness and risks tied to the Middle East conflict continued to pressure the currency. Analysts warn the relief may be short-lived.
Even as India’s restaurant sector stayed sluggish in Q1 FY25, McDonald’s India flipped the script. After three straight quarters of falling revenue and rising losses, the company reported growth in both revenue and profits, signaling a clear recovery despite tough overall market conditions.
Market veteran Pashupati Advani says India’s rally may be fragile, pointing to unresolved risks like disruptions around the Strait of Hormuz that could affect oil and LNG imports. He also flags a near-term LPG crunch and growing pressure on IT jobs, citing visa curbs, AI disruption, and stagnant hiring—calling it a potential earnings shock.
RBI’s latest banking reforms are designed to redraw India’s financial landscape. The package enables universal bank transitions, allows greater foreign investment, supports M&A financing, and gives banks more operational flexibility. Backed by a push for growth and global integration, the changes could speed up consolidation, broaden capabilities, and reshape how banks compete domestically and beyond.
UGRO Capital has stopped originating new loans in its low-yield, DSA-led book, marking a major shift toward profitability. The firm is cutting costs and exiting a model it says has offered thin margins, with an aim to lift yields and avoid future shareholder dilution. It plans to focus instead on MSME lending and merchant partnerships.
Ace investor Mukul Agarwal increased his exposure to True Colors, adding a 1.62% stake during the quarter ended March 31. The purchase involved nearly 4 lakh shares, even as the stock continues to trade about 10% below its IPO price. The move highlights investor appetite despite a softer market debut.
India’s seafood exports climbed 11.2% to $8.28 billion in 2025–26, helped by rising demand from China, the EU, and Southeast Asia. Frozen shrimp drove earnings, while a drop in US shipments was offset by gains in alternate markets. Export volumes reached 19.32 lakh tonnes, with major ports managing most shipments.
In an exclusive interview ahead of Wings India in Hyderabad, Boeing India and South Asia president Salil Gupte said the company expects more aircraft orders from India this year to boost sourcing. He also discussed SpiceJet and why Boeing is watching the Adani-Embraer joint venture, while downplaying the likelihood of any assembly tie-ups involving Boeing.
The Indian rupee jumped versus the US dollar with its biggest single-day gain in more than 12 years after the Reserve Bank of India extended curbs on offshore derivatives. The move targets forex speculation that had pressured the currency in recent weeks, and it also disrupted a major segment of market activity—raising questions on whether the rebound can hold.
A new study suggests India’s green transition could generate millions of jobs by 2047. The report highlights opportunities across renewable energy, waste management, electric vehicles, sustainable textiles, and eco-friendly construction—sectors expected to do the heavy lifting in new hiring as climate policies and consumer demand accelerate.
Snap is expanding layoffs amid an AI-driven push to boost speed and cut costs, affecting around 1,000 employees. The move signals a broader big-tech trend: companies are seeking fewer workers while relying on new automation to improve efficiency. As AI adoption accelerates across industries, the layoffs also highlight growing uncertainty about what future jobs will look like.
The rupee dipped as tensions between the US and Iran escalated, sending oil prices higher and weighing on Indian stocks and bonds. Regional markets also turned cautious with renewed fighting that threatens a fragile Middle East ceasefire. Higher energy costs alongside weak capital inflows are continuing to pressure the currency.
England and Real Madrid midfielder Jude Bellingham is stepping into cricket ownership. Reports say Warwickshire is set to confirm he has bought a minority stake in the Hundred franchise Birmingham Phoenix. The move links the high-profile football star to the fast-growing summer league, with local Hundred franchise ownership tied to Knighthead Capital and Birmingham City interests.
Markets saw sharp trading action as Trent tumbled over 8% after underwhelming Q3 updates, cooling sentiment. Groww swung from early gains on a bullish brokerage note to later reversal. Reliance Industries slid on reports tied to Russian oil shipments, though the company denied the linkage. IEX also featured among movers today.
The Academy of Motion Picture Arts and Sciences has set the calendar for the 99th and 100th Oscars, the final ceremonies before the move to YouTube. Variety reports the 99th Oscars will air on March 14, 2027, with the 100th following on March 5, 2028, alongside updated eligibility and nomination timelines.
Defence Minister Rajnath Singh has called on German firms to partner with India for co-development and co-production of modern defence systems. He pointed to India’s expanding market and skilled workforce, pitching the collaboration as a way to build resilient supply chains and enable long-term investment. The effort will target niche technologies and deeper strategic cooperation.
Akasa Air is reportedly prepping for an IPO, but analysts don’t expect it to reach EBITDA profitability soon. That puts pressure on founder Rakesh Jhunjhunwala’s “last big bet,” which plans to list in the coming years. The carrier will need substantial operational improvements to earn a valuation closer to IndiGo’s, rather than its current trajectory.
Om Power Transmission’s ₹150 crore IPO allotment has been finalized after a modest 3.33x subscription, with stronger HNI participation standing out. Share credits and refunds will be processed on April 16, ahead of an April 17 listing on both BSE and NSE. Investors can check allotment status via MUFG Intime India or the BSE website.
The Enforcement Directorate carried out raids at 12 locations tied to a ₹145 crore money laundering probe involving alleged embezzlement from the Municipal Corporation, Panchkula. The ED focused on properties linked to former municipal accounts officials and banking personnel, seizing documents and legal agreements that could support the case.
Finance Minister Nirmala Sitharaman and IT Minister Ashwini Vaishnaw met banks and IT officials to address looming AI-driven threats linked to Claude Mythos. The government is pushing a faster system for banks and agencies to share threat intelligence in real time, aiming to spot new dangers quickly and strengthen coordination for better vigilance.
As polling got underway across Tamil Nadu, reports emerged of voters stranded for over 12 hours at Chennai’s Kilambakkam bus terminal, with some also stuck at Koyambedu. Alleging a total lack of coordination and support from the administration, voters said they were unable to reach their polling booths despite travelling to the city specifically to vote.
Ahead of West Bengal’s phase 1 polling, appellate tribunals under the Calcutta High Court’s supervision have reinstated voting rights for 139 people who were earlier marked ineligible. The tribunals’ orders have sparked fresh efforts to help these voters cast ballots, even as legal challenges question parts of the tribunal process.
IndusInd Bank’s CEO Sumant Kathpalia has stepped down more than a month after the bank’s crisis unfolded. While the leadership change is clear, investors still don’t know how large the underlying financial hole is—or how much long-term damage it could trigger, raising comparisons to past bank stress cases.
India’s fiscal deficit for FY27 is likely to exceed the budgeted target, with BMI projecting it could reach about 4.5% of GDP. The pressure is linked to policy responses to the West Asia conflict, including support for firms, higher energy and fertilizer subsidies, and possible export curbs on critical inputs like helium and sulphur. Infrastructure spending may also be deferred to contain costs.
Kolkata Knight Riders finally cracked their IPL 2026 campaign, beating Rajasthan Royals by four wickets in a tight chase. RR managed 155 for nine, with key breakthroughs from Varun Chakaravarthy and Sunil Narine. In reply, Rinku Singh struck an unbeaten 53 and shared a decisive partnership with Anukul Roy, as KKR reached target with two balls to spare.
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