Business

Oil Prices Fall Over 3% as US Signals Possible Easing of Iranian Crude Sanctions Mumbai, March 20: Global crude oil prices declined sharply on Friday after the United States indicated a potential easing of sanctions on Iranian oil, raising expectations of increased supply in the global market.Brent crude futures dropped as much as 3.39 percent to touch an intraday low of $104.96 per barrel. Similarly, US West Texas Intermediate crude fell 3.22 percent to a day-low of $92.47 per barrel.US संकेत on Iranian Oil Supply Weighs on Crude Markets The decline followed remarks by US Treasury Secretary Scott Besant, who suggested that Washington may relax restrictions on Iranian crude already in transit. The move is aimed at stabilizing global...

Sensex and Nifty Rebound Sharply in Early Trade as Crude Oil Prices Ease Mumbai, March 20: Domestic benchmark indices staged a strong recovery in early trading on Friday, bouncing back after a steep decline in the previous session. The rebound was supported by a decline in global crude oil prices, which improved overall market sentiment.The BSE Sensex surged 976.77 points to reach 75,184.01, while the NSE Nifty jumped 301.7 points to 23,303.85 during early trade.Banking and Metal Stocks Lead Gains Among the 30-share Sensex pack, major gainers included Tata Steel, State Bank of India, Tech Mahindra, Larsen & Toubro, Power Grid, and NTPC, driving the market higher.HDFC Bank emerged as the only laggard in early trading.Crude Oil...

Stock Market Today: Sensex and Nifty Surge Over 1% in Early Trade Amid Global Relief Signals Mumbai, March 20: Domestic benchmark indices opened on a strong note on Friday, with both the Sensex and Nifty rising over 1 per cent in early trading, supported by optimism around easing geopolitical tensions in West Asia.The BSE Sensex opened at 74,559, gaining 352 points or 0.47 per cent, while the NSE Nifty began the session at 23,110, up 108 points or 0.47 per cent, as per exchange data.Strong Early Momentum Across Benchmarks In the initial hours of trade, the rally gathered pace, with the Sensex jumping as much as 891 points or 1.20 per cent, while the Nifty climbed 279.7 points or 1.21 per cent to 23,281.85. The upward movement was...

Indian Rupee Falls to Record Low of 92.94 Against US Dollar Amid Rising Oil Prices and FII Outflows New Delhi, March 20: The Indian rupee weakened further on Thursday, slipping to a fresh all-time low of 92.94 against the US dollar, as elevated crude oil prices and sustained foreign fund outflows weighed heavily on the domestic currency.The rupee depreciated by 30 paise during the session, extending its recent losses amid growing uncertainty linked to the ongoing West Asia crisis and rising demand for the US dollar.Persistent FII Selling Adds Pressure on Rupee Foreign institutional investors have remained consistent sellers in the Indian equity markets, offloading nearly ₹74,000 crore over the past 12 trading sessions. The continued...

US Backs Essar Group’s Mesabi Metallics Project with Up to $10 Billion Financing Support Washington, March 20: The United States has announced financial support of up to $10 billion for Mesabi Metallics, an Essar Group company, for a major mining and manufacturing project in Minnesota, reinforcing efforts to strengthen critical minerals supply chains.The announcement was made by the US Export-Import Bank (EXIM) during the Indo-Pacific Energy Security Ministerial and Business Forum held in Tokyo last week.EXIM Pushes Strategic Supply Chain Investments EXIM stated that its financing initiatives are helping unlock nearly $30 billion in strategic deals aimed at enhancing America’s supply chain resilience in coordination with...

South Korea Forms Task Force to Counter US Trade Probes on Excess Capacity and Forced Labor Seoul, March 20: South Korea’s Ministry of Trade, Industry and Resources on Friday announced the formation of a joint task force with private sector stakeholders to coordinate a response to ongoing trade investigations initiated by the United States.US Launches Section 301 Investigations into Multiple Economies Earlier this month, the Office of the United States Trade Representative (USTR) launched a series of trade inquiries targeting South Korea and other major economies. The investigations focus on what the US describes as unfair trade practices linked to structural excess capacity, production imbalances, and allegations of forced labor...

South Korean Stock Market Today: KOSPI Trims Gains as Tech Stocks Weigh Under Foreign Selling Seoul, March 20: South Korean equities pared early gains on Friday morning, with the benchmark KOSPI index turning volatile as heavyweight technology stocks came under pressure due to sustained foreign selling.The Korea Composite Stock Price Index (KOSPI) was up 26.43 points, or 0.46 percent, at 5,789.65 as of 11:20 a.m., after surrendering part of its earlier advance, according to Yonhap news agency.Foreign Outflows Drag Market Momentum Market direction shifted as foreign investors offloaded shares worth 1.26 trillion won (approximately $842 million). However, the selling pressure was partially offset by domestic participation. Retail...

New Delhi, March 19 ICICI Bank said on Thursday that tax authorities have issued a demand notice of ₹768.6 crore against it for alleged short payment of GST.On March 18, 2026, ICICI Bank received an order under Section 74 of the Maharashtra Goods and Services Tax Act, 2017, from the Additional Commissioner of CGST and Central Excise, Mumbai East Commissionerate, demanding a Goods and Services Tax (GST) of ₹384,33,53,972 and an equivalent amount of penalty and interest for services provided by the bank to customers maintaining specified minimum balances in their accounts, the bank said in a regulatory filing."While the bank is currently involved in litigation (including a writ petition) on a similar issue raised in past orders/Show...

HDFC Bank Chairman Atanu Chakraborty Resigns Citing "Values and Ethics" Differences New Delhi/Mumbai, March 19 – HDFC Bank’s non-executive chairman Atanu Chakraborty has resigned abruptly, citing differences over "values and ethics," a rationale the bank described as baffling due to the absence of specific instances, despite repeated requests for clarification.Keki Mistry, a seasoned leader within the HDFC Bank Group, has been appointed as interim chairman following Chakraborty’s departure. Mistry noted that while there may have been "relationship issues" between Chakraborty and the executive leadership, no substantive concerns were found behind the resignation. He emphasised that the bank’s governance and operations remain stable...

Gold and Silver Plunge Amid Geopolitical Tensions, Hitting Multi-Week Lows Mumbai, March 19 – Precious metals witnessed a steep decline on Thursday, with both gold and silver falling to multi-week lows despite ongoing geopolitical tensions in the Middle East. Strong selling pressure dominated trading sessions, driving prices sharply lower.According to the India Bullion and Jewellers Association (IBJA), 24-carat gold (999 purity) dropped to ₹1,47,889 per 10 grams, down ₹6,990 from the previous session's ₹1,54,879. Silver also saw a significant correction, with 999 purity silver falling to ₹2,29,873 per kilogram from ₹2,49,907 per kilogram, a drop of ₹20,034 per kg.Over the past week, gold has lost more than ₹12,000, while silver has...

Himachal Pradesh Assembly Approves Rs 40,461.95 Crore Supplementary Budget for 2025-26 Shimla, March 19 – The Himachal Pradesh Legislative Assembly on Thursday approved a supplementary budget of Rs 40,461.95 crore for the financial year 2025-26. Chief Minister Sukhvinder Singh Sukhu presented the supplementary demands in the Assembly, and the proposal was passed through a voice vote.Allocation Under State Schemes Of the total supplementary outlay, Rs 36,374.61 crore has been earmarked for state schemes. Key allocations include:Rs 26,194.95 crore for 'Ways and Means' and overdrafts Rs 4,150.14 crore for power generation and conversion of loans provided to the Electricity Board under the UDAY scheme into equity Rs 818.20 crore for...

Rajputana Stainless Shares Drop Over 7% on Debut Trading New Delhi, March 19 – Shares of Rajputana Stainless Ltd, a manufacturer of long and flat stainless-steel products, fell sharply on Thursday, closing more than 7 per cent below their issue price on their debut trading day.The stock ended at Rs 112.90 on the BSE, down 7.45 per cent from the issue price of Rs 122. It initially opened at Rs 123.95, showing a modest gain of 1.59 per cent, but could not sustain the early momentum.At the NSE, Rajputana Stainless was listed at par with the issue price of Rs 122 and later closed at Rs 113.03, down 7.35 per cent. Following the listing, the company’s market capitalization stood at Rs 943.48 crore.The company’s initial public offer...

India Aims to Boost Sports Equipment Exports to USD 8.1 Billion by 2036, Create 5.4 Million Jobs New Delhi, March 19 – India has the potential to significantly expand its sports equipment exports to USD 8.1 billion and generate around 5.4 million additional jobs by 2036, according to a report released by Niti Aayog on Thursday.The report highlights the opportunity to increase India’s share in global sports goods exports from USD 2 billion to USD 24 billion and equipment exports from USD 275 million (0.5 per cent of global market) to USD 8.1 billion (11 per cent) over the next decade.Titled "Realizing the Export Potential of India's Sports Equipment Manufacturing," the study underscores that India is at a critical juncture, driven by...

BHEL to Invest ₹3,064 Crore in Coal-to-Chemicals Joint Venture, Expands Rail Maintenance Operations New Delhi, March 19 – Engineering major Bharat Heavy Electricals Limited (BHEL) announced on Thursday plans to invest up to ₹3,064.46 crore as equity in Bharat Coal Gasification and Chemicals Ltd. (BCGCL), a joint venture with Coal India Limited, according to an official exchange filing.BHEL’s equity infusion will be implemented over a four-year period, with BHEL holding a 49 per cent stake and Coal India 51 per cent. The joint venture aims to establish a coal-to-ammonium nitrate plant with a production capacity of 2,000 tonnes per day, marking a strategic entry into the chemicals sector.The filing also highlighted that BHEL’s board...

India’s InvITs Expected to Add ₹1 Lakh Crore in Assets in FY26 New Delhi, March 19 – India’s Infrastructure Investment Trusts (InvITs) are projected to see their assets under management (AUM) expand by approximately ₹1 lakh crore in FY26, according to a report released by CareEdge Ratings on Thursday.The report highlighted that the AUM of InvITs has doubled over the past three years, rising from about ₹3 lakh crore in FY22 to nearly ₹6.25 lakh crore by FY25. The combined leverage, measured as total external debt to enterprise value, is expected to remain stable at around 49 per cent in FY26, supported by higher valuations from equity raising and lower interest rates.The number of InvITs has grown from 11 in FY22 to 22 in FY25, with...

India’s Bioeconomy Surges to $195 Billion, Aiming for $300 Billion by 2030 New Delhi, March 19 – India’s bioeconomy has witnessed remarkable growth, expanding to over $195 billion by 2025 from approximately $10 billion in 2014, Union Minister Dr Jitendra Singh stated on Thursday.Speaking at the 14th Foundation Day of the Biotechnology Industry Research Assistance Council (BIRAC), Dr Singh highlighted that the sector has recorded an annual growth rate of around 17-18 per cent in the past year alone.Biotechnology: A Key Pillar of India’s Growth Dr Singh noted that biotechnology is increasingly shaping India’s growth story, driving advancements in healthcare, agriculture, climate solutions, and sustainable manufacturing. He said the...

Silver and Gold Prices Plunge Amid Global Commodity Sell-Off New Delhi, March 19 – Precious metal markets witnessed a sharp decline on Thursday, with silver falling by Rs 17,800 to Rs 2.38 lakh per kilogram and gold dropping by Rs 7,000 to Rs 1.53 lakh per 10 grams in the national capital. The fall comes amid heavy selling in global commodity markets.According to the All India Sarafa Association, silver slumped nearly 7 per cent to Rs 2,38,700 per kg (inclusive of all taxes) from Wednesday’s closing of Rs 2,56,500 per kg. This marks a steep decline of Rs 1,65,800 per kg, or 41 per cent, from its lifetime high of Rs 4,04,500 per kg recorded on January 29.Gold of 99.9 per cent purity also dropped by Rs 7,000, or 4.37 per cent, to Rs...

Stock Market Crash Wipes Out ₹12.87 Lakh Crore in a Day as Sensex Plunges Over 3% Investor Wealth Erosion Deepens Amid West Asia Tensions New Delhi, March 19: Equity investors saw their wealth shrink by ₹12.87 lakh crore on Thursday as Indian stock markets witnessed a sharp sell-off, triggered by a surge in crude oil prices following escalating attacks on energy infrastructure in West Asia.The ongoing geopolitical crisis has significantly impacted market sentiment, with total investor losses exceeding ₹37 lakh crore since tensions intensified on February 28.Sensex Records Sharpest Fall Since June 2024 The benchmark 30-share BSE Sensex plunged 2,496.89 points or 3.26% to close at 74,207.24, marking its steepest single-day decline...

WHO Prepares for Potential Nuclear Incident Amid Escalating US Israel Iran Conflict Health Agency Reviews Radiation and Emergency Protocols as Regional Tensions Rise New Delhi, March 19: The World Health Organization is preparing for the possibility of a nuclear incident in the Middle East as the ongoing conflict involving the United States, Israel, and Iran intensifies, a senior official has said.Hanan Balkhy, WHO Regional Director for the Eastern Mediterranean, stated that the organization is actively reviewing emergency response protocols, including measures to handle radiation exposure, mass casualties, and long term environmental damage.Nuclear Incident Seen as Worst Case Scenario According to a report by Politico, Balkhy...

LPG Refill Bookings Near Pre-War Levels, Supply Concerns Persist Amid West Asia Disruptions New Delhi, March 19: Domestic LPG refill bookings in India are gradually returning to normal levels following a surge triggered by geopolitical tensions in West Asia. However, supply constraints continue to affect commercial consumers such as hotels, even as the government prioritises household demand.Bookings Stabilise After Panic Spike Before the February 28 military strikes by the US and Israel on Iran, over 33 crore domestic LPG consumers were booking an average of around 55 lakh cylinders daily. The escalation and subsequent retaliation by Iran led to the shutdown of the Strait of Hormuz, a key energy transit route used by major Gulf...