Business

Benchmark Indices End Nearly 1% Higher Mumbai, March 18: Benchmark equity indices Sensex and Nifty closed nearly 1 percent higher on Wednesday, marking their third consecutive day of gains, supported by easing crude oil prices and firm global market trends.The 30-share BSE Sensex surged 633.29 points or 0.83 percent to settle at 76,704.13. During intraday trade, the index climbed as much as 929.38 points or 1.22 percent to touch 77,000.22.The NSE Nifty advanced 196.65 points or 0.83 percent to close at 23,777.80.IT, Realty and Auto Stocks Lead Market Gains Among Sensex constituents, major gainers included Eternal, Tech Mahindra, Infosys, Mahindra and Mahindra, HCL Tech, Adani Ports, Tata Consultancy Services and Axis Bank.On the...

Cabinet Approves ₹2,584.60 Crore Small Hydro Power Scheme to Boost Clean Energy and Rural Employment Focus on Small Hydropower Projects Across States New Delhi, March 18: The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved the Small Hydro Power Development Scheme with a total outlay of ₹2,584.60 crore. The scheme will be implemented from FY 2026-27 to FY 2030-31, targeting the development of small hydropower projects with capacities ranging from 1 MW to 25 MW.The initiative is aimed at accelerating clean energy generation while tapping into the untapped hydropower potential, particularly in hilly and northeastern states.Financial Assistance Structure for SHP Projects Under the scheme, differentiated...

Gold Prices Slip on MCX Amid Fed Policy Uncertainty and Global Volatility Gold Futures Decline Ahead of US Federal Reserve Decision New Delhi, March 18: Gold prices declined by Rs 256 to Rs 1.55 lakh per 10 grams in futures trading on Wednesday, reflecting continued volatility as investors stayed cautious ahead of the US Federal Reserve's monetary policy decision.On the Multi Commodity Exchange (MCX), gold contracts for April delivery fell by Rs 256, or 0.16 percent, to Rs 1,55,729 per 10 grams. The decline was recorded in a total business turnover of 7,734 lots.Inflation Concerns and Oil Price Fluctuations Weigh on Gold Gold prices remained under pressure as market participants evaluated the impact of fluctuating oil prices on...

Vedanta Recycles 15 Million Tonnes of Waste in FY25, Maintains 100% Fly Ash Utilisation Strong Progress in Circular Economy and Waste Management New Delhi, March 18: Vedanta Ltd on Wednesday announced that it recycled or reused nearly 15 million tonnes of waste during FY25, marking a significant step in its sustainability efforts.The company also maintained 100 per cent utilisation of fly ash since FY21, demonstrating consistent performance in managing one of the highest-volume industrial byproducts across its operations.Focus on Sustainable Development Goals According to a company statement released on the occasion of Global Recycling Day, this achievement highlights Vedanta’s ongoing commitment to sustainable development and...

US Acknowledges Role in China’s Rare Earth Dominance, Flags Strategic Vulnerability Washington Reflects on Past Decisions Amid Rising Supply Chain Concerns New Delhi, March 18: The United States has identified China’s dominance in rare earth minerals as a significant strategic challenge, even as senior officials acknowledge that past American decisions contributed to Beijing’s current position in the sector.Rare earth minerals are critical components in the production of electronic goods, defense systems, and electric vehicles, making their supply chain a matter of national importance.Technology Transfer and Environmental Trade-offs According to a report by Defense One, the US had earlier transferred key technologies related to rare...

SEBI Penalises 18 Entities, Imposes ₹2.8 Crore Fine in Retro Green Revolution Stock Manipulation Case Market Regulator Bars Entities for Up to Five Years, Orders Disgorgement of Unlawful Gains New Delhi, March 18: The Securities and Exchange Board of India (SEBI) has imposed penalties totalling ₹2.8 crore on 18 entities and barred them from accessing the securities markets for up to five years for their involvement in manipulating the share price of Retro Green Revolution Ltd (RGRL).In addition to the monetary penalty, SEBI has directed 15 of these entities to disgorge unlawful gains amounting to ₹2.94 crore. The amount will carry an interest of 12 percent per annum from December 31, 2021, until the date of payment. The regulator has...

Commodity Fund Inflows Plunge in February Despite Strong Returns; Equity Flows Stay Resilient Commodity Flows Drop Sharply as Gold Rally Loses Momentum Commodity fund inflows witnessed a steep decline of ₹45,708 crore in February 2026, even as the asset class delivered a strong annual return of 80.3 percent, according to a report released on Wednesday.The report highlighted that the sharp correction in flows was largely driven by cooling interest in gold after a surge in January. Commodity inflows fell drastically from ₹51,483 crore in January to ₹5,774 crore in February, marking a decline of nearly 89 percent.Overall Fund Flows Nearly Halve Month-on-Month Total net asset-level inflows across categories dropped significantly...

Funding Round Details and Investors Burger Singh has secured ₹82 crore in a Series B funding round led by venture capital firm Artal Asia Pte Ltd, taking the company’s valuation to ₹520 crore.The round also attracted participation from both new and existing investors, including Negen Undiscovered Value Fund and Aurum Rising India Fund, according to a company statement.Expansion Strategy Focused on Franchise Growth The company said the newly raised capital will be deployed to strengthen its operational backbone and scale its franchise-driven business model.Burger Singh plans to invest in improving systems, processes, and infrastructure to support what it describes as a franchise-first restaurant growth platform in India.The...

Powerica IPO to Open on March 24; Company Targets Debt Reduction with ₹1,100 Crore Issue Price Band Set at ₹375 to ₹395 Per Share New Delhi, March 18: Power solutions provider Powerica Ltd has announced that its initial public offering (IPO) will open for subscription on March 24, with a primary focus on reducing its debt burden.The company has fixed the price band at ₹375 to ₹395 per share, placing its overall valuation at nearly ₹5,000 crore.Issue Structure Revised; OFS Size Reduced According to the red herring prospectus, the IPO consists of a fresh issue of shares worth ₹700 crore and an offer for sale (OFS) of ₹300 crore by existing promoters.The OFS component has been reduced from ₹700 crore, bringing down the total IPO size...

India’s Electronics Exports Surge 32% in FY25 to $38.58 Billion, Driven by Smartphone Boom Telecom Equipment Leads Export Growth as India Expands Global Footprint New Delhi, March 17: India’s electronics hardware exports recorded a sharp rise in FY25, increasing by 32.47 per cent year-on-year to reach $38.58 billion, according to a report released by the Electronics and Computer Software Export Promotion Council (ESC).The latest figures mark a significant jump from $29.12 billion in FY24, reflecting strong momentum in the country’s electronics manufacturing and export ecosystem.Smartphones Dominate Export Basket Telecom equipment, particularly smartphones, emerged as the primary growth driver during the fiscal year.Smartphone...

Meta Challenges CCPA Penalty in Delhi High Court Over Walkie-Talkie Listings on Facebook Marketplace New Delhi, March 18: Meta Platforms Inc. has approached the Delhi High Court challenging a ₹10 lakh penalty imposed by the Central Consumer Protection Authority (CCPA) over the alleged unauthorized listing and sale of walkie-talkies on Facebook Marketplace.Meta Argues It Is Not an E-Commerce Platform Appearing for Meta, senior advocate Mukul Rohatgi argued that Facebook does not function as an e-commerce platform like Amazon or Flipkart but merely acts as a “notice board” for users. He stated that Facebook neither facilitates transactions nor charges commissions.According to the submission, users independently connect with each other...

Andhra Pradesh Secures 385 Acres for Mulapeta Port Development, Naidu Thanks PM Modi Land Transfer to Boost Mulapeta Port Infrastructure Amaravati, March 18: Andhra Pradesh Chief Minister N Chandrababu Naidu has expressed gratitude to Prime Minister Narendra Modi following the approval for the transfer of nearly 400 acres of salt land at the Naupada Salt Factory to the Andhra Pradesh Maritime Board (APMB) for the development of the Mulapeta Port.The Ministry of Commerce and Industry has cleared the transfer of 385.24 acres, marking a key step in strengthening the state’s port infrastructure. Naidu highlighted the significance of the move, stating that it would accelerate the development of Mulapeta Port and enhance connectivity for...

India Office Market Growth 2026: Integrated Tech Parks to Drive Majority of Supply New Delhi, March 18: Integrated technology parks are set to dominate India’s office real estate landscape, with nearly 65 to 68 per cent of the projected office supply in 2026-27 expected to come from these developments, according to a report released on Wednesday.This marks a significant rise from the 54 to 58 per cent share recorded in 2024-25, reflecting a clear shift in developer strategy toward large, integrated office ecosystems. The report also highlighted that India’s total office stock is likely to cross the 1 billion square feet milestone in 2026.2025 Emerges as Record Year for Office Leasing and Supply The report identified 2025 as the...

India Hiring Trends 2026: Surge in ‘Immediate Joiner’ Demand Widens Talent Gap Bengaluru, March 18: India’s job market is witnessing a sharp shift toward rapid hiring, with nearly one in three job postings now emphasizing urgency through phrases like “Immediate Joiner” or “Short Notice.” This trend reflects employers’ increasing focus on candidates who can onboard quickly and start delivering results with minimal ramp-up time.Employer Hiring Urgency Outpaces Talent Availability According to the latest foundit Insights Tracker, the Employer Hiring Urgency Index has climbed to 158 in 2026 from 100 in 2022, indicating a significant rise in demand for quick hires. However, the Immediate Joiner Availability Index stands at just 112...

Mumbai, March 18: Amara Raja Group’s specialized engineering and R&D arm, Amara Raja Design Alpha (ARDA), has announced its entry into the mission-critical defense electronics segment with the development of an indigenous Power Conditioning Cabinet (PCC) for naval sonar systems.Indigenous PCC to Strengthen Naval Sonar Capabilities The company stated that the newly developed PCC is designed to support naval sonar operations by delivering stable and high-reliability power distribution. The system can handle loads of up to 160 kW, ensuring consistent power quality required for acoustic detection equipment during prolonged maritime missions.ARDA highlighted that approximately 61 percent of the system’s components are indigenous...

Tim Cook Rejects Resignation Rumours, Reaffirms Commitment as Apple Nears 50-Year Milestone Apple CEO Dismisses Exit Speculation New Delhi, March 18 – Apple CEO Tim Cook has firmly denied speculation about stepping down, describing such reports as “rumours” and reiterating his commitment to the company.In an interview with ABC News, Cook clarified that he has no intention of slowing down or leaving his position.“No, I did not say that. I have not said that. That is a rumour going around,” he said when asked about reports suggesting a possible exit.Longstanding Association With Apple Cook, who has spent nearly three decades at Apple, emphasized his deep connection with the company and its mission.“I love what I do deeply. I...

Urban Company Shares Surge 13% After SBI Mutual Fund Acquires Nearly 4% Stake Stock Jumps on Strategic Stake Purchase New Delhi, March 18: Shares of Urban Company witnessed a sharp rally on Wednesday, climbing over 13 percent after SBI Mutual Fund acquired a significant stake in the company through bulk and block deals.The stock surged 13.20 percent to Rs 124.35 per share on the BSE, while on the NSE it advanced 13.01 percent to Rs 124.43, reflecting strong investor sentiment following the transaction.SBI Mutual Fund Increases Holding to 5.87% SBI Mutual Fund purchased more than 5.75 crore shares, representing nearly a 4 percent stake in Urban Company, during trading on Tuesday.The acquisition was executed in the price range of Rs...

FFFAI Urges Government Action as War Risk Surcharge Disrupts Shipping Trade Industry Body Flags Rising Costs and Operational Uncertainty Amid West Asia Crisis New Delhi, March 18The Federation of Freight Forwarders' Associations in India (FFFAI) has called for immediate government intervention following the imposition of war risk surcharges (WRS) by shipping lines amid the ongoing West Asia crisis.In a letter addressed to the Ministry of Ports, Shipping and Waterways, the industry body highlighted that shipping companies have begun levying additional charges on cargo shipments to and from certain destinations, significantly impacting trade operations.Surcharge Burden Nearly Doubles Freight Costs According to FFFAI, in multiple...

Government Expands ALMM Framework to Solar Ingots and Wafers, New Rules Effective June 2028 MNRE Introduces ALMM List-III to Strengthen Domestic Solar Supply Chain New Delhi, March 18: The government has expanded the Approved List of Models and Manufacturers (ALMM) framework to include solar ingots and wafers, marking a significant step in strengthening India’s domestic solar manufacturing ecosystem. The new norms will come into effect from June 1, 2028.The Ministry of New and Renewable Energy (MNRE) has introduced ALMM List-III specifically for ingots and wafers. This move extends mandatory domestic sourcing requirements beyond solar modules and cells to upstream components within the solar value chain.Grandfathering Provisions to...

SBI Raises ₹6,051 Crore via Basel III Tier II Bonds at 7.05% Coupon Strong Investor Demand Drives Oversubscription New Delhi, March 18: State Bank of India (SBI) on Tuesday announced that it has successfully raised ₹6,051 crore through its second Basel III-compliant Tier II bond issuance, offering a coupon rate of 7.05 percent.The bond issue witnessed strong investor interest, receiving bids worth nearly two times the base issue size of ₹5,000 crore. The bank confirmed that a total of 47 bids were submitted, reflecting participation from a wide spectrum of qualified institutional investors.Diverse Institutional Participation According to SBI, the investor base included provident funds, pension funds, mutual funds, and banks...