Business

Qatar reaffirmed its strong commitment to remaining a reliable energy supplier to India. This assurance came during a high-level visit by India's oil minister, Hardeep Singh Puri, underscoring the strategic depth between the two nations.The discussions emphasized strengthening multifaceted energy cooperation between the world's two rapidly growing economies.Strategic Dialogue Underlines Deepening India-Qatar Bonds During his official two-day visit, Mr. Puri met with H.E. Saad Sherida Al-Kaabi, the Qatar Energy Minister of State for Energy Affairs. The ministers engaged in detailed discussions covering numerous strategic vectors.These included trade, investment, energy security, cultural exchange, and people-to-people relations...

New Delhi, April 10 – The National Scheduled Castes Finance and Development Corporation (NSFDC) disbursed ₹775.26 crore in FY26, representing a 27 per cent growth over the previous financial year (FY25), an official statement said on Friday.The Public Sector Undertaking (PSU) under the Ministry of Social Justice and Empowerment achieved this landmark performance during the financial year 2025–26, recording its highest-ever disbursement since its inception.The Corporation also significantly expanded its reach, covering 59,002 beneficiaries, a 41.32 per cent increase over FY 2024–25.Of these, 39,804 were women beneficiaries, reflecting a 48 per cent growth and reaffirming NSFDC's focus on inclusive and gender-responsive development...

New Delhi, April 10 Vishal Nirmiti Ltd, a civil engineering, manufacturing, and construction firm, has received approval from Sebi to raise funds through an initial public offering (IPO), according to an update with the markets regulator on Friday.The proposed IPO involves the issuance of up to Rs 125 crore in new equity shares, along with an offer for sale (OFS) of 15 lakh equity shares by the promoter, according to the draft documents.The Pune-based company, which filed preliminary IPO papers with Sebi in December, received its observations on April 9. In regulatory terms, Sebi's observation is equivalent to clearance for launching a public issue.According to the draft documents, the proceeds from the IPO are proposed to be used...

New Delhi, April 10 – The Vedanta Group on Friday questioned the evaluation criteria used by lenders of Jaiprakash Associates Ltd (JAL) in selecting Adani Enterprises' bid of Rs 3,400 crore for the debt-ridden company.During proceedings of the National Company Law Appellate Tribunal (NCLAT), the legal counsel representing Vedanta Ltd. stated that the evaluation process had been used to "negate commercial expertise" by the Committee of Creditors (CoC).Senior advocate Abhijeet Sinha, while pointing to the CoC's evaluation matrix, asked if it was used "to maximize value or for some other purpose."He argued that the evaluation matrix, the request for resolution plan (RFRP), and the process note relied upon by the CoC were merely...

Broad Market Outperformance Fuels Equity Rally on April 10 Indian equity indices posted a robust comeback on April 10, rallying strongly after a muted previous session. The market's positive buoyancy was underpinned by favorable global cues and easing geopolitical concerns. Indices witnessed broad-based buying sentiment, enabling the Nifty 50 to touch 24,074.05 intraday before settling near its day's peak.At the close of trading, the Sensex climbed by 918.60 points, marking a 1.20 percent surge to reach 77,550.25. Concurrently, the Nifty recorded a gain of 275.50 points, posting a 1.16 percent rise to settle at 24,050.60.Midcap and Smallcap Segments Lead Market Gains Broader market indices demonstrated outperformance relative to the...

Mumbai, April 10 The rupee reversed initial gains and closed the day 17 paise lower at 92.68 (provisional) against the US dollar on Friday, weighed down by risks from rising global tensions, particularly the US-Iran conflict.Forex traders said the rupee witnessed high volatility as the deadline for the RBI's instructions to banks to curb their overnight positions to USD 100 million approached on Friday amid heightened geopolitical uncertainty.At the interbank foreign exchange market, the rupee opened at 92.58 against the US dollar, then lost ground to touch an intra-day low of 92.76 against the greenback. It also hit the day's high of 92.41 during the session.At the end of the trading session on Friday, the rupee was quoted at...

Mistry on Listing: Governance and Public Interest Drive for Tata Sons IPO Shapoorji Pallonji Mistry has strongly advocated for the timely Initial Public Offering (IPO) of Tata Sons. He framed the listing not merely as a compliance measure but as a vital, necessary evolution for the entire Tata Group.Mistry stated that such a public listing is crucial for reinforcing corporate governance, deepening transparency, and strengthening accountability across the group structure. These three elements, he emphasized, form the very bedrock of the Tata Group's ethos.Addressing Concerns Over Trusts and Beneficiaries The industrialist directly addressed concerns regarding the impact of a public listing on the Tata Trusts. He asserted that no...

New Delhi, April 10 – India’s digital payment system, the Unified Payments Interface (UPI), is set to celebrate its 10th anniversary on April 11, after experiencing a 12,000-fold increase in volume and over 4,000-fold increase in value.According to data from analytics firm Tracxn, the payment system has grown from 17.86 million transactions worth Rs 6,952 crore in FY17 to 218.98 billion transactions amounting to nearly Rs 285 lakh crore in FY26.The number of transactions gradually increased over the initial years—to 915 million in FY18 and 5.39 billion in FY19—before UPI became mainstream in FY20, facilitating 12.52 billion transactions worth over Rs 21 lakh crore.The pandemic years saw accelerated adoption, with volumes jumping...

Mumbai, April 10 – Indian equity benchmarks resumed their upward momentum on Friday after a brief one-day pause, as investors closely monitored developments in West Asia and assessed their potential impact on global markets.Both the Nifty and the Sensex ended higher, extending their recent gaining streak. At the close, the Sensex rose by 918.6 points or 1.20 percent to end the intra-day trading session at 77,550.25.The Nifty also followed suit and closed at 24,050.6, up 275.5 points or 1.16 percent.The gains in the frontline indices were supported by select heavyweights, with stocks such as Asian Paints, Eicher Motors, Bajaj Auto, and Shriram Finance emerging as the top performers on the Nifty.The broader markets outperformed...

TRAI Pushes Back Key Dates for Telecom Regulations Submission The Telecom Regulatory Authority of India (TRAI) has issued a major update regarding its consultation on the "Draft Telecom Commercial Communication Preference (Third Amendment) Regulations, 2026." The authority has acted on substantial requests from industry stakeholders.The original schedule required stakeholders to submit comments by April 12, 2026, and counter comments by April 27, 2026. These timelines have now been officially adjusted following industry feedback.Reasons Behind the Extension of Consultation Period The decision to extend the deadline stems from the comprehensive nature of the proposed amendments. Stakeholders emphasized that the changes carry...

Key Watch: Strait of Hormuz Status Clouds Oil Outlook Ahead of Weekend Talks Global oil prices face potential upward volatility if the recovery of shipments through the critical Strait of Hormuz proves slower than currently priced into the market. JPMorgan Chase & Co. issued a warning that a gradual return to normal flows could push benchmark crude prices towards wartime highs.The market is currently anticipating a rapid normalization of oil traffic through the Strait. Earlier analysis pointed toward roughly half of normal flows returning by May, with a full resumption expected by June.Analyst Viewpoints on Oil Price Trajectory and Risks However, JPMorgan analysts suggest that a slower ramp-up introduces significant upside...

Push for Alternative Fuels to Decarbonize Construction Sector Union Minister for Road Transport and Highways, Shri Nitin Gadkari, today delivered a strong directive regarding the future trajectory of India's infrastructure sector. Addressing the 17th CIDC Vishwakarma Awards and Exhibition 'Viksit Bharat 2047' in New Delhi, the Minister emphasized sustainable practices as the bedrock of modern construction. He urged stakeholders to actively explore alternatives to conventional energy sources.A key focus area was the widespread adoption of biofuels and biomass-based fuels. Gadkari highlighted that these alternative fuel technologies are crucial for substantially reducing dependence on fossil fuels while also lowering operational costs...

New Delhi, April 10 As the world scrambles to recover from the biggest energy shock in decades triggered by the West Asia conflict, India should be cautious about relying on traditional supply assumptions, particularly its proximity to the Middle East for sourcing oil and gas, ONGC Chairman and CEO Arun Kumar Singh said on Friday.India, which relied on the Middle East to meet nearly half of its crude oil imports, 30 per cent of its gas, and 85-90 per cent of LPG, must invest in building strategic storage as an insurance against price and supply disruptions, he said.The six-week closure of the only shipping lane used by the Gulf countries to export crude oil (the raw material for making petrol and diesel), natural gas (used to make...

New Delhi, April 10 – The government has allowed the export of basmati and non-basmati rice to certain European countries without the mandatory inspection certificate for a period of six months, according to an official notification issued on Friday.The requirement for an inspection certificate, issued by the export inspection agency, will continue to apply only to member states of the European Union, the United Kingdom, Iceland, Liechtenstein, Norway, and Switzerland. All other European countries have been exempted from this requirement for the six-month period, the notification said.This move is aimed at facilitating exports in the face of rising global demand for Indian rice.Earlier, the government had stated that rice exports...

Om Power Transmission's Initial Public Offering (IPO) has shown marked strengthening investor appetite, crossing an overall subscription mark of 54% by Day 2 of the bidding process on Friday, April 10. This uptick signals growing interest as the company continues its public offering, which began on April 9 and concludes on April 13.The increased momentum was notably driven by retail individual investors, who demonstrated significantly better traction compared to the opening day performance.Strong Investor Demand Details Across Bidding Categories The latest data from the BSE reveals a healthy distribution of investor interest across the different segments of the IPO. Qualified Institutional Buyers (QIBs) remain robustly interested...

Indian Refiners Increase Reliance on Russian Crude Amid Middle East Volatility Indian refiners are aggressively acquiring Russian crude oil, anticipating sustained high purchase volumes throughout the year. This heightened demand is primarily driven by palpable supply constraints emanating from the Middle East. Furthermore, the perceived easing of US sanctions pressure is bolstering this strategic sourcing move.Leading refinery executives indicated that they anticipated an extension of the US waiver allowing Russian oil purchases before its impending expiration. However, industry insiders suggested that purchases are unlikely to decrease, even without the extension. They cited a persistent scarcity of alternative supply options as the...

Centrum Broking Ltd has named CCL Products, Mold-Tek Packaging, and La Opala RG as standout mid-cap investments for the upcoming Q4FY26. The brokerage firm anticipates sustained growth momentum across these consumer-focused stocks. This positive outlook is supported by expectations of steady volume expansion and an improving product mix, even as the market navigates volatility.Centrum Maintains 'Buy' Rating on Key Mid-Cap Players Centrum's Q4FY26 results preview report suggests that robust demand and efficient operations will continue to drive performance. The brokerage maintains a 'BUY' rating across all three stocks. They project specific price targets: CCL Products at ₹ 1,330, Mold-Tek Packaging at ₹ 730, and La Opala RG at ₹ 260...

Minister Puri's Key Talks Solidify India-Qatar Energy Partnership The Hon'ble Minister of Petroleum and Natural Gas, Mr. Hardeep Singh Puri, concluded a significant two-day official visit to Doha, Qatar, on April 10, 2026. During his visit, he held crucial discussions with H.E. Mr. Saad Sherida Al-Kaabi, the Qatar Minister of State for Energy Affairs, and President and CEO of QatarEnergy.During the evening session, Mr. Puri conveyed warm greetings and a message of solidarity and support from the Hon'ble Prime Minister of India, Mr. Narendra Modi. This message was extended to His Highness The Amir of Qatar, Sheikh Tamim bin Hamad Al Thani, and to the Prime Minister and Foreign Minister of Qatar, HE Sheikh Mohammed bin Abdulrahman Al...

Dalcore Enters Luxury Housing Segment with 'The Falcon' Launch Gurugram-based real estate developer Dalcore has made a significant foray into the branded luxury housing segment. The company officially launched 'The Falcon', a residential project valued at Rs 500 crore. This venture marks a strategic partnership with the global designing firm YOO. Dalcore is targeting an ambitious top-line revenue of Rs 1,450 crore from this endeavor.Project Details and Design Credentials The exclusive development is strategically located on Golf Course Road in Sector 53, Gurugram. Dalcore announced the project details on April 9. The project's interiors will be designed by YOO, while the architecture will be spearheaded by the London-based firm UHA...

The defence sector experienced a significant upward momentum, rising sharply by up to 16% amid a pronounced, broad-based rally across the broader market indices. Investors appear heavily bullish on the defence capabilities, fueling strong buying interest across the listed companies.Defence Sector Fuels Broad Market Momentum The overall market sentiment shifted decisively upward today, characterized by robust participation in key sectors. The defence stocks were central to this movement, recording substantial gains that reflected renewed investor confidence.This upward sweep was described as broad-based, meaning the rally was not confined to a single stock but permeated multiple companies within the sector.Key Gainers Drive Sector...