Business

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...

New Delhi, April 10: When combined with the government’s PMSuryaGhar initiative, which enables households to generate electricity through solar power, a new electric stove technology that mimics LPG flames could significantly reduce India’s dependence on liquefied petroleum gas (LPG), Union Minister Pralhad Joshi said on Friday.In a post on the social media platform X, Joshi shared his impressions of an innovative imported cooking stove that uses electricity to produce flame-like burners similar to those used in LPG-based cooking.He described the technology as impressive and highlighted its potential to transform the way households cook, particularly in the context of India’s push toward cleaner and more sustainable energy...

Decoding US Economic Slowdown Amidst Mixed Market Signals The US stock market has displayed noticeable resilience in April, posting healthy gains following a more volatile March. The S&P 500, for instance, ended the first nine days of the month in the green, achieving a cumulative gain of about 5%. This positive momentum follows two consecutive months of declines fueled by geopolitical uncertainties and valuations concerns within the technology sector.However, the surface positivity masks underlying economic concerns. Observers note that while the market is bullish, both economic growth has notably slowed, and inflationary pressures remain stubbornly above the US Federal Reserve's 2% target.Key Economic Indicators Reveal...

AMFI data released on April 10 reveals a distinct pattern in investor behavior: strong, sustained inflows into equities contrasted sharply with significant outflows across other major asset classes during March. This divergence points to continued high conviction in the equity market, even amidst market turbulence.Equity Outperforms: Robust Inflows Signal Investor Confidence Equities demonstrated remarkable resilience, absorbing capital despite the volatility fueled by geopolitical tensions and surging crude oil prices. Overall equity inflows rose sharply to Rs 40,450 crore in March. This represents a significant year-over-year jump of more than Rs 14,000 crore when compared to February’s figures.This positive flow into stocks was...

Saatvik Green Energy captured headlines on Friday, blasting to its 10% upper circuit limit of ₹ 463.00 on the BSE. This sharp upward move followed the company's announcement regarding a significant new order win. The small-cap stock extended its gains for the third straight trading session, drawing intense investor focus.Catalyst Driving the Sector Rally: Major Order Confirmation The primary catalyst fueling the stock’s surge was the announcement from Saatvik Green Energy. The company disclosed that its material subsidiary, Saatvik Solar Industries Private Limited, secured and accepted an order worth ₹ 108.75 crore. This contract is for the supply of Solar PV Modules from a renowned Independent Power producer/EPC Player.According to...