Business

India's crucial satellite communication rollout remains suspended in anticipation of final nods from the Department of Telecommunications (DoT). Both Starlink and Eutelsat OneWeb have navigated complex security vetting, yet the commercial launch timeline hinges on a major decision regarding spectrum allocation and pricing.Security Clearances Met, DoT Approval Pending Multiple sources indicate that both international players have successfully cleared stringent security requirements mandated by Indian agencies. This includes meeting necessary conditions related to lawful interception and monitoring protocols.Despite these significant security achievements, the final commercial approval from the DoT has yet to materialize. A source...

New Delhi, April 10 The Asian Development Bank (ADB) said on Friday that India can strengthen its social protection efforts by adopting an "integrated social protection framework" that aims to reduce duplication of benefits, improve targeting, and free up fiscal resources for long-term growth.Outlining the policy challenges in India, ADB, in its Asia Development Outlook report, said that multiple central and state schemes serve overlapping beneficiary groups, with limited coordination on eligibility, benefit levels, or delivery."A unified framework – combining pensions, health insurance, and disability coverage, complemented by contributory schemes – would reduce duplication of benefits and better address the varied vulnerabilities...

Ola Electric Mobility shares have staged a significant rebound, surging 70% in April so far. This rally offers palpable relief to shareholders following a severe downturn. While the stock shows signs of a strong technical recovery, analysts caution that deep-seated fundamental hurdles, particularly profitability and debt management, remain critical watchpoints.The stock’s dramatic upward momentum arrives after a painful period. During six consecutive months starting in October, the stock had eroded 85% of its value. It had previously plumbed a low of ₹ 21.21 per share, wiping out nearly ₹ 9,000 crore from investor capital.Key Drivers Fueling Ola Electric's Stock Surge The market's renewed confidence appears to be anchored by visible...

Non-Resident Indian (NRI) investors are frequently seeking clarity on the taxation of income generated from Indian equities and bank accounts. The complexity of Indian tax laws can often create uncertainty for those managing international wealth.Ask Wallet Wise recently addressed a common query regarding NRE account holders investing in Indian equities. The core questions revolved around the taxability of dividends and general interest income for NRIs.Tax Implications for Different Income Streams for NRIs Experts clarified that a non-resident is only liable to pay tax in India on income sourced within India. However, not all interest earned by an NRI remains tax-free.While interest on NRE and FCNR accounts remains tax-free...

Park Medi World shares saw a significant surge of nearly 6% on Friday, April 10, following a major corporate announcement. The company unveiled plans for a new multi-super specialty hospital in Panchkula, set to begin operations on the same day. This move signals a substantial expansion aimed at revolutionizing healthcare access across Northern India.The newly established Panchkula facility is designed to bolster tertiary and quaternary healthcare services within the Tricity area. This ambitious development is expected to reduce the historical reliance on major metropolitan centers for complex medical treatments.Super Specialty Expansion Fuels Park Medi World Rally The state-of-the-art Panchkula hospital will feature advanced...

Bitcoin experienced a significant surge, hitting $72,819 in early trading on April 10th. Despite this high, the cryptocurrency later trimmed some gains, settling at $71,916 as of 10:20 IST. This movement still represents a notable 1.63 percent gain over the preceding 24 hours.Crypto analysts attribute this recent rally to easing macroeconomic tensions and a noted short squeeze. However, experts caution that momentum has slowed as underlying market uncertainty begins to resurface.Key Technical Levels and Market Sentiment Indicators Market participants are closely monitoring critical technical support and resistance zones. CoinSwitch Markets Desk advises that $69K to $70K currently acts as key support for Bitcoin. Conversely, the...

Tech Sector Loses Ground as Benchmark Indices Surge Higher Information technology stocks faced significant selling pressure on Friday, abruptly ending a six-session upward streak. This downturn occurred as investors actively shifted capital towards financial and cyclical sectors. Despite the weakness in the IT index, benchmark indices remained robustly positive.The Nifty IT index slipped by 2.4 percent at 10:22 am, emerging as the worst-performing sector. Conversely, the broader market continued its upward trajectory. The Sensex climbed 812 points, marking a 1.1 percent gain to reach 77,444. Meanwhile, the Nifty saw a gain of 242 points, trading at 24,017.Heavyweights Drive IT Sell-Off Amid Market Divergence The decline in IT...

Transforming Market Access: The Role of GeM and Womaniya The Government e Marketplace (GeM) has cemented its position as a crucial digital hub, facilitating the end-to-end procurement of goods and services for Central and State bodies. Launched in 2016, this platform operationalized a vision of "Minimum Government, Maximum Governance" through paperless and cashless transactions. Recognizing the need to integrate diverse suppliers, the Government introduced the Womaniya Initiative on GeM in 2019.This focused initiative was designed to address market access constraints specific to women-led micro and small enterprises (MSEs) and Self-Help Groups (SHGs). Womaniya provides a dedicated digital interface to connect these producers directly...

Seoul, April 10 – South Korea's media watchdog approved regulations on Friday that require bulk phone text messaging service providers to implement safeguards against illegal spamming as a condition for maintaining their certification.The Korea Media and Communications Commission (KMCC) announced this after holding its first regular meeting since its launch in October 2025, as part of the government's efforts to curb illegal messaging activities, according to Yonhap news agency.Specifically, messaging service providers must meet 16 criteria, including banned-word filtering systems and measures to prevent unlawful use, to qualify for bulk transmissions.The government will cancel certifications if messages linked to illegal...

Gold and silver rates saw a notable dip in early trading sessions on April 10, 2026. Precious metals experienced declines across major markets, primarily attributed to profit booking and shifting global currency dynamics. Investors are closely monitoring the impact of geopolitical developments, especially concerning the US-Iran situation.Precious Metals Trade Shows Early Decline on MCX Gold rates on the MCX dipped by 0.60% during early trades, settling at ₹ 1,52,561 per 10 grams. Silver prices followed suit, declining by 0.70%, with the metal trading at ₹ 2,42,067 per kg.These downward movements in both commodities reflect investor behavior in response to ongoing market uncertainty. The decline was driven by profit booking...

The Indian equity markets rebounded sharply on Friday, fueled by robust buying activity concentrated in the financial sector and positive global sentiment. Benchmark indices Sensex and Nifty recorded significant gains, helping the market shake off a preceding losing streak.At around 10:30 am, the Sensex surged by 831.62 points, marking a 1.09 percent increase to reach 77,463.27. Concurrently, the Nifty advanced by 238.85 points, gaining 1 percent to settle at 24,013.95.In broader market measures, the Nifty Smallcap100 and Nifty Midcap100 both showed strength, advancing by 1.58 per cent and 0.85 per cent, respectively. Out of the 16 major sectoral indices, a majority traded higher, with pharmaceuticals and IT being notable laggards...

Sun Pharmaceutical Industries Limited witnessed a sharp sell-off in the morning trade on Friday. Shares slipped nearly 4 percent following reports indicating the company is advancing with a binding $12 billion offer for Organon & Co.The stock was trading at Rs 1,653.50 on the NSE, marking a decline of Rs 63.60 or 3.70 percent. This movement highlights investor reaction to the deepening news surrounding the potential mega-merger.Developments in the Organon Acquisition Bid An Economic Times report detailed that the Mumbai-based drugmaker has concluded over three months of rigorous due diligence. The company is reportedly now finalizing the necessary financing package.This progress signals that a firm offer could be submitted in the...

Major banks have substantially unwound their arbitrage positions in the offshore non-deliverable forwards (NDF) market. This significant deleveraging comes as most institutions exited their bets ahead of a critical deadline set by the Reserve Bank of India (RBI). Treasury officials confirmed that the market saw a quantum of positions wound up estimated between $30 billion and $40 billion.However, despite the clearing of these speculative trades, market participants remain cautious. Underlying geopolitical uncertainty continues to loom, posing potential downward pressure on the Indian rupee.Understanding the Mechanics of NDF Contracts A Non-Deliverable Forward (NDF) is a financial instrument that settles a short-term forward contract...

New Delhi, April 10 The Asian Development Bank (ADB) on Friday projected India's GDP growth to remain "robust" at 6.9 per cent in the current fiscal, and rise to 7.3 per cent in the next fiscal, driven by strong domestic demand, and supported by easing financing conditions and lower US tariffs on Indian goods.In its Asian Development Outlook report, the ADB said a prolonged conflict in the Middle East could undermine India's macroeconomic performance through multiple channels.These include higher energy prices, disruptions to trade flows, and weaker remittance inflows given the region's continued importance for India's external sector.It projected inflation to more than double from 2.1 per cent in 2025-26 to 4.5 per cent in the...

Indian equities witnessed a sharp rally on April 10, with investors displaying cautious optimism. This positive sentiment built ahead of anticipated discussions regarding the US and Iran this weekend.Banking and Large-Cap Performers Lead Market Rally The banking sector was a key driver of gains. ICICI Bank, Axis Bank, and Punjab National Bank all rose by approximately 2 percent.Several other major banks also showed strength. Federal Bank, Canara Bank, HDFC Bank, Kotak Mahindra Bank, State Bank of India, and IndusInd Bank each posted gains of about 1.5 percent.Midcap and Smallcap Stocks Drive Selective Gains Midcap and smallcap stocks demonstrated selective interest, leading notable surges. New India Assurance experienced a...

Commodity markets witnessed a notable upward trend today, driven by movements in global macro indicators. Crude oil advanced for a second consecutive session. Gold extended its rally for the second day, while silver sustained its climb for a fourth straight session.Crude Oil Market Performance and Inventory Concerns Crude oil prices showed resilience, with Brent crude climbing to around $96 per barrel. This follows a 1.2 percent rise recorded in the previous session. Despite the gains, the price remains down by more than 11 percent for the week following the US-Iran ceasefire announcement.West Texas Intermediate was observed trading near $98 per barrel. Adding to the supply narrative, Saudi Arabia confirmed a reduction in its...

Fuel Rates Hold Steady Despite Global Oil Market Jitters Petrol and diesel prices across major Indian cities saw no change on Thursday, April 10, 2026. This stability occurs despite persistent volatility observed in global crude oil markets. Such volatility is being fueled by ongoing disruptions along key international shipping routes.The current pause in retail fuel price revisions marks the beginning of the new financial year, 2026-27. Fuel pricing is naturally under intense scrutiny during this period. Furthermore, market attention is focused on potential impacts ahead of upcoming state elections, though no price revisions have been announced to date.Understanding the Price Mechanism for Indian Fuel The daily pricing mechanism...

RDB Infrastructure And Power shares demonstrated significant momentum, rising over 4% on Friday, April 10. The jump in trading activity follows the announcement of crucial leadership appointments and the greenlighting of a substantial new business vertical. These corporate developments signal a major strategic pivot for the infrastructure firm.Key Appointments Bolster Management Leadership The immediate catalyst for the stock movement involved key managerial personnel changes. The company formally appointed Mr. Shubham Vaidya as the new Managing Director, effective April 09, 2026. His designation as MD necessitates approval at the forthcoming General Meeting.Furthermore, the role of Chief Financial Officer was taken up by Mr...

Sovereign Bond Yields Remain Flat Ahead of Major Debt Auction Sovereign bonds demonstrated stability on April 10 as market participants adopted a cautious, on the sidelines approach. This calm sentiment persisted ahead of a scheduled government debt auction later in the day. The benchmark 10-year bond yield registered a flat rate of 6.96 percent, mirroring the yield recorded on the preceding trading day.The government is slated to tap the debt market later today. The auction aims to raise Rs 34,000 crore by issuing benchmark 10-year bonds. Furthermore, the Reserve Bank of India (RBI) has signaled an upcoming auction for state governments. These state entities are expected to raise Rs 12,700 crore through a debt auction scheduled for...

Poonawalla Fincorp has officially launched its Qualified Institutional Placement (QIP), setting a floor price of ₹390.26 per equity share. This initial pricing reflects a slight dip, marking a 2.6% decrease compared to the previous closing level. The issue follows crucial board and shareholder clearances, signaling a significant capital infusion for the NBFC.Key Details of the QIP Launch and Pricing Structure The company announced the QIP launch via an exchange filing on Friday, April 10, 2026. The committee of directors approved the floor price at ₹390.26 per share. This floor price is notably lower than the last recorded closing price of ₹401 on the BSE.The initial pricing mechanism is governed by the formula prescribed under SEBI...