Business

Mumbai, April 8 The rupee appreciated by 50 paise to 92.56 against the US dollar in early trading on Wednesday, following US President Donald Trump's announcement of a two-week suspension of military strikes against Iran.Forex traders said the announcement of a two-week ceasefire triggered a wave of bargain buying among risk assets, as Asian stocks, Dow futures, gold, and silver all rallied, while Brent oil fell below $100 to $96 per barrel.The rupee surged to 92.56 levels, with the RBI deadline still in place until April 10 (regarding squaring of positions taken overnight up to $100 million), while the RBI will announce its monetary policy today at 10 am.At the interbank foreign exchange market, the rupee opened at 92.92 against...

New Delhi, April 8 Crude oil prices plunged sharply on Wednesday, falling by 6 per cent to hit their lower circuit level in futures trading, as global benchmarks weakened following the announcement of a two-week ceasefire between the US and Iran.On the Multi Commodity Exchange (MCX), futures for April delivery of crude oil declined by Rs 640, or 6 per cent, to Rs 10,029 per barrel – its lower circuit limit.Similarly, the May contract fell by Rs 565, or 6 per cent, to Rs 8,860 per barrel, also hitting its lower circuit limit due to aggressive selling as easing tensions reduced fears of supply disruptions.Globally, oil prices retreated after the ceasefire announcement between the US and Iran, which is expected to restore supply...

Mumbai, April 8 – Dalal Street experienced a significant boost on Wednesday, with equity benchmarks opening sharply higher, jumping more than 3 per cent each after both sides announced a two-week ceasefire in the US-Israel-Iran conflict.The Sensex climbed as high as 3.71 per cent, or 2,775 points, to 77,392, hitting an intra-day high in the early trading hours. Similarly, the Nifty traded at 23,938, up 3.52 per cent or 815 points, from the previous close, amid buying in stocks from the auto, real estate, banking, IT, and metal sectors.All sectors witnessed a rebound and traded in positive territory. Specifically, real estate, auto, banking, and pharmaceutical stocks saw gains of up to 6 per cent.In terms of market capitalization...

Gautam Adani Moves US Court to Dismiss SEC Securities Fraud Case, Challenges Jurisdiction and Legal Basis Adani Seeks Dismissal of SEC Lawsuit in New York Court Billionaire Gautam Adani has approached a United States court seeking dismissal of a securities fraud lawsuit filed by the US Securities and Exchange Commission. The case, currently before the Eastern District Court of New York, also names his nephew Sagar Adani as a defendant.The SEC had initiated the lawsuit in November 2024, alleging that the Adanis misled investors by not disclosing an alleged bribery scheme involving Indian state officials. The allegations were framed under US securities laws.Through their legal representatives, both Gautam Adani and Sagar Adani have...

Seoul, April 8 – South Korea recorded its largest-ever monthly current account surplus in February, driven by a semiconductor upcycle and strong exports, according to data released by the central bank on Wednesday.The current account surplus totaled $23.19 billion in February, up sharply from $13.26 billion in January, according to data from the Bank of Korea (BOK), reports Yonhap news agency.This marked the highest monthly surplus ever, surpassing the previous record of $18.7 billion set in December 2025.South Korea has reported a current account surplus every month since May 2023, extending its winning streak to 34 consecutive months, the second longest in history."This was the first time that the monthly current account...

Seoul, April 8 – South Korean stocks surged on Wednesday morning as the United States and Iran reached an agreement on a two-week ceasefire and the reopening of the Strait of Hormuz.The benchmark Korea Composite Stock Price Index (KOSPI) rose 326.12 points, or 5.94 percent, to 5,820.9 as of 11:20 a.m. (local time), according to Yonhap news agency.The stock exchange operator temporarily halted program-driven buy orders in KOSPI futures earlier in the session.U.S. President Donald Trump said in a social media post that the U.S. would suspend attacks on Iran for two weeks if Tehran agrees to the "complete, immediate and safe opening" of the crucial strait.In response, Iran's foreign ministry released a statement accepting the...

The Telecom Regulatory Authority of India (TRAI) today released the Draft Telecom Consumer Protection (Thirteenth Amendment) Regulation, 2026.This new draft regulation aims to address consumer feedback regarding the availability of special tariff vouchers. TRAI had previously issued the Telecom Consumer Protection (twelfth Amendment) Regulation, 2024, which required every telecom service provider to offer at least one Special Tariff Voucher exclusively for Voice and SMS. However, it was observed that only a limited number of Special Tariff Vouchers (STVs) were being provided for Voice and SMS.In response to several representations highlighting the need for shorter-duration Voice and SMS only packs, the Authority has determined it...

RBI MPC Meeting Outcome Today: All Eyes on Policy Decision The Reserve Bank of India (RBI) is set to announce the outcome of its first Monetary Policy Committee (MPC) meeting for the financial year 2026 to 27 on Wednesday, April 8. The three-day meeting, chaired by RBI Governor Sanjay Malhotra, concludes today with a closely watched policy decision.The six-member committee is reviewing key macroeconomic factors including interest rates, inflation trajectory, and economic growth outlook at a time of rising geopolitical tensions in the Middle East and pressure on the Indian rupee.This announcement follows the February 2026 policy, where the RBI kept the repo rate unchanged at 5.25 percent after cumulative rate cuts of 125 basis points...

New York, April 7 Billionaire Gautam Adani and his nephew Sagar Adani have asked a US court to dismiss a securities fraud lawsuit filed by the US Securities and Exchange Commission, arguing that the case falls outside US jurisdiction and fails to establish any wrongdoing.In a pre-motion letter filed ahead of a planned April 30 motion seeking dismissal of the lawsuit, the Adanis, through their lawyers, said the SEC's claims regarding a 2021 bond sale by the group's renewable energy arm, Adani Green Energy Ltd (AGEL), are legally flawed on multiple grounds.The SEC sued the Adanis in November 2024, alleging they misled investors by failing to disclose a purported bribery scheme involving Indian state officials, framing the case under...

New Delhi, April 7 – India’s market regulator, the Securities and Exchange Board of India (SEBI), announced on Tuesday a one-time relaxation for public offerings, acknowledging that ongoing geopolitical tensions, particularly in the Middle East, have slowed fundraising activity and reduced investor participation.Under existing regulations, companies are required to launch their public offerings within 12 to 18 months from the date SEBI issues its observations on their offer documents.However, many firms have found it difficult to meet these timelines due to volatile market conditions and weaker investor sentiment.In a circular, SEBI said it had received requests from industry bodies pointing to challenges in raising capital...

Jammu, April 7 Jammu and Kashmir Bank's business has crossed Rs 2.90 lakh crore, its Managing Director and CEO Amitava Chatterjee said on Tuesday, as Lt Governor Manoj Sinha inaugurated the lender's regional business centre here.Marking a significant milestone in the bank's infrastructure and business expansion strategy, the centre will serve as a vital operational and administrative hub.The facility is designed to further improve service delivery and operational efficiency through its robust infrastructure and enhanced customer interface areas, an official spokesman said.The Lt Governor congratulated and extended his felicitations to the entire team of J&K Bank on the occasion.The integrated and technology-enabled business...

New Delhi, April 7 Sebi on Tuesday extended the validity of IPO and rights issue approvals until September 30 to give companies more time to launch their offerings, amid ongoing tensions in West Asia.According to a Sebi circular, the regulator's observation letters, which were originally set to expire between April 1, 2026 and September 30, 2026, will now remain valid until September 30, 2026.Under existing norms, companies are required to launch their public issues within 12 or 18 months, as applicable, from the date of issuance of Sebi's observations.However, the regulator said it has received representations from industry bodies highlighting the difficulties faced by issuers in mobilizing resources and accessing capital markets...

The Government of India held a media briefing covering updates across various sectors, including aviation, energy supply, maritime operations, and the welfare of Indian nationals in West Asia. Representatives from the Ministries of Petroleum and Natural Gas, Ports, Shipping and Waterways, and External Affairs shared operational details, alongside measures implemented by the Ministry of Civil Aviation to ensure stability amid ongoing disruptions.Civil Aviation Sector Updates The Ministry of Civil Aviation reported that the Indian aviation sector is navigating a serious operational and financial situation stemming from the conflict in West Asia that began in late February. To ensure passenger safety and industry stability, a...

New Delhi, April 7 Indian airlines have cancelled over 10,000 flights since the onset of the West Asia conflict, as escalating tensions and airspace restrictions disrupted international operations, a senior government official said.The widespread closure of key transit corridors forced airlines to suspend or reroute services, particularly on long-haul routes to Europe and North America."On average, Indian airlines used to fly about 300 to 350 flights daily to the Middle East (both ways put together). Today that number has come down to 80-90. That takes the total (flights cancelled by Indian carriers) since the beginning of the situation, that is from February 28, to over 10,000," Asangba Chuba Ao, Joint Secretary in the Ministry of...

New Delhi, April 7 Tata Mutual Fund announced on Tuesday the resumption of all fresh inflows through lump-sum and switch-in applications for the Tata Small Cap Fund, effective April 6.This decision follows a period where the fund house had restricted lump-sum inflows to manage liquidity and capital deployment within the small-cap segment."Our decision to resume subscriptions reflects our confidence in current investment opportunities and our ability to identify businesses with strong balance sheets and sustainable growth trajectories. While volatility is inherent to this category, the recent correction has created an opportunity to build positions at more reasonable entry points for potential long-term compounding," Anand...

Mumbai, April 7 Yatra Online announced a strategic collaboration with Google Cloud on Tuesday to accelerate its AI-driven transformation across both corporate and personal travel businesses.By leveraging the multimodal capabilities of Google Gemini on Vertex AI, Yatra is building a new generation of intelligent, agent-based travel solutions designed to simplify booking, enhance expense management, and deliver seamless end-to-end travel experiences, the online travel company said in a statement."AI is fundamentally reshaping how travel is planned, booked, and managed.Our collaboration with Google Cloud allows us to reimagine the entire travel lifecycle. With DIYA, we are enabling a more intuitive, conversational booking experience...

New Delhi, April 7 – The Ministry of Heavy Industries (MHI) organized a pre-bid conference here on Tuesday for prospective bidders under the 'Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnets' (REPM), attracting participation from at least 25 companies.During the conference, ministry officials made detailed presentations on the scheme's features, key Request for Proposal (RFP) provisions, and the procedural aspects of the bidding process.The conference addressed participant queries, and bidders were informed that the deadline for submitting queries via email is April 22, 2026.The bidding process will be conducted online in a transparent two-stage manner under the Least Cost Selection (LCS) mechanism through...

New Delhi, April 7 – Millions of central government employees and pensioners are eagerly awaiting the outcome of the drafting committee of the National Council (Joint Consultative Machinery) on April 13, to gain insights into the proposed salary revision under the 8th Pay Commission, according to a report published on Tuesday.The drafting committee meeting, scheduled for 11:00 am at the JP Choubey Memorial Library (AIRF office premises) here, will review a final common memorandum and discuss revisions to the pay scale, annual increments, allowances, and other benefits, the NDTV Profit report stated."The April 13 meeting is part of the continuation of the March 12, 2026, meeting, where all members of the 8th Pay Commission drafting...

Mumbai, April 7 The benchmark indices Sensex and Nifty ended higher on Tuesday, as a drop in crude oil prices and a rally in global markets calmed investors' sentiment.Also, buying in IT stocks aided the recovery in the markets after early losses.The 30-share BSE Sensex jumped 509.73 points, or 0.69 per cent, to settle at 74,616.58. During the day, it hit a high of 74,686.32 and a low of 73,282.41, fluctuating by 1,403.91 points.The 50-share NSE Nifty climbed 155.40 points, or 0.68 per cent, to end at 23,123.65.Among the major gainers from the 30-Sensex firms were Tata Consultancy Services, HCL Tech, Infosys, Bharti Airtel, Sun Pharma, and Hindustan Unilever.InterGlobe Aviation, Adani Ports, Mahindra & Mahindra, and Titan were...

New Delhi, April 7 Leading retail players reported strong double-digit revenue growth in the fourth quarter of FY26, driven by a stable demand environment and resilient macroeconomic conditions.Listed retail companies such as Trent, Avenue Supermarts (D-Mart), and V-Mart reported around 20 per cent year-on-year growth in their latest quarterly updates, aided by aggressive store additions and steady consumption trends.Trent, a Tata group firm, reported around 20 per cent growth in standalone (domestic) revenue to Rs 4,937 crore in the March quarter of FY26. This was up from Rs 4,106 crore in the corresponding January-March period a year ago."Revenue from the sale of merchandise (excluding other operating income) grew by 21 per cent...