Business

New Delhi, April 7 Housing sales fell by 4% year-on-year in the January-March quarter to 84,827 units across eight major cities, driven by high property prices and market uncertainty stemming from the West Asia conflict, according to Knight Frank.Housing sales stood at 88,361 units in the January-March period last year.Sales of residential properties declined in Mumbai, Delhi-NCR, and Pune, but increased in the other five cities – Bengaluru, Hyderabad, Chennai, Ahmedabad, and Kolkata.According to Shishir Baijal, International Partner, Chairman & Managing Director, Knight Frank India, the moderation in residential demand warrants closer attention, particularly as it follows a sustained multi-year upcycle."While this phase can be...

New Delhi, April 7. Fast breeder reactors will play a crucial role in delivering reliable, low-carbon base-load power with higher thermal efficiency, the government said on Tuesday, as India’s 500 MWe Prototype Fast Breeder Reactor (PFBR) achieved first criticality.This milestone, marking the start of a controlled nuclear fission chain reaction, is seen as a significant step towards strengthening the country’s long-term energy security and advancing indigenous nuclear technology capabilities.The PFBR achieved criticality on Monday after meeting all safety stipulations laid down by the Atomic Energy Regulatory Board (AERB), which granted clearance following a rigorous review of plant systems.Moreover, Prime Minister Narendra Modi...

New Delhi, April 7 – JPMorgan Chase CEO Jamie Dimon has stated that geopolitical tensions, including the wars in Ukraine and Iran, represent the biggest risks facing the bank and the global economy, and urged a renewed commitment to core American values to navigate these uncertainties.The CEO warned about economic uncertainty stemming from these tensions, including their impact on commodities, as well as the widespread impact of artificial intelligence across industries."The challenges we all face are significant. The list is long, but at the top are the ongoing war and violence in Ukraine, the current war in Iran, and the broader hostilities in the Middle East, as well as terrorist activity and growing geopolitical tensions...

The 500 MWe Prototype Fast Breeder Reactor (PFBR) achieved first criticality, marking a major development for India's nuclear energy sector. This historic milestone occurred on April 6, 2026, at 08:25 PM, bolstering the nation's long-term energy security and advancing indigenous nuclear technology.The criticality was achieved in the presence of Dr Ajit Kumar Mohanty, Secretary, DAE & Chairman, AEC, Shri Sreekumar G. Pillai, Director, IGCAR, Shri Allu Ananth, CMD-In-Charge, BHAVINI, and Shri K.V. Suresh Kumar, Former CMD, BHAVINI & Homi Sethna Chair. This event followed the fulfillment of stipulations from the Atomic Energy Regulatory Board (AERB).The technology development and design for the PFBR were indigenously executed by the...

New Delhi, April 7 The government is considering a ₹2.5 lakh crore credit guarantee scheme to support businesses, especially MSMEs affected by the West Asia crisis, sources said.Under the scheme, a credit guarantee of about 90 per cent on loans of up to ₹100 crore would be provided to lenders in case of default by borrowers due to the ongoing US-Iran conflict.The guarantee on bank loans would be provided by the National Credit Guarantee Trustee Company (NCGTC), a wholly-owned subsidiary of the government.The government would have to provide about ₹17,000 crore to ₹18,000 crore for the scheme.Sources said the scheme was a huge success during the COVID-19 pandemic and helped many businesses across various sectors to stay afloat...

New Delhi, April 7 Crude oil prices surged by Rs 300, hitting a record high of Rs 10,888 per barrel in futures trading on Tuesday, driven by strong global energy benchmarks amid persistent supply concerns and geopolitical tensions in West Asia.On the Multi Commodity Exchange (MCX), crude oil for April delivery rose by Rs 300, or 2.83 per cent, to reach a lifetime high of Rs 10,888 per barrel.Similarly, the May contract also increased by Rs 170, or 1.82 per cent, to touch a new record high of Rs 9,485 per barrel on the MCX.Analysts said crude prices remained supported by tightening global supply conditions and uncertainty surrounding the Strait of Hormuz, a key shipping transit route for energy exports.The rally followed sharp...

Mumbai, April 7 – Shares of Jubilant FoodWorks Ltd, the parent company of Domino's outlets in India, plunged sharply in early trading on Tuesday after the company reported weak like-for-like (LFL) growth in its fourth quarter (Q4) business update.The stock fell as much as 9.23 per cent to Rs 418.50 on the NSE, underperforming the benchmark Nifty 50, which declined 0.6 per cent.Jubilant FoodWorks reported a consolidated revenue growth of 19 per cent year-on-year to Rs 2,506 crore in the January-March quarter.However, Domino's India posted a marginal LFL growth of 0.2 per cent during the quarter, indicating muted demand trends in its core market.Analysts said the weak LFL performance could weigh on margins in the India business...

New Delhi, April 7: Gold and silver prices experienced volatility on Tuesday, amid geopolitical tensions following US President Donald Trump’s recent aggressive posts regarding Iran.On the Multi Commodity Exchange (MCX), gold futures (June 5) were trading at ₹1,50,228, up ₹247 or 0.16 per cent at 11:35 am.On the intraday front, the yellow metal rose as much as 0.32 per cent or ₹493 to ₹1,50,474. Earlier in the session, before 10 am, it was trading lower by 0.23 per cent or ₹356 at ₹1,49,625.Similarly, silver futures (May 5) were trading 0.48 per cent or ₹1,121 higher at ₹2,34,500. The white metal gained nearly 1 per cent or ₹2,168 to hit an intraday high of ₹2,35,547, after earlier witnessing a decline of 0.67 per cent or ₹1,579...

New Delhi, April 7 – The Centre has decided to double the daily allocation of 5-kg free trade LPG (FTL) cylinders available for distribution to migrant labourers across states, according to an official communication.The Petroleum Ministry said in a notification that the enhanced allocation will be based on the average daily supply of cylinders provided to migrant workers.The revised allocation goes beyond the earlier cap of 20 per cent specified in the March announcement.The government also said that the additional 5-kg FTL cylinders will be made available to state governments and their Food and Civil Supplies Departments for distribution exclusively to migrant labourers, with the assistance of oil marketing companies (OMCs)...

New Delhi, April 7 – Global crude oil prices soared on Tuesday, hitting new highs with more than a 3 per cent jump, amid geopolitical tensions and US President Donald Trump's deadline on Tuesday to reopen the Strait of Hormuz to Iran.Brent crude futures rose as much as 1.69 per cent, or $1.86, to $111.63, reaching a daily high at 9:57 am. US West Texas Intermediate crude futures increased by more than 3 per cent, or $4.15, to $116.87.Brent crude has seen a gain of over 60 per cent since the conflict began, from $72.48 (February 27) to $119.50 (March 9).These gains in oil commodities came after President Trump displayed fresh aggression towards Iran in recent posts on a social media platform regarding reopening the Strait of...

Mumbai, April 7 The benchmark indices, Sensex and Nifty, declined in early trading on Tuesday as surging crude oil prices, coupled with growing uncertainty about the outcome of the war in West Asia, dampened investor sentiment.Unabated outflows of foreign funds also contributed to the negative trend.The 30-share BSE Sensex plunged by 824.44 points to 73,282.41 in early trading. The 50-share NSE Nifty dropped by 248.95 points to 22,719.30.Among the 30 companies in the Sensex, InterGlobe Aviation, Eternal, Axis Bank, Mahindra & Mahindra, State Bank of India, and Larsen & Toubro were the worst performers.Tech Mahindra, HCL Tech, Bajaj Finance, and Tata Consultancy Services were among the gainers.Brent crude, the global benchmark...

Seoul, April 7 – South Korea has secured an additional 60 million barrels of alternative oil supplies for May, which will replace supplies from the Middle East that have been disrupted due to the effective closure of the Strait of Hormuz, the government said on Tuesday.The country has secured a total of 110 million barrels of oil – 50 million for April and 60 million for May – so far from 17 countries, including Saudi Arabia, the United States, the United Arab Emirates, Brazil, and Canada, said Yang Ghi-wuk, deputy minister for trade, industry, and resource security, in a regular press briefing, according to Yonhap news agency.The amount secured for this month and May each represents about 60 percent and 70 percent, respectively, of...

Mumbai, April 7 The rupee depreciated by 17 paise to 93.07 against the US dollar in early trade on Tuesday, weighed down by continued withdrawal of foreign capital, a strong dollar, and higher crude oil prices amid a volatile geopolitical situation.Forex traders said the USD/INR pair remains vulnerable to any escalation in the US-Iran conflict, which in turn would push crude oil prices further.At the interbank foreign exchange market, the rupee opened at 93.05 against the US dollar, then lost ground to trade at 93.07, registering a fall of 17 paise from its previous close.On Monday, the rupee gained 28 paise to close at 92.90 against the US dollar, following measures by the Reserve Bank to curb speculative activity and dampen...

On World Health Day, Prime Minister Shri Narendra Modi acknowledged and expressed deep gratitude to all individuals who dedicate themselves to the service of others and work toward a healthier planet. Reaffirming the national dedication to fostering a healthier society, Shri Modi called for sustained collective efforts aimed at strengthening healthcare systems and prioritizing the well-being of every citizen.The Prime Minister extended his best wishes for the good health of all citizens, urging everyone to take every possible measure to maintain personal fitness. In this context, he shared a Sanskrit Subhashitam detailing the benefits derived from physical exercise.Through a post on X, the Prime Minister stated, "On World Health...

Mumbai, April 7 – The Indian stock markets on Tuesday experienced sharp losses in the early trading session, with equity benchmarks declining by 1 per cent each amid uncertainty over a possible resolution to the West Asia conflict, ahead of a deadline set by US President Donald Trump to reopen the Strait of Hormuz.The Sensex opened 372 points or 0.50 per cent lower at 73,734, while the Nifty began the session at 22,838.Later in the early trading, the 30-scrip basket declined as much as 1.11 per cent or 824.44 points, hitting an intraday low of 73,282, while the 50-share index plummeted by 1 per cent or 248.95 points to 22,719.30, an intraday low amid selling pressure in all sectors.Sector-wise, financial, auto, real estate, and...

Seoul, April 7 Samsung Electronics estimated its first-quarter operating profit to have exceeded 50 trillion won ($33.1 billion) for the first time, driven by strong demand for premium memory chips from the artificial intelligence (AI) industry.The South Korean tech giant projected an operating profit of 57.2 trillion won for the January-March period, surging from 6.61 trillion won a year earlier, according to earnings guidance released by Samsung Electronics.The operating profit was 36.7 percent higher than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.Samsung Electronics' operating profit for all of 2025 was 43.6 trillion won.In the fourth quarter of 2025, Samsung...

Seoul, April 7 – LG Electronics estimated on Tuesday that its first-quarter operating profit would increase by 33 percent compared to the same period last year, driven by strong performance in its core home appliance business.Operating profit for the January-March period reached 1.67 trillion won (US$1.1 billion), compared to 1.25 trillion won a year earlier, the company said in a regulatory filing.Sales rose 4.4 percent to 23.73 trillion won, marking a record high for a first quarter.Net profit data was not available. The company will release its final earnings report later this month.In the fourth quarter, LG Electronics posted an operating loss of 109 billion won, mainly due to weak market demand and one-off costs related to...

Seoul, April 7 – Downside risks to the South Korean economy are increasing amid the prolonged conflict in the Middle East, as rising global oil prices and supply chain disruptions could have broader negative impacts on prices, consumption, and exports, a state-run think tank said on Tuesday."The economy, which had shown a gradual recovery, is now facing heightened downside risks due to surging oil prices and growing global supply chain uncertainties stemming from the conflict in the Middle East," the Korea Development Institute (KDI) said in its monthly economic assessment.The KDI first raised the possibility of downside risks from the geopolitical crisis early last month and has now issued a more explicit warning, reports Yonhap...

New Delhi, April 7 – Multiple reports on Tuesday said that Air India Chief Executive Officer (CEO) Campbell Wilson has resigned before the end of his term. The airline had not yet issued an official statement on this development.Wilson is currently serving his notice period, according to reports.The Tata Group airline has not made any public statement yet. A query sent to the airline was not immediately answered.It is also unclear if the company has found a replacement. The board had been looking for a new CEO to replace Wilson since last year.The Tata Group started looking for a new Chief Executive Officer to head Air India as the airline is going through a turbulent phase following the Ahmedabad plane crash and has not been...

New Delhi, April 6 Several companies, including Vedanta and Hindustan Zinc Limited, are likely to participate in a pre-bid conference for the Rs 7,280-crore scheme to promote the manufacturing of sintered rare earth permanent magnets, announced by the Heavy Industries Ministry on Tuesday, sources said.The government had invited bids on March 20 to set up manufacturing facilities for 6,000 metric tonnes per annum (MTPA) of magnets under the scheme.The heavy industries ministry had issued a request for proposal (RFP) to select beneficiaries for establishing integrated sintered NdFeB rare earth permanent magnet manufacturing units.The pre-bid conference will be held on April 7, while the bidding deadline is May 28. Technical bids...