Business

Jaipur, April 5 Amid heightened geopolitical tensions and uncertainty in global oil markets, Oil India Ltd has significantly ramped up crude production from Rajasthan's Thar desert, achieving a record output of 1,202 barrels per day from the Jodhpur sandstone formation, officials said.The state-run company has increased production by around 70 per cent compared to last year's 705 barrels per day, marking a major milestone in efforts to boost domestic output and strengthen energy security.Officials said that the crude oil produced in the Baghewala field in Jaisalmer is transported by tankers to Oil and Natural Gas Corporation (ONGC) facilities in Mehsana, Gujarat, from where it is sent via pipeline to the Koyali refinery operated by...

New Delhi, April 5 Leading FMCG makers reported resilient growth in the March quarter of FY26, amid a stable demand environment, posting healthy revenue expansion, even though geopolitical tensions in the Middle East markets remained a concern.The makers, such as Marico, Dabur, and AWL Agri Business (formerly Adani Wilmar), reported growth in both volume and value, driven by pricing actions, category momentum, and resilient domestic consumption, and growth from international markets, except the conflict area.The makers expect margins to improve as inflation eases; however, they remain cautiously optimistic about the coming quarters. They expect the trend of domestic demand recovery to continue, aided by stable macroeconomic...

Mumbai, April 5 – Indian stock markets ended their sixth consecutive week in the red, with benchmark indices slipping by nearly 0.5 per cent amid heightened volatility triggered by a mix of global uncertainties and domestic concerns.Investors are now bracing for another eventful week, where the Reserve Bank of India's policy decision, escalating geopolitical tensions, and surging crude oil prices are expected to dictate market direction.The week, shortened due to holidays, began on a weak note, as rising tensions between the United States and Iran, coupled with a sharp spike in crude oil prices, dampened investor sentiment and led to broad-based selling.However, markets staged a recovery in the middle of the week as fears of an...

New Delhi, April 5 As many as 38 companies, including SBI Funds Management and Manipal Health Enterprises, filed preliminary IPO papers with Sebi in March 2026, signaling improving issuer sentiment even as regulatory timelines contributed to the surge.This marks a sharp jump from 22 filings in March 2025 and 16 in March 2024, according to data from the Securities and Exchange Board of India (Sebi), indicating a stronger pipeline of public issues.The momentum is expected to continue, with several high-profile companies, including the National Stock Exchange (NSE) and Reliance Industries' telecom arm Jio, preparing to submit their draft papers in the coming weeks, according to merchant banking sources.In addition, Singapore-based...

New Delhi, April 5 State-owned Hindustan Copper Ltd is pursuing "Navratna" status, with its Chairman and Managing Director Sanjiv Kumar Singh emphasizing this milestone as a testament to the company's improved operations, organizational excellence, and strategic growth.This comes amid Hindustan Copper's aggressive expansion plans in mining operations. It operates the country's sole vertically integrated refined copper facility, handling exploration, mining, beneficiation, smelting, refining, and casting operations."We also remain steadfast in our pursuit of attaining Navratna status, which reflects not only our enhanced operational performance but also organizational excellence and strategic maturity. This aspiration continues to...

New Delhi, April 5 State-owned Coal India Ltd plans to offer 25.62 million tonnes of coal through online auction this month, a move expected to mitigate the impact of energy supply shocks on industries amid the West Asia crisis.Disruptions in the supply of LNG, LPG, and crude oil from the Middle East have increased demand for coal, driving up its import prices.Coal India had offered 32.532 million tonnes of coal through e-auction in March, compared to 20.5 million tonnes in February this year.The state-run coal producer plans to offer coal through the Single Window Mode Agnostic (SWMA) auction. The SWMA auction is a unified, simplified e-auction system launched in 2022 to consolidate multiple existing auction windows (Spot...

New Delhi, April 5 Suzuki Motorcycle India aims to increase its contribution to the global two-wheeler sales of its parent company, Suzuki Motor Corporation, to over 50 per cent, with its new manufacturing facility expected to enhance both domestic and export volumes, according to company Managing Director Kenichi Umeda.In 2025-26, Suzuki Motorcycle India Pvt Ltd (SMIPL) achieved its highest-ever annual sales of 14,39,415 units, registering a growth of 15 per cent over the 12,56,155 units sold in FY25.While its domestic sales surged 12 per cent to 11,74,874 units in FY26 from 10,45,662 units in the previous financial year, exports stood at 2,64,541 units compared to 2,10,493 units in FY25, representing a 26 per cent growth."As...

New Delhi, April 5 Foreign investors continued to exit Indian equities, withdrawing ₹19,837 crore (USD 2.1 billion) in the first two trading sessions of April, weighed down by the West Asia conflict, rising crude oil prices, and persistent rupee depreciation.This followed a record withdrawal of ₹1.17 lakh crore (about USD 12.7 billion) from domestic equities in March, making it the worst monthly outflow. Before this, FPIs pumped in ₹22,615 crore in February, the highest monthly inflow in 17 months.With the latest withdrawals, total Foreign Portfolio Investors (FPIs) outflow has reached ₹1.5 lakh crore so far in 2026, according to NSDL data.According to the data, FPIs continued to withdraw money in April, offloading equities worth...

Seoul, April 5. Executives from Samsung Electronics and French artificial intelligence (AI) startup Mistral AI discussed potential cooperation in the AI memory sector, industry sources said on Sunday.Arthur Mensch, co-founder and chief executive officer of Mistral AI, met Jeon Young-hyun, head of Samsung Electronics' device solutions division, at the company's Hwaseong campus on Thursday to explore collaboration on AI chip supply chains and related technologies, the sources said.Mensch was in South Korea last week on the occasion of French President Emmanuel Macron's visit to Seoul for talks with President Lee Jae Myung, reports Yonhap news agency.Mistral AI, often described as Europe's counterpart to OpenAI, is seeking to secure...

Mumbai, April 5 – According to analysts, the Indian stock markets appear to be transitioning into a consolidation phase with high volatility and low visibility.Global developments continued to dictate market direction, particularly the evolving US-Iran conflict, which kept crude oil prices volatile and elevated.This, in turn, raised concerns over inflation and fiscal stability for import-dependent economies like India."While domestic flows and technical support are providing stability, global factors such as crude oil prices and geopolitical developments will continue to dictate direction. A cautious and selective approach with a focus on risk management remains prudent in the near term," said Hariprasad K, a SEBI-registered...

New Delhi, April 5 – As the situation in the West Asia continues to evolve, the Reserve Bank of India (RBI) is likely to maintain the status quo at the upcoming monetary policy committee (MPC) meeting next week (April 6-8), according to a report by SBI Research, released on Sunday.As the first policy since the start of the US-Israel and Iran war, the RBI will be particularly cautious in communicating its position.The central bank needs to "simultaneously explore the possibility of conducting Operation Twist," which would increase the yield on short-term instruments while keeping the yield on long-term instruments stable, ensuring that various reference rates remain within the prescribed bands, aligned with the policy rate in a...

Seoul, April 5 – The Lee family, owners of the Samsung Group, are set to complete the payment of approximately 12 trillion won (approximately $8 billion) in inheritance taxes on assets left by the late Chairman Lee Kun-hee later this month, industry sources said on Sunday.These payments, scheduled over five years since 2021, mark the end of one of the largest inheritance tax obligations in South Korean history and are expected to ease financial pressures on the family, potentially accelerating Chairman Lee Jae-yong's push for a "New Samsung" growth strategy.Lee Jae-yong, the late chairman's only son, along with other heirs, has financed the tax burden through a combination of share sales in group affiliates, dividend income, and...

Washington, April 5 The war against Iran has begun to impact Americans, with Amazon announcing a fuel surcharge for its e-commerce deliveries and some airlines raising fees for checked baggage to offset higher fuel costs.The average price of gasoline in the US has increased to USD 4.09 per gallon on Friday, up more than one dollar from just before the war and the highest level since August 2022.The cost of diesel has risen sharply from USD 3.64 per gallon a year ago to USD 5.53 per gallon on Friday, according to data maintained by the American Automobile Association (AAA). Diesel is widely used in farming, construction, and transportation, as well as other industries.E-commerce giant Amazon also said that, starting April 17, it...

New Delhi, April 5 – The Department of Social Justice and Empowerment has achieved its highest-ever expenditure of ₹11,810.82 crore during the financial year 2025-26.This represents an increase of nearly 14 per cent over the expenditure of ₹10,409.00 crore incurred in FY 2024-25, reflecting the Department's strong focus on timely utilization of funds for welfare-oriented schemes, according to the Ministry of Social Justice and Empowerment."During FY 2025-26, the Department has also recorded the highest-ever expenditure on welfare schemes for Scheduled Castes and Other Backward Classes," it said in a statement.The government said it has similarly posted record expenditure in schemes relating to Drug Demand Reduction, welfare of...

New Delhi, April 4 Veteran industrialist Venu Srinivasan, a trustee of Tata Trusts, has resigned from the Bai Hirabai Jamsetji Tata Navsari Charitable Institution, according to sources.Although he cited other business commitments for his resignation from one of the smaller trusts within Tata Trusts, the development followed a challenge from Mehli Mistry, a former trustee of Tata Trusts.Comments from Srinivasan and Tata Trusts could not be obtained immediately.Mistry had challenged the appointments of Venu Srinivasan and Vijay Singh to the board of Bai Hirabai Jamsetji Tata Navsari Charitable Institution in a complaint to the Maharashtra Charity Commissioner.He claimed that Srinivasan and Singh do not meet the criteria outlined...

New Delhi, April 4: State-run oil marketing company (OMC) Indian Oil Corporation Ltd (IOCL) assured on Saturday that supplies of petrol, diesel, and LPG remain adequate across the country, even as the Centre steps up efforts to minimize any disruption to fuel supply chains amid global uncertainties.The PSU firm said it is closely monitoring its nationwide distribution network and taking necessary steps to prevent hoarding and black marketing of LPG cylinders.In a public advisory shared on X, the company urged consumers not to resort to panic buying or place unnecessary LPG bookings, stressing that supply lines remain stable despite concerns arising from tensions in West Asia and disruptions around key shipping routes such as the...

New Delhi, April 4 IDBI Bank, controlled by LIC, reported a 16 per cent increase in loan growth to ₹2.53 lakh crore for the quarter ended March 2025 on Saturday.The bank's total advances stood at ₹2.18 lakh crore as of March 31, 2025, IDBI Bank said in a regulatory filing.The lender reported a 12 per cent rise in total deposits to ₹3.46 lakh crore from ₹3.1 lakh crore at the end of the preceding financial year's fourth quarter.The bank's total business increased by 14 per cent to ₹6 lakh crore compared to ₹5.28 lakh crore as of March 31, 2025.Meanwhile, Kotak Mahindra Bank also reported higher credit growth compared to deposit expansion. The bank registered a 16.2 per cent rise in advances to ₹4.95 lakh crore from ₹4.26 lakh...

New Delhi, April 4: The share of micro, small, and medium enterprises (MSMEs) in India's GDP will rise to 40 per cent by 2030, from about 30 per cent currently, a report said on Saturday.The report from B2K Analytics stated that India's GDP is projected to reach Rs 537.96 trillion by 2030 if the current growth trend continues, which would increase the contribution of the MSME sector to approximately 40 per cent, or around Rs 215.18 trillion.The report also estimated that the total funding requirement for the MSME sector would be Rs 162.92 trillion by 2030.Out of the total funding requirement, formal credit availability is projected at Rs 78.02 trillion, comprising Rs 56.98 trillion from priority sector lending, Rs 18.57 trillion...

New Delhi, April 4: Europe's fragile economic outlook amid geopolitical tensions could have ripple effects on India's trade and sectoral competitiveness, with India potentially benefiting from a free trade agreement (FTA) with Europe, a new report has said.The report, from EY, noted that India could gain from deeper trade engagement with Europe and increasing competitiveness in sectors such as textiles.Changes in tariff and trade policies by the United States, as well as the West Asian conflict, will act as headwinds for Europe's economy, potentially affecting global trade flows and competition with countries like India.The report highlighted that the recently announced EU-India Free Trade Agreement (FTA) could have mixed sectoral...

New Delhi, April 4 The government on Saturday urged citizens to avoid panic buying of petrol, diesel, and LPG, saying fuel supplies remain adequate despite disruptions linked to the closure of the Strait of Hormuz.The Ministry of Petroleum and Natural Gas said the government is taking proactive steps to ensure the uninterrupted availability of petroleum products and cooking gas, while advising people to rely only on official information and conserve energy.The government has prioritized domestic LPG and piped natural gas (PNG) supplies, particularly for households, hospitals, and essential services, and has implemented measures to boost refinery output and manage demand, including extending LPG refill intervals.Authorities have...