Business

Mumbai, April 3 – Indian equity markets closed lower for the sixth consecutive week amid escalating geopolitical tensions in West Asia and sharp currency fluctuations, with both key indices ending in the red during a shortened four-day trading week. Business news subscriptionThe Sensex closed at 73,319.55 on Thursday, down 263.67 points or 0.35 per cent, compared to the previous Friday's close. The Nifty 50 settled at 22,713.10, a decline of 106.50 points or 0.46 per cent on a week-on-week basis.In the final trading session of the week, both benchmarks plunged in early trading – the 50-scrip basket shedding over 500 points and the Sensex declining more than 1,500 points – after US President Donald Trump warned of possible intense...

South Korean Stocks Surge Nearly 2.5% as Hopes Rise Over Strait of Hormuz Reopening KOSPI Rebounds Strongly on Positive Geopolitical Signals Seoul, April 3: South Korean equities opened sharply higher on Friday, with the benchmark Korea Composite Stock Price Index (KOSPI) climbing nearly 2.5 percent in early trade. The rally comes amid reports that Iran is working with Oman on a protocol to monitor traffic through the Strait of Hormuz, raising expectations of a potential reopening of the key global shipping route.The KOSPI rose 128.99 points, or 2.46 percent, to reach 5,363.0, according to Yonhap news agency. The index had opened with a stronger gain of 2.7 percent, recovering from a steep decline in the previous session, and...

Gautam Adani Meets UP CM Yogi Adityanath, Reaffirms Investment Commitment Across Key Sectors Adani Group Highlights Role in Uttar Pradesh’s Growth Vision New Delhi, April 3: Gautam Adani, Chairman of the Adani Group, met Uttar Pradesh Chief Minister Yogi Adityanath and underscored the conglomerate’s ongoing and planned investments across multiple sectors in the state, including power, defence, airports, and logistics.Sharing his thoughts after the meeting, Adani described the interaction as significant, pointing to the state’s long-term economic ambitions."Some visions reshape nations. Hearing Chief Minister @myogiadityanath outline the roadmap for Viksit Uttar Pradesh was an unforgettable moment," he said in a post on X.He...

Stock Market Holiday Today: BSE, NSE Shut for Good Friday on April 3 Trading Halted Across All Segments on Indian Exchanges The Indian stock market remains closed today, Friday, April 3, on account of Good Friday, as per the official holiday calendar of the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).This marks the second trading holiday of the week and the first for April. Earlier, markets were shut on March 31 for Mahavir Jayanti.All major segments, including equity, equity derivatives, currency derivatives, NDS RST, tri-party repo, commodity derivatives, and electronic gold receipts, are not operational today.Market Activity to Resume on April 6 Normal trading across exchanges will resume on Monday, April...

Bank Holiday Today: Are Banks Closed on April 3 for Good Friday? Check Full City-Wise List Banks Shut Across Major Cities on Good Friday Banks across most parts of India remain closed today, Friday, April 3, 2026, on account of Good Friday, as per the Reserve Bank of India (RBI) holiday calendar.Public and private sector banks, including SBI, HDFC Bank, PNB, ICICI Bank, and Axis Bank, are not operational in several key cities such as Delhi, Mumbai, Kolkata, Chennai, and Bengaluru.City-Wise List of Bank Closures on April 3 Banking services at physical branches are unavailable in the following cities today:Ahmedabad Aizawl Belapur Bengaluru Bhopal Chennai Dehradun Gangtok Hyderabad Imphal Itanagar Kanpur Kochi Kohima Kolkata Lucknow...

Mumbai, April 2 According to sources, the government on Thursday "put on hold" its earlier directive to airlines to offer at least 60 per cent of seats on a flight without charging any additional fees, effective from April 20.On March 18, the Ministry of Civil Aviation announced that instructions had been issued to the DGCA to direct airlines to allocate a minimum of 60 per cent of seats for selection on any flight free of any additional charges, to ensure fair access for passengers."The matter has been reviewed in light of representations received from the Federation of Indian Airlines and Akasa Air, highlighting the operational and commercial implications of the above provision, including its potential impact on fare structures...

Mumbai, April 2 The TVS Venu Group announced on Thursday that it will acquire PGIM's India asset management business for an undisclosed amount.The Chennai-based conglomerate, which operates in the auto, financial services, and real estate sectors, has entered into definitive agreements to acquire the India asset management business of Prudential Financial, which holds a 100 per cent stake in PGIM India Asset Management and PGIM India Trustees, according to a statement.The completion of the transaction is subject to regulatory approvals and other customary closing conditions.PGIM is a full-service investment manager that offers equity, fixed income, and multi-asset solutions to retail and institutional investors, and managed over...

New Delhi, April 2 The government imposed import restrictions on all forms of gold, silver, and platinum articles on Thursday, a move aimed at preventing the misuse of free trade agreements (FTAs).These restrictions will apply regardless of any prior contract, irrevocable letter of credit, advance payment, shipment status, or any other commitment, the Directorate General of Foreign Trade (DGFT) said in a notification.Accordingly, the benefits of transitional arrangements will not be available."The Import Policy and Policy Condition of items ... covered under Chapter 71 ... is revised ... with immediate effect," it said.The chapter includes natural or cultured pearls, precious or semi-precious stones, precious metals, metals clad...

Chandigarh, April 2 Haryana recorded a 22 per cent growth in gross State GST (post-settlement) revenue in the 2025-26 financial year, the highest among all states, an official spokesperson said on Thursday.The national average growth in SGST revenues stood at 6 per cent during the same period, the spokesperson said.The state's gross SGST collection (post-settlement) rose to Rs 48,289 crore in FY26, up Rs 8,546 crore from the previous financial year.With sustained growth, Haryana improved its rank to sixth in the country in SGST collections in FY26 from ninth in FY25, surpassing states like Telangana, West Bengal, and Rajasthan, the spokesperson added.The number of registered GST taxpayers in the state reached 6,30,818 as of...

Patna, April 2 The commercial taxes department of Bihar recorded revenues worth Rs 43,324 crore in the 2025-26 financial year, achieving 93.17 per cent of the target of Rs 46,500 crore, a senior official said on Thursday.The collection was 4.09 per cent higher than the figure in 2024-25, he said.Secretary-cum-Commissioner of the department, Sanjay Kumar Singh, said it collected Rs 32,801 crore as GST in 2025-26, an increase of 11.67 per cent year-on-year."However, after deducting a central government IGST settlement amount of Rs 724 crore, the net GST revenue came down to Rs 32,077 crore, which still gives us a growth rate of 9.2 per cent," Singh told reporters.He said the 9.2 per cent growth was "outstanding", as it has been...

New Delhi, April 2 India Post Payments Bank (IPPB) opened accounts without verifying mobile numbers and linked the information of multiple customers to the same mobile number, the CAG said in a report tabled in Parliament on Thursday.The Comptroller and Auditor General of India, in the audit, found that there was widespread dormancy and inactivity in IPPB's existing customer accounts."Additionally, accounts were opened without verified mobile numbers, and multiple Customer Information Files were linked to the same mobile number. IPPB's Doorstep Banking services were found to have limited uptake, with many requests delayed, cancelled, or unattended," the report said.According to the report, IPPB has made strides in expanding its...

Mumbai, April 2 The rupee logged one of its steepest single-day gains in many years and closed 152 paise higher at 93.18 against the US dollar on Thursday after the Reserve Bank stepped in with a slew of measures to restrict banks from onshore forward markets.The domestic unit, however, remained under pressure due to the unabated withdrawal of foreign capital, a strengthening dollar, and rising crude oil prices amid a volatile geopolitical situation, forex analysts said.At the interbank foreign exchange, the rupee opened at 94.62 and registered a sharp single-day surge of 188 paise to touch an intra-day high of 92.82 against the greenback. At the end of the session, the rupee was quoted at 93.18 against the dollar, higher by 152...

Mumbai, April 2 The Reserve Bank on Thursday allowed both residents and non-residents to exchange Indian rupee notes at foreign exchange counters in departure halls at international airports, beyond the immigration or customs desk.Previously, such foreign exchange counters were only allowed to buy Indian rupee from non-residents and sell foreign currency to them."Following a review, it has been decided to allow residents (along with non-residents) to exchange Indian rupee notes at foreign exchange counters in the departure halls of international airports located in the duty-free or security hold area, beyond the immigration or customs desk," the Reserve Bank of India (RBI) said in a circular.The Master Direction on Money Changing...

New Delhi, April 2 The infrastructure sector is set to play a central role in sustaining the country's long-term economic growth and achieving the goal of 'Developed India' by 2047, said Rohit Rishi, Managing Director of India Infrastructure Finance Company Ltd (IIFCL), on Thursday.Addressing a meeting of stakeholders here, Rishi highlighted India's resilience in the face of global uncertainties and emphasized the central role of infrastructure in sustaining long-term economic growth.He emphasized the expanding opportunities across transport, urban infrastructure, and clean energy, supported by a strong policy push and a robust pipeline of projects."IIFCL remains committed to supporting India's infrastructure journey by enabling...

New Delhi, April 2 – The Centre has announced a series of relief measures aimed at protecting the Indian industry and consumers from the adverse economic impact of the Iran war, which has disrupted supply chains and affected exports.The Finance Ministry has outlined steps including cuts in customs duties on key raw materials, export incentives, controls on fuel prices, and financial support mechanisms, with a focus on ensuring stability in key sectors.The government has allowed Special Economic Zone (SEZ) units to sell goods in the domestic market at concessional customs duty rates. Previously, such sales attracted full import-equivalent duties, which have now been reduced to approximately 5 to 12.5 per cent to support manufacturing...

New Delhi, April 2 Shares of Basmati rice exporter Amir Chand Jagdish Kumar (Exports) were listed at a discount of more than 17 per cent against the issue price of Rs 212 on Thursday.The stock began trading at Rs 195, down 8.02 per cent on the BSE. Later, it extended its losses by plunging 17.22 per cent to close at Rs 175.50 per share – also its lower circuit limit.On the NSE, it started trading at Rs 200, down 5.66 per cent. Later, the stock slumped 15.09 per cent to settle at Rs 180, also its lower circuit level.At the end of the market session, the company's market capitalization stood at Rs 1,863.93 crore on the NSE.In terms of volume on the exchanges, 3.37 crore equity shares of Amir Chand Jagdish Kumar (Exports) were...

Shimla, April 2 There has been no increase in the prices of petrol and diesel in the state, and the Legislative Assembly has only made provisions to allow for a price increase of up to Rs 5 in the future, if needed, Chief Minister Sukhvinder Singh Sukhu said on Thursday.The Himachal assembly passed the HP Value Added Tax (Amendment) Bill 2006 on March 23, seeking to levy a "cess" on petrol and high-speed diesel up to five rupees per litre for "orphans and widows."Speaking to the media, he said that the entry toll rates for larger vehicles have been reduced, and the entry tax for passenger vehicles entering from other states has been lowered from Rs 130 to Rs 100.Providing relief to the transport sector, the Chief Minister...

Jammu, April 2 The money of depositors in the Jammu and Kashmir State Cooperative Agriculture and Rural Development Bank is safe, Cooperative Minister Javid Ahmad Dar said on Thursday, noting that the process to appoint a liquidator is underway following an alleged embezzlement of Rs 181 crore.The assurance was given by the minister in the Legislative Assembly after BJP legislators rose from their seats during Zero Hour, pressing for a government statement on the issue, which Speaker Abdul Rahim Rather described as “very serious”.“We have already initiated the process to appoint a liquidator. The matter involves various technicalities and pertains to around Rs 181 crore, so it cannot be resolved overnight. I want to assure account...

New Delhi, April 2 Shares of Powerica, a provider of power solutions, closed over 2 per cent lower on Thursday compared to the issue price of Rs 395 in its debut trade.The stock listed at Rs 366, falling 7.34 per cent from the issue price on the NSE. During the day, it reached a high of Rs 397 and a low of Rs 365.10. The stock later closed at Rs 385 per share, down 2.53 per cent.On the BSE, it debuted at Rs 375, down 5.06 per cent. The stock settled at Rs 390, down 1.27 per cent.At the end of the market session, the company's market capitalization stood at Rs 4,935.52 crore on the BSE.In terms of volume on the exchanges, 1.61 crore equity shares of Powerica Ltd were traded on the NSE, while 3.02 lakh shares were traded on the...

New Delhi, April 2 The Reserve Bank of India (RBI) issued an order on February 20 this year under Section 15 of the Foreign Exchange Management Act (FEMA), 1999, in the case involving Rs 4.1 crore against Vikram Mundlur, which has resulted in the termination of adjudication proceedings against him for violations of the provisions of FEMA, 1999.The order was passed by the RBI after the Enforcement Directorate (ED) issued a "no objection" statement, as stated in an official statement released on Thursday.Accordingly, based on the "no objection" issued by the ED, the RBI has issued a compounding order dated February 20, 2026, for a one-time payment of Rs 3,60,495."This has resulted in the termination of adjudication proceedings...