Business

New Delhi, April 2 Silver prices plummeted by Rs 9,000 to Rs 2.37 lakh per kilogram in the national capital on Thursday, while gold declined by Rs 3,500 to Rs 1.51 lakh per 10 grams amid a bearish sentiment in the domestic market.According to the All India Sarafa Association, the white metal depreciated by Rs 9,000, or 3.66 per cent, to Rs 2,37,000 (inclusive of all taxes) from Thursday's closing level of Rs 2,46,000 per kg.Gold of 99.9 per cent purity also declined by Rs 3,500, or 2.26 per cent, to Rs 1,51,500 per 10 grams (inclusive of all taxes)."Precious metals declined on Thursday after US President Donald Trump's much-anticipated address provided limited clarity on resolving the conflict in West Asia," said Saumil Gandhi...

New Delhi, April 2 India's small business credit ecosystem maintained stable momentum in the December 2025 quarter, with total credit exposure rising 14.9 per cent year-on-year to ₹47.8 lakh crore, a report showed on Thursday.The joint analysis by CRIF and SIDBI highlighted that sole proprietors continued to dominate the small business lending space, accounting for nearly 80 per cent of the total outstanding portfolio.Specifically, sole proprietors accounted for 62.5 per cent of active loans and 73 per cent of total borrowers.Overall origination value grew 13.3 per cent year-on-year between December 2024 and December 2025, with sole proprietor originations rising 15 per cent, supported by higher participation by women borrowers...

New Delhi, April 2 India's largest iron ore producer and miner, NMDC, achieved a production of 53.15 million tonnes (MT) of iron ore in the fiscal year 2026, becoming the first company in India's mining history to surpass the 50 MT annual production mark, the government said on Thursday.The company produced 5.35 MT and sold 5.90 MT of iron ore in March 2026, marking exceptional growth of 51 per cent and 40 per cent, respectively, over the previous year, according to an official statement.The total production during the fiscal year grew by 21 per cent year-on-year, reaching 50.23 MT, with a 13 per cent increase, marking its best performance since inception.This achievement symbolizes the growing strength of India's mineral sector...

New Delhi, Apr 2 UGRO Capital, a data-tech lender focused on MSMEs, has said that members of the Patni family and their associates have collectively increased their stake in the company to over 5 per cent.Zodiac Wealth Advisors LLP, the Patni group’s investment vehicle, along with 22 other entities comprising individual family members, trusts, and holding vehicles, collectively holds 79,52,860 shares, or 5.02 per cent of UGRO Capital’s paid-up equity, the company said in a regulatory filing.The acquisition, made entirely through open market purchases using own funds, crossed the 5 per cent threshold on February 9, 2026, it said.It further said that the "persons acting in concert" (PAC) Group comprises public shareholders with no...

New Delhi, April 2: China's official economic growth figures are inaccurate, and the country's economy is facing a major threat due to its growing bad debt and a rapidly aging population, a new report has said.The Japanese news site, Nippon.com, cited estimates from the US think tank, Rhodium Group, which suggests that China's true economic growth is closer to 2.5–3.0 per cent, rather than the Chinese government's official GDP growth figures of 5 per cent for 2025.It also cited some observers who believe that the country is currently experiencing essentially zero growth."Two major obstacles stand in the way of China's economic future: massive amounts of bad debt stemming from a bursting bubble, and an inverted population pyramid...

New Delhi, April 2 State-owned CIL has reported its first sales growth in six months for March, reflecting a build-up of coal stocks before peak summer demand amid gas shortages due to the West Asia conflict.Coal India (CIL) accounts for over 80 per cent of domestic coal production.The coal sales by CIL increased by 0.7 per cent to 69.5 million tonnes (MT) in March, according to provisional data from the coal giant.Coal sales declined by 1.5 per cent in February, 4.7 per cent in January, 5.2 per cent in December, 0.3 per cent in November, 5.9 per cent in October, and 1.1 per cent in September, CIL said.In August, coal sales grew by 7.6 per cent, it added.The PSU contributes to 75 per cent of total coal-based power generation...

New Delhi, April 2 The government has directed oil refineries to divert a portion of the feedstock normally used for producing cooking gas (LPG) to industries affected by the ongoing petrochemical shortage, which spans sectors from packaging to condom manufacturing.The Ministry of Petroleum and Natural Gas, on April 1, directed refineries to allocate a portion of propylene to the petrochemical industry, which has been severely affected, as most feedstock has been diverted for cooking gas (LPG) production.At an inter-ministerial briefing on the fallout of developments in West Asia, Sujata Sharma, Joint Secretary in the Ministry of Petroleum and Natural Gas, said following the disruption in India's LPG supplies from the Middle East...

Mumbai, April 2 Mahindra & Mahindra announced on Friday that it will increase the prices of its non-electric SUVs and commercial vehicles by up to 2.5 per cent from April 6.The company attributed the latest price increase to a combination of rising costs."Mahindra & Mahindra announces an increase in prices of up to 2.5 per cent for its ICE (internal combustion engine) SUV and CV range, with an average increase of 1.6 per cent across the portfolio," the company said in a statement.This price increase will be effective from April 6, it said.For the recently introduced XUV700, the price increase is expected to take effect after the first 40,000 price-protected bookings are delivered, the company said.Various automakers, including...

New Delhi, April 2 State-owned CIL subsidiaries Bharat Coking Coal Ltd (BCCL), Central Coalfields Ltd (CCL), Western Coalfields Ltd (WCL), and Mahanadi Coalfields Ltd (MCL) reported a decline in coal production in the recently concluded 2025-26 financial year.This decline in production comes at a time when there is a sharp increase in the country's reliance on coal, triggered by the West Asia crisis, which has tightened global gas and LNG supplies and pushed up the prices of imported coal.BCCL's production dropped by 12.3 per cent, CCL by 6.1, WCL by 8.8 per cent, and MCL by 3 per cent, according to provisional data from Coal India Ltd (CIL).South Eastern Coalfields Ltd (SECL) and Northern Coalfields Ltd (NCL) are the two Coal...

New Delhi, April 2 In a significant regulatory move, the Securities and Exchange Board of India on Thursday proposed bringing back open market share buybacks through stock exchanges, following recent changes in the tax framework.In a consultation paper, the market regulator suggested that companies should once again be allowed to repurchase their shares directly from the secondary market as an additional option under existing buyback rules.This method had been discontinued earlier due to tax-related concerns.SEBI said the recent amendments in the Income Tax Act have removed the earlier imbalance in taxation.Under the revised rules, buyback proceeds will now be taxed as capital gains in the hands of shareholders.This aligns the...

New Delhi, April 2 India has secured the "best" US deal among competitors, and the country is in a "sweet spot" with the trade pact, Commerce and Industry Minister Piyush Goyal said on Thursday.Speaking to the media at the 14th Ministerial Conference of the World Trade Organization (WTO), held recently in Cameroon, the minister said India should receive "preferential market access" in the bilateral trade pact with the United States.Preferential market access refers to exemptions from tariffs on specific product lines.India finalized the interim trade deal with the US on February 2, which sharply lowered the tariffs levied on the country from 50 per cent to 18 per cent.The tariffs were later ruled "illegal" by the nine-judge US...

Mumbai, April 2 India's sales volume of refined sunflower oil is expected to decline by about 10 per cent in the current fiscal due to supply-chain disruptions caused by the Middle East conflict and rising prices, which are likely to drive consumers towards cheaper alternatives, a report said on Thursday.The sales volume of Indian refined sunflower oil is poised to decline by 10 per cent in the current fiscal, due to twin headwinds that will dampen demand, Crisil Ratings said in a report.Firstly, supply-chain disruptions caused by the Middle East conflict, and secondly, higher prices resulting from the pass-through of increasing logistics costs, will likely lead consumers to switch to cheaper substitutes such as rice bran and...

New Delhi, April 2 The government has announced measures to help exporters mitigate the impact of the West Asia crisis, and more decisions are being considered, Commerce and Industry Minister Piyush Goyal said on Thursday.The US-Israel attack launched on Iran in February has disrupted shipping in international waters. It has also increased air freight and insurance costs for traders.To assist exporters, the government has announced certain measures through a relief package, and "more decisions are being considered at different levels and ministries," he told reporters here.As part of the relief measures, the government is looking at providing some freight subsidies.Last month, the government launched a Rs 497 crore RELIEF...

New Delhi, April 2 Shares of Sai Parenteral, a diversified pharmaceutical formulation company, closed on Thursday with a premium of nearly 4 per cent against the issue price of Rs 392.The stock made its market debut at Rs 405, up 3.32 per cent from the issue price on the BSE. During the day, it rose 6.17 per cent to hit an intra-day high of Rs 416.20. Later, it ended at Rs 406.40, up 3.67 per cent on the exchange.On the NSE, shares of Sai Parenteral started trading at Rs 400, up 2.04 per cent. In the intra-day session, it appreciated 6.12 per cent to hit a high of Rs 416. Finally, it settled at Rs 405 apiece, up 3.32 per cent on the exchange.At the end of the session, the company's market valuation stood at Rs 1,795.44 crore on...

New Delhi, April 2 Transactions through the Unified Payments Interface (UPI) reached a record high of 22.64 billion in terms of volume in March."UPI achieves 22.64 billion transaction count in March'26! Thank you, India, for embracing digital payments and driving this revolution forward. Let's continue the journey of transforming the way we transact!," the Department of Financial Services said in a post on X.In terms of volume, 22.64 billion transactions were conducted during the month, compared to 18.3 billion a year ago, representing a 24% growth.The UPI transaction in terms of volume was 20.39 billion recorded in February.UPI combines ease of use with strong security while following the RBI's two-factor authentication rule...

Mumbai, April 2 Asset management firm Franklin Templeton has witnessed higher Systematic Investment Plan (SIP) flows in March compared to February, despite the negative impact on investor sentiment due to the West Asia conflict, a top company official said on Thursday.While there is widespread concern about how long the conflict will last and the subsequent recovery, the company is taking advantage of the dip in share prices to buy shares, rather than preferring to hold cash across its schemes, Franklin Templeton Asset Management India president Avinash Satwalekar told reporters here.SIP flows for the industry are expected to decline further in March from February's ₹29,845 crore, as this has been the historical experience where any...

New Delhi, April 2 The reimposed windfall export taxes on diesel and aviation turbine fuel (ATF) will not apply to Reliance Industries Ltd's SEZ refinery due to court rulings, a senior official said on Thursday.Effective from March 26, the government revised fuel levies, reintroducing export duties of ₹21.50 per litre on diesel and ₹29.50 per litre on ATF, while keeping petrol exports exempt. This move coincided with a ₹10 per litre cut in excise duty on petrol and diesel.Initially, it was unclear whether exports from Reliance's special economic zone (SEZ) refinery—one of the largest contributors to India's refined product exports—would retain exemptions similar to those under the 2022 windfall tax regime."According to court...

New Delhi, April 2 – The Indian domestic automotive metal forming market is projected to nearly double to $90-95 billion by FY30, growing at around 12% annually, as global supply chain realignments drive value concentration toward process-led manufacturers, a report has said.According to Avendus Capital analysis, India's auto component industry – including casting, forging, stamping, and machining – reached a size of $80 billion in FY25 and turned into a net exporter during the year, with exports reaching approximately $23 billion.This transition reflects not just scale expansion but also a structural upgrade in manufacturing complexity, quality standards, and global integration, it said.The report also highlighted a deeper shift...

New Delhi, April 2 Commerce and Industry Minister Piyush Goyal said on Thursday that India is seeking preferential market access for its products in the US and asserted that the country's relations with America are "very robust" with a deep strategic partnership across technology, defence, trade, and investment.He said that India's trade agreement with the US is "the best" compared to its competitor countries."Our relations are very robust. We have a deep strategic partnership on several aspects, including technology, defence, trade, and investment, and our approach is that India should get preferential market access," Goyal told reporters here.He said that the country is in a "very favorable position" to promote trade with the...

New Delhi, April 2 The government on Thursday exempted the import of critical petrochemical products from customs duty for three months until June 30, providing relief to sectors such as pharmaceuticals, chemicals, and textiles, and ensuring supply stability amid the ongoing West Asia crisis.This "temporary and targeted relief" will cost the exchequer approximately Rs 1,800 crore, but will help ensure price stability, continuity in production and supply chain, CBIC Member (Tax Policy), Sanjay Mangal told reporters at a press briefing.In a statement, the finance ministry said, in light of the ongoing conflict in West Asia and the consequent disruptions in global supply chains, the government has decided to provide full customs duty...