Business

New Delhi, April 2 The Income Tax Department launched a new website called ‘Kar Saathi’ on Thursday, aimed at simplifying and making tax-related processes more user-friendly.The department stated that the platform brings all direct tax information under one roof and is designed to be easier to navigate and faster to use.Announcing the launch on X, Income Tax India shared that the new website will help taxpayers access all information in one place, while introducing ‘Kar Saathi’, an AI-powered companion to guide users through their tax-related queries and processes.“The new Income Tax website is here. It’s simpler to navigate and faster to use,” the department said.“One place to access all Income Tax related information. Meet Kar...

New Delhi, April 2 GIFT Nifty recorded its highest-ever monthly turnover of $129.80 billion in March, surpassing its previous record of $106.22 billion set in October 2025, according to the NSE International Exchange (IX) on Thursday.The exchange also stated that monthly trading volume reached a record high of 2.82 million contracts in March, exceeding the earlier peak of 2.17 million contracts set in April 2025.The March milestone is the latest in a series of records for the India-linked derivatives contract.Earlier in February, GIFT Nifty had logged its highest-ever single-day trading volume of 4,57,989 contracts, with a single-day turnover of $23.48 billion – surpassing the previous single-day record of $22.88 billion set on...

New Delhi, April 2 Ceigall India announced on Thursday that its subsidiary, Ceigall Green Energy MP Ltd, has signed 15 power purchase agreements with Madhya Pradesh Power Management Company to supply electricity from a 130-MW solar capacity under the Surya Mitra Krishi Feeder Yojana.According to the agreements, Ceigall Green Energy MP Ltd will implement, operate, and maintain, and supply power from its solar photovoltaic generating stations for 25 years at a rate of ₹2.85 per unit, the company statement said.The Surya Mitra Krishi Feeder Yojana aims to provide reliable daytime power to the agricultural sector through dedicated solar feeders, while also advancing India's clean energy goals.The project has an estimated EPC...

New Delhi, April 2 The government has slightly exceeded its indirect tax collection target for fiscal 2025-26, an official said on Thursday.Total indirect tax collection, which includes customs, excise, and GST, as per the Revised Estimates (RE), was set at over ₹15.52 lakh crore for FY26. This includes ₹2.58 lakh crore from customs duty, ₹3.38 lakh crore from excise duty, and ₹9.58 lakh crore from the Central Goods and Services Tax (CGST).Without revealing specific figures, the official said that revenue from customs duty was 102% of the RE, while for excise duty, it was 101% of the RE. Central GST collection was also 100.8% of the RE for FY26."Overall, GST plus non-GST collection reached 101.2% of the RE," the official said...

New Delhi, April 2 – India’s primary market has started 2026 on a strong note, with initial public offerings (IPOs) raising $2.5 billion in the first quarter, marking a 7.8 per cent increase year-on-year (YoY) and the highest first-quarter performance since 2018, according to a new report released on Thursday.India remained a key global destination for IPOs, accounting for around 8 per cent of worldwide proceeds during the quarter, according to a report by the London Stock Exchange Group (LSEG).The broader equity capital markets (ECM) showed resilience despite global uncertainties weighing on dealmaking sentiment. Business news subscriptionFollow-on offerings contributed a major share, accounting for 58 per cent of total proceeds...

New Delhi, April 2 – The emerging Australia-Canada-India Technology and Innovation (ACITI) partnership has moved from diplomatic rhetoric to actual implementation, with new trilateral commitments and 13 new Canada-India university agreements scaling cooperation in artificial intelligence, quantum research, and semiconductors, a new report has said.The report from One World Outlook said the three countries bring complementary strengths into the partnership, where India brings scale in engineering talent, digital public infrastructure, and applied deployment.Canada adds foundational AI research and trusted institutions, while Australia contributes deep-tech research capacity."In policy terms, the complementary strengths make ACITI...

New Delhi, April 2 A Rajya Sabha member from the Rashtriya Janata Dal (RJD) raised concerns on Thursday about a significant shortfall in the central government's transfer of collection funds to designated funds, citing a Comptroller and Auditor General (CAG) report that revealed lapses spanning five decades.Raising the issue during Zero Hour, RJD MP A D Singh from Bihar said that the CAG has found that as of FY 2023-24, the government failed to transfer as much as Rs 3.69 lakh crore of collection funds to their intended funds – with the earliest lapses dating back to 1974.Singh highlighted several specific instances. The Oil Industry Development Board, he said, had collected Rs 902.40 crore between 1974-75 and 1991-92, with...

New Delhi, April 2 Gold prices plunged by Rs 6,004 to Rs 1.47 lakh per 10 grams in futures trading on Thursday, amid heightened geopolitical tensions in the Middle East that boosted the US dollar and dampened investor sentiment.Breaking a four-day winning streak, the yellow metal for June delivery plunged by Rs 6,004, or 3.91 percent, to Rs 1,47,704 per 10 grams on the Multi Commodity Exchange.Analysts said that precious metal prices declined as the US dollar rebounded following remarks by President Donald Trump indicating a potential escalation in the ongoing conflict with Iran.Gold prices declined on Thursday, ending a four-day gain, as the US dollar rebounded after President Donald Trump warned that the military campaign in...

New Delhi, April 2 Agri-warehousing company Sohan Lal Commodity Management (SLCM) has filed preliminary papers with markets regulator Sebi through the confidential route for an Initial Public Offering (IPO). Business news subscriptionIn a public notice on Thursday, SLCM said it has filed "the pre-filed draft red herring prospectus with Sebi and the stock exchanges...in relation to the proposed initial public offering of its equity shares on the main-board of the stock exchanges".The company, which focuses on technology-driven agricultural logistics, has opted for the confidential pre-filing route, which allows the company to engage with the Securities and Exchange Board of India (Sebi) for initial feedback on its draft document...

New Delhi, April 2 Employees in India are reporting significantly higher exposure to workplace disruption than the global average, while also demonstrating a stronger push toward upskilling and skills validation, according to the latest Human Progress Report by Educational Testing Services (ETS).Princeton-based ETS, which is known for conducting crucial exams like TOEFL and GRE, conducted the study, which found how the Indian workforce is navigating rapid shifts in technology, job responsibilities, and performance expectations, as professionals increasingly link career stability to their ability to continuously build and demonstrate relevant skills.According to the report, 86 per cent of workers in India experienced major workplace...

New Delhi, April 2 Core4 Engineers, a company based in Mysuru and specializing in EPCC (Engineering, Procurement, Construction, and Commissioning), has filed its draft papers with the BSE's SME platform to raise funds through an initial public offering (IPO).According to the Draft Red Herring Prospectus (DRHP) filed on March 29, the IPO involves the issuance of up to 58.94 lakh equity shares with a face value of Rs 10 each.The net proceeds from the IPO will be used to fund capital expenditure for acquiring a property consisting of land and an existing building, which will be used to establish and operate a new manufacturing unit and corporate office.The company will also use the funds to meet its incremental working capital...

New Delhi, April 2 Foreign investors were cautious about investing in Indian real estate during January-March, amidst the West Asia conflict, as their investments plunged by 75 per cent to USD 400 million compared to the previous quarter, according to Colliers.Real estate consultant Colliers India expects foreign investors to remain cautious throughout this year due to global economic uncertainties.The consultant's data showed that total institutional investments in real estate fell drastically by 61 per cent to USD 1.6 billion in January-March from USD 4.2 billion in the preceding October-December quarter of 2025.Of this, domestic investors invested USD 1.2 billion while foreign players invested just USD 0.4 billion during the...

New Delhi, April 2 India's systemic credit growth stood at 13.8 per cent (as of March 15), supported by liquidity buffers and a consumption-led recovery after GST cuts, a report said on Thursday.The report from Motilal Oswal Financial Services said that banks have room to further expand their credit-to-deposit (CD) ratios as deposit growth remained stable at 10.8 per cent while the CD ratio climbed to 83 per cent with faster credit growth."With competition for deposits remaining intense, banks continue to face challenges in mobilizing low-cost deposits. We expect term deposit rates to remain sticky, given the continued pressure on low-cost deposit mobilization," the report predicted.The brokerage found the residual benefits from...

Mumbai, April 2 Foreign portfolio investors have withdrawn ₹17,689 crore of their investments in Fully Accessible Route (FAR) government securities since the beginning of the conflict in the Middle East, reflecting heightened risk aversion among global investors and growing concerns over inflationary pressures linked to surging crude oil prices.According to data from the Clearing Corporation of India (CCIL), FPI investment in FAR government securities declined to ₹3,13,318.661 crore as of April 1, from ₹3,31,007.648 crore as of February 27, indicating a steady unwinding of positions by overseas investors in recent weeks.Market participants said the outflows coincided with a sharp rise in domestic bond yields, particularly after...

New Delhi, April 2 – The government's calibrated 8.5 per cent increase in aviation turbine fuel (ATF) prices for domestic airlines may offer short-term relief to oil marketing companies (OMCs), according to analysts.Analysts at global brokerage firm Nomura estimate that state-owned fuel retailers continue to suffer significant losses on ATF sales amid a war-driven surge in global oil prices.At current prices, the brokerage estimates that OMCs are losing around ₹64 per litre on domestic ATF sales, implying a marketing loss of approximately $109 per barrel.Based on prevailing prices, the brokerage pegs annual ATF losses at ₹23,600 crore for Indian Oil Corporation, ₹9,500 crore for Bharat Petroleum Corporation, and ₹5,300 crore for...

New Delhi, April 2 Zinc prices fell by Rs 2.80 to Rs 322.70 per kg in futures trading on Thursday, as speculators reduced their exposure, following negative signals from the spot market.On the Multi Commodity Exchange, zinc contracts for May delivery decreased by Rs 2.80, or 0.86 percent, to Rs 322.70 per kilogram in a trading volume of 29 lots.Analysts said that the reduction in positions by participants, due to weakened demand from consuming industries in the physical market, mainly influenced zinc prices.

New Delhi, April 2 Aluminium prices saw a slight decrease of 20 paise to Rs 355.65 per kg in futures trading on Thursday, as participants reduced their positions in response to a weak trend in spot markets.On the Multi Commodity Exchange, aluminium for delivery in May fell by Rs 20 paise or 0.06 percent to Rs 355.65 per kg in 35 lots.Analysts said the reduction in positions by participants, primarily due to easing demand from consuming industries, kept aluminium prices lower.

Seoul, April 2 – South Korea has secured approximately 50 million barrels of alternative oil supplies for this month to replace supplies from the Middle East, which have been disrupted due to the effective closure of the Strait of Hormuz, government officials said on Thursday, pledging continued efforts to stably manage energy supplies.The government and oil refineries are working hard to secure alternative oil supplies from different countries, said Yang Ghi-wuk, deputy minister for trade, industry, and resource security, in a regular briefing on energy supply, noting that Seoul has been reaching out to Saudi Arabia, Oman, Kazakhstan, the United States, and other countries, according to reports from Yonhap news agency.Yang stated...

Powerica Ltd Shares List at Discount, Make Weak Market Debut Stock Lists Below Issue Price on NSE and BSE New Delhi, April 2: Shares of Powerica Ltd, a power solutions provider, made a subdued entry into the stock market on Thursday, listing at a discount of over 7 per cent compared to its issue price of Rs 395.On the NSE, the stock debuted at Rs 366, reflecting a decline of 7.34 per cent from the issue price. On the BSE, it opened at Rs 375, marking a fall of 5.06 per cent.The company’s market capitalisation stood at Rs 4,684.95 crore on the NSE following the listing.Weak Market Sentiment Weighs on Listing The listing came amid a broader market downturn, with benchmark indices trading sharply lower. The BSE Sensex dropped...

Gold and Silver Prices Drop Up to 5.6% as Middle East Signals Disappoint Markets Precious Metals See Sharp Decline Amid Geopolitical Uncertainty Mumbai, April 2: Gold and silver prices witnessed a sharp decline of up to 5.6 per cent on Thursday after remarks by US President Donald Trump on the ongoing Middle East conflict failed to deliver clear signals of an imminent resolution, dampening investor sentiment.The lack of a definitive ceasefire announcement led to profit booking in precious metals, reversing earlier gains.MCX Gold and Silver Futures Slip Significantly On the Multi Commodity Exchange (MCX), gold futures for June 5 delivery dropped as much as 2.31 per cent, or Rs 3,563, hitting an intraday low of Rs 1,50,145 around...