Business

Chandigarh, April 1 Punjab Industries Minister Sanjeev Arora said on Wednesday that the steel manufacturing company, Jogindra Group, will invest Rs 1,100 crore in its expansion plans in the state.Arora claimed that this investment reflects the growing confidence of the industry in Punjab's progressive policies and business-friendly environment.The minister said the expansion includes an investment of Rs 700 crore in the steel sector, primarily through Jogindra Castings and Vardhman Adarsh, along with an investment of Rs 400 crore in renewable energy through Jogindra Green India."The Jogindra Group's turnover is projected to increase from Rs 3,000 crore to Rs 5,000 crore, while the number of employees will rise from 1,800 to 3,000...

New Delhi, April 1 – The Central Board of Direct Taxes (CBDT) has amended income tax rules to provide clarity on the applicability of the General Anti-Avoidance Rules (GAAR), in a move aimed at reducing ambiguity around tax avoidance provisions.In its notification, the CBDT stated that GAAR will not apply to income arising from the transfer of investments made before April 1, 2017. The amendment will come into effect from April 1, 2026.The clarification is expected to provide certainty to investors, particularly in relation to legacy investments, by clearly defining the scope of GAAR provisions.This development follows a recent ruling by the Supreme Court against Mauritius-based Tiger Global International, where the apex court...

New Delhi, April 1 Crude oil prices fell by more than 3 percent to Rs 9,265 per barrel in futures trading on Wednesday as investors booked profits after US President Donald Trump said the military could end its offensive against Iran in two to three weeks.On the Multi Commodity Exchange (MCX), crude oil for the April delivery decreased by Rs 302, or 3.16 percent, to Rs 9,265 per barrel.Similarly, the May contract also declined by Rs 320, or 3.56 percent, to Rs 8,661 per barrel, reflecting broad-based weakness across near-term contracts.Analysts said crude prices faced selling pressure during the session as markets turned cautious.Crude oil prices faced selling pressure on Wednesday session as cautious sentiment emerged despite...

New Delhi, April 1 GST revenues grew by about 9% in March, reaching the pre-tax cut level of over Rs 2 lakh crore, the third highest monthly collection in the 2025-26 fiscal, driven by revenue from both imports and domestic sales and purchases, according to government data released on Wednesday.Gross domestic revenues rose by 5.9% to over Rs 1.46 lakh crore, while revenues from imports increased by 17.8% to Rs 53,861 crore during the month.The gross Goods and Services Tax (GST) collection in March 2025 was Rs 1.83 lakh crore.March 2026 saw the third-highest collection in the 2025-26 fiscal (April-March), with April 2025 recording the highest-ever GST revenues at over Rs 2.36 lakh crore, followed by May's collection at over Rs 2.01...

New Delhi, April 1 The cement industry is expected to grow by 7-8 per cent in the current fiscal year, supported by sustained demand from the housing and infrastructure sectors, a report by rating agency ICRA said.However, profitability will remain under pressure due to rising input costs and geopolitical tensions affecting fuel and freight.In 2025-26 up to February, the cement industry posted a 9.2 per cent year-on-year increase in volumes, it added.According to ICRA, the cement industry witnessed healthy expansion in profits in the previous fiscal, following an 11-17 per cent expansion in OPBIDTA/MT (operating profits per unit of sales volumes) to Rs 900-950 per MT (metric tonnes)."The operating environment is now expected to...

Mumbai, April 1 Amid the West Asia conflict, domestic rating agency Crisil on Wednesday estimated that banks' credit growth would moderate marginally in FY27 and delinquencies would rise.The banking system is expected to report a 13 per cent credit growth in 2026-27, a marginal dip compared to the 14 per cent projected for FY26, it said.The agency also said that the gross non-performing assets in the banking system have reached their lowest point and may rise by up to 0.20 per cent to 2.5 per cent by March 2027.Its chief rating officer Krishnan Sitaraman pointed out that loans to micro, small and medium enterprises, especially those having exposure to West Asia either as a market or as a source of raw material, are the key...

New Delhi, April 1: Digital payment services experienced disruptions across India on Wednesday, leaving many users unable to complete transactions through UPI platforms.According to outage tracking platform Downdetector, complaints surged sharply during the day, indicating a widespread issue.The impact was significant on State Bank of India, which saw over 500 outage reports, while UCO Bank recorded around 40 complaints.Overall, UPI-related downtime reports also crossed 40, with numbers continuing to rise as more users reported issues.The disruption was not limited to a single region, with users from cities like New Delhi, Mumbai, Bengaluru, Jaipur, and Pune reporting failed transactions and payment errors.In the case of SBI...

New Delhi, April 1 India's data center segment will continue to attract interest from investors and may see an investment commitment of more than USD 54 billion this calendar year, according to CBRE.Real estate consultant CBRE released a report titled 'India Alternate Sectors Outlook 2026', stating that India's total data center stock across major cities is projected to increase by 30 per cent year-on-year in 2026 with an estimated 500 MW of new supply addition. Stock portfolio managementIn 2025, the total data center capacity in the country reached the 1,700 MW mark, driven by a record 440 MW of new supply addition.The report highlighted that the asset class witnessed investment commitments of USD 56.4 billion in 2025 alone...

New Delhi, April 1 Silver prices ended a three-day winning streak and fell by Rs 1,854 to Rs 2.39 lakh per kilogram in futures trading on Wednesday, tracking weak global trends amid geopolitical tensions in the ongoing conflict in West Asia.On the Multi Commodity Exchange, the white metal for the May delivery declined by Rs 1,854, or 0.77 per cent, to Rs 2,39,038 per kilogram.In the international market, silver futures for the May contract slipped by nearly 1 per cent at USD 74.25 per ounce."Silver fell to around USD 74 per ounce on the first trading day of April, extending its sharp monthly sell-off of more than 20 per cent in March. This marked the steepest decline since September 2011, and silver now trades nearly 40 per cent...

Mumbai, April 1 US tariff orders are likely to moderate India Inc's credit profiles in the second half of FY26, and the West Asia conflict, especially its duration, will play a crucial role in determining how it pans out in the future, rating agencies said on Wednesday.Crisil Ratings, which rates over 7,300 entities, conducted a stress test on the likely impact of the West Asia crisis on Indian companies, which revealed that 23 of the 30 sectors with exposure to the Gulf region will be resilient to the pressure.Its managing director Subodh Rai told reporters that it is very difficult to predict how long the war will last and what the final outcomes will be.This is leading the agency to term the credit quality outlook as "stable"...

New Delhi, April 1 Mahagun Group, a real estate firm, has raised ₹225 crore from CSL Finance Ltd to complete its ongoing projects.In a statement on Wednesday, the company announced that it had secured ₹225 crore in funding from CSL Finance. This will strengthen the company's financial position and provide fresh momentum to accelerate project execution across its portfolio.Amit Jain, Director, Mahagun Group, said, "Securing fresh funding alongside the successful completion of our previous debt marks an important step in strengthening our financial foundation. We remain focused on accelerating execution and delivering on our commitments."Mahagun Group has completed 20 residential and commercial projects across the Delhi-NCR market.

New Delhi, April 1 SNVA Traveltech Ltd, which operates the online travel platform Travomint, has filed preliminary documents with the markets regulator, Sebi, through a confidential route for an Initial Public Offering (IPO). Market research toolsIn a public notice on Wednesday, the Noida-based firm said it has filed "the pre-filed draft red herring prospectus with Sebi and the stock exchanges on March 30 in relation to the offer."The company has opted for the confidential pre-filing route, which allows it to engage with the Securities and Exchange Board of India (Sebi) for initial feedback on its draft document without it being publicly disclosed.This route has been increasingly favored by companies seeking more flexibility in...

Ahmedabad, April 1 – Adani Airport Holdings partnered with Blinkit on Wednesday to bring app-based quick commerce delivery inside Mumbai Airport, allowing passengers to order essentials directly within the terminal.The service is currently available at Terminal 2 of Chhatrapati Shivaji Maharaj International Airport for domestic departures, aiming to make travel more convenient for passengers.With this new offering, travellers can now order essential items such as chargers, snacks, books, and personal care products through the Blinkit app and receive them within minutes inside the airport.Deliveries can be made across boarding gates, lounges, food courts, and select partner outlets.The service is handled by trained on-site staff...

New Delhi, April 1 – The Central Board of Indirect Taxes and Customs (CBIC) introduced a special, one-time relief measure on Wednesday for eligible units in Special Economic Zones (SEZs) to facilitate the sale of manufactured goods to the Domestic Tariff Area (DTA) at concessional rates.This move is in line with the Union Budget 2026-27 announcement, which addresses the concerns faced by manufacturing units in SEZs due to ongoing global trade disruptions, according to an official statement.The Union Budget announcement is being implemented through an exemption notification issued under Section 25 of the Customs Act, 1962, for manufactured goods cleared by SEZ units to DTA, and will be in effect from April 1, 2026, until March 31...

New Delhi, April 1 Adani Ports and Special Economic Zone Ltd (APSEZ) announced on Wednesday that it has surpassed 500 million tonnes of cargo handled, marking a key milestone in its growth as India's largest integrated transport utility.This achievement reflects the company's expansion from a single port in 1998 to a network of 19 ports and terminals, further solidifying its role in supporting India's trade and infrastructure development.APSEZ Chairman Gautam Adani said the milestone underscores the group's long-term confidence in India's growth story and its focus on building an integrated logistics platform encompassing ports, rail, road, and warehousing.The company stated that it remains on track to achieve its target of...

New Delhi, April 1 – India’s data center (DC) capacity is projected to grow by around 30 per cent year-on-year in 2026, driven by strong demand and continued investor interest, according to a report released on Wednesday.According to an analysis by CBRE, the estimates suggest an addition of nearly 500 MW of new supply this year, building on the record 440 MW capacity added in 2025 – a 160 per cent jump compared to the previous year.The total domestic data center capacity stood at around 1,700 MW at the end of 2025, according to the report.The sector has also attracted significant capital, with investment commitments reaching $56.4 billion in 2025, taking the cumulative total to $126 billion.These commitments are expected to rise...

New Delhi, April 1 MSME Business Forum India and Vertex Group announced a partnership on Wednesday aimed at boosting MSME growth and job creation in India through skill development programs.As part of the initiative, Vertex Learning, one of Vertex Group's core verticals, will offer industry-recognized certifications and advanced upskilling programs for MSMEs and professionals in India through direct collaborations with Polish universities.Gagan Arora, Founder and President, Vertex Group, said, "Through this partnership, we are not only facilitating investment and business expansion but also creating a skilled workforce and sustainable jobs that will shape the future of both our nations."At a recent Indo-Polish B2B roundtable here...

Mumbai, April 1 Czech auto major Skoda Auto announced on Wednesday that its vehicle sales in India surged by 17 per cent to 20,028 units in the January-March quarter of CY 2026, compared to 17,138 vehicles in the same quarter of last year, driven by an enhanced product portfolio and expanding market reach.Building on a successful 2025, when it posted record 107 per cent year-on-year growth, Skoda Auto India has sustained its growth momentum and continues to accelerate its presence in the domestic market, the company said.Skoda Auto India continues its strong growth trajectory into 2026, recording its highest-ever quarterly sales in Q1 (January-March) with 20,028 units sold, the company said.The company's product range in India...

New Delhi, April 1: Members of the 8th Pay Commission have begun consultations on the proposed salary revision for central government employees and pensioners.A key meeting is scheduled in Dehradun on April 24, where representatives of employee unions, pensioners' associations, and other stakeholders are expected to present their views on pay structures, allowances, and pension-related issues.Members of the commission are expected to visit various other parts of the country to hold similar meetings in order to better understand the problems faced by employees and retirees. The feedback collected from these meetings will help the Commission decide how much salaries, pensions and benefits should be revised in the future.The...

New Delhi, April 1 India Ratings and Research (Ind-Ra) said on Wednesday that the corporate credit profile has remained strong for the fifth consecutive year in 2025-26, supported by domestic policy measures and favorable macroeconomic conditions.Disruptions related to tariffs were largely manageable and affected only a few entities in export-heavy sectors, it added, noting that the ongoing conflict in West Asia will test the strong balance sheets of the corporate sector in the current fiscal, which begins on April 1.During FY26, Ind-Ra upgraded the ratings of 361 issuers and downgraded the ratings of 115 issuers.The upgrade-to-downgrade ratio dipped slightly to 3.1 in FY26 from 3.5 a year ago.Arvind Rao, Head of the Credit...