Business

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...

Sai Parenteral Shares List at Premium Despite Weak Market Sentiment New Delhi, April 2: Shares of Sai Parenteral, a diversified pharmaceutical formulation company, made a positive stock market debut on Thursday, listing at a premium of over 3 percent compared to its issue price, even as broader markets remained under pressure.Stock Lists Above Issue Price on BSE and NSE The stock opened at Rs 405 on the BSE, reflecting a gain of 3.32 percent over its issue price of Rs 392. On the NSE, shares debuted at Rs 400, marking a 2.04 percent increase.Following the listing, the company’s market valuation stood at Rs 1,784.84 crore on the NSE.Listing Amid Broad Market Weakness Sai Parenteral’s listing comes at a time when domestic equity...

India Manufacturing PMI Eases to 53.9 in March Amid Global Disruptions and Rising Input Costs New Delhi, April 2: India’s manufacturing activity showed signs of moderation in March, with the Purchasing Managers’ Index (PMI) easing to 53.9, as global disruptions linked to the ongoing Middle East conflict weighed on business sentiment and demand, according to HSBC Flash India PMI data released on Thursday.Demand Softens as Output Growth Slows The latest data highlighted a noticeable slowdown in both output and new orders, pointing to softer demand conditions and rising uncertainty among manufacturers. Despite the moderation, the overall pace of expansion remained historically strong, though it slipped to a three-month low.Pranjul...

Amir Chand Jagdish Kumar Shares List at Discount, Slip Further Amid Weak Market Sentiment New Delhi, April 2: Shares of basmati rice exporter Amir Chand Jagdish Kumar (Exports) Ltd made a weak debut on the stock exchanges on Thursday, listing at a discount to the issue price and extending losses during the trading session.Stock Lists Below Issue Price on BSE and NSE The stock opened at Rs 195 on the BSE, marking a decline of 8.02 per cent compared to its issue price of Rs 212. Selling pressure intensified post-listing, dragging the shares further down by 10.59 per cent to Rs 189.55.On the NSE, the shares debuted at Rs 200, reflecting a 5.66 per cent drop, and later slipped 12 per cent to Rs 186.76.Market Capitalisation and Broader...

India Real Estate Investments Rise 25% to $1.6 Billion in Q1 2026, Driven by Domestic Capital Domestic Investors Take the Lead as Foreign Inflows Slow New Delhi, April 2: Institutional investments in India’s real estate sector rose sharply in the January to March quarter of 2026, reaching $1.6 billion, marking a 25 per cent year-on-year increase, according to a report released on Thursday.The growth was largely fueled by a strong surge in domestic capital. As per Colliers, Indian investors contributed $1.2 billion during the quarter, registering a 57 per cent annual rise and accounting for nearly three-fourths of the total inflows. This represents a notable shift compared to the typical domestic share of 20 to 50 per cent observed...

Government Extends SIM Linking Deadline for Messaging Apps to December 31 New Delhi, April 2: The government has extended the deadline for implementing the SIM-binding rule for mobile messaging applications such as WhatsApp, Telegram, and Signal to December 31, following requests from industry stakeholders, according to official sources.SIM-Binding Rule to Strengthen Device-Level Verification The SIM-binding framework mandates that messaging platforms can provide services on a mobile device only if an active SIM card is present in the device. The move is aimed at ensuring stronger linkage between user accounts and mobile numbers.Web Log-Out Rule Relaxed with Risk-Based Approach In a related update, the Department of...

India Defence Exports Hit Record ₹38,424 Crore in FY26, Surge 62.66% Year-on-Year New Delhi, April 2: India’s defence exports climbed to a record high of ₹38,424 crore in the financial year 2025-26, registering a sharp 62.66 percent increase compared to ₹23,622 crore in the previous fiscal, according to an official government statement released on Thursday.DPSUs and Private Sector Drive Export Growth Defence Public Sector Undertakings (DPSUs) accounted for 54.84 percent of total exports, while the private sector contributed 45.16 percent, reflecting a balanced participation across the industry.In value terms, DPSUs exported ₹21,071 crore worth of defence equipment, a significant jump from ₹8,389 crore in the previous financial year...

Sensex, Nifty Fall Nearly 2% as Iran Tensions Spike Oil Prices and Trigger FII Sell-Off Indian Markets Open Deep in Red Amid Global Uncertainty Mumbai, April 2: India’s benchmark equity indices, the Sensex and Nifty, dropped nearly 2 percent in early trading on Thursday, reflecting heightened investor anxiety after fresh geopolitical tensions in West Asia pushed crude oil prices higher and triggered sustained foreign fund outflows.The 30-share BSE Sensex declined by 1,433.72 points, or 1.96 percent, to trade at 71,700.60, while the NSE Nifty fell 445.70 points, or 1.97 percent, to 22,233.70 during the morning session.Broad-Based Selling Across All Sensex Stocks Selling pressure was visible across the board, with all 30 Sensex...

Indian Rupee Surges 1.7% in Biggest Gain in Over 12 Years Amid RBI Crackdown on Speculation New Delhi, April 2: The Indian rupee recorded its sharpest single-day rise in more than 12 years on Thursday, driven by aggressive regulatory action aimed at curbing currency speculation in both domestic and offshore markets.The rupee strengthened by as much as 1.7 percent to 93.25 against the US dollar, marking its biggest gain since September 2013. The surge came as trading resumed after a three-day holiday break, amplifying market reactions to recent policy measures.RBI Tightens Grip on Currency Derivatives Market The rally follows a series of steps by the Reserve Bank of India to restrict speculative trading. The central bank has extended...

Rupee Rebounds 151 Paise from Record Low, Trades at 93.19 Against US Dollar RBI Measures Trigger Sharp Recovery in Early Trade Mumbai, April 2: The Indian rupee staged a strong recovery on Thursday, gaining 151 paise from its record low to trade at 93.19 against the US dollar in early deals. The rebound comes after the Reserve Bank of India introduced measures to restrict banks' net open position in the onshore forward delivery market.At the interbank foreign exchange, the rupee opened at 94.62 and surged to 93.19, marking a gain of 1.6 percent from its previous close.RBI Caps Banks’ Exposure to Stabilize Currency The central bank, through its circular dated March 27, 2026, capped the net open position on the Indian rupee for banks...

Government Waives Customs Duty on Key Petrochemicals Amid West Asia Crisis New Delhi, April 2: The government on Thursday announced a full customs duty exemption on select critical petrochemical products to ensure supply stability and ease cost pressures on industries amid the ongoing West Asia conflict.Duty Exemption Valid Till June 30 The Finance Ministry stated that the exemption will remain in effect until June 30 and is aimed at addressing supply chain disruptions caused by escalating geopolitical tensions in the region.According to the official statement, the move is a temporary and targeted relief measure designed to maintain the steady availability of essential petrochemical inputs, reduce input costs for downstream...

Stock Market Today: Sensex, Nifty Fall Over 1% as West Asia Tensions Weigh on Sentiment Mumbai, April 2: Indian equity markets opened sharply lower on Thursday, with benchmark indices declining more than 1 percent amid escalating tensions in West Asia and cautious global cues.The BSE Sensex opened at 72,262, falling 872 points or 1.19 percent, while the Nifty 50 dropped around 300 points or 1.31 percent to 22,383.40. Both indices extended losses during early trade, reflecting broad-based selling pressure.Broad-Based Selling Across Sectors All major sectoral indices started the session in negative territory. Key sectors including banking, real estate, chemicals, automobiles, metals, and healthcare witnessed notable declines.Among...

South Korean Stocks Sink Over 3% as Trump’s Iran Warning Triggers Global Market Jitters KOSPI Reverses Early Gains Amid Escalating Geopolitical Tensions Seoul, April 2: South Korean equity markets witnessed a sharp sell-off on Thursday morning, with the benchmark Korea Composite Stock Price Index (KOSPI) plunging more than 3 percent after fresh geopolitical tensions rattled investor sentiment.The KOSPI dropped 197.1 points, or 3.6 percent, to 5,281.6 as of 11:20 a.m. The index had initially opened over 1 percent higher, tracking overnight gains on Wall Street, but quickly reversed course following remarks from U.S. President Donald Trump that heightened concerns over the ongoing conflict with Iran.Trump’s Warning Dampens Hopes of...

South Korea Inflation Rises to 2.2% in March Amid Surge in Global Oil Prices Seoul, April 2: South Korea’s consumer price inflation accelerated to 2.2 percent year-on-year in March, exceeding the government’s 2 percent target, as rising global oil prices driven by prolonged Middle East tensions pushed fuel costs higher, according to official data released on Thursday.The latest reading marks the fastest inflation growth since December, when consumer prices had risen 2.3 percent annually, highlighting renewed price pressures in the economy.Fuel Prices Lead Inflation Spike The primary driver behind the increase was a sharp rise in petroleum product prices, which climbed 9.9 percent year-on-year, the steepest jump since October 2022...

Legacy Investments Get Relief as New Income Tax Rules Shield Pre-2017 Foreign Holdings from GAARGovernment Clarifies Tax Treatment for Pre-FY18 Foreign InvestmentsIn a significant move aimed at strengthening investor confidence, the Income Tax Department has clarified that income arising from foreign investments made before April 1, 2017 will not be subjected to the General Anti Avoidance Rule (GAAR). The amendment ensures that tax authorities cannot deny treaty benefits or impose additional taxes on exits linked to such legacy investments, even if tax avoidance was a primary consideration at the time.The clarification comes through amendments to the Income Tax Rules, reinforcing protections for investments made before the start...

Thane Civic Bodies Report Strong Rise in Tax Collections for FY26 Amid Digital Push and Recovery Drives Thane, April 2: Civic bodies across Maharashtra’s Thane district have reported a notable increase in tax collections for the financial year 2025-26, supported by intensified recovery efforts, amnesty schemes, and a growing shift toward digital payment systems, according to officials.Thane Municipal Corporation Sees Digital Surge in Collections The Thane Municipal Corporation (TMC) recorded tax collections of Rs 878.37 crore, marking an increase from Rs 810 crore in the previous year. A significant highlight was the adoption of digital payment modes, with 87.37 percent of taxpayers opting for online transactions.The...

From South Korea to the US, Markets Tumble After Trump Address as Futures and Gold Slide Global financial markets came under pressure following US President Donald Trump’s latest address, triggering a broad selloff across equities from Asia to the United States, while commodities also reflected shifting investor sentiment.Asian Markets Decline Amid Rising Uncertainty Equity markets across Asia moved lower as investors reacted to heightened geopolitical concerns and the absence of clear de-escalation signals surrounding the Iran conflict.South Korea’s Kospi dropped 2.6%, while Japan’s Nikkei 225 declined 1.5%. Hong Kong’s Hang Seng index slipped about 1%, with additional losses recorded across Shanghai, Singapore, Taipei, and Sydney...

Petrol and diesel prices remained unchanged across major Indian cities on April 2, even as global crude oil markets witnessed sharp volatility driven by escalating geopolitical tensions in West Asia. While retail fuel prices stayed stable, commercial fuel segments and LPG rates have seen notable increases, reflecting the impact of rising global energy costs. Fuel Prices in Key Cities on April 2 The latest petrol and diesel prices across major cities are as follows:CityPetrol (Rs/Litre)Diesel (Rs/Litre)Delhi94.7787.67Mumbai103.5490.03Kolkata105.4592.02Chennai100.8492.39Ahmedabad94.4990.16Hyderabad107.4695.70Patna105.7191.49Bengaluru102.9690.99Lucknow95.3488.50Commercial Fuel and LPG Prices See Sharp...

Chandigarh, April 1 Haryana has recorded the highest growth in State GST (SGST) collection among all states in 2025-26, according to a report by the Central Board of Indirect Taxes and Customs (CBIC).The state's post-settlement SGST collection stood at Rs 48,289 crore in FY26, registering a 21.5 per cent growth from Rs 39,743 crore in FY25.This is significantly higher than the national average growth of 5.7 per cent.An official spokesperson on Wednesday said that the total GST collection in Haryana increased by 8.6 per cent in FY26, higher than the national GST growth rate of 6.4 per cent.With this performance, Haryana ranked fifth among all states and Union Territories in terms of gross domestic GST collection.The government...

Mumbai, Apr 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" for...