Business

Shares of CMPDIL Decline Over 10% on Listing Initial Trading and Price Decline Shares of Central Mine Planning & Design Institute Ltd (CMPDIL), a subsidiary of state-owned Coal India, experienced a significant discount on its debut trading session on Monday. The stock commenced trading at ₹162.80, representing a 5.34 percent decrease from the ₹172 issue price on the BSE. Throughout the day, the price continued to decline, reaching a low of ₹152.30, a drop of 11.45 percent. The stock ultimately closed at ₹154.05, reflecting a 10.43 percent discount to the issue price.NSE Listing and Closing Price At the National Stock Exchange (NSE), CMPDIL listed at ₹160, marking a 6.97 percent discount to the issue price. The stock closed at...

Property Share Investment Trust IPO Opens April 10, Targeting Rs 244.65 Crore IPO Details Property Share Investment Trust, the country’s first registered Small and Medium Real Estate Investment Trust (SM REIT), announced the IPO of PropShare Celestia on Monday. The IPO is scheduled to open on April 10 and conclude on April 16. The price band for the units is Rs 10 lakh to Rs 10.50 lakh per unit.Funding and Asset Acquisition The public issue comprises only a fresh issuance of units. The proceeds from the IPO will be used to acquire seven floors in Venus Stratum, a Grade A+ mixed-use commercial building located in Nehru Nagar, Ahmedabad.Property Overview Project Celestia, the underlying asset, has a super built-up area of 2,07,838...

India’s WTO Position Reflected in Ministerial Conference Outcomes, Says Goyal India’s Growing Influence in Global Trade Discussions New Delhi, March 30 – Union Commerce and Industry Minister Piyush Goyal stated on Monday that India’s stance at the recently concluded World Trade Organization (WTO) Ministerial Conference (MC14) in Cameroon was “not only heard but also reflected” in the final outcomes, highlighting the country’s increasing influence in shaping global trade discussions.Concluding a four-day visit to Cameroon, where he participated in the WTO Ministerial Conference, Minister Goyal noted that the global trade landscape has undergone significant changes since the last meeting held in Africa a decade ago. He emphasized that...

Centre’s Fiscal Deficit Reaches Rs 12.52 Lakh Crore at End of February New Delhi, March 30 – The Centre’s fiscal deficit reached Rs 12.52 lakh crore at the end of February, representing 80.4 per cent of the annual budget target for 2025-26, according to government data released on Monday. This figure compares to 85.8 per cent for the same period in the previous fiscal year. Fiscal Deficit Details The central government estimates a fiscal deficit of 4.4 per cent of GDP, translating to Rs 15.58 lakh crore, for the 2025-26 financial year. Revenue and Expenditure Figures The Controller General of Accounts (CGA) reported total receipts for the Centre at Rs 27.91 lakh crore, or 82 per cent of the budget target by the end of February 2026...

India’s Industrial Production Rises 5.2 Percent in February New Delhi – India’s industrial production recorded a growth of 5.2 percent in February 2026, driven primarily by an increase in manufacturing output, according to official data released on Monday.Factory output expanded by 2.7 percent in February 2026, as reported by the National Statistics Office. The NSO revised the industrial production growth for January 2026 to 5.1 percent from a provisional estimate of 4.8 percent released earlier this month.Manufacturing sector output growth accelerated to 6 percent in February 2026, compared to 2.8 percent in the year-ago month. Mining production growth improved to 3.1 percent, up from 1.6 percent a year ago. Power generation growth...

China’s Industrial Growth Driven by Provincial Rivalry, Not Central Planning New Delhi, March 30 – China’s industrial growth is primarily fueled by institutionalized competition among provinces, cities, and firms, with the central government acting as a referee and disciplinarian rather than a direct planner, according to a new report.The Globe and Mail described China’s industrial policy as “authoritarianism,” characterizing it as “behaves less like central planning than a state-enabled pressure cooker.” The report highlighted a system where the central government steers, rewards, and occasionally reining in excesses.Special economic zones (SEZs) like Shenzhen served as experimental grounds for these competitive models. Successful...

Maruti Suzuki Launches ‘Quickstop’ Initiative for Automotive Services Expanding Service Accessibility with New Locations New Delhi, March 30 – Maruti Suzuki India Ltd. launched a new initiative on Monday, offering automotive services at high-traffic locations. These include corporate campuses, airport zones, and fleet hubs.The ‘Quickstop’ program aims to provide convenient access to Maruti Suzuki’s services for customers. A pilot phase has been initiated with 10 facilities established across Delhi-NCR, Chennai, Hyderabad, Bengaluru, Kolkata, Bagdogra, Calicut, and Surat, as announced in a company statement.“As workdays are becoming increasingly busy and personal time is becoming more valuable, we recognize a growing need to make...

India’s Industrial Production Rises 5.2 Percent in February New Delhi, March 30 – India’s industrial production experienced a growth of 5.2 percent in February, driven primarily by gains in the manufacturing sector, according to official data released on Monday.Factory Output Increases Factory output, measured by the Index of Industrial Production (IIP), rose by 2.7 percent in February 2025, as reported in an official statement.Revision of January Data The National Statistics Office (NSO) revised the industrial production growth for January 2025 to 5.1 percent, an increase from the earlier provisional estimate of 4.8 percent.Manufacturing Sector Leads Growth The NSO data indicated that the manufacturing sector’s output growth...

BHEL Secures ₹13,500 Crore Order for Telangana Thermal Power Plant NTPC Awards Main Plant Package to BHEL New Delhi, March 30 – State-owned Bharat Heavy Electricals Limited (BHEL) announced today that it has secured a contract worth ₹13,500 crore from NTPC Limited for the main plant package of the 2,400 MW Telangana Stage-II thermal power plant.According to a regulatory filing, BHEL emerged as the successful bidder for the project in October 2024. On March 29, 2026, BHEL received a Notification of Award (NOA) from NTPC for the 3x800 MW Telangana Stage-II project (Main Plant Package).The scope of the order encompasses the design, engineering, manufacturing, supply, erection, commissioning, and testing of the main plant package. This...

Government Takes Measures to Address West Asia Crisis New Delhi, March 30 – The government is implementing a series of measures to mitigate external risks, support the balance of payments, and maintain macroeconomic stability in response to the ongoing West Asia crisis, according to Minister of State for Finance Pankaj Chaudhary.Strategic Group Formation and Monitoring Seven new empowered groups have been constituted to address key areas including supply chains, petrol-diesel, fertilisers, gas, and inflation. An Inter-Ministerial Group on supply chain resilience has also been operationalized to monitor the situation and coordinate facilitation measures related to exports and imports.Assessing Economic Impact Responding to questions...

Bacancy Systems Secures ₹40 Crore Series A Funding New Delhi, March 30 – Bacancy Systems, a Gujarat-based startup specializing in embedded electronics and power systems, has secured ₹40 crore in a Series A funding round. The investment was led by private equity investment firm Sabre Partners and growth equity fund Greenstone Capital. Both investors have acquired minority stakes in the company through primary investments, as announced in a company statement. The fresh capital will be strategically deployed to scale up manufacturing capabilities, accelerate product development, deepen research and development (R&D) efforts, and facilitate expansion into international markets. Founded in 2021, Bacancy Systems focuses on hardware, firmware...

NABARD Projects Rs 3,723.49 Crore in Priority-Sector Credit for Arunachal Pradesh ITANAGAR, March 30 – The National Bank for Agriculture and Rural Development (NABARD) has released the State Focus Paper (SFP) 2026-27 for Arunachal Pradesh, projecting a potential of Rs 3,723.49 crore in priority-sector credit. Key Credit Potential Breakdown The SFP outlines credit potential estimates across several key sectors, aiming to support inclusive growth in the state. The projected figures are as follows:SectorEstimated Credit Potential (Rs Crore)Agriculture and Allied Activities1,071.17MSME Sector2,519.42Other Priority Sectors132.90Total3,723.49Strategic Focus The SFP for 2026-27 highlights the need for systematic investment...

Indian Stock Markets End Fiscal Year on Weak Note Amid Global Tensions Mumbai, March 30 – Indian stock markets concluded the final trading session of the 2026 fiscal year with a significant downturn, driven by escalating global tensions stemming from the ongoing conflict in the Middle East.The benchmark Nifty 50 index experienced a sharp decline, falling 2.14 per cent, or 488.20 points, to close at 22,331.40. The Sensex, India’s broader market index, dropped 2.22 per cent, or 1,635.67 points, ending the session at 71,947.55.Market PerformanceThe market weakness was widespread, with the Nifty MidCap index slipping 2.68 per cent and the Nifty SmallCap index falling 2.66 per cent. Sector-wise, banking and financial stocks were...

AgriTech Startup Cropcoin Raises ₹12 Crore in Pre-Series A Round New Delhi, March 30 – AgriTech startup Cropcoin Technologies (formerly Jaisa) announced today that it has secured ₹12 crore in a pre-Series A funding round. The investment was led by Unicorn India Ventures, with participation from Climate Angels. Expansion Plans Underway The funds will be strategically deployed to support Cropcoin’s expansion into Bihar and Jharkhand. The company plans to scale its operations from its current presence in 10 districts to encompass all 66 districts within the two states. Cropcoin’s stated goal is to build a decentralized supply chain model. Focus on Research and Development The capital will also be utilized to fund research and development...

AI-Generated Deepfakes Raise Concerns, Platforms Increasing Removal Efforts New Delhi, March 30 – Union Minister for IT and Information and Broadcasting, Ashwini Vaishnaw, on Monday raised concerns about the growing prevalence of AI-generated deepfakes, describing them as a “new menace” and a “new threat” to society. The minister noted that a significant increase in deepfake content, resembling manipulated media, is emerging across social media platforms globally. He highlighted that platforms are responding to the challenge by substantially increasing their efforts to remove such content. “A lot of content resembling deepfakes is emerging,” Vaishnaw told reporters. “Due to the changes in the AI world, a large quantity of deepfakes have...

India’s Rapeseed-Mustard Production Projected to Rise to 119.4 Lakh Tonnes in 2025-26 Jaipur, India – India’s rapeseed-mustard production is forecast to increase to 119.4 lakh tonnes in the 2025-26 rabi season, a rise from the 115.2 lakh tonnes recorded in the previous year, according to the Solvent Extractors’ Association of India (SEA) on Monday.Production and Area Estimates The initial estimate, based on field surveys, crop cutting, and remote sensing across key mustard-growing districts, indicates a significant expansion in the total area under rapeseed-mustard cultivation. The area has grown to 93.91 lakh hectares from 92.15 lakh hectares in 2024-25.Furthermore, the average yield is projected to improve to 1,271 kg per hectare...

JFE Steel Invests ₹7,875 Crore in JSW Kalinga Steel New Delhi, March 30 – JFE Steel Corporation, a leading Japanese steel manufacturer, has invested ₹7,875 crore in JSW Kalinga Steel Ltd, a subsidiary of JSW Steel, led by Sajjan Jindal. This investment represents the first tranche of JFE’s planned 25 per cent stake in the company.The investment, comprising 2,26,94,524 equity shares, was allotted to JFE Steel on March 30, 2026, according to a BSE filing by JSW Steel. This transaction establishes joint control over JSW Kalinga and its wholly owned subsidiary, JSW Sambalpur Steel Ltd.Following the allotment and subsequent board changes at JSW Kalinga, as per the joint venture agreement (JVA), JFE Steel is set to acquire an additional...

Digital NBFCs Projected to Oversee ₹3.6 Trillion Personal Loan Market by FY30 New Delhi, March 30 – Digital non-banking finance companies (NBFCs) are poised to dominate the personal loan market, with projections indicating a portfolio exceeding ₹3.6 lakh crore by fiscal year 2030, according to a report released on Monday. The forecast anticipates a compound annual growth rate of 26-28 per cent between fiscal years 2025 and 2030.The report, issued by ratings agency CareEdge Ratings, attributes this robust growth to factors including increasing digital penetration, a broadening base of borrowers, and a supportive regulatory environment.Outstanding personal loans for digital NBFCs more than doubled between March 2023 and September...

Rupee Hits Historic Low of 95.22 Against US Dollar Currency Decline Driven by Oil Prices and Geopolitical Tensions Mumbai, March 30 – The Indian rupee experienced a significant downturn on Monday, hitting a historic low of 95.22 against the US dollar in intra-day trading. Initial gains following a Reserve Bank of India (RBI) decision to reduce overnight USD open position were quickly erased as rising oil prices and ongoing geopolitical concerns exerted continued pressure on the currency.The rupee opened at 93.62 against the US dollar and subsequently rose to 93.57, registering a gain of 128 paise from its previous close. However, the currency failed to maintain this momentum, ultimately falling to an all-time low of 95.22. On Friday...

NSE Initiates IPO Process, Seeks Shareholder Interest in OFS New Delhi – The National Stock Exchange (NSE) has begun the process for its initial public offering (IPO), inviting existing shareholders to express interest in participating through an offer for sale (OFS) route.According to sources, the NSE has communicated to investors, requesting expressions of interest (EOI) for shareholders wishing to offload a portion or all of their holdings. This marks a key step forward in the exchange’s long-standing plans for a public listing.Shareholders are being provided with EOI forms and related documentation detailing the framework and conditions for participation in the OFS. They will have the option to tender shares fully or partially...