Business

New Delhi, March 25 Auto component major Samvardhana Motherson International announced on Wednesday that it has signed a joint venture agreement with Hellmann Worldwide Logistics (MESA) Holding Limited to provide integrated supply chain solutions for the global automotive industry.The JV will be incorporated in Dubai. The partnership will provide access to over 30,000 global suppliers and OEM (original equipment manufacturer) relationships by combining Hellmann's logistics network with Motherson's automotive expertise.The joint venture will support Motherson's growing global manufacturing footprint and the broader automotive ecosystem while strengthening Hellmann's global automotive logistics capabilities, a statement said."Our...

New Delhi, March 25 Protecting the livelihoods of small farmers and fishermen while safeguarding policy space for developing economies in emerging areas such as digital trade will remain central to India's position at the four-day WTO ministerial meeting beginning in Cameroon from March 26.Trade ministers of 166 member countries, including India, China, and the US, will gather at the World Trade Organisation's (WTO) 14th Ministerial Conference (MC14) in Yaoundé, Cameroon, a central African country on the Gulf of Guinea, to discuss issues pertaining to agriculture, e-commerce, and fisheries.The ministers will discuss ways to address critical trade issues affecting the global economy, the commerce ministry said in a statement on...

New Delhi, March 25 The initial public offering of Sai Parenteral's Ltd, a diversified pharmaceutical formulation company, saw 41 per cent subscription on the second day of the share sale on Wednesday.The IPO received bids for 30,82,788 shares against 75,22,486 shares on offer, according to details available with the NSE.The category for non-institutional investors was subscribed 1.01 times. The portion for Qualified Institutional Buyers (QIBs) received 60 per cent subscription, and the Retail Individual Investors (RIIs) portion fetched 5 per cent bidding.Sai Parenteral's Ltd garnered over Rs 122 crore from anchor investors on Monday.The company's public offering will conclude on March 27.The IPO has a fresh issue of up to Rs...

New Delhi, March 25 The initial public offer of power solutions provider Powerica Ltd was subscribed to 3% on the second day of the share sale on Wednesday.The company's IPO received bids for 5,22,995 shares against 2,05,55,171 shares on offer, according to details available with the NSE.The portion for retail individual investors was subscribed to 4%, and the category for non-institutional investors received 1% subscription.Powerica Ltd garnered Rs 329.40 crore from anchor investors on Monday.The company's Rs 1,100-crore public offering will conclude on March 27. The price band has been fixed at Rs 375-395 per share, valuing the company at nearly Rs 5,000 crore.The IPO is a combination of a fresh issue of shares worth Rs 700...

New Delhi, March 25 The sale of the cricket franchise, Royal Challengers Bangalore, by United Spirits Ltd (USL), is valued at nearly USD 2 billion (₹18,776 crore), considering it also includes a ₹540 crore payout for the Women's Premier League and a 5 per cent commission to the cricket body, BCCI, by the consortium of buyers, according to sources.On Tuesday, USL, part of multinational alcoholic beverages company Diageo, announced the sale of its 100 per cent equity stake in Royal Challengers Sports Private Ltd (RCSPL) to a consortium in a ₹16,660 crore (nearly USD 1.7 billion) all-cash deal.The acquiring consortium includes Aditya Birla Group, The Times of India Group, Bolt Ventures (a private investment platform of David Blitzer...

New Delhi, March 25 Union Commerce and Industry Minister Piyush Goyal said on Wednesday that the spirit of voluntary charity is an integral part of Indian society, with people across sections stepping forward to help those in need.Speaking at the National CSR announcement for FY 2026–27 and scholarship distribution event organized by the Malabar Charitable Trust here, Goyal said that while corporate social responsibility (CSR) frameworks have encouraged participation, going beyond mandated requirements reflects a genuine commitment to society.He praised the initiative of allocating 5 per cent of net profits towards CSR, calling it a significant step that sets an example for others.“Such efforts show that organizations can...

New Delhi, March 25 – The government’s Department for Promotion of Industry and Internal Trade (DPIIT) has partnered with fintech platform, Razorpay, to provide startups with access to financial tools, founder enablement programs, and ecosystem support to accelerate their growth, the government said on Wednesday.The collaboration aims to support startups, innovators, and entrepreneurs across the country by assisting early- and growth-stage ventures to scale efficiently by leveraging digital payment solutions, financial infrastructure, and startup support initiatives, according to an official statement.The collaboration will also provide incorporation support, mentorship, and structured guidance to help startups formalize, build, and...

New Delhi, March 25 A flat 12 per cent surcharge will be levied on capital gains earned by individual or corporate shareholders from selling shares in company buyback offers, starting April 1, as per the amendments to the Finance Bill approved by the Lok Sabha on Wednesday.The government introduced 32 amendments to the Finance Bill 2026 on Wednesday, which was subsequently approved by the House. The amended Finance Bill will be taken up for consideration by the Rajya Sabha on Friday.Commenting on the amendments, Sandeep Jhunjhunwala, M&A Tax Partner at Nangia Global Advisors, said that imposing a flat 12 per cent surcharge on capital gains from buybacks for individual shareholders would significantly increase their effective tax...

New Delhi, March 25 Businesses can now use UPI, debit or credit cards to pay customs duty on the ICEGATE portal, the Central Board of Indirect Taxes and Customs (CBIC) has said.The CBIC, in a circular, stated that the ICEGATE e-Payment platform has enabled a "Payment Aggregator" as an authorized mode to facilitate customs duty payment.Essentially, ICEGATE functions as the digital backbone of Indian customs and acts as an interface through which importers and exporters file documents, track clearances, and make duty payments. While the system has evolved significantly over time, the payment mechanism has largely remained anchored to a limited set of authorized banks and conventional channels such as net banking and NEFT/RTGS."With...

New Delhi, March 25 The Union Cabinet on Wednesday approved the revised regional air connectivity scheme, UDAN, for a ten-year period until 2035-36, with an outlay of ₹28,840 crore.The government will provide budgetary support for the revised scheme.Briefing media persons after the Cabinet meeting, Information and Broadcasting Minister Ashwini Vaishnaw said that the scheme will develop 100 airports from existing unserved airstrips.The total outlay for developing the airports will be ₹12,159 crore over the next eight years.Additionally, the aim is to develop 200 modern helipads, requiring a total investment of ₹3,661 crore over the next eight years, according to an official release. Under the scheme, airlines will receive...

Colombo, March 25 Sri Lanka is hoping to receive two installments of its bailout package from the IMF when the IMF team arrives here to complete its mission, Central Bank Governor Nandalal Weerasinghe said on Wednesday.An International Monetary Fund (IMF) team will arrive here on Thursday and remain until April 9 to conduct the combined fifth and sixth reviews of Sri Lanka’s reform program, which is supported by the IMF's Extended Fund Facility (EFF).The two installments together are expected to release USD 700 million from the USD 2.9 billion bailout package in 2023."Obviously, the situation changes; if the outlook is different, we need to discuss what changes are necessary," the governor said."This time, the changes may be...

New Delhi, March 25 Gold prices rose by Rs 5,091 to Rs 1.44 lakh per 10 grams in futures trading on Wednesday, driven by strong global trends and a weak US dollar.On the Multi Commodity Exchange, gold for the April contract increased by Rs 5,091, or 3.66 per cent, to Rs 1,44,003 per 10 grams.Analysts said the rally in gold was fueled by improving sentiment in the global commodities market."Gold prices experienced a notable rally on Wednesday, driven by easing geopolitical tensions surrounding the US-Iran conflict and expectations of potential interest rate cuts amid inflation projections," said Gaurav Garg, Research Analyst at Lemonn Markets Desk.He added that the positive reaction in the precious metals market was due to the...

Bhopal, March 25 Madhya Pradesh Food, Civil Supplies and Consumer Protection Minister Govind Singh Rajput said on Wednesday that there is no shortage of petrol and diesel in the state, and people should not believe rumors."Petrol and diesel are available in sufficient quantities. They are receiving continuous supplies from depots...Do not panic buy or hoard," he said.Queues and panic buying at petrol pumps were reported in some districts due to rumors, the minister said.Oil companies have informed that there are sufficient stocks of petrol and diesel in the state, and there has been no increase in their prices, said Rajput.The situation is being monitored by the state control room in Bhopal and the administration, he added...

Amaravati, March 25 In a major relief for consumers across Andhra Pradesh, the Andhra Pradesh Electricity Regulatory Commission (APERC) has approved no increase in electricity tariffs for FY2026–27, reaffirming the state government's commitment to protecting households, farmers, and small businesses from rising power costs.The commission's order also includes the true-up/down and performance review of Discoms for FY2024–25, following an extensive public consultation process.Government Steps In to Shield Consumers----------------------------------------------While Discoms projected a revenue gap of Rs 17,508 crore, APERC approved a lower gap of Rs 15,790 crore, which will be fully supported by the Government of Andhra Pradesh...

New Delhi, March 25 The government stated that there is no shortage of petrol, diesel, or LPG in the country, and urged citizens not to believe rumors circulating on social media or resort to panic buying.Supplies of LPG remain affected due to the ongoing disruption in the Strait of Hormuz.In a media briefing, Sujata Sharma, a Joint Secretary in the Ministry of Petroleum and Natural Gas, said that all refineries are operating at high capacity with "adequate crude inventories," while "sufficient stocks of petrol and diesel are being maintained," and retail outlets are functioning normally nationwide."Don't believe in rumors. We have adequate fuel stocks, and the government is making all efforts to provide them to consumers," she...

New Delhi, March 25 The Ministry of Power is believed to have directed imported coal-based thermal plants to operate at full capacity for three months from April 1, in order to avoid any electricity shortage amid the estimated peak demand of 270GW during this summer.Sources said that in letters sent to imported coal-based plants in the country, the power ministry invoked Section 11 of the Electricity Act, asking them to run at full capacity.The step has been taken to ensure optimal power availability, considering the prevailing demand-supply scenario and the expected rise in electricity demand in the coming months, according to the letter.The ministry has estimated the peak power demand to be over 270GW during this summer season...

New Delhi, March 25—India's rapid transition to renewable energy is no longer just an environmental priority—it has become a cornerstone of economic resilience, strategic autonomy, and long-term energy security.As global energy markets face repeated disruptions, India's aggressive push toward clean energy is positioning the country as one of the fastest-growing renewable powerhouses in the world.The country has already surpassed a critical milestone, with 51.93 percent of its installed power capacity now coming from non-fossil fuel sources, exceeding its initial 50 percent target ahead of schedule. This marks a decisive shift away from coal and imported oil, reflecting a structural transformation in India's energy mix.A decade of...

Over 88% of Indian Railways Reserved Tickets Booked Online in FY 2025–26 New Delhi, March 25, 2026 – Online train ticket bookings through IRCTC have surged in FY 2025–26, with over 48.25 crore tickets, or 88% of total reserved bookings, made digitally until February, the government informed Parliament.Key highlights:Ease of travel: The online ticketing system has reduced the need to visit reservation counters, saving passengers time and cost. Convenience fee: IRCTC levies a nominal convenience fee to cover expenses related to the maintenance, upgradation, and expansion of the online ticketing infrastructure. Fraud prevention: From July 1, 2025, Tatkal tickets can only be booked online by Aadhaar-authenticated users, limiting fake...

India Sees Improved Flight Connectivity from Middle East; Over 426,000 Passengers Repatriated New Delhi, March 25, 2026 – The Ministry of External Affairs (MEA) reported that flight operations from Middle Eastern countries to India are gradually improving, with additional unscheduled and scheduled flights operating from the region.Key updates include:UAE: Around 80 flights are expected to operate to India on Wednesday, with airlines running limited unscheduled flights based on operational considerations. Saudi Arabia and Oman: Flights continue to operate, with special unscheduled flights by carriers like Jazeera Airways and Gulf Air to facilitate travel for Indian nationals. Qatar: With partial reopening of Qatari airspace, Qatar...

Government Assures Adequate LPG, Petrol, and Diesel Supply Amid Geopolitical Concerns New Delhi, March 25, 2026 – The government has confirmed that LPG, petrol, and diesel supplies are sufficientnationwide and urged citizens not to panic buy.Key updates from the inter-ministerial briefing include:LPG Supply: Normal domestic LPG cylinder distribution continues. Partial commercial LPG supply of up to 20% has been restored, with an additional 10% allocation proposed under PNG expansion reforms. Citizens are encouraged to use digital modes for bookings. Petrol and Diesel: All refineries are operating at full capacity, maintaining adequate stocks for normal consumption. Retail outlets are functioning normally across the country...