Business

LPG Booking Timelines Remain Unchanged, Government Says Ministry of Petroleum and Natural Gas Responds to Misinformation New Delhi – The government on Wednesday dismissed reports claiming changes in LPG refill booking timelines, describing them as misleading and unfounded. The Ministry of Petroleum and Natural Gas (MoPNG) issued a statement clarifying that no revisions have been made to the existing refill booking norms for LPG connections.The ministry responded to media reports and social media posts that falsely claimed refill booking timelines had been altered. Specifically, these reports alleged a 45-day timeline for Pradhan Mantri Ujjwala Yojana (PMUY) beneficiaries, 25 days for non-PMUY single-cylinder users, and 35 days for...

Sensex and Nifty Surge Over 2% Amid Global Optimism Mumbai, March 25 – The benchmark indices Sensex and Nifty recorded significant gains on Wednesday, rising by over 2%. The upward trend was fueled by a decline in crude oil prices and positive momentum in Asian markets, driven by hopes of de-escalation in the West Asia conflict.The 30-share BSE Sensex climbed 1,667.14 points, representing a 2.25% increase, closing at 75,735.59. The 50-share NSE Nifty rose 522.35 points, marking a 2.27% gain and ending the day at 23,434.75.Among the top gainers on the Sensex, Titan, Mahindra & Mahindra, Trent, UltraTech Cement, HDFC Bank, and Bajaj Finance saw notable increases. Tech Mahindra was the sole laggard during the trading session.Brent...

Laxyo Ltd Files IPO Papers to Raise Rs 150 Crore IPO Details Laxyo Ltd, a railway infrastructure and EPC services provider, has filed preliminary papers with market regulator Sebi to launch an Initial Public Offering (IPO). The IPO is entirely a fresh issue of equity shares, with no Offer For Sale component.Funding Allocation The company intends to utilize the proceeds from the IPO as follows:Debt repayment: Rs 70 crore Purchase of equipment: Rs 9.75 crore Working capital requirements: Rs 23 crore General corporate purposes: Rs 37.25 croreA pre-IPO placement of up to Rs 30 crore may also be considered.Company Overview Laxyo Ltd, headquartered in Indore, commenced operations in 2007. It operates across railway infrastructure...

STT Increase Expected to Have Limited Short-Term Impact on Derivatives Market Mumbai, March 25 – A proposed increase in Securities Transaction Tax (STT) on derivatives, effective April 1, is anticipated to have a limited short-term impact on trading activity, with long-term market behavior expected to remain largely unchanged, according to market experts. The revised STT rates, announced in the Union Budget 2026-27, will see the tax on futures contracts more than doubled to 0.05 percent from 0.02 percent, and STT on options premiums and exercise increased to 0.15 percent and 0.125 percent, respectively. The government’s stated aim is to curb excessive speculation in the derivatives segment, particularly among retail investors. Experts...

India’s Infrastructure Transformation Driven by Public Spending and Private Investment Government Investment Surge Fuels Growth New Delhi, March 25 – India’s infrastructure transformation is being driven by a significant increase in public capital expenditure and a maturing financial ecosystem, according to a new report. Government investment has risen from ₹2 lakh crore in FY15 to a budgeted ₹12.2 lakh crore for FY27.Private Investment Boosted The report by India Narrative stated that the six-fold increase in public spending has spurred private investment and stimulated demand for core industries such as steel and cement. This shift has positioned India as the largest recipient of private participation in infrastructure in South...

India’s Workforce Projected to Expand by 4.7% in First Half of FY27 Mumbai, March 25 – India’s workforce is projected to expand by 4.7 per cent in the first half of fiscal year 2027, according to a report released on Wednesday. The growth is primarily fueled by expansion within key sectors including e-commerce, tech startups, healthcare, pharmaceuticals, and manufacturing. The report, issued by TeamLease Services, highlights a significant shift in employment growth dynamics. Large enterprises are leading the charge, with 74 per cent indicating plans for expansion, compared to 57 per cent of mid-sized firms and 38 per cent of small businesses. This suggests a recovery in employment growth driven by scale. TeamLease Services’ Employment...

IKS Health and Certilytics Expand Partnership to Drive Healthcare Efficiency Mumbai, Maharashtra, India & Dallas, Texas, United States – Business Wire IndiaIKS Health, a global leader in care enablement solutions, and Certilytics, Inc., an innovator in AI-driven healthcare intelligence, have expanded their strategic partnership to address administrative friction, enhance member engagement, and deliver price transparency. The collaboration combines IKS Health’s Agentic Care Enablement Platform with Certilytics’ BrainstormAI® Studio and CertHLM™, creating a unified system for managing complex clinical tasks.The partnership focuses on three key strategic use cases: prior authorization transparency, member engagement, and consumer price...

Crude Oil Prices Drop Amid Ceasefire Hopes, Offering Temporary Relief to India New Delhi, March 25 – International crude oil prices experienced a significant decline on Wednesday, driven by growing hopes for a ceasefire in the West Asia region. Brent crude futures fell by 7 per cent to a day’s low of $97.18 per barrel, while US WTI crude dropped by over 6 per cent to $86.72 as of 10:40 AM. Impact on India’s Macroeconomic Indicators Experts suggest the recent correction in crude prices could provide some relief to India’s macroeconomic indicators, including inflation and the Current Account Deficit (CAD). Analysis indicates that every $10 per barrel movement in crude typically impacts the CAD by 0.3–0.5 percentage points of the GDP and...

Andhra Pradesh Urges Renewable Energy Investors to Expedite Project Completion Amaravati, March 25 – Andhra Pradesh Energy Minister Gottipati Ravi Kumar has called on investors to accelerate the implementation of renewable energy projects and ensure timely commissioning.During a review meeting held at the Secretariat with representatives of Brookfield-Axis and officials from the New and Renewable Energy Development Corporation of Andhra Pradesh Limited (NREDCAP), Minister Kumar assessed the progress of renewable energy projects at various stages of construction across the state.The Minister emphasized the need to accelerate project execution and urged investors to prioritize timely completion while swiftly moving towards...

India Prioritizes Citizen Safety and Energy Security Amid West Asia Crisis New Delhi, March 25 – As the situation in the West Asia continues to evolve, the Indian government is implementing a multi-faceted strategy focused on safeguarding its citizens, ensuring critical supplies, and bolstering long-term energy security.Citizen Protection and Repatriation Efforts Prime Minister Narendra Modi has emphasized the safety of Indian nationals as the government’s primary concern. More than 3.75 lakh Indians have been repatriated from conflict zones, including over 700 medical students from Iran. The government is providing comprehensive assistance and medical care to affected families. The Prime Minister has personally held two rounds of...

Maruti Suzuki Plans 35% Rail-Based Vehicle Dispatches by FY31 Company Targets Sustainable Logistics Expansion New Delhi – March 25 – Maruti Suzuki India Ltd announced plans to significantly increase its reliance on rail-based vehicle dispatches, aiming for a 35 per cent share by fiscal year 2030-31. This represents a substantial rise from the current 26 per cent.Manesar Railway Siding Reaches Milestone The company’s Manesar in-plant railway siding has successfully completed 100,000 vehicle dispatches since commencing operations in June 2025. This achievement has resulted in an estimated avoidance of 16,800 metric tonnes of carbon dioxide equivalent (CO2e).Decade of Rail Logistics Growth Maruti Suzuki’s share of rail mode in outbound...

Sundaram Home Finance Targets Rs 200 Crore in South Tamil Nadu Disbursements Chennai, March 25 – Sundaram Home Finance is expanding its emerging business segment in South Tamil Nadu, with plans to establish five new branches. The company aims to generate Rs 200 crore in disbursements within the region next year.Expansion Strategy The Chennai-based company recently inaugurated two new branches in the emerging business segment in Sankaran Koil and Ambasamudram as part of its expansion plans. Sundaram Home Finance diversified into the Emerging Business segment in October 2022, initially focusing on South Tamil Nadu. Over the past 3.5 years, the company has established 15 emerging business branches across the region, primarily around...

Tata Power Commissions Transmission Lines in Uttar Pradesh New Transmission Assets Boost Power Evacuation Capacity New Delhi, March 25 – Tata Power announced the commissioning of two key transmission lines in Uttar Pradesh, furthering the company’s expansion of its transmission network. The newly commissioned assets include a 400 Kilovolt (kV) Tanda–Gonda line and a 400kV Gonda–Basti double-circuit line, totaling 154 circuit kilometers (Ckm).Expanded Transmission Network The commissioning of these four transmission assets – the 765 kV Mainpuri–Bara Single Circuit Line, the 765 kV Mainpuri–Unnao Single Circuit Line, the 400 kV Tanda–Gonda line, and the 400kV Gonda-Basti double-circuit line – will facilitate the safe and reliable...

Gold and Silver Prices Surge Amid Easing West Asia Tensions Mumbai, March 25 – Gold and silver prices witnessed a significant increase on Wednesday, driven by easing tensions in the West Asia conflict.On the Multi Commodity Exchange (MCX), gold futures (April 2) rose as much as Rs 5,658, or approximately 4%, to a day’s high of Rs 1,44,570 per 10 grams by 10:26 am. The yellow metal later traded at Rs 1,44,410, up Rs 5,498, or 3.96%.Similarly, silver futures (May 5) jumped by around 6%, or Rs 13,228, hitting a day’s high of Rs 2,14,500 per kg during the session.In the international market, COMEX gold was trading at $4,633.17, up 4.48%, while COMEX silver rose by 7.5% to $74.8.Analysts indicated that MCX gold is currently trading...

India Poised for New Investment Cycle, Valuation Attractive Mumbai, March 25 – India is entering a new, long-duration investment cycle driven by manufacturing, infrastructure, and energy sectors, according to a report released on Wednesday by Emkay Global Financial Services. Domestic equities are currently trading at fair valuations compared to global peers. The Nifty 50 is trading at approximately 20.23 times TTM (trailing twelve months) P/E, well below its 1-year median of 22.30x and 10-year median of 23.50x. This valuation is supported by robust macroeconomic fundamentals, including an expected GDP growth of 7.3–7.5 per cent and steady earnings expansion. India’s valuation premium relative to emerging markets is underpinned by strong...

MSRTC Reintroduces 3x2 Seating Buses After Two Decades New Bus Service Launch The Maharashtra State Road Transport Corporation (MSRTC) has reintroduced 3x2 seating buses into its fleet after nearly two decades, officials announced. The move aims to improve passenger comfort and efficiency.The buses feature a 3x2 seating configuration, with a total capacity of 56 seats. Chief Minister Devendra Fadnavis launched the ‘Rajmata Jijau’ smart bus service with this facility at the state legislature complex in Mumbai on Tuesday.Deputy Chief Ministers Eknath Shinde and Sunetra Pawar, along with State Transport Minister Pratap Sarnaik, were present at the launch. The MSRTC stated that nearly 3,000 ‘Rajmata Jijau’ buses with a 3x2 seating...

India’s Resilient Growth Trajectory New Delhi, March 25 – India’s economy is expected to maintain its robust growth trajectory, with S&P Global projecting a GDP growth rate of 7.1 per cent for the fiscal year ending March 2027 (FY27). This projection underscores India’s position as one of the fastest-growing major economies globally, supported by strong domestic demand, steady exports, and a gradual recovery in private investment.Asia-Pacific Growth Outlook S&P Global’s report indicates that Asia-Pacific growth is holding up well, with India playing a key role alongside other major economies. The region’s growth (excluding China) is projected to improve to 4.5 per cent in 2026, driven by resilient domestic activity and strong...

S&P Global Ratings Raises India’s GDP Growth Forecast to 7.1 Percent New Delhi, March 25 – S&P Global Ratings on Wednesday raised India’s GDP growth forecast for the next fiscal year to 7.1 percent, citing robust private consumption, investment, and exports as key drivers. The rating agency’s assessment comes as the Middle East conflict presents a potential strain on the nation’s fiscal position due to anticipated increases in energy prices.Revised Growth Projections S&P Global Ratings projects real GDP growth to moderate to 7.1 percent in the fiscal year ending in March 2027, a decrease from the 7.6 percent projected for fiscal 2026. The agency highlights resilient private consumption, a modest recovery in private investment, and...

Sensex and Nifty Surge as Crude Oil Declines Amid Geopolitical Relief Mumbai, March 25 – The benchmark indices, Sensex and Nifty, continued their upward trajectory in early trading on Wednesday, bolstered by a sharp decline in crude oil prices and positive sentiment across Asian markets. The 30-share BSE Sensex jumped by 885.32 points to 74,953.77, while the 50-share NSE Nifty surged by 307.65 points to 23,220.05. Mahindra & Mahindra, UltraTech Cement, Adani Ports, HDFC Bank, Trent, and Eternal were among the top-performing stocks on the 30-share Sensex. Tech Mahindra and Infosys were the laggards. Brent crude, the global oil benchmark, experienced a 4.34 per cent decline, falling to USD 99.95 per barrel. Asian markets, including the...

Market Overview Mumbai, March 25 – The Indian rupee depreciated 18 paise to 93.94 against the US dollar in early trading on Wednesday, driven by sustained foreign fund outflows. However, a combination of factors, including a decline in global crude oil prices, a weaker dollar, and a positive performance in the domestic equity markets, limited the rupee’s decline.Rupee Movement The rupee opened at 93.94 against the US dollar, down 18 paise from its previous close. It had closed at 93.76 against the US dollar on Tuesday.“The dollar buying trend will continue unless the RBI sells the dollar because there is hardly any supply of dollars coming forward from other sources,” stated Anil Kumar Bhansali, Head of Treasury and Executive...