Business

Indian LPG Carriers Pine Gas and Jag Vasant Safely Transit Strait of Hormuz Amid Regional Tensions Vessels Carrying Over 92,000 Metric Tonnes of LPG Headed to Indian Ports New Delhi, March 24: The government confirmed that two Indian LPG carriers, Pine Gas and Jag Vasant, have successfully crossed the Strait of Hormuz and are currently en route to India, ensuring continuity in fuel supplies amid ongoing geopolitical tensions in West Asia.Rajesh Kumar Sinha, Special Secretary in the Ministry of Ports, Shipping and Waterways, stated during an inter-ministerial briefing that Pine Gas is scheduled to reach New Mangalore port on March 27 with a cargo of 45,000 metric tonnes of LPG.Jag Vasant, carrying 47,600 metric tonnes of LPG, is...

Sterlite Electric Appoints Frederic Trefois as Group CEO to Lead Next Growth Phase New Delhi, March 24: Sterlite Electric on Tuesday announced the appointment of Frederic Andre M Trefois as its Group Chief Executive Officer, marking a leadership transition as the company prepares for its next phase of growth in the power transmission and distribution sector.Trefois was previously serving as an independent, non-executive director on the company’s board, according to an official statement. With extensive experience in managing and overseeing companies, he is set to steer Sterlite Electric’s strategic direction amid evolving global energy demands.Leadership Backed by Global Industry Experience Commenting on the appointment, Pratik...

SEBI Proposes Gift Cards for Mutual Fund Investments to Boost Financial Inclusion New Delhi, March 25: The Securities and Exchange Board of India (SEBI) has proposed the introduction of gift cards or gift prepaid payment instruments (PPIs) for investing in mutual funds, aiming to widen investor participation and enhance financial inclusion.Gift PPIs to Enable Gifting of Mutual Fund Investments According to SEBI’s consultation paper released on Tuesday, individuals will be able to purchase Gift PPIs and transfer them to recipients, who can then use these instruments to subscribe to mutual fund units. The move is designed to simplify onboarding of new investors into the mutual fund ecosystem.Funding, Validity, and Investment Cap...

Delhi Budget 2026-27: ₹3,942 Crore Allocated to Power Sector, Focus on Subsidies and Infrastructure Upgrade ₹3,500 Crore Earmarked for Power Subsidy New Delhi, March 24: The Delhi Budget 2026-27, presented by Chief Minister Rekha Gupta in the Assembly, allocates ₹3,942 crore to the power department, with a significant portion directed towards consumer subsidies and infrastructure development.Out of the total allocation, ₹3,500 crore has been earmarked for power subsidy payments. The government continues its existing subsidy framework, under which households consuming up to 200 units of electricity receive full subsidy, while those consuming between 201 and 400 units are eligible for a 50 percent subsidy.Push for Solar Energy and...

NeuEN Wins Numaligarh Refinery Green Hydrogen Tender at Record Low Price of ₹279/kg New Delhi, March 24: NeuEN Green Energy, a joint venture between Bharat Petroleum Corporation Limited (BPCL) and Sembcorp Green Hydrogen India, has secured a major contract to supply green hydrogen to Numaligarh Refinery Ltd (NRL) at the lowest price discovered in India to date.Record-Breaking Green Hydrogen Price Discovered The company won the tender to supply 10,000 tonnes per annum of green hydrogen at a price of ₹279 per kg, marking a new benchmark in India’s green hydrogen sector. According to sources, competing bids in the tender were close, at ₹280 and ₹281 per kg, reflecting increasing cost competitiveness and market maturity.Green Hydrogen...

Escorts Kubota Secures 154 Acres in YEIDA for New Manufacturing Plant New Delhi, March 24: Farm and construction equipment manufacturer Escorts Kubota on Tuesday announced that it has been allotted a 154-acre land parcel by the Yamuna Expressway Industrial Development Authority (YEIDA) to establish a new manufacturing facility.Greenfield Project Planned in Sector-10 According to a regulatory filing, the allocated land is situated in Sector-10 of the YEIDA Industrial Area. The proposed facility will be developed as a greenfield project, aimed at expanding the company’s production capacity.The company stated that the new plant is part of its broader strategy to strengthen manufacturing capabilities, though specific operational...

Rupee Falls 35 Paise to 93.88 Against US Dollar Amid Strong Greenback and Crude Price Concerns Mumbai, March 24: The Indian rupee weakened by 35 paise to close at 93.88 (provisional) against the US dollar on Tuesday, pressured by a strengthening dollar and elevated global crude oil prices that unsettled investor sentiment.Dollar Strength and Oil Prices Weigh on Rupee Forex traders indicated that persistent foreign fund outflows, coupled with uncertainty surrounding the West Asia crisis, continued to exert pressure on the domestic currency. A stronger US dollar against major global currencies further dampened the rupee’s outlook.At the interbank foreign exchange market, the rupee opened at 93.66 against the dollar and witnessed...

Indian Stock Market Closes Higher as Nifty Surges 400 Points, Sensex Gains Over 1,300 Auto and Banking Stocks Lead Broad-Based Rally Mumbai, March 24: Indian equity markets ended Tuesday’s session on a strong footing, with benchmark indices closing near their intraday highs, supported by robust buying in auto and banking stocks.The upbeat momentum was further aided by improving investor sentiment amid expectations of easing geopolitical tensions between the United States and Iran, even as signals from both sides remained mixed.Nifty and Sensex Post Strong Gains The Nifty index surged 399.75 points, or 1.78 percent, to settle at 22,912.40. The Sensex followed suit, rising 1,372.06 points, or 1.89 percent, to close at 74,068.45.The...

Mahanagar Gas Assures Uninterrupted PNG Supply, Announces Incentives for New Users Amid LPG Concerns Mumbai, March 24: As liquefied petroleum gas (LPG) users grapple with challenges linked to the ongoing Middle East conflict, piped natural gas provider Mahanagar Gas Ltd (MGL) on Tuesday assured consumers of uninterrupted supply while unveiling a series of limited-period incentives aimed at expanding its customer base.Free Gas and Discounts for New Residential Users In a move to encourage adoption of piped natural gas (PNG), MGL announced that all new domestic registrations between March 16 and April 30 will be eligible for free gas worth ₹500.Additionally, customers in newly connected residential buildings with a penetration level...

J&K Hosts Agro and Food Fest Buyer-Seller Meet to Boost Global Market Access Event Aims to Strengthen Export Opportunities for Regional Products Srinagar, March 24: A two-day Agro and Food Fest Buyer-Seller Meet commenced in Jammu and Kashmir on Tuesday, aimed at promoting the Union Territory’s agricultural products and enhancing market linkages.The event is being jointly organised by the Trade Promotion Council of India (TPCI) and the Jammu and Kashmir Trade Promotion Organisation (JKTPO) at the Sher-e-Kashmir International Convention Centre (SKICC), bringing together key stakeholders from the agro and food industry.Platform for Farmers, Exporters and Global Buyers Officials stated that the meet is designed to provide a direct...

India Media and Entertainment Sector Hits ₹2.78 Trillion in 2025, Digital Media Leads Growth Industry Enters Phase of Digital Expansion and Structural Transformation New Delhi, March 24: India’s media and entertainment (M&E) sector entered a defining phase of scale, digital dominance, and structural transformation in 2025, reaching ₹2.78 trillion with a growth rate of 9 per cent, according to a report by FICCI and EY. The sector’s expansion outpaced nominal GDP growth, reflecting strong momentum across digital and advertising-driven segments.Growth Outlook: ₹3.3 Trillion by 2028 The report projects continued expansion, with the industry expected to grow to ₹2.86 trillion (USD 32.9 billion) in 2026 and further to ₹3.3 trillion (USD...

Delhi Budget 2026-27: Rekha Gupta Unveils “Green Budget” With ₹22,236 Crore Allocation for Sustainable Development New Delhi, March 24: Delhi Chief Minister Rekha Gupta on Tuesday presented the 2026-27 budget as a “green budget,” placing strong emphasis on sustainability, pollution control, and environmental restoration. The government has earmarked 21.44% of the total outlay, amounting to ₹22,236 crore, for green development initiatives.Significant Increase in Environment Spending The allocation for the environment and forest sectors has seen a sharp rise, increasing to ₹822 crore from ₹505 crore in the previous financial year, marking a 62.7% growth.Highlighting the government’s commitment, Gupta said the aim is to restore Delhi’s...

Opposition Targets Government Over Foreign Policy, Economy in Lok Sabha Debate on Finance Bill 2026 Sharp Political Divide Emerges During Finance Bill Discussion New Delhi, March 24: A heated debate unfolded in the Lok Sabha on Tuesday as opposition leaders accused the government of compromising India’s strategic autonomy and mishandling the economy, while members of the ruling alliance defended the Finance Bill 2026 as a roadmap for inclusive growth and national development.Opposition Flags Concerns on Foreign Policy and Investment Trends Participating in the discussion, Congress MP Manish Tewari raised concerns over declining foreign direct investment (FDI) and foreign portfolio investment (FPI), stating that the economy is not...

India Exports Show Steady Growth Amid Global Uncertainty, Parliament Informed New Delhi, March 24: India’s export sector has demonstrated sustained resilience and steady growth despite ongoing global challenges, the government informed Parliament on Tuesday, highlighting a consistent upward trajectory in both the current financial year and the past few years.Exports Rise 5.26% in FY26 (April–January Period) During April to January of FY 2025–26, India’s total exports, including merchandise and services, grew by 5.26 per cent to reach $714.73 billion, up from $679.02 billion in the corresponding period of the previous year.Minister of State for Commerce Jitin Prasada shared these figures in the Lok Sabha, noting that the growth comes...

Airtel Broadband Outages in Noida Persist for Over a Month, Residents Consider Switching Providers Frequent Internet Disruptions Reported in Sector 143 New Delhi/Noida, March 24: Airtel broadband users in parts of Noida, particularly Sector 143, are facing repeated and extended service outages, with disruptions lasting up to 6 to 7 hours daily for over a month. The ongoing issue has led to growing dissatisfaction among residents, many of whom are now considering switching to alternative internet service providers.Residents say the problem has intensified since early February, severely affecting daily routines and work commitments.Residents Voice Frustration Over Prolonged Downtime Deb, a resident of Gulshan Ikebana society in Sector...

Government Plans to Cut Broken Rice Share in PDS to Boost Ethanol Supply New Delhi, March 24: The Indian government is preparing to reduce the proportion of broken rice distributed through the Public Distribution System (PDS) from 25% to 10%, a move expected to free up nearly 90 lakh tonnes annually for ethanol production. The proposal was announced by Food Secretary Sanjeev Chopra at the All India Distillers' Association conference on Tuesday.Stable Feedstock Supply for Ethanol Sector The proposed shift is aimed at ensuring a consistent and reliable supply of feedstock for the ethanol industry, reducing its dependence on whole grain stocks held by the Food Corporation of India. Chopra emphasized the importance of building resilient...

Kerten Hospitality Enters India with 1,000-Key Expansion Plan Across Three Brands New Delhi, March 24: Ireland-based Kerten Hospitality has officially announced its entry into the Indian market, marking a significant step in its global expansion strategy. The company plans to launch operations with an initial portfolio of 1,000 keys in the first phase, introducing three of its brands: The House Hotel, Cloud7 Hotels, and HOSME.India Identified as a Strategic Growth Market Kerten Hospitality highlighted India as a key market aligned with its long-term vision of expanding into high-growth destinations. The company aims to tap into the country’s rapidly evolving hospitality sector, which continues to attract global players.According to...

Maruti Suzuki to Invest ₹10,189 Crore in New Gujarat Plant, Targets 2.5 Lakh Annual Capacity New Delhi, March 24: Maruti Suzuki India on Tuesday announced a major expansion plan, with its board approving an investment of ₹10,189 crore to establish the first phase of a new manufacturing facility in Gujarat.First Phase Capacity Planned at 2.5 Lakh Units Annually The company said the initial phase of the plant, located at Khoraj Industrial Estate, will have an annual production capacity of 2.5 lakh vehicles. This will mark Maruti Suzuki’s fifth manufacturing facility in India.According to the regulatory filing, the first phase is expected to be operational by 2029, subject to market conditions.Investment to Be Funded Through Internal...

Maharashtra Congress Opposes Move to Transfer Haffkine’s DPT Vaccine Strain to Private Firm Concerns Raised Over Public Health and Vaccine Affordability Mumbai, March 24: Maharashtra Congress Legislature Party leader Vijay Wadettiwar on Tuesday opposed the reported move to transfer a rare and historically significant DPT vaccine strain from the Haffkine Institute to a private company, warning that the decision could impact public health and increase vaccine costs for the poor.Raising the issue in the state assembly through a point of information, Wadettiwar questioned the process initiated after a proposal from Reliance Life Sciences to procure the Diphtheria, Pertussis, and Tetanus vaccine strain. He also raised concerns about the...

Petroleum Industry Pushes Ethanol as Clean Cooking Fuel to Reduce LPG Imports Focus on Household Energy Transition Gains Momentum New Delhi, March 24: The petroleum industry has called on stakeholders to accelerate the development of ethanol as a clean cooking fuel for Indian households, aiming to reduce dependence on imported liquefied petroleum gas (LPG) and expand the country’s biofuel ecosystem.The appeal was made by R S Ravi, Director (Downstream) at the Federation of Indian Petroleum Industry (FIPI), during the All India Distillers' Association (AIDA) conference on Tuesday. He highlighted ongoing efforts to design ethanol-based cooking solutions and stressed the need for industry-wide collaboration.Ethanol Stove Development...