Business

Indian Stock Market Opens Strong as Sensex Surges Over 1,500 Points Amid Easing Middle East Tensions Benchmark Indices Rally in Early Trade Mumbai, March 24: Indian equity markets opened sharply higher on Tuesday, driven by optimism around easing geopolitical tensions in the Middle East. The upbeat sentiment followed remarks by US President Donald Trump indicating a possible delay in military action against Iran.The BSE Sensex climbed as much as 1,516 points, or 2 percent, to touch an intraday high of 74,212. The NSE Nifty also posted strong gains, opening at 22,878, up 365.80 points or 1.62 percent.Broad-Based Buying Across Sectors Market gains were widespread, with all sectoral indices trading in positive territory. Consumer...

KOSPI Trims Gains Despite Easing US-Iran Tensions; Won Rebounds Sharply Seoul Stocks Pare Early Surge Amid Foreign Selling Pressure Seoul stocks gave up a portion of their early gains on Tuesday morning, even as easing military tensions between the United States and Iran lifted global sentiment.The benchmark Korea Composite Stock Price Index (KOSPI) rose 45.02 points, or 0.83 percent, to 5,450.77 as of 11:20 a.m. However, the index had surged more than 4 percent at the opening bell before trimming gains, as foreign investors turned sellers in the broader market.Global Cues Support Sentiment After US Delays Iran Strikes Overnight, major U.S. stock indexes ended higher after U.S. President Donald Trump indicated plans to postpone...

NeuEN Wins Contract to Supply 10KTPA Green Hydrogen to Numaligarh Refinery BPCL and Sembcorp Joint Venture to Build Green Hydrogen Facility in Assam New Delhi, March 24: NeuEN Green Energy Pvt. Ltd, a 50:50 joint venture between Bharat Petroleum Corporation Limited and Sembcorp Green Hydrogen India Private Ltd, has secured a contract to supply 10,000 tonnes per annum of green hydrogen to Numaligarh Refinery Ltd.Under the agreement, NeuEN will develop a green hydrogen production facility at NRL’s refinery in Assam. The project will be backed by a long-term offtake arrangement, ensuring sustained supply and operational stability, according to a company statement.Commercial Operations Targeted for 2028 The green hydrogen project is...

South Korea Enforces Five-Day Vehicle Restrictions Amid Oil Supply Concerns Government Tightens Energy Measures as Middle East Tensions Persist Seoul, March 24: South Korea will strictly enforce a mandatory five-day vehicle restriction system across the public sector as it prepares for potential disruptions in oil supply linked to ongoing tensions in the Middle East, the Ministry of Climate, Energy and Environment said on Tuesday.Monitoring and Penalties to Ensure Compliance Beginning Wednesday, authorities will intensify monitoring of compliance with the five-day driving restriction system. Under this rule, vehicles are divided into five groups based on license plate numbers, with each group barred from operating on a designated...

Gold Prices Extend Losing Streak to 10 Days Amid Ongoing Iran War Uncertainty Bullion Decline Deepens Despite Temporary Pause in US Strike Plans Gold prices continued their downward trajectory for the tenth consecutive session as uncertainty surrounding the Iran conflict weighed heavily on investor sentiment. The precious metal has now declined nearly 17 percent since the onset of the war in late February, marking one of its sharpest corrections after a prolonged rally.In the latest trading session, bullion dropped as much as 1.8 percent after briefly rising close to 1 percent earlier in the day. The volatile movement reflected broader market trends, with gold tracking equity performance and moving inversely to oil prices.Mixed...

Bhopal, March 23 – The Madhya Pradesh government on Monday allocated 9 per cent of commercial gas to hotels and restaurants and 7 per cent to dhabas and street food vendors, amidst the West Asia crisis, officials said.The move came after the Indore-Bhopal chapter of the National Restaurant Association of India (NRAI) met with Additional Chief Secretary of the Food and Civil Supplies Department, Rashmi Arun Shami, a day earlier, they added.During the meeting, the delegation led by NRAI MP president Abhishek Baheti, urged immediate availability of commercial gas, citing the restaurant and hospitality sector's dependence on it, Dharmendra Sharma, president of the Confederation of All India Traders (CAIT) MP, told

New Delhi, March 23 Power solutions provider Powerica Ltd raised Rs 329.40 crore from anchor investors on Monday, a day before its initial public offering (IPO) opens for subscription.Shares were allocated to several institutional investors, including SBI Mutual Fund (MF), HDFC MF, ICICI Prudential MF, Quant MF, Bandhan MF, and insurance companies such as Kotak Life, Edelweiss Life, and Reliance Nippon Life, according to a circular uploaded on the BSE website.According to the circular, the company finalized the allocation of 83,39,239 equity shares to anchor investors at Rs 395 per share. The total allocation amounts to approximately Rs 329.40 crore.Powerica's maiden public offering of Rs 1,100 crore will open for subscription on...

New Delhi, March 23 The government on Monday restored full benefits under the RoDTEP scheme to exporters until March 31 amidst the ongoing West Asia crisis disrupting global trade.Last month, the government halved the rate of duty benefits under the Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme. The exporting community expressed disappointment and had sought reconsideration of the decision."The RoDTEP rates and value caps as specified…as applicable on February 22, 2026, are hereby restored with effect from February 23, 2026, to March 31, 2026, for all eligible export products," the Directorate General of Foreign Trade (DGFT) said in a notification.The Remission of Duties and Taxes on Exported Products (RoDTEP)...

Mumbai, March 23 According to the Reserve Bank of India's bulletin released on Monday, foreign banks have experienced a higher transmission of monetary easing in both fresh and outstanding deposit and lending rates compared to their domestic counterparts.The data in the bulletin showed that foreign banks saw a 1.06 per cent monetary transmission on outstanding deposits between February 2025 and January 2026, compared to 0.43 per cent for domestic private banks and 0.41 per cent for public sector banks.For fresh deposits, foreign banks saw a 1.10 per cent monetary transmission, compared to 0.87 per cent and 0.88 per cent for private banks and public sector banks, respectively, according to the bulletin.On the lending side, foreign...

New Delhi, March 23 The Coal India board gave the go-ahead on Monday for divesting up to 25 per cent of its stake in the subsidiary, South Eastern Coalfields Ltd (SECL), through an Offer for Sale (OFS), along with a fresh issuance of up to 10 per cent equity through an initial public offer or other market routes.The decision was made at the CIL board meeting held on Monday.The proposed divestment and fresh issue, totaling up to 35 per cent of SECL's post-issue paid-up equity capital, will be executed in one or more tranches in the domestic market."Further, the CIL Board, at its meeting held on 23.03.2026, has, inter alia, accorded in-principle approval for the divestment of up to 25 per cent of equity shares held by Coal India...

Mumbai, March 23 – The Securities and Exchange Board of India (SEBI) on Monday adopted a disclosure framework requiring top officials to disclose their assets and recuse themselves from related decision-making, almost two years after allegations surfaced against former chief Madhabi Puri Buch.The SEBI board on Monday approved several recommendations of a high-level committee on "conflict of interest," which was formed immediately after current chairman Tuhin Kanta Pandey took office.Buch, whose term ended in early 2025, faced allegations of potential conflicts of interest and non-disclosure during her tenure, making her the first market regulator chief to face such allegations while in office. Pandey, her successor, appointed the...

New Delhi, March 23 Sai Parenteral's Ltd, a diversified pharmaceutical formulation company, raised over Rs 122 crore from anchor investors on Monday, a day before its initial public offering (IPO) opens for subscription.Morgan Stanley Asia (Singapore) Pte Ltd, Kotak Lifesciences Fund, Quant Mutual Fund, Kotak Mahindra Life Insurance Company, and India Emerging Giants Funds Ltd are the anchor investors, according to a circular uploaded on the BSE website.The Hyderabad-based company has allotted 31,28,485 equity shares to these funds at Rs 392 apiece, which is also the upper price band for the IPO. This brings the total transaction size to Rs 122.63 crore.The company's maiden public offering will open for subscription on March 24...

New Delhi, March 23 Basmati rice exporter Amir Chand Jagdish Kumar (Exports) Ltd raised Rs 60 crore from anchor investors ahead of its initial public offering (IPO).Rajasthan Global Securities, Lords Multigrowth Fund, and Chanakya Opportunities Fund I are the anchor investors, according to a circular uploaded on the BSE website.The company allotted 28,30,380 equity shares to these funds at Rs 212 each, which is also the upper price band for the IPO. This totals the transaction to Rs 60 crore.The company's maiden public offering (IPO), worth Rs 440 crore, will open for subscription on March 24 and conclude on March 27. The price band has been set at Rs 201-212 per share, valuing the company at Rs 2,200 crore.The Haryana-based...

New Delhi, March 23 DBS Bank India announced the launch of its direct tax payment facility on Monday, following authorization from the Central Board of Direct Taxes (CBDT).The bank will now be able to collect direct tax payments on the TIN 2.0 platform, in addition to its existing capability to collect Goods and Services Tax (GST) payments, the bank said in a statement.Customers can conveniently make payments for income tax, advance tax, self-assessment tax, capital gains tax, and Tax Deducted at Source (TDS) directly from their bank accounts, it said.With the wider adoption of digital infrastructure such as the TIN 2.0 portal, the environment for tax compliance has become more enabling by improving the ease of making payments and...

New Delhi, March 23 IndiGo, the country's largest airline, announced on Monday the appointment of former Air India Express Managing Director Aloke Singh as its Chief Strategy Officer.The appointment comes two weeks after the sudden resignation of IndiGo's CEO, Pieter Elbers.Singh, a veteran of the aviation industry who led Air India Express for over five years, will now report to IndiGo's Managing Director, Rahul Bhatia. Once the new CEO takes over, Singh will start reporting to that person.The board of InterGlobe Aviation, which operates the airline under the name IndiGo, approved Singh's appointment on Monday.On March 2, Singh told the Air India Express staff that he was departing the airline after his tenure ends on March 19...

New Delhi, March 23 – To promote ease of doing business and reduce compliance burden, the government on Monday proposed a series of amendments to the Companies and LLP laws, including changes in CSR norms, decriminalisation of procedural defaults, flexibility in share buybacks, and relaxations for small firms.Simplifying M&A procedures, allowing companies to hold AGMs in hybrid mode, enabling the constitution of multi-disciplinary partnership firms, giving more powers to regional directors, and enabling the setting up of special NCLT benches to hear specific matters under the Companies Act and the Insolvency and Bankruptcy Code (IBC) are among the other proposals.Finance and Corporate Affairs Minister Nirmala Sitharaman introduced...

Bhopal, March 23 Senior Bharatiya Janata Party leader and former MP, Jaibhan Singh Pawaiya, assumed the role of Chairman of the Madhya Pradesh State Finance Commission on Monday.Pawaiya told reporters that he planned to conduct field visits after understanding the Commission's working methods and objectives."A report will be prepared after studying the financial development of urban and panchayat bodies. Special attention will be paid to how the state's taxes should be distributed among urban and panchayat bodies, so that equitable and balanced development can be ensured in every region," he said.He took over after performing rituals and offering prayers at Vallabh Bhawan, the state secretariat, in the presence of Deputy Chief...

New Delhi, March 23 The capital markets regulator, Sebi, on Monday eased certain reporting requirements by removing the mandatory reporting of demat accounts and relaxing norms for bank account disclosures.The changes are aimed at enhancing regulatory efficiency, as well as to promote ease of doing business for brokers, by harmonizing and relaxing reporting obligations.Under the revised framework, stock brokers who are also banks or primary dealers will be required to report only those bank accounts to the stock exchanges that are used for their stock broking activities.Furthermore, demat accounts maintained by stock brokers will continue to be appropriately tagged, but the requirement will not apply to those used exclusively for...

Mumbai, March 23 The Securities and Exchange Board of India (Sebi) board on Monday approved a proposal for a comprehensive overhaul of the "fit and proper person" framework for market intermediaries to bring greater procedural clarity and fairness to the regulatory process.The proposal includes removing the automatic disqualification triggered by the filing of First Information Reports (FIRs), complaints, or charge sheets in economic offence cases."The rule-based criteria of pendency of a criminal complaint / FIR filed by Sebi or a charge sheet concerning economic offences shall, by itself, not be a ground for automatic disqualification. However, the existing principle-based criteria shall apply on a case-by-case basis," the...

On March 23 in Rajayyapeta (Andhra Pradesh), Andhra Pradesh Chief Minister N Chandrababu Naidu laid the foundation for the Rs 1.36 trillion ArcelorMittal Nippon Steel India steel plant here in Nakkapalli mandal of Anakapalli district.With a capacity of 17.8 million tonnes per year, the plant will be built in two phases across 5,465 acres and is expected to create 100,000 direct and indirect jobs, according to the government."We have not just laid the foundation for a steel plant, but for a steel city," Naidu said, adding that the largest steel plant in India is coming to the southern state.Observing that the foundation laid today will gain momentum from March 24, the CM assured that cold rolled steel production will begin by...