Business

InterGlobe Aviation Faces Profit Pressure Amid Volatile Oil Prices, Travel Disruptions New Delhi, March 23 – InterGlobe Aviation, the parent company of IndiGo, may face challenges to its net profit in the upcoming financial year due to fluctuating oil prices and travel disruptions related to the conflict in the Gulf, according to analysts at Goldman Sachs.Goldman Sachs Lowers InterGlobe Aviation Target Price Analysts at Goldman Sachs have reduced their target share price for InterGlobe Aviation to Rs 5,200 from Rs 6,000 previously – representing a 13.33 per cent decline. Goldman Sachs has maintained a ‘buy’ rating on the stock, highlighting IndiGo’s market leadership position.Reduced Profit Projections The analysts project almost no...

CoinDCX Co-founders Arrested in Alleged Fraud Investigation Thane, March 23 – Police in Thane, Maharashtra, have arrested CoinDCX co-founders Sumit Gupta and Neeraj Khandelwal in connection with an alleged fraud involving Rs 71.6 lakh, officials announced Monday.The arrests followed the registration of a First Information Report (FIR) on March 16 at the Mumbra police station. The FIR was filed against the CoinDCX co-founders and others on charges of cheating, criminal breach of trust, and fraud.A 42-year-old insurance advisor, the complainant, alleged he was defrauded of Rs 71.6 lakh between August 2025 and March this year. He was lured by promises of high returns through investment in a firm associated with the cryptocurrency...

Adani Green Energy Operationalizes 510 MW in Gujarat Khavda Projects Boost Renewable Capacity New Delhi, March 23 – Adani Green Energy announced the operationalization of 510 megawatts of power projects in Khavda, Gujarat, on Monday.The commissioning of these plants has increased the company’s total operational renewable generation capacity to 17,982.3 megawatts (MW), according to a filing with the stock exchange.The power projects, totaling 510.1 MW, were operationalized through Adani Green Energy’s subsidiary companies. Following relevant approvals, the decision to begin power generation was made on March 22.Adani Green Energy Ltd is one of the largest renewable energy companies in India.

Paytm Retained as Buy: Jefferies Projects Strong Revenue Growth, EBITDA Margin Expansion New Delhi – Paytm, operated by One 97 Communications, is expected to maintain its dominant position in the merchant payments platform, driving growth over the next two years, according to a Monday report from brokerage Jefferies. The brokerage retained its ‘Buy’ rating on the stock with a target price of Rs 1,350, projecting a 22 per cent compound annual growth rate (CAGR) in revenue between FY26 and FY28, alongside expansion in adjusted EBITDA margins.Jefferies highlighted Paytm’s merchant platform as rapidly emerging as the largest in India across both online and offline channels. The platform, currently supporting 45 million merchants, is...

Silver Prices Plunge to Lowest Futures Levels in India Silver Futures Drop Significantly New Delhi, March 23 – Silver prices experienced a sharp decline in futures trading on Monday, reaching their lowest levels in recent history. The price fell by Rs 20,409 to Rs 2.06 lakh per kilogram.Market Reaction On the Multi Commodity Exchange, silver for May delivery plummeted by Rs 20,409, or 9 per cent, to Rs 2,06,363 per kilogram, hitting its lower circuit limit.Analyst Insights Analysts attributed the significant drop to a combination of factors. Hareesh V, Head of Commodity Research at Geojit Investments Ltd, noted that escalating tensions in West Asia were overshadowed by broader macroeconomic pressures. “Profit-taking and liquidity...

Ratlami Sev Gains Global Recognition as MP Promotes GI Tag Ratlam, March 23 – Madhya Pradesh’s Minister for Micro, Small, and Medium Enterprises (MSMEs), Chetan Kumar Kashyap, has urged entrepreneurs to maximize the use of the Geographical Indication (GI) tag and actively promote Ratlami Sev products in both national and international markets.The crispy fried snack, originating from Ratlam, Madhya Pradesh, received its GI tag in 2014 and was successfully renewed in 2024. This certification confirms the product’s unique origins and highlights its distinctive qualities, safeguarding its authenticity and promoting regional heritage.Addressing the One District One Product (ODOP) summit in Ratlam on Sunday, Minister Kashyap emphasized...

Adobe Appoints Shamik Basu as Vice President, Creative Products Group in India Noida, India – Adobe announced the appointment of Shamik Basu as Vice President, Creative Products Group in India, bolstering the company’s commitment to local innovation and leadership. Mr. Basu will be based in Noida and will lead Adobe India’s engineering and product management teams, reporting to Ely Greenfield. He will also be a member of the company’s India leadership team, focused on driving growth and innovation within the country.“India is a priority market for Adobe and key to advancing intelligent, creator-first experiences at scale,” stated Ely Greenfield. He emphasized the critical role of India teams in design, imaging, video, and AI-led...

Brent Crude Prices Surge Amid Middle East Tensions Brent crude prices have risen significantly since the onset of conflict in the Middle East, increasing from approximately $70 per barrel to roughly $112 per barrel on Monday.Crude Oil Futures Rise on MCX On the Multi Commodity Exchange (MCX), crude oil prices for May futures increased by 0.65 per cent, reaching Rs 9,318 per barrel.WTI and Regional Oil Price Movements Over the past 30 days, crude prices have risen by approximately 56 per cent. US West Texas Intermediate (WTI) traded near $98.75 per barrel on Monday, following a rise of over 2 per cent in the previous session.Strait of Hormuz Concerns and Production Disruptions Escalating tensions in West Asia are threatening key...

Aluminium Prices Decline in Futures Trading New Delhi – Aluminium prices experienced a decrease in futures trading on Monday, dropping by Rs 2.80 to Rs 327.80 per kg. The decline was attributed to a weak trend observed in spot markets and reduced positions by traders.Futures Trading Details On the Multi Commodity Exchange, aluminium contracts for delivery in April saw a decrease of Rs 2.80, a 0.85% reduction, settling at Rs 327.80 per kg. This change occurred across 264 lots.Factors Influencing Price Drop Analysts noted that the primary driver of the lower aluminium prices was the reduction in positions by traders. This was largely due to easing demand from consuming industries.

Gold Futures Plunge to Rs 1.36 Lakh Amid Inflation Fears and Strong US Dollar Gold prices experienced a significant decline in futures trading, dropping by Rs 8,089 to Rs 1.36 lakh per 10 grams on Monday. This sharp decrease follows a global sell-off driven by rising inflation concerns and a firm US dollar.Market Performance On the Multi Commodity Exchange, gold for April delivery saw a substantial slump. The price decreased by Rs 8,089, representing a 5.6 per cent reduction, to close at Rs 1,36,403 per 10 grams.Last week, gold prices on the commodities exchange fell by Rs 13,974, or 8.82 per cent, to approximately Rs 1.44 lakh per 10 grams. Analysts predict the precious metal will extend its losing streak for a fourth consecutive...

India’s Interactive Media Market Surges, Microdramas Reach $300 Million India’s interactive media market has experienced rapid expansion, with microdramas emerging as a $300 million segment within a year, according to a report released on Monday.Microdramas Gain Traction The Lumikai report indicates that microdramas were virtually non-existent a year ago but have since gained popularity among mobile-first users seeking interactive and personalized content. Salone Sehgal, Founder and Managing Partner, Lumikai, stated that microdramas "crossed $300 million in their first year, signaling a fundamental shift toward mobile-native, interactive formats." The report projects that microdrama platforms could scale up to $4.5 billion by 2030...

Innovision Ltd Shares Debut at Over 10% Discount on Listing Day New Delhi, March 23 – Shares of Innovision Ltd, a Haryana-based company offering manpower and toll plaza management services, debuted on the stock market on Monday at a significant discount to its issue price.The stock opened at Rs 466 on the BSE, down 10.21 percent from its IPO price of Rs 519. On the NSE, it started trading at Rs 467.70, a decline of 9.88 percent. Following the listing, the company’s market valuation stood at Rs 914.67 crore.IPO Subscription and Price Revision Innovision Ltd’s initial public offer (IPO) received a subscription of 3.32 times on the final day of the sale last Tuesday. Initially, the IPO opened on March 10 and was scheduled to close on...

US Stricter Visa Policies Hit India and China Hard Washington, March 23 – The Trump administration’s tightened immigration policies significantly impacted visa issuance for Indian and Chinese nationals, with the United States issuing 2.5 lakh fewer visas in the first eight months of 2025 compared to the same period in 2024, according to media reports.From January to August 2025, the State Department approved 11 per cent fewer permanent and temporary visas than during the same period a year earlier. These visas primarily cover students, workers, and family members of US citizens and legal residents. Tourist visas, which also declined during this period, are not included in the 11 per cent drop.According to the report, the number of...

South Korea Sees Second Consecutive Drop in Foreign Currency Deposits in February Seoul, March 23 – Foreign currency deposits in South Korea declined for the second straight month in February, driven by reductions in both corporate and individual holdings, according to data released by the Bank of Korea (BOK) on Monday.Outstanding foreign currency-denominated deposits held by residents stood at US$117.53 billion at the end of February, down US$490 million from January, Yonhap News Agency reported. January had already recorded a decline, the first since October, following record highs in November and December amid a weakened won and heightened volatility in the foreign exchange market.Residents accounted for in the data include South...

Goldman Sachs Raises Oil Price Forecasts Amid Strait of Hormuz Disruption Analysts at Goldman Sachs have significantly increased their oil price forecasts for 2026, citing substantial disruptions to shipments through the Strait of Hormuz. The investment bank anticipates a major supply shock to global crude markets.Revised Price Projections Goldman Sachs now expects Brent crude futures to average $85 per barrel in 2026, a 10.38 per cent increase from a previous estimate of $77. US West Texas Intermediate (WTI) is projected at $79 per barrel, up 9.72 per cent from the earlier forecast of $72, according to analyst Daan Struyven.Strait of Hormuz Capacity Reduction The upward revision is based on the assumption that oil flows through the...

Gold and Silver Prices Plummet Amid US-Iran Tensions Gold and silver prices in India experienced a sharp decline on Monday, mirroring weakness in global bullion markets. Concerns over inflation and potential interest rate hikes, fueled by escalating US-Iran tensions, contributed to the downturn.Precious Metals Decline on MCX On the Multi Commodity Exchange (MCX), gold futures saw a steep drop at the opening. Gold futures (April 2) decreased by as much as 5.59 per cent, or Rs 8,089, reaching an intra-day low of Rs 1,36,403 per 10 grams by 9:40 am. Silver also declined significantly, falling by 6.63 per cent, or Rs 15,043, to Rs 2,11,729 per kg.Later, silver traded at Rs 2,14,745, a decrease of Rs 12,027 or 5.3 per cent, while gold...

Finance Bill, Corporate Laws Amendment Bill Introduced in Parliament Finance Minister Nirmala Sitharaman is scheduled to table the Finance Bill, 2026, and the Corporate Laws (Amendment) Bill, 2026, in Parliament on Monday.Finance Bill 2026 The Finance Bill, 2026, aims to implement the financial proposals of the Central Government for the 2026-2027 fiscal year. The Finance Minister will move for the bill's consideration and seek its passage. This will mark a key step in implementing the government's budgetary plans and economic policies for the upcoming year.Corporate Laws (Amendment) Bill 2026 The Corporate Laws (Amendment) Bill, 2026, seeks changes to the Limited Liability Partnership Act, 2008, and the Companies Act, 2013. The...

Indian Stock Markets Plunge Amid Middle East Conflict and Foreign Investor Concerns Benchmark Indian stock indices, the Sensex and Nifty, experienced a sharp decline in early trading on Monday, driven by escalating tensions in the Middle East and significant foreign fund outflows.Market Performance The 30-share BSE Sensex fell by 1,555.62 points, or 2%, to 72,977.34 during the initial trading session. The 50-share NSE Nifty dropped by 479.95 points, or 2%, to 22,634.55.Sectoral Impact Among the 30 companies in the Sensex, Tata Steel, State Bank of India, Bajaj Finance, Bharat Electronics, Titan, and Adani Ports were among the biggest losers. HCL Tech was the only gainer.Crude Oil Prices Brent crude, the global oil benchmark, rose...

Rupee Falls to Record Low of 93.94 Against US Dollar The rupee declined sharply on Monday, reaching a record low of 93.94 against the US dollar. The depreciation was driven by the ongoing war in West Asia, which has kept global crude oil prices elevated, and the strength of the US dollar.Factors Contributing to the Rupee's Decline Foreign fund outflows and a downturn in the domestic equity market during the morning session further contributed to the rupee's weakness. At the interbank foreign exchange market, the rupee started at 93.84 against the US dollar before falling to its record low of 93.94, a decrease of 41 paise from the previous close.The rupee previously breached the 93 mark on Friday, falling by 64 paise to settle at an...

IEA Chief Warns of Global Economic Threat Amid Middle East Energy Turmoil Escalating Tensions Trigger Largest Oil Supply Disruption New Delhi, March 23 – The International Energy Agency (IEA) chief, Fatih Birol, has issued a stark warning that the global economy faces a significant threat due to the escalating energy turmoil stemming from tensions in the Middle East.Mr. Birol stated that the current situation in West Asia poses serious risks to economies worldwide. “The global economy is facing a major threat today, and I sincerely hope that this issue will be resolved as soon as possible,” he said during a media event in Australia. “The fallout will not be limited to a few economies, and ‘no country will be immune to the effects of...