Telangana Govt to Take over Hyderabad Metro Rail, Clears Share Purchase Pact
The Telangana government approved a share purchase agreement with L&T Hyderabad Metro to acquire 100% equity in Phase‑I of the Hyderabad Metro for roughly ₹15,000 crore (about $1.8 billion). The order also sanctions a ₹13,651 crore (≈$1.6 billion) loan from Indian Railway Finance Corporation, payable over 20 years and backed by an RBI guarantee. Staff transition measures retain 115 L&T employees at a cost of ₹24.3 crore ($3 million) for one year and enlist seven CXO‑level advisors for six months. The move consolidates state control over a critical urban transit asset while assuming existing debt of around ₹13,000 crore ($1.6 billion).
Telangana to Procure 15 Lakh Tonne of Maize
The Telangana government will spend roughly ₹4,173 crore (about $502 million) to procure 14.9 lakh tonnes of maize at the minimum support price of ₹2,400 per quintal, covering about one‑third of the state’s estimated 43.2 lakh‑tonne output. Market prices have fallen to ₹1,600 per...
J.P. Morgan Upgrades Taiwan, Tech to Overweight; Cuts India to Neutral Amid AI Surge and Stagflation
J.P. Morgan raised its Asia equity allocation, upgrading Taiwan and the broader technology sector to overweight while cutting India to neutral. The bank lifted Taiwan index targets to 48,000 (base) with bear and bull cases at 36,000 and 43,000, citing a...
Gold Prices Firm up in India as Rupee Depreciates Against Dollar
Indian gold prices rose on Friday to ₹1,51,479 per 10 g (≈ $1,825), as the rupee kept weakening against the dollar. At the same time, global spot gold slipped 0.2% to $4,685 an ounce, marking a roughly 3% decline for the week....
Broker’s Call: Fortis Healthcare (Buy)
Motilal Oswal initiates coverage on Fortis Healthcare with a Buy rating, setting a target of ₹1,100 (≈ $13) versus the current price of ₹928.10 (≈ $11). Since IHH Healthcare took over in FY‑19, the hospital chain has cleaned up its balance sheet,...
Rupee Slides 34 Paise to 94.12 Against US Dollar in Early Trade
The Indian rupee slipped to 94.12 per U.S. dollar, marking a fourth straight session of depreciation. The decline was amplified by a 1.37% rise in Brent crude to $103.31 a barrel and heightened geopolitical tension in West Asia. Foreign institutional...
Rocklink India Opens Lithium-Ion Battery Recycling Plant in Uttar Pradesh
Rocklink India has inaugurated a lithium‑ion battery recycling plant in Sikandrabad, Uttar Pradesh, capable of processing 10,000 tonnes of battery feedstock annually and producing up to 6,000 tonnes of black‑mass. The facility extracts critical metals such as lithium, cobalt, nickel and rare‑earth...
Iron Ore Consolidates as Investors Weigh Higher War-Induced Costs Against Rising Supply
Iron ore prices held steady on April 23 as investors weighed higher freight and input costs from the Iran war against a growing supply outlook. The Dalian Commodity Exchange price stayed at 785.5 yuan (≈$115) per ton, while Singapore’s benchmark hovered just...
Brent Tops $100 Again Amid Supply Fears After Iran Seizes Vessels in Hormuz
Brent crude futures surged past $100 a barrel on Thursday, reaching $103.40 as Iran seized two vessels in the Strait of Hormuz, heightening supply‑risk concerns. U.S. crude and refined‑product exports climbed to a record 12.88 million barrels per day, up 137,000...
Rupee May Weaken Past 94, Oil Surge Wipes Large Part of Relief Rally
The Indian rupee is poised to slip past the 94 per‑dollar mark as oil prices rebound above $100 a barrel, eroding the brief relief rally that saw the currency recover to 92.5 earlier this month. Traders expect the rupee to...
Sensex, Nifty to Open Lower as Crude Prices Top $100 on Iran War Uncertainty
India’s equity benchmarks are set to open lower on Thursday as Brent crude breached $102 a barrel following Iran’s seizure of two tankers in the Strait of Hormuz. HSBC downgraded Indian equities to underweight, warning that the country’s heavy reliance...
Family Trusts Cannot Sponsor Mutual Funds, Clarifies SEBI
India's securities regulator SEBI clarified that only body corporates, not family trusts, can act as sponsors of mutual funds. The guidance, issued in response to First Water Capital Advisory LLP, reaffirms the existing rule that a sponsor must be a...
Broker’s Call: Bank of Maharashtra (Buy)
Bank of Maharashtra posted a Q4 FY26 profit after tax of ₹2,010 crore (≈ $242 M), beating estimates by 12.3% and marking a 13.2% sequential rise. Net advances surged 22% YoY while deposits grew 14.1% YoY, supporting a modest NIM improvement to 3.75%...
Broker’s Call: Mastek (Buy)
Mastek posted an in‑line Q4 FY26, with cloud‑centric revenue of $103.5 million, up 0.3% quarter‑on‑quarter, and a 13.6% year‑on‑year rise in its $12 million order backlog. The firm added more than 27 AI‑focused programmes, lifting AI‑related work from 3% to 9% of...
Nifty Notches Third Straight Win, FMCG and Realty Lead the Charge
India’s benchmark indices extended their rally for a third day on April 21, with the Nifty 50 closing at 24,576.60 (+0.87%) and the Sensex at 79,273.33 (+0.96%). Gains were led by the FMCG and Realty sectors, each climbing over 2%, while Private...
ICICI Prudential AMC, Two Others Pay ₹14.35 Lakh to SEBI to Settle Regulatory Violation
ICICI Prudential Asset Management Company, its venture‑capital fund and trust paid a total of ₹14.35 lakh (about $17,300) to settle a SEBI case over delayed winding‑up of a real‑estate venture‑capital scheme. The scheme, launched in 2013, was extended multiple times and...
PL Capital Sees Nifty at 27,080; Flags Geopolitical Risks, Crude-Led Pressures
PL Capital projects the Nifty 50 to reach 27,080 by FY 28, driven by a 15% earnings compound annual growth rate. The index has slipped 6.6% in the last quarter amid foreign fund outflows and heightened geopolitical tension, especially in West Asia....
India Bonds Set to Start Week Lower on US-Iran Uncertainty
Indian government bonds are set to open lower on Monday as oil prices rebound over 6% amid renewed U.S.-Iran tensions. The benchmark 6.48% 2035 bond is expected to trade between 6.88% and 6.94%, down from Friday’s 6.9049% close. A temporary...
Gold Falls over 1% as Dollar Strengthens, Oil Surge Fuels Inflation Fears
Gold prices slipped more than 1% on Monday, with spot bullion falling 1.4% to $4,762 per ounce and June futures down 2% to $4,782. The decline was driven by a stronger U.S. dollar, which makes gold costlier for holders of...
Citadel Securities Looks at Prediction Markets as Trading Scales
Citadel Securities, the leading market‑making firm, is actively evaluating entry into the burgeoning prediction‑market space. President Jim Esposito said the firm is monitoring developments but cites limited liquidity as a barrier, while anticipating that the market will scale. Competitors such...
Indian Ships Reverse Course in Hormuz Strait, Vessel Tracker Says
Two Indian‑flagged vessels, including a supertanker loaded with 2 million barrels of Iraqi oil, turned back in the Strait of Hormuz after reports that Iran’s Revolutionary Guard opened fire. The British Maritime Trade Operations Centre said the crew were safe but...
Large Caps Turn Attractive as Valuations Ease; Caution on Mid, Small Caps: DSP MF
DSP Mutual Fund’s latest market outlook sees Indian large‑cap equities becoming more attractive as valuations ease toward historical averages, with the Nifty’s PE ratio slipping below 20x. The report highlights that large‑caps now offer better price levels, higher ROEs and...
Adani, SEC Seek More Time in US Court; Propose New Schedule in Securities Case
The U.S. Securities and Exchange Commission and Indian businessmen Gautam Adani and Sagar Adani have asked a New York federal court to extend filing deadlines in their civil securities lawsuit. Both parties submitted a revised schedule that pushes the Adanis'...
India’s Wheat Procurement Plummets 40% Due to Delayed Start in Madhya Pradesh
India’s wheat procurement for the 2026‑27 Rabi season is down 40% year‑on‑year, with total purchases at 5.134 million tonnes versus 8.357 million tonnes last year. Quality‑norm relaxations in Punjab and Haryana have already boosted purchases in those states, while Madhya Pradesh’s procurement...
SEBI Clears 3 IPO Papers Including Brookfield-Backed Avaada Electro
The Securities and Exchange Board of India approved three IPO filings this week, including Brookfield‑backed Avaada Electro, a solar‑module manufacturer planning a ₹9,000‑10,000 crore ($1.1‑$1.2 billion) offering. Avaada will use fresh‑issue proceeds to build a 5.1 GW capacity plant in Uttar Pradesh and expand...
Jio Platforms Said to Plan Filing for IPO Next Month
Reliance Industries' digital arm Jio Platforms is expected to file a draft prospectus in May, after postponing an earlier March target due to market volatility from the Iran war. The filing will use full‑year results ending March 31, showcasing subscriber...
Share Buy-Back Is Capital Reduction, Not Acquisition of Assets, Says Delhi HC
India’s Delhi High Court held that a corporate share buy‑back constitutes a capital reduction rather than an acquisition of assets, and therefore cannot be taxed as deemed profit. The bench emphasized that once shares are extinguished, they no longer exist...
Aditya Birla Housing Finance Raises ₹2,750 Crore by Selling 14.29% Stake to Indriya
Aditya Birla Housing Finance Ltd (ABHFL) raised about ₹2,750 crore ($335 million) by selling a 14.29% stake to Indriya Ltd, an Advent International vehicle. The preferential issue priced the shares at ₹223.12 each, bringing Indriya’s ownership to 14.285% and reducing Aditya Birla Capital’s holding...
Gold Jewellery of Lower Carats to Gain Traction in Run up to Akshaya Tritiya
Gold prices in India have slipped 18% from their January peak of ₹1.80 lakh (≈ $2,170) to ₹1.52 lakh (≈ $1,830) per 10 g, prompting a shift toward lower‑carat jewellery ahead of the auspicious Akshaya Tritiya festival. At current rates, 18‑carat gold costs about ₹1.16 lakh (≈ $1,400)...
Rubicon Research Acquires 85% Stake in Ahmedabad-Based Arinna Lifesciences for ₹176 Cr
Rubicon Research Limited has agreed to acquire an 85% stake in Ahmedabad‑based Arinna Lifesciences for roughly ₹176 crore (about $21 million). The deal values Arinna at an enterprise value of ₹200 crore (~$24 million) and includes a purchase price of ₹175.92 crore, or ₹158.53 per...
Broker’s Call: ACME Solar (Buy)
ACME Solar is projected to more than double its operational capacity from 2,540 MW in FY 25 to 6,270 MW by FY 28, driven by firm and dispatchable renewable energy (FDRE) projects. The broker values the stock at a target price of ₹363 (≈ $4.4),...
Broker’s Call: ICICI Prudential AMC (Buy)
Motilal Oswal Research maintains a Buy rating on ICICI Prudential Asset Management, setting a target price of ₹3,850 ($46). The fund manager posted a 20% YoY rise in Q4 FY26 operating revenue to ₹1,520 cr ($183 M) and a 30% YoY jump in...
India Aims for Cocoa Self-Sufficiency by 2040 Under New Roadmap
India unveiled a 2026‑2040 roadmap to achieve cocoa self‑sufficiency by 2040‑41, aiming to cut annual imports of over $866 million. The plan calls for a National Mission on Cocoa, a Centre of Excellence, and the creation of 250 hectares of seed...
Rupee Settles 9 Paise Lower at 93.44 Against US Dollar
The Indian rupee settled at 93.44 per U.S. dollar on Wednesday, slipping 9 paise after an earlier rally. The decline was driven by a rebound in Brent crude to $96.21 a barrel and a surge in March wholesale price index inflation...
Fuel Price Freeze: ₹18/Litre Loss on Petrol, ₹35 on Diesel
State‑owned Indian Oil, Bharat Petroleum and Hindustan Petroleum have kept retail petrol and diesel prices frozen since April 2022, despite global crude oil swinging from over $100 to $120 per barrel. The freeze translates to losses of about ₹18 ($0.22) per...
Gold ETFs Attract ₹31,561 Crore in March Quarter Amid Geopolitical Tensions
Gold exchange‑traded funds in India attracted ₹31,561 crore (about $3.8 billion) in the March 2026 quarter, a six‑fold jump from the same period a year earlier. Quarter‑on‑quarter inflows rose 36 % to ₹23,132 crore, though March’s net inflow of ₹2,266 crore slowed after a strong start...
Asian Stocks Gain and Oil Falls on Hopes of Renewed US-Iran Talks
Asian equity markets rallied on Tuesday, mirroring Wall Street gains as the Nikkei 225 rose 2.4% to 57,842 and South Korea's Kospi jumped 3.4% to 6,004. The rally came amid growing optimism that a second round of US‑Iran talks could...
Iran Oil Hoard at Sea Shields China’s Refiners From US Blockade
A stockpile of about 38 million barrels of Iranian crude sits on tankers in Asia, with over a third anchored near China’s Yellow Sea. Chinese independent refiners—known as “teapots”—have built near‑record on‑shore inventories in Shandong, giving them roughly two‑and‑a‑half months of...
Japan’s Benchmark Bond Yield Jumps to 29-Year High as US-Iran Talks Collapse
Japan’s benchmark 10‑year government bond yield jumped 5.5 basis points to 2.49%, the highest level since June 1997, as the collapse of U.S.–Iran peace talks sent oil prices soaring. The five‑year yield also hit a record 1.90%, reflecting heightened inflation...
Two Dozen Stocks Including, L&T, NTPC, HUDCO, NBCC, Zaggle, AstraZeneca, Apollo Hospitals, Shalby, TGV Sraac Will Be in Focus on...
A wave of high‑value contracts and strategic deals swept India’s infrastructure, pharma, and real‑estate sectors on Monday. Enviro Infra secured roughly $117 million in sewage‑treatment projects, while L&T Realty and AstraZeneca announced acquisitions worth $135 million and $408 million respectively. NTPC’s Tehri pumped‑storage...
How Govt Policy Initiatives to Impact Shares of EV Makers, Oil Exporters
India’s Finance Ministry raised the windfall tax on export‑bound diesel by 158% to ₹55.5 per litre (about $0.67) and on aviation turbine fuel by 42% to ₹42 per litre (about $0.51), effective immediately. The hike follows a March 26 re‑imposition...
Gold vs Equities: Does the Yellow Metal Hold Edge Despite Softening Shine?
Gold has surged in the recent fear cycle, driven by unprecedented central‑bank buying that more than doubled to roughly 1,000 tonnes a year between 2022 and 2025. Over the past five years gold posted a 16.9% compound annual growth rate,...
The New Gold Rush: Why Investors Are Moving From Jewellery to Digital
Investors in India are rapidly moving from traditional jewellery to digital gold products such as Digital Gold, Gold ETFs, and Sovereign Gold Bonds, attracted by lower costs, 24‑karat purity and zero‑storage risk. Gold ETF inflows surged 283% YoY in 2025,...
Prestige Estates Shares Gain on ₹9,000 Crore Mumbai JV Project Announcement
Prestige Estates Projects Ltd saw its shares rise to ₹1,329.40 ($16) after announcing a joint‑venture with ABIL Group to develop a 6‑acre premium residential project in Versova, Mumbai. The venture, executed through Aaramnagar Realty LLP, targets 1.7 million sq ft of RERA‑approved space...
Nifty Crosses 24,000; IT Stocks Bleed as Broader Market Rallies
The Nifty 50 breached the psychological 24,000 mark, closing at 24,004.70, while the Sensex rose to 77,380.42. Broad‑based buying in financials, autos and consumer stocks lifted the market, but the technology pack lagged, with Infosys down 3.5%, TCS 3.2%, HCL Tech...
Broker’s Call: Tech Mahindra (Buy)
Tech Mahindra reported record Q3 FY26 bookings of $1.1 bn, a 48% year‑on‑year increase in LTM deal wins, and secured a >$500 mn five‑year contract with a European telecom provider. Axis Securities maintains a BUY rating with a target price of ₹1,620...
Broker’s Call: Jindal Stainless (Buy)
SBI Securities has upgraded Jindal Stainless to a Buy, setting a target price of ₹859 (≈$10.35) versus the current ₹753.30 (≈$9.07). The firm has commissioned a 1.2 mt stainless‑steel melt shop in Indonesia ahead of schedule, lifting total melting capacity to...
US Ceasefire May Boost LPG, LNG Supplies to India in Short Term
The United States announced a two‑week ceasefire with Iran, easing the immediate bottleneck in the Strait of Hormuz that has stranded dozens of LPG and LNG carriers. Analysts expect India’s LPG and LNG imports to restart within weeks, while crude...
Natural Diamond Council Celebrates ‘World Diamond Day’
The Natural Diamond Council (NDC) inaugurated World Diamond Day on April 8, 2026, positioning it as a global movement to celebrate the joy and community inspired by natural diamonds. Leading diamantaires, manufacturers, and trade bodies—including GJEPC India, GIA, and the Bharat Diamond...
MMTC-PAMP Launches Buyback Offer for Silver Coins, Bars, Jewellery
MMTC‑PAMP, an LBMA‑certified refiner, has launched a structured buy‑back program for silver coins, bars and jewellery at seven Indian cities. The service verifies purity with X‑ray fluorescence (XRF) technology, melts the metal and pays customers instantly via bank transfer. The...