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' motion to dismiss to June 8, the SEC’s amended complaint to August 7, and the defendants’ reply to September 21. The SEC’s case, filed in November 2024, alleges the brothers concealed a bribery scheme and failed to disclose a $750 million bond offering. The Adanis deny the claims and argue the court lacks jurisdiction over conduct outside the United States.
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...
MUFG Takes 20% Stake in Shriram Finance for ₹39,618 Crore in India’s Largest Cross-Border Financial Deal
MUFG Bank acquired a 20% equity stake in Shriram Finance Ltd for about ₹39,618 crore (≈ $4.8 billion), marking India’s largest cross‑border financial deal. The purchase of 471.1 million shares at ₹840.93 each bolsters Shriram’s capital base as it expands its retail and MSME...
Bank Nifty Surges After RBI Policy Decision: Why Did Bank Stocks Rally on Unchanged Repo Rate?
India's Nifty Bank index jumped more than 5% to 55,552 points after the Reserve Bank of India left the repo rate unchanged. The decision removed rate‑uncertainty, prompting heavyweights like Axis, HDFC and SBI to rise 3‑5% and smaller lenders such...
India Set to Get First Iranian Crude Oil Cargo in 7 Years
India will receive its first Iranian crude cargo in seven years after the United States temporarily lifted sanctions on Iranian oil. The shipment, aboard the Curacao‑flagged VLCC Jaya, was bought by state‑run Indian Oil Corp. and is bound for India's...
Gold Price Swings Spur Advance Buying; Tanishq Enters Gemstones to Boost Demand
Tanishq is accelerating advance jewellery purchases as volatile gold prices push consumers to buy early, especially ahead of Akshaya Tritiya and the upcoming festive season. The retailer unveiled the ‘Hues’ collection, adding over 200 natural‑gemstone designs, with 70% of items...
West Asia Crisis Hits Activated Carbon Exports as Costs Surge Amid Shipping Woes
The West Asia crisis has shut Red Sea shipping lanes, halting Indian activated carbon shipments to key gold‑mining markets such as Sudan and Egypt. Exporters now face a $3,000 war‑risk surcharge per 40‑ft container and an extra $1,800 cost to...
Broker’s Call: Orient Electric (Buy)
ICICI Securities reiterates a Buy rating on Orient Electric, setting a revised target price of ₹200 (≈ $2.40) versus the current market price of ₹161.15 (≈ $1.94). The broker projects revenue CAGR of 11.7% and PAT CAGR of 25.4% for FY25‑28, with...
Gold Rises over 1% to ₹1.51 Lakh/10g in Futures Trade
Gold futures on India’s Multi‑Commodity Exchange jumped more than 1% on Monday, reaching ₹1.51 lakh per 10 grams (about $1,820). The rise follows a recent decline, with prices now down roughly 12% from the February peak of ₹1.65 lakh ($2,000) amid escalating West...
SEBI Plans Joint Initiative to Strengthen Independent Directors
The Securities and Exchange Board of India (SEBI) announced a collaborative initiative to boost the pipeline and effectiveness of independent directors, partnering with corporates, academia, and professional bodies. Chairman Tuhin Kanta Pandey emphasized that the program will focus on continuous...
SP Group Gets Relief on $3.4 Billion Private Credit Debt
SP Group, a 160‑year‑old Indian construction conglomerate, secured relief on its $3.4 billion private‑credit facility by having lenders temporarily raise its loan‑to‑value covenant to 40% from 34% for four months. The loan, issued at a steep 19.75% yield, is backed by...
Broker’s Call: Emmvee Photovoltaic (Add)
Emmvee Photovoltaic is adding a 6 GW integrated cell‑and‑module plant, boosting its total capacity to 16.3 GW of modules and 8.9 GW of cells, making it India’s fourth‑largest solar manufacturer. Kotak Institutional Equities initiates coverage with an Add rating and a DCF‑derived fair...
Iran Tensions, Crude Oil Surge Keep Dalal Street on Edge
Rising crude‑oil prices and heightened Iran‑U.S. tensions pushed Indian equities lower on Monday. The BSE Sensex fell about 120 points (‑0.16%) to 73,199 and the NSE Nifty slipped 13 points (‑0.06%) to 22,700. Brent crude rose to $109.78 per barrel...
Hindustan Zinc Mined Metal Production up 2% in 2025-26; Silver Down 9%
Hindustan Zinc Ltd reported a 2 % rise in mined metal output for FY 2025‑26, reaching a record 1,114 kt, driven by higher ore tonnage and improved grades. Refined zinc production grew 3 % to 851 kt, while refined lead fell 13 % to 197 kt, pulling...
Basmati Exporters Seek Relief as Shipping Lines Levy Charges Amid Disruption Due to War
Indian basmati rice exporters, represented by the Basmati Rice Farmers and Exporters Development Forum, have asked the government to intervene as shipping lines levy detention, demurrage and war‑risk surcharges on containers stranded due to the West Asian conflict. The forum...
SEBI Readies Digital Platform to Expand Adviser Base
The Securities and Exchange Board of India (SEBI) is set to launch a digital platform called SEBI SETU this month, aiming to streamline registration and ongoing compliance for investment advisers (IAs). The move comes as India’s retail market boasts over 22 crore...
Punjab Carbonic IPO: Carbon Capture Firm Files DRHP with SEBI
Punjab Carbonic, a carbon capture and utilisation firm, filed a Draft Red Herring Prospectus with SEBI to launch an IPO. The offer comprises 95 lakh equity shares at ₹10 each (about $0.12 per share), raising roughly $1.1 million, split between 60 lakh fresh...
India Pushes PNG Expansion to 30 Lakh Connections Amid West Asia Crisis
India is accelerating its piped natural gas (PNG) rollout, targeting 30 lakh new connections across more than 150 high‑priority districts as West Asia tensions strain LPG supplies. The ministries of Petroleum & Natural Gas and Housing and Urban Affairs convened a...
SEBI Proposes Return of Open-Market Share Buybacks via Stock Exchanges
The Securities and Exchange Board of India (SEBI) has proposed reinstating open‑market share buybacks through stock exchanges, adding the method to the existing tender‑offer and book‑building routes. The proposal, open for comment until April 23, changes the tax treatment so that...
Stock Market Highlights 2 April 2026: Sensex Ends 185 Pts Higher at 73,319, Nifty Regains 22,700 After Strong Rupee Rally
India's benchmark indices rebounded on April 2, with the BSE Sensex climbing 185 points to 73,319.55 and the NSE Nifty crossing the 22,700 mark at 22,713.10. The rally was anchored by strong buying in IT and banking stocks and a...
Indian Govt Expects to Meet 39 Million Tonnes of Kharif 2026 Fertilizer Demand
The Indian government says fertilizer stocks have risen to over 18 million tonnes, up from 14.7 mt a year earlier, positioning the country to meet the 39 mt kharif 2026 demand. Gas supplies to urea plants have improved to roughly 80 percent of needs,...
Silver Jumps ₹7,000, Gold Rises ₹3,700 on Wedding Season Demand
Precious metals rallied in Delhi on March 30, with silver jumping ₹7,000 (≈ $74) to ₹2.37 lakh per kilogram and gold rising ₹3,700 (≈ $39) to ₹1.51 lakh per 10 grams. The surge, about 3 % for silver and 2.5 % for gold, was driven by jewellers stocking...
Broker’s Call: Coal India (Buy)
Geojit Retail Equity Research upgraded Coal India Ltd. (CIL) to a Buy, setting a new target price of ₹506 (≈ $6.10) from a current market price of ₹450.25 (≈ $5.42). The miner posted Q3 FY26 revenue of ₹34,924 crore (≈ $4.2 bn) and PAT of...
Broker’s Call: V-Mart Retail (Buy)
HDFC Securities maintains a BUY on V‑Mart Retail, setting a target price of ₹850 (≈ $10) while the stock trades around ₹475 (≈ $5.7). The broker projects a 15‑16% revenue CAGR for FY 26‑28, supported by Unlimited stores delivering 4‑5% pre‑INDAS EBIT‑DAM versus...