Adani’s Giant Copper Plant Hit by Technical Woes in First Year
Billionaire Gautam Adani’s $1.2 billion Kutch copper plant, commissioned ten months ago, has struggled with engineering setbacks that have kept it far below its 500,000‑tonne annual capacity. From April 2023 to February 2024 the facility produced only 94,000 tons of refined copper, and it was shut for repairs in late March. Earth‑i satellite data and insider sources point to high‑impurity copper concentrate—containing antimony, arsenic and uranium—as the primary cause of smelting instability, forcing the plant to import cleaner feedstock. The plant’s under‑performance raises doubts about its role in diversifying global copper supply away from China‑dominated smelters.
LPG Under Recoveries Likely at ₹80,000 Crore in FY27: ICRA
ICRA warns that India’s LPG under‑recoveries could hit ₹80,000 crore (about $9.6 billion) in FY27 as West‑Asia supply disruptions push international prices higher. The agency also projects the fertiliser subsidy to climb to ₹2.05‑2.25 lakh crore (roughly $26 billion) amid raw‑material cost inflation and an...
L&T Divests Stake in Hyderabad Metro Rail Arm for ₹1,461 Crore
Larsen & Toubro (L&T) has agreed to sell its entire stake in L&T Metro Rail (Hyderabad) to the government‑owned Hyderabad Metro Rail for roughly ₹1,461.47 crore (about $176 million). The transaction, expected to close by June 30, 2026, will remove L&T’s corporate guarantees and letters...
Bajel Projects Wins Mega Orders in West Asia and North Africa
Bajel Projects announced it has won two 500 kV overhead transmission line contracts in the Middle East and North Africa, together worth more than ₹400 crore (approximately $48 million). The orders are part of a flagship grid‑reinforcement programme aimed at bolstering the MENA...
Piramal Pharma Eyes Strong Earnings Growth over Next 2–3 Years
Piramal Pharma aims for early‑to‑mid‑teens revenue growth over the next two to three years, driven by rising demand for complex drugs such as antibody‑drug conjugates (ADCs). The Indian CDMO relies on contract manufacturing for 55% of its revenue, which fell...
Flipkart Appoints New Legal and Corporate Development VPs Ahead of IPO
Flipkart has named Sharayu Jadhav as Vice President of Legal and Varun Gupta as Vice President of Corporate Development as it readies for an IPO. Jadhav, returning from leadership roles at Acko and Razorpay, will oversee legal matters across the...
Quick Commerce War Intensifies as Jio, Amazon, Flipkart Scale up to Challenge Incumbents
India’s quick‑commerce sector is entering a scale‑up phase as Reliance Retail’s JioMart logs 2 million daily orders in Q4 FY26, a 300% year‑on‑year surge, and leans on a 3,100‑plus store network instead of capital‑heavy dark stores. Amazon Now and Flipkart are racing...
Leela Hotels Q4 Net Profit up 46%at ₹171 Crore
Leela Palaces Hotels & Resorts posted a 46% jump in Q4 FY 26 net profit, reaching ₹171 crore (≈$20.6 million). Revenue from operations rose 12% to ₹484 crore (≈$58.3 million), helped by a 15% increase in average daily rates and stronger food‑and‑beverage sales. Operating EBITDA...
Asia LNG Imports in March 2026 Lowest Since 2019
Asia’s LNG imports fell 4.3% in March 2026 to 21.12 million tonnes, the lowest March level since 2019. The drop was driven by reduced shipments from Qatar and the UAE amid the West‑Asia conflict, with China, India and Pakistan accounting for...
Peak XV Fully Exits Mobikwik in ₹130 Crore Block Deal
Venture capital firm Peak XV Partners has fully exited One MobiKwik Systems by selling 61 lakh shares—about 7.7% of the company—for roughly ₹130 crore (≈ $16 million). The block deal priced shares at ₹214 each (≈ $2.60), delivering a three‑times return on Peak XV’s original investment. Buyers include...
HPCL Says Leak Likely Caused Refinery Fire; CDU Restart Seen by Mid-May
Hindustan Petroleum Corporation Limited (HPCL) said a hydrocarbon leak in a heat‑exchanger likely triggered the April 20 fire at its new Rajasthan refinery, a project valued at roughly $9.6 billion. Restoration work is underway and is expected to finish within three to...
Reliance Navigates Volatile Oil Markets with Agile Sourcing, Operational Tweaks
Reliance Industries used diversified crude sourcing and operational agility to offset disruptions from the Iran‑War and volatile oil markets in the fourth quarter of FY 26. The refiner replaced Persian Gulf loading contracts with non‑Gulf suppliers, prioritized domestic product allocation, and...
CIL Plans 10-Year Roadmap to Slash 243 MT Coal Imports
State‑owned Coal India Ltd (CIL) unveiled a ten‑year roadmap (2026‑2036) aimed at eliminating the 243 million tonnes of coal imports it currently relies on. The plan hinges on boosting domestic output to 1 billion tonnes by FY 2028‑29, upgrading coal quality through beneficiation,...
Ambani Flags ‘Unprecedented Dislocation’ as Reliance Net Slips
Reliance Industries reported a 13% year‑on‑year drop in net profit to ₹16,970 crore (≈$2 billion) for the quarter ended March 31, while revenue rose 13% to ₹2.99 lakh crore (≈$36 billion). The decline reflects higher refining costs—up 15%—as the US‑Iran war pushed crude oil above $119...
Boba Bhai Targets 200 New Outlets in FY27, Eyes Tier-II Expansion Push
Bubble tea chain Boba Bhai announced an aggressive expansion plan to add 150‑200 new outlets in FY27, pushing its total to roughly 300 stores across ten major Indian cities. The company, which currently operates about 100 stores, is targeting tier‑II...