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New Delhi: India's services sector expanded at its slowest pace in 14 months in March, as the West Asia war weighed on demand while input costs climbed at the fastest rate in 45 months, showed a private survey released Monday. The HSBC India Services Purchasing Managers' Index (PMI), compiled by S&P Global, dropped to 57.5 in March from 58.1 in the previous month, still remaining firmly above the long-term average of 54.4. A reading above 50 indicates expansion. Coupled with manufacturing growt ...Read More >
Jammu, Apr 6: Chief Minister Omar Abdullah Monday endorsed the magisterial inquiry ordered by the Lieutenant Governor Manoj Sinha in Ganderbal encounter stating that it would bring all facts to the fore which needed to be shared with the people. He affirmed that he wanted an expeditious inquiry which could unravel the truth hence believed that the route of magisterial probe by LG Sinha was apt as judicial probe was a time-consuming process. CM's assertion came, while responding to a media quer ...Read More >
Mumbai, April 6: Maharashtra has witnessed a steady expansion in piped natural gas (PNG) connectivity, with total connections reaching 25.36 lakh, including 73,000 new additions in the past month, senior officials said on Monday. Anil Diggikar, Additional Chief Secretary of the Food, Civil Supplies and Consumer Protection Department, said the state government's decision to grant "deemed permission" for City Gas Distribution (CGD) pipelines is expected to further accelerate network expansion. H ...Read More >
Mumbai: Around 41 Indian nationals hailing from Maharashtra are currently stranded in Saudi Arabia, following the cancellation of their Akasa Air flight to Mumbai, claimed member of parliament Supriya Sule. She appealed to the Ministry of External Affairs (MEA) and the Indian Embassy for immediate repatriation assistance for stranded passengers. Flight cancellation details On Monday, Sule posted on social media platform X - a list of the names of 41 people from Maharashtra's Bhokardan - claimi ...Read More >
New Delhi: Finance Minister Nirmala Sitharaman on Monday said fiscal prudence has given the government enough room to push capex and support sectors impacted by the West Asia crisis. Besides, she said the Reserve Bank can go in for a further rate cut to deal with the emerging situation. Highlighting the importance of a good public finance policy in challenging times, the Finance Minister said that it improves the counter-cyclical capacity, especially the ability to 'lean against the wind' in ec ...Read More >
Sathankulam Custodial Killing Case: A court in Tamil Nadu's Madurai district on Monday sentenced nine policemen to death in connection with the custodial deaths of trader P Jayaraj and his son J Benicks in Thoothukudi district, a case that sparked nationwide outrage six years ago. Describing the incident as a "case of abuse of authority", the court said the verdict would not "instill fear among police" and emphasised that many officers in the state serve with integrity. "Father and son strippe ...Read More >
New Delhi [India], April 6 (ANI): Finance Minister Nirmala Sitharaman on Monday said the global economic landscape has moved from a phase of isolated shocks to one of "permanent volatility", underlining rising uncertainty due to geopolitical tensions and economic disruptions. Addressing the Golden Jubilee event of the National Institute of Public Finance and Policy in Delhi, Sitharaman pointed to several global challenges that have reshaped the world economy in recent years. "The current year ...Read More >
MUMBAI: International rating agency Moody's has retained the Baa3 (BBB-) sovereign credit rating for the country with stable outlook, but has warned that Iran war could moderate growth to just about 6% this fiscal and raise inflation risks. The stable outlook incorporates the gradually improving fiscal metrics since emerging from the pandemic and resilient growth prospects compared with peers. However, fiscal accommodation in the context of the uncertain global macroeconomic outlook, including ...Read More >
New Delhi, Apr 6 (PTI) Finance Minister Nirmala Sitharaman on Monday said fiscal prudence has given the government enough room to push capex and support sectors impacted by the West Asia crisis. Besides, she said the Reserve Bank can go in for further rate cut to deal with the emerging situation. Highlighting the importance of a good public finance policy in challenging times, the Finance Minister said, it improves the counter-cyclical capacity , especially the ability to 'lean against the win ...Read More >
Early-stage investment platform JITO Incubation and Innovation Foundation (JIIF) has invested over Rs 150 crore across more than 100 pre-seed and seed-stage startups over the past two years and plans to deploy an additional Rs 80-100 crore over the next 12-18 months. The startup incubator reported over 15 exits during the period. The platform has also made a Rs 26.5 crore investment in Mumbai-based Atomic Capital, marking its entry into a fund-of-funds approach. The move allows JIIF to particip ...Read More >
New Delhi [India], April 6 (ANI): Gold is expected to remain volatile but largely rangebound over the next one month as easing geopolitical tensions, elevated oil prices and uncertainty over interest rates continue to weigh on sentiment, analysts said. "Gold remained below USD 4,700 per ounce on Monday as markets reacted to reports of a possible 45-day ceasefire between the U.S., Iran and regional mediators," said Amit Gupta, Senior Research Analyst - Commodities at Kedia Advisory. "While easin ...Read More >
MUMBAI - India, the world's largest urea importer, is looking to purchase 2.5 million metric tons of the key crop nutrient to shore up domestic supplies, which have tightened due to the U.S.-Israeli war with Iran. State-run Indian Potash Ltd (IPL) issued a tender on Saturday to import 1.5 million tons via the country's west coast. The remaining 1 million tons will arrive through the east coast, according to the document posted on the company's website. Shipments are expected to leave the load ...Read More >
EAM Jaishankar thanks Armenia for helping evacuate Indians from Iran via Armenian territory, part of wider efforts that have already brought over 550 Indians home. External Affairs Minister S Jaishankar on Saturday expressed gratitude to the government of Armenia and its Foreign Affairs Minister Ararat Mirzoyan for facilitating the evacuation of Indian fishermen from Iran via Armenian territory. The External Affairs Minister didn't specify the number of fishermen evacuated from the conflict-st ...Read More >
A third vessel, Jag Vikram, is still in the west of the Strait of Hormuz, the data showed. The U.S.-Israeli war against Iran has all but halted shipping through the strait, but Iran says "non-hostile vessels" may transit the waterway if they coordinate with Iranian authorities. Green Asha and Green Sanvi have crossed the Gulf area and are in the eastern Strait of Hormuz, the data showed, taking the total number of Indian-flagged LPG carriers that have traversed the Strait to eight. India is g ...Read More >
New Delhi: The impact of the Middle East war in March hit India's services activity, dragging down to a 14-month low of 57.5, but demand remained resilient, led by new export orders across the country. Indicating a loss of momentum in the sector, the cost pressures, however, rose sharply with firms reporting the fastest increase in input prices in nearly four years, a private survey showed on Monday. As per the survey, the seasonally adjusted HSBC India services PMI business activity index fell ...Read More >
New Delhi, Apr 6 (PTI) Falling for the second day in a row, shares of Reliance Industries on Monday dropped over 3 per cent on the bourses. The bellwether stock declined 3.41 per cent to settle at Rs 1,304.75 on the BSE. During the day, it dropped 4.50 per cent to Rs 1,290. At the NSE, the stock edged lower by 3.39 per cent to Rs 1,304.70. In two trading days, the stock has lost 4.68 per cent, wiping out Rs 86,743.14 crore from its market valuation. The company's market valuation slipped belo ...Read More >
New Delhi, Apr 6 (PTI) Finance Minister Nirmala Sitharaman on Monday said India has fiscal space to support sectors impacted by escalating West Asia crisis, while the Reserve Bank has room to cut interest rate to deal with global challenges. The Monetary Policy Committee headed by Reserve Bank Governor will announce its stance on interest rate on Wednesday. There is a widespread speculation that RBI will maintain status quo. The rate-setting panel began its deliberations on Monday. Observing t ...Read More >
MUMBAI, April 6 (Reuters) - India, the world's largest urea importer, is looking to purchase 2.5 million metric tons of the key crop nutrient to shore up domestic supplies, which have tightened due to the U.S.-Israeli war with Iran. State-run Indian Potash Ltd (IPL) issued a tender on Saturday to import 1.5 million tons via the country's west coast. The remaining 1 million tons will arrive through the east coast, according to the document posted on the company's website. Shipments are expected ...Read More >
Bengaluru: Auto drivers in Bengaluru on Monday rejected the suggestion by Indian Oil Corporation Limited (IOCL) to temporarily switch to petrol due to a shortage in auto LPG supply owing to the ongoing Middle East conflict, calling it financially unviable. The IOCL on Sunday requested the switch till the situation improved, though it has significantly ramped up the supply of auto LPG in Karnataka from 43.5 metric tonnes (MT) per day in February to 68.53 MT per day as of April 4. "This is not a ...Read More >
A Nuvama report said the edible oils and agri-linked consumer staples sector outlook remains positive, driven by strong volume growth and improving demand across industrial segments. "Overall volumes to grow ~13% YoY led by strong growth in Edible Oils and Industry Essentials segments," the report said, with edible oils such as soybean, mustard, rice bran and palm oil leading the upcycle. The outlook for the edible oils and agri-linked consumer staples sector remains constructive, led by strong ...Read More >
NEW DELHI: The government is considering building liquefied petroleum gas (LPG) reserves as a buffer against potential supply disruptions, a government official said on Monday.The move comes as Nayara Energy is set to shut its Vadinar refinery from April 9-10, a development that is expected to impact LPG supplies in the country, the official added.With the temporary shutdown likely to tighten availability, the government is evaluating options to ensure supply stability, including the creation of ...Read More >
Meta description - India's service sector growth slowed to a 14-month low in March 2026. It gives the right sign, eases the demand, and moderates financial momentum overall. India's services sector lost steam for the second straight month in March. It is recording its slowest growth in over a year as demand weakened and inflationary pressures have strengthened amid the constant Iran conflict. The HSBC India Services Purchasing Managers' Index, collected by S&P Global, fell to 57.5 last month f ...Read More >
Thrissur (Kerala), Apr 6 (PTI) Congress leader Rahul Gandhi on Monday termed Prime Minister Narendra Modi and Kerala Chief Minister Pinarayi Vijayan as "arrogant", alleging that they have a mindset of ruling over people rather than working with them. Addressing an election rally at Mala here, Gandhi said the Assembly polls in Kerala were a fight between the Congress-led UDF and the ruling LDF, which he alleged was being indirectly supported by the BJP. "There is a hidden hand helping the LDF a ...Read More >
Srinagar, Apr 6 (KNS): Jammu and Kashmir Chief Minister Omar Abdullah on Monday said a probe into the alleged fake encounter in Ganderbal should be conducted without delay, adding that the truth must be placed before the public. Speaking to reporters, Abdullah said judicial or magisterial inquiries take time and may not be feasible to initiate immediately due to procedural constraints. "I will not call for a judicial or magisterial inquiry because it takes time. It is not easy to get a sitting ...Read More >
Mumbai, Apr 6 (PTI) Benchmark indices Sensex and Nifty staged a sharp rebound on Monday after falling in early trade following a correction in crude oil prices amid reports of ceasefire efforts in the ongoing West Asia war. Besides, intense buying in bank stocks also supported investor sentiments. In a volatile session, the 30-share BSE Sensex jumped 787.30 points, or 1.07 per cent, to settle at 74,106.85. During the day, it surged 887.91 points, or 1.21 per cent, to 74,207.46. The 50-share N ...Read More >
Doha, April 6 (SANA) Qatar, India and Spain have called for de-escalation and a return to negotiations to ease rising tensions in the Middle East, amid ongoing conflict involving the United States, Israel and Iran. Qatar's Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman bin Jassim Al-Thani urged an immediate halt to what he described as Iranian attacks on Qatar and other countries in the region, stressing the need to prioritize dialogue. Al-Thani made the remarks during separate ph ...Read More >
Wipro -- the Indian tech giant founded by billionaire Azim Premji -- is buying the IT unit of Olam Group for $375 million as the Singapore-based company moves to re-organize its operations and focus on its core agricultural commodities business. Under the deal, which is subject to customary closing conditions, Bangalore-based Wipro will buy Olam's entire stake in its IT and digital services unit, Mindsprint, in cash. Following the acquisition, Wipro will provide Olam IT services for eight years ...Read More >
Kannur (Kerala), Apr 6 (PTI) Congress leader Priyanka Gandhi Vadra on Monday alleged that Prime Minister Narendra Modi and the Centre have "failed" to address the concerns arising out of the ongoing West Asia conflict, which was affecting lakhs of Indians. Addressing a corner meeting at Peravoor in this northern district as part of the campaign for the April 9 Assembly polls, she claimed that no adequate provisions had been made for the safety and security of Indians in the region. Referring t ...Read More >
NEW DELHI: Two more Indian-flagged liquefied petroleum gas tankers, Green Asha and Green Sanvi, have exited the Gulf carrying the fuel for the South Asian nation, according to ship tracking data on LSEG and Kpler. A third vessel, Jag Vikram, is still in the west of the Strait of Hormuz, the data showed. The U.S.-Israeli war against Iran has all but halted shipping through the strait, but Iran says "non-hostile vessels" may transit the waterway if they coordinate with Iranian authorities. Gre ...Read More >
[MUMBAI] The Reserve Bank of India's (RBI) tightening of foreign exchange (FX) rules will help shield the rupee from pressures emanating from offshore markets, but traders may continue drawing pricing signals from those markets, a senior Axis Bank official said. A 4.5 per cent fall in the Indian rupee since the breakout of the Iran war has prompted the central bank to impose a cap on banks' net open FX positions in the onshore markets in late March. The RBI also barred lenders from offering no ...Read More >
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