India PMI Eases Amid Middle East War Impact
Due to both heightened oil prices and growing geopolitical tension in the Middle East, India’s private business sector growth slowed down in March. A recent flash survey released by HSBC shows that the composite purchasing managers’ index (PMI) reading for March is now 56.5, down from February’s 58.9, which marks its lowest value recorded since…
Khushi Bhadauria
HDFC Bank Appoints External Counsel Following Ex-Chairman’s Exit
India’s #1 private-sector bank, HDFC Bank, tapped into external law firms to review the resignation letter of its former Part-time Chairman, Atanu Chakraborty, last week. In his resignation letter, he has also claimed differences in “values and ethics” with the bank, raising serious concerns about corporate governance at HDFC Bank. Following Atanu’s resignation, the bank’s…
Yash Sharma
India Trade Deficit Narrows In FebruaryÂ
India is experiencing a reduction in the merchandise trade deficit in February because import levels declined compared with January, providing temporary support for the nation’s international trade balance until geopolitical conflicts disrupt worldwide shipping operations. The February deficit decreased to $27.1 billion, while January’s deficit was $34.68 billion, according to the Commerce minister’s report. The…
Himanshu
India Talks to Boost Fertiliser Imports with RussiaÂ
India, a leading importer of fertiliser, is planning to increase fertiliser imports from Russia, Belarus and Morocco due to Middle East conflicts, and China may also reduce supply before the summer farming season. As farming is very important in India, farmers need fertilisers like urea, DAP, and potash. India also imports liquefied natural gas, which…
Abdullah Ansari
KKR to Invest $310M in India Electric Bus Deal
Global investment firm KKR plans to invest up to $310 million in India’s electric mobility sector through a strategic partnership with PMI Electro Mobility Solutions and its fleet platform Allfleet India. The investment aims to expand electric bus operations and strengthen sustainable public transport infrastructure across the country. Under the agreement, KKR will acquire a…
Bhumika
Jio Could Submit its IPO Prospectus As Soon As March
Reliance, a company owned by Mukesh Ambani, is planning to sell its share of Jio Pvt. Ltd. to the public. Jio is ready to file the Draft Red Herring Prospectus for the initial Public Offering by the end of March, using financial data up to December. The government recently changed the rules, allowing large companies…
Shipra Prajapati
India’s Wholesale Inflation Hits 2.13 % in February Y/Y
India’s wholesale prices are rising steadily, with a 2.13 per cent year-over-year increase in February. Government data released on Monday showed that in January, the increase was 1.81 per cent, indicating prices are rising a little faster than before. According to the data shown by WPI, food prices rose by 1.85 per cent year-on-year in…
Hindalco Halts Extruded Aluminium Products Production
Hindalco Industries, a major Indian company owned by the Aditya Birla Group, has issued a notice to halt production of extruded aluminium products due to a gas supply shortage. The situation of gas shortage has emerged because of the United States- Israel war with Iran, which has significantly affected the imports of gas. The Aditya…
Iran to Allow Indian- Flagged Tankers through Hormuz
Iran will allow Indian-flagged tankers to transit through the Strait of Hormuz. A conduit for 40% of the South Asian nations’ crude Imports, the Indian government source said on Thursday, but the Iranian source denied that any such deal was reached. India said on Thursday that the foreign minister had three recent conversations, the latest…
Sumit
India Stands To Meet The Coal Demand In SummerÂ
The escalating tensions over conflicts in Middle Eastern countries are becoming a threat to the global energy supplies. But India is ready to tackle the unexpected coal demand in summer with 210 million metric tons of stock available in the country, which would be adequate for 88 days of consumption, as remarked in a statement…
Vipin