Category Archives: Business

Global Gold Demand Rises 2 pc in Q1, Investment Buying Drives Surge: WGC

Mumbai, Apr 29 (BNP): Global gold demand recorded a modest but steady rise in the January–March quarter, supported primarily by strong investment buying in bars and coins amid persistent geopolitical tensions and elevated price levels, according to the latest World Gold Council (WGC) report released on Wednesday.

Total global gold demand, including over-the-counter (OTC) transactions, increased by 2% year-on-year to 1,231 tonnes in Q1 2026, compared to 1,205 tonnes in the same quarter last year.

The standout driver of growth was investment demand, which surged sharply as investors increased allocations to physical gold. Bar and coin purchases rose 42% year-on-year to 474 tonnes, reflecting growing demand for gold as a safe-haven asset during periods of global uncertainty and financial market volatility.

While overall physical demand growth remained moderate, the value of gold demand witnessed a significant jump. Total demand value soared to a record USD 193 billion, registering a 74% year-on-year increase, driven largely by higher international gold prices.

Analysts suggest that this trend highlights a shift in investor behaviour, with gold increasingly being used as a hedge against inflation, currency fluctuations, and geopolitical risk. Even as jewellery demand remains relatively stable, investment-led demand is playing a more dominant role in shaping overall market dynamics.

The report indicates that gold continues to retain its strategic importance in global portfolios, particularly during uncertain macroeconomic conditions, where investors seek stability and long-term value preservation.

Overall, the Q1 data reflects a resilient gold market, where modest volume growth is being outweighed by strong value expansion, underpinned by robust investment interest.

Credit Card Spending Surges 2 pc in March to INR 2.19 Lakh Crore

New Delhi, Apr 29 (BNP): India’s credit card spending recorded a strong month-on-month rise in March, increasing by 24% to ₹2,194 billion (₹2.19 lakh crore), supported by seasonal demand and a lower base effect, according to a recent report released on Tuesday.

The data indicates that while overall spending saw a noticeable jump, the broader consumption pattern is gradually stabilising, suggesting a normalisation in credit-driven expenditure trends.

Analysts noted that the increase in March spending was influenced by seasonal factors, which typically drive higher consumer activity during the period. However, when viewed over a longer period, spending growth appears to be moderating compared to earlier high-growth phases.

The report further highlighted that credit card usage continues to remain an important indicator of urban consumption, reflecting spending behaviour across categories such as retail, travel, and services.

Despite short-term fluctuations, experts suggest that consumer spending remains steady, with credit usage aligning more closely with income growth and broader economic conditions.

Overall, the data points to a healthy but stabilising credit card market, where sharp monthly increases are balanced by a more sustainable long-term growth trend.

LPG Booking Rules, Delivery System and Prices Set for Key Changes from May 1

New Delhi, Apr 29 (BNP): Major changes in LPG booking rules, delivery verification, and pricing are expected to come into effect from May 1, along with a continued push towards cleaner fuel usage, according to recent policy updates.

Under the revised system, booking intervals for LPG cylinders will be extended. Urban consumers will need to wait 25 days between bookings, while rural consumers will have a 45-day gap, compared to the earlier shorter cycle. The move is aimed at improving supply management and ensuring smoother distribution.

A key update is the introduction of a mandatory OTP-based delivery verification system. Consumers will now need to confirm LPG deliveries through a one-time password sent to their registered mobile numbers. This digital system is intended to improve transparency and reduce misuse, hoarding, and diversion of subsidised cylinders.

On the pricing front, LPG rates have already seen an increase in recent months, with domestic cylinders rising by about ₹60 in April. Commercial cylinder prices have also increased more sharply, and further revisions may take place depending on global crude oil movements and market conditions.

The government is also continuing its focus on promoting piped natural gas (PNG). In areas where PNG infrastructure is available, households may be encouraged to switch, with phased restrictions on LPG supply for eligible users expected over time.

Despite global uncertainties, officials have said LPG, PNG, and CNG supplies remain stable, with priority being given to essential services. Consumers have been advised to avoid panic buying and complete necessary eKYC updates to ensure uninterrupted service.

Overall, the changes are aimed at improving efficiency, strengthening supply management, and gradually shifting consumers towards cleaner and more sustainable energy options.

Enviro Infra Engineers Announces Strategic Acquisition of Wind EPC Company Suyog Urja Limited

New Delhi, Apr 29: Enviro Infra Engineers Limited, a leading player in the water and wastewater treatment sector, announced that its wholly owned subsidiary, EIE Renewables Private Limited, has entered into Share Purchase Agreement to acquire a controlling stake in Suyog Urja Limited, a wind energy EPC company.

This strategic acquisition marks a significant step in Enviro’s journey to build a diversified and integrated renewable energy platform, complementing its established presence in water and wastewater infrastructure.

Commenting on this move, Mr. Sanjay Jain, Chairman, Enviro Infra Engineers Limited, said:

“This acquisition marks a significant milestone in our vision to deliver diversified solutions for a greener planet. Our strategy has consistently been to deepen our presence across the sustainability ecosystem, and the addition of wind EPC capabilities further strengthens that vision. Alongside our existing strengths in water and wastewater treatment, solar and energy storage, we are now well positioned to deliver integrated, future-ready solutions to our clients. Suyog Urja brings deep domain expertise, a strong execution track record, and long-standing relationships with leading developers. With a healthy order book and strong growth visibility, this acquisition further strengthens our renewable platform and positions us to capitalise on emerging opportunities in the energy transition.

We remain committed to disciplined capital allocation, operational excellence, and creating long- term value for all stakeholders, while continuing to scale our core water and wastewater business.”

Commenting on this acquisition Mr Chetraj Khadka, CEO, Suyog Urja Limited said,

“Partnering with Enviro Infra Engineers marks an important milestone for Suyog Urja. Their strong balance sheet, execution track record, and growing presence in renewables provide the right platform for our next phase of growth. Together, we are well-positioned to scale our wind EPC capabilities, pursue larger and more complex projects, and deliver integrated renewable solutions across solar, wind, and storage.”

Post-acquisition, the consolidated order book of the ENVIRO group stands at approximately ₹5,600 crore. ₹4,400 crore in EPC (₹2,500 crore water, ₹1,900 crore renewables), along with ₹1,200 crore in O&M and an IPP portfolio comprising 79 MW of solar and 150 MWh of BESS.

Strategic Rationale

The acquisition enables Enviro to expand into the high-growth wind energy EPC segment, adding a critical capability to its existing renewable portfolio spanning solar and battery energy storage systems (BESS).

Suyog Urja Limited brings with it:

• ·Build capabilities across Solar, Wind, and BESS, unlocking opportunities in hybrid renewable projects
• ·Strengthen its position in power transmission and evacuation infrastructure
• ·Diversify its client base with high-credit-rated private sector clients
• ·Leverage the acquired company’s experience of over 500 MW of projects completed, and 600 MW of projects under execution
• ·A well-established technical team and in-house capabilities across land acquisition, regulatory approvals, engineering, execution, and commissioning
• ·A healthy order book of approximately ₹650 crore, along with a strong pipeline of additional opportunities
• ·Strengthening Renewable Platform

With this acquisition, Enviro strengthens its renewable energy vertical as a multi-segment platform, enabling:

• ·Entry into a new and complementary renewable segment
• ·Enhanced ability to deliver end-to-end solutions across solar, wind and BESS
• ·Access to a broader set of customers and project opportunities
• ·Increased competitiveness in large-scale infrastructure and energy transition projects
• ·The acquisition aligns with Enviro’s broader strategy of diversifying into high-growth adjacencies, while continuing to scale its core wastewater treatment business.

Operational Synergies

The acquisition is expected to deliver multiple strategic and operational benefits, including:

• ·Leveraging complementary expertise across engineering, procurement and project execution
• ·Strengthening capabilities in land acquisition, regulatory approvals and project execution and Commissioning
• ·Enabling cross-functional synergies across Enviro’s water and renewable segments
• ·Building a platform for integrated infrastructure solutions
• ·Suyog Urja’s established relationships with leading renewable energy developers further enhance Enviro’s access to repeat business opportunities and long-term client partnerships.

Transaction Overview

The Company, through its Wholly Owned Subsidiary, has acquired 51% for ₹ 111 crore, followed by 24% for ₹ 108.85 crore in 2027, and the remaining 25% for ₹ 91.15 crore in 2028, taking total ownership to 100%. The erstwhile Promoter, Mr. Chetraj (with an overall experience of 20 years), will continue as CEO. The transaction will be funded through a 50:50 mix of equity and debt.

Suyog Urja Limited operates an asset-light, zero-debt model with PAT margins above 11%. For FY26, it is expected to report revenue of ₹ 355 crore and PAT of ₹ 38 crore, supported by an order book of ~₹650 crore and a 160+ strong technical team.

Tranche 2 and Tranche 3 valuation is KPI based. The cumulative PAT of ₹ 175 Crore for F.Y. 2026 to F.Y. 2028, along with an opening order book projected at more than ₹ 1,090 crore as on 1st April 2028, justifies the valuation of ₹ 311 Crore.

 

SIP in Balanced Advantage Funds Promotes Discipline Amid Market Volatility

Mumbai, Apr 29 (BNP): Systematic Investment Plans (SIPs) in Balanced Advantage Funds are emerging as a disciplined investment approach for retail investors navigating volatile market conditions, according to recent market commentary and investment trends.

Balanced Advantage Funds, which dynamically adjust their equity and debt exposure based on market conditions, are increasingly being viewed as a stable option for long-term wealth creation. These funds aim to reduce downside risk during market downturns while capturing growth opportunities during upswings.

Financial experts note that combining SIPs with Balanced Advantage Funds helps investors maintain consistency in their investment behaviour, especially during periods of market uncertainty. Regular monthly investments reduce the impact of short-term volatility and help avoid emotional decision-making.

The approach is particularly relevant in the current environment, where equity markets are experiencing fluctuations driven by global cues, interest rate expectations, and geopolitical developments. SIPs ensure that investors continue investing at different market levels, which helps in averaging purchase costs over time.

Investment advisors highlight that Balanced Advantage Funds are designed to automatically rebalance portfolios between equity and debt, making them suitable for investors seeking a relatively smoother investment experience compared to pure equity funds.

Overall, the combination of SIP discipline and dynamic asset allocation is being positioned as a strategy that supports long-term financial goals while managing market uncertainty more effectively.

Rupee Opens Lower, Falls 13 Paise to 94.81 on Oil Price Rise and Dollar Demand

Mumbai, Apr 29 (BNP): The Indian rupee traded weaker in early session on Wednesday, declining 13 paise to 94.81 against the US dollar, as higher global crude oil prices and persistent dollar demand weighed on market sentiment.

The currency opened at 94.79 in the interbank foreign exchange market and slipped further to 94.81 in initial deals, reflecting continued pressure from external factors.

Forex market participants said rising crude oil prices have increased import-related concerns, while month-end dollar demand and a cautious global risk environment have added to the pressure on emerging market currencies, including the rupee.

Traders also pointed to global developments, noting that investors are closely watching the upcoming US Federal Reserve policy decision. While no change in interest rates is widely expected, market attention remains focused on the central bank’s commentary for cues on future direction.

Overall, sustained strength in crude oil prices and global uncertainty continue to influence short-term movement in the rupee, keeping it under mild pressure.

Brevistay Partners with Unlimit to Simplify Digital Payments

Apr 29 (BNP): Brevistay has integrated with the unified payment infrastructure of Unlimit to simplify and accelerate its payment operations across India and global networks. The collaboration is designed to remove the complexities of fragmented payment systems and deliver a smoother, faster transaction experience for users.

By adopting Unlimit’s programmable payment layer, Brevistay gains seamless access to multiple payment rails, including UPI and international card networks, through a single integration. This eliminates the need for multiple system connections and reduces operational inefficiencies, enabling faster deployment and improved reliability.

The partnership comes at a time when the global payments landscape is becoming increasingly complex. While financial infrastructure is consolidating at the backend, customer-facing payment methods are becoming more localized and fragmented. For high-frequency platforms like Brevistay, which offers flexible, short-duration stays, ensuring fast and reliable payments is essential to maintaining user experience.

Unlimit’s infrastructure helps address this challenge by simplifying the underlying payment architecture and abstracting regional complexities into a unified system. This allows businesses to focus on scaling operations rather than managing technical and regulatory barriers.

Speaking on the partnership, representatives from Unlimit noted that payments form a core part of modern digital businesses and must function as a stable backbone for growth. By providing access to its global payment infrastructure, the company aims to help platforms scale across markets without being slowed down by fragmented systems.

From Brevistay’s perspective, the integration ensures that payment processing keeps pace with the speed of its booking model. The company highlighted that a seamless and efficient payment system is critical for delivering a smooth customer experience in the on-demand hospitality space.

As Brevistay prepares for further expansion, the partnership is expected to support its growth by offering a more flexible, scalable, and globally aligned payments framework.

Viksit Bharat Envisions Inclusive Growth Beyond GDP, Says Nirmala Sitharaman

Mangaluru, Apr 29 (BNP): Union Finance Minister Nirmala Sitharaman said that India’s Viksit Bharat vision is centered on inclusive development and shared prosperity, moving beyond traditional measures of economic growth such as GDP.

Speaking at an event at NITTE, she stressed that India must view development as an ongoing journey rather than a finished goal. The long-term objective, she said, is to build a developed nation by 2047 through collective effort across all sections of society.

She explained that the vision of Viksit Bharat is fundamentally human in nature, focusing on improving quality of life through access to education, healthcare, meaningful employment, and a clean environment. According to her, true progress is reflected in people’s aspirations and opportunities, not just economic numbers.

Highlighting the changing mindset of India’s youth, especially young women, she noted that aspirations have shifted from basic survival to achieving excellence, global competitiveness, and professional success. This transformation, she said, reflects a confident and ambitious new India.

Sitharaman also emphasized inclusive development, stating that progress must reach farmers, fishermen, and tribal communities. She underlined the importance of equipping them with modern resources, financial security, and market access while preserving their cultural identity and way of life.

She further pointed out that India’s demographic advantage—nearly 900 million people under the age of 35—represents a major opportunity for growth and innovation if properly harnessed.

Calling Viksit Bharat a national mission, she said it requires active participation from the government, private sector, academia, and citizens. While policy provides direction, she added, the real momentum will come from the collective effort of India’s people.

In conclusion, she described Viksit Bharat as a model of development that prioritizes inclusion, dignity, and shared prosperity, ensuring that economic progress benefits every section of society.

Aimtron Reports Strong FY26 Performance, Revenue Nearly Doubles Year-on-Year, Driven by High-Value Manufacturing 

Vadodara, April 29: Aimtron Electronics Limited, one of India’s fastest-growing electronics design and manufacturing companies, announced its audited consolidated financial results for the half-year and year ended 31 March 2026, delivering a strong performance driven by continued momentum across its Electronics Manufacturing Services (EMS) and Electronics System Design & Manufacturing (ESDM) businesses. For H2 FY26, Aimtron Electronics Limited reported consolidated revenue from operations of ₹1,786 Mn, EBITDA of ₹369 Mn, and profit after tax of ₹257 Mn. H2 FY26 revenue grew 45.7% over H1 FY26, reflecting strong execution momentum during the second half of the year.

On a full-year basis, FY26 consolidated revenue from operations grew 89.2% year-on-year to ₹3,012 Mn, compared with ₹1,592 Mn in FY25. Profit After Tax increased 79.4% to ₹460 Mn, compared with ₹256 Mn in FY25. This growth was underpinned by robust order execution, an improved product mix, and increasing contribution from high-value design-led manufacturing programs, including ODM and box-build solutions across the Network Security, Green Energy, Industrial, IoT, and AI sectors, alongside sustained operational efficiencies at Aimtron Electronics Limited.

EBITDA margin stood at 22.6% in FY26, with the modest compression reflecting early-stage investments in the company’s newly established international and manufacturing subsidiaries. PAT margin stood at 15.3% in FY26, with the variance attributable to higher tax provisions and consolidation of subsidiary operations.

Commenting on the performance, Mr. Mukesh Jeram Vasani, Chairman, Aimtron Electronics Limited, said

“FY26 was an important year in Aimtron’s growth journey, marked by nearly doubling our revenue, establishing deeper customer relationships, and accelerating our strategic initiatives. Our focus on design-led, high-reliability manufacturing continues to open new opportunities across domestic and international markets. As we enter FY27, we remain committed to scaling with discipline, strengthening our capabilities, and delivering long-term value to our customers, partners, and shareholders.” 

Looking ahead, the company remains confident of maintaining its growth momentum, supported by a strong pipeline of opportunities, continued expansion into global markets, and increasing demand for integrated electronics design and manufacturing solutions.
Key Financial Highlights (Consolidated) — FY26 vs FY25

India Likely to Stay Stable Despite Global Uncertainty, Says Bank of Baroda

New Delhi, Apr 29 (BNP): India is expected to remain relatively stable and resilient despite increasing uncertainty in the global economy, according to a report by the Bank of Baroda.

The report highlights that the global economic environment is currently facing several challenges, including geopolitical tensions, fluctuating commodity prices, and tighter financial conditions. These factors have created volatility across many economies. However, India is seen as better prepared to deal with such external pressures.

One of the key reasons for this resilience is strong domestic demand, which continues to support economic activity within the country. In addition, India’s banking and financial systems remain stable, helping maintain confidence among investors and businesses.

The report also points to prudent government policies and ongoing reforms that have strengthened the country’s economic foundation over time. These measures are expected to help India absorb global shocks more effectively and avoid major disruptions.

While risks from the global environment still remain, the overall outlook for India is positive. The country’s strong macroeconomic fundamentals are likely to act as a cushion, supporting steady growth in the near and medium term.

In essence, even as the global economy faces uncertainty, India is well-positioned to manage challenges and sustain its growth momentum.