Category Archives: Business

Silver Futures Fall to INR 2.36 Lakh/kg Amid Dollar Strength and Oil Price Pressure

New Delhi, April 29: Silver prices declined in futures trade on Wednesday as investors reduced positions amid a stronger US dollar and rising crude oil prices, which weighed on overall bullion demand.

On the Multi Commodity Exchange (MCX), silver futures for May delivery fell by ₹1,137, or 0.48%, to ₹2,36,208 per kilogram, with a trading volume of 2,020 lots.

The July contract also weakened, dropping by ₹1,964, or 0.81%, to ₹2,40,799 per kilogram, in a business turnover of 6,868 lots.

Market analysts said pressure on precious metals increased as oil prices remained elevated and currency movements reduced investor appetite for safe-haven assets like silver.

Ericsson tops Frost Radar 5G Network Infrastructure Market ranking for sixth year running

For the sixth consecutive year, Ericsson has been positioned as the clear leader in Growth and Innovation by Frost & Sullivan’s “Frost Radar™: 5G Network Infrastructure, 2026” report. This recognition underscores Ericsson’s position as a long-term partner for 5G evolution, setting the pace for AI-driven, open, and sustainable 5G networks.

The analysis places Ericsson at the forefront among the top 20 leading companies assessed in a field of more than 100 global industry participants.

The Frost Radar report identifies Ericsson as the leader in both the Growth axis and Innovation axis, highlighting the company’s comprehensive 5G network infrastructure portfolio spanning radio access networks (RAN), transport, and core and edge networks, including traditional RAN, open and virtual RAN, AI-enabled RAN, and private networks, as well as its proven ability to scale innovation globally. It also notes the company’s progress with network APIs as a road to new innovation around mobile networks and utilizing AI to automate its network offerings.

Ericsson’s sustained leadership in both the Growth Index and the Innovation Index demonstrates the company’s ongoing investment in a broad product portfolio, as well as its ability to turn innovation into large-scale, real-world solutions that customers can trust over time.

The report notes Ericsson’s strong and sustained investment in research and development, with almost 21 percent of revenue invested in R&D in 2025. Frost & Sullivan also highlights Ericsson’s role as a founding member of the AI RAN Alliance, and its continued focus on energy efficiency. Ericsson’s target is to reduce energy consumption at new typical radio base station sites by 40 percent by 2025 compared with a 2021 baseline has already been achieved, now extended to 50 percent by 2027.

Energy performance improvements are achieved through a combination of network evolution and innovation across Ericsson’s portfolio — from RAN modernization with high‑performing, energy‑efficient hardware to software innovations that embed intent‑driven and AI‑enabled energy‑saving features for intelligent network operation, and the continuous optimization of Ericsson’s dual-mode 5G Core and Cloud Native Infrastructure Solution for the market’s latest processors to reduce energy consumption, while improving performance.

“Being recognized once again by Frost & Sullivan as the leader for both growth and innovation reflect our continued investment in research and development and our focus on building technology that is scalable”, says Per Narvinger, Executive Vice President and Head of Business Area Networks at Ericsson. “We apply AI throughout our full portfolio — from Massive MIMO and Remote Radios, to network management, Transport, OSS/BSS, and Core — and we already see major AI gains, enabling more open, automated, and energy-efficient 5G networks, supporting our customers’ long–term network evolution.” 

Troy Morley, Industry Principal analyst, Frost & Sullivan Information, Communications and Technologies, says: “Ericsson significantly stands out in the 2026 Frost Radar analysis for its ability to combine innovation leadership with strong growth execution. Ericsson’s strength lies in its ability to scale innovation globally across generations of mobile technology, supported by significant and sustained investment in R&D. The company’s comprehensive 5G portfolio, leadership in open and virtual RAN, and progress in energy efficiency position Ericsson strongly as the market continues to evolve.”

The Frost Radar measures growth rates in addition to absolute revenue and combines them with several other factors to measure companies’ performance on the Growth Index. The Frost Radar measures innovation for each company by assessing its product portfolio, the scalability of its innovations, the efficacy of its R&D strategy, and several other factors.

Warehousing Demand Shifts Toward Western India as Delhi-NCR Slows

Mumbai, Apr 29 (BNP): India’s warehousing sector is witnessing a clear regional shift, with Mumbai and Pune emerging as key growth hubs, while Delhi-NCR has recorded a notable slowdown in activity, according to a recent report by Vestian.

The report highlights that western India continues to attract strong industrial and logistics investments, supported by better infrastructure connectivity, proximity to ports, and rising demand from e-commerce and manufacturing sectors.

Mumbai and Pune have seen increased warehousing absorption, driven by expanding supply chains and growing need for modern storage and distribution facilities. These cities are benefiting from strong industrial ecosystems and improved logistics networks.

In contrast, Delhi-NCR has witnessed a sharp decline in warehousing activity, reflecting slower leasing momentum and shifting investor preference toward western and southern corridors.

Industry experts note that India’s warehousing landscape is becoming more decentralised, with companies diversifying operations to improve efficiency and reduce logistics costs.

The trend also reflects the broader growth of India’s logistics and supply chain sector, which is being reshaped by e-commerce expansion, manufacturing growth, and infrastructure upgrades.

Overall, the report indicates a realignment in India’s warehousing demand, with western regions gaining prominence in the country’s evolving logistics map.

Solar Adoption Rises as Countries Cut Dependence on Fossil Fuels

New Delhi, Apr 29 (BNP): The global transition toward renewable energy is gaining pace, with more countries increasingly adopting solar power as fossil fuel prices remain high and global energy supply chains face uncertainty, according to the Director General of the International Solar Alliance (ISA).

He noted that volatility in oil and gas markets, along with geopolitical disruptions, is prompting nations to look for cleaner, more stable, and cost-effective energy alternatives. Solar energy, in particular, is emerging as a key solution for strengthening long-term energy security.

The ISA highlighted that rapid improvements in solar technology, declining installation costs, and better storage systems are making solar power more accessible and viable across both developed and developing economies.

Experts say the global energy transition is also being driven by climate commitments and supportive government policies aimed at reducing carbon emissions and increasing the share of renewables in the energy mix.

The Alliance stressed that solar energy will play a central role in ensuring affordable and sustainable electricity access while reducing dependence on imported fossil fuels.

ixigo Launches Native Travel Apps on ChatGPT; Brings Conversational Travel Planning Across Flights, Trains, Buses and Hotels

Mumbai, Apr 29: ixigo, India’s leading AI-based travel platform, today announced the launch of native apps for its three platforms – ixigo flight & hotel, AbhiBus, and ConfirmTkt – inside ChatGPT, bringing end-to-end travel planning directly into a conversational AI interface.

With this integration, users can search and compare travel options across flights, buses, trains, and hotels in real time within ChatGPT and then seamlessly proceed to booking via the respective ixigo Group apps through simple conversational prompts. ixigo has also introduced real-time flight tracking inside ChatGPT, enabling users to track flights and access key updates on boarding gate, baggage belt, check-in counters, and more.

Users can enable ixigo’s apps in ChatGPT and get started by simply typing “@ixigo”, “@AbhiBus” or “@ConfirmTkt” in a prompt. Using natural language, they can search for domestic and international flights with real-time prices and availability, access intelligent fare insights, and view nearby dates with the best fares—helping travellers optimise their plans when their schedules are flexible. This built-in price intelligence brings contextual, real-time decision-making directly into the conversational experience. Users can also track live flight status seamlessly within the same flow, and to proceed to make bookings, they are then led into the ixigo app/website.

This also extends to hotel discovery and bookings, including deep, conversational queries – for instance, going from a simple prompt like “find me a seaside hotel in Goa” to real options, dynamic pricing, and booking options. The ixigo app further enhances this journey with integrated airport cab options, enabling travellers to find reliable and cost-effective rides to and from major airports across the country.

With the integration of AbhiBus (ixigo’s bus platform) on the ChatGPT app store, users can explore, compare, and book intercity bus travel with a wide range of options. Within a single conversation, they can browse and filter buses by brand-new, top-rated, budget, and EV options, compare operators, check schedules, and seamlessly proceed to booking.

ConfirmTkt app on ChatGPT extends this experience to rail travel, allowing users to search train availability through simple prompts, get confirmed ticket alternate options across routes within ChatGPT and then seamlessly proceed to booking via the ConfirmTkt app or website.

Speaking on the launch, Rajnish Kumar, Group Co-CEO and Aloke Bajpai, Group CEO, ixigo said,

“We’re reimagining how travel planning, search and bookings can leverage horizontal AI platforms. By bringing ixigo apps to ChatGPT across ixigo, ConfirmTkt and Abhibus, over a billion monthly users of ChatGPT can now go from a simple question to a complete travel plan with real-time insights, live tracking and booking options- all within one conversation and in seconds.”

With this launch, ixigo reinforces its position as an AI-first travel platform, bringing together discovery, insights, and booking into one unified conversational flow and taking a significant step towards shaping the future of travel planning.

 

Gold Prices Edge Higher in Futures Trade Amid Global Uncertainty

New Delhi, Apr 29 (BNP): Gold prices moved slightly higher in futures trade on Wednesday as investors remained cautious ahead of the US Federal Reserve’s upcoming policy decision.

 On the Multi Commodity Exchange, the most-traded June gold contract rose by ₹93, or 0.06%, to ₹1,50,120 per 10 grams, with a trading volume of 9,067 lots.

Market analysts said support came from a weaker US dollar and ongoing geopolitical tensions in West Asia, which continued to encourage safe-haven buying in gold.

However, gains were limited due to higher crude oil prices, which weighed on broader commodity sentiment.

Overall, market participants are awaiting clarity from the US Fed policy outcome, which is expected to guide near-term movement in gold prices.

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.