Category Archives: Business

India Resilient but Oil Shock May Slow Growth: S&P

New Delhi, Apr 14 (BNP): India’s solid macroeconomic and financial sector fundamentals are expected to soften the blow from a sustained rise in global crude oil prices, even though higher energy costs could weigh on overall economic growth, according to S&P Global Ratings.

 Pic Credit: Pexel

Under a stress scenario where Brent crude averages around USD 130 per barrel in 2026, India’s GDP growth could be lower by as much as 80 basis points, the rating agency said.

S&P Global Ratings added that corporate profitability would also come under pressure in such a scenario, with earnings before interest, tax, depreciation and amortisation (EBITDA) expected to fall by 15–25 per cent in FY27, while leverage could rise by 0.5–1.0 times.

The agency further cautioned that banking sector asset quality may weaken under prolonged stress, with gross non-performing assets potentially rising to about 3.5 per cent.

Fuel Price Freeze Deepens Losses for OMCs as Under Recoveries Surge

New Delhi, Apr 14 (BNP): India’s oil marketing companies (OMCs) are reportedly facing significant under-recoveries on fuel sales as retail prices remain unchanged despite elevated global crude oil costs.

Industry estimates indicate that OMCs are currently incurring losses of around ₹18 per litre on petrol and nearly ₹35 per litre on diesel. These losses stem from the gap between stagnant retail prices and higher international crude and refining costs.

The price freeze has been maintained to protect consumers from sharp fluctuations in global energy markets. However, sustained volatility in crude oil prices continues to pressure the margins of fuel retailers, intensifying financial stress across the sector.

Gold ETF Inflows Jump to INR 31,561 Crore in March Quarter Amid Global Uncertainty

Mumbai, Apr 14 (BNP): Investments in Gold Exchange Traded Funds (ETFs) saw a sharp rise in the March 2026 quarter, as investors turned to gold for safety amid global uncertainty.

 Pic Credit: Pexel

Net inflows into Gold ETFs stood at ₹31,561 crore, nearly six times higher than the same period last year. On a quarterly basis, inflows also rose by about 36%, showing continued demand for gold-backed investments.

Market experts say investors preferred gold during the period due to geopolitical tensions and volatility in financial markets, which boosted its appeal as a safe-haven asset.

Along with higher inflows, the overall size of gold ETF investments and the number of investor accounts also increased during the quarter, indicating growing participation in this segment.

SPEXA 2026: Bringing Global Space Leaders Together to Unlock New Business Horizons

Timex Introduces the New iConnect Alpha Range

New Delhi, April 14: In an era where endless scrolling dominates social media, Mad Monkey AI is taking a different approach by inviting students to help build a more purposeful alternative. The company has announced the upcoming launch of its social platform and opened early access through a pre-launch waitlist. The initial rollout will focus exclusively on student communities, placing them at the centre of the platform’s evolution. This marks the beginning of a student-led movement to redefine social media toward more intentional and meaningful engagement.

At the heart of this initiative is the Founding Campus Founders programme. Each participating college will onboard a select group of early student leaders who will play a direct role in shaping how the platform develops. These builders will initiate and lead Sparks, which are collaborative, project-based interactions within the app, while also fostering active campus communities around shared ideas and execution.

Speaking on the announcement, Lakshman Devarajan, Founder and CEO of Mad Monkey AI said, 

“We are building this platform with a clear focus on how students actually want to use their time and ideas. The early response has shown that students want more than passive engagement. They want to contribute and be recognised for what they build. That is why we have opened up the process at this stage itself. The Campus Founders are helping define the platform. Their inputs are already shaping product decisions, and this will continue as we scale across campuses. We see this as a long-term build with the community at the centre of it.”

To support the rollout, Mad Monkey AI has initiated a campus-focused campaign in which student creators and influencers are introducing the platform within their networks. As part of these early community-building efforts, the company has onboarded 25 student influencers across 5 major cities in India including Delhi, Mumbai, Hyderabad, Bangalore, and Chennai. This initial campaign has already generated 550+ waitlist sign-ups, primarily from students across colleges and universities. The initiative encourages students to sign up for the waitlist and engage with the concept early, helping to build momentum ahead of the official launch.

The campaign centres on a clear call to action that encourages students to move from passive consumption to active participation by starting or joining Sparks. These Sparks enable users to collaborate with peers to build tangible outcomes such as concepts, solutions, or shared initiatives. Early examples of such collaborations will be showcased to give prospective users a clear understanding of how the platform is intended to be used.

Inputs from Campus Founders and early users are being actively reviewed, with high-engagement ideas considered for direct implementation into the platform. Mad Monkey AI is currently in discussions with multiple colleges and universities for early partnerships as part of its Founding Campus Founder Program. Contributors whose ideas are adopted will be visibly recognised within the product and across official channels. This includes attribution within feature sections, visibility on the platform, and public acknowledgement of their role in building the ecosystem. The co-creation model is designed to foster a strong sense of ownership and provide tangible recognition that extends beyond traditional campus programmes.

Markets Closed for Ambedkar Jayanti; Trading to Resume on April 15

Mumbai, Apr 14 (BNP): Indian financial markets remained shut on Tuesday, April 14, 2026, in observance of Ambedkar Jayanti, marking the birth anniversary of Dr. B. R. Ambedkar.

The closure applies to major exchanges including the National Stock Exchange of India and the Bombay Stock Exchange, with trading suspended across equity, derivatives, and currency segments. The forex market also remained closed for the day in line with the holiday schedule.

According to the official trading calendar, normal market activity is set to resume on Wednesday, April 15, 2026.

Commodity exchanges observed a partial holiday, with morning trading sessions remaining closed, while evening operations are expected to reopen as per standard schedule.

The market holiday provided a pause in trading activity across segments, aligning with the nationwide observance of Ambedkar Jayanti.

SWITCH Mobility completes India’s largest electric bus export to Mauritius

Chandigarh, April 14: SWITCH Mobility, a global manufacturer of electric buses and light commercial vehicles, part of the Hinduja Group, has completed the delivery of 100 electric buses to the Government of Mauritius, marking a significant milestone in the ongoing collaboration between India and Mauritius in advancing sustainable public transportation.

The final lot of 90 buses were handed over by External Affairs Minister of India, Dr. S Jaishankar to the Prime Minister of Mauritius, Dr. Navinchandra Ramgoolam as part of a broader Government-led engagement involving senior dignitaries from both nations. The buses were delivered through an open tender conducted by Convergence Energy Services Limited (CESL) in India and are operated by the National Transport Corporation (NTC), Mauritius’ state-owned public transport operator.

This deployment represents the largest export of electric buses from India. The delivery follows a government to government arrangement, under which the 100 electric buses are being provided as a donation from the Government of India to the Government of Mauritius to promote clean mobility in the country. The initiative aims to support the modernization and sustainability of public transportation in Mauritius.

Designed for efficient public transportation, the SWITCH EiV12 integrates advanced engineering with intelligent technology to deliver high reliability, operational efficiency, and superior passenger comfort. With spacious seating for up to 45 passengers, the ergonomically optimized and meticulously manufactured bus meets global standards in performance, safety, durability, and reliability, making it ideal for modern urban commutes. Powered by SWITCH iON, the company’s proprietary telematics system, it enables real-time vehicle health monitoring, intelligent transport management, and fleet optimization. Floor-mounted lithium iron phosphate (LFP) batteries provide a low centre of gravity for improved stability. Additionally, a rear dual-gun charging interface supports faster turnaround times and efficient depot operations.

Commenting on the completion of the order, Mr. Ganesh Mani, CEO, Switch Mobility, said,

“Mauritius is taking meaningful strides towards building a cleaner and more sustainable public transport system, and we are proud to be part of this journey. The completion of this 100-bus delivery marks an important milestone in strengthening the country’s transition to electric mobility, with tangible benefits for urban efficiency, environmental sustainability, and everyday commuter experience. As a global EV manufacturer building in India for the world, Switch Mobility remains committed to supporting Mauritius in shaping a greener, more resilient, and future-ready transport ecosystem.”

The deployment aligns with broader environmental and urban development goals in Mauritius, focusing on reducing emissions and improving public transit efficiency. This export is seen as a milestone in SWITCH Mobility’s efforts to expand into global markets.

Instamart and Kalyan Jewellers Enable Customers to Lock Today’s Gold Price for Akshaya Tritiya

Chandigarh, Apr 14: This Akshaya Tritiya, jewellers are making it easier for gold buyers to plan ahead despite changing prices. Instamart, India’s pioneering quick commerce platform, has partnered with Kalyan Jewellers to facilitate Gold Rate Protection, a first-of-its-kind feature that lets consumers lock today’s gold rate and buy on the day of Akshaya Tritiya, for whichever price is lower the lock-in price or the market rate on that day.

Gold holds enduring significance during Akshaya Tritiya, symbolising prosperity and auspicious beginnings. As customers plan their purchases in the lead-up to the festival, ease and assurance become equally important. Instamart’s Gold Rate Protection, makes it both convenient and reassuring for users ordering BIS hallmarked gold coins from Kalyan Jewellers.

How It Works

Between April 10 and April 16, 2026, consumers can select eligible Kalyan Jewellers gold coins on the Instamart app and pay 5% advance, starting from ₹500 for a 0.5 gm gold coin to prebook and take delivery on Akshaya Tritiya. On April 19, between 8:00 AM and 12:00 PM IST, they complete their purchase at the lower of the two prices – gold rate on the day of pre-booking or as per delivery date, whichever is lower. All prebook customers will also receive a free silver coin from Kalyan Jewellers.

Arjun Choudhary, VP Growth, Instamart,

“At Instamart, we’ve consistently looked to innovate around how Indians shop for precious metals during key occasions, from delivering 1 kg silver bricks during Dhanteras to introducing silver Rakhis for Raksha Bandhan. The gold Rate protection is a feature designed to help consumers navigate gold prices with greater confidence during the festival. By allowing users to secure a price in advance while still benefiting from any price drops, we strive to offer strong overall value to consumers. This is quick commerce going beyond convenience to deliver meaningful value on culturally significant purchases.”

Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers,

“Gold rate protection has been a preferred feature across Kalyan Jewellers’ retail showrooms, offering customers greater assurance while planning their festive purchases. With Instamart, we are extending this for the first time to a quick commerce platform. As traditions evolve, we remain committed to making gold buying both meaningful and seamless.”

Last year, Instamart witnessed a surge of over 500% in gold and silver coin sales on Akshaya Tritiya compared to Dhanteras, underlining the growing appetite among Indian consumers for quick commerce as a trusted channel for auspicious purchases.

This initiative is the latest in Instamart’s continued effort to go beyond everyday essentials, cementing its role as a destination for meaningful, occasion-led purchases delivered with the speed and trust its customers have come to rely on.

All gold and complimentary silver coins are BIS Hallmarked, 24 Karat Kalyan Jewellers gold coins, will be subject to availability and subject to the terms of the offering.

 

SITL confirms its transformation and strengthens its position as a strategic meeting point for the industry

• a round table on resilience at 10 a.m., attended by General Fabrice Feola
• a technical session on public procurement at 11:20 a.m., open to all
• a walk-through visit with private operators at 1 p.m.
• followed, at 2 p.m., by an exclusive debrief of the Excalibur exercise for a selected audience of major transport and logistics players

• Operations: Urbantz
• Intralogistics: Packsize
• Infrastructure / Real Estate and Territories: Drop’n Plug
• Services: Weenlo
• HR Policy: CGI / City’Pro / Réseau C&S
• Special Jury Prize: Sensolus (Intralogistics)
• Special Jury Prize: Monstock (Operations)

​Toscano Starts Its Second Chapter in Delhi, Expands With Another Outlet in Pitampura

Delhi, Apr 14: Toscano has steadily become the go-to brand for Italian dining in India. After finding warmth from its patrons in Bengaluru, Chennai, Mumbai, Pune, Hyderabad and Delhi, it has come back to the capital with another outlet. Their authentic Tuscan-inspired menu of pizzas, handmade pastas and delicious main courses will now also be available in Pitampura’s Unity One Mall. 

Co-founded by Chef Jean-Michel Jasserand and Chef Goutham, their combined eye blending European technique with local sensibilities gives Toscano its award-winning edge. Over 20 outlets across India, the regulars know and return for their menu spanning sourdough pizzas, seasonal specials and Italian multi-course experiences. With each dish reflecting balance, technique, and flavour consistency, Toscano transports you to Italy, while still being in Delhi. 

Look for the Insalata di Formaggio di Capra e Pere with goat cheese and roasted pears; the Pizza Toscano, for pizza lovers, Salmon Grigliato with Norwegian salmon. The Chicken di Toscano, filled with spinach and ricotta, is a staple across every city Toscano has entered. The beverage menu pairs wines and cocktails to the food with the same level of detail by the coming month, until then guests can enjoy the refreshing mocktails at the outlet. The dessert menu ensures a lingering aftertaste of a complete meal. Their house Tiramisu is much talked about, the Crème Brule and Kahlua Mousse have gained a loyal audience across six major cities. 

The interiors follow the brand sensibility earthy tones, dark green, brown accents, lighting that doesn’t try too hard. Alfresco seating brings in the European element easily within. 

“Opening our second outlet in Delhi is a proud milestone for Toscano. We are bringing the same obsessive dedication to quality that defines us across India, now available in a new neighbourhood in the capital. We invite Delhi to savor the craft and enjoy the Italian dining experience made with love ,” says Rohit Tokhi, COO. 

The second address in Delhi is now open. Come in, the menu and hospitality ensures you have a good time.