India's economic environment is favorable for private investments, revealing a bright outlook despite global challenges, according to a CII survey. It indicates a significant increase in employment and wage growth, with 97% of firms planning to hire and 75% seeing the conditions conducive for investments till FY26.
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Laxmi Dental raises Rs 314 crore from anchor investors before its IPO, attracting top domestic and international funds. The IPO will offer shares at a price band of Rs 407-428, with proceeds used for debt repayment, capital expenditure, and investments in subsidiaries, planning to list on BSE and NSE.
Investor sentiment surged on Dalal Street as global tariff concerns eased, propelling the Sensex up by 1,578 points and making India the first major market to recover post-April 2 losses. The rally was fueled by deferred tariffs, potential trade negotiations, and a strengthening rupee, attracting foreign investors back into the Indian stock market.
Kabeer Biswas, co-founder of Dunzo, is set to lead Flipkart's quick commerce service, Minutes. Despite financial troubles and unpaid salaries at Dunzo, Biswas takes on the role as Flipkart joins intense competition in India's fast-growing quick commerce sector, alongside Blinkit, Zepto, and Swiggy Instamart.
Adani Group is officially withdrawing from a $442 million wind power project in Sri Lanka after the government attempted to renegotiate the agreement for better energy rates.
Ankura Hospitals, a Hyderabad-based healthcare provider, has secured funding of Rs 165 crore from the Asian Development Bank to support its expansion plans. The strategic investment will enhance its facilities and healthcare services across India, particularly in pediatric, maternity, and gynecology care. Ankura currently operates over 1500 beds across 14 hospitals in multiple states.
UPI continues to set records, with March seeing 1,830 crore transactions worth Rs 24.8 lakh crore, a 36% rise in volume and 25% increase in value year-on-year. The platform now processes 59 crore transactions daily, averaging Rs 79,910 crore in daily value, showcasing significant growth.
Forex spending by Indians declined 14% to $2.4 billion in Oct 2024, with travel comprising the largest share. Simultaneously, domestic electronic spending peaked during the festive season, but saw a sharp decline in Nov 2024, with significant drops in credit, debit card, and UPI transactions.
Gold prices in Delhi fell below Rs 79,000 per 10 grams due to low stockist and retailer demand. Silver experienced a significant drop as well. Analysts cite geopolitical uncertainties, interest rate cuts, and robust demand from central banks and high-net-worth individuals as factors for the previous surge. Thin trading volumes during the holiday period have kept prices range-bound.
Stock market holiday today: The Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) are closed for trading today, April 10. Regular trading sessions, operating from 9:15 a.m. to 3:30 p.m. IST, will continue on Friday, April 11.
Akasa Air pilots have raised concerns over training issues, prompting a demand for a DGCA audit after two senior officials were suspended. Pilots plan to form a union, citing ongoing resignations and bond commitments. The airline disputes training and attrition claims, having recruited 324 pilots since October 2023.