Stories from earlier this week and beyond.
The Directorate of Enforcement is reportedly reviewing a plan to acquire a large land parcel from BSNL in Chennai, valued at around Rs 151 crore, to build a new office complex. The proposal is still under assessment, and a final decision is expected soon. The move signals the ED’s expanding footprint amid a growing national case load.
A Delhi court has sent Rahul Meena, a 19-year-old domestic help accused of raping and killing a senior IRS officer’s daughter, to four days of police custody. During court proceedings, he admitted to committing a “mistake” and the crime, prompting further custody for investigation. He also faces similar allegations in Alwar, Rajasthan.
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Gold loan fintechs are moving beyond originating loans for others and increasingly building their own loan books, signaling a shift toward deeper balance-sheet control and steadier revenue. The update also arrives alongside Infosys’ Q4 profit jump, adding a positive tech-finance backdrop as ETtech Morning Dispatch spotlights what’s changing in India’s lending and IT sectors.
Former undivided Andhra Pradesh Chief Minister Nadendla Bhaskar Rao died in Hyderabad at 90, where he was undergoing treatment for age-related ailments. He served briefly as Chief Minister in 1984 after a coup against N T Rama Rao, later holding roles as MLA, minister, and MP. Leaders across politics extended condolences.
Swiggy’s Instamart saw a dramatic jump in gold and silver demand on Akshaya Tritiya, with shoppers turning to quick commerce for auspicious purchases. Urban buyers favored smaller gold denominations, while silver transactions skewed higher. Some carts even bundled precious metals alongside everyday groceries, pointing to a fast-evolving pattern in festive shopping habits.
Indian Railways has wrapped its Mozambique locomotive order with the final batch arriving: two 3,300 HP diesel-electric units built at Banaras Locomotive Works. The completion marks a 10-locomotive export and highlights the “Make in India, Make for the World” push, positioning Indian manufacturing as increasingly capable in global rail tech. The locomotives are built for comfort and efficiency.
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Atomgrid has opened a new state-of-the-art research and development centre in Bengaluru, targeting the growing global need for chemical supply chains that are not dependent on China. The facility will focus on developing cost-efficient, innovative solutions for international customers, aligning with the broader “China-plus-one” manufacturing shift.
Nitish Kumar has stepped down from the Bihar Legislative Council and is set to enter the Rajya Sabha in early April. The move follows an unofficial pledge to step aside at 75, signaling a shift from state administration to the national arena. Political observers view it as a major gesture that could influence how succession and leadership transition unfold in Bihar and beyond.
Indian engineering exports reached a record US$122.43 billion in FY26, with the US remaining the biggest destination even amid tariffs. Shipments to West Asia and North Africa fell 51% amid rising regional tensions. While exports to the UAE and Saudi Arabia declined, Germany, the UK, and China powered growth.
Women are increasingly driving India’s investing momentum, with demat accounts opened by women jumping 129% since 2021, according to Axis Direct. The data points to a clear preference for mutual funds, steady SIP investing, and long-term goal planning, helped by rising digital adoption and a more risk-aware approach to wealth building.
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A new report warns that fossil fuels harm health across the entire chain—starting with extraction and transport, then worsening as fuels are burned. The damage can begin before birth and persist until death, with the poorest communities facing the greatest risks. It also points to threats from pipeline leaks and major oil spills beyond air pollution alone.
The India UK free trade agreement is set to eliminate or slash tariffs on a range of goods and services, opening doors for Indian exporters and potentially reducing costs for buyers in India. Labour-intensive sectors like textiles, marine products, leather, footwear, and pharmaceuticals are expected to benefit most, while imported items may see price relief through lower trade barriers.
The Supreme Court has asked the NCLAT to quickly decide on merging debt-ridden Supertech’s remaining 14 housing projects. The plan is to move stalled construction toward completion while addressing homebuyers’ long-running grievances. NCLAT will hear all stakeholders, including land agencies and farmers, following an earlier order for NBCC to finish 16 other Supertech projects.
UBS plans to hire up to 3,000 people in India, including a major new site in Hyderabad expected to add 2,000 to 3,000 roles and double the bank’s local workforce. The shift comes as UBS axes jobs in Switzerland and ramps up its technology and operations footprint, with new investment in areas like AI.
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RBI Governor Shaktikanta Das said India’s trade deficit may narrow if services exports stay strong and remittances hold up. He pointed to a solid performance in July and August this year for services exports, suggesting improving external receipts. The RBI’s view links near-term trade balance trends to sustained momentum in services and inflows from overseas workers.
The US has moved to impose tariffs on branded drug imports, aiming to spur domestic manufacturing. But the impact may be limited because key exemptions cover companies investing in US production and imports from countries with trade agreements. Generics are unaffected, leaving Indian exporters of branded medicines needing to reassess the new compliance and pricing rules.
Ahead of the Bengal assembly polls, an NIA crackdown in Mothabari, Malda, has triggered an electoral exodus. Men are reportedly fleeing villages out of fear of the agency, leaving behind a “ghost electorate.” Residents who had fought to get back on voter rolls are now prioritizing safety over voting, after a reported assault on judicial officers. Parties trade blame as the crisis unfolds.
Persistent’s Q4 net profit rose 34% to Rs 529 crore, with revenue climbing 25.1% year-on-year to Rs 4,055.9 crore. The standout was BFSI, growing 24.3% annually, alongside 11.2% growth in software, hi-tech and emerging industries. Healthcare and life sciences also rebounded, up 14.1% after earlier lagging.
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Manchester City edged Arsenal 2-1 in a Premier League title showdown as Erling Haaland scored the decisive goal, snapping his league scoring drought. The result leaves City just three points behind leaders Arsenal, though they have a game in hand. With momentum building, City’s push to overtake Arsenal intensifies in the weeks ahead.
Intel’s shares surged after the US chipmaker beat earnings expectations, offering a potential turnaround. Even as it posted a reported loss, revenue rose and management signaled further growth ahead. CEO Lip-Bu Tan tied the momentum to the AI revolution, citing strengthening demand for Intel processors, including for local network processing.
Bengaluru industrial AI startup Intellithink has raised Rs 17 crore in a round led by Pentathlon Ventures, with participation from Anicut Capital and Veltis Capital. The startup already serves 50+ enterprises including Jindal Steel, JSW Steel, Adani and Ultratech, and plans to use the funding to expand across India and the GCC market.
Four accused in the TCS Nashik sexual offence case, including Tausif Attar and Danish Shaikh, are set to be taken into police custody in a fresh matter. The group will be produced before the court on Friday, April 24. Earlier, seven people were arrested in connection with the case and have since moved for bail.
India is rapidly expanding its bioeconomy, rising from roughly $10 billion in 2014 to more than $195 billion in 2025, according to Jitendra Singh. The government’s direction points to reaching a $300-billion milestone by 2030, highlighting momentum in biotech, research, and bio-based industries as policymakers aim to scale impact.
Gold and silver ETFs surged on Wednesday, propelled by a softer US dollar and easing inflation worries as oil prices eased. Some silver ETFs climbed as much as 11%, making the move a potential accumulation window for long-term investors. With geopolitical risks and gold’s inflation-hedge appeal still in play, investors are weighing whether the rally is a fresh entry point.
Netflix co-founder Reed Hastings says he will step down as company chairman, marking a major leadership shift after nearly three decades. The move lands amid slowing growth, intensifying competition, and mounting investor pressure following a failed merger bid with Warner Bros Discovery—leaving Netflix to chart a fresh path to growth.
Alembic Pharmaceuticals has received USFDA final approval for its generic methotrexate injection, a widely used medicine for multiple cancers and inflammatory conditions. The regulator greenlit key dosage formats and confirmed therapeutic equivalence to the reference Hospira product, clearing the way for Alembic to market the injectable in the US for cancers and conditions like rheumatoid arthritis and severe psoriasis.
Vietnamese EV maker VinFast is expected to break even in 2027, Vingroup said. The company is targeting 300,000 vehicle deliveries this year, largely from domestic sales. VinFast also signaled it will not pivot back to petrol cars, reinforcing its commitment to an all-electric future even as it ramps up production and volumes.
In a ruling on a writ petition by Essar Steel Suppliers, a High Court bench held that taxpayers can file appeals to the GST Appellate Tribunal within three months. The timeline begins from whichever is later: the date the order is communicated or the date the tribunal’s president or state president enters office. The decision clarifies how appeal deadlines will be counted.
India’s Ministry of External Affairs reacted cautiously after US President Donald Trump reshared a conservative radio host’s post disparaging India and China as “hellholes.” The repost criticized US birthright citizenship, alleging it creates “anchor babies” who later sponsor relatives and enable chain migration—phrased as coming “from China, India, or some other hell-hole.”
Instagram is testing a new “Instants” app designed for more fleeting sharing. Users can send disappearing photos to friends that are viewable only once, while the shared content stays accessible for up to 24 hours. The trial hints at Instagram leaning further into time-limited privacy and quick-hit social moments.
New gaming law interpretations raise uncertainty for online companies operating in India. The government is expected to clarify that firms may continue business within Karnataka, provided they do not offer online gaming to users in the state. Until that line is made clear, compliance risk and operational ambiguity could disrupt established online gaming operations.
HUL Managing Director Rohit Jawa’s remuneration rose 3.75% to Rs 23.23 crore in FY25, reaching 146.47 times the median employee pay. The annual report also flagged an 8.46% fall in permanent employees to 6,604. Alongside this, HUL divested its Pureit water business and moved to demerge its ice cream unit amid a tougher operating environment and shifting consumer demand.
Classic Legends says it is preparing a large jump in production capacity because its current plant is nearing its limit. After earlier challenges, sales have recovered sharply, leaving the company sold out with more bookings than it can fulfill today. It is now evaluating a greenfield factory and expects output to rise significantly in the coming years.
Iran has reimposed a naval blockade on the Strait of Hormuz after a brief 24-hour opening, raising fresh fears of escalation. US President Donald Trump warned Tehran it cannot “blackmail” Washington, saying Iran is weakened. Maritime and security agencies report immediate tensions as two Indian vessels were forced to flee after coming under fire.
Volvo Car India will recalibrate prices upward by as much as Rs 1 lakh for its vehicles from May 1. The automaker attributes the move to international supply chain disruptions and currency variations. It also warns that if the economic situation fails to improve, more price hikes could be announced later.
India’s cancer crisis is worsening just as a PMJAY rule threatens to limit who can treat patients. The scheme now restricts experienced oncologists unless they hold specific degrees, potentially delaying care for many. While the government backs earlier detection and pushes down drug costs, public health demands revisiting PMJAY eligibility so vital specialists can work without unnecessary barriers.
With air quality worsening to an AQI of 312, Delhi will enforce Stage II of the Graded Response Action Plan (GRAP II) from October 22, 2024. The move tightens controls including a ban on diesel generators, tougher dust management at construction sites, and expanded public transport. Residents are urged to cut private vehicle use and switch to public transport to reduce emissions.
Western Digital used Innovation Day 2026 to lay out an AI-focused storage roadmap aimed at delivering more capacity without sacrificing reliability and performance. The company highlighted upgrades in UltraSMR and HAMR HDD technologies, targeting drive capacities up to 100TB by 2029, signaling a major push to meet rising data and workload demands.
Jofra Archer has become Rajasthan Royals’ leading wicket-taker in IPL 2026, surpassing Shane Watson after a standout spell against Lucknow Super Giants. In the match on Wednesday, the English seamer claimed three wickets, pushing him ahead of Watson in RR’s wicket-taking list and underscoring Archer’s rising impact in the tournament.
Seventeen year old left handed batter G Kamalini received her maiden India Women T20I cap against Sri Lanka as the series finale unfolded in Thiruvananthapuram. Sneh Rana returned to the playing XI, replacing a rested Renuka Singh Thakur. With Kamalini’s debut moment and Rana back in form, India look to finish the fifth T20I strongly.
Lupin has launched generic anti-diabetic tablets in the United States—dapagliflozin and metformin hydrochloride extended-release—after receiving FDA approval. The company says its product is bioequivalent to Xigduo XR, positioning the launch as a potential new option for diabetes patients seeking effective treatment in the US market.
Halder Venture has made its NSE debut through a direct listing, following corporate restructuring and an acquisition. The move boosts the company’s visibility in capital markets and is expected to support faster growth while enabling a broader push into global expansion. Investors will now watch how the listing strategy translates into momentum for the company’s next phase.
ReNew Energy plans a 6.5 GW solar manufacturing facility in Andhra Pradesh with an investment of Rs 4,500 crore. The plant will produce solar ingots and wafers and is expected to be operational within two years. The project, aligned with ReNew’s broader commitment to the state, aims to create jobs and further strengthen India’s clean energy manufacturing push.
Indian stock indices ended flat as investors reacted to mixed earnings and debut performances. Muthoot Finance, Pfizer and Prime Focus climbed on strong Q1 results, while JSW Cement, NMDC and Vodafone Idea declined. The market’s tepid close underscores how corporate updates and trading history shaped day-to-day sentiment across sectors.
A war-linked pharma cost shock is now rippling into India’s healthcare market. Vizag chemists say paracetamol and other essential generics may see hikes of 30–40% as manufacturers face surging raw material prices, especially from West Asia. Current supplies are said to be stable, but future revisions could raise retail bills. The government is working to curb volatility and maintain availability.
Rohit Pawar says Baramati residents oppose a potential “Pawar versus Pawar” election in 2029, claiming some NCP members may want it to break the Pawar family’s political legacy. The remarks have sparked speculation about a possible contest involving Jay Pawar and Yugendra Pawar, while Shrinivas Pawar dismissed such talk as premature.
Rights groups in Pakistan’s Balochistan are raising alarm after reports of enforced disappearances involving women. Families claim two Baloch women were taken during separate security operations in Khuzdar and Kech, but say they’ve received no information about their legal status or whereabouts. The cases have intensified calls for accountability and transparency amid escalating human rights concerns.
Hong Kong’s leader John Lee announced a judge-headed independent committee to investigate the cause of a deadly apartment block fire in Tai Po. The blaze spread from scaffolding across most towers housing over 4,600 residents, leaving many homeless. Forty people remain hospitalized as the inquiry aims to recommend safeguards to prevent similar tragedies.
Kuwait has enacted Decree-Law No. (52) of 2026, revising how citizenship is granted, withdrawn, and regulated. Effective immediately, the changes are designed to balance national identity with social factors, but also introduce stricter conditions for losing nationality. The Interior Minister’s powers are expanded, making revocation processes potentially broader and faster for those deemed ineligible.
India is rolling out policy moves aimed at turning the country into a global manufacturing hub. PM Gati Shakti—bringing 16 ministries together for coordinated infrastructure planning—is expected to cut logistics costs. Separately, the corporate tax rate for new manufacturing has been reduced to 15%, reinforcing incentives for companies to expand production in India.
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