Author: Sreelatha M

Categories
Beyond

Centre lifts fuel sale restrictions from July 1 nationwide

The Centre has lifted restrictions on the sale of petrol and diesel from July 1, restoring normal fuel marketing operations across the country after reviewing domestic supplies and global oil market conditions. The temporary curbs, introduced earlier this month as a precautionary measure, will no longer apply to fuel retailers.

The restrictions were imposed after concerns over possible disruptions in global crude oil supplies following tensions in the Middle East. During the period, fuel retailers were required to prioritise domestic availability and avoid actions that could affect supply across the country.

With the situation stabilising and fuel supplies remaining adequate, the government has withdrawn the curbs. From Tuesday, both public sector and private fuel retailers will be free to operate under normal market conditions.

The move is expected to particularly benefit private fuel retailers, who had faced operational restrictions under the temporary measures. Companies can now resume regular fuel sales and procurement without the additional conditions imposed during the emergency period.

Officials said the decision was taken after reviewing India’s fuel inventory and supply chain. The government found that domestic stocks remained comfortable and there was no immediate risk of shortages despite global uncertainties.

India, the world’s third-largest importer of crude oil, had closely monitored developments in the Gulf region, especially around the Strait of Hormuz, through which a significant share of global oil shipments passes. Although geopolitical tensions had briefly raised concerns over energy security, supplies remained largely unaffected.

The government said it will continue to monitor international oil markets and take necessary steps if the global situation changes. Officials stressed that India’s energy security remains a priority and adequate fuel stocks are available to meet domestic demand.

Also Read: HDFC Bank names Rajiv Kumar part-time chairman

Categories
Leaders

HDFC Bank names Rajiv Kumar part-time chairman

HDFC Bank has appointed former Finance Secretary Rajiv Kumar as its Part-Time Chairman, marking a significant leadership change at India’s largest private sector lender. His appointment, approved by the bank’s board, will take effect after receiving the necessary approvals from the Reserve Bank of India (RBI) and shareholders.

Rajiv Kumar succeeds Atanu Chakraborty, whose tenure as Part-Time Chairman ends after completing the maximum term permitted under banking regulations. Kumar has been appointed for a three-year term, subject to regulatory clearance.

A seasoned bureaucrat with decades of experience in public finance and economic policymaking, Kumar has held several key positions in the Government of India. He served as Finance Secretary and was also the country’s Chief Election Commissioner (CEC). During his career, he was closely associated with major financial sector reforms and represented India on several international financial institutions.

HDFC Bank said Kumar’s wide-ranging experience in governance, financial regulation and public policy will strengthen the bank’s board as it continues to expand its operations following its merger with Housing Development Finance Corporation (HDFC).

The appointment comes at a crucial time for the bank, which has been focused on integrating its businesses after the landmark merger and accelerating growth across retail and corporate banking. Industry observers believe Kumar’s policy expertise and understanding of the financial system will help the bank navigate a rapidly evolving banking landscape.

Rajiv Kumar has also served on the boards of several important financial institutions and regulatory bodies during his career. His experience in economic administration and institutional governance is expected to add strategic depth to HDFC Bank’s decision-making process.

Also Read: Adani sells 49% Vizhinjam port stake to MSC

Categories
Corporate

Adani sells 49% Vizhinjam port stake to MSC

Kerala’s Vizhinjam International Seaport is set to get a major global partner, with Adani Ports and Special Economic Zone (APSEZ) agreeing to sell a 49% stake in the project to Terminal Investment Limited (TiL), the port-operating arm of MSC Mediterranean Shipping Company. Valued at around $1.4 billion (about ₹12,000 crore), the deal is expected to accelerate the port’s growth as a global transshipment hub while bringing one of the world’s largest shipping companies into the project.

Adani Ports will continue to hold a 51% stake, retaining management control of the strategically important deep-water port. The partnership is expected to strengthen Vizhinjam’s role in global shipping while attracting fresh investment for its next phase of development.

Located close to one of the world’s busiest east-west shipping routes, Vizhinjam is India’s first deep-water transshipment port. Its natural depth allows some of the world’s largest container vessels to dock without extensive dredging, making it a strategically important asset for the country’s maritime sector.

The collaboration combines Adani Ports’ infrastructure expertise with MSC’s vast global shipping network. The companies expect the partnership to increase container traffic, improve operational efficiency and attract more international shipping services to the Kerala port.

The fresh investment will support the expansion of terminals, cargo-handling facilities and supporting infrastructure. Industry experts believe this will help India reduce its dependence on foreign ports such as Colombo, Singapore and Dubai for transshipment services while strengthening the country’s logistics network.

The deal is also expected to benefit Kerala by creating jobs, boosting trade and increasing economic activity around the port. As cargo volumes grow, Vizhinjam is likely to emerge as a key gateway for international maritime trade in the region.

The transaction will take effect after receiving the necessary regulatory approvals. Industry observers believe the partnership will not only strengthen Vizhinjam’s position on global shipping routes but also enhance India’s maritime infrastructure, helping the country handle a larger share of international container traffic through its own ports.

Also Read: Rupee falls 7 paise to 94.58 against dollar

Categories
Beyond

Rupee falls 7 paise to 94.58 against dollar

The Indian rupee slipped 7 paise to 94.58 against the US dollar in early trade on Tuesday, extending its losing streak as demand for the American currency remained strong and investors stayed cautious over global developments.

Forex traders said the rupee came under pressure mainly due to month-end dollar buying by importers and corporates, who typically purchase the greenback to meet overseas payment commitments. The steady demand for dollars outweighed support from stable crude oil prices.

The domestic currency had settled at 94.51 against the dollar in the previous session after giving up its early gains. Tuesday’s decline reflects the cautious mood in the foreign exchange market, with participants closely tracking global economic signals and geopolitical developments.

A stronger US dollar also added to the pressure. Expectations that the US Federal Reserve may keep interest rates elevated for longer have supported the greenback, reducing the appeal of emerging market currencies, including the rupee.

Traders noted that concerns over geopolitical tensions in the Middle East continue to keep currency markets on edge. Although crude oil prices have remained relatively stable, any disruption in global energy supplies could increase India’s import bill and weigh further on the rupee.

Also Read: Sensex rises over 200 points, Nifty climbs above 24,000

Categories
Corporate

Astral Limited shares slides 6% after demerger move

Astral Ltd shares fell more than 6% on Monday after the company announced plans to demerge its chemicals business into a separate listed entity. The market reacted cautiously to the proposal, making Astral one of the day’s biggest losers despite analysts highlighting potential long-term benefits.

The proposed demerger aims to separate Astral’s adhesives and chemicals operations from its core pipes and plumbing business. The company said the move will allow both businesses to pursue independent growth strategies, improve operational focus and unlock shareholder value.

Management believes the two businesses have evolved into sizeable operations with distinct markets, customers and growth opportunities. By operating as separate entities, each business will be able to make faster strategic decisions, allocate capital more efficiently and attract investors focused on their respective sectors.

Despite the strategic rationale, investors booked profits after the announcement, pushing the stock lower during Monday’s trading session. Market participants appeared concerned about the near-term uncertainty surrounding the demerger process, regulatory approvals and the timeline for implementation.

Brokerages, however, maintained a largely positive outlook. Several analysts said the correction could offer a buying opportunity, noting that demergers often create long-term value by enabling businesses to operate independently. They added that Astral’s strong position in the pipes and plumbing segment remains unchanged.

The demerger proposal is subject to approvals from shareholders, regulators and the National Company Law Tribunal. Until the process is completed, both businesses will continue operating under the existing structure.

At the same time, the core building materials business is expected to benefit from a sharper strategic focus and continued demand from India’s infrastructure and housing sectors.

Also Read: Swiggy, Zepto move court against gig workers law

Categories
1 Minute-Read

Swiggy, Zepto move court against gig workers law

Food delivery and quick-commerce platforms, including Swiggy and Zepto, have approached the Karnataka High Court challenging the Karnataka Platform-based Gig Workers (Social Security and Welfare) Act, 2025.

The companies argue that the law imposes an excessive financial and compliance burden while raising constitutional concerns over certain provisions. They have sought a stay on the Act’s implementation, claiming it could impact business operations.

The legislation aims to provide social security benefits, including welfare measures, for gig workers. The High Court is expected to hear the petitions in the coming days.

Categories
Corporate

Sensex falls 370 points, Nifty slips below 23,950

The stock market ended lower on Monday as profit booking in banking and information technology stocks pulled benchmark indices into the red. The BSE Sensex dropped 372 points to close at 79,379, while the NSE Nifty50 fell 100 points to settle at 23,944, slipping below the crucial 23,950 mark.

Heavy selling in banking stocks weighed on investor sentiment, with Kotak Mahindra Bank emerging among the top losers after announcing that CEO Ashok Vaswani would not seek another term. Persistent Systems also declined sharply after its proposed acquisition of Germany-based Nagarro raised concerns over the deal’s valuation. Other notable laggards included Axis Bank, HCLTech and Bajaj Finance.

On the positive side, Trent, Tata Steel, JSW Steel, Hindalco Industries and UltraTech Cement were among the day’s top gainers, supported by buying in metal and consumer-focused stocks. Gains in these counters, however, were insufficient to offset losses in heavyweight banking and IT shares.

Monday’s decline was largely driven by profit booking following the market’s recent rally. Investors also remained cautious ahead of key global economic data and continued to track foreign institutional investor (FII) activity.

Sector-wise, banking, financial services and information technology indices led the losses, while metals and select infrastructure stocks witnessed buying interest. Broader markets showed mixed performance, with mid-cap and small-cap stocks outperforming benchmark indices in several pockets.

The rupee traded within a narrow range against the US dollar, while crude oil prices remained largely stable, offering little direction to the market.

Also Read: BIS warns AI boom faces rising global financial risks

Categories
Beyond

BIS warns AI boom faces rising global financial risks

The global boom in artificial intelligence could lose momentum if rising debt, persistent inflation and excessive investment continue to build financial risks, the Bank for International Settlements (BIS) has warned in its latest annual report.

Often described as the “central bank for central banks”, the BIS said the rapid surge in AI-related spending has created strong optimism among investors. However, it cautioned that expectations may have moved ahead of economic reality, increasing the risk of financial instability if companies fail to generate the returns investors anticipate.

The report noted that major technology companies are investing hundreds of billions of dollars in artificial intelligence infrastructure, including data centres, chips and computing power. While these investments could transform productivity and drive long-term economic growth, the BIS warned that excessive spending financed through debt could leave companies and financial markets vulnerable if demand slows or profits disappoint.

The BIS compared the current AI investment wave with previous periods of market exuberance, including the dot-com boom, saying history shows that breakthrough technologies can attract more capital than markets can sustainably absorb. If investor confidence weakens, technology stocks could face sharp corrections with wider consequences for the global financial system.

Apart from AI, the institution also highlighted rising public debt, stubborn inflation and vulnerabilities in financial markets as key threats to the global economy. It urged governments and central banks to maintain sound fiscal policies, keep inflation under control and strengthen oversight of non-bank financial institutions to reduce systemic risks.

Despite its caution, the BIS stressed that artificial intelligence remains one of the most promising technological advances of recent decades. It said AI has the potential to improve productivity, boost innovation and support long-term economic growth if investments are made responsibly and supported by sustainable business models.

Also Read: Kotak Bank CEO Ashok Vaswani announces exit

Categories
Leaders

Kotak Bank CEO Ashok Vaswani announces exit

Kotak Mahindra Bank shares came under pressure on Monday after Managing Director and Chief Executive Officer Ashok Vaswani said he will not seek reappointment when his current term ends on December 31, 2026. The announcement raised concerns about the bank’s leadership transition, with the stock falling more than 2–3% during the trading session.

The bank said Vaswani has decided to step down for personal reasons and that the board has already begun the process of identifying his successor. The appointment of a new CEO will be completed in line with regulatory requirements, allowing for a smooth transition before his term ends.

Vaswani took charge as Kotak Mahindra Bank’s CEO in January 2024, succeeding founder Uday Kotak after decades of founder-led leadership. During his tenure, he focused on strengthening technology, expanding lending and accelerating growth after regulatory challenges linked to the bank’s digital systems.

While the announcement led to an immediate drop in the share price, several brokerages maintained a positive long-term view on the bank. Analysts said the market reaction was driven mainly by uncertainty around the leadership change rather than concerns about the bank’s financial health. They noted that Kotak Mahindra Bank continues to have a strong balance sheet, healthy capital position and steady earnings growth.

Brokerage firms also believe the bank has enough time to identify a capable successor, reducing the risk of disruption to its long-term strategy. Some analysts suggested that an experienced internal candidate could ensure continuity in operations and reassure investors.

The leadership change comes at a time when India’s private banking sector is seeing strong credit demand and rising competition. Investors will now closely watch the succession process and the bank’s future strategic direction.

For now, market sentiment is expected to remain cautious, although many believe the bank’s fundamentals remain intact and that the CEO transition is unlikely to alter its long-term growth path.

Also Read: PFC, REC boards approve merger through share swap

Categories
Leaders

Candere signs Smriti Mandhana as ambassador

Candere, the lifestyle jewellery brand from Kalyan Jewellers, has appointed Indian cricketer Smriti Mandhana as its new brand ambassador, marking a significant step in the company’s strategy to strengthen its appeal among young and style-conscious consumers.

The partnership comes as Candere looks to expand its presence in India’s organised jewellery market by connecting with a new generation of buyers who increasingly prefer contemporary, lightweight and everyday jewellery. The company believes Mandhana’s confident personality, modern outlook and growing popularity make her an ideal face for the brand.

Announcing the association, Candere said the Indian vice-captain represents qualities such as confidence, authenticity and individuality, values that closely match the brand’s identity. Through the collaboration, the company hopes to inspire customers to see jewellery as a part of everyday fashion rather than something reserved only for weddings and festivals.

Mandhana, one of India’s most celebrated women cricketers, said she was delighted to join hands with Candere. She noted that jewellery today is an expression of personal style and individuality, and appreciated the brand’s focus on modern designs that suit different occasions and lifestyles.

As part of the partnership, Mandhana will appear in Candere’s advertising campaigns across digital platforms, social media and other promotional channels. The campaigns are expected to showcase jewellery collections designed for daily wear, gifting and special occasions while highlighting the brand’s blend of elegance and contemporary fashion.

The collaboration also reflects a wider trend in the jewellery industry, where brands are increasingly partnering with young celebrities to attract digitally connected consumers. With online jewellery shopping becoming more popular, companies are focusing on personalities who resonate with millennials and Gen Z buyers.

Backed by Kalyan Jewellers, Candere has steadily expanded its online presence while growing its network of physical stores across India. The brand offers a wide range of gold, diamond and gemstone jewellery designed to suit modern lifestyles.

Also Read: Netflix mandates unique emails for profiles