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Karnataka to remove liquor price control

The government of Karnataka will remove its control over liquor prices from April 2026 under a new excise policy. Chief Minister Siddaramaiah announced that alcohol companies will be allowed to decide the prices of their products instead of the government fixing them.

The state will introduce a new tax system based on the alcohol content in beverages and reduce price categories from 16 to eight to simplify the process. Officials say the reform will make the system more transparent and encourage competition among brands. Karnataka, with cities like Bengaluru, is one of India’s largest liquor markets.

 

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Ceramic units in Gujarat’s Morbi at risk as gas supply disrupted

The ceramic industry in Morbi, Gujarat, faces a potential shutdown as gas supplies dwindle due to the ongoing conflict in the Middle East.

Tile manufacturers rely on propane and natural gas to fire kilns and run production, but disruptions in shipments through the Strait of Hormuz have slowed deliveries.

Several factories are already operating at reduced capacity or have temporarily halted production. With hundreds of units and thousands of workers affected, the supply shortage poses a serious economic risk to Morbi’s ceramic cluster if normal gas flows do not resume soon.

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Adani Total Gas raises industrial gas to ₹119

Adani Total Gas Ltd (ATGL) has raised industrial gas prices to ₹119 per standard cubic metre, up from around ₹40, for usage beyond daily contracted limits.

The hike comes after LNG supply disruptions from the Middle East due to geopolitical tensions, including shipping issues through the Strait of Hormuz. Household piped gas and CNG prices remain unchanged, as they rely mainly on domestic supply.

The move aims to manage tight industrial gas availability and rising costs amid ongoing global energy disruptions.

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Reliance shares jump 3% on oil rally

Shares of Reliance Industries rose nearly 3% as global crude oil prices increased following tensions in West Asia. Higher oil prices are expected to improve refining margins for the company, which runs one of the world’s largest refining complexes at Jamnagar in Gujarat.

It is cited vy experts that stronger fuel prices, especially for diesel and other refined products, could support the company’s oil-to-chemicals business. Supply concerns linked to the Iran conflict have pushed crude prices higher, improving sentiment for refinery companies. As a result, investors showed increased interest in Reliance stock, expecting stronger earnings if oil prices remain elevated.

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Air India expands flights to Toronto, Frankfurt, Paris

Air India has decided to operate additional flights to Toronto, Frankfurt, and Paris after a sharp rise in passenger demand amid the ongoing crisis in West Asia.

The airline will run three extra flights between Delhi and Toronto from March 5 to March 11. It will also operate three additional flights to Frankfurt and one extra flight to Paris between March 7 and March 10.

Air India said the decision was taken to help passengers affected by disruptions in international travel routes due to the conflict in the region. The airline added that it will continue to review the situation and may adjust flight schedules depending on demand.

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HDFC bank to charge for some UPI ATM cash withdrawals

HDFC Bank will start charging customers for certain cash withdrawals from ATMs using UPI from 1 April 2026.

Until now, UPI ATM withdrawals were generally free, but the bank said fees will apply in specific situations, especially for withdrawals beyond free limits set for savings accounts.

The move affects customers who frequently take out cash using UPI at ATMs. HDFC said this step aligns with industry practices as banks adjust services and costs. Customers are advised to check their account’s free withdrawal limits to avoid unexpected charges.

 

 

 

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IMFA acquires Tata Steel’s Ferro‑Chrome plant for ₹707 cr

Indian Metals & Ferro Alloys Ltd (IMFA) has completed the acquisition of Tata Steel’s ferro‑chrome plant in Kalinganagar, Odisha for ₹707.26 crore, including GST and working capital adjustments.

The plant spans 115 acres and currently has four furnaces producing 100,000 tonnes annually, with a fifth under construction expected to increase capacity to 150,000 tonnes per year within a year.

Funded entirely from IMFA’s internal accruals, the deal strengthens the company’s position as a leading ferro‑chrome producer in India, expanding production and improving operational efficiency in the ferro‑alloys sector.

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Deepinder Goyal raises $54mn for brain‑monitoring wearable

Weeks after stepping down from Zomato, Deepinder Goyal launched Temple, raising $54 million at a $190 million valuation. The startup develops a wearable tracking cerebral blood flow for athletes. Investors include Steadview, InfoEdge, and angel backers like Vijay Shekhar Sharma and Kunal Shah.

Temple plans major hires in neuroscience, embedded systems, and brain-computer interfaces. The device aims to provide metrics beyond existing wearables, entering a competitive market with Whoop, Oura, and Garmin.

This reflects Goyal’s shift toward high-risk, health-tech ventures, following previous investments in longevity and performance startups.

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India’s GDP growth at 7.8% in Oct–Dec quarter

India’s economy grew 7.8% in the October–December 2025–26 quarter, according to revised GDP data using 2022–23 as the base year. The update incorporates broader data sources and improved methodology, giving a clearer picture of economic activity.

The National Statistics Office also raised the full-year growth forecast to 7.6%, reflecting resilience in consumption, manufacturing, and services despite global uncertainties. Analysts say the figures highlight continued domestic demand and industrial output strength.

India remains one of the fastest-growing major economies, with the new data expected to improve the reliability of future economic reporting.

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Promoter cuts 14% stake in Vishal Mega Mart

Shares of Vishal Mega Mart were in focus after its promoter sold about 14% stake through block deals worth roughly ₹7,600 crore. The shares were offloaded at around ₹117 apiece, reducing promoter holding significantly.

Among the key buyers were the Government of Singapore and HDFC Mutual Fund, along with other institutional investors.

Following the transaction, the stock declined during trading. The deal marks one of the largest stake sales since the retailer’s market debut and signals growing institutional interest in the company.