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Army receives kamikaze drones in urgent deal

The Indian Army has added a new set of kamikaze drones to its arsenal, boosting its ability to carry out precise strikes during operations. These drones were bought under an emergency procurement deal worth ₹10 crore and have been supplied by a Gujarat-based company.

Officials confirmed that hundreds of these drones have already been delivered. Known as kamikaze or loitering drones, they are designed to hover over a target area and strike by crashing into the target, exploding on impact. This makes them highly effective in hitting enemy positions with accuracy.

These drones are expected to play an important role in modern warfare, especially in sensitive and high-risk zones. They can be used for targeted attacks without putting soldiers directly in harm’s way, making operations safer and more efficient.

One of the key advantages of these drones is their ability to operate in extreme conditions. They can function in very low temperatures, even down to -35 degrees Celsius, and can also work in areas where GPS signals are weak or unavailable. This makes them particularly useful in difficult terrains such as high-altitude border regions.

The purchase was made through the emergency route, which allows the armed forces to quickly acquire critical equipment when needed. The fast delivery shows how urgently the Army wanted to strengthen its capabilities.

Another important highlight is that these drones are made in India. This supports the government’s push for self-reliance in defence production and encourages local innovation in advanced military technology.

Defence experts say that drones are becoming a key part of modern combat, as they offer precision, speed, and reduced risk to human life. The addition of these kamikaze drones is expected to give the Indian Army an edge in future operations.

Also Read: India delays refinery shutdowns to boost supply

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India delays refinery shutdowns to boost supply

Indian oil refiners have postponed scheduled maintenance shutdowns at several plants to ensure steady fuel supply, as demand remains high across the country. The decision is aimed at preventing any disruption in the availability of petrol, diesel and LPG.

State-run companies such as Indian Oil Corporation and Bharat Petroleum Corporation are among those that have delayed routine maintenance at some of their refineries. These shutdowns are usually planned in advance to maintain operational efficiency, but have now been deferred to keep production levels stable.

Officials said the move comes at a time when domestic fuel consumption is strong and global energy markets remain uncertain. Ongoing geopolitical tensions, particularly in West Asia, have raised concerns over possible disruptions in fuel supplies, increasing the need to prioritise local production.

However, not all refiners are postponing maintenance. Nayara Energy is expected to go ahead with a planned shutdown of its Vadinar refinery in April. This facility plays a key role in fuel production, and its temporary closure could have some impact, especially on LPG supply.

The government is closely monitoring the situation and is prepared to take additional steps if required, including increasing imports, to ensure that fuel supplies remain sufficient. Officials have also reassured that there is currently no shortage of petrol or diesel in the country.

India depends heavily on crude oil imports, making it sensitive to global supply disruptions. In such conditions, maintaining refinery output becomes critical to meeting domestic needs.

By delaying maintenance work, refiners are trying to avoid supply gaps and keep the market stable.

Also Read: Air India CEO Campbell Wilson steps down

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SC allows Adani’s Jaypee takeover to proceed

The Supreme Court has allowed the Adani Group’s takeover of Jaiprakash Associates Ltd (JAL) to move ahead, refusing to put the deal on hold while a legal challenge by Vedanta is still under review.

The top court declined to interfere with an order passed by the National Company Law Appellate Tribunal (NCLAT), which had cleared the way for Adani Enterprises’ resolution plan for the financially troubled company.

Vedanta had approached the Supreme Court seeking a stay on the process, arguing that its bid for Jaiprakash Associates was higher and offered better returns for lenders. The company also questioned the transparency and fairness of the bidding process.

However, the court said there was no reason to stop the deal at this stage. It noted that Vedanta’s appeal is already pending before the NCLAT and will be heard soon. The tribunal is expected to take up the matter in the coming days.

While refusing to pause the takeover, the Supreme Court asked the NCLAT to handle the case without delay. It also made it clear that any further steps in implementing the resolution plan should be subject to the tribunal’s approval.

Jaiprakash Associates is currently undergoing insolvency proceedings after defaulting on large debts. As part of the resolution process under the Insolvency and Bankruptcy Code, lenders had selected Adani’s bid over others, including Vedanta’s.

According to reports, lenders favoured Adani’s proposal due to factors such as quicker payments and more certainty in execution, even though Vedanta claimed to have made a higher offer.

The court’s decision is a positive development for the Adani Group, as it allows the acquisition process to continue without interruption. At the same time, Vedanta’s challenge remains active, and the final outcome will depend on the NCLAT’s ruling.

Also Read: Google Pixel 10a gets Japan-only blue edition

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Gold nears ₹1.50 lakh, Silver slides over ₹1,500

Gold and silver prices saw a mild decline on Tuesday, as global uncertainties and rising crude oil prices kept investors on edge. On the Multi Commodity Exchange (MCX), gold futures slipped to around ₹1,49,600 per 10 grams, while silver prices dropped more sharply, falling by over ₹1,500 to hover near ₹2.31 lakh per kilogram.

The dip in bullion prices comes at a time when geopolitical tensions in the Middle East are intensifying, particularly involving Iran. Concerns around potential disruptions in oil supply have pushed crude prices above $110 per barrel. This has raised fears of inflation, especially for countries like India that depend heavily on oil imports.

Even though gold is typically considered a safe-haven asset during uncertain times, its upward movement has been limited. One key reason is the current global interest rate environment. Higher interest rates tend to reduce the appeal of gold, as it does not offer any fixed returns compared to interest-bearing assets.

In the domestic market, gold prices remained close to the ₹1.50 lakh mark per 10 grams across major cities, while silver traded in a broad range near ₹2.31–₹2.34 lakh per kilogram. Prices showed slight variations depending on local demand and taxes.

In India, the Reserve Bank of India’s upcoming policy stance is expected to influence bullion demand and price direction.

Also Read: Sensex falls 700 points, Nifty slips below 22,800

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OPEC+ to raise May oil output despite supply risks

The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, has decided to raise its oil production quotas for May by 206,000 barrels per day (bpd), continuing a cautious increase amid ongoing market uncertainty.

The announcement came after a virtual meeting of key members including Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman. OPEC+ said the increase is aimed at supporting market stability as global oil markets face disruptions due to geopolitical tensions.

However, the cartel warned that actual output might not rise fully. Damage to energy infrastructure and the closure of the Strait of Hormuz, a vital oil shipping route, have limited the ability of some countries to export crude. Repairs to damaged facilities are expected to be expensive and take time, adding to supply risks.

The Strait of Hormuz, through which a significant portion of the world’s oil passes, has been affected by regional conflicts, reducing the practical supply even if quotas are raised.

Global oil prices have already been responding to these risks. Brent crude has been trading near $120 a barrel, pushed higher by fears of disrupted shipments and damaged infrastructure. Analysts warn that without improvements in supply flow, prices could remain elevated.

OPEC+ emphasized the importance of protecting shipping routes and energy infrastructure to keep oil flowing smoothly to international markets. While the quota increase signals readiness to produce more, the group said it will continue to monitor supply conditions and adjust output if needed.

The cartel’s monitoring committee will next meet in June, but OPEC+ remains prepared to convene sooner if market conditions change unexpectedly.

Also Read: OMCs cut payments to refiners amid price freeze

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Oil India increases Thar production by 70%

India is increasing its domestic oil production as global supply concerns grow, with a sharp rise in output from Rajasthan’s Thar Desert.

State-run Oil India Ltd has boosted crude production from its fields in the region, recording around 1,200 barrels per day. This is a significant jump of nearly 70% compared to last year, showing steady progress in tapping local oil reserves.

The move comes at a time when global oil markets are under pressure due to tensions in the Middle East. Disruptions around key shipping routes like the Strait of Hormuz have raised fears of supply shortages and higher prices. In response, India is looking to rely more on its own resources to meet energy needs.

The increase in production has been made possible by the use of better technology. Oil India is using advanced methods to extract heavy crude oil, which is usually harder to produce. These techniques have helped improve output from older and challenging fields in the desert region.

The oil extracted from the Thar Desert is transported to Gujarat, where it is processed at refineries. While the total production is still small compared to India’s overall oil demand, the increase is seen as an important step.

India depends heavily on imported crude oil, especially from the Middle East. Because of this, any global disruption can directly affect the country’s energy supply and costs. Boosting local production helps reduce some of this risk, even if only partially.

Experts say this effort is part of a larger plan to strengthen India’s energy security. By increasing domestic output, the country can better handle global uncertainties.

Even though the current production levels are not enough to replace imports, the growth shows that India is making progress in using its own resources more effectively.

Also Read: Wipro to acquire Olam’s IT unit for $375 mn

 

 

 

 

 

 

 

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Rupee rebounds to 92.85 per dollar

Rupee strengthened on April 6, 2026, rising by 33 paise to 92.85 against the US dollar in early trading. The recovery was largely driven by intervention from the Reserve Bank of India (RBI), which has stepped in to contain volatility in the foreign exchange market.

The central bank recently introduced measures aimed at curbing speculative activity. These include tighter limits on banks’ currency positions and steps to reduce excessive trading in offshore markets. Such actions are intended to stabilise the rupee after a period of sustained pressure.

Market participants noted that the rupee had been weakening due to multiple global factors. Rising crude oil prices, a strong US dollar, and continued foreign capital outflows have all contributed to the currency’s decline in recent weeks. Ongoing geopolitical tensions in the Middle East have added to investor uncertainty.

Despite the latest gains, analysts remain cautious about the rupee’s near-term outlook. India’s dependence on imported crude oil makes the currency particularly sensitive to rising energy prices. Higher import costs could widen the trade deficit and put renewed pressure on the rupee.

Attention is now focused on the RBI’s upcoming monetary policy announcement. The central bank is widely expected to keep interest rates unchanged while ensuring adequate liquidity in the system. Its stance on currency management will also be closely watched by investors.

Also Read: Gold falls to ₹1.50 lakh, Silver drops ₹2.49 lakh

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Gold falls to ₹1.50 lakh, Silver drops ₹2.49 lakh

Gold and silver prices declined on April 6, 2026, following weak global cues and a stronger US dollar, with rates falling across major Indian cities including Delhi, Mumbai, Chennai, and Kolkata.

Gold prices dropped by around ₹1,000, bringing the rate of 24K gold close to ₹1,50,920 per 10 grams. Similarly, 22K and 18K gold prices also edged lower across cities, reflecting a broad-based decline in the bullion market.

Silver prices saw a sharper fall, declining by about ₹100 to trade near ₹2,49,900 per kilogram. The drop in both gold and silver comes amid ongoing volatility in global markets and changing investor preferences.

The weakness in bullion prices is largely attributed to a stronger US dollar and rising bond yields, which tend to reduce the attractiveness of gold as an investment. Since gold does not offer interest, investors often shift towards higher-yielding assets when interest rates remain elevated.

Global economic signals have also played a role. Strong US economic data has reduced expectations of early interest rate cuts by the Federal Reserve, putting additional pressure on precious metal prices.

Despite ongoing geopolitical tensions, particularly in the Middle East, gold has not seen strong safe-haven demand. Instead, the focus has shifted toward currency strength and interest rate outlook, both of which have weighed on prices.

Across major Indian cities, gold rates remained largely aligned, with slight variations depending on local taxes and demand. The decline was visible in 24K, 22K, and 18K categories, making gold slightly more affordable for buyers compared to previous sessions.

Also Read: Sensex slides over 300 points, Nifty below 22,650

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India adds new nuclear submarine INS Aridhaman

India has added a new nuclear-powered submarine, INS Aridhaman, to its navy, boosting its defence strength. The submarine was officially commissioned in Visakhapatnam on Friday in the presence of Defence Minister Rajnath Singh.

INS Aridhaman is India’s third nuclear-powered ballistic missile submarine, after INS Arihant and INS Arighaat. It has been built in India under a secret defence programme, showing the country’s growing ability to develop advanced military technology on its own.

The submarine is bigger, quieter, and more advanced than the earlier ones. Because it runs on nuclear power, it can stay underwater for long periods without coming up, making it difficult for enemies to detect.

INS Aridhaman can carry nuclear-capable missiles like K-15 and K-4, which can strike targets from long distances. This adds to India’s nuclear triad — the ability to launch nuclear weapons from land, air, and sea.

This submarine plays an important role in India’s second-strike capability. This means that even if the country is attacked first, it can still respond with a strong counterattack. Submarines like INS Aridhaman are hard to find underwater, making them a reliable part of this defence system.

The project also highlights India’s push for self-reliance in defence manufacturing. Much of the submarine was built in the country, especially at the Ship Building Centre in Visakhapatnam.

This strengthens India’s position in the Indian Ocean region, where strategic competition is increasing. With three such submarines, India is moving closer to maintaining continuous patrols at sea for better security.

Also Read: US proposes $1.5 trillion defence budget

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US proposes $1.5 trillion defence budget

The White House has asked Congress to approve a $1.5 trillion defence budget for the US fiscal year 2027. This is one of the largest proposed increases in US military spending ever and comes while the country is involved in war with Iran and handling other global security issues.

If approved, the new budget would be more than 40% higher than last year’s defence spending. The administration says the increase is needed to support ongoing military operations, rebuild weapons stockpiles, and strengthen the country’s armed forces.

The proposed plan includes expanding the navy, producing more ammunition, and improving missile defence systems. Some of the spending would be included as “supplemental” funds that can be passed through separate congressional procedures.

To balance part of the increased defence costs, the White House plans to cut about $73 billion from non-defence programs, around 10% of domestic spending. These cuts would affect areas like education, climate initiatives, housing, and other federal services. Officials say these reductions are necessary to prioritize wartime needs.

The plan still needs Congress’s approval. Lawmakers are expected to debate the budget, make changes, and decide the final amount. Republicans generally support higher defence spending but may argue over how much, while Democrats have raised concerns about cuts to domestic programs.

Experts also warn that such a large defence budget could increase the federal debt, which is already over $39 trillion. Supporters argue, however, that the increase is important to ensure US national security and support allies during a time of global instability.

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