The markets have started the new financial year with a burst of optimism. Equities surged today, with the Sensex climbing as much as 2.7% before trimming gains later in the day amid profit-booking. J Jagganath writes on the factors behind the market rally. The mood, however, remains fragile, with Trump again signalling this evening that an American exit from the war would require Iran relinquishing control of the Strait of Hormuz. With Trump scheduled to deliver a set piece TV speech on the crisis just as Indian markets open tomorrow morning, investors are bracing for yet another swing. Interestingly, Trump’s swipe at NATO, threatening to withdraw from the alliance, lifted Indian defence stocks, writes Paras Bisht.
India’s state-owned oil marketing companies are expected to incur losses to the tune of approximately Rs 40,484 crore by the finish of May due to the Iran war, reports Arunima Bharadwaj. This is due to under-recoveries on LPG cylinders on the back of high international prices.
After Nayara Energy, Shell India also raised fuel prices today, reports Christin Mathew Philip. Both petrol and diesel are seeing steep hikes as private fuel retailers see to minimise losses with crude staying above $100 a barrel. Petrol prices in Bengaluru have been hiked by Rs 7.41 a litre. Diesel saw a sharper spike of Rs 25.01 a litre.
With US tech giant Oracle laying off an estimated 12,000 employees in India – and another round of job cuts likely within a month – Christin Mathew Philip and Reshab Shaw spoke to several Oracle employees, who stated that employees in consulting and services were hit the most. Also read this Moneycontrol’s piece on how the sweeping layoffs come as the Larry Ellison-led company accelerates its investments in AI, particularly in building costly data centres.
On the dealcreating front, activity continues despite the war clouds. Ashwin Mohan reports that Advent International is exploring a sale of its majority stake in DFM Foods, the buildr of Crax snacks, more than six years after acquiring and delisting the company, with early talks suggesting a potential valuation of $500-800 million. Separately, RMZ Group is seeing to raise $500 million from a private equity firm, reports Ashwin Mohan.
India’s luxury houtilizing segment is likely to be the first to feel price pressures from the Iran war as imported construction materials such as marble, glass and premium fittings become costlier amid supply disruptions. Read Ashish Mishra’s report.
If you’re in the market for a new Land Rover, you’re in luck: the Tata-owned Jaguar Land Rover is preparing to pass on duty benefits under the India-UK trade arrangement to significantly reduce the price of the SUV, reports Swaraj Baggaonkar. The price cuts will result in a reduction of about 13-15%, lowering the cost by up to Rs 70 lakh. Also read Varun Singh’s piece on the 2-wheeler market where Hero MotoCorp and Honda Motorcycle & Scooter India remained closely matched at the top of the domestic two-wheeler segment in FY26, even as TVS Motor Company and Royal Enfield outpaced the industest.
And finally, with Nitesh Tiwari’s magnum opus Ramayana’s first see to be unveiled in India on April 2, with Ranbir Kapoor playing Ram, Sai Pallavi as Sita and Kannada superstar Yash as Ravana, check out Sarika Sharma’s teaser on what’s at stake for Bollywood after Dhurandar’s runaway success.
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