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Bloomberg Quint
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Adani Ports Begins Operations At Colombo West International Terminal
- Adani Ports and Special Economic Zone Ltd. has announced the commencement of operations at the Colombo West International Terminal, situated at the Port of Colombo.
- The terminal is a major public-private partnership managed by a team including India's largest port operator APSEZ, Sri Lanka’s John Keells Holdings, and the Sri Lanka Ports Authority.
- The $800 million project features a 1,400-metre quay and a depth of 20-metres, aiming to handle about 3.2 million containers per year.
- The terminal is colombo's first fully automated deep-water terminal and aims to improve cargo handling, ship turnaround time, and strengthen the port’s position as a major hub in South Asia.
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Bloomberg Quint
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Tata Power Receives Approval For 100-MW Battery Energy Storage System Project
- Tata Power received approval for a 100-MW battery energy storage system project.
- The system will be installed across ten strategically located sites in Mumbai.
- It will enable a swift recovery of power supply to critical infrastructure in case of grid disturbances.
- The project aims to improve peak demand efficiency and strengthen the city's power infrastructure.
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Eu-Startups
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Different Dog raises €11 million for its “hand-cooked, human-grade” dog food
- Different Dog, a fresh dog food subscription service, has raised €11.7 million to expand its capacity and grow its customer base.
- The funding will help the company move to a new facility in Telford and invest in marketing to meet the growing demand for healthier dog food.
- Different Dog offers a personalized subscription service that creates tailored meal plans using fresh, hand-cooked, human-grade ingredients.
- With pet ownership on the rise, the company aims to tap into the increasing demand for premium nutrition options for pets.
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Bloomberg Quint
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Government To Increase Excise Duty By Rs 2 Each On Petrol And Diesel; Retail Prices Unaffected
- The Indian government has increased the excise duty on petrol and diesel by Rs 2 each.
- Despite the hike in excise duty, retail prices of petrol and diesel will remain unchanged.
- Oil marketing companies may absorb the excise duty hike, affecting their retail fuel sales margins by Rs 2 per litre.
- This move is expected to impact BPCL, HPCL, and Indian Oil, as their marketing margins will be reduced.
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Bloomberg Quint
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IndiGo Flight Makes Emergency Landing At Chhatrapati Sambhajinagar After Woman Dies Onboard
- An IndiGo Airlines flight made an emergency landing at the airport in Chhatrapati Sambhajinagar after an 89-year-old woman died onboard.
- The Mumbai-Varanasi flight made an emergency landing at the Chikalthana Airport on Sunday night, he said.
- The flight landed at the Chikalthana Airport due to a medical emergency around 10 pm.
- The woman's body was sent to the Government Medical College and Hospital in Chhatrapati Sambhjinagar.
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Bloomberg Quint
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Calcutta High Court Rules On Consumer Forum's Authority In Execution Proceedings
- The Calcutta High Court has held that a consumer forum cannot issue a warrant of arrest in an execution proceeding and may only order detention in civil prison.
- Justice Suvra Ghosh quashed the warrant of arrest passed against the petitioner, holding that it is outside the scope of the provision laid down in the Consumer Protection Act.
- The case arose out of an agreement for loan between a finance company and the loanee for the purchase of a tractor in 2013.
- The loanee failed to pay Rs 25,716 to the company for which it took possession of the vehicle.
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Bloomberg Quint
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Indian National Faces Theft Charges For Incident At Singapore's Changi Airport
- An Indian national was charged with stealing over SGD 1,800 worth of items from five shops at Singapore's Changi Airport.
- The alleged crime spree involved theft of stationery, chocolates, jewellery, t-shirts, watches, and a handbag.
- The accused is expected to plead guilty on April 25.
- The police detained the accused and prevented him from leaving Singapore.
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Bloomberg Quint
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IL&FS Group Discharges Rs 45,281 Crore To Creditors As Of March 2025
- The debt-ridden IL&FS Group has discharged Rs 45,281 crore to its creditors as of March 2025, completing the resolution of 197 entities.
- This amount is 18.9% higher than the previous resolved debt of Rs 38,082 crore, representing progress in debt resolution.
- Of the 302 entities, 105 remain to be resolved, with 57 entities still requiring moratorium protection.
- The new board expects an overall recovery of approximately Rs 61,000 crores, which is 61% of the debt as of October 2018.
- IL&FS has discharged debt through monetization, termination of assets, and interim distributions, totaling Rs 45,281 crore.
- NCLT had directed IL&FS to complete the resolution of the remaining firms by March 31, 2025, extending the moratorium accordingly.
- The IL&FS group continues to resolve debts through asset monetization and settling payments with concessioning authorities.
- Key holding companies within IL&FS availed a significant portion of the debt, with Rs 48,000 crore utilized by four main entities.
- The crisis in IL&FS led to NCLT superseding the existing board in October 2018, initiating a restructuring process.
- The IL&FS Group's efforts aim to conclude resolutions for the remaining entities under moratorium, facilitating debt recovery.
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Bloomberg Quint
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Metropolis Healthcare To Acquire DAPIC For Over Rs 35 Crore
- Metropolis Healthcare is set to acquire Ahujas' Pathology and Imaging Centre (DAPIC) for over Rs 35 crore.
- Metropolis' wholly-owned subsidiary will acquire 100% ownership of DAPIC in an all-cash deal.
- DAPIC operates two laboratories accredited by NABL and NABH, and has 11 patient service centers and nine hospital-based centers.
- The acquisition aims to accelerate Metropolis Healthcare's expansion in Uttar Pradesh and Uttarakhand.
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Bloomberg Quint
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US Stocks: Bear Market Looms As S&P 500 Futures Slide Before Wall Street Opens
- The S&P 500 futures slipped by 4.09% to 4,901.25, indicating a possible bear market as the US markets open.
- The futures of Dow Jones Industrial Average were down 1.83% at 37,824, almost 16% lower from its recent peak.
- The tech-heavy Nasdaq 100 futures slipped further by 3.69% to 16,892.25, down by around 24% from its recent high.
- US markets have been sliding since the announcement of reciprocal tariffs by US President Donald Trump.
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SiliconCanals
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London-based Sagittal AI raises €1.9M to expand human-centred AI platform for software development
- London-based Sagittal AI has raised $2.2M in a pre-seed funding round.
- Sagittal AI develops AI tools that align with human workflows, specifically in software development.
- The company's main product, Neo, connects to existing tools and works throughout the entire development process, allowing teams to delegate tasks without changing their workflow.
- Sagittal AI plans to use the funds to expand Neo and support the full product development lifecycle.
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Bloomberg Quint
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Tata Steel Q4 Update: India Deliveries Grow, Crude Steel Production Falls
- Tata Steel's India deliveries grew 4.4% year-on-year to 19.7 MT, leveraging India steel demand growth.
- Crude steel production stood at 21.8 million tons in FY25, with a slight dip in the Q4 quarter-on-quarter to 5.51 million tonnes.
- Revenues from Tata Steel Aashiyana rose 60% YoY to Rs 3,550 crore, aided by enhanced reach and strategic initiatives.
- Tata Steel UK's delivery volumes in the January-March quarter were adversely impacted by subdued demand dynamics.
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Startup Story
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Asha Ventures Secures $10 Million from British International Investment
- Asha Ventures has raised $10 million in funding from British International Investment (BII).
- The fund aims to reach its target of $91 million for its debut fund, Asha Ventures Fund I.
- Asha Ventures invests in high-growth Indian businesses that combine social impact with commercial viability.
- The firm focuses on financial inclusion, job creation, and climate resilience.
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Bloomberg Quint
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India’s GDP Growth Could Be Impacted By Up To 30 Basis Points: Nomura’s Sonal Varma On US Tariffs
- India’s GDP growth is expected to be around 6% in the financial year 2026 due to the broader impact of US President Donald Trump’s tariff policy, according to Sonal Varma, chief economist at Nomura.
- Although India's direct exposure to US tariffs is limited, the broader effects could be severe.
- The direct impact of US tariffs on India is likely to cause a 20-30 basis point impact on GDP growth.
- Varma also predicted a slowdown in the US, Europe, and Asia due to uncertainties over President Trump’s tariff policy.
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Bloomberg Quint
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Market Crash: How To Ensure Financial Stability During This Turmoil?
- Domestic benchmark equity indices Sensex and Nifty suffered a sharp setback on Monday, plunging over 5% in early trade.
- The sell-off followed a significant drop in US futures, triggered by United States President Donald Trump’s announcement of tariffs.
- During a market crash, it's important not to panic and stay the course to avoid poor financial outcomes.
- Other strategies to ensure financial stability during a market crash include reviewing your emergency fund, reassessing your budget and expenses, diversifying your investments, and considering the market crash as an opportunity to buy discounted stocks.
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