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Bloomberg Quint
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Stock Market Highlights: Nifty, Sensex Extend Gains To Third Session To Close Nearly Half Percent Up
- Nifty 50 closed 0.47%, or 108.65 points higher at 23,437.
- Sensex closed 0.40% or 309.40 points higher at 77,044.
- As benchmark indices ended with gains, 13 out of 15 indices on the NSE ended with gains.
- Nifty PSU Bank, Nifty Media, and Nifty Bank were among the top gainers.
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TechBullion
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Nyobolt Secures $30M in Funding to Meet AI Power Demand
- Nyobolt, the pioneer of high-power ultrafast charging technologies, has raised $30 million in funding to meet the increasing demand for AI power solutions.
- The funding, led by IQ Capital and Latitude, will support the advancement of Nyobolt's proprietary technology, fuel market expansion, grow its team, and solidify its position in the industry.
- Nyobolt's technology enables peak performance without compromising and uses fewer natural resources compared to traditional lithium batteries.
- The company is developing high-density power systems to address the 10x power requirements driven by AI growth in data centers, as the industry is projected to be worth $500 billion within five years.
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Bloomberg Quint
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Rupee Closes Stronger Against Dollar For Third Session Amid Global Trade Uncertainties And Softening Inflation
- The Indian rupee closed at 85.68 against the US dollar, extending its slip below the psychological level of 86 for the second session.
- The rupee appreciated by nine paise at market close on Wednesday, supported by easing inflation, a sliding dollar index, and lower oil prices.
- India's industrial production growth slowed to 2.9% in February, the weakest in six months, signaling a loss in domestic economic momentum.
- Lower crude prices bode well for the rupee, as India is a large importer.
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Bloomberg Quint
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Gold Price Today: MCX Rates Scale New Record Of Rs 95,435 Per 10 Gram; Comex Futures Also At All-Time High
- Gold prices on MCX scaled a new record of Rs 95,435 per 10 gram, with a surge of about Rs 1,579 per 10 gram.
- The June futures of gold on MCX rose 1.69% to hit the fresh record.
- Comex futures of gold also reached an all-time high of $3,334.2 per ounce.
- The surge in gold prices is driven by growing trade war concerns and market anxiety.
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Bloomberg Quint
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Swaraj Engines Q4 Results: Profit Rises 29%, Announces Dividend
- Swaraj Engines reported a 29% rise in profit for the fourth quarter.
- The company's net profit increased to Rs 45.4 crore, while the revenue rose to Rs 454 crore.
- Swaraj Engines declared a dividend of Rs 104.5 per share for the financial year ended March 31, 2025.
- Shares of Swaraj Engines surged more than 11% on the back of positive Q4 results and dividend announcement.
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Bloomberg Quint
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Who Is BR Gavai? All You Need To Know About Next Chief Justice Of India
- Justice Bhushan Ramkrishna Gavai is set to become the next Chief Justice of India.
- He will take the oath as the 52nd Chief Justice of India on May 14, 2025.
- Justice Gavai will serve as Chief Justice of India for approximately six months before retiring on Nov. 23, 2025.
- Born on November 24, 1960, Justice Gavai joined the Bar in 1985 and has had a distinguished legal career.
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SiliconCanals
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Milan-based BizAway expands with acquisition of Barcelona’s Aervio to strengthen corporate travel
- Milan-based BizAway has acquired Barcelona's Aervio, a travel management company focused on AI solutions for business travel.
- Through the acquisition, BizAway aims to enhance its innovation process, expand its technological tools, and develop its own platform.
- Aervio's AI-based tools for travel planning, which use Natural Language Processing (NLP), will contribute to BizAway's service capabilities.
- BizAway, founded in 2015, has grown to over 300 employees and completed over 500,000 bookings, experiencing significant growth with over €50M in total funding.
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Bloomberg Quint
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ICAI CA Admit Card 2025 To Be Released Soon; How To Download Inter Final May Exam Hall Tickets
- ICAI CA admit cards for Intermediate and Final exams to be released soon.
- Admit cards can be downloaded from the official ICAI portal.
- Candidates must carry a printed copy of the admit card to the exam centre.
- Important details on the admit card include candidate's name, exam date, centre address, and exam guidelines.
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Bloomberg Quint
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Solvent Extractors' Association Requests Government To Lift Export Ban On De-Oiled Rice Bran
- Solvent Extractors' Association has requested the government to lift the ban on exporting de-oiled rice bran.
- The ban, imposed in July 2023 and extended multiple times, is impacting the rice milling industry and rice bran oil production.
- The association argues that lifting the ban would allow efficient stock clearance, maintain vegetable oil production, and increase employment and foreign exchange earnings.
- India's position as a reliable supplier is being threatened as competitors step in due to the ban.
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Bloomberg Quint
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Gensol Modus Operandi Explained — How Round-Tripping Fooled Investors
- Gensol Engineering’s fund diversion has been exposed by SEBI, tracing Rs 262 crore from IREDA and PFC loans to personal expenses and circular transactions.
- Luxury purchases, such as a luxury flat, an ultra-expensive golf set, and large fund transfers to family members, were part of Gensol's round-tripping scheme.
- SEBI has barred Gensol Engineering and its promoters from accessing the market as a result of the fund diversion.
- The market regulator exposed the modus operandi used by Gensol Engineering to deceive investors.
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Bloomberg Quint
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GQG Partners, LIC Raise Stake In Adani Group Firms Despite Market Turbulence
- The Rajiv Jain-led GQG Partners increased their stake in four Adani Group companies.
- The increase in stake was seen in a quarter marked by turbulent market conditions and global headwinds.
- GQG's largest bet remains in Adani Energy Solutions with their stake at 5.23%, followed by Adani Power at 5.1%.
- Life Insurance Corporation of India (LIC) also increased its stake in the Adani Group companies.
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Bloomberg Quint
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16th Finance Commission Begins Andhra Pradesh Visit To Discuss Revenue Sharing
- The 16th Finance Commission, led by Chairman Arvind Panagariya, has started its four-day visit to Andhra Pradesh to discuss revenue sharing.
- Chief Minister N Chandrababu Naidu is scheduled to present to the commission at the secretariat in Amaravati.
- After the Chief Minister's presentation, the commission will meet with representatives of political parties in the state.
- The visit will conclude on April 18, and the commission is expected to submit its recommendations by October 31, 2025.
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Bloomberg Quint
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CJI Sanjiv Khanna Recommends Appointment Of Justice Bhushan Ramkrishna Gavai As Next CJI
- Chief Justice of India Sanjiv Khanna has recommended the appointment of Justice Bhushan Ramkrishna Gavai as the next CJI.
- Justice Gavai is scheduled to take oath as the 52nd CJI on May 14.
- CJI Khanna is set to retire on May 13.
- This is a developing story.
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Bloomberg Quint
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ArcelorMittal Nippon Steel Eyes Major Green Steel Pivot For Products By FY27
- ArcelorMittal Nippon Steel aims to make 70% of its steel production green by FY27.
- The Green Steel Taxonomy categorizes steel based on emissions intensity.
- The company plans for 35-40% of its total production to be automotive focused.
- The premium pricing for green steel will be driven by the value customers derive from it.
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Bloomberg Quint
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Travel And Tourism In India Poised For Growth: WTTC
- The travel and tourism sector in India is set to experience strong growth, with projections indicating a 7% increase over the next decade, according to Julia Simpson, President and CEO of the World Travel & Tourism Council.
- Simpson highlighted that the contribution of travel and tourism to India's economy is expected to align with the global average of 10% in the near future.
- The WTTC President emphasised the sector's potential, noting that it was valued at approximately $230 billion.
- The outlook for India's travel and tourism sector is promising, with significant opportunities for growth and development in the coming years.
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