Market News
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Stocks in news: TCS, Groww, Shriram Finance, Dixon Tech, Anand Rathi Wealth
Indian markets saw a rebound on Thursday, recovering from Wednesday's sharp sell-off. TCS reported a 5% year-on-year profit growth, and Groww affirmed its direct mutual fund strategy. Shriram Finance is raising funds to reduce borrowing costs after a rating upgrade. Maruti Suzuki plans to add service points, and Dixon Tech will expand smartphone manufacturing. Premier Energies commissioned a solar module facility, and Anand Rathi Wealth saw profit rise.
Iran to impose new service fees in Hormuz, reserves special treatment for 'friendly' nations
Iran's ambassador to China announced new service fees for ships transiting the Strait of Hormuz, despite US objections. Ambassador Abdolreza Rahmani Fazli stated these fees would cover security, supervision, and environmental concerns, with "friendly" nations receiving special consideration. This comes after Iran lifted its blockade of the vital waterway following a preliminary deal with the US to end the Middle East war, with ongoing negotiations for a permanent settlement.
Tata Motors, Castrol join hands to advance used oil circularity across the lubricant value chain
Tata Motors and Castrol India have partnered to launch a pilot program for used oil recycling in Karnataka. This initiative aims to create a traceable system for collecting and processing used engine oil from Tata Motors' service centers, addressing a critical environmental concern. The collaboration seeks to establish a scalable model for responsible oil management, contributing to a circular automotive ecosystem in India and aligning with both companies' sustainability goals.
Adani Mundra Airport launches first scheduled flight services
Adani Mundra Airport has launched its first scheduled flight service with Star Air, connecting Mundra to Mumbai and Goa. This expansion includes eight new routes, significantly boosting connectivity for businesses, trade, and tourism in the Kutch region. The airport's new operations are a key step in developing Kutch into a comprehensive logistics and business hub, adding another vital transport option for commercial activities.
Air India planes hit by ground equipment; probe under way
Strong winds and rain caused ground support equipment to hit three Air India aircraft at Delhi's Indira Gandhi International Airport. The aircraft were parked at Terminal 2. The incident occurred on Sunday. The airport operator said no weather warning was issued. Two of the damaged planes are expected to return to service soon.
Railways renews push for installing Atmospheric Water Generators
Indian Railways has renewed its push to deploy Atmospheric Water Generators (AWGs) in water-scarce areas, asking zones, production units and PSUs to identify locations where clean drinking water supply remains a challenge. AWGs generate potable water from moisture in the air and can be installed at railway stations, hospitals, staff colonies, offices, level crossings and other service areas.
Adani Ports to acquire 100% stake in Jaypee Fertilizers & Industries
JFIL is the holding company of Kanpur Fertilizers and Chemicals (KFCL) (which has certain industrial and commercial lands in Kanpur). KFCL holds ~243 acres of land in Kanpur, strategically ideal for development of a world-class logistics park and warehousing facilities aligned with the Company's logistics business. The acquisition shall further consolidate Company's inland logistics presence and service capabilities in North India. The acquisition aligns with Company's ambition to expand its MMLP network from 12 to 16 and warehousing capacity by c.4x by the year 2031.
BASF to set up global service, digital hub in Hyderabad
BASF, a major chemical company, will establish a new global service and digital hub in Hyderabad. This facility is slated to open in the second quarter of 2026. It will support BASF's worldwide operations in areas like finance and human resources. The hub aims to standardize processes and drive digital transformation.