Business

04

Mar

By The Press Editor

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Business

Rupee slumps to all-time low of 92.18 against US dollar amid worries over widening war

Mumbai: The Indian rupee slumped 69 paise to an all-time low of 92.18 against the US dollar in early trade on Wednesday. The sharp fall comes amid a sharp spike in crude oil prices amid geopolitical tensions following the escalation of the US–Iran conflict, which weighed on investor sentiment. According to forex traders, the domestic currency is under severe pressure due to a sharp spike in crude oil prices, with Brent Crude crossing the USD 82 per barrel level in futures trade in the wake of the Iran crisis, which dented investor sentiments. "USD/INR continues to move in a strong…

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04

Mar

By The Press Editor

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Business

Market Opening Bell: Sensex tanks 1,700 points, Nifty below 24,400 as oil surges amid US-Iran war

Mumbai: Indian equity benchmark indices, the Sensex and Nifty, tanked on Tuesday, March 4, 2026, amid weak global cues on escalating US-Iran tensions and a surge in oil prices. While the 30-share BSE Sensex fell 1,710.03 points to start the session at 78,528.82, the Nifty shed 476.9 points to open at 24,388.80. In the last trading session, the Sensex closed at 80,238.85 and the Nifty 50 at 24,865.70. Similarly, the broader indices traded in the red in the opening session. While the BSE Midcap Select Index dropped 283.39 points, or 1.72 per cent, in the early trading session, the BSE…

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03

Mar

By The Press Editor

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Business

Reserve Bank of India shares update on Rs 2,000 banknotes, check full details

New Delhi: The Reserve Bank of India (RBI) has shared some updates regarding Rs 2,000 notes, which were introduced after the demonetisation of Rs 500 and Rs 1000 notes. According to the central bank, 98.44 per cent of the Rs 2,000 banknotes in circulation have been returned. It must be noted that the RBI announced the withdrawal of Rs 2,000 denomination banknotes from circulation on May 19, 2023 and asked people to exchange or deposit these notes in the banks.  Total value declined to Rs 5,551 crore The total value of Rs 2,000 banknotes in circulation has declined to Rs…

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03

Mar

By The Press Editor

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Business

US-Iran-Israel war: India holds 25 days of crude reserves, no fuel price hike planned, say sources

New Delhi: Amid rising tensions in the Middle East, government sources on Tuesday said that India has 25 days of crude oil and refined oil stocks. Sources also said there are no immediate plans to increase petrol and diesel prices despite global oil prices rising sharply due to geopolitical tensions. Brent crude price has reached near USD 80 per barrel -  roughly 10 per cent more since the Iran crisis - and is expected to rise further as the Strait of Hormuz, one of the world’s most critical oil transit chokepoints, has been shut by Iran. For India, higher prices means…

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03

Mar

By The Press Editor

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Business

Why the Strait of Hormuz matters: How global oil supply could be hit and how vulnerable India is

New Delhi: Oil shipments through the crucial energy corridor of the Strait of Hormuz have dropped sharply amid the Israel–Iran conflict. The disruption at this key international waterway, through which nearly 20 per cent of the world’s oil supply passes, has reportedly led to around 700 tankers being stranded on either side of the narrow strait. Shipowners are avoiding the volatile region, raising concerns over crude oil and liquefied petroleum gas (LPG) supplies for India and other major importers. According to reports, global oil flows through the strait have declined by nearly 86 per cent, with only a limited number…

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03

Mar

By The Press Editor

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Business

India, with strong economy, has emerged as beacon of hope for world: PM Narendra Modi

New Delhi: Prime Minister Narendra Modi on Tuesday described manufacturing, logistics and MSMEs as key pillars of the Indian economy. Emphasising that strengthening these sectors would accelerate growth and enhance India’s global competitiveness, PM Modi said that the world is looking for trusted and resilient manufacturing partners. "India has the opportunity to become a key player in this respect,” he said while addressing the second webinar on the Union Budget. The Prime Minister also urged industry leaders to step up investment in research and development and focus strongly on quality. “The quality of our products should be of global standards.…

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03

Mar

By The Press Editor

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Business

This smallcap stock to be in focus as company announces major merger, check full details here

Mumbai: Shares of Shanti Educational Initiatives Ltd, a small-cap company with a market capitalisation of Rs 3,203.10 crore, will be in focus when markets open on Wednesday. The company announced a major merger in its latest exchange filing after market hours on Monday. In its filing, the company said that the boards of GREW Energy Private Limited and Shanti Educational Initiatives Limited have approved a proposed scheme of arrangement. Under the first phase, Shanti Educational will transfer its business to Shanti Learning Initiatives Private Limited (SLIPL) through a slump sale. In exchange, SLIPL will issue its shares to Shanti Educational.…

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03

Mar

By The Press Editor

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Business

Will the Aqua Line extension drive a price uptick in key Noida sectors? Here’s what experts say

Noida: In a significant push to urban mobility in NCR, the Union Cabinet has cleared an 11.56-km extension of the Noida Metro’s Aqua Line from Sector 142 to Botanical Garden, paving the way to plug a critical connectivity gap between Noida and Delhi, long flagged by daily commuters and industry. A total of eight new elevated stations will be constructed. These are - Botanical Garden, Noida Sector-44, Noida office, Noida Sector-97, Noida Sector-105, Noida Sector-108, Noida Sector-93 and Panchsheel Balak Inter College. Key triple-interchange hub Once operational, Botanical Garden will emerge as a key triple-interchange hub, seamlessly linking the Aqua…

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03

Mar

By The Press Editor

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Business

Is stock market open today? NSE, BSE to remain closed for Holi 2026 on this date – Check full list of holidays

Mumbai: Indian benchmark indices, the BSE and National Stock Exchange (NSE), will remain closed for three days this month. These closings will be apart from weekly offs. However, investors want to know when the stock market will remain closed for Holi celebrations. While India will celebrate Holi on March 4 this year, the benchmark indices will remain open on Wednesday.  When is the stock market closed for Holi? Indian equity markets, BSE Limited and National Stock Exchange of India, will remain closed on March 3, 2026. According to information available on the official website of the National Stock Exchange (NSE),…

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03

Mar

By The Press Editor

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Business

Bank Holiday: When will banks be closed for Holi in your city? Check RBI calendar

New Delhi: The festival of colours is here. As per Drik Panchang, Holi will be celebrated on March 4, 2026. But several cities will also have banks closed on March 3. If you are planning to complete any important bank-related work on Tuesday, you should check whether the bank is open or closed in your city. Actually, there is confusion among the people about whether the bank will be closed on March 3 or March 4 due to Holi. Please note that on the occasion of Holi, banks will remain closed in many states today, while in some cities, banks…

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