Allied Blenders and Distillers Limited (ABD) on Monday said its flagship brand ICONiQ White International Grain Whisky has crossed 10 million cases in FY26, becoming what the company claims is the world’s fastest growing millionaire spirits brand for the second consecutive year.

The milestone, achieved just 43 months after the brand’s September 2022 launch, marks one of the steepest volume ramp-ups in the global spirits industry. ICONiQ White had sold 0.32 million cases in FY23 during its initial rollout in East and North India, before scaling to 2.27 million cases in FY24 and 5.7 million cases in FY25. Drinks International’s Millionaires’ Club Reports for 2024 and 2025 recognised the brand as the fastest growing millionaire spirits brand in the world for calendar years 2023 and 2024, respectively.

“The journey from zero to 10 million cases in such a short period is a landmark achievement that redefines the growth playbook in the spirits industry,” said Alok Gupta, Managing Director, ABD. “As we scale across domestic markets and 9 countries, this milestone reinforces our commitment to leading the high-margin Prestige & Above segment.”

The brand has also expanded into Canteen Stores Department (CSD) channels and is present in multiple overseas markets. On the quality front, ICONiQ White holds Gold Medals from the International Spirits Challenge, International Whisky Competition, and India Wine & Spirits Awards, all in 2024, along with a Gold Quality Award at Monde Selection 2024.

ABD, is one of India’s largest domestic spirits companies by volume. Its shares were trading at ₹386.45 on NSE on Monday afternoon, down 5.39 per cent from the previous close of ₹408.45, against an open of ₹408.65.

Published on March 23, 2026

Loading of iron ore concentrate on board of cargo ship using conveyor belt
| Photo Credit:
Ievgen Postovyk

Iron ore futures rose on Monday, supported by elevated freight rates, while other steelmaking ingredients coking coal and coke also gained as countries booked coal cargoes for their energy requirements due to a spike in global oil and gas prices.

The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) traded 0.92 per cent higher at 819 yuan ($118.57) a metric ton.

The benchmark April iron ore on the Singapore Exchange was 0.02 per cent higher at $108.25 a ton, as of 0706 GMT.

Amid the West Asia conflict, iron ore and coke held up well, supported by rising ocean freight rates and transmission from coal-coke energy substitution, a note from Shanghai Metals Market said.

However, market sentiment was cautious while BHP negotiated with state-backed iron ore buyer China Mineral Resources Group, leading to some investors taking profit, the note added.

Iron ore inventory at major Chinese ports fell 0.74 per cent week-on-week, as of March 20, data from consultancy Steelhome showed, as hot metal output picks up.

In Australia, severe tropical cyclone Narelle brushed past the country’s northeast coast, stoking fears of a disruption of supplies from the iron ore hub.

Port Hedland, a primary iron ore hub, is expected to experience strong winds this week, according to Australia’s Bureau of Meteorology.

South Africa has imposed steep import duties on structural steel imports from China after finding evidence of dumping, according to a government notice dated March 19.

Imports make up about 36 per cent of South Africa’s total steel consumption, and China accounts for 73 per cent of that, per the South African Iron and Steel Institute.

DCE coking coal and coke spiked 10.97 per cent and 6.92 per cent, respectively.

Steel benchmarks on Shanghai Futures Exchange gained. Rebar strengthened 0.9 per cent, hot-rolled coil lifted 0.97 per cent, wire rod advanced 1.86 per cent and stainless steel firmed 0.25 per cent.

Published on March 23, 2026

Shares of Innovision made a weak debut on the stock exchanges, listing at a steep discount and falling further in early trade.

The stock opened on the National Stock Exchange at ₹467.70, marking a 9.8 per cent decline from its issue price of ₹519. On the BSE Limited, the shares debuted at ₹466, down 10.2 per cent. Selling pressure intensified after listing, dragging the stock to an intraday low of ₹407.10, representing a sharp 21.5 per cent fall below the offer price.

The initial public offering of the Haryana-based manpower and toll plaza management services provider saw moderate investor interest, with the issue subscribing 3.32 times on the final day of bidding. The company had earlier extended the IPO closing date to March 17 and trimmed its price band following a muted response during the initial days of the share sale.

The public issue, which opened for subscription on March 10, was originally set to close on March 12. However, amid tepid participation, the company revised the price band to ₹494–519 per share from the earlier ₹521–548 range and extended the bidding window. Subscription levels had remained subdued during the first three days.

The IPO comprised a fresh issue of shares worth ₹255 crore along with an offer for sale of 12.38 lakh equity shares by existing shareholders. Proceeds from the fresh issue are slated to be used for debt repayment, meeting working capital requirements, and general corporate purposes.

Published on March 23, 2026