Alkem Labs CEO Dr. Vikas Gupta resigns; stock falls nearly 3%

by Hansraj Agrawal | Apr 24, 2026 | Business

Alkem Laboratories Limited disclosed on Friday that its Chief Executive Officer, Dr. Vikas Gupta, has resigned from the position to pursue new professional opportunities.

Dr. Gupta will remain in his role until June 30, 2026, to ensure a smooth handover of ongoing strategic initiatives and leadership responsibilities. No successor has been named as yet.

Markets reacted negatively to the announcement. Alkem’s shares on the NSE fell ₹154.50, or 2.80 per cent, to ₹5,366 as of afternoon trade on Friday, against a previous close of ₹5,520.50. Sell orders significantly outpaced buy orders, with 61 per cent of queued quantity on the sell side. The stock touched an intraday low of ₹5,355, though it remains above its 52-week low of ₹4,716.20 recorded in July 2025.

In his resignation letter, Dr. Gupta cited personal and long-term professional goals as reasons for his departure. He described the decision as difficult and credited his tenure with strengthening Alkem’s market position and advancing its research and development pipeline. He also acknowledged the support of the promoter family and the board.

Alkem Laboratories, a constituent of the Nifty Midcap 50 index, carries a total market capitalisation of approximately ₹64,111 crore. The stock trades at a price-to-earnings ratio of around 27.

Published on April 24, 2026

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Crude oil eases to ₹9,127/barrel in futures trade despite global market upheaval

by Hansraj Agrawal | Apr 24, 2026 | Business

Crude oil prices traded marginally lower at ₹9,127 per barrel in futures trade on Friday, even as global benchmarks moved higher amid escalating tensions in West Asia.

On the Multi Commodity Exchange, crude oil for May delivery slipped ₹48, or 0.52 per cent, to Rs 9,127 per barrel in 12,549 lots.

Analysts said domestic oil prices edged lower due to profit-booking, while global markets remained firm on supply concerns.

In international markets, Brent Crude futures for the June contract rose $2.18, or 2.07 per cent, to $107.25 per barrel, while West Texas Intermediate for the same month delivery gained $1.90, or 2 per cent, to $97.75 per barrel in New York.

“Crude oil futures moved higher as Middle East tensions intensified, with the Strait of Hormuz remaining closed and ceasefire talks showing no clear progress,” Kaveri More, Commodity Analyst – Technical Research at Choice Broking, said.

She added that fresh military activity around Tehran and continued US naval action in the region have kept supply concerns elevated, while President Donald Trump’s order to target vessels laying mines in the Strait of Hormuz has added to fears of prolonged disruption.

“With Iran showing no immediate willingness to negotiate under continued naval restrictions, the standoff continues to tighten global supply, while stronger demand for US exports and falling domestic fuel inventories are providing additional support to prices,” More said.

Published on April 24, 2026

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Sachin Tendulkar turns 53, celebrates birthday with family and fans

by Hansraj Agrawal | Apr 24, 2026 | Business

Sachin Tendulkar celebrated his 53rd birthday with family and fans at his Mumbai residence, as admirers gathered in large numbers, marking the occasion of one of cricket’s greatest legends. (a file photo)
| Photo Credit:
ANI

Master Blaster’ Sachin Tendulkar turned 53 on Friday and celebrated his birthday with his family members and fans at his Mumbai residence.

Tendulkar shared a post on X with a photo of his wife, mother and pet dog and wrote, “Perfect start to my day with Aai, Anjali and the trouble maker! What more could a man ask for?”

Earlier, a huge number of fans gathered outside his residence and he cut cake in front of them and clicked selfies and signed autographs with many of them.

A legendary career defined by unmatched records

Born on 24 April 1973, Tendulkar was the most complete batter of his time, the most prolific run-maker of all time, and arguably the biggest cricket icon the game has ever known.

He holds the record for the most centuries in both Tests and ODIs, a remarkable feat, especially considering he didn’t register his first ODI hundred until his 79th match.

With a staggering 34,357 international runs, Sachin Tendulkar stands as the most prolific batter in cricket history. Throughout his illustrious international career, he rewrote the record books time and again, setting milestones that remain unchallenged to this day.

Dominance across formats and longevity

With his unwavering patience and resilience, the ‘Master Blaster’ has 200 Test appearances to his name, the most by any player in the format.

Tendulkar, who turned 53 years old on Friday, amassed 15,921 runs, 51 centuries, and 2,058 fours — the most by any player in red-ball cricket. Revered as India’s “God of Cricket,” he also became the fastest to 15,000 Test runs, reaching the milestone in just 300 innings, a distinction he holds exclusively.

With a career that spanned over 22 years and 91 days, the 53-year-old has the longest career in ODIs. With a staggering 1,894 runs and nine centuries in 1998, Tendulkar holds the record for the most runs and centuries scored in a single calendar year in the format, a feat that still stands unrivalled.

Unmatched achievements across formats

Tendulkar holds the highest number of Player of the Match awards (76), the most runs in a career (34,357), the most fifties (264), the most nineties (28), and the most fours (4,076) across all formats.

Published on April 24, 2026

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No change in Bt cottonseed MRP for 2026-27

by Hansraj Agrawal | Apr 24, 2026 | Business

The MRP was introduced in 2016 and the need for it was felt after farmers were sold Bt cottonseeds at much higher rates.
| Photo Credit:
MURALI KUMAR K

The Union Agriculture Ministry has not changed the maximum retail price (MRP) of Bt cottonseed price for Bolgard I and II varieties for the upcoming kharif season, keeping those same as in 2025-26.

Last year, the government fixed the MRP of Bolgard II at ₹900/packet (of 450 gram), up from ₹864/packet in 2024-25. The MRP of Bolgard I remains at ₹635/packet since price control of Bt cotton seed was introduced in 2016.

In a late night gazette notification on April 23, the agriculture ministry said that after taking into consideration the recommendations made by the concerned ‘Committee’, the maximum sale price of Bacillus thuringiensis (Bt) cotton seeds for a packet (475 grams Refugia-in-Bag seeds containing minimum 5 per cent and maximum 10 per cent non-Bt Cotton) shall be same as notified on March 27, 2025 for the financial year 2026-27.

businessline had reported last month that taking a cue from past instances, there might not be an increase in the maximum retail price this year.

There was a precedence in 2019-20 when the MRP of Bolgard II was kept unchanged at ₹710/packe. Since the last year’s MRP saw a hike of over 4 per cent compared with only 1 per cent hike in 2024-25, non-increase in price may not impact the industry much. But the seed industry was said to have requested for a proportionate hike as per general inflation, sources said.

The government held stakeholders meeting on the issue of Bt cotton MRP in March as it is a legal obligation under the Cotton Seeds Price (Control) Order, 2015 to notify the MRP each year whether there is an increase or not.

The RSS affiliate Bharatiya Kisan Sangh had opposed fixing MRP for Bt cotton, saying due to the price fixation of Bt cotton seeds the non-GM cotton is getting sold at very low rates of ₹300-400/packet. It said that since the pest resistance capacity to Pink Bollworm (PBW) of Bt cotton is questionable, there was no need to declare price for Bt cotton.

The MRP was introduced in 2016 and the need for it was felt after farmers were sold Bt cottonseeds at much higher rates. Official sources said that if prices were not fixed, farmers might again be charged higher and this Order is the maximum cap and not a floor price.

Pesticide use

In a written reply in the Lok Sabha in February, Union Minister of State for Agriculture Ramnath Thakur said that about 95 per cent area under cotton cultivation is occupied by Bt cotton.

However, he also said that PBW has developed resistance against Bt protein and is becoming a major pest in all cotton-growing areas. At the same time the minister admitted that Bt cotton has continued to control one major cotton pest [American bollworm (Helicoverpa armigera)].

Sucking pests are also surging in the cotton ecosystem over the years, he said adding farmers now spend more on pesticides than during initial period of Bt-cotton introduction.

Bt-cotton adoption is shown to be a poor indicator of yield trends, he said and added that it was a strong indicator of initial reductions in pesticide use.

Published on April 24, 2026

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India approves ₹3,000 crore for Maldives under SAARC currency swap

by Hansraj Agrawal | Apr 24, 2026 | Business

India has approved withdrawal of ₹3,000 crore for the Maldives under the SAARC Currency Swap Framework, the Indian High Commission in Male said on Thursday, reaffirming New Delhi’s role as a key financial partner for its island neighbour.

The drawdown comes on the same day that Maldives settled a $400 million swap facility availed in October 2024 under the US Dollar/Euro Swap Window of the bilateral agreement between the Reserve Bank of India and the Maldives Monetary Authority.

The settlement reflects the Maldives government’s commitment to meeting its financial obligations, the Maldives Foreign Ministry said.

The ₹3,000 crore facility has been released under the INR Swap Window of the ‘Framework on Currency Swap Arrangement for SAARC Countries, 2024-2027’. The agreement was signed between the RBI and the MMA during President Mohamed Muizzu’s state visit to New Delhi in October 2024.

According to the Maldives Foreign Ministry, the facility will support the government’s broader strategy to reinforce economic stability amid the evolving situation in West Asia. The INR Swap Window under the framework includes favourable terms aimed at improving accessibility and effectiveness for the recipient country.

Since the inception of the SAARC Swap Framework in 2012, the RBI has extended aggregate swap support worth $1.1 billion to the Maldives. The Indian High Commission noted that the currency swap arrangement has become an important element in ensuring financial stability for the Maldives, particularly during periods of external economic pressure.

The Indian High Commission reiterated that the Maldives remains a vital partner under India’s ‘Neighbourhood First’ policy and Vision MAHASAGAR. “India, as a friendly neighbour, has always been the ‘first responder’ for the Maldives,” the statement said.The Maldives Foreign Ministry welcomed India’s continued support, calling the approval of the ₹3,000 crore swap facility a testament to the enduring partnership between the two countries.

It also underscored New Delhi’s commitment to regional financial cooperation through the SAARC framework.The currency swap arrangement allows the Maldives to access foreign exchange in times of liquidity stress without relying solely on commercial borrowings, helping it manage balance-of-payment pressures and maintain macroeconomic stability.

For India, the facility is part of a broader strategy to strengthen economic ties with South Asian neighbours and counterbalance growing external influence in the region. Officials in Male said the latest swap will provide immediate relief to the country’s foreign exchange reserves and support its efforts to stabilise the economy as global uncertainties persist.

With West Asia facing renewed geopolitical volatility, the timely assistance is seen as crucial for maintaining investor confidence and ensuring smooth external payments.

Published on April 24, 2026

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Crude oil futures rise on fears of prolonged US-Iran tensions

by Hansraj Agrawal | Apr 24, 2026 | Business

Crude oil futures traded higher on Friday morning as markets feared continued tensions between the US and Iran after US President Donald Trump said he is not in a hurry to end the war.

At 9.58 am on Friday, June Brent oil futures were at $105.99, up by 0.88 per cent, and June crude oil futures on WTI (West Texas Intermediate) were at $96.45, up by 0.63 per cent. May crude oil futures were trading at ₹9124 on Multi Commodity Exchange (MCX) during the initial hour of trading on Friday against the previous close of ₹9175, down by 0.56 per cent, and June futures were trading at ₹8675 against the previous close of ₹8738, down by 0.72 per cent.

Trump posted several messages on the social media platform Truth Social criticising Iran’s leaders and indicating that the US might take action in the Strait of Hormuz.

In one of the posts, he said, “I have ordered the United States Navy to shoot and kill any boat, small boats though they may be (Their naval ships are ALL, 159 of them, at the bottom of the sea!), that is putting mines in the waters of the Strait of Hormuz. There is to be no hesitation. Additionally, our mine “sweepers” are clearing the Strait right now. I am hereby ordering that activity to continue, but at a tripled up level!”

In another post, Trump said, “Iran is having a very hard time figuring out who their leader is! They just don’t know! The infighting is between the “Hardliners,” who have been losing BADLY on the battlefield, and the “Moderates,” who are not very moderate at all (but gaining respect!), is CRAZY! We have total control over the Strait of Hormuz. No ship can enter or leave without the approval of the United States Navy. It is “Sealed up Tight,” until such time as Iran is able to make a DEAL!!!”

Refuting media reports that he is anxious to end the war with Iran, he said, “…I am possibly the least pressured person ever to be in this position. I have all the time in the World, but Iran doesn’t — The clock is ticking!”

Announcing the extension of the ceasefire between Israel and Lebanon by another three weeks, he said he looks forward to host the Prime Minister of Israel, Bibi Netanyahu, and the President of Lebanon, Joseph Aoun, in the near future. “The United States is going to work with Lebanon in order to help it protect itself from Hezbollah,” he said.

May nickel futures were trading at ₹1738.10 on MCX during the initial hour of trading on Friday against the previous close of ₹1732.30, up by 0.33 per cent.

On the National Commodities and Derivatives Exchange (NCDEX), May dhaniya contracts were trading at ₹13596 in the initial hour of trading on Friday against the previous close of ₹13512, up by 0.62 per cent.

May turmeric (farmer polished) futures were trading at ₹16574 on NCDEX in the initial hour of trading on Friday against the previous close of ₹16474, up by 0.61 per cent.

Published on April 24, 2026

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