Escorts Kubota to hike tractor prices from April 15; Q4 sales grew

by Hansraj Agrawal | Apr 3, 2026 | Business

Escorts Kubota has announced a price hike for its tractor range (excluding the Kubota brand), effective April 15, 2026, citing the need to adjust prices across models and markets.

In a filing to the stock exchanges, the company said the increase will vary depending on model, variant and geography. The development comes amid steady demand momentum in the domestic tractor market.

Escorts Kubota reported total tractor sales of 12,119 units in March 2026, marking a 6.6 per cent increase compared to 11,374 units sold in the same month last year. Domestic sales stood at 11,582 units, up 7.5 per cent from 10,775 units a year ago, supported by sustained rural demand and the gradual onset of rabi harvesting in select regions.

The company noted that while harvesting activity saw minor delays due to recent rainfall, the overall rabi outlook remains positive, aided by above-normal reservoir levels and improved water availability. Strengthening farm sentiment is expected to support agricultural momentum in the coming months.

However, it flagged potential risks from the evolving geopolitical situation, including possible disruptions in the availability of key fertilizers, which could affect preparedness for the upcoming kharif season.

Export performance, however, remained under pressure, with shipments declining to 537 units in March 2026 from 599 units in the year-ago period.

Meanwhile, brokerage firm Kotak Institutional Equities recently upgraded the stock to “add” from “sell” and set a price target of ₹3,375 per share, citing strong underlying drivers.

Published on April 3, 2026

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Oil prices surge while Asian share prices rise moderately

by Hansraj Agrawal | Apr 3, 2026 | Business

Oil prices continued to surge on worries of a prolonged Iran war, but the Asian markets that were open Friday rose moderately in cautious trading, while others were closed for the Good Friday holidays.

Benchmark US crude rose 11.4 per cent to $111.54 a barrel. The price of Brent crude, the international standard, jumped 7.8 per cent to $109.03 per barrel.

“A more extended conflict raises the threat to physical infrastructure, extends disruptions through the Strait of Hormuz, and will entail a longer post-war recovery period, with price impacts spilling over later into the year,” according to a report from BMI, a unit of Fitch Solutions.

The US only relies on the Persian Gulf for a fraction of the oil it imports, but oil is a commodity and prices are set in a global market.

The situation is very different in Asia. Japan, for example, relies on access to the Strait of Hormuz for much of the nation’s oil import needs and would need to rely on alternative routes. But some analysts say Japan and other nations are counting on an agreement with Iran to allow transports.

Japan’s benchmark Nikkei 225 gained 0.9 per cent in Friday morning trading to 52,938.62. South Korea’s Kospi jumped 2.1 per cent to 5,344.41. The Shanghai Composite sank 0.5 per cent to 3,899.57. Trading was closed in Hong Kong, Singapore, Australia, New Zealand, the Philippines, Indonesia and India.

Wall Street, where trading is closed Friday, finished its first winning week since the start of the Iran war, although trading started out with a decline driven by a surge in oil prices.

That came after US President Donald Trump late Wednesday vowed the US would continue to attack Iran and failed to offer a clear timetable for ending the conflict in the Middle East.

Treasury yields remained relatively steady in the bond market. The yield on the 10-year Treasury fell to 4.30 per cent from 4.32 per cent.

In currency trading, the US dollar edged up to 159.66 Japanese yen from 159.53 yen. The euro cost $1.1535, inching down from $1.1537.

Published on April 3, 2026

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Stock market holiday today for Good Friday after volatile session

by Hansraj Agrawal | Apr 3, 2026 | Business

This marks the second holiday this week, following March 31, 2026, when markets were closed for Mahavir Jayanti.

Domestic equity markets remained closed on Friday, April 3, 2026, on account of Good Friday, pausing trading activity after a highly volatile session in the previous day.

Trading on both the National Stock Exchange (NSE) and BSE is suspended for the holiday. Investors are taking stock of recent sharp swings driven by global uncertainties.

This marks the second holiday this week, following March 31, 2026, when markets were closed for Mahavir Jayanti.

On Thursday, benchmark indices witnessed significant intraday turbulence due to higher crude oil prices and rupee movements amid geopolitical tensions. They ended marginally higher. The BSE Sensex closed 185.23 points, or 0.25 per cent, higher at 73,319.55, after plunging as much as 1,588.5 points earlier in the session. Similarly, the Nifty 50 edged up 33.70 points, or 0.15 per cent, to settle at 22,713.10, recovering from a low of 22,182.55.

The rebound was largely attributed to short covering, as broader sentiment remained cautious. Sectoral trends reflected mixed participation, with IT, telecom, and realty stocks posting gains. Most other sectors—including consumer durables, pharma, healthcare, and chemicals—ended in the red.

Despite the late recovery, the broader market mood continues to be fragile. Since the escalation of tensions in West Asia, benchmark indices have declined by over 11 per cent. This highlights the impact of geopolitical risks on investor confidence.

Earlier in the week, however, markets had shown signs of resilience.

On Wednesday, the BSE Sensex surged 1,186.77 points to close at 73,134.32, while the Nifty 50 gained 348 points to 22,679.40. This marked a positive start to the new financial year, FY27.

Market participants now remain watchful of global developments, particularly geopolitical cues, which continue to dictate near-term direction. Analysts suggest that volatility is likely to persist, with markets reacting swiftly to headlines amid a lack of strong directional triggers.

Asian markets staged volatility after opening with modest gains. Meanwhile, Wall Street ended marginally mixed on Thursday after trimming earlier losses. It was unsettled by US President Donald Trump’s renewed threats of tougher action against Iran ahead of the long holiday weekend.

Published on April 3, 2026

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Trump threatens to strike Iran's bridges and electric power plants

by Hansraj Agrawal | Apr 3, 2026 | Business

US President Donald Trump
| Photo Credit:
Alex Brandon

US President Donald Trump warned late on Thursday about striking and destroying bridges and ⁠electric power plants in Iran in his latest threat to hit the country’s infrastructure.

The US military “hasn’t even started destroying what’s left in Iran. ‌Bridges next, then Electric Power Plants,” Trump wrote on social media.

His post said that Iran’s leadership “knows what ‌has to be done, and has to be done, ‌FAST!”

Trump, ⁠who has previously offered shifting timelines and objectives for ⁠the war, said in a televised speech on Wednesday that the war could escalate if Iran did not give in to Washington’s terms, with strikes on its energy and ‌oil infrastructure possible.

Dozens of international law experts in the U.S. signed an open letter released earlier on Thursday saying that US strikes on Iran may amount to war crimes.

The 1949 ‌Geneva Conventions on humanitarian conduct in war prohibit attacks on sites considered essential for civilians.

The Geneva Conventions and additional protocols say that parties involved in ⁠military conflict must distinguish between “civilian objects and military objectives”, and that attacks on civilian objects are forbidden.

“We are going to hit ‌them extremely hard over the next two to three weeks. We are going to bring them back to the Stone Ages, where they belong,” Trump said in his Wednesday address.

While he said Washington was nearing the completion of its goals in Iran, Trump did not lay out a timeline ‌to end the war.

The war began on February 28 when the US and Israel attacked Iran. Tehran responded by launching its own attacks on Israel and Gulf states ⁠with US bases. Joint US-Israeli strikes in Iran and Israeli attacks in ⁠Lebanon have killed thousands and displaced millions.

The war has also raised oil prices and shaken global markets. Trump’s ‌mixed messages thus far have done little to ease the concerns over his country’s biggest military attacks since the 2003 invasion of Iraq.

Published on April 3, 2026

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IndianOil ramps up auto LPG supply in Karnataka amid demand surge

by Hansraj Agrawal | Apr 2, 2026 | Business

Indian Oil Corporation Limited has increased its Auto LPG supply across Karnataka following a surge in demand, driven by the closure or partial shutdown of several private outlets
| Photo Credit:
NAGARA GOPAL/THE HINDU

Indian Oil Corporation Limited has scaled up its Auto LPG supplies across Karnataka in response to a surge in demand, particularly following the closure or partial shutdown of several private Auto LPG outlets in Bengaluru and other parts of the state.

IndianOil is currently meeting the fuel requirements of auto rickshaws and LPG-driven vehicles through its network of 55 Auto LPG Dispensing Stations (ALDS) spread across Karnataka. With over 300 outlets operated by private players reportedly closed or partially operational, a substantial portion of demand has shifted to PSU outlets, the company said.

“Despite the increased operational load on our infrastructure, IndianOil has made concerted efforts to ensure uninterrupted supply and efficient service delivery to LPG-powered vehicles during this challenging period,” said the company in its official statement.

Average daily sales at IndianOil’s ALDS in Karnataka have risen sharply to 59.53 metric tonnes (MT), compared to the previous three-month average of 43.4 MT, reflecting a significant increase in consumer demand.

Published on April 2, 2026

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Sundaram Clayton corrects governance lapse in Company Secretary appointment

by Hansraj Agrawal | Apr 2, 2026 | Business

Sundaram Clayton has started the process of correcting a corporate governance lapse with respect to the appointment and reporting structure of its Company Secretary, PD Dev Kishan, which was basically a legacy issue.

businessline learns that Dev Kishan, who resigned on March 27 (Friday) and was brought back on March 30 (Monday), has now been made a full-time employee of Sundaram Clayton.

Further, once a junior-level employee, his grade has now been brought appropriate to his stature as a Key Managerial Personnel. While he was earlier appointed by TVS Holding and reporting to its CFO, steps are now being taken to also bring in his reporting structure within Sundaram Clayton, said sources in the know.

Family arrangement

As for the return of the patriarch Venu Srinivasan as Executive Chairman of the company, sources note that the family arrangement in 2022 had clearly determined that governance and legal compliance across the group companies always rested with Srinivasan while his children would take care of the operational aspects of respective companies. He was already the Chairman Emeritus and Managing Director at the firm, they add.

Srinivasan endeavoured to rectify the terms of appointment of Dev Kishan and called for a second board meeting on Monday to bring him back, another source said. It was called at a short notice so as to ensure that it got done before the new Secretary’s appointment kicks in on April 6, they added. However, some questions still remain.

Sundaram Clayton’s board had earlier approved Dev Kishan’s secondment from TVS Holdings and was also paying his salary since the demerger of the Group, one of the persons in the know said. The suddenness of the move of seeking his resignation raises questions, they add.

Corporate governance experts note the tendency of large groups to have a shared pool of resources leading to complications. “Large groups tend to have pooled resources even when they have multiple listed companies. This defeats the purpose of a dedicated compliance officer for each listed company,” said Shriram Subramanian, Founder and MD, InGovern Research Services.

Published on April 2, 2026

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