JSW Steel, POSCO sign pact for 6 MTPA steel plant in Odisha

JSW Steel, POSCO sign pact for 6 MTPA steel plant in Odisha


Leveraging on POSCO’s technological expertise, the joint venture’s product portfolio will complement that of JSW and provide new product opportunities in India
| Photo Credit:
FRANCIS MASCARENHAS

JSW Steel and South Korea’s POSCO have signed a joint venture agreement to set up a 6 mtpa greenfield steel plant in Odisha.

In 2024, both companies signed MoU and an agreement was signed last year. This has now been fortified with the signing of the joint venture agreement, said JSW Steel in a statement on Monday.

The proposed integrated steel project of 6 mtpa will comprise steelmaking, hot rolling, and cold rolling/coating processes.

The land for the project has already been secured. Once commissioned by 2031, the plant will be capable of manufacturing high-grade flat steel products for automotive and other applications.

Leveraging on POSCO’s technological expertise, the joint venture’s product portfolio will complement that of JSW and provide new product opportunities in India.

The project gives POSCO access to India’s high growth market. The joint venture aims to leverage the integration with POSCO’s 1.8 mtpa downstream unit in Pune to drive significant synergies.

The completion of the transaction is subject to receipt of regulatory approvals.

Jayant Acharya, Joint Managing Director & CEO, JSW Steep said the partnership will ensure alignment of the company’s vision and commitment, while leveraging POSCO’s technological expertise and JSW’s strengths in project execution and cost leadership.

Lee Hee-geun, President, POSCO said the joint venture will make a meaningful contribution not only to future value creation but also to the industrial development and economic growth of both nations.

Published on April 20, 2026



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24 साल के लड़के ने 4 महीने में खड़ी की 1 करोड़ की कंपनी,कंटेंट ने बना दिया स्टार्टअप स्टार

24 साल के लड़के ने 4 महीने में खड़ी की 1 करोड़ की कंपनी,कंटेंट ने बना दिया स्टार्टअप स्टार


Startup Story: आज के दौर में जहां लोग नौकरी को तवज्जो देते हैं और उसे सिक्योर करने में लगे रहेत हैं. वहीं एक 24 साल के लड़के ने इसके उलट नौकरी को छोड़कर स्टार्टअप करने का रिस्क लिया. इस लड़के ने ना केवल ये रिस्क लिया बल्कि अपनी अलग पहचान भी बनाई. जिसके बारे में इस लड़के ने सोशल मीडिया पर वीडियो शेयर कर बताया.

वीडियो शेयर कर बताया स्ट्रगल

दरअसल सोशल नेटवर्किंग साइट इंस्टाग्राम पर एक वीडियो खूब वायरल हो रहा है. जिसमें एक 24साल के लड़के ने बताया कि कैसे उसने अच्छी खासी सैलरी वाली नौकरी छोड़कर बिजनेस करने का फैसला किया. महज 4 महीने में ही इस लड़के ने करीब 1 करोड़ रुपये का सफल कारोबार खड़ा कर सबको हैरान कर दिया है. इस वीडियो को शेयर कर लड़के ने कैप्शन में लिखा, ‘मैंने अपनी नौकरी छोड़ी और सपना बनाया, 2026 में मैंने भारत का बेस्ट इंस्टाग्राम ऑटोमेशन प्लेटफॉर्म बनाया है क्रिएटर्स के लिए.’

डिजिटल क्रिटिव्स की परेशानी की हल

इस वीडियो में उज्जवल ने बताया है कि उन्होंने और उनके को-फाउंडर ने एक आसान लक्ष्य के साथ अपना ये सफर शुरू किया, डिजिटल क्रिएटिव्स की उस वास्तविक समस्या का समाधान किया जिसका वो अक्सर सामना करते हैं. उन्होंने कंटेंट क्रिएटर्स के सामने आने वाली चुनौतियों की बारीकी से जांच परख के साथ इसकी शुरुआत की.

क्या बोले उज्जवल

उज्जवल वीडियो में कहते नजर आ रहे हैं कि, क्रिएटर्स लगातार हाई क्वलिटी वाला कंटेंट बना रहे थे, लेकिन उनमें से कई डायरेक्ट मैसेज और ऑडियंस एंगेजमेंट की बढ़ती तादाद को मैनेज करने के लिए संघर्ष कर रहे थे. उन्होंने कहा, ‘क्रिएटर्स बेहतरीन कंटेंट पोस्ट कर रहे थे, लेकिन डायरेक्ट मैसेज को हैंडल न कर पाने के कारण उनकी ग्रोथ धीमी हो रही थी, और यहीं से हमें एहसास हुआ कि एक बड़ा बाजार मौजूद है’. उन्होंने इस समस्या को समझा और क्रिएटर ऑटोमेशन के काम में घुस गए.

हालांकि उज्जवल ने ये भी बताया कि उनकी शुरुआत आसान नहीं थी. शुरुआती दिनों में उन्हें कई चुनौतियों का सामना करना पड़ा, जैसे फंड की कमी, सही रणनीति बनाना और ग्राहकों तक पहुंच बनाना. यहां तक कि तन्मय भट्ट ने भी उनका आईडिया रिजेक्ट कर दिया था. लेकिन उन्होंने हार नहीं मानी और लगातार अपने काम पर फोकस बनाए रखा. महज 4 महीने में ही उन्होंने 1 करोड़ का कारोबार खड़ा कर लिया है.





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RBI partially rolls back its April 1 fx market measures

RBI partially rolls back its April 1 fx market measures


ADs also could not undertake any foreign exchange derivative contract involving INR with their related parties.
| Photo Credit:
FRANCIS MASCARENHAS

The Reserve Bank of India (RBI) on Monday decided to partially roll back its measures that prevented Authorised Dealers (ADs) from offering foreign exchange derivative contract involving the Indian Rupee. This comes in the wake of hedging becoming difficult and Dollar liquidity tightening.

RBI said ADs cannot undertake any foreign exchange derivative contract involving INR (Indian Rupee) with their related parties except for cancellation and rollover of existing contracts; and transactions undertaken with non-related non-resident users on a back-to-back basis.

The April 1 RBI directive, which was aimed at curbing speculation and arbitrage in foreign exchange market, disallowed ADs to offer non-deliverable derivative contracts involving INR to resident or non-resident users. Further, they could not permit a user to rebook any foreign exchange derivative contract involving INR, whether deliverable or non-deliverable, which is cancelled.

ADs also could not undertake any foreign exchange derivative contract involving INR with their related parties.

Dipti Deodhar, CEO, Mecklai Financial Services, observed that the original action was intended to curb the speculation and effectively break the momentum of Rupee depreciation on account of speculative positions.

She said this measure had unintentional consequences like hedging becoming difficult, liquidity drying up and at some psychological level it led to panic. “So, as a solution, RBI allowed NDF (non-deliverable forward) access again (a key liquidity restoration step) and removed rebooking restriction (restores flexibility),” opined Deodhar.

However it has still not allowed ADs entering into fx derivative (involving INR) with related parties except for original contracts being cancelled and rebooked – this will ensure no round tripping or artificial volume creation . “While this move is not particularly rupee positive or something that can cause rupee appreciation, but it certainly stabilises the rupee outlook with improved liquidity and reduced offshore dominance. We can read this as – extreme downside risk being managed more smoothly now,” she said.

Speculative activity

V Rama Chandra Reddy, Head – Treasury, Karur Vysya Bank, noted that while the earlier RBI measures were aimed at curbing speculative activity, their combined impact tightened liquidity and affected normal market functioning.

“The rollback helps restore flexibility, improve price discovery and bring stability back to the onshore FX market. For the Rupee, the impact is largely neutral as it supports liquidity without encouraging excessive speculation,” he said.

Abhishek Goenka, Founder and CEO, IFA Global, said the earlier restriction on cancellation and rebooking against same underlying exposure had created difficulties for those with genuine reasons — for instance a delay in payment/receipt. “It would have also been operationally difficult for banks to track and establish whether the same underlying was being used to rebook. They would have had to rely on undertaking from clients,” he said. Goenka observed that was a view in the market that such moves could be perceived as regressive.

Meanwhile, the Rupee closed weaker above the 93 to the Dollar, logging its biggest fall in a week, amid continued uncertainty on resolution of the West Asia war.

The weakness in the Indian currency was accentuated by FPIs continued exit from the Indian equity markets and rising crude oil prices.

The Rupee closed at 93.1275 per US Dollar, down about 20 paise against the previous close of 92.93.

Published on April 20, 2026



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Kothari Industrial Corporation shares now listed on the NSE as well

Kothari Industrial Corporation shares now listed on the NSE as well


File picture: Jinnah Rafiq Ahmed, Executive Chairman, Kothari Industrial Corporation Ltd
| Photo Credit:
BIJOY GHOSH

The shares of Chennai-based Kothari Industrial Corporation Ltd (KICL) have begun trading on the National Stock Exchange (NSE) from Monday. The designated trading symbol allotted by NSE to KICL is “KOTIC”.

Kothari Industrial Corporation Ltd has been permitted to trade on the Capital Market Segment of the NSE under the “Permitted to Trade” category,” said a release from the company

Kothari Industrial Corporation focuses on segments such as fertilisers, footwear and drones.

A couple of years ago, KICL, a DC Kothari group company, came under a new management headed by Rafiq Ahmed and was relisted on the Bombay Stock Exchange. The company’s shares are listed on NSE also now, says a release.

The company’s share price on the NSE closed at ₹174.80, up by ₹3 (1.75 per cent).

Published on April 20, 2026



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India doubles wheat export quota to 5 million tonnes

India doubles wheat export quota to 5 million tonnes


Although the 2022 export ban remains in place, India continues to fulfil shipments to friendly nations based on diplomatic requests.

Amid growing farmer dissatisfaction over low mandi prices, the government has decided to permit the export of an additional 2.5 million tonnes (mt) of wheat, doubling the total allowed volume to 5 mt. While a formal notification from the Directorate General of Foreign Trade (DGFT) is pending, the move follows approval from a high-powered inter-ministerial committee.

Although the 2022 export ban remains in place, India continues to fulfil shipments to friendly nations based on diplomatic requests.

“The Government of India has approved the export of an additional 2.5 mt of wheat, reinforcing its commitment to ensuring remunerative returns for farmers while maintaining stability in domestic markets. The decision follows a comprehensive review of current production, stock availability, and price trends,” the Food Ministry said in a statement Monday.

Wheat acreage during the Rabi 2026 season has increased to approximately 334.17 lakh hectares, compared to 328.04 lakh hectares last year. This rise reflects strong farmer confidence in wheat cultivation, supported by assured minimum support price (MSP) and robust procurement mechanisms, and indicates the likelihood of another strong harvest, it said.

Lower than last year

Although the government has increased wheat MSP by 6.6 per cent to ₹2,585/quintal during the 2025-26 crop year (July-June) against ₹2,425/quintal in 2024-25, the prevailing rates in mandis in Uttar Pradesh, Madhya Pradesh, Gujarat and Rajasthan are lower than the benchmark price as well as from year-ago levels. But, farmers in only Punjab and Haryana are able to receive MSP for their wheat due to public procurement through a strong mandi infrastructure.

Rahul Chauhan of I-Grain consultancy said that the sentiment in India’s wheat market, which had remained under pressure for a long time, is now gradually turning positive. “A clearer trend of quality-based pricing is likely to emerge in the near future,” he said in a note referring to crop damage due to unseasonal rains and hailstorms.

The quality of the produce has been affected, with grains turning discoloured and black in many areas, he said, adding that arrivals in mandis have started to decline. Besides, increased moisture content has altered the supply dynamics in the market. The price gap between good and lower quality wheat is expected to widen, he said. “There are indications that in the long term, prices of good-quality wheat may increase by ₹100-150 per quintal. But, in the short term, prices may remain under pressure due to ongoing harvesting across the country and the likelihood of higher arrivals in the coming weeks,” he said.

Shipping process

The DGFT, in a notification on February 24, had said that the export policy of wheat (HS Codes 10011900 and 10019910) continues to remain ‘Prohibited’, but export of 2.5 mt is permitted. Detailed modalities for the purpose was notified through a separate public notice on the same day. Exporters need to to apply for permits online during a window of first 10 days of each month and need to complete the physical shipments within six months of receiving the permits.

The DGFT had also allowed export of 1 mt of wheat products to help Indian diaspora able to buy atta, maida and sooji of domestic brands which they easily identify. First on January 16, the notification issued for 0.5 mt of wheat products export and later on February 25 additional 0.5 mt was allowed. However, any exporter seeking export permit has to apply for minimum 2,500 tonne of wheat products and 10,000 tonnes of wheat.

“The export of wheat flour and related products under HS Code 1101 – wheat or meslin flour (atta), maida, samolina (ravi/shirgi), wholemeal atta and resultant atta – shall continue to remain ‘Prohibited’. However, export to the extent of 5 lt of wheat flour and related products under HS Code 1101, over and above the existing policy conditions, is allowed,” the DGFT said.

The Ministry of Consumer Affairs, Food & Public Distribution in November 2025 had forwarded an industry demand to the DGFT for allowing export of wheat products such as atta, sooji and maida, suggesting it could be start with a cap of 10 lt.

Published on April 20, 2026



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IEX shares tumble 8% after CERC draft on market coupling raises concerns

IEX shares tumble 8% after CERC draft on market coupling raises concerns


Shares of Indian Energy Exchange (IEX) fell sharply on Monday, declining nearly 8 per cent after a regulatory development unsettled investor sentiment. The stock settled at ₹124.99 on the NSE, hitting an intraday low of ₹124.20 compared with the previous close of ₹135.81.

IEX shares

The decline followed the release of a draft proposal by the Central Electricity Regulatory Commission (CERC) on electricity price discovery, which introduces market coupling norms that could significantly alter the dynamics of power exchanges in India.

Balaji Rao Mudili, Research Analyst at Bonanza, said the stock reaction reflects concerns over the erosion of IEX’s competitive advantage.

“IEX is down following the draft notification released by CERC on market coupling norms. Under the draft, Grid India will act as the Market Coupling Operator, aggregating bids from all exchanges and determining a uniform market clearing price. The exchanges however will continue to collect bids but will no longer set prices,” he noted.

Mudili highlighted that IEX currently holds around 84 per cent market share in the power exchange segment, making its discovered price effectively the national benchmark—a key strength that is now under threat.

“In layman terms, IEX effectively becomes a bid collection front end rather than a price discovering exchange, thereby diluting its major moat,” he explained.

The new norms could also level the playing field for smaller exchanges such as Power Exchange India Limited and Hindustan Power Exchange, allowing them to attract volumes without needing to build their own liquidity pools. For IEX, this could translate into slower volume growth as it loses its role as the primary price setter.

IEX derives about 78 per cent of its revenue from per-unit transaction fees, making it highly sensitive to any loss in market share.

Mudili added that the transition will begin with the Day Ahead Market (DAM), IEX’s largest revenue segment, before extending to other trading formats such as the Real-Time Market (RTM).

“To sustain volume amid rising competition, IEX may slash trading margin, putting further pressure on earnings. FY26 electricity volume had increased 17 per cent YoY to 141BU on IEX,” said Elara Securities while recommending Accumulate with a TP of ₹145, assuming a trading margin of 3 paise/unit and a market share of 70 per cent in FY28E.

“IEX trades at a P/E of around 24, a premium built on its dominance. If that dominance fades, multiples could compress,” add Mudili.

While India’s power market continues to expand, offering growth opportunities, the analyst cautioned that the narrative of IEX as a near-monopoly player is effectively over. “The market is still in the middle of repricing what IEX is worth without that moat,” he further said.

Published on April 20, 2026



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