Nasscom appoints Srikanth Velamakann as new Chairman

by Hansraj Agrawal | Apr 23, 2026 | Business

Information technology (IT) industry body, Nasscom on Thursday said it has appointed Srikanth Velamakanni, Co-Founder and Group Chief Executive of Fractal, as its Chairperson, succeeding Sindhu Gangadharan, Managing Director, SAP Labs India, who completes a distinguished term as Chairperson in April.

Alongside this, the Nasscom Executive Council has also elected Kishor Patil, Co- Founder, CEO and Managing Director at KPIT, as the new Vice Chairperson.

Kishor Patil

Velamakanni assumes the role after serving as Vice-Chairperson of Nasscom and as an Executive Council member for over six years. As co-founder of one of India’s earliest and most prominent AI-first enterprises, he brings deep expertise in enterprise AI, analytics, responsible technology, and global go-to-market to the role, at a defining moment for the industry.

Working closely with Rajesh Nambiar, President, Nasscom, and the Executive Council, he will steer the industry’s agenda across a set of interconnected priorities that reflect where the global technology landscape is headed, the industry body said.

“AI progress is unlocking unprecedented opportunities for enterprises, large and small, to reimagine their businesses. India will play a pivotal role in this AI-led transformation. Over the coming year, our focus will be to drive the next cycle of AI-powered growth across services and products and prepare our workforce to lead with AI,” Velamakanni said.

Nasscom’s focus will be on accelerating services transformation with AI while simultaneously catalysing product innovation and Agentic AI to position India as a leading source of autonomous, multi-agent systems and vertical AI products for global markets.

Equally central will be strengthening IP-led DeepTech innovation across AI infrastructure, semiconductors, Frontier and advanced engineering; scaling talent and skilling initiatives to prepare the workforce for emerging Human + AI roles; and embedding Responsible AI and governance through industry-led standards that cements India as a trusted hub for responsible AI, Nasscom said.

A distinctly accomplished thought leader, Velamakanni has been a prominent voice of India’s AI efforts and an outspoken proponent of the need for sovereign AI technologies. He has been an active participant in government advisory roles regarding AI policy and national security.

An alumnus of IIT-Delhi and IIM-Ahmedabad, he has been widely recognised for his contributions to entrepreneurship. In addition to his leadership at Nasscom and Fractal, he is a founder and trustee member of Plaksha University in Punjab.

“Srikanth brings a rare combination of entrepreneurial drive and AI depth to this role. Under his leadership, and with the collective strength of our Executive Council, we will continue to position the tech industry as the world’s most trusted AI-led transformation partner,” Rajesh Nambiar, President Nasscom, said.

Published on April 23, 2026

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China, India keep net inflows in gold ETFs positive so far this year

by Hansraj Agrawal | Apr 23, 2026 | Business

China and India have primarily ensured that net investments in physically-backed gold exchange-traded funds (ETFs) are positive, though 68 per cent of investors have exited as of April 17, data from the World Gold Council (WGC) showed.

China has been the top source of investments in gold ETFs, making up $9.04 billion, followed by India at $3.26 billion. At the sixth-largest net investor, Japan chipped in with $1.26 billion.

For the week ending April 17, global inflows into gold EFTs were $63.96 billion. Outflows were to the tune of $43.73 billion, leaving net investments at $20.23 billion.

Net inflows in Asia were $14.87 billion, while in North America and Europe, they were $2.06 billion and $2.94 billion, respectively.

Inflows up for 2nd week

Investments in the gold EFTs continued for a second consecutive week as of April 17. In March, investors exited, leading to negative net inflows, on fears that the Iran war could lead to inflation and a strong dollar. Besides, funds switched from gold to crude oil.

In contrast to the overall trend this year, Asians exited from gold ETFs, while North Americans and Europeans chose to invest. Inflows in Asia were negative to the tune of $1.5 million. Inflows in North America were $2.12 billion and in Europe, $0.96 billion.

Country-wise, investors in the US invested $2.17 billion in the week ended April 17, while investments in the UK were $0.61 billion. In Switzerland, inflows totalled $0.22 billion. In Germany and France, the investments were $0.069 and $0.053, respectively. In China, net investments were a negative $0.01 billion.

Prices down 15% from peak

Gold prices have dropped over 15 per cent from the record high of $5,608 an ounce on January 29. Since rising to the new peak, the yellow metal has declined and has been volatile around the $4,700 levels.

Currently, gold is ruling at $4,712 an ounce in the spot market. On COMEX, gold June futures were quoted at $4.729.51 an ounce. Gold has gained nine per cent year-to-date.

Published on April 23, 2026

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M2P Fintech appoints Vivek Seshadri as Group Chief Financial Officer

by Hansraj Agrawal | Apr 23, 2026 | Business

Chennai-based M2P Fintech has announced the appointment of Vivek Seshadri as Group Chief Financial Officer (CFO).

Seshadri previously served as the Chief Financial Officer for Hitachi Payment Services.

In this role, Seshadri will lead the company’s global finance organization and play a central role in shaping M2P’s next phase of growth, strengthening capital discipline, and preparing the company for a potential public market journey in the coming years, M2P Fintech said in a media release.

“M2P has built one of the most exciting financial infrastructure platforms emerging from India. The opportunity to help shape the next phase of the company’s growth—while building a strong, scalable financial foundation for global expansion—is incredibly compelling,“ Seshadri, said.

Published on April 23, 2026

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Why gold, silver prices slipped today — What’s driving the fall in bullion?

by Hansraj Agrawal | Apr 23, 2026 | Business

Gold and silver fell in early Thurday trade, with spot gold down 0.23 per cent to $4,721.50 per ounce and silver declining 2.39 per cent to $76.03 per ounce, as a partial easing of US-Iran tensions reduced immediate safe-haven premiums even as crude oil held firm above $90.

Gaurav Garg, research analyst at Lemonn Markets, noted the mixed picture: “…the recent volatility in these precious metals can be attributed to the US extending a ceasefire with Iran, which has eased some geopolitical tensions and allowed for a temporary cooling in crude oil prices…”

On MCX, gold opened gap-down around ₹1,51,500–₹1,52,500, while silver held within ₹2,42,000–₹2,45,000. Both carry a mild bearish trend score of -1 per Axis Direct’s morning report, with stochastics bearish on both MCX and Comex. The Kotak Neo technical report pegged MCX Gold (Jun) bias as sideways to bearish, with a range of ₹1,50,430–₹1,52,490.

Crude oil remained the dominant market driver. MCX crude was trading near ₹8,950, with WTI at $94.34 per barrel. Wednesday saw both benchmarks surge over 3 per cent after the IRGC reportedly seized two vessels in the Strait of Hormuz. Iran has since indicated it does not plan to resume negotiations in the near term. Axis Direct’s implied range for MCX crude stands at $89.28–$99.06, with a mild bullish trend score of +1.

Ruchit Thakur, Market Analyst at VT Markets, had flagged the structural support for oil: “…continued constraints such as disruptions in key transit routes like the Strait of Hormuz and cautious inventory trends are keeping prices supported…”

The ceasefire extension, however, introduced conflicting signals. A second round of US-Iran peace talks collapsed, and Vice President JD Vance cancelled his Pakistan visit after Iran declined to engage. Meanwhile, the Senate confirmation hearing of Fed Chair nominee Kevin Warsh signaled a potentially hawkish policy posture, adding downward pressure on metals. Markets are pricing in no rate cuts through 2026.

On the relative outlook for precious metals, Renisha Chainani, Head of Research at Augmonts, laid out the technical picture ahead of today’s session: “…gold is trading in the range of $4,650 and $4,850 from past few days. Either side breakout or breakdown will give a 3–4 per cent directional move…”

Base metals held firm. MCX copper traded near ₹1,300, up 1.74 per cent, supported by pre-holiday restocking in China ahead of the Labour Day break. LME aluminium gained 1.59 per cent, underpinned by Middle East supply disruptions and rising US import premiums. Axis Direct rated copper neutral with a trend score of 0.

Investors now await US jobless claims and S&P Global Flash PMI data due later Friday, which could reshape rate-cut expectations and set the near-term directional tone for commodities.

Published on April 23, 2026

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Pharma lifts Nifty off lows as crude oil, geopolitics keep markets under pressure at midday

by Hansraj Agrawal | Apr 23, 2026 | Business

Markets were trading sharply lower at midday on Thursday, April 23, 2026, though selective buying in pharma and energy stocks helped indices recover from their worst levels of the session. The BSE Sensex was down ₹710.66 or 0.91 per cent at 77,805.83, while the NSE Nifty 50 shed 162.90 points or 0.67 per cent to trade at 24,215.20 as of 12.25 PM — well off the gap-down open near 24,211 but unable to stage a meaningful recovery.

The opening was broadly negative, with Brent crude hovering above $103 per barrel and US Oil trading near $95, underpinned by Iran’s seizure of vessels in the Strait of Hormuz and stalled US-Iran negotiations. MCX Crude Oil was trading near ₹8,950, with immediate resistance at ₹9,100. The rupee continued to weaken, with USD/INR trading near ₹94.10, having recovered from recent lows of ₹92.60, reflecting persistent dollar demand and foreign outflows.

On the BSE, market breadth remained decisively negative. Of 4,244 stocks traded, 2,232 declined against 1,827 advances, with 185 unchanged. Twenty-one stocks hit 52-week lows against 129 at 52-week highs, while 173 stocks were in the upper circuit and 135 in the lower circuit.

Pharma emerged as the standout gainer of the session, with Dr. Reddy’s Laboratories surging 6.83 per cent to ₹1,300.10 after opening at ₹1,230.00, making it the top Nifty gainer by a wide margin. Cipla added 3.97 per cent to ₹1,285.40. Jio Financial Services rose 3.90 per cent to ₹247.81 on heavy volumes of over 4.33 crore shares, with a traded value of ₹1,05,665.65 lakh. Adani Enterprises gained 2.19 per cent to ₹2,310.30, and Sun Pharmaceutical Industries advanced 1.31 per cent to ₹1,691.60.

Financial and consumer stocks faced the sharpest selling. SBI Life Insurance was the top loser, down 3.08 per cent to ₹1,826.70. Bajaj Finance fell 2.51 per cent to ₹911.30, while Mahindra & Mahindra dropped 2.49 per cent to ₹3,071.40. Bajaj Finserv slipped 2.45 per cent to ₹1,797.70, and Trent lost 2.36 per cent to ₹4,330.00, with the retail stock seeing heavy volumes of 32.90 lakh shares worth ₹1,43,329.08 lakh.

Bank Nifty opened with a gap-down around 56,632, finding some support near the 56,400–56,500 zone. Reclaiming the 57,000 level remains the key threshold to watch for any recovery, while a break below 56,200–56,000 could push the index toward 55,500, analysts noted.

On the commodities front, gold was under pressure on both global and domestic exchanges. COMEX Gold was holding above the $4,700 level but had slipped below key moving averages, with a decisive break below $4,680 risking a slide toward $4,640–$4,600. MCX Gold opened with a gap-down and was trading above ₹1,51,500–₹1,52,500, with a sustained move above ₹1,55,000 required to revive momentum. COMEX Silver was trading below $76, with support at $75, while MCX Silver was within the ₹2,42,000–₹2,45,000 range.

Infosys’ Q4 results, due later in the day, remained the single most-watched domestic trigger, with the IT sector under pressure after HCL Technologies’ recent weak guidance. The earnings trajectory and management commentary on forward guidance are expected to set the tone for the broader IT sector through the remainder of the earnings season.

The Nifty’s immediate resistance remains at 24,400, and analysts said a sustained close above that level is needed to restore upward momentum. On the downside, the 24,100–24,000 zone is seen as a critical support band. Until geopolitical tensions show signs of easing and crude prices stabilise, markets are expected to remain range-bound with a negative bias through the afternoon session.

Published on April 23, 2026

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खुशखबरी: कच्चे तेल के दाम 0 के पार भी पहुंचे, तो भी 7% की रफ्तार से बढ़ेगा भारत, Assocham की

खुशखबरी: कच्चे तेल के दाम $100 के पार भी पहुंचे, तो भी 7% की रफ्तार से बढ़ेगा भारत, Assocham की

by Hansraj Agrawal | Apr 23, 2026 | Business

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Key points generated by AI, verified by newsroom

कच्चे तेल की कीमत 90-100 डॉलर रहने पर भी ग्रोथ 7% से ऊपर रहेगी।
महंगे तेल के बावजूद देश ने क्षमता मजबूत की है, कई बार ऐसा हुआ।
2022-23 में 93 डॉलर तेल पर ग्रोथ 7.6%, 2023-24 में 82 डॉलर पर 7.2% रही।
2026-27 में खपत, निर्यात, निवेश से GDP ग्रोथ 7% से ऊपर रहने की उम्मीद।

Assocham Report: भारतीय अर्थव्यवस्था को लेकर Assocham ने भरोसा जताया है कि अगर कच्चे तेल की कीमत 90 से 100 डॉलर प्रति बैरल तक भी बनी रहती है, तब भी देश की विकास दर 7 प्रतिशत से ऊपर रह सकती है. यानी कच्चे तेल की कीमतों में दबाव के बावजूद भी ग्रोथ पर बड़ा असर पड़ने की संभावना कम है.

रिपोर्ट के अनुसार, पिछले कुछ सालों में देश ने कई मौकों पर महंगे तेल के असर के बीच अपनी क्षमता को मजबूत किया हैं. ASSOCHAM ने बताया कि देश पहले भी कई बार ऊंचे तेल कीमतों के दौर से गुजरा हैं. इसके बावजूद आर्थिक विकास की रफ्तार पर ज्यादा असर नहीं पड़ा.

तेल महंगा रहा, फिर भी ग्रोथ पर नहीं पड़ा ज्यादा असर

1. ASSOCHAM के मुताबिक 2000-01 से 2025-26 के बीच कई ऐसे साल रहे हैं जब कच्चे तेल की कीमतें मीडियम या हाई लेवल पर थी. हालांकि, इस दौरान भी भारत की अर्थव्यवस्था ने मजबूत ग्रोथ दिखाई.

2. आंकड़ों की बात करें तो, 2022-23 में करीब 93 डॉलर प्रति बैरल तेल कीमत के बावजूद ग्रोथ 7.6 प्रतिशत रही थी. वहीं, 2023-24 में लगभग 82 डॉलर प्रति बैरल के स्तर पर भी विकास दर 7.2 फीसदी रही.

3. 2011 से 2014 के बीच तेल 100 डॉलर प्रति बैरल से ऊपर था, तब भी GDP ग्रोथ 5.2 से 6.4 फीसदी के बीच रही थी. इन आंकड़ों से साफ पता चलता है कि, कच्चा तेल महंगा होने के बाद भी देश की अर्थव्यवस्था स्थिर बनी रही है.

GDP ग्रोथ 7% से ऊपर रहने की उम्मीद

ASSOCHAM का कहना है कि 2026-27 में भारत की GDP ग्रोथ 7 प्रतिशत से ऊपर रह सकती है. इसकी बड़ी वजह मजबूत खपत, स्थिर एक्सपोर्ट और लगातार बढ़ रहा कैपिटल इन्वेस्टमेंट है.

संगठन के अध्यक्ष Nirmal Kumar Minda के मुताबिक, ये सभी फैक्टर मिलकर अर्थव्यवस्था को मजबूती देते हैं. साथ ही आगे भी ग्रोथ को सपोर्ट करते रहेंगे.

तनाव बढ़ते ही कच्चे तेल की कीमतों में उछाल

मिडिल ईस्ट में हालात फिर से बिगड़ने के संकेत मिलते ही कच्चे तेल की कीमतों में तेज बढ़ोतरी देखने को मिली है. आज 23 अप्रैल 2026 को WTI क्रूड ऑयल फ्यूचर की कीमत 93 डॉलर प्रति बैरल के पार पहुंच गई. वहीं ब्रेंट क्रूड भी बढ़कर 102.501 डॉलर प्रति बैरल के आंकड़े पर पहुंच गया है. जिससे साफ है कि वैश्विक स्तर पर तेल की कीमतों पर इस तनाव का सीधा असर पड़ रहा है.