INR settles lower as oil jumps amid uncertainty surrounding war developments

INR settles lower as oil jumps amid uncertainty surrounding war developments


The Indian rupee depreciated 5 paise to close at 92.59 (provisional) against the US dollar on Thursday, as the situation in West Asia remains fragile, keeping investors wary of the opening of the Strait of Hormuz. Indian shares tumbled on Thursday as confusion prevailed over the U.S.-Iran truce terms. The U.S. dollar index consolidated above the 99.00 level and oil prices were up more than 3 percent as Iran halted the passage of oil tankers through the Strait of Hormuz after accusing the United States of violating three clauses of the 10-Point Proposal. The BSE Sensex plummeted 931.25 points or 1.20% to settle at 76,631.65, while the NSE Nifty 50 fell 222.25 points or 0.93% to close at 23,775.10. At the interbank foreign exchange market, the rupee opened at 92.63 against the US dollar, then lost ground to touch an intraday low of 92.92 against the greenback. It also hit the day’s high of 92.53 during the session.

 

Disclaimer: No Business Standard Journalist was involved in creation of this content

First Published: Apr 09 2026 | 5:51 PM IST



Source link

Exchanges extend validity for SME IPO approvals amid global turmoil

Exchanges extend validity for SME IPO approvals amid global turmoil


Under the revised framework, SMEs whose listing approvals are set to expire between April 1 and September 30 will receive a one-time extension until September 2026, exchanges said.


Stock exchanges have extended the validity of in-principle approvals granted to small and medium enterprises (SMEs) planning to launch initial public offerings (IPOs), following a similar relaxation by the Securities and Exchange Board of India (Sebi) for mainboard issuances.

 


Under the revised framework, SMEs whose listing approvals are set to expire between April 1 and September 30 will receive a one-time extension until September 2026, exchanges said.

 


Companies availing of the extension will be required to submit an undertaking confirming compliance with Sebi’s Issue of Capital and Disclosure Requirements (ICDR) Regulations at the time of filing their offer documents.

 
 

Earlier, Sebi had granted comparable relief to mainboard IPO-bound companies by extending the validity of its observations expiring in the first half of FY27. The move came in response to concerns from market participants over challenges in raising capital amid heightened global volatility. 


Sebi bans Trdez Investment for ‘ponzi-like scheme’ 


The Securities and Exchange Board of India (Sebi) has imposed a penalty of ₹1 crore on stock broker Trdez Investment for allowing its registration to be misused by connected entities that allegedly mobilised funds from investors through high-return schemes. 


Earlier, exchanges had expelled the broker. In an adjudication order, Sebi said directors of the firm, along with associated persons, had created a network of partnership firms that raised money from the public while claiming links to the Sebi-registered broker. 


These entities allegedly promised returns of 8-10 per cent per month and operated in a manner “akin to Ponzi schemes”.

 

First Published: Apr 09 2026 | 5:34 PM IST



Source link

INR settles lower as oil jumps amid uncertainty surrounding war developments

Om Power Transmission IPO subscribed 0.39 times


The offer received bids for 23.69 lakh shares as against 60.02 lakh shares on offer.

Om Power Transmission received bids for 23,69,460 shares as against 60,02,730 shares on offer, according to stock exchange data at 17:00 IST on Thursday (09 April 2026). The issue was subscribed 0.37 times.

The issue opened for bidding on 09 April 2026 and it will close on 13 April 2026. The price band of the IPO is fixed between Rs 166 and 175 per share. An investor can bid for a minimum of 85 equity shares and in multiples thereof.

The offer includes a fresh issue of 75.75 lakh equity shares and an offer for sale of 10 lakh equity shares of Rs 10 each. The entire offer-for-sale portion is being made by the promoters: Kalpesh D. Patel (3.5 lakh shares), Kanubhai Patel (3.5 lakh shares), and Vasantkumar N. Patel (3 lakh shares).

 

Of the net proceeds from the fresh issue, the company proposes to utilize Rs 11.2094 crore towards funding capital expenditures, Rs 25 crore towards repaying in full or part of certain borrowing availed by the company, and Rs 55 crore towards funding working capital requirements and balance for general corporate purposes.

As of December 31, 2025, the company had total borrowings of Rs 38.4675 crore.

Om Power Transmission is an EPC company in power transmission, promoted by Kalpesh Patel, Kanubhai Patel, and Vasantkumar Patel. Founded in 2011, it executes high-voltage lines (11400 kV), substations (up to 220 kV), and underground cabling, providing turnkey solutions including O&M. Primarily serving PSUs (~84% revenue), it operates mainly in Gujarat and has expanded to Rajasthan, Punjab, and Dadra & Nagar Haveli. Its order book stood at Rs 744.6 crore across 58 projects as of Dec 31, 2025.

Ahead of the IPO of Om Power Transmission on 23 March 2026, the company raised Rs 45.01 crore from anchor investors by allotting 25.72 lakh shares at Rs 175 each to 4 anchor investors.

For the nine months ended 31 December 2025, the firm recorded a consolidated net profit of Rs 23.37 crore and sales of Rs 274.54 crore.



Source link

INR settles lower as oil jumps amid uncertainty surrounding war developments

TCS clocks PAT of Rs 13,718 crore in Q4; board OKs dividend of Rs 31/share for FY26


Tata Consultancy Services (TCS) reported a 2.08% rise in consolidated net profit to Rs 13,718 crore on 5.38% increase in revenue from operations to Rs 70,698 crore in Q4 FY26 as compared with Q3 FY26.

The companys revenue in dollar terms was $7,621 million, which is higher by 1.5% on a sequential basis. In constant currency terms, revenue grew by 1.2% quarter-on-quarter (QoQ) during the period under review.

In Q4 FY26, operating and net margins were 25.3% and 19.5%, respectively.

On year-on-year (YoY) basis, the companys consolidated net profit jumped by 12.22%, while revenue from operations increased by 9.65% in March 2026 quarter.

 

The companys total contract value (TCV) for Q4 FY26 was $12 billion. The company bagged three mega deals in the March 2026 quarter.

TCS has added 4 clients in the $100 million-plus category, 3 clients in the $50 million-plus category and 14 clients in the $1 million-plus category in Q4 FY26.

For FY26, the company has recorded net profit and revenue of Rs 52,820 crore (up 8.79% YoY) and Rs 2,67,021 crore (up 4.58% YoY), respectively.

The companys board has declared a final dividend of Rs 31 per share for FY26.

K Krithivasan, chief executive officer and managing director, said: “We are pleased to report the third consecutive quarter of sequential growth, supported by three mega deals and a $12 billion TCV, underscoring the strength of our five-pillar strategy and our AI led positioning across services.

It is equally encouraging that this momentum was broad based across major markets and most industries. While the macro-economic headwinds continue, we see sustained customer conviction in technology investments, which positions us well for the opportunities ahead.

Aarthi Subramanian, executive director – president and chief operating officer, said: “FY26 marked a pivotal year for enterprise AI adoption. In Q4, our annualized AI revenues surpassed $2.3 billion, driven by the accelerated deployment of AI solutions.

We experienced strong deal momentum across new services in Enterprise Transformation, Digital Engineering, and Cloud Modernization. Our investment in HyperVault was a catalyst in forging strategic partnerships with OpenAI, AMD and ABB, further strengthening our positioning across Infrastructure-to-Intelligence.

TCS is a digital transformation and technology partner of choice for industry-leading organizations worldwide.

The scrip had gained 1.09% to end at Rs 2587.75 on the BSE today.



Source link

INR settles lower as oil jumps amid uncertainty surrounding war developments

Japanese stocks fall as oil prices and geopolitical tensions rise


Japans stock markets declined on Thursday, giving back some of the previous sessions gains as higher oil prices and geopolitical uncertainty weighed on sentiment. The Nikkei 225 fell 0.73% to 55,895, while the broader Topix Index dropped 0.9% to 3,741.

Investor caution increased amid ongoing concerns over the fragile ceasefire involving Iran and the US-Israeli side. A senior Iranian official indicated that parts of the agreement may have already been violated following new Israeli strikes on Lebanon, while Iran continued to largely restrict traffic through the Strait of Hormuz.

On the corporate front, shares of Fast Retailing, the parent company of Uniqlo, edged lower despite raising its full-year profit outlook, supported by strong demand in the US and Europe. Meanwhile, Seven & I Holdings saw a sharp decline after announcing a delay in the planned listing of its US convenience store business due to uncertainties in its American operations.

 

Disclaimer: No Business Standard Journalist was involved in creation of this content

First Published: Apr 09 2026 | 4:50 PM IST



Source link

INR settles lower as oil jumps amid uncertainty surrounding war developments

BHEL rallies after signing TCA to strengthen excitation systems business


Bharat Heavy Electricals (BHEL) surged 4.29% to Rs 277.20 after the company signed Technology Collaboration Agreement (TCA) with E2S Company, Republic of Korea for excitation system used in synchronous machines.

The agreement covers Static Excitation Systems (SES) and Brushless Excitation Systems (AVR), strengthening the companys technological capabilities in this segment.

Under said TCA, the company will design, engineer, manufacture, install, commission, service, test and retrofit both static and brushless excitation systems for domestic as well as international markets. The TCA would also enable the company to maintain its competitive edge and strengthen capabilities to cater excitation system business for synchronous machines and contribute to the Governments Make in India initiative.

 

The financial terms and other commercial details of the agreement have not been disclosed.

Bharat Heavy Electricals (BHEL) is an integrated power plant equipment manufacturer, engaged in the design, engineering, manufacturing, erection, testing, commissioning, and servicing of a diverse range of products and systems. The company caters to key sectors of the Indian economy, including power, transmission, industry, transportation, renewable energy, oil & gas, and defence. BHEL is the flagship engineering and manufacturing enterprise of India and is owned and operated by the Government of India.

The company’s consolidated net profit surged 189.82% to Rs 390.40 crore while revenue from operations rose 16.43% to Rs 8,473.10 crore in Q3 December 2025 over Q3 December 2024.



Source link

YouTube
Instagram
WhatsApp