🗞️ Daily Business Brief – MAR 08 2025
- Switzerland criticizes the US–Israeli campaign against Iran, calling it a violation of international law.
- India vs New Zealand Final Advertising JioStar is quoting around ₹50 lakh for a 10-second advertisement slot, reflecting extremely high advertiser demand.
- Foreign Investors sold ₹21,000 crore worth of Indian equities in March amid West Asia tensions and rising crude prices, while domestic investors and SIP flows continue to support the market.
- Iran Leadership Update Iran’s Assembly of Experts has reportedly reached a consensus on the next Supreme Leader to succeed Ayatollah Ali Khamenei, though the name has not yet been disclosed.
- CBIC Customs Relief Government eases customs procedures for export goods returning to India due to shipping disruptions such as the Strait of Hormuz closure, enabling faster re-processing at ports.
- Kharg Island Risk US officials reportedly discussed the possibility of seizing Iran’s Kharg Island, which handles about 90% of the country’s crude oil exports.
- Solar Industries India conducts Bhoomi Pujan for a robotics and UAV manufacturing facility in Nagpur, focusing on advanced defence technologies and self-reliance.
- Kaveri Engine Program DRDO chief Samir V. Kamat says upgraded afterburner tests have pushed thrust to 81–83 kN from earlier 72 kN, moving India closer to reducing dependence on foreign engines by 2027.
- Tata Motors Passenger Vehicles Om Prakash Bhatt ceases to be an Independent Director of the company with effect from March 8.
- SML Mahindra February commercial vehicle sales declined 14% YoY to 1,442 units compared with 1,679 units last year.
- AU Small Finance Bank RBI modifies universal bank transition conditions on NOFHC structure following the bank’s request, easing regulatory requirements.
- Universal Bank Transition Removal of the NOFHC requirement is seen as positive for AU Small Finance Bank, reducing structural complexity and supporting a smoother transition to universal banking.
- Domestic LPG Prices Prices are unlikely to rise further despite recent hikes, with the ₹300 subsidy continuing for over 10.33 crore Ujjwala beneficiaries.
- Petrol and Diesel Prices Retail fuel prices are not expected to increase as India has sufficient stocks and the government aims to shield consumers from volatility.
- IRB Infrastructure Developers reports 22% YoY growth in toll revenue to ₹746 crore for February.
- Meesho receives a ₹1,500 crore tax notice from the Income Tax Department.
- KIMS Hospitals launches two new hospital facilities in Bengaluru, inaugurated by actor NTR Junior.
- Iran Oil Warning Iran warns that escalating conflict could disrupt its oil production and export sales.
- Indian Railways Infrastructure Upgrade Puri railway station modernization including ballastless tracks and development of platforms 7 and 8 will impact around 30 train services.
- Fuel Supply Assurance Government sources say India has adequate fuel stocks and efforts continue to maintain LPG subsidies and manage OMC under-recoveries.
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