🗞️ Daily Business Brief – MAR 12 2025
- ED action against Reliance Group – Enforcement Directorate attaches fresh assets worth ₹581 crore in a case linked to Anil Ambani’s Reliance Group.
- US job market update – US weekly unemployment claims decline slightly to 213,000, indicating layoffs remain stable and the labor market continues to stay resilient.
- Government on LPG situation – Petroleum Ministry says India’s crude and LPG supply situation is comfortable with nearly 25,000 dealers reporting no shortages; urges fuel conservation where possible.
- Green Energy Corridor Phase-3 – Cabinet note expected soon for Phase-3 of the Green Energy Corridor; viability gap funding for battery energy storage likely within two months.
- February CPI inflation – CPI inflation rises to 3.21% in February vs 2.75% in January; food inflation at 3.47% while personal care, social production & miscellaneous goods inflation rises to 19.64% MoM.
- NSE IPO developments – NSE concludes selection of intermediaries for its proposed IPO and appoints Morgan Stanley and 19 others as bankers; Rothschild’s role as IPO advisor concluded.
- Green Energy Corridor expansion – Government sources indicate Cabinet approval soon for Phase-3 of the renewable transmission project spanning seven Indian states.
- India–Iran tanker talks – India negotiating with Iran for safe passage of about 20 tankers through the Strait of Hormuz including LPG cargoes for IOC and HPCL and crude shipments.
- Zydus Life innovation – Company launches AI-powered continuous glucose monitoring solutions Diasens and GlucoLive.
- Action Construction Equipment JV – ACE signs joint venture agreement with Japan’s Kato Works, forming ACE Kato Pvt Ltd with a 50:50 ownership structure.
- Biocon USFDA approval – Biocon Pharma receives USFDA approval for Liraglutide injection (gVictOza®) for treatment of Type-2 diabetes.
- ACME Solar BESS project – Company commissions second phase of 33.335 MW / 160.51 MWh battery energy storage system project.
- Sri Lotus Developers expansion – Company incorporates wholly owned subsidiary Sri Lotus Elegancia Realty Pvt Ltd with ₹10 lakh capital to expand real estate development.
- Kalpataru redevelopment project – Company signs Andheri West redevelopment project with a potential GDV of ₹1,400 crore.
- CESC renewable subsidiaries – Arm Purvah Green Power forms four new wholly owned subsidiaries to explore renewable energy opportunities.
- Emerald Finance partnership – Company partners with Parsavnath Advisors to launch early wage access program offering salary advance loans.
- Tata Steel GST dispute – Company files writ petition in Jharkhand High Court challenging ₹493.35 crore GST demand and ₹638.82 crore penalty order.
- EU energy policy discussions – EU considers expanding state aid in an emergency energy price plan and may soften carbon market reserve rules to lower power prices.
- Iran Strait of Hormuz stance – Iranian leader Mojtaba Khamenei says closure of the Strait of Hormuz should continue as leverage against adversaries.
- Trump on oil prices – Donald Trump says the US benefits from rising oil prices as the world’s largest producer but prioritizes preventing Iran from obtaining nuclear weapons.
- Iraq crude production – Iraq’s oil minister confirms ongoing crude output at around 1.4 million barrels per day.
- India fuel supply measures – Government plans to release commercial LPG cylinders for industrial use and provide additional kerosene and coal supplies to states.
- LPG supply reassurance – Oil minister says panic around LPG availability is driven by consumer anxiety rather than actual shortages.
- LNG cargo inflows – Large LNG shipments arriving daily from suppliers including the US, Norway, Canada, Algeria, and Russia; LPG production has risen 28% in the past five days.
- Gandhar Oil operational update – Company maintains optimal inventory levels at UAE plant and has diversified overseas supplier base amid geopolitical disruptions.
- Gandhar Oil pricing power – Company says it can pass rising costs to customers while managing challenges from higher base oil prices, forex depreciation and freight hikes.
- SEBI consultation paper – Regulator issues consultation paper proposing simplified documentation requirements for transmission of securities.
- Balaji Amines supply disruption – Middle East conflict disrupts LNG supply causing ammonia shortage that impacts company operations.
- DCM Shriram renewable capex – Board approves ₹87 crore investment and ₹130 crore capex for renewable power project at Bharuch facility.
- Avanti Feeds shareholding change – Kotak Mahindra Mutual Fund acquires over 5% stake in the company.
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