🗞️ Daily Business Brief – MAR 29 2025
- RBI caps banks’ net open dollar positions at $100 million; lenders must reduce exposures by April 10, potentially triggering sharp rupee appreciation due to unwinding of excess long-dollar positions.
- Forex market impact bankers estimate up to $40 billion positions may need unwinding; a ₹1 gap between onshore and NDF markets could lead to ~₹4,000 crore MTM losses across banks.
- Rupee outlook dealers expect strong rupee movement as banks sell surplus dollar holdings following RBI’s sudden restriction.
- GR Infra secures ₹413 crore order from NTPC.
- Deepak Builders emerges L1 bidder for ₹474 crore IOC Panipat housing project.
- Bank of Baroda briefly barred by Madhya Pradesh government over ₹1,751 crore CM Kisan Yojana treasury classification issue; restriction revoked within 24 hours.
- TVS Holdings invests ₹526.79 crore in Home Credit India, increasing stake to 80.39% to support future growth.
- Coal India wins ₹1,057 crore battery energy storage system (BESS) project from Telangana GENCO.
- Info Edge commits ₹250 crore to deep-tech AIF A88 Fund I and exits Shopkirana via share swap with Trustroot Internet.
- CEA warning on West Asia conflict impact of Iran war may significantly affect India’s growth, inflation, fiscal balance and external stability; clearer FY27 outlook expected after April–May data.
- Oberoi Realty signs development agreement for ~4,800 sqm Mumbai land parcel; estimated free-sale entitlement up to 1.40 lakh sq ft.
- Jubilant FoodWorks faces LPG supply constraints at certain stores; operational impact limited with transition underway to PNG and electricity.
- Dilip Buildcon receives ₹698.5 crore LoA from Gujarat government.
- KNR Construction secures ₹1,734 crore HAM project order from NHAI.
- Sammaan Capital gets approvals for Avenir Investment acquisition; ₹8,849 crore equity infusion may raise stake up to 63.3% post open offer.
- Indian Navy readiness warships on standby to escort petroleum cargo vessels crossing Strait of Hormuz amid West Asia tensions.
- Thermax bags ₹1,600 crore boiler package order for ultra-supercritical thermal power project.
- Defence acquisition push Defence Ministry clears ₹2.38 lakh crore purchases; FY26 approvals reach ₹6.73 lakh crore.
- Enviro Infra Engineers wins ₹664.33 crore NTPC BESS EPC orders at Kudgi and Ramagundam with 18-month execution plus 11-year O&M.
- TVS Motor launches Apache RTR 310 motorcycle in Morocco, expanding Africa premium segment presence.
- PG Electroplast subsidiary PG Technoplast receives ₹37.5 crore PLI incentive approval under white goods scheme.
- Ram Ratna Wires approves ₹86 crore capex for Silvassa expansion, increasing capacity by 3,600 MT within 12 months.
- NTPC Green Energy commissions 105 MW Khavda-II solar capacity; total group capacity rises to 9,907.68 MW.
- RailTel Corporation secures ₹13.04 crore HMIS SITC and O&M contract from Mumbai Port Authority for five years.
- NTPC Green Energy declares final 75 MW of Bhadla solar project operational; group capacity reaches 9,802.68 MW.
- Bansal Wire Industries reports 35% capacity impact due to gas supply disruption amid West Asia geopolitical tensions.
- Titagarh Rail Systems wins order worth ₹226.35 crore.
- Fortis Healthcare subsidiary receives ₹117.04 crore income tax demand for AY25; evaluating appeal options.
- NTPC board approves ₹5,821.90 crore BESS investment and ₹3,173.67 crore additional equity infusion in Meja Urja Nigam JV.
- Avantel secures ₹137.12 crore IMD order for wind profiler systems with execution timeline until September 2027.
- Tata Steel receives interim relief as Coal Ministry admits revision plea against ₹385.19 crore Jharkhand coal demand.
- Sun Pharma partner Philogen reports mixed clinical trial updates; Fibromun misses Phase II endpoints while other oncology programs advance.
- India relaxes procurement norms for select state-run companies to source critical equipment from China.
- Iran reviews Pakistan-mediated 15-point proposal Parliament Speaker signals openness to diplomacy but warns aggression will be met with force.
- Iran strategic warning Tehran demands US condemnation of attacks on universities by March 30 deadline or threatens retaliatory strikes.
- Iran military stance armed forces reportedly prepared for escalation if US ground involvement occurs in the region.
- Israel assessment military estimates targeting of nearly 90% of Iran’s weapons development sites.
- Pentagon planning US reportedly preparing for extended ground operations scenario in Iran.
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