IBTimes

Adani Power will acquire a 24 per cent stake in Jaiprakash Power Ventures along with the 180 MW Churk thermal power plant in Uttar Pradesh.

Shares of Parle Industries surged on Tuesday after Prime Minister Narendra Modi gifted Melody toffees to Italian PM Giorgia Meloni during his visit to Italy. Stock rose 5% intraday to Rs 5.25 and gained nearly 7% in a week. However, the catch is that Parle Industries does not make Melody toffees.

The Indian rupee fell to a record low of 96.90 against the US dollar amid a stronger dollar, elevated crude oil prices, FII outflows, and rising geopolitical tensions between the US and Iran. Meanwhile, global crude oil prices eased nearly 1 per cent.

India is projected to remain the world's fastest-growing major economy with a GDP growth rate of 6.4 per cent this year despite global uncertainties and the economic fallout from the Iran war, according to a UN report.

Indian oil companies continue to incur losses of around Rs 750 crore daily due to elevated crude prices. Officials stated that India remained an exception by keeping fuel prices largely unchanged since February 23, 2026, absorbing most of the global crude price shock.

IPO-related capital recycling, weak net FDI, rising overseas investments by Indian firms, sustained foreign investor outflows and alleged misuse of the Liberalised Remittance Scheme (LRS) have collectively led to massive forex leakages over the past decade.

The market downturn triggered heavy liquidations, with nearly $500 million worth of long positions wiped out within minutes during Asian trading hours. US-listed spot Bitcoin ETFs also recorded more than $1 billion in outflows last week, reflecting weaker investor sentiment.

PFRDA has introduced a new post-retirement withdrawal framework under the NPS, allowing retirees to opt for periodic payouts from the withdrawable portion of their pension corpus. The new drawdown facility enables subscribers to receive monthly, quarterly or annual payouts alongside the mandatory annuity income.

Bank of India has increased interest rates on medium- and long-term fixed deposits below Rs 3 crore, with revised rates going up to 6.70 per cent for select tenures. The revised rates came into effect immediately and also include additional benefits for senior and super senior citizens.

Global crude oil prices surged up to 3 per cent on Monday as escalating tensions between the US and Iran raised fears of supply disruptions following an attack near the UAE's Barakah nuclear facility. Brent crude climbed to $111.86 per barrel, while WTI crude rose to $108.70. In India.

Moody's has projected global oil prices to remain between $90 and $110 per barrel through 2026 due to continued US-Iran tensions and uncertainty over the Strait of Hormuz reopening. The agency said shipping disruptions have become a long-term supply constraint rather than a temporary shock.

Following the revision, petrol in Delhi is now retailing at Rs 97.77 per litre, while diesel costs Rs 90.67 per litre. Meanwhile, CNG prices in Delhi-NCR have also risen sharply, crossing the Rs 80 per kg mark after two consecutive hikes within 48 hours.

The airport handled 44.47 million passengers and 5,32,000 metric tonnes of cargo during the financial year, with international passenger traffic rising 23.9 per cent and overall traffic growing 6.2 per cent year-on-year. BLR Airport currently connects Bengaluru to more than 78 domestic and 34 international destinations.

The rupee fell to a fresh record low on Friday, slipping past the 96 mark against the US dollar as rising crude oil prices and the ongoing West Asia conflict continued to pressure the currency.

India's forex reserves rose by $6.3 billion to $696.99 billion in the week ended May 8, mainly due to a sharp rise in gold reserves, according to RBI data. Gold holdings jumped by $5.64 billion, while foreign currency assets also increased slightly.

The Centre on Friday raised petrol and diesel prices by Rs 3 per litre nationwide, the first retail revision in nearly four years, citing soaring global crude prices. In Mumbai, petrol rose to Rs 106.68 and diesel to Rs 93.14 per litre.

ITR filing process for AY 2026-27 has begun with Excel utilities for ITR-1 and ITR-4 now available on the e-filing portal. Taxpayers can file returns online or offline by uploading JSON files, while the deadline for non-audit taxpayers remains July 31.