Business

Biocon founder Kiran Mazumdar-Shaw has identified her niece Claire Mazumdar, a US-based biotech entrepreneur and CEO of Bicara Therapeutics, as her future successor. The transition will happen gradually as part of the company’s long-term leadership and succession planning strategy

Jaguar Land Rover India has reduced prices of its imported Range Rover models by up to Rs 75 lakh, citing expected benefits from the proposed India-UK free trade agreement. The revised pricing applies to UK-imported CBU vehicles and is effective immediately

India ranks fifth among the world’s most spam-affected countries, with telemarketing and sales calls leading the problem. A Truecaller report shows 68 billion spam calls globally in 2025, with financial services and scams also contributing significantly in India.

India and Jamaica agreed to deepen trade, investment, and skilled workforce mobility during S. Jaishankar’s visit to Kingston, expanding cooperation across sectors while boosting development partnerships, diaspora ties, and multilateral coordination amid global economic shifts

Indian markets fell as Strait of Hormuz tensions and rising oil prices near $113 hit sentiment. BSE Sensex and Nifty 50 declined, while rupee hit record low amid geopolitical risks and global risk aversion

Kristalina Georgieva warned that prolonged Middle East war could push oil to $125 and worsen global inflation, activating adverse IMF scenarios. Growth may slow sharply, while energy volatility from the Strait of Hormuz keeps markets unstable

India’s auto retail sector began FY27 strongly, with record April sales of 26.1 lakh units, driven by two-wheelers and rural demand. Federation of Automobile Dealers Associations reported growth across segments, reflecting sustained consumption momentum and cautious optimism ahead 

The rupee declined 39 paise to close at a record low of 95.23 against the US dollar amid rising crude oil prices, foreign fund outflows and Middle East tensions. Analysts warned that continued pressure on oil prices may further weaken the Indian currency

Crude oil futures rose nearly 2 per cent to Rs 9,821 per barrel on MCX amid ongoing geopolitical tensions and supply concerns linked to US-Iran developments. Analysts said uncertainty around the Strait of Hormuz continues to keep global oil prices volatile

Benchmark equity indices Sensex and Nifty closed higher on Monday, supported by gains in blue-chip stocks, positive state poll trends and strong quarterly earnings. Investor sentiment also improved amid easing geopolitical concerns and stability in crude oil prices

Gold futures declined nearly 1 per cent to Rs 1.50 lakh per 10 grams on MCX, pressured by a strong US dollar and rising crude oil prices. Analysts said inflation concerns and hawkish central bank signals continued to weigh on bullion sentiment

State-owned BHEL reported a two-fold rise in consolidated net profit for the March quarter at Rs 1,290.47 crore, driven by higher revenues. The company also posted strong FY26 earnings growth and announced a final dividend of Rs 1.40 per share

Godrej Properties reported a 70 per cent rise in consolidated net profit for the March quarter and a 32 per cent increase in FY26 earnings, supported by strong housing demand, record sales bookings, higher cash flows and an expanding residential project pipeline

India will launch its first AI-powered orbital data centre satellite through Pixxel and Sarvam AI collaboration. The Pathfinder satellite will run AI models and hyperspectral imaging in orbit, enabling real-time data processing and advancing space-based computing capabilities

Benchmark indices Sensex and Nifty surged in early trade on Monday, driven by easing crude oil prices and positive global cues. Gains were led by Maruti and other blue-chip stocks, while investors tracked geopolitical developments and state election outcomes.

The rupee weakened by 11 paise to 94.95 against the US dollar in early trade amid Middle East tensions, high crude oil prices and foreign fund outflows. Markets remain volatile as geopolitical uncertainty and domestic factors weigh on investor sentiment.

Mumbai markets opened strong Monday as BSE Sensex and NSE Nifty surged on easing oil prices and positive global cues. Maruti Suzuki led gains after record April sales, while investors tracked crude trends and global developments

The approach to treat ULBs as a homogenous group, with a one-size-fits-all model, risks limiting autonomy and widening inequalities among Indian cities

An India-linked LPG tanker Sarv Shakti safely crossed the Strait of Hormuz amid regional tensions, en route to India with 45,000 tonnes of fuel. The rare transit signals limited reopening of a key global energy route under geopolitical disruption

OPEC+ agreed to raise June output by 188,000 barrels daily amid West Asia tensions and Strait of Hormuz blockade. United Arab Emirates exit weakens the group, while disrupted exports and diplomacy moves caused volatile global oil prices

The Finance Ministry has notified 100 per cent foreign direct investment (FDI) in the insurance sector under the automatic route, allowing overseas investors full ownership in insurance companies and intermediaries such as brokers. However, the cap for Life Insurance Corporation (LIC) remains at 20 per cent.

Dindayal Gupta, founder and chairman emeritus of Dollar Industries Limited, passed away in Kolkata at the age of 88 due to age-related ailments. Born in Haryana’s Bhiwani district, Gupta moved to Kolkata in 1962 and built Dollar Industries from scratch, with revenues crossing Rs 1,700 crore.

Jain is currently Executive Director at the Reserve Bank of India. He replaces T Rabi Sankar, whose extended tenure ended on May 2

Aviation fuel prices for international airlines rose about 5 percentage to dollar 1,511.86 per kl, while domestic carriers were shielded from hikes as authorities adopted a calibrated approach amid global energy volatility linked to geopolitical tensions and rising crude oil prices