Business

Seven of India’s top-10 most valued companies lost over Rs 2 lakh crore in market value last week amid weak market sentiment. Reliance Industries and TCS led the decline, while select firms like SBI and Hindustan Unilever posted gains

Axis Bank reported a slight reduction in its workforce at the close of FY26, attributing the decline to productivity gains from sustained technology investments. Managing Director Amitabh Chaudhry emphasised that the headcount optimisation reflects the bank’s long-term digital transformation strategy rather than targeted cuts.

Union Minister Jyotiraditya Scindia announced a ₹2,500 crore defence manufacturing plant by Adani Group in Kolaras, Madhya Pradesh, expected to create 2,000 jobs and boost industrial growth while strengthening India’s defence production capabilities

India’s envoy Naveen Srivastava met Nepal’s Energy Minister Biraj Bhakta Shrestha in Kathmandu to discuss energy cooperation, cross-border projects, and regional connectivity. Both sides reaffirmed commitment to sustainable development amid ongoing India–Nepal power and transmission agreements

India’s electricity demand hit a record 252.07 GW as a severe heatwave increased cooling usage. Experts warn demand may rise further, while the government plans capacity additions to meet growing needs driven by weather conditions and changing consumption patterns

Gold prices fell 0.34 per cent for the week amid profit booking, though late recovery was seen on US–Iran talks and Fed rate expectations. Silver gained on Friday, but both metals remain range-bound amid geopolitical uncertainty.

CDS Anil Chauhan held key talks with US and UK military leaders, strengthening strategic alignment on Indo-Pacific security, technology cooperation, and global challenges, while signalling plans to expand bilateral and tri-service defence engagements and operational coordination

Indian equity markets declined nearly 2 per cent this week as West Asia tensions, a sharp rise in crude oil prices, and heavy IT selling weighed on sentiment, even as strong domestic institutional inflows helped limit deeper losses amid continued volatility.

Rising geopolitical tensions and disruptions in key maritime chokepoints expose India’s supply chain vulnerabilities

Reliance Retail Ventures Ltd, the retail arm of Reliance Industries, reported a 11.83% rise in gross revenue to Rs 3.70 lakh crore in FY26, while expanding its store count beyond 20,000. Profit after tax rose 11.73% to Rs 13,842 crore, supported by strong growth in hyperlocal commerce, FMCG, fashion, and grocery segments. J

Reliance Industries Ltd reported a 12.5% decline in net profit for the March quarter, with earnings at Rs 16,971 crore compared to Rs 19,407 crore a year earlier. The downturn was driven by weakness in its oil and chemicals segment, offsetting gains in telecom and retail.

Despite expanding health insurance coverage, the government’s promise of a financial safety net is eroding due to spiralling medical costs and persistently low public health spending 

Paytm Payments Bank has been barred from conducting any banking business, and the RBI will move the high court to initiate its winding up

Paris airport operator’s stake in the airports business arm of the GMR Group to drop from 32.3 per cent to 25 per cent after deal completion

Noida International Airport appointed CFO Nitu Sarma as interim CEO after BCAS rules required an Indian national for the role, while outgoing CEO Christoph Schnellmann moves to the Board as Executive Vice Chairman following the airport’s recent inauguration

An Indian seafarer aboard the Iranian-held vessel Epaminondas is safe, officials confirmed, amid escalating Strait of Hormuz tensions involving ship seizures by Iran, with multiple Indian crew members across vessels being monitored by the Ministry of Ports, Shipping & Waterways

The White House said Donald Trump extended a Jones Act waiver by 90 days, easing shipping rules for foreign vessels transporting oil and gas amid post-Iran conflict disruptions, aiming to stabilize supply and energy prices

The Ministry of Civil Aviation released DGCA FTO rankings showing improved pilot training standards, with Avyanna Aviation Pvt Ltd topping Category A, as India pushes transparency, safety, and expansion in aviation training under a national growth roadmap

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AI engineering job postings in India rose 59.5 per cent year-on-year, outpacing major global markets, driven by strong demand in Bengaluru, Hyderabad and emerging cities like Vijayawada, according to a LinkedIn report highlighting rapid adoption across industries.

Amazon India will invest over Rs 2,800 crore to enhance associate safety, healthcare, and financial wellbeing while expanding its nationwide logistics network. The investment supports AI-driven operations, quick commerce growth, and infrastructure expansion across fulfilment centres, delivery stations, and tier-2 cities.

Tesla plans to expand its supercharging network across major Indian cities to support its growing presence. The company aims to reduce range anxiety, enhance EV adoption, and provide a consistent global charging experience while strengthening its infrastructure and service network

India and the United States concluded three-day trade talks on April 23, with the Ministry of Commerce and Industry stating both sides agreed to stay engaged, advancing discussions on market access, digital trade, and a proposed bilateral trade agreement framework

Adani Green Energy Ltd reported a 34 per cent rise in Q4 net profit to Rs 514 crore, driven by higher power supply revenues. The company also posted strong capacity addition and revenue growth, despite a slight dip in full-year profit