Days after HDFC Bank part-time chairman Atanu Chakraborty stepped down, citing ethical concerns, the Reserve Bank of India has sought records of the bank’s March 17-18 board meetings, including audio and video recordings, reports Hamsini Karthik. The move suggests the banking regulator wants to examine the sequence of events that led to Chakraborty’s exit following an alleged confrontation with the executive management.
After the central government’s online gaming ban wiped out 95% of Dream11’s revenues, parent Dream Sports plans to enter the stock broking industry with Dream Street, as it looks to tap into the country’s rapidly expanding retail investor base. In an interview with Chandra R Srikanth and Vikas SN, chief executive Harsh Jain said that the company has received all requisite licenses and is testing the product internally, with a public launch expected soon.
The mood on Dalal Street has turned decidedly brighter after moves to end the war in West Asia. Stocks surged for a second straight day, with NSE’s benchmark Nifty50 rising as much as 1.72% to 23,306.45. Analysts told Paras Bisht that the 23,400 level is seen as a key resistance for the index, and if crossed, could trigger a fresh rally.
Some structural concerns, however, continue to worry investors. In a conversation with N. Mahalakshmi, BlackRock’s Asia Pacific Chief Investment Strategist Ben Powell described the current phase as a double whammy for Indian equities. Powell said that global shifts in tech leadership and rising energy risks have crimped capital inflows into India. The bullish sentiment on AI technologies is pouring money into South Korea and Taiwan, while India isn't perceived as a primary beneficiary of this phase of the AI cycle.
Investors are, meanwhile, showing caution. NSE witnessed a nearly 30% decline in new investor additions in FY26, the steepest decline in three years, amid a correction in Indian stocks and sustained foreign investor outflows. However, the overall investor base has continued to expand, albeit at a slower pace, reports Moneycontrol.
Companies are starting to feel the pressure of higher crude prices. Berger Paints will raise prices by 10% in a staggered manner, its managing director, Abhijit Roy, told Shiladitya Pandit and Aishwarya Nair. The country's second-biggest decorative paints maker said that the surge in crude prices has forced the company's hand, as it has for other players.
Rosneft-backed Nayara Energy is seeing a boost after relief from US sanctions on Russian oil allowed it to continue accessing crude from Russia, reports Aishwarya Nair. Nayara, which operates a 20 million tonne-a-year oil refinery at Vadinar in Gujarat and a network of over 7,000 petrol pumps, benefited from discounted Russian barrels over the past two years.
And finally, former Axis Mutual Fund chief trader Viresh Joshi has denied any wrongdoing in the alleged front-running case, maintaining that his role was purely operational, reports Brajesh Kumar. A special court under the Prevention of Money Laundering Act has, however, taken cognisance of the Enforcement Directorate’s chargesheet involving alleged proceeds of crime of more than Rs 106 crore.
