Business

Indian equity benchmarks Sensex and Nifty closed lower on Tuesday after a late sell-off in heavyweight stocks like HDFC Bank and Reliance Industries erased early gains. Concerns over the rupee hitting a fresh record low and elevated crude oil prices also weighed on investor sentiment, though IT stocks provided some support.

India’s ambitious piped natural gas expansion is significantly behind schedule, with city gas distribution companies connecting only a fraction of the government’s daily target. Acute shortages of certified gas plumbers and weak consumer uptake, particularly in rental housing, are major impediments to achieving the 2030 goal.

PepsiCo plans to invest up to Rs 5,700 crore in India by 2030, primarily to expand manufacturing capacity for its foods business. The investment will support facilities in Madhya Pradesh, Assam, and Tamil Nadu, strengthening the company’s presence in a key global growth market. This commitment underscores PepsiCo’s long-term growth strategy in India, with some

A US-Israeli war with Iran has triggered significant global economic fallout, with companies reporting at least $25 billion in losses due to soaring oil prices and disrupted trade routes. Businesses worldwide are implementing cost-cutting measures, including price hikes and reduced production, as the conflict impacts various sectors, particularly airlines.

Economists say that if the situation does not improve in the coming days, then more hikes may be in the offing. However, the approach of gradual hikes in petrol and diesel prices is to avoid an immediate inflation shock to the economy.

Stocks of several Adani Group firms, including Adani Enterprises, Adani Green, Adani Power, Adani Ports, Adani Energy and Adani Total Gas, rose by as much as 3.5% after the case was effectively closed the securities and wire alleged fraud case in New York.