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May 2, 2026
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Goods and Services Tax collections in Punjab hit a record high, driven by stronger enforcement and improved compliance.
Punjab reported its highest-ever monthly Goods and Services Tax collection in April 2026, with gross and net collections at record levels and the State claiming the highest year-on-year GST revenue growth among the States. The comparison with the previous year was said to be affected by an abnormal IGST adjustment from April 2025, and adjusted growth figures were presented as evidence of continued organic improvement in tax administration and compliance. The performance was attributed to intensified enforcement activity and broader administrative measures under the State's GST regime.
May 2, 2026
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Foreign investment liberalisation expands automatic-route access for companies with limited Chinese shareholding and opens insurance sector to full FDI.
Foreign companies with Chinese or Hong Kong shareholding of up to 10 per cent are eligible to invest in India under the automatic route in sectors where FDI is permitted, subject to sectoral conditions. The land-border restriction now applies to beneficial owners, with excluded coverage for entities registered in China, Hong Kong, or other land-border countries, and certain investments remain subject to Reserve Bank reporting requirements. The rules also allow 100 per cent FDI in the insurance sector under the automatic route, subject to a 20 per cent cap for Life Insurance Corporation.
May 2, 2026
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Anticipatory bail and custodial interrogation shape a Nashik harassment probe involving alleged coercion and multiple accused.
A Nashik court rejected the anticipatory bail application of a TCS employee accused in a case involving alleged sexual harassment and forcible religious conversion, after the prosecution said custodial interrogation was necessary. The case is part of a wider SIT investigation into multiple FIRs concerning alleged sexual harassment at the company's Nashik unit, while police custody of four other accused was extended for further investigation.
May 2, 2026
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Strategic buffers are needed to manage the West Asia energy shock, rising import dependence and inflationary pressure.
India should build strategic buffers to manage the impact of the West Asia energy shock, which is described as unusually severe because it affects both oil and gas and creates wider vulnerabilities in import-dependent inputs such as nickel, tin and copper. The shock is presented as primarily a price shock for India, with implications for energy costs, trade, logistics and remittances, while policymakers are urged to remain flexible and to strengthen resilience for manufacturing and supply security.
May 2, 2026
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Government equity stakes in private companies drive Trump's activist industrial policy and profit-focused intervention strategy.
Government equity stakes in private companies are being used by the Trump administration as an industrial and economic security tool, with the president treating such investments as potentially profit-making public transactions rather than traditional bailouts. The article describes the administration's willingness to take ownership interests in businesses such as Intel and its consideration of a stake in Spirit Airlines, subject to the deal being financially advantageous to the government. It also notes related interventions, including a golden share structure, limits on foreign buyers' conduct, and arrangements tied to chip sales and critical minerals.
May 2, 2026
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Anticipatory bail and custodial interrogation in alleged harassment and forced conversion case at a TCS unit.
Anticipatory bail was sought by an accused in a case involving alleged sexual harassment and forcible religious conversion at the Nashik unit of TCS. The prosecution opposed pre-arrest protection on the ground that the offence was serious and that custodial interrogation was necessary because the applicant was described as one of the prime accused. The FIR alleged that she advised women employees to dress and behave in accordance with Islamic traditions.
May 2, 2026
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Preferential trade pact and wider cooperation shape India-Ecuador ties across healthcare, trade, technology and medical regulation.
India and Ecuador explored a preferential trade pact alongside wider cooperation in healthcare, agriculture, digital technology, trade and investment. The talks also covered expansion of Indian pharmaceutical exports, critical mineral supply chain partnerships, Ecuador's decision to join the International Solar Alliance and the International Big Cat Alliance, and a grant assistance MoU for Quick Impact Projects in Ecuador. Health discussions focused on affordable healthcare solutions, medical systems, regulatory cooperation in medical products and recognition of the Indian Pharmacopoeia.
May 2, 2026
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Foreign currency financing in GIFT City expands Natixis CIB's India presence and client servicing capabilities.
Natixis Corporate & Investment Banking opened a branch in GIFT City to strengthen its presence in India and the Asia Pacific region and expand client servicing. The branch will offer foreign currency-denominated structured products and financing, including energy and commodities, infrastructure, aviation and export financing, and will cater to corporate and institutional clients. The expansion is described as aligned with operational requirements and the applicable regulatory framework governing activity in GIFT City, including External Commercial Borrowings.
May 2, 2026
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Airline insolvency and shutdown prompt immediate wind-down, flight cancellations, refunds, and major job and market impact.
Spirit Airlines announced an immediate orderly wind-down of operations, cancelling all flights and ending customer service. The shutdown followed the failure to secure a government bailout amid severe financial distress, including repeated bankruptcy proceedings, heavy debt, rising operating costs and higher jet fuel prices. The company said customers could expect refunds, while about 17,000 jobs and competition in the budget airline market could be affected.
May 2, 2026
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Bankruptcy and bailout pressure left Spirit Airlines facing shutdown risk amid mounting debt and repeated insolvency filings.
Spirit Airlines faced an acute shutdown risk after the expected government bailout did not materialise, leaving its future uncertain amid a reported final proposal for a taxpayer-funded takeover. The airline's financial distress arose against the backdrop of repeated bankruptcy proceedings, rising operating costs, mounting debt and higher jet fuel prices, with prior Chapter 11 protection and later bankruptcy filings reflecting continuing balance-sheet strain.
May 2, 2026
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Financial market development reforms deepen liquidity, expand participation, and strengthen transparency across India's money, bond, and derivatives markets.
Indian financial markets are described as having matured through policy support, with stronger liquidity management in money markets, deeper and more liquid government securities markets, and an evolved derivatives framework for wider participation and easier risk management. Market infrastructure reforms include electronic trading platforms, expanded central clearing, initial margin rules for non-centrally cleared derivatives, and enhanced reporting of OTC foreign exchange, interest rate derivative, and gold transactions. Ease of investment for foreign investors has also been improved through relaxed norms, expanded retention routes, permitted investments from Special Rupee Vostro Accounts, and connectivity between domestic and global bond platforms.
May 2, 2026
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Industrial corridor development gains focus as DPIIT reviews infrastructure progress, stakeholder concerns and investor facilitation needs.
DPIIT reviewed progress of industrial corridor projects in Haryana and Rajasthan under the National Industrial Corridor Programme and held stakeholder consultations on implementation issues, infrastructure needs and investor facilitation. The review covered logistics hub development, industrial area infrastructure, a solar power project for industrial use and coordinated action by DPIIT, NICDC and State Governments to address bottlenecks, support industry requirements and strengthen investor confidence.
May 1, 2026
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Tariffs on EU autos rise amid dispute over trade deal compliance and shifting trade authority.
Higher tariffs on cars and trucks imported from the European Union are set to be imposed, on the stated ground that the EU is not complying with the trade deal previously reached between the parties. The trade framework had set a tariff ceiling on most goods, but the legal basis originally used to impose those charges was later rejected, prompting the use of alternative authorities and interim duties tied to trade imbalance and national security inquiries.
May 1, 2026
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War powers and tariff authority shape the administration's latest moves on Iran, EU trade, and pipeline approvals.
The Trump administration is arguing that the war in Iran ended with an early-April ceasefire, so the War Powers Resolution deadline for congressional authorization does not apply. The administration is also reshaping tariff policy after a Supreme Court ruling limited emergency-based tariffs on EU goods, while a new Canada-to-U.S. oil pipeline has received a key federal approval but still needs further state and environmental clearances.
May 1, 2026
Show AI Summary
Money laundering through benami accounts alleged as ED seeks production warrant in extortion and fraud probe.
Enforcement Directorate sought a production warrant before a special PMLA court for a self-styled godman-cum-astrologer already in custody in separate rape and cheating cases, to proceed in a money-laundering investigation. The agency alleged an extortion racket, laundering through benami bank accounts, and acquisition of properties from proceeds of alleged victim exploitation and financial fraud, and said custody was needed to trace the money trail and identify beneficiaries.
May 1, 2026
Show AI Summary
Money laundering risk assessment now targets digital and cross-border frauds, cyber scams, and emerging PMLA threats.
Risk assessment vetting within the Enforcement Directorate has been used to screen and record PMLA matters involving emerging money-laundering threats. The committee, chaired by a Special Director-rank officer, identifies new risk categories such as cyber and crypto-related fraud, digital arrest, fake loan scams, foreign interference, lobbying against national interest, immigration scams, intellectual property fraud, human trafficking and drug trafficking. The reported trend has shifted from cash-based corruption allegations to complex digital and globally connected financial crimes.
May 1, 2026
Show AI Summary
EU auto tariffs and trade deal compliance take center stage as proposed tariff hikes unsettle bilateral trade terms.
The United States President announced an intention to raise tariffs on cars and trucks imported from the European Union to 25%, asserting that the EU was not complying with the parties' trade deal. The trade arrangement previously fixed a 15% tariff on most goods and was identified as the Turnberry Agreement, which both sides had earlier said they would preserve. The report notes that the status of the 2025 deal had already been unsettled after a Supreme Court ruling said the President lacked authority to declare an economic emergency and impose tariffs on EU goods.
May 1, 2026
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GST collections rise on compliance drives, AI-based scrutiny and expanded tax administration across Andhra Pradesh
Andhra Pradesh reported its highest-ever monthly tax collections since the introduction of GST, with April 2026 revenue showing year-on-year growth despite the impact of GST rate rationalisation. The collections rose across GST, IGST settlement, petroleum VAT and professional tax, supported by administrative efficiency, compliance improvement and growth in sectors such as real estate and construction. Revenue gains were reinforced by AI-driven data analytics, automated scrutiny, anti-evasion drives, UPI-based transaction analytics and database integration.
May 1, 2026
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Goods and Services Tax collection surge in Punjab driven by enforcement, compliance gains and technology-based anti-evasion measures.
Punjab reported its highest-ever monthly Goods and Services Tax collection for April, with gross and net GST receipts at record levels and strong year-on-year growth. The increase was attributed to improved core tax administration and compliance, and adjusted growth remained positive even after neutralising an abnormal IGST adjustment from the comparable period. Intensified enforcement, data analytics, intelligence-based inspections and anti-evasion drives were cited as key contributors, alongside technology-driven enforcement and taxpayer facilitation.
May 1, 2026
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Money laundering enforcement shifts toward cyber fraud and terror financing as asset attachments, prosecutions and safeguards expand.
Financial crimes have shifted from bank frauds, corporate scams and real estate cheating toward cryptocurrency fraud, cyber-enabled offences, terror financing and narcotics trafficking, with money laundering investigations described as highly complex because they involve multiple jurisdictions, cross-border transactions, layered financial structures and evolving technologies. The agency reported increased prosecution complaints, a high conviction rate, substantial asset attachments and use of restoration provisions to return properties to victims, while also strengthening supervisory controls, summons verification and accountability mechanisms.

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Greaves Cotton Q4FY26 Delivers 22% Overall Growth with Double-digit Growth Across Businesses Driven by Execution Excellence and Strategic Momentum

May 7, 2026

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Mumbai, Maharashtra, India (NewsVoir) • Reports consolidated Revenue of Rs. 1000 crore in Q4 FY26, delivering 22% YoY growth, and Rs. 698 crore on a standalone basis for Q4FY26, reflecting 22% YoY growth • International business continued to be a growth driver, contributing 13% across our Energy, Mobility & Industrial businesses.

Greaves Cotton Limited, a diversified engineering company, announced its financial results for the quarter and full year ended March 31, 2026, delivering a strong performance across businesses, underpinned by consistent execution, margin expansion, and strategic clarity through Greaves.Next.

Consolidated Revenue for Q4 FY26 stood at Rs. 1000 crore, up 22% YoY. EBITDA of Rs. 68 crore and Operating PBT of Rs. 44 crore Revenue for FY26 stood at Rs. 3437 crore, up 18% YoY. EBITDA of Rs. 239 crore and Operating PBT Rs. 154 crore. Operating PBT margins expand by 210 bps.

Standalone: Revenue for Q4 FY26 was at Rs. 698 crore, up 22% YoY. EBITDA of Rs. 87 crore and Operating PBT of Rs. 87 crore Revenue for FY26 stood at Rs. 2365 crore, up 19% YoY. EBITDA of Rs. 320 crore and Operating PBT of Rs. 312 crore, with operating PBT margins expand by 40 bps.

Management Commentary Parag Satpute, MD & Group CEO, Greaves Cotton Limited, said, “FY26 has been a defining year for Greaves Cotton, wherein we transitioned from strategy to execution under Greaves.Next. We delivered a robust 22% growth at a consolidated level driven by strong demand, improved profitability and disciplined execution. This was propelled by good momentum in the international business, particularly in the mobility business as we continued to focus on deepening partnerships and customer relationships with global OEMs. Energy Solutions is transitioning from a product to solutions-led business and continued its upward trajectory, strengthening its aftermarket business.

We are now entering the next phase of our journey, and we remain committed to sustainable growth, disciplined capital allocation, and creating long-term value for our stakeholders.” Business Highlights FY26 was a year of strong execution and strong broad-based growth across core businesses, with growth across all segments contributing to the Company’s performance, supported by healthy demand, sharper operating discipline, and strategic interventions.

Energy Solutions delivered continued growth momentum, with revenue increasing 17% in Q4 FY26 and 20% for FY26. Performance was led by a sharp 35% YoY growth during the year in aftermarket, post integration of sales and service.

Mobility Solutions recorded 16% growth in FY26 and 20% in Q4 FY26, supported by strong demand in the International Business, particularly for Euro V+ compliant diesel engines, as well as robust domestic demand across key end-use segments. Additionally, Excel Controlinkage added new products and solutions, entering supplies for the SCV segment, as well as new geographies and customers, thereby expanding presence despite facing global macro-economic headwinds.

Industrial Solutions delivered 6% in FY26 and 15% growth in Q4FY26 driven by strong demand across Agri, firefighting and defence applications.

International Business, identified as a key growth priority, grew in contribution to the core business revenue from 9% to 13% in FY26. The business strengthened its presence across global markets, driven by strong customer relationships, repeat orders across Europe and other regions.

Further, we enhanced capacity and capability of our CSN & Nagpur facilities, as we operationalized a dual conveyor setup at the single cylinder engines plant in CSN and increased efficiency and productivity in Nagpur.

In Greaves Electric Mobility, E-2W VAHAN registrations reached 61,597 units in FY26, delivering a strong 51% annual growth. The Company, now in top 6 E2W segment, exited Q4 with an improved market share of 4.4%, reflecting sustained market share capture and deeper penetration across urban and semi-urban markets. The Magnus 6.0, next generation of the flagship Magnus platform was launched to take on the ICE scooter segment.

In Greaves Finance, managed Assets Under Management (AUM) scaled to over Rs. 521 crore, increase from Rs. 445 crore in December. The company signed up with new OEMs like Simple, Suzuki and Ultraviolette and launched new products.

FY27 Outlook Building on a strong FY26, the Company enters FY27 with clear momentum and strategic clarity. We remain committed to strengthening execution, enhancing margins, and building a more resilient business. At the same time, we are closely monitoring the evolving macroeconomic environment and will act with agility to mitigate any potential headwinds.

With a strengthened operating foundation, the Company is well-positioned to deliver disciplined, high-quality growth across its core businesses, while continuing to scale new opportunities and evaluating entry into strategic adjacencies.

About Greaves Cotton Limited With a legacy of over 165 years, Greaves Cotton Limited is a diversified, future-ready engineering company delivering innovative and sustainable solutions to customers across key sectors. Renowned for its precision engineering and technology leadership, the Company’s growth strategy is anchored on three core dimensions: accelerating its core businesses, building new muscle onto the core, and expanding into new horizons across Energy Solutions, Mobility Solutions, and Industrial Solutions.

As one of India’s largest manufacturers of single-cylinder diesel engines and a pioneer in introducing them for microcar applications in the European market, Greaves continues to reinforce its commitment to accessible, efficient, and reliable mobility. The Company also has a longstanding association with the Indian armed forces, with its products supporting a range of defence and naval applications, embodying its role in industrial advancement and nation-building. Guided by its purpose of ‘Empowering Lives’, Greaves is committed to providing reliable products, sustainable technology, and customer-centric solutions. With its strong engineering foundation and continuous innovation, the Company aims to enable people, businesses, and communities to progress with confidence in a future rooted in engineering excellence and driven by efficient energy.

The investee companies of Greaves include Greaves Electric Mobility Limited (GEML) with its diverse portfolio of electric 2 & 3 wheelers for passenger and cargo mobility, and Greaves Finance Limited (GFL) with ev.fin, a 100% EV focused NBFC that leverages cutting-edge technology to offer customised financing options & seamless buying experience. Both these businesses play a significant role in accelerating EV adoption in India.

For more information, visit- www.greavescotton.com, For further information, please contact: [email protected] Note: "This press release may include statements of future expectations and other forward-looking statements based on 'management's current expectations and beliefs concerning future developments and their potential effects upon Greaves Cotton Limited and its subsidiaries/ associates ("Greaves"). These forward-looking statements involve known or unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those expressed or implied in such statements. Important factors that could cause actual results to differ materially from our expectations include, amongst others: general economic and business conditions in India and overseas, our ability to successfully implement our strategy, our research and development efforts, our growth and expansion plans and technological changes, changes in the value of the Indian Rupee and other currency changes, changes in the Indian and international interest rates, change in laws and regulations that apply to the related industries, increasing competition in and the conditions of the related industries, changes in political conditions in India and changes in the foreign exchange control regulations in India. Neither Greaves, nor our directors, or any of our subsidiaries/associates assume any obligation to update any particular forward-looking statement contained in this release." Disclaimer GREAVES ELECTRIC MOBILITY LIMITED (“GEML”), a subsidiary of GCL, is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its equity shares and has filed a draft red herring prospectus dated December 23, 2024 (“DRHP”) with Securities and Exchange Board of India (“SEBI”). The DRHP is available on the website of SEBI at www.sebi.gov.in, the website of the National Stock Exchange of India Limited at www.nseindia.com, the website of the BSE Limited at www.bseindia.com, on the website of GEML at www.greaveselectricmobility.com and on the websites of the lead managers, Motilal Oswal Investment Advisors Limited at www.motilaloswalgroup.com, IIFL Capital Services Limited (formerly known as IIFL Securities Limited) at www.iiflcap.com and JM Financial Limite at www.jmfl.com, respectively. Investors should note that investment in equity shares involves a high degree of risk. For details, potential investors should refer to the red herring prospectus which may be filed with the Registrar of Companies, Tamil Nadu at Chennai in the future, including the section titled “Risk Factors”. Potential investors should not rely on the DRHP filed with SEBI and the Stock Exchanges in making any investment decision. This announcement does not constitute an invitation or offer of securities for sale in any jurisdiction. The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended ("U.S. Securities Act"), and may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. Accordingly, the Equity Shares are only being offered and sold (i) within the United States to "qualified institutional buyers" (as defined in Rule 144A under the U.S. Securities Act) in private transactions exempt from the registration requirements of the U.S. Securities Act, and (ii) outside the United States in offshore transactions in reliance on Regulation S and the applicable laws of the jurisdiction where those offers and sales occur. There will be no public offering of the Equity Shares in the United States in this release." (Disclaimer: The above press release comes to you under an arrangement with Newsvoir and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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