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    Rupee settles at record low of 96.35 against US dollar
    Indian markets capable of absorbing different types of shocks: SEBI chief on West Asia crisis
    Robert Vadra withdraws in Delhi HC plea against trial court summons in Haryana land deal case
    Rupee falls to record low of 96.25 against US dollar
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    West Bengal rice industry seeks infra push, faster clearances from new BJP govt
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    Nigerian national held in Delhi for running cyber fraud racket: UP STF
    Brass bands in Beijing make way for sticker shock at home as Trump returns to escalating inflation
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May 18, 2026
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Bail as the norm in UAPA cases shapes liberty analysis even where drug trafficking and terror financing are alleged.
Bail continues to be treated as the norm and jail as the exception even in UAPA matters, including cases alleging drug trafficking and terror financing. The gravity of the accusation by itself does not displace the governing bail principle, and personal liberty remains a central consideration in criminal procedure despite the special statutory framework involved in such prosecutions.
May 18, 2026
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Rupee weakness and forex pressure prompt tighter precious metal import controls to curb dollar outflows and support external stability.
The Indian rupee weakened to a record low against the US dollar amid a strong dollar, rising crude oil prices, geopolitical tensions, and foreign portfolio outflows. The government tightened controls on precious metal imports to reduce forex outflows and restrain non-essential imports by raising import duty on gold and silver and placing silver under a licensed import regime.
May 18, 2026
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Market resilience and domestic investor confidence help Indian markets absorb global shocks and recover after volatility eases.
Indian markets are described as resilient enough to absorb external shocks arising from global crises, including conflict-driven volatility, supply chain disruption, inflationary pressure, spillover effects and second-order effects. The market impact of international developments is presented as natural in an interconnected global system, while the domestic market is said to regain its normal trajectory after the shock subsides. The statement also notes foreign portfolio investment outflows since September 2024, alongside continued confidence among domestic investors.
May 18, 2026
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Money laundering summons challenge withdrawn as the petitioner exited the High Court plea, leaving contentions open for trial proceedings.
A petition challenging a trial court summons in a money laundering case arising from a Haryana land deal was unconditionally withdrawn before the Delhi High Court, with all rights and contentions kept open. The underlying dispute involved prosecution under the Prevention of Money Laundering Act, a chargesheet filed by the Enforcement Directorate, and an argument that the alleged predicate offences were not scheduled offences at the relevant time.
May 18, 2026
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Rupee pressure intensifies as oil prices, dollar strength and import curbs shape forex management measures.
The rupee weakened sharply amid elevated crude oil prices, a stronger US dollar, global uncertainty and geopolitical tensions. Market participants said the government and the RBI had begun proactive measures, while separate import curbs were reported for silver after higher customs duty on precious metals, with the stated aim of controlling forex outflows by curbing non-essential imports.
May 18, 2026
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Intra-BRICS trade and economic cooperation gain emphasis through calls for stronger value chains, services trade and MSME support.
BRICS trade and economic cooperation was highlighted as a growing platform for emerging markets and developing economies, with intra-BRICS merchandise trade described as having expanded sharply over time and still retaining significant untapped potential. The deliberations focused on strengthening the multilateral trading system, supporting the internationalisation of Micro, Small and Medium Enterprises, improving the resilience and diversification of global value chains, and expanding services trade.
May 18, 2026
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Digital public procurement platform GeM advances transparency, widens market access, and strengthens domestic enterprise participation.
Government e Marketplace (GeM) continues to function as a digital public procurement platform established through a Section 8 non-profit special purpose vehicle under the Companies Act, 2013 to develop, manage and maintain the procurement system for government buyers and sellers. The platform advances transparency, efficiency and technology-driven governance in public procurement while widening market access for domestic enterprises, including Class-1 local suppliers, Micro and Small Enterprises, women-led enterprises, SC/ST entrepreneurs and startups.
May 18, 2026
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Material support to Iran became the focus of US-China trade talks alongside broader negotiating terms and sector-specific trade understandings.
United States trade discussions with China centered on a commitment that China would not provide material support to Iran, while the United States did not seek direct Chinese action in relation to the Strait of Hormuz. Trade talks were also described as continuing at the officials' level, with consideration of a "Board of Trade" for negotiating trading terms on specific goods, alongside reported understandings on meat exports, biotechnology trade reviews, and aircraft purchases.
May 18, 2026
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Aquaculture and tobacco taxation pressures intensify as higher tariffs, GST and excise duties strain farmers and market procurement.
Aquaculture exporters and farmers in Andhra Pradesh are under pressure from the tariff burden on shrimp exports, domestic price weakness, and livelihood stress, prompting requests for higher working capital, interest relief, temporary exemption from interest and GST, export diversification, and transport and credit support. FCV tobacco farmers are also affected by higher GST and excise duty on cigarettes, which is reducing procurement and auction prices, and a review of the enhanced taxation and excise structure is sought to protect farmer interests and stabilise the market.
May 18, 2026
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Investment and industrial collaboration with Swedish and European companies advances India's reform-led growth, manufacturing and clean energy push.
India encouraged Swedish and European companies to deepen investment and industrial collaboration in manufacturing, clean energy, green hydrogen, telecom, digital infrastructure, electronics, deep tech, AI, mobility, healthcare, life sciences, semiconductors and advanced manufacturing. The engagement was linked to India's reform momentum, infrastructure growth, ease of doing business and young workforce. It also highlighted the India-EU Free Trade Agreement, connectivity initiatives and cooperation in resilient supply chains, skill partnerships, talent mobility, green transition and co-created technology solutions.
May 17, 2026
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Electoral identity documents and Aadhaar records recovered from two locations trigger police investigation and political allegations.
Electoral identity documents and personal identification records were recovered in two separate incidents in West Bengal, prompting police investigation and political allegations. In Birbhum, a large number of Electoral Photo Identity Cards were found scattered in a field near the residence of a former Booth Level Officer, who said the cards had been kept with other papers after being collected during distribution of new voter cards. In Bidhannagar, police recovered more than a hundred Aadhaar cards, along with PAN cards and land-related documents, from a local political party office and seized them for investigation.
May 17, 2026
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Strategic partnership expands India-Netherlands cooperation in defence, critical minerals, semiconductors and green hydrogen.
India and the Netherlands elevated their relationship to a strategic partnership and adopted a roadmap to expand cooperation across trade, investment, defence and security, critical and emerging technologies, green hydrogen, semiconductors, critical minerals, health, water, renewable energy, agriculture, culture and people-to-people ties. The two sides also agreed to explore a defence industrial roadmap involving joint manufacturing, technology transfer and joint ventures, and to strengthen links between the Dutch Semicon Competence Centre and the Indian Semiconductor Mission.
May 17, 2026
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Rice industry infrastructure and export promotion drive calls for faster clearances, better logistics and stronger branding.
West Bengal rice industry has sought better infrastructure, faster clearances and stronger export promotion to support mill operations, warehousing and investment. Stakeholders have also pressed for a single-window clearance system, better rail and port connectivity, and a dedicated development board to coordinate farmers, mill owners, exporters and government agencies. Mill owners further said free rice distribution affects viability, while branding premium rice varieties could expand market share.
May 17, 2026
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Export diversification drives India's merchandise trade as North America, Northeast Asia and Latin America lead broader market growth.
India's merchandise exports in 2025-26 showed a broader geographic spread, with North America, North-East Asia and Latin America together accounting for over 35 per cent of total exports. North America remained the largest destination, while North-East Asia recorded the fastest growth, and East Africa, North Africa and several smaller regions also posted steady gains, indicating a more diversified and resilient export pattern across Asia, Africa and Latin America. Export diversification also widened at the product level, with Indian exporters reaching 1,821 new principal commodities.
May 16, 2026
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Money laundering investigation under PMLA leads to summons for PSPCL officials and alleged associates in linked fraud probe.
Enforcement Directorate action under the Prevention of Money Laundering Act involved summons to senior PSPCL officials and two alleged associates of a Punjab minister arrested in a linked money-laundering case. The investigation concerned alleged routing of funds through shell companies, alleged purchase of benami properties, and examination of multiple individuals connected with the matter. The summons required the persons to appear in Delhi for questioning.
May 16, 2026
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Import curbs on silver tighten trade controls as import policy shifts from free to restricted with licensing requirements.
Import policy for silver, including silver plated with gold and platinum, was revised from free to restricted with immediate effect, requiring a government licence for imports. The change followed an increase in customs duty on precious metals and reflects tighter controls on silver imports and related precious metal trade.
May 16, 2026
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Cyber fraud through fake social media profiles allegedly targeted victims with gift and customs duty extortion.
Cyber fraud through fake social media profiles involved allegedly impersonating foreign nationals to befriend victims and induce payments on the pretext of expensive gifts and foreign currency. The operation allegedly escalated into posing as customs or income tax officials and demanding money toward customs duty, income tax, GST and related fees after claiming that parcels had been detained at airports. Mobile phones and SIM cards were seized, and a case was registered under relevant provisions of the Bharatiya Nyaya Sanhita and the Information Technology Act.
May 16, 2026
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Inflation and affordability pressures dominate as tariffs, supply shocks, and rising borrowing costs strain US households.
Rising consumer inflation in the United States is reducing purchasing power as prices outpace wages and are expected to increase further under supply-side pressures, including tariffs, labor constraints, and oil disruptions. The article links higher inflation to increased borrowing costs and notes that trade and foreign-policy claims have produced little concrete relief for domestic affordability concerns. Political debate is focused on whether there is a credible plan to lower costs and address inflation.
May 16, 2026
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Insolvency resolution-driven land acquisition expands real estate portfolio through approved NCLT process and planned development
Acquisition of Township Developers India Pvt. Ltd. through the National Company Law Tribunal resolution process under the Insolvency and Bankruptcy Code, with Aspect Global Ventures emerging as the successful resolution applicant under the approved resolution plan and taking control of the assets for further development activity. The acquired assets include substantial land parcels in Maharashtra, intended for phased development subject to regulatory approvals.
May 16, 2026
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GST and VAT fraud through dummy firms and fund layering led to arrests and custodial interrogation.
Two persons, including a chartered accountant, were arrested in connection with alleged GST and VAT irregularities involving misuse of business credentials, dummy firms and layering of funds through multiple bank accounts. The complaint alleged unauthorised use of firm credentials for suspicious transactions, while investigators found cash withdrawals and electronic transfers without genuine business activity. The probe also pointed to dummy firms, filed GST compliances and rapid fund transfers to conceal beneficiaries and obscure the financial trail.

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Bhagyanagar India Ltd. Targets INR 5,000 Crore Revenue by FY 2029-30 Amid Expansion Plans Spearheaded by Devendra Surana

May 13, 2026

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Strong top-line and bottom-line growth driven by scale expansion, with revenue rising 46% to INR 2,377 crore and PAT increasing 258% to INR 50 crore. Hyderabad, Telangana, India – Business Wire India Hyderabad-based Bhagyanagar India Limited (BSE: 512296, NSE: BHAGYANGR) has reported strong financial growth for FY 2025–26, with revenue increasing 46% year-on-year to INR 2,377 crore and profit after tax rising 258% to INR 50 crore. Backed by rising demand across infrastructure, renewable energy, electric vehicles, and industrial manufacturing, the company has outlined a long-term roadmap targeting INR 5,000 crore in revenue by FY 2029–30. The growth comes amid increasing demand for copper across sectors such as renewable energy, electric mobility, power infrastructure, telecom, and data centres, where copper remains a critical industrial material. The company’s market capitalization has also crossed the INR 1,000 crore mark over the past year, reflecting increased investor interest and business momentum. Financial Highlights — FY 2025–26 (Consolidated) Figures in INR Crore. Source: Regulatory filings with NSE and BSE. Particulars FY 2025–26 FY 2024–25 Growth Revenue (Turnover) INR 2,377.83 Cr INR 1,625.61 Cr 46% Operational EBITDA INR 106.14 Cr INR 37.02 Cr 187% Profit Before Tax (PBT) INR 67.51 Cr INR 18.68 Cr 261% Profit After Tax (PAT) INR 50.17 Cr INR 14.02 Cr 258% Expansion Roadmap Bhagyanagar India and its leadership, headed by Devendra Surana, have outlined a long-term growth roadmap focused on expanding the company’s presence within India’s non-ferrous metals sector, which includes: • Capacity expansion to 45,000 metric tonnes: The company has already achieved 35,000 MT of production capacity as of March 2026, making the next phase of expansion a clear and credible strategic progression. • INR 40 crore capital investment: Committed to manufacturing infrastructure over the next two years, directly backing the capacity ramp-up. • Corporate restructuring via NCLT-admitted demerger scheme: An NCLT-admitted demerger scheme under which Bhagyanagar India’s copper manufacturing business will be carved out into Tieramet Limited — a standalone, independently listed company — creating a cleaner corporate structure and giving shareholders direct equity exposure to one of India’s most strategically positioned copper businesses. • INR 5,000 crore revenue target by FY 2029–30: Anchored by the ongoing capacity ramp-up and the convergence of powerful demand drivers — AI data centre build-outs, utility-scale renewable energy, electric vehicle adoption, and India’s accelerating push toward industrial self-reliance. Competitive Strengths Bhagyanagar India’s growth strategy continues to be supported by: • 40-year unblemished track record: Not a single loss-making quarter in the company’s history or a single day’s delay in any of its obligations stands out as a rare distinction in a cyclical sector, and a testament to the durability and strong corporate governance norms of its business model. • Deep OEM relationships: Long-standing supplier and customer ties with major industrial names, backed by hands-on leadership. • Sustained financial momentum: Seven consecutive quarters of profit growth, with operating leverage now visibly translating into margin expansion across the P&L. • Powerful sectoral tailwinds: India’s energy transition, EV adoption, AI infrastructure build-out, and the country’s broader manufacturing-led growth story — all of which run on copper. Commenting on the company’s performance and long-term vision, Shri Devendra Surana, Managing Director, Bhagyanagar India Limited, said: “The future runs on copper, and Bhagyanagar India has been contributing to that future for over four decades. As India continues to witness growth across infrastructure, renewable energy, electric mobility, and industrial manufacturing, we remain focused on expanding our capabilities, strengthening operational efficiencies, and building a sustainable growth platform within India’s non-ferrous metals sector.” He added: “With our NCLT-admitted demerger scheme progressing on schedule, our capacity expansion to 45,000 MT well underway, and an INR 40 crore capex commitment firmly in place, we are on a clear and well-funded path toward our INR 5,000 crore revenue target by FY 2029–30.” About Bhagyanagar India Limited Founded in 1985, Bhagyanagar India Limited is a Hyderabad-based copper manufacturer that run two ISO-certified plants on a 60-acre site, serves 500+ clients pan-India, and lead the Indian copper industry in value-added product breadth — a 35,000 MT integrated business with VAP at the core of its margin story. Through its wholly owned subsidiary, Bhagyanagar Copper Private Limited, the company manufactures copper bus bars, rods, strips, foils, sheets, pipes, solar fins, etc. that flow directly into transformers, switchgear, auto electrical components, solar water heaters, and telecom infrastructure. Company Website - https://bhagyanagarindia.com/ About Devendra Surana Shri Devendra Surana, Managing Director of Bhagyanagar India Limited is arguably one of the most well-networked and articulate industrialists in South India. A Mechanical Engineer from Osmania University and a Post Graduate Diploma in Management holder from IIM Bangalore — where he was recognised as the "Brain of the Batch" — Devendra Surana brings both technical depth and strategic clarity to a business that has thrived for over four decades. His industry standing is exceptional. He is the current President of the South India Chapter of Bombay Metal Exchange, a leading national industry body, and has previously served as Chairman of the Telangana State Council of FICCI, President of the Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI), and Founder President of the Young Entrepreneurs Organisation, Hyderabad. In 2018–19, the Hyderabad Management Association honoured him with the HMA Entrepreneur of the Year Award, presented by the former Vice President of India, Shri M. Venkaiah Naidu. To View the Image, Click on the Link Below: Shri Devendra Surana (Disclaimer: The above press release comes to you under an arrangement with Business Wire India and PTI takes no editorial responsibility for the same.). PTI PWR

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