BluSmart Suspends Operations Amid SEBI Heat on Gensol Engineering
BluSmart has temporarily halted operations as SEBI intensifies scrutiny into alleged fund diversions by Gensol Engineering to related entities. This comes alongside SEBI’s move to ban Gensol’s promoters, deepening the regulatory spotlight on the company’s financial conduct.
DGCA Probes Air India Express Pilot’s Death
DGCA has initiated an investigation following the death of an Air India Express pilot due to a cardiac arrest at Delhi airport, raising concerns over aviation workforce health standards.
India’s Forex Reserves Near Record High
Foreign exchange reserves rose to $677.835 billion, putting India close to its all-time high. This bolsters the country’s ability to manage currency volatility and global economic headwinds.
Air Travel: India to Outpace China from 2026
India is set to surpass China in air passenger growth starting 2026, driven by rising middle-class demand, infrastructure improvements, and a boom in low-cost carriers.
India’s Exports Break Records
India’s goods and services exports touched a record $820.93 billion in FY25, while pharmaceutical exports crossed the $30 billion mark with 9% YoY growth.
FPIs Pull Out from Key Sectors
Foreign Portfolio Investors have offloaded shares in IT, financial services, and capital goods sectors till April 15, signaling caution amid global uncertainties.
Market Rebound
Markets bounced back with Sensex and Nifty surging nearly 2% on April 17, recovering from recent setbacks tied to U.S. tariff fears.
Corporate Highlights
- Infosys reported a marginal 1.8% profit rise in FY25.
- HDFC Bank posted 6.7% YoY Q4 net profit growth.
- Angel One saw a sharp 48.7% YoY drop in Q4 profits.
- Prestige reported a robust 48% YoY sales jump in Q4.
- Puravankara logged a 9% rise in FY25 collections.
- Home First Finance raised ₹1,250 crore via QIP.
- Gensol Engineering’s independent director Arun Menon resigned amid ongoing SEBI investigations.
Policy & Leadership Updates
- Arvind Shrivastava has been appointed as the new Revenue Secretary in a key bureaucratic reshuffle.
- Nirmala Sitharaman emphasized the need for policy agility to tackle global disruptions at a recent finance summit.
Other Key Developments
- Netflix will stop sharing subscriber metrics, shifting focus to revenue indicators.
- India-Middle East-Europe Corridor is gaining global praise for its potential to transform trade routes.
- Tata Steel Netherlands to undergo operational restructuring.
- SBI Cards launches a co-branded credit card with Tata Neu.
- CREDAI calls for an urgent revision in the affordable housing definition.
- India’s electronics industry is now actively exploring rare earth alternatives to reduce dependency on China.
- Glenmark Pharmaceuticals is preparing for a new tablet launch aimed at expanding its domestic portfolio.
