ICICI Bank reported a 9.28 per cent increase in its consolidated net profit to Rs 14,755 crore for the March quarter of FY26, primarily driven by a nearly 90 per cent reduction in provisioning. The bank's executive director, Sandeep Batra, noted strong asset growth but expressed caution regarding the geopolitical situation in West Asia.
Modi said that the West Asia crisis has been going on now for more than three weeks and is having a very adverse impact on the global economy and on people's lives. He said the entire world is urging all parties for the earliest resolution of this crisis.
'Mark Mobius's life was dedicated to investing.'
Airfares to Southeast Asia have surged 25 to 30 per cent, driven by high demand and limited airline seat capacity.
India's recurve and compound archers showcased their skills at the Asia Cup World Ranking Tournament Stage 1, securing top qualification spots in multiple events despite fielding a relatively inexperienced team.
India's net oil import bill could rise by $56 billion to $64 billion annually assuming global crude averages $110 to $115 per barrel in FY27.
Remittances from West Asia in March rose sharply amid the conflict in the region, with industry insiders estimating inflows to be 20-30 per cent higher than what is usual in a month.
The Rajya Sabha witnessed a heated debate between the opposition and the government regarding a discussion on the West Asia crisis, with accusations of political maneuvering and failure to uphold the dignity of parliamentary positions.
The Indian government is considering additional relief packages for vulnerable sectors like MSMEs to mitigate the impact of the ongoing West Asia crisis on the economy and inflation.
An Indian national has been killed in Kuwait following Iranian strikes on a power and water desalination plant, bringing the total number of Indian fatalities in the West Asia conflict to eight.
India's compound archers, led by Rajat Chauhan and Chikitha Taniparthi, dominated the Asia Cup World Ranking Tournament, while the recurve team faced disappointment.
Indian benchmark indices Sensex and Nifty experienced volatile trade, declining in early deals before fluctuating, as investors reacted to unabated foreign fund outflows and rising geopolitical uncertainties, particularly in West Asia.
Foreign Portfolio Investors (FPIs) have withdrawn Rs 19,837 crore from Indian equities in the first two trading sessions of April, extending a significant selling trend from March, driven by geopolitical uncertainty, rising crude oil prices, and a depreciating rupee.
Civil Aviation Minister K Rammohan Naidu announced that public sector oil marketing companies will implement a partial and staggered increase in jet fuel prices for domestic airlines, aiming to protect passengers from steep fare hikes.
India on Tuesday expressed deep concern over the escalating conflict in Iran and the Gulf region, urging all sides to exercise restraint and prioritise civilian safety.
India's services sector growth reached a five-month high in April, with the HSBC India Services PMI Business Activity Index rising to 58.8, primarily driven by robust domestic demand and a shift from international to local suppliers amidst the West Asia crisis.
Analysts predict that developments in West Asia and their impact on crude oil prices will heavily influence investor sentiment in the upcoming week. Global market trends, foreign investor activity, and rupee-dollar movement will also play a role.
India's retail inflation, measured by the Consumer Price Index (CPI), increased to 3.48 per cent in April, up from 3.40 per cent in March, primarily due to a surge in prices of gold and silver jewellery, as well as certain kitchen staples like tomatoes and cauliflower.
Fitch Ratings has warned that India's oil marketing companies (OMCs) could face significant credit pressure if crude oil prices remain elevated, leading to eroded earnings and increased working capital needs due to delayed fuel price pass-through.
Prime Minister Narendra Modi has appealed to citizens to adopt austerity measures, including avoiding destination weddings abroad and reducing edible oil consumption, to mitigate the impact of the West Asia crisis on India's economy.
Infrastructure major Larsen & Toubro (L&T) reported a 3 per cent year-on-year decline in consolidated net profit for Q4 FY26, reaching 5,325.60 crore, primarily due to exceptional gains in the previous year. Despite this, the company's consolidated order book surged by 28 per cent to 7.4 trillion, with international orders accounting for 52 per cent.
This is the time for India to plan forward fully, with the goal of Atmanirbharata, and energy security. The Persian Gulf is no longer a reliable source, points out Rajeev Srinivasan.
India's state-run oil marketing companies (OMCs) are projected to incur under-recoveries of approximately Rs 80,000 crore on liquefied petroleum gas (LPG) sales in FY27 if current loss levels persist, according to rating agency Icra.
Amid rising tensions in West Asia, China is urging all parties to cease military operations, following Trump's appeal for help in securing the Strait of Hormuz.
The deployment could include infantry and armoured units, in addition to the 82nd Airborne Division, which is already stationed in the region.
Indian oil marketing companies are incurring significant losses, selling petrol at a Rs 14 per litre loss and diesel at Rs 18 per litre, as elevated global crude oil prices, exacerbated by the West Asia crisis, outpace capped retail fuel rates, according to rating agency Icra.
Analysts are revising down India Inc's financial year 2026-27 (FY27) earnings growth forecasts, citing persistently high crude oil prices above $100 a barrel due to the West Asia conflict, which is expected to dent corporate financial performance in the coming quarters.
The Reserve Bank of India (RBI) has opted to keep its key interest rates unchanged at 5.25%, anticipating a global economic recovery following a ceasefire in the US/Israel-Iran conflict, despite ongoing inflationary pressures and currency fluctuations.
According to the report, the Pentagon is deploying the USS Tripoli ARG, along with the 31st Marine Expeditionary Unit (MEU), part of its own strike group.
Air India has deferred annual salary increments for its staff by at least one quarter and urged a "relentless focus on costs" due to external headwinds like the closure of Pakistan airspace, West Asia conflict, rupee depreciation, and a significant surge in aviation turbine fuel prices, though the airline has assured there will be no layoffs.
The Indian rupee weakened against the US dollar due to a strengthening dollar, high crude oil prices, and foreign fund outflows amid geopolitical uncertainties.
Analysts predict that the ongoing conflict in West Asia, crude oil price fluctuations, and the US Federal Reserve's interest rate decision will significantly influence the Indian equity market this week.
On Saturday, it was reported that a drone strike had targeted the Fujairah Port in the UAE, triggering a fire.
India's foreign exchange reserves increased by USD 2.362 billion to reach USD 703.308 billion for the week ending April 17, as reported by the Reserve Bank of India (RBI).
Foreign investors pulled out Rs 21,000 crore (around $2.3 billion) from Indian equities over the last four trading sessions amid deteriorating global risk sentiment triggered by the West Asia crisis.
US President Donald Trump said the United States faces a stark choice in its approach to Iran, either to pursue a negotiated settlement or escalate militarily, as tensions continue to rise in the West Asia region.
'Markets never fully lose hope. But an important shift could come if the Strait remains closed -- moving from high prices to no prices.'
The Confederation of Indian Industry (CII) has urged the Indian government to gradually restore the Rs 10-per-litre cut in special additional excise duty on petrol and diesel over six to nine months. This move aims to relieve pressure on government finances as crude oil prices stabilise, without significantly impacting consumer sentiment.
Indian weightlifters are set to compete in the Asian Championships, aiming to leverage home advantage and gain momentum for the upcoming Commonwealth and Asian Games.
India's defence expenditure surged to $92.1 billion in 2025, making it the world's fifth-largest military spender, according to SIPRI data. This 8.9 per cent year-on-year rise was primarily driven by operational and procurement needs following heightened regional tensions with Pakistan in May 2025.
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