Sri Lanka has established emergency hotlines and is closely monitoring the situation in West Asia following escalating tensions, urging restraint and de-escalation from all parties involved.
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.
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.
Indian stock markets are poised for volatility this week, driven primarily by the outcomes of five state assembly elections, ongoing high crude oil prices amid West Asia tensions, and the release of Q4 corporate earnings, according to market analysts.
AI-powered fleet safety and performance solutions provider Netradyne has acquired European fleet intelligence and connected mobility company Moove Connected Mobility for an undisclosed sum.
Sri Lanka has established emergency hotlines and is in close contact with its diplomatic missions in West Asia following escalating tensions in the region. The country is also preparing its airports for potential flight diversions and emergencies.
The 2026 Asian Senior Weightlifting Championships, featuring athletes from 30 countries, will be held in Gandhinagar from May 11 to 17. The event serves as a qualifier for the 2026 Commonwealth Games.
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.
Prime Minister Narendra Modi spoke with Iranian President Masoud Pezeshkian to discuss the escalating tensions in West Asia, emphasising the safety of Indian nationals and the need for regional stability through dialogue and diplomacy.
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.
Even as the benchmark and broader indices were down sharply on Monday due to escalating tensions in West Asia, the Nifty Defence index ended the session in the green.
US President Donald Trump is set to visit China for talks with President Xi Jinping on trade, global issues, and the Gulf war. The visit aims to address trade frictions and other key issues, with high expectations for progress.
'General Subramani's appointment as military adviser in the NSCS has given him insight into decision-making at the apex level prior to formally taking over as CDS.'
The ongoing West Asia conflict is expected to severely impact the supply of affordable housing in India, as rising input costs further erode already thin developer margins. Fluctuations in crude oil and gas prices, coupled with higher freight costs, are driving up prices of essential construction materials like cement and steel, making new projects increasingly unviable for developers.
The Cabinet Committee on Security (CCS) has reviewed the evolving situation in West Asia, directing departments to assist Indian nationals affected by recent developments and emphasizing the need for dialogue and diplomacy.
National Conference President Farooq Abdullah has voiced his concern over the escalating violence in West Asia, urging all parties to prioritise dialogue and diplomacy to de-escalate tensions and protect civilian lives.
Explore the resilient daily life in Tehran, where residents navigate geopolitical tensions and economic challenges with routine activities, showcasing a striking contrast between normalcy and underlying uncertainty.
An Iranian tanker successfully bypassed the US Navy to deliver crude oil to the Asia-Pacific region, despite ongoing tensions and a US blockade.
Iran has submitted its latest proposal aimed at advancing negotiations to end the ongoing West Asia conflict with the US, days after the Islamic Republic submitted a fresh proposal through regional intermediaries to cease its military operations in the Strait of Hormuz, which is likely to get rejected by Washington.
There is no cause for concern, as the overall situation arising out of the crisis is firmly under control, the Centre informed while briefing political parties at the all-party meet.
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.
US President Donald Trump is reportedly considering military action against Iran due to stalled negotiations and Tehran's approach to its nuclear issue, according to CNN sources. Divisions within the Trump administration have emerged over the next course of action, with some officials advocating for a more aggressive approach through targeted military strikes.
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.
A Marshall Islands-flagged LPG carrier, MT Sarv Shakti, carrying Indian cargo, has safely crossed the Strait of Hormuz on Saturday and is expected to reach Visakhapatnam on May 13, according to official sources.
Amidst escalating tensions in West Asia, India voices strong concerns over the safety of its nationals and the potential disruption to energy supplies, urging dialogue and diplomacy for a swift resolution.
Aviation fuel prices for domestic airlines remain unchanged, providing stability for local carriers, while commercial LPG and 5-kg cylinders see a significant rate hike due to rising international energy costs.
MNS president Raj Thackeray questions the fuel consumption during recent election campaigns, asking if austerity measures are only meant for the common people.
Afghanistan-Sri Lanka white-ball series likely to be postponed indefinitely as West Asia conflict deepens
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.
'... with the rest split between mid and smallcaps, as valuations are becoming more attractive across segments.'
Moody's Ratings has reduced India's GDP growth forecast for 2026 to 6 per cent, citing subdued private consumption, capital formation, and industrial activity due to higher energy costs and global uncertainties.
'Markets never fully lose hope. But an important shift could come if the Strait remains closed -- moving from high prices to no prices.'
India's foreign exchange reserves saw a significant drop of USD 7.794 billion, settling at USD 690.693 billion for the week ending May 1, as reported by the RBI, reflecting the impact of global events and central bank interventions.
"Our strategy has always been to focus on volume-led penetration growth," said Manish Tiwary, chairman and managing director, Nestle India.
India's fertiliser subsidy bill for the current financial year (FY27) is projected to increase by approximately 20% due to surging global prices, primarily driven by the West Asia crisis, a senior official confirmed. Despite this, retail prices for urea and di-ammonium phosphate (DAP) will remain unchanged, ensuring adequate supply for the kharif season.
A Lenovo study reveals that Indian enterprises are planning to increase their investments in Artificial Intelligence (AI) at a higher rate than other countries in the Asia-Pacific region.
IBM and Yotta Data Services have announced a partnership to deliver an agentic artificial intelligence (AI) platform for enterprises and government organisations in India, leveraging IBM WatsonX Orchestrate and Yotta's Shakti Cloud.
'India's security challenges are no longer confined to the Line of Control or the Line of Actual Control.'
'They also span cyber networks, economic systems, information warfare, technology ecosystems, maritime routes, and internal social cohesion.'
British Prime Minister Keir Starmer has called for a negotiated settlement with Iran and deployed additional fighter jets to West Asia to strengthen the UK's defensive operations.
India possesses two months of fuel stockpiles and faces no supply concerns despite global energy disruptions, according to Oil Minister Hardeep Singh Puri. However, state-run fuel retailers are incurring losses of up to Rs 1 lakh crore in a single quarter due to elevated crude prices and unchanged retail fuel prices, raising questions about the sustainability of these losses.
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