Latest Developments

Asia
The Hindu BusinessLine

India-Australia relationship has 'never been more consequential': PM Albanese

Australian Prime Minister Anthony Albanese on Saturday announced his Indian counterpart Narendra Modi's visit to the Pacific nation next week, saying the bilateral relationship has "never been more consequential". "I am honoured to welcome my friend Prime Minister Modi to Australia for our Annual Leaders' Summit," Albanese said in a statement. Modi will visit Melbourne from July 8-10 as the second leg of a three-nation tour beginning in Indonesia on July 6 and concluding in New Zealand on July 11. “The Australia-India relationship has never been more consequential, and our partnership fosters peace, stability and prosperity in the Indo-Pacific,” Albanese said. "Our cooperation on trade, defence and security, and technology is delivering benefits for both countries," Albanese’s office added. Albanese last met Modi on the margins of the G20 Summit in Johannesburg in 2025. "As the world’s fourth largest and fastest growing economy, India is a critical economic partner for Australia," the statement said. "Our relationship is underpinned by our Comprehensive Strategic Partnership and supported by deep economic and cultural connections," it said. The Indian High Commission in Canberra welcomed Australia’s announcement in a post on X. "The visit reflects the depth of the India-Australia Comprehensive Strategic Partnership and our shared commitment to advancing peace, prosperity and stability in the Indo-Pacific. We look forward to a productive and memorable visit," the High Commission said. The leaders will meet in Melbourne for bilateral discussions. Modi will also call on Governor General Sam Mostyn AC during the visit, the Ministry of External Affairs said in a press release in New Delhi on Friday. Modi will also participate in the India-Australia CEOs Forum and address a gathering of the diaspora, it said.

India-Australia relationship has 'never been more consequential': PM Albanese
Asia
The Hindu BusinessLine

TMT rebar prices hit 6-month low at ₹50,000/tonne as monsoon impacts demand: Report

Prices of TMT rebars - a key construction material - has slumped to a six-month low to ₹50,000 a tonne, impacted by subdued demand and inventory in the markets, according to BigMint. The TMT rebar prices have seen a fall of 10 per cent in the latest price correction on June 30, from ₹56,000 per tonne at May-end, and around 16 per cent from ₹60,000/tonne in April. "Blast furnace route or BF-route rebar prices have corrected sharply and are at a six-month low," the markets research firm said in a report. The last low was witnessed in December when TMT rebar prices were around ₹49,000/ tonne, the report said. BigMint said the price fall is driven mainly by demand weakness and inventory overhang rather than any cost factor. Subdued construction activity and a typical monsoon-season slowdown, with rains disrupting site work and causing contractors to delay steel purchases, led to decline in prices, it stated. On the outlook, BigMint said over the medium term, some supportive factors could help stabilise or mildly lift prices. The offtake is expected to increase post monsoon supported by a sizeable pipeline of infrastructure and government-backed projects. The extent of any recovery will depend on how quickly funds are released, and current inventories are worked down. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

TMT rebar prices hit 6-month low at ₹50,000/tonne as monsoon impacts demand: Report
Asia
The Hindu BusinessLine

‘E20 is more a communication issue than a technology issue’: ARAI Chief Reji Mathai

In an interview with businessline, Director-General Reji Mathai explains why laboratory findings differ from consumer experience, what the data shows for older vehicles and how India will evaluate future ethanol blends. The government has repeatedly cited ARAI’s studies to defend E20. Has the agency become the government’s scientific shield? I would not describe this as a controversy. It is a technical issue that requires scientific understanding. The government is a much bigger institution than ARAI and does not require a shield. Our responsibility is to generate evidence through testing, analyse the results and submit recommendations. Policy decisions are taken by the government after consulting stakeholders. Our role remains that of an independent technical organisation. ARAI says E20 reduces fuel efficiency by 3-6%, consumer surveys suggest around 10%, while social media claims losses of up to 30%. Why such a wide gap? Our findings are based on globally accepted certification procedures carried out under controlled conditions. Under normal operating conditions, the reduction in fuel efficiency is typically 3-6%. Everyday mileage varies with traffic, driving style, road conditions and vehicle maintenance. Differences observed in real-world use cannot automatically be attributed to E20 fuel. These findings have also been reviewed by vehicle manufacturers. Since OEMs are the customer-facing organisations and know their products best, they should communicate the science more actively and address consumer concerns directly. Many owners of pre-2023 vehicles are worried about mileage and long-term durability. What does ARAI’s data show? We carried out extensive studies on older vehicles with automobile manufacturers because OEMs understand their products best. Vehicles were tested using the certification methodology applicable to their generation so comparisons remained like-for-like. The work included accelerated durability tests, long-duration engine evaluations, field trials on six- to ten-year-old vehicles and material compatibility studies with oil marketing companies and OEMs. The data is still evolving because older vehicles were certified under different procedures. Some may show a higher impact than the 2-6% seen under current certification conditions, but that has not been conclusively quantified. Some experts say older vehicles may eventually require retrofits if India moves to higher ethanol blends. Is ARAI studying that?

‘E20 is more a communication issue than a technology issue’: ARAI Chief Reji Mathai
Asia
The Hindu BusinessLine

Indian Potash Ltd ties up with UPL arm to boost sugarcane yield around Gujarat mill

Fertiliser firm Indian Potash Ltd has signed an agreement with agro chemical firm UPL Ltd to boost sugarcane productivity in catchment area of its sugar plant in Gujarat. UPL Sustainable Agri Solutions Ltd (UPL SAS) and Indian Potash Ltd (IPL) have entered into a three-year collaboration agreement to "enhance sugarcane productivity, sustainability, and farmer prosperity" in the catchment area of IPL's Kodinar Sugar Mill in Gujarat, a statement said. The partnership aims to implement regenerative farm practices, advanced agronomy, crop protection, nutrition management, digitalisation and farmer capacity-building initiatives across 2,000 acres of sugarcane cultivation. Under the agreement, UPL SAS, a subsidiary of UPL, will deploy a dedicated Program Officer to lead field-level implementation and farmer engagement activities. The initiative will focus on optimising key agricultural resources including seed, soil, water, fertilizer use and crop residue management. U S Teotia, Chief Agricultural Scientist in IPL, said the company is committed to supporting farmers through innovative and sustainable agricultural solutions. "This partnership with UPL will help strengthen our farmer engagement efforts, improve cane productivity and contribute to the long-term growth and competitiveness of our Kodinar Sugar operations," he said. The integration of scientific agronomy, digital monitoring and regenerative farming practices can significantly enhance sugarcane productivity while conserving natural resources, Teotia said. IPL is one of the leading importers, suppliers and distributors of fertilizers in the country. The company also operates in sugar manufacturing, agriculture services and allied sectors. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Indian Potash Ltd ties up with UPL arm to boost sugarcane yield around Gujarat mill
Asia
The Economic Times

Retail investors bet on these 10 small-cap stocks; they rally up to 185% in 3 months

Retail investors placed their bets on small-cap stocks last March '26 quarter—and the market rewarded many of them in a big way. Shareholding data shows that retail investors increased their stake in nearly 195 stocks in the Nifty Smallcap 500 Index compared with the previous December '25 quarter. (Note: Retail investors refer to resident individuals holding nominal share capital of up to Rs 2 lakh.)The move proved rewarding, with more than half of these companies delivering strong returns. Around 100 small-cap stocks rallied between 25% and 185% in just over three months, from the start of April to date. Among the biggest winners, 10 stocks skyrocketed 80% to 185%, while four emerged as multibaggers, more than doubling investors' wealth in a little over three months. (Data Source: ACE Equity) Over the last three months (from the beginning of April to date), the stock has surged 184%, rising from Rs 511 to Rs 1,449. Meanwhile, retail shareholding inched up to 13.87% in March 2026 from 13.85% in December 2025. Over the last three months, the stock has rallied 147%, climbing from Rs 182 to Rs 450. Retail shareholding increased to 33.06% in March 2026 from 31.28% in December 2025. Over the last three months, the stock has gained 122%, rising from Rs 38 to Rs 84. Retail shareholding edged up to 24.25% in March 2026 from 24.05% in December 2025. Over the last three months, the stock has rallied 121%, advancing from Rs 599 to Rs 1,325. Retail shareholding increased to 8.68% in March 2026 from 8.57% in December 2025. Over the last three months, the stock has surged 96%, climbing from Rs 366 to Rs 716. Retail shareholding rose to 19.03% in March 2026 from 18.81% in December 2025. Over the last three months, the stock has jumped 95%, rising from Rs 23 to Rs 44. Retail shareholding increased to 22.22% in March 2026 from 21.21% in December 2025. Over the last three months, the stock has gained 93%, moving up from Rs 928 to Rs 1,788. Retail shareholding climbed to 9.52% in March 2026 from 9.11% in December 2025. Over the last three months, the stock has rallied 89%, rising from Rs 189 to Rs 358. Retail shareholding increased marginally to 25.83% in March 2026 from 25.68% in December 2025. Over the last three months, the stock has advanced 89%, climbing from Rs 322 to Rs 608. Retail shareholding rose to 30.11% in March 2026 from 29.37% in December 2025. Over the last three months, the stock has gained 82%, rising from Rs 41 to Rs 75. Retail shareholding increased to 8.94% in March 2026 from 8.65% in December 2025. Over the last three months, the stock has rallied 81%, climbing from Rs 909 to Rs 1,649. Retail shareholding rose to 18.00% in March 2026 from 17.76% in December 2025.

Retail investors bet on these 10 small-cap stocks; they rally up to 185% in 3 months
Asia
The Economic Times

11 equity mutual funds deliver over 25% in 3 months. Do you own any?

Around 11 equity mutual funds delivered over 25% in three months. There were 302 funds in the said time period. Here is a detailed breakup (Source: ACE MF) Motilal Oswal Small Cap Fund, Helios Small Cap Fund, ITI Small Cap Fund delivered 29.06%, 27.82% and 27.53% returns respectively in the last three months. Quant Value Fund and Quant Small Cap Fund posted a return of 26.39% and 26.17% respectively in the said time period. Invesco India Smallcap Fund, Quant Focused Fund, and HSBC Small Cap Fund delivered 25.90%, 25.75% and 25.12% returns respectively in the said time period. Do not go by historical returns. Always choose funds based on your risk appetite, investment horizon and financial goals.

11 equity mutual funds deliver over 25% in 3 months. Do you own any?
North America
CNBC Finance

PGA Tour CEO Brian Rolapp unveils sweeping changes to professional golf

Golf fans are finally getting details on a new chapter for the PGA Tour that's designed to elevate competition and raise payouts for winners. PGA Tour CEO Brian Rolapp unveiled the new competitive model for professional golf's premier circuit ahead of the Travelers Championship taking place this week outside of Hartford, Connecticut. Rolapp has prioritized modernizing the Tour since he was appointed as CEO in June 2025 following a 22-year career at the NFL. The Tour's boards also approved Rolapp to succeed Jay Monahan as commissioner following Monahan's retirement at the end of the year, the Tour said Tuesday. Rolapp will retain his role as CEO. "We had a productive meeting yesterday where our boards approved the Future Competition Committee's recommendation to establish a new competitive model for the PGA Tour that will begin with the 2028 season," Rolapp announced Tuesday. Instead of one main tour schedule of events, the new format will feature two distinct series of tournaments: one, a premier track called the PGA Tour Championship Series and a second that offers a pathway toward those elevated events called the PGA Tour Challenger Series. The new format will be familiar to fans of other sports like soccer, where some leagues feature differentiated divisions that promote and retain the best performing teams, while relegating those who don't perform as well to lower circuits. In the press release, Rolapp called it a "new competitive model grounded in meritocracy, with clearer pathways, higher stakes and more consistency when the best players compete together." He added that the focus will now shift to finalizing details and preparing to implement the system for the 2028 season. Wyndham Clark, just off Sunday's US Open win, applauded the changes Tuesday, telling CNBC in an interview that the Tour is in "an amazing spot." "I think this two-track system is going to bring meritocracy and it's going to make it easier to follow the PGA Tour, and then match play should be a lot of fun to watch," he said. "I think the Tour has made an amazing push to get better and improve their product." The proposed two-track system will create a schedule that has roughly 23 to 24 events for the season, including The Players Championship, golf's major championships — The Masters Tournament, PGA Championship, US Open and The Open Championship — season-ending tournaments and any international team events that are contested each year, like the Ryder Cup or Presidents Cup. The season will run from around February through August of each year and will generally consist of tournaments with four 18-hole rounds where roughly half the field will advance to play the full event after a 36-hole cut. The Tour will also bring back playoff events that feature so called "match play," where winners are determined by a process of beating other players in head-to-head matchups, rather than by "medal play," which determines a winner by best aggregate score over four rounds of play.

PGA Tour CEO Brian Rolapp unveils sweeping changes to professional golf
Asia
The Hindu BusinessLine

ADB approves $230 million loan to modernise water supply and sanitation in Chennai

The Asian Development Bank (ADB) on Friday approved a $230 million loan to modernise and expand Chennai’s water supply and sanitation infrastructure, benefiting 4.5 million residents in the Greater Chennai area. The project will construct over 170 km of water supply pipes and sewer pipes, upgrade seven water pumping stations and 38 sewer pumping stations, and strengthen water utility assets and operations management through performance-based contracts, ADB said. Chennai will become the first Indian city to implement a comprehensive ring-main solution—a closed-loop system designed to maintain balanced water pressure and deliver water efficiently across service areas—improving reliability, equity, and resilience to natural hazards in its urban water supply system, the bank said. Despite being India’s fourth-largest city and a major industrial hub, Chennai’s water supply infrastructure has not kept pace with growth. ADB’s latest investment builds on earlier projects in the city to expand access to safe and equitable water and waste management services, in line with the Government of India’s flagship urban development interventions, such as the Atal Mission for Rejuvenation and Urban Transformation 2.0 and the Urban Challenge Fund, according to the bank. “ADB’s financing will improve access to safe and reliable water supply and better sanitation services across Chennai,” said ADB Country Director for India Mio Oka. “The project will also help strengthen the city’s resilience to climate change, improve public health and quality of life, and support a more efficient and financially sustainable urban water system.” ADB will help digitally transform water and sanitation services through real-time monitoring, data-driven decision-making, and improved customer responsiveness. The project will introduce advanced technologies to eliminate hazardous manual sewer inspections, make blockage detection faster and safer, enhance worker safety, and prepare distribution networks in at least two Greater Chennai zones for future investments, the bank said. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

ADB approves $230 million loan to modernise water supply and sanitation in Chennai
Asia
The Hindu BusinessLine

Farmer protests force Gujarat to switch to market-value for transmission projects

Facing mounting protests from farmers over land used for electricity transmission infrastructure, the Gujarat government on Friday overhauled its compensation policy by linking payouts for land occupied by transmission towers and power lines to the prevailing market value instead of government-notified benchmark rates. Until now, compensation was calculated at 200 per cent of the “Jantri” value—the Gujarat government’s notified minimum valuation of land used for property registration and stamp duty purposes—which farmers argued was significantly lower than actual market prices in many parts of the state. Under the revised policy, compensation for land occupied by transmission towers will instead be calculated at 200 per cent of the prevailing market value, a move expected to substantially increase payouts in several districts. The decision comes after months of protests by farmers in districts including Banaskantha, Patan, Mehsana, Sabarkantha, Aravalli and parts of Saurashtra, where landowners opposed the erection of high-voltage transmission towers, alleging inadequate compensation and damage to agricultural land. In a significant relief for farmers, the state has extended the revised compensation policy to ongoing transmission projects where compensation was assessed under the earlier framework but the projects are still under execution, allowing eligible landowners to avail of the enhanced compensation. The government has also expanded the area eligible for compensation. Earlier, payments were restricted to the actual footprint of the tower foundation. Going forward, an additional one metre on each side of the tower base will be included while calculating the compensable area. For instance, for a 765-kV transmission tower, the eligible area will increase from 625 square metres to 729 square metres. Another major change is the payment mechanism. Instead of disbursing compensation in three stages—40 per cent during foundation work, 40 per cent during tower erection and the remaining 20 per cent after stringing of transmission lines—the government will now pay the entire compensation upfront before work begins. To determine land values, the state will constitute a Market Rate Committee (MRC) comprising the district collector, representatives of affected farmers, authorised valuers nominated by landowners and representatives of transmission companies. The committee will determine the prevailing market value of land in a transparent manner. For the Right of Way (RoW) corridor under transmission lines, compensation will also be linked to the market value determined by the MRC. Farmers will receive compensation equivalent to 30% of the market value in rural areas, 45 per cent in municipal areas and 60% in metropolitan areas, replacing the earlier Jantri-linked formula. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

Farmer protests force Gujarat to switch to market-value for transmission projects