A sharp rally in Indian stock markets since mid-March—driven by foreign inflows and easing global trade tensions—has propelled the net worth of several top billionaires. Mukesh Ambani, chairman of Reliance Industries, has re-entered the $100-billion club, gaining nearly $20 billion in under two months.
According to the Forbes’ Real-Time Billionaires rankings, Mukesh Ambani, chairman of Reliance Industries Ltd, has a net worth of $106.1 billion. He saw significant gains from the recent market surge, with his wealth increasing by $20 billion — rising from around $81 billion in early March to over $100 billion.
Gautam Adani, chairman of the Adani Group and India’s second-richest person, has also benefited from the rally. His net worth reached $61.8 billion. However, he remains 57 per cent below his all-time high of $120.8 billion, recorded on June 3, 2024.
The Reserve Bank launched three key surveys, including inflation expectations, to gather useful inputs for monetary policy decisions.
The RBI normally holds six bi-monthly monetary policy reviews in a financial year. The last meeting was held earlier this month, and the next meeting of the Monetary Policy Committee is scheduled for June 4-6.
The May round of the Inflation Expectations Survey of Households (IESH) aims at capturing subjective assessments on price movements and inflation, based on their individual consumption baskets, across 19 cities.
Indian Oil Corp has signed a five-year import deal with trader Trafigura to buy 2.5 million metric tons of liquefied natural gas (LNG) in a $1.3-$1.4 billion deal, Chairman A S Sahney said.
Supplies under the deal would begin from the second half of this year, he said, adding that the price of the LNG is linked to the US Henry Hub benchmark.
Trafigura will supply 2.5 million tonnes of LNG, equivalent to about 27 cargoes under the deal, he said.
India is the world's fourth-largest LNG importer, shipping in 26.58 million metric tons of the fuel last year, according to Kpler data.
The US is India's second-biggest supplier, but the two sides are looking to ramp up volumes for India's energy-hungry economy, one of the fastest growing in the world.
LNG importer GAIL India had also recently issued a tender seeking a stake in an LNG project in the US, along with a 15-year import deal.
The Reserve Bank of India (RBI) has approved the formation of a temporary leadership team at IndusInd Bank, following the abrupt resignation of its Managing Director and Chief Executive Officer, Sumant Kathpalia.
British International Investment (BII), the UK government-backed development finance institution, has appointed a former partner at impact investment firm Omidyar Network as its India head.
The appointment of Shilpa Kumar as the managing director and head of India comes a year after Manav Bansal, the last executive to hold the position, stepped down.
Kumar started in her new role. She directly reports to Srini Nagarajan, MD and head of Asia, who was overseeing the development finance body’s India operations over the last year since Bansal stepped down.
With over 30 years of experience, Kumar was a partner at Omidyar Network in her last stint.
The 2025 edition of International Jazz Day, organized by UNESCO and the Herbie Hancock Institute of Jazz, is being celebrated on 30 April in more than 190 countries. The Global Host for this year's celebration is the city of Abu Dhabi, United Arab Emirates.