Market News Today

RCF Kapurthala produced its first 16-car Vande Bharat rake, joining ICF Chennai in manufacturing India's flagship semi-high-speed trains. This marks a significant leap in railway technology, with 97 Vande Bharat trains made since 2018.

The Indian structural steel market is witnessing a strong rally, with [MS Beam and Channel prices] trending toward ₹61,000/MT. Driven by a ₹12.2 lakh crore government capex push and supply disruptions in the LNG-reliant secondary sector, the market remains undersupplied. Short-term expectations are bullish, as domestic producers leverage high infrastructure demand and restricted imports to maintain firm pricing.

Polavaram Hydro Electric Project works are accelerating, targeting 3 of 12 units (80 MW each) by July 2027, and full completion by January 2028. The project, featuring India's largest Kaplan turbines, aims for 2,500 MU annual energy, generating ₹1,145 crore revenue.

West Asia conflict delays GE engine supply for Tejas Mk1A, impacting HAL's production. Only 6 of 12 planned engines delivered, pushing back IAF timelines. Penalties invoked, highlighting dependence on foreign suppliers.

The Indian zinc market is currently navigating a period of constructive consolidation. While global macro-sentiments provide a neutral backdrop, domestic consumption remains high due to aggressive infrastructure and automotive growth. With the government’s continued focus on long-term structural projects, the demand for galvanized steel remains a significant tailwind, keeping refined zinc premiums stable across major Indian industrial hubs.

The power sector led FY2026 rating upgrades, with its credit ratio rising to 5.2 from 3.4 (FY2025), driven by strong project execution, stable operations, and financial strengthening. Overall credit ratio hit 3.1, with low 0.4% default rates, despite geopolitical risks.

GVMC plans free left turns at major Visakhapatnam junctions, including Adarsh Nagar, to ease traffic congestion. Officials are directed to prepare plans and coordinate with NHAI for improved vehicular and pedestrian movement.

Karnataka now ranks second in India for EV charging networks, boasting 2,039 operational stations. This significant growth, including 1,034 additions in 2024-25, places it behind only Uttar Pradesh in national rankings.

The Mumbai-Ahmedabad Bullet Train project progresses: 343 km viaduct, 434 km pier work, 17 river bridges, and 5 km of 21 km tunnel excavated. Track, electrification, and station works are also advancing steadily.

Anti-SIR protests over electoral roll deletions blocked NH-12, NH-27, and state highways across West Bengal. Protesters burned tyres, attacked police, and gheraoed 7 judicial officers, causing widespread disruption ahead of April 23 voting.