NEW DELHI: Tata Sons chairman N Chandrasekaran has asked over 30 CEOs and managing directors of group companies to brace for a tougher business environment, as the war in West Asia is disrupting supply chains, sources said.At a review meeting on the war’s implications on Thursday, Chandrasekaran told top executives that more than 10,000 Tata employees are based in the region, including those from Voltas, TCS, Indian Hotels, and Titan (including Damas), and outlined steps to facilitate their return, according to a person with direct knowledge.

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During the assessment, a common theme that emerged was that supply chain disruptions and rising commodity prices would weigh on demand, while pushing up operating costs, resulting in margin pressure, the sources said. For many of the companies, it would mean that production yield is likely to be less than capacity.“The chairman advised to be prepared for tougher business environment marked by demand slowdown, project delays, driven by supply chain disruptions and cost increases due to oil price, shortages, currency movements, logistics costs, among others,” the source said.Chandrasekaran recommended measures that need to be focused on conserving and managing cash carefully and judiciously. He also advised careful choosing of starttime for projects and “if necessary, have a relook at the timelines”. Top group executives were also informed about the need to enhance cyber security readiness and network resilience, run cost improvement programmes with clear targets. Moreover, he also stressed on the need to “take care of employees, including temporary employees”.“Further, we need to immediately address anxiety and stress-related issues of our employees and their families in the region.” Chandrasekaran said the group has assisted in enabling travel back home of employees and their families in transit in the UAE through Air India.He urged executives to be prepared for post-recovery scenario once conflict is over. “You must be in a state of readiness — be agile; do not lose momentum,” Chandrasekaran is understood to have told the top executives.

MUMBAI: Staging a spirited recovery, stock markets pared early losses to close higher on Thursday, sensex rising by 185 points and Nifty settling above 22,700 on strong value buying in IT and banking shares and a sharp rebound in the rupee.Rebounding more than 2,000 points from the day’s low, sensex finally settled higher by 185 points, or 0.3%, at 73,320. The index opened lower and tanked further by 1,588 points to hit a day’s low of 71,546 in the first half of the session. Strong value buying in IT bellwethers like HCL Tech and TCS, and banking giants HDFC Bank and ICICI Bank, helped the barometer recover from sharp losses, hitting a high of 73,569 in the pre-close session.On the NSE, the Nifty followed a similar trajectory and closed above 22,700 at 22,713, up by 34 points, or 0.2%. The index fell 497 points, or 2.2%, in early trade before recovering to hit a high of 22,782.A sharp rebound in the rupee after RBI stepped in with a slew of measures to restrict banks from onshore forward markets also helped improve investor sentiment.A total of 2,649 stocks advanced, while 1,589 declined and 149 remain unchanged on the BSE.“Indian equity markets opened on the back foot as Trump’s renewed threat to strike Iran ‘extremely hard’ swiftly erased the optimism built in the prior session, triggering broad-based selling across Asian markets,” said Vinod Nair, Head of Research, Geojit Investments.Crude oil spiked more than 7% after Trump’s speech, with Brent trading at %109 per barrel.

MUMBAI: The rupee recorded its strongest recovery in 13 years, rising 173 paise to close at 93.1 from Tuesday’s 94.83, after RBI tightened rules to curb speculative bets and forced a sharp unwinding of dollar positions.However, with a fresh round of US bombing in Iran post market hours, which resulted in global oil prices surging further, dealers are wary of a fresh wave of volatility when forex markets open next week.Thursday’s rebound followed a series of regulatory steps aimed at squeezing short positions and arbitrage trades. The central bank barred offshore non-deliverable forwards, restricted rebooking of cancelled foreign exchange contracts, and capped banks’ forex positions at $100 million, triggering heavy dollar sales in the domestic market.The measures lifted the currency while widening the gap between onshore and offshore markets, and pushed up hedging costs. RBI had taken similar measures in 2013 to stabilise the currency after a sharp fall.The rupee had been under pressure from a surge in oil prices driven by the West Asia conflict and global risk aversion, which widened the current account gap. The currency fell over 4% since Feb 28 before its recovery, and around 10% in FY26, making it among the weakest in the region.Rupee had breached the 95 level earlier in the week and closed at 94.70 before hitting a low of 94.84. Markets are closed on April 3 on account of a public holiday for Good Friday.Dealers said that the no deliverable forward market, which functions with both parties placing bets in foreign currency on​ rupee’s movement direction, has emerged to be larger than the spot market. With many players betting on the rupee weakening in the offshore markets, banks have been able to arbitrage by buying dollars in the onshore market and selling them offshore. These trades have added to the pressure on the rupee.RBI curbs have reduced market liquidity, widened bid ask spreads, and fragmented trading across segments. A fallout of the curbs would be reduced interest in Indian bonds as the cost of hedging them have gone up.

Closes 173p Up At 93.1 After RBI Reins In Speculation, $ Positions

Dealers said that the rupee will continue to receive support with banks unwinding open positions on dollar ahead of the Apr 10 deadline, with the currency seen trading in a range of around 92.20 to 93.20.

Kolkata: Sunrisers Hyderabad’s Abhishek Sharma (PTI Photo)

Abhishek Sharma found himself in the spotlight for the wrong reason despite Sunrisers Hyderabad producing a dominant performance against Kolkata Knight Riders at Eden Gardens. The all-rounder has been fined 25 per cent of his match fees and handed one demerit point for breaching the IPL Code of Conduct during Thursday’s clash. Abhishek admitted to the Level 1 offence under Article 2.3 and accepted the sanction imposed by the Match Referee. As per IPL rules, decisions on Level 1 breaches are final and binding. The disciplinary action came on a night when SRH were otherwise clinical across departments. Heinrich Klaasen anchored the innings with a composed 52 off 35 balls, guiding his side to a formidable 226/8 after being put in to bat. SRH’s innings was built on an explosive start from Travis Head and Abhishek, who stitched together an 82-run opening stand in just 34 balls. Abhishek himself looked in fine touch, smashing 48 off 21 deliveries and taking on the KKR spinners with intent. However, a middle-order wobble saw SRH briefly lose momentum before Klaasen and Nitish Kumar Reddy steadied things with a crucial 82-run partnership, ensuring the total remained well beyond KKR’s reach. In reply, KKR’s much-talked-about batting lineup failed to click. Ajinkya Rahane struggled again at the top, while Angkrish Raghuvanshi’s fluent 52 lacked support from the other end. A series of poor partnerships and costly run-outs derailed the chase as KKR were bowled out for 161 in just 16 overs. SRH’s bowling unit shared the spoils, with Jaydev Unadkat, Ehsan Malinga and Nitish Kumar Reddy making key breakthroughs. Despite Blessing Muzarabani picking up four wickets, KKR never recovered from their chaotic middle phase. While SRH celebrated a convincing 65-run victory to get back to winning ways, Abhishek’s fine adds a small blemish to an otherwise impressive outing for the young all-rounder.