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FIIs turn net buyers of Indian stocks, first time in 4 months

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FIIs turn net buyers of Indian stocks, first time in 4 months


Foreign institutional investors (FII) turned net buyers for the first time in four months, investing ₹4,223 crore in Indian stocks in April 2025.

FIIs were net sellers in seven months in fiscal 2025, and the outflows increased significantly after October 2024, when the foreign investors sold equity worth almost ₹1 lakh crore.

The data comes amid volatility in global markets after U.S. President Donald Trump’s tariff announcement. Foreign funds bought debt securities and sold equities in March 2025 and this trend reversed in April. The increase in foreign inflows in equities assumes significance following the 90-day pause on U.S. tariffs until July 9. U.S. Treasury Secretary Scott Bessent had said recently that India may be among the first few nations to seal a trade deal with the U.S.

The optimism of foreign funds was “mainly because of the dollar index, which was around some 105, 104 levels, going down to 100 or 99, and our currency also relatively did much better,” said Shrikanth Chouhan, head of research at Kotak Securities. A large section of these foreign investment inflows were into banking, financial services and insurance because of the RBI’s accommodative stance and reducing exposure to IT in fear of U.S. recession hitting their earnings.

Rupee’s best gain

Meanwhile, the rupee on Wednesday witnessed its most significant single-day appreciation since November 2022 by gaining 42 paisa against the U.S. dollar.

“This surge can be attributed to month-end adjustments and a technical sell-off in the U.S. dollar leading up to the holiday. Despite prevailing geopolitical tensions, trader caution was somewhat offset by the Reserve Bank of India’s apparent absence from the market and the strengthening of other Asian currencies, providing support to the rupee,” said Dilip Parmar – Senior Research Analyst, HDFC Securities.

“Looking ahead in the near term, the spot U.S. Dollar/Indian Rupee pair finds support around the 84.10 level and faces resistance near 85.50. The current bias appears to favour further strengthening of the rupee,” he added..



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Is natural hydrogen the fuel of the future? | Explained

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Is natural hydrogen the fuel of the future? | Explained


The story so far:

Hydrogen is seen as the fuel of the future — one that would decarbonise world economy and stop global warming. If harvested in a sustainable manner, natural hydrogen may provide a clean and potentially low-cost fuel to satisfy the world’s increasing energy needs with a considerable reduction in carbon emissions as well. And it’s most likely abundant in India, too.

How is natural hydrogen extracted?

Right now, hydrogen is manufactured mostly from natural gas through an energy-intensive and polluting process. Green hydrogen made with renewable electricity, on the other hand, is still prohibitively expensive and would require vast amounts of wind and solar power to work out at scale.

Natural hydrogen occurs as a free gas in geology, produced by processes such as serpentinisation (the interaction of water and iron-containing rocks), radiolysis of water by radioactive rocks, and from organic matter at depth.

What is the history of its extraction?

In the summer of 1987, drillers arrived at Mamadou’s village of Bourakébougou, Mali, to bore for water. After drilling 108m at one site, with no water to be found, one of the crew lit a cigarette — and a jet of flame shot into his face. The flame turned into a huge fire that shone crystal blue during the daytime with no sign of smoke around it. At night, it shone a glowing gold that lit its surroundings. It took weeks for the crew to extinguish the blaze and cap the well.

This unexpected event led the villagers to avoid the site until 2007 when Aliou Diallo, a successful Malian businessperson, politician, and chairperson of Petroma, an oil and gas firm, purchased the rights to prospect in the area around Bourakébougou. In 2012, he hired Chapman Petroleum to figure out what was emanating from the borehole. Protected from the 50°C sun in a mobile laboratory, a team of engineers found that the gas was 98% hydrogen. Hydrogen is rarely recovered in oil operations and was not thought to exist in large reserves within the earth’s crust, until then.

While the presence of naturally occurring hydrogen has been known for decades, with the discovery of its presence in gas seeps, volcanic outgassing, and even mine workings being well documented decades ago, for many years, it was viewed as a geological curiosity. Majority of the scientific opinion at the time proposed that hydrogen’s small size and extreme reactivity would hinder the formation of substantial underground deposits.

Now, geological environments favourable to natural hydrogen generation and accumulation are being recognised worldwide. Active mountain ranges with tectonic activity, such as the Pyrenees, Alps, and Himalayas, are also being considered as areas for geological hydrogen production. The fact that helium co-exists with hydrogen in a few reserves points towards some geological processes, such as radiolysis, playing a role in its generation.

The presence of hydrogen in coal mines points towards generation from underlying organic matter. What was previously a specialist field of geological study has therefore become a growing field with enormous implications for the future of energy.

What about current reserves?

Although the total size of worldwide natural hydrogen reserves is still poorly known because of a lack of concentrated exploration, recent discoveries and current research indicate considerable potential. In contrast to conventional hydrocarbon exploration, dedicated frameworks for natural hydrogen exploration are still evolving.

In the Indian context, natural hydrogen potential is mostly untapped but found to be promising because of the existence of favourable geological structures like hard rock formations of diverse ultramafic/mafic and basaltic assemblages, Andaman and Himalayan ophiolite complexes, greenstone volcanic-sedimentary sequences in cratons (Dharwar, Singhbhum), sedimentary basis (for example, in Vindhyan, Cuddapah, Gondwana and Chhattisgarh), basement rocks with fractures, and areas where active hydrothermal systems as represented by hot springs exist.

Recent finds elsewhere in the world indicate the scale of these resources. Hundreds of hydrogen seeps have been catalogued globally in various countries, including Australia (Eyre Peninsula and Kangaroo Island), the United States (Kansas, Nebraska), Spain, France, Albania, Colombia, South Korea, and Canada. There could be sufficient natural hydrogen to supply the growing world demand for thousands of years, based on a model run by the U.S. Geological Survey (USGS) that was unveiled in October 2022 at a Geological Society of America meeting.

Close on the heels of the USGS model, scientists, venturing into abandoned mines in France’s Lorraine region chanced upon naturally occurring hydrogen in May 2023. Further excavation in March 2025 in the adjacent Moselle region yielded more reserves. Together, the deposits are estimated to be about 92 million tonnes —worth about $92 billion and about half of the current global hydrogen production.

While it’s difficult to project with certainty just how much hydrogen is available in geologic stores, the best estimate is on the order of tens of trillions of metric tonnes. If even just 2% of these reserves are commercially exploitable, they would provide about twice as much energy as all the earth’s provable natural gas reserves —enough to meet projected hydrogen demand (500 million tonnes per year) for around two hundred years. However, experts note that it is still unclear how much of that potential can be tapped economically, especially if deposits are too scattered.

How has industry reacted?

The promise of so much renewable fuel sitting undiscovered beneath the surface has sparked a veritable gold rush. By the end of 2023, 40 companies, including start-ups, were searching for deposits of natural hydrogen around the world, up from just 10 in 2020, according to research firm Rystad Energy.

They’re hunting for natural hydrogen in countries such as Australia, the U.S., Spain, France, Albania, Colombia, South Korea and Canada. Producers claim they can extract the fuel for about $1/kg, or even less — much lower than the production cost for green or even natural gas-based hydrogen.

The American Association of Petroleum Geologists have formed its first natural hydrogen committee, and USGS began its first effort to identify promising hydrogen production zones in the United States.

In the U.S., a start-up called Koloma raised $245 million of venture funding last year to search for and extract geologic hydrogen, attracting investors including Amazon’s climate fund and Bill Gates’ Breakthrough Energy Ventures, which is also investing in other natural hydrogen companies, such as Mantle 8 in Europe. Even conventional energy and mining companies are in on the rush — both BP and Rio Tinto recently invested in U.K.-based start-up Snowfox Discovery.

Kalyan Mangalapalli is an expert in Energy and Emerging Technologies and serves as a member of the International Advisory Board of the Indian Institute of Petroleum Energy, Visakhapatnam. This is the first of a two part series on naturally occurring hydrogen reserves.



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Ather IPO subscribed 1.4 times – Times of India

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Ather IPO subscribed 1.4 times – Times of India


BENGALURU: Electric scooter maker Ather Energy closed its Rs 2,981-crore initial public offering (IPO) with a total subscription of 1.4times on Wednesday. This capped a three-day bidding window that saw strong interest from retail and institutional investors.
The issue marked the first listing of the 2025-26 and the first major tech-led consumer IPO since 2023-24, testing investor sentiment, amid global geopolitical and market volatility.
Retail investors led the response, subscribing to their portion 1.8 times, followed by qualified institutional buyers at 1.7 times. The employee quota was oversubscribed 5.4 times.





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Govt notifies ITR forms; individuals with LTCG up to ₹1.25 lakh can file ITR 1, 4

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Govt notifies ITR forms; individuals with LTCG up to ₹1.25 lakh can file ITR 1, 4


Image used for representative purpose. File
| Photo Credit: The Hindu

The government has notified Income Tax Return (ITR) forms 1 and 4 for Assessment Year (AY) 2025-26, simplifying the filing process for individuals earning salary or presumptive income who have long-term capital gains (LTCG) up to ₹1.25 lakh from listed equities. Previously required to file the more complex ITR-2, these taxpayers can now use the simpler ITR-1 (Sahaj) and ITR-4 (Sugam) forms, respectively.

This change addresses a specific inconvenience highlighted by tax experts. Sandeep Jhunjhunwala, Tax Partner at Nangia Andersen LLP, explained that previously, “salaried individuals having income under the head capital gains were required to file form ITR-2 even where the capital gains were exempt by virtue of the threshold limit prescribed under Section 112A, resulting in elaborate disclosure requirements.”

The new ITR-1 and ITR-4 forms for AY 2025-26 incorporate a section for reporting LTCG exempt under Section 112A up to the ₹1.25 lakh limit. According to the Income Tax law referenced in the notification context, LTCG up to ₹1.25 lakh per annum from the sale of listed shares and mutual funds are exempt, with gains exceeding this threshold subject to a 12.5 per cent tax.

However, Mr. Jhunjhunwala clarified that salaried individuals must still use Form ITR-2 if their LTCG under Section 112A exceeds ₹1.25 lakh, if they have other types of LTCG or short-term capital gains, or if they have capital losses to carry forward or bring forward. A similar simplification for reporting exempt LTCG (up to ₹1.25 lakh under Section 112A) has been incorporated into the new ITR-4 form for taxpayers using the presumptive taxation scheme.

Experts lauded the simplification. EY India Tax Partner Samir Kanabar stated that allowing those with minimal LTCG to use ITR-1 or ITR-4 “reduces the burden of navigating more complex forms.” He added, “This move reflects a clear shift towards enhancing taxpayer services… [it] is expected to encourage greater voluntary compliance, reduce filing-related stress, and make the system more user-friendly for small taxpayers.” AKM Global Partner-Tax Sandeep Sehgal echoed this, noting the change “streamlines the tax filing process, making it more accessible and less burdensome… thereby encouraging timely and accurate compliance”.

ITR Form 1 (Sahaj) and ITR Form 4 (Sugam) cater to small and medium taxpayers with total annual income up to ₹50 lakh. Sahaj is for resident individuals with income from salary, one house property, other sources (like interest), and agricultural income up to ₹5,000. Sugam is for individuals, Hindu Undivided Families (HUFs), and firms (excluding LLPs) with income from business and profession under the presumptive scheme. ITR-2 is filed by individuals and HUFs without business or profession income.

Beyond the LTCG change, the government has introduced other modifications. The forms now feature a drop-down menu in the utility for selecting deductions claimed under sections like 80C and 80GG. Additionally, assessees must furnish section-wise details regarding Tax Deducted at Source (TDS) deductions within the ITR.

Consistent with last year, ITR-1 continues to seek details on expenditures exceeding ₹2 lakh on foreign travel and over ₹1 lakh on electricity consumption during the previous year.

Regarding the timeline, the ITR forms are typically notified earlier, around February or March. The delay this year was attributed to Revenue Department officials being preoccupied with the new Income Tax Bill introduced in Parliament in February. Taxpayers can begin filing their returns for income earned in the 2024-25 financial year once the I-T department makes the filing utility available. The deadline for individuals not requiring an audit remains July 31.



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