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DK Shivakumar, Siddaramaiah meet Congress high command over Karnataka cabinet

DK Shivakumar, Siddaramaiah meet Congress high command over Karnataka cabinet

Karnataka's Next Game Of Thrones: Kharge Vs Siddaramaiah Scions In Race For Deputy CM Post

Reports suggest the Congress high command is weighing multiple Deputy CM appointments in Karnataka, though no final decision has been announced yet.

Anant Raj shares rally 5% after signing Rs 25,000 crore Haryana Data Centre MoU

Shares of Anant Raj surged as much as 4.6% to Rs 563.25 in Tuesday's trade after the company announced a landmark partnership with the Government of Haryana to accelerate the state's digital infrastructure buildout.The real estate and infrastructure developer has signed a Memorandum of Understanding (MoU) with the Haryana Enterprises Promotion Centre (HEPC), marking a significant step in its ambitions to expand its data centre and cloud services business.The agreement was formalized on June 1, 2026, during the launch of the "Make in Haryana Policy & Other Sectoral Policies" event, presided over by Haryana Chief Minister Nayab Singh Saini.Rs 25,000 crore investment planUnder the MoU, Anant Raj intends to invest around Rs 25,000 crore in building data centres and cloud infrastructure across Haryana. The move highlights the company's increasing emphasis on digital infrastructure as demand continues to grow for artificial intelligence (AI), cloud computing, and data storage solutions.The partnership framework involves several key government departments and agencies, including:Haryana Enterprises Promotion Centre (HEPC)Department of Information Technology, Electronics & CommunicationHaryana State Electronics Development CorporationCitizen Resources Information DepartmentDepartment of Industries & CommerceThe agreement is designed to support Anant Raj's expansion of its Digital Infrastructure Business, encompassing both data centre operations and cloud services. The Haryana government, through HEPC, has committed to providing facilitation support and ease-of-doing-business assistance to help fast-track the project.The company said the arrangement aims to foster long-term cooperation between the state government and Anant Raj, positioning Haryana as a major hub for next-generation digital infrastructure investments.Anant Raj clarified that the MoU does not involve any shareholding arrangement, special rights, equity issuance, or related-party transaction. The agreement is focused solely on enabling investment and operational expansion in the state.Share price performance and technical indicatorsOver the past three years, the stock has delivered strong returns, rallying nearly 254%. The company currently commands a market capitalization of approximately Rs 19,406 crore.From a technical perspective, the 14-day Relative Strength Index (RSI) stands at 61. An RSI reading below 30 typically indicates oversold conditions, while a reading above 70 suggests the stock may be overbought.The stock also exhibits strong bullish momentum, trading above all eight of its key Simple Moving Averages (SMAs), signaling a positive technical trend.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Tharoor questions full rendition of Vande Mataram, calls it 'unnecessary imposition'

Congress MP Shashi Tharoor questioned the mandatory full recitation of Vande Mataram at every public event, deeming it an "unnecessary imposition." He emphasized that while the national song commands respect, forcing its complete rendition twice during short programs is difficult to justify.

Norway Chess: R Praggnanandhaa, Divya Deshmukh back to winning ways

Round 7 of Norway Chess saw Indian stars bounce back after a difficult previous round. R Praggnanandhaa defeated Alireza Firouzja in a commanding classical game, while Divya Deshmukh beat Koneru Humpy in an Armageddon tie-break to remain second in the women’s standings. Meanwhile, Magnus Carlsen and D Gukesh won their Armageddon games but remained at the bottom of the open-section leaderboard.

Air Marshal Tarun Chaudhry assumes charge as chief of Central Air Command

Karnataka Cyber Command cracks down on illegal betting network, blocks 8,750 betting URLs

Air Marshal Tarun Chaudhry assumes charge as Chief of Central Air Command

The highly accomplished officer has extensive experience in operational, staff, and diplomatic assignments

India's military theatre command reform inching towards decisive moment: Shishir Gupta explains | Point Blank

In theatre commands and defence production, window for incrementalism is closing; Gen Subramanian’s tenure as CDS may determine if a leap is made.

NMDC Steel shares jump 18% to record high after returning to profit in Q4, FY26

Shares of NMDC Steel rallied as much as 17.92% to an intraday high of Rs 52.62 during Monday's trading session after the company reported a sharp turnaround in its fourth-quarter and FY26 earnings. The stock hit a fresh 52-week high as investors cheered its return to profitability and strong revenue growth.NMDC Steel returned to profitability in the March quarter, posting a net profit of Rs 391.91 crore compared with a net loss of Rs 473 crore in the corresponding quarter last year. The company had also reported a loss of Rs 244 crore in the December 2025 quarter, making the latest earnings performance a significant turnaround.Revenue from operations jumped 37% year-on-year to Rs 3,879 crore in Q4 FY26 from Rs 2,838 crore in the same quarter last year. On a sequential basis, revenue rose sharply from Rs 3,007 crore reported in the previous quarter.The company also reported its first profitable full-year performance, posting a net profit of Rs 59 crore in FY26 compared with a substantial net loss of Rs 2,374 crore in FY25.Annual revenue from operations surged nearly 60% to Rs 13,641.81 crore, compared with Rs 8,503 crore in the previous financial year, highlighting strong growth in production and sales volumes.Further underlining the improvement in earnings quality, earnings per share (EPS) turned positive at Rs 1.34 for FY26.Valuation and Market PositionFollowing the sharp rally, NMDC Steel commands a market capitalization of approximately Rs 13,076 crore. The stock continues to trade at a Price-to-Sales (P/S) ratio of 1.15 and a Price-to-Book (P/B) ratio of 1.0.Institutional Investors Increase ExposureForeign Institutional Investors (FIIs) marginally increased their stake from 4.81% to 4.85% during the March 2026 quarter. Meanwhile, mutual fund holdings rose from 0.71% to 0.83%, indicating growing confidence among domestic institutional investors.Technical Indicators Signal StrengthFrom a technical perspective, the stock remains firmly in bullish territory. NMDC Steel is currently trading above all 8 of its key simple moving averages (SMAs), a sign of strong upward momentum.The stock's 14-day Relative Strength Index (RSI) stands at 56.9. An RSI below 30 is generally considered oversold, while a reading above 70 indicates overbought conditions. The current RSI suggests the stock has room to move higher without entering overheated territory.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Siddaramaiah's Son Among Cabinet Aspirants As Karnataka Sees Change Of Guard

Yathindra Siddaramaiah said the party high command has assured him of a ministerial berth

No proposal yet on ministeries, Deputy CMs in DK Shivakumar's govt: Mallikarjun Kharge

DK Shivakumar is set to take oath as CM on June 3, days after Siddaramaiah stepped down from the post at the instance of the Congress high command.

DK Shivakumar and Siddaramaiah head to Delhi to finalise new Karnataka team

Karnataka Congress is preparing its new government team. DK Shivakumar, the Chief Minister-elect, will meet the high command in Delhi to finalize the first set of ministers. A new state party chief will also be appointed. The oath-taking ceremony is scheduled for Wednesday. Cabinet formation will occur in two phases.

Iranian President Masoud Pezeshkian submits resignation to Supreme Leader, cites takeover by IRGC commanders: Report

Iranian President Masoud Pezeshkian has reportedly resigned from his post as tensions have escalated between Tehran's government and its military-security institutions. The development comes nearly a month after Trump pointed to the deep divide in the country's leadership.

RCB's new era, Kohli's old magic: Defending champions outclass GT in IPL final

Virat Kohli produced a masterful unbeaten 75 after Royal Challengers Bengaluru's (RCB) pace attack dismantled Gujarat Titans at the Narendra Modi Stadium in Ahmedabad on Sunday. Rajat Patidar's men secured a second successive IPL title with a commanding five-wicket victory. Rajat Patidar also became only the third captain to have won back-to-back IPL titles after MS Dhoni and Rohit Sharma.

'High command assured me': Siddaramaiah's son on cabinet berth prospects in DKS govt

'I'm Hopeful': Siddaramaiah's Son Says Congress High Command Assured Ministerial Berth For Him

Yathindra said nothing had been finalised yet about his inclusion in the new Karnataka cabinet and that he remained hopeful about his prospects.

Ahead of swearing-in, DK Shivakumar to meet Congress high command on cabinet formation

Discipline, physical fitness essential for soldiers, says MLIRC commandant

Maratha Light Infantry Regimental Centre in Belagavi witnesses ceremonial attestation parade with full military traditions

India-Oman trade deal goes live June 1

The Comprehensive Economic Partnership Agreement (CEPA) between India and Oman is set to come into force on June 1, marking a significant milestone in bilateral economic relations. Both nations will formally announce the decision on Monday.This marks the fifth free trade agreement (FTA) implemented under the Modi government since 2014. It follows trade pacts rolled out with Mauritius (April 2021), the UAE (May 2022), Australia (December 2022), and the European Free Trade Association (EFTA—comprising Switzerland, Iceland, Liechtenstein, and Norway in October 2025). India has also signed deals with the UK (July 2025) and New Zealand (April 2026), alongside concluding trade talks with the 27-nation European Union (EU) on January 27 this year.CEPA vs FTAModern trade pacts typically span around 20 chapters. These encompass comprehensive regulations across trade in goods, trade in services, investment, intellectual property rights, customs procedures, and dispute settlement mechanisms.Similar bilateral frameworks are also designated as Comprehensive Economic Cooperation Agreements (CECA), Comprehensive Economic Trade Agreements (CETA), or Economic Cooperation and Trade Agreements (ECTA).Also read: India-Oman CEPA to strengthen energy security, trade resilience and export growthIndia-Oman tradeBilateral trade between the two nations reached USD 11.18 billion during 2025-26, up from USD 10.61 billion in 2024-25. India’s exports stood at USD 4.02 billion, while imports from Oman were valued at USD 7.16 billion.In the services domain, India's exports to Oman expanded from USD 397 million in 2020 to USD 665 million in 2024, driven primarily by telecommunications, computer and information, transport, and travel sectors. Conversely, services imports from Oman grew from USD 101 million to USD 197.7 million over the same period, led by transport, travel, telecom, and other business services.What does India gain? The deal unlocks 100% duty-free market access for Indian exports to Oman, covering 98.08% of Oman’s tariff lines, which represents 99.38% of the trade value (based on the 2022-23 average).Immediate Concessions: All zero-duty access comes into effect from "Day One" of the agreement. Currently, only 15.33% of India’s export value (11.34% of tariff lines) enters Oman duty-free under the Most Favoured Nation (MFN) regime.Price Competitiveness: The pact eliminates the current 5% import duty on Indian goods worth USD 3.64 billion.Growth Drivers: Key sectors poised for immediate advantages include textiles, agricultural products, transport equipment, precision instruments, processed food, and gems & jewellery.New Horizons: The agreement unlocks fresh export windows for Indian minerals, chemicals, base metals, machinery, plastic, rubber, automobiles, clocks, instruments, glass, ceramics, marble, and paper.India-Oman CEPA: Key sectoral gainsOman will grant immediate zero-duty access to crucial Indian industrial segments, including:Iron and steelElectrical and industrial machineryMarine products and copper goodsFurthermore, the removal of the 5% tariff is set to directly bolster the competitiveness of Indian vehicles in the Omani market, while securing binding zero-duty access for key finished medicines and vaccines.India protects sensitive sectorsTo insulate local industries and farming communities, India has placed 2,789 tariff lines on its exclusion list.Excluded Categories: Key domestic sectors shielded from tariff concessions include transport equipment, major chemicals, cereals, fruits, vegetables, spices, coffee, tea, and products of animal origin.Manufacturing Safeguards: High-value manufacturing chains including rubber, leather, textiles, footwear, petroleum oils, and mineral-based products remain protected.Agricultural Shielding: Strategic segments such as dairy products, meat, oilseeds, vegetable oils, sugar, and food-processing residues are entirely kept out of the liberalisation purview.Service sector stands to gainWith Oman’s total global services imports standing at USD 12.52 billion in 2024, India’s current share of 5.31% presents significant room for expansion.Oman has made robust commitments regarding the temporary entry and stay of Indian service professionals. Notably, the Intra-Corporate Transferees (ICT) ceiling has been raised from 20% to 50%, allowing Indian firms to deploy a higher volume of managerial and specialist personnel.Additionally, for the first time in any FTA, Oman has locked in specific commitments for professional service providers, benefitting Indian talent in IT, accounting, engineering, medical, education, construction, and consulting fields.Gains for India's agri sectorIndian agricultural exports such as natural honey, potatoes, cashews, boneless meat, and bakery items will secure immediate duty-free entry into Oman.Oman has agreed to dismantle tariffs—which currently range from 5% to 100%—on an array of items. These include cheese, curd, milk, cream, frozen fish, butter, meat, yoghurt, pastries, cakes, chocolate, sugar confectionery, mineral water, alongside animal and vegetable fats and oils.In return, Indian consumers will benefit from cheaper imports of Omani dates, with India granting zero-duty access for up to 2,000 tonnes of the commodity annually. New Delhi is also extending tariff concessions to Oman’s traditional products: Gum Arabica (utilised in food, pharmaceuticals, and cosmetics) and Frankincense (utilised in the incense and perfume sectors).Oman to benefit from tariff concessionsIndia is extending tariff concessions across 77.79% of its total tariff lines (equivalent to 12,556 lines), which encapsulates 94.81% of India’s total imports from Oman by value.For items that hold significant export value for Oman but remain sensitive for domestic industries in India—such as dates, marbles, and specific petrochemical products—liberalisation will be managed via a controlled Tariff-Rate Quota (TRQ) mechanism.India strengthening presence in Middle EastThe Oman CEPA serves as another pillar in India's deepening trade ties with the Gulf Cooperation Council (GCC), following its May 2022 pact with the UAE. New Delhi is set to commence trade talks with Qatar soon, and has already inked terms of reference (TOR) to initiate broader trade pact negotiations with the entire GCC bloc (comprising Saudi Arabia, UAE, Qatar, Kuwait, Oman, and Bahrain).Despite its size, Oman commands vast geopolitical importance as it borders the Strait of Hormuz, a critical maritime chokepoint heavily relied upon by Asian enterprises for oil trade. The nation serves as a strategic gateway for Indian goods and services into the broader Middle Eastern and African markets.Currently, nearly 7 lakh Indian nationals reside in Oman, sending home approximately USD 2 billion in annual remittances. Over 6,000 Indian establishments operate within Oman, and India has clocked USD 615.54 million in foreign direct investment (FDI) from Oman between April 2000 and September 2025. Notably, this CEPA is the first bilateral trade pact Oman has signed with any nation since its agreement with the United States in 2006, cementing its position as India’s third-largest export market within the GCC.