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OMCs losing ₹700 per LPG cylinder despite latest price hike, says Centre
Centre says OMCs lose ₹700 on every LPG cylinder despite the latest hike, while cooking gas remains cheaper in India than in Pakistan and Bangladesh.
🇮🇳 인도 · "CHEAP" · 총 26건
필터 보기현재 지수
50.0
0 = 부정 우세
50 = 중립
100 = 긍정 우세
최근 7일 기준 5,833건을 분석한 결과, 뉴스 심리지수는 50.0(균형)입니다. 긍정 0건(0.0%)·중립 5,833건(100.0%)·부정 0건(0.0%)이며, 중립 비중이 뚜렷하게 높습니다. 성향 지수는 종합 0.0(중도 균형)입니다.
Centre says OMCs lose ₹700 on every LPG cylinder despite the latest hike, while cooking gas remains cheaper in India than in Pakistan and Bangladesh.
The petroleum ministry also said a beneficiary of the PMUY effectively pays ₹642 for a 14.2 kg LPG cylinder, while the general consumer in Delhi pays ₹942.
A wave of optimism over South Korean stocks is giving way to growing caution, as some investors hedge positions and pare back crowded trades on concerns that the rally has run too hot, too fast.Hedge fund Golden Horse Fund Management has trimmed exposure and added derivative protection, while M&G Investments has cut memory and foundry holdings to broaden out down the AI supply chain. A Bloomberg Intelligence analysis of options on the iShares MSCI South Korea ETF shows investors seeking protection against a decline. The fund tumbled 14% Friday in the US.The moves highlight the challenge facing global money managers. While investors remain upbeat about Samsung Electronics Co. and SK Hynix Inc., the two chip giants that powered Kospi’s more than 90% rise this year, many are becoming pickier about where to put new money and keeping cash ready for opportunities elsewhere.Friday’s selloff in US tech stocks, driven by fears of higher interest rates, shows how quickly popular trades can unwind once sentiment shifts. That risk could spillover into Korea once local markets open.“We’ve been trimming gross exposure at the margin and layering derivative protection over the last few weeks,” said Yi Ling Ong, managing partner at Golden Horse Fund. Several large IPOs, including a SpaceX listing this month, could lead to rotation as funds raise cash to participate, making it “prudent to hold some dry powder,” she said.131561937Over the past year, Korean stocks captured global attention as a combination of the AI boom and the government’s successful corporate reform propelled the index to new highs. Strong earnings potential continues to underpin bullish sentiment, but the extended rally has led to crowding in a few major players, leaving the market vulnerable to abrupt reversals. The benchmark tumbled 7% at one point on Friday.The caution is showing up in the derivatives market.“The debate isn’t whether the Kospi story remains attractive — it’s how to stay invested without giving back a portion of the gains,” said Tanvir Sandhu, global chief derivatives strategist at Bloomberg Intelligence. Options activity in the EWY ETF suggests investors are becoming more cautious, with demand shifting from upside exposure to downside protection, he said.Some investors are looking for opportunities beyond Samsung Electronics and SK Hynix, whose meteoric rise propelled them into the $1 trillion valuation club and helped Korea briefly overtake India as the world’s sixth-largest stock market.“The alpha lies lower down the value chain — in the picks-and-shovels of the picks-and-shovels,” said Vikas Pershad, portfolio manager at M&G, referring to companies that benefit from spending on AI infrastructure without being at the heart of the trade.Not Bearish To be sure, the rotation doesn’t signal investors turning bearish on Korea. Valuations remain cheaper than in rival tech hub Taiwan and investors say the market still offers one of the strongest AI-linked stories in global equities. At 8.6 times forward earnings, the Kospi trades below its five-year average of 10 times and is much cheaper than Taiwan’s benchmark, which trades at about 20 times, data compiled by Bloomberg show.Earnings upgrade cycle has also started to broaden. Excluding Samsung and SK Hynix, the rest of the Kospi is now expected to deliver more than 50% profit growth this year, up from just 20% in January, according to Golden Horse Fund. 131561965“The speed of the rally has been vertiginous but in this type of market I would rather let the rally continue,” said Rajeev De Mello, global macro portfolio manager at Gama Asset Management SA. “Exiting now will make it very difficult to re-invest later if the market doesn’t correct.”Still, foreign outflows have become a concern. Global funds have pulled a record $76 billion this year, selling in every session over the past month. While part of the retreat is due to technical limits on single-stock holding, the selling has been absorbed by more fickle retail investors — a dynamic that may heighten volatility.At the same time, some investors are growing wary of rising retail leverage. The concern is that popularity of leveraged ETFs and the planned weekly single-stock options could amplify swings in an already-volatile market. While the products are “really interesting” and show retail participation is growing, they also leave the market “in somewhat of a precarious position in case of a reversal,” Stephane Martin, head of derivatives institutional sales for Asia at Optiver, said at a panel discussion at Bloomberg’s Volatility Forum last week. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
India is launching E85 petrol, an 85% ethanol blend, at discounted prices. This move aims to boost clean fuel adoption and cut reliance on imported fossil fuels. The government plans a phased rollout of E85 dispensing stations nationwide. Vehicle manufacturers are introducing E85 compatible models. This initiative is expected to benefit farmers and save foreign exchange.
The 85 per cent ethanol blend drastically minimises tailpipe emissions, particularly carbon monoxide, hydrocarbons, and particulate matter
New Delhi: State-run oil companies will sell E85 fuel — a blend of 85% ethanol and 15% petrol — at a discount of Rs 20 per litre to offset the biofuel’s lower energy content, Oil Minister Hardeep Singh Puri said on Friday after inaugurating an E85 dispensing facility at a Delhi petrol pump.The government plans to roll out E85 fuel in phases, with 500 fuel stations targeted by the end of this year and 5,000 by the end of 2027 across India, Puri said.Indian Oil already has a network of 400 fuel stations that can dispense E100 fuel, or pure ethanol with no mix of petrol, across Delhi, Uttar Pradesh, Maharashtra, Karnataka, and Tamil Nadu.Also Read: India to launch E85 fuel today in push for flex fuel mobilityEthanol’s energy content is about one-third lower than that of petrol. To compensate for this, E85 users will receive a Rs 20 per litre discount compared with E20, the regular fuel blend sold across the country that contains 20% ethanol and 80% petrol.The E20 blend will continue to be available at all fuel stations, as most vehicles currently on Indian roads can use blends of up to 20% ethanol.In recent days, Maruti Suzuki and Hero MotoCorp have each launched one vehicle model capable of running on E85 fuel.The simultaneous rollout of compatible vehicles and fuel dispensing infrastructure will help accelerate E85 adoption, Puri said, adding that there was a “pretty compelling case” for shifting to E85 because it would be cheaper, lower emissions and reduce dependence on fuel imports.
Toronto Maple Leafs are reportedly considering a low-risk move for former 40-goal scorer Patrik Laine. Laine is expected to become a free agent on July 1. The Maple Leafs are looking to add offensive depth. A potential contract could offer cheap scoring if Laine meets certain performance and games played incentives.
Areca nut, whose smuggling is driven by high domestic demand and cheaper alternatives, is widely consumed in India, particularly in the form of pan masala and gutkha
The Indian rupee is trading around Rs. 95-96 to the dollar in late May 2026, setting fresh record lows. Markets are openly discussing the Rs. 100 threshold. The rupee has weakened in almost every year since 2014 and has lost approximately half its value against the dollar over that period. The end of this currency depreciation is not in sight. The factors that would stop it are not yet visible.The government is acting. State run oil companies have implemented four fuel price hikes in ten days as of May 25, taking petrol in Delhi past Rs. 102 per litre. This is the right and necessary response to the energy cost reality created by the Iran war. Crucially, the Modi government has also done its part on the macroeconomic front, consistently and aggressively reducing the fiscal deficit as a percentage of GDP to maintain structural stability.Yet, the currency pressure persists. The energy price impact has not yet fully reached Indian consumers and supply chains. It is coming.Uday Kotak said it plainly at the CII Annual Business Summit on May 12: "Be ready for tough times rather than waiting for the shock to hit us." He was right.Also read | Manufactured monopoly: How industrial policy is structuring monopolies in IndiaThis is not a time to panic. But it is a time to act. The leaders who move now will have options. Those who wait will not.The Overriding Factor: The Psychology of the PlayersWhy is the currency declining despite strong domestic fiscal discipline? Because exchange rates are not driven by mathematical models alone. The currency decline is highly affected—and accelerated—by the psychology of all players engaged in this endeavor.Currency movements are deeply behavioral. When a currency visualizes a downward trend, psychology shifts from calculation to self-protection and speculation. Every player in the ecosystem operates under this psychological weight:Corporate CFOs and Treasurers: Instead of hedging normally, they rush to cover future dollar liabilities early, hoarding hard currency and inadvertently worsening the scarcity.Foreign Investors: They begin to judge their returns not by the quality of Indian business operations, but by the eroding value of the conversion rate.Importers and Exporters: Importers advance their payments to avoid paying more tomorrow; exporters delay converting their dollar earnings back into rupees, waiting for a "better" rate. This collective psychology creates a self-fulfilling prophecy.Investors, CFOs, and FDI decision makers extrapolate what is happening now into the future. When they see a currency that has lost approximately half its value since 2014 with no clear floor in sight, their psychological pivot alters market realities.Also read | India tightens checks on overseas flows as currency pressure mounts, sources sayThe cascading timeline of Foreign Portfolio Investor (FPI) equity behavior perfectly mirrors this psychological shift from rational evaluation to systemic risk aversion:2024 (The Calculation Phase): Rupee averages Rs. 83-84. FPI flows remain positive (+$12 billion) as investors trade on strong domestic corporate earnings.2025 (The Self-Protection Phase): Rupee slides past Rs. 89. Collective psychology shifts to risk mitigation. FPIs withdraw a record $18.4 billion from Indian equities—the largest annual equity outflow on record.Early 2026 (The Capitulation Phase): Rupee breaks past Rs. 95. Sentiment turns into an outright exit strategy. In the first four months of 2026 alone, outflows have already reached $19.1 billion, completely bypassing the entire previous year's record loss in a fraction of the time.FDI agreements are being signed, but capital is delayed because players are psychologically hesitant to deploy funds into a depreciating asset.The Trap of Hard Currency Debt: A Broken Business Model There is a highly significant and dangerous phenomenon unfolding in India today that requires immediate exposure. For years, a specific class of Indian corporates adopted a regular strategy of borrowing heavily in hard currency (External Commercial Borrowings, or ECBs). Lured by low nominal global interest rates, several of these companies over borrowed, treating cheap dollar debt as a permanent structural advantage.Today, that strategy has become a trap. The compounding effect of a depreciating rupee, skyrocketing hedging costs, and brutal refinancing realities is fundamentally breaking their business models.Consider the mechanics of this crisis:The Hedging Penalty: Leaving dollar debt unhedged is now corporate roulette. However, buying hedges at current rupee levels has become structurally prohibitive. The cost of protection completely wipes out any interest rate advantage.The Refinancing Wall: Billions in foreign debt are coming due. These over-borrowed companies must now refinance their liabilities at a time when the rupee value has materially deteriorated. They are effectively forced to borrow far more rupees just to pay back the same amount of original dollars.The Crushing Cost of Rupee Capital: As these companies try to pivot back to domestic lenders, they face a severe escalation in their rupee cost of capital.The Growth Verdict: When your cost of capital spikes and your cash flows are consumed by servicing legacy dollar debt, future growth stops. Capital expenditure (CapEx) plans are being frozen. These companies can no longer invest in innovation, capacity, or market expansion. Their business model shifts overnight from aggressive value creation to basic survival. Boards must realize that this is not a temporary treasury headache; it is a structural threat to the company’s future viability.India's forex reserves stand at approximately 10 to 11 months of import cover. Substantial, but being actively deployed to defend the currency. Some imports are non-negotiable: oil, critical inputs, components. These will now cost more. That cost passes through every supply chain.Six Actions for Business Leaders1. Protect your cash and liquidity first. This is the most immediate priority. Map your cash position today. Identify every source of liquidity across the next twelve months. Stress-test it at Rs. 100 and beyond. Which receivables are at risk? Which credit lines are rupee-denominated and which are not? Companies that run into a cash crisis during a currency depreciation cycle lose their options entirely. The CFO must own this analysis and present it to the board within days, not weeks.2. Act now on your foreign currency borrowings, hedging, and refinancing. Do not assume the rupee will recover to Rs. 80. Analyse your full foreign currency exposure across the next three years: every loan, every refinancing date, every hedging contract, every procurement price denominated in foreign currency. Hard currency loans now face refinancing at rupee values that have materially deteriorated. Model every scenario at Rs. 100 and beyond. Your CFO, treasury, and procurement team must be aligned on one instruction: do not run into a liquidity crisis. This analysis must happen now, not at the next quarterly review.3. Build a war room. Most companies have begun thinking about war rooms for supply chain disruptions. Expand the mandate. Currency exposure belongs in the same room. Which of your costs are dollar or euro denominated? Which of your revenues are rupee denominated? Where is the mismatch? What is your break-even exchange rate? If you do not have clear answers today, you are exposed. The war room is not a committee. It is a real-time decision environment with live data, a clear owner, and the authority to act.4. Use the currency depreciation advantage: double your export salesforce. A weaker rupee makes Indian exports more competitive. This window will not stay open indefinitely. Double the salesforce in your export markets now. Use this period to upgrade quality, improve service delivery, and build customer relationships that will last beyond the currency advantage. Indian exporters who invest in capability during this period will emerge stronger regardless of what the rupee does next. Those who simply ride the price advantage without building the underlying business will lose when conditions change.5. Watch your stock and your sector. Banks and financial institutions should already be on high alert. Companies with large foreign currency exposure will see pressure on their financials. Some stock prices are already reflecting this. Go through your sector company by company. Identify who is most exposed. If you are an investor or a lender, this analysis is not optional. The combination of currency depreciation, rising oil prices, and FPI outflows creates a compounding pressure that will surface in earnings before it surfaces in headlines.6. Cut costs aggressively. AI will help. There has never been more urgency to reduce costs than now. And there has never been a better tool to do it. AI can cut most operational costs by as much as 30% across functions: procurement, finance, customer service, logistics, and compliance. McKinsey data confirms companies adopting AI and automation reduce operational costs by 20 to 30 percent. This is not a future opportunity. It is a present imperative. Every rupee of cost removed through AI is a rupee that does not need to be recovered through revenue in a deteriorating currency environment. Start now with your highest-cost functions.The CFO as CaptainCurrency risk is a cash flow risk. Every function that touches foreign currency—procurement, treasury, sales, capex planning— must now report into a single coordinating authority. That authority is the CFO. This is not about hierarchy. It is about clarity. In a currency crisis, fragmented decision-making is as dangerous as wrong decision making. One captain. One consolidated view. Weekly reviews minimum.The Bigger PictureThis currency depreciation is a structural signal, not a cyclical one. India's economy must move from a cheap labour advantage to genuine global value creation.The companies that will survive and thrive are those building products and services that command premium prices in global markets. The rupee's weakness is a reminder that competing on cost alone has limits.The recently concluded trade agreements are a genuine opportunity. Execute them with full force. Build the export pipelines. Add the sales capacity.The businesses that move now, with discipline and clarity, will manage market psychology, navigate the debt trap, and define the next chapter of Indian industry.The shock is coming. Prepare before it arrives.Ram Charan is the author of China’s 90% model. It is restricting India’s industrial progress. Former Director of Hindalco and Muyuan (China).
The evidence showing limited or no job loss challenges the idea that cheap labour is a necessity for employment
A recent surge in gold import duty has fueled a wave of smuggling, with illicit gold now available at discounts of up to Rs 10 lakh per kilogram. This creates a significant price disparity with legally imported bullion, mirroring trends seen after a similar duty hike in 2013. Industry experts warn of escalating unofficial imports.
It’s easy to understand why so many graduates are booing commencement speakers who tell them how great AI is. They face a brutal job market, with unemployment for recent college graduates nearing recession levels, and AI is often cited as the reason they can’t find jobs or have to drastically reassess their career plans.I have a message for the class of 2026: AI is not ruining your job prospects, at least not yet. A better explanation for the tough job market may be the prevalence of WFH, not the rise of AI.131463654Two new studies, one from the Federal Reserve Bank of New York and one from the London School of Economics, look at the recent rise in unemployment among young workers. The authors of the LSE study looked at 243 million new hires and 407 million online job postings from 2017 to 2025 in the US, UK, Australia and Canada. They observed a notable decline since 2022 in the hiring of new graduates. AI was presumed to be the reason, since the falloff tends to be in the sort of industries that are adopting AI.But these are also the same kinds of jobs — reliant on computers, knowledge-intensive, white-collar — that are most amenable to working from home. When they controlled for WFH, the authors found that the impact of AI on hiring was negligible.The study postulates that where WFH is more common, managing junior staff is more expensive. At the same time, young staffers who receive less training may be less productive than they would be otherwise, even as they mature and demand more pay. So the cost of WFH to young graduates is not just a harder job market — it also makes it harder for young employees to get good training, supervision and mentorship, a point also made by the New York Fed study.WFH has always had a superficial appeal. At first, it seems easier and often cheaper for both employers and employees; companies can pay less if they offer more flexibility, and many staffers have commitments that keep them at home. In the long term, however, both management and workers pay a price in terms of lost training and career development of younger employees.This could get even worse as AI is more widely adopted. New hires recently out of college who work on their own may figure out how to do specific tasks (perhaps with AI assistance), but they won’t learn much about how to manage office politics, charm clients or build networks. All these skills will be even more valuable in an AI job market, and none can be gained without coming into the office and observing senior colleagues.The new research doesn’t argue that AI will have no impact on hiring in the future, or that it is currently affecting hiring decisions. It’s also worth noting that many firms are still hiring — just not as much as before. There are a lot of factors that go into the health of the labor market, and if the economy worsens, the combination of AI and WFH could make it even harder for young graduates.What does seem clear is that AI is becoming a convenient villain for a lot of complaints people have about the economy. Tech executives aren’t helping by regularly declaring that AI can replace a lot of jobs. More likely, they are using AI as an excuse when they are letting people go for financial reasons. In the case of WFH, it may be easier to blame AI than to ask reluctant staff to come into the office.I’ve seen this reluctance firsthand: A few years ago I met middle-aged media executive who told me how much she loved working from home (or, often in her case, from a resort in Mexico). When I asked her about junior staffers missing out on mentoring and on-the-job training, she admitted she never would have succeeded if senior people weren’t in the office when she was coming up. But she didn’t seem too bothered by it, either.I’ve never been asked to give a commencement speech, but if for some reason I were, this would be my advice: Find a company where everyone likes going to work. Then try to get a job there — and if you do, go into the office every day.
The shares of Indian IT companies including Infosys, TCS and others continued to record sharp gains on Tuesday, pushing the Nifty IT over 3% higher even as the broader Nifty index slipped into the deep red.The Nifty IT index extended gains for the third consecutive session, jumping around 7% during the period to hit a high of 30,785 on Tuesday. Nifty crashed 3% during the same time to trade below 23,250.Infosys shares gained more than 4% to trade at Rs 1,257.90 apiece in the morning trading hours of Tuesday. The heavyweight IT stock has now gained nearly 9% in just three sessions. The shares of Tata Consultancy Services (TCS) meanwhile jumped around 3.5%.Mphasis and LTI Mindtree shares jumped nearly 3% each, while HCL Technologies, Coforge, Tech Mahindra and Persistent Systems shares jumped around 2% each. Wipro shares were trading in the green with marginal gains.What’s driving the rally in IT stocks?The sharp surge in IT stocks comes after a significant decline earlier this year, following the launch of plug-ins for AI startup Anthropic's Claude Cowork agent, which could automate tasks across legal, sales, marketing, and data analysis. "We call it the ‘SaaSpocalypse,’ an apocalypse for software-as-a-service stocks," Bloomberg quoted Jeffrey Favuzza from the equity trading desk at Jefferies.While analysts continue to debate the future of IT companies following fresh AI advancements, investors were quick to analyse the cheap valuations, leading to some pockets of buying. Nuvama, in its note, had highlighted that the IT sector is setting up for a powerful comeback, not a collapse after the brutal AI-driven selloff.“We see no existential threat from Gen-AI,” the brokerage writes, arguing that enterprises will still need a “system integrator” to customise plug-and-play AI and software tools for their highly complex, brownfield technology stacks and to take ownership when “the system fails at 2 am.”The latest round of buying also comes ahead of the Federal Reserve’s policy meeting next month, which would be the first under Chair Kevin Warsh. US President Donald Trump had selected Warsh partly on expectations that he would support lower borrowing costs to stimulate economic growth. However, rising inflation raised questions over the possibility of lowering rates."Indian IT firms are following suit of American companies like Anthropic and OpenAI by taking up contracts and tie-ups which are perceived as promising by investors," said Gaurav Sharma, head of Research, Globe Capital.Arbind Maheswari from BofA Securities told ET Now that the market globally is attracting flow towards only one story, at the front and centre of it is tech and AI. It is hard to pull away from that fact with a near-term vision. “There are people who believe that the whole business model of Indian IT services is put to question by the AI trade. The other side is that IT services companies will evolve and adapt and they have enough cash flow, they have the resilience, and they have shown this in the past where there were threats that seemed existential for the IT services space. This time obviously it is much bigger and it could last longer but I am sure there is enough that these companies have in them both in terms of depth of management and business models that they can evolve to adapt to the new AI world,” he added.Wipro to acquire additional stake in Aggne Global for $28.5 millionWipro announced that it will acquire an additional 20% stake in US-based insurtech company Aggne Global Inc through an all-cash transaction worth $28.5 million. The company said the transaction is expected to be completed by June 5.Earlier this year, the company acquired Mindsprint for $375 million as part of a broader $1 billion transaction with its parent, Olam Group. It also purchased select customer contracts from US-based Alpha Net Consulting LLC and its subsidiaries for $71 million.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Bengaluru woman shared the cheapest flat in Bengaluru starts from ₹25,000 and it wasn't even a 1 BHK. Check out pictures.
The drones being tested are relatively cheap, costing around $5,000 each
India Oman CEPA takes effect, giving duty free access to 99.38 percent of Indian exports, easing pharma and electronics trade, and expanding visas for Indian professionals
Shares of Indian IT companies, including heavyweights Infosys, Tech Mahindra, TCS and Persistent Systems jumped up to 5% on Monday as multiple tailwinds boosted investor sentiment, pushing the Nifty IT index up around 3% to emerge as the top sectoral gainer.The index rose to 29,905 in the morning trading hours of Monday, extending sharp gains for the second consecutive session. The index has now jumped nearly 4% over two days.The sharp surge in IT stocks comes after a significant decline earlier this year, following the launch of plug-ins for AI startup Anthropic's Claude Cowork agent, which could automate tasks across legal, sales, marketing, and data analysis. "We call it the ‘SaaSpocalypse,’ an apocalypse for software-as-a-service stocks," Bloomberg quoted Jeffrey Favuzza from the equity trading desk at Jefferies as saying.While doomsday prophets continue to debate the future of IT companies following fresh AI advancements, investors were quick to analyse the cheap valuations, leading to some pockets of buying. Nuvama, in its note, had highlighted that the IT sector is setting up for a powerful comeback, not a collapse after the brutal AI-driven selloff.“We see no existential threat from Gen-AI,” the brokerage writes, arguing that enterprises will still need a “system integrator” to customise plug-and-play AI and software tools for their highly complex, brownfield technology stacks and to take ownership when “the system fails at 2 am.”Also read: Reports of my death are greatly exaggerated! Why Nuvama is screaming buy on all top 10 IT stocksThe latest round of buying also comes ahead of the Federal Reserve’s policy meeting next month, which would be the first under Chair Kevin Warsh. US President Donald Trump had selected Warsh partly on expectations that he would support lower borrowing costs to stimulate economic growth. However, rising inflation raised questions over the possibility of lowering rates.Technical view on Nifty ITThe Nifty IT index has witnessed a strong rebound after taking support near its crucial support zone, indicating the possibility of a short-term recovery in the sector, Kunal Kamble, Senior Technical Research Analyst at Bonanza had said. “On the hourly time frame, the index is currently forming an inverse Head and Shoulders pattern. A decisive breakout is seen above the neckline of this pattern and has triggered further upside momentum in the index. Such a move is likely to positively impact heavyweight IT stocks that share a high correlation with the index, including Infosys, Tata Consultancy Services, and HCL Technologies,” he added.Technically, the analyst had suggested that if the index manages to sustain above the 29,650 mark, it may open the door for a further recovery towards the 31,280 zone in the near term. However, he added that the current price action appears to be a retracement within the broader trend rather than a complete trend reversal. Therefore, traders should approach the sector with a cautious outlook.“Aggressive or high-risk traders may consider short-term trading opportunities in select IT counters, provided the index maintains strength above key support levels. On the downside, a breach below 28,800 could once again invite selling pressure across the Nifty IT index and associated IT stocks, potentially weakening the ongoing recovery structure,” he said.IT stocksPersistent Systems shares were the top gainers on the Nifty IT index, jumping nearly 5%. Infosys shares followed, surging nearly 4%. Mphasis, Tech Mahindra, LTI Mindtree and Coforge shares gained over 3% each.Also read: Wockhardt shares rocket 19% after FDA approval for antibiotic targeting drug-resistant infectionsTata Consultancy Services (TCS) and OFSS shares jumped around 2% each, while HCL Technologies and Wipro shares gained around 1% each.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
The long wait for the NSE public listing appears to be entering its final stretch. The exchange recently confirmed that it expects to file its draft red herring prospectus (DRHP) by the second week of June, putting the country's most anticipated IPO one step closer to reality.The update has once again sparked interest in NSE's unlisted shares, which continue to change hands actively in the private market. With the DRHP now less than two weeks away, investors may want to know does it still make sense to buy NSE shares before the IPO?The answer from analysts is nuanced. Most experts agree that NSE remains one of India's strongest financial franchises. However, they also caution that investors should not treat the approaching IPO as an automatic opportunity for quick gains.NSE currently trades in the unlisted market at around Rs 1,950-2,050 per share, implying a valuation of roughly Rs 5 lakh crore. That valuation already reflects significant optimism around the company's eventual listing."NSE is clearly one of India's strongest capital-market franchises and remains one of the most awaited IPO candidates. However, investors looking to buy unlisted shares purely because the DRHP filing is close should exercise caution," said Paresh Bhagat, CIO of Veer Growth Fund and chairman of Mangal Keshav."The business quality is not in question. The key risk is valuation and entry price." Bhagat noted that based on FY26 profit after tax of around Rs 10,300 crore, the exchange is already valued at nearly 48-50 times earnings.While NSE enjoys dominant market share, strong profitability and significant cash generation, he believes much of that strength is already reflected in current unlisted market prices. One of the biggest assumptions among investors is that buying shares before the IPO guarantees a profit once the company lists. Analysts say that assumption may not always hold true.The eventual IPO pricing remains unknown. In many large public offerings, companies deliberately leave room for public market investors by pricing the issue below prevailing unlisted market valuations.If that happens, investors entering NSE at current unlisted prices could face limited upside or even temporary mark-to-market losses. "The pre-IPO window should not be seen as a guaranteed arbitrage opportunity," Bhagat said. "If the IPO is priced more reasonably for public-market investors, the gap versus current unlisted prices could be meaningful."Others echo the same concern. "I would avoid buying NSE unlisted shares purely on the expectation of the upcoming DRHP filing," said Arpit Jain, Joint Managing Director at Arihant Capital Markets."While the filing could be an important milestone in the IPO journey, a significant portion of the optimism around the listing is already reflected in the current unlisted market price." Jain pointed to several high-profile IPOs in recent years where strong excitement before listing did not necessarily translate into exceptional post-listing returns.He said investors should focus on valuation, offer pricing, market conditions and the final IPO structure rather than rushing to buy shares simply because the DRHP is approaching.At the same time, few analysts dispute the quality of the underlying business. NSE remains India's largest stock exchange and dominates equity derivatives trading. The exchange reported total income of Rs 18,713 crore and consolidated net profit of Rs 10,302 crore in FY26.Its capital-light business model, strong cash flows and dominant market position have made it one of the most sought-after names in the unlisted market.According to Nitant Darekar, Research Analyst at Bonanza, NSE currently trades at around 45 times FY26 earnings, based on earnings per share of Rs 41.62. While that valuation is not cheap, it remains below some listed peers."NSE remains a capital-light near-monopoly," Darekar said. "At around Rs 1,950-2,170 in the unlisted market, it trades near 45x FY26 earnings. That's rich, but below BSE at around 70x and MCX at around 80x."Darekar added that the recent settlement of the long-running co-location case has removed a major overhang on the IPO process. However, he cautioned that the exchange's earnings remain linked to derivatives trading activity, which can be volatile, especially after regulatory changes in the futures and options segment.He also highlighted another practical consideration for investors. "The urgency is real. Post-DRHP, fresh unlisted purchases face a one-year lock-in. But valuation, not the calendar, should drive the decision."That point is particularly important because many retail investors view the narrowing pre-IPO window as a reason to buy immediately.Ishan Tanna, Senior Associate at Ashika Capital, said history suggests otherwise. "Historically, buying unlisted shares very close to the IPO stage has not always offered the best risk-reward for investors," he said."In many cases, the biggest gains are made when IPO visibility is low and uncertainty is high. Once the DRHP gets filed and listing draws closer, valuations often become expensive as the IPO excitement premium starts getting priced in."Tanna said NSE remains a rare financial infrastructure asset with strong profitability and a dominant position in Indian capital markets, making it attractive for long-term investors.However, investors chasing quick listing gains should recognise that late-stage entry into pre-IPO stories often carries greater risks than many assume.For now, the consensus among market experts is that NSE remains one of India's highest-quality businesses and its IPO will likely attract enormous investor interest. But with the stock already trading at elevated valuations in the unlisted market, investors may need to focus less on the countdown to the DRHP and more on whether the current price adequately compensates them for the risks ahead.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)