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SIR: ECI official stresses on precision, transparency

Smart money move: Why Groww MF's equity chief is betting on multicap strategies

While warning about the risk of a looming oil shock, Groww Mutual Fund’s equity chief, CA Anupam Tiwari, says multicap strategy together with bottom-up investing can work well in this market.Although there might be valuation concerns in some specific areas, the overall investment environment for active stock picking in mid and small caps has improved to some extent, he says in an interview with ET Markets.Edited excerpts from a chat:Markets have recovered from recent corrections despite geopolitical tensions. What is the market pricing that investors may be underestimating?Markets are showing signs of recovery from the fall due to the prospects of de-escalation and continued talks regarding the resolution of the Middle East crisis. Nevertheless, one possible threat that investors might be overlooking is the possibility of prolonged geopolitical instability that can cause oil prices to remain elevated for an extended period.Sustained higher energy prices could have broader implications for inflation, currency stability, corporate profitability, and economic growth. While markets appear to be pricing in a relatively benign outcome, any disruption that results in persistently elevated crude prices could have a more meaningful impact on the macroeconomic environment than is currently reflected in markets.With valuations still elevated in parts of the market, how should investors think about allocating money across large-, mid- and small-cap stocks today?Broad concerns regarding valuation levels in the market have cooled off in recent months. At the current juncture, close to one-third of the mid-cap space is priced below its five-year average valuation levels, whereas nearly half of the small-cap space is trading below its own five-year average valuation levels.Under these circumstances, although there might be valuation concerns in some specific areas, the overall investment environment for active stock picking in mid and small caps has improved to some extent. Here, a multicap strategy together with bottom-up investing can work well in uncovering better businesses.The multicap category has seen rising investor interest. What advantages does a multicap strategy offer in the current market environment compared to pure large-cap or mid-cap approaches?While the current phase is marked by heightened volatility, volatility is often uneven across segments. In such an environment, a multicap strategy may provide disciplined exposure across market caps within a single portfolio.This allows investors the relative stability and earnings visibility of larger companies, while also participating in the long-term growth potential of mid- and small-cap businesses. By maintaining exposure across segments, a multicap approach can help reduce over-reliance on any single category and provide a more balanced way to navigate changing market conditions.One of the key benefits of a multicap strategy is that it removes the burden of market-cap allocation from investors. Determining when to allocate across segments can be challenging, particularly as market leadership often shifts across cycles. A multicap strategy addresses this by embedding this decision within a disciplined investment framework, freeing investors from having to make often difficult and timing-sensitive allocation calls.From a long-term perspective, multicap funds can serve as a core equity allocation for investors, enabling investors to participate in India's growth story through a combination of established market leaders and emerging businesses.Many retail investors continue to favour mid- and small-caps despite recent volatility. Is the risk-reward equation still attractive in these segments?While mid- and small-cap stocks are generally more exposed during periods of market volatility, the opportunity set within these segments has improved as valuations have moderated across several pockets of the market while business fundamentals have remained intact and even improved in several pockets.Rather than looking at mid and small caps as segments, investors should focus on a disciplined investment framework. Selective opportunities continue to exist despite volatility, making active stock selection increasingly important in determining outcomes.Which sectors currently offer the strongest earnings visibility, and where are you finding opportunities despite market volatility?We continue to focus on sectors where earnings visibility remains relatively strong despite broader market volatility. Financials remain a key area of interest, supported by reasonable valuations, stable asset quality, improving credit growth, and a favorable funding environment, particularly within select NBFCs and mid-sized financial institutions.Within industrials, we remain constructive on themes such as power transmission & distribution, renewable energy, and defence, where order books remain healthy and policy support continues to drive long-term demand. In the auto space, we continue to see opportunities linked to premium consumption trends, EV adoption, and select auto-component manufacturers benefiting from structural drivers such as exports, and regulatory and policy changes.We are also positive on specialty chemicals, particularly businesses with strong contract manufacturing franchises, niche product portfolios, and long-term customer relationships. If you had to allocate fresh money today, which market-cap segment would receive the highest allocation and why?Our equity investment philosophy, QGaRP (Quality and Growth at a Reasonable Price), is market-cap agnostic and driven primarily by stock selection rather than segment-level calls. We seek to invest in businesses that combine high quality management, growth potential, and valuation comfort.That said, our multicap strategy has historically maintained a growth-oriented tilt towards mid- and small-cap companies. With valuations having moderated across several pockets of the mid- and small-cap universe, we believe the environment has become more conducive in these segments for active stock selection.As a result, while we continue to maintain a diversified allocation across market caps, we remain constructive on selectively identifying opportunities within the mid- and small-cap space where fundamentals, growth prospects, and valuations are aligned with our philosophy.

'Umpiring decisions go in their favour': Pakistan's Khushdil alleges bias towards India in cricket

Pakistan all-rounder Khushdil Shah alleges that India frequently benefits from favorable umpiring and match-related decisions in India-Pakistan encounters. Speaking on the ARY Podcast, Shah claimed that decisions on and off the field, including those in the dressing room and match scheduling, often favor the Men in Blue.

T.N. government’s decision to shelve smart meters project a grave mistake: BJP

Smart meters would create a robust infrastructure fully supported by loans and grants from Central government agencies, along with private capital, Narayanan Thirupathy said

DRS howler! Afghanistan miss Rishabh Pant wicket despite clear edge on UltraEdge

Afghanistan missed a crucial DRS opportunity to dismiss Rishabh Pant, who went on to score 81 runs. Replays later confirmed a clear edge on Pant's bat, a decision that proved costly for the visitors. Pant's entertaining knock was eventually ended by captain Hashmatullah Shahidi.

Shut but open | T.N.’s closure of liquor shops

Every time a new party comes to power, closing liquor shops becomes one of its standard promises. But shops are eventually opened in other locations. Is the Tamilaga Vettri Kazhagam government’s decision to shut 717 liquor shops near educational institutions and places of worship going to be any different, people wonder

'Armed with bamboo sticks': RJD workers step in after Lalu, Rabri lose Z+ security

Bihar's political landscape is stirred as Lalu Prasad, Rabri Devi, and Tejashwi Yadav returned security personnel after their cover was downgraded. RJD workers have now taken over guarding Rabri Devi's residence, citing a "bold decision" against perceived political vendetta and insults from the government.

Iran war hobbles power to shape oil market

OPEC+ ministers meet Sunday to weigh higher production quotas in a bid to cap oil prices that have surged since the Iran war effectively choked off Gulf crude shipments.But even if the cartel members vow to ramp up output by thousands of barrels per day, analysts say geopolitical realities mean they probably won't move the needle on prices.Also read: OPEC+ leaders expected to up July oil output target despite Hormuz disruption, sources sayWith the crucial Strait of Hormuz shut since US and Israeli attacks on Iran in late February, oil prices have nearly doubled, igniting inflation pressures worldwide.Ministers from the 21 member states of OPEC+, the main oil producing nations and their allies, are holding their quarterly meeting online.The group is likely to beef up its production quotas by "188,000 barrels a day", said Jorge Leon, analyst at Rystad Energy, similar to recent increases. But in reality, only seven members -- Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman -- have the capacity to do so.Dwindling supply Tehran's threats of retaliatory attacks to US and Israeli strikes have virtually blocked the vital Strait of Hormuz, through which roughly a fifth of global oil and gas supplies normally pass.That is equivalent to about 20 million barrels a day. But with key Gulf producers shut out of the global market, pledges to raise output in a bid to ease spiralling prices are unlikely to sway traders. "Any announced production increases or changes to output targets will have limited practical value," said Ole Hansen, a commodities analyst at Saxo Bank."There is very little OPEC can do," he told AFP.OPEC+ itself says daily production has plummeted to just 33 million barrels a day as tankers remain stuck, compared to nearly 43 million before the conflict.A US blockade on Iranian ports means "it will be even less than that" in reality, said Homayoun Falakshahi, head of crude oil analysis at data firm Kpler.Also read: Oil prices fall on mounting hopes for de-escalation in US-Iran WarUAE slams the door The United Arab Emirates' recent decision to quit OPEC further saps away at the cartel's influence, given its huge excess production capacity.And Abu Dhabi has made clear it wants to boost output."They don't want to be dictated to, they want to maximise their revenues," said Lawrence Haar, a lecturer in finance at the University of Brighton in England. And the cartel risks seeing other countries follow the UAE's example."If Iraq were to leave, it could mark the end of OPEC+," Falakshahi said.Saudi Arabia, by far the cartel's most influential member, "is going to do what it takes to stop anyone else from leaving," Falakshahi predicted.That could translate into more flexible output quotas or decreased penalties for any excess production.But "for now, the compensation framework has effectively become irrelevant due to widespread production shut-ins," Hansen said.As a result, the Iran war has largely neutralised the cartel's stated mission "to secure an efficient, economic and regular supply of petroleum to consumers, and a steady income to producers". For Falakshahi, the only factor limiting further oil price spikes at the moment is China, "which is buying less oil than normal" by tapping into its vast strategic reserves.

Why India moved on from Suryakumar Yadav - The numbers behind the end of the SKY era

Three months after leading India to the T20 World Cup title, Suryakumar Yadav has lost both the captaincy and his place in India's T20I setup. The selectors insist the decision was driven by form and the need to look ahead to the next World Cup cycle. A deep dive into the numbers reveals why. From one of the greatest peaks in T20 history to declining returns, waning match-winning influence and rising competition from younger rivals, the data explains why India chose the future over the past.

Shut but open

Every time a new party comes to power, closing liquor shops becomes one of its standard promises. But shops are eventually opened in other locations. Is the Tamilaga Vettri Kazhagam government’s decision to shut 717 liquor shops near educational institutions and places of worship going to be any different, people wonder

Obama casts a long shadow on Iran bill

US President Donald Trump has spent years attacking his predecessor Barack Obama for what he called a giveaway to Iran. The image of "pallets of cash" became one of his favorite political talking points, a symbol of what he portrayed as weakness in dealing with Tehran.Yet the irony of the current moment is becoming harder to ignore. As negotiations to end the latest US-Iran confrontation stall, Iran is demanding access to billions of dollars in frozen assets, and the success of any deal may depend on whether Trump agrees to some form of financial relief. The president who built his Iran policy around rejecting Obama's approach may now find himself confronting the same reality that faced previous administrations -- diplomacy with Iran often comes with a price tag.Pay $12 billion now, and $12 billion laterAn indication of how central money has become to the negotiations came from Mohsen Rezaei, military adviser to Supreme Leader Ayatollah Mojtaba Khamenei, in an exclusive interview with CNN. According to Rezaei, the negotiations have reached a deadlock and the responsibility for breaking it lies squarely with Trump. He said Iran wants the release of $24 billion in frozen Iranian assets, with $12 billion to be made available immediately after an interim agreement is signed and another $12 billion at a later stage.Also Read | Iran says frozen funds key to progress in US talksRezaei termed the demand not a concession from Washington but as a test of American intentions. "If he wants to reach an agreement with Iran, this $24 billion is a test of trust that Iran wants to have with Trump," he told CNN. "This is our own money, not America's money."The significance of the demand extends beyond the amount involved. By publicly linking the prospects of peace to the release of frozen assets, Iran has effectively made financial compensation the central political hurdle in the negotiations.Trump's Obama problemFor Trump, the issue is not as much financial as deeply political. CNN reported that Trump has repeatedly instructed his team that any agreement with Iran must be viewed as stronger than the 2015 nuclear accord negotiated by Obama. Equally important, he wants to avoid anything that resembles the controversial payments that became a focal point of Republican criticism a decade ago.Throughout his political career, Trump has portrayed the Obama administration's handling of Iran as evidence of weak leadership. Recently, he revived his criticism of the Joint Comprehensive Plan of Action, or JCPOA, describing it as a horrible deal and insisting that any agreement he reaches will be far better. That political history now threatens to constrain his negotiating options. A deal that includes billions of dollars flowing to Iran could invite immediate comparisons with the very agreement he spent years denouncing.Also Read | Iran retains about 22% of missile stockpile, says TrumpWhat Obama actually didThe comparison is unavoidable because financial relief was also a major feature of the Obama-era approach. The JCPOA, finalized in 2015 after negotiations between Iran and the P5+1 powers, imposed strict limits on Iran's nuclear activities in exchange for sanctions relief. The agreement capped uranium enrichment, reduced centrifuge capacity and established what experts described as one of the most intrusive inspection regimes ever negotiated.The deal also coincided with the release of $1.7 billion to Iran, a figure that Trump and other critics frequently cited as evidence of appeasement. Critics argued that sanctions relief and financial compensation rewarded Iranian behaviour across the region.Supporters of the agreement took a different view. They argued that much of the money involved consisted of Iranian assets that had already belonged to Iran and that the deal successfully halted Tehran's progress toward a nuclear weapon while providing unprecedented transparency into its nuclear program.Former US Energy Secretary Ernest Moniz, who helped negotiate the agreement, told CNBC that the JCPOA's most important achievement was its extraordinary verification system. Arms control experts similarly maintain that the deal effectively constrained Iran's nuclear ambitions before it unraveled.Why the current situation is more difficultThe irony for Trump is that negotiations now are taking place under conditions far less favorable than those that existed in 2015. After the US withdrew from the JCPOA in 2018, Iran gradually breached many of the agreement's restrictions. It expanded uranium enrichment, accumulated a much larger stockpile of nuclear material and scaled back some transparency measures.Many think that any new agreement must address a more advanced Iranian nuclear programme and a more complicated political environment. There is also the added challenge of rebuilding trust after years of mutual escalation. That reality means economic incentives have become even more important. Tehran is demanding tangible benefits upfront rather than promises of future relief. From Iran's perspective, accepting new restrictions without immediate financial gains would be politically difficult.Trump's search for a political workaroundTrump's advisers are acutely aware of the political risks. According to CNN, administration officials are exploring mechanisms that would allow Iran to receive financial relief without creating the appearance of a direct US payment. One possibility involves third countries such as Qatar releasing funds. Another would permit access to frozen assets while restricting their use to humanitarian purchases such as food, medicine and agricultural goods. There have also been discussions about creating reconstruction funds financed largely by Gulf states rather than the United States.These proposals reflect an important reality. The debate is no longer about whether Iran should receive economic relief at some stage. It is increasingly about how that relief can be structured so that Trump can claim he has not repeated Obama's mistakes. In that sense, the dispute is becoming as much about political messaging as about financial policy.Leverage versus peaceThe White House remains reluctant to surrender what it views as one of its strongest bargaining tools. Trump has publicly insisted that the United States will retain control over frozen Iranian funds until Iran meets Washington's demands. Secretary of State Marco Rubio has similarly emphasised that sanctions relief should follow compliance rather than precede it.The administration's concern is straightforward. Once funds are released, Washington loses a major source of leverage. That leverage could prove critical during the highly technical second phase of negotiations focused on Iran's nuclear program. Iran, however, sees the issue differently. For Tehran, immediate access to frozen assets is evidence that the United States is negotiating in good faith. Without such a gesture, Iranian leaders appear unwilling to commit themselves to a broader settlement. That difference in perspective has created the current impasse.The choice facing TrumpThe strategic dilemma confronting Trump is becoming increasingly clear. He can maintain a hard line and refuse any significant financial concession, preserving political consistency but risking the collapse of negotiations. Or he can accept some form of economic relief for Iran, potentially unlocking a broader peace agreement but exposing himself to accusations that he has embraced a version of the same approach he once condemned.Rezaei's comments to CNN show how central that decision has become. By presenting the release of $24 billion as a test of trust, Iran has effectively challenged Trump to choose between ideological purity and diplomatic pragmatism. For a president who built his Iran policy in opposition to Obama's legacy, that may be the most uncomfortable choice of all. If peace ultimately requires releasing billions of dollars in frozen Iranian assets, Trump would be seen as eating his words when he had asked Iran for complete surrender.

UDF will take decision on PM SHRI after studying report: Minister

RBI Examining "Pros And Cons" Of Plastic Currency Notes, No Decision Yet

RBI Governor Sanjay Malhotra assured that adequate currency is available.

Cooking oils: India sets standard packing

Bengaluru: India has ordered cooking oil ​makers and importers ​to sell their products only in ​a fixed set of pack sizes, a move the government said on Saturday would help shoppers compare prices ‌across brands ⁠more ⁠easily.The order targets a common pricing tactic in the ​world's most populous nation, where oils sold in odd, ​non-standard sizes leave buyers unable to tell which brand offers the best value for a ​kitchen staple.Read more: Consumer sector beats expectations but faces commodity crunch from Q2, warns BofA SecuritiesHere are the details:⁠Packaging will ‌be limited to nine standard ​sizes ​ranging from 200 millilitres to 20 ⁠litres, replacing the varied volumes currently available.​The rules apply to both domestically ​produced and imported edible oils, and cover major varieties including palm, soybean, sunflower, mustard and groundnut.Companies have been given three months to switch to the new sizes.131552264Packages ‌that declare their contents by volume must also state the equivalent weight, ​a step ​the government ⁠said would further aid price comparison.Containers smaller than 200 millilitres and minor edible oils have been ​exempted to keep affordable small packs on shelves.Read more: RBI says 4% inflation target not in abeyance; future rate action tied to price persistenceThe decision followed consultations with industry associations representing nearly 90% of India's edible oil sector, the Department of Consumer Affairs said.

Prime Minister Modi’s Security Doctrine Builds On Lessons From Operation Blue Star

From the intelligence gaps of Operation Blue Star to the precision of Operation Sindoor, India’s security architecture has changed dramatically.

ANNAMALAI QUITS BJP! | New Political Chapter? Annamalai Charts Independent Path After BJP Exit | N18

A major political development has unfolded in Tamil Nadu as K. Annamalai has stepped away from the BJP to launch a new political movement focused on youth participation, governance reforms, and grassroots engagement. The move has sparked intense debate across political circles, with supporters viewing it as the beginning of a new chapter in Tamil Nadu politics, while critics question whether distancing himself from the BJP could limit his political influence.Annamalai's decision is expected to reshape political equations in the state, particularly among young voters seeking alternative leadership and fresh political ideas. Political analysts are closely watching how the new movement evolves and whether it can emerge as a significant force in Tamil Nadu's highly competitive political landscape. n18oc_breaking-newsn18oc_Indian18oc_politicsNews18 Mobile App - https://onelink.to/desc-youtube

Woman who took Rs 50 lakh loan for master's abroad says biggest return wasn't money

A woman who took a Rs 50 lakh loan for her master's abroad shared her experience, highlighting the brutal London job market and her successful repayment in Dubai. She emphasized that the personal growth and life lessons gained were invaluable, outweighing the financial aspects and encouraging informed decisions beyond just numbers.

As JMM hardens stance, Congress names observers for Rajya Sabha polls in Jharkhand

Party legislators said a decision on contesting both seats would be taken soon and authorised JMM president Soren to finalise the candidates’ names

CBSE extends post-result application deadline after students flag portal issues

CBSE has extended the deadline for Class 12 answer sheet verification and re-evaluation applications to June 7 due to portal access issues. This decision offers students more time to address concerns about scanned copies and evaluation discrepancies. The board previously opened its portal for students to report issues like missing pages or incorrect answer sheets.

Assam cabinet approves dearness allowance hike, raises it to 60%: CM Sarma

The decision was taken at the first cabinet meeting following its expansion with the inclusion of 12 new ministers, 11 from the Bharatiya Janata Party (BJP) and one from the Asom Gana Parishad (AGP)