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NCC Maharashtra Launches Corporate Internship, Future Skills Initiative For Cadets

A total of 150 internship positions will be offered through the pilot placement camps across two major cities.

TMC councillor Mohammad Jasimuddin arrested for molesting minor

A Trinamool Congress councillor of the Kolkata Municipal Corporation, Mohammad Jasimuddin, was arrested on Sunday by the Bengal Police. He faces charges of molestation and harassment of a minor girl and has been booked under the POCSO Act. The arrest has led to heightened tension and increased security in the Jorasanko area.

TWAD realigns key water pipelines in Vellore’s Old Town to resume water supply

Regular drinking water supply to household consumers within Vellore Corporation limits will be resumed from Monday, June 8

No plans to privatise public health sector, says K.Muraleedharan

The State government only plans to make use of CSR funds of major corporates for the construction of new buildings in government hospitals, the Minister said

Drainage work begins on Koorkenchery–Kuruppam road in Thrissur to tackle waterlogging

Thrissur Corporation launches project under PQC road scheme; major relief expected for commuters and traders

Varanasi To Shift All Meat And Fish Shops Outside City Limits, Civic Body Approves Plan

Varanasi Municipal Corporation approves shifting all city meat and fish shops to designated outskirts zones to improve sanitation.

Varanasi Municipal Corporation makes phased plan to relocate meat and fish markets to outskirts

In the first phase, five strategic locations, Ramnagar, Sujabad, Ganeshpur, Avleshpur, and Shivpur, have been identified to host these markets.

CPM criticises Andhra Pradesh Coalition Government on completion of two years

CPI(M) leaders accuse the Andhra Praadesh government of prioritising corporate interests over public welfare as they mark the two-year milestone in power

Market rout: 7 of top-10 valued firms see Rs 1.25 lakh crore erosion

The combined market valuation of seven of the country's top-10 most valued companies declined by Rs 1.25 lakh crore last week.During the same period, the Sensex fell 532.4 points, or 0.71 per cent, while the Nifty slipped 181.05 points, or 0.76 per cent.Among the major laggards, Reliance Industries Limited saw the sharpest erosion, with its market capitalisation falling by Rs 39,718 crore to Rs 17,47,321.40 crore.The stock continued to remain the most valued listed company in the country despite the decline.Tata Consultancy Services also witnessed a significant drop in valuation, losing Rs 20,134.66 crore to settle at Rs 7,95,346.09 crore.Similarly, Bharti Airtel saw its market capitalisation decline by Rs 18,736.04 crore, bringing it down to Rs 10,96,150.49 crore.Infrastructure major Larsen & Toubro also faced pressure, with its valuation slipping Rs 16,880.2 crore to Rs 5,43,956.44 crore.Insurance giant Life Insurance Corporation of India lost Rs 14,610.74 crore, taking its market value down to Rs 5,05,873.32 crore.In the financial sector, Bajaj Finance saw a decline of Rs 9,681.36 crore, while Hindustan Unilever Limited lost Rs 5,909.23 crore in market capitalisation over the week.However, a few large-cap banking stocks provided some support to the market. State Bank of India gained Rs 12,692.09 crore in valuation, rising to Rs 9,02,523.63 crore.ICICI Bank added Rs 4,484.86 crore to its market capitalisation, while HDFC Bank climbed Rs 4,101.47 crore, taking its valuation to Rs 11,50,743.31 crore.Despite the mixed performance, Reliance Industries retained its position as the most valued domestic company, followed by HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Tata Consultancy Services, Bajaj Finance, Larsen & Toubro, LIC and Hindustan Unilever among the top-10 firms by market capitalisation.

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.

Contempt plea moved against former Chennai Corporation Commissioner Kumaragurubaran

A disability rights activist accuses Kumaragurubaran of having wilfully disobeyed a court order for rectification of bollards that hinder free movement of wheelchairs

Jeff Bezos wants people to stop blaming Airbnb for high rents in New York city

Jeff Bezos argued on CNBC that government policies limiting housing supply, not Airbnb, are the primary drivers of high rents in New York City. He cited zoning and permitting restrictions as key factors, stating that subsidizing demand while constraining supply inevitably leads to soaring prices. Bezos also criticized corporate welfare and special tax provisions as forms of crony capitalism.

Infosys, Adani Enterprises, Trent among 44 stocks going ex-date this week. Do you own any?

As many as 44 stocks including Infosys, Adani Enterprises, Adani Ports, Canara Bank, PNB and several others will turn ex-date for various corporate actions, including dividends, bonus issues, stock splits and rights issues this upcoming week between June 8 and June 12. Investors must hold shares of these companies in their demat accounts on the record date to be eligible for the respective corporate actions. The list remains tentative, as more companies may announce record dates for dividends, bonus issues and stock splits during the week.Here is a day-wise list of corporate actions to watch out for this week: June 8 (Monday)The week kicks off with three companies undergoing corporate adjustments: Unified Data-Tech Solutions shares will turn ex-date for an interim dividend of Rs 5.5 per share. Ravindra Energy and Consecutive Commodities meanwhile will trade ex-date for rights issue of equity shares.June 9 (Tuesday)Inox India shares will trade ex-date for a final dividend of Rs 2 per share. Tata Group company Nelco meanwhile had also fixed June 9 as the record date for its final dividend of Rs 1 per share.June 10 (Wednesday)Several major companies turn ex-dividend, alongside a bonus issue on June 10. India's IT bellwether Infosys will turn ex-date for its final dividend of Rs 25 per share. Indian Bank and Seshasayee Paper & Board will also trade ex-record date for their respective dividends of Rs 18.25 per share and Rs 2 per share.Tata Group has fixed Wednesday as the record date to determine the eligibility of shareholders for dividend payments by three of its companies. These include Tata Chemicals (Rs 11 per share), Tata Investment Corporation (Rs 3.4 per share) and Tata Elxsi (Rs 75 per share).Gautam Exim shares meanwhile will go ex-bonus for its 3:1 bonus issue (three new bonus shares for every one existing share held).June 11 (Thursday)Specialized chemical player Sunshield Chemicals will be the lone counter turning ex-date on Thursday for a final dividend of Rs 3 per share.June 12 (Friday)Friday will see 31 stocks tuning ex-record date for their respective corporate actions. These includes five Adani Group companies, namely ACC (final dividend of Rs 7.5 per share), Adani Enterprises (final dividend of Rs 1.3 per share), Adani Ports and Special Economic Zone (final dividend of Rs 7.5 per share), Adani Total Gas (final dividend of Rs 0.25 per share) and Ambuja Cements (final dividend of Rs 2 per share).Four Tata Group companies also have June 12 as the record date for their dividends. These include Tata Motors (final dividend of Rs 4 per share), Tata Steel (final dividend of Rs 4 per share), Trent (final dividend of Rs 6 per share) and Voltas (final dividend of Rs 4 per share).Other stocks which will turn ex-record dates for their respective dividends include Canara Bank (Rs 4.2 per share), JM Financial (Rs 1.75 per share.), ICICI Prudential AMC (Rs 12.4 per share), PNB (Rs 3 per share), Piramal Finance (Rs 11 per share), Apcotex Industries (Rs 5.5 per share), Avantel (Rs 0.2 per share), Cemindia Projects (Rs 3 per share), Eimco Elecon (Rs 4 per share), Elecon Engineering Company (Rs 1.5 per share), High Energy Batteries (Rs 3 per share), Lloyds Metals & Energy (Rs 1 per share), MM Forgings (Rs 4 per share), Navin Fluorine (Rs 8.6 per share), Orient Cement (Rs 0.5 per share), Oseaspre Consultants (Rs 87 per share), Panchsheel Organics (Rs 0.8 per share), Petronet LNG (Rs 3 per share), Reliance Industrial Infrastructure (Rs 3.5 per share) and Technojet Consultants (Rs 87 per share).Mobavenue AI Tech shares will trade ex-split as it sub-divides its equity shares from a face value of Rs 10 down to Rs 2 per share. City Union Bank shares meanwhile will trade ex-bonus for a 1:3 bonus issue (one new bonus share for every three shares held)(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

World’s hottest market has Korea bulls reaching for protection

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)

CBI widens probe into ₹661 crore fund scam

The CBI has conducted searches at six locations in Chandigarh, Panchkula and Delhi-NCR in connection with an alleged Rs 661 crore fraud involving the siphoning of government funds from departments of the Haryana government and the Chandigarh administration, officials said on Sunday. The searches were carried out on Friday at premises linked to senior Haryana cadre public servants and Noida-based Vipam Consultancy Pvt Ltd and its director as part of an ongoing probe into the alleged misappropriation of funds parked with IDFC First Bank and AU Finance Bank, an official statement said.Also read: IDFC First Bank fraud was isolated case involving collusion: KPMG According to the agency, the fraud affected eight departments of the Haryana government and two departments of the Union Territory of Chandigarh - Municipal Corporation Chandigarh and Chandigarh Renewable Energy and Science and Technology Promotion Society (CREST)."During investigation evidences have surfaced suggesting that the public servants had colluded with bank officials and had facilitated in opening of accounts, transfer of funds and subsequent diversion thereof," the statement said. The agency alleged that the public servants received undue advantages for facilitating the transactions and failing to act against the irregularities. The investigating agency also alleged that Vipam Consultancy Pvt Ltd received proceeds of crime in its bank account, which were later transferred to the personal account of its director. "Incriminating documents, digital devices, property documents and other relevant material were seized during the search operations," the agency said. The probe stems from one case taken over from the Haryana State Vigilance and Anti-Corruption Bureau and two cases originally registered by the Economic Offences Wing police station in Chandigarh.Also read: CBI files first chargesheet in Haryana Rs 504 crore fund diversion caseThe cases relate to alleged criminal conspiracy, misappropriation of government funds and related offences committed in connivance with bank officials and public servants, the agency said.The CBI said it has already filed its first chargesheet before a special court in Panchkula detailing the alleged role of public servants from the Haryana Power Generation Corporation Ltd and Haryana School Shiksha Pariyojna Parishad.The chargesheet also outlined the alleged modus operandi used to siphon off government funds parked with the IDFC First Bank and AU Finance Bank, it said. The investigation is continuing and additional chargesheets will be filed against other accused found involved in the case, it added.

A big lifeline for marginalised Mumbai kids

Mumbai: Beneath a busy flyover in India's financial capital Mumbai, a row of pastel-coloured shipping containers houses an unlikely school serving some of the city's most marginalised children.Despite laws guaranteeing free schooling for children aged six to 14, poverty and migration continue to keep many out of classrooms, particularly in sprawling cities like Mumbai where many families survive through low-paying informal work.Crippling urban poverty also means young children selling knick-knacks on streets are still a fairly common sight at crowded traffic intersections in big Indian cities.But the non-profit that runs the free school is determined to educate its underprivileged cohort, many of whom come from homeless families that barely eke out a living.Wedged between gleaming skyscrapers and busy roads, the "Signal Shala", or traffic signal school, caters to several dozen children who have been left out of the formal education system, according to Bhatu Sawant, founder of the initiative."These children can't go to (a regular) school. So (I thought) let's do this. Let's bring the school to them," Sawant, 45, told AFP.Also read | Major change in buyer behaviour as e-scooters race deeper into BharatIndia runs one of the world's largest public school systems, but government data for 2024-25 still identified nearly 1.2 million children as "out of school", a catch-all categorisation that covers both those who have never been to school or dropped out.Free mealsFor Sawant, India's government-run schools are simply "not flexible enough for these children", while private ones charging exorbitant fees are out of the question.The signal school operates from repurposed air-conditioned containers placed on a narrow strip of land beneath a flyover, where classes and play unfold amid the constant rumble of traffic overhead.Its approach is tailored to the realities of street life.Every morning, the school bus drives through the cramped lanes of Mumbai's slums, picking up students -- a lifeline for parents who can't afford transportation.When the children file in, the first order of business is a shower, as many have no easy access to bathing facilities.Lockers are provided for books and uniforms that otherwise cannot be kept safe or clean while living in slums or on the streets.Three meals are provided free, with school hours longer than normal.Also read | Indian tourists go viral for all wrong reasons. Here's how not to become the next horror storyClasses are split by ability rather than age, with teachers adapting lessons for children who may never have held a pencil before.Older students are also taught basic skills like sitting still, speaking clearly and staying focused.The challenges are particularly acute when it comes to kids from the semi-nomadic Pardhi community, who often do not speak the local language."When the children came here, they didn't know what the days of the week were, what the 12 months were or what the seasons were," said teacher Tejasvi Borade, as the container walls rumbled from the steady stream of cars passing above.Robotics and AIFor the students, the school serves as a sanctuary from the harshness of the real world."I feel very happy seeing the school bus," said 12-year-old Pooja Pawar, whose parents take on odd jobs at construction sites."The school clothes feel nice. The breakfast is good... In school, we make cake... and dance."For others, it represents an opportunity long denied.Balaji Laxman, who once sold tissues at traffic lights to earn a few hundred rupees -- the equivalent of several US dollars -- a day, said the classrooms represent a chance to imagine a different future."I want to become a doctor," Laxman, 12, said with a shy smile.While the school steers many children towards vocational pathways, Sawant said the broader ambition is to ensure they are not left behind in a rapidly changing world."We have to prepare them for the 21st century," said Sawant, who has set up two similar schools on the outskirts of Mumbai which have robotics labs among other facilities."They should know robotics, AI, computers, 3D printing," said the educator who relies on private and corporate donations for funding, with the government helping with the infrastructure."Everything that elite class children are doing well in, they should know all of that."

Whodunit? 100 Surat homes demolished but no one knows who razed them

Over 100 homes were mysteriously razed in Surat's Nashir Nagar, sparking a major controversy. The Surat Municipal Corporation denies any demolition orders, yet officials and police were present. Authorities are investigating this 'ghost demolition,' allegedly to clear land for a private road project, with local MLA demanding strict action.

Gen Z mentors flip corporate learning script

‘There was no way to raise our grievances within Trinamool’, says Ritabrata Banerjee

Rebel Trinamool leader Ritabrata Banerjee says the grassroots party created by Mamata Banerjee has been hijacked by Abhishek Banerjee and corporate brokers; he rejects allegations that the BJP engineered the split, and reiterates that his faction will remain anti-BJP; he also hints at a possible rebellion among Trinamool MPs, saying ‘courage is contagious, it will travel from Kolkata to Delhi too’

YSRCP leader Sajjala accuses A.P. govt. of depriving minorities of welfare

The current administration has failed to deliver on Haj assistance commitments, weakened the Minority Finance Corporation, and endangered Waqf properties while treating minorities as a vote bank, he says