뉴스

What's Behind The Ujjwala Gas Subsidy Cut? Govt Points To LPG Diversion Racket

Sources said, the Ujjwala gas cylinder cap decision has been taken to prevent misuse of the scheme and stop the diversion of subsidised cylinders meant for beneficiaries.

Mid and smallcaps get the money as Nifty lags

The Advance-Decline Ratio (ADR), a widely watched indicator of overall market health, was above one for May, pointing to growing investor confidence in mid and small-cap stocks despite weakness in the headline index.The monthly average ADR reading of all BSE stocks continued to remain strong as the ratio remained above one for two consecutive months. In May, the ratio was at 1.06 while the reading was at 1.5 in April, the highest since June 2020 in nearly six years. In June, the ratio has advanced to 0.86 as of Monday."The domestic investors continued to pump money into equities and midcaps typically attract retailers," said Jay Vora, technical analyst, Mirae Asset Sharekhan. "The large-caps however, bore the brunt of the foreign sell off," he said.The Nifty Midcap 100 index hit a record high in May and jumped 3.2% during the month, while the Nifty Smallcap 100 index rose 0.7%. The benchmarks Nifty and Sensex fell 2% and 2.8% respectively."Benchmark Nifty and the smallcap index remained 8-9% away from their peaks in May, while the midcap index scaled a fresh new high in the month," said Nilesh Jain, VP-head of Technical and Derivative Research, Centrum Finverse."This led to the divergence between the advance-decline ratio and benchmark Nifty," Jain said. 131599534Jain added that the smallcaps had slumped 24% from peaks but recovered almost 20% signaling that the rebound could sustain.An advancing Advance-Decline Ratio means more stocks are gaining and points to a strengthening market. While benchmark Nifty is likely to remain in a range, the broader market is expected to relatively outperform."The midcap index is holding above its breakout levels in May, and the momentum seems to be picking up in the smallcap index as well," said Vipin Kumar, AVP Equity Research & PMS (Derivatives & Technical Analyst), Globe Capital Market. For the Nifty Midcap 100, gains could extend to 63,500 levels while the Smallcap 100 index is expected to test its record high around 19,600 in June, he said."The midcaps and smallcaps are likely to outperform while the Nifty is anticipated to remain in a range with a negative bias," said Jain. "The largecaps are not looking promising currently and are likely to remain under pressure," he said.

Unity in diversity: On the INDIA bloc meeting

INDIA bloc is more divided than before, allowing the BJP to push ahead

India's much N-eeded in energy mix

Over the past decade, GoI has expanded investments in solar power, wind energy, transmission infrastructure and pumped hydro storage. Electric mobility initiatives and domestic battery manufacturing programmes are also being promoted as part of a broader strategy to reduce oil dependence.Recent geopolitical developments in the Gulf, which largely supply India's crude and LPG needs, have brought renewed focus to nuclear energy as a stable domestic source for baseload electricity. A milestone in India's nuclear programme was achieved in April, when a prototype fast-breeder reactor (PFBR) at Kalpakkam in Tamil Nadu attained first criticality. Developed indigenously by Bharatiya Nabhikiya Vidyut Nigam Limited (BHAVINI), the 500 MWe reactor marks India's formal entry into the second stage of its 3-stage nuclear programme envisioned by Homi Bhabha.Also a welcome development is the latest news of GoI reportedly considering measures that include assured power purchase agreements (PPAs), to attract private sector investments in the nuclear energy sector. It is also reportedly preparing to notify rules under SHANTI (Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India) Act 2025.India's nuclear strategy has been designed around the country's resource profile. While it has limited uranium reserves, it possesses some of the world's largest thorium deposits. The 3-stage programme was conceived to enable large-scale utilisation of thorium for power generation.Thorium is not a fertile or fissile material, and has to be converted to fissile Uranium-233 in a FBR. The third stage aims to use U-233-based reactors for sustained energy generation. PFBR is important for the eventual thorium utilisation. India's thorium reserves, largely located in coastal monazite sands in Kerala, Tamil Nadu, Andhra Pradesh and Odisha, are seen as a potential long-term strategic energy resource.Another significant development came with the passage of the aforementioned SHANTI Act last December. It modernises India's nuclear legal and regulatory framework, and allows limited private sector participation in nuclear projects.Traditionally, India's nuclear sector has been dominated by state-controlled entities. The Act is intended to streamline approvals, encourage investment, and support domestic manufacturing and technological partnerships. Reforms reflect recognition that achieving large-scale nuclear expansion will require both public and private participation.Bhabha Atomic Research Centre (Barc) is developing several advanced reactor designs, including 200 MWe Bharat Small Modular Reactor (BSMR-200), 55 MWe SMR-55, and a high-temperature gas-cooled reactor (HTGR) intended for hydrogen production. SMRs are expected to be modular, with modules produced under controlled conditions in a factory and assembled at the site in a short time. They are also expected to be safer, making them acceptable to the public.GoI has indicated that at least 5 indigenously designed SMRs will become operational by 2033. India has set a long-term target of achieving 100 GW of nuclear power capacity by 2047. At present, the country's installed nuclear capacity stands at about 8.7 GW, contributing around 3% of total electricity generation. Coal continues to account for nearly 70% of electricity production. Achieving the 100 GW target would require substantial expansion in infra, manufacturing, financing and human resources.The Strait of Hormuz disruption has reinforced the importance of diversifying India's energy mix and reducing exposure to external supply shocks. The current policy direction reflects a combination of RE expansion, electrification, domestic manufacturing and renewed emphasis on nuclear power.The broad objective of improving energy security through a diversified and domestically supported energy system must remain a central policy priority. RE, along with energy storage required to balance it, remains the major first step. Electricity can substitute fossil fuels in many sectors. Coal can be replaced by nuclear as a baseload supplier.Nuclear projects involve high upfront capital costs and long construction timelines. Land acquisition and public acceptance remain sensitive issues. Waste management, safety regulation and development of skilled technical manpower will require sustained institutional support.Thorium-based technologies, although strategically important for India, have not yet been deployed commercially at scale in the world. Policymakers will need to balance investments across nuclear, solar, wind, storage and grid modernisation to ensure affordability and energy security.SHANTI Act, PFBR, investment in SMRs and increased private participation suggest that nuclear energy may play a larger role in India's long-term energy strategy than anticipated. We need an integrated policy framework to achieve energy aatmanirbharta.Saini is senior research analyst, and Parikh is chairman, Integrated Research and Action for Development (IRADe), New Delhi

EXCLUSIVE: 'Protecting Consumers PM Modi’s Top Priority': Hardeep Puri On Navigating Energy Crisis

Union Minister Hardeep Singh Puri discusses India’s energy security strategy amid ongoing global crises and geopolitical challenges.He highlights the government’s approach over the past 12 years, including measures for price stabilization, diversification of energy sources, and strengthening supply chains to ensure resilience in times of global uncertainty.The discussion also addresses criticisms, international market pressures, and how India continues to balance affordability with energy security in a rapidly changing global environment. n18oc_indian18oc_worldn18oc_the-hard-factsNews18 Mobile App - https://onelink.to/desc-youtube

Promoter entities sell Rs 153 crore worth shares in Motilal Oswal block deal; HDFC Life picks up stake

Two promoter-group charitable entities of Motilal Oswal Financial Services Limited sold shares worth about Rs 153 crore through block deals on Monday, with HDFC Life Insurance Company Limited emerging as the buyer.According to NSE block deal data, Motilal Oswal Foundation and Motilal Oswal Healthcare Foundation together sold 18.2 lakh shares of Motilal Oswal Financial Services at Rs 842.5 per share. The larger transaction was executed by Motilal Oswal Foundation, which sold 14.55 lakh shares, translating into a deal value of about Rs 122.58 crore.Separately, Motilal Oswal Healthcare Foundation sold 3.65 lakh shares, valued at about Rs 30.75 crore.Together, the two entities sold shares worth around Rs 153.34 crore.The entire stake was acquired by HDFC Life Insurance Company through a corresponding block deal at the same price.The transaction represents a transfer of shares from promoter-linked philanthropic entities to a large domestic institutional investor. There was no immediate indication of any change in the promoter group's controlling stake in the company.Motilal Oswal Financial is one of India's leading diversified financial services firms with operations spanning wealth management, capital markets, asset management, housing finance and investment banking.The company has benefited from the rapid financialisation of household savings and growing participation of retail investors in equities and mutual funds over the past few years. Strong capital market activity and rising assets under management have also supported growth across its key business segments.HDFC Life's purchase reflects continued institutional interest in financial-sector stocks, which remain among the preferred bets for domestic investors amid expectations of sustained growth in India's savings and investment ecosystem.Shares of Motilal Oswal Financial Services are likely to remain in focus as investors assess the implications of the transaction and changes in institutional ownership. The stock has been one of the key beneficiaries of the structural shift of household savings towards financial assets, a trend that market participants expect to continue over the long term.

Government to sell 3% stake in NLC India through OFS, sets floor price at Rs 303

The government on Monday announced an offer for sale (OFS) in state-run NLC India, seeking to divest up to 3% of its stake through a two-day share sale process. The OFS comprises a base offer of 2% equity, equivalent to 2.78 crore shares, along with a greenshoe option of another 1% stake, or 1.39 crore shares, in case of strong investor demand.The government has fixed the floor price at Rs 303 per share, a discount to the stock's previous closing price. Based on the floor price, the government stands to raise about Rs 842 crore through the base offer. If the greenshoe option is fully exercised, the total issue size could increase to around Rs 1,263 crore.The OFS will open for non-retail investors on June 9, while retail investors and eligible employees can bid on June 10. The share sale will be conducted through a separate window mechanism on the BSE and NSE in line with Sebi's OFS framework.The transaction forms part of the government's broader disinvestment programme and comes amid a strong run in PSU stocks over the past few years.NLC India, formerly known as Neyveli Lignite Corporation, is one of India's leading mining and power generation companies. The company operates lignite mines and thermal power stations while also expanding its renewable energy portfolio.The PSU has emerged as a beneficiary of India's rising power demand and the government's focus on energy security. In recent years, the company has diversified beyond lignite mining into solar and other renewable energy projects as part of its long-term growth strategy.The government highlighted NLC India's strong operational and financial performance while announcing the OFS, describing the company as a long-term investment opportunity supported by consistent profitability and dividend payouts.NLC India has maintained a track record of returning cash to shareholders through regular dividends and has benefited from improving plant performance, higher power generation and growth in mining operations.The OFS comes at a time when institutional and retail participation in government stake sales has remained healthy, particularly in profitable PSUs with stable cash flows and attractive dividend yields.Investors will now watch subscription levels closely to gauge demand for the issue, especially given the government's decision to keep a greenshoe option that allows it to sell an additional 1% stake if the offer is oversubscribed.

‘76 days of fuel, no immediate risk’: Oil minister Hardeep Puri bets on reserves, diversification amid global disruption

“In the midst of all this crisis, you have no dry out taking place in any part of the country and you are still exporting,” Puri stated.

Water purifiers fuel a Rs 9,000 crore economy

You do the research, read lists of reviews, compare the filtration stages, and shell out a significant sum for the most promising, tech-savvy water purifier in the market. Then, just two months into installation, the machine starts throwing a series of confusing, flashing signals. The premium buying experience instantly evaporates, replaced by the sheer frustration of tracking down customer care and waiting at home for a technician to show up.In India’s competitive consumer durables sector, this exact friction point has transformed the landscape of water purifiers. The ultimate battle is no longer just about who can build and sell the best machine; it is increasingly about who can maintain trust after the hole has been drilled in the customer's kitchen wall.While the water purifier market is traditionally viewed through the lens of one-time appliance sales, companies like Eureka Forbes, the legacy player behind AquaGuard, are increasingly betting on a far larger opportunity hidden beneath the surface: the recurring service economy built around filters, annual maintenance contracts (AMCs) and nationwide technician networks.According to internal projections by Anurag Kumar, Chief Growth Officer at Eureka Forbes, the water purifier service market alone is on track to cross Rs 9,000 crore by FY30, nearly matching the projected Rs 10,000 crore size of the product market itself.131582773Also read: Beyond the room: Why India Inc's luxury hospitality bet is becoming an experience businessBreaking down the mathFor decades, the consumer durable playbook was simple: manufacture, distribute, sell, repeat. But water purification is far different from selling a television or a refrigerator; it is an active, evolving health product bound to the fluctuating quality of local municipal and groundwater supplies."The market for product categories for water purifiers is about Rs 3,800 crore today," Kumar says in an exclusive interview with ET Online. "I think you would add another, roughly about Rs 3,500 crore of service category as well to it."Citing independent industry reports, Kumar highlighted that by FY30, this parallel economy is set to explode. The product market will expand to over Rs 10,000 crore, while the service and aftermarket ecosystem will chase it tightly at more than Rs 9,000 crore, growing at a combined double-digit compound annual growth rate (CAGR) of 11% to 12%.This shifting weight from hardware to service fundamentally changes corporate strategies. For an industry dealing with an urban penetration rate of just 14% (and a mere 7% nationally), the recurring revenue from existing households forms a highly resilient cash-flow cushion that protects margins even during macro-economic slowdowns.131582808Service scale becomes the biggest moatThe Rs 9,000 crore service opportunity explains why tech-first aggregators and rental startups are rushing into the service category. However, scaling an on-demand service infrastructure across India’s complex geography is entirely different from coding an app.For legacy companies like Eureka Forbes, this operational network has become a major competitive advantage."After sales service can make or break a brand," says Kumar. "I think a lot of the trust that AquaGuard has today is really thanks to the fact that people have trust in our service... It's a very, very important integral part of our business and a very, very crucial moat that we continue to nurture."To defend this moat against new-age tech startups, Eureka Forbes operates at a scale that resembles a logistics company more than an appliance manufacturer. The company has deployed more than 8,000 technicians mapping out an operational footprint across 19,500 PIN codes.Also read: Apple expected to unveil new AI features at last developers conference with CEO Tim CookThe push to reduce maintenance costs"Once you sell a product, then you have it for life and there's some revenue which comes with it," Kumar says, referring to filter replacements, AMCs and servicing requirements.Interestingly, the biggest threat to this recurring service revenue is not new-age competitors, it has been consumer fatigue over high maintenance costs. Historically, the dread of paying steep annual fees to replace purifier filters has acted as a primary barrier keeping the remaining 86% of urban Indian households from adopting organised water purifiers.To beat this, Eureka Forbes pulled off a counter-intuitive strategic gear: they disrupted their own short-term revenue model to secure long-term market share.Last year, the company introduced a range of purifiers featuring "long-life" filters extending the replacement cycle from the traditional 12 months to a full two years."We did that because we fundamentally heard from consumers that there was also a barrier to the category around maintenance cost being high," Kumar reveals. "What two-year filters actually did was they actually lowered the maintenance cost because now you don't have to change filters every year. You have to change once every two years."Digitising a 1980s direct-sales DNAEureka Forbes, a company historically known for its door-to-door service, and making Aquaguard synonymous with water purifiers in India, faced a new piece of necessary upgrade with building digitisation. The multi-billion dollar service landscape required a complete digital overhaul of consumer interactions. The brand that built its empire in the 1980s on the soles of direct-sales agents knocking on suburban doors has had to pivot entirely to an on-demand, algorithmic infrastructure.An army of thousands of field technicians is only as efficient as the software directing them. For modern consumers who manage their entire lives via smartphone screens, a bland "technician will visit tomorrow" promise no longer cuts it."We've digitised that service," notes Kumar.The long-term playAs water contamination concerns spike across rapidly expanding urban clusters, the structural demand for pure drinking water will continue to climb, and so for water purifiers.However, as the hardware itself faces gradual commoditisation and intense price competition from newer market entrants, the center of gravity has largely shifted. Where the growth moves nextCapturing a dominant share of the service market is only half the blueprint. As Kumar maps out the strategic trajectory for Eureka Forbes over the next three to five years, the company's growth engine eyes two distinct tracks: aggressive geographic widening and targeted product diversification. Geographically, Kumar notes, the company is bypassing deep rural pockets for the time being to focus heavily on India’s rapidly urbanising Tier-2 and Tier-3 towns. Instead, the company is doubling down on smaller towns where they can immediately deploy their signature localised service infrastructure without stretching their logistics network too thin.Simultaneously, the brand is attempting to de-risk its reliance on the kitchen wall by expanding into adjacent consumer durables. Kumar outlined a product pipeline anchored in high-growth, premium categories, including robotic vacuum cleaners, air purifiers, and household water softeners. The underlying playbook here is pure cross-selling. By utilising the same 8,000-strong technician network to service these newer household appliances, Eureka Forbes is betting that its aftermarket footprint can drastically lower its customer acquisition costs; positioning the legacy firm to evolve from a single-product manufacturer into a broader home-health ecosystem player.

'Petrol In Delhi Cheaper Than Four Years Ago': Hardeep Puri Defends Fuel Price Hikes

Hardeep Puri said India weathered global energy shocks through diversified sourcing and diplomacy, while accusing the opposition of misleading voters on fuel prices.

Rajesh Exports shares hit 5% lower circuit for third session on alleged Rs 15.15 lakh crore fraud

Shares of Rajesh Exports (REL) tumbled 5% to hit the lower circuit at Rs 94.50 on Monday, marking the third consecutive session of sharp losses after market regulator Sebi accused the company of orchestrating an elaborate financial fraud involving alleged revenue inflation of Rs 15.15 lakh crore over the years, personal gold trades purportedly passed off as corporate sales, and investments of Rs 1,035 crore in gold mines.In its findings, Sebi alleged accounting irregularities, diversion of company funds into personal accounts, and a pattern of conduct aimed at misleading investors. The regulator also flagged lapses by the company's auditors and said both Rajesh Exports and its auditors failed to fully cooperate with the investigation.In its 109-page interim order dated June 3, Sebi said its investigation and forensic examination revealed prima facie evidence suggesting that nearly 97-99% of the company's reported revenue may have been inflated. The regulator described the alleged discrepancies as "egregious and unheard of".Pending further directions, Sebi has barred Rajesh Mehta from buying, selling or otherwise dealing in securities of Rajesh Exports. The regulator has also directed the company to fully cooperate with investigators and ensure true and fair disclosure of its financial statements and related-party transactions."The acts of REL constitute a deliberate device, scheme and artifice to mislead and defraud investors dealing in the shares of REL by portraying an inflated and misleading picture of its operational scale, revenue and financial health," Sebi said in its order.The case stems from a shareholder complaint received in March 2024 that raised concerns over substantial trade receivables reflected in the company's accounts. Following a preliminary review, Sebi initiated a detailed investigation covering the period from April 2020 to March 2024 and appointed BDO India Services as the forensic auditor.Besides restricting Rajesh Mehta from dealing in the company's securities, Sebi has directed Rajesh Exports to furnish all pending information sought by investigators within 30 days. The regulator has also ordered the appointment of a new forensic auditor to conduct a more comprehensive review of the company's books and transactions.Rajesh Exports has denied the allegations. In a press release issued on Thursday, the company said the revenues reported in its financial statements were accurate and contended that Sebi's conclusions were based on a misunderstanding between revenue and EBITDA figures at Swiss refiner Valcambi SA, an indirect subsidiary of the company.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

The AI trade trap: Why successful tech stocks are triggering a trillion-dollar market meltdown in Korea, Taiwan

An unprecedented concentration crisis in global technology equities has evolved into a structural trap for investors, triggering a violent "Black Monday" unwind that is reverberating across Asian emerging markets, such as Korea and Taiwan. Active portfolio managers are increasingly being forced to dump their best-performing chip heavyweights because these explosive stocks have grown too large for risk compliance limits.This structural anomaly has distorted regional benchmarks, accelerated a massive migration from active to passive funds, and triggered a historic correction.The structural breakdown manifested in extreme volatility across the region's tech hubs. South Korea’s Kospi index plunged more than 8% shortly after the market opened, triggering a mandatory 20-minute trading halt before narrowing its drop as memory giants Samsung Electronics and SK Hynix rebounded from their session lows.Also Read | Kospi crashes 9%, trading halted for 20 minutes, as chip rout deepens; Samsung, SK Hynix worst hitThe Cycle of Forced SellingThe core of the market distortion lies in a mechanical paradox: As tech giants outperform, active funds are legally or structurally required to trim their holdings to manage concentration risks. Just three mega-cap tech firms—Taiwan Semiconductor Manufacturing Co. (TSMC), Samsung, and SK Hynix—now command nearly a third of the MSCI Asia Pacific ex-Japan Index.The concentration is even more extreme on a national level. TSMC occupies a staggering 41.5% of Taiwan's TAIEX, while Samsung and SK Hynix together comprise 55% of South Korea's KOSPI."We have been forced sellers of TSMC, Samsung and MediaTek," Sam Konrad, investment manager for Asia Equity Income at Jupiter Asset Management, was quoted as saying by Bloomberg. His fund must shed these chipmaking stocks despite explosive year-to-date gains of 52% for TSMC, 159% for Samsung, and 184% for MediaTek.This mechanism creates an institutional dilemma where strong performance mandates divestment, artificially capping the upside for active portfolios trying to beat their benchmarks."As equities continue to outperform, funds will find it increasingly difficult to add exposure, reinforcing a cycle of forced selling and enlarging underweight positions even amid strong fundamentals," Herald Van der Linde, head of equity strategy for Asia Pacific at HSBC in Hong Kong, noted in a research report. HSBC data confirms that TSMC has become the largest portfolio underweight among Asian and global emerging-market funds.Emerging Market Exhaustion and Fund OutflowsData from Elara Securities India confirms that the Global Emerging Market (GEM) trade is experiencing its first major phase of sustained exhaustion since its rally began. GEM fund redemptions expanded to $3 billion, the largest outflow since December 2021, marking a clear breakdown in momentum.The capital flight has extended significantly beyond Korea and Taiwan to hit other major emerging markets. China saw foreign investors pull $3.7 billion, the largest single-week redemption in over a year, while South Korea logged six consecutive weeks of foreign outflows, compounded by a record $27.9 billion foreign portfolio rebalancing outflow.The systemic nature of the unwind is visible in the broader indices. Goldman Sachs data reveals that while the MSCI Asia Pacific ex-Japan index is up 27% year-to-date, it is actually down 4% when South Korea and Taiwan are excluded.This regional distortion has accelerated a massive, unprecedented migration from active stock-picking to passive indexing. Over the last five years, Asia's active funds have suffered $269 billion of cumulative outflows. Meanwhile, passive funds have accumulated $510 billion, with a quarter of that volume arriving in just the last six months."The size of recent inflows into the region’s passive funds... has no precedent across the last 10 years," said William Bratton, head of cash equity research for Asia-Pacific at BNP Paribas Securities.This phenomenon mirrors the “Magnificent Seven” dynamic on Wall Street, where tech giants account for about a third of the S&P 500. However, concentration in Asia has unfolded at a faster and more extreme pace, turning regional indices into concentrated bets on just one or two stocks and undermining the diversification benefits of benchmark investing.Broader Trade ImplicationsThe shockwaves from the AI tech unwinding are bleeding directly into structural commodities and the wider electrification ecosystem. Precious metal funds witnessed $2.8 billion of outflows, driven heavily by gold (-$2.1 billion) and silver (-$910 million, a 12-week high redemption), while energy funds recorded their second consecutive week of outflows. These asset classes had operated as indirect beneficiaries of the global AI infrastructure and electrification trade.Furthermore, Wall Street's nine-week winning streak concluded abruptly following a hot jobs report that ignited fears of a hawkish policy pivot by the US Federal Reserve, sending technology stocks into their largest one-day decline.Despite the steep selloffs, which saw South Korean equities slide 12% and Taiwan fall 6% from their record highs, market opinions remain starkly divided on whether this correction marks a peak or a buying opportunity.Some money managers are exploiting the correction to pivot to alternatives further down the supply chain, like mid-sized semiconductor equipment makers, or shifting money toward cheaper domestic themes like robotics. China's CSI Robot Index actually bucked the broader market declines, rising 1.4%.

Micro-dramas send actors vertically up

India's booming micro-drama industry is giving rise to a new category of performers calling themselves "vertical actors", as short-form storytelling platforms emerge as an alternative to television and streaming services.Actors, producers, and app founders told ET that emotionally charged performances, stronger roles, rapid audience recognition, and the ability to build dedicated fan bases are drawing talent to the format.Established vertical actors typically work on at least three series a month, earning Rs 1-3.5 lakh per project, giving financial security in addition to the recognition, according to producers. Industry executives expect the trend to create bona fide "vertical stars" whose fame is built largely through micro-dramas consumed on mobile phones in portrait mode.One of the key aspects that differentiates a vertical actor from performers in other storytelling formats is the pace, according to micro-drama directors and actors.“Vertical actors are defined by their ability to work at a fast pace,” said Samay Bhattacharya, a director who has helmed four micro-drama series. “They have to understand characters quickly and deliver spontaneous performances under tight production schedules.”Typically, a micro-drama series comprising 50 episodes—each less than two minutes long—is shot at a brisk pace in fewer than 10 days.“I compare acting across different forms of storytelling to driving,” said actor Karanvir Bohra, a major draw in the Indian micro-drama space. “Films are first gear, while television and web series are second and third gear. Then comes content creation in fourth gear. Finally, vertical acting or storytelling is the highest gear. It demands the best performance and impact in the shortest possible time.”Vertical actors said the format has provided them with much-needed recognition despite spending decades in the industry.“The use of close-ups, melodramatic performances, strong cliffhangers, diverse plots and relatively better roles than television in vertical content has brought significant recognition to actors like me,” said actor Piyush Sahdev. “Despite working for more than 25 years across mediums, today I am easily recognised for my micro-drama series The Secret Khiladi.”“Micro-dramas are reviving the careers of many actors. The careers of actors such as Asmit Patel, Omkar Kapoor and Kunal Kapoor have been revitalised,” said Vicky Bahri, producer and founder & CEO of KLIP, a micro-drama app. “In the future, I foresee bona fide ‘vertical stars’ known for their micro-drama work, given the high viewership numbers.”Vertical actors also view micro-dramas as a way to build an audience base for their work in longer storytelling formats.“Micro-drama content reaches pan-India audiences,” said actor Rajniesh Duggal, known for his debut film 1920. “By working as a vertical actor, I am building my own audience base. This very audience will come to watch my films in theatres. This is one of my chief motivations."

IDFC First Bank shares fall after CBI conducts searches, lender shares update on Rs 646 crore fraud case

The shares of IDFC First Bank fell nearly 1% on Monday morning after the Central Bureau of Investigation (CBI) conducted searches in six locations, while the private lender announced that it has received the forensic review report from KPMG regarding the fraud case worth Rs 646 crore at one of its branches in Chandigarh.CBI conducted searches at six locations in Chandigarh, Panchkula and Delhi-NCR in connection with the alleged fraud case involving the siphoning of government funds from departments of the Haryana government and the Chandigarh administration.The searches were held 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 | CBI conducts searches in Rs 661 crore IDFC First Bank-AU Finance Bank fraud case"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.KPMG's forensic reviewIn an exchange filing released in the post-market hours of Friday, IDFC First Bank said that KPMG's review reaffirmed that the incident arose from collusion involving certain employees or former staff at the branch, some state government employees along with certain third parties. It reiterated that the net principal amount of Rs 646 crore was reported as part of the alleged fraud case.Also Read | IDFC First Bank fraud was isolated case involving collusion, says KPMG“The Bank paid the aforesaid amount and applicable interest to the concerned departments and has recognised the same in the books of accounts in Q4 FY26. The Bank is a victim of this financial fraud and is working with investigative authorities,” IDFC First Bank said.Fraud at IDFC First Bank's Chandigarh branchIDFC First Bank had announced that it has discovered an incident of alleged fraud by some employees at one of its Chandigarh branches in February, involving accounts related to the Haryana government. The lender had received a request from one of the departments of the Haryana government to close its account and transfer funds to another bank. While reviewing the request, it found some discrepancies in the amount mentioned against the balance in the account. This led to a massive 16% crash in the private lender’s share price, to record its worst single-day plunge since March 2020.IDFC First Bank share priceIDFC First Bank shares fell nearly 1% to trade at Rs 71.64 apiece on Monday. The stock is down 16% in 2026 so far. The shares of the company have however gained over 1% in the past one week. The company currently has a market capitalisation of nearly Rs 62,000 crore.Also Read | Why is market crashing today? 7 factors behind selloff(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Sensex down over 10K points from Dec peak. Should MF investors pause SIPs?

With the benchmark index - BSE Sensex down by over 10,000 basis points to a level of 74,243 as of June 6, 2026, has left many investors wondering whether to continue SIPs and lump-sum investments during the current market decline, hold current positions or wait for greater clarity on market direction?Market experts believe that investors should see this 10,000 point correction as a buying opportunity rather than a reason to panic.Vishal Dhawan, Founder & CEO, Plan Ahead Wealth Advisors told ETMutualFunds that investors should view this 10,000-point Sensex correction as a long-term buying opportunity as market drawdowns are natural processes that shake out speculative premiums, resetting valuations to fundamentally healthier levels.Also Read | Multicap or flexicap mutual fund for a 20-year SIP? Expert explains what investors should choose “Long-term investors can continue their Systematic Investment Plans (SIPs) and hold current positions firmly. Pausing allocations to "wait for clarity" is a psychological trap that historically locks investors out of the sharpest days of a market rebound.”Dhawan further said that while regular SIPs are key to an investment journey, panic selling must be completely avoided; use this market decline to methodically build an equity baseline designed to reward your patience when economic sentiment inevitably swings back to optimism at some point in the future and it is critical to have a minimum 5-7 year investment horizon whilst investing.Echoing a similar opinion of considering this as a buying opportunity rather than a reason to panic, Amitabh Lara, Executive Director, Anand Rathi Wealth Limited shared with ETMutualFunds that for long-term investors, this is not the time to stop investing.Amitabh further said that continuing SIPs during a fall can actually work in your favour because the same investment amount buys more units at lower prices and one of the biggest mistakes investors make is stopping SIPs during a correction and returning only after the recovery has already happened.The benchmark index which touched a peak of 84,391 on December 10, 2025, is now down by nearly 10,148 points to a level of 74,243 as of June 6, 2026.As the market becomes volatile, investors as well as the fund managers keep cash in hand and wait for the opportunity to deploy it in the market but with a dilemma whether to deploy cash immediately or stagger investments over time.Amitabh said that if investors have idle cash available then they can go ahead and invest as a lumpsum and funds can be deployed in a staggered manner through tranches, over 6 to 8 weeks. “It also removes the stress of trying to time the exact bottom. If they have SIPs, they can continue it without worrying about the market level and take advantage of rupee cost averaging.”Dhawan said that for investors sitting on cash, a staggered deployment strategy via a 6-month to 12 month Systematic Transfer Plan (STP) is highly recommended as this approach could hedge your principal against intermediate downside volatility.He further said that investors should avoid deploying an absolute lumpsum at current levels, as picking the exact market bottom is a statistical myth and tranche-based buying ensures you average out your entry costs across multiple lower price bands smoothly.“Park your liquid capital in low-duration instruments and systematically route it into equity. This automated execution effectively replaces portfolio anxiety with disciplined benefits. In case you wish to deploy a lumpsum, and not do a STP, an investment in the Balanced Advantage category is suggested.” Dhawan said.How equity categories performedETMutualFunds checked the performance of equity mutual funds since December 10, 2025. Small cap funds have delivered an average return of 6.06% since the date BSE Sensex touched the new peak, followed by mid cap funds which gave an average return of 2.58%.Also Read | Nippon India Mutual Fund limits subscription in Gold BeES and gold savings fund In contrast, the counterparts, large cap funds gave a negative average return of 6.26% since December 10, 2025. Multi cap funds gave an average return of 0.06% whereas flexi cap funds fell 2.95% on an average in the said time period.Out of 10 equity categories, only three gave positive average returns which were small caps, mid caps and multi caps whereas the other categories such as large caps, contra funds, ELSS, flexi, focused, value and large & mid caps gave negative average returns.Which market-cap segment could lead the recovery?Dhawan said that large-cap stocks are typically best positioned to lead the initial recovery wave when domestic and foreign institutional flows return and their robust cash flows, operational scale, and institutional backing provide an essential fundamental moat.He further said that mid-caps may require stock-specific elements to perform, as many names went up significantly during the previous bull cycle; small caps should be approached with high caution and patience, as they remain prone to sharp liquidity outflows during market corrections. “Limit small-cap exposure if you can handle the volatility and have a longer time horizon of 7-10 years for mid and small caps.”Lara said that small caps appear to have the most room for upside when markets recover. Currently, Nifty Smallcap 250 is trading about 17.4% below its fair value, compared with 9.6% for the Nifty Midcap 150 and around 5-9% for large-cap indices. Hence, small caps have corrected more than large caps and mid caps relative to their earnings potential.He further said that investors can have a balanced exposure across market caps, with 55% in large caps and the rest in mid and small caps to be a part of the eventual recovery that will follow in the markets.BSE Sensex: In the last six months, the index was down 13.38% and in the nine months, it was down 8.01%. In the last one year, Sensex was down 8.83% whereas in the last three years and five years it was up 5.74% and 7.33% respectively.Sector allocation becomes particularly important during market corrections as valuation gaps emerge across industries. The question is whether investors should actively target beaten-down sectors or focus on broader diversification.In response to this, Lara said investors should avoid investing in single sectors or making sectoral bets as performance in sectors/themes is highly cyclical. For example, in 2024, the pharma & IT sectors were part of the best-performing sectors, however, they both turned into worst-performing sectors in 2025, which suggest that entry and exit at the right time play a crucial role in making investments in the sectorial/thematic funds.Also Read |HDFC Mutual Fund limits subscription in its gold ETF and FoF. What this means for investors? During such corrections, it would be more beneficial for investors to invest in diversified categories of equity mutual funds to get exposure to all sectors and benefit from their performance, rather than focusing solely on any single sector, Lara further said.Dhawan said to prioritize accumulating high-quality banking and financial services funds as these segments offer good earnings visibility, corrected price multiples, and fundamentally strong underlying balance sheets.He further said systematic accumulation of Information Technology (IT) funds could be attributed to these deep valuation resets as they are cash-rich franchises with low debt. However, they do face business model risk. Conversely, stay away from Utilities and capital goods as valuations look well above their long term averages.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)If you have any mutual fund queries, message on ET Mutual Funds on Facebook/Twitter. We will get it answered by our panel of experts. Do share your questions on ETMFqueries@timesinternet.in along with your age, risk profile, and Twitter handle.

Tata Steel shares dip over 2% as UK project may face 6-8 month delay amid electricity access issues

Shares of Tata Steel fell 2% to Rs 202 on the BSE on Monday amid reports that it may have to push back the commissioning timeline of its 1.25-billion-pound low-carbon steel project in the UK by six to eight months due to delays in obtaining access to the required electricity infrastructure.The company is building a 3.2 million-tonne electric arc furnace (EAF) at Port Talbot as part of its decarbonisation strategy. The project, which involves an investment of 1.25 billion pounds, is intended to replace the site's blast furnace operations of similar capacity that have now been shut down.Before the latest setback, Tata Steel had been targeting the start of operations by late 2027 or early 2028. However, delays linked to the power connection process have created uncertainty around that timeline, a news report by PTI stated. Koushik Chatterjee, Executive Director and Chief Financial Officer of Tata Steel, said the company has been working with the Electricity System Operator (ESO) and National Grid on the new electrical infrastructure. However, National Grid has formally informed Tata Steel that its connectivity project is running behind schedule.According to Chatterjee, National Grid has flagged potential delays compared with the originally planned date for the high-voltage power connection. He said Tata Steel is engaging with all stakeholders, including the UK government, to minimise the impact and establish revised timelines, the report added. The company said major demolition work at the Port Talbot site has already been completed, while fabrication and delivery of equipment continue to progress. Access to higher-capacity electricity remains a critical requirement for the transition to electric arc furnace-based steelmaking.The project has secured 500 million pounds of support from the UK government and is expected to cut site-level carbon dioxide emissions by 90%, equivalent to around 5 million tonnes annually. Separately, the Port Talbot project site witnessed a fire incident on June 3. Tata Steel UK said on Thursday that all personnel were safely evacuated and accounted for, with no injuries reported. Chatterjee said Tata Steel is continuing discussions with National Grid and the UK government to address the issue and explore ways to reduce the delay."We are working with the UK government, the National Grid and ESO, which is the electricity supplier, to see if we can mitigate it, but somewhere between six months to eight months will certainly be there, maybe higher, after we have built the plant," he said while responding to a question on potential delays in commissioning the facility.He added that the company is evaluating options to shorten the delay but acknowledged that some slippage in timelines now appears unavoidable. "We are actively working to see if we can reduce it further, but there will be some imminent delays," Chatterjee said, without providing additional details.In May 2024, Tata Steel signed a connection offer agreement with the Electricity System Operator. Under the arrangement, National Grid is responsible for building the electrical infrastructure required to power the 3.2 million-tonne electric arc furnace by the end of 2027.According to information shared by Tata Steel, the National Energy System Operator (NESO) is a public body that oversees the connection process, including the connection contract with Tata Steel UK, and manages electricity grid operations across the UK.National Grid Electricity Transmission (NGET), meanwhile, is the private company responsible for constructing, owning and maintaining the connection infrastructure.Tata Steel Group is among the world's leading steelmakers, with an annual crude steel production capacity of 35 million tonnes. The company also ranks among the most geographically diversified steel producers globally.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Considerable emphasis put on developing Swadeshi jurisprudence: CJI Surya Kant

The Chief Justice of India describes ‘Swadeshi jurisprudence’ as one that remains attentive to India’s constitutional values, institutional realities, linguistic diversity, and social conditions. Serious efforts are underway to explore establishing an indigenous AI ecosystem for the judiciary, he says.

Traffic diversions announced around Jubilee Hills for H-CITI flyover, underpass works

Commuters have been urged to avoid peak traffic hours between 8.30 a.m. and 11 a.m. and between 5 p.m. and 9 p.m.

Flow diverter treatment cures 100 brain aneurysm patients at Kozhikode MCH

Traffic diversions for Fish Prasadam event in Hyderabad’s Nampally on June 8-9