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Hyderabad man secures a place in Guinness World Record

Goyal Veparala was part of the ensemble as Hallel Music School celebrated the achievement at the ‘Guinness Achievers Meet’

OPEC+ increases production quotas for July

Vienna, OPEC+ ministers decided Sunday to increase oil quotas by a total 188,000 barrels per day for July, in a move analysts said would be unlikely to have an impact on prices sent higher by the Mideast war.Jorge Leon, analyst at Rystad Energy, said ahead of the expected increase that it "means very little while the Strait of Hormuz remains closed".He added: "The market is not short of quota announcements; it is short of physical barrels that can actually move. In that sense, the 188,000 barrels per day increase would be more of a policy signal than a real supply boost."The hiked production output was agreed Sunday in a video meeting of oil ministers from key OPEC+ countries Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman, a statement from the organisation said.The increase was similar to ones decided in previous months.The OPEC+ statement said the latest agreed hike was "to support oil market stability" but that the seven countries also saw an opportunity "to accelerate their compensation" in a time of historically high oil prices.It added that the ministers "reaffirmed the importance of adopting a cautious approach and retaining full flexibility to increase, pause or reverse the phase out of the voluntary production adjustments, including reversing the previously implemented voluntary adjustments announced in November 2023".Leon, at Rystad Energy, said that OPEC+ was wary in case the Mideast war changes, and Iran's stranglehold on the Strait of Hormuz eases."When the Strait of Hormuz reopens, the market could move very quickly from fear of shortage to fear of surplus," he said."Returning OPEC+ supply, a stronger US shale response and weaker demand after a period of very high prices could leave the market with a very large oversupply problem," he said.

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)

Centre Organises 'MY Bharat Youth Convention' In Delhi To Celebrate Young Achievers

In line with PM Modi's vision of empowering youth as the driving force behind the country's growth, the event saw the participation of over 6,000 attendees from across the country

NASA reverses evacuation alert order

'We are making lot of money with India': Trump claims US has 'reversed' trade gains

US President Donald Trump expressed optimism about reaching a trade agreement with India soon, stating that the previous trade imbalance has now reversed. Both nations have been engaged in constructive negotiations, aiming to finalize an interim trade pact while broader discussions continue. Despite ongoing talks, concerns remain regarding potential US tariffs on imports from several economies, including India.

‘India took advantage of the US for years’: Trump says trade deal with ‘good friend’ PM Modi soon

Donald Trump said India previously imposed high tariffs on US goods but added that the situation had now reversed.

Kannada Sahithya Academy to release 54 books on women achievers from Karnataka today

Kannada Sahithya Academy shortlisted 54 women personalities from across the State and also shortlisted people who can write books on the life and achievements of these personalities

Market wrap: Sensex closes flat, Nifty holds 23,400; Titan, Eternal lead gains

The Indian stock market closed nearly flat, with Sensex and Nifty ending the session in the green with marginal gains after seeing sharp upswings and downswings during the day.Sensex rose nearly 14 points to close at 74,360, while Nifty 50 rose around 11 points to end the session at 23,417, nearly unchanged from the previous session. This came as India VIX, which measures volatility in markets, fell over 3% to 15.77.Titan shares jumped 4% to lead gains on Sensex, while Zomato-parent Eternal jumped 3% to follow. ITC, Tech Mahindra, SBI, Bharat Electronics and ICICI Bank shares meanwhile gained around 1% each. On the other hand, Infosys, Bajaj Finserv, UltraTech Cement, Adani Ports and Tata Steel shares dropped around 15 each.Broader markets closed with higher gains, with Nifty Midcap 100 and Nifty Smallcap 100 indices gaining around 0.5% each. Sectorally, Nifty Consumer Durables rallied more than 2%, while Nifty Metal declined 0.7%. Around 1,817 stocks advanced on NSE, while 1,474 declined and 105 remained unchanged.Rupee watchNotably, investors now await the outcome of the Reserve Bank of India’s Monetary Policy Committee's (MPC) meeting tomorrow. Meanwhile, rupee closed at 95.7850 per U.S. dollar, from 95.7050 on Wednesday.FIIs net sold Indian shares worth Rs 5,617 crore on Wednesday, according to data on NSE. They have net sold Indian equities worth more than Rs 39,625 crore in just four consecutive sessions.India may scrap capital gains tax on FPI investments in govt securitiesThe Indian government is planning to scrap capital gains tax on investments in government securities by foreign portfolio investors (FPIs), a move which will likely shore up overseas capital inflows into the country, The Economic Times reported citing people familiar with the matter.The Cabinet, in a meeting chaired by Prime Minister Narendra Modi on Wednesday, approved the promulgation of an ordinance to amend the Income Tax Act to pave the way for this exemption, sources further told The Economic Times, adding that a notification is expected soon after the President gives her assent to the ordinance.What lies ahead?On Thursday, the benchmark index Nifty opened with a gap-down. However, the index staged a recovery from lower levels and eventually closed on a flat note. Notably, this marked the third consecutive session where Nifty found support near its prior swing low and rebounded thereafter, said Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities. He however added that a sustained follow-up move on the upside is still required to confirm a potential reversal.“At present, the index continues to trade below its key moving averages, while momentum indicators suggest a sideways trend. The daily RSI has been oscillating within a narrow range for the last 40 trading sessions, in line with the RSI range shift rules, indicating lack of directional strength,” he said.Going ahead, Shah expects the 23,550–23,580 zone to act as an important hurdle for Nifty 50.. A sustained move above the 23,580 level could trigger an extension of the ongoing pullback rally, potentially paving the way towards the 23,700 mark, he said. On the downside, he sees 23,330–23,320 zone as likely to serve as a crucial support area.(With inputs from agencies)(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Jefferies initiates coverage on Poonawalla Fincorp with Buy rating. Why are analysts bullish?

International brokerage firm Jefferies started coverage on Poonawalla Fincorp with a Buy rating and a target price of Rs 490, implying an upside of 23% from current market levels, citing positive levers of growth. Jefferies says the company is well positioned to accelerate growth under its revamped leadership team, expanding product portfolio, wider distribution network and sharper underwriting practices. The brokerage expects the company to deliver a 33% AUM CAGR, the fastest among major NBFCs, supported by an improving loan mix, better net interest margins and lower credit costs driven by reduced slippages and a healthier portfolio mix. Analysts also forecast a sharp improvement in profitability, with RoA/RoE expected to expand to 16% by FY29 from 6% in FY26, which it believes should support the stock's premium valuation multiples. The brokerage cited the company's ongoing strategic transformation under CEO Arvind Kapil, former head of retail and mortgage banking at HDFC Bank as a positive. The brokerage highlighted the leadership overhaul, with seven of nine CXOs coming from HDFC Bank, alongside the launch of six new products including prime personal loans, commercial vehicle loans, gold loans and education loans. These new segments have already scaled to 14% of AUM within a year and are expected to contribute 34% of AUM over time. Jefferies expects the company to deliver a 33% AUM CAGR during FY26-29, supported by investments in distribution, collections, technology and AI, as well as its AAA credit rating and backing from the Adar Poonawalla Group.The brokerage expects margins to improve as the company shifts toward higher-yielding products. After contracting by 250 basis points over the past two years due to the run-down of its legacy personal loan portfolio, NIMs are projected to expand by around 70 basis points over FY26-29, aided by growth in products such as prime personal loans and gold loans. At the same time, Jefferies expects cost-to-AUM to improve to 3.9% by FY29 from 4.4% in FY26 on the back of operating leverage.Asset quality trends have also strengthened, with gross NPAs declining to 1.4% from 1.8% in FY25, supported by tighter underwriting and the reduction of the stressed legacy personal loan book. Jefferies noted that delinquency levels in loans originated after September 2024 are running about 50% lower than the previous 12-month cohort. It expects credit costs to moderate to 2.2% over FY26-29 from 2.7% in FY26, driven by better portfolio quality and a growing share of lower-risk products such as gold and education loans.Following a Rs 2,500 crore capital raise in April 2026, the company's Tier-1 capital ratio has risen above 19.5%, providing ample room to fund growth. Jefferies forecasts profit after tax to surge to Rs 2,900 crore by FY29 from Rs 540 crore in FY26, while return on assets and return on equity are expected to improve to 2.3% and 16%, respectively, from 1.1% and 6% in FY26. Despite trading at 2.4x FY27 estimated book value and 25x FY27 estimated earnings, the brokerage believes Poonawalla Fincorp's strong growth trajectory and improving profitability justify premium valuations and could support further re-rating if execution remains robust. Key risks include weaker-than-expected execution, margin pressure and higher credit stress.In Thursday’s session, shares of the company are down 1.5% to Rs 394 on the BSE. Poonawala Fincorp shares are down 18% in 2026. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Nifty IT logs best run in a year at 4%; TCS, Infosys lead way

Mumbai: Domestic IT stocks extended rally for the third straight session on Tuesday, driving the Nifty IT index to its biggest single-day gain in a year. Analysts said the index's chart structure remains constructive, signalling continued positive momentum in the near term.The Nifty IT index ended 4.2% higher at 31,116.6 on Tuesday, its highest gains since May 2025. The index is up 7.6% in the past three sessions, against Nifty 50's fall of 1.8%. TCS was the top gainer on Tuesday, up 6.7%, followed by Infosys, HCL Technologies and LTM, which were up 4-6% each."Indian IT stocks continue to extend gains, supported by improving global software sentiment and growing evidence that enterprise AI adoption is expanding technology spending opportunities rather than disrupting incumbent service providers," said Kunal Bajaj, research analyst at Choice Institutional Equities.Bajaj said other factors like rupee depreciation, strong orderbook and improving outlook for discretionary tech spending, are supporting the current rally in IT stocks.131473558IT stocks look strong on technical charts too. "The Nifty IT index has formed a bullish hammer pattern on the monthly chart, signalling a trend reversal," said Ruchit Jain, vice-president, Motilal Oswal Financial Services. "Within the sector, recent moves suggest a mix of short covering in stocks such as TCS and HCL Tech, along with fresh long build-up in Infosys and Coforge over the past three sessions." Despite the recent rebound, domestic IT stocks have underperformed the broader market in 2026, with the Nifty IT index declining 17.9% so far this year against a 10.1% fall in Nifty 50.Jain expects the IT benchmark's up move to extend towards 32,000-32,100, near its April highs. According to Bajaj, tier-2 IT firms have historically gained market share during tech transitions due to their agility. "With valuation premiums cooling, we see better relative risk-reward in Coforge, Persistent Systems and Happiest Minds. Among the tier-one companies, we like Infosys and Tech Mahindra," he said.

'Jeet gaye, kar diya na maine': Rajat Patidar's first words to childhood friend

Moments after RCB’s IPL 2026 victory, Patidar shared an emotional embrace with childhood friend Abhishek Pathrod, saying, “Dekha, jeet gaye. Kar diya na maine." The triumph capped a remarkable rise for the soft-spoken leader, whose calm captaincy and prolific batting helped transform RCB from perennial underachievers into back-to-back champions.

Sensex falls over 400 points, Nifty below 23,250 amid US-Iran tensions, persistent FII selling

Indian stock market traded in deep red on Tuesday, with Sensex and Nifty falling more than 0.5% each as renewed tensions around the Iran-US war, along with persistent FII selling spooked investors.Sensex declined over 415 points to 73,852, while Nifty 50 fell 142 points to 23,240, as seen at 9.17 am. This came even as India VIX, which measures volatility in markets, tumbled 2.5% to 16.13.Bajaj Finance shares were the top losers on the index, falling nearly 3%. Eternal, Bharat Electronics (IBEL), Bajaj Finserv, Trent, NTPC, Power Grid, UltraTech Cement and L&T followed, dropping 1-2%. Bucking the trend, IT stocks including Infosys, TCS, TechM and HCL Tech gained 1-3%.Broader markets underperformed benchmarks, with Nifty Smallcap 100 and Nifty Midcap 100 indices falling around 1% each. Sectorally, Nifty Auto, Nifty Realty, Nifty Consumer Durables and few other indices declined more than 1% each. Bucking the trend, Nifty IT gained nearly 2%. Around 887 stocks advanced on NSE, while 1,650 declined and 97 remained unchanged.The trend of sustained AI trade, new records for markets in US, South Korea and Taiwan, sustained FPI selling in India and India’s underperformance are continuing with no immediate signs of reversal, said VK Vijayakumar, Chief Investment Strategist at Geojit Investments. “To add to India’s problems, the energy shock has led to downward revision of India’s GDP growth and upward revision of inflation this financial year. And now we have the additional threat of the IMD’s latest projection of monsoon rains at 90% of long term average, which will have negative implications for growth and inflation,” he added.A resolution of the West Asia conflict and the consequent dip in crude price will be a big positive, but expectations on that front have been belied and the issue continues to hang fire, the analyst explained. “In these tough times of huge uncertainty and challenges, the ideal strategy for investors is to stick to the basics. Do proper asset allocation based on one’s risk profile and financial goals and wait with patience,” he further said.Iran-US war uncertaintiesIran and US traded strikes, while Israel ordered troops to move further into Lebanon in its battle with the Tehran-backed ‌Hezbollah militant group. The renewed tensions in the Middle East, after Washington ⁠hosted Israel-Lebanon peace ‌talks on Friday, dimmed hopes that the US and Iran could soon announce an extension to their ceasefire, which continues to grow fragile.US President Donald Trump meanwhile took to Truth Social on Monday evening, saying that he persuaded Prime Minister Benjamin Netanyahu to call off the strike on Beirut, following which the Israeli leader "turned his troops around". "I had a conversation with Bibi Netanyahu today (Monday), asking him not to go into a major raid of Beirut, Lebanon. He turned his Troops around. Thank you Bibi," he said, referring to the Israeli prime minister by his widely used nickname.Trump said on Friday he would soon decide on ⁠a proposed deal to extend a ceasefire announced in early April. Israel would be key to any such deal, and Iran has said repeatedly that Hezbollah and Lebanon must be included. The US has proposed a "gradual de-escalation" plan, a US official said on Sunday.Oil prices riseBrent crude futures neared $95 per barrel mark while WTI Crude futures neared $92 per barrel as a result of the recent escalations. This comes after Brent and WTI Crude dropped 19% and 17% in May, recording their biggest monthly fall in absolute terms since March 2020 when the COVID-19 pandemic slashed energy demand.The rising military strikes in the geopolitically fragile Middle East raised worries over the prolonged closure of the Strait of Hormuz, a narrow 33-kilometre waterway connecting the Persian Gulf with the Gulf of Oman that handles over 20% of the world’s daily oil and gas shipments.FII selling continuesForeign investors remained net sellers of Indian equities, net selling shares worth nearly Rs 3,912 crore on Dalal Street on Monday. This came after a massive Rs 22,102 crore selloff in just one session on May 29. Notably, South Korea’s equity market has overtaken India’s as the world’s sixth largest, driven by a relentless surge in chip heavyweights powering the global artificial intelligence buildout.(With inputs from agencies)(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

RCB's rise across IPL, WPL feels closer to the Manchester City model

Royal Challengers Bengaluru's journey from perennial underachievers to champions is complete. With back-to-back IPL titles and two WPL crowns in three seasons, RCB have evolved from a star-driven franchise into a system-driven team. Their journey from one of the teams making up the numbers mirrors the transformation - and success - of Manchester City in England.

Infosys, Tech Mahindra, TCS and other IT stocks jump up to 5%. What’s driving the rally?

Shares of Indian IT companies, including heavyweights Infosys, Tech Mahindra, TCS and Persistent Systems jumped up to 5% on Monday as multiple tailwinds boosted investor sentiment, pushing the Nifty IT index up around 3% to emerge as the top sectoral gainer.The index rose to 29,905 in the morning trading hours of Monday, extending sharp gains for the second consecutive session. The index has now jumped nearly 4% over two days.The sharp surge in IT stocks comes after a significant decline earlier this year, following the launch of plug-ins for AI startup Anthropic's Claude Cowork agent, which could automate tasks across legal, sales, marketing, and data analysis. "We call it the ‘SaaSpocalypse,’ an apocalypse for software-as-a-service stocks," Bloomberg quoted Jeffrey Favuzza from the equity trading desk at Jefferies as saying.While doomsday prophets continue to debate the future of IT companies following fresh AI advancements, investors were quick to analyse the cheap valuations, leading to some pockets of buying. Nuvama, in its note, had highlighted that the IT sector is setting up for a powerful comeback, not a collapse after the brutal AI-driven selloff.“We see no existential threat from Gen-AI,” the brokerage writes, arguing that enterprises will still need a “system integrator” to customise plug-and-play AI and software tools for their highly complex, brownfield technology stacks and to take ownership when “the system fails at 2 am.”Also read: Reports of my death are greatly exaggerated! Why Nuvama is screaming buy on all top 10 IT stocksThe latest round of buying also comes ahead of the Federal Reserve’s policy meeting next month, which would be the first under Chair Kevin Warsh. US President Donald Trump had selected Warsh partly on expectations that he would support lower borrowing costs to stimulate economic growth. However, rising inflation raised questions over the possibility of lowering rates.Technical view on Nifty ITThe Nifty IT index has witnessed a strong rebound after taking support near its crucial support zone, indicating the possibility of a short-term recovery in the sector, Kunal Kamble, Senior Technical Research Analyst at Bonanza had said. “On the hourly time frame, the index is currently forming an inverse Head and Shoulders pattern. A decisive breakout is seen above the neckline of this pattern and has triggered further upside momentum in the index. Such a move is likely to positively impact heavyweight IT stocks that share a high correlation with the index, including Infosys, Tata Consultancy Services, and HCL Technologies,” he added.Technically, the analyst had suggested that if the index manages to sustain above the 29,650 mark, it may open the door for a further recovery towards the 31,280 zone in the near term. However, he added that the current price action appears to be a retracement within the broader trend rather than a complete trend reversal. Therefore, traders should approach the sector with a cautious outlook.“Aggressive or high-risk traders may consider short-term trading opportunities in select IT counters, provided the index maintains strength above key support levels. On the downside, a breach below 28,800 could once again invite selling pressure across the Nifty IT index and associated IT stocks, potentially weakening the ongoing recovery structure,” he said.IT stocksPersistent Systems shares were the top gainers on the Nifty IT index, jumping nearly 5%. Infosys shares followed, surging nearly 4%. Mphasis, Tech Mahindra, LTI Mindtree and Coforge shares gained over 3% each.Also read: Wockhardt shares rocket 19% after FDA approval for antibiotic targeting drug-resistant infectionsTata Consultancy Services (TCS) and OFSS shares jumped around 2% each, while HCL Technologies and Wipro shares gained around 1% each.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Bearish move or buying opportunity? Geojit's Anand James on Nifty levels and top stocks to watch

Market volatility took center stage following a sharp late-Friday sell-off triggered by MSCI rebalancing and global cues. While cautious sentiment prevails, Anand James, Chief Market Strategist at Geojit Financial Services, highlights critical Nifty support levels that could prevent further damage. In this exclusive interview, he breaks down the June series rollover data, IT sector resilience, and top stock picks.Edited excerpts from a chat:The sell-off seen in the last 30 minutes on Friday has scared traders as to what could be in the offing on Monday morning. What do you think?IMD’s below-normal monsoon forecast and uncertainty over US-Iran talks in the backdrop gave an ominous feel to the drop that unfolded towards Friday’s close. However, the steepness of the fall is apparently due to MSCI rebalancing, with futures and options segment appearing reluctant to match such move. Nevertheless the large red candle registered on Nifty’s chart needs to be acknowledged, and we will start the new week on a cautious note. That 23500 was defended, gives us reason to be optimistic, but slippage past the same, or inability to reclaim the 10 day SMA near 23750 will confirm bearishness calling for 22800.Nifty has been seeing profit booking at higher levels in last few weeks. What does the rollover data indicate for the June series?The rollover data for June series suggests a cautious to mildly negative undertone despite selective strength. Nifty’s rollover dropped to 69.98% in May, below the 3-month average of 73.05%, indicating reduced willingness to carry forward positions, likely reflecting profit booking at higher levels. Similarly, Bank Nifty rollover moderation points to some cooling in conviction within the heavyweight banking segment.Market breadth has weakened as well, with only 52% of stocks closing positive vs 91% in April, highlighting broader profit-taking pressure. While strong rollovers in select sectors like Oil & Gas, Metals, Power and Infra signal pockets of resilience, weakness in Pharma, Healthcare, and Transportation suggests lack of uniform participation.Although long buildup was visible in Telecom, Capital Goods, and Pharma, the early trend in June appears cautious. Importantly, banks-despite prior long build-up-have started the June series on a weak footing, with heavyweights like SBI and HDFC Bank under pressure, which could weigh on Nifty due to their high index weight.Nifty IT is showing signs of resilience even during sell-off. What are the charts indicating at?The Nifty IT index is showing early signs of a trend reversal after a prolonged corrective phase. On the daily chart, the formation of an inverted head and shoulders pattern suggests a base-building process, with prices currently hovering near the neckline zone around the 29,500-29,600 region. A sustained move above this level could confirm a breakout and trigger momentum towards higher resistances.On the higher timeframe, the weekly MACD is on the verge of a bullish crossover, indicating a potential shift from bearish to positive momentum. This aligns with improving price structure and supports the medium-term recovery thesis.From a longer-term perspective, the monthly candlestick is forming a pin bar Doji, typically seen near inflection points, highlighting rejection of lower levels around the 27,000-28,000 zone and signaling demand absorption.However, confirmation is key. Immediate support lies near 28,000, while a decisive breakout above the neckline could open upside towards 31,000-32,000. Failure to sustain above key resistance may keep the index range bound.HFCL was among the top gainers of the week. Do you see signs of the momentum continuing in the week ahead?Long wicked candle on Friday, with a close above upper bollinger band point to a mix of strong trending nature and emerging cautiousness. Oscillators appear reluctant, but are yet to confirm an impending collapse. With these in the backdrop, longs may be held on to, but ideally with a stop loss placed near 168.Natco Pharma fell 14% on Friday after weak Q4 results. Do you see signs of bottom-fishing emerging in the coming week?Yes. The single day red candle which has resulted in a break of structure, is likely to be followed by bottom fishing and a pull back rally that could extend 3-4%. However, we do not see enough signs to indicate that such pull back attempt could sustain.Give us your top ideas of the week. INDIANB (LTP: 833)View: BuyTarget: 930SL: 790 Indian Bank continues to maintain a structurally strong uptrend on the weekly chart, characterised by a series of higher highs and higher lows since early 2024. The recent profit booking since April seems to have found a support near 800 healthy consolidation after a sharp rally, with the stock holding firmly above the 780-750 support zone, which now acts as a strong demand base.Despite the recent pullback from near 1000 levels, the correction appears time-wise rather than price-destructive, suggesting profit booking rather than trend reversal. The presence of a rising support trendline reinforces the bullish structure.Momentum indicators are cooling off from overbought levels, which is constructive in a trending market. The RSI is stabilising near the mid-zone, providing room for a fresh upside leg, while MACD is approaching levels where a potential bullish crossover on lower drawdown could emerge.SHYAMMETL (LTP: 973)View: BuyTarget: 1080SL: 930 Shyam Metalics is exhibiting a strong bullish breakout from a descending trendline on the weekly chart, indicating a potential resumption of the broader uptrend after a period of consolidation. Price has decisively moved above the 950-960 resistance zone, which also coincided with prior swing highs, adding conviction to the breakout.The structure reflects higher lows formation, suggesting steady accumulation. Momentum indicators are turning supportive with RSI trending upward above the mid-zone, while MACD has delivered a bullish crossover with rising histogram, reinforcing improving momentum. Weekly Supertrend breakout adds to positivity. Volume expansion near the breakout area further validates buyer participation and strengthens the breakout reliability. Additionally, price holding above short-term supports near 930 indicates a favorable risk-reward setup.As long as the stock sustains above the breakout zone, it is well-positioned to extend its upward move towards the 1080 target.

Suzlon Energy shares fall over 2% after SEBI fines Rs 29 crore for misleading financial statements

Shares of renewable energy player Suzlon Energy fall 2.2% to Rs 55.87 on the BSE on Monday after capital markets regulator Sebi levied penalties totalling nearly Rs 29 crore on Suzlon Energy and several former executives. Sebi concluded that the company misrepresented its financial position through transactions involving subsidiaries, inflated profits and inadequate disclosures.In a 96-page order issued on May 29, Sebi said Suzlon and certain former executives violated provisions of the Sebi Act, PFUTP Regulations, listing regulations and disclosure requirements. The order replaces an earlier adjudication order issued in June 2025 and confirms multiple violations by the company and its executives.Among the penalised individuals, former executive Vinod R. Tanti was fined Rs 5.75 crore, while Girish R. Tanti was directed to pay Rs 5.45 crore. Former Group CFO Kirti J. Vagadia was fined Rs 1.5 crore and former CFO Amit Agarwal was fined Rs 30 lakh.The matter stemmed from an anonymous complaint received by Sebi in December 2019 alleging irregularities in transactions involving Suzlon's subsidiaries and associate entities. A subsequent forensic audit and investigation covering FY15 to FY20 and the first nine months of FY21 examined several issues, including dealings with subsidiaries, impairment reversals, contingent liabilities and financial statement disclosures.Sensex, Nifty today: Catch all the LIVE stock market action hereOne key observation related to the transfer of Suzlon's operations and maintenance services business to its subsidiary, Suzlon Global Services Ltd, in March 2014. Sebi noted that the business, valued at around Rs 77 crore, was transferred for Rs 2,000 crore, resulting in Suzlon recording an accounting gain of Rs 1,922.92 crore.According to the regulator, the subsidiary lacked the financial capacity to fund the transaction. Sebi found that a significant portion of the consideration was subsequently reflected as paid through circular movement of funds between the two entities. The regulator said the arrangement created artificial profits and inflated the company's net worth. It observed that Suzlon's FY14 net worth would have been Rs 741 crore without the transaction, compared with the reported figure of Rs 2,664 crore.Sebi further noted that Suzlon later booked an additional gain of Rs 829.78 crore by transferring its stake in the subsidiary to another wholly owned entity, effectively recognising profit a second time on the same underlying assets. According to the regulator, these transactions helped the company portray a stronger financial position and supported subsequent fund-raising and restructuring efforts.The order also addressed a standby letter of credit connected to loans taken by a foreign subsidiary. Sebi said a contingent liability of about $569 million, or roughly Rs 4,050 crore, which had been disclosed in FY17, was not reflected in FY18 contingent liability disclosures after being reclassified under an accounting standard related to insurance contracts. The regulator held that the treatment was inappropriate and materially reduced the visibility of the company's financial exposure.In addition, Sebi reviewed investments and loans involving subsidiaries SE Forge Ltd and Suzlon Gujarat Wind Park. It found that several transactions involved circular routing of funds, conversion of loans into equity and later impairment of investments. According to the regulator, these transactions resulted in financial statements that did not accurately represent the underlying economic substance.Sebi concluded that the company's financial statements and disclosures failed to present a true and fair view of its financial position. The regulator said financial statements and disclosures form the basis on which investors and other market participants assess a listed company's financial health and prospects.While Sebi noted that disproportionate gains and investor losses could not be quantified with precision, it said the violations were serious because they related to financial information disseminated to investors and relied upon by the market.Sebi imposed the penalties under provisions relating to fraudulent and unfair trade practices, disclosure lapses and violations of listing obligations. The notices must pay the penalties within 45 days of receiving the order.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Norway Chess: Gukesh, Praggnanandhaa, Divya all suffer classical defeats

Round 6 of Norway Chess brought a dramatic reversal for India as D Gukesh, R Praggnanandhaa, and Divya Deshmukh all suffered costly classical defeats in the reverse fixtures. Vincent Keymer outplayed Gukesh, Wesley So overcame Praggnanandhaa in a superior endgame, and Women’s World Champion Ju Wenjun defeated Divya. Magnus Carlsen returned to winning ways against Alireza Firouzja, while Koneru Humpy lost her Armageddon tie-break, capping a difficult day for India.

Kohli powers RCB to back-to-back IPL crowns

For Gujarat Titans, this was supposed to be Ahmedabad's night.Instead, it became an Ahmeda-bad evening for Shubman Gill's men.Also Read: RCB win IPL for 2 straight years, but this player has created a hat-trick of winsOn a stage draped in blue, in front of a crowd willing the home side towards a second IPL crown, Royal Challengers Bengaluru once again arrived like champions who no longer carry the burden of history. They carried certainty. They carried belief. And, as they have so often over the last two seasons, they carried Virat Kohli.Chasing a modest but tricky 156, RCB were never reckless. They were relentless. Kohli, the grandmaster of the chase and the heartbeat of this franchise, produced yet another knockout innings, crafting a half-century that sucked the anxiety out of the contest and the hope out of Gujarat's defence. It was not his most explosive knock. It did not need to be. It was a classic Kohli pursuit — measured, intelligent and utterly inevitable.The numbers will show another fifty. The final will remember much more than that.For a franchise that spent nearly two decades being cricket's great unfinished story, this felt like the final confirmation that last year's title was not an emotional one-off. This is now a team that understands how to win the biggest games. Two titles in two years is not a breakthrough. It is the beginning of a legacy.Yet Gujarat refused to make it easy.After being restricted to 155, a total that always felt 20 runs short on a placid Ahmedabad surface, the Titans fought with the stubbornness that has defined much of their short IPL history. Rashid Khan, magnificent as ever, dragged the contest deeper than it deserved to go. His spell was a reminder that class survives even when the scoreboard does not cooperate. Every wicket he took briefly reignited belief. Every dot ball lifted the noise levels.Also Read: Rohit, Dhoni, Hardik: When IPL's biggest names couldn't deliver this seasonAnd then there was Rajat Patidar — the quiet captain who has turned Royal Challengers Bengaluru from cricket’s great underachievers into a title machine.A year after leading RCB to their long-awaited maiden IPL crown, Patidar is set to script history again, becoming only the third captain after MS Dhoni and Rohit Sharma to guide a franchise to back-to-back IPL titles. If last season was about breaking an 18-year curse, this one has been about building a champion's mentality.Patidar’s numbers do not scream for attention, but his captaincy has. RCB topped the league stage, steamrolled Gujarat Titans in Qualifier 1, and entered the final carrying the assurance of a side that no longer panics under pressure. The 31-year-old has fostered a dressing-room culture built on clarity and calm, repeatedly insisting throughout the season that every game was “just another match” despite the mounting expectations around a title defence.His fingerprints were all over the campaign. Whether it was trusting Josh Hazlewood in crunch overs, backing Krunal Pandya's experience on spin-friendly surfaces, or ensuring Virat Kohli could play the anchor's role without the burden of forcing the pace, Patidar's tactical calls consistently landed. Most importantly, Patidar has managed something few RCB leaders before him could: he has made the franchise feel bigger than its baggage. For years, RCB were defined by near-misses, heartbreaks and dependence on individual brillianceBut Gujarat's bowlers were left carrying a burden that should never have been theirs alone.The real disappointment lay with the batting.Too many starts disappeared. Too many big names drifted through the final without leaving a mark. At no point did the innings gather the momentum expected from a side stacked with stroke-makers and match-winners. The scoreboard moved, but never surged. The pressure remained, and RCB's attack, led by the discipline of Josh Hazlewood and the control of Krunal Pandya, squeezed relentlessly.By the halfway mark, the script already felt familiar.RCB had been the better side for most of the season. They entered the final as favourites. They played like favourites. And when the moment arrived to finish the job, they handed the chase to the one man who has spent nearly two decades making impossible pursuits look routine.Kohli has worn many labels across his career — superstar, run machine, icon, leader.On nights like these, one title fits best- King Kohli.And with another IPL trophy glistening under the Ahmedabad lights, his kingdom just got bigger

Market Trading Guide: YES Bank among two stock picks for Monday with up to 10% upside scope

Equity markets witnessed broad-based selling pressure on Friday following the IMD's monsoon forecasts of 90% of the long-period average (LPA), raising concerns among investors. The prospect of deficient rainfall, coupled with the increasing likelihood of an El Niño weather pattern, has heightened fears of elevated food inflation in the coming months. However, the downside risk appears partially mitigated by the recent moderation in crude oil prices and bond yields. Additionally, global sentiment remains supported by expectations of a potential diplomatic breakthrough between the US and Iran, which has contributed to a rally in international markets.Analysts say that in the near term, investor attention is expected to shift toward key domestic triggers, particularly the upcoming RBI monetary policy decision and GDP data release, which will provide further insights into the inflation trajectory and overall economic momentum.Here are two stocks to buy on Monday1) YES Bank - Buy | CMP: Rs 23.22 | Stop loss: Rs 22.5 | Target: Rs 25Yes Bank shows strong bullish momentum as the price breaks decisively above the key horizontal resistance level at Rs 22.02. This breakout is supported by a noticeable volume expansion, confirming genuine market participation. The price is trading cleanly above the short- and long-term EMAs, which are fanning out in a bullish alignment, while the RSI rises above 60, signalling accelerating upward strength toward the descending trendline.2) NBCC - BUY | CMP: Rs 100.3 | SL - Rs 95 | Target - Rs 110NBCC (India) Limited exhibits a strong bullish reversal as price breaks above multiple short-term EMAs and tests the long-term blue EMA near 101.30. This upward shift is backed by a notable volume surge, indicating a clear influx of buyers at these levels. Meanwhile, the RSI has crossed above the 60 threshold, signalling accelerating positive momentum and confirming a strong structural turnaround from the recent bottom(Virat Jagad is Sr Technical Research Analyst at Bonanza Portfolio)(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times.)