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Dreaded Gangster Vainket Garg Extradited To India From Georgia

The Haryana Police team, along with Garg, arrived in New Delhi on Thursday.

Explained: How SpaceX’s $75 billion IPO could create opportunity for Inox India shareholders

As the world gears up for Elon Musk's SpaceX IPO at a staggering $1.75 trillion valuation, a relatively lesser-known Indian company is emerging as an unlikely beneficiary thousands of miles away. INOX India, a global leader in cryogenic technology, has found itself in the spotlight as investors hunt for domestic companies with exposure to the rapidly expanding global space ecosystem.The excitement around SpaceX's public listing has already spilt over into INOX India's stock. Shares of the company have surged 25% over the past month and have gained in seven of the last eight trading sessions.The frenzy surrounding SpaceX's IPO, which reports suggest was oversubscribed nearly four times, has prompted investors to look beyond the headline-grabbing U.S. listing and identify potential beneficiaries closer home. For many, INOX India appears to fit that bill. But what exactly is the connection?Inox's aerospace pushDuring its Q4 earnings call, the company disclosed that it had secured a significant aerospace order from a leading U.S.-based private space company. The total order value is approximately Rs 200 crore. Management said it expects additional high-value orders in the first quarter of FY27."This order is a direct outcome of our proven execution capabilities and reinforces the growing confidence that global aerospace players have in INOX India's engineering expertise," the company said."Aerospace cryogenic systems are not short-term trends, but a long-term structural opportunity. We believe that INOX India is well-positioned to capitalise on these opportunities through its engineering expertise, diversified capabilities, and expanding global presence and footprint," the company added.Can Inox India shares rally more?According to Sunny Agrawal, Head of Research at SBI Securities, investor interest in INOX India has picked up significantly ahead of the SpaceX listing. Beyond aerospace, the company is also expanding into segments such as data centres, nitrogen supply and distillery kegs, providing additional growth levers."Management has guided for 15-20% growth per year, and after the recent rally, the stock is trading at a relatively rich valuation of about 56 times one-year forward earnings," Agrawal said. He believes investors may be better off waiting for a correction before making fresh purchases. "Investors may consider waiting for a correction before fresh entry, as some profit-taking and a cooling-off in the stock could follow once SpaceX gets listed," he added.SpaceX IPOThe much-anticipated SpaceX IPO is scheduled to be priced on June 11, with trading set to commence on the Nasdaq on June 12. The company is looking to raise $75 billion through the offering, which would value the business at approximately $1.75 trillion.Despite the enormous investor enthusiasm, SpaceX remains loss-making. For 2025, the company reported revenue of $18.67 billion and a net loss of $4.94 billion. Much of the bullishness around the stock is tied to its future opportunities across satellite broadband, launch services, defence contracts and AI-related businesses rather than its current earnings profile.Not everyone is convinced by the valuation, however. Morningstar said in a note published on Monday that the company appears "significantly overvalued" and suggested that investors may find more attractive entry opportunities after the stock begins trading.Inox India Q4 snapshotINOX India reported a strong performance for the fourth quarter of FY26, with revenue rising 24.2% year-on-year to Rs 475 crore. Adjusted EBITDA grew 13.4% to Rs 108 crore, while adjusted profit after tax (PAT) increased 9% to Rs 72 crore compared with the corresponding quarter last year.Exports continued to be a key growth driver, with export revenue standing at Rs 291 crore and contributing 61% of total quarterly revenue. During the quarter, the company secured order inflows worth Rs 504 crore, taking its total order backlog to Rs 1,514 crore.For FY26, INOX India delivered its highest-ever annual revenue of Rs 1,632 crore, up 21.2% year-on-year. Adjusted EBITDA rose 20.2% to Rs 388 crore, while adjusted PAT increased 19.3% to Rs 261 crore. Annual export revenue came in at Rs 971 crore, accounting for 59% of total revenue, reflecting sustained strength in international demand throughout the year.INOX India shares have risen 64% since the start of the year.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Gangster Venkatesh Garg accused of killing BSP leader to be deported to India

Gangster Venkatesh Garg accused of killing BSP leader to be deported to India

Father-son duo gunned down in broad daylight in UP, shooter dies hours later; CCTV video surfaces

A long-standing feud turned deadly in Baghpat's Baraut town as a tent trader and his son were shot dead by gangster Varun Lohari, who also sustained fatal injuries. The incident triggered protests and market shutdowns. Police are investigating the years-old dispute, with 10 teams formed to apprehend Lohari's associates.

Constable suspended for assaulting youngsters in Vriddhachalam

NIA hits Shahzad Bhatti’s network, raids 18 locations in Punjab, Haryana

Shahzad Bhatti, a gangster-turned-terrorist backed by Pakistan’s spy agency ISI, has emerged as a key figure in recent investigations into terror attacks

How India is trying to attract foreign capital

As the rupee came under pressure from rising crude oil prices, geopolitical tensions in the Middle East and sustained foreign portfolio investor (FPI) outflows, the government and the Reserve Bank of India rolled out a set of measures over Friday and Monday aimed at attracting foreign capital and strengthening India's external position.The RBI, while keeping the repo rate unchanged at 5.25% in its June monetary policy review, unveiled a package to boost dollar inflows. Simultaneously, the government followed up with a tax ordinance exempting foreign investors from taxes on investments in government securities. Together, the measures are designed to improve India's balance of payments, ease pressure on the rupee and make Indian debt markets more attractive to overseas investors.Also Read: India scrapping tax for foreign investors in govt bonds aimed at inclusion in Bloomberg index, govt official saysSo, why were policymakers worried?The West Asia conflict and its impact globally is no secret. The ripple effects are real. The rupee had come under pressure in recent weeks trading in the range of ₹95.20 to ₹95.80 against the US Dollar as crude oil prices surged following the escalation of the Iran-Israel conflict, raising concerns over India's import bill and current account deficit. However, a surprise sprang on Monday when India reported a current account surplus of $7.1 billion in the fourth quarter of FY26. The RBI's package1. Concessional forex swap facility for overseas borrowingsThe RBI introduced a special dollar-rupee swap facility at a concessional rate for public sector entities and banks raising funds overseas. The facility will remain available until September 30.Companies often borrow abroad but must hedge currency risk. Hedging can be expensive. By lowering that cost, the RBI is encouraging more overseas borrowing and, consequently, more dollar inflows into India.2. RBI to bear hedging costs on FCNR(B) depositsOn Monday, the RBI issued detailed guidelines for the FCNR(B) deposit scheme announced during the monetary policy.Also Read: Deposits under RBI's latest foreign currency non-resident bank scheme will carry one-year lock-inUnder the framework, banks can mobilise fresh FCNR(B) deposits with maturities of three to five years between June 8 and September 30 and swap the dollar inflows with the RBI. The swap window will remain available until October 16. The central bank will bear the entire hedging cost, effectively allowing banks to hedge these deposits at par. Banks can also offer leverage against such deposits.The RBI also exempted these deposits from Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) requirements, improving the economics of mobilising foreign currency deposits.To ensure stability of inflows, deposits raised under the scheme will carry a mandatory one-year lock-in period. Banks will not be allowed to cancel swaps undertaken with the RBI before maturity. The RBI further exempted swap positions arising from FCNR(B) deposits from net unhedged foreign exchange exposure calculations.This is the closest India has come since the 2013 FCNR(B) mobilisation scheme launched during the rupee crisis. By eliminating hedging costs, providing CRR and SLR relief, relaxing regulatory treatment and offering a dedicated swap window, the RBI is giving banks a strong incentive to attract dollar deposits from overseas Indians. Why analysts think this scheme could be bigger than 2013Brokerage Jefferies believes the latest package could attract $50-70 billion of foreign currency inflows, substantially higher than the inflows generated under the 2013 FCNR(B) scheme.The brokerage argues that the current framework is more attractive than the one introduced during the rupee crisis more than a decade ago. While banks had to bear hedging costs of around 3.5% under the 2013 scheme, the RBI is now absorbing the entire cost. The deposits are also exempt from CRR and SLR requirements, similar to the earlier programme.A key difference this time is the ability to use leverage. Jefferies noted that the RBI has permitted banks to provide standby letters of credit (SBLCs), potentially allowing depositors to amplify returns through leverage. According to the brokerage, this could significantly improve the attractiveness of FCNR(B) deposits for overseas investors.3. Expansion of the Fully Accessible Route (FAR)The RBI expanded the FAR framework to include all new 15-year, 30-year and 40-year government securities and removed concentration limits for foreign investors.Large global investors, including pension and sovereign funds, prefer long-dated bonds. The move widens the universe of Indian government securities available for unrestricted foreign investment.4. Easier access for non-resident investorsThe RBI broadened investment access for individuals residing outside India and eased certain norms governing non-resident participation in Indian markets.The measure aims to tap a larger pool of overseas capital, particularly from the Indian diaspora.The Government's follow-up Tax reliefAfter the RBI's measures, the government issued the Income-tax (Amendment) Ordinance, 2026.5. Capital gains tax exemption on government bondsThe ordinance exempted foreign institutional investors and the Bank for International Settlements from capital gains tax on investments in specified government securities. Earlier, long-term gains attracted a 12.5% tax.1316102436. Interest income tax exemptionThe government also removed taxes on interest income earned by eligible foreign investors from these government securities. Previously, interest income faced a 20% withholding tax.131610254

6 contenders, 1 trophy: T20 WWC battle begins

The biggest edition of the ICC Women's T20 World Cup gets underway in England on June 12, with 12 teams competing for the title across 33 matches. As defending champions New Zealand seek to retain their crown, India will aim to complete a rare World Cup double after winning the ODI World Cup last year, while Australia look to re-establish their dominance after a rare trophyless ICC cycle.The tournament's expanded format has heightened competition, but a handful of teams enter as genuine title contenders.India chasing historyNo team apart from Australia has won both the ODI and T20 World Cups in succession. Harmanpreet Kaur's side has an opportunity to achieve that feat after ending India's long wait for a global title with last year's ODI World Cup triumph.Also Read: JioStar bets on mainstreaming women’s cricket fandom with ICC Women’s T20 World Cup campaignIndia's preparations have produced mixed signals. They secured home series victories over Sri Lanka and Australia but struggled on overseas tours, losing a T20 series in South Africa and another in England earlier this month. England recovered from 0-1 down to beat India 2-1, exposing concerns over India's bowling depth in unfamiliar conditions.The batting unit remains India's biggest strength. Smriti Mandhana, Jemimah Rodrigues, Harmanpreet, Deepti Sharma and Richa Ghosh bring extensive experience from English franchise competitions, which could prove valuable during a month-long campaign.India also received a confidence boost in a warm-up match against West Indies, where Bharti Fulmalli struck a half-century and the spin attack delivered a commanding performance.Australia remain the benchmarkAustralia enter the tournament under a new captain after Alyssa Healy's retirement, with Sophie Molineux taking charge of a squad that still boasts some of the most experienced names in women's cricket.Also Read: Form of openers, bowling main areas of concern as India head into T20 World CupEllyse Perry, Beth Mooney, Ashleigh Gardner, Megan Schutt, Alana King and Tahlia McGrath form a battle-tested core capable of thriving in major tournaments. The additions of opener Georgia Voll and left-arm seamer Lucy Hamilton have added fresh depth.Despite not winning a major ICC trophy since 2023, Australia remain the most successful side in Women's T20 World Cup history with six titles and will once again start among the favourites.Defending champions New Zealand eye repeatNew Zealand arrive as defending champions but face the challenge of replacing an experienced generation nearing the end of its international journey.Veterans Sophie Devine, Suzie Bates and Lea Tahuhu remain central to the team's ambitions, while all-rounder Amelia Kerr continues to be one of the most influential players in world cricket. Kerr was instrumental in New Zealand's title-winning campaign in 2024 and remains their biggest match-winner heading into the tournament.The Kiwis are placed in a competitive group featuring hosts England, Sri Lanka, West Indies, Ireland and Scotland.England banking on home advantageEngland will hope familiar conditions can help them end a prolonged wait for an ICC title.The return of captain Nat Sciver-Brunt from injury provides a major boost. England showed their depth during her absence by defeating India in a closely contested T20I series. Youngsters Alice Capsey and Charlie Dean impressed during that series, while experienced campaigners Heather Knight, Danni Wyatt-Hodge and Sophie Ecclestone provide stability.Playing at home and buoyed by strong crowd support, England could be one of the toughest teams to beat.South Africa seek breakthrough momentSouth Africa have come close to global glory several times but are still searching for their first ICC trophy.Led by Laura Wolvaardt, they possess one of the most balanced squads in the competition. Marizanne Kapp remains among the world's premier all-rounders, while the return of experienced pacer Shabnim Ismail strengthens the bowling attack.The Proteas also carry recent confidence after dominating India in a bilateral series before the World Cup. However, being drawn alongside India and Australia in Group A means every match could have semifinal implications.Sri Lanka emerge as dark horsesSri Lanka may not begin as favourites, but few teams enter the tournament with greater momentum.Chamari Athapaththu remains the face of the side, yet Sri Lanka's progress in recent years has been driven by the emergence of a stronger supporting cast that includes Harshitha Samarawickrama, Vishmi Gunaratne, Nilakshika Silva and Kaveesha Dilhari.The concern remains their pace bowling resources. On surfaces that traditionally assist seamers, Sri Lanka's heavy reliance on spin could become a vulnerability in the knockout stages.Group of deathThe tournament's toughest battle could unfold in Group A, where India, Australia and South Africa are all expected to challenge for the semifinals. With only two knockout spots available, one heavyweight could be heading home early.For India, the equation is simple. A maiden Women's T20 World Cup title would not only complete a historic double but also cement the current generation's place among the country's greatest cricket teams.(With inputs from PTI)

Telangana Police Arrest Jailed Bihar Gangster Behind Rs 82-Lakh Robbery

Police arrest key accused in PMJ Jewellers robbery

Police constable and history-sheeter arrested for assaulting three youngsters in Vriddhachalam

The duo also snatched a mobile phone from them

Warnings shots: Indian gangster claims responsibility for Portugal shootings

Warnings shots: Indian gangster claims responsibility for Portugal shootings

TMC worker accused of extortion hides under pile of sarees in Howrah godown to avoid arrest

A Trinamool worker accused of extortion was apprehended by police hiding under a pile of sarees at a state government godown in Howrah. The man, a close associate of an absconding MLA, was discovered after a video of him concealed amongst the clothes went viral. Police were alerted by BJP workers and subsequently located him.

PM Hails Indian Women's Football Team On SAFF Championship 2026 Win: 'Will Encourage More Youngsters'

PM Narendra Modi hailed India's SAFF Women's Championship victory, saying the team's success will inspire more youngsters to take up football in the future.

Allahabad HC raps U.P. police, says officers serve political bosses over the Constitution

HC slams illegal use of Gangsters Act to keep a homemaker in jail for 80 days, quashes case against family; denounces culture that treats rule of law as an administrative obstacle, not Constitutional mandate

BCCI confirms timings of India squad announcement for UK tour

The BCCI will announce India's squads for the Ireland and England white-ball tours, after a selection meeting on Saturday. A press conference led by Ajit Agarkar and Devajit Saikia will begin at 1 PM IST. Shreyas Iyer is expected to become T20 captain, while youngsters Tilak Varma and Vaibhav Sooryavanshi could earn major roles.

Great Nicobar project meant to benefit Adani, it’s not about defence: Rahul Gandhi

On World Environment Day, the Opposition leader launches an online petition against the Great Nicobar Island transhipment hub project, urges youngsters to sign up and “choose green over greed”

‘Youngster nahi karega, toh kaun’: Veterans defend Army captain after proposal sparks 'security' concerns

An Army captain's recent proposal to his girlfriend after passing-out parade in Nashik has sparked a debate over military protocol and security concerns,

If not youngsters, then who? Army veterans back Captain's viral chopper proposal

If not youngsters, then who? Army veterans back Captain's viral chopper proposal

'It is tough': Kuldeep on challenges of switching from IPL to red-ball cricket

India spinner Kuldeep Yadav says he is fully focused on Test cricket ahead of the one-off Afghanistan Test. After Delhi Capitals' early IPL exit, he used the extra time to prepare for red-ball cricket, admitting the transition from T20s is “tough.” With Ravindra Jadeja and Axar Patel rested, Kuldeep will lead the spin attack and has backed youngsters Harsh Dubey and Manav Suthar to perform well.

'Where do we bowl?': SRH star recalls Vaibhav Sooryavanshi nightmare

Fifteen-year-old Vaibhav Sooryavanshi delivered a record-shattering IPL 2026 campaign, highlighted by a 97 off 29 balls in the Eliminator. His sensational batting, including 72 sixes, earned him the Orange Cap and MVP award. Sooryavanshi's adaptability impressed opponents, with Liam Livingstone noting his rapid development against various bowling tactics.