뉴스

BJP to plant one million palmyra saplings, protect toddy tappers

Madhav says the party will promote palm-based livelihoods and push for Neera production centres to generate employment

Promote millets, national food technology institute students urged

Hindustan Zinc shares tumble 5% to 6-week low after report of govt's plan to sell 2% stake for Rs 5,000 crore

Shares of Hindustan Zinc sharply tumbled nearly 5% on Friday after a report said that the government is planning to sell as much as 2% stake in the metals major for up to Rs 5,000 crore ($525 million).The shares of the company dropped to Rs 575.20 apiece on NSE, the lowest level seen by the stock in six weeks, after the release of the Bloomberg report, citing people familiar with the matter. Shares of Vedanta, meanwhile, tumbled 3% to Rs 318.80 apiece.The Department of Investment and Public Asset Management (DIPAM) aims to launch the process this month or in July this year, the report said, adding that ICICI Securities, Axis Capital, IIFL Capital Services, and HDFC Securities are advising the government on the transaction.Hindustan Zinc shareholding patternThe Central government held nearly 28% stake in India’s largest silver producer, according to data on the company’s shareholding pattern as on March 31, 2026. Its largest promoter, Vedanta, meanwhile, held nearly 61% stake in the company.Another 3.5% stake was held by insurance companies, while foreign investors held more than 2% stake in Hindustan Zinc, as at the end of the January-March quarter of FY26.The latest report on the government's possible stake sale in Hindustan Zinc comes after the centre ramped up its disinvestment efforts. Last week, the government raised about $531 million from the sale of 2% stake in Coal India. Earlier this week, it raised $450 million by selling 6% stake in NHPC. Bloomberg also reported that the government is now mulling an OFS to sell 2% stake in LIC to raise as much as Rs 10,000 crore.ED raids at Hindustan Zinc officesThe shares of Hindustan Zinc declined earlier this week after Vedanta said that the Enforcement Directorate team visited some of its offices, confirming news reports. "We hereby inform that the Enforcement Directorate team visited some offices of our company and Hindustan Zinc, a subsidiary of the company," Vedanta said after stock exchanges sought clarification regarding news reports around ED conducting searches against Vedanta Group in FEMA probe. The Anil Agarwal-led company added that it is fully cooperating with the authorities and providing all requested information.Later, Vedanta announced that the searches had concluded and no penalty or restriction had been imposed by the authorities.Hindustan Zinc share priceHindustan Zinc shares have fallen more than 9% in one week and 6% in one month, while being down more than 6% in 2026 so far. The shares of the company have gained around 17% in one year.Also read: Did this L&T-backed AI stock actually crash 90% in one day? Here's all you need to knowIn the longer term, the stock delivered 87% returns over three years and 72% returns over five years. The company currently has a market capitalisation of more than Rs 2.43 lakh crore. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Go Digit Insurance shares jump 9% after Rs 100 crore block deal attracts MFs, global investor

Shares of Go Digit General Insurance surged 8.66% to Rs 329 during Friday's trading session, extending gains after a significant Rs 100-crore block deal in the previous session attracted prominent institutional investors.The block deal saw Aditya Birla Sun Life Mutual Fund and JPMorgan (Taiwan) Eastern Technology Fund collectively acquire 33.33 lakh shares at a weighted average price of Rs 300 per share.Aditya Birla Sun Life Mutual Fund purchased 21.66 lakh shares worth approximately Rs 65 crore, while JPMorgan (Taiwan) Eastern Technology Fund acquired 11.66 lakh shares valued at around Rs 35 crore.The seller in the transaction was Peak XV Partners Growth Investments III, which offloaded its entire 33.33 lakh-share stake for nearly Rs 100 crore.Stock PerformanceDespite Friday's sharp rally, Go Digit Insurance has remained under pressure over the past year, with the stock declining around 10% during the period. The company currently commands a market capitalisation of Rs 27,993 crore.The stock's 52-week high stands at Rs 381.40, while its 52-week low is Rs 295.50.On the valuation front, Go Digit Insurance trades at a Price-to-Earnings (P/E) ratio of 49.28 and a Price-to-Book (P/B) ratio of 6.51, reflecting premium market expectations for the insurer's growth prospects.The company delivered a robust financial performance in the March 2026 quarter. Revenue rose 9% year-on-year to Rs 3,181 crore, while net profit surged 49.2% YoY to Rs 173 crore, highlighting improved profitability and operational efficiency.The shareholding pattern for the March 2026 quarter reflected mixed investor activity. Promoters marginally reduced their stake in the company from 73.03% to 73.01%, while Foreign Institutional Investors (FIIs) trimmed their holdings from 8.26% to 8.01%. In contrast, mutual funds increased their ownership from 8.02% to 8.28%, signaling continued confidence from domestic institutional investors despite the reduction in foreign investor participation.From a technical perspective, the stock's Relative Strength Index (RSI-14) stands at 40.8. An RSI below 30 is generally considered oversold, while a reading above 70 signals overbought conditions.Go Digit Insurance is currently trading above 5 out of its 8 key Simple Moving Averages (SMAs), suggesting improving near-term momentum. However, the stock remains below its 100-day, 150-day, and 200-day moving averages, indicating that long-term trend confirmation is still awaited.The sharp rally following the Rs 100-crore block deal and increased mutual fund participation has put Go Digit Insurance back on investors' radar. Market participants will closely watch whether the stock can sustain momentum and reclaim key long-term resistance levels in the coming sessions.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

The curious case of Rajesh Exports: Massive revenues, meagre profits

Mumbai: It is India's fourth biggest company by revenue, but the managing director of precious metals trader Rajesh Exports (REL) apparently doesn't know how and from where it gets the biggest chunk of the revenue, show the findings of a regulatory investigation.In its investigation report, the Securities and Exchange Board of India observed allegedly unscrupulous activities by REL's promoters, such as accounting irregularities and siphoning off of company funds into personal accounts, and also pointed out lapses by its auditors. The regulator said the company and its auditors were non-cooperative."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 observed in its report.The company, eponymously named after its chairman Rajesh Mehta, is accused of committing an elaborate financial fraud that includes dressing-up of revenues of ₹15.15 lakh crore over the years, personal gold trades covered up as corporate sales and phoney gold mine investments of ₹1,035 crore, according to the interim report.REL denied the charges of misdeeds. In a press release Thursday, the company said the revenues stated in its financials were correct and that the confusion arose because of a mix-up between Ebitda and revenue numbers at Swiss refiner Valcambi SA, an indirect subsidiary.Sebi has not made any adverse observation with regard to earnings, the company said, claiming that the regulator has only observed suspicion with regard to revenues which was primarily because of confusion over the Valcambi numbers.Numbers don't add upIn fiscal 2025, REL reported consolidated revenue of ₹4.23 lakh crore against a profit after tax of just ₹95 crore, translating into a net margin of barely 0.02%. The year before, on ₹2.8 lakh crore revenue, profit was ₹336 crore.Experts who have studied the Sebi report and the company's annual reports say the numbers did not add up. The business appeared to be operating at margins that were not merely thin but structurally negligible, they said."It looks like a case of pass-through accounting. There is no value creation. It was 'flow of gold' being booked as revenue," said a leading auditor on the condition of anonymity.Sebi, which began the investigations in March 2024 following a shareholder complaint about suspected accounting malpractices, said it found that about 97-99% of REL's consolidated revenues were attributed to its overseas subsidiaries, principally Valcambi. But Valcambi's own accounts, audited by KPMG SA, recorded only processing fees that were about ₹3,027 crore across five years.Valcambi refined gold on behalf of clients and never took ownership of the precious metal or recognised the value of gold as revenue in its books. Yet, Global Gold Refineries AG (GGR), the parent of Valcambi that had no independent operating business, recorded gross revenues running into hundreds of crores by including the gross value of gold that actually belonged to others, according to the Sebi report.Rajesh Exports, which owns GGR through a Singapore subsidiary, used those unaudited figures in its financial statements, significantly bumping up the company's revenue, it said.In its press release, REL said: "The core observation in the order is with regard to the misreporting of the revenues. This has emerged primarily due to confusion because Sebi has considered the Ebitda of Valcambi instead of revenue hence it has stated that there is a difference of about 97% in the revenue.""There is no reason for any listed entity to inflate revenue and maintain the earnings, this will only reduce the margins of the company, which would be adverse to the company," it said.Senior management in the darkThe senior management of REL told regulators that most of them were in the dark about the company's overseas operations and only the promoter, Rajesh Mehta, dealt with those activities."Valcambi SA does not have any gold mine on its own," managing director Suresh Gowda was quoted in the Sebi order as saying. "It refines the raw gold purchased by it from various entities, whose names I do not recollect, as these things are exclusively handled by Rajesh Mehta, chairman of REL. I have never interacted nor involved with any subsidiary/step-down subsidiary of REL, as these were exclusively taken care of by Rajesh Mehta," he told the investigators, as per the order.According to the report, REL booked ₹11,487 crore in sales between 2021-22 and 2023-24 to Affluence Shares and Stocks, a broker that made up to 66% of the company's standalone revenue for that period. But Affluence, in formal depositions to the regulator, said it had not done any business with REL.Following the transaction trail, the investigators found out that the transactions were personal gold derivative trades executed by promoter Mehta using his own brokerage account and then recorded in the company's books as corporate sales, the order said.The investigators also found that Mehta used corporate funds. As per the Sebi observations, bank records show REL transferred ₹338.90 crore directly into Mehta's personal accounts between April 2020 and September 2025.Unlike in the case of Nirav Modi or Gitanjali Gems, who are accused of bank fraud, Rajesh Exports doesn't appear to have borrowed big from banks or through sale of bonds, according to regulatory filings.The company's market cap was just over ₹3,000 crore, as per Thursday's closing share price. LIC (10.8%) and Bridge India Fund (8.46%) are its major institutional shareholders."It is striking that, even at a peak market capitalisation of ₹25,000 crore, the company did not hold any analyst calls, a basic expectation for a listed company of that scale," said Shriram Subramanian, founder and managing director of InGovern Research Services, a corporate governance advisory firm.The regulator in 2024 hired BDO India Services to investigate. But the forensic audit faced problems at almost every stage of the investigation. It was denied access to ERP systems and was not provided a complete journal dump, preventing independent verification of transactions recorded in the books, according to the regulatory report.And the company declined to share subsidiary-level records with the investigator, citing Swiss data protection laws, limiting auditors largely to reviewing financial statements prepared by the management itself rather than underlying evidence, it said.What's also come under the scanner was the conduct of statutory auditors for the last few years: CA PV Ramana Reddy, the proprietor at PV Ramana Reddy & Co, and CA PL Venkatadri, partner at BSD & Co.The company's FY24 and FY25 annual reports, filed with the stock exchanges, carry an unqualified opinion from BSD & Co, which concluded that the financial statements presented a "true and fair view" in line with Indian Accounting Standards.The company's FY24 Directors' Report noted that the statutory and secretarial auditors had made no qualifications, reservations or adverse remarks.The Sebi report said for over five months, the auditors sat on the regulator's request for missing documents and statements.Emails sent to both audit firms did not elicit any response.REL closed 5% lower at ₹103.92 Thursday on the NSE. The shares are down from their peak of ₹1,028.40 on February 6, 2023.

A.P. Cabinet approves new aviation policy to boost passenger handling capacity, cargo volume

It clears funds for large-scale celebration of International Yoga Day 2026 from June 7 to 21, and also okays establishment of a unit to promote preventive healthcare through yoga and naturopathy

Anushka Sharma promotes homeopathy as ‘key part’ of her life; faces Internet fury: ‘Getting best treatment, but...’

Social media users felt that Anushka Sharma, who lives in London and has access to the best of healthcare, should not promote homeopathy to her over 60 million followers who do not enjoy the same privilege.

Vodafone Idea shares rally 7% to fresh 52-week high despite market crash. What's behind the surge?

The shares of Vodafone Idea sharply surged nearly 7% to a new 52-week high of Rs 15.09 apiece on the NSE on Wednesday, even as the Sensex and Nifty crashed, as multiple tailwinds boosted investor sentiment for the telecom major.The stock has rallied 46% in one month and a whopping 121% in one year. The company currently has a market capitalisation of more than Rs 1.62 lakh crore.ICRA upgrades Vodafone Idea’s rating, revises outlookRatings agency ICRA upgraded Vodafone Idea’s rating to A- from its earlier BBB rating and revised its outlook on the company’s long-term fund-based loans worth Rs 727 crore to ‘Stable’ from ‘Positive’. ICRA said that the rating upgrade was driven by a change in rating approach for Vodafone Idea to factor in support from promoter Aditya Birla Group, which was further strengthened with the re‑appointment of Kumar Mangalam Birla as the Chairman of the board and with the proposed equity infusion of approximately Rs 4,730 crore through a preferential allotment of warrants to a promoter group entity in May 2026. “These developments reflect strong confidence in Vi’s potential and long-term growth trajectory. The Aditya Birla Group has expressed its continued support to Vodafone Idea to ensure timely debt servicing and to ensure continuity of operations and improvement in its market position. The Aditya Birla Group has been consistent in providing operational and financial support to Vi and will continue to do so going forward. Further, the Group’s brand equity and market position provided Vi with assistance in Government engagement and higher financial flexibility,” it added.ICRA also highlighted the revision of Vodafone Idea’s adjusted gross revenue (AGR) dues. In May, the Department of Telecommunications (DoT) cut Vodafone Idea's AGR dues by 27% to Rs 64,046 crore as of December 31. This revision significantly alleviates the company’s liability burden and enhances cash flow visibility, the ratings agency said, adding that these will provide a push to the telco’s capex plans.Citi removes ‘High Risk’ rating on Vodafone Idea sharesCiti removed its 'High Risk' rating on the stock and raised its target price to Rs 17, implying an upside potential of more than 20% from the previous closing price. In its latest note, Citi Research changed its rating on Vodafone Idea shares to ‘Buy’ from ‘Buy-High Risk’, citing several tailwinds, including the government’s recent reassessment of AGR dues, rating upgrades, equity infusion by the Aditya Birla Group, and other factors into consideration.The brokerage, however, flagged key risks to its bullish view, including delays in bank funding, intensifying competition that could limit future tariff hikes, continued subscriber churn, and slower-than-expected growth in 4G and 5G users.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

‘The Pink Tag Project’ Initiative By Sanjeevani-United Against Cancer Wins Silver At 2026 Clio Health Awards

The Pink Tag Project, a first-of-its-kind breast cancer awareness initiative, was recognised for its innovative approach to promote early detection & raise awareness among women.

Alkem Labs sees Rs 930 crore block deal as promoter family entities pare stake; Goldman, Morgan Stanley among key buyers

Shares of Alkem Laboratories witnessed block deals worth about Rs 930 crore on Tuesday, with promoter family entities selling shares to a clutch of domestic mutual funds and foreign institutional investors. According to NSE block deal data, a total of 17.88 lakh shares changed hands at Rs 5,200 apiece. The transaction value works out to about Rs 930 crore.On the sell side, Jayanti Sinha sold 12.38 lakh shares, while Samprada & Nanhamati Singh Family Trust offloaded 5.5 lakh shares. Together, the two sellers divested 17.88 lakh shares. The shares were acquired by a mix of domestic and foreign institutional investors.Among the largest buyers were ICICI Prudential Mutual Fund, which purchased 9.04 lakh shares, and HDFC Mutual Fund, which bought 5.1 lakh shares. Other participants included DSP Mutual Fund, Nippon India Mutual Fund, Morgan Stanley Asia Singapore, Goldman Sachs Bank Europe, BNP Paribas Arbitrage, Societe Generale and Edelweiss Mutual Fund.The deal comes after a strong run in Alkem Laboratories shares over the past year, supported by steady growth in its domestic formulations business, improving margins and a recovery in its US operations.Alkem is among India's leading pharmaceutical companies with a strong presence in acute therapies, chronic segments and international markets. The participation of large domestic mutual funds in the transaction suggests continued institutional interest in quality healthcare names despite broader market volatility.Shares of Alkem Laboratories are likely to remain in focus as investors assess the impact of the stake sale and changes in promoter shareholding following the transaction.

Andhra Pradesh allocates ₹62.20 crore to promote green manure cultivation

Government sanctions 91,918 quintals of seeds for distribution to farmers to improve soil health and boost sustainable agriculture, says Agriculture Minister

Plant ‘Ek Ped Maa Ke Naam’ on World Environment Day, exhorts BJP leader Madhav

The programme not only promotes environmental protection but also symbolises respect and gratitude towards mothers, says the BJP State president

Artist-in-Residence initiative launched in Shivamogga

Yugashri S.A., a visual artist and art promoter, has launched Aaspada Art Space in Shivamogga. She wishes to conduct many programmes to promote art in the city

ED arrests promoters of Earth Infrastructures Ltd. in home buyer fraud case

The agency alleges the group collected ₹2,004 crore from more than 19,425 home buyers and promised timely deliver, but ₹467 crore was siphoned off through related entities and persons

ED arrests 4 in Rs 2,004-crore fraud case

New Delhi: The Enforcement Directorate (ED) has arrested four promoters of a real estate group in connection with a money laundering probe into an alleged Rs 2,004-crore homebuyer fraud that affected more than 19,000 buyers and investors.The accused, Avdhesh Kumar Goel, Rajnish Mittal, Atul Gupta and Vikas Gupta, are promoters/directors of Earth Infrastructures Ltd. They were arrested on June 1 under the Prevention of Money Laundering Act (PMLA), an official statement said on Tuesday.The accused were produced before a special PMLA court in Delhi, which granted the agency five days' custody for interrogation, it said.Read More: Signature Global commits Rs 1,200-1,500 crore for land acquisitions in FY27According to the federal agency, the group collected around Rs 2,004 crore from more than 19,425 homebuyers and investors by promising timely delivery of residential and commercial units and assured returns.The agency alleged that its probe found approximately Rs 467 crore had been diverted or siphoned off through various group entities and related concerns and individuals."Despite receipt of substantial funds from the buyers/investors, the projects were either left incomplete or possession of units was not handed over, thereby causing wrongful loss to the homebuyers and investors," the ED said.The probe further revealed that a part of the alleged proceeds of crime was used for acquisition of movable and immovable assets in the names of various entities and individuals connected with the promoters and directors of the group, it said.The investigation was initiated based on five FIRs registered by the Economic Offences Wing (EOW) of Delhi Police against Earth Infrastructures Ltd, its directors and related entities under various provisions of the Indian Penal Code.The Serious Fraud Investigation Office (SFIO) has also filed a criminal complaint under Section 447 of the Companies Act against the promoters and directors of the group.Read More: Amazon adds 10.6 acres to Mumbai data centre campus in Rs 125 crore dealEarlier in April, the ED had conducted searches at premises linked to the Earth Group across Delhi-NCR.During the raids, the agency seized cash worth about Rs 6.30 crore, jewellery valued at around Rs 8.78 crore and property documents relating to more than 100 immovable properties estimated to be worth over Rs 100 crore.

₹2,004-crore homebuyer fraud: ED arrests 4 promoters for duping over 19,000 buyers

₹2,004-crore homebuyer fraud: ED arrests 4 promoters for duping over 19,000 buyers

2700-year-old ‘Munivahana Seva’ replicated in Tirupati to promote caste equity

Government teachers carry a Dalit colleague into a Tirupati temple, re-enacting a 2,700-year-old episode linked to the Sri Vaishnavite saint Tiruppan Alwar

NHPC shares tumble 5% as govt’s OFS worth up to Rs 4,300 crore opens at 8% discount. Check details

Shares of NHPC fell nearly 5% to Rs 73.42 apiece on Tuesday after the government launched an offer for sale (OFS) to divest up to a 6% stake in the PSU. The OFS, which opened for non-retail investors on Tuesday, was priced at Rs 71 apiece, a discount of nearly 8% to the stock's previous closing price, weighing on investor sentiment.NHPC announced on Monday that the government aims to sell 3% of the company’s total paid-up equity capital as part of the base offer. The government also retains an oversubscription option to sell an additional 30 crore shares, taking the total potential offer size to 60.27 crore shares or 6% equity. At the floor price of Rs 71 per share, this would be worth more than Rs 4,279 crore.The offer for sale opened for non-retail investors on June 2, while retail investors, eligible employees and non-retail investors carrying forward unallotted bids can participate on June 3.Also read: Vedanta shares fall after media reports of ED searches at Mumbai, Delhi officeThe government owned more than 67% stake in the PSU company as of March 31, 2026. NHPC, in its exchange filing, further said that the share sale by its promoter will be conducted through a separate window mechanism on BSE and the National Stock Exchange in accordance with the Securities and Exchange Board of India’s OFS guidelines.NHPC’s OFS comes days after the government divested some of its stake in state-run miner Coal India through an offer for sale at a floor price of Rs 412 per share. The government owned more than 63% stake in the PSU company as on March 31, 2026.NHPC share priceNHPC shares have fallen more than 6% in one week and 12% in one month. The stock is down around 8% in 2026 so far and 16% in one year. In the longer term, the stock delivered 70% returns over three years and 185% over five years.Also read: Morgan Stanley says Indian stock market poised for strong year ahead. Here’s why The company currently has a market capitalisation of more than Rs 73,760 crore. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

FEMA case: ED conducts searches against Vedanta Group

The Enforcement Directorate (ED) has initiated searches against the Vedanta Group as part of a Foreign Exchange Management Act (FEMA) investigation. The action against the mining conglomerate, promoted by Anil Agarwal, commenced on Monday. Further details regarding the ongoing FEMA probe are yet to be disclosed by the central agency.

Collector promotes fuel conservation by riding electric bike in Puttaparthi

Launching the second phase of an awareness drive, Shyam Prasad appeals to the public to reduce fuel consumption and adopt environmentally sustainable alternatives