🇮🇳 인도 · "REALITY" · 총 18건
필터 보기현재 지수
50.0
0 = 부정 우세
50 = 중립
100 = 긍정 우세
최근 7일 기준 5,491건을 분석한 결과, 뉴스 심리지수는 50.0(균형)입니다. 긍정 0건(0.0%)·중립 5,491건(100.0%)·부정 0건(0.0%)이며, 중립 비중이 뚜렷하게 높습니다. 성향 지수는 종합 0.0(중도 균형)입니다.
CJI Kant said AI is reshaping governance, commerce, warfare, communication, public administration, and the exercise of judicial and sovereign power itself
A stunning video uncovers the alarming reality of a fire onboard the USS Gerald R. Ford, the latest pride of the US Navy, challenging previous accounts. Crew members recounted a harrowing struggle for life as fire suppression measures faltered, leading to severe destruction in living quarters and infrastructure.
For most investors, the focus is often on finding the right stock, entering at the right valuation, and identifying the next multibagger. Far fewer spend time understanding what may be the more difficult aspect of investing—knowing when to sell.Speaking at the ET Alpha Wealth Summit on Thursday on "The Art of the Exit," Rajiv Thakkar, CIO and Director at PPFAS Asset Management said that successful investing is not just about buying well but also about staying invested long enough for compounding to work. In fact, before discussing reasons to sell, he spent considerable time explaining why investors should avoid selling in the first place.According to Thakkar, one of the biggest mistakes investors make is selling because a stock has not moved for a few months.Also Read | ET Alpha Wealth Summit: Future alpha may emerge from neglected markets and asset classes, says Kalpen Parekh Investors often spend significant effort researching a company, understanding management quality, assessing industry prospects and evaluating valuations. Yet after purchasing the stock, many lose patience if prices remain stagnant for six months or a year.https://youtube.com/shorts/RiLj-X02NNE?feature=share"Investments are meant for wealth creation, not entertainment," he said, cautioning against treating investing like a source of excitement or constant action.Another common trigger for unnecessary selling is reacting to news flow. Markets are constantly bombarded with information—wars, elections, crude oil fluctuations, interest-rate decisions, capital flows and economic data. Investors who react to every headline often end up making poor decisions.To illustrate this, Thakkar recounted the story of an investor who received advance information about the severity of the Covid outbreak in early 2020. Acting on that information, the investor sold his technology stocks before the market crash. While the prediction turned out to be accurate, fear prevented him from re-entering the market, and he ultimately missed one of the strongest rallies in technology stocks.The lesson, according to Thakkar, is that even correct information does not necessarily translate into successful investment outcomes. Thakkar was particularly critical of the concept of "profit booking."Investors often feel compelled to sell simply because a stock has appreciated significantly. However, he argued that wealth is created by allowing successful investments to compound rather than by repeatedly locking in gains.Frequent buying and selling may benefit brokers, exchanges and tax authorities, but it often works against long-term investors. Hyperactivity in portfolios can destroy wealth by interrupting compounding and increasing costs.Similarly, investors should avoid selling because another stock appears more attractive. This "buyer's remorse" mindset frequently causes investors to abandon good businesses prematurely in pursuit of seemingly better opportunities."If you manage to find a genuinely good business with strong management, a large opportunity set and reasonable valuations, the best course of action is often to simply stay invested," he said.Thakkar emphasised that investors in taxable jurisdictions such as India should maintain low portfolio turnover whenever possible. Unlike institutional structures such as mutual funds or investors in tax-free jurisdictions, individual investors face taxes and transaction costs every time they trade. Excessive churn can significantly reduce long-term returns.For wealthy investors, family offices and HNIs, the ability to remain invested and minimise unnecessary transactions often becomes a major source of compounding advantage.Also Read | ET Alpha Wealth Summit: India could unlock a $5 trillion export opportunity through FTAs, says Saurabh Mukherjea While most reasons for selling are flawed, Thakkar identified several situations where exiting an investment becomes necessary. The most obvious reason is the need for capital. If an investor requires money for a business opportunity, acquisition or personal objective, selling investments may be entirely justified. More importantly, investors must be willing to acknowledge mistakes.If an investment thesis turns out to be wrong because of flawed analysis, poor due diligence or changing circumstances, the best course is often to exit quickly rather than averaging down endlessly.According to Thakkar, investors who recognise mistakes early frequently outperform those who identify good opportunities but refuse to sell losing positions. Capital trapped in poor investments cannot be deployed into better opportunities. Fraud, naturally, represents an immediate reason to exit.One of the more challenging selling decisions arises when industries face structural disruption. Questions such as whether newspapers can survive the internet, whether thermal power can coexist with renewable energy or whether traditional automobile manufacturers can adapt to electric vehicles rarely have straightforward answers.Thakkar suggested that investors should not react impulsively but should continuously evaluate incoming evidence. Investment decisions should be driven by facts rather than sentiment. If the underlying business continues to deteriorate because of technological or structural change, investors must eventually acknowledge reality and exit.At the same time, distinguishing genuine disruption from temporary noise remains critical. Exceptional businesses are not immune to becoming overvalued. Thakkar pointed to situations where valuations become so excessive that future growth is already fully reflected in stock prices. In such cases, taking profits, paying taxes and reallocating capital may be sensible.He also noted that investors may sell a reasonably valued investment if a significantly superior opportunity emerges elsewhere.During the question-and-answer session, investors raised concerns about stocks that stop performing despite sound fundamentals. Examples such as Maruti Suzuki, Bharti Airtel and even silver investments highlighted a common dilemma: should investors exit after years of gains and subsequent consolidation?Also Read | MF Tracker: Can ICICI Prudential Multicap Fund sustain its strong track record in a volatile market? Thakkar's response was that even excellent businesses can spend years moving sideways. Companies such as Hindustan Unilever, Infosys and Bharat Electronics have all gone through extended periods of stagnant share-price performance despite remaining fundamentally strong businesses.Investors should therefore distinguish between stock-price performance and business performance. As long as the underlying business continues to execute well, temporary market stagnation alone is not a sufficient reason to sell.For investors worried about selling too early, Thakkar recommended a phased approach. Instead of attempting to identify exact market tops, investors can gradually reduce exposure over time. For instance, if a stock appears significantly overvalued, an investor might sell a portion every month rather than exiting entirely in one transaction.This systematic approach helps manage the emotional difficulty of selling while reducing the risk of poor timing. Another important consideration is position sizing. Addressing a question about highly successful investments such as Nvidia, Thakkar noted that even outstanding businesses can become disproportionately large components of a portfolio.When a single stock grows from a small allocation into a dominant position, investors face a different risk—wealth preservation rather than wealth creation. His solution is gradual trimming. Investors can periodically reduce oversized positions to maintain comfortable portfolio weightings while still participating in future upside.This approach may not maximise returns, but it significantly reduces the risk of catastrophic losses and helps investors sleep better during periods of volatility.Thakkar concluded by stressing the importance of diversification and long-term investing. Most individuals create wealth through a single business, profession or sector. Their financial portfolios should therefore diversify away from that concentration rather than amplify it.Whether through mutual funds, retirement vehicles such as NPS, EPF and PPF, or diversified portfolios, investors should focus on owning inflation-protected assets for long periods. "The lower the churn in a portfolio, the greater the opportunity for compounding," he said.Ultimately, successful investing is not about perfectly timing every entry and exit. It is about avoiding unnecessary activity, admitting mistakes quickly, remaining patient with good businesses and ensuring that no single investment becomes large enough to threaten long-term financial stability.(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 alongwith your age, risk profile, and Twitter handle.
Recent employment data reveals an unprecedented surge in early-career resignations, proving that the reality of these positions rarely aligns with the digital hype
The Indian rupee is trading around Rs. 95-96 to the dollar in late May 2026, setting fresh record lows. Markets are openly discussing the Rs. 100 threshold. The rupee has weakened in almost every year since 2014 and has lost approximately half its value against the dollar over that period. The end of this currency depreciation is not in sight. The factors that would stop it are not yet visible.The government is acting. State run oil companies have implemented four fuel price hikes in ten days as of May 25, taking petrol in Delhi past Rs. 102 per litre. This is the right and necessary response to the energy cost reality created by the Iran war. Crucially, the Modi government has also done its part on the macroeconomic front, consistently and aggressively reducing the fiscal deficit as a percentage of GDP to maintain structural stability.Yet, the currency pressure persists. The energy price impact has not yet fully reached Indian consumers and supply chains. It is coming.Uday Kotak said it plainly at the CII Annual Business Summit on May 12: "Be ready for tough times rather than waiting for the shock to hit us." He was right.Also read | Manufactured monopoly: How industrial policy is structuring monopolies in IndiaThis is not a time to panic. But it is a time to act. The leaders who move now will have options. Those who wait will not.The Overriding Factor: The Psychology of the PlayersWhy is the currency declining despite strong domestic fiscal discipline? Because exchange rates are not driven by mathematical models alone. The currency decline is highly affected—and accelerated—by the psychology of all players engaged in this endeavor.Currency movements are deeply behavioral. When a currency visualizes a downward trend, psychology shifts from calculation to self-protection and speculation. Every player in the ecosystem operates under this psychological weight:Corporate CFOs and Treasurers: Instead of hedging normally, they rush to cover future dollar liabilities early, hoarding hard currency and inadvertently worsening the scarcity.Foreign Investors: They begin to judge their returns not by the quality of Indian business operations, but by the eroding value of the conversion rate.Importers and Exporters: Importers advance their payments to avoid paying more tomorrow; exporters delay converting their dollar earnings back into rupees, waiting for a "better" rate. This collective psychology creates a self-fulfilling prophecy.Investors, CFOs, and FDI decision makers extrapolate what is happening now into the future. When they see a currency that has lost approximately half its value since 2014 with no clear floor in sight, their psychological pivot alters market realities.Also read | India tightens checks on overseas flows as currency pressure mounts, sources sayThe cascading timeline of Foreign Portfolio Investor (FPI) equity behavior perfectly mirrors this psychological shift from rational evaluation to systemic risk aversion:2024 (The Calculation Phase): Rupee averages Rs. 83-84. FPI flows remain positive (+$12 billion) as investors trade on strong domestic corporate earnings.2025 (The Self-Protection Phase): Rupee slides past Rs. 89. Collective psychology shifts to risk mitigation. FPIs withdraw a record $18.4 billion from Indian equities—the largest annual equity outflow on record.Early 2026 (The Capitulation Phase): Rupee breaks past Rs. 95. Sentiment turns into an outright exit strategy. In the first four months of 2026 alone, outflows have already reached $19.1 billion, completely bypassing the entire previous year's record loss in a fraction of the time.FDI agreements are being signed, but capital is delayed because players are psychologically hesitant to deploy funds into a depreciating asset.The Trap of Hard Currency Debt: A Broken Business Model There is a highly significant and dangerous phenomenon unfolding in India today that requires immediate exposure. For years, a specific class of Indian corporates adopted a regular strategy of borrowing heavily in hard currency (External Commercial Borrowings, or ECBs). Lured by low nominal global interest rates, several of these companies over borrowed, treating cheap dollar debt as a permanent structural advantage.Today, that strategy has become a trap. The compounding effect of a depreciating rupee, skyrocketing hedging costs, and brutal refinancing realities is fundamentally breaking their business models.Consider the mechanics of this crisis:The Hedging Penalty: Leaving dollar debt unhedged is now corporate roulette. However, buying hedges at current rupee levels has become structurally prohibitive. The cost of protection completely wipes out any interest rate advantage.The Refinancing Wall: Billions in foreign debt are coming due. These over-borrowed companies must now refinance their liabilities at a time when the rupee value has materially deteriorated. They are effectively forced to borrow far more rupees just to pay back the same amount of original dollars.The Crushing Cost of Rupee Capital: As these companies try to pivot back to domestic lenders, they face a severe escalation in their rupee cost of capital.The Growth Verdict: When your cost of capital spikes and your cash flows are consumed by servicing legacy dollar debt, future growth stops. Capital expenditure (CapEx) plans are being frozen. These companies can no longer invest in innovation, capacity, or market expansion. Their business model shifts overnight from aggressive value creation to basic survival. Boards must realize that this is not a temporary treasury headache; it is a structural threat to the company’s future viability.India's forex reserves stand at approximately 10 to 11 months of import cover. Substantial, but being actively deployed to defend the currency. Some imports are non-negotiable: oil, critical inputs, components. These will now cost more. That cost passes through every supply chain.Six Actions for Business Leaders1. Protect your cash and liquidity first. This is the most immediate priority. Map your cash position today. Identify every source of liquidity across the next twelve months. Stress-test it at Rs. 100 and beyond. Which receivables are at risk? Which credit lines are rupee-denominated and which are not? Companies that run into a cash crisis during a currency depreciation cycle lose their options entirely. The CFO must own this analysis and present it to the board within days, not weeks.2. Act now on your foreign currency borrowings, hedging, and refinancing. Do not assume the rupee will recover to Rs. 80. Analyse your full foreign currency exposure across the next three years: every loan, every refinancing date, every hedging contract, every procurement price denominated in foreign currency. Hard currency loans now face refinancing at rupee values that have materially deteriorated. Model every scenario at Rs. 100 and beyond. Your CFO, treasury, and procurement team must be aligned on one instruction: do not run into a liquidity crisis. This analysis must happen now, not at the next quarterly review.3. Build a war room. Most companies have begun thinking about war rooms for supply chain disruptions. Expand the mandate. Currency exposure belongs in the same room. Which of your costs are dollar or euro denominated? Which of your revenues are rupee denominated? Where is the mismatch? What is your break-even exchange rate? If you do not have clear answers today, you are exposed. The war room is not a committee. It is a real-time decision environment with live data, a clear owner, and the authority to act.4. Use the currency depreciation advantage: double your export salesforce. A weaker rupee makes Indian exports more competitive. This window will not stay open indefinitely. Double the salesforce in your export markets now. Use this period to upgrade quality, improve service delivery, and build customer relationships that will last beyond the currency advantage. Indian exporters who invest in capability during this period will emerge stronger regardless of what the rupee does next. Those who simply ride the price advantage without building the underlying business will lose when conditions change.5. Watch your stock and your sector. Banks and financial institutions should already be on high alert. Companies with large foreign currency exposure will see pressure on their financials. Some stock prices are already reflecting this. Go through your sector company by company. Identify who is most exposed. If you are an investor or a lender, this analysis is not optional. The combination of currency depreciation, rising oil prices, and FPI outflows creates a compounding pressure that will surface in earnings before it surfaces in headlines.6. Cut costs aggressively. AI will help. There has never been more urgency to reduce costs than now. And there has never been a better tool to do it. AI can cut most operational costs by as much as 30% across functions: procurement, finance, customer service, logistics, and compliance. McKinsey data confirms companies adopting AI and automation reduce operational costs by 20 to 30 percent. This is not a future opportunity. It is a present imperative. Every rupee of cost removed through AI is a rupee that does not need to be recovered through revenue in a deteriorating currency environment. Start now with your highest-cost functions.The CFO as CaptainCurrency risk is a cash flow risk. Every function that touches foreign currency—procurement, treasury, sales, capex planning— must now report into a single coordinating authority. That authority is the CFO. This is not about hierarchy. It is about clarity. In a currency crisis, fragmented decision-making is as dangerous as wrong decision making. One captain. One consolidated view. Weekly reviews minimum.The Bigger PictureThis currency depreciation is a structural signal, not a cyclical one. India's economy must move from a cheap labour advantage to genuine global value creation.The companies that will survive and thrive are those building products and services that command premium prices in global markets. The rupee's weakness is a reminder that competing on cost alone has limits.The recently concluded trade agreements are a genuine opportunity. Execute them with full force. Build the export pipelines. Add the sales capacity.The businesses that move now, with discipline and clarity, will manage market psychology, navigate the debt trap, and define the next chapter of Indian industry.The shock is coming. Prepare before it arrives.Ram Charan is the author of China’s 90% model. It is restricting India’s industrial progress. Former Director of Hindalco and Muyuan (China).
The 2026 FIFA World Cup will be the biggest tournament in soccer history, spread across 16 cities in the United States, Canada and Mexico. For millions of fans, getting to the games may prove almost as challenging as the matches themselves.With airfares climbing, gasoline prices rising and airport security lines stretching patience to the limit, North America's rail and bus operators see the month-long tournament as a rare opportunity: a chance to persuade travelers to swap planes and cars for trains, buses and public transit.For transportation providers, the World Cup is more than a sporting spectacle. It is a high-stakes audition before a global audience."We want you to be able to use our system seamlessly from the minute you decide to come to the World Cup, all the way into the games, and after that to get home," said Conan Cheung, chief operations officer for LA Metro, the public transportation authority serving the Los Angeles region.Los Angeles, which will host eight matches including the U.S. team's opening game, hopes the tournament will help reshape perceptions of a city often synonymous with traffic jams and sprawling freeways.For Cheung, the objective extends beyond impressing foreign visitors. The World Cup is also an opportunity to convince more Angelenos to embrace a public transportation system that has expanded significantly in recent years.That challenge resonates across much of the United States and Canada, where public transit networks are often less extensive than those found in Europe or Asia and where private vehicles remain the preferred mode of transport."Transit providers have an opportunity to provide service to a group of people who do not typically use transit on a day-to-day basis," said Yonah Freemark, a principal research associate at the Washington-based Urban Institute."Many of the World Cup fans coming from the U.S. or Canada do not necessarily use transit services regularly."The impressions those travelers form during the tournament could have lasting consequences."They should be making sure that the services they provide are high quality and not too expensive, because the people who are riding them are going to form an impression of those transit agencies — and there's a chance to really prove that they can provide a good service," Freemark said.Opportunity meets realityYet attracting new riders may prove easier than accommodating them.The World Cup's 104 matches will unfold across four time zones and thousands of miles, placing enormous demands on transportation networks already operating close to capacity.Ground transportation companies are eager to capitalize on soaring airline costs, but many are also wrestling with higher operating expenses of their own, particularly fuel prices.That leaves operators balancing competing priorities: attracting new customers while avoiding disruptions or price increases that could alienate the commuters who rely on them every day.For intercity bus giant FlixBus, the tournament represents a significant growth opportunity.Together with sister brand Greyhound, the company operates one of North America's largest transportation networks and says demand between host cities is already accelerating, with some departures sold out and others filling rapidly.Ahead of the tournament, the company has invested heavily in new buses and technology while placing renewed emphasis on punctuality."What is critical here is every Flix experience needs to be a happy one. That's how we actually grow our business. And this is a great opportunity," said Flix North America CEO Kai Boysan."We will welcome all the new customers and we want them to see what a change we've done and what a great experience they're going to have."Boysan believes buses are well-positioned to benefit from frustrations increasingly associated with air travel."Airports are congested and the costs are rising. And clearly travelers are naturally looking for alternatives. And there we come into effect," he said.The price problemWhile operators hope to lure travelers away from planes, some transit agencies have faced criticism for sharply increasing fares during the tournament.Few examples generated more backlash than New Jersey Transit, whose train service between Manhattan and MetLife Stadium — venue for eight matches including the July 19 final — initially carried a round-trip fare of $150 for a journey that normally costs less than $13.NJ Transit argued that the increase was necessary to cover approximately $48 million in additional costs related to security, crowd management and World Cup operations.Public criticism forced a rethink.The agency subsequently lowered the fare to $98 after securing additional advertising revenue, while shuttle bus prices on the same route were cut to $20 from the originally proposed $80 after organizers arranged additional capacity through local school buses.Boston has also announced higher event-day transportation prices. Round-trip rail tickets between downtown Boston and the stadium hosting seven World Cup matches will cost $80, compared with the usual $20 to $30, while a bus ride will cost $95.The fare hikes have drawn criticism from politicians, including U.S. Senator Chuck Schumer."Charging more than 11 times the normal fare for a train ride is a ripoff, plain and simple. FIFA is making billions from this World Cup," Schumer said after the original New Jersey fare was announced."FIFA should cover the ride, not stick New York fans with the bill."FIFA has countered that high transit costs could encourage fans to seek alternative ways to reach stadiums and noted that comparable international sporting events have generally not required organizers to fund transportation impacts.Different approachesNot every city has opted for higher prices.In Los Angeles, riders heading to World Cup matches will pay standard fares."Our regular fare is $1.75, so people will be able to pay that," said Cheung. "We will honor all of the discounts we have."Philadelphia is going a step further.Fans attending matches in the city will pay just $2.90 to travel to the stadium by train and receive a free ride home, courtesy of tournament sponsor Airbnb.National rail operator Amtrak is also preparing for increased demand as supporters move between host cities throughout the month-long competition."We are fully committed to running a world-class railroad ... and ensuring our infrastructure is ready to accommodate new and returning guests," said W. Kyle Anderson, Amtrak's director of communications.For transportation providers across North America, the World Cup offers a fleeting but valuable chance to showcase what their systems can do.The tournament will crown a world champion on the field. Away from the stadiums, trains, buses and transit networks will be competing in a contest of their own — to convince millions of travelers that public transportation can be fast, reliable and worth returning to long after the final whistle.
The study followed 251 children growing up in an urban slum.
The long wait for the NSE public listing appears to be entering its final stretch. The exchange recently confirmed that it expects to file its draft red herring prospectus (DRHP) by the second week of June, putting the country's most anticipated IPO one step closer to reality.The update has once again sparked interest in NSE's unlisted shares, which continue to change hands actively in the private market. With the DRHP now less than two weeks away, investors may want to know does it still make sense to buy NSE shares before the IPO?The answer from analysts is nuanced. Most experts agree that NSE remains one of India's strongest financial franchises. However, they also caution that investors should not treat the approaching IPO as an automatic opportunity for quick gains.NSE currently trades in the unlisted market at around Rs 1,950-2,050 per share, implying a valuation of roughly Rs 5 lakh crore. That valuation already reflects significant optimism around the company's eventual listing."NSE is clearly one of India's strongest capital-market franchises and remains one of the most awaited IPO candidates. However, investors looking to buy unlisted shares purely because the DRHP filing is close should exercise caution," said Paresh Bhagat, CIO of Veer Growth Fund and chairman of Mangal Keshav."The business quality is not in question. The key risk is valuation and entry price." Bhagat noted that based on FY26 profit after tax of around Rs 10,300 crore, the exchange is already valued at nearly 48-50 times earnings.While NSE enjoys dominant market share, strong profitability and significant cash generation, he believes much of that strength is already reflected in current unlisted market prices. One of the biggest assumptions among investors is that buying shares before the IPO guarantees a profit once the company lists. Analysts say that assumption may not always hold true.The eventual IPO pricing remains unknown. In many large public offerings, companies deliberately leave room for public market investors by pricing the issue below prevailing unlisted market valuations.If that happens, investors entering NSE at current unlisted prices could face limited upside or even temporary mark-to-market losses. "The pre-IPO window should not be seen as a guaranteed arbitrage opportunity," Bhagat said. "If the IPO is priced more reasonably for public-market investors, the gap versus current unlisted prices could be meaningful."Others echo the same concern. "I would avoid buying NSE unlisted shares purely on the expectation of the upcoming DRHP filing," said Arpit Jain, Joint Managing Director at Arihant Capital Markets."While the filing could be an important milestone in the IPO journey, a significant portion of the optimism around the listing is already reflected in the current unlisted market price." Jain pointed to several high-profile IPOs in recent years where strong excitement before listing did not necessarily translate into exceptional post-listing returns.He said investors should focus on valuation, offer pricing, market conditions and the final IPO structure rather than rushing to buy shares simply because the DRHP is approaching.At the same time, few analysts dispute the quality of the underlying business. NSE remains India's largest stock exchange and dominates equity derivatives trading. The exchange reported total income of Rs 18,713 crore and consolidated net profit of Rs 10,302 crore in FY26.Its capital-light business model, strong cash flows and dominant market position have made it one of the most sought-after names in the unlisted market.According to Nitant Darekar, Research Analyst at Bonanza, NSE currently trades at around 45 times FY26 earnings, based on earnings per share of Rs 41.62. While that valuation is not cheap, it remains below some listed peers."NSE remains a capital-light near-monopoly," Darekar said. "At around Rs 1,950-2,170 in the unlisted market, it trades near 45x FY26 earnings. That's rich, but below BSE at around 70x and MCX at around 80x."Darekar added that the recent settlement of the long-running co-location case has removed a major overhang on the IPO process. However, he cautioned that the exchange's earnings remain linked to derivatives trading activity, which can be volatile, especially after regulatory changes in the futures and options segment.He also highlighted another practical consideration for investors. "The urgency is real. Post-DRHP, fresh unlisted purchases face a one-year lock-in. But valuation, not the calendar, should drive the decision."That point is particularly important because many retail investors view the narrowing pre-IPO window as a reason to buy immediately.Ishan Tanna, Senior Associate at Ashika Capital, said history suggests otherwise. "Historically, buying unlisted shares very close to the IPO stage has not always offered the best risk-reward for investors," he said."In many cases, the biggest gains are made when IPO visibility is low and uncertainty is high. Once the DRHP gets filed and listing draws closer, valuations often become expensive as the IPO excitement premium starts getting priced in."Tanna said NSE remains a rare financial infrastructure asset with strong profitability and a dominant position in Indian capital markets, making it attractive for long-term investors.However, investors chasing quick listing gains should recognise that late-stage entry into pre-IPO stories often carries greater risks than many assume.For now, the consensus among market experts is that NSE remains one of India's highest-quality businesses and its IPO will likely attract enormous investor interest. But with the stock already trading at elevated valuations in the unlisted market, investors may need to focus less on the countdown to the DRHP and more on whether the current price adequately compensates them for the risks ahead.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
In the video, Nitin discussed a common goal among Indians moving overseas: earning enough money to build substantial savings before eventually relocating back to India. However, he argued that the reality rarely unfolds as planned.
Suzlon Energy plans to challenge a recent Sebi order that imposed penalties of nearly Rs 29 crore on the company and several former executives over alleged accounting and disclosure violations. In an exchange filing, Suzlon said it intends to file an appeal before the Securities Appellate Tribunal (SAT) against the regulator's order dated May 29."The findings of Sebi in the said order are related to the financial statements of the company from FY14 to FY18. The company will be filing an appeal before the Securities Appellate Tribunal in respect of the Sebi order," the company said.The development comes a day after Sebi imposed penalties on Suzlon and a number of former senior executives following a long-running investigation into the company's historical financial reporting practices.The market regulator levied a penalty of Rs 15.95 crore on Suzlon, while former executive Vinod R Tanti was fined Rs 5.75 crore and Girish R. Tanti was penalised Rs 5.45 crore. Former group CFO Kirti J. Vagadia was fined Rs 1.5 crore, while former CFO Amit Agarwal was directed to pay Rs 30 lakh.Sebi action followed a forensic audit and investigation covering multiple financial years after the regulator received a complaint alleging irregularities in dealings involving subsidiaries and associate entities.The regulator concluded that certain transactions between Suzlon and its subsidiaries had the effect of overstating profits and strengthening the appearance of the company's financial position.Among the issues examined were transfers of businesses and investments among group entities, accounting treatment of contingent liabilities, impairment reversals and disclosures made in financial statements.According to Sebi, some transactions involving subsidiaries resulted in substantial accounting gains being recorded without reflecting the underlying economic reality of the arrangements. The regulator also questioned the treatment of certain liabilities and fund flows between group entities, concluding that the company's disclosures did not present a true and fair picture of its financial position during the period under review.Sebi said accurate financial statements are critical because investors rely on them while assessing the health and prospects of listed companies. The regulator held that the violations warranted monetary penalties under provisions relating to disclosure norms, listing regulations and fraudulent and unfair trade practices.Suzlon, however, has now moved to contest the findings before the appellate tribunal.The company has undergone a significant turnaround over the past few years after overcoming a prolonged debt crisis and has emerged as one of the biggest beneficiaries of India's renewable energy push. It recently reported strong operational performance and remains one of the country's largest wind energy equipment manufacturers.The appeal before the SAT will determine whether the regulator's findings and penalties are upheld, modified or set aside. Until then, the Sebi order remains in force.(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times.)
DK Shivakumar was unanimously elected as the CLP leader in a high-stakes meeting in Vidhan Soudha, after which he staked claim to form the next Karnataka government.
India's ambitious first bullet train project, launched in 2017, is now in its advanced construction phase, with viaducts and tunnels taking shape. Despite delays and cost escalations, the Mumbai-Ahmedabad corridor is set to revolutionize travel, with the first operational section anticipated by mid-2027. This endeavor signifies India's leap into high-speed rail technology.
In an environment where global equities are swinging between optimism around AI-led growth and anxiety over persistent inflation, elevated interest rates, and geopolitical uncertainty, investors are once again being tested, not on intelligence, but on psychology.Charlie Munger’s famous list of “human misjudgment tendencies” is not just a philosophical framework. It is, in today’s market, a practical survival guide.Markets in 2026 are still being shaped by three dominant forces:(1) higher-for-longer interest rates, (2) liquidity concentration in a few mega-cap stocks, and (3) emotionally driven retail participation.Against this backdrop, Munger’s behavioral warnings feel unusually relevant.1. The real enemy is not volatility, but emotional distortionMunger repeatedly warned that investors don’t lose money because they lack information, they lose because they misprocess it.Today’s markets amplify that problem.Every CPI print, Fed commentary, or geopolitical headline triggers immediate overreaction. Investors are constantly pulled between fear of missing out (FOMO) in AI-led rallies and fear of correction during rate jitters.This is a classic combination of:Availability bias (overweighting recent news)Social proof (following crowded trades)Stress-induced reaction (panic buying or selling)In Munger’s language, this is the setup for “avoidable stupidity.”2. “Envy and FOMO” are silently driving modern portfoliosOne of Munger’s strongest warnings was about envy, not as emotion, but as a financial destroyer.In today’s market, envy doesn’t look like jealousy of a neighbour. It looks like:Chasing AI stocks after they’ve already rerated sharplyComparing portfolio performance with index benchmarks dailyAbandoning long-term positions because “others are making faster money”When liquidity is abundant in a narrow set of names, envy becomes structurally embedded in portfolio behaviour. Investors are no longer asking “Is this a good business?” but “Am I missing this move?”That shift is dangerous in a market where leadership is concentrated and reversals can be abrupt.3. The “Lollapalooza effect” is stronger than everMunger described the Lollapalooza effect as multiple biases reinforcing each other into extreme outcomes.Today’s version looks like this:Social media hype amplifies narrativesAlgorithmic flows reinforce momentumPassive inflows concentrate capital into large indicesRetail traders amplify short-term spikesThe result: prices detach from fundamentals faster, and corrections become sharper when sentiment shifts.This is why today’s rallies often feel effortless, but reversals feel violent.4. Overconfidence is rising with “easy market memories”A prolonged period of strong returns, especially in largecap tech, creates what Munger called “excessive self-regard”.Many investors now assume:“Buying dips always works”“Quality stocks never go down much”“The Fed will rescue markets eventually”But in a higher-rate regime, that assumption is no longer guaranteed. Valuation compression risk is real, and earnings must now do more of the heavy lifting.Confidence built in one regime often breaks in another.5. The biggest risk today: avoiding pain too aggressivelyOne of Munger’s less discussed but critical ideas is “pain-avoidance behavior”.In today’s context, it shows up as:Selling winners too early to “lock in gains”Avoiding fundamentally strong but volatile sectorsSitting excessively in cash due to fear of drawdownsIronically, in trying to avoid discomfort, investors often underperform the very market they are trying to survive.6. What works in today’s market: Munger-style disciplineIf we translate Munger’s philosophy into today’s environment, a few principles stand out:(1) Concentrate only when conviction is realNot based on stories, but on durable cash flows and long-term pricing power.(2) Expect volatility as a feature, not a flawEven high-quality companies will see sharp drawdowns in a rate-sensitive world.(3) Reduce decision frequencyMost mistakes come from over-trading emotional signals disguised as “information.”(4) Build a bias checklistBefore acting, ask:Am I reacting to news or value?Am I following the crowd?Would I make this decision in isolation?7. The current market lesson in one lineIf Munger were observing today’s markets, the warning would likely remain unchanged:“The biggest returns still come from avoiding obvious psychological errors, not from predicting the next move.”Bottom lineToday’s markets are not irrational, but they are emotionally amplified. Liquidity, technology, and information speed have not removed human bias; they have accelerated it.That is exactly the environment where Munger’s framework becomes most powerful. Because in the end, investing success is still less about knowing more, and more about misbehaving less.
Tej Pratap’s transition to the screen is designed to offer viewers unprecedented, behind-the-scenes access to his personal and public life
He's set to be followed around by cameras for a show. He's also taken on a saint persona on Insta. None of it is a surprise if you've been scrolling enough.
Politics in Tamil Nadu has entered a disturbing and controversial phase after four All India Anna Dravida Munnetra Kazhagam MLAs resigned and joined the ruling Tamilaga Vettri Kazhagam led by Chief Minister C. Joseph Vijay. Critics have likened the development to the BJP’s much-criticised “Operation Lotus” strategy seen in several States. Is this simply the reality of coalition-era politics, or does it amount to a betrayal of TVK’s promise of clean and ethical governance?
These stories reveal a darker and increasingly contentious reality of modern divorce battles.