NDTV Top Stories
์ค๋ ์ฑํฅ
์ ์น
YouTuber Gives Home Tour, Shows Gold, Gets Robbed Of Items Worth Rs 10 Lakh
YouTuber Rachna Gurjar recently shared a video showing her house, jewellery, cash and lifestyle.
๐ฎ๐ณ ์ธ๋ ยท "RECENTLY" ยท ์ด 64๊ฑด
ํํฐ ๋ณด๊ธฐํ์ฌ ์ง์
50.0
0 = ๋ถ์ ์ฐ์ธ
50 = ์ค๋ฆฝ
100 = ๊ธ์ ์ฐ์ธ
์ต๊ทผ 7์ผ ๊ธฐ์ค 5,659๊ฑด์ ๋ถ์ํ ๊ฒฐ๊ณผ, ๋ด์ค ์ฌ๋ฆฌ์ง์๋ 50.0(๊ท ํ)์ ๋๋ค. ๊ธ์ 0๊ฑด(0.0%)ยท์ค๋ฆฝ 5,659๊ฑด(100.0%)ยท๋ถ์ 0๊ฑด(0.0%)์ด๋ฉฐ, ์ค๋ฆฝ ๋น์ค์ด ๋๋ ทํ๊ฒ ๋์ต๋๋ค. ์ฑํฅ ์ง์๋ ์ข ํฉ 0.0(์ค๋ ๊ท ํ)์ ๋๋ค.
YouTuber Rachna Gurjar recently shared a video showing her house, jewellery, cash and lifestyle.
New Delhi: Jack Danielโs whiskey maker Brown-Formanโs India managing director Gaurav Sabharwal said the US spirits company is โkeenly watchingโ developments on the India-United States trade deal. โThe positive signs have been there. We are very keenly watching that space because most of our business comes from American whiskey.โ The first phase of the bilateral trade agreement between the two countries may be finalised by mid-July, according to government officials. While the US and India discussed a possible trade deal earlier this year, discussions slowed down amid talks on sweeping tariffs.Brown-Forman, which operates as a 100% subsidiary in India, imports its full portfolio and doesnโt manufacture locally as of now. โFrom an overall impact, with inflation going up, petrol prices, transportation - that is going to put some pressure. The other is that as the consumers start looking at fighting inflation, discretionary spend is obviously the first thing that takes a knock. So we are keeping a close watch.โSabharwal said the West Asia war has โso far, not impacted its business in India, adding though that the spirits maker is keeping a close watch on any ripple effect that inflation and supply disruptions may have.โThe Kentucky-based spirits maker recently rejected two potential deals - a nearly $15 billion takeover offer from the US bourbon whisky maker Sazerac and merger talks with French spirits company Pernod Ricard. Last week, the spirits maker reported better-than-expected sales for the March โ26 quarter aided by steady demand for premium spirits, but cautioned about impact on consumer spending behaviour for the year. "We anticipate the operating environment for โfiscal 2027 to remain challenging, as macroeconomic pressures and geopolitical instability continue to negatively impact consumer behaviour and beverage alcohol consumption, particularly within developed markets," the company said in its earnings statement.Sabharwal said ready-to-drink concepts like Jack & Coke โare a growing space in India, but small.โ India had introduced Jack & Coke about three years back in select markets such as Goa, Haryana and Bengaluru. โIt's something which works pretty well with the legal drinking age - 25-30 years old. RTD is a growing space, but a smaller space as far as the Indian spirits and beer consumption goes. So we are still figuring out the rollout plan because one of the critical things is to get the pricing right and obviously one has to make the margins as well. The demand is there, but we just need to manage the system a little better.โ BrownโForman Corporation reported fourth quarter net sales increase by 2% to $912 million compared to the same year-ago period. Operating income decreased 53% to $96 million.For the India unit, while the mainstay remains Jack Danielโs, Sabharwal said the company is gradually building its portfolio to include Woodford Reserve and Herradura.โOne of the biggest mindset shifts is that the propensity to spend has gone up pretty much over the last 10 years. It's about people getting into the legal drinking age and numbers estimate that over the next five years we are going to be adding 20 million people into the legal drinking age every year. The legal drinking age will move anywhere between 18 to 25. Then there is change in social conditioning. Penetration numbers are also increasing. So you have a huge cohort coming in,โ he said.
HFCL shares extended their decline on Monday, falling nearly 5% in intraday trade to Rs 177.87, marking a second consecutive day of losses. The stock has now corrected about 10% in just two sessions, largely driven by profit booking after a stellar multi-month rally.Despite the recent pullback, HFCL remains one of the standout performers of 2026, having surged nearly 165% during the year on the back of strong defence orders, rising optical fibre demand, and robust order inflows.A key driver behind HFCLโs sharp upmove has been the growing global demand for high-speed digital infrastructure, fuelled by the rapid expansion of AI technologies. Optical fibre networks are increasingly seen as the backbone of this transformation, placing companies like HFCL in a strong structural growth position.Operationally, the company delivered a strong turnaround in the March quarter. Revenue nearly doubled year-on-year to Rs 1,824 crore, while EBITDA improved significantly to Rs 315 crore, compared to a loss in the previous year. Net profit also swung to Rs 184 crore from a loss of Rs 83 crore, reflecting a clear improvement in business fundamentals.According to Balaji Rao, Research Analyst at Bonanza, โThe structural shift is real, product revenue has grown from 27% of the mix in FY21 to 59% in FY26, and exports now account for 41% of revenue. Thatโs a business fundamentally changing its character.โOrder inflow remains supportiveRecently, HFCL received a purchase order worth approximately Rs 135.09 crore from RailTel Corporation of India, a Government of India PSU under the Ministry of Railways. The order is for the annual maintenance contract of the โSecure Operations Networkโ project for data centres supporting Indian defence forces.Valuation and technical concerns emergeAfter the sharp rally, valuation comfort has reduced, with HFCL trading at a price-to-earnings multiple of around 91.93, significantly higher than many peers in the telecom equipment space.From a technical standpoint, the stock also appears stretched. According to Trendlyne data, the 14-day Relative Strength Index (RSI) stands at 73.1, a level typically considered overbought, indicating the possibility of short-term consolidation or a pullback.In the March 2026 quarter, Foreign Institutional Investors slightly reduced their stake from 7.48% to 7.08%, while Mutual Funds increased their holdings from 6.68% to 6.92%, suggesting selective institutional interest despite recent volatility.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times.)
Lenskart Solutions' shares fell more than 2% to Rs 497 on the BSE on Monday after JPMorgan Chase's offshore subsidiary Copthall Mauritius Investment sold a stake in the company through a Rs 96 crore block deal. Stock exchange data showed that Hong Kong-based hedge fund Viridian Asia Opportunities Master Fund bought 18.96 lakh shares of the company. Viridian bought Lenskart shares at an average price of Rs 508.55 apiece, taking the value of the total stake purchase to more than Rs 96 crore, according to NSE data. The seller of these shares was JPMorgan Chaseโs offshore subsidiary Copthall Mauritius Investment Limited. The transaction was executed on Friday at an average price of Rs 508.55 apiece, which is slightly higher than Fridayโs closing price of Rs 506.45 apiece on NSE.Lenskart has seen multiple block deals recently. Last week, SoftBank affiliate SVF II Lightbulb (Cayman) pared its stake in the eyewear retailer by selling 5.65 crore shares at Rs 508.55 apiece. Several global and domestic institutional investors picked up shares. The buyers included funds managed by Goldman Sachs and Fidelity, alongside domestic institutions such as ICICI Prudential Mutual Fund, Kotak Mutual Fund, Mirae Asset Mutual Fund, Quant Mutual Fund, HDFC Life Insurance, and ICICI Prudential Life Insurance. The deal, valued at approximately Rs 2,873 crore, also attracted participation from several overseas pension and investment funds.Lenskart share priceLenskart Solutions shares made a subdued market debut in November last year, listing at Rs 395 apiece on NSE at a discount to the IPO price of Rs 402. The shares of the company then surged more than 41% to hit a record high of Rs 557.65 apiece in April this year.The stock is currently down over 9% from that level. However, it is up over 28% from its listing price and 26% from its IPO price. The shares of the company have fallen 2.5% in one week, but gained 15% in 2026 so far. The company currently has a market capitalisation of nearly Rs 88,000 crore.Brokerages on Lenskart share priceJefferies has a โBuyโ call on the shares of Lenskart, with a target price of Rs 600 apiece in its base case scenario. Goldman Sachs, meanwhile, has a โBuyโ rating on the shares of Lenskart, with a target price of Rs 625 apiece.Morgan Stanley, on the other hand, is โOverweightโ on the shares of Lenskart, with a target price of Rs 576 apiece. Elara Capital recently initiated coverage on the shares of Lenskart with a target price of Rs 615 apiece, highlighting that an integrated ecosystem and tech agility fortify the eyewear retailerโs edge amid low competition, vast opportunity, and superior store economics.Lenskart earnings snapshotLenskart in May reported a nearly 46% YoY surge in revenue from operations to Rs 2,516 crore for the January-March quarter of FY26, from Rs 1,727 crore in the year-ago period, leading to bullish brokerage calls and target price hikes.While the company reported a strong surge in revenue, its net profit declined 9% YoY to Rs 200 crore during the quarter under review, from Rs 219 crore in the corresponding quarter of the previous financial year.For the entire financial year which ended on March 31, 2026, Lenskart reported a 32% YoY rise in revenue to Rs 9,002 crore. EBITDA climbed 55.3% YoY to Rs 1,789 crore, while adjusted PAT surged 148% YoY to Rs 530 crore.Sensex, Nifty today: Catch all the LIVE stock market action here (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Taylor Swift and Travis Kelce are reportedly set to tie the knot at New York Cityโs Madison Square Garden on July 3, 2026. The choice is driven by unparalleled privacy. With plans for underground access and street closures to keep paparazzi at bay. The iconic venue also holds personal significance for Swift. She has performed multiple times there. As for Kelceโs connection, he was recently spotted for a Knicks vs. Cavaliers game at MSG with Swift.
US President Donald Trump has spent years attacking his predecessor Barack Obama for what he called a giveaway to Iran. The image of "pallets of cash" became one of his favorite political talking points, a symbol of what he portrayed as weakness in dealing with Tehran.Yet the irony of the current moment is becoming harder to ignore. As negotiations to end the latest US-Iran confrontation stall, Iran is demanding access to billions of dollars in frozen assets, and the success of any deal may depend on whether Trump agrees to some form of financial relief. The president who built his Iran policy around rejecting Obama's approach may now find himself confronting the same reality that faced previous administrations -- diplomacy with Iran often comes with a price tag.Pay $12 billion now, and $12 billion laterAn indication of how central money has become to the negotiations came from Mohsen Rezaei, military adviser to Supreme Leader Ayatollah Mojtaba Khamenei, in an exclusive interview with CNN. According to Rezaei, the negotiations have reached a deadlock and the responsibility for breaking it lies squarely with Trump. He said Iran wants the release of $24 billion in frozen Iranian assets, with $12 billion to be made available immediately after an interim agreement is signed and another $12 billion at a later stage.Also Read | Iran says frozen funds key to progress in US talksRezaei termed the demand not a concession from Washington but as a test of American intentions. "If he wants to reach an agreement with Iran, this $24 billion is a test of trust that Iran wants to have with Trump," he told CNN. "This is our own money, not America's money."The significance of the demand extends beyond the amount involved. By publicly linking the prospects of peace to the release of frozen assets, Iran has effectively made financial compensation the central political hurdle in the negotiations.Trump's Obama problemFor Trump, the issue is not as much financial as deeply political. CNN reported that Trump has repeatedly instructed his team that any agreement with Iran must be viewed as stronger than the 2015 nuclear accord negotiated by Obama. Equally important, he wants to avoid anything that resembles the controversial payments that became a focal point of Republican criticism a decade ago.Throughout his political career, Trump has portrayed the Obama administration's handling of Iran as evidence of weak leadership. Recently, he revived his criticism of the Joint Comprehensive Plan of Action, or JCPOA, describing it as a horrible deal and insisting that any agreement he reaches will be far better. That political history now threatens to constrain his negotiating options. A deal that includes billions of dollars flowing to Iran could invite immediate comparisons with the very agreement he spent years denouncing.Also Read | Iran retains about 22% of missile stockpile, says TrumpWhat Obama actually didThe comparison is unavoidable because financial relief was also a major feature of the Obama-era approach. The JCPOA, finalized in 2015 after negotiations between Iran and the P5+1 powers, imposed strict limits on Iran's nuclear activities in exchange for sanctions relief. The agreement capped uranium enrichment, reduced centrifuge capacity and established what experts described as one of the most intrusive inspection regimes ever negotiated.The deal also coincided with the release of $1.7 billion to Iran, a figure that Trump and other critics frequently cited as evidence of appeasement. Critics argued that sanctions relief and financial compensation rewarded Iranian behaviour across the region.Supporters of the agreement took a different view. They argued that much of the money involved consisted of Iranian assets that had already belonged to Iran and that the deal successfully halted Tehran's progress toward a nuclear weapon while providing unprecedented transparency into its nuclear program.Former US Energy Secretary Ernest Moniz, who helped negotiate the agreement, told CNBC that the JCPOA's most important achievement was its extraordinary verification system. Arms control experts similarly maintain that the deal effectively constrained Iran's nuclear ambitions before it unraveled.Why the current situation is more difficultThe irony for Trump is that negotiations now are taking place under conditions far less favorable than those that existed in 2015. After the US withdrew from the JCPOA in 2018, Iran gradually breached many of the agreement's restrictions. It expanded uranium enrichment, accumulated a much larger stockpile of nuclear material and scaled back some transparency measures.Many think that any new agreement must address a more advanced Iranian nuclear programme and a more complicated political environment. There is also the added challenge of rebuilding trust after years of mutual escalation. That reality means economic incentives have become even more important. Tehran is demanding tangible benefits upfront rather than promises of future relief. From Iran's perspective, accepting new restrictions without immediate financial gains would be politically difficult.Trump's search for a political workaroundTrump's advisers are acutely aware of the political risks. According to CNN, administration officials are exploring mechanisms that would allow Iran to receive financial relief without creating the appearance of a direct US payment. One possibility involves third countries such as Qatar releasing funds. Another would permit access to frozen assets while restricting their use to humanitarian purchases such as food, medicine and agricultural goods. There have also been discussions about creating reconstruction funds financed largely by Gulf states rather than the United States.These proposals reflect an important reality. The debate is no longer about whether Iran should receive economic relief at some stage. It is increasingly about how that relief can be structured so that Trump can claim he has not repeated Obama's mistakes. In that sense, the dispute is becoming as much about political messaging as about financial policy.Leverage versus peaceThe White House remains reluctant to surrender what it views as one of its strongest bargaining tools. Trump has publicly insisted that the United States will retain control over frozen Iranian funds until Iran meets Washington's demands. Secretary of State Marco Rubio has similarly emphasised that sanctions relief should follow compliance rather than precede it.The administration's concern is straightforward. Once funds are released, Washington loses a major source of leverage. That leverage could prove critical during the highly technical second phase of negotiations focused on Iran's nuclear program. Iran, however, sees the issue differently. For Tehran, immediate access to frozen assets is evidence that the United States is negotiating in good faith. Without such a gesture, Iranian leaders appear unwilling to commit themselves to a broader settlement. That difference in perspective has created the current impasse.The choice facing TrumpThe strategic dilemma confronting Trump is becoming increasingly clear. He can maintain a hard line and refuse any significant financial concession, preserving political consistency but risking the collapse of negotiations. Or he can accept some form of economic relief for Iran, potentially unlocking a broader peace agreement but exposing himself to accusations that he has embraced a version of the same approach he once condemned.Rezaei's comments to CNN show how central that decision has become. By presenting the release of $24 billion as a test of trust, Iran has effectively challenged Trump to choose between ideological purity and diplomatic pragmatism. For a president who built his Iran policy in opposition to Obama's legacy, that may be the most uncomfortable choice of all. If peace ultimately requires releasing billions of dollars in frozen Iranian assets, Trump would be seen as eating his words when he had asked Iran for complete surrender.
For nearly a decade, India's carmakers chased the sport utility vehicle (SUV) dream.Higher margins, aspirational buyers and a growing appetite for larger vehicles pushed manufacturers to flood showrooms with sport utility vehicles and compact SUVs, steadily relegating hatchbacks โ once the backbone of India's passenger vehicle market โ to the sidelines.Also Read: Tata Motors PV launches next-gen Tiago from Rs 4.69 lakh, Tiago.ev from Rs 6.99 lakh with lifetime battery warrantyThe strategy worked. Utility vehicles now account for well over half of all passenger vehicle sales in India and contributed nearly two-thirds of the 4.3 million vehicles sold in FY25.But as economic pressures mount, vehicle prices climb and first-time buyers struggle to enter the market, India's biggest automakers are beginning to acknowledge a reality they may have overlooked: the country's next wave of growth could come from the very segment they left behind.From Maruti Suzuki's renewed commitment to entry-level cars to Tata Motors' ambitious reinvention of the Tiago, hatchbacks are once again finding themselves at the centre of boardroom conversations.Also Read: Small cars strike back: Maruti Suzuki bets on mass mobility while costs squeeze fourth quarter profitsAnd this time, carmakers are betting that small cars no longer have to feel small.The forgotten customerThe shift is being driven by a growing recognition that India's passenger vehicle market cannot rely indefinitely on premiumisation.While SUVs have transformed the industry's revenue mix, they have also pushed average vehicle prices steadily higher, making car ownership increasingly difficult for millions of households.Maruti Suzuki Chairman R. C. Bhargava recently signalled the company's intent to rebalance its portfolio."We are planning to develop both small cars and SUVs. The small car market is growing. India is a country where small cars have a long-term future," Bhargava said.The comments mark a notable shift in tone from an industry that spent years focusing on larger and more expensive vehicles.For Maruti, which built its dominance on models such as the Alto, WagonR and Swift, the renewed emphasis reflects confidence that affordability will remain central to India's mobility story."A large part of the populationโฆ need small cars" for basic mobility, Bhargava said.Industry analysts say the opportunity remains substantial."In the small cars segment, there is a much bigger conversion pool that carmakers can navigate. Hence, there is this renewed push towards small cars and that segment," said Hemal Thakkar, Senior Director, Crisil Intelligence."India is a price sensitive market and hence, small cars will stay and customers are looking for upgrades within vehicles. If carmakers can provide small cars with new features and upgrades, then there will be more customers for the small car space," he added.Making hatchbacks aspirational againIf Maruti is signalling a strategic return to small cars, Tata Motors is attempting something more ambitious โ making hatchbacks desirable again.The company this week unveiled the next-generation Tiago and Tiago.ev, positioning them as technology-rich products aimed at reviving a segment many in the industry had effectively written off."Hatchbacks remain the gateway to personal mobility for millions of Indian families and yet, for far too long, this segment received scarce attention from the industry, when it genuinely deserved far more," said Shailesh Chandra, Managing Director and CEO, Tata Motors Passenger Vehicles.Calling the new Tiago "not an evolution but a full reinvention", Chandra said the vehicle brings substantially upgraded design, connected technologies and safety features that were once largely reserved for more expensive categories.The next-generation Tiago gets a 10.25-inch touchscreen infotainment system, wireless smartphone connectivity, a dual-screen dashboard, wireless charging and a segment-first 360-degree surround-view camera."The feeling of wow shouldn't be reserved for expensive cars," Chandra said."Today hatchback customers want far more than mobility, they want design, tech, safety and pride of ownership. A car they want to flaunt."The company has also positioned the Tiago.ev as an affordable electric mobility option, offering a lifetime battery warranty and fast-charging capability that can add up to 100 kilometres of range in 18 minutes."Tiago will make EV more accessible," Chandra said.Why affordability is back in focusThe renewed interest in hatchbacks comes as affordability re-emerges as a key concern across the industry.Vehicle prices have risen sharply in recent years because of stricter regulations, higher commodity costs and the addition of new safety and technology features.That has increasingly pushed first-time buyers out of the market.According to Srikumar Krishnamurthy, Senior Vice President and Co-Group Head, Corporate Ratings, ICRA Limited, hatchbacks continue to play a critical role in expanding the customer base."Hatchbacks remain a preferred segment, particularly for first-time buyers and households seeking a second vehicle, as affordability and comfort are key purchase considerations," he said."From an original equipment perspective, a presence across segments also helps improve reach, especially in Tier 2/3 cities."Krishnamurthy added that rising vehicle costs are forcing manufacturers to revisit their entry-level offerings."With input costs rising and vehicle prices expected to increase further, affordability is becoming even more important, especially in the mass-market segment. In response, OEs are looking to reposition entry-level hatchbacks and compact SUVs through new launches and refreshed variants that offer a stronger value proposition to consumers."Beyond SUVsThe industry's renewed focus on hatchbacks does not mean SUVs are going away.Far from it.Utility vehicles remain India's dominant passenger vehicle category and continue to drive growth and profitability for manufacturers.What is changing, however, is the recognition that growth cannot come solely from moving customers up the value chain.To sustain volumes, carmakers need to bring new buyers into the market.That is especially important as India adds millions of young consumers entering the workforce, many of whom are seeking their first personal vehicle but remain highly sensitive to price.Affordable electric hatchbacks could further strengthen the segment's appeal in coming years."Affordable EV hatchbacks could become an attractive proposition as charging infrastructure improves, range-anxiety concerns ease, and the financing environment becomes more supportive," Krishnamurthy said.For much of the past decade, India's hatchbacks were treated as yesterday's story while SUVs became the industry's obsession.Now, as automakers search for their next growth engine, the segment that once put millions of Indians behind the wheel is beginning to look relevant again.The future of India's auto market may still be taller, bolder and SUV-shaped. But increasingly, carmakers are recognising that the road to scale may once again begin with a hatchback.
Veteran actor Salim Kumar has been hospitalized due to health complications and is currently on ventilator support. Known for his National Award-winning performance in 'Adaminte Makan Abu' and his contributions to Malayalam cinema, Kumar has also explored filmmaking and writing. He recently shared his views on the decline of quality comedy films in the industry.
Flashfloods from a cloudburst in Reasi's Bathoi village on Thursday caused significant damage to homes and blocked roads with mudslides. Fortunately, no injuries or fatalities were reported. This marks the fifth such event in the Jammu region recently. Authorities are providing immediate assistance to affected families, while adverse weather also led to the suspension of pilgrimages in Kishtwar.
Morgan Riddle recently criticized a New York Times opinion article, calling its message about women โobjectively horrific.โ The tennis influencer shared her views through Instagram posts and revisited her earlier comments about gender issues. While the debate gained attention online, Taylor Fritz is now focused on returning to action during the upcoming grass-court season in Stuttgart.
The TMC, led by Mamata Banerjee, is faced with fresh crisis of rebellion from the MLAs after a crushing defeat in the recently concluded assembly elections.
Google has recently laid off employees within its Cloud division, impacting its Threat Intelligence Group and Mandiant. This move, mirroring broader tech industry trends, sees the company reallocating resources towards artificial intelligence development. Google AI CEO Demis Hassabis, however, believes companies should leverage AI-driven productivity gains to expand, not reduce, their workforce.
The concerns emerged following a meeting of the rebel legislature bloc led by Ritabrata Banerjee, who was recently recognised as the Leader of Opposition.
Social media users recently shared posts claiming Erika Kirk would host UFCโs White House Fight Night on June 14, 2026. The rumor originated from WKM News, a page that clearly labels itself as satire and parody. No announcement from UFC, Dana White, the White House, or event organizers supports the claim. Based on available evidence, the story is not true.
Krishna Byre Gowda, 53, is one of the prominent Vokkaliga leaders in Karnataka. He most recently served as Revenue Minister in the Siddaramaiah-led government.
He alleged that the situation arose because the current TVK-led government failed to present proper arguments before the Supreme Court recently
Traders in Reliance Industries Ltd.โs treasury department are strategizing over where to park the companyโs cash in case the Reserve Bank of India starts raising interest rates in the coming months.One proposal involves moving Relianceโs cash holdings from liquid mutual funds into short-dated money market instruments, people aware of the conglomerateโs thinking said. The switch may pay off because the yield spread between money-market papers and the benchmark rate has widened beyond its five-year average and is likely to narrow in the coming months, resulting in capital gains, the people said, asking not to be named as the information is private. Markets are currently expecting about 50 basis points of rate hikes this year, they said.Traders also mulled reducing allocation to longer-dated bonds, which tend to be more sensitive to interest-rate changes, the people said.The strategy discussion cited market expectations and the conglomerate didnโt take an explicit view on interest rates. Treasury departments typically consider a range of market scenarios when evaluating trading strategies.โWe categorically deny the information you have provided in your email regarding our opinion on interest rates and the behaviour of the rupee,โ a Reliance spokesperson said by email.131502003India's Overnight Swaps Reflect RBI Rate HikesThe view carries weight because Reliance runs one of the largest corporate treasuries in India. The discussion also come ahead of the Reserve Bank of Indiaโs rate decision on Friday, where the central bank is expected to announce measures to support the rupee.While most economists โ 29 out of 35 โ surveyed by Bloomberg News expect the authority to keep the benchmark rate unchanged, they see the RBI adopting a hawkish stance to prepare markets for potential rate hikes later this year amid inflation pressures triggered by an oil price shock.Indiaโs sovereign bond yields have remained broadly stable this quarter even as the rupee has slid to record lows. The currency has recovered in recent days, helped by RBI intervention and optimism that a US and Iran agreement may lead to the reopening of the Strait of Hormuz, a vital route for the countryโs energy imports.The rupee is down 6% this year and recently approached a record low of 97 per dollar. It has been hovering around 95-96 levels in recent days.Relianceโs traders expect the rupee to strengthen if a Middle East peace deal is reached and if the RBI takes measures to attract capital inflows, one of the people said. They have proposed that the owner of worldโs largest oil-refining complex partly hedge its long-term forward contract positions as well as coupon payments dues in fiscal year starting March 2028, the person said.
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 affectedโand acceleratedโby 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 equitiesโthe 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 companyโs 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 currencyโprocurement, treasury, sales, capex planningโ 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 Chinaโs 90% model. It is restricting Indiaโs industrial progress. Former Director of Hindalco and Muyuan (China).
Mumbai: Major brokers are preparing to roll out algorithmic tools for retail traders over the next few months, amid greater regulatory clarity on retail participation in such trading practices.The move is set to not only help brokers expand revenue streams by charging fees to access the trading algorithms (algos), but also help fintech firms scale up by distributing their algo strategies across multiple platforms. Retail clients may be able to access such strategies for as little as โน5,000 per strategy.Algorithmic or algo strategies use computer programs or pre-set formulas to execute trades when certain conditions like price, volume or technical patterns are met.Sebi's revised framework for safer participation of retail investors in algorithmic trading has been fully implemented since April 2026. It stipulates that brokers must obtain exchange approval for each algo, tag all orders for audit trails, monitor application programming interface (APIs), and handle investor grievances. In addition, exchanges must supervise algo trading through testing and surveillance. Given the regulatory clarity, many brokers have now rushed to provide services.Large traditional brokers such as HDFC Securities and Motilal Oswal Financial Services already provide algos to clients. Other brokers are in the process of launching such services. Raise Securities, which owns Dhan trading platform, recently acquired the algo-provider startup Stratzy. Angel One, Upstox, SBI Securities, Kotak Securities, IIFL Capital Services and 5paisa are also preparing to offer these services to clients. Groww is also in conversation with algo platforms to onboard some strategies. Email sent to Groww did not elicit a response until press time."While algo trading has been around for some time using APIs provided by brokers, we expect higher adoption by retail customers in the long term," said Gaurav Seth, managing director and chief executive officer at 5paisa Capital.The algo strategies are expected to attract retail derivatives traders. Currently, 12 algo providers or vendors are registered with the NSE.According to Mohit Bhandari, cofounder and chief executive of Stratzy, an algo strategy provider, most retail traders either do naked derivatives trading, or have to create trading strategies using multiple futures and options to hedge their risk, which is difficult to track. "Algo trading provides convenience through automation. It also becomes much easier to deploy sophisticated strategies," Bhandari said.Brokers eye algos offerings"The algorithmic trading landscape is becoming increasingly competitive. We anticipate a significant shift in trading volumes toward algorithmic strategies over the next two years," said Puneet Maheshwari, director at Upstox.
KadhaiShorts, a micro drama platform launched recently, aims to bring vertical story telling packaged into snackable two-minute episodic content to the Tamil audience across the world