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Top court draws red lines for AI in courts in draft regulations
Supreme Court proposes regulations on AI in courts, banning AI for decision-making, requiring disclosure of AI assistance by lawyers.
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Supreme Court proposes regulations on AI in courts, banning AI for decision-making, requiring disclosure of AI assistance by lawyers.
India's major cities are experiencing a surge in skyscraper construction, with developers building higher than ever before. The National Building Code mandates stringent safety provisions for these high-rise structures, including fire safety systems, earthquake safeguards, and robust electrical protection. These regulations are crucial as urban skylines transform.
The Reserve Bank of India (RBI) has compounded certain violations of the Foreign Exchange Management Act (FEMA) by Myntra Designs Private Limited, paving the way for the closure of an Enforcement Directorate (ED) investigation into the matter.In a statement issued on Thursday, the ED said the RBI passed a compounding order on April 20, 2026 under Section 15 of FEMA after receiving a "No Objection" from the agency. The order resulted in the termination of the investigation against the company for the alleged contraventions.The case stemmed from an ED probe initiated in July 2025 on the basis of what the agency described as credible information regarding possible FEMA violations by Myntra, linked companies and directors for FDI "contravention" of over Rs 1,654 crore.According to the ED, the violations related to delays in submitting Annual Performance Reports (APRs) for overseas investments and undertaking overseas direct investment commitments before complying with reporting requirements.The RBI compounded two contraventions. The first involved a delay in submitting APRs under the Foreign Exchange Management (Transfer or Issue of Any Foreign Security) Regulations, 2004, covering transactions worth Rs 42.85 crore. The second related to undertaking financial commitments through overseas direct investment despite pending APR submissions, involving Rs 3.03 crore.The company subsequently approached the RBI seeking compounding of the violations under Section 15 of FEMA."On reference from RBI, the ED issued no objection for such compounding in line with the true spirit of the Act," the agency said.Following the ED's no-objection, the RBI compounded the violations through its order dated April 20, 2026, on payment of a one-time amount of Rs 2.88 lakh.
A viral social media post ignited a debate on housing society rules, highlighting suspicions towards bachelors and young couples. While societies need regulations for smooth functioning, many residents feel unfairly scrutinized and stereotyped, leading to a clash between community order and personal autonomy.
Europe is forging ahead with ambitious plans to break free from reliance on US and Chinese technology, particularly in critical sectors like AI and microchips. New regulations aim to bolster "tech sovereignty" by ensuring sensitive data remains within the EU and boosting domestic semiconductor production, safeguarding against foreign digital threats and supply chain disruptions.
A Delhi bed and breakfast, operating illegally as a 25-room hotel despite a six-room license, flouted numerous safety norms. Flourish Stay lacked fire safety certificates, had a single exit, and its electronic gates and locked windows trapped guests during a devastating fire. The probe revealed a shocking disregard for basic safety regulations.
The fundamental danger of Delhi's basement economy stems from a blatant defiance of structural design and zoning regulations
The court said the objective of the Assisted Reproductive Technology (Regulation) Act is to ensure ethical and safe practices, not to create barriers
The shares of Vedanta and Hindustan Zinc declined 1% each on Wednesday after the former confirmed in an exchange filing 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.In another exchange filing released on Tuesday, Vedanta said that the proceedings are underway. โWe wish to reiterate that the Company is and will continue to comply with SEBI Listing Regulations and keep the stock exchange(s) duly informed of all material information / events, including price sensitive information(s), in accordance with the applicable provisions,โ it added.Also Read | Vedanta says ED officials visited some of its offices, Hindustan Zinc unitsThe Economic Times reported on Tuesday, citing officials, that ED conducted searches at premises linked to the Vedanta Group in Delhi and Mumbai as part of a Foreign Exchange Management Act (FEMA) investigation.In a quote to ET Bureau, Vedanta spokesperson said, "We are extending full cooperation to the authorities and are providing all information sought. The company remains committed to compliance with all applicable laws and regulations. As the matter is currently under regulatory process, we are unable to comment further at this stage."Also Read | ED searches against Vedanta Group in FEMA caseICRA's ratings upgradeLast week, ratings agency ICRA removed the company from watch with developing implications after greater clarity on the allocation of assets and liabilities under the ongoing demerger scheme.ICRA upgraded Vedantaโs long-term rating to AA+ (Stable), assigned a stable outlook and reaffirmed the short-term rating. "The rating action factors in ICRAโs expectation of a further strengthening in the credit profile of the Vedanta Group in FY2027, building on the considerable improvement witnessed in FY2026. This has been supported by a sharp increase in base metal prices, which has contributed to a strong financial risk profile for the Group, which reported an OPBDITA of $6.7 billion in FY26,โ the ratings agency said.Also Read | Vedanta shares jump 2% to hit fresh 52-week high. Whatโs behind the surge?Vedanta share priceVedanta shares have tumbled 6% in one week but gained around 23% in one month. The stock recently adjusted to its mega demerger. Vedanta in April had announced that every eligible shareholder would receive one share each of Vedanta Aluminium Metal (VAML), Talwandi Sabo Power (to be renamed Vedanta Power), Malco Energy (to be renamed Vedanta Oil and Gas) and Vedanta Iron and Steel for every share held in the parent company, marking one of the biggest corporate restructurings in Indiaโs metals and mining sector. Investors are now awaiting the listing of the four new companies that spun out of the mining conglomerate.Also Read | Vedanta demerger: At what price will each of the four new companies list? Check cost of acquisitionHindustan Zinc share priceHindustan Zinc shares have fallen around 4% in one week but gained 5% in one month and more than 2% so far in 2026. The stock is up over 33% in one year. In the longer term, the shares of the company delivered 104% returns over three years and 93% returns over five years.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Vice-Chancellor insists on enforcing the regulations even as concerns are raised over the move affecting admissions and creating a crisis in higher education
Foreign travellers entering, leaving, or transiting through Vietnam will be required to submit a health declaration before travel from July 1, 2026, under new government regulations aimed at monitoring infectious disease risks. According to a report by Fragomen, the expanded requirement will apply to all travellers entering, departing from, or transiting through Vietnam. Individuals will need to complete a health declaration within seven days before their travel date. The Vietnamese Ministry of Health will decide when and for which infectious diseases the requirement will be enforced. The decision will be based on global disease trends and the risk of diseases being imported into the country. Authorities have not yet announced how travellers will submit the declaration. Details about the platform and application process are expected in future guidance. Employers and travellers should prepare for possible delays when the new system is introduced, as authorities and passengers adjust to the requirement, as per Fragomen report.129876802New travel requirement follows Ho Chi Minh City airport trial Foreign nationals arriving at Tan Son Nhat International Airport in Ho Chi Minh City have already been subject to a similar requirement since April 21, 2026. Under the pilot programme, travellers must complete an online declaration form within three days before arrival. Immigration processing delays were expected through the end of April as authorities and passengers adjusted to the new system.Vietnam introduced the digital arrival card system to streamline arrival procedures and reduce waiting times at immigration counters as part of broader efforts to modernise border management and digitise entry processes.
Bengaluru: Electric vehicle maker Ola Electric Mobility on Monday approved the opening of its qualified institutional placement (QIP) and set a floor price of โน37.74 per equity share for the issue, according to a stock exchange filing.The company's fund raising committee approved the launch of the issue on June 1 and cleared the preliminary placement document for institutional investors. The company may also offer a discount of up to 5% on the floor price in line with Sebi regulations, the filings read.QIP is a way for listed companies to raise money from large institutional investors such as mutual funds, insurance firms, sovereign funds and foreign portfolio investors, without going through a public issue process.The fundraising comes at a time when Ola Electric is navigating slowing sales, market share pressures and continued losses in the electric two-wheeler market. The company on May 14 also announced โน2,000 crore investment into its wholly-owned subsidiaries focused on electric vehicle and battery manufacturing, as it looks to double down on localisation and vertical integration.Ola reported a consolidated net loss of Rs 500 crore for the fourth quarter ended March 2026, narrowing 42.5% from Rs 870 crore in the year-ago period, aided by lower expenses. In Q3, the company had reported a loss of Rs 487 crore. For the full 2026 financial year, the company posted a consolidated net loss of Rs 1,833 crore compared with Rs 2,276 crore in FY25. Revenue from operations fell sharply to Rs 2,253 crore from Rs 4,514 crore a year ago. Brokerages have also flagged concerns around market share erosion and cash burn. Citi earlier downgraded the stock to and cut its target price, citing persistent challenges to volume growth and rising balance sheet pressures. The company recently reported a recovery in registrations, with May registrations rising to 14,752 units. Ola said the issue price will be determined in consultation with the book running lead managers. โFor Q1 FY27, we expect 40,000- 45,000 orders and consolidated revenue of Rs 500-550 crore, nearly double Q4 levels. As volumes recover, we expect the auto business to move towards adjusted operating EBITDA and free cash flow positivity through FY27,โ Aggarwal said in its shareholderโs letter. The companyโs focus remains on its EV products, particularly electric motorcycles and cell manufacturing, he added. Olaโs shares on Monday closed at Rs 39.53 on BSE, 4.91% lower compared to previous trading session. The QIP announcement was made post market hours.
A report will be prepared outlining the steps to be taken to ensure that the existing laws and regulations are strictly followed in the town
Shares of renewable energy player Suzlon Energy fall 2.2% to Rs 55.87 on the BSE on Monday after capital markets regulator Sebi levied penalties totalling nearly Rs 29 crore on Suzlon Energy and several former executives. Sebi concluded that the company misrepresented its financial position through transactions involving subsidiaries, inflated profits and inadequate disclosures.In a 96-page order issued on May 29, Sebi said Suzlon and certain former executives violated provisions of the Sebi Act, PFUTP Regulations, listing regulations and disclosure requirements. The order replaces an earlier adjudication order issued in June 2025 and confirms multiple violations by the company and its executives.Among the penalised individuals, former executive Vinod R. Tanti was fined Rs 5.75 crore, while Girish R. Tanti was directed to pay Rs 5.45 crore. Former Group CFO Kirti J. Vagadia was fined Rs 1.5 crore and former CFO Amit Agarwal was fined Rs 30 lakh.The matter stemmed from an anonymous complaint received by Sebi in December 2019 alleging irregularities in transactions involving Suzlon's subsidiaries and associate entities. A subsequent forensic audit and investigation covering FY15 to FY20 and the first nine months of FY21 examined several issues, including dealings with subsidiaries, impairment reversals, contingent liabilities and financial statement disclosures.Sensex, Nifty today: Catch all the LIVE stock market action hereOne key observation related to the transfer of Suzlon's operations and maintenance services business to its subsidiary, Suzlon Global Services Ltd, in March 2014. Sebi noted that the business, valued at around Rs 77 crore, was transferred for Rs 2,000 crore, resulting in Suzlon recording an accounting gain of Rs 1,922.92 crore.According to the regulator, the subsidiary lacked the financial capacity to fund the transaction. Sebi found that a significant portion of the consideration was subsequently reflected as paid through circular movement of funds between the two entities. The regulator said the arrangement created artificial profits and inflated the company's net worth. It observed that Suzlon's FY14 net worth would have been Rs 741 crore without the transaction, compared with the reported figure of Rs 2,664 crore.Sebi further noted that Suzlon later booked an additional gain of Rs 829.78 crore by transferring its stake in the subsidiary to another wholly owned entity, effectively recognising profit a second time on the same underlying assets. According to the regulator, these transactions helped the company portray a stronger financial position and supported subsequent fund-raising and restructuring efforts.The order also addressed a standby letter of credit connected to loans taken by a foreign subsidiary. Sebi said a contingent liability of about $569 million, or roughly Rs 4,050 crore, which had been disclosed in FY17, was not reflected in FY18 contingent liability disclosures after being reclassified under an accounting standard related to insurance contracts. The regulator held that the treatment was inappropriate and materially reduced the visibility of the company's financial exposure.In addition, Sebi reviewed investments and loans involving subsidiaries SE Forge Ltd and Suzlon Gujarat Wind Park. It found that several transactions involved circular routing of funds, conversion of loans into equity and later impairment of investments. According to the regulator, these transactions resulted in financial statements that did not accurately represent the underlying economic substance.Sebi concluded that the company's financial statements and disclosures failed to present a true and fair view of its financial position. The regulator said financial statements and disclosures form the basis on which investors and other market participants assess a listed company's financial health and prospects.While Sebi noted that disproportionate gains and investor losses could not be quantified with precision, it said the violations were serious because they related to financial information disseminated to investors and relied upon by the market.Sebi imposed the penalties under provisions relating to fraudulent and unfair trade practices, disclosure lapses and violations of listing obligations. The notices must pay the penalties within 45 days of receiving the order.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
The Comprehensive Economic Partnership Agreement (CEPA) between India and Oman is set to come into force on June 1, marking a significant milestone in bilateral economic relations. Both nations will formally announce the decision on Monday.This marks the fifth free trade agreement (FTA) implemented under the Modi government since 2014. It follows trade pacts rolled out with Mauritius (April 2021), the UAE (May 2022), Australia (December 2022), and the European Free Trade Association (EFTAโcomprising Switzerland, Iceland, Liechtenstein, and Norway in October 2025). India has also signed deals with the UK (July 2025) and New Zealand (April 2026), alongside concluding trade talks with the 27-nation European Union (EU) on January 27 this year.CEPA vs FTAModern trade pacts typically span around 20 chapters. These encompass comprehensive regulations across trade in goods, trade in services, investment, intellectual property rights, customs procedures, and dispute settlement mechanisms.Similar bilateral frameworks are also designated as Comprehensive Economic Cooperation Agreements (CECA), Comprehensive Economic Trade Agreements (CETA), or Economic Cooperation and Trade Agreements (ECTA).Also read: India-Oman CEPA to strengthen energy security, trade resilience and export growthIndia-Oman tradeBilateral trade between the two nations reached USD 11.18 billion during 2025-26, up from USD 10.61 billion in 2024-25. Indiaโs exports stood at USD 4.02 billion, while imports from Oman were valued at USD 7.16 billion.In the services domain, India's exports to Oman expanded from USD 397 million in 2020 to USD 665 million in 2024, driven primarily by telecommunications, computer and information, transport, and travel sectors. Conversely, services imports from Oman grew from USD 101 million to USD 197.7 million over the same period, led by transport, travel, telecom, and other business services.What does India gain? The deal unlocks 100% duty-free market access for Indian exports to Oman, covering 98.08% of Omanโs tariff lines, which represents 99.38% of the trade value (based on the 2022-23 average).Immediate Concessions: All zero-duty access comes into effect from "Day One" of the agreement. Currently, only 15.33% of Indiaโs export value (11.34% of tariff lines) enters Oman duty-free under the Most Favoured Nation (MFN) regime.Price Competitiveness: The pact eliminates the current 5% import duty on Indian goods worth USD 3.64 billion.Growth Drivers: Key sectors poised for immediate advantages include textiles, agricultural products, transport equipment, precision instruments, processed food, and gems & jewellery.New Horizons: The agreement unlocks fresh export windows for Indian minerals, chemicals, base metals, machinery, plastic, rubber, automobiles, clocks, instruments, glass, ceramics, marble, and paper.India-Oman CEPA: Key sectoral gainsOman will grant immediate zero-duty access to crucial Indian industrial segments, including:Iron and steelElectrical and industrial machineryMarine products and copper goodsFurthermore, the removal of the 5% tariff is set to directly bolster the competitiveness of Indian vehicles in the Omani market, while securing binding zero-duty access for key finished medicines and vaccines.India protects sensitive sectorsTo insulate local industries and farming communities, India has placed 2,789 tariff lines on its exclusion list.Excluded Categories: Key domestic sectors shielded from tariff concessions include transport equipment, major chemicals, cereals, fruits, vegetables, spices, coffee, tea, and products of animal origin.Manufacturing Safeguards: High-value manufacturing chains including rubber, leather, textiles, footwear, petroleum oils, and mineral-based products remain protected.Agricultural Shielding: Strategic segments such as dairy products, meat, oilseeds, vegetable oils, sugar, and food-processing residues are entirely kept out of the liberalisation purview.Service sector stands to gainWith Omanโs total global services imports standing at USD 12.52 billion in 2024, Indiaโs current share of 5.31% presents significant room for expansion.Oman has made robust commitments regarding the temporary entry and stay of Indian service professionals. Notably, the Intra-Corporate Transferees (ICT) ceiling has been raised from 20% to 50%, allowing Indian firms to deploy a higher volume of managerial and specialist personnel.Additionally, for the first time in any FTA, Oman has locked in specific commitments for professional service providers, benefitting Indian talent in IT, accounting, engineering, medical, education, construction, and consulting fields.Gains for India's agri sectorIndian agricultural exports such as natural honey, potatoes, cashews, boneless meat, and bakery items will secure immediate duty-free entry into Oman.Oman has agreed to dismantle tariffsโwhich currently range from 5% to 100%โon an array of items. These include cheese, curd, milk, cream, frozen fish, butter, meat, yoghurt, pastries, cakes, chocolate, sugar confectionery, mineral water, alongside animal and vegetable fats and oils.In return, Indian consumers will benefit from cheaper imports of Omani dates, with India granting zero-duty access for up to 2,000 tonnes of the commodity annually. New Delhi is also extending tariff concessions to Omanโs traditional products: Gum Arabica (utilised in food, pharmaceuticals, and cosmetics) and Frankincense (utilised in the incense and perfume sectors).Oman to benefit from tariff concessionsIndia is extending tariff concessions across 77.79% of its total tariff lines (equivalent to 12,556 lines), which encapsulates 94.81% of Indiaโs total imports from Oman by value.For items that hold significant export value for Oman but remain sensitive for domestic industries in Indiaโsuch as dates, marbles, and specific petrochemical productsโliberalisation will be managed via a controlled Tariff-Rate Quota (TRQ) mechanism.India strengthening presence in Middle EastThe Oman CEPA serves as another pillar in India's deepening trade ties with the Gulf Cooperation Council (GCC), following its May 2022 pact with the UAE. New Delhi is set to commence trade talks with Qatar soon, and has already inked terms of reference (TOR) to initiate broader trade pact negotiations with the entire GCC bloc (comprising Saudi Arabia, UAE, Qatar, Kuwait, Oman, and Bahrain).Despite its size, Oman commands vast geopolitical importance as it borders the Strait of Hormuz, a critical maritime chokepoint heavily relied upon by Asian enterprises for oil trade. The nation serves as a strategic gateway for Indian goods and services into the broader Middle Eastern and African markets.Currently, nearly 7 lakh Indian nationals reside in Oman, sending home approximately USD 2 billion in annual remittances. Over 6,000 Indian establishments operate within Oman, and India has clocked USD 615.54 million in foreign direct investment (FDI) from Oman between April 2000 and September 2025. Notably, this CEPA is the first bilateral trade pact Oman has signed with any nation since its agreement with the United States in 2006, cementing its position as Indiaโs third-largest export market within the GCC.
Canada has introduced stricter documentation requirements for digital nomads entering the country under a work-permit exemption, requiring applicants to provide evidence that their income is earned entirely outside Canada and that they work remotely for foreign employers or overseas clients.Under Canadian immigration rules, digital nomads, remote workers employed by foreign companies or self-employed individuals serving overseas clientsโcan stay in Canada as visitors and work remotely for up to six months without obtaining a work permit, according to a report by CIC News. This exemption applies because they are not considered to be entering the Canadian labour market. Previously, immigration officers were instructed that digital nomads did not need to provide additional documentation beyond what is generally required from visitors. The updated guidance now directs officers to verify that applicants earn their income outside Canada and do not provide services to Canadian employers or clients. More clarity for immigration officers The revised instructions also provide additional guidance for officers assessing digital nomad applications. According to the updated rules, as cited by CIC News, digital nomads who wish to remain in Canada beyond their initially authorized stay should apply for a visitor record. Applicants must also satisfy immigration officers that they do not intend to enter the Canadian labour market during their stay. The guidance further states that accompanying family members must submit separate applications for their own temporary resident status. General entry requirements remain Canada's immigration department also clarified that digital nomads must continue to meet all standard requirements applicable to temporary residents. This includes demonstrating sufficient financial resources to support themselves during their stay, convincing officers that they will leave Canada when their authorized stay ends, and meeting admissibility requirements related to health and criminality. According to the CIC News report, the updated instructions also state that a digital nomad already in Canada may work for a Canadian employer without obtaining a work permit only if they qualify under a separate work-permit exemption set out in Canada's immigration regulations. The changes provide immigration officers with more detailed criteria for assessing digital nomad entries while reinforcing the requirement that remote workers benefiting from the exemption remain outside Canada's domestic labour market.
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.)
India's primary market is set for an active week in the mainboard segment, with two public issues scheduled to open for subscription even as investor sentiment remains selective amid volatile equity markets and heightened global uncertainty. The spotlight will be on the IPOs of CMR Green Technologies and Hexagon Nutrition, which together aim to raise nearly Rs 770 crore.The offerings come at a time when the IPO market has seen a lull for a few weeks in a tepid 2026. While several companies have secured regulatory approvals in recent weeks, many have put off their IPO plans due to market volatility.The first issue to hit the market next week will be CMR Green Technologies. The company's IPO will open on June 3 and close on June 5. The issue is priced in the range of Rs 182-192 per share and aims to raise Rs 630.9 crore. Equirus Capital is managing the offering.CMR Green Technologies operates in the metal recycling and circular economy segment, manufacturing recycled aluminium and zinc products for automotive and industrial applications. The company counts several leading automotive manufacturers among its customers and is positioned to benefit from increasing adoption of recycled metals and sustainability-focused manufacturing practices.The company is expected to attract investor interest given the growing focus on resource efficiency, electric vehicles and environmental regulations that are encouraging the use of recycled materials.The second mainboard issue scheduled for next week is Hexagon Nutrition.The IPO will open on June 5 and close on June 9. The company has fixed a price band of Rs 42-45 per share and plans to raise Rs 138.9 crore through an offer for sale of 3.09 crore shares. Since the issue is entirely an OFS, the company will not receive any proceeds from the public offering.Hexagon Nutrition is a research-driven nutrition company engaged in manufacturing micronutrient premixes, wellness and clinical nutrition products, therapeutic formulations and ready-to-use nutritional foods.Founded in 1993, the company operates manufacturing facilities in Maharashtra, Tamil Nadu and Uzbekistan and exports products to more than 75 countries. Its products are sold through both business-to-consumer and business-to-business channels and include brands such as Pentasure, Obesigo, Pediagold and Nutrone.The company has reported steady financial growth in recent years. Profit after tax rose to Rs 24.4 crore in FY25 from Rs 12.2 crore in FY24 and Rs 5.8 crore in FY23, while total income increased to Rs 331 crore.At the upper end of the price band, Hexagon Nutrition is valued at around 15 times post-issue earnings.Market participants will closely watch subscription trends in both issues as they could provide a signal on investor appetite for new listings after months of fluctuating market sentiment.The broader market environment remains mixed. Indian equities have faced pressure this year from elevated crude oil prices, geopolitical tensions in West Asia and foreign institutional investor outflows. However, strong domestic liquidity and continued retail participation have helped support primary market activity.SME segmentApart from the mainboard issues, the SME segment is also expected to remain active next week.Genxai Analytics plans to raise about Rs 55 crore through its NSE SME IPO, which opens on June 5 and closes on June 9. The issue is priced at Rs 110-116 per share. Vahh Chemicals will launch a fixed-price SME issue worth Rs 13.5 crore between June 4 and June 8 on the BSE SME platform.Merritronix will also tap the SME market with a Rs 70 crore issue opening on June 1 and closing on June 3.While SME offerings continue to attract investor interest, listing performance has remained mixed in recent months, making subscription quality and valuation discipline increasingly important factors for investors.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
At least 22 Afghan refugees were killed on Saturday, mostly women and children, after a truck carrying them fell into a ditch. Traffic accidents are common across Afghanistan, where roads are poorly maintained, and drivers routinely ignore traffic regulations.
New Delhi: The Centre has withdrawn the draft Sugarcane (Control) Order, 2026, saying it needs to be revisited in the light of objections received from state governments and other stakeholders.The Food Ministry had circulated the draft for public comments, with a May 20 deadline.Also Read: Sugarcane FRP hiked to Rs 365/quintal for 2026-27 season"Based on the suggestions/comments received from state governments and other stakeholders, it is considered necessary to revisit the draft Sugarcane (Control) Order, 2026," the ministry said in an office memorandum.The draft sought to replace the 60-year-old Sugarcane (Control) Order, 1966, with a new regulatory framework that proposed, among other things, bringing the ethanol and khandsari sectors under government regulation.The move drew opposition from khandsari units and farmers. The draft had proposed redefining a khandsari unit as one with more than 10 workers and a crushing capacity of over 500 tonnes per day. Under the existing rules, a khandsari unit is defined as one with 20 or more workers, with no capacity limit.Also Read: Gujarat govt's 'revolutionary' decision to provide Rs 1,500 cr financial relief to sugar cooperativesSources said the proposed definition would have brought a large number of small-scale, labour-intensive units under the regulatory ambit, adversely affecting farmers who generally receive better prices from khandsari units than from sugar mills.BJP MP Sanjeev Balyan, who represents Muzaffarnagar in Uttar Pradesh, said on social media the government had decided to withdraw the order "in the interest of farmers"."This demonstrates that under the leadership of Prime Minister Narendra Modi, the government formulates every policy by placing the consent of the farmers and their welfare above all," he said.