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'False Narrative': India's Sharp Retort To Pak Over "Unwarranted" J&K Remark At UN
P Harish reminded Pakistan that being a Security Council member is a "huge responsibility".
🇮🇳 인도 · "SHARP" · 총 88건
필터 보기현재 지수
50.0
0 = 부정 우세
50 = 중립
100 = 긍정 우세
최근 7일 기준 5,634건을 분석한 결과, 뉴스 심리지수는 50.0(균형)입니다. 긍정 0건(0.0%)·중립 5,634건(100.0%)·부정 0건(0.0%)이며, 중립 비중이 뚜렷하게 높습니다. 성향 지수는 종합 0.0(중도 균형)입니다.
P Harish reminded Pakistan that being a Security Council member is a "huge responsibility".
Ram Charan's 'Peddi' experienced a significant box office drop on its second day, collecting Rs 26.90 crore net, a 47.3% decrease from its opening. Despite this, the film has amassed Rs 96.40 crore net domestically and Rs 150.49 crore worldwide. The Telugu market continues to be its strongest performer, with impressive occupancy rates.
Wall Street's nine-week winning streak ended with a thud on Friday, as red-hot technology stocks suffered their largest daily decline this year after a hot May jobs report fueled fears of a hawkish policy pivot from the U.S. Federal Reserve.Selling was concentrated among chip stocks and other technology favorites that have surged higher in recent weeks as the Nasdaq Composite Index and S&P 500 rose repeatedly to fresh highs.All three major U.S. stock indexes closed sharply lower, with plunging chip stocks dragging the tech-laden Nasdaq down by its largest one-day percentage loss since last year.The S&P 500 ended its nine-week run of Friday-to-Friday gains, its longest weekly winning streak since one that ended in December 2023."After the record run we've seen the last nine weeks in equities, specifically tech and semiconductors, the dam just broke today," said Ryan Detrick, chief market strategist at Carson Group in Omaha. "Obviously, the stronger-than-expected jobs report puts the Fed in a tough spot regarding any interest rate cut for the rest of the year. And the market is throwing a fit by hitting the big winners so far this year."Rising interest rates and the Iran war weighed on sentiment heading into the weekend, but many investors said they expected tech stocks to continue rallying."The market reaction today was more driven by positioning rather than fundamentals," said Ohsung Kwon, chief equity strategist at Wells Fargo. "The semiconductor sector was way overbought. That's why we're seeing the selloff. I don't think it's the end of the semi bull market." The U.S. economy added 172,000 jobs in May, according to the Labor Department, more than double analyst expectations, while the unemployment rate held firm at 4.3%. The robust report was double-edged: it provided reassurance of U.S. economic health, but all but killed any hopes of an interest rate cut from the Fed in the near future.Financial markets are pricing in a growing likelihood of a rate hike at the conclusion of the Fed's December meeting, according to CME's FedWatch tool.Fading hopes for a near-term resolution to the Middle East war and reopening the Strait of Hormuz are stirring fears that energy price pressures could morph into wider, systemic inflation. Iran reaffirmed its support for Hezbollah and demanded that Israel withdraw its troops from southern Lebanon, further complicating efforts to secure a near-term peace deal that would include the resumption of traffic through the crucial strait. U.S. President Donald Trump's administration has negotiated three truces, and while fighting has been greatly reduced, the two sides continue to trade airstrikes.According to preliminary data, the S&P 500 lost 199.64 points, or 2.63%, to end at 7,384.67 points, while the Nasdaq Composite lost 1,117.38 points, or 4.16%, to 25,713.58. The Dow Jones Industrial Average fell 684.53 points, or 1.33%, to 50,877.40.Nvidia, the largest company by market value, fell sharply, as did smaller rivals Intel, Micron, AMD and Broadcom. Lululemon Athletica slumped after the athletic apparel maker cut its annual profit forecast and projected second-quarter earnings well below Wall Street estimates. Cooper Companies rose after the contact lens maker beat estimates for second-quarter results.Cryptocurrency firms Coinbase and Strategy were pulled lower by bitcoin's sharp drop. S&P Global said it would not change the eligibility requirements for its major indices, which effectively rules out a swift entry for Elon Musk's SpaceX to the benchmark S&P 500 after it goes public in what would be the world's biggest initial public offering.S&P Dow Jones Indices will announce the results following its rebalancing after markets close. Chipmaker Marvell Technology, which boasts over $270 billion in valuation, is among the contenders to be added to the benchmark index.
GQG Partners has pared its holdings in two Adani Group companies through block deals worth about Rs 5,750 crore, with SBI Mutual Fund emerging as the buyer of the entire stake on Friday. According to NSE block deal data, GQG Partners Emerging Markets Equity Fund sold shares in Adani Enterprises and Adani Energy Solutions.The larger transaction involved 1.64 crore shares of Adani Enterprises sold at Rs 2,913.4 apiece, translating into a deal value of about Rs 4,789 crore. In a separate transaction, GQG sold 63.66 lakh shares of Adani Energy Solutions at Rs 1,504.8 per share, amounting to around Rs 958 crore.Together, the two transactions were valued at about Rs 5,747 crore. The shares were acquired by SBI Mutual Fund at the same prices through corresponding block deals.The stake sale comes after a strong run in Adani Group stocks over the past year, during which several group companies recovered sharply from the volatility that followed allegations made by US-based short seller Hindenburg Research in 2023.GQG had emerged as one of the earliest large institutional investors to back the Adani Group following that episode. Beginning in 2023, the fund manager invested billions of dollars across multiple Adani companies, helping restore investor confidence at a time when foreign institutional participation in the group had weakened.Since then, Adani companies have focused on deleveraging, strengthening cash flows and improving operational performance. Several group entities have reported healthy earnings growth, while execution across infrastructure, energy and transport businesses has remained strong.The latest transaction will be viewed by market participants largely as a portfolio rebalancing exercise rather than a change in the fund's broader investment thesis on the group.Adani Enterprises, the flagship incubator of the conglomerate, houses businesses spanning airports, roads, green hydrogen, data centres and mining services. Adani Energy Solutions is one of India's largest private-sector transmission companies and is expanding its presence in smart metering and distribution infrastructure.Shares of both Adani Enterprises and Adani Energy Solutions are likely to remain in focus as investors assess the implications of the stake sale and changes in institutional ownership.
A sharp rise in blocking and seizure of cattle trucks in neighbouring States, especially Andhra Pradesh, has severely affected the supply of cattle for slaughter, pushing Kerala’s private meat industry into a difficult situation
Currency market participants said investor confidence improved following the RBI's policy announcements, particularly after the central bank emphasised that India's foreign exchange reserves remain strong enough to cushion the economy against external disruptions.
Shares of Hindustan Zinc sharply tumbled nearly 5% on Friday after a report said that the government is planning to sell as much as 2% stake in the metals major for up to Rs 5,000 crore ($525 million).The shares of the company dropped to Rs 575.20 apiece on NSE, the lowest level seen by the stock in six weeks, after the release of the Bloomberg report, citing people familiar with the matter. Shares of Vedanta, meanwhile, tumbled 3% to Rs 318.80 apiece.The Department of Investment and Public Asset Management (DIPAM) aims to launch the process this month or in July this year, the report said, adding that ICICI Securities, Axis Capital, IIFL Capital Services, and HDFC Securities are advising the government on the transaction.Hindustan Zinc shareholding patternThe Central government held nearly 28% stake in India’s largest silver producer, according to data on the company’s shareholding pattern as on March 31, 2026. Its largest promoter, Vedanta, meanwhile, held nearly 61% stake in the company.Another 3.5% stake was held by insurance companies, while foreign investors held more than 2% stake in Hindustan Zinc, as at the end of the January-March quarter of FY26.The latest report on the government's possible stake sale in Hindustan Zinc comes after the centre ramped up its disinvestment efforts. Last week, the government raised about $531 million from the sale of 2% stake in Coal India. Earlier this week, it raised $450 million by selling 6% stake in NHPC. Bloomberg also reported that the government is now mulling an OFS to sell 2% stake in LIC to raise as much as Rs 10,000 crore.ED raids at Hindustan Zinc officesThe shares of Hindustan Zinc declined earlier this week after Vedanta said that the Enforcement Directorate team visited some of its offices, confirming news reports. "We hereby inform that the Enforcement Directorate team visited some offices of our company and Hindustan Zinc, a subsidiary of the company," Vedanta said after stock exchanges sought clarification regarding news reports around ED conducting searches against Vedanta Group in FEMA probe. The Anil Agarwal-led company added that it is fully cooperating with the authorities and providing all requested information.Later, Vedanta announced that the searches had concluded and no penalty or restriction had been imposed by the authorities.Hindustan Zinc share priceHindustan Zinc shares have fallen more than 9% in one week and 6% in one month, while being down more than 6% in 2026 so far. The shares of the company have gained around 17% in one year.Also read: Did this L&T-backed AI stock actually crash 90% in one day? Here's all you need to knowIn the longer term, the stock delivered 87% returns over three years and 72% returns over five years. The company currently has a market capitalisation of more than Rs 2.43 lakh crore. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Shares of Go Digit General Insurance surged 8.66% to Rs 329 during Friday's trading session, extending gains after a significant Rs 100-crore block deal in the previous session attracted prominent institutional investors.The block deal saw Aditya Birla Sun Life Mutual Fund and JPMorgan (Taiwan) Eastern Technology Fund collectively acquire 33.33 lakh shares at a weighted average price of Rs 300 per share.Aditya Birla Sun Life Mutual Fund purchased 21.66 lakh shares worth approximately Rs 65 crore, while JPMorgan (Taiwan) Eastern Technology Fund acquired 11.66 lakh shares valued at around Rs 35 crore.The seller in the transaction was Peak XV Partners Growth Investments III, which offloaded its entire 33.33 lakh-share stake for nearly Rs 100 crore.Stock PerformanceDespite Friday's sharp rally, Go Digit Insurance has remained under pressure over the past year, with the stock declining around 10% during the period. The company currently commands a market capitalisation of Rs 27,993 crore.The stock's 52-week high stands at Rs 381.40, while its 52-week low is Rs 295.50.On the valuation front, Go Digit Insurance trades at a Price-to-Earnings (P/E) ratio of 49.28 and a Price-to-Book (P/B) ratio of 6.51, reflecting premium market expectations for the insurer's growth prospects.The company delivered a robust financial performance in the March 2026 quarter. Revenue rose 9% year-on-year to Rs 3,181 crore, while net profit surged 49.2% YoY to Rs 173 crore, highlighting improved profitability and operational efficiency.The shareholding pattern for the March 2026 quarter reflected mixed investor activity. Promoters marginally reduced their stake in the company from 73.03% to 73.01%, while Foreign Institutional Investors (FIIs) trimmed their holdings from 8.26% to 8.01%. In contrast, mutual funds increased their ownership from 8.02% to 8.28%, signaling continued confidence from domestic institutional investors despite the reduction in foreign investor participation.From a technical perspective, the stock's Relative Strength Index (RSI-14) stands at 40.8. An RSI below 30 is generally considered oversold, while a reading above 70 signals overbought conditions.Go Digit Insurance is currently trading above 5 out of its 8 key Simple Moving Averages (SMAs), suggesting improving near-term momentum. However, the stock remains below its 100-day, 150-day, and 200-day moving averages, indicating that long-term trend confirmation is still awaited.The sharp rally following the Rs 100-crore block deal and increased mutual fund participation has put Go Digit Insurance back on investors' radar. Market participants will closely watch whether the stock can sustain momentum and reclaim key long-term resistance levels in the coming sessions.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Indian stock market traded in the green on Friday, with Sensex and Nifty extending gains for the second consecutive session as investors await the outcome of RBI’s Monetary Policy Committee’s (MPC) meeting today.Sensex gained 270 points at 74,629.94, while Nifty 50 rose over 62 points at 23,478.95. This came as India VIX, which measures volatility in markets, fell over 2% to 15.89.Infosys, UltraTech Cement, TCS, Tech Mahindra, M&M and Maruti Suzuki shares gained over 1% each to lead gains on Sensex. Tata Steel shares meanwhile fell over 1% to lead losses on the benchmark index.Broader markets also traded in the green, with Nifty Smallcap 100 and Nifty Midcap 100 indices gaining over 0.3% each. All sectoral indices opened in the green, with Nifty Consumer Durables, Nifty IT and Nifty Media rising nearly 1% each. Around 1,824 stocks advanced on NSE, while 523 declined and 101 remained unchanged.What’s moving the stock market upward today?"There are some mild positive indications for the market today. There are signs of weakness in the AI trade in the US, South Korea and Taiwan and rotation away from tech stocks, but it is too early to say whether this will sustain,” said VK Vijayakumar, Chief Investment Strategist at Geojit Investments.The focus of the market today will be on the monetary policy and the message from the RBI Governor, the analyst said. “The MPC is likely to hold rates with a guidance of a rate hike later in the year to combat inflation which is expected to rise in H2 FY27. RBI is likely to revise the GDP growth for FY 27 downward and CPI inflation upward in the context of the energy shock and its implications,” he added.According to Vijayakumar, the most likely policy action is a ‘hawkish hold’, that is, the RBI would hold the rates without any change but would send a hawkish message that inflation is set to rise and, therefore, expect rate hike later this year. If the RBI decides to act now with a 25 bps rate hike, that will move the banking stocks sharply upwards since they would benefit from rate hikes, he further said. However, a rate hike would be negative for interest elastic segments like automobiles and real estate, the analyst added.Rupee risesRupee meanwhile gained 8 paise to 95.66 against US dollar in early trade. “With India's import bill under pressure from elevated commodity prices and continued FII outflows, participants will closely monitor the Governor’s commentary for cues on inflation, currency stability, and future policy direction,” said Jateen Trivedi, VP Research Analyst of Commodity and Currency at LKP Securities.The analyst expects the near-term range for rupee to be 95.25–96.25.FII selling continuesForeign investors continued to remain bearish on Indian markets. FIIs net sold Indian shares worth Rs 4,447 crore on Thursday, according to data on NSE.Notably, FIIs have remained net sellers of Indian equities for five consecutive sessions. (With inputs from agencies)(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Google cofounders Larry Page and Sergey Brin each saw their fortunes drop by approximately $10 billion following Alphabet's announcement of an $80 billion stock sale. This massive fundraising aims to fuel the company's AI expansion amidst intensifying competition and projected significant capital expenditures. The market's reaction to the ambitious plan led to a sharp decline in Alphabet's share price.
In the financial year 2024–25, total India-Russia trade reached an all-time high of about $68.7 billion, up sharply from roughly $13 billion in 2021, marking nearly a five - to six- fold increase over four years.
A 42-year-old Delhi University assistant professor, Debosmita Paul, was discovered murdered in her Vasundhara Enclave apartment. Her sister found her with severe head injuries, suggesting an attack with a blunt object and possibly a sharp weapon. While robbery isn't the primary suspect, investigators are exploring her personal and professional life, including ongoing separation proceedings.
Wall Street advanced on Thursday as progress toward ending the Iran war buoyed investor sentiment, while disappointing results from Broadcom led a chip selloff that held the Nasdaq's gains in check.The blue-chip Dow surged, hitting a record closing high with a boost from healthcare and financial stocks.The S&P 500 posted more muted gains, while the Nasdaq ended essentially unchanged. Chipmaker Broadcom missed revenue expectations, sending its shares tumbling and casting a pall over the AI frenzy, which has sent chip stocks soaring so far this year."About the only blemish on the market at this point is Broadcom, and I think investors are buying the dip," said Paul Nolte, senior wealth adviser and market strategist at Murphy & Sylvest in Elmhurst, Illinois. "I don't think investors have given up on chips yet, but what they've yet to come to grips with, 'Is this real? Are these valuations legitimate?' I'm not sure yet that investors have really questioned that." The U.S. House of Representatives passed a measure on Wednesday that would block President Donald Trump from continuing the war on Iran. Additionally, a U.S.-mediated ceasefire agreement between Israel and Lebanon, an essential condition of an Iranian agreement to a peace deal, bolstered optimism of a near-term resolution to the war. But the truce was rejected by the pro-Iran Hezbollah, which said it would not withdraw troops from Lebanon.A drop in front-month crude futures reflected hopes that tanker traffic through the crucial Strait of Hormuz could shortly resume."How many deals have we had? It's always right around the corner, a corner we've yet to reach," Nolte added. "Things are moving, but are they moving at a pace that's going to allow the world to get back to what passes for normal in a few weeks, a few months, or maybe sometime next year?"On the economic front, initial jobless claims unexpectedly rose 6.1%, and first-quarter labor costs and productivity were revised sharply lower. A report from Challenger, Gray and Christmas showed layoffs announced by U.S. corporations jumped 11% in May to 97,006. Nearly 40% of those layoffs were attributed to AI.According to preliminary data, the S&P 500 gained 31.14 points, or 0.41%, to end at 7,584.82 points, while the Nasdaq Composite lost 19.72 points, or 0.07%, to 26,834.26. The Dow Jones Industrial Average rose 875.09 points, or 1.73%, to 51,562.16.Chipmaker Marvell Technology gained, while Advanced Micro Devices, Micron Technology and Qualcomm lost ground on the day.The healthcare sector got a boost from UnitedHealth after Bank of America raised its rating on the healthcare conglomerate's shares to "buy."The financial index's rebound followed a sharp selloff in the previous session due to revived concerns over private credit. Blackstone shares advanced after it became the latest asset manager to cap withdrawals from its flagship private credit fund following a rise in redemption requests. Cybersecurity firm CrowdStrike slumped after reporting an increase in quarterly operating expenses. An investor roadshow for Elon Musk-led SpaceX began on Thursday ahead of its market debut on June 12. It aims to raise $75 billion in a record IPO that would value it at $1.75 trillion.
The Indian stock market closed nearly flat, with Sensex and Nifty ending the session in the green with marginal gains after seeing sharp upswings and downswings during the day.Sensex rose nearly 14 points to close at 74,360, while Nifty 50 rose around 11 points to end the session at 23,417, nearly unchanged from the previous session. This came as India VIX, which measures volatility in markets, fell over 3% to 15.77.Titan shares jumped 4% to lead gains on Sensex, while Zomato-parent Eternal jumped 3% to follow. ITC, Tech Mahindra, SBI, Bharat Electronics and ICICI Bank shares meanwhile gained around 1% each. On the other hand, Infosys, Bajaj Finserv, UltraTech Cement, Adani Ports and Tata Steel shares dropped around 15 each.Broader markets closed with higher gains, with Nifty Midcap 100 and Nifty Smallcap 100 indices gaining around 0.5% each. Sectorally, Nifty Consumer Durables rallied more than 2%, while Nifty Metal declined 0.7%. Around 1,817 stocks advanced on NSE, while 1,474 declined and 105 remained unchanged.Rupee watchNotably, investors now await the outcome of the Reserve Bank of India’s Monetary Policy Committee's (MPC) meeting tomorrow. Meanwhile, rupee closed at 95.7850 per U.S. dollar, from 95.7050 on Wednesday.FIIs net sold Indian shares worth Rs 5,617 crore on Wednesday, according to data on NSE. They have net sold Indian equities worth more than Rs 39,625 crore in just four consecutive sessions.India may scrap capital gains tax on FPI investments in govt securitiesThe Indian government is planning to scrap capital gains tax on investments in government securities by foreign portfolio investors (FPIs), a move which will likely shore up overseas capital inflows into the country, The Economic Times reported citing people familiar with the matter.The Cabinet, in a meeting chaired by Prime Minister Narendra Modi on Wednesday, approved the promulgation of an ordinance to amend the Income Tax Act to pave the way for this exemption, sources further told The Economic Times, adding that a notification is expected soon after the President gives her assent to the ordinance.What lies ahead?On Thursday, the benchmark index Nifty opened with a gap-down. However, the index staged a recovery from lower levels and eventually closed on a flat note. Notably, this marked the third consecutive session where Nifty found support near its prior swing low and rebounded thereafter, said Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities. He however added that a sustained follow-up move on the upside is still required to confirm a potential reversal.“At present, the index continues to trade below its key moving averages, while momentum indicators suggest a sideways trend. The daily RSI has been oscillating within a narrow range for the last 40 trading sessions, in line with the RSI range shift rules, indicating lack of directional strength,” he said.Going ahead, Shah expects the 23,550–23,580 zone to act as an important hurdle for Nifty 50.. A sustained move above the 23,580 level could trigger an extension of the ongoing pullback rally, potentially paving the way towards the 23,700 mark, he said. On the downside, he sees 23,330–23,320 zone as likely to serve as a crucial support area.(With inputs from agencies)(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
International brokerage firm Jefferies started coverage on Poonawalla Fincorp with a Buy rating and a target price of Rs 490, implying an upside of 23% from current market levels, citing positive levers of growth. Jefferies says the company is well positioned to accelerate growth under its revamped leadership team, expanding product portfolio, wider distribution network and sharper underwriting practices. The brokerage expects the company to deliver a 33% AUM CAGR, the fastest among major NBFCs, supported by an improving loan mix, better net interest margins and lower credit costs driven by reduced slippages and a healthier portfolio mix. Analysts also forecast a sharp improvement in profitability, with RoA/RoE expected to expand to 16% by FY29 from 6% in FY26, which it believes should support the stock's premium valuation multiples. The brokerage cited the company's ongoing strategic transformation under CEO Arvind Kapil, former head of retail and mortgage banking at HDFC Bank as a positive. The brokerage highlighted the leadership overhaul, with seven of nine CXOs coming from HDFC Bank, alongside the launch of six new products including prime personal loans, commercial vehicle loans, gold loans and education loans. These new segments have already scaled to 14% of AUM within a year and are expected to contribute 34% of AUM over time. Jefferies expects the company to deliver a 33% AUM CAGR during FY26-29, supported by investments in distribution, collections, technology and AI, as well as its AAA credit rating and backing from the Adar Poonawalla Group.The brokerage expects margins to improve as the company shifts toward higher-yielding products. After contracting by 250 basis points over the past two years due to the run-down of its legacy personal loan portfolio, NIMs are projected to expand by around 70 basis points over FY26-29, aided by growth in products such as prime personal loans and gold loans. At the same time, Jefferies expects cost-to-AUM to improve to 3.9% by FY29 from 4.4% in FY26 on the back of operating leverage.Asset quality trends have also strengthened, with gross NPAs declining to 1.4% from 1.8% in FY25, supported by tighter underwriting and the reduction of the stressed legacy personal loan book. Jefferies noted that delinquency levels in loans originated after September 2024 are running about 50% lower than the previous 12-month cohort. It expects credit costs to moderate to 2.2% over FY26-29 from 2.7% in FY26, driven by better portfolio quality and a growing share of lower-risk products such as gold and education loans.Following a Rs 2,500 crore capital raise in April 2026, the company's Tier-1 capital ratio has risen above 19.5%, providing ample room to fund growth. Jefferies forecasts profit after tax to surge to Rs 2,900 crore by FY29 from Rs 540 crore in FY26, while return on assets and return on equity are expected to improve to 2.3% and 16%, respectively, from 1.1% and 6% in FY26. Despite trading at 2.4x FY27 estimated book value and 25x FY27 estimated earnings, the brokerage believes Poonawalla Fincorp's strong growth trajectory and improving profitability justify premium valuations and could support further re-rating if execution remains robust. Key risks include weaker-than-expected execution, margin pressure and higher credit stress.In Thursday’s session, shares of the company are down 1.5% to Rs 394 on the BSE. Poonawala Fincorp shares are down 18% in 2026. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
International brokerage firm UBS downgraded BHEL to "Neutral" from "Buy" rating, while raising its target price to Rs 460 from Rs 375, indicating a potential upside of 13.6%. In today’s session, the stock is up over 1% at Rs 411 on the BSE. UBS believes a significant portion of the company's order book expansion is already behind it and noted that competition has intensified over the last three years, with rivals such as L&T and Thermax displaying a stronger appetite for new orders. The brokerage said the stock's risk-reward profile has become more balanced after BHEL outperformed the Nifty by nearly 60% over the past 12 months. Despite the downgrade, UBS remains constructive on BHEL's long-term outlook. It expects a steady flow of orders from the thermal power and industrial segments and believes the company's multi-year revenue visibility does not warrant a "Sell" rating.The brokerage continues to hold earnings estimates above the Street's expectations and has raised its FY27 and FY28 earnings forecasts by 1-3%. It has also increased its valuation multiple to 28x from 25x, factoring in a meaningful ramp-up in execution and an improvement in gross margins. UBS further noted that the order book accumulated during FY23-FY26, when BHEL captured an estimated 75-80% market share, provides strong revenue visibility through FY30.Last month, the PSU company reported a whopping 156% surge in its consolidated net profit to Rs 1,290.50 crore for the January-March quarter of the financial year 2026. Sequentially, net profit saw a sharper rise of nearly 231% from the Rs 390.40 crore reported in the third quarter of the financial year 2026.BHEL’s revenue from operations meanwhile grew 37% YoY to Rs 12,310 crore in Q4 FY26, from Rs 8,993 crore in Q4 FY25. The company’s EBITDA more than doubled to Rs 2,005 crore during the quarter under review, from Rs 990 crore in the year-ago period.For the entire financial year 2026, BHEL saw its net profit surge 200% to Rs 1,600.26 crore, from Rs 533.90 crore in FY25. Revenue, meanwhile, grew 19% YoY to Rs 33,782 crore for the financial year, which ended on March 31, 2026.BHEL shares have risen 38% since the beginning of 2026 and about 50% in the last 1 year.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
New Delhi: India is set to scrap capital gains tax on investments in government securities by foreign portfolio investors (FPIs) in an effort to shore up overseas capital inflows into the country as the Centre seeks to mitigate the effects of the Iran war on the economy, said people familiar with the matter.The Cabinet, in a meeting chaired by Prime Minister Narendra Modi on Wednesday, approved the promulgation of an ordinance to amend the Income Tax Act to pave the way for this exemption, the people said. A notification is expected soon after the President gives her assent to the ordinance.More measures are expected to encourage capital flows.Foreign investors are currently subject to 12.5% long-term capital gains (LTCG) tax on listed shares and bonds held for more than 12 months. They also pay a 20% withholding tax on interest earned from government bonds. The government had ended the concessional 5% rate available to them in 2023. 131494504Industry DemandThe government had used the ordinance route in 2019 to cut the corporate tax rate to encourage private investment.Market participants have been urging a reduction in LTCG tax and withholding tax on interest earned on government bonds amid sustained capital flows out of India.The latest move comes in the backdrop of foreign portfolio flows turning negative and the rupee weakening sharply against the dollar with the West Asia conflict continuing.Regulators are expected to initiate further measures to complement the government's efforts to make the Indian markets attractive for foreign capital, said one of the persons cited above.In the calendar year so far, exits by FPIs add up to a net Rs 2.47 lakh crore, more than double the Rs 1.04 lakh crore they pulled out in calendar 2025. The rupee hit an all-time low of 96.965 to the dollar on May 20 but has since rebounded as the Reserve Bank of India has stepped up support and oil prices eased after renewed US-Iran peace efforts.(With inputs from Anuradha Shukla & Jatin Takkar)
A major controversy has erupted at Kolkata’s Surendranath College after termite-infested cash was allegedly discovered inside the students’ union room, triggering a political storm in West Bengal.The damaged cash, reportedly worth around ₹1 crore, has sparked sharp exchanges between the BJP and TMC. Allegations of an admission racket, misuse of student funds and irregularities in college operations have now come to the fore.The discovery has intensified scrutiny of student politics, union room control and accountability within educational institutions. As the political fallout grows, questions are being raised over who stored the cash, where it came from and why it remained hidden for so long.Watch the full report for the latest updates on the Surendranath College cash controversy. n18oc_indian18oc_politicsn18oc_the-right-standNews18 Mobile App - https://onelink.to/desc-youtube
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 shares of Vodafone Idea sharply surged nearly 7% to a new 52-week high of Rs 15.09 apiece on the NSE on Wednesday, even as the Sensex and Nifty crashed, as multiple tailwinds boosted investor sentiment for the telecom major.The stock has rallied 46% in one month and a whopping 121% in one year. The company currently has a market capitalisation of more than Rs 1.62 lakh crore.ICRA upgrades Vodafone Idea’s rating, revises outlookRatings agency ICRA upgraded Vodafone Idea’s rating to A- from its earlier BBB rating and revised its outlook on the company’s long-term fund-based loans worth Rs 727 crore to ‘Stable’ from ‘Positive’. ICRA said that the rating upgrade was driven by a change in rating approach for Vodafone Idea to factor in support from promoter Aditya Birla Group, which was further strengthened with the re‑appointment of Kumar Mangalam Birla as the Chairman of the board and with the proposed equity infusion of approximately Rs 4,730 crore through a preferential allotment of warrants to a promoter group entity in May 2026. “These developments reflect strong confidence in Vi’s potential and long-term growth trajectory. The Aditya Birla Group has expressed its continued support to Vodafone Idea to ensure timely debt servicing and to ensure continuity of operations and improvement in its market position. The Aditya Birla Group has been consistent in providing operational and financial support to Vi and will continue to do so going forward. Further, the Group’s brand equity and market position provided Vi with assistance in Government engagement and higher financial flexibility,” it added.ICRA also highlighted the revision of Vodafone Idea’s adjusted gross revenue (AGR) dues. In May, the Department of Telecommunications (DoT) cut Vodafone Idea's AGR dues by 27% to Rs 64,046 crore as of December 31. This revision significantly alleviates the company’s liability burden and enhances cash flow visibility, the ratings agency said, adding that these will provide a push to the telco’s capex plans.Citi removes ‘High Risk’ rating on Vodafone Idea sharesCiti removed its 'High Risk' rating on the stock and raised its target price to Rs 17, implying an upside potential of more than 20% from the previous closing price. In its latest note, Citi Research changed its rating on Vodafone Idea shares to ‘Buy’ from ‘Buy-High Risk’, citing several tailwinds, including the government’s recent reassessment of AGR dues, rating upgrades, equity infusion by the Aditya Birla Group, and other factors into consideration.The brokerage, however, flagged key risks to its bullish view, including delays in bank funding, intensifying competition that could limit future tariff hikes, continued subscriber churn, and slower-than-expected growth in 4G and 5G users.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)