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Sudanese national with fever detected at Hyderabad airport amid Ebola scare, shifted to Gandhi Hospital

Health authorities clarified that the passenger has not been classified as a suspected Ebola patient and is undergoing precautionary testing owing to his travel history and symptoms

Jefferies initiates coverage on Poonawalla Fincorp with Buy rating. Why are analysts bullish?

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)

Soldier injured in accidental firing in J&K’s Poonch

Army authorities evacuated the injured soldier and shifted him to a hospital in Rajouri

The ₹ warning: Six actions for biz leaders

The Indian rupee is trading around Rs. 95-96 to the dollar in late May 2026, setting fresh record lows. Markets are openly discussing the Rs. 100 threshold. The rupee has weakened in almost every year since 2014 and has lost approximately half its value against the dollar over that period. The end of this currency depreciation is not in sight. The factors that would stop it are not yet visible.The government is acting. State run oil companies have implemented four fuel price hikes in ten days as of May 25, taking petrol in Delhi past Rs. 102 per litre. This is the right and necessary response to the energy cost reality created by the Iran war. Crucially, the Modi government has also done its part on the macroeconomic front, consistently and aggressively reducing the fiscal deficit as a percentage of GDP to maintain structural stability.Yet, the currency pressure persists. The energy price impact has not yet fully reached Indian consumers and supply chains. It is coming.Uday Kotak said it plainly at the CII Annual Business Summit on May 12: "Be ready for tough times rather than waiting for the shock to hit us." He was right.Also read | Manufactured monopoly: How industrial policy is structuring monopolies in IndiaThis is not a time to panic. But it is a time to act. The leaders who move now will have options. Those who wait will not.The Overriding Factor: The Psychology of the PlayersWhy is the currency declining despite strong domestic fiscal discipline? Because exchange rates are not driven by mathematical models alone. The currency decline is highly affected—and accelerated—by the psychology of all players engaged in this endeavor.Currency movements are deeply behavioral. When a currency visualizes a downward trend, psychology shifts from calculation to self-protection and speculation. Every player in the ecosystem operates under this psychological weight:Corporate CFOs and Treasurers: Instead of hedging normally, they rush to cover future dollar liabilities early, hoarding hard currency and inadvertently worsening the scarcity.Foreign Investors: They begin to judge their returns not by the quality of Indian business operations, but by the eroding value of the conversion rate.Importers and Exporters: Importers advance their payments to avoid paying more tomorrow; exporters delay converting their dollar earnings back into rupees, waiting for a "better" rate. This collective psychology creates a self-fulfilling prophecy.Investors, CFOs, and FDI decision makers extrapolate what is happening now into the future. When they see a currency that has lost approximately half its value since 2014 with no clear floor in sight, their psychological pivot alters market realities.Also read | India tightens checks on overseas flows as currency pressure mounts, sources sayThe cascading timeline of Foreign Portfolio Investor (FPI) equity behavior perfectly mirrors this psychological shift from rational evaluation to systemic risk aversion:2024 (The Calculation Phase): Rupee averages Rs. 83-84. FPI flows remain positive (+$12 billion) as investors trade on strong domestic corporate earnings.2025 (The Self-Protection Phase): Rupee slides past Rs. 89. Collective psychology shifts to risk mitigation. FPIs withdraw a record $18.4 billion from Indian equities—the largest annual equity outflow on record.Early 2026 (The Capitulation Phase): Rupee breaks past Rs. 95. Sentiment turns into an outright exit strategy. In the first four months of 2026 alone, outflows have already reached $19.1 billion, completely bypassing the entire previous year's record loss in a fraction of the time.FDI agreements are being signed, but capital is delayed because players are psychologically hesitant to deploy funds into a depreciating asset.The Trap of Hard Currency Debt: A Broken Business Model There is a highly significant and dangerous phenomenon unfolding in India today that requires immediate exposure. For years, a specific class of Indian corporates adopted a regular strategy of borrowing heavily in hard currency (External Commercial Borrowings, or ECBs). Lured by low nominal global interest rates, several of these companies over borrowed, treating cheap dollar debt as a permanent structural advantage.Today, that strategy has become a trap. The compounding effect of a depreciating rupee, skyrocketing hedging costs, and brutal refinancing realities is fundamentally breaking their business models.Consider the mechanics of this crisis:The Hedging Penalty: Leaving dollar debt unhedged is now corporate roulette. However, buying hedges at current rupee levels has become structurally prohibitive. The cost of protection completely wipes out any interest rate advantage.The Refinancing Wall: Billions in foreign debt are coming due. These over-borrowed companies must now refinance their liabilities at a time when the rupee value has materially deteriorated. They are effectively forced to borrow far more rupees just to pay back the same amount of original dollars.The Crushing Cost of Rupee Capital: As these companies try to pivot back to domestic lenders, they face a severe escalation in their rupee cost of capital.The Growth Verdict: When your cost of capital spikes and your cash flows are consumed by servicing legacy dollar debt, future growth stops. Capital expenditure (CapEx) plans are being frozen. These companies can no longer invest in innovation, capacity, or market expansion. Their business model shifts overnight from aggressive value creation to basic survival. Boards must realize that this is not a temporary treasury headache; it is a structural threat to the company’s future viability.India's forex reserves stand at approximately 10 to 11 months of import cover. Substantial, but being actively deployed to defend the currency. Some imports are non-negotiable: oil, critical inputs, components. These will now cost more. That cost passes through every supply chain.Six Actions for Business Leaders1. Protect your cash and liquidity first. This is the most immediate priority. Map your cash position today. Identify every source of liquidity across the next twelve months. Stress-test it at Rs. 100 and beyond. Which receivables are at risk? Which credit lines are rupee-denominated and which are not? Companies that run into a cash crisis during a currency depreciation cycle lose their options entirely. The CFO must own this analysis and present it to the board within days, not weeks.2. Act now on your foreign currency borrowings, hedging, and refinancing. Do not assume the rupee will recover to Rs. 80. Analyse your full foreign currency exposure across the next three years: every loan, every refinancing date, every hedging contract, every procurement price denominated in foreign currency. Hard currency loans now face refinancing at rupee values that have materially deteriorated. Model every scenario at Rs. 100 and beyond. Your CFO, treasury, and procurement team must be aligned on one instruction: do not run into a liquidity crisis. This analysis must happen now, not at the next quarterly review.3. Build a war room. Most companies have begun thinking about war rooms for supply chain disruptions. Expand the mandate. Currency exposure belongs in the same room. Which of your costs are dollar or euro denominated? Which of your revenues are rupee denominated? Where is the mismatch? What is your break-even exchange rate? If you do not have clear answers today, you are exposed. The war room is not a committee. It is a real-time decision environment with live data, a clear owner, and the authority to act.4. Use the currency depreciation advantage: double your export salesforce. A weaker rupee makes Indian exports more competitive. This window will not stay open indefinitely. Double the salesforce in your export markets now. Use this period to upgrade quality, improve service delivery, and build customer relationships that will last beyond the currency advantage. Indian exporters who invest in capability during this period will emerge stronger regardless of what the rupee does next. Those who simply ride the price advantage without building the underlying business will lose when conditions change.5. Watch your stock and your sector. Banks and financial institutions should already be on high alert. Companies with large foreign currency exposure will see pressure on their financials. Some stock prices are already reflecting this. Go through your sector company by company. Identify who is most exposed. If you are an investor or a lender, this analysis is not optional. The combination of currency depreciation, rising oil prices, and FPI outflows creates a compounding pressure that will surface in earnings before it surfaces in headlines.6. Cut costs aggressively. AI will help. There has never been more urgency to reduce costs than now. And there has never been a better tool to do it. AI can cut most operational costs by as much as 30% across functions: procurement, finance, customer service, logistics, and compliance. McKinsey data confirms companies adopting AI and automation reduce operational costs by 20 to 30 percent. This is not a future opportunity. It is a present imperative. Every rupee of cost removed through AI is a rupee that does not need to be recovered through revenue in a deteriorating currency environment. Start now with your highest-cost functions.The CFO as CaptainCurrency risk is a cash flow risk. Every function that touches foreign currency—procurement, treasury, sales, capex planning— must now report into a single coordinating authority. That authority is the CFO. This is not about hierarchy. It is about clarity. In a currency crisis, fragmented decision-making is as dangerous as wrong decision making. One captain. One consolidated view. Weekly reviews minimum.The Bigger PictureThis currency depreciation is a structural signal, not a cyclical one. India's economy must move from a cheap labour advantage to genuine global value creation.The companies that will survive and thrive are those building products and services that command premium prices in global markets. The rupee's weakness is a reminder that competing on cost alone has limits.The recently concluded trade agreements are a genuine opportunity. Execute them with full force. Build the export pipelines. Add the sales capacity.The businesses that move now, with discipline and clarity, will manage market psychology, navigate the debt trap, and define the next chapter of Indian industry.The shock is coming. Prepare before it arrives.Ram Charan is the author of China’s 90% model. It is restricting India’s industrial progress. Former Director of Hindalco and Muyuan (China).

Ranveer's 'Don 3' row: Producers Guild to hold fresh talks as FWICE drops non-cooperation order

The Producers Guild of India is mediating the 'Don 3' dispute between Ranveer Singh and Excel Entertainment after FWICE withdrew its non-cooperation directive. The Guild aims for an amicable resolution and clearer industry protocols. Excel Entertainment has cleared pending payments despite reported losses, signaling a potential shift in Bollywood's professional agreements. Read on to know more in detail.

Abhijeet Dipke’s family relocates as his political steps spark worries

The Dipkes have temporarily shifted from their home in the MIDC Waluj area of Chhatrapati Sambhaji Nagar, formerly Aurangabad, to an undisclosed location.

Microsoft AI CEO: My team is 'more concerned' about Anthropic, than Google, Meta and OpenAI

Microsoft's AI chief, Mustafa Suleyman, revealed a strategic shift, prioritizing competition with Anthropic over rivals like Google and Meta. This focus stems from Anthropic's aggressive entry into enterprise software and coding tools, posing a direct threat to Microsoft's core business. Microsoft is now developing its own advanced AI models to counter this challenge and reduce reliance on OpenAI.

Manufacturing sector emerges as key structural play amid global supply chain shift

Mumbai: Aggressive equity mutual fund investors looking to diversify beyond banks and information technology can consider an exposure to the manufacturing theme given the rising potential for the sector amid growing domestic demand and a focus of global companies to form alternative supply chains. Wealth managers, however, believe investors should consider this as a satellite allocation for their portfolio and stagger their investments over the next six months.The Nifty Manufacturing Index has a low overlap of only 19% with the Nifty 50. Investors looking to buy into segments absent in the Nifty 50, will find manufacturing a good fit. "The sector appears to be transitioning into the early-to-mid phase of a broader structural capital expenditure and earnings cycle-an environment that has historically supported sustained wealth creation," says R Sivakumar, chief investment officer, Axis Mutual Fund. Sivakumar believes after a relatively subdued 2025, the outlook for 2026 indicates recovery underpinned by continued policy support, strengthening domestic demand and Global supply chain diversification.131494387The BSE India Manufacturing TRI has gained 7.3% year-on-year and 15.8% annually over a three-year period, outperforming the 4% and 9.3% return of the Nifty 50 in that order. Despite the outperformance, analysts believe this theme merits investment as there are new opportunities coming up in the manufacturing space in addition to traditional opportunities.A rapid expansion in the global data center capacity has given rise to demand for power equipment, cooling systems, prefabricated industrial modules and speciality materials. In addition, geopolitical developments are forcing countries to move to green energy with focus on electric vehicles and renewables. Supply chain disruptions on account of tariffs in Europe are also bringing in opportunities for India.

Brokers prepare rollout of algo trading tools for retail investors

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 ₹5,000 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.

On June 10, Modi will break Nehru’s record of longest elected PM stint

Narendra Modi is set to become the longest-serving unbroken head of government in India, surpassing Jawaharlal Nehru on June 10. Modi's tenure, beginning May 26, 2014, will reach 4,399 days, just ahead of Nehru's 4,398 days. This milestone highlights a significant shift in Indian political leadership and policy direction.

The 4,399-Day Milestone: How PM Modi Is Set To Overtake Nehru As India’s Longest-Serving Elected Prime Minister

This transition marks a monumental shift in contemporary statecraft, cementing PM Modi's position as India's most electorally successful prime minister

Post-Operation Sindoor Shift: Turkey Moves To Decouple India Ties From Its Pakistan Alliance | Exclusive Details

This diplomatic overture is widely viewed by intelligence experts as a defensive narrative driven by Turkey’s pressing internal economic challenges

Video shows man trying to escape through smoke in Delhi’s Malviya Nagar hotel fire

A devastating fire in Malviya Nagar claimed 21 lives, including foreigners, as thick smoke choked the building. Amidst the chaos, a mattress trader, Riyazuddin Mansuri, and his son bravely used their goods to create a makeshift safety net, saving eight lives before the fire brigade arrived. Their selfless act provided a crucial cushion for desperate jumpers.

Do not shift Attakulangara jail until further orders: HC

TMC Crisis Deepens As Ritabrata Banerjee Recognised As West Bengal LoP | Big Blow To Mamata? |

In a historic political shift in West Bengal, the Trinamool Congress is facing major internal upheaval after Assembly Speaker Rathindra Bose reportedly recognised Ritabrata Banerjee as the new Leader of Opposition.The development is being seen as a significant setback to Mamata Banerjee’s authority, with rebel TMC MLAs backing Ritabrata’s claim amid rising dissent within the party.The move has triggered fresh questions over the future of the Trinamool Congress, its internal power structure, and whether the party can contain the growing rebellion. As political tensions rise, all eyes are now on Mamata Banerjee’s next move and the official TMC response.Watch the full report for the latest updates on the Bengal political crisis. -speakn18oc_breaking-newsNews18 Mobile App - https://onelink.to/desc-youtube

TMC's Firhad Hakim resigns as Kolkata mayor

Kolkata Mayor and Trinamool Congress (TMC) MLA Firhad Hakim has resigned from his post after receiving permission from party supremo Mamata Banerjee, senior TMC leader Kunal Ghosh said on Wednesday, amid deepening turmoil within the opposition party following its electoral defeat in West Bengal.The announcement came as the TMC grappled with its most serious internal crisis since losing power, with a large section of its legislators openly rebelling against the party leadership and seeking a reorganisation of the legislature wing.Also read: TMC crisis deepens as Mamata loyalists attend BJP-led review meetingThe political churn was visible on Wednesday when Hakim, along with TMC MLAs Nayana Bandyopadhyay, Ashok Deb and Kunal Ghosh, attended an administrative review meeting convened by Chief Minister Suvendu Adhikari at Nabanna, a development that added a fresh dimension to the ongoing unrest within the party, PTI reported.The attendance of several leaders considered close to Banerjee at the government meeting came even as the party's legislative wing appeared headed for an unprecedented split.Rebels stake claim to legislature leadershipHours earlier, 58 dissident TMC MLAs formally extended support to expelled legislator Ritabrata Banerjee as the new leader of the legislature party and conveyed their decision to Assembly Speaker Rathindra Bose, according to PTI.Ritabrata Banerjee, accompanied by fellow rebel MLA Sandipan Saha and other dissident legislators, met the Speaker and submitted letters of support purportedly signed by 58 MLAs.The rebel faction also proposed a new leadership structure, naming Ritabrata Banerjee as legislature party leader, Javed Khan, Sandipan Saha and Shiuli Saha as deputy leaders, and Raghunathganj MLA Akhruzzaman as the chief whip.Ritabrata Banerjee, Khan and Saha were also present at the chief minister's administrative review meeting later in the day.The developments followed a gathering of dissident legislators at the Assembly earlier on Wednesday. Significantly, none of the MLAs who attended the rebels' meeting had participated in Mamata Banerjee's dharna in central Kolkata on Tuesday, highlighting the growing divide between the party leadership and the dissident bloc.Also read: TMC rebels back expelled MLA Ritabrata Banerjee as legislature party leader in BengalPolitical signals from administrative meetingsSeveral leaders identified with the Kalighat leadership, including Hakim, Bandyopadhyay, Deb and Ghosh, skipped the Assembly meeting and instead attended the Nabanna review meeting.The latest development comes days after senior TMC MP Kakoli Ghosh Dastidar and six party MLAs attended an administrative review meeting chaired by Adhikari in Kalyani, triggering speculation over shifting political equations within the opposition camp after the assembly election setback.Political observers told PTI that with another set of TMC leaders attending Wednesday's meeting, the line between administrative engagement and political messaging was becoming increasingly blurred in West Bengal's evolving post-election landscape.The BJP government has maintained that such meetings are inclusive administrative exercises. During the previous TMC regime, BJP leaders had often alleged that opposition legislators were excluded from official review meetings.Soon after assuming office, Adhikari announced that opposition MPs and MLAs would be invited to government programmes and district-level administrative review meetings.Also read: TMC dissolves West Bengal units, launches overhaul after poll drubbingParty debates participationReacting to the participation of TMC legislators in such meetings last week, Kunal Ghosh had said the matter was being discussed within the party."We are not in favour of boycotting administrative meetings called by the state government. But when our party workers are being assaulted and rendered homeless in post-poll violence, we need to think twice before attending such meetings. Our party is also discussing whether we should continue participating in these meetings or not," he had said.The ongoing turmoil comes against the backdrop of the TMC's crushing assembly election defeat and growing uncertainty over the party's future leadership structure.

'Punjab focused more on...': Sachin Tendulkar explains PBKS' downfall

Punjab Kings experienced a dramatic IPL 2026 collapse, losing six straight after a perfect start. Despite a strong coaching team, they missed playoffs. Sachin Tendulkar attributed Punjab's downfall to a shift from process to results. He also lauded Gujarat Titans' consistent performance, highlighting their ability to manage volatility throughout the season.

DKS may not shift to CM’s official house ‘Cauvery’

Karnataka's new CM DK Shivakumar will not move into the official residence, allowing predecessor Siddaramaiah to stay post-tenure, following mutual agreement.

Rules tightened for foreigners extending stay

Foreign nationals in India on a 180-day visa must now register before their visa expires, a shift from the previous 14-day grace period. New rules also mandate that extensions for stays exceeding 180 days are strictly for emergent situations, with no single extension permitted beyond the initial 180-day limit. These changes were announced by the MHA.

War shifts direction of 80% of India’s diesel exports