뉴스

IIT denies JEE-Advanced data breach claim: 'Minimal, temporary misconfiguration’

Says tech interventions were carried out to ensure smooth functioning of registration process, which led to issue that was reported by a hacker and rectified

Muddy site, worker's legs crushed, 3 bodies: What we know so far about Faridabad's deadly crane collapse

The crane came crashing down onto a shipping container being used as a temporary site office and resting area for workers, officials said.

IndiGo suspends ops to 6 int'l destinations

IndiGo has announced the temporary suspension of flights to six international destinations as it adjusts its network amid softer travel demand and rising operational costs.The airline said the move is part of a broader network optimisation strategy aimed at matching capacity with current market conditions while maintaining operational efficiency.Which International Routes Has IndiGo Suspended?According to the airline, services to the following destinations will be temporarily suspended:Hong KongShanghaiHo Chi Minh CityLangkawiKrabiSiem ReapFlights to Hong Kong, Shanghai, Ho Chi Minh City, Langkawi and Krabi will be suspended from July 1, while services to Siem Reap will be paused from July 3.Read more: HSBC says Asia's largest slum could soon have metro stations, green spaces & 125,000 new homesThe suspension is expected to remain in place until September 30.Why Has IndiGo Suspended These Flights?IndiGo said the decision was driven by a combination of softer seasonal demand and a challenging operating environment.The airline noted that the upcoming quarter typically witnesses lower travel demand, especially on certain international routes.At the same time, airlines continue to face increased operational expenses, making it necessary to review network deployment.In a statement, IndiGo said: "These measured changes are designed to align capacity with current market conditions and demand trends, while ensuring the airline maintains reliability and network integrity across its global destinations."Will IndiGo Restart These Routes?Yes. The airline has confirmed that bookings for all affected routes will reopen from October 1, subject to an improvement in market conditions.IndiGo also stated that it remains prepared to restore services earlier if demand improves and operational conditions become more favourable.Airspace Restrictions Continue To Affect AirlinesApart from rising costs, airlines are also dealing with continuing airspace restrictions that have impacted flight operations and route planning.Several carriers globally have been forced to adjust schedules, reroute aircraft and review international networks due to changing geopolitical and operational challenges.IndiGo said it will continue monitoring the situation closely before making further decisions regarding these routes.IndiGo Retains More Than 1,800 Weekly International FlightsDespite the temporary suspension of six destinations, IndiGo said its international network remains largely intact.The airline continues to operate more than 1,800 international flights every week across its global network.This allows the carrier to maintain strong international connectivity while adjusting capacity where demand is currently weaker.What Does This Mean For Travellers?Passengers planning trips to the affected destinations between July and September may need to consider alternative airlines or adjust their travel plans.However, travellers heading to other international destinations served by IndiGo are unlikely to see any major disruption, as the airline has retained the majority of its overseas operations.The move highlights how airlines are increasingly balancing demand, operating costs and network efficiency as global travel patterns continue to evolve.IndiGo Focuses On Network OptimisationThe temporary suspension reflects a broader trend in the aviation industry, where airlines are becoming more flexible in managing capacity.Rather than operating flights with lower demand, carriers are increasingly redeploying aircraft to stronger-performing routes and adjusting schedules based on market conditions.For IndiGo, the strategy is aimed at protecting profitability while ensuring reliable operations across its growing domestic and international network.Inputs from PTI

Heavy rain lashes Karimnagar, brings temporary relief from blistering heat

June 12 last date to apply for teaching posts in KGBVs

The appointment of 299 vacant posts is purely temporary and is being made for the 2026–27 academic year, says Samagra Shiksha State Project Director

What Trump's Green Card changes mean for millions of Indians seeking permanent residency in US

A recent USCIS announcement sparked panic by suggesting temporary US residents must return home for Green Card applications, except in extraordinary cases. While the administration later clarified it was a reminder of existing discretion, the episode has created significant uncertainty around the Adjustment of Status process, impacting many immigrants and businesses.

Revenue department evicts encroachment on government land in Munnar

Nearly 20 families had encroached upon government Puramboke land in M.G. Colony and erected temporary shedsIDUKKI

Rajeev Thakkar on when to hold, when to exit, and why most get it wrong

For most investors, the focus is often on finding the right stock, entering at the right valuation, and identifying the next multibagger. Far fewer spend time understanding what may be the more difficult aspect of investing—knowing when to sell.Speaking at the ET Alpha Wealth Summit on Thursday on "The Art of the Exit," Rajiv Thakkar, CIO and Director at PPFAS Asset Management said that successful investing is not just about buying well but also about staying invested long enough for compounding to work. In fact, before discussing reasons to sell, he spent considerable time explaining why investors should avoid selling in the first place.According to Thakkar, one of the biggest mistakes investors make is selling because a stock has not moved for a few months.Also Read | ET Alpha Wealth Summit: Future alpha may emerge from neglected markets and asset classes, says Kalpen Parekh Investors often spend significant effort researching a company, understanding management quality, assessing industry prospects and evaluating valuations. Yet after purchasing the stock, many lose patience if prices remain stagnant for six months or a year.https://youtube.com/shorts/RiLj-X02NNE?feature=share"Investments are meant for wealth creation, not entertainment," he said, cautioning against treating investing like a source of excitement or constant action.Another common trigger for unnecessary selling is reacting to news flow. Markets are constantly bombarded with information—wars, elections, crude oil fluctuations, interest-rate decisions, capital flows and economic data. Investors who react to every headline often end up making poor decisions.To illustrate this, Thakkar recounted the story of an investor who received advance information about the severity of the Covid outbreak in early 2020. Acting on that information, the investor sold his technology stocks before the market crash. While the prediction turned out to be accurate, fear prevented him from re-entering the market, and he ultimately missed one of the strongest rallies in technology stocks.The lesson, according to Thakkar, is that even correct information does not necessarily translate into successful investment outcomes. Thakkar was particularly critical of the concept of "profit booking."Investors often feel compelled to sell simply because a stock has appreciated significantly. However, he argued that wealth is created by allowing successful investments to compound rather than by repeatedly locking in gains.Frequent buying and selling may benefit brokers, exchanges and tax authorities, but it often works against long-term investors. Hyperactivity in portfolios can destroy wealth by interrupting compounding and increasing costs.Similarly, investors should avoid selling because another stock appears more attractive. This "buyer's remorse" mindset frequently causes investors to abandon good businesses prematurely in pursuit of seemingly better opportunities."If you manage to find a genuinely good business with strong management, a large opportunity set and reasonable valuations, the best course of action is often to simply stay invested," he said.Thakkar emphasised that investors in taxable jurisdictions such as India should maintain low portfolio turnover whenever possible. Unlike institutional structures such as mutual funds or investors in tax-free jurisdictions, individual investors face taxes and transaction costs every time they trade. Excessive churn can significantly reduce long-term returns.For wealthy investors, family offices and HNIs, the ability to remain invested and minimise unnecessary transactions often becomes a major source of compounding advantage.Also Read | ET Alpha Wealth Summit: India could unlock a $5 trillion export opportunity through FTAs, says Saurabh Mukherjea While most reasons for selling are flawed, Thakkar identified several situations where exiting an investment becomes necessary. The most obvious reason is the need for capital. If an investor requires money for a business opportunity, acquisition or personal objective, selling investments may be entirely justified. More importantly, investors must be willing to acknowledge mistakes.If an investment thesis turns out to be wrong because of flawed analysis, poor due diligence or changing circumstances, the best course is often to exit quickly rather than averaging down endlessly.According to Thakkar, investors who recognise mistakes early frequently outperform those who identify good opportunities but refuse to sell losing positions. Capital trapped in poor investments cannot be deployed into better opportunities. Fraud, naturally, represents an immediate reason to exit.One of the more challenging selling decisions arises when industries face structural disruption. Questions such as whether newspapers can survive the internet, whether thermal power can coexist with renewable energy or whether traditional automobile manufacturers can adapt to electric vehicles rarely have straightforward answers.Thakkar suggested that investors should not react impulsively but should continuously evaluate incoming evidence. Investment decisions should be driven by facts rather than sentiment. If the underlying business continues to deteriorate because of technological or structural change, investors must eventually acknowledge reality and exit.At the same time, distinguishing genuine disruption from temporary noise remains critical. Exceptional businesses are not immune to becoming overvalued. Thakkar pointed to situations where valuations become so excessive that future growth is already fully reflected in stock prices. In such cases, taking profits, paying taxes and reallocating capital may be sensible.He also noted that investors may sell a reasonably valued investment if a significantly superior opportunity emerges elsewhere.During the question-and-answer session, investors raised concerns about stocks that stop performing despite sound fundamentals. Examples such as Maruti Suzuki, Bharti Airtel and even silver investments highlighted a common dilemma: should investors exit after years of gains and subsequent consolidation?Also Read | MF Tracker: Can ICICI Prudential Multicap Fund sustain its strong track record in a volatile market? Thakkar's response was that even excellent businesses can spend years moving sideways. Companies such as Hindustan Unilever, Infosys and Bharat Electronics have all gone through extended periods of stagnant share-price performance despite remaining fundamentally strong businesses.Investors should therefore distinguish between stock-price performance and business performance. As long as the underlying business continues to execute well, temporary market stagnation alone is not a sufficient reason to sell.For investors worried about selling too early, Thakkar recommended a phased approach. Instead of attempting to identify exact market tops, investors can gradually reduce exposure over time. For instance, if a stock appears significantly overvalued, an investor might sell a portion every month rather than exiting entirely in one transaction.This systematic approach helps manage the emotional difficulty of selling while reducing the risk of poor timing. Another important consideration is position sizing. Addressing a question about highly successful investments such as Nvidia, Thakkar noted that even outstanding businesses can become disproportionately large components of a portfolio.When a single stock grows from a small allocation into a dominant position, investors face a different risk—wealth preservation rather than wealth creation. His solution is gradual trimming. Investors can periodically reduce oversized positions to maintain comfortable portfolio weightings while still participating in future upside.This approach may not maximise returns, but it significantly reduces the risk of catastrophic losses and helps investors sleep better during periods of volatility.Thakkar concluded by stressing the importance of diversification and long-term investing. Most individuals create wealth through a single business, profession or sector. Their financial portfolios should therefore diversify away from that concentration rather than amplify it.Whether through mutual funds, retirement vehicles such as NPS, EPF and PPF, or diversified portfolios, investors should focus on owning inflation-protected assets for long periods. "The lower the churn in a portfolio, the greater the opportunity for compounding," he said.Ultimately, successful investing is not about perfectly timing every entry and exit. It is about avoiding unnecessary activity, admitting mistakes quickly, remaining patient with good businesses and ensuring that no single investment becomes large enough to threaten long-term financial stability.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)If you have any mutual fund queries, message on ET Mutual Funds on Facebook/Twitter. We will get it answered by our panel of experts. Do share your questions on ETMFqueries@timesinternet.in alongwith your age, risk profile, and Twitter handle.

Temporary structure seen at South China Sea atoll

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).

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

US reaches EB-2 visa limit for Indians; new visas resume in October

Indian applicants for the EB-2 visa category will face a temporary halt as the US has exhausted its FY2026 quota. Embassies can no longer issue these visas until October 1, 2026, when the new fiscal year begins and limits reset. This impacts those seeking permanent residency through advanced degrees or exceptional abilities.

GTRI makes a case against new India tariffs

India needs to challenge the legal basis of a proposed US tariff action that seeks to impose an additional 12.5% duty on imports from the country under a Section 301 investigation, trade policy think tank Global Trade Research Initiative (GTRI) said on June 3.The recommendation comes after the Office of the United States Trade Representative (USTR) proposed fresh duties on imports from 54 economies following a probe into the enforcement of restrictions on goods linked to forced labour.GTRI said that the investigation stretches the intended scope of Section 301, a trade enforcement mechanism traditionally used to address barriers affecting market access for American businesses in foreign jurisdictions, PTI reported.The current action is focused instead on whether countries regulate imports originating from third nations where forced labour concerns may exist, the think tank observed.Also read | Iran war puts Malhotra & Co in razor-edge policy bindThe proposed tariff rate of 12.5% for India and several other economies is also higher than the tariff ceiling committed by the US under multilateral trade rules, the think tank said.According to GTRI founder Ajay Srivastava, India should maintain that Washington is attempting to extend its domestic import-control framework beyond its borders through unilateral trade measures.He said such an approach falls outside the mandate of Section 301 and raises broader concerns regarding the use of trade policy to influence regulatory practices in other countries.The think tank further noted that concerns surrounding forced labour are often confined to specific products or sectors rather than entire economies. It argued that imposing country-wide tariffs may not be an appropriate response when targeted measures could address the underlying issue more effectively.Also read | CBDT tells tax officers to tighten scrutiny of unexplained income, assetsGTRI also viewed the proposed action in the context of ongoing trade negotiations between India and the United States, suggesting that the move could increase pressure on New Delhi as both countries work toward a bilateral trade agreement. It cautioned that India may face additional investigations under Section 301 in areas such as industrial overcapacity.The USTR initiated two separate Section 301 investigations in March this year covering 60 economies. One inquiry examined issues related to forced labour, while the second focused on concerns over excess manufacturing capacity.Following the conclusion of the forced labour investigation, the US has proposed additional duties on imports from 54 economies. Under the plan, imports from countries including Canada, Ecuador, Mexico, Indonesia, Pakistan and the European Union would face a 10% tariff. A higher duty of 12.5% has been proposed for 48 economies, including India and China.The proposal has not yet been finalised and is currently open for public consultation. Stakeholders have until June 22 to request participation in hearings and submit testimony summaries, while written submissions can be filed until July 6. Public hearings are scheduled for July 7.A final determination is expected in the coming weeks and could be announced before the expiry of the temporary Section 122 tariff measures on July 24. If approved, the additional duties may come into force shortly thereafter.The investigation does not allege the use of forced labour in India's export production. Instead, it examines whether India has adequate restrictions on imports sourced from third countries where forced labour concerns may arise.Inputs from PTI

IndiGo shares fall as airline halts Manchester flights amid soaring operational costs

Shares of InterGlobe Aviation, the operator of IndiGo, fell more than 1% to their day's low of Rs 4,425 on the BSE on Wednesday after it suspended flights to and from Manchester from August 31, as prolonged airspace restrictions and rising operational expenses continue to weigh on long-haul services.The airline said the temporary suspension will lead to the return of one of the six Boeing 787-9 Dreamliner aircraft leased from Norse Atlantic Airways, which were brought in to support its long-haul international expansion plans.In a statement issued on Tuesday, IndiGo said ongoing international airspace constraints have significantly increased flight durations, while a difficult cost environment has made operations on the route increasingly challenging. As a result, services between India and Manchester will be paused from August 31, 2026.The carrier had inducted six Boeing 787-9 Dreamliners on damp lease from Norse Atlantic Airways in early 2025 as part of its strategy to accelerate entry into European markets before the arrival of its own Airbus A350 aircraft. The Manchester service was among the first long-haul routes launched under this initiative.According to the airline, a combination of geopolitical tensions in the Middle East, elevated aviation turbine fuel (ATF) prices, severe airspace restrictions and currency volatility pushed operating costs well above original expectations.Abhijit Dasgupta, Senior Vice President for Network Planning and Revenue Management at IndiGo, said the route had received a strong response from passengers despite the operational difficulties."We inducted these wide-body aircraft on a short-term basis to fast-track our connectivity to high-potential long-haul destinations such as Manchester and witnessed very encouraging demand response," Dasgupta said."Unfortunately, longer flying times due to airspace constraints coupled with dramatically escalating costs compelled us to take the decision to temporarily discontinue our India-Manchester services," he added.The airline stressed that the suspension is only temporary and reaffirmed its commitment to growing its long-haul international network. Dasgupta said the positive customer response had strengthened IndiGo's confidence in the long-term viability of the Manchester route and its wider international expansion plans.IndiGo also said affected passengers will be notified in advance and assisted with alternative travel options or refunds, wherever applicable. The airline clarified that all of its other long-haul international services will continue to operate as scheduled.IndiGo Q4 snapshotIndia’s leading airline by market share reported a net loss of Rs 2,536 crore for the fourth quarter of FY26, compared with a net profit of Rs 3,067 crore in the corresponding period last year. Revenue from operations, however, edged up 1% year-on-year to Rs 22,438 crore.The airline said its operational performance during the quarter was affected by disruptions linked to the ongoing conflict in the Middle East. Capacity, measured in available seat kilometres (ASKs), increased 3.4% year-on-year to 43.6 billion. IndiGo shares have fallen 20% in the last six months and about 17% in the last 1 year. Sensex, Nifty today: Catch all the LIVE stock market action here (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

US govt appeals judge's order for tariff refunds

The Trump administration on Tuesday formally appealed a judge's order for refunds of the US president's global tariffs after they were struck down by the Supreme Court earlier this year.At stake is some $166 billion in revenue. A refunds system handled by US Customs and Border Protection (CBP) has already begun to process repayments.Last month, the CBP said in a court filing that it was on track to process about $85 billion in repayments, with $20.6 billion approved for disbursement.But the latest appeal could potentially impact this operation.After returning to the White House last year, President Donald Trump moved swiftly to impose sweeping tariffs on allies and competitors alike, tapping the International Emergency Economic Powers Act to target different countries with different rates.In February this year, the high court ruled that Trump had exceeded his authority in imposing these duties.A judge of the Court of International Trade has since ruled that refunds should take place, although giving room for the CBP to comply with the order.The agency estimated in March that more than 330,000 importers could be eligible for repayments.Hundreds of companies have sought to get their money back, including small businesses and major firms like delivery and freight giant FedEx and warehouse retailer Costco.Trump however has said that he would remember US companies that did not seek tariff refunds, signaling that he might view them more favorably.Since the Supreme Court ruling -- which did not affect Trump's sector-specific tariffs -- the US leader has tapped separate authorities to slap a new 10-percent tariff on imports.This is temporary, however, as US officials move to enact more lasting duties.

Iran US War News LIVE: Iran pauses peace talks over Lebanon attacks, Trump calls Netanyahu, secures temporary halt

Iran US War News LIVE: Follow Livemint for all updates on the peace talks between the United States and Iran as Israel and Lebanon halt hostilities following a Trump call to Netanyahu.

Casual labourers in government entitled to pension: SC

The Supreme Court has ruled that temporary casual laborers in government departments are entitled to pensionary benefits upon superannuation, even without job regularization. This landmark decision came after an 18-year legal battle by a widow whose husband served for three decades.

Fire at Mobis plant near Chennai disrupts Hyundai car production

“The company and Mobis teams are working closely to assess the situation and extent of damage to Mobis facility. This incident will result in temporary disruption to company’s production,” Hyundai said

NSE pre-IPO window to close soon. Can you still profit?

The long wait for the NSE public listing appears to be entering its final stretch. The exchange recently confirmed that it expects to file its draft red herring prospectus (DRHP) by the second week of June, putting the country's most anticipated IPO one step closer to reality.The update has once again sparked interest in NSE's unlisted shares, which continue to change hands actively in the private market. With the DRHP now less than two weeks away, investors may want to know does it still make sense to buy NSE shares before the IPO?The answer from analysts is nuanced. Most experts agree that NSE remains one of India's strongest financial franchises. However, they also caution that investors should not treat the approaching IPO as an automatic opportunity for quick gains.NSE currently trades in the unlisted market at around Rs 1,950-2,050 per share, implying a valuation of roughly Rs 5 lakh crore. That valuation already reflects significant optimism around the company's eventual listing."NSE is clearly one of India's strongest capital-market franchises and remains one of the most awaited IPO candidates. However, investors looking to buy unlisted shares purely because the DRHP filing is close should exercise caution," said Paresh Bhagat, CIO of Veer Growth Fund and chairman of Mangal Keshav."The business quality is not in question. The key risk is valuation and entry price." Bhagat noted that based on FY26 profit after tax of around Rs 10,300 crore, the exchange is already valued at nearly 48-50 times earnings.While NSE enjoys dominant market share, strong profitability and significant cash generation, he believes much of that strength is already reflected in current unlisted market prices. One of the biggest assumptions among investors is that buying shares before the IPO guarantees a profit once the company lists. Analysts say that assumption may not always hold true.The eventual IPO pricing remains unknown. In many large public offerings, companies deliberately leave room for public market investors by pricing the issue below prevailing unlisted market valuations.If that happens, investors entering NSE at current unlisted prices could face limited upside or even temporary mark-to-market losses. "The pre-IPO window should not be seen as a guaranteed arbitrage opportunity," Bhagat said. "If the IPO is priced more reasonably for public-market investors, the gap versus current unlisted prices could be meaningful."Others echo the same concern. "I would avoid buying NSE unlisted shares purely on the expectation of the upcoming DRHP filing," said Arpit Jain, Joint Managing Director at Arihant Capital Markets."While the filing could be an important milestone in the IPO journey, a significant portion of the optimism around the listing is already reflected in the current unlisted market price." Jain pointed to several high-profile IPOs in recent years where strong excitement before listing did not necessarily translate into exceptional post-listing returns.He said investors should focus on valuation, offer pricing, market conditions and the final IPO structure rather than rushing to buy shares simply because the DRHP is approaching.At the same time, few analysts dispute the quality of the underlying business. NSE remains India's largest stock exchange and dominates equity derivatives trading. The exchange reported total income of Rs 18,713 crore and consolidated net profit of Rs 10,302 crore in FY26.Its capital-light business model, strong cash flows and dominant market position have made it one of the most sought-after names in the unlisted market.According to Nitant Darekar, Research Analyst at Bonanza, NSE currently trades at around 45 times FY26 earnings, based on earnings per share of Rs 41.62. While that valuation is not cheap, it remains below some listed peers."NSE remains a capital-light near-monopoly," Darekar said. "At around Rs 1,950-2,170 in the unlisted market, it trades near 45x FY26 earnings. That's rich, but below BSE at around 70x and MCX at around 80x."Darekar added that the recent settlement of the long-running co-location case has removed a major overhang on the IPO process. However, he cautioned that the exchange's earnings remain linked to derivatives trading activity, which can be volatile, especially after regulatory changes in the futures and options segment.He also highlighted another practical consideration for investors. "The urgency is real. Post-DRHP, fresh unlisted purchases face a one-year lock-in. But valuation, not the calendar, should drive the decision."That point is particularly important because many retail investors view the narrowing pre-IPO window as a reason to buy immediately.Ishan Tanna, Senior Associate at Ashika Capital, said history suggests otherwise. "Historically, buying unlisted shares very close to the IPO stage has not always offered the best risk-reward for investors," he said."In many cases, the biggest gains are made when IPO visibility is low and uncertainty is high. Once the DRHP gets filed and listing draws closer, valuations often become expensive as the IPO excitement premium starts getting priced in."Tanna said NSE remains a rare financial infrastructure asset with strong profitability and a dominant position in Indian capital markets, making it attractive for long-term investors.However, investors chasing quick listing gains should recognise that late-stage entry into pre-IPO stories often carries greater risks than many assume.For now, the consensus among market experts is that NSE remains one of India's highest-quality businesses and its IPO will likely attract enormous investor interest. But with the stock already trading at elevated valuations in the unlisted market, investors may need to focus less on the countdown to the DRHP and more on whether the current price adequately compensates them for the risks ahead.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Siddaramaiah has set an example in contemporary politics by handing over power gracefully, says KPCC spokesperson