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Desert villagers in Rajasthan turn to traditional ingenuity to beat intense heat, water scarcity

Return, Decline, Or Pivot? The Three Things That Happen To BJP Exits—And Where Annamalai Fits

Ultimately, Annamalai’s future trajectory appears insulated from the traditional pitfalls of fading significance or a fragmented return

IndiGo Suspends Operations To 6 International Destinations

The decision has been taken in view of a traditionally softer demand.

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.

How FIFA is turning World Cup into an NBA, NFL-style made-for-TV event

The 2026 FIFA World Cup will feature mandatory three-minute hydration breaks midway through each half, effectively splitting matches into four quarters regardless of weather conditions. The change gives coaches extra tactical time and allows broadcasters to air commercials, adding over 10 hours of stoppage time across the tournament. While some coaches support the move, others fear it could disrupt football’s traditional flow and rhythm.

ENG vs NZ: Why England players are wearing black armbands at Lord’s

England players wore black armbands and observed a moment of silence before the first Test against New Zealand at Lord’s to honour former England cricketers who have died since the team’s last home international. The pre-match tributes also marked 10 years since New Zealand great Martin Crowe’s passing, with his daughter Emma ringing the traditional five-minute bell.

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.

Why traditional productivity metrics don’t work

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

Congress bets on D.K. Shivakumar with eye on 2028 polls, Vokkaliga vote and Old Mysore region

The party wants to build a political combination by wooing a chunk of Vokkaliga voters, besides the traditional AHINDA voters, by elevating D.K. Shivakumar

Shark Tank's Anupam Mittal says employees should be paid on the 15th and 30th. Here's why

Shark Tank India judge and Shaadi.com founder Anupam Mittal has sparked a debate on employee financial well-being after questioning India's traditional salary payout system.

Tamil Nadu CM Vijay only seen in suits: What is the hidden message behind it?

New CM Vijay ditched the traditional white shirt and veshti for black and white suits, gaining mixed reactions. Meet his thoughts, designer, hidden message and more behind the look.

Nvidia Turns Spotlight On AI PCs: What They Are And The Risks You May Face

Manufacturers say AI PCs can process data more swiftly. than traditional ones.

Sacred groves, living laws: How Khasi traditions quietly protect Meghalaya’s forests

Traditional institutions such as the Dorbar Shnong and the Hima continue to play central roles in enforcing community norms

India bans cross-border transportation of Ebola-infected human remains under strict new biosecurity rules

The Union health ministry's guidelines also mandate safe practices, including double packaging and cremation, while traditional rites are banned to avoid contamination.

Hormuz crisis fallout: How Indian refiners are adjusting to new crude oil mix to maximise output

The ongoing geopolitical turmoil has affected supplies from several key oil-producing regions that traditionally cater to India, requiring refiners to process crude varieties that were not part of their usual feedstock mix.

Rashmika Mandanna documents Japan trip with Vijay Deverakonda in loved-up social media dump

Newlyweds Rashmika Mandanna and Vijay Deverakonda are enjoying married life, recently sharing glimpses of their Japan trip. Mandanna posted photos from their getaway, featuring her in traditional attire and exploring local sights. The couple, who married in Udaipur, also sparked fan attention with a subtle detail on Deverakonda's jewelry. Their next film together, 'Ranabaali', is set for release.

Thiruvilwamala palm leaf records throw new light on Kerala history

The palm leaf documents, preserved as Granthavaris, had remained largely unread in recent memory and were traditionally brought out only for occasional ritual purposes

India-Oman trade deal goes live June 1

The Comprehensive Economic Partnership Agreement (CEPA) between India and Oman is set to come into force on June 1, marking a significant milestone in bilateral economic relations. Both nations will formally announce the decision on Monday.This marks the fifth free trade agreement (FTA) implemented under the Modi government since 2014. It follows trade pacts rolled out with Mauritius (April 2021), the UAE (May 2022), Australia (December 2022), and the European Free Trade Association (EFTA—comprising Switzerland, Iceland, Liechtenstein, and Norway in October 2025). India has also signed deals with the UK (July 2025) and New Zealand (April 2026), alongside concluding trade talks with the 27-nation European Union (EU) on January 27 this year.CEPA vs FTAModern trade pacts typically span around 20 chapters. These encompass comprehensive regulations across trade in goods, trade in services, investment, intellectual property rights, customs procedures, and dispute settlement mechanisms.Similar bilateral frameworks are also designated as Comprehensive Economic Cooperation Agreements (CECA), Comprehensive Economic Trade Agreements (CETA), or Economic Cooperation and Trade Agreements (ECTA).Also read: India-Oman CEPA to strengthen energy security, trade resilience and export growthIndia-Oman tradeBilateral trade between the two nations reached USD 11.18 billion during 2025-26, up from USD 10.61 billion in 2024-25. India’s exports stood at USD 4.02 billion, while imports from Oman were valued at USD 7.16 billion.In the services domain, India's exports to Oman expanded from USD 397 million in 2020 to USD 665 million in 2024, driven primarily by telecommunications, computer and information, transport, and travel sectors. Conversely, services imports from Oman grew from USD 101 million to USD 197.7 million over the same period, led by transport, travel, telecom, and other business services.What does India gain? The deal unlocks 100% duty-free market access for Indian exports to Oman, covering 98.08% of Oman’s tariff lines, which represents 99.38% of the trade value (based on the 2022-23 average).Immediate Concessions: All zero-duty access comes into effect from "Day One" of the agreement. Currently, only 15.33% of India’s export value (11.34% of tariff lines) enters Oman duty-free under the Most Favoured Nation (MFN) regime.Price Competitiveness: The pact eliminates the current 5% import duty on Indian goods worth USD 3.64 billion.Growth Drivers: Key sectors poised for immediate advantages include textiles, agricultural products, transport equipment, precision instruments, processed food, and gems & jewellery.New Horizons: The agreement unlocks fresh export windows for Indian minerals, chemicals, base metals, machinery, plastic, rubber, automobiles, clocks, instruments, glass, ceramics, marble, and paper.India-Oman CEPA: Key sectoral gainsOman will grant immediate zero-duty access to crucial Indian industrial segments, including:Iron and steelElectrical and industrial machineryMarine products and copper goodsFurthermore, the removal of the 5% tariff is set to directly bolster the competitiveness of Indian vehicles in the Omani market, while securing binding zero-duty access for key finished medicines and vaccines.India protects sensitive sectorsTo insulate local industries and farming communities, India has placed 2,789 tariff lines on its exclusion list.Excluded Categories: Key domestic sectors shielded from tariff concessions include transport equipment, major chemicals, cereals, fruits, vegetables, spices, coffee, tea, and products of animal origin.Manufacturing Safeguards: High-value manufacturing chains including rubber, leather, textiles, footwear, petroleum oils, and mineral-based products remain protected.Agricultural Shielding: Strategic segments such as dairy products, meat, oilseeds, vegetable oils, sugar, and food-processing residues are entirely kept out of the liberalisation purview.Service sector stands to gainWith Oman’s total global services imports standing at USD 12.52 billion in 2024, India’s current share of 5.31% presents significant room for expansion.Oman has made robust commitments regarding the temporary entry and stay of Indian service professionals. Notably, the Intra-Corporate Transferees (ICT) ceiling has been raised from 20% to 50%, allowing Indian firms to deploy a higher volume of managerial and specialist personnel.Additionally, for the first time in any FTA, Oman has locked in specific commitments for professional service providers, benefitting Indian talent in IT, accounting, engineering, medical, education, construction, and consulting fields.Gains for India's agri sectorIndian agricultural exports such as natural honey, potatoes, cashews, boneless meat, and bakery items will secure immediate duty-free entry into Oman.Oman has agreed to dismantle tariffs—which currently range from 5% to 100%—on an array of items. These include cheese, curd, milk, cream, frozen fish, butter, meat, yoghurt, pastries, cakes, chocolate, sugar confectionery, mineral water, alongside animal and vegetable fats and oils.In return, Indian consumers will benefit from cheaper imports of Omani dates, with India granting zero-duty access for up to 2,000 tonnes of the commodity annually. New Delhi is also extending tariff concessions to Oman’s traditional products: Gum Arabica (utilised in food, pharmaceuticals, and cosmetics) and Frankincense (utilised in the incense and perfume sectors).Oman to benefit from tariff concessionsIndia is extending tariff concessions across 77.79% of its total tariff lines (equivalent to 12,556 lines), which encapsulates 94.81% of India’s total imports from Oman by value.For items that hold significant export value for Oman but remain sensitive for domestic industries in India—such as dates, marbles, and specific petrochemical products—liberalisation will be managed via a controlled Tariff-Rate Quota (TRQ) mechanism.India strengthening presence in Middle EastThe Oman CEPA serves as another pillar in India's deepening trade ties with the Gulf Cooperation Council (GCC), following its May 2022 pact with the UAE. New Delhi is set to commence trade talks with Qatar soon, and has already inked terms of reference (TOR) to initiate broader trade pact negotiations with the entire GCC bloc (comprising Saudi Arabia, UAE, Qatar, Kuwait, Oman, and Bahrain).Despite its size, Oman commands vast geopolitical importance as it borders the Strait of Hormuz, a critical maritime chokepoint heavily relied upon by Asian enterprises for oil trade. The nation serves as a strategic gateway for Indian goods and services into the broader Middle Eastern and African markets.Currently, nearly 7 lakh Indian nationals reside in Oman, sending home approximately USD 2 billion in annual remittances. Over 6,000 Indian establishments operate within Oman, and India has clocked USD 615.54 million in foreign direct investment (FDI) from Oman between April 2000 and September 2025. Notably, this CEPA is the first bilateral trade pact Oman has signed with any nation since its agreement with the United States in 2006, cementing its position as India’s third-largest export market within the GCC.