17 C 
Oil prices hit two-month low after U.S. Democratic win
Brent crude futures dropped 1% to $93.5 per barrel, after an 8.7% slide in the previous session
Mita Vashisht recalled how Shah Rukh Khan saved her from a potentially fatal fall while shooting Dil Se in Dalhousie. The actress revealed that she nearly fell off a steep ridge because of slippery footwear, but Shah Rukh grabbed her jacket and pulled her back. She also remembered his warmth and protective nature.
India has a huge fireworks industry, then why does it exports so little?
India's fireworks industry is worth an estimated 7,000 crore, yet exports remain below $1 million, or just 0.042 per cent of the global export market
Not raj kachori but raj katori: Mumbai nutritionist shares high-protein recipe for Diwali
During Diwali, raj kachori takes centre stage as a beloved snack for chaat enthusiasts. Mumbai nutritionist Vanshika Khurana and Bengaluru food influencer Shreya Agarwala have ingeniously reinvented this traditional dish into a healthier alternative. By utilising roasted papad shaped into delightful bowls filled with nutritious ingredients like sweet potato and sprouts, topped with chutneys, Skyr, and pomegranate, they keep the festive spirit alive in a wholesome way.
Israeli President Isaac Herzog has accepted the election results and started consultations with party leaders. Netanyahu's bloc lost its majority in the Knesset, while Arab-led parties made significant gains. The elections commission reported no evidence of fraud, despite Netanyahu's allegations. Herzog emphasized the importance of public trust in the electoral process during his consultations. If coalition talks fail, Israel may face another election in the near future.
Disney's Pixar names Jonathan Garson president as Jim Morris steps back
Jonathan Garson will assume the role of president at Pixar Animation Studios on January 4. He will replace Jim Morris, who has served as president for 12 years. Morris will remain involved with upcoming projects in a different capacity after stepping back. Garson has been with Pixar since 2010 and has extensive experience with Disney. Pixar's upcoming films include 'Gatto' and 'Incredibles 3', scheduled for release in 2027 and 2028.
Pentagon chief tech officer says US will detail laws that apply to AI labs this month
The US federal government is preparing to reveal the regulations applicable to domestic AI labs. Pentagon Chief Technology Officer Emil Michael announced that details will be shared in a couple of weeks. The Super Intelligence Task Force was established to regulate AI policy following concerns about industry practices. Michael emphasized the importance of creating a regulatory framework that builds public confidence.
Breaking News Live Updates: Delhi's Nauroji Nagar Ring Road records AQI of 416, air quality 'severe'
Gujarat and Punjab announced a 3% DA hike for state government employees and pensioners on 4 November 2026. Check the revised rates, arrears and when employees and pensioners will receive the increased amount.
What the midterms mean for US-China ties
Beijing: A sweeping victory for Democrats in US midterm elections this week, giving them control of Congress, presents both an opportunity and challenge for top rival China, analysts say.Here is how the outcome of the vote, which offers the Democratic Party the power to stymie President Donald Trump's maverick foreign policy, could impact the thorny relationship between Washington and Beijing:Will tariffs be limited? Winning control of both houses in the US Congress puts Democrats in a position to limit Trump's liberal use of tariffs on Chinese products in the two years he has left in office, analysts say.That could be a potential blow to Trump, who has wielded duties throughout a frenzied US-China trade war before the two sides reached a truce, set to expire in January.If Democrats limit Trump, that means he will be less able to leverage a tariff card in negotiations with China, said Wu Xinbo, dean at the Institute of International Studies at Fudan University in Shanghai.However, Democrats will also have to weigh their actions against the popularity of Trump's tariffs among US businesses.Congress will ake every opportunity to thwart (Trump's policies) over the next two years, said Drew Thompson, a senior fellow at the S. Rajaratnam School of International Studies at Singapore's Nanyang Technological University.But Democrats will still have to tread carefully on further restricting tariffs that are popular with unions, blue-collar workers and small businesses... who have historically been a base constituency for the Democrats, Thompson said.Congress will be less inclined to support measures that would sharply escalate pressure on China if doing so risks raising costs for American consumers and businesses or increasing the likelihood of conflict, said Patricia Kim, a foreign policy fellow at the Brookings Institution in Washington.Taiwan a 'game changer'? The issue of Taiwan, the US-backed democratic island claimed by Beijing, could be a game changer, said Neil Shearing, group chief economist at Capital Economics.Washington is Taipei's most important security backer and has sold billions of dollars' worth of arms to Taiwan that the island would use to fend off a potential Chinese attack.But Trump threw the US stance into question in May when he declared that US arms sales to Taiwan could be a bargaining chip in talks with China. His administration has since delayed for months a $14-billion batch of weapons.China could use the remaining two years of Trump's presidency to increase pressure on Taiwan, particularly if Beijing judges that Washington is distracted or that Trump would be willing to agree terms to not intervene, Shearing wrote in a note.Trump, who recently hailed his great friendship with China's President Xi Jinping, has so far resisted political pressure from Democrats -- and some Republican lawmakers -- to greenlight the arms package.But a Democrat-controlled Congress may force Trump to resume arms sales to Taiwan next year, Wu said.If that happens, that will also undermine the stability of US-China relationship.Alternatively, for China, renewed support of Taipei from the US Congress may be a stronger incentive for (Beijing) to play it safer with Taiwan, said Steve Tsang, director of the SOAS China Institute.Nevertheless, Thompson pointed out, while Congress can pass bills requiring Trump to approve an arms sale, the president retains the power to veto it or simply ignore it.Will Beijing treat Trump as a lame duck? From China's perspective, even though Trump has been politically weakened by the midterms, Beijing is unlikely to change its strategy towards working with him, analysts say.Beijing is likely to continue cultivating him through high-profile, leader-to-leader engagement with Xi Jinping, viewing this as the least costly way to manage relations with Washington, said Kim.Neither Beijing nor Washington appears to expect or seek a fundamental improvement in bilateral relations, she added.Tsang of the SOAS China Institute said Trump being relegated to lame-duck status will be used by the Chinese to put more pressure on him.But, he added, Beijing is calculating and would not want to push too hard and trigger Trump behaving totally irresponsibly.
Lockheed to pay millions over white workers bias
EAM Jaishankar discusses economic partnership, CETA with UKs Burnham on CHOGM sidelines
S Jaishankar met UK Prime Minister Andy Burnham in Antigua and Barbuda for CHOGM 2026 discussions. They focused on strengthening economic partnerships under the Comprehensive Economic and Trade Agreement. Jaishankar emphasized the importance of digital solutions and climate initiatives during a Commonwealth meeting. He highlighted local distribution networks and the role of the Indian business community in fostering connections.
Top tech and startup stories to start your day with
US sanctions India-based couple, companies over alleged support for Iran's Shadow oil fleet
The United States imposed sanctions on Suniel Kumar Sharma and Jaspreet Preeti Shahid for aiding Iran's shadow fleet. Their network allegedly provided fraudulent maritime registrations to help sanctioned vessels transport Iranian petroleum. Several companies linked to the couple also received sanctions under Executive Order 13902. Additionally, a Turkiye-based company was sanctioned for providing services to US-designated Iranian airlines.
GPU: Entry norms eased, but price pain remains
Midterm results may slow US visa curbs
India proposes immediate suspension of drug manufacturing licences over quality failures
The proposed changes seek to prevent substandard medicines from remaining in circulation while manufacturers address quality failures and regulatory concerns
Republican fortunes go south as script flips
FMCG growth slows, big firms beat the market
India may get an advantage trade deal over Trump
U.S. midterm elections: An economy under pressure, political shift and the road ahead
Despite robust economic growth, a buoyant stock market and relatively low unemployment, rising living costs have emerged as a major political challenge for the Trump administration
Govt mulls to mandate 1% green jet fuel blending
Govt plans instant ban on manufacturing of drugs failing key quality tests
Pharma companies could have their drug licenses suspended immediately if quality tests indicate failure. The health ministry's proposed changes aim to protect public health by enforcing swift action on substandard medications. Regulators would take action upon receiving a government analyst's report declaring a drug not of standard quality. Manufacturers would need to perform a root cause analysis and implement corrective actions to lift the suspension.
MIAL to shift 14 int'l flights to Navi Mumbai
Mercedes plans bigger India play with greater localisation of parts
Mercedes-Benz plans to increase its local manufacturing efforts while expanding its supplier base in India. The luxury carmaker expects to achieve record annual sales if the current trend continues. Ola Kallenius, the global chairman, highlighted the potential for Indian suppliers to support global operations. The company has committed an additional investment of 200 crore, raising total investments to 3,200 crore.
Democrats achieved significant victories in the midterm elections, resulting in control of both Congressional chambers. Many seats were flipped across previously Republican strongholds with stark voter dissatisfaction influencing results. Notably, Trump-backed candidates faced substantial defeats in multiple states like South Carolina and North Carolina. The outcomes revealed limitations in Trump's political influence and a shift toward Democratic representation.
Big factories dominate India's manufacturing output, Annual Survey of Industries shows
India's manufacturing sector is characterized by a significant concentration in large factories generating substantial output. Factories producing over 500 crore contribute to more than three-fifths of total value added. Smaller factories represent a large number but have minimal output and value contribution. The overall manufacturing corporate sector experienced a notable growth in gross value added year-on-year. However, per-worker value creation did not witness similar growth despite increased employment.
Battery part makers may get up to 50% subsidy
Cabinet approves VGF plan for grid-scale energy storage with Rs 14,500 crore support
The Union Cabinet has approved a significant 14,500 crore funding scheme to develop 92 GWh of energy storage capacity. This initiative supports both hydro pumped storage and battery energy storage systems aimed at accelerating renewable energy. Additionally, a scheme has been approved for processing critical minerals like lithium and nickel to reduce import dependency. The government aims to modernize its statistical system with a 4,371.10 crore scheme.
Trump's ambitions put India's diplomacy to test
New orders & robust demand lift India's October services growth to 4-month high
Growth in India's services sector increased to a four-month high in October due to strong domestic demand and business orders. The HSBC Services Business Activity Index rose to 55.8, reflecting improved business conditions. Conversely, manufacturing activity showed a slight decline, easing to a PMI of 54.7. While input prices continued to rise, the rate of increase was the slowest in over six years.
Ranbir Kapoor has revealed that his three-and-a-half-year-old daughter Raha has shot a scene with Sai Pallavi and Ravie Dubey for his new film Ramayana. The actor spoke about how Raha developed an interest in the epic through stories narrated by him and Alia Bhatt. His revelation comes as the film receives encouraging early reviews, with people calling it 'highly enjoyable' and praising its scale and storytelling.
US slaps sanctions on Indian, Turkish firms and people for aiding Iran
The sanctions are part of the Trump administration's Operation Economic Outcast, which aims to cut off Iran's ability to sell oil to fund the war with the United States.
Despite gains since October, rupee still trails its Asian peers in 2026
Rupee gains 1.25% since October after RBI curbs speculative bets, but remains down over 5% against the dollar in 2026
Over half of street vendors may cut UPI acceptance if 0.4% MDR is introduced: ISB study
More than 67% of street vendors in India currently accept UPI payments for transactions. A proposed 0.4% merchant discount rate could lead to reduced acceptance among vendors. Concerns arise particularly for vendor-supplier transactions, as many vendors make payments above 2,000. A significant portion of vendors faced additional charges from suppliers and might pass costs onto customers.
TRAI's new Network Anubhav platform to map real-world network speeds, call quality
The Telecom Regulatory Authority of India recently introduced the Network Anubhav Platform for consumers. This new platform allows users to compare mobile and broadband networks based on location and performance. Consumers can view network tests, filter results, and make informed choices about service providers.
I4C warns banks, NBFCs of AI-powered hacks
Cert-In Issues Alert On AI-Driven Cyber Attacks Against BFSI
India's cybersecurity agency, Cert-In, has issued a high-alert advisory to banking and financial services institutions regarding an ongoing AI-assisted cyber campaign named Crafty Falcon. This sophisticated threat actor uses publicly available AI tools to execute autonomous attacks at machine speed, targeting payment and disbursement APIs for unauthorised fund transfers. The advisory urges BFSI entities to maintain heightened vigilance, especially during low-monitoring windows, as attacks continue despite previous remediation efforts.
Income tax: Can a widow be taxed on 60 lakh gifted by her late husband? ITAT ruling offers clarity
A widow won a 60 lakh income tax dispute after ITAT Pune accepted her explanation that the cash deposited in her bank account was gifted by her late husband for her and their two daughters. The tribunal ordered deletion of the entire tax addition.
Rachael Reed and Charmi Fehr met at a hostel in Peru in 2019, fell in love and eventually built a life together on Honduras' island of Roatn, where they opened a boutique hotel in 2023. The couple, who shared a passion for travel and adventure, were among nine people killed in a Florida Learjet crash while travelling to the Bahamas. Their journey from a chance meeting to building a Caribbean hospitality business has been remembered by friends, family and hotel staff.
Indias Defence Accounts Department is running a month-long campaign to help defence pensioners submit digital life certificates through more than 200 SPARSH centres. The initiative promotes Aadhaar-based face authentication, with extra assistance for people over 80 and persons with disabilities.
UK Officials Said AI Would Add 400 Billion to the Economy. That Figure Mainly Came From Google
The AI minister now concedes the estimated figure is less than a third of that. Researchers blame the countrys slow rate of adoption UK Officials Said AI Would Add 400 Billion to the Economy. That Figure Mainly Came From Google
Nirmala Sitharaman releases Rs 250 commemorative coin; check price, features and availability
It is important to note that the Rs 250 denomination does not mean the coin can be used as a regular Rs 250 currency coin. Its purchase price is higher because of its precious-metal content and commemorative value.
Trump is still President: White House hits back
Sirolimus-coated balloon shows 8-percentage-point advantage in three-year peripheral artery trial
Patients treated with sirolimus-coated balloons were more likely to remain free from repeat procedures to reopen blocked leg arteries than those receiving paclitaxel-coated balloons, according to three-year results from the SIRONA clinical trial presented at TCT 2026. While both treatments showed similar improvements in walking ability and quality of life, researchers said the findings require confirmation through five-year follow-up.
US to loan about a third of heating oil reserve in bid to tame prices
The US Energy Department will loan 300,000 barrels of fuel oil from its emergency heating reserve to four companies to ease supply pressures and rising prices ahead of winter. The release, nearly a third of the reserve, follows calls from bipartisan senators as Middle East disruptions linked to the Iran war push fuel costs higher.
World leaders who sparred with Trump express relief mixed with caution at Republican election rout
World leaders welcomed the Democrats' gains in the US midterm elections, hoping the setback for Donald Trump's Republicans could ease tensions over Washington's foreign policy. However, European and other allies cautioned that the results may not change Trump's approach to Iran, Ukraine, tariffs or NATO, as the president retains considerable freedom in foreign affairs.
The civil aviation ministry has circulated the draft National Policy on Sustainable Aviation Fuels which mandates use of only indigenously manufactured SAF to be blended with Aviation Turbine Fuel (ATF).
UPI MDR: The Hidden Costs And Benefits Of Free Transactions
An Indian School of Business professor highlights the lack of precise data on losses from free UPI transactions, arguing that the benefits, such as user data generation, are often overlooked in the debate over implementing a Merchant Discount Rate (MDR). A recent ISB survey suggests that charging MDR could lead street vendors to revert to cash, despite the government's allowance for MDR on transactions above Rs 2,000 and NPCI's deferral of its implementation.
Centre earmarks 2,814 crore to boost lithium, nickel processing
In a social media post, Union Coal and Mines Minister G. Kishan Reddy stated the scheme would help strengthen domestic capabilities, boost manufacturing and reduce dependence on imports.
A 1 lakh investment in silver three years ago would be worth nearly 2.49 lakh today, against 2.25 lakh in gold. Silver leads over one and three years, while gold edges ahead over five years, based on IBJA rates.
Varanasi ropeway to slash 45-min journey to 15
Triveni reassessing sugarcane outlook in Uttar Pradesh after unseasonal heavy rain
The companys sugar inventory as on September 30, 2026 was 1.03 lakhs tonnes (lt), which is valued at 38.6/kg, as compared with 1.69 lt valued at 37.4/kg year-ago
Correction? AI stocks tumble post midterms
US stock market update: Dow Jones rallies today after Democrats win Congress - Democrats have won both the Senate and the House, and the stock market liked it. By 10:44 am ET on Wednesday, the Dow Jones was up 1,245 points, or 2.40%, at 53,032. The S&P 500 rose 1.52% and the Nasdaq gained 1.82%. But not every stock joined in. Data centre companies, Tesla and SpaceX fell. Democrats made gains in Texas and Georgia, where public opposition to new data centres is growing, and investors fear tighter rules could slow the AI boom.Democrat Gina Hinojosa defeated Governor Greg Abbott after promising an immediate pause on new data centre projects until lawmakers introduce stronger safeguards. The result added to pressure on AI infrastructure stocks, with CoreWeave falling 7%.The concern is significant because Texas accounts for an estimated 27% of planned US data centre capacity, according to Wells Fargo.Will a Democratic Congress slow the AI boom? Why data center stocks fell as the Dow gained 1,100 points The Dow Jones Industrial Average rose 2.13% to 52,889.71, gaining 1,102.99 points. The S&P 500 climbed 1.49% to 7,681.76, while the Nasdaq Composite advanced 1.97% to 25,871.41.ALSO READ: US stock market stages big rally today: Why is Dow Jones surging? Dow jumps 1,100 points as S&P 500 and Nasdaq turn green, with healthcare stocks at the centreWith Republicans losing control of both chambers of Congress, President Donald Trump's administration could face greater difficulty passing major policy changes.Investors also saw the election outcome as a way to reduce uncertainty. Markets had been watching closely for the results because changes in Congress could affect tariffs, government spending, energy policy and regulations.Scott Chornert, head of US equity strategy at Citi Research, described the election as a clearing event, suggesting that investors could now move beyond the uncertainty surrounding the vote.Amazon was among the strongest performers in the technology sector. Its shares gained around 7.1%, while Alphabet rose 3.4% and Meta Platforms added 1.6%.Other major technology stocks also moved higher. Apple and Microsoft gained nearly 6% in morning trading, according to market reports.McDonald's also climbed around 3.9% after reporting quarterly profits above market expectations. Amgen gained about 3% following its results.Block shares jumped 15% after the payments company raised its full-year gross profit outlook.Tesla and SpaceX sharesElon Musk's companies moved in the opposite direction. SpaceX shares fell around 1.9% to $138.91 in the supplied market data, while Tesla declined nearly 4% in morning trading.Musk had spent heavily backing Republican candidates during the election campaign. The Democratic victories could bring greater scrutiny of some of his business interests, particularly government contracts, artificial intelligence and the proposed merger between Tesla and SpaceX.AI and data centre stocks face fresh pressureThe election results also brought attention to the future of the US artificial intelligence industry.Democrats made gains in states such as Texas and Georgia, where local opposition to the rapid expansion of data centres has been growing.Data centres require large amounts of electricity, land and water. Their expansion has raised concerns about power costs, local infrastructure and the impact on nearby communities.Investors are now considering whether tighter rules could delay new projects and affect companies supplying equipment and computing services.Shares of data centre operators, including IREN, Hut 8, Applied Digital and Core Scientific, fell between 1.2% and 13%.Nvidia shares slipped 0.41% in the supplied market snapshot, while AMD gained around 4.8% after issuing a stronger growth outlook for 2027.Solar stocks rise while defence shares fallClean energy companies were among the biggest beneficiaries of the election outcome.The Invesco Solar ETF jumped 8.3% as investors considered the possibility that federal support for solar and other clean energy projects would remain in place.Defence stocks moved lower. Northrop Grumman and Lockheed Martin each lost more than 4% in morning trading.The change followed concerns that a Democratic-controlled Congress could make it harder for Trump to secure approval for his proposed $1.5 trillion defence budget.Palantir also fell around 1% amid concerns about its exposure to government and defence contracts.Oil falls while gold and cryptocurrencies move higherWTI crude oil fell 2.31% to $93.87 a barrel, while Brent crude declined 2.27% to $101.25. Investors were watching developments surrounding the US-Israeli war on Iran and its possible impact on oil supplies and inflation.Gold futures rose 2.53% to $4,040.10 an ounce. Silver gained 4.40% to $51.94.Cryptocurrencies also moved higher. Bitcoin rose 3.69% to $80,500.84, while Ether gained 6.68% to $2,433.23. XRP advanced 3.01% to $1.32.The US 10-year Treasury yield also moved lower, falling to 4.93% from 4.97% in the previous session.
Rythu Bharosa SMS to 2.73 lakh farmers sparks call for cybercrime probe
Stating that the messages, received by farmers in some districts, were unauthorised, Director of Agriculture B Gopi has asked the Cyber Crime Wing of the Telangana Police to investigate the matter
Madonna revealed why she refused to give her youngest son David a mobile phone at 13 after regretting the decision with her older children, Lourdes and Rocco. In a 2019 Vogue interview, the singer said smartphones and social media affected her relationship with them, exposing them to constant images and comparisons with others. Here's what she said about her parenting decision and how technology changed her relationship with her children.
Biocon Q2 net profit down 57% to Rs 56.7 cr; biosimilars to boost H2
Biocon Ltd reported a 57.3 per cent decline in consolidated net profit to Rs 56.7 crore for the September quarter of FY27, primarily due to a USD 20 million revenue recognition delay caused by geopolitical troubles, which is now expected to be booked in the third quarter.
'Chernobyl-like' AI blackout warning
Govt gets $400 billion in renewable energy investment commitments: Joshi
Union Minister Pralhad Joshi said the government had secured $400 billion in long-term investment commitments and was targeting another 21 lakh crore in renewable energy investment by 2030
Cyber Security Alert: AI Agents Target Indian Financial Sector
India's central cyber security agency, I4C, has issued a critical warning to banks, NBFCs, and fintech firms regarding a surge in financially motivated cyberattacks leveraging artificial intelligence agents. These AI-driven attacks enable hackers to compromise systems and execute fraudulent transactions at machine speed, making investigations complex due to record deletion. The advisory, issued in collaboration with CERT-In, urges financial institutions to implement robust security measures, align with CERT-In's blueprint, and report incidents promptly to mitigate the escalating threat.
CEOs commit $400 billion on Indias clean energy push: Pralhad Joshi
Govt will examine investment proposals, says Minister
US Midterm Elections: Investor Focus Shifts to West Asia, Global Trade
Analysts predict that the US midterm election results, which saw Democrats gain control of Congress, will primarily influence Indian markets through changes in global financial conditions, trade policy expectations, and geopolitical developments, with a keen focus on the US administration's actions in West Asia and their potential impact on crude oil prices.
NPS subscribers could benefit from greater exposure to AIFs, REITs and InvITs as pension funds explore alternative investments. SBI Pension Funds MD & CEO Pranay Ranjan Dwivedi explains the potential returns, suggested allocation and risks.
Cabinet clears 4,371-crore VISTAR scheme to revamp India's statistics
The five-year VISTAR scheme will fund 59 surveys, the 8th Economic Census and AI-driven statistical reforms, while strengthening state-level data systems and GDP estimates.
International airlines currently operating from Mumbai airport are given options to temporarily suspend operations or relocate. Discussions are ongoing with various international carriers regarding this transition. Indian airlines such as IndiGo and Air India have agreed to shift certain operations.
FarMart expands Project EverGrain to Madhya Pradesh
The training covered climate-smart agricultural practices, including climate-resilient crop choices, crop disease management, and balanced nutrient application based on soil test reports
FarMart expands Project EverGrain to Madhya Pradesh
The training covered climate-smart agricultural practices, including climate-resilient crop choices, crop disease management, and balanced nutrient application based on soil test reports
Iranian lawmaker says Indian ships exempt from Hormuz curbs but Delhi has no clue
No formal communication received from Tehran; procedures for Indian vessels unchanged, say sources
Trade body sees Indias 2026-27 cotton output shrink 14% on dip in area, drought
Consumption seen flat at 365 lakh bales, while exports and imports are projected to decline over last year
Eight Aries Agro leaders complete Next-Gen Leaders Programme at IIM-A
The programme brought together industry participants to exchange perspectives, understand emerging business challenges and explore contemporary approaches to management and leadership
HDFC Bank to offer deposits under Capital Gains Accounts Scheme
HDFC Bank has received government authorisation to offer deposits under the Capital Gains Accounts Scheme (CGAS), 1988. The facility will allow taxpayers to park unused capital gains in savings accounts or fixed deposits for up to three years while retaining eligibility for applicable tax exemptions and earning interest on their deposits.
Mumbai airport plans to shift all flights on 14 international routes to Navi Mumbai
MIALs proposal faces resistance from foreign airlines over connectivity, competition and unilateral capacity cuts
Piyush Goyal sets March 2027 deadline for digitisation of DGFT services, aims to end physical visits
Commerce Minister Piyush Goyal has set March 31, 2027, as the deadline for complete digitisation of DGFT services, including licence, permit and SCOMET approvals. From April 1, businesses will no longer need physical visits to government offices for these services. The move also includes digitising historical records and simplifying procedures.
Nitin Gadkari flags Indian highways, expressways still lack perfect signage
Nitin Gadkari highlighted the need for better project preparation and accountability in urban road development initiatives. He expressed concern over the lack of proper signage on Indian highways and its role in accidents. Gadkari mentioned nearly 5 lakh road accidents each year, causing 1.8 lakh deaths in India. He proposed that urban planning requires integrated approaches among various transport agencies to optimize public resources.
Biocon forecasts stronger second half of FY27 with multiple growth drivers despite Q2 profit decline
Biocon anticipates a robust second half of FY27, supported by several key product launches and increasing insulin sales. The company noted a 52% decline in consolidated net profit, attributed to delayed shipments affecting quarterly revenue. Ustekinumab and Aflibercept biosimilars are projected to boost sales in the US market significantly. Additionally, the launch of Pertuzumab in Europe and Brazil is expected to generate substantial revenue.
Trump's Midterm Loss May Expedite India Trade Deal
Experts suggest that a significant setback for US President Donald Trump in the midterm elections could compel him to pursue a swift trade agreement with India, as he seeks a quick foreign policy win amidst challenges with Russia, China, and Iran.
Aswath Damodaran trims his Anthropic IPO valuation to $1.45 trillion; Dean of valuation explains why
Valuation expert Aswath Damodaran trimmed his valuation estimate for AI giant Anthropic to $1.45 trillion, from his earlier estimate of $1.475 trillion which was already lower than the industry estimates of $2 trillion.The 'Dean of Valuation' in a long blogpost said his earlier valuation estimate which was lower than the overall market view received strong reactions. Some of them were solely based on emotion, he said, as they held strong conviction in the company. Some of it was based on cost of capital, which the analyst believes reflects a fundamental disconnect with market history, current market pricing and basic business sense.Also read | Dean of valuation Aswath Damodaran pegs Anthropic's worth at $1.475 trillion ahead of mega IPOHis latest $1.45 trillion valuation accounts for the trailing 12-month revenue and operating income numbers to include the just-leaked third quarter numbers. The equity value that I obtain for Anthropic is close to the lower end of the offering price estimates, but as I noted at the time that I posted it, and will reinforce again now, it is a function of not just my upbeat story about the company, but also one about how the AI products and services market will evolve over time, he wrote.Aswath Damodarans worries for AnthropicDamodaran estimates Anthropics target revenues will reach a trillion dollars in ten years. Not only would this put them at or close to the top of all companies, in terms of total annual revenues, but they will also be sharing that grouping with companies like Amazon and Walmart that deliver on scale, but at the expense of margins, he said, adding that Anthropic emerges as a winner in the premium portion of the AI market, capturing a dominant market share, with pricing power.In his previous post valuing Anthropic, Damodaran had raised the alarm over the companys governance structure, stating that its structure as a public benefit corporation and a voting share concoction that leaves founders in control, no matter how much capital the company raises in equity markets. He said he received feedback that this may not be a negative as these are smart people who know AI better than the rest. The analyst is however not convinced as he believes concentration of power in the hands of founders is a bad idea.Also read | Aswath Damodaran explains why country risk is no longer just an emerging market problemWhile much of the focus on Anthropic has been on their compute commitments, disclosed (loosely) in their prospectus, my valuation of Anthropic is driven by expectations of what those commitments will look like over time, and especially if my growth story for the company comes into fruition. Delivering a trillion dollars of revenues will require Anthropic to not just maintain and replenish the compute power that it has already locked down, but add to that power over time, Damodaran said, warning that building new data centers is getting more difficult, as local communities push back, and politicians realize that opposing them is a net vote winnerRegulatory risks are also one of the key worries for Anthropic. Put simply, Anthropic will become riskier, if revenues do not measure up to expectations and the pathway to profitability becomes rockier, making it more an output than an input variable, the valuation expert said.How investors should react to Anthropics IPO?While Damodaran remains cautious about Anthropics IPO, he noted that uncertainty is a feature of investing, no matter what one invests in, with the differences across investments lying in how much uncertainty one face, rather than whether she faces.Also read | AI boom heading for a dot-com-style bust? Dean of Valuation Aswath Damodaran warns correction could be more painful than 2008He listed out four responses to such uncertainties.1) Ignore it: Damodaran pointed out that there are investors who are capable of ignoring uncertainty and going in fully even on the most uncertain investments. They are able to do so because they are far less risk averse than the rest and are willing to live with the consequences of investments (and their portfolios) blowing up. They are more gamblers than investors, but with good instincts and timing, gamblers can get wealthy too, he said.2) Avoid it: If an investor completely wants to avoid uncertainty, she cannot invest in equities, corporate bonds, which have risk of default, and even treasury bonds, which have price risk from shifting interest rates, Damodaran noted. Unless the investor simply wants to just hold cash, she has to therefore decide what her threshold for risk is, and stay within that threshold.3) Margin of Safety: The third approach to dealing with uncertainty also borrows from conventional value investing and imposing a margin of safety, where you will buy a stock only if its price is less than your value estimate by a margin (20%, 30%, 40%) that you specify.4) Law of large numbers: If I had a million dollars in investable funds, would I invest that entire amount in Anthropic, even if it trades at well below my assessed value? The answer would be no, given the uncertainties associated with the future of the company, but that answer would change if my portfolio became less concentrated, since its performance would be less a function of any individual company's performance (good or bad), Damodaran said. In effect, he said he is using the law of large numbers as an ally to not only reduce his risk exposure to individual companies, but also as a basis for making investments in far riskier stocks than he would be otherwise inclined to invest in.Disclaimer: This article has been written by Debaroti Adhikary, who is not a SEBI-registered Research Analyst or an Investment Adviser. Debaroti Adhikary and his/her relative(s) (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here.
FICCI's Budget 2027 wish list has a tax twist
Union Cabinet approves new VISTAR scheme to overhaul Indias statistical system
The three-pronged scheme is aimed at strengthening data collecting, analysis, the incorporation of AI, as well as provide fresh data on the unorganised sector to make the overall GDP figure more accurate
Unilever to invest 35 mn in India for R&D
Motor insurance rules change from December 15, 2026. Car and bike owners must check five things before renewal, including mandatory covers, passenger protection, personal accident insurance, own-damage cover and separate premium disclosures.
Nykaa gets a bigger runway as beauty goes quick
Prices of premium Scotch set to fall in Delhi after customs duty cut on British spirits
Prices for premium Scotch whiskies in Delhi are expected to decline shortly due to changes in customs duty. The reduction in import duty follows the Comprehensive Economic and Trade Agreement between India and the UK. Initially, the duty on British spirits will decrease from 150 to 75 percent, further dropping to 40 percent over the next ten years.
The development has triggered concern among bullion dealers, jewellery manufacturers and traders, particularly because the adulterated gold can appear similar to genuine gold during initial inspection.
Cabinet approves scheme to promote processing of critical minerals
Move to provide targeted capital expenditure support for the establishment and operationalisation of domestic processing facilities
The decline in gold prices is expected to boost demand this Dhanteras, All India Gem and Jewellery Domestic Council (GJC) Chairman Rajesh Rokde told.
Star Air cuts weekly flights on high fuel costs
Indians get selective in car purchases; here's how
