India Financial News

Subscribe to enjoy similar stories.BENGALURU: A month after Tata Consultancy Services Ltd (TCS) completed its largest retrenchment exercise, laying off about 2% of its workforce, the company asked managers during its latest appraisal cycle to place about 5% of its 584,519 employees in Band D, the lowest performance category, according to an internal email reviewed by Mint and independently confirmed by an executive.“Please review critically and share the list of associates who can be considered for Band D, thereby meeting the agreed 5% distribution,” said an email from a TCS HR executive to one of the business unit heads of the company in April.Business unit heads classified about 3% of employees, about 17,500 people, as underperformers, according to three other executives.The ratings have stoked fresh concerns among employees across India’s largest software services firm, especially after many of the 12,200 employees laid off in the recent retrenchment exercise were similarly rated.Top performers, meanwhile, received hikes of about 6%, according to annual salary increase letters sent to employees on Sunday.An email sent to TCS on 12 May seeking comment went unanswered till press time.While TCS, like peers Infosys Ltd and HCL Technologies Ltd, has long classified some employees as underperformers, executives said the explicit 5% Band D distribution has heightened concerns.“A couple of things stand out this time around. Until last year, it was understood that many employees would be placed in Band D, as in other IT companies.

Subscribe to enjoy similar stories.Shares of Tata Steel fell about 4% on Monday despite a robust March quarter performance, as concerns mounted over possible closure of its coke and gas plants (CGPs) in the Netherlands due to emission norm breaches.The stock reaction was driven by regulatory risks at Tata Steel Netherlands (TSN). In April, local agencies issued a letter to TSN expressing their intention to revoke permits for its 40–50-year-old CGPs, citing non-compliance with emission norms.While TSN could procure coke from the market if the units are shut, that would significantly dent profit margins and could render operations commercially unviable.The regulator’s move can impact the financial stability of TSN, “given the significance of the facilities to TSN’s operations,” the company said.

Subscribe to enjoy similar stories.MUMBAI: Consumer-focused private equity firm L Catterton, among others, is in talks to acquire a stake in Bengaluru-based restaurant chain Nandhana Palace, three people familiar with the matter said.“The investment firm may likely acquire a minority stake in the business,” one person said.“The Andhra-cuisine restaurant chain is also in discussions with other funds, but L Catterton may likely have an edge, given its deep expertise in the consumer sector,” a second person said.Mint reported in December that Nandhana had sought a valuation of ₹2,000 crore when it was in talks with Dubai-based investment firm Pulsar Capital, but that did not materialize.That valuation was at the higher end and may evolve or change, depending on the buyer, two of the people said.“While the final terms are yet to be signed, the deal is still undergoing due diligence,” a third person said.L Catterton and Nandhana did not respond to Mint’s requests for comment till the time of publishing.L Catterton is 60% owned by private equity firm Catterton and the remaining 40% is jointly owned by French luxury brand LVMH and Groupe Arnault. The firm manages $40 billion of equity capital and has made over 300 investments in consumer brands globally and in India.Its portfolio companies include Drools, Sugar Cosmetics, Farmley, Haldiram’s, Healing Hands Clinic and Jio Platforms.

Subscribe to enjoy similar stories.India’s central bank has quietly become a key pillar of macroeconomic stability. It is not just a monetary authority, but increasingly playing a role as a fiscal shock absorber. This deserves appreciation and caution.The Reserve Bank of India (RBI) has managed an extraordinarily hard decade.

Subscribe to enjoy similar stories.MUMBAI: India’s petrol and diesel price hike, alongside a volatile crude oil outlook, is set to ripple across key sectors and is already feeding early market pressure, with analysts warning of further inflation if global oil prices climb.Oil marketing companies (OMCs) finally bit the bullet and raised prices of petrol and diesel by around ₹3 a litre on Friday amid elevated global prices. More hikes are expected going ahead as under-recoveries remain high.Higher fuel prices are expected to feed quickly into logistics and freight costs, with transport operators unlikely to absorb higher diesel expenses, triggering cost pass-through across supply chains and sectors dependent on transportation and energy-intensive inputs, potentially widening inflation pressures across the economy, according to experts.“We raise FY27 headline inflation to 5% versus 4.6% earlier assuming a ₹10 per litre hike in retail fuel prices, along with the impact of El Niño-led adverse monsoons,” said Madhavi Arora, chief economist at Emkay Global.The cost pressures come at a time when corporate earnings in consumption- and transport-linked sectors are already under strain from elevated input costs and uneven demand recovery.Fast-moving consumer goods (FMCG) companies are expected to face higher distribution and input costs, even as they continue to grapple with already elevated raw material inflation.Large FMCG players have already begun raising prices as fuel, packaging and food commodity costs continue to rise.

Subscribe to enjoy similar stories.The Indian currency has been experiencing sharp depreciation amid the West Asian crisis, driven largely by rising energy prices and moderating capital flows. That said, the weakness of the Indian rupee has been a persistent concern over the past year, even before the conflict began. It has depreciated by about 11% over the past year, with about 5% of this value loss having occurred after the US-Iran war began on 28 February.The main concern for the rupee is India’s weak balance-of-payments position.

Subscribe to enjoy similar stories.Despite being infamous for box office volatility, the theatrical business is fast drawing digital-first players seeking scale beyond streaming.Kuku, the digital entertainment company behind platforms like Kuku FM and Kuku TV, has announced its expansion into theatrical-led cinema with its first Hindi feature film, Indian Institute of Zombies.Firms like Collective Media Network and TVF (The Viral Fever), known for OTT and digital projects, also have theatrical releases scheduled.Industry experts say that while cinema remains unpredictable in the short term, films continue to be one of the most powerful formats for building large-scale intellectual property and cultural relevance.Digital-first companies are not looking at films only through the lens of theatrical box office—they see them as long-term content assets that can travel across streaming, satellite, music, and international platforms. For many, film production is a natural extension of an ecosystem already built around audience data, creators, and cross-platform storytelling.“Digital platforms have spent years building audience trust, understanding consumption patterns, and identifying what truly resonates.

Subscribe to enjoy similar stories.In India, we treat leadership the way we treat wedding guests: the more people hanging around to feed your ego, the more important you must be.The Ego Equation is simple: Power + Applause – Answerability = Inflated Human Balloon.In theory, leadership is about service. In practice, it often resembles a group project where one person signs the report and everyone else does the work. The moment someone acquires a title, their WhatsApp typing speed slows by 40%.

Subscribe to enjoy similar stories.Is Keynesian advice relevant to India’s economy? Austerity, Keynes warned, could worsen an economic slump. If we all cut back on spending, output would reduce.

Subscribe to enjoy similar stories.New Delhi: In 1973, Arab nations declared an embargo on oil production, leading to a global energy crisis. Prices quadrupled overnight. And some governments suddenly remembered ethanol.

Subscribe to enjoy similar stories.Assamese was, of course, his mother tongue, the language in which he thought and dreamed, the linguistic landscape that felt like home. But the Northeast’s complex demographics meant that multilingualism was practical necessity as much as cultural richness.

Subscribe to enjoy similar stories.New Delhi/Mumbai: The Supreme Court’s decision to send the high-profile Kapur family dispute over late Sona Comstar chairman Sunjay Kapur’s estimated ₹30,000-crore estate to mediation under former chief justice of India D.Y. Chandrachud has drawn attention to how Indian courts are handling promoter-family battles outside traditional courtroom litigation.Mint explains whether mediation can really solve inheritance battles that carry financial and emotional stakes, and how mediation works in high-profile family business disputes.The inheritance battle emerged last year after Sunjay Kapur, the then chairman of Sona Comstar, one of India’s largest automotive technology and EV component makers, died following a heart attack.Sunjay Kapur’s children – Samaira and Kiaan – from his earlier marriage to actor Karisma Kapoor, moved the Delhi High Court, challenging a will that allegedly left his entire estate to his widow, Priya Kapur.

Subscribe to enjoy similar stories.New Delhi: Youngsters riding bikes at high speed without hands on the handlebars and performing stunts have long been a common sight in India, raising serious safety concerns for both riders and other motorists and even pedestrians.This could soon change.The government is planning a three-layer “hands-free” safety system for two-wheelers, requiring manufacturers to install technology that can detect whether riders have both hands on the handlebars and step in if they do not, amid rising road accidents in the country.According to an internal draft of the proposal, reviewed by Mint, the planned safety standards would require bikes and scooters to prevent ignition without both hands on the grip, issue audio and visual alerts if hands are removed while riding, and gradually slow down the vehicle in such cases.The introduction of new standards will lead to additional costs for automakers, which are typically passed on to consumers, with the proposed measures expected to increase prices by ₹800-1,000 per unit for installing sensors on handlebars, at least two industry executives said. The move marks a fresh push by the Centre to tighten two-wheeler safety norms even as its attempt to mandate anti-lock braking systems (ABS) across all categories of two-wheelers irrespective of engine capacity remains stuck amid industry resistance and cost concerns.

Subscribe to enjoy similar stories.NEW DELHI: Even as India braces for record electricity demand this summer, power prices on exchanges recently slumped to zero in multiple trading sessions. The sharp fall has highlighted a growing challenge for India’s power sector: managing rising solar generation in the absence of adequate storage capacity.The trend has implications for renewable energy developers, power distribution companies and grid managers.

Subscribe to enjoy similar stories.Chemical fertilizers in India are heavily subsidized and import-dependent. Their use, over the years, has led to significant deterioration in soil health. To promote soil testing, provide farmers with crop-specific nutrient recommendations, improve soil fertility and optimize fertilizer use, the government launched the Soil Health Card (SHC) scheme in 2015.

Subscribe to enjoy similar stories.Real estate developer Sattva Group plans to expand its hospitality business amid rising travel demand and higher consumer spending on premium experiences.The Bengaluru-based company, which has co-developed JW Marriott Hotel Kolkata and Novotel Kolkata Hotel and Residences, is building a wider hospitality pipeline spanning Bengaluru, Hyderabad, Visakhapatnam and Darjeeling.“We will invest 10-20% of our turnover into the hotel business going forward," Adrija Agarwal, president of Sattva Group told Mint. “We see hospitality as a serious asset class for us now.

Subscribe to enjoy similar stories.Well, the first days are the hardest daysDon’t you worry anymore‘Cause when life looks like Easy StreetThere is danger at your door —Uncle John’s Band by Grateful DeadPrime Minister Narendra Modi’s recent austerity appeal is like an official acknowledgement that trouble is brewing in India’s economy. His exhortations seemed like a signal to all stakeholders that the time has come to talk about the Iran war’s direct and indirect effects.

Subscribe to enjoy similar stories.In his first speech as chief minister of Tamil Nadu, Joseph Vijay said in Tamil, “I have known poverty; I’ve known hunger. I am not from some royalty.” This whole country seems to be filled with self-made men. Except that most of them may not be at all.

Subscribe to enjoy similar stories.Back in 2024, among the many international brands announcing their launches in India, global makeup giant Laura Mercier entered India through an omnichannel presence, including a store in Mumbai. Cut to 2026, the brand is re looking at its India strategy, relaunching in India with a different partner, Luxasia India. Ginny Wright, CEO, Orveon Global, whose portfolio also includes bareMinerals and BUXOM cosmetics, discusses their relaunch.

Subscribe to enjoy similar stories.In the history of literature, several outstanding novels have captured the personal and societal challenges associated with upward mobility. Once a man could make his fortune through intrepid adventure (R.L.

Subscribe to enjoy similar stories.India’s social capital deficit registers as a factor in its current account deficit through the demand for gold. Our appetite for gold is not an irrational cultural quirk. It is, in part, a revealed preference and a tangible symptom of our collective distrust in one another, society and civic institutions.