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Subscribe to enjoy similar stories.Shareholders at Berkshire Hathaway’s early-May annual general meeting, often described as a pilgrimage for many who idolize Warren Buffett, might have been puzzled by some aspects of CEO Greg Abel’s presentation. Abel, a long-time lieutenant to Buffett who took over as CEO at the beginning of this year, underlined that he planned to continue with the Buffett tradition of buying undervalued businesses.

Subscribe to enjoy similar stories.PI Industries stock has fallen 11% over the past two trading sessions as pressure in its custom synthesis and manufacturing (CSM) business persisted. CSM revenues have now declined year-on-year for five consecutive quarters. The segment, which contributed about 75% of the agrochemicals maker’s FY26 revenue of ₹6,714 crore, saw revenue fall 16% year-on-year.Weak demand and customers’ shift to just-in-time procurement continued to weigh on the CSM business, where revenue declined 15% in the March quarter (Q4FY26), though that marked an improvement from the 32% drop in Q3FY26.Management said the global crop-protection market remains stuck in a prolonged multi-year downturn, resulting in an uneven recovery.

Subscribe to enjoy similar stories.The Reserve Bank of India (RBI) has put out a draft amendment to its earlier directions on prudential norms for the capital adequacy of commercial banks. It deals with Pillar 3 (disclosure requirements) of the Basel III framework, adopted by RBI in 2013.The rationale, according to the central bank, is to ensure greater consistency with that framework, as prescribed by the Bank for International Settlements, the global collective of central banks.

Subscribe to enjoy similar stories.New Delhi: The Centre is weighing an emergency, one-time increase in prices of around 300 essential medicines as the West Asia war disrupts supplies of petrochemical-based pharmaceutical inputs and drives up manufacturing costs, according to two government officials and two industry executives.The increase, which is being discussed between the National Pharmaceutical Pricing Authority (NPPA), the Department of Pharmaceuticals (DoP), and the commerce ministry, would be rolled back once supply chains stabilize, they said.The medicines under discussion include antibiotics and anti-infectives (amoxicillin, azithromycin), cardiac drugs (amlodipine, atorvastatin), and analgesics (paracetamol), besides other essential and life-saving formulations such as steroids (dexamethasone) and vitamins (ascorbic acid) that are dependent on imported active pharmaceutical ingredients and petrochemical-based solvents.“A proposal has come from the industry to the government regarding this pricing, and the government is reviewing the matter,” one of the two officials cited above said, requesting anonymity.“Indian Drugs Manufacturing Association (IDMA) is in dialogue with the government for getting some temporary relief under Drugs Prices Control Order (DPCO), in order to ensure a balance between the industry concerns and patients’ needs,” said Dr.

Subscribe to enjoy similar stories.India is gearing up for one of its largest offshore oil and gas exploration campaigns in recent years.The government has planned extensive geological surveys across multiple eastern offshore basins.The timing is no coincidence. India still sources nearly 85% of its crude oil from overseas, along with a significant chunk of its natural gas needs.That dependence leaves the economy exposed; any spike in global crude prices, geopolitical flare-up, or supply disruption abroad quickly feeds into higher fuel costs and inflation at home.According to media reports, survey ships are expected to soon begin scanning vast stretches of the Bay of Bengal and nearby offshore regions to hunt for commercially viable hydrocarbon reserves buried beneath the seabed.The government has floated bids for a large-scale multi-basin exploration project covering the Bengal-Purnea, Mahanadi, Krishna-Godavari, Cauvery, and Andaman offshore basins—all using advanced 2D Broadband Marine Seismic and Gravity-Magnetic surveys.The scale is striking.

Subscribe to enjoy similar stories.India, one of the world’s largest buffalo meat exporters, is planning a DNA-based testing system to strengthen meat verification and traceability, amid concerns over illegal meat exports and suspected mixing of banned cow meat with buffalo meat consignments, two people directly involved in the process said.The Bureau of Indian Standards (BIS), which reports to the consumer affairs ministry, has started a study to validate a real-time PCR-based test to detect buffalo DNA in foodstuff and feedstuff to check adulteration and improve species verification in animal-derived products, the people said on the condition of anonymity.“The study's findings will pave the way for introducing new standards as the existing international ISO standards currently do not provide a dedicated method for buffalo DNA detection,” one of the two people cited above said. “Because processed or minced meat is difficult to identify visually, DNA/PCR testing is widely used internationally to verify the animal species and detect adulteration."DNA-based testing refers to a scientific method that identifies the exact animal species in food products by analysing unique genetic material, helping regulators detect adulteration even in processed or mixed products.

Subscribe to enjoy similar stories.New Delhi: India’s efforts to diversify LPG supplies have gained momentum after state-run Bharat Petroleum Corporation Ltd (BPCL) made its first-ever spot purchases from the American market, a top company official said, as the country seeks to reduce dependence on West Asia amid ongoing conflict in the region.The development assumes significance as India imports 60-65% of its annual liquefied petroleum gas (LPG) requirement of 33 million tonnes, with nearly 90% of these imports sourced from West Asia, making it vulnerable to supply-chain disruptions amid the ongoing US-Iran tensions in the region.Although the mobilization period from the US is about 45 days, cargoes from North America would ease supply crunch faced by the world's second-largest LPG importer, said VRK Gupta, director (finance) at BPCL."For the first time, BPCL has procured 2 US cargoes of LPG on spot purchase basis which have arrived in the month of May 2026. Hence, even if it takes about 90 days (to and fro), cargoes from the US will ease the supply scenario," Gupta told Mint in an interview.These are very large gas carriers (VLGC), with a capacity of 45,000-48,000 tonnes.BPCL’s LPG business accounts for about 28% of the country’s liquefied petroleum gas market, covering 93.5 million cylinder connections.LPG is a sensitive issue in the country as it is used for cooking by nearly 340 million households.

Subscribe to enjoy similar stories.India Inc’s debate over work-from-home is returning on a call from prime minister Narendra Modi as part of a strategy to deal with the repurcussions of the West Asia war. This comes at a time artificial intelligence is reshaping jobs and productivity expectations, while macroeconomic pressures—from currency weakness to tighter cash visibility—add a new layer of urgency for chief executives.Mint reached out to Dr Ram Charan, feted global advisor to CEOs and boards, for his views on the tough choices CEOs need to make. Dr Charan, formerly a board member at Hindalco Industries, dwelled on work from home, top CEO worries, how AI will reshape the workplace, and how workers can retrain themselves.

Subscribe to enjoy similar stories.India’s insurance sector has found renewed vigour, with two global players ready to expand their market presence and others exploring entry. On Monday, US-based Liberty Mutual Insurance announced a stake increase in its Indian venture Liberty General Insurance to 74% from a bit above 55%.A day earlier, UK-based Prudential said it will buy a 75% stake in Bharti Life Insurance Company. Also, Germany’s Allianz has struck a 50:50 joint venture (JV) with Jio Financial Services.

Subscribe to enjoy similar stories.New Delhi: State-run Oil India Ltd (OIL) plans to raise its exploration and production capital expenditure by over 10% to ₹10,000 crore this fiscal year, chairman and managing director Ranjit Rath said, as the country grapples with an energy shock amid the West Asia war.The Maharatna company, which traces its origin to India’s first commercial crude oil discovery in Digboi (Assam), expects to produce about 4 million tonnes (mt) of crude oil this fiscal, compared with 3.45 mt in FY26. He added that work on the $20-billion Mozambique LNG project has resumed.

Subscribe to enjoy similar stories.NEW DELHI/MUMBAI: India’s largest banks are stepping up cyber defences, hiring, and insurance coverage as concerns grow that advanced AI systems could make cyberattacks faster and harder to contain, exposing gaps in preparedness and protection.The pressure has risen after a finance ministry meeting with top banking executives on 23 April focused on banks’ preparedness for AI-linked cyber threats. The meeting came weeks after Anthropic unveiled Claude Mythos, a frontier AI model the company said could identify vulnerabilities and conduct cyberattacks at unprecedented speed.Concerns around AI-enabled attacks have grown since September last year, when a cloud storage server exposed personal banking data of nearly 300,000 individuals, including loan account details linked to several large banks and non-banking finance companies.India’s largest private lender, HDFC Bank, told Mint it reviews cyber insurance annually and is now widening coverage as risks evolve.“The bank is continuously strengthening its cyber security posture, including hiring highly-skilled talent across security engineering, developer security operations, red-teaming or simulation of cyber attacks, and AI security,” said Ramesh Lakshminarayanan, group head of information technology and chief information officer at HDFC Bank.At Axis Bank, teams participate in programmes such as adversarial AI and ‘red teaming’ to simulate attacks.

Subscribe to enjoy similar stories.BENGALURU: India’s top engineering and management institutes are no longer content with merely incubating startups. Increasingly, they also want to participate in the upside created by companies emerging from their own ecosystems.Institutions including Indian Institute of Technology (IIT) Bombay, IIT Madras and Indian Institute of Science (IISc) Bengaluru are setting up venture funds to invest in campus-linked deeptech startups, as rising investor interest in sectors such as semiconductors, defence and spacetech pushes universities to play a larger role in the businesses they help build.But why are they doing this now? How are these funds structured? And what kind of startups are they backing? Mint explains.So far, IIT Bombay and IIT Madras have launched venture funds, while IISc Bengaluru is in the process of setting up one.The funds are being structured through affiliated entities, incubators and alumni-backed networks because IITs and IISc operate as Section 8 entities, or non-profit organisations.IIT Madras, through its research park, has partnered with venture firm Unicorn India Ventures to launch the IITM Unicorn Frontier Fund, a ₹600 crore vehicle with a ₹400 crore green-shoe option.

Subscribe to enjoy similar stories.Cognizant Technology Solutions Corp has doubled its share buyback programme to $2 billion in 2026, with the flexibility to buy shares worth as much as $3.45 billion as the Nasdaq-listed company looks to instill investors with confidence after its stock was battered this year.The board of directors authorized the increase in the share repurchase target from $1 billion originally planned for 2026, the company said in a statement 18 May. The repurchase is expected to be completed during the second quarter of 2026.“Our plan to increase the amount of share repurchases reflects our strong conviction in the long-term opportunity AI creates and our critical role in it as an AI builder,” S Ravi Kumar, chief executive officer of Cognizant, said in the statement.

Subscribe to enjoy similar stories.For decades, India’s unorganized sector has remained a mainstay of employment in the economy, even as its share of economic output has declined.Large companies and factories have failed to generate jobs at the pace required to absorb a growing labour force. In that vacuum, the unorganized sector—small shops, workshops, grocery stores, tiny manufacturing units and street vendors—remains the fallback.Yet compiling reliable data on these enterprises has long been a challenge.

Subscribe to enjoy similar stories.A college senior called recently with a practical problem. He had suffered a cardiac episode some years ago and was finding it difficult to now increase his health cover. Every insurer he approached either declined or imposed permanent exclusions on cardiac conditions.

Subscribe to enjoy similar stories.Foreign portfolio investors (FPIs) slashed some of their bearish positions in Nifty and Bank Nifty derivatives, while also turning buyers in the cash market, on hopes of a rebound in Indian equities amid elevated oil prices.FPIs were net buyers of shares worth a provisional ₹2,813.69 crore on Monday, according to BSE data, helping the market pivot from deep intraday losses to end in the green.Nifty recovered 333 points from its intraday low of 23,317.10 to close at 23,649.95, up 0.3% from Friday’s close.Alongside FPI inflows, domestic institutional investors bought shares worth ₹2,682.12 crore, as per provisional exchange figures.The rebound was driven not just by institutional cash buying, but also by FPIs squaring off short index call positions and trimming short hedges in Nifty and Bank Nifty futures on Monday.FPIs cut short call positions by a sharp 42,153 contracts, taking cumulative net shorts to 214,366 contracts — implying expectations among some of a bounce on Tuesday, which coincides with weekly Nifty expiry, per NSE data.Additionally, long-term foreign funds reduced their bearish Nifty and Bank Nifty futures positions by 6,641 contracts to a cumulative 209,866 contracts.On balance, traders sold 134 Nifty puts against 100 Nifty calls expiring Tuesday, up from 97 puts sold against 100 calls on Friday.The higher proportion of puts sold relative to calls indicates optimism about a rally of at least 1% from Monday’s close, according to NSE data.Based on NSE options data, Nifty could test 23,800 on Tuesday.

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.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.NEW DELHI: The government has digitised the compliance process for environmental clearances linked to industrial expansion, in a move aimed at easing regulatory burdens and accelerating project approvals, said two officials aware of the development.The ministry of environment, forest and climate change (MoEFCC) has made the process of obtaining certified compliance reports (CCR) for industrial expansion proposals digital through the existing PARIVESH portal, aiming to ease procedures for businesses seeking environmental clearance (ECs). Launched in August 2018, PARIVESH (Pro-Active and Responsive facilitation by Interactive, Virtuous, and Environmental Single-window Hub) is a central government digital platform, which automates and streamlines the process for businesses and developers to apply for and track mandatory environmental and ecological clearances.The online system will enable industries to file compliance reports pertaining to projects where environmental clearance is needed, upload mandatory documents and track approval status through a single digital platform, reducing paperwork and procedural delays, the officials said, requesting anonymity."It will be useful for those projects which require environmental clearance.

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.Health insurance protects against sudden and unforeseen hospitalization costs. Pregnancy, being a planned medical event in most cases, has traditionally remained outside the scope of standard health insurance.