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Subscribe to enjoy similar stories.Real estate bankruptcies may be resolved project by project, and healthy projects of stressed builders spared the bankruptcy court, if a top committee's suggestions bear fruit. The two suggestions are among the committee's 155 recommendations aimed to make real estate rescues more efficient, consistent, predictable and effective, two people aware of the matter said.The committee, set up by the Insolvency and Bankruptcy Board of India (IBBI), recommended that the ministry of corporate affairs, department of financial services and real estate regulatory bodies jointly lay down the framework for project-wise real estate debt resolution.

Subscribe to enjoy similar stories.Mumbai: Promoters of Lucknow-based CP Milk and Food Products are in early talks to sell a 10–15% stake to private equity investors, a deal that could value the dairy company at ₹2,500–3,000 crore, two people familiar with the matter said.“The deal was launched a few days ago and several private equity funds have been tapped,” one of the people cited above said. The company will raise about ₹300-400 crore to expand its geographical and product footprint, the second person said on the condition of anonymity.The company has appointed O3 Capital as its advisor to help raise funds, the people added.If the fundraise goes as planned, it will mark the company’s first round of external capital.O3 Capital and CP Milk did not respond to Mint’s requests for comment till the time of publishing.CP Milk’s fundraising efforts come against the backdrop of several family-owned businesses seeking to tap private markets to catalyze their next phase of growth and ensure smoother succession planning in a professionally run setup.Mint has earlier reported on similar moves by companies such as Anmol Industries, Haldiram, Theobroma, VIP Industries, Balaji Wafers, Iscon Balaji, HyFun Foods and Ratnadeep Retail, that have raised funds or are in various stages of their fundraising process.Established in 2007 by C.P.

Subscribe to enjoy similar stories.Avataar Venture Partners expects at least three liquidity events from its first fund and two from its $350 million second fund within the next 18-20 months, a top executive at the growth investing firm told Mint.“We're expecting a couple of our mature companies to list in 2027 or early 2028,” Mohan Kumar, founding managing partner at Avataar Venture Partners, said in an interview. “By 2028, we'll have three public companies.”He declined to name which of the firm's portfolio companies were considering initial public offerings (IPOs).

Subscribe to enjoy similar stories.An industry body has asked the government to scrap a proposal to ban audit firms from offering non-audit services to clients for three years after their term ends.It said the move will lead to operational inefficiencies, increased costs and hurdles for large corporate groups, and force companies to depend on smaller auditors, which could compromise service quality in complex areas.Companies including EY, PwC, KPMG, Deloitte, BDO and Grant Thornton Bharat, among other audit firms, will be severely impacted if amendments proposed to the Companies Act of 2013 are implemented. These companies offer other advisory services besides audits for clients.The Federation of Indian Chambers of Commerce and Industry (Ficci), a body representing companies across sectors, submitted its comments and suggestions on the Corporate Laws (Amendment) Bill, 2026, last week, Mint has learnt.According to the proposed clause in the bill, an auditor or audit firm shall not provide, directly or indirectly, any non-audit services to a company or its holding company or subsidiary.

Subscribe to enjoy similar stories.NEW DELHI: An early and harsher-than-usual start to summer has prompted the Centre to ask states to step up heatwave preparedness, with temperatures already running 4-8 degrees Celsius above seasonal averages in several regions, according to two government officials and documents reviewed by Mint.The directive comes as parts of northwestern, central and eastern India report daytime highs crossing 44°C, raising the risk of heat-related illnesses and potential disruption to economic activity if extreme conditions persist.The India Meteorological Department (IMD) has warned that heatwave conditions are very likely in the next 24 hours in states including Bihar, Jharkhand, Uttar Pradesh, Rajasthan, Madhya Pradesh, Punjab and Haryana, as well as parts of central and peninsular India.India's official weather forecaster defines a heatwave as temperatures at least 4.5°C above normal, with higher departures classified as severe.Union health secretary Punya Salila Srivastava has asked states to stock essential supplies such as oral rehydration salts (ORS), intravenous fluids, ice packs and cooling equipment, and to operationalize dedicated Heat Stroke Management Units at health facilities. Ambulance services have also been asked to be equipped to handle heat-related emergencies, according to the communication sent to states.States have been directed to mandatorily report daily heatstroke cases and deaths through the Integrated Health Information Platform (IHIP) to enable real-time monitoring.

Subscribe to enjoy similar stories.After HCL Technologies, Infosys also let down the Street with weaker-than-anticipated FY27 revenue growth guidance, reinforcing concerns about a slowing IT cycle.The stock fell over 5% on Friday, sliding to a new 52-week low of ₹1,167.80. Revenue guidance from large IT firms tends to set the tone for investor expectations for the sector.Geo-political conflicts and AI-led deflation are likely dampeners to growth in FY27, reflected in Infosys’s underwhelming revenue guidance of 1.5%-3.5% CC (1.25–3.25% in organic CC).

Subscribe to enjoy similar stories.BENGALURU: Even as global luxury demand shows signs of cooling, international brands are accelerating their India playbooks, betting the country’s still-nascent but fast-evolving luxury market will deliver long-term growth.Ralph Lauren India and the Lanvin Group are sharpening their strategies to deepen their presence, expand retail footprints, and localize offerings in India as revenue growth slows in more mature markets. Both companies are adopting starkly different approaches in India.Shubhi Sinha, brand head at Ralph Lauren India, said the company will continue expanding its physical presence while tapping demand beyond top metros.“We have about eight stores currently and plan to expand.

Subscribe to enjoy similar stories.The Iranian-flagged oil tanker Dorena slipped past a U.S. Navy cordon and was headed out into the Indian Ocean when it switched off its location signal and went dark.The ship, whose movements were tracked by shipping-intelligence firm Kpler, is one of hundreds of sanctions-evading ghost-fleet vessels playing a game of cat-and-mouse as the U.S. tries to lock down Iran’s oil trade and pressure the country to agree to President Trump’s terms for peace.This time, the U.S.

Subscribe to enjoy similar stories.The Multi Commodity Exchange of India (MCX) has proposed launching weekly index options for its bullion derivative index, the MCX Bulldex, according to two people familiar with the matter. The proposal is currently in the early stages of discussion within a regulatory committee, they added."The matter is being discussed in the commodity derivatives advisory committee (CDAC) of Sebi (Securities and Exchange Board of India) but no decision has been taken yet.

Subscribe to enjoy similar stories.NEW DELHI: India’s avocado demand is surging, but domestic supply is still playing catch-up, keeping the country reliant on imports even as local cultivation expands.Government data show imports have more than tripled in two years, rising to $42.27 million in FY26 (till February), from about $27 million in FY25 and $13.5 million in FY24. Domestic output, meanwhile, has increased more gradually—from about 6,000 tonnes in 2023 to around 9,000 tonnes in 2026, experts said.The mismatch highlights a widening gap: rising health-driven consumption is outpacing India’s nascent production base, forcing the market to lean on overseas suppliers even as farmers begin to scale up planting.The area under avocado cultivation has expanded over the years, with farmers in Karnataka, Kerala, Tamil Nadu, Sikkim and parts of Maharashtra responding to growing urban demand.

Subscribe to enjoy similar stories.New Delhi: India’s early and intense summer is already pushing electricity demand towards the highest levels seen during peak summer last year, challenging the country's power system for the weeks ahead.Peak demand has risen to nearly 240 GW this week amid rising use of cooling appliances, up from about 215 GW end March, according to the Grid Controller of India. With the weather bureau warning of sustained above-normal temperatures, demand is seen rising further, raising the likelihood of new records this season.The record high power demand so far is 250 GW seen on 30 May, 2024.

Subscribe to enjoy similar stories.MUMBAI: National Stock Exchange (NSE) plans to roll out a market-making scheme for its recently launched Brent crude futures, as it seeks to build liquidity in a segment dominated by Multi Commodity Exchange of India Ltd (MCX).“There is a plan to offer a liquidity enhancement scheme (LeS) for Dated Brent Crude Oil (Platts) futures in the next two-three weeks,” said a person aware of the development. “The exchange is in talks to appoint select broking firms for the LeS.”The move reflects NSE’s broader strategy in commodity derivatives segment: introduce differentiated products and use market-making incentives to build volumes from scratch.Sriram Krishnan, chief business development officer of NSE, declined to comment specifically on the LeS.But, underscoring NSE's strategy to gain traction in the commodity derivatives segment, dominated currently by the Multi Commodity Exchange with over 99% share, Krishnan said, "We are trying to introduce unique and differentiated products from what is available in the market."NSE launched Brent futures on 13 April.“An LeS in dated Brent futures is a good move as this is one of the major traded commodities not just globally, but also in India,” said Naveen Mathur, director, commodities and currencies, at Anand Rathi.

Subscribe to enjoy similar stories.As companies around the world accelerate automation and adopt artificial intelligence (AI) tools, layoffs have shifted from speculation to reality. Thousands of professionals who once considered their careers stable are now navigating sudden unemployment.The scale is significant.

Subscribe to enjoy similar stories.B9 Beverages Ltd founder and chief executive officer (CEO) Ankur Jain has been asked to resign and is expected to exit as early as this week, according to two persons familiar with the matter, as investors and lenders move to stabilise the cash-strapped craft beer maker, where production was halted around September last year.The leadership reset will come this week with the appointment of a new CEO. "Salary delays as a result of financial mismanagement have run into several crores.

Subscribe to enjoy similar stories.Bengaluru/Mumbai: War-driven cost pressures are deepening an already weak travel cycle, dampening luggage makers’ peak summer season and pushing them to pivot to smaller, lower-priced products from bigger suitcases. Higher airfares and geopolitical uncertainty have hit suitcase sales, forcing brands to lean on backpacks and accessories to protect volumes without eroding margins.The April-June quarter accounts for about 40% of annual sales for luggage brands as families typically spend more on holidays and leisure travel.

Subscribe to enjoy similar stories.More young professionals these days are trading longer vacations for bite-sized weekend hikes and domestic trekking. This trend has picked up immensely across India's busy metros and cities.The government has recognized India's potential to offer world-class trekking and hiking experiences.

Subscribe to enjoy similar stories.BENGALURU: HCL Technologies Ltd’s (HCLTech) weak growth outlook and client-specific challenges triggered a sharp investor selloff a day after its earnings announcement.Shares of the country’s third-largest IT services company fell nearly 9.5% to ₹1,304 on Wednesday, marking their steepest intra-day decline in over a decade, according to a Mint analysis.The reaction puts HCLTech alongside Tata Consultancy Services Ltd (TCS) and Wipro Ltd, whose shares also declined after recent earnings, as all three companies flagged growth pressures with two of them ending the last fiscal year with a revenue decline.HCLTech clocked a 5.95% year-on-year rise in revenue to $14.66 billion for FY26, beating Bloomberg estimates, but net profit fell 4.05% to $1.96 billion. TCS and Wipro, meanwhile, reported revenue declines of 0.54% and 0.32%, underscoring the broader slowdown across large IT services firms.Despite the topline growth, investors focused on HCLTech’s miss on its full-year guidance and a weaker outlook for FY27, which drove the selloff.

Subscribe to enjoy similar stories.Among several distressing data points in the recently published The State of Working India 2026, a detailed vivisection of India’s demographic bulge by scholars at Azim Premji University (APU), a few vividly stand out. While India now produces 5 million graduates every year, salaried employment is only a fraction of that at 1.7 million annually. “This has also contributed to a slowdown in graduate earnings,” the report notes.

Subscribe to enjoy similar stories.Chennai-based M2P Fintech has appointed former Hitachi Payment Services finance executive Vivek Seshadri as group CFO, as it begins laying the groundwork for a potential IPO over the next few years, co-founder and CEO Madhusudanan R told Mint.The move marks a formal step toward institutionalizing the fintech’s finance function as it scales globally and prepares for eventual public markets scrutiny. While the company says a listing is still “at least a couple of years away”, the hire signals that IPO preparation has begun internally.“We are at least a couple of years away,” said Madhu.

Subscribe to enjoy similar stories.New Delhi: India’s foodgrain stocks have surged well above its buffer norms, strengthening the country’s cushion against supply shocks and global price swings. Government data shows central pool reserves were at 60.48 million tonnes (mt) as on 1 April—nearly three times the mandate—fanning a debate over how best to manage surplus stocks to benefit both farmers and consumers.The latest data marks a strong recovery from 33.2 mt stock in 2023 and 37.65 mt in 2024, when food grain inventories had tightened.

Subscribe to enjoy similar stories.Companies are resorting to staggered price hikes to combat rising input cost inflation and protect margins. The impact of these increases is likely to reflect in June quarter (Q1FY27) earnings, but further hikes cannot be ruled out—especially if crude oil prices remain elevated.The West Asia war has triggered a spike in crude oil prices and LPG shortages.