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Subscribe to enjoy similar stories.New Delhi: Luxury retailer Burgundy Brand Collective aims to cross ₹200 crore in revenuein FY27, as the Mumbai-based company bets on rising premium consumption beyond India’s top metros.The company, which has introduced brands such as Royce’ Chocolate, Onitsuka Tiger, Jacadi Paris and Ligne Roset to India, plans to invest about ₹100 crore to scale its multi-category portfolio, cofounder Samir Gadhok told Mint.Burgundy, which reported sales of ₹120 crore in FY24, also plans to nearly double its store count over the next three years to about 65 stores.The expansion comes as India’s luxury consumption story broadens to newer cities where affluent consumers are spending more across categories from fashion and food to home and lifestyle.Burgundy’s approach has been to build across categories rather than deepen a single vertical. "We want to be everything to one customer, rather than one thing to everyone,” said Gadhok.

Subscribe to enjoy similar stories.I’ve questioned before whether Wall Street has the temperament for the artificial-intelligence (AI) era. It’s hard to argue it does when just one report from the Wall Street Journal, which suggested OpenAI had missed some internal growth targets, was enough to wipe billions of dollars of value off related stocks. For a moment on Tuesday, you’d have thought the sky was falling on the AI boom.It wasn’t, of course, and some of the initial shock losses were pared once OpenAI had struck a reassuring tone in a statement that said it was still “firing on all cylinders.”Still, the knee-jerk reaction was an indication of how closely the fate of OpenAI is tied to perception of the AI industry’s future.

Subscribe to enjoy similar stories.State-owned Uco Bank expects its micro, small and medium enterprises (MSME) portfolio to remain stable despite global headwinds, managing director and chief executive officer Ashwani Kumar told Mint in an interview on Thursday. The bank is eyeing a retail lending boost and is stepping up investments in technology to drive growth, he said.While geopolitical tensions and supply-chain disruptions could have some impact, Kumar expressed confidence that policy support would help cushion the sector.

Subscribe to enjoy similar stories.The House of Rare aims to evolve beyond apparel into a broader lifestyle-led retail powerhouse as it expands into categories such as fragrances, luggage and women’s footwear, while also betting on faster delivery timelines and quick-commerce-led fashion discovery.Founded over a decade ago, Bengaluru-based The House of Rare owns a portfolio of premium fashion brands, including men’s label Rare Rabbit, women’s line Rareism, kidswear brand Rare Ones, and footwear venture Rare’Z.“The idea is to expand into different categories which fit the brand ecosystem and target the lifestyle of the urban consumer,” Akshika Poddar, founder of Rareism from The House of Rare, said in an interview with Mint.The expansion comes at a time when premium fashion retailers in India are increasingly looking beyond core apparel to build wider lifestyle ecosystems around consumers, while also adapting to shopping habits shaped by quick commerce and faster delivery expectations. As competition intensifies in the premium westernwear segment, brands are also pushing deeper into tier-2 and tier-3 markets to tap rising aspirational demand.The company is set to launch women’s sneakers in June, and plans to introduce girlswear under its kidswear brand Rare Ones by January next year, while also scaling categories such as luggage and fragrances.

Subscribe to enjoy similar stories.A clarification by the Reserve Bank of India has undercut Tata Sons’ attempt to distance itself from public funds, potentially retaining it in the upper layer of non-bank financial companies (NBFCs), a category that entails tighter regulation and a mandatory listing requirement.The move complicates matters for the holding company of the Tata group, which has been trying to stay private, especially since RBI introduced its scale-based supervision of non-bank lenders.Late Wednesday, the central bank said it has received feedback that the mention of ‘indirect public funds’ in its draft non-banking financial company (NBFC) circular of 6 February leads to treating equity investment in an NBFC by group entities having debt as ‘indirect receipt of public funds’.Per RBI, public funds include funds raised either directly or indirectly through public deposits, inter-corporate deposits, bank finance and all funds received from external sources.Mint had reported in 2024 that Tata Sons had turned debt-free in a bid to avoid getting listed under the upper layer regulations and surrendered its registration as a core investment company (CIC). The RBI is yet to communicate its decision on this issue.A former regulator said the earlier argument was that since Tata Sons does not have public funds, it can give up its CIC registration, not be in the upper layer, and therefore can stay private, does not hold water.

Subscribe to enjoy similar stories.Reliance Industries Ltd’s recent sale of a second-level step-down subsidiary to a little-known company may test the limits of regulation on related-party transactions even while technically keeping to the rules, said legal and governance experts.On 13 April, Reliance Retail Ltd sold its subsidiary, Reliance Projects & Property Management Services Ltd (RPPMSL), to Jaipur Enclave Pvt. Ltd for ₹ ₹274 crore, according to a stock exchange filing.The sale consideration is small compared to the scale of the sold unit.

Subscribe to enjoy similar stories.Lose weight quickly, and it often shows up on the face first. As fat disappears, the skin can sag, accentuating signs of ageing.

Subscribe to enjoy similar stories.Blackstone-backed Bagmane Prime Office Reit, which is set to launch its ₹3,405-crore initial public offering (IPO) next week, expects strong leasing momentum led by global capability centres (GCCs) as it looks to acquire assets and grow its portfolio, CEO Richard Hugh Andrew said.The IPO, which opens on 5 May, comprises an issue of fresh shares worth ₹2,390 crore and an offer for sale (OFS) worth up to ₹1,015 crore by a Blackstone affiliate. The proceeds from the new shares will be used to part-fund the acquisitions of Luxor at Bagmane Capital Tech Park, a million sq ft completed asset, and a 93% stake in Bagmane Rio Business Park, a 1.1 million sq. ft leased building.India currently has four listed office Reits—Mindspace Business Parks Reit, Embassy Office Parks Reit, Brookfield India Real Estate Trust (Biret) and Knowledge Realty Trust.

Subscribe to enjoy similar stories.MUMBAI: Indian Bank expects steady balance-sheet growth in fiscal year 2026-27 (FY27) but warned that margins could remain under pressure as deposit costs stay elevated and funding growth lags credit demand.“The cost of deposit is not going down, that is the major concern. Credit growth has been outpacing deposit growth since the last so many quarters, so there, of course, will be some bearing on cost of deposit,” managing director and chief executive officer Binod Kumar said.The bank’s ability to cut deposit rates is constrained by the need to keep deposit mobilization in line with credit growth.

Subscribe to enjoy similar stories.Many Indians rely on recurring payments to manage everything from systematic investment plan (SIP) installments and insurance premiums to credit card bills. However, until recently, there was a major pain point for transactions above ₹15,000 done through cards or UPI: the requirement for a one-time password (OTP).

Subscribe to enjoy similar stories.In hotels across India, not much looks different at the first look. The check-ins are the same, the wedding crowds have not gone away and the weekend rush in Goa or Jaipur continues.

Subscribe to enjoy similar stories.A public feud that played out on social media for years is now having its day in court. Tech billionaire Elon Musk took the stand this week and described OpenAI as a “stolen charity”, escalating a legal battle that is at the heart of the global artificial intelligence (AI) race.The lawsuit, filed by Musk against OpenAI and its chief executive, Sam Altman, also a billionaire, seeks damages of around $150 billion and challenges the company’s shift from a non-profit research lab to a commercial AI powerhouse.The case comes at a time when OpenAI is updating its guiding principles, reworking key partnerships, and expanding its footprint across cloud platforms.

Subscribe to enjoy similar stories.NEW DELHI: Bharat Sanchar Nigam Ltd (BSNL) has set an ambitious target of increasing its average revenue per user (Arpu) by almost 50% to ₹150 in the current fiscal year. This after a recent annual review flagged concerns “regarding the stagnation of core business revenue” of the state-owned telecom operator, according to the meeting document seen by Mint.The target was set at a review meeting of BSNL with communications minister Jyotiraditya Scindia on 23 April.

Subscribe to enjoy similar stories.The Strait of Hormuz chokehold inflames oil prices and causes jitters in India. In a seeming upturn, the Iranian ambassador to India met journalists on 13 April to say there is continual engagement with the Indian government. He is also reported to have said no Indian ships had been charged for passage through the strait.

Subscribe to enjoy similar stories.Dinshaw’s Dairy Pvt Ltd, founded in 1932, is trying to look and think younger. The 94-year-old Nagpur-based ice cream maker is recasting its identity to appeal to a new generation of consumers, while making investments to expand its footprint beyond Maharashtra into markets across India, Zervin Rana, director at the company, told Mint in an interview.The push comes months after a comprehensive rebranding exercise that refreshed the company’s logo and positioning.

Subscribe to enjoy similar stories.Tencent-backed audio platform Pocket FM has revived plans to raise fresh capital, targeting $100 million-$120 million at a valuation of $1.5 billion-$2 billion, according to two people familiar with the matter. This marks a second attempt by Pocket FM, which had explored fundraising about nine months ago but failed to close the round amid investor concerns over backing a loss-making business.Mint had earlier reported that Goldman Sachs was advising on the previous mandate.

Subscribe to enjoy similar stories.The government is set to roll out the third iteration of the Panchayat Advancement Index (PAI) in May, strengthening its push for evidence-based planning at the grassroots level, said Sushil Kumar Lohani, additional secretary in the ministry of panchayati raj.PAI, first launched for 2022-23, is a composite index to assess the performance and progress of gram panchayats across India by using socio-economic indicators, identifying development gaps and supporting evidence-based planning. The introduction of PAI 3.0 for 2025-26 is expected to transform rural areas by enhancing service delivery, infrastructure and livelihoods.With about 65% of India’s population living in the rural areas, PAI could significantly improve transparency and accountability, ultimately transforming living standards and accelerating inclusive growth across almost 665,000 villages.The updated index builds on earlier versions that have already been adopted by several states as a core planning tool.

Subscribe to enjoy similar stories.India’s stock market is back near levels last seen almost two decades ago, with the market cap-to-GDP ratio, or the Buffett Indicator, at 137.70% in 2025—its highest since 146.52% in 2007, according to Mint’s analysis of Bloomberg data.While a high ratio can signal ‘expensive’ valuations in a textbook sense, several market participants say, this time, it may point to a different narrative.Even as India’s market cap-to-GDP ratio hovers near its 2007-08 bull run peak, the backdrop today is markedly different.

Subscribe to enjoy similar stories.India’s top companies are estimated to have spent anywhere between ₹69,000 crore and ₹72,000 crore on legal matters in the fiscal year ended March. The spending has risen from ₹60,000 crore in FY25 due to shifting regulations, geopolitical risks and rising compliance demands.

Subscribe to enjoy similar stories.As the fourth quarter numbers of FY26 begin to trickle in, early trends point to headline profit resilience, largely driven by financials, particularly banks. Across non-financial industries such as consumer and IT, revenue growth has held up, but profits are already under pressure, signalling a broader margin squeeze ahead.With uncertainty around the West Asia conflict persisting, Dalal Street remains cautious, as investors brace for the full impact of rising input costs to flow through to profitability from the June quarter.A Mint analysis of 220 early results shows total income rose 3.4% year-on-year, a sharp slowdown from 12% in the December quarter for the same set of companies.However, even as core operations (net sales) rose nearly 9% y-o-y to a seven-quarter high, overall topline was weighed down by a 65% fall in non-core (‘other’) income, driven by treasury losses as bond yields hardened amid the West Asia conflict in March.Meanwhile, aggregate net profit for the 220 companies rose 10% y-o-y, but the gains were largely driven by banks, masking pressure on non-financial companies amid a sharp rise in costs.Further, a 50% spike in crude oil prices in March drove raw material and service costs higher, leading to a 13% year-on-year and 20% sequential surge in overall expenses, limiting the benefit from the absence of the previous quarter’s one-off labour code adjustments.Mitesh Dalal, head of broking at Sanctum Wealth, noted that most firms were still consuming lower-cost inventory through much of the quarter, with the crude spike largely concentrated in March.

Subscribe to enjoy similar stories.The insurance sector requires deregulation in some areas and stronger regulation in others. However, deregulation does not mean laissez-faire,” said Ajay Seth, chairman of the Insurance Regulatory and Development Authority of India (Irdai).In an interaction with Mint, he outlined the regulator’s approach to balancing sector liberalization with consumer protection, amid proposed reforms such as the Sabka Bima Sabki Raksha Act.He discussed foreign participation, regulatory safeguards, challenges in health insurance, global risks, and new initiatives such as the Public Insurance Registry and the Bima Sugam platform.