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Subscribe to enjoy similar stories.Indian IT’s mid-tier firms are narrowing the gap with the industry’s six largest players in terms of incremental revenue, even as growth slows across the board amid AI disruption and demand uncertainty.Coforge, Mphasis and five similar companies saw growth moderate, but the rate of decline in new business in FY26 was slower than that of the country’s six largest software exporters, which include the likes of Tata Consultancy Services (TCS) and Infosys.Together, these seven mid-tier companies, each with annual revenue between $1 billion and $2 billion, added $1.1 billion in new business in FY26, down from $1.25 billion in FY25. In comparison, the six largest firms, with annual revenue in a range of $5-30 billion, added $1.9 billion, down from $2.28 billion in FY25, according to a Mint analysis of company filings.This suggests that mid-tier tech firms are closing the gap with larger peers in incremental business.

Subscribe to enjoy similar stories.US-based FMC Corporation, a global agricultural sciences company, on Thursday said it has signed an agreement to sell its India commercial business to IPO-bound Crystal Crop Protection Ltd, a crop solutions company in New Delhi, for about $252 million.“FMC’s innovative portfolio, blockbuster brands and future pipeline give us an opportunity to provide Indian farmers access to innovative products,” Crystal’s chairman and managing director, Ankur Aggarwal, said in a statement. He added that the deal is aimed at accelerating innovation across both chemical and biological domains of crop protection.FMC will continue to receive all cash generated from the ongoing operation of the India business until closing, primarily through monetization of working capital.

Subscribe to enjoy similar stories.Ever since coming to power more than a quarter-century ago, Russian President Vladimir Putin built a new state religion around May 9, the anniversary of the Soviet victory over Nazi Germany and the holiest day in the Russian calendar.On Saturday, Putin will for the first time preside over a Victory Day parade held as his war on Ukraine has exceeded the length of the Soviet Union’s war on the Nazis.He has no victories to celebrate. Persistent Ukrainian drone strikes across Russia, including on the capital, have forced Putin to ask for a cease-fire for the duration of the festivities.

Subscribe to enjoy similar stories.KKR-backed InCred Holdings Ltd, primarily operating through its material subsidiary InCred Finance, has filed its updated draft red herring prospectus (DRHP) with the markets regulator.The initial public offering (IPO) size is likely to be around ₹3,000 crore and value the firm at up to ₹15,000 crore, two people aware of the matter told Mint.The offering comprises a fresh issue of equity shares totalling ₹1,250 crore and an offer for sale of up to 99 million shares from existing investors, as per the updated DRHP filed with the Securities and Exchange Board of India (Sebi).Shareholders participating in the process include KKR India Financial Investments Pte, MNI Ventures, MEMG Family Office LLP, and V’Ocean Investments Ltd.The company said it may also consider a pre-IPO fundraise of up to 20% of the fresh issue size, which comes up to ₹250 crore, and then reduce the fresh issue size proportionately.The Mumbai-based firm, which had ​confidentially filed draft papers in November 2025, intends to use the net proceeds to increase InCred Finance's capital base, specifically to strengthen tier-I capital and support onward lending.Founded by former Deutsche Bank AG executive Bhupinder Singh in 2017, InCred Holdings now operates as a holding company for the same.

Subscribe to enjoy similar stories.Aditya Birla Sun Life Asset Management Co. is raising a ₹2,000 crore alternative investment fund (AIF) that will target the stocks of mid- and small-cap companies, joining a growing list of asset managers targeting wealthy investors with hedge fund-style products.The fund, ABSL Select Sector Fund, will open with a base corpus of ₹1,500 crore and a greenshoe option of ₹500 crore, executives at the Mumbai-based firm said.

Subscribe to enjoy similar stories.At 65, Vijaya Chakravarty thought she was ready to retire. After a long career as a landscape designer, the idea of slowing down seemed natural. But retirement, as the 72-year-old writer and nature educator says, turned out to be less of an ending and more of a reinvention.Today, retirees like Chakravarty are moving beyond quiet sunset years and turning decades of experience into second income streams.

Subscribe to enjoy similar stories.Representatives of the Association of NSE Members of India (ANMI) met with central bank officials on Wednesday, seeking a relaxation of an imminent regulatory restriction on lenders funding capital market proprietary traders, arguing that not all such trades are speculative, according to a person aware of the discussions.While Reserve Bank of India (RBI) officials heard out the ANMI delegation, they offered no commitment , he said, requesting anonymity.While confirming the meeting, an ANMI official said, "A lot of things get discussed. It's unfair to be point-wise and specific about what is discussed or not." "With due respect, everything discussed in a closed room is not open to transmission everywhere," the official added.The meeting, requested for by the brokers' body, came after the central bank on 30 March deferred its 13 February circular on banks' capital markets exposure for three months through 1 July.

Subscribe to enjoy similar stories.The Securities and Exchange Board of India (Sebi) plans to let online bond platform providers (OBPPs) offer products from Gujarat International Finance Tec-City (GIFT City), but early signals suggest platforms may move cautiously.In a consultation paper issued on Tuesday, the markets regulator recommended changes aimed at easing business conditions for OBPPs while widening the range of products they can offer. Mint explains what these changes are and whether OBPPs are likely to tap the opportunity.Sebi has proposed allowing OBPPs to offer products regulated by the International Financial Services Centre Authority (IFSCA), such as overseas debt investments, that aren’t easily accessible to most Indian investors using digital platforms.

Subscribe to enjoy similar stories.India’s securities enforcement framework has long faced a contradiction. Parliament has progressively introduced minimum penalties to strengthen deterrence. At the same time, it has retained broad adjudicatory discretion through mitigating factors.

Subscribe to enjoy similar stories.Recently, I attended a lecture on ‘Long-term missions in a short-term world’ by S. Gurumurthy. To me, the biggest example has been China.

Subscribe to enjoy similar stories.Just a few weeks ago, the case for gilt funds, which hold government bonds with long tenures, seemed compelling.A sharp rise in government bond yields had made valuations attractive, market sentiment had turned very pessimistic, and several fund managers argued that much of the concern around elevated borrowing and supply pressures was already priced in.Government bond yields rose amid inflation fears stoked by the West Asia war. A rise in yield means a drop in prices, making gilt funds attractive.

Subscribe to enjoy similar stories.Representatives of the Association of NSE Members of India (Anmi) are scheduled to meet Reserve Bank of India officials on Wednesday to seek a relaxation on recent measures which effectively bar banks from funding proprietary traders for capital markets trades, two people aware of the matter said.The meeting, requested for by ANMI, comes after the central bank on 30 March deferred its 13 February circular on banks' capital markets exposure for three months through 1 July. Prop traders are brokers who trade for themselves."There will be a meeting between three to four members of Anmi and relevant RBI officials," the first person said.

Subscribe to enjoy similar stories.DUBAI—President Trump chose to look the other way after Iran launched three salvos of missiles and drones into the United Arab Emirates, one of America’s main Middle Eastern partners, despite a cease-fire he negotiated nearly a month ago.The likely conclusion in Tehran, Gulf governments fear, is that further escalation pays off because Trump is so intent on extricating himself from the war that he will ignore renewed Iranian attacks on America’s regional allies.European and Asian nations—allies and strategic adversaries alike—are watching this closely, too.Ever since the war began on Feb. 28, Iranian leaders have frequently repeated a phrase, attributed to the deposed Egyptian president Hosni Mubarak, that “those who wrap themselves in America are naked.” The feeling in the U.A.E.

Subscribe to enjoy similar stories.For a little over two months now, the world has speculated on the impact of the Israel-US-Iran war on the world economy. As the war’s disruption stretched on, concern began turning into panic over energy and food security. India is in a particularly vulnerable position—both directly, given its high energy dependence on West Asia, and indirectly due to the ripple effects of various impacts across the world.India’s large import dependence makes adaptive responses to economic and social impacts of the war enormously challenging, especially in the immediate time-frame of two years.

Subscribe to enjoy similar stories.Bharat Heavy Electricals Ltd’s (BHEL) shares have gained about 8% in the past two trading sessions, and also hit an all-time high of ₹399 apiece on Monday, surpassing the previous all-time high of ₹390 seen on 7 November 2007. Not without reason.The state-owned equipment manufacturer’s consolidated Ebitda jumped 111% year-on-year to ₹1,753 crore for the March quarter (Q4FY26).

Subscribe to enjoy similar stories.Interest rate margins may remain under pressure in the first half of the current financial year, as lenders continue raising funds at high costs to match soaring loan growth. In the March quarter, margins for most banks, especially the mid-sized lenders, were flat to slightly lower.Margins compress when banks cut loan rates in line with benchmarks, but continue paying deposit interest at assured rates until they mature.

Subscribe to enjoy similar stories.Once seen as competition to mutual funds, portfolio management services (PMS) providers are increasingly using them as building blocks. They are offering curated mutual fund (MF) portfolios to high-net-worth individuals (HNIs) who want the simplicity of MFs combined with professional, end-to-end portfolio management and execution.

Subscribe to enjoy similar stories.It has been a bruising week for the news cycle, starting with gunfire outside the White House Correspondents’ Dinner and ending with a geopolitical jolt from the United Arab Emirates’ (UAE) exit from the Organization of the Petroleum Exporting Countries (Opec).Let’s begin with Washington.President Donald Trump, Vice President J.D. Vance and other senior officials were rushed to safety after shots were heard outside the venue hosting the annual gathering of journalists and political leaders.

Subscribe to enjoy similar stories.The Iran war has offered China, Russia and North Korea—the U.S.’s biggest security threats—a rare opportunity to learn about the capabilities and limitations of the U.S. military.The three powers have witnessed certain new American weapons in combat for the first time, including lightning-fast precision airstrikes assisted by artificial intelligence.

Subscribe to enjoy similar stories.MUMBAI: The Centre is exploring partnerships with real estate-focused global investors to form real estate investment trusts (Reits) that will house optic fibre networks and land assets of central public sector enterprises (CPSEs), multiple people with knowledge of the matter said. The assets under consideration could also be repurposed for data centre infrastructure, potentially widening investor appeal.The plan, still at an early stage, is part of a broader push to accelerate government asset monetization following the Union budget for 2026-27, which proposed using Reit structures to recycle state-owned assets and attract institutional capital.

Subscribe to enjoy similar stories.Asset management companies (AMCs) largely held up their full-year earnings performance in FY26, but mark-to-market losses stemming from the West Asia conflict dented their latest quarterly profit. Listed AMCs recorded a sequential decrease in net profit or a loss in the January-March quarter.ICICI Prudential AMC reported a 16.8% quarter-on-quarter (QoQ) decline in net profit to ₹763 crore in Q4.