Author: Sreelatha M

Categories
1 Minute-Read

WhatsApp faces outage, media sharing hit

WhatsApp users across several countries faced a temporary outage that disrupted the sharing of photos, videos, stickers and other media.

Thousands of users reported failed uploads, while text messages continued working for many. The disruption led some users to switch between Wi-Fi and mobile data or restart their phones, initially assuming the problem was with their internet connection.

Outage reports later began declining, suggesting services were returning to normal. Separately, some Indian users reported seeing “Account in review” notifications.

WhatsApp said its enforcement systems can sometimes make mistakes and that affected accounts are restored as quickly as possible.

Read more

Categories
Beyond

Zee says SEBI order won’t hit ₹3,144 cr fundraise

Zee Entertainment Enterprises Ltd (ZEEL) has said a recent order by the Securities and Exchange Board of India (SEBI) will not directly affect its proposed ₹3,144-crore fundraise, even as legal experts warn that the regulatory action could make the capital-raising exercise difficult to execute.

The company said it is reviewing the SEBI order and has sought advice from legal experts. Zee maintained that it remains committed to completing the fundraising plan, which received shareholder approval just days before the regulator’s action.

“The company firmly believes that the order from SEBI has no direct bearing on the fund-raising exercise,” ZEEL said in a statement. It added that it would take all necessary steps to complete the issue and strengthen its financial position.

The statement comes after SEBI issued a final order on July 31 in a case involving the alleged unauthorised use of a ZEEL property in Hyderabad as collateral for loans raised by promoter-linked Essel Group entities.

Under the order, SEBI has barred ZEEL from accessing the securities market for two months. Founder and Chairman Emeritus Subhash Chandra and Managing Director and CEO Punit Goenka have separately been prohibited from buying, selling or otherwise dealing in securities, directly or indirectly, for one year.

The regulator has also imposed a combined monetary penalty of ₹1.48 crore on the company and the two individuals. SEBI said the property was used as security without the required approvals from the company’s board, audit committee and shareholders and that the arrangement was not adequately disclosed.

The timing has created an unusual situation for Zee. On July 31, the same day SEBI issued its order, ZEEL shareholders approved a proposed promoter-led capital infusion of about ₹3,143.5 crore.

The fundraising involves the issue of up to 24.95 crore fully convertible warrants to promoter group entity Sunbright Mauritius Investments Ltd at ₹126 per warrant. If converted, the warrants could give the promoter group a stake of up to 23.79% in Zee, according to the shareholder approval.

The structure requires the promoter entity to initially pay 25% of the issue price, with the balance payable when the warrants are converted into equity shares. The warrants can be converted within 18 months of allotment.

Zee has said the money will help strengthen its financial position and support investments across areas including digital entertainment, sports broadcasting, content, live entertainment and other growth initiatives. The company has also been expanding its presence in areas such as animation, visual effects and gaming.

However, the key question now is whether Zee can legally proceed with the fundraising while the SEBI restriction remains in force.

Legal experts cited by market reports have pointed to a potential conflict between the company’s shareholder approval and the regulator’s market-access restriction. Since ZEEL itself has been barred from accessing the securities market for two months, the order could create an immediate hurdle for the proposed preferential issue.

Sumit Agarwal, founder and partner at RegStreet Law Advisors, said the SEBI order creates a “serious implementation risk” for the fundraise. He noted that the restrictions also apply to Chandra and Goenka, who face a one-year prohibition from dealing in securities.

Agarwal said that even after ZEEL’s two-month restriction ends, questions could remain around the promoter-controlled entity subscribing to the issue. Depending on how the matter develops, the fundraising could be delayed, restructured or require fresh regulatory approvals and pricing.

Another securities-law practitioner, Anand Kankani, described the situation as unusual because the SEBI order came on the same day shareholders voted on the fundraising proposal.

He also pointed out that public shareholders own about 96% of ZEEL, making the proposed capital infusion particularly significant for investors. If the regulatory restriction prevents the company from raising funds, public shareholders could ultimately be affected, he said.

Zee, meanwhile, appears to be preparing to challenge or otherwise respond to the regulator’s findings. The company said it would take the required measures in accordance with law and protect the interests of its stakeholders.

In a separate filing, ZEEL said it had become aware of media reports about the SEBI order on July 31 and August 1, but the complete order became available only after it was uploaded on SEBI’s website on August 1. The company said the order was formally served on it at 8 pm on August 1 and that it was evaluating its contents and possible options.

The proposed ₹3,144-crore promoter fundraise is intended to provide additional capital for that next phase. But the SEBI order has introduced a regulatory complication that Zee will now have to resolve before the plan can move forward smoothly.

For investors, the immediate focus will be on Zee’s legal response, whether it seeks relief from the Securities Appellate Tribunal (SAT) and whether the market-access restriction is stayed or modified.

Zee remains confident that the SEBI order does not directly derail the fundraising exercise. Yet the final outcome will depend not only on shareholder approval, but also on the company’s ability to navigate the regulatory restrictions and secure the necessary legal relief, if required.

 

 

Categories
Corporate

ITC shares rise 4% as cigarette volumes show resilience

ITC shares bounced back sharply on Monday, August 3, after analysts found some comfort in the company’s better-than-feared cigarette volumes despite a steep hit to earnings from higher taxes. The ITC share price climbed as much as 4% to ₹292.45 on the BSE in early trade, making the stock one of the top gainers on the Sensex.

The rally came even though ITC’s June-quarter results showed a significant decline in profitability. Investors appear to be looking beyond the weak Q1 FY27 numbers and focusing instead on whether the worst of the cigarette tax shock is now behind the company.

That shift in sentiment is important for ITC, which has faced considerable pressure since the government announced higher taxes on cigarettes. The stock had fallen around 30% in calendar 2026 up to July 31 and touched a 52-week low of ₹275 on June 4. Against that backdrop, Monday’s recovery reflects renewed hopes that the company can gradually rebuild cigarette earnings.

The biggest positive from the Q1 results was cigarette volume. ITC’s cigarette volumes declined by around 4-5% during the April-June quarter, according to analysts at ICICI Securities. That was significantly better than the 8-10% decline the Street had expected.

For investors, the volume number matters because it suggests that consumers have not moved away from ITC cigarettes in large numbers despite higher prices. It also indicates that the company’s strategy of raising prices gradually may be helping it protect its market share.

The cigarette business, however, remains under pressure. ITC’s cigarette earnings before interest and tax, or EBIT, declined 35% year-on-year during Q1 FY27. The decline was particularly sharp in April, but profitability improved month-on-month as staggered price increases started taking effect.

ITC has not passed the entire tax burden on to consumers at one time. The overall tax impact on the cigarette business is about 35%, while the company has so far passed on roughly two-thirds of that increase through price hikes.

That leaves ITC with more pricing action ahead. Analysts expect the company to continue raising cigarette prices gradually through the second and third quarters of FY27. While this could put some additional pressure on cigarette volumes in the near term, the strategy is also aimed at protecting demand and limiting the shift towards cheaper or illegal cigarettes.

Nomura has taken a more optimistic view of the recovery. The brokerage expects gradual price hikes to improve ITC’s unit economics while keeping the impact on volumes manageable. It expects ITC to bring cigarette EBIT per stick back towards pre-tax-hike levels by Q4 FY27.

That is a much faster recovery than Nomura had previously anticipated. The brokerage has raised its target price for ITC to ₹340 from ₹300 and upgraded the stock, reflecting what it sees as a more favourable risk-reward balance. Nomura expects cigarette volumes and EBIT to decline 5% and 20%, respectively, in FY27, before recovering in FY28.

ICICI Securities, meanwhile, expects cigarette volumes to face greater pressure in Q2 and Q3 as more of the tax increase is passed on through prices. However, it expects the business to start seeing margin recovery from Q4 FY27 as the higher prices and volumes begin to normalise.

The brokerage also pointed to encouraging trends outside cigarettes. ITC’s FMCG business continues to show strong margin improvement, helped by a better balance between pricing and volumes. The paperboards business is also recovering sequentially, supported by a more favourable input-cost environment.

The strength of ITC’s diversified business is becoming increasingly important for investors. While cigarettes remain the company’s biggest earnings driver, the FMCG portfolio, paperboards and other businesses provide additional support when the cigarette segment faces regulatory or tax pressure.

Still, not all brokerages are convinced that the recovery will be smooth. Motilal Oswal Financial Services retained a Neutral rating with a target price of ₹300. It said ITC’s slower-than-expected cigarette price increases could protect consumer volumes and reduce the shift to illegal cigarettes, but would also keep earnings under pressure in the near term.

The brokerage expects cigarette revenue and EBIT to remain volatile while ITC works through the transition. It also cautioned that pressure on the cigarette business could offset the benefits coming from the recovery in FMCG and paper businesses.

This leaves investors with a fairly clear set of numbers to watch in the coming quarters: cigarette volumes, the pace of price hikes and the recovery in cigarette margins. The immediate earnings picture may remain weak, but the market is increasingly willing to look beyond one difficult quarter.

For ITC, the challenge is now about finding the right balance. Passing on higher cigarette taxes too quickly could hurt volumes and push consumers towards cheaper alternatives. Moving too slowly, on the other hand, would prolong the pressure on margins and profitability.

The real test will come over the next two quarters. If ITC can gradually recover cigarette profitability without losing significant volumes, the current tax-related earnings setback could prove temporary. For now, the market appears to be betting that the worst may have passed and that ITC shares could have room to recover as the company works through the cigarette tax impact.

Categories
Corporate

Sensex rises 600 points, Nifty surpasses 24,750

Indian benchmark indices extended their winning run on Monday, August 3, as strong buying across key sectors lifted the Sensex by 600 points and pushed the Nifty 50 above the 24,750 mark. The rally reflected a combination of positive global cues, softer crude oil prices and growing optimism over corporate earnings.

The broader market also remained firm, with buying seen across several sectors as investors continued to take fresh positions in equities.

A sharp fall in crude oil prices provided an important boost to sentiment. Brent crude prices dropped after US President Donald Trump indicated that talks with Iran could take place, easing concerns over a wider escalation in West Asia. Lower crude prices are particularly positive for India, which imports a large portion of its oil needs. Cheaper oil can help contain the import bill, ease inflationary pressure and reduce input costs for several businesses.

The improvement in geopolitical sentiment also supported global markets and encouraged investors to return to riskier assets. For Indian equities, the combination of favourable global cues and strong domestic buying helped sustain the upward momentum through the session.

Among individual stocks, ITC was one of the prominent gainers on the benchmark indices. The stock advanced despite the company’s quarterly profit declining, with investors focusing on its operating performance and cigarette business. Divi’s Laboratories was another strong performer, gaining more than 3% as investors responded positively to its quarterly performance.

Financial stocks also contributed significantly to the market’s gains. Several banking and financial services stocks traded higher, helping the Nifty maintain its upward momentum. SBI, ICICI Bank and IndusInd Bank were among the stocks that attracted buying interest.

The broader market also witnessed strong stock-specific action. Urban Company surged around 16% after its quarterly results, highlighting the growing investor appetite for companies reporting strong business momentum. The gains in mid-cap and small-cap counters added to the overall positive tone in the Indian stock market.

However, not every stock participated in Monday’s rally. Zee Entertainment emerged as one of the biggest losers, with the stock plunging around 11%. The sharp decline came after market regulator Sebi imposed a penalty and barred the company’s CEO and founder from the securities market for one year over regulatory violations.

The fall in Zee Entertainment showed that stock-specific developments continued to influence trading even as the broader market remained firmly positive. Investors remained selective, particularly in stocks facing regulatory or company-specific concerns.

The ongoing Q1 earnings season was another key factor shaping market sentiment. Investors are closely watching quarterly results for signs of sustained earnings growth and stronger demand. Results from sectors such as banking, automobiles, pharmaceuticals and consumer businesses are expected to influence the direction of individual stocks as well as the broader market.

The market‘s recent gains have also been supported by expectations that domestic economic conditions will remain resilient. Strong consumption, improving corporate performance and continued investment activity have helped Indian equities maintain their appeal despite global uncertainties.

Monday’s rally, however, does not eliminate the possibility of near-term volatility. Investors will continue to track crude oil prices, developments in US-Iran relations, foreign institutional investor flows, the rupee and upcoming corporate earnings. Global market movements will also remain important as traders assess the impact of geopolitical developments and changing expectations around interest rates.

With the Nifty 50 now firmly above 24,750, market participants will watch whether the index can sustain the momentum in the coming sessions. The Sensex’s 600-point gain also reflects a renewed appetite for equities after recent bouts of volatility.

The market breadth also remained encouraging, with buying extending beyond the heavyweight stocks. Investors appeared more comfortable taking positions in sectors that could benefit from lower input costs and steady domestic demand. Oil-sensitive sectors gained from the decline in crude prices, while pharmaceutical and financial stocks also supported the broader indices.

At the same time, traders remained cautious about elevated valuations in parts of the market. The sharp moves in individual stocks following quarterly results showed that investors are increasingly differentiating between companies on the basis of earnings quality, growth prospects and management commentary. This could keep stock-specific volatility high through the earnings season.

For the coming sessions, the focus will remain on corporate results, foreign fund flows, crude oil prices and global market cues. Any sustained easing in geopolitical tensions could provide further support to Indian equities, while a reversal in crude prices or renewed global risk aversion could limit the market’s gains.

Categories
Technology

JioTag 2 brings Android, iPhone tracking for ₹1,249

Reliance Jio has launched the JioTag 2 in India, bringing a key upgrade to its Bluetooth tracker lineup: support for both Apple Find My and Google Find Hub. Priced at ₹1,249, the new Jio Bluetooth tracker is designed to help users locate everyday belongings such as keys, wallets, bags, luggage and other valuables.

The biggest attraction of the JioTag 2 is its cross-platform compatibility. Unlike earlier Jio tracking products that were designed around individual smartphone ecosystems, the new tracker can work with both Android and iPhone users. This makes it particularly useful for households where people use different smartphone platforms.

The launch comes as Bluetooth item trackers become increasingly popular among consumers looking for a simple way to recover misplaced belongings without investing in a dedicated GPS tracking device.

The JioTag 2 price in India is ₹1,249. The tracker is available in Black, Green and Red colour options, with sales beginning through online retail channels. Reports also indicate that select offers could bring the effective price down further.

At ₹1,249, Jio is positioning the device as an affordable alternative to premium Bluetooth trackers. The company is also attempting to make the product more versatile by supporting both major smartphone tracking ecosystems.

The JioTag 2 does not require a SIM card or a separate mobile data subscription. Instead, it uses Bluetooth connectivity and the wider device networks operated by Apple and Google to help locate a tagged object.

The support for Apple Find My and Google Find Hub is the defining feature of the JioTag 2.

For iPhone users, the tracker can be connected to Apple’s Find My network. Android users can use Google’s Find Hub to locate the tag. When the tracker is nearby, users can use their smartphone to locate it and activate its built-in alarm.

If the JioTag 2 is outside Bluetooth range, its location can potentially be updated when compatible devices participating in the relevant network detect the tag. This allows a misplaced item to be located even when the owner’s smartphone is not physically nearby.

This is different from GPS tracking. The JioTag 2 itself does not continuously determine its position through GPS. Instead, it depends on Bluetooth and participating devices to relay location information.

For consumers, that means the tracker is best suited to belongings that are frequently misplaced or carried around, rather than applications requiring continuous real-time location monitoring.

The new JioTag 2 features include a loud 120dB speaker that can help users locate an item when it is within Bluetooth range. Once activated through the relevant tracking service, the alarm can make it easier to find a tag hidden inside a bag, under furniture or among other belongings.

The device also supports Lost Mode, allowing users to take advantage of the broader tracking network when an item moves outside the immediate Bluetooth range.

Another useful feature is its replaceable battery. Reports indicate that the JioTag 2 can provide about one year of battery life, while the included spare battery can extend total usage to up to two years. Users can replace the battery instead of replacing the entire tracker.

The tracker also carries an IP64 rating for protection against dust and water splashes, making it suitable for everyday use with bags, luggage and other personal belongings.

The launch naturally puts the JioTag 2 vs AirTag comparison in focus. Apple’s AirTag remains closely integrated with the Apple ecosystem, while Jio’s latest tracker is attempting to appeal to a wider audience by supporting both Apple and Google networks.

The price is another major difference. At ₹1,249, JioTag 2 is positioned below Apple’s AirTag, although pricing can vary depending on offers and retailers.

The JioTag 2’s cross-platform support could therefore be particularly attractive to users who regularly switch between Android and iPhone devices or families that use a mix of both.

However, buyers should understand that neither Bluetooth trackers nor community-based finding networks are the same as GPS trackers. Their effectiveness outside Bluetooth range depends on compatible devices being available nearby.

Jio had previously introduced separate products aimed at different ecosystems, including JioTag Go for Android and JioTag Air for Apple’s Find My network. The JioTag 2 brings these capabilities together into one device.

That makes the latest launch more than a routine upgrade. For Jio, it represents an effort to remove one of the biggest inconveniences associated with Bluetooth trackers: choosing a product based on the smartphone platform being used.

For consumers, the proposition is straightforward. Attach the JioTag 2 to your keys, wallet, backpack or suitcase, connect it to your phone and use the relevant finding network when something goes missing.

With a ₹1,249 price tag, Apple Find My and Google Find Hub compatibility, a loud alarm, replaceable battery and IP64 protection, the JioTag 2 gives Indian consumers another option in the growing smart tracker and Bluetooth tracker market. Its biggest selling point, however, could be its ability to bridge the Android-iPhone divide in one affordable device.

Categories
Corporate

Tata Steel clears ₹33,870 cr NINL expansion plan

Tata Steel has approved a major ₹33,873-crore expansion of Neelachal Ispat Nigam Limited (NINL), marking one of its biggest bets on India’s long-term steel demand and strengthening its domestic growth strategy.

The company’s board has cleared the first phase of the NINL expansion, which will add 4.8 million tonnes per annum (MTPA) of steelmaking capacity. Once completed, the Odisha-based facility will have a total capacity of 6.2 MTPA. Tata Steel said the project has already completed its engineering phase and is at an advanced stage of readiness for execution.

The investment is aimed particularly at expanding Tata Steel’s long-products business, including branded steel products used extensively in construction, infrastructure and retail markets. The company sees NINL as an important platform for increasing its presence in higher-margin and value-added steel products.

The decision comes after a significant turnaround at NINL. Tata Steel acquired the Odisha-based company in 2022 for ₹12,100 crore, when the plant was facing financial and operational difficulties. Since then, the facility has been brought back to stable operations and has been running at its rated capacity for the past two years, according to the company.

NINL’s recent performance has strengthened the case for further investment. In FY26, the plant produced around 0.95 million tonnes of crude steel and delivered 0.91 million tonnes. While revenue moderated to ₹5,282 crore amid softer steel prices, its EBITDA improved to ₹1,236 crore from ₹1,067 crore a year earlier. The facility reported an EBITDA margin of about 23%.

During the June quarter of FY27, NINL generated EBITDA of ₹498 crore, giving it a margin of 29%. Tata Steel said the performance provides confidence in the proposed expansion.

NINL is strategically located in Odisha, close to Tata Steel’s Kalinganagar operations. The company also has access to a captive iron ore mine, giving the facility an important raw-material advantage as it expands.

The expansion is expected to play a central role in Tata Steel’s strategy to grow its long-products portfolio. These products include steel used in housing, construction, infrastructure and other applications.

Tata Steel said demand for its branded products remains strong, particularly in the retail market. Brands such as Tata Tiscon have continued to see strong growth, supporting the company’s decision to increase domestic long-product capacity.

The company has also pointed to the sizeable land bank available around NINL. According to Fortune India, the site has the potential to support capacity of up to 10 MTPA over the longer term. This gives Tata Steel room to develop NINL into a much larger steel hub over time.

The proposed expansion is therefore more than a simple capacity addition. It is intended to create a larger integrated manufacturing base for Tata Steel’s India operations and strengthen its position in value-added steel.

The NINL investment comes at a time when Tata Steel’s Indian operations are providing a strong cushion against difficulties in its overseas businesses.

For the April-June quarter of FY27, Tata Steel reported consolidated revenue of ₹60,794 crore and EBITDA of ₹9,370 crore. EBITDA increased 25% year-on-year despite a challenging global operating environment.

India remained the strongest part of the business. The India segment reported revenue of ₹36,989 crore and EBITDA of ₹9,908 crore, with an EBITDA margin of 27%. Domestic deliveries also grew strongly, with Tata Steel reporting an 11% year-on-year increase to 4.85 million tonnes.

The company’s consolidated profit after tax stood at ₹2,385 crore in the June quarter, compared with ₹2,007 crore a year earlier. Tata Steel’s India business helped offset pressure from its European operations, where operational disruptions and restructuring challenges continued.

Tata Steel is moving ahead with the NINL project while maintaining a close watch on its balance sheet.

The company spent ₹3,579 crore on capital expenditure during the June quarter. Its net debt stood at ₹84,173 crore at the end of the quarter, while net debt-to-EBITDA was 2.3 times. Group liquidity remained strong at ₹45,950 crore, including ₹13,221 crore in cash and cash equivalents.

The numbers indicate that Tata Steel has financial headroom to continue investing in India even as it manages restructuring and operational challenges in Europe.

The company has also been pursuing other domestic projects, including the ramp-up of its 0.75 MTPA electric arc furnace at Ludhiana and expansion of downstream facilities.

Tata Steel expects the proposed NINL expansion to be the first phase of a broader growth programme. The company has indicated that the facility’s location, land availability and raw-material access could support further expansion in the future.

The company also expects the merger of NINL with Tata Steel to be completed during FY27. The integration is expected to simplify the corporate structure and create operational synergies.

For Tata Steel, the ₹33,873-crore investment signals a clear strategic preference: expand where India’s steel demand is expected to remain strong, build scale in domestic manufacturing and move further into value-added products.

With NINL set to increase its capacity from its current level to 6.2 MTPA, the Odisha facility is poised to become an increasingly important part of Tata Steel’s India growth story. The project also underlines the company’s broader ambition to strengthen its domestic steelmaking footprint while building a more competitive and integrated portfolio for the years ahead.

Categories
1 Minute-Read

Maruti Suzuki’s Gujarat plant hits 1 mn capacity

Maruti Suzuki India has started commercial production at the fourth plant of its Hansalpur facility in Gujarat, adding 2.5 lakh units to its annual capacity.

The expansion takes the company’s total production capacity to 2.9 million vehicles and makes Hansalpur India’s largest single-location passenger vehicle manufacturing facility. The plant has an annual capacity of one million vehicles and will initially produce the Maruti Suzuki e VITARA, the company’s first electric vehicle.

The expansion strengthens Maruti Suzuki’s manufacturing and export capabilities as it prepares to meet rising domestic demand and accelerate its electric mobility plans.

Read More..

Categories
Beyond

Kevin Warsh faces rate-policy divide

Kevin Warsh is facing an early and unusually difficult test as chairman of the US Federal Reserve, after a sharp split emerged within the central bank over interest rates and the best way to control inflation.

The Federal Open Market Committee (FOMC) kept the federal funds rate unchanged at 3.5% to 3.75% at its July 28-29 meeting. But the decision was far from unanimous. Three officials voted for a 25-basis-point rate increase, leaving the final vote at 9-3. It was the first time since 1993 that three Fed policymakers dissented in favour of a rate hike.

The disagreement puts Warsh, who took over as Fed chair earlier this year, in a challenging position. His immediate task is not simply to decide where interest rates should go, but also to keep policymakers working together while maintaining confidence in the US central bank.

Warsh has repeatedly stressed the importance of price stability and has adopted a more data-driven approach to monetary policy. After the latest meeting, he indicated that the Fed would remain focused on bringing inflation back towards its 2% target. The central bank has kept rates unchanged throughout 2026 so far, as policymakers weigh persistent inflation against the health of the labour market and wider economic risks.

The three dissenters wanted rates to rise immediately, reflecting concern that inflation remains too high. The majority, however, preferred to wait for more evidence before tightening monetary policy.

That difference matters because the US economy is presenting the Fed with competing signals. Economic activity remains relatively solid, while productivity and capital investment have been strong. At the same time, inflation remains above the Federal Reserve’s 2% goal. The central bank has also been monitoring the impact of energy prices, geopolitical tensions and other supply-side pressures.

For households and businesses, the Fed’s decision has wider implications. Higher interest rates can make borrowing more expensive for consumers and companies, while keeping rates higher for longer can weigh on investment and spending. A premature rate cut, on the other hand, could risk allowing inflation to remain stubbornly high.

Financial markets are therefore watching Warsh’s every signal. Investors are trying to determine whether the July decision represents a temporary pause or the beginning of a longer period of tight monetary policy.

The bond market has already reflected some of that uncertainty. Treasury yields have moved higher this year, while investors have been reassessing expectations for the path of US interest rates. The Fed’s own July monetary policy report noted that market expectations had shifted towards higher rates, with investors at the time pricing the federal funds rate at around 4% by the end of 2026.

Warsh’s communication style is also attracting attention. Rather than offering strong forward guidance about future rate moves, he has indicated that the Fed should allow incoming economic data and financial conditions to shape decisions. That approach gives policymakers more flexibility, but it can also leave investors with fewer clear signals about what comes next.

The challenge is particularly important because the Federal Reserve’s credibility depends not only on its decisions but also on its ability to present a coherent policy message. A visibly divided FOMC can make markets more uncertain and complicate the transmission of monetary policy.

The disagreement does not necessarily mean the Fed is in crisis. Policymakers have always held different views about inflation, employment and interest rates. But the size and direction of the July split make it an important moment for Warsh’s leadership.

The chairman will also have to balance competing pressures from outside the Fed. President Donald Trump has previously pushed for lower interest rates, while Warsh has sought to emphasise the central bank’s responsibility for price stability. Maintaining the Fed’s policy independence will therefore remain an important part of his job.

The July meeting also showed how difficult the current economic environment has become. Policymakers must assess inflation without ignoring employment, economic growth, financial markets and geopolitical developments. The Middle East conflict, in particular, has added uncertainty around energy prices and inflation.

The Fed’s internal split could also shape expectations for the dollar, US Treasury yields and global markets. Any signal that policymakers are leaning towards higher rates could strengthen the dollar and push borrowing costs higher worldwide, while a shift towards rate cuts could have the opposite effect. For investors, the focus will now remain on upcoming inflation and jobs data, as well as how Warsh manages differing views within the FOMC.

Categories
Corporate

Kia Sorento India launch confirmed with new teaser

Kia has finally given its upcoming flagship SUV for India a strong identity. The South Korean carmaker has released a cryptic teaser that confirms the arrival of the Kia Sorento, its premium three-row SUV, in the Indian market.

Instead of revealing the SUV directly, Kia used a picture of Sorrento, the scenic coastal town in Italy. The location-based wordplay was enough to spark speculation, with Kia asking social media users to identify the place using Google Lens or an artificial intelligence assistant. The teaser effectively points towards the Sorento nameplate without revealing the vehicle itself.

The latest teaser comes shortly after Kia India indicated plans to introduce new hybrid and battery-electric vehicles in the country. It also follows the launch of the Kia Syros EV, highlighting the company’s growing focus on electrified vehicles in India.

The Sorento is expected to become Kia’s premium three-row SUV in India, sitting above the Seltos and Carens. It will give the company a larger presence in the premium SUV segment and cater to buyers looking for more space, technology and comfort.

The upcoming Kia Sorento India has already been spotted testing on Indian roads several times over the past few months. The repeated sightings have provided clues about the model that Kia is preparing for the market. Some dealerships have also reportedly started accepting unofficial bookings, although Kia has not officially opened bookings for the SUV. Reported token amounts range between Rs 20,000 and Rs 50,000, depending on the dealership.

Kia has not announced an official launch date yet. However, current reports suggest that the Sorento could arrive around late August or early September, potentially ahead of the important Dussehra-Diwali festive period. The SUV is expected to come to India through the completely knocked-down (CKD) route, with its estimated price positioned around Rs 45 lakh ex-showroom. These details, however, remain unconfirmed by Kia.

The Sorento measures 4,815 mm in length, 1,900 mm in width and 1,700 mm in height, while its wheelbase measures 2,815 mm. These dimensions give it a substantial road presence and enough space for a three-row cabin.

One of the biggest talking points around the Kia Sorento SUV will be its hybrid technology. Kia is expected to introduce a strong-hybrid powertrain for India, which would be a significant move for the brand. Reports indicate that the India-spec SUV could use a 1.6-litre turbo-petrol engine paired with an electric motor.

An all-wheel-drive system could also be offered. Kia may additionally consider a conventional petrol version, although the company has not confirmed the final engine lineup. A diesel engine is currently not expected to be part of the India-spec Sorento range.

Globally, the Sorento is offered with several powertrain options, including petrol, turbo-petrol, hybrid and plug-in hybrid configurations. For India, however, the hybrid version is expected to be the key attraction as Kia looks to combine the practicality of a large SUV with better fuel efficiency.

The design of the Sorento is also expected to play an important role in its appeal. The SUV features an upright front profile, T-shaped LED headlamps and Kia’s signature Tiger Nose grille. At the rear, a sharply raked windscreen and vertically positioned LED tail-lamps give it a distinctive appearance.

Inside, Kia is expected to maintain its reputation for offering a technology-rich cabin. The India-spec Sorento could feature dual 12.3-inch displays, a panoramic sunroof, ventilated front seats, multi-zone climate control, premium upholstery and powered front seats.

Other expected equipment includes a Bose audio system, a 360-degree camera and wireless Apple CarPlay and Android Auto connectivity. A Level 2 advanced driver assistance system (ADAS) could further strengthen the SUV’s technology and safety package. Kia, however, is yet to confirm the final India-specific feature list.

The arrival of the Kia Sorento in India will put it into a competitive premium SUV market. It is expected to take on established models such as the Toyota Fortuner and Skoda Kodiaq, while newer rivals including the Volkswagen Tayron could also be in its crosshairs. Other potential competitors include the Jeep Meridian, MG Majestor and Honda ZR-V.

Categories
Corporate

Sensex gains 50 points, Nifty holds above 24,350

Equity markets opened higher on Friday, with the Sensex gaining more than 50 points and the Nifty 50 holding above the 24,350 mark. Gains in financial and automobile stocks, led by Bajaj Finance and Mahindra & Mahindra, helped offset selling in information technology shares.

The Sensex rose around 50 points in early trade to move near 77,950, while the Nifty gained over 50 points and traded above 24,350. The positive opening came amid renewed foreign institutional investor (FII) buying, supportive global cues and optimism around corporate earnings.

Bajaj Finance emerged as one of the biggest gainers, with its shares rising sharply after the company reported strong June-quarter results. The stock gained as much as 7% in early trade, providing a significant lift to the financial services segment. Bajaj Finserv also traded higher.

Mahindra & Mahindra was another prominent gainer, with the stock rising around 2.5% after reporting a 7% year-on-year increase in standalone net profit to Rs 3,685 crore for the June quarter. The strong earnings performance continued to attract buying interest in the auto major.

Other financial and automobile stocks also supported the market, helping investors absorb losses in the IT sector.

The Nifty IT index, meanwhile, fell more than 2% in early trading as investors booked profits after its strong recent rally. Major IT stocks including Infosys, Tata Consultancy Services (TCS), HCL Technologies and Tech Mahindra were among the losers.

The decline in IT stocks came despite the sector’s strong performance in July. The Nifty IT index has gained substantially during the month, prompting some investors to lock in profits. The fall therefore appeared more like a sector-specific correction rather than a broad deterioration in market sentiment.

Market breadth remained positive, with a larger number of stocks advancing than declining on the NSE. Financials and automobiles were among the sectors attracting buying interest, while IT remained the key drag on the indices.

Foreign investor activity also provided support to the Indian stock market. FIIs have returned to buying equities in recent sessions, helping improve sentiment after a period of sustained selling pressure. Domestic investors have also remained active, providing additional stability to the market.

The June-quarter earnings season remains a major focus for investors. Strong results from companies such as Bajaj Finance and M&M have encouraged stock-specific buying, although expensive valuations and profit booking remain concerns in sectors that have rallied sharply.

For the broader market, the immediate focus is on whether the Nifty can sustain its position above 24,350 and move towards the 24,500 level. Analysts have identified the 24,000-24,100 zone as an important support area, while 24,500-24,600 remains a key resistance zone.

Investors are also tracking movements in crude oil prices, the rupee, global markets and geopolitical developments. Any sharp rise in crude prices could affect inflation expectations and corporate margins, while a stable currency and easing global concerns could support further buying.

For now, the Sensex and Nifty appear to be drawing strength from a combination of earnings, selective sector rotation and renewed foreign buying.

Bajaj Finance, M&M and other financial and auto stocks are leading the gainers, while Infosys, TCS, HCL Technologies and other IT names are facing selling pressure. The direction of the Sensex and Nifty through the session will depend largely on whether buying in financials and other heavyweight stocks can continue to absorb the IT-led losses.

The IT correction has created some volatility, but strong financial and auto stocks are preventing it from turning into a broader market sell-off.