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Hello and welcome to Editor's PIX, a special daily podcast brought to you by Nalin Mehta,
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the Managing Editor of Money Control.
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This is a specially curated podcast that brings together the best of the days' exclusives
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from the stock markets, from the corporate world and the wider political economy from
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Money Control's 360 degree coverage.
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This voice has been generated using AI technology based on a voice clone of Money Control's
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Managing Editor Nalin Mehta.
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A month into the war with Iran, the strain on India's financial markets is building.
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Archishma Aya reports that the Rupees brief rebound after the reserve bank of India
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capped banks for expositions quickly faded, slipping to a record low vis-a-vis the US dollar,
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past 95 Rupees as pressures from soaring oil prices, capital outflows and aggressive
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The episode shows how constrained the RBI's room for maneuver has become.
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However, the strain wasn't confined to the currency markets, equities cracked too.
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J. Jaganath reports that the Sensex fell more than 2% amid crude surging above $114,
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a weakening Rupee and heavy selling in banks after RBI proposed curbs on their forex positions
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reports J. Jaganath.
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Alongside, India's market capitalisation has logged its steepest decline in three years,
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with the country's share of global market cap slipping below 3% for the first time in
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four years, reports Ravindra Sonavanay.
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A battle for the assets of an insolvent company has reached the top court.
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Pavan Burugula reports that Vedanta has approached the Supreme Court, seeking a stay on the Adani
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Group's resolution plan for J.P. Group's assets after the national company law appellate
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tribunal declined to intervene.
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Vedanta claims its bid offered superior value and that the committee of creditors erred
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in backing Adani's proposal.
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One company in the Tata Group is doing all the heavy lifting.
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Dividends of about 1.7 lakh crore rupees from Tata Consultancy Services since FY20 have
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helped Tata Sons absorb mounting losses at Air India and fund cash burn at Tata Digital
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reports Pavan Burugula.
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Since FY20, Tata Sons has received an average of 30,000 crore rupees annually in dividends
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from TCS along with 40,000 crore rupees through buybacks.
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Local regulations are tightening.
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Aihik Sur reports that the government's draft amendments to the IT rules released on
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Monday could bring user-generated news content under publisher style oversight.
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While users themselves won't be treated as publishers, platforms such as Facebook and
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Instagram may now have to comply with government directions on such content, including takedowns,
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warnings or disclaimers.
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The effects of the Iran war continue to impact the economy and companies.
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Arunima Baradwaj reports that at least 10 foreign flagged energy cargoes bound for India
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carrying LPG, crude and LNG remain stranded in the Persian Gulf, even as Indian flagged
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vessels are being allowed to pass through the strait of Hormuz.
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Meanwhile, the gas find in the Andaman Basin offers longer term promise, though commercial
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output may still be years away.
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The risks are not limited to energy.
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Danish Khan reports that India is preparing contingency plans as the conflict threatens
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sub-sea cable infrastructure, while Swaraj Bhagavanka writes that soaring airfares are already
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reshaping summer travel plans, pushing many Indians to reconsider or re-root their holidays.
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Economists, meanwhile, have cut their growth estimates for FY27 by 20 to 60 basis points,
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writes Priyansh Verma.
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In a conversation with Meghna Mital, Rakesh Mohan, a part-time member of the Prime Minister's
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Economic Advisory Council, said the Iran-linked energy shock will require a coordinated,
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full-spectrum policy response, spanning fiscal, monetary and administrative measures.
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He expects financial stress in India's aviation sector to worsen as rising fuel costs and
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route disruptions linked to the West Asia crisis begin to bite.
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And finally, amid the noise around growth narratives, venture capitalist Vinod Kostler
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weighs in on what matters.
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He told Tushar Goenka and Bhavya Dilip Kumar that while new-age AI startups use varied
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ways to report growth, what ultimately matters is the underlying cash flows.
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Kostler's comments come as vibe-coding start-up emergent, which raised around $30 million
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from Kostler Ventures has found itself at the centre of a debate over how AI companies
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should report revenue.
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That's all for today's episode.
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Thank you for tuning in.
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If you have any feedback or topics you'd like to discuss, feel free to reach out to
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Until then, stay informed and stay ahead with Money Control.