Shares of State Bank of India (SBI) jumped more than 3% on Friday after the public lender’s subsidiary and India’s largest asset management company, SBI Funds Management, filed its draft IPO papers with market regulator Sebi to raise funds through the primary market.

In an exchange filing, SBI announced its subsidiary has filed the draft red herring prospectus (DRHP) with Sebi for an IPO of up to 20.37 crore equity shares, entirely comprising an offer for sale. This means that the proceeds from the IPO will go directly to the shareholders, and the company will not receive any amount.

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As part of the OFS, promoter SBI will sell 12.83 crore shares (representing a 6% stake in the subsidiary), while Amundi India Holding will sell 7.53 crore shares. The total issue size in rupee terms, along with the price band, has not yet been disclosed.SBI Funds Management operates as the investment manager to its flagship mutual fund business and also offers portfolio management services (PMS), alternative investment funds (AIFs) and offshore advisory services. It served over 1.6 crore unique investors, as of December 2025, and manages mutual fund average assets under management (AUM) of Rs 6.06 lakh crore. The company holds a 15.4% market share by QAAUM, making it the largest AMC in India. SBI currently holds 61.86% stake in SBI Funds Management, while AMUNDI Asset Management holds 36.33% stake through a wholly owned subsidiary.

Kotak Mahindra Capital, Axis Capital, ICICI Securities and SBI Capital Markets are among the nine bankers handling the IPO.
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SBI shares have gained 2% in the past five days, but fallen more than 11% in the past month. The share price rose 26% in the past six months. India’s largest public sector lender posted strong results for the October-December quarter of the ongoing financial year 2026, with standalone net profit rising 24% YoY to Rs 21,028 crore and net interest income (NII) increasing 9% YoY to Rs 45,190 crore.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Turo is stepping up its push into London, targeting former Zipcar users with a capital-light car-sharing model that avoids the high costs associated with owning and maintaining a fleet.

The US-based peer-to-peer platform, which has operated in the UK since 2018, allows private car owners to rent out their vehicles directly to users. More than 2,000 London motorists are already listing cars on the platform, according to the company, as it seeks to capitalise on a gap left by Zipcar’s withdrawal from the capital at the end of 2025.

Unlike traditional car clubs, Turo does not own or lease vehicles. Instead, it acts as a marketplace, enabling short-term rentals between individuals. The approach significantly reduces capital expenditure and operational overheads, a key differentiator at a time when rising costs have squeezed fleet-based operators.

Rory Brimmer, Turo’s UK managing director, said the model unlocks value from underutilised assets. “Cars are idle most of the time,” he noted, describing them as assets that can generate income rather than sit unused.

Hosts set their own availability and pricing, with rates fluctuating based on demand and seasonality. Turo takes a commission of between 25% and 35%, depending on the level of insurance and services selected. The company says the average London host earns around £400 per month, although more active users can generate significantly higher returns.

Brimmer himself rents out his Audi Q3 for roughly half the month, earning close to £800, and said built-in safeguards such as insurance cover and DVLA-integrated licence checks are critical to building trust on the platform.

The company has moved quickly to capture displaced demand following Zipcar’s exit, launching a £120,000 advertising campaign across the London Underground and Overground networks. Brimmer described the market shift as a clear “opportunity” to attract users previously reliant on traditional car clubs.

Zipcar’s departure reflects the mounting pressure on fleet-heavy models. The company cited deteriorating financial performance, falling usage and rising costs, including energy, insurance and vehicle maintenance, as key factors behind its decision. Additional pressures, such as the extension of London’s congestion charge to electric vehicles, have further eroded margins.

The contrasting fortunes of the two models highlight a broader shift in the economics of shared mobility. While asset-heavy operators face rising fixed costs and utilisation challenges, marketplace-driven platforms like Turo benefit from scalability without balance sheet exposure.

Policy momentum in London continues to favour shared transport solutions. With lower car ownership rates than the national average, city authorities, led by Mayor Sir Sadiq Khan, are seeking to reduce private vehicle use and encourage alternatives such as car clubs and shared mobility schemes.

Turo’s UK expansion also comes as it recalibrates its global strategy. The company has recently shelved plans for a New York Stock Exchange listing, with chief executive Andre Haddad citing market conditions and a desire to remain private to continue investing in growth.

Despite that decision, the business has scaled rapidly. Revenues rose from $150 million in 2020 to $958 million in 2024, with 150,000 active hosts and 3.5 million users worldwide.

For the UK market, the divergence between capital-light platforms and traditional fleet operators is becoming increasingly pronounced, and as funding tightens and cost pressures persist, that distinction may define the next phase of urban mobility.

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Tata Power share price: Shares of Tata Power gained as much as 5% to their day’s high of Rs 418.50 on the BSE on Friday after Gujarat approved a revised power supply pact with the company, clearing the way for it to resume long-term supply from its 4-gigawatt Mundra plant, news agency Reuters reported.

The Economic Times couldn’t independently verify the report. Tata Power hasn’t informed the exchanges about this development either.

The imported coal-fired plant has not operated for the past six months after the government last year withdrew the emergency clause that compensates companies for generating power using expensive imported coal, Reuters added.

The deal comes as a relief to India, which is aiming to maximise power output from its coal plants amid an escalating Middle East conflict that is expected to trigger a gas shortage during the summer months.

The agreement is subject to approval from the federal power regulator and will take effect retrospectively from April 2025.

While the document did not disclose the exact pricing of the power supply, it noted that Gujarat has mandated that tariffs must not exceed those paid by other states, the report said.

Tata Power share price performance

Shares of Tata Power Company Limited have gained 8% over the past one month. However, the stock has remained largely range-bound over a longer horizon, rising just 3% in the last six months. On a year-to-date basis, the Tata Power share is up 7%, while it has delivered a 10% return over the past year.

Tata Power Q3 snapshot

The company’s profit after tax (PAT) rose 1% to Rs 1,194 crore, while nine-month PAT climbed to Rs 3,702 crore, up 7% year-on-year.

Revenue for Q3 FY26 stood at Rs 14,485 crore, down 4% year-on-year, compared with Rs 15,118 crore reported in the same period last year, Tata Power said in a press release. Meanwhile, nine-month revenue came in at Rs 47,719 crore, up 1% YoY.

EBITDA for the quarter grew to Rs 3,913 crore, up 12% from Rs 3,481 crore posted in the corresponding quarter of the previous financial year.

During the quarter, Tata Power executed around 1.3 GW of renewable projects, taking cumulative renewable EPC execution past the 10 GW milestone. The company’s total installed capacity now stands at 16.3 GW, underlining its expanding presence in clean energy infrastructure.

Shares of Bajaj Finance extended their decline for the second consecutive session on Friday and have declined nearly 18% in March so far as the war between Iran and Israel-US spooked investors. This comes as experts highlight the prolonged geopolitical conflict’s possible macroeconomic impact on India.The war between Iran and Israel-US is about to enter its fourth week, which has rattled markets, with Dalal Street being no exception. A significant portion of investors’ wealth has been wiped off since the beginning of the war, as rallying oil prices and the gas crisis weighed.

If the Middle East conflict continues to push up energy prices and disrupt supplies, India could face pressure on the rupee, higher inflation and a widening current account deficit, Moody’s Ratings had said. “Costly energy imports would weaken the rupee, raise inflation, worsen the current account balance and complicate monetary policy as well as fiscal management if they lead to expanded subsidies to help offset the economic shock,” it added.

“But a prolonged disruption in navigation through the Strait of Hormuz, beyond our baseline of a few weeks, would likely trigger sustained supply shortages; prices averaging higher than USD 100 per barrel for Brent, the main international benchmark crude; higher inflation; tighter financial conditions; and slower global growth,” it further said. Rising inflation expectations will lead to concerns over the RBI having lower margin to ease monetary policy.

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“India is a resilient country with strong fundamentals. While we have war raging on, Indians understand the challenges and are willing to work with the government. There will be a shortfall in economic activity in the short run, but we will make up for it in the coming months,” said Union Commerce and Industry Minister Piyush Goyal during a fireside chat with CNBC-TV18 earlier this month.

Notably, some ships have been able to pass through the Strait of Hormuz, easing oil prices slightly today. Yet, worries over the continuing war are keeping investors on edge.
The recent decline in Bajaj Finance’s share price comes amid an overall drop in financial services and banking stocks. Bajaj Finance shares have declined more than 20% in the past one month, wiping off more than Rs 1 lakh crore from its market capitalisation since the beginning of the war in early March to fall to nearly Rs 5 lakh crore.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Oscar-winning actress is set to star as the female lead in the upcoming “The Lord of the Rings: The Hunt for Gollum,” marking her entry into one of cinema’s most iconic fantasy franchises after previously turning down a role in Peter Jackson’s original trilogy.

The announcement, reported March 11 by industry outlets including Deadline and Variety, comes as Winslet continues a prolific phase in her career. Directed by Andy Serkis, who reprises his motion-capture role as Gollum, the film is scheduled to begin principal photography in New Zealand from May through October 2026, with a planned release date of Dec. 17, 2027.

Sources close to the production described Winslet’s role as the female lead, though specific character details remain under wraps. Jackson, who helmed the groundbreaking 2001-2003 trilogy, has been involved in development alongside Serkis, and reports indicate efforts to secure Winslet spanned much of 2025.

Winslet’s casting follows her recent work in James Cameron’s “Avatar” sequel “Avatar: Fire and Ash,” which wrapped prior to this announcement. Her addition to the Middle-earth saga has generated significant excitement among fans, given her history of powerful, transformative performances in period dramas, biopics and intense character studies.

The news caps a year of bold career moves for the 50-year-old British actress. In late 2025, Winslet made her feature directorial debut with the intimate family drama “Goodbye June,” which she also produced and starred in. Written by her son Joe Anders when he was 19, the film explores themes of loss, grief and family bonds, drawing from personal experiences including the death of Anders’ grandmother.

Released in select theaters in December 2025 and streaming on Netflix shortly after, “Goodbye June” features a stellar ensemble including Helen Mirren, Toni Collette, Amy Adams, Andrea Riseborough and Timothy Spall. Winslet has described the project as a deeply personal milestone, undertaken in her 50th year as a deliberate step toward creative control.

In interviews promoting the film, Winslet spoke candidly about the challenges and rewards of directing. She emphasized creating a set environment rooted in “integrity, grace and kindness,” drawing on lessons from her decades as an actor. She convinced Mirren to join by persuading her to break one of her personal rules, though details of that conversation remain private.

Winslet also reflected on the emotional toll of past roles. In a January 2026 appearance on the “Lessons from Our Mothers” podcast and other outlets, she revealed needing “proper help” after portraying detective Mare Sheehan in the 2021 HBO limited series “Mare of Easttown.” The critically acclaimed performance earned her widespread praise, but Winslet admitted the role left her “a bit mad,” prompting her to seek support to process the intensity.

The actress has been vocal about broader industry issues. In recent interviews, she criticized the “terrifying and devastating” prevalence of plastic surgery and the pressure on women in Hollywood, including the rise of weight-loss drugs. She has long advocated for body positivity, drawing from early career experiences where she faced harsh commentary about her appearance.

Winslet’s journey in the spotlight began with her breakout in 1994’s “Heavenly Creatures,” followed by global fame as Rose DeWitt Bukater in 1997’s “Titanic.” Despite the film’s massive success, she has spoken about the invasive media scrutiny that followed, describing it as “appalling” in a December 2025 BBC interview. She coped by focusing on personal grounding — “a good meal and a good poo,” as she quipped — and prioritizing family.

Beyond acting and directing, Winslet has ventured into producing and narration. She narrated the Prime Video documentary “Finding Harmony: A King’s Vision,” premiering in February 2026, praising King Charles III for uniting diverse communities. She also appeared in promotional discussions for festive projects, nodding to her enduring association with “The Holiday” (2006), whose iconic cottage continues to captivate fans.

As Winslet prepares to head to New Zealand for “The Hunt for Gollum,” the project represents a full-circle moment. Having declined involvement in the original “Lord of the Rings” films, her decision to join now underscores her ongoing evolution as an artist unafraid of epic-scale storytelling.

Industry observers anticipate the film will draw on the visual and narrative legacy of Jackson’s trilogy while introducing new elements centered on Gollum’s pursuit. Serkis, known for his groundbreaking performance work, brings a unique perspective as director.

For Winslet, the role adds another layer to a career defined by versatility — from the emotional depths of “The Reader” (for which she won the 2008 best actress Oscar) to the quiet strength of “Lee” (2023), where she portrayed war photographer Lee Miller and took on producing duties.

As production looms, Winslet’s fans and the fantasy community await further details on her character and how she will inhabit the world of Middle-earth. With her recent directorial success and outspoken advocacy, the actress continues to redefine what it means to thrive in Hollywood on her own terms.

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Another client of the firm, Gerardo Vece, from Buckinghamshire, told the BBC: “I have oil and gas investments which are leveraged and designed to be held for less than one day, so they are very volatile right now, and I can’t trade them online or over the phone or even access my account.”

BRISBANE, Australia — Former Brisbane Lions captain and three-time premiership hero Jonathan Brown is recovering from surgery to remove a low-grade brain tumour, the AFL great announced Friday in a heartfelt social media post that has drawn an outpouring of support from the football community.

The 44-year-old Brown, widely regarded as one of the Brisbane Lions’ all-time greats, underwent the procedure on Wednesday after a routine scan revealed a shadow on his brain that turned out to be the tumour. He described the outcome as positive and said he plans to share more details once he has recuperated, but for now is focusing on rest and recovery.

“After undergoing a routine scan, I was recently made aware of a shadow on my brain that turned out to be a low-grade brain tumour,” Brown wrote on Instagram alongside a photo from his hospital bed, showing him embracing his wife Kylie with a bandage visible on his head. “I underwent surgery Wednesday with a positive outcome.

“I understand a surgery of this nature creates interest and once I have recuperated, I will share my experience but for now I need to take some time to rest and recover.”

The news sent shockwaves through the AFL world, where Brown remains a beloved figure both for his on-field dominance and his post-retirement work as a respected television commentator on Fox Footy. Colleagues and former teammates quickly rallied with messages of support.

During Friday night’s Fox Footy broadcast, co-host Garry Lyon delivered a touching tribute, saying, “We send you our love, big fella. Take it easy, rest up, recuperate and we look forward to seeing your ugly mug back on here in the not too distant future.” Lyon described Brown as “one of the genuine good blokes of footy,” echoing the sentiment shared across social media and fan forums.

Brown’s career with the Brisbane Lions spanned from 2000 to 2014, during which he played 246 games, kicked 594 goals and captained the club. He was a key member of the Lions’ historic three-peat premiership sides in 2001, 2002 and 2003 under coach Leigh Matthews. Known for his powerful marking, accurate goal-kicking and leadership, Brown earned All-Australian honours four times and finished second in the Brownlow Medal in 2007.

His retirement in 2014 came after a series of concussions, a reminder of the physical toll the game can take. Brown has since become a prominent voice in media, offering insightful analysis while maintaining close ties to the Lions and the broader AFL community.

The discovery of the tumour during a routine medical check-up highlights the unpredictable nature of health issues that can affect even the fittest former athletes. Low-grade brain tumours, while serious, are often slower-growing and more treatable than higher-grade varieties, with surgery frequently offering a strong prognosis when caught early.

Brown’s announcement comes at a time when the AFL continues to grapple with player welfare concerns, including concussion management and long-term health impacts. His experience may prompt further discussion about regular health screenings for retired players.

The Brisbane Lions issued a statement expressing their support. “The entire Lions family is behind Browny during this time,” the club said. “He’s been an inspiration on and off the field, and we’re confident he’ll approach his recovery with the same determination that made him a champion.”

Tributes poured in from across the league. Former teammates, rival players and fans flooded social media with messages wishing him a speedy recovery. Many highlighted Brown’s humility and warmth, qualities that have endeared him to generations of supporters.

James Brayshaw, another Fox Footy personality, added his voice to the chorus of well-wishes, calling Brown a “true legend” whose resilience would carry him through this challenge.

Brown’s family has remained by his side throughout the process. Kylie Brown, his wife of many years, appeared in the hospital photo, underscoring the personal support network bolstering his recovery.

As Brown begins the rehabilitation phase, medical experts note that recovery from brain tumour surgery can vary depending on factors such as the tumour’s location, the extent of the procedure and individual health. Patients often require time to regain strength, manage potential side effects and resume normal activities.

The former forward’s decision to go public reflects his straightforward approach, a trait that defined his playing days. By sharing the news, he aims to reduce speculation while emphasizing privacy during his initial healing period.

The AFL community has a long history of rallying around its own in times of adversity. From past instances of players facing serious illnesses to recent welfare initiatives, the sport prides itself on solidarity.

Brown’s case serves as a poignant reminder of life’s fragility, even for those who once seemed invincible on the field. His positive outlook and the early success of the surgery offer hope to others facing similar battles.

As he rests and recuperates, the football world waits patiently for his return to commentary or whatever path he chooses next. For now, the focus remains on his health and the love pouring in from every corner of the game.

Jonathan “Browny” Brown, the big-hearted Lion who delivered so much joy to fans, now asks only for time and space — a request the entire code is happy to honour.