The unlisted shares of Zepto Limited have fallen nearly 30% over the past month despite the company securing regulatory approval for its IPO, highlighting growing caution among investors amid volatile market conditions.

Zepto’s shares, which were changing hands at around Rs 52 in the unlisted market a month ago, have dropped to about Rs 40, according to dealers tracking pre-IPO transactions.

The decline comes even as the quick commerce startup recently received approval from Sebi to launch its much-awaited public issue. The company had taken the confidential route to file the DRHP but may soon file its papers publicly in June, according to Bloomberg.

Analysts said the fall reflects weakness in the unlisted market and a broader reassessment of valuations rather than any company-specific development. The company is being valued at around Rs 38,000 crore in the dealer market.

Several companies that had planned public offerings this year have either delayed listings or adopted a wait-and-watch approach because of volatility in equity markets, geopolitical tensions and uncertainty around investor demand.

The benchmark Nifty has remained under pressure for much of 2026, while foreign institutional investors have continued to remain cautious on Indian equities amid concerns over crude oil prices, global growth and the earnings outlook.
The weakness in the secondary market for pre-IPO shares has also affected several startup names, with investors becoming more selective on valuations after a strong rally in the segment over the past two years.Zepto is preparing for a public market debut that could raise around $1.3 billion, or roughly Rs 11,000-12,000 crore, making it one of the largest internet IPOs since the listing of Swiggy.

If the issue proceeds as planned, Zepto could become the youngest venture-backed Indian startup to enter public markets, just four years after its founding.

The proposed offering is expected to comprise a substantial fresh issue of around Rs 11,000 crore along with an offer-for-sale component by existing investors.

The IPO assumes significance because it comes amid intensifying competition in India’s fast-growing quick commerce sector.

Zepto competes with Blinkit, owned by Eternal, as well as Swiggy Instamart, Flipkart Minutes and Amazon Now.

The listing is also expected to strengthen the company’s balance sheet at a time when the quick commerce industry continues to spend aggressively on expansion, dark stores and customer acquisition.

As of late last year, Zepto had around Rs 7,000 crore in cash, significantly lower than the roughly Rs 17,000-18,000 crore cash reserves reported by listed rivals Eternal and Swiggy.

The company raised $450 million in October last year at a valuation of $7 billion. Following the fundraise, it accelerated customer acquisition efforts through higher discounts and promotional campaigns as competition intensified across major cities.

Zepto had also completed its domicile shift from Singapore to India, a move increasingly adopted by venture-backed startups preparing for domestic listings.

The company has appointed a consortium of investment bankers including Morgan Stanley, HSBC, Goldman Sachs, Axis Capital, JM Financial, IIFL Securities and Motilal Oswal Financial Services to manage the public issue. The IPO is expected to hit the market in the July-September quarter of 2026.

While the recent decline in the unlisted share price may reflect near-term market caution, investors will closely watch the final valuation and broader market conditions when Zepto eventually launches what is expected to be one of the year’s most closely watched public offerings.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Suzlon Energy plans to challenge a recent Sebi order that imposed penalties of nearly Rs 29 crore on the company and several former executives over alleged accounting and disclosure violations. In an exchange filing, Suzlon said it intends to file an appeal before the Securities Appellate Tribunal (SAT) against the regulator’s order dated May 29.

“The findings of Sebi in the said order are related to the financial statements of the company from FY14 to FY18. The company will be filing an appeal before the Securities Appellate Tribunal in respect of the Sebi order,” the company said.

The development comes a day after Sebi imposed penalties on Suzlon and a number of former senior executives following a long-running investigation into the company’s historical financial reporting practices.

The market regulator levied a penalty of Rs 15.95 crore on Suzlon, while former executive Vinod R Tanti was fined Rs 5.75 crore and Girish R. Tanti was penalised Rs 5.45 crore. Former group CFO Kirti J. Vagadia was fined Rs 1.5 crore, while former CFO Amit Agarwal was directed to pay Rs 30 lakh.

Sebi action followed a forensic audit and investigation covering multiple financial years after the regulator received a complaint alleging irregularities in dealings involving subsidiaries and associate entities.

The regulator concluded that certain transactions between Suzlon and its subsidiaries had the effect of overstating profits and strengthening the appearance of the company’s financial position.
Among the issues examined were transfers of businesses and investments among group entities, accounting treatment of contingent liabilities, impairment reversals and disclosures made in financial statements.According to Sebi, some transactions involving subsidiaries resulted in substantial accounting gains being recorded without reflecting the underlying economic reality of the arrangements. The regulator also questioned the treatment of certain liabilities and fund flows between group entities, concluding that the company’s disclosures did not present a true and fair picture of its financial position during the period under review.

Sebi said accurate financial statements are critical because investors rely on them while assessing the health and prospects of listed companies. The regulator held that the violations warranted monetary penalties under provisions relating to disclosure norms, listing regulations and fraudulent and unfair trade practices.

Suzlon, however, has now moved to contest the findings before the appellate tribunal.

The company has undergone a significant turnaround over the past few years after overcoming a prolonged debt crisis and has emerged as one of the biggest beneficiaries of India’s renewable energy push. It recently reported strong operational performance and remains one of the country’s largest wind energy equipment manufacturers.

The appeal before the SAT will determine whether the regulator’s findings and penalties are upheld, modified or set aside. Until then, the Sebi order remains in force.

(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times.)

A frozen cheese bread product sold at Costco is being recalled over concerns it could be contaminated with salmonella, prompting the retailer to notify customers who purchased the affected items.

Champion Foods LLC announced a voluntary recall of certain batches of Motor City Pizza Co. 5 Cheese Bread after learning that an ingredient supplier had recalled milk powder because of a potential salmonella contamination concern.

According to the company, the recalled milk powder was supplied to a third-party manufacturer that produces a seasoning blend used in the product’s five-cheese sauce mixture.

Costco also sent notices to members who purchased the product, saying its records indicate they, or one of their add-on members, bought Motor City Pizza Co. 5 Cheese Bread between Feb. 6 and May 29. The wholesale club advised customers not to consume the recalled product and to return it to a local Costco warehouse for a full refund.

DELI MEAT, CUCUMBERS TOP LIST OF ‘REALLY RISKY FOODS’ YOU MIGHT HAVE IN THE FRIDGE

The recall affects both single-pack and two-pack versions of the frozen bread product.

The affected single-pack product carries UPC code 8 70375 00511 1 and includes sell-by dates ranging from Feb. 4, 2027, through April 21, 2027.

The affected two-pack product carries UPC code 8 70375 00509 8 and includes sell-by dates of Feb. 3, 2027; Feb. 4, 2027; Feb. 24, 2027; Feb. 25, 2027; March 10, 2027; March 11, 2027; March 18, 2027; and March 25, 2027.

5 OF THE TOP SOURCES OF FOODBORNE ILLNESS AND HOW TO PREVENT IT

Champion Foods said routine testing conducted by the seasoning blend manufacturer before the ingredient was used in production showed the batches tested negative for salmonella. The company said it nevertheless decided to issue the recall “out of an abundance of caution” for customer safety.

Costco’s notice stated that no illnesses or injuries related to the recalled products have been reported.

Salmonella is an organism which can cause “serious and sometimes fatal infections in young children, frail or elderly people, and others with weakened immune systems,” according to the U.S. Food and Drug Administration (FDA). Symptoms among healthy individuals may include fever, diarrhea, nausea, vomiting and abdominal pain.

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In rare and more serious cases, salmonella can spread to the bloodstream, potentially causing arterial infections, endocarditis or arthritis.  

FOX Business’ Bonny Chu contributed to this report.

Equity markets witnessed broad-based selling pressure on Friday following the IMD’s monsoon forecasts of 90% of the long-period average (LPA), raising concerns among investors. The prospect of deficient rainfall, coupled with the increasing likelihood of an El Niño weather pattern, has heightened fears of elevated food inflation in the coming months. However, the downside risk appears partially mitigated by the recent moderation in crude oil prices and bond yields. Additionally, global sentiment remains supported by expectations of a potential diplomatic breakthrough between the US and Iran, which has contributed to a rally in international markets.

Analysts say that in the near term, investor attention is expected to shift toward key domestic triggers, particularly the upcoming RBI monetary policy decision and GDP data release, which will provide further insights into the inflation trajectory and overall economic momentum.

Here are two stocks to buy on Monday

1) YES Bank – Buy | CMP: Rs 23.22 | Stop loss: Rs 22.5 | Target: Rs 25

Yes Bank shows strong bullish momentum as the price breaks decisively above the key horizontal resistance level at Rs 22.02. This breakout is supported by a noticeable volume expansion, confirming genuine market participation. The price is trading cleanly above the short- and long-term EMAs, which are fanning out in a bullish alignment, while the RSI rises above 60, signalling accelerating upward strength toward the descending trendline.

2) NBCC – BUY | CMP: Rs 100.3 | SL – Rs 95 | Target – Rs 110

NBCC (India) Limited exhibits a strong bullish reversal as price breaks above multiple short-term EMAs and tests the long-term blue EMA near 101.30. This upward shift is backed by a notable volume surge, indicating a clear influx of buyers at these levels. Meanwhile, the RSI has crossed above the 60 threshold, signalling accelerating positive momentum and confirming a strong structural turnaround from the recent bottom
(Virat Jagad is Sr Technical Research Analyst at Bonanza Portfolio)(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times.)

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NEW YORK — The New York Times Connections puzzle for Sunday, May 31, 2026, challenged players with a vibrant blend of everyday icons, sports terminology and clever wordplay, as solvers grouped 16 words into four thematic categories in the popular daily brain teaser.

Puzzle No. 1085 featured categories ranging from bright yellow objects to billiards equipment, sailor slang and a punny take on wood types. The solution encouraged both casual players and dedicated fans to think laterally across pop culture, sports and language.

Yellow Category (Easiest): Things That Are Yellow — Butter, Pikachu, Rubber Duck, School Bus. Green Category: Billiards Terms — Break, Cue, Pocket, Rack. Blue Category: Slang For Sailor — Jack, Salt, Sea Dog, Tar. Purple Category (Hardest): Kinds Of Wood Plus “S” — Sash (ash), Soak (oak), Spine (pine), Steak (teak).

The puzzle’s yellow group stood out for its visual appeal, connecting classic symbols of the color yellow. Pikachu, the beloved Pokémon character known for its electric yellow fur, joined childhood staples like the rubber duck and school bus, alongside the common food item butter.

Game Mechanics and Growing Popularity

Connections, created by Josh Wardle and acquired by The New York Times, requires players to sort 16 words into four groups of four based on shared themes. Correct groupings earn color-coded feedback: yellow for the simplest, followed by green, blue and purple for the most challenging.

Since its debut, the game has built a loyal audience alongside Wordle and other NYT Games offerings. Its appeal lies in the balance of straightforward associations and trickier lateral thinking, often sparking discussions on social media about missed connections or clever reveals.

On May 31, 2026, many players noted the puzzle’s accessible yet engaging difficulty. The billiards category tested knowledge of pool terminology, where “break” refers to the opening shot, “cue” is the stick, “pocket” the target and “rack” the triangular setup of balls.

The blue category highlighted nautical slang with historical roots. “Tar” and “salt” evoke old seafaring terms, while “sea dog” describes an experienced sailor and “jack” appears in phrases like “jack tar.”

The purple category provided the day’s wordplay twist, adding “S” to wood types: ash becomes sash, oak becomes soak, pine becomes spine, and teak becomes steak. This type of pun often separates strong solvers from others.

Player Reactions and Strategies

Social media and puzzle forums buzzed with reactions throughout the day. Many appreciated the yellow category’s straightforward nature, while others struggled with the purple group’s linguistic trick.

Effective strategies for Connections include scanning for obvious clusters first, such as colors, sports terms or professions, before tackling subtler links. Starting with potential categories like billiards or yellow objects often unlocks the grid efficiently.

Players in Seoul and other international hubs frequently engage during evening hours, turning the daily puzzle into a shared cultural ritual that blends English vocabulary practice with entertainment.

Broader Context in NYT Games

Connections joins a robust lineup from The New York Times Games team, which carefully curates puzzles to maintain freshness and fairness. Each daily edition offers a new challenge at midnight local time, fostering global participation across time zones.

The game’s design rewards diverse knowledge — from Pokémon to maritime history and woodworking puns — making it both educational and fun. Solvers often report improved pattern recognition and lateral thinking skills over time.

Past puzzles have covered topics from food and music to history and science, demonstrating the team’s broad vocabulary and thematic creativity. Puzzle No. 1085 exemplified this range with its mix of playful and technical categories.

Tips for Mastering Connections

Experts suggest several approaches for consistent success:

• Look for super obvious groups first, like colors or common phrases.
• Consider multiple meanings of words — “salt” can be a seasoning or a sailor.
• Pay attention to wordplay, especially in harder purple categories.
• Use the mistake limit strategically; three errors end the game.
• Practice daily to build intuition for common category types.

For Sunday’s puzzle, identifying the yellow items early often provided momentum, while the sailor slang required some nautical familiarity or process of elimination.

Cultural Impact and Community

In South Korea, where English learning remains a priority, Connections serves as both entertainment and a learning tool. Players frequently discuss solutions in online communities, sharing strategies and celebrating streaks.

The game’s accessibility — available through NYT subscription or limited free plays — has helped sustain its popularity years after launch. Families and friends compete to see who can solve fastest, creating bonding moments around shared puzzles.

Unlike more solitary games, Connections sparks conversation. Players post their grids online, comparing attempts and laughing over near-misses with the purple category’s wood puns.

Looking Forward

As May 31 drew to a close, attention turned to Monday’s puzzle, promising fresh challenges. The New York Times continues refining Connections with occasional special editions and ties to other games in its portfolio.

For those who solved No. 1085 perfectly, the satisfaction came from connecting seemingly random words into coherent themes. Even those who needed hints appreciated the puzzle’s clever construction.

The enduring appeal of Connections lies in its simplicity and depth. A single grid of 16 words can transport players from childhood memories of yellow school buses to the felt tables of billiards halls and the decks of old sailing ships.

As millions reset for the next puzzle, Sunday’s edition left a colorful impression — a reminder of how word games continue to unite players through shared curiosity and mental agility.

The NYT Games team selects words to ensure solvability while maintaining challenge, contributing to the franchise’s strong reputation for quality and fairness.