Tata Capital shares dropped around 2.5% on Monday after a 17% rally over the last one week pushed the stock to a lifetime high on Friday.

The shares of the non banking financial company (NBFC) dropped to Rs 357.7 apiece on the NSE on Monday morning. The stock jumped 21% in one month to hit a fresh all-time high of Rs 379.95 apiece on Friday.

Shares of Tata Capital made a muted debut on the stock exchanges in October last year, listing at a 1.2% premium at Rs 330 on both the BSE and NSE. This came after the Rs 15,512-crore IPO was fully subscribed 1.95 times, led by Qualified Institutional Buyers (QIBs).

The company’s shares have been more or less range-bound since then, dropping over 10% to hit a 52-week low of Rs 296 apiece earlier this month. The stock then gained 28% to hit a 52-week high of Rs 379.95 apiece on Friday.

Also Read | Tata Capital shares make weak debut, list at just 1% premium after 2025’s biggest IPO

JM Financial on Tata Capital

JM Financial last week upgraded its rating on the stock to ‘Buy’ from ‘Add’, noting that the company’s management remains confident in delivering 23–25% growth in FY25–28E, supported by continued retailisation, branch expansion and deeper product penetration. “Tata Motors Finance’s integration remains on track, and it is expected to become a meaningful profitability contributor over the medium term with ~2% RoA expected by FY28,” it added.

The domestic brokerage noted the post IPO correction in the stock, adding, “Given upcoming visible levers like high yield book expansion (affordable housing/PL etc.), improving profitability trajectory in motor finance while maintaining high growth reinforces our confidence in healthy earnings compounding in the medium term.”
JM Financial also increased its target price to Rs 400 apiece from Rs 380 apiece, with the latest target price implying a 9% upside potential from the stock’s previous closing price of Rs 366.80 apiece on NSE.Also Read | Tata Capital targets 23–25% loan growth through FY28, bets on GenAI and falling credit costs to boost returns

Tata Capital Q4 snapshot

Tata Capital in April reported a 43% year-on-year (YoY) surge in consolidated net profit to Rs 1,502 crore for the fourth quarter of the financial year 2026, along with a final dividend of Rs 0.57 per share for its shareholders.

While net profit surged 43% YoY, revenue from operations grew 9% YoY to Rs 8,160 crore during the quarter under review. Its net interest income (NII) rose 28% YoY to Rs 3,127 crore, and net assets under management (AUM) grew 28% YoY to nearly Rs 2.52 lakh crore at the end of the quarter.

Tata Capital’s annualised operating expense on the average net loan book was stable at 2.3%, while the cost-to-income ratio improved to 36.1%. Annualised credit cost slightly reduced to 0.8%, while annualised ROA and annualised ROE rose to 2.5% and 14.6%, respectively, during the fourth quarter of FY26. However, these numbers exclude the firm’s motor finance business.

Also Read | Should you buy, sell or hold Tata Capital shares after Q4 net profit surges 43%

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

The largest US-listed exchange-traded funds tracking single Asian countries, from India to Taiwan, suffered record outflows in March, just ahead of a massive rebound in the region’s equities on the first day of April.

Traders yanked a record $1.4 billion in March from BlackRock’s $6.7 billion iShares MSCI India ETF, known by its ticker INDA, according to data compiled by Bloomberg. The firm’s $7 billion iShares MSCI Taiwan ETF, or EWT, also saw a record redemption of $1.1 billion last month, the data show.

The withdrawals point to growing strain across energy-centric Asia, with India hit by currency weakness, rising yields and profit concerns, and Taiwan’s export-heavy manufacturing base facing rising cost pressures. Still, Asian stocks jumped the most in nearly a year on Wednesday after President Donald Trump suggested he is keen to exit the Middle East conflict sooner rather than later, underscoring how quickly sentiment can shift with each turn in the war.

“I’d say this is a greed rebound on new hope for a shorter conflict than what was being priced in a few days ago,” said Ed Goard, chief investment officer of Yousif Capital Management, who holds INDA for clients. “But during times like these, markets overreact to headlines.”

Trump said Wednesday he will only consider a halt to attacks on Iran when the Strait of Hormuz is reopened. In response, the Islamic Revolutionary Guard Corps said Hormuz will not be opened based on the “absurd displays of the American president,” according to state-run IRIB.
Stock gauges from both India and Taiwan are still down sharply since before the start of the war.

Bad Start

For India, a bad start to the year for the country’s locally listed stocks turned worse following escalating tensions in the Middle East, with investors concerned about the impact of the global energy crisis on its economy.
The country’s stock benchmark lost 11% in March, taking losses for the year to over 15% and making it among the worst-performing markets in Asia in 2026. With the rupee hitting record lows against the dollar and government bond yields rising, worries are growing that the country’s underperformance relative to its emerging market peers could deepen.
UBS Global Wealth Management and HSBC downgraded Indian equities to neutral in recent days, citing risks from the war.

In Taiwan, the energy crisis has weighed on the outlook for its chip sector, given that the country is heavily dependent on natural gas imports to run its power plants. The country’s benchmark equities index fell nearly 13% in March, the most since September 2022.

“Taiwan does have advantages over some other smaller Asian countries given it dominates in tech and semiconductors, and this gives it some pricing power to a degree,” Goard said.

A fresh wave of Silicon Valley wealth could soon flow into South Florida.

With OpenAI quietly filing for a confidential IPO alongside market debuts from aerospace giant SpaceX and AI rival Anthropic, billions of dollars in overnight liquidity are about to be unlocked for executives and middle management alike. But instead of reinvesting in the Golden State, this incoming class of newly minted tech multimillionaires is already flooding Florida real estate brokers with calls — triggering what experts say could be a rapid-fire “Tech Exodus 2.0” measured in months, not years.

“The California area codes have already started showing up,” Fort Lauderdale Downtown Development Authority CEO and President Jenni Morejon told Fox News Digital. “It’s just that the conversations are evolving.”

“We get that Malcolm Gladwell ‘tipping effect,’ where you almost have to be in Miami because a lot of your friends and family and neighbors are moving here,” DaGrosa Capital Partners founder and chair Joe DaGrosa also said. “We saw that happen in New York. I think we’re going to see the same thing happen out of California.”

FLEEING FOR THEIR FUTURES, A CALIFORNIA EXODUS UNLEASHES A FLORIDA ‘GOLD RUSH’

Despite its strong talent pool, “Silicon Valley is absolutely a boring place to live compared to Miami,” real estate magnate and Naftali Group CEO Miki Naftali added. “How can you even compare between living in Miami and Silicon Valley?”

This week, SpaceX stock continued to surge following its record-setting IPO last Friday on the Nasdaq, rising more than 35% since it started trading. That briefly made it the fourth-largest global company by market cap before some of those gains were pared back.

SpaceX’s valuation success bleeds into the highly anticipated IPOs of OpenAI and Anthropic, which Reuters reports are both expected to list in late 2026.

Once an IPO hits the public stock market, those paper shares or stock options that employees might own instantly transform into liquid, tradable cash.

“There is going to be this transitional event with the IPO where executives are finally gonna see probably the biggest cash day most of them have ever seen in their lives. And many of them are not making millions, they’re making tens of millions overnight. And I think that’s going to have them thinking long and hard about South Florida and Miami in particular,” DaGrosa, whose firm has spent much of the last two decades investing in real estate, said.

“What we’re seeing here is a shock in a positive way to the financial balance sheets of individuals, particularly out in California, where I think they’re gonna be moving in a matter of months, not years or decades,” he continued.

Nestled between West Palm Beach and Miami, Fort Lauderdale is poised to welcome the tech titans, according to Morejon. The “low-key” culture of Fort Lauderdale and its private neighborhoods could prove to be a refreshing change from the spotlight of California.

CALIFORNIA LOSES FORTUNE 500 CROWN TO TEXAS AS BILLIONAIRE TAX THREAT LOOMS

“Having newcomers here with wealth is really a calibration. Fort Lauderdale has always attracted wealth that’s active, it’s global, it is highly productive. It’s just not performative,” Morejon said. “The wealth doesn’t hide here. It just doesn’t feel the need to announce itself. And I really think what we’re seeing now with AI founders, with the era of liquidity with SpaceX is a generation that’s used to speed and being very public… But many are also reaching a stage where I think they value discretion, it’s becoming an asset.”

“Tech jobs have actually grown 20% since 2021, and the increase in wealth, in terms of our downtown population, has also grown at the same rate. Our downtown economy supports over $43 billion annually in economic impact, and that’s a disproportionate and overarching share in high-value industries like tech, finance, professional services,” she added “So I think you see that this isn’t just a lifestyle narrative, it’s actually an operating environment for new businesses. And we have the engineering and infrastructure emerging to prove that.”

Naftali admits he feels “it’s too early to tell” when or where exactly new millionaires and billionaires will make the coast-to-coast move, and says the migration won’t solely be coming from California.

“Who is leading those IPOs? Those that are leading the IPOs are really based in New York because those are the Wall Street guys that are running the IPOs for the high-tech companies, and they are making huge bonuses,” Naftali said.

“There is going to be this transitional event with the IPO where executives are finally gonna see probably the biggest cash day most of them have ever seen in their lives.”

“We speak about Silicon Valley, but SpaceX is not in Silicon Valley,” the developer also noted. “But the point is, it’s all about talent, right? They’re all going after the talent… So [that’s] what Florida is still lacking and it’s gonna take time to attract the talent.”

Yet as the talent begins to follow the capital, the ultimate ripple effects will likely extend far beyond luxury beachfront high-rises. The experts argue that a massive wave of public market wealth creates an entirely new class of consumer — and resident — that shifts the cultural fabric of local communities.

“What’s interesting, though, is middle management at SpaceX and all these other companies, middle managers have wealth creation that can be $25, $50, $100 million. So what we would historically think of as a middle manager earning a decent living building wealth slowly over time, it’s a game-changer,” DaGrosa pointed out, noting that as these teams migrate, the housing market periphery will see a massive boom.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

“I think what we see is actually more opportunity for Floridians to get better jobs. I mean, when a state is doing well and making money… more people are moving into the state and spending money,” Naftali said.

“If you’re building a company at scale, you need three things: You need access, you need talent and you need a quality of life that sustains performance,” Morejon stated of her ultimate elevator pitch to incoming West Coast founders. “And if you need a place to dock the yacht, we can handle that, too.”

READ MORE FROM FOX BUSINESS

Legendary boxer Floyd Mayweather Jr. is the target of a lawsuit filed by a promotions company that alleges it paid millions in advance fees for exclusive rights to two high-profile exhibition bouts, only for the undefeated former champion to pursue other opportunities. The legal action highlights the complex financial arrangements common in professional boxing’s exhibition circuit.

CSI Entertainment filed the complaint Thursday in New York, seeking damages and injunctive relief after claiming it transferred $4.65 million to secure rights for Mayweather fights against Mike Tyson and Manny Pacquiao. According to the filing, the payments went to Mayweather’s management company, Frist Apex Ventures, with the boxer personally approving the agreements.

The first proposed bout involved an exhibition against Tyson, the former heavyweight champion known for his power and cultural impact. The second was described as a potential rematch with Pacquiao, which would have seen Mayweather risk his perfect 50-0 professional record. Both fights represented significant commercial prospects given the star power involved.

CSI Entertainment asserts it invested substantial resources in promoting the events, including marketing and logistical planning. The company claims that shortly after receiving a separate $150,000 advance, Mayweather announced a different fight against Greek kickboxer Mike Zambidis with another promoter. Additionally, the lawsuit alleges Mayweather secretly agreed to a streaming deal for the Pacquiao bout on Netflix from Las Vegas’ Sphere venue.

The promoters argue these actions violated their exclusive rights and caused financial harm. They are requesting the court block the Zambidis fight scheduled for next week and prevent the Netflix event from proceeding under terms that conflict with their agreement. The suit also seeks recovery of the advanced funds or compensatory damages.

Mayweather, 49, has maintained an active presence in exhibition boxing since retiring from traditional professional competition. His bouts often draw large audiences due to his technical skill and history of pay-per-view success. The Tyson and Pacquiao matchups would have capitalized on nostalgia for iconic rivalries from earlier eras of the sport.

This is not the only legal matter involving Mayweather’s management. The boxer is reportedly pursuing his own $175 million lawsuit against Frist Apex Ventures and a former manager, alleging fraud. Such disputes underscore the intricate and sometimes contentious business dealings in combat sports.

Boxing promoters frequently invest heavily in securing talent for major events, with advances serving as commitments from fighters. When deals collapse, the financial repercussions can be significant, particularly for smaller entities competing against larger players in the industry. CSI Entertainment’s complaint details the resources expended in anticipation of the fights proceeding.

Mayweather’s legal team has not issued a public response to the latest filing. The undefeated champion, whose career earnings exceed hundreds of millions of dollars, has a history of navigating high-stakes negotiations and disputes. His exhibitions continue to generate interest despite questions about competitive integrity compared to his prime professional years.

The proposed Tyson fight carried particular intrigue given both fighters’ larger-than-life personas. Tyson, now in his 50s, has participated in several exhibition bouts in recent years, including a high-profile encounter with Roy Jones Jr. A matchup with Mayweather would have blended different eras and styles, appealing to longtime fans.

Pacquiao, a former multi-division champion and Philippine senator, has also stayed active in select bouts. A rematch with Mayweather, who defeated him by unanimous decision in 2015, would have revisited one of boxing’s biggest pay-per-view events. The 2015 fight generated record revenue but left many observers wanting more action.

The lawsuit alleges that CSI Entertainment’s promotional efforts were undermined by Mayweather’s subsequent agreements. This includes claims of secret negotiations that bypassed their exclusive rights. Such allegations, if proven, could have implications for how future exhibition deals are structured and enforced.

Combat sports industry observers note that exhibition bouts often involve complex contracts with multiple stakeholders. Advances help secure commitments but carry risks if fighters pursue alternative opportunities. The Mayweather case may serve as a cautionary example for promoters navigating this landscape.

Mayweather’s business acumen has been widely discussed throughout his career. He built a substantial fortune through savvy pay-per-view deals and diversified investments. His post-retirement activities, including exhibitions and brand partnerships, reflect continued engagement with the sport he dominated for years.

Tyson and Pacquiao represent different chapters in boxing history. Tyson’s explosive power defined the heavyweight division in the late 1980s and early 1990s, while Pacquiao’s speed and ferocity made him a superstar across weight classes. Pairing either with Mayweather’s defensive mastery would have created compelling narratives.

The Netflix streaming angle adds another layer to the dispute. Major platforms have increasingly entered combat sports, offering global reach and alternative revenue models. A Sphere event would have combined cutting-edge venue technology with high-profile talent, potentially setting new standards for live broadcasts.

CSI Entertainment seeks to halt proceedings that allegedly infringe on their rights. The request for injunctive relief underscores the time-sensitive nature of fight promotions, where dates and logistics are critical. Courts will need to balance contractual claims against the practicalities of event scheduling.

Boxing fans have reacted to news of the lawsuit with a mix of disappointment and curiosity. Many hoped for the proposed matchups, which promised entertainment value regardless of competitive outcomes. The dispute may delay or derail those possibilities, shifting focus to legal proceedings.

Mayweather’s undefeated record remains a significant part of his legacy. Any bout risking that status would generate substantial interest, particularly against a legend like Pacquiao. The Tyson exhibition carried different appeal, focusing more on spectacle than traditional scoring.

As the case progresses, additional details may emerge about the agreements and communications between parties. Both sides are likely to present evidence supporting their positions regarding the validity and scope of the deals.

The combat sports world continues evolving, with exhibitions filling gaps between major professional events. High-profile names like Mayweather drive much of the attention and revenue in this space. How this lawsuit resolves could influence future negotiations and promoter-fighter relationships.

For now, the focus remains on the claims and requested remedies. Promoters argue they acted in good faith with significant investments at stake. Mayweather’s team will presumably defend against the allegations as the matter advances through the courts.

The boxing community will monitor developments closely, given the potential impact on upcoming events and industry practices. Exhibition bouts have become an important revenue stream for veterans, but they require careful contractual management to avoid disputes like this one.

The National Stock Exchange of India (NSE) has signed a Memorandum of Understanding (MoU) with Bharat Metal Exchange Ltd. (BME), formerly known as Bombay Metal Exchange Ltd., to promote the development, awareness and adoption of non-ferrous metal derivatives in India.

BME, which has a history spanning more than nine decades, has built an extensive network across the non-ferrous metals trade and industry ecosystem. Through the partnership, NSE’s derivatives market infrastructure will be combined with BME’s industry expertise and engagement with participants in the physical non-ferrous metals market.

The collaboration is aimed at increasing market participation, strengthening price risk management practices and supporting the development of hedging tools for stakeholders across the non-ferrous metals value chain.

India is among the world’s largest consumers of industrial metals such as copper, aluminium, zinc, lead and nickel. With domestic manufacturing activity, infrastructure development, renewable energy investments and electric mobility continuing to expand, demand for mechanisms to manage commodity price volatility has also increased.

As part of the agreement, NSE and BME will work together on developing products in the non-ferrous metals segment and undertake initiatives to create awareness around price risk management through exchange-traded non-ferrous metal derivatives.

The two organisations will also engage with a broad set of stakeholders, including producers, consumers, processors, traders, importers, exporters, industry associations and financial market participants,to encourageg wider adoption of exchange-based risk management solutions.
Commenting on the development, Sriram Krishnan, Chief Business Development Officer (CBDO) at NSE, said India’s expanding industrial economy requires efficient and transparent tools to help businesses manage commodity price fluctuations. He said the collaboration with BME is intended to deepen awareness and participation in non-ferrous metal derivatives and help market participants manage price risks more effectively.Sushil R. Kothari, President of BME, said the partnership is aimed at strengthening India’s non-ferrous metals ecosystem by increasing awareness of risk management tools and encouraging broader participation from producers, consumers, traders and processors. He added that the collaboration would help bridge the gap between physical and derivatives markets by leveraging BME’s industry knowledge and NSE’s market infrastructure.

Under the arrangement, NSE and BME will jointly conduct industry outreach programmes focused on the role of non-ferrous metal derivatives in managing price risks. The partnership reflects the efforts of both organisations to support the development of India’s commodity markets and expand access to transparent and efficient risk management solutions.

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

Olivia Rodrigo achieves her third No. 1 album on the Billboard 200 chart as her third studio release, “You Seem Pretty Sad for a Girl So in Love,” launches atop the list dated June 27. The set bows with 485,000 equivalent album units earned in the United States in the week ending June 18, according to Luminate — marking Rodrigo’s biggest week ever by units, and the largest week of 2026 for any album by a soloist.

A Consistent Track Record at No. 1

Rodrigo also topped the Billboard 200 with her two previous studio albums, GUTS in 2023 and SOUR in 2021, extending her perfect record of debuting every studio album at the top of the chart.

Hit Singles That Set the Stage

The new album was preceded by a pair of top-five-charted singles on the Billboard Hot 100: its lead-off track “drop dead,” which reached No. 1 in May, and “the cure,” which peaked at No. 5 in June.

A Breakdown of the Units

Of the album’s 485,000 equivalent album units earned in the latest tracking week, album sales comprised 273,000 — Rodrigo’s best sales week and the largest sales week for a woman in 2026, allowing the album to debut at No. 1 on Top Album Sales. Streaming equivalent album units comprised 211,000, equaling 218.41 million on-demand official streams of the set’s tracks, the largest streaming week of 2026 by a woman, debuting the album at No. 1 on Top Streaming Albums. Track equivalent album units comprised 1,000.

Vinyl Sales Played a Major Role

The album’s first-week sales were bolstered by its availability across more than 15 physical variants, including two signed editions. Of the album’s opening-week sales, vinyl purchases comprised 164,000 — Rodrigo’s biggest week on vinyl and the largest week of 2026 by a woman.

How the Billboard 200 Is Calculated

The Billboard 200 chart ranks the most popular albums of the week in the U.S. based on multi-metric consumption as measured in equivalent album units, compiled by Luminate. Units comprise album sales, track equivalent albums and streaming equivalent albums. Each unit equals one album sale, or 10 individual tracks sold from an album, or 2,500 ad-supported or 1,000 paid or subscription on-demand official audio and video streams generated by songs from an album. The new June 27, 2026-dated chart will be posted in full on Billboard’s website on June 23.

A Tour to Follow the Release

Rodrigo will embark on The Unraveled Tour beginning on September 25 in Hartford, Connecticut, and continuing through at least May 10, 2027, in London, giving fans an extended opportunity to see the new material performed live across North America and Europe.

The Only New Entry in the Top 10

Rodrigo’s new album is the only debut in the top 10 of the latest Billboard 200, reflecting the strength of her launch relative to a chart otherwise populated entirely by previously established releases.

Drake’s ICEMAN Drops After a Four-Week Reign

Drake’s ICEMAN cedes the No. 1 slot after spending its first four weeks atop the Billboard 200, as the set dips from No. 1 to No. 2 in its fifth week on the list, earning 105,000 equivalent album units, down 21% from the prior week.

The Rest of the Top 10

Four former No. 1s follow ICEMAN on the chart. Ella Langley’s “Dandelion” falls from No. 2 to No. 3 with 84,000 units, down 4%. Morgan Wallen’s “I’m the Problem” slips from No. 3 to No. 4 with 78,000 units, down 2%. Noah Kahan’s “The Great Divide” moves up from No. 4 to No. 5 with 71,000 units, up 5%. Michael Jackson’s “Thriller” holds steady at No. 6 with 53,000 units, down 4%.

Rounding out the top 10, Jackson’s “Number Ones” rises a spot to No. 7 with 49,000 equivalent album units, down 4%. Wallen’s former chart leader “One Thing at a Time” climbs from No. 9 to No. 8 with 39,000 units, down 4%. Olivia Dean’s “The Art of Loving” moves up a spot to No. 9 with 35,000 units, down 1%. And BTS’ chart-topping “ARIRANG” ascends from No. 11 to No. 10 with 34,000 units, down less than 1%.

How the Chart Data Is Verified

Luminate, the independent data provider to the Billboard charts, completes a thorough review of all data submissions used in compiling the weekly chart rankings. Luminate reviews and authenticates data. In partnership with Billboard, data deemed suspicious or unverifiable is removed, using established criteria, before final chart calculations are made and published.

A Strong Showing Internationally as Well

Beyond the U.S. chart performance, Rodrigo’s new album has also delivered a career milestone overseas, achieving a career-best opening week as the set claimed the top spot on the U.K. albums chart. The album’s first-day streaming performance similarly broke records, underscoring the global scale of the demand surrounding the release in the days immediately following its launch.

With the album already setting multiple career and yearly benchmarks in its debut week, attention now turns to whether Rodrigo can sustain that momentum in subsequent chart weeks as she heads toward the September launch of The Unraveled Tour. Given the album’s dominant performance across sales, streaming, and vinyl purchases alike, “You Seem Pretty Sad for a Girl So in Love” appears positioned to remain a fixture near the top of the Billboard 200 in the weeks ahead, even as it now faces competition from previously established hits like Drake’s ICEMAN and a deep field of country and pop releases that have continued performing strongly throughout 2026.