Shares of TCS, India’s largest IT services company, plunged 2% to an intraday low of Rs 2,144 on the BSE on Monday as a surge in U.S. bond yields reignited concerns that the Federal Reserve may be forced to raise interest rates later this year. With today’s decline, the stock has lost 12% over the last four trading sessions.

Higher U.S. bond yields and expectations of tighter monetary policy are generally seen as negative for Indian IT stocks. They tend to compress valuations of growth-oriented companies, raise concerns about slower technology spending by U.S. clients, encourage businesses to focus on cost optimization rather than expansionary IT investments, and can trigger foreign investor outflows from emerging markets.

The weakness in TCS also follows a sharp relief rally in IT stocks last week. The sector has remained under pressure through much of 2026 amid growing concerns that rapid advances in artificial intelligence could disrupt the traditional software services business model.

Should you buy TCS shares?

“We recommend avoiding TCS for now as the major trend is bearish,” Sudeep Shah, Vice President and Head of Technical & Derivatives Research at SBI Securities told ETMarkets. According to Shah, momentum indicators have weakened considerably, with the RSI turning lower after nearing the 60 level, suggesting fading bullish strength. He also pointed out that the stock has slipped below the Bollinger Band midline, an important support level often tracked by technical analysts. With the latest decline, TCS has fallen below several key short- and long-term moving averages, indicating a weakening trend.

Harshal Dasani, Business Head at INVasset PMS, said the stock’s technical setup has shifted from weakness to a test of a potential breakdown. According to him, the 9% decline following a 6.53% rebound in the last week suggests the earlier recovery was merely a dead-cat bounce rather than evidence of fresh buying interest. “When a large-cap stock gives up a relief rally this quickly, the market is not reacting to a single negative headline. It is repricing the entire low-growth IT model,” Dasani said.
On the upside, he sees the Rs 2,400-2,450 range as a significant supply zone, since the recent recovery attempt stalled in that region. Dasani added that until TCS manages to reclaim this band with strong participation, any rallies are likely to face selling pressure.

TCS share price performance

TCS shares have fallen over 32% since the start of the year and about 37% in the last 1 year.
TCS reported a 12% year-on-year rise in consolidated net profit at Rs 13,718 crore for the fourth quarter, while revenue from operations increased 10% YoY to Rs 70,698 crore. The company also announced a final dividend of Rs 31 per share.
During the quarter, TCS secured three large deals, taking the total contract value to $12 billion for the period. On a quarter-on-quarter basis, revenue grew 5.4%, while constant currency growth came in at 1.2%, broadly in line with expectations. Operating margin for the January to March quarter stood at 25.3%, up 10 basis points from the previous quarter.

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

Shares of Rajesh Exports (REL) tumbled 5% to hit the lower circuit at Rs 94.50 on Monday, marking the third consecutive session of sharp losses after market regulator Sebi accused the company of orchestrating an elaborate financial fraud involving alleged revenue inflation of Rs 15.15 lakh crore over the years, personal gold trades purportedly passed off as corporate sales, and investments of Rs 1,035 crore in gold mines.

In its findings, Sebi alleged accounting irregularities, diversion of company funds into personal accounts, and a pattern of conduct aimed at misleading investors. The regulator also flagged lapses by the company’s auditors and said both Rajesh Exports and its auditors failed to fully cooperate with the investigation.

In its 109-page interim order dated June 3, Sebi said its investigation and forensic examination revealed prima facie evidence suggesting that nearly 97-99% of the company’s reported revenue may have been inflated. The regulator described the alleged discrepancies as “egregious and unheard of”.

Pending further directions, Sebi has barred Rajesh Mehta from buying, selling or otherwise dealing in securities of Rajesh Exports. The regulator has also directed the company to fully cooperate with investigators and ensure true and fair disclosure of its financial statements and related-party transactions.

“The acts of REL constitute a deliberate device, scheme and artifice to mislead and defraud investors dealing in the shares of REL by portraying an inflated and misleading picture of its operational scale, revenue and financial health,” Sebi said in its order.

The case stems from a shareholder complaint received in March 2024 that raised concerns over substantial trade receivables reflected in the company’s accounts. Following a preliminary review, Sebi initiated a detailed investigation covering the period from April 2020 to March 2024 and appointed BDO India Services as the forensic auditor.
Besides restricting Rajesh Mehta from dealing in the company’s securities, Sebi has directed Rajesh Exports to furnish all pending information sought by investigators within 30 days. The regulator has also ordered the appointment of a new forensic auditor to conduct a more comprehensive review of the company’s books and transactions.Rajesh Exports has denied the allegations. In a press release issued on Thursday, the company said the revenues reported in its financial statements were accurate and contended that Sebi’s conclusions were based on a misunderstanding between revenue and EBITDA figures at Swiss refiner Valcambi SA, an indirect subsidiary of the company.

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

DUBAI, United Arab Emirates — Dubai International Airport is open today and showing active flight operations, according to the latest airport and live-status pages, but there is no immediate public evidence that it is under a full closure or that travelers face a total shutdown. The airport’s official flight-information page remains live, and current airport-condition data list DXB as operating with very low delays.

The Dubai Airports website directs passengers to real-time flight information, travel guidance and service updates, indicating that the hub remains in service for arrivals and departures. That matters because DXB is one of the world’s busiest international airports, and even short interruptions usually appear quickly in airline notices and airport advisories.

At the moment, the clearest answer is that Dubai International Airport is open today. Publicly available status pages do not show a broad closure, and live flight boards continue to track departures and arrivals. The airport’s own site still advises passengers to check flight status directly, which is standard for a large hub that manages frequent schedule changes.

FlightStats shows DXB with a current delay status marked “very low and increasing,” a sign of active but relatively stable operations. Skyscanner’s live-arrivals and departures pages also continue to list Dubai flight status information, another indication that the airport remains operational. None of the current pages reviewed suggests the airport is closed today.

Dubai Airports’ public landing page highlights flight status, travel guidance and passenger services, which are typically maintained when the airport is functioning normally or near normally. The site’s live-flight section is especially useful for same-day travelers because it can reflect gate changes, delays and cancellations faster than general news reports. For that reason, passengers flying through DXB should still confirm their specific airline before leaving for the airport.

The broader picture is that Dubai International Airport remains a fully active global hub, and today’s online status signals routine operations rather than an emergency disruption. While the term “fully opened” can mean different things depending on whether a user is asking about reopening after a closure or just current accessibility, the latest public information supports a simple answer: DXB is open today and serving passengers.

For travelers, that means normal precautions still apply. It is smart to check departure boards, airline apps and airport alerts before traveling, especially during peak periods when changes can happen quickly even at a major international hub. But based on the latest available status pages, there is no indication that Dubai International Airport is closed or partially shut today.

Travel status

Airport-condition data show active conditions at DXB, with weather and delay information updated in real time. The airport’s live tools are designed for passengers who need exact gate and schedule details, which is often more useful than broad summaries when a traveler is trying to catch a flight.

Dubai Airports also provides travel guidance for visitors heading to the city, suggesting that standard passenger movement continues through the airport system. That is consistent with the live-status listings for arrivals and departures. For a journalist or editor writing a same-day update, the safest phrasing is that DXB is open and operational today, not that it is undergoing a reopening.

What the pages show

The airport’s official site includes a dedicated flight-status section, while the main Dubai Airports homepage still emphasizes flight information and travel support. FlightStats likewise lists DXB as an active airport with a current delay status rather than a shutdown status. Taken together, those sources point to a functioning airport serving ongoing traffic.

The absence of any closure notice on the airport’s main public pages is also notable. Airports facing major interruptions usually post prominent advisories about suspensions, delays or rerouting, but no such broad warning appears in the materials reviewed here. That makes the current answer straightforward: Dubai International Airport is open today.

For travelers

Passengers should verify their specific flight before departure, because an open airport does not guarantee every route is running exactly on schedule. Still, the latest public data suggest that DXB continues to operate normally enough for travel to proceed. Travelers connecting through Dubai should expect routine international-airport procedures rather than a closure-related disruption.

NEW YORK — Elon Musk drew attention to the ancient Persian origins of the Strait of Hormuz on Monday, noting its connection to Ahura Mazda, the supreme deity in Zoroastrianism, in a post that quickly sparked widespread discussion about Iranian history and cultural heritage.

The tech executive and owner of X posted: “Straits of Hormuz are named after Ahura Mazda from Zoroastrianism.” The comment, which received significant engagement, highlighted the pre-Islamic roots of the strategically vital waterway that connects the Persian Gulf to the Gulf of Oman and serves as a critical chokepoint for global oil shipments.

Straits of Hormuz are named after Ahura Mazda from Zoroastrianism

— Elon Musk (@elonmusk) June 8, 2026

The Strait of Hormuz has long been a focal point in geopolitics due to its role in transporting approximately 20% of the world’s seaborne petroleum. Musk’s reference to its etymology underscores the region’s deep historical and cultural layers that predate its current geopolitical significance. Ahura Mazda, meaning “Wise Lord,” represents the central figure in Zoroastrianism, one of the world’s oldest monotheistic religions that originated in ancient Persia.

Musk’s post resonated with users interested in Iranian history, with many responding by sharing additional context about Persian heritage and the influence of Zoroastrianism. Several replies emphasized that Iran’s cultural identity extends far beyond its modern political boundaries, with users noting the ancient kingdom and linguistic connections tied to the name Hormuz.

The Strait takes its name from the historical region and port city of Hormuz (also spelled Ormuz), which itself derives from Middle Persian “Hormazd” or “Ohrmazd,” a variation of Ahura Mazda. Ancient Persian kingdoms and trade routes in the area long predated Islamic conquests, with Zoroastrianism serving as the dominant religion for centuries.

Discussions following Musk’s comment touched on broader themes of cultural preservation and historical identity. Some users pointed to linguistic shifts over time, with Persian names and terms evolving or being adapted through different eras of rule. Others used the moment to reflect on Iran’s pre-Islamic heritage, describing Zoroastrianism as a foundational element of Persian civilization known for its emphasis on good thoughts, good words and good deeds.

The post comes amid ongoing global attention on the Strait of Hormuz due to its strategic importance. Any disruption in the waterway can have significant effects on energy markets, as evidenced by previous incidents that caused spikes in oil prices. Musk’s observation added a cultural and historical dimension to conversations that are often dominated by security and economic considerations.

Musk has frequently engaged with topics related to history, technology and civilization on his platform. His interest in ancient cultures and long-term civilizational trends aligns with his public commentary on humanity’s future, space exploration and sustainable energy.

For many observers, the comment served as a reminder of the deep historical roots underlying modern geopolitical flashpoints. The Strait of Hormuz region has been a center of trade and cultural exchange for millennia, with influences from Persian, Arab, Indian and other civilizations shaping its development.

Zoroastrianism, founded by the prophet Zoroaster (also known as Zarathustra), emphasized ethical dualism between good and evil, with Ahura Mazda representing wisdom and order. The religion influenced later monotheistic faiths and left a lasting imprint on Persian culture, language and traditions even after the spread of Islam.

In contemporary Iran, small Zoroastrian communities continue to practice their faith, preserving rituals and texts that connect directly to ancient Persian heritage. Musk’s reference brought renewed visibility to these historical connections at a time when the region remains in the international spotlight.

The response to the post included a mix of educational comments, personal reflections and political viewpoints. Some users expressed appreciation for highlighting pre-Islamic Persian history, while others engaged in debates about cultural identity and historical narratives. The discussion illustrated how a single historical fact can spark broader conversations about heritage, politics and identity.

Musk’s platform continues to serve as a space for wide-ranging topics, from technology and business to history and culture. His willingness to share observations on diverse subjects often generates significant engagement and draws in users from around the world.

As global energy markets monitor developments around the Strait of Hormuz, Musk’s comment added a layer of historical context to ongoing discussions about the waterway’s importance. The ancient name’s connection to Zoroastrianism serves as a reminder of the region’s rich multicultural past that continues to influence its present significance.

The episode highlights how digital platforms can surface historical facts and spark public interest in topics that might otherwise remain in academic circles. For many, Musk’s post provided an accessible entry point to learning more about Persian civilization and its contributions to world history.

While the Strait of Hormuz remains a critical economic and strategic asset in the 21st century, its name carries echoes of much older civilizations and belief systems. Musk’s observation bridged ancient history with contemporary relevance, demonstrating how cultural heritage continues to shape perceptions of important global locations.

As discussions continue online, the post serves as another example of how brief comments on historical facts can generate widespread interest and reflection on deeper civilizational themes. For those exploring the topic further, resources on Zoroastrianism and ancient Persian history provide rich context for understanding the enduring legacy embedded in the name of this vital maritime passage.

NEW YORK — Speculation about LeBron James potentially joining the Golden State Warriors has gained momentum as the NBA superstar prepares for free agency, with reports of discussions involving Stephen Curry and longstanding ties to coach Steve Kerr adding fuel to the possibility of one of the league’s most unlikely team-ups.

James, who will turn 42 in December, is expected to enter unrestricted free agency after declining his player option with the Los Angeles Lakers. While the Lakers remain a strong contender to retain the four-time NBA champion, the idea of James teaming with Curry in Golden State has captured widespread attention across the basketball world.

According to multiple reports, Curry is preparing to meet with James in the coming weeks to discuss the potential move. The prospect of two generational talents who once defined an era of NBA Finals battles now sharing a roster represents one of the most intriguing storylines heading into the offseason.

The relationship between James and Warriors coach Steve Kerr, strengthened during their time together on the gold medal-winning U.S. Olympic team in Paris in 2024, has been cited as a meaningful connection. Kerr has publicly expressed admiration for James’ impact on the game, and their Olympic collaboration is understood to have built mutual respect between the longtime rivals.

James has spent the last eight seasons with the Lakers, delivering a championship in 2020 and maintaining elite production despite his age. His business interests, including SpringHill Company, and family roots in Southern California have long been viewed as factors favoring a long-term stay in Los Angeles. However, the Lakers’ recent postseason struggles have prompted fresh speculation about his future.

Golden State, led by Curry, presents a different opportunity. The Warriors have built a competitive roster around their veteran core, and adding James could create a formidable lineup blending experience, scoring and playmaking. Draymond Green, a close friend of James, remains a key figure in Golden State’s locker room, while other roster pieces could complement James’ style of play.

The possibility of James and Curry becoming teammates marks a dramatic evolution from their intense rivalry. The two stars faced off in four consecutive NBA Finals from 2015 to 2018, producing some of the most memorable playoff basketball in league history. Their Olympic experience together is said to have fostered a deeper appreciation beyond competition.

For the Warriors, acquiring James would represent a significant roster upgrade as they seek to return to championship contention. The team has shown flashes of brilliance in recent seasons but has faced challenges maintaining consistency. Pairing Curry’s shooting with James’ all-around brilliance could create one of the most dynamic offenses in the league.

Financial considerations will play a major role. The Lakers are projected to have substantial salary cap flexibility, allowing them to offer James a competitive contract. Golden State’s cap situation is more constrained, though creative structures and roster moves could open pathways. James’ decision will ultimately weigh basketball fit, family priorities and long-term legacy.

James has consistently emphasized family as his top consideration. With son Bronny already on the Lakers roster and Bryce playing college basketball nearby, any move would require careful thought regarding family logistics. His off-court business empire, deeply rooted in Los Angeles, adds another layer of complexity.

League insiders caution that while discussions may occur, a move to Golden State faces significant hurdles. The Warriors would need to create sufficient cap space or use exceptions creatively, and James has shown loyalty to the Lakers organization that delivered him a title.

Still, the rumor has generated excitement among fans. A James-Curry partnership would instantly become one of the most compelling storylines in the league, blending two of the greatest players of their generation in pursuit of another championship.

For Golden State, the move could accelerate a retooling effort around Curry as he enters the later stages of his career. The Warriors have maintained competitiveness through savvy roster construction, and adding a player of James’ caliber would immediately elevate their title hopes.

James’ production remains remarkable for his age. He continues to deliver strong numbers in scoring, assists and rebounding while impacting games with leadership and basketball IQ. His ability to elevate teammates has been a hallmark throughout his career, making him an attractive target for contending teams.

The broader NBA landscape adds context to the speculation. With several teams possessing cap space and contending aspirations, James’ free agency is expected to influence roster moves across the league. His decision will be closely watched by executives, players and fans alike.

While the Lakers are widely viewed as the favorite to retain James, the Warriors’ interest highlights the intrigue surrounding his next chapter. Any potential meeting between Curry and James would carry symbolic weight given their history of fierce competition.

As free agency approaches, James is expected to take time with his family before making a decision. His track record of bold moves, from “The Decision” in 2010 to multiple team changes, shows a willingness to embrace new challenges when the timing feels right.

For now, the rumors serve as a reminder of James’ enduring influence on the league. Whether he stays with the Lakers, returns to Cleveland or explores new opportunities like Golden State, his choice will shape the 2026-27 season and spark conversations for months to come.

The possibility of James and Curry teaming up represents the ultimate “what if” scenario for many fans who watched their rivalry define an era. As discussions unfold, the basketball world waits to see if two of the game’s greatest players will write one final, unexpected chapter together.

India, which has traditionally been a textile powerhouse, is at an inflexion point to regain its lost glory after some recent market share loss, said Emkay Global Financial Services as it initiated coverage on the textile sector with a ‘Buy’ call on the shares of Arvind, Nitin Spinners and Sanathan Textiles.

In its report, Emkay Global said India has lost market share in the global apparel trade, which has been stagnant at 3-4% over the past 15 years. However, it believes that the sector may soon see a turnaround led by a strengthening domestic MMF ecosystem, free trade agreements (FTA) with major economies, 7-8% US tariff gap compared to China, favourable regulatory taxes, robust corporate balance sheets and the fastest-growing domestic apparel market.

The brokerage highlighted that Indian textile and apparel manufacturers have largely emerged unscathed from multiple shocks like the COVID-19 pandemic, Russia-Ukraine war, hostile US tariffs and more. “We believe the ongoing West Asia crisis, too, will have a short-term impact on margins (higher energy, logistics costs), which should see a sharp recovery on attaining normalcy. Backed by a robust domestic market, favourable USD-INR rate, and a strong balance sheet, we believe domestic players would be able to absorb future shocks too,” it said.

Emkay called spinners an attractive category, citing several tailwinds. USDA has said that global cotton demand will outpace supply in the upcoming season as cotton production is likely to be hit by the mega El Nino impact, lower water reservoir levels and other factors. This has already resulted in rising cotton prices. “Given the likely global cotton shortage, we expect yarn spreads to at least be rangebound at current levels in the near term,” Emkay said.

Also read: Time for a relook at textile sector as tariff tantrum may soon be history?

Technical textiles, meanwhile, are the sunrise segment, according to the brokerage. These textiles find use in packaging materials, defence uniforms or equipment, auto interiors, industrial ropes and nets, etc. They enjoy superior operating margins of 15-30%. “Technical textiles’ domestic market size saw 7-8% CAGR over FY20-26P; we expect this to increase to early-double digits over the next 5Y, mainly on the back of 1) multiple FTAs; 2) tariff differential vs China; 3) ecosystem boost led by PLIs and PM MITRA parks; and 4) GST cuts on MMF fibers and yarns to 5% (from 12%),” Emkay said.

Emkay on Arvind share price

Emkay initiated coverage on Arvind shares with a ‘Buy’ call and a target price of Rs 700 apiece. This implies an upside potential of nearly 42% from the stock’s previous closing price of Rs 493.70 apiece on NSE.
The shares of the company have gained 5% in one week, 15% in one month and 57% in 2026 so far, bucking the overall market downtrend.

Emkay on Nitin Spinners

Nitin Spinners also got a ‘Buy’ rating from Emkay, which assigned a target price of Rs 750 apiece for the stock. This implies an upside potential of 40% from the previous closing price.The shares of Nitin Spinners have jumped 6% in five days and 12% in one month. The stock overall gained 69% in 2026 so far.

Also read: Sterlite Tech shares slide 5% after rallying 56% in one month. Here’s why

Emkay on Sanathan Textiles

Emkay has a ‘Buy’ call for the shares of Sanathan Textiles, with a target price of Rs 550 apiece. This implies an upside potential of 39% from the previous closing price.

The shares of the company tumbled more than 9% in one month, and are down 5% in 2026 so far.

Also read: Why is market crashing today?

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