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ICICI Bank closes in on HDFC Bank for Nifty’s top spot as share trends diverge

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ICICI Bank closes in on HDFC Bank for Nifty’s top spot as share trends diverge
Mumbai: ICICI Bank is closing in on HDFC Bank‘s position as the most influential stock in the Nifty. The gap in weights between the index heavyweights is the narrowest since at least January 2010, according to Nuvama Alternative & Quantitative Research.

The weight of HDFC Bank in the Nifty was around 9.85% as on August 31, while ICICI Bank’s was 9.45%. Reliance Industries’ weight was around 7.8% as of August 31. The 1.65 percentage point gap between ICICI Bank and Reliance Industries is the widest since April 2015, according to Nuvama data.

ICICI closes in on HDFC Bank's no.1 spot in Nifty as share show diverges<br>ET Bureau

The convergence between the weights of HDFC Bank and ICICI Bank has been driven by the contrasting performance of their shares this year. HDFC Bank‘s Nifty weight has dropped from 12.7% at the end of December 2025 to 9.85%, with the stock declining around 28% so far in 2026. ICICI Bank’s weight, in contrast, has risen from 8.05% to 9.45%, an increase of 1.4 percentage points.

Read more: Midcap Street party turns selective as 15 stocks power 50% of rally

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Reliance Industries has also lost ground, with its Nifty weight falling from 8.9% at the end of December to 7.8% as its shares declined around 17% this year.


The shift marks a significant change in the Nifty’s pecking order. HDFC Bank’s weight had reached a record 19.1% in February 2020, while Reliance Industries peaked at 14.92% in September that year.
Despite the lower weight in the index, Reliance Industries remains the largest of the three with a market capitalisation of around ₹17.7 lakh crore, followed by HDFC Bank at ₹10.97 lakh crore and ICICI Bank at ₹10.32 lakh crore.

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Range Rover Electric: JLR launches its first fully electric luxury SUV

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The Range Rover Electric, Jaguar Land Rover’s first fully electric luxury SUV, is being built at JLR’s manufacturing plant in Solihull

A Range Rover in production at the Jaguar Land Rover (JLR) plant in Solihull

A Range Rover in production at the Jaguar Land Rover (JLR) plant in Solihull(Image: PA Archive/PA Images)

Automotive giant Range Rover has unveiled its first fully electric model.

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The vehicle, Range Rover Electric, is being manufactured at JLR’s production facility in Solihull, in the West Midlands.

The firm said the launch is accompanied by a sweeping transformation of the plant and several other sites across the West Midlands, encompassing new battery and electric drive unit production lines, as well as a comprehensive reskilling programme for staff ahead of the shift to electrification.

Some 9,000 employees in Solihull have been upskilled for electrification and a further 1,500 have been trained across the West Midlands, while JLR’s Electric Propulsion Manufacturing Centre in Wolverhampton now produces battery packs and electric drive units alongside internal combustion engines.

Martin Limpert, managing director of Range Rover, said: “Range Rover Electric is the result of a decade of considered engineering and technological development, setting a new benchmark for the original luxury SUV.

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“We took our testing and development programmes even further than originally intended to ensure Range Rover Electric is genuinely the most accomplished Range Rover ever.”

Matt Becker, JLR’s vehicle engineering director said: “The defining characteristic of Range Rover Electric is its ability to perform across every surface, with effortless comfort and refinement.

“We’ve worked tirelessly to ensure it retain those qualities.”

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Why Canada's Counter-Tariff Is More Than 'Dollar For Dollar'

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Why Canada's Counter-Tariff Is More Than 'Dollar For Dollar'

Why Canada's Counter-Tariff Is More Than 'Dollar For Dollar'

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Babcock, Saab ink $117m Henderson frigate management contract

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Babcock, Saab ink $117m Henderson frigate management contract

Babcock Australia take the reins, in partnership with Saab, to manage the life cycle of the nation’s ageing Anzac-class frigates at the Henderson maritime precinct under a new 5-year, $117.5 million deal.

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Tectonic Therapeutic Stock: Competitor Data Strengthens The TX45 Bull Case (NASDAQ:TECX)

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SELLAS Life Sciences: The AML Platform Is More Interesting Than Binary Event (NASDAQ:SLS)

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Paladin Energy Ltd (PALAF) Analyst/Investor Day – Slideshow

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Paladin Energy Ltd (PALAF) Analyst/Investor Day – Slideshow

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Andean taps investors for $40m

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Andean taps investors for $40m

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Malaysia Suggests Scientific Cooperation and Long-Term Financial Fund to Tackle Asean Haze Issue

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Indonesia establishes regional smoke monitoring hub to combat transboundary air pollution within Southeast Asia

Malaysia proposed a science diplomacy and sustainable haze fund at the 27th MSC meeting in Bali, strengthening AATHP efforts. Members reaffirmed commitment to haze-free ASEAN by 2030, discussed rising hotspots, El Nino risks, SEA FDRS improvements, and agreed to expand the haze fund’s scope and governance.

Key Points

  • Malaysia proposed a science diplomacy and sustainable haze fund at the 27th MSC meeting in Bali, with members agreeing to explore its feasibility and strengthen the Asean haze fund’s contributions and scope.
  • ASMC reported an 86% hotspot increase in H1 2026, with El Nino expected to worsen dry conditions; Malaysia showcased SEA FDRS upgrades and the new MyCMAQ air quality model.
  • Malaysia and Indonesia held bilateral talks on environmental cooperation; Malaysia will host the 28th MSC meeting in Sabah in 2027.

New Proposals to Strengthen Regional Haze Cooperation

At the 27th Sub-Regional Ministerial Steering Committee (MSC) meeting in Bali, Malaysia—represented by Minister Datuk Seri Arthur Joseph Kurup—proposed a science diplomacy initiative and a sustainable haze fund to reinforce the Asean Agreement on Transboundary Haze Pollution (AATHP).

Member states, including Indonesia, Singapore, Thailand, Brunei, and Timor-Leste, agreed to assess the feasibility of science diplomacy within existing or new AATHP mechanisms. They also reaffirmed commitment to the Asean Coordinating Centre for Transboundary Haze Pollution Control (ACC THPC) and welcomed progress under the Asean Investment Framework for Haze-Free Sustainable Land Management, supporting the goal of a haze-free Asean by 2030.

Rising Hotspot Risks Amid El Niño Conditions

The Asean Specialised Meteorological Centre (ASMC) reported an 86% increase in hotspots in early 2026 compared to 2025, driven by hotter, drier weather. El Niño is expected to persist and intensify through August–September 2026, raising concerns over below-normal rainfall and heightened haze risks across the region.

To address this, MET Malaysia highlighted advances in the Southeast Asia Fire Danger Rating System (SEA FDRS), including three new automated weather stations in Peninsular Malaysia, and the March 2026 launch of the Malaysian Community Multiscale Air Quality Model (MyCMAQ) for improved air quality forecasting and haze monitoring.

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Strengthening Governance and Bilateral Ties

The MSC meeting reaffirmed commitment to prevention, firefighting, and joint emergency response, guided by the Second Haze-Free Roadmap 2023–2030 and the SOP for Monitoring, Assessment and Joint Emergency Response (SOP MAJER). Members also agreed to explore expanding the Asean haze fund, broadening contribution sources and supporting scientific research through transparent governance.

Looking ahead, the 21st AATHP Conference of Parties will be held in Da Nang, Vietnam, in October, while Malaysia will host the 28th MSC meeting in Kota Kinabalu, Sabah, in June 2027. Separately, Malaysia and Indonesia held bilateral talks, agreeing to deepen cooperation on environmental and climate change issues, including continued efforts to monitor and prevent transboundary haze.

Source : Malaysia proposes science diplomacy, sustainable haze fund to combat Asean haze

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Shohei Ohtani and Grand Seiko Deepen Their Global Partnership Rooted in Shared Craft of Refinements

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Shohei Ohtani

Grand Seiko has continued building out its global partnership with Los Angeles Dodgers star Shohei Ohtani, framing the collaboration around a shared philosophy the Japanese watchmaker says centers on incremental refinement rather than singular moments of brilliance, according to a feature published this week by Revolution Watch.

Grand Seiko first signed Ohtani as a brand ambassador during his 2018 MLB rookie season with the Los Angeles Angels, an early bet on a player whose full potential had not yet become apparent to the wider sports world. The relationship expanded significantly on March 12, when Grand Seiko announced Ohtani as its new global partner through what the company calls the “Grand Moments Project,” a collaboration the brand said centers on approaching each moment with sincerity and a deep respect for the value of time, with the initiative formally launching April 1.

“To carry forward a part of Grand Seiko’s heritage, shaped through decades of dedication, is something I deeply value,” Ohtani said in Grand Seiko’s official announcement of the partnership. “Feeling that legacy as I wear the watch brings me real joy, and it is my hope that we will continue this journey together.” He added that elevating the quality of each individual moment is important to him, a sentiment the brand has tied closely to its broader marketing message around the partnership.

Grand Seiko’s Revolution Watch feature traces the connection between Ohtani and the brand back to shared geography as much as shared philosophy. Ohtani was born in Oshu, in Iwate Prefecture, a mountainous region in northern Japan, the same prefecture that is home to Grand Seiko Studio Shizukuishi, the workshop dedicated to assembling the brand’s mechanical watches. That studio, designed by architect Kengo Kuma, opened in 2020.

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The partnership has produced several notable timepieces tied to specific milestones in Ohtani’s career. In 2021, Grand Seiko marked Ohtani’s American League MVP season by presenting him with the SLGH005, widely known among collectors as the “White Birch” for its dial design inspired by the birch forests surrounding the Shizukuishi studio. That watch went on to win the Men’s Watch Prize at that year’s Grand Prix d’Horlogerie de Geneve, an award frequently described within the watch industry as the equivalent of the Academy Awards for watchmaking. When Ohtani signed his landmark 700 million dollar contract with the Dodgers in 2023, he was photographed wearing an understated Grand Seiko piece rather than a more overtly flashy timepiece, a moment that drew attention from watch enthusiasts at the time.

According to Revolution Watch, the White Birch has since evolved into an updated model, the SLGH031, which preserves its original design while incorporating Grand Seiko’s newer Evolution 9 bracelet and clasp. The brand has also introduced the SLGB003, which showcases its latest generation of Spring Drive technology, a hybrid movement system unique to Grand Seiko that combines mechanical and quartz elements.

The Revolution Watch feature framed the partnership as an example of shared values rather than a simple celebrity endorsement, drawing a parallel to the Japanese concept of kaizen, commonly translated as “continuous improvement,” which holds that lasting success comes through countless small refinements rather than dramatic overnight change. The piece noted that both Ohtani’s development as a two-way player, a feat not widely achieved in modern baseball since Babe Ruth gradually shifted away from pitching to focus on hitting, and Grand Seiko’s decades-long approach to refining its cases, dials and movements reflect that same underlying philosophy.

Ohtani has continued adding endorsement partnerships beyond Grand Seiko in recent months, including a modeling collaboration with the fashion brand Hugo Boss announced earlier this year, which the company said drew inspiration from baseball aesthetics and heritage design. Industry analysts have noted that Ohtani now commands more endorsement income than any other athlete in the world, a status that has coincided with his four unanimous American League and National League MVP awards and back-to-back World Series titles with the Dodgers.

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Grand Seiko, founded more than six decades ago, has historically built its reputation primarily through craftsmanship rather than celebrity marketing, distinguishing its approach from Swiss luxury competitors such as Rolex and Omega, which have long relied on prominent athlete ambassadors as a central part of their brand strategy. Analysts covering the partnership, including Gear Patrol, have described Ohtani’s expanded role with Grand Seiko as a notable shift for the historically understated Japanese watchmaker as it seeks greater global visibility outside dedicated watch-collecting circles.

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Hibiscus Petroleum Berhad (HIBPF) Q4 2026 Earnings Call Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Leong Ling
Vice President of Corporate Development

Good afternoon, everyone, and welcome to Hibiscus Petroleum’s Quarter 4 Financial Year 2026 Results Briefing. Thank you for taking the time to join us this afternoon, especially ahead of the Merdeka long weekend.

I’m Lily Ling, VP of Corporate Development. Joining me today are Dr. Kenneth Pereira, our Managing Director; Yip CY, our CFO; Dr. Pascal Hos, our Country Head for Malaysia and Vietnam; Shaun, our Senior Manager of Corporate Finance; Deepak Thakur, our SVP Economics and Business Planning; and Song, our Country Head Brunei, both joining us online; and from my team, Andrew, [ Jehan ] and Adam. Earlier today, we released our Q4 and full year financial year 2026 results, together with our corporate and business update, press release and dividend declaration.

All the announcements are available on our website, and the presentation deck for today’s briefing is also available here in the Teams chat. As this is our final results briefing for financial year 2026, we’ll take you through the group’s full year performance as well as the latest operational and business updates. With that, let’s begin. CY, over to you.

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Chee Yip
Chief Financial Officer

Thanks, Lily, and good afternoon to everyone. So FY 2026 is done, and we have got some good numbers, hopefully, to share and we will explain each one of them. Again, thanks for joining us. So I’ll just go straight into this slide.

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Big Debt And Massive AI Bet Not Yet A Threat

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The ASIC-GPU Standoff

Big Debt And Massive AI Bet Not Yet A Threat

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