The newly-introduced closing auction session (CAS) led to weak participation in BSE, with Nuvama highlighting that the thin liquidity appears to be “feeding on itself”, discouraging further volumes and weighing on earnings.

However, the brokerage suggests this vicious cycle can only be broken by higher participation. In its weekly report, it noted that BSE’s index option premium volumes (ADPTV) stood at around Rs 15,600 crore during the week which ended this Friday. This marks a sharp 14% plunge from the previous week. Average daily contracts also declined more than 8% week-over-week to Rs 9.6 crore.

This overall resulted in a 6% WoW decline in premium per contract to Rs 1,631, according to calculations made by Nuvama Institutional Equities. This highlights investor worries around the newly introduced closing auction system.

What is CAS?

Indian stock exchanges introduced CAS on August 3, changing the way closing prices are calculated for stocks included in the futures and options (F&O) segment. Under CAS, continuous trading in stocks that also have F&O contracts ends at 3:15 pm. However, this does not mean these stocks are closed for the day 15 minutes before the broader market shuts.
From 3:15 pm onwards, these stocks move into the CAS, a 20-minute auction process that runs until 3:35 pm to determine their official closing prices. Meanwhile, stocks that are not part of the F&O segment continue to trade as usual until 3:30 pm.

During the 20-minute auction window, buy and sell orders for eligible stocks are collected and matched at a single equilibrium price. This mechanism is aimed at improving price discovery and reducing the impact of last-minute trades on closing prices.

CAS chaos unfolds

The introduction of CAS sparked confusion among market participants, resulting in lower participation. A sharp divergence was seen in the benchmark indices Sensex and Nifty, with several retail traders going on to the extent of declaring a boycott on August 12.While panic prevails on Dalal Street, some analysts pointed out that these are initial teething issues that will gradually fade away. Sebi officials during their meetings with market players said that the new system is just facing teething issues in its early days and that the regulator remains confident it will improve as participation rises.

Also read | CAS chaos: Retail traders call for boycott, declare ‘No Trade Day’

Manipulation of Sensex during CAS?

The CAS debate got amplified after Sebi has passed an ex-parte interim order against Copthall Mauritius Investment Limited and Mansi Share and Stock Broking Private Limited for alleged manipulative trades during the closing auction session on BSE’s Sensex weekly expiry day.

Sebi did not at this stage allege that Copthall and Mansi acted in concert. It said the two entities adopted opposite but aggressive price-impacting strategies during the same CAS session. Copthall’s orders pushed the index up while Mansi’s orders pushed it down temporarily until cancellation. The regulator calculated wrongful gains of Rs 2.96 crore for Copthall and Rs 71.64 lakh for Mansi, taking the total alleged wrongful gain to Rs 3.67 crore.

Also read | Explained: How a JP Morgan unit and a Mumbai-based stock broking firm allegedly manipulated Sensex during CAS

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

Meghan Markle, the Duchess of Sussex, is reportedly in discussions to return to acting with a role in Netflix’s crime comedy series “The Gentlemen,” according to multiple outlets, marking a potential return to the profession she stepped away from after marrying Prince Harry in 2018.

Deadline was first to report Markle’s potential involvement in the series, created by British filmmaker Guy Ritchie and based on his 2019 film of the same name. According to the outlet, the talks remain in “very early stages” and are still considered “hypothetical,” in part because “The Gentlemen” has not yet been officially renewed for a third season by Netflix, citing unnamed sources familiar with the discussions.

The Hollywood Reporter offered additional detail on the state of negotiations, describing Markle as being in “advanced discussions” to join the series’ cast, according to TVLine’s coverage of that report. TVLine noted that the role currently being considered is still in the writing process, and that no specific details about the character have been released publicly. The outlet also reported that Markle met series creator Guy Ritchie “through mutual acquaintances,” according to The Hollywood Reporter’s sourcing.

A source close to the family offered a more cautious characterization of where things currently stand, telling HELLO! magazine that Markle’s return to acting remains under consideration rather than confirmed. “There have been inquiries in the entertainment space recently and things that she is considering but nothing is firm yet,” the source said.

“The Gentlemen” debuted on Netflix in March 2024 and stars Theo James as Eddie Horniman, a former army captain who unexpectedly inherits his late father’s estate, along with the sprawling criminal enterprise that comes attached to it. The series also features Kaya Scodelario as crime boss Susie and Ray Winstone as Susie’s imprisoned father, Bobby. The show’s second season is scheduled to premiere Thursday, Sept. 3, 2026, with all eight episodes releasing simultaneously, according to TVLine.

The reported talks come as Markle and Harry prepare for a significant relocation. According to multiple outlets, the couple is planning an extended stay in the United Kingdom with their two children, Prince Archie, 7, and Princess Lilibet, 5, who are expected to be enrolled in school in Britain this fall. E! News reported that the move is not intended to be permanent, and that the family is retaining both their Montecito, California, estate and a separate vacation property in Portugal even as they relocate temporarily to Britain.

Some reports have suggested a direct connection between Markle’s potential acting role and the family’s decision to return to the UK. According to TVLine, certain reports have characterized the possible role on “The Gentlemen,” which films in England, as “a key part of the puzzle” behind the couple’s broader relocation plans, though that characterization has not been formally confirmed by Markle, Harry or their representatives.

Markle’s best-known acting role remains Rachel Zane, a paralegal-turned-attorney she played across seven seasons of the USA Network legal drama “Suits.” She has not taken on an acting role since marrying Harry in 2018 in a ceremony at St George’s Chapel in Windsor. At the time, she told the BBC the marriage marked the beginning of a “new chapter” in her life. Beyond “Suits,” her earlier film credits included the comedy “Horrible Bosses,” the romantic drama “Remember Me,” and several Hallmark television movies.

Markle addressed the question of a potential return to acting directly in a 2022 interview with Variety, where she appeared to firmly rule out the possibility at the time. “I guess never say never,” Markle told Variety, “but my intention is to absolutely not.”

Despite stepping back from scripted acting, Markle has remained an active on-screen presence in other formats since leaving the industry. She and Harry launched a production company, Archewell Productions, and signed a content partnership with Netflix following their departure from royal duties. Through that partnership, Markle released the 2022 docuseries “Harry & Meghan,” and more recently produced and starred in “With Love, Meghan,” an eight-episode lifestyle and cooking series that premiered on Netflix in January 2025. In the trailer for that series, Markle described her creative approach to the show. “I’ve always loved taking something pretty ordinary and elevating it,” she said. Netflix described the series as one that “reimagines the genre of lifestyle programming, blending practical how-to’s and candid conversation with friends, new and old,” featuring guest appearances from figures including chef Roy Choi, actress and comedian Mindy Kaling, and chef Alice Waters.

Markle’s continued visibility in the entertainment industry was further underscored earlier this summer when “With Love, Meghan” earned her first-ever Daytime Emmy nomination, in the Outstanding Lifestyle Program category, announced July 14 ahead of the 2026 award show.

Neither Guy Ritchie nor a representative for Netflix has publicly confirmed Markle’s involvement in “The Gentlemen,” and multiple outlets covering the story, including ComingSoon, cautioned readers to treat the reports as speculative given the early and unconfirmed nature of the discussions. As of this report, “The Gentlemen” also has not been officially renewed by Netflix for a third season, meaning any role for Markle would remain contingent on that broader renewal decision being finalized.

The reported talks arrive roughly a month after Harry, Markle and their children met privately with King Charles III and Queen Camilla, in what Buckingham Palace described as a private family visit. Harry has also made additional visits to London in recent months, including one tied to ongoing legal proceedings. As the couple prepares for their broader return to the UK in the coming weeks, further details regarding both the family’s relocation and any potential formal announcement regarding Markle’s involvement in “The Gentlemen” are expected to emerge as negotiations, if they continue, move beyond their current early stage.

Hyderabad-based Gemini Edibles & Fats India (GEF), which makes edible oils under the brand name Freedom Oils, filed its draft papers for initial public offering (IPO) entirely comprising an offer for sale with capital markets regulator Sebi.

The company, which claims to be one of the largest regional branded edible oil players in the Indian market with a presence in Southern India and some other parts, is primarily engaged in the trading, processing, manufacturing, and marketing of edible oils and specialty fats. The selling shareholders plan to sell up to 4.12 crore equity shares as part of the OFS.

Selling shareholders

Since the IPO has no fresh issue component, the company will not receive any proceeds from the offering. The funds raised through the OFS will go to the selling shareholders, including promoters Alka Chowdhry and Golden Agri International Enterprises, along with investors Black River Food 2 and Investment and Commercial Enterprise.

Also read | CAS chaos triggers liquidity spiral: Nuvama says higher participation needed to break cycle

Gemini Edibles & Fats India is also the largest sunflower oil selling company within the branded market in terms of revenue with a market share of 18% in FY26. It has more than 1,600 distributors, 3 lakh retail outlets and over 60 warehouses and stock points across key markets.

Gemini Edibles & Fats financials

On the financial front, Gemini Edibles & Fats’ revenue from operations increased to Rs 12,650 crore in FY26 from Rs 10,755.95 crore in FY25. According to a report by TKC, the company’s branded revenue grew at a compound annual growth rate (CAGR) of 20.5% between FY20 and FY25, compared with 10.1% growth for the overall branded edible oil market.
The shares of the company will debut on stock exchanges BSE and NSE after the IPO. Motilal Oswal Investment Advisors and IIFL Capital Services are the book running lead managers for the IPO.Also read | IPO-bound Upstox crosses 2 crore customers, eyes 10 crore users in five years

(With inputs from agencies)

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

ATLANTA — Quality Control Music co-founder and CEO Pierre “P” Thomas has been hospitalized following a medical emergency, the Atlanta-based record label confirmed in a statement Friday, though the specific cause of his hospitalization was not immediately disclosed.

“We want to clarify that Pierre ‘P’ Thomas is alive and currently hospitalized receiving medical care,” Quality Control Music wrote in a statement shared on social media Friday, Aug. 21. The label asked for privacy for Thomas and his loved ones as he continues treatment. “We ask that everyone keep P and his family in their thoughts and prayers and respectfully give them the privacy and space they need during this time,” the statement said. The label closed its message by acknowledging the outpouring of concern from fans and industry figures following news of Thomas’ hospitalization. “We deeply appreciate everyone’s concern, support, prayers, and loving energy right now,” the statement concluded.

Thomas, 45, co-founded Quality Control Music in March 2013 alongside Kevin “Coach K” Lee, building the label into one of the most influential hip-hop imprints of the past decade. According to the company’s official website, the label has become known for identifying and developing emerging artists early in their careers. “Quality Control is known to find and develop smaller artists, which is the reason why many Quality Control artists seem to come out of nowhere,” the label’s website states, adding that the company relies on internet-based analytical tools to target the specific audiences where its artists have the strongest early followings.

Under Thomas and Lee’s leadership, Quality Control helped launch the careers of several major hip-hop acts, including the trio Migos, along with rappers Lil Yachty and Lil Baby, among other artists who rose to prominence through the label over the past decade.

Quality Control expanded well beyond music in 2018, launching a dedicated sports management division. According to Billboard, Lee’s nephew, New Orleans Saints running back Alvin Kamara, was among the athletes signed to that division following its launch. Billboard also reported that rapper and entrepreneur Cardi B previously held a consulting arrangement with the company, reflecting the label’s broader ambitions beyond traditional artist management and record production.

Thomas and Lee’s contributions to the music industry have been formally recognized on multiple occasions. The pair received Billboard’s Executive of the Year Award in 2018, and later became the inaugural recipients of Billboard’s first peer-voted R&B/Hip-Hop Power Players’ Choice Award in 2023, underscoring the significant influence Quality Control has built within the broader hip-hop industry since its founding.

News of Thomas’ hospitalization arrives amid a broader stretch of health-related news within the entertainment industry in recent days. Big Machine Label Group Chief Executive Scott Borchetta was reported to be in “stable condition” after suffering what was described as a “big hit” during a racecar accident, according to separate coverage from People. Those two developments, while unrelated, have together drawn heightened attention to the health of prominent music industry executives in recent days.

Representatives for People magazine indicated they had reached out to a spokesperson for Quality Control Music seeking additional information regarding Thomas’ condition and the circumstances surrounding his hospitalization, though no further details had been provided publicly as of the label’s initial statement Friday.

The label’s decision to issue a public statement confirming Thomas was hospitalized, while explicitly emphasizing that he remains alive, suggests the company was responding directly to unconfirmed rumors or speculation that had begun circulating about his condition prior to the official announcement. Public figures and their representatives frequently issue similarly worded statements specifically to correct inaccurate information spreading on social media during a medical emergency, particularly when unverified reports risk causing unnecessary alarm among fans, family members and industry colleagues.

As of Friday night, Quality Control had not released additional information regarding the nature of Thomas’ medical emergency, his current condition beyond being hospitalized, or an expected timeline for any further updates. The label’s statement did not indicate whether Thomas’ hospitalization was connected to any preexisting health condition or whether it stemmed from a sudden, unrelated incident.

Thomas’ role at the center of Quality Control’s operations has made him one of the more recognizable executive figures in contemporary hip-hop, given the label’s outsized influence on the genre’s commercial landscape over the past decade. The company’s continued operations and its roster of prominent artists mean that any significant health event affecting either of its co-founders is likely to draw substantial attention and concern from across the music industry, reflected in the label’s own acknowledgment of the “concern, support, prayers, and loving energy” it said it had already received in the hours following its initial statement.

As tributes and well-wishes continue circulating following the announcement, further updates regarding Thomas’ condition and prognosis are expected to come directly from Quality Control Music, consistent with the label’s request that the public respect the family’s privacy during what remains an evolving and still-developing situation. This is a developing story, and additional details are likely to emerge as Thomas continues to receive medical care and as the label determines what further information, if any, it plans to share publicly regarding his health and recovery.

For NRIs looking to invest Rs 1 crore in India over a 5-7 year horizon, deciding how much to allocate to equities, fixed income, gold and alternatives can be challenging, particularly when existing India exposure and global assets also need to be considered.

In an interaction with Kshitij Anand of ETMarkets, Rohit Sarin, Co-Founder, Client Associates, said NRIs should take a holistic view of their global portfolio, India exposure, liquidity needs, risk appetite and tax situation before investing.

While he favours a meaningful allocation to equities, Sarin suggested an illustrative framework of 55-65% in equities, 15-20% in fixed income, 5-10% in gold and 5-10% in alternatives, with the balance in real assets or other diversifiers. The following are the edited excerpts from the chat:

Q) India continues to attract significant interest from NRIs. What are the biggest hurdles NRIs still face when trying to invest in Indian equities and mutual funds, despite the process becoming increasingly digital?

A) The biggest hurdle is no longer access to India; it is navigating the complexity around access. The digital journey has improved considerably, but NRIs still have to deal with the right account structure, KYC, FEMA requirements, repatriation rules, taxation and documentation across different investments.
For a serious NRI investor, therefore, the challenge is less about being able to buy an Indian equity or mutual fund and more about creating a seamless framework for investing, monitoring and eventually repatriating wealth. This is particularly important for families with significant India exposure, where investments need to be considered as part of the overall global portfolio rather than in isolation.

Q) With the rupee hitting Rs 96 per USD, has it impacted NRI investments into India? What is the general mood?

A) INR depreciation against the USD has been a dampener for NRIs investment into India since that eats into their real returns in USD or the currency of their country of residence. The only solution to that is for an NRI investor to approach their India allocation as a strategic allocation to participate in India’s long term growth story.
Besides that additional benefit could be that India allocation would help to diversify their global portfolio on account of poor correlation of Indian markets with US and other emerging markets.The minimum time horizon which NRIs need to look for India allocation is 10 years to achieve the dual objectives of growth and diversification.

However, NRI investors perception of India remains anchored to the times when they left India for the greener pastures and therefore they come late to the party as a tactical allocation when markets in India have already run up and therefore either the correction in Indian markets of the depreciation of the INR hits them too soon to have a good experience.

Q) For an NRI looking to invest in Indian stocks, how should one decide between an NRE and NRO account? What are the key differences from an investment and repatriation perspective?

A) The choice should primarily be driven by the source of funds and the investor’s repatriation requirements.

Broadly, an NRE account is designed for foreign earnings and offers greater flexibility for repatriation, while an NRO account is typically used for managing income earned in India and has more restrictions around repatriation.

For an NRI investing in Indian securities, the account structure should therefore be decided upfront rather than after the investment has been made. The distinction becomes particularly important when the objective is to eventually move investment proceeds back overseas.

The RBI framework permits NRIs to invest in Indian securities through prescribed routes, with the repatriation treatment depending on the investment and account structure.

For larger portfolios, we would recommend taking a holistic view of the account structure, FEMA requirements, taxation and eventual repatriation before deploying capital.

Q) Are NRIs under-allocated to Indian equities compared with their overall exposure to India? Which asset classes should they consider beyond direct stocks and mutual funds?

A) There is certainly a case for NRIs to look at their India exposure more holistically. Many NRIs already have significant economic exposure to India through family businesses, real estate, employment or other assets. Their financial portfolio should therefore complement, rather than simply replicate, that exposure.

From a financial asset perspective, given the choice of instruments and asset classes available globally for comparable returns in USD the best asset class for NRIs to look at would Indian equities.

Q) Tax is often one of the biggest concerns for NRIs. How should they think about the tax treatment of equity, mutual funds, bonds, FDs and alternative investments in India?

A) Tax should be considered at the portfolio-construction stage, not after an investment has already been made.

The treatment can differ significantly depending on the asset, holding period, nature of income, account structure and the NRI’s country of tax residence. Double Taxation Avoidance Agreement provisions can also become relevant.

Therefore, there is no single “NRI tax rate” that can be applied across equities, mutual funds, bonds, FDs and alternatives. Each asset class needs to be evaluated on its post-tax return, liquidity and repatriation characteristics.

Q) Are you seeing greater interest from NRIs in newer products such as AIFs, PMS, private credit, REITs and InvITs? Which could see the biggest growth in NRI portfolios?

A) We see increasing interest in moving beyond traditional listed equities and mutual funds, particularly among sophisticated NRI investors who are looking for diversification and differentiated sources of return.

AIFs and private credit can be particularly relevant for investors with the appropriate risk appetite and investment horizon, while REITs and InvITs can provide access to real assets without requiring direct ownership.

However, we would not expect one product category to become the universal answer. The growth opportunity will come from greater portfolio diversification, with alternatives being used selectively alongside a strong core allocation.

Q) If an NRI has Rs 1 crore of surplus money to invest in India with a 5–7-year horizon, how would you divide it across equities, fixed income, gold, real estate and alternatives?

A) We would be cautious about giving a single allocation without understanding the individual’s existing global portfolio, India exposure, liquidity requirements, risk tolerance and tax situation.

However, for an investor with a 5–7 year horizon and a moderate-to-high risk appetite, our current stance would support a meaningful allocation towards equities, complemented by diversifiers.

As an illustrative framework rather than a personalised recommendation, one could think about approximately 55–65% in equities, 15–20% in fixed income, 5–10% in gold, 5–10% in alternatives and the balance in real assets or other diversifiers.

The important point is that the allocation should be considered alongside the NRI’s existing exposure to Indian business, real estate and global assets.

This is particularly relevant today because CA remains Overweight on equities but Neutral on fixed income.

Q) Could we see more India-focused global funds or India-domiciled products in GIFT City designed specifically for overseas Indians?

A) Yes, we believe this is an area with significant potential.

The opportunity is to create investment structures that give overseas Indians efficient access to India while reducing some of the administrative and operational complexity associated with investing directly through multiple domestic accounts.

GIFT IFSC is already developing into a broader international investment platform, with products spanning equities, ETFs, debt, AIFs and mutual funds. IFSCA specifically highlights NRI access to Indian and global securities and fund structures through the IFSC.

As the ecosystem matures, we could see more products designed around the specific needs of global Indians, particularly those who want India exposure within a globally integrated portfolio structure.

Q) What new financial product is currently missing from the Indian market that could significantly improve the investment experience for NRIs?

A) I would actually argue that the bigger gap is not necessarily another investment product.

It is a better investment architecture for the global Indian.

An NRI often has assets, liabilities, businesses and family interests spread across India and one or more overseas jurisdictions. What is still missing is a truly integrated solution that can bring together global asset allocation, Indian investments, taxation, currency exposure, liquidity and succession within one coherent framework.

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