Berkshire Hathaway’s $6.8 billion deal to acquire a major home builder reflects its conviction that the housing market will shake off its yearslong slump and recover as it always has.  

With an all-cash agreement Sunday for Taylor Morrison Home Corp., the Omaha, Neb.-based conglomerate is poised to become a top-five U.S. home builder, adding to its growing portfolio of housing-related companies.

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New Delhi: The Election Commission’s ‘Special Intensive Revision’ of Bihar’s electoral rolls has sparked a major political debate. However, this is not the first time that the poll panel has ordered an ‘intensive’ revision of electoral rolls — at least nine such revisions were held from 1952 to 2004, several of which came with similar house-to-house verification and even a ‘de novo’ electoral roll in some cases. However, the EC has seldom ordered a full state intensive revision in a state 4-6 months ahead of assembly elections, as is the case with Bihar.

Factor the last such instances: In June 2004, ECI ordered ‘Intensive Revision of Electoral Rolls‘ in seven northeastern states and J&K.

Alongside, it ordered a ‘special summary revision‘ in Andhra Pradesh, Bihar, Chhattisgarh, Goa, Gujarat, Haryana, Himachal Pradesh, Jharkhand, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Orissa, Punjab, Rajasthan, Sikkim, Tamil Nadu, Uttar Pradesh, Uttaranchal, West Bengal, and Union Territories of Andaman & Nicobar Islands, Chandigarh, Daman & Diu, Dadra & Nagar Haveli, NCT of Delhi, Lakshadweep and Pondicherry.Prior to that, ‘intensive revision’ of the electoral rolls was conducted in 20 other states/UTs, including Bihar, in two phases during 2002 and 2003, except the northeastern states and J&K.

BIHAR 2025- A unique case
The 2025 SIR in Bihar is different on several counts. While an ‘intensive’ revision mostly involves a ‘de novo’ exercise, drawing up a fresh electoral roll from the scratch, the Bihar SIR is using the 2002-03 electoral roll as a base to build upon. At the same time, it involves a new pre-printed enumeration form included in the usual house-to-house verification format and document submission, associated with an ‘intensive’ revision. It is, also, very different from previous intensive revision exercises in terms of timing.

EC has seldom ordered a full state and full-scale intensive revision in a state 4-6 months ahead of scheduled assembly elections, as is the case with Bihar. Bihar saw its last intensive revision in 2002, a good three years away from the assembly polls held in October 2005.
Similarly, when the EC, on June 29, 2004 announced an intensive roll revision in eight states, it chose to leave out two states which were pending a similar intensive roll revision. These were Arunachal Pradesh & Maharashtra where assembly polls were due in October 2004.
“In Arunachal Pradesh and Maharashtra, general elections to the assemblies are to be held in the latter half of 2004. Therefore, the programme in these two states will be announced after the completion of the elections,” the EC press note on 29.06.2004 read.
Instead, a ‘special summary revision of rolls’ was announced for Maharashtra ahead of the October 2024 assembly polls with house-to-house enumeration, as per the September-December 2004 EC newsletter.

The EC has, in fact, often conducted ‘intensive’ revision in certain areas of a state. In Tamil Nadu- after inquiry reports indicated ‘shortcomings in the conduct of different levels of election officers at the time of intensive revision of electoral rolls in 2002’- the poll panel on October 19, 2004 ordered a ‘special revision of intensive nature with house-to-house enumeration’ in six municipal corporation areas across 33 constituencies, spanning parts of Chennai, Salem, Coimbatore, Tiruchirappalli, Madurai, and Tirunelveli.

In the aftermath of Gujarat riots, the ECI on August 16,2002, announced a repeat of the 2002 ‘special revision of intensive nature’.

Types Of Electoral Roll Revisions

Intensive Revision: It’s usually a de-novo process without reference to earlier existing roll; involves at least 2 household verification visits by booth-level officer

Summary Revision: Roll is simply updated; no house-to-house enumeration but objections are addressed before final roll publication

Special Summary Revision: EC can order so if it finds inaccuracies or poor coverage of any area. EC can adopt changes in existing procedure

Partly Intensive and Partly Summary Revision: Existing electoral rolls are published in draft and checked through household verification and put through claims/objection process

Roll revision chronology

1950
Originally Section 23 of Representation of the People Act, 1950 provided for annual revision with March 1 as qualifying date

1952
After first gen election in 1952, EC directed that from 1952 to 1956, annual revision of electoral rolls should cover 1/5th of entire state area so that every locality might have its electoral roll intensively revised at least once before 2nd gen polls

1956
EC directed intensive revision of rolls every year in some areas where electoral rolls were likely to become inaccurate: (i) Urban Areas (ii) Areas with floating labour population (iii) Areas where fairly large movements of population had taken place

1957
Post 1957: Lok Sabha polls: EC directed that during each of the three following years, the electoral rolls of 1/3rd of the entire state area be revised intensively, while during 1961 the revision would be intensive only in urban areas, areas with floating, migratory population and service voters

1960
Following amendments to RP Act, 1950, EC ordered annual revision of rolls between January 1 and Jan 31 of the year

1962
Post 1962 LS Polls: EC directed ‘summary revision’ adequate for 1963 and 1964. In 1965 intensive revision conducted again in 40% of the country; the rest 60% was done in 1966

1966
Post 1966: District Election Officer appointed in each district and summary roll revision conducted in 1969-70 and 1975

1976
Emergency: no Lok Sabha polls in 1976; EC held summary roll revision

1983
1983 on: Staggered intensive revision of all rural constituencies ahead of 1985 LS polls

1987-88
All constituencies revised intensively; special revision in 1989

1992
Summary revision ordered followed by intensive revision in 1993 along with introduction of EPIC card

1995
Intensive Revision comes in

1999-2000
Amid computerisation electoral rolls, no intensive revision in 1999, 2000

2002
Special intensive revision in 20 states; intensive revision in 7 states in 2003-04

SoftBank-backed digital-commerce ecosystem AceVector Ltd has filed updated draft papers with markets regulator Sebi for an initial public offering (IPO), which will include a fresh issue of shares worth Rs 300 crore.

In addition to the fresh issue, the IPO will also involve an offer-for-sale (OFS) of 6.38 crore shares by existing shareholders, according to the updated draft red herring prospectus (UDRHP).

As part of the OFS, promoter Starfish I Pte Ltd and other shareholders Nexus, Wonderful Star Pte Ltd, Kenneth Stuart Glass, Jason Ashok Kothari, Priyanka Shreevar Kheruka, Rupen Investment and Industries, and Centaurus Trading and Investments will offload their holdings.

Despite the share sale by several investors, AceVector’s promoters and founders Kunal Bahl and Rohit Bansal, who together hold a 23.56 per cent stake, will not participate in the OFS. However, another promoter entity Starfish, which owns 30.68 per cent stake in the company, will be divesting part of its stake.

The company plans to use the IPO proceeds to strengthen technology infrastructure, support marketing and business promotion for Snapdeal, pursue inorganic growth through acquisitions, and meet general corporate requirements.

The Gurugram-based company operates Snapdeal, a value-focused lifestyle e-commerce marketplace; Unicommerce, an e-commerce enablement SaaS platform; and Stellaro Brands, an omnichannel consumer brands arm.
Financially, AceVector reported operating revenue of Rs 244 crore in H1 FY26, up 34 per cent from Rs 181 crore in H1 FY25. During the same period, its adjusted EBITDA loss narrowed significantly to Rs 9.2 crore from Rs 28 crore a year earlier.

AceVector had initiated its IPO journey earlier this year by filing confidential draft papers with Sebi in July and subsequently securing approval in November. By opting for the confidential pre-filing route, the company gained the flexibility to delay public disclosure of IPO details until the later stages.

Warren Buffett and Michael Burry, two investors closely watched across global markets, are taking diametrically opposite positions on the artificial intelligence frenzy, setting up a rare, high-stakes clash over whether Silicon Valley’s hottest trade is a once-in-a-generation opportunity or a bubble waiting to burst. Their positions, revealed in recent disclosures and letters, come as concerns about an AI bubble gain mainstream attention while investors continue pouring capital into the sector.

Buffett’s Berkshire Hathaway last month unveiled a large new stake in Alphabet, instantly propelling the Google parent into Berkshire Hathaway’s top 10 holdings. The move is widely seen as an endorsement of Alphabet’s heavy AI investments and the market’s view of the company as a frontrunner in the AI race.

The investment comes at a moment of transition for Berkshire. Buffett announced in May that he will step down as CEO at the end of this year, though he will retain his stock, handing the reins to vice chairman Greg Abel after decades at the helm of a company that began as a Nebraska textile mill and grew into one of the most influential conglomerates in American finance.

Burry doubles down on his skepticism

Michael Burry, however, is moving in the opposite direction. The investor who famously profited from betting against the U.S. housing market in 2008 has taken new short positions in Palantir and Nvidia, two of the highest-profile beneficiaries of the AI boom.He has been particularly critical of accounting practices across Big Tech, arguing that companies “have been systematically increasing the useful lives of chips and servers, for depreciation purposes, as they invest hundreds of billions of dollars in graphics chips with accelerating planned obsolescence.”

Burry is also in a period of transition. Scion Asset Management, his hedge fund, will close by year-end. In a recent investor letter, he wrote that his “estimation of value in securities is not now, and has not been for some time, in sync with the markets.” He has since launched a financial newsletter, Cassandra Unchained, where he continues to express skepticism about the AI boom.

A market split as AI hype peaks

Their opposing moves come as even industry leaders begin to acknowledge stretched expectations. Sam Altman, CEO of OpenAI, has voiced concerns about the pace and scale of speculative fervor surrounding artificial intelligence.
Still, capital continues to flood the sector, and the disagreement between two investors of such high reputation underscores the uncertainty in the market. Buffett turned Berkshire Hathaway into one of the most recognizable names in American investing, while Burry inspired Michael Lewis’s The Big Short and the film adaptation starring Christian Bale.Now, with both navigating turning points in their own careers, the divergence in their AI positions is emerging as one of the most closely watched splits in the market—one that could signal whether the boom is built on solid ground or heading toward another historic correction.

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

Kaynes Technologies’ sharp 43% slide from its October peak, capped by a steep 12.5% drop on Friday, has raised questions about whether the stock is approaching a reversal zone or slipping into deeper losses. While momentum indicators remain firmly bearish, its stretched gap from the 200-day moving average suggests potential mean-reversion opportunities for tactical investors.

Edited excerpts from a chat with Anand James, Chief Market Strategist, Geojit Investments Limited:

After a flat week, how would you trade the market now? Would Friday’s RBI optimism carry forward on Monday as well? Friday’s optimism stemmed from the completion of a morning star pattern, signaling a potential reversal from the downtrend that began on December 1. However, while the downswing was brief, the reversal is also likely to be short-lived, as evidenced by Friday’s stall at 26,200, a key congestion resistance.

Although oscillators support a possible uptrend extension, we do not see sufficient momentum for a strong move higher. We favor a swing lower toward 26,085–26,065 initially. Alternatively, a breakout above 26,200 could trigger further gains toward 26,460–26,550, but a sharp vertical rise is less likely.

IT was among the major gainers in the week. Do you see chances of more upside?

Yes, the IT sector shows strong potential for further upside. Nifty IT has been signaling a reversal since September and recently broke above the weekly supertrend, indicating strength. The weekly RSI near 60, along with the index closing above its 20-week high, reinforces the positive outlook. Based on these technical cues, the index could target 39,500 in the coming weeks.
Derivative data also supports this bullish view. Over 50% of constituent stocks saw short additions in near OTM put strikes and long additions in call strikes. Additionally, 70% of stocks experienced long build-up on Friday, while 80% recorded weekly short covering, suggesting traders are positioning for further gains. Heavyweights like TCS, Infosys, HCL Tech, Wipro, and Tech Mahindra show strong weekly charts and are expected to lead the rally toward 39,500.PSU banks were under selling pressure but recovered on Friday. Does the chart indicate a fresh 52-week high again going forward?

Even though the index saw a pullback on Friday, the charts suggest a mixed outlook. The wedge pattern breakout in September and the resulting upside has been losing momentum since November. The recent breakdown below the rising trendline near 8,500 indicates a possible short-term trend shift, while the weekly MACD shows exhaustion candles, signaling early signs of consolidation. Despite this, longer-term charts still reflect underlying strength, keeping the possibility of a fresh 52-week high alive.

Derivatives data shows some recovery attempts on Friday, with long additions and short covering in stock futures, but weekly data indicates that more than half of the positions still involved short additions. Among individual stocks, SBI, Bank of Baroda, PNB, Union Bank, Canara Bank, and Indian Bank may see a quick pullback early next week, though sustainability remains uncertain. The preferred strategy is to capitalize on any early upside next week while remaining cautious in the latter half.

Kaynes ended the week down 21% amid negative reports. Do you see chances of an upside bounce or is it too risky to chase the falling knife?

Kaynes has now fallen 43.5% from its October peak, with Friday’s 12.5% decline marking the steepest single-day drop during this period. Momentum indicators and oscillators point to a strong downward trend with no signs of bearish exhaustion, raising the risk that the slide could extend to at least the year’s low of Rs 3,825 seen in February. That said, the severity of Friday’s fall suggests that fear may have peaked.

Adding to this view, the only previous occasion the stock had stretched so far from its 200-day moving average was in April, when the gap was around 25%. Currently, the stock is nearly 26% away from the 200-day SMA, prompting close monitoring for potential mean-reversion moves in the coming week. Given the contrarian nature of this view, the downside marker is advised slightly below Rs 4,300, with Rs 4,541 as the initial recovery target.

Give us your top ideas for the week ahead.

COFORGE (CMP: 1977)

View: Buy

Target: 2080-2180

SL: 1882

The stock has been in a steady uptrend since 2020 and is currently forming a Cup and Handle pattern on the charts. It is attempting a breakout from this formation, supported by a weekly RSI near 60 and a MACD above the signal line. The price action remains strong, trading well above the 20-, 50-, and 100-day moving averages, reinforcing the bullish outlook. The stock is expected to move toward Rs 2,080 and Rs 2,180 in the near term. Long positions should be protected with a stop-loss placed below Rs 1,882.

ABCAPITAL (CMP: 358)

View: Buy

Target: 368-377

SL: 348

The stock has maintained a strong uptrend since February 2025 and continues to show strength on both daily and weekly charts. The weekly MACD remains above the signal line, and the price is trading comfortably above the 20-, 50-, and 100-day moving averages, reinforcing the bullish outlook. The stock is expected to move toward Rs 368 and Rs 377 in the near term. All long positions should be protected with a stop-loss placed below Rs 348.