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Eternal, startups and playing the long game
In a country beset with problems, there is always something better to do. How about your duty to your shareholders first? Separately, Urban Company’s latest quarterly results show fatigue
24 Jan 2026
Why Adani Green’s rapid expansion is hurting its bottom line
The renewable energy firm’s profit plunges 99% to its lowest since 2020 as surging finance costs erase gains from record energy sales.
23 Jan 2026
Tata Steel’s climate reckoning
Tata Steel battles protests and litigation in the Netherlands. Separately, India’s solar market powers ahead and ESG investing redraws its boundaries.
23 Jan 2026
India’s study-abroad industry gets a crushing reality check
In the last two years, foreign education plans have been dealt a body blow by changes in regulation, a rise in fraudulent activities and misaligned incentives for brokers, students and foreign universities. Indian students are among the worst hit.
22 Jan 2026
Eternal’s leap of faith: exit Goyal, enter Dhindsa
Deepinder Goyal’s handing of Eternal’s reins to Albinder Dhindsa raises uncomfortable questions about timing, risk and whether shareholders are being asked to trust yet another reassuring narrative.
21 Jan 2026
United Spirits needs some animal spirits
The country’s largest liquor company just announced solid Q3 numbers. It has a product portfolio its peers envy. Its advertising budget is the largest. Yet, it’s the worst performing liquor stock.
21 Jan 2026
SBI Funds Management’s run-up to an IPO is too messy, too expensive
Low profitability, lagging metrics and a lack of succession planning are expected to weigh heavily on the proposed stock market debut of India’s largest asset management company.
20 Jan 2026
New complications for sovereign funds in the US
The American government proposed threatening tax tweaks, a local fintech raised a quarter of a billion dollars in seed money and open finance made a start.
20 Jan 2026
BellaVita’s success has opened the floodgates to cheap fragrance brands
In less than five years, BellaVita has become one of the biggest fragrance brands in India. This has given several others confidence to follow the same playbook and sell cheap perfumes disguised as luxury.
19 Jan 2026
Anil Agarwal’s Hindustan Zinc hits the sweet spot
The silver rally has helped the primary cash generator of Agarwal’s mining empire return record numbers in Q3. Investors are pleased. But a few questions linger.
19 Jan 2026