Indian markets end marginally lower this week amid subdued Q1 earnings, global sentiment
The Nifty50 breached the key level of 24,900, and reached 24,837 when the market closed on Friday. FIIs consistently remained net sellers for last five sessions, reflecting broad-based selling pressure. Mid-cap and small-cap indices saw steeper corrections, underperforming the benchmark.
"Technically, Nifty is trading below its 20- and 50-day EMAs, indicating a bearish short-term trend. The next immediate support to watch is at 24,750, and if this level breaks, further correction may push the index down toward 24,580 near the 100-day EMA — an important technical support zone," said Mandar Bhojane from Choice Equity Broking Private Limited.
Meanwhile, the United States' new law on stablecoins, Genius Act, threatens to reshape the flow of capital in India, China and other economies, where banks may be compelled to allow transactions in stablecoins through subsidiaries.
With tariff uncertainty still elevated, the India-UK free trade pact, signed this week, is a boost to ,any stocks from textiles, automobile, pharmaceuticals and jewellery poised to benefit from the reduction, and in some cases elimination, of tariffs.
Vinod Nair, Head of Research, Geojit Investments Limited said, "The finalisation of the US-Japan and India-UK trade agreements marks a key step in easing global trade barriers. A resolution of the US–India mini trade deal by August 1 could further allay investor concerns'.
Private banks like ICICI and HDFC Bank reported steady Q1 earnings. Improved fundamentals and valuations helped PNB Housing Finance and Bajaj Finance.
"The sectoral laggards, including IT and financials, were adversely impacted by subdued guidance and emerging concerns around asset quality. Subpar aggregate earnings performance is likely to challenge the sustainability of current premium valuations across benchmark indices, and we expect a consolidation in the near term," Nair said.
While the global economy is experiencing volatility, India's macroeconomic indicators are cautiously optimistic. The Reserve Bank of India's latest bulletin (RBI) shows a domestic economy that is resilient in the face of global headwinds. Headline inflation has reached its lowest level in years, fuelling expectations of further rate cuts.
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Hans India
13 minutes ago
- Hans India
Homegrown brand Tenali Double Horse rides the quick commerce wave to pan-India success with Instamart
For many younger, urban consumers, platforms like Instamart have become the gateway to discovering regional gems. One such story comes from a Bangalore-based software engineer who stumbled upon Tenali Double Horse while looking for premium-quality dals during a late-night grocery run on Instamart. 'I had never heard of the brand before, but the packaging looked authentic, and the reviews were great. I tried their Urad Gota—and now I don't buy anything else.' she shared. Stories like these reflect a growing trend where digital discovery is breathing new life into legacy brands, bridging the gap between tradition and convenience for a new generation of urban Indian consumers. With two decades of agricultural excellence, Tenali Double Horse, a premium pulses brand from Tenali in Andhra Pradesh's Guntur district, is broadening its retail reach by tapping into India's fast-growing digital consumer base. Nearly 20% of its online business now comes through Instamart, supporting its growth into new markets. Today, Tenali Double Horse, a small brand born in the heart of Andhra Pradesh, is accessible across 12 Indian states - Andhra Pradesh, Telangana, Karnataka, Tamil Nadu, West Bengal, Delhi NCR, Maharashtra, Odisha, Punjab, Haryana, and Kerala on Instamart. This highlights how quick commerce platforms are enabling legacy and regional brands to reach wider geographies and new customer segments, particularly urban consumers seeking speed, quality, and convenience. Founded by Mr. Mohan Shyam Prasad in 2005, the brand's entry into quick commerce via Instamart demonstrates how traditional businesses are leveraging modern retail to meet the growing demand for accessible, high-quality food. Its flagship product, Urad Gota, has earned strong brand loyalty and drives repeat purchases, while other staples like Toor Dal, Moong Dal, Channa Dal, and Idly Ravva are emerging as top sellers in the Dals & Pulses category on Instamart. 'At Instamart, we're committed to enabling India's most trusted and promising brands to reach consumers with speed, quality, and ease. Tenali Double Horse represents the best of regional excellence, and our partnership showcases how traditional businesses can thrive in the quick commerce ecosystem. Consumers today are actively seeking high-quality, authentic products they can trust, and Tenali Double Horse's standout offerings like Urad Gota, Urad Ladoo, and Millets Ladoo are consistently becoming pantry essentials for users across India.' said Arjun Choudhary, VP Revenue & Growth, Instamart He added, 'By bridging deep-rooted legacy with modern convenience, we're not only expanding access to premium, homegrown products but also empowering heritage regional brands to scale rapidly and connect with a new generation of digital-first consumers.' "While our brand enjoys strong recognition and demand in the market, Instamart has helped us connect with time-crunched urban consumers across India who appreciate quality and seek convenience. It has helped us serve both our loyal customers more efficiently and introduce our products to first-time buyers beyond our geographical presence. We have also leveraged Instamart's platform insights to diversify and innovate our product range to meet the taste of modern consumers looking for authentic and high-quality traditional items like millet-based items, pickles, gunpowder, chocolates, and more." said Mohan Shyam Prasad, Founder of Tenali Double commerce has empowered Tenali Double Horse to not just streamline its sales and logistics but also fast-track product feedback and innovation cycles. Beyond their renowned pulses and dals, the brand has expanded its portfolio to high-demand items such as authentic pickles, gunpowders, spices, savouries, dry fruits, and chocolates. Catering to health-conscious consumers, Tenali Double Horse has also diversified from its core pulses business into millets, offering urban and conscious buyers an interesting range of offerings like millet laddus, millet noodles, millet cookies, millet-based ready-to-cook and ready-to-eat products, including six variants of whole grains and its hot-selling Urad Laddus, which will soon be available on Instamart. Maintaining its quality-first approach, Tenali Double Horse is positioning itself to capture the emerging health food market by combining its regional authenticity with the speed and convenience of quick commerce.
Indian Express
13 minutes ago
- Indian Express
What is driving rural distress in India?
— Ritwika Patgiri The Government has recently imposed a cap of 60 per cent on the spending under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) for the first half of the financial year 2025-26. Until now, the scheme has operated as a demand-driven programme with no such spending limit. The capping has been seen as a challenge for rural communities relying on it, especially during the lean agricultural season. It has also been argued that around 20 per cent of the first half's budget is usually spent on clearing pending wages of the previous year. The mandate comes at a time when data from the Ministry of Rural Development has shown a 4.5 per cent rise in households demanding work under MGNREGS between June 2024 and June 2025. In June 2024, around 26.39 million households sought work under the scheme in June 2024, which rose to 27.59 million in June this year. The year 2025 marks two decades since the implementation of MGNREGS, which aimed to provide at least 100 days of guaranteed wage employment to one member of every Indian rural household. The scheme was implemented against the backdrop of declining real agricultural wages after the 1991 economic liberalisation. MGNREGS (based on MGNREG Act, 2005) also came against the backdrop of rural development policies shaped for poverty reduction and capital formation. The scheme sustained over the years, and notably during Covid-19 lockdown absorbed a large number of returning migrant workers. However, in recent years, the scheme faced issues such as inadequate budget allocation and delayed wage disbursement. As of 2018-19, only 7.4 per cent of rural households, on average, availed of 100 days of work. In 2023-24, an average MGNREGS household worked only for 52 days. Since the pandemic, there has been a rise in the number of people demanding MGNREGS work. However, the growing gap between the demand for work and its availability underlines a larger rural distress, where finding employment since the lockdown has become difficult. Data from the Centre for Monitoring Indian Economy (CMIE) highlights key indicators of this distress: — Rural wage contraction — High rural inflation — High demand for employment under MGNREGA, and — Sluggish rural consumption. These issues are closely linked to the developments in the agriculture sector. Agriculture remains India's largest sector for employment, accounting for 46 per cent in 2023-24, while contributing only 16 per cent to the country's GDP. During the last eight years, the real Gross Value Added (GVA) of agriculture has increased by 4.9 per cent. The projected growth rate of agriculture in FY 2025 is 4.6 per cent compared to 2.7 per cent in FY 2024. Nonetheless, despite this, real wages of agricultural workers have largely remained stagnant. The projections for growth are based on a good Kharif harvest and are contingent on an equally positive Rabi (winter) harvest, which is largely dependent on climatic conditions. In India, the agricultural workforce consists of cultivators and agricultural labourers. Agricultural labourers work on land owned by others in return of wages, paid in cash or kind. Cultivators, on the other hand, own land or operate land through lease or contracts. The stagnation in real wages of agricultural workers, along with an increase in agriculture's share of employment from 42.5 per cent in 2018-19 to 46.1 per cent in 2023-24, reveals issues within the sector and the broader Indian economy. The 'buffer' or 'fallback' nature of agriculture became evident during the Covid-19 pandemic and the lockdown. Studies have found how rural households went back to agriculture in the absence of other alternatives during the lockdown. Migrant workers returning to their respective areas also took up agricultural work as a 'fallback' option. This shows that agriculture remains important for rural labour. At the same time, sustained agricultural growth and rise in farmers' income are dependent on public investment and structural reforms in the sector. According to NABARD's All India Rural Financial Inclusion Survey (2021-22), the average monthly income of agricultural households was Rs 13,661 compared to Rs 11,438 of non-agricultural households. For agricultural households, income from cultivation forms one-third of the total income and is the primary source. Agricultural households have also shown more diversification into other income sources as compared to non-agricultural households. The story of the emergence of non-farm employment among rural households is closely related to the transformation of the rural economy post-Green Revolution. India's economic growth between the 1960s and 1980s has been termed by the late economist Raj Krishna as the 'Hindu rate of growth', referring to the low economic growth that averaged around 4 per cent. During the 1960s, the growth rate of agriculture was around 1 per cent annually, which increased slightly to 2.2 per cent between 1968-69 and 1975-76. The Green Revolution of the early 1970s helped the country achieve food sufficiency in foodgrains like rice and wheat. However, the impact of this revolution was uneven, evident in: — Rising regional disparities — Neglect of rainfed areas — Neglect of nutritional crops, like millets, and non-food grains, and — Exclusion of resource-poor farmers Moreover, it also raised concerns about issues of ecological degradation and long-term environmental sustainability. Another debate around the Green Revolution in India has been around its role in the emergence of the rural non-farm sector. The mainstream view holds that Green Revolution technologies, by boosting agricultural productivity and farmers' income, create consumption linkages that generate demand for goods and services produced by small-scale, labour-intensive rural entities. This, in turn, creates backward linkages and spurs demand for agro-processing goods. Studies indicate that states like Punjab, Haryana, and West Bengal have benefitted from such growth patterns. However, there's a flipside to it – a contrasting perspective suggests that because of rising input costs and uneven distribution of the benefits of the Green Revolution, many rural households were pushed to opt for alternative non-farm sources of income. Hence, it has been argued that rural non-farm employment was often driven by distress. In fact, the nature of the emergence of the rural non-farm economy is contentious. There is, however, evidence that a large number of farmers are increasingly relying on borrowing to manage their agricultural activities as a result of rising costs of cultivation, including the cost of labour, fertilizers, and machinery. The larger question on the current rural distress indicates that despite growth in the agricultural sector, rural workers struggle to find adequate employment. While supply side policies like easing credit access, reducing direct taxes (like corporate taxes), and promoting the ease of doing business are important, they fall short of addressing the basic concerns of job creation and the quality of employment available to rural workers. MGNREGS, for instance, was implemented on the basis of a legal right to employment. But the spending cap neglects the demand-driven nature of the scheme. Moreover, public investment in agriculture needs to be scaled up, particularly in areas like irrigation, storage, and climate-resilient farming practices. Both MGNREGA and agriculture acted as 'fallback' options during the pandemic-induced lockdown, a fact that cannot be overlooked in future policy decisions. Examine the impact of the recent cap 60 per cent on MGNREGS spending on rural employment and livelihoods. What do you think could be the possible implications of spending cap on the scheme? Despite growth in agriculture, rural workers continue to face employment challenges. Discuss the structural issues underlying this paradox. MGNREGS functioned as a safety net during times of crisis, such as the COVID-19 lockdown. Comment. Discuss the role of MGNREGS and agriculture as 'fallback' options in the rural labour market. What does this indicate about the state of rural employment in India? (Ritwika Patgiri is a doctoral candidate at the Faculty of Economics, South Asian University.) Share your thoughts and ideas on UPSC Special articles with Subscribe to our UPSC newsletter and stay updated with the news cues from the past week. 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Time of India
20 minutes ago
- Time of India
US firm tells employees to clock out for restroom breaks: Here's why labour laws matter now more than ever
US firm tells employees to clock out for restroom breaks. In a recent case that sparked widespread attention online, a US-based employee exposed a company's controversial policy requiring workers to clock out for using the restroom. When legal risks emerged, the company shifted tactics, opting instead to discipline staff who spent more than ten minutes in the bathroom. Backed by HR, the policy led to formal write-ups and threats of termination masked as 'coaching.' But one employee didn't stay silent. Armed with legal knowledge, documentation, and state laws on workplace recording, they filed a complaint with OSHA (Occupational Safety and Health Administration). The case now serves as a striking reminder: labor laws are not just fine print, they're essential protections for every employee, and a crucial area of understanding for future HR professionals, business leaders, and students entering the workforce. Here is the Reddit post shared by a US-based employee: Reddit post highlighting the incident about US-based firm monitoring restroom breaks taken by employees. When bathroom time becomes company policy The issue began when management floated the idea of having employees clock out during restroom breaks, meaning time away from their workstation would be unpaid. Unable to implement that legally, the company switched to a different approach: employees who spent more than ten minutes in the bathroom would be issued formal warnings. This policy quickly escalated into an HR-approved disciplinary system. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Brigade™ Insignia. 3, 4 & 5 BHK Starting at ₹3.39 Cr* Brigade Group Learn More Undo Repeated 'violations' meant being 'coached into termination': a corporate euphemism for pushing someone out without direct firing. A complaint triggers a messy response The employee, recognising the potential legal and ethical violations, filed a complaint with OSHA, the federal body that monitors workplace health and safety. Soon after, HR posted a vague retraction, acting as though the policy had been misunderstood or misapplied. But the very next day, in a team meeting, a supervisor blamed the anonymous OSHA complaint, accused someone of 'lying,' and reintroduced the same policy under a new name. They openly admitted they were still seeking legal loopholes to dock pay for restroom use, highlighting just how committed the company was to controlling time, regardless of workers' well-being. One employee fights back, again Instead of being intimidated, the employee filed a second OSHA complaint, and this time, came prepared. Knowing their state allows single-party consent recording, they recorded the meeting where the policy and retaliation were discussed. Since the meeting was about workplace rules and discipline, it counted as a public discussion under company policy. The employee has stated they plan to publicly name the company and release all evidence once they complete their personal reason for staying in the job. Why labour laws matter more than ever This case may seem unusual, but it reveals deeper problems that HR students, business leaders, and professionals-in-training must understand: Human rights are not negotiable. Denying or punishing basic needs like restroom access creates a hostile and possibly unsafe work environment. Internal policies must still follow the law. HR departments cannot hide behind 'it's in the policy' if the rule contradicts labor standards or human dignity. Retaliation is a serious legal risk. Publicly blaming an employee for reporting to a labor authority can lead to fines or lawsuits. Knowledge is power. The employee in this case understood the law and used it — not to cause trouble, but to restore fairness. That's the kind of professionalism students should aim for. The bottom line As corporate environments become more performance-obsessed, cases like this are reminders of what happens when metrics override morality. For students pursuing careers in human resources, business management, or labour law, this is more than a viral post. It's a modern-day case study. Labour laws are not just about wages or safety gear. They're about respect, dignity, and the boundaries between policy and abuse. The next generation of professionals has a responsibility to know them, and to apply them wisely. TOI Education is on WhatsApp now. Follow us here . Ready to navigate global policies? Secure your overseas future. Get expert guidance now!
