Business
Nifty Earnings Expected To Grow 16% In FY27: Report
New Delhi: The average earnings from Nifty 50 companies are expected to grow 8 per cent in FY26 and 16 per cent in FY27, driven by policy measures, macro resilience, and a maturing domestic investor base, a report said on Thursday. As India’s markets enter Samvat 2082, the Motilal Oswal Financial Services Ltd (MOFSL) report said that it is positive on BFSI, capital markets, consumption, manufacturing, and digital sectors.
The broking firm noted policy measures that increased liquidity and demand, such as a 100-basis-point repo cut, a 150-basis-point CRR reduction, Rs 1 lakh crore in income tax relief, GST 2.0 reforms, and reduced inflation, have improved consumer sentiment.
“We believe this marks the beginning of a turnaround in India’s domestic growth momentum, with a significant pickup in consumption paving the way for a robust revival in the private capex cycle. This, along with the improving earnings trajectory, should lend support to Indian equities,” the report said.
Motilal Oswal said that these tailwinds support a forecast for a shift from single-digit earnings growth to sustainable double-digit growth in the second half of FY26. “The underlying fundamentals have strengthened – supported by a 7.8 per cent GDP growth in Q1FY26, easing inflation at 1.5 per cent in September 2025 compared to 5.5 per cent in September 2024, and a supportive policy environment that continues to boost investor confidence,” it said.
Valuations are reasonable and close to long-term averages at approximately 20 times FY26 earnings. Mid and small caps are trading at a slight premium, indicating a need for selective stock picking, the brokerage said. Financials are set for earnings recovery in H2FY26, aided by lower borrowing costs, improving NIMs, and steady deposits, the brokerage firm said. Capex revival and policy reforms should drive multiyear growth for the manufacturing sector, positioning India as a key global manufacturing hub, the report noted.
BBCA couple of years ago, London banker Varun Yadav downloaded several dating apps, hoping to meet his life partner.
On Indian matrimonial site Jeevansathi, meaning “life partner” in Hindi, he started talking to a woman who said her name was Rekha Shah.
After months of talking on WhatsApp and video calls, she asked him if he would invest in crypto trading with her – a decision which caused him to lose his life savings and left him feeling suicidal.
“You see all the signs, but you are so emotionally attached. You are willing to lose the money, but you are not willing to lose the connection,” he told BBC Radio London.
Varun was a victim of romance fraud, a growing crime that saw an estimated £106m lost by victims in the UK past financial year, according to Action Fraud.
Victims in London account for just under £14m of that total, with 1,276 reports of romance fraud in the capital.
The average victim lost £11,222, but Varun lost far more, totalling around £40,000.
This comes as the Financial Conduct Authority (FCA) said banks are missing opportunities to help “break the spell” of romance scams.
They said some banks had gone to significant lengths to protect customers against romance fraud, but advised further measures, such as better detection and monitoring systems, identifying vulnerability early on, and compassionate aftercare.
The FCA also said firms need to train staff to spot red flags and critically probe customer explanations.
PA MediaVarun was initially cautious when asked to invest in cryptocurrency using a platform called Deuncoin, but was initially able to gain and withdraw money.
He was not aware of anything wrong until he made a big loss and the woman asked him to put in all his savings to recover the losses.
He then found he was unable to withdraw the funds, and realised “it was all one big scam”.
‘Fear and shame’
He said he thought his life was over after becoming a victim of romance fraud.
“I thought, I’ve lost everything. I’ve lost the person I thought was going to be my life partner, I’ve lost all my life savings.”
When he initially lost the money he knew it was a red flag, but said he “ignored the signs because of the fear and the shame”.
Now 41, Varun hopes sharing his story will help ensure others do not have to face what he went through alone.
“When I shared my story with my friends, a lot of them said they’d been part of a similar scam, but were too ashamed to say it.
“This is a trauma that will stay with me for life, but I’ve learnt coping mechanisms and rebuilt my life. There is hope.”
![Getty Images A text message being sent on a phone, reading 'I love [heart emoji] you. can you send me some money [heart emoji]'.](https://ichef.bbci.co.uk/news/480/cpsprodpb/8c60/live/691d6cf0-aa7f-11f0-aa13-0b0479f6f42a.png.webp)
Getty ImagesWhat is romance fraud?
Romance fraud involves fraudsters creating fake online personas to gain someone’s trust and affection through the guise of a romantic relationship, and ultimately exploiting them for money.
They manipulate, persuade and exploit victims, often encouraging them to isolate themselves socially and requiring urgency and secrecy from the victim.
Action Fraud’s key tips for protecting yourself against romance fraud include:
- Never send money, vouchers or cryptocurrency to someone you’ve met online
- Treat people as you would if meeting in person, by asking questions and taking your time.
- Be cautious about how much information you share, and keep your social media accounts private and secure.
- Talk to friends and family.
- If you think you have been a victim of romance fraud, contact your bank immediately and report to Action Fraud.
- A list of organisations in the UK offering support and information with some of the issues in this story is available at BBC Action Line.
Earlier this month, the Metropolitan Police launched a campaign to help prevent people like Varun from getting scammed.
This includes videos giving real-life accounts from victims, showing what romance fraud looks like, how to prevent it, and where to get further support if needed.
They have also undertaken intelligence sharing to trace suspects overseas, and collaborated with banks, dating apps and social media sites to identify fraud.
Det Supt Kerry Wood, head of economic crime for the Met Police, said: “Romance fraud is one of the most devastating types of fraud we deal with.
“It doesn’t just lead to people losing thousands of pounds – it’s also an abuse of trust which has a devastating impact on people’s confidence and sense of self-worth.
“Awareness is the most powerful defence against fraud. By talking openly, we can protect ourselves, our loved ones, and our communities from this deeply personal and damaging crime and bring those responsible to justice.”
Meanwhile, Varun was not able to recover the money he lost, but said “I’ve made my peace with it” and has rebuilt his life since.
He is encouraging anyone going through romance fraud to “reach out to family, friends and colleagues”, adding, “whatever is happening, do not isolate yourself”.
Additional reporting from PA Media
New Delhi: In an conversation with CNBC-TV18, Employees’ Provident Fund Organisation (EPFO) Chief Ramesh Krishnamurthi defended the new rule that mandates members to keep 25 percent of their provident fund (PF) balance locked, even when they withdraw the rest. He said the move is aimed at ensuring long-term financial and retirement security for workers.
According to Krishnamurthi, many employees tend to withdraw their full savings after leaving a job, leaving little for retirement. The new rule allows them to withdraw up to 75 percent of their savings, while the remaining 25 percent stays invested as a safety net for the future. This balance continues to earn interest at 8.25 percent per year under current EPFO rules.
He pointed out that frequent withdrawals harm financial stability. EPFO data shows that around 75 percent of members exit the scheme within three years, and many end up with a final balance of less than Rs 20,000 when closing their accounts. The new policy aims to change this trend by helping workers build a meaningful retirement corpus.
The EPFO has also increased the waiting period for full withdrawal from two months to 12 months after leaving employment. While some critics say this causes hardship, Krishnamurthi explained that the change helps members stay eligible for pension and insurance benefits linked to long-term membership.
However, in special situations, employees can still withdraw 100 percent of their savings up to twice a year without providing a reason. If a person remains unemployed for more than 12 months, even the locked 25 percent can be withdrawn.
Business
Gold rates hit record highs! Prices hit $4,379.93 per ounce; US credit worries, China tensions fuel safe-haven rush – The Times of India
Gold soared to record levels as renewed concerns over US credit quality and escalating US-China tensions drove investors toward safe-haven assets.Gold surged 1.2 per cent to $4,379.93 per ounce on Friday, heading for its biggest weekly gain since 2008 and extending a rally that began in August. The surge was underpinned by expectations of steep Federal Reserve rate cuts later this year, which also lifted other precious metals.Meanwhile, Silver also breached its 1980 record on a discontinued Chicago Board of Trade contract, touching $54.38 an ounce before stabilising, as reported by Bloomberg. Palladium and platinum also posted substantial weekly advances.Gold has jumped more than 65 per cent this year, buoyed by central bank buying, ETF inflows, and geopolitical uncertainty. Silver has risen nearly 90 per cent, driven by similar factors and a major supply squeeze in London that pushed benchmark prices above New York futures.More than 15 million ounces of silver were withdrawn from Comex-linked warehouses in recent days, reportedly to ease tightness in London. The price gap between the two markets has narrowed to 70 cents per ounce from $3 earlier.As of 7:57 a.m. in Singapore, spot gold was up 1 per cent at $4,369.14 per ounce, bringing its weekly gain to 8.7 per cent. Platinum rose 8 per cent this week, and palladium surged 16 per cent.Market sentiment turned volatile on Thursday after two US regional banks disclosed loan irregularities involving fraud allegations, sparking fresh concerns about borrower stability. The developments, alongside heightened US-China trade tensions and limited economic data amid the Washington shutdown, fuelled safe-haven demand.Investors are increasingly pricing in aggressive rate reductions by year-end, while Fed Chair Jerome Powell has signalled another quarter-point cut this month — a backdrop favouring non-yielding assets like gold and silver.Additionally, china’s Commerce Minister Wang Wentao blamed Washington for recent diplomatic strains, warning against economic decoupling. His remarks followed US Treasury Secretary Scott Bessent’s criticism of a Chinese trade official’s surprise Washington visit as “unhinged”.
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