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British boxer Ricky Hatton has died at the age of 46, the BBC reported on Sunday. Former world champion Hatton won titles at light-welterweight and welterweight, before retiring in 2012. He had been due to make a comeback for an event in Dubai later this year. Greater Manchester Police said in a statement that a body had been found on Sunday morning at an address in Hyde in the northern English city. "The death is not being treated as suspicious," the police spokesperson said. Hatton had 45 wins in 48 bouts over his career but in the years after he retired he said he had tried to kill himself several times and had been open about his struggle with depression, drink and drugs. "I was coming off the rails with my drinking and that led to drugs. It was like a runaway train," he told BBC radio in 2016. Hatton's best performance came in 2005 when he stopped Australian Kostya Tszyu to add the IBF light-welterweight title to the WBU belt he already held. He had a perfect 43-0 record until he was floored by Floyd Mayweather Jr in Las Vegas in 2007 and was never the same again.

Warren Buffett has long warned that markets are not always rational, and one of his most enduring illustrations is a parable handed down from his mentor, Benjamin Graham: “Oil discovered in hell.”The story goes like this. An oil prospector arrives at the gates of heaven, only to be told by St. Peter that the section reserved for oil men is already full. The prospector asks to deliver just four words to those inside. Granted permission, he shouts, “Oil discovered in hell.” Instantly, every oil man rushes off, leaving heaven empty. When St. Peter offers the prospector a place, he declines, reasoning he might as well follow the others, after all, there may be truth in the rumour.A parable with teethBuffett, the chairman and CEO of Berkshire Hathaway, had invoked this story not as comic relief but as a sharp commentary on investor behavior. “If there was oil discovered in hell,” he once said, “all of the oil men would march there.”The lesson, Buffett explained, is that markets are often driven less by careful analysis than by crowd psychology. Fear of missing out, the belief that someone else knows better, and the pull of the herd can overwhelm reason. Even the prospector, who invented the rumour, ultimately succumbed to the same irrational lure.Crowd over calculationsFor Buffett, the tale underscores a truth about institutional investing. Despite armies of analysts and sophisticated models, large investors frequently “chase trends, follow the herd, or act on speculation rather than fundamentals.” He has often noted that stocks heavily owned by institutions are “frequently among the most inappropriately valued.”Buffett’s retelling of Graham’s parable serves as both warning and guidepost: even professionals with deep resources can abandon discipline when speculation appears more enticing.A timeless warningThe story resonates far beyond its humorous surface. Markets today, whether in energy, technology, or digital assets, often trade on narratives rather than numbers. Just as Graham’s oil men abandoned heaven for a rumour of riches, modern investors are lured by bubbles, booms, or untested innovations.For Buffett, the moral remains clear. Investing requires resisting the stampede and grounding decisions in intrinsic value and patience. “Oil discovered in hell” is not just a story. It is a reminder that markets can tempt even the most disciplined to leave heaven in pursuit of illusions.Also read | Ola Electric vs Ather Energy shares: Which EV bet looks stronger for your portfolio right now?(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)

The International Finance Corporation is set to pocket hefty returns from Tata Capital's upcoming USD 2 billion (Rs 17,000 crore) initial public offering, as the World Bank Group arm looks to trim its stake in the non-banking finance company.The International Finance Corporation (IFC) will offload 3.58 crore shares in the offering, exiting part of an early bet on Tata Capital's cleantech business made in 2011, according to the updated draft red herring prospectus (DRHP).Tata Capital is likely to launch its USD 2 billion initial public offering (IPO) in the first half of October after the Reserve Bank of India (RBI) granted an extension to list its shares on bourses, people familiar with the matter said.Earlier, the non-banking finance company was given time till September 30 to list on stock exchanges.IFC, the World Bank Group's private sector arm, partnered with Tata Capital in 2011 to set up Tata Cleantech Capital Ltd (TCCL), with the mandate to finance renewable and sustainable infrastructure projects. At the time, clean energy in India was still regarded as a subsidy-reliant sector.Over the past decade, TCCL has emerged as a key green financier, backing over 500 renewable projects across solar, wind, biomass, small hydro, water treatment, and electric mobility.Further, the company has sanctioned more than 22,400 MW of clean energy capacity and built one of the most comprehensive cleantech portfolios in the country. By FY25, the cleantech and infrastructure finance loan book had crossed Rs 18,000 crore, growing at a CAGR of nearly 32 per cent over the last two years, draft papers showed.Following a merger of TCCL with Tata Capital, IFC now holds 7.16 crore shares, or about 1.8 per cent in the parent NBFC. Of this, its plans to offload 3.58 crore shares in the upcoming IPO.IFC had entered at an adjusted price of around Rs 25 per share, valuing its overall investment at roughly Rs 179 crore. At the rights issue price of Rs 343 per share, this stake is worth nearly Rs 2,458 crore, translating into a notional profit of about Rs 2,278 crore. Delivering nearly 13 times, the investment in Tata Capital has been highly rewarding for IFC.The potential gains are based on the rights issue valuation. The IPO price is expected to be higher, which could further enhance IFC's returns, people familiar with the matter said.In July, Tata Capital raised Rs 1,752 crore through a rights issue priced at Rs 343 per share.The upcoming IPO will comprise a fresh issue of up to 21 crore shares and an offer for sale (OFS) of up to 26.58 crore shares, including 23 crore shares from promoter Tata Sons and 3.58 crore shares from IFC, as per the updated draft papers filed in August.Promoter Tata Sons owns 88.6 per cent of Tata Capital.Proceeds from the fresh issue will be deployed to augment Tier-I capital and fuel lending growth.If successful, the IPO will become the largest public issue in India's financial sector. It will also mark the Tata Group's second public listing in recent years, following the debut of Tata Technologies in November 2023.The IPO is being undertaken in line with the RBI's listing mandate for upper-layer NBFCs, which requires them to be listed within three years of classification. Tata Capital was designated as an upper-layer NBFC in September 2022.

Share buybacks may boost earnings per share and make companies look leaner, but for most Indian investors, they are a losing proposition, warns Deepak Shenoy, founder of Capital Mind. “For a taxable individual, buybacks are not useful to tender in India,” Shenoy wrote in a social media post on Saturday, breaking down how the tax rules stack the odds against shareholders.“The full amount of the buyback is taxed as dividend. Shares tendered in a buyback are assumed to be sold at zero rupees,” Shenoy said. For an investor who bought shares at Rs 1,000 and tenders them at Rs 2,000, the payout is taxed at the individual’s slab rate, which can be 35% or more.Meanwhile, the Rs 1,000 purchase cost is treated as a capital loss. “For capital gains, long-term taxes are 12.5%, and you can only offset long-term losses against long-term gains, so it’s only a 15% benefit (after surcharges on tax) on Rs 1,000 = Rs 150 saved in taxes,” Shenoy said.By his calculation, a tender into such a buyback leaves an investor with Rs 1,450 net of taxes. Selling the same shares in the market at Rs 1,700, by contrast, would yield Rs 1,595 after tax.Optional, but still unattractiveBuybacks are not mandatory in India. “There’s a tender window (which can come months later), and if you don’t tender, you just don’t get your shares bought back,” Shenoy wrote. For investors who need liquidity, he argued, selling into the market usually delivers a better after-tax outcome.Why companies still prefer themShenoy pointed out that the rules were not always this harsh. “Buyback tax rules have become onerous, as you’ve seen. It used to be that buybacks were not taxed in your name – the companies just paid a flat 20% tax. This changed to the new system in 2024.”Even so, he said, “Buybacks are great for companies though.” Unlike dividends, which are also fully taxed, buybacks shrink the share base, making future earnings per share look stronger. “So it’s better for a company to do buybacks than to give dividends.”Who wins in this system?Not everyone loses. “Investors in lower tax slabs and some Indian institutions that don’t pay tax, like insurance companies, pension funds, EPFO and mutual funds,” stand to gain from buybacks, Shenoy said.His advice for retail investors was blunt: “Calculate the real post-tax return on your investment before you decide to tender shares in a buyback. It’s usually better off just to sell as many shares in the market instead, unless you are in a low tax bracket.”Also read | Explained: What is China's anti-involution shift and how it impacts Indian stocks(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)

The death toll from last week's anti-corruption protests in Nepal has risen to 72, the country's health ministry said on Sunday, as search teams continued to recover bodies from shopping malls and other buildings damaged in the unrest. "Bodies of many people who died in shopping malls, houses and other buildings that were set on fire or attacked are now being discovered," health ministry spokesperson Prakash Budathoki said. The ministry's latest updated data showed at least 2,113 people were injured in Nepal's worst unrest in decades. Many government buildings, the country's supreme court, parliament building, police posts, businesses as well as politicians' private houses including that of President Ramchandra Paudel and Prime Minister K.P. Sharma Oli were set on fire. Oli, who resigned last week, has been replaced by former Chief Justice Sushila Karki as the interim prime minister tasked with holding new parliamentary elections which has been called for March 5.

The Indian market ended in the green on Friday, with the Nifty 50 rising for an eighth consecutive session, as softer U.S. labour market data helped temper concerns from a stronger-than-expected inflation reading, bolstering expectations that the Federal Reserve could begin cutting interest rates. Investor sentiment was also supported by signs of progress towards a potential revival of U.S.-India trade ties.The S&P BSE Sensex closed 356 points, or 0.44% higher at 81,904.70, while the NSE Nifty 50 added 109 points, or 0.43%, to finish at 25,114.Here's how analysts read the market pulse:The national market closed higher, supported by renewed global optimism over a potential Fed rate cut, said Vinod Nair, Head of Research at Geojit Investments, adding that sentiments improved further on reports that the EU may reject U.S. tariff proposals on India for buying Russian oil."Progress in U.S.-India trade talks is also expected to keep the positive momentum intact in the near term. The defence sector outperformed, aided by the Indian procurement authorities beginning negotiations for six next-generation conventional submarines," said Nair.Also read | 5 Wall Street moguls who dismissed Bitcoin as a fad — Guess what they’re saying now!US marketsThe Nasdaq closed at a record high on Friday, buoyed by gains in Microsoft, even as broader markets finished mixed. Investors are now turning their attention to next week’s Federal Reserve policy meeting, where officials are widely expected to cut interest rates to address a weakening labor market.The S&P 500 slipped 0.05% to 6,584.29, while the Dow Jones Industrial Average fell 0.59% to 45,834.22. The Nasdaq rose 0.45% to 22,141.10.European MarketsEuropean stocks slipped on Friday, with investors treading carefully ahead of Fitch’s credit rating review of France, even as the region’s benchmark notched its first weekly gain in three weeks.The STOXX 600 edged down 0.11% to 554.74, weighed by a more than 1% slide in healthcare shares. Novartis dropped 2.8% after Goldman Sachs cut its rating, citing intensifying competition from generics. Zealand Pharma declined 4.1% in tandem.For the week, however, the STOXX 600 rose about 1%, supported by a global equity rebound driven by expectations of multiple U.S. rate cuts. Traders have fully priced in a Federal Reserve cut next week, according to CME Group’s FedWatch tool.Tech ViewThe Nifty managed to stay in the green as put writers provided support around the 25,000 mark, said Rupak De, Senior Technical Analyst at LKP Securities, adding that the index appears to be consolidating its recent gains, gradually forming a base.“As long as it sustains above 24,850, the undertone remains constructive. A decisive move beyond 25,150 may set the stage for a rally towards 25,500 in the near term," said De.Also read | Warren Buffett’s biggest investment isn’t Apple, BofA or Coca-Cola — it’s a stock hidden in plain sightMost active stocks in terms of turnoverJBM Auto (Rs 3,024 crore), Waaree Energies (Rs 2,462 crore), Gujarat Mineral Development (Rs 2,037 crore), Infosys (Rs 1,967 crore), HDFC Bank (Rs 1,388 crore), Hindustan Copper (Rs 1,362 crore) and HAL (Rs 1,322 crore) were among the most active stocks on BSE in value terms. Higher activity in a counter in value terms can help identify the counters with highest trading turnovers in the day.Most active stocks in volume termsVodafone Idea (Traded shares: 113.20 crore), GMR Airports (Traded shares: 8.11 crore), YES Bank (Traded shares: 7.07 crore), Hindustan Copper (Traded shares: 5.02 crore), Motherson Sumi (Traded shares: 4.63 crore), JBM Auto (Traded shares: 4.32 crore) and HFCL (Traded shares: 4.31 crore) were among the most actively traded stocks in volume terms on NSE.Stocks showing buying interestShares of JBM Auto, Hindustan Copper, Gujarat Mineral Development, GRSE, BEML, Gujarat Pipavav and Bharat Dynamics were among the stocks that witnessed strong buying interest from market participants.Also read | Explained: What is China's anti-involution shift and how it impacts Indian stocks52 Week highOver 135 stocks hit their 52 week highs today while 53 stocks slipped to their 52-week lows. Among the ones which hit their 52 week highs included Bajaj Finance and Aditya Birla Capital.Stocks seeing selling pressureStocks which witnessed significant selling pressure were Netweb Technologies, RattanIndia Enterprises, GSK Pharma, Metropolis Healthcare, Waaree Energies, Jindal Stainless and Sumitomo Chemical.Sentiment meter neutralThe market sentiments were neutral. Out of the 4,289 stocks that traded on the BSE on Friday, 2,170 stocks witnessed declines, 1,974 saw advances, while 145 stocks remained unchanged.Also read | At $88.5 billion, Larry Ellison made more money in 1 day than Gautam Adani's net worth(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)