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Kitchen appliance company TTK Prestige on Friday announced the passing of its Chairman Emeritus, T T Jagannathan, a key member of the promoter group, who died on October 9, 2025.In its exchange filing, the company said, “We regret to inform you that the Company was intimated today about the sudden demise of Mr. T T Jagannathan - Chairman Emeritus, belonging to the Promoter and Promoter Group of the Company, on October 09, 2025.”Describing the development as a significant loss, the company added, “His sudden and unexpected passing away will be an irreparable loss to the Company and all the Directors and employees of the Company convey deep sorrow and condolences to his family.”According to the disclosure, Jagannathan held 42,41,868 equity shares in his personal capacity, representing 3.10% of TTK Prestige’s total shareholding. In addition, he was a partner with a 3% share in M/s T T Krishnamachari & Co., which holds 8,27,67,238 equity shares, accounting for 60.44% of the company.Following his demise, TTK Prestige said that he would “cease to be a part of the Promoter and Promoter Group of the company in accordance with Regulation 31A (6)(c) of the SEBI LODR Regulations, 2015.” The company added that the transmission of his shareholding to his nominees “shall be processed” and that “shareholding will be shown in his name till the conclusion of transmission.”T T Jagannathan, a veteran industrialist, played a pivotal role in shaping TTK Prestige into one of India’s leading kitchen and home appliance brands. His leadership spanned several decades, during which the company expanded its product portfolio and strengthened its presence across domestic and international markets.

Shares of Reliance Power gained as much as 15% to their day’s high of Rs 50.75 on the NSE on Friday, October 10, amid renewed buying interest and strong volumes. Data showed that around 7 crore equity shares of the company changed hands, compared to its one-week and one-month average trading volumes of 2 crore shares each.Last week, the company received Show Cause Notices from the Securities and Exchange Board of India (SEBI) related to matters concerning CLE Private Limited. The issue stems from past exposures and disclosures regarding CLE. The company denied any ongoing financial ties, though regulatory scrutiny has drawn market attention, especially as the notices came months after settlements and clarifications were already recorded.Q1 Performance SnapshotAnil Ambani-led Reliance Power reported a consolidated net profit of Rs 44.68 crore for Q1 FY26, a turnaround from a loss of Rs 97.85 crore in the same quarter last year.Revenue from operations fell 5.3% year-on-year to Rs 1,885.58 crore, down from Rs 1,992.23 crore in Q1 FY25, and declined 4.7% sequentially from Rs 1,978.01 crore in Q4 FY25. Total income in Q1 FY26 stood at Rs 2,025 crore, reflecting a 2% decline from Rs 2,069 crore a year earlier.Despite the year-on-year profit recovery, net profit fell 64% quarter-on-quarter, compared with Rs 125.57 crore in the March quarter.Also read: Is the AI boom becoming a bubble? Why Goldman, JPMorgan, IMF are sounding the alarmReliance Power shares have gained over 3% in one month but declined more than 25% in three months. The smallcap stock has risen 21% in six months and 8% so far this year. Over two years, the stock has delivered multibagger returns of 171% and an impressive 1,657% in five years.At about 10:40 am, shares of the company were trading at Rs 48.33, higher by 8.73% from the last close on the NSE.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

India's Bharti Telecom, the holding company of Bharti Airtel, will launch the largest bond sale of the current fiscal year next week, aiming to raise funds at significantly lower rates than last year, according to three merchant bankers. The company is looking to raise 150 billion rupees ($1.7 billion) through the sale of bonds maturing in two years and in three years and two months. It will pay an annual coupon of 7.35% and 7.45% on these issues, respectively, the bankers added. Mutual funds are likely to be big buyers of the bonds, said one of the bankers, adding that there was interest from some foreign banks and private banks as well. The bankers requested anonymity as they are not authorised to speak to media. The company did not reply to a Reuters email sent on Thursday seeking a response. This would be the cheapest bond fundraising for the company in four years. A 100 basis-point cut in the Reserve Bank of India's policy rate in 2025, and an upgrade of the company's existing bonds to the highest-grade rating of AAA by CRISIL Ratings has helped bring down costs for the company. If successful, it would be the biggest bond issue of this year. In November 2024, it had raised 111.50 billion rupees through the sale of bonds. "While majority of the funding will go for refinancing, the company will use a sufficient chunk for capex," the banker said. The firm has debt securities worth 97.50 billion rupees that are due to mature in November-December. It also has bonds worth 161.50 billion rupees that will mature between 2027-2034. ($1 = 88.8100 Indian rupees)

India's general government debt is expected to moderate steadily over the next decade, declining from the current 81 per cent of GDP to about 77 per cent by FY31 and further to 71 per cent by FY35, according to a report released by CareEdge Ratings.The report highlighted that amid the global landscape of rising government debt, India is projected to follow a path of fiscal consolidation, supported by sustained GDP growth and prudent fiscal management by the Centre."Amid the global landscape of rising government debt, we project India's general government debt to moderate from the currently estimated 81 per cent of GDP to about 77 per cent by FY31 and further to 71 per cent by FY35," the report said.It further noted that the Centre's fiscal consolidation efforts and the sustenance of GDP growth momentum at around 6.5 per cent are expected to support the country's medium-term debt consolidation.The continuous focus on economic expansion and revenue generation, along with improved fiscal discipline, is seen as a key factor driving the expected decline in debt levels.However, the report also cautioned that the aggregate state debt continues to remain high and poses a risk to overall fiscal health."The sticky aggregate state debt amid the distribution of freebies by some states remains a monitorable going forward," it added.The report emphasised that while India's overall government debt is projected to moderate, elevated interest payments as a percentage of revenue receipts are expected to remain a challenge for fiscal management.On a broader regional perspective, the report also observed that the future debt trajectory for economies across the Asia-Pacific (APAC) region is likely to be divergent.The report mentioned that easing inflation across the APAC region is expected to provide flexibility on the monetary policy front."With inflation moderating and policy rates retreating from their peaks, most APAC economies have greater monetary policy space to manage uncertainties," it stated.Overall, the report noted that India's prudent fiscal approach and steady economic growth provide a favourable outlook for debt consolidation, though careful monitoring of state-level fiscal trends and interest payment obligations remains crucial.

Gold edged higher on Friday and headed for its eighth straight weekly gain, as lingering geopolitical and economic uncertainty alongside expectations for interest rate cuts from the U.S. Federal Reserve boosted demand for bullion. FUNDAMENTALS * Spot gold was up 0.1% to $3,977.87 per ounce as of 0120 GMT. Bullion is up 2.3% so far this week. * U.S. gold futures for December delivery gained 0.5% to $3,992.40. * New York Fed President John Williams signaled on Thursday he would be comfortable with cutting rates again, despite some policymakers' qualms about rising inflation that suggest such a decision won't be easily made. * Traders currently price in a 25-basis-point cut in October and another in December, with a 95% and 82% chance, respectively, according to CME FedWatch Tool. * Markets this week have grappled with political turmoil in Japan and France alongside an ongoing U.S. government shutdown, all of which have done little to stoke confidence in investors, who have sought safety in gold.* The number of Americans filing new applications for unemployment benefits increased again last week, economists estimated on Thursday, hinting at some early layoffs of contractors related to the U.S. government shutdown. * Bullion surged past $4,000 per ounce for the first time on Wednesday, reaching a record high of $4,059.05. The non-yielding asset, traditionally considered a hedge during geopolitical and economic uncertainty, has gained about 52% this year. * SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.11% to 1,013.44 metric tons on Thursday from 1,014.58 tons on Wednesday. * Kotak Mahindra Asset Management Company (KMAMC) has temporarily suspended fresh lump-sum and switch-in investments into the Kotak Silver ETF Fund of Fund, effective October 10, 2025, the company said in a statement on Thursday. * Elsewhere, spot silver climbed 1.2% to $49.70 per ounce, after hitting an all-time high of $51.22 on Thursday. Platinum rose 0.4% to $1,625.30 and palladium gained 1% to $1,426. DATA/EVENTS (GMT) 0300 China Overall Comprehensive Risk Q4 0300 Japan Overall Comprehensive Risk Q4 1400 US U Mich Sentiment Prelim Oct.