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Vol. I · No. 5Tuesday, 29 September 2026 · Evening editionPrinted 5:00 PM IST

Frosty’s Ledger

All the news that’s free to read

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Companies & Deals

Tata Trusts proposes restructuring to keep Tata Sons private, avoid listing

Tata Trusts wants to merge two operating businesses into Tata Sons, arguing that the combined revenue and assets would take it outside the NBFC and CIC framework and allow it to remain unlisted…

BS·Mint·BusinessLine·Reuters·The Hindu·Fin. Express·+17 papers

The Week Ahead

Times in IST
  1. Fri2OctMarkets closedNSE & BSE shut for Gandhi JayantiIN
  2. Fri2OctUS jobs reportSeptember payrolls · 6:00 PM ISTUS
  3. Wed7OctRBI policy decisionRate call after the 5–7 Oct MPC meeting · 10 AM ISTIN

The CFA & CA Lens

Today’s news, exam-style

CFA Level I

Equity Investments

IPOs & the grey market

In the newsTata Trusts proposes restructuring to keep Tata Sons private, avoid listing

An IPO is a company's first sale of shares to the public. The grey-market premium is an unofficial pre-listing price signal, not a promise of listing gains.

Exam anglePrimary market: the company raises new capital. Secondary market: investors trade existing shares and the company receives nothing.

Corporate Issuers

Capex & project returns

In the newsTrump announces Essar Group’s $15-billion steel plant project in Iowa

Capital expenditure is money spent on long-lived assets like plants or data centres. It creates value only if its returns beat the cost of the money used.

Exam angleAccept projects with NPV > 0, which for conventional cash flows means IRR > the cost of capital (WACC).

CA · ICAI

CA Final · Financial Reporting

Share issue costs in an IPO

In the newsAnthropic warns AI may pose 'existential risks to humanity' in IPO filing

An IPO's costs — bankers, lawyers, listing fees — don't all hit the profit and loss account.

Exam angleInd AS 32: costs of issuing new shares are deducted from equity; costs of listing existing shares are expensed. Shared costs are split between the two.

CA Inter · Corporate & Other Laws

Dividends & buybacks under the Act

In the newsNvidia share buyback plan gets $150 billion boost

Company law limits how much cash a company can hand back, to protect its creditors.

Exam angleDividends only out of profits (Section 123). Buybacks capped at 25% of paid-up capital and free reserves, with debt no more than twice capital and free reserves afterwards (Section 68).

CA Inter · Financial Management

Capital budgeting

In the newsUAE intends to invest $25 billion more in India, says Goyal

A new plant or data centre is only worth building if the cash it throws off, discounted at the cost of capital, beats what it costs.

Exam angleAccept if NPV > 0. Payback period is simple but ignores the time value of money and cash flows after payback.

Markets

17 stories

Sensex today | Stock Market Highlights: Sensex tanks 1,124 points, Nifty ends below 22,800

Sensex, Nifty, Share Prices Highlights: Indian equities suffered a sharp sell-off on Monday as rising crude oil prices, geopolitical uncertainty, foreign fund outflows and weak global cues pushed the Sensex and Nifty to near six-month lows.

BusinessLine·NDTV Profit

Economy & Policy

17 stories

Trade agreement can contribute to 'better' India-US ties, says Jaishankar

A trade agreement between India and the US, if concluded, would contribute to "better" bilateral ties, External Affairs Minister S Jaishankar said, noting that expectations of rapid progress in negotiations had been "tested" against a much more complex ground reality.

BS·Mint

El Nino threatens rabi crops in rainfed areas, may affect foodgrain output: Agri Secy

The rabi season in India is expected to encounter difficulties due to the El Nino weather pattern. Agriculture Secretary Atish Chandra highlighted the challenges faced during the kharif season in rainfed regions.

ET·BusinessLine

Piyush Goyal set to embark on 7-day US visit from September 29: G20 meet, trade talks with America on agenda

Commerce and Industry Minister Piyush Goyal begins a week-long US visit on September 29. His discussions aim to strengthen India-US trade ties amid ongoing talks on the Bilateral Trade Agreement.

Mint·ET

Companies & Deals

17 stories

World

15 stories

US import ban on Canadian alcohol, other products comes into effect

A new US import ban on various Canadian products including alcohol has recently taken effect. This ban follows months of escalating trade tensions between the US and Canada. According to Spirits Canada, the impact of this ban on the alcohol sector could be significant.

ET·BS·BBC3 papers

UK police release five men arrested over US airbase incident on bail, Trump slams move, says 'I wouldn't have done that'

After British Police on Monday released five men on bail in connection with the US airbase incident, US President Donald Trump slammed the decision, stating that he would not have done it.

Mint·Reuters

Cornell University Rape Case: Diego Sarabia, one of 7 accused of ‘gang rape’ working at Wells Fargo bank, fired from job as case reopens

The sexual assault case involving seven Cornell University students is once again under the spotlight. Major developments include the job loss of accused Diego Sarabia at Wells Fargo.

ET·BBC

Technology

11 stories

HCLTech's arm to acquire Croatia-based Robotiq.ai for 9 million euro

IT services major HCL Technologies on Monday announced that its software business division, HCLSoftware, will acquire Croatia-based enterprise robotic process automation (RPA) platform provider Robotiq.ai in an all-cash deal valued at an enterprise value of 9 million…

BS·ET

Opinion

2 stories

Subscriber Desk

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