Proton Mail faces ban in India after Karnataka HC order
Justice M. Nagaprasanna, who heard the case, directed the Centre to act under Section 69A of the IT Act, 2000, along with Rule 10 of the Information Technology (Procedure and Safeguards for Blocking Access of Information by Public) Rules, 2009, to block access to Proton Mail.'A mandamus is issued to Respondents 2, 4, and 5 (Central government authorities) to issue proceedings in terms of Section 69A of IT Act 2008 read with rule 10 of the Information Technology (Procedure and Safeguards for Blocking Access Of Information By Public) Rules, 2009 to block Proton Mail bearing in mind the observations made in the course of the order,' the court stated.Until the Centre completes the process of blocking Proton Mail, the High Court has also ordered that all offending URLs mentioned in the petition be blocked immediately.The petitioner's lawyer, Jatin Sehgal, claimed that Proton Mail has become a threat not just to individuals but to national safety. He also pointed out that in recent months, bomb threats sent through Proton Mail had caused concern in Indian schools. He said, 'It's not only I that have suffered, it's a national threat.'Responding to the plea, the Additional Solicitor General (ASG), Aravind Kamath, told the court that while the Centre can begin blocking action, any request for data from Switzerland must be routed through proper legal channels under the Mutual Legal Assistance Treaty (MLAT). He clarified that it is up to the investigating officer and the trial court to start that process.The court has reserved the full judgement, which will be released later.
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Economic Times
11 minutes ago
- Economic Times
Nifty just in pause mode, all-time high possible before Diwali: Rahul Ghose
Markets extended their losing streak for the third consecutive week, with investor sentiment remaining subdued due to a lackluster start to the earnings season and ongoing uncertainty surrounding the US-India trade to the previous week, the benchmark indices showed some strength during the initial three sessions. However, the mood shifted in the latter half, leading both the Nifty and Sensex to end near their weekly lows at 24,968.40 and 81,757.73, respectively. Analyst Rahul Ghose, Founder and CEO, Octanom Tech and interacted with ET Markets regarding the outlook on Nifty and Bank Nifty for the upcoming week. Following are the edited excerpts from his chat: How are you reading the markets right now? Right now, Indian markets are taking a much-needed breather. After a strong run earlier in the year, we've hit a consolidation phase—Nifty and Sensex have been under pressure for a few weeks in a row. There's definitely a sense of caution out there, partly because of mixed global signals and Q1 earnings being in focus. I'd say investors are taking stock and waiting to see which way the wind blows before making big moves. Make no mistake though, that the August month is going to see some big moves in the market in either direction. Are there any global factors that you see that can affect our markets?Definitely—global cues are a big part of the story at the moment. First, persistent FII outflows are weighing on sentiment; foreign investors are pulling back as US rates stay higher for longer, making developed markets a bit more attractive than emerging ones like India for we can't ignore geopolitical tensions and how they've pushed up crude oil prices. Since India is a big importer, that's an immediate worry for both inflation and the rupee. And then there's the recent wave of trade protectionism—we've seen new tariffs and measures from the US and EU, which isn't great news for Indian exporters. All in all, the external environment is a bit choppy. What's your take on the broader Nifty trend, with the index ending lower for the third straight week? The Nifty's certainly feeling the heat after its blistering rally earlier in the year. If you look at the charts, the index is at an inflection point: there's firm resistance at the 25,300 mark and support near the 24500-24800 band. For now, it looks like a consolidation phase, not a reversal. The long-term bullish story remains intact, and I would stick my neck out and say that before Diwali, we might see the Nifty move to all-time high levels; it's just the near term that can see volatile moves. Bank Nifty seemed stronger—how does it look now? Bank Nifty has been the surprising pocket of strength—it's held up better than broader indices so far and has been attracting buyers on dips. Right now, though, it's also showing signs of consolidation. Financial stocks are in a wait-and-watch mode with Q1 results coming in. I'd say Bank Nifty is still on a stronger footing, especially compared to sectors facing margin or demand pressures. Any specific strategies for Nifty and Bank Nifty traders? For Nifty, my advice would be to watch for confirmed breakouts or breakdowns and avoid getting caught in the chop. If we break above 25,255 decisively, there could be quick upside—but keep tight stop-losses at 25,000, as volatility remains Bank Nifty, buying on dips near 56,800–57,000 seems sensible, since the index is drawing buying interest at those levels. But be nimble; set clear exit points because sentiment can change quickly if results underwhelm. FIIs remain net sellers. What do you make of this, and how dependent is the market on FIIs now? Yes, FII outflows are back in focus—over Rs 90,000 crore has left Indian equities this year, and July alone saw a sharp exodus. This is really about global risk-reward equations changing, not anything fundamentally wrong with India. Higher US yields and stretched valuations here mean foreign money is seeking other said, India isn't as dependent on foreign flows as it once was. Domestic investors—both institutional and retail—are much more active and have been buyers on every dip. So, while FIIs can amplify short-term moves, domestic participation is giving our market a lot more resilience. Where did you see a long buildup? What do you recommend among those stocks? We're seeing long positions being built in names like Tata Consumer, Tata Steel, Hindalco, Trent, and M&M—sectors where earnings visibility is strong and thematic tailwinds exist. 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India.com
11 minutes ago
- India.com
Meet brothers who are buying famous luggage brand from Mukesh Ambani's relative, once sold their company to Ratan Tata, now planning to…, they are…
Famous Indian businessman Dilip Piramal is set to sell his company, VIP Industries, the famous luggage brand. It has been known for a while that he wanted to sell his business. But it was not clear who was going to buy it. However, that mystery has now been solved, as the names of the buyers have come to light. First, let's talk about the chairman, Dilip G Piramal. He is a Commerce graduate and an experienced industrialist who has pioneered the luggage industry in India. He has an experience of more than 50 years in the luggage industry. Established in 1968, VIP Industries Limited is amongst the World's leading manufacturers and retailers of luggage, backpacks, and handbags and an established leader in the organised luggage market in India. Dilip Piramal stated that his family's younger generation has no interest in running the business. This statement came soon after the company announced it would sell a 32% stake to a group of private equity investors and others, signaling a fundamental reorganization of the family-owned luggage company. While speaking to NDTV Profit, Piramal stated,' We are a family-owned business, and the next generation is not very keen on running it.' This group of buyers involves several private equity funds, as well as individual investors, including Mithun Padma Sacheti and Siddharth Sacheti. It is noteworthy that Mithun and Siddharth Sacheti are individual shareholders of VIP Industries. So, who are these Sacheti brothers? What do the new owners of VIP Industries precisely do? Mithun and Siddharth Sacheti are the sons and Padam Sacheti's sons of Jaipur Gems. Notably, Mithun Sacheti was the founder of the leading popular jewellery brand called CaratLane, which he subsequently sold to Titan, a Tata Group company. Mithun Sacheti started CaratLane in 2016, and after 8 years, the Tata Group acquired this jewellery business. Currently, Mithun Sacheti is an Independent Director at Metro Brands, and Siddharth Sacheti is running the family business, Jaipur Gems. They also have stakes in several other companies, including the well-known Nazara Technologies. So why Dilip Piramal is selling the company? Dilip Piramal, the founder of VIP Industries, is selling the company after 57 years largely because the next generation in his family is not interested in carrying on the business with him and also the company has been underperforming in the last five years. Dilip Piramal has two daughters, Radhika and Aparna, and he told me that neither one is interested in carrying on with the business.
Mint
11 minutes ago
- Mint
Replacement demand to drive tyre sector revenues by 7-8% this fiscal: Crisil
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