BACK PAGE | PAGE 22 Samsungupsfoldablegame asApplebracesforentry ECONOMY | PAGE 3 INTERNATIONAL | PAGE 9 Fourfold surge in people withover`100-crincome CHENNAI/KOCHI, TUESDAY, JULY 28, 2026 China’s CXMTsoars 466% in debut after record IPO FOLLOW US ON TWITTER & FACEBOOK. APP AVAILABLE ON APP STORE & PLAYSTORE WWW.FINANCIALEXPRESS.COM READ TO LEAD VOL NO. XLVII 70, 22 PAGES, `12 P U B L I S H E D F R O M : A H M E D A B A D , B E N G A L U R U , C H A N D I G A R H , C H E N N A I , H Y D E R A B A D , K O C H I , K O L K ATA , L U C K N O W, M U M B A I , N E W D E L H I , P U N E SENSEX: 76,835.78 ▲ 776.01 NIFTY: 23,995.95 ▲ 228.50 NIKKEI 225: 64,931.19 ▲ 320.04 HANG SENG: 25,207.18 ▲ 243.95 `/$: 95.90 ▲ 0.67 `/€: 109.28 ▲ 0.69 BRENT: $90.70 ▼ $6.08 GOLD: `1,43,829 ▲ `591 IN THE NEWS COMPANIES PAGE 5 ZEPTO HALVES IPO VALUATION AMID PUSHBACK ZEPTO HAS BEGUN discussions with investors to launch its initial public offering (IPO) at a post-money valuation of about $3 billion (`29,000 crore) — less than half the roughly $7 billion (`60,000 crore) valuation it commanded just nine months ago — reports Anees Hussain. » INSIDE « THE CHANGING CONTOURS OF INDIA-USTIES,WRITES ANITAINDER SINGH PAGE 8 GEN Z IS COMING FORTHE INCUMBENTS,WRITES KARANTAURANI PAGE 8 Kharif sowing gap narrows, easing inflation worries WITH A 'NORMAL' rainfall in July after a hugely deficient June, the sowing of kharif crops — paddy, pulses, oilseeds, cotton and sugarcane — across the country has got a huge boost, especially in the past fortnight, reports Sandip Das. This has somewhat allayed fears of a major flareup in food prices. ■ PAGE 2 BOARDBACKSHIM,BUTLEGALTANGLECLOUDSOUTCOME Tata SonsAGM to take up Chandra reappointment URVI MALVANIA Mumbai, July 27 THE REAPPOINTMENT OF Tata Sons Executive Chairman N Chandrasekaran as a directorwill be among the key items on the agenda for the Tata Group holding company’s annual general meeting (AGM) on August 18. In its AGM notice issued on Monday,Tata Sons said its board believed that Chandrasekaran’s “skills, experience and knowledge” and his continued association would “immensely benefit the company”. The board has accordingly recommended his reappointment. Chandrasekaran is due to retire by rotation at the AGM and,being eligible,has offered himselfforreappointmentasa director. His current term as executive chairman of Tata SonsrunsuntilFebruary2027. Chandrasekaran’s continuation as a director would normally have been a procedural matter.This time, however, the vote comes against the backdrop of a regulatory dispute over the composition and functioning of the Sir Ratan Tata Trust (SRTT). Continued on Page 7 PAUSE INWAR POWERS RELIEFRALLY THE US AND IRAN extended a pause in strikes to a third consecutive day on Monday, sending oil prices sliding and stock markets soaring, reports Kishor Kadam. The pause followed two weeks of renewed attacks. US President Donald Trump said he is giving diplomacy “some space” and that talks between the two sides are ongoing. ■ REPORTS ON PAGES 6 & 9 Executive Chairman of Tata Sons N Chandrasekaran Trusts secure 3rd extension in hearing of Mistrycomplaints TATA TRUSTS ON Monday sought and secured six more weekstofilerejoinderstoobjections raised by former trustee Mehli Mistry before the Maharashtra charity commissioner over governance lapses, marking the third time they have sought additional time in the ongoing proceedings, reports Urvi Malvania. Matters concerningtheSirRatanTataTrust, SirDorabjiTataTrustandtheBai Hirabai Jamsetji Tata Navsari Charitable Institution came up forhearingonMonday.Allthree matters have now been posted forSeptember8. ■ PAGE 4 ($ per barrel) July 24 (close) July 27 (7pm IST) 96.78 90.92 Rupee Asia’s best Markets snap losing on record gains streak of 5 sessions Rupee TataSonsPAT rises,dividend incomeslides TATA SONS ON Monday reported a 21.8% rise in profit after tax (PAT) for FY26,aidedlargelybyonetimegainsfromthesaleof investments and securities, even as losses at its long-gestationbusinesses suchasAirIndia,TataElectronics and Tata Digital continued to weigh on earnings, reports Urvi Malvania. However, its dividendincomefell10% year-on-year to `32,528.36crore.■PAGE4 Brent tanks around 6% 0.70 Thai Baht 0.33 % change on July 27 76,835 Philippine Peso 76,059 0.28 July 24 (close) Taiwanese Dollar 0.26 Malaysian Ringgit 0.17 A billboard on a building in Iran’s capital on Monday REUTERS India VIX Pre. close: Close (July 27) 14.03 BoB orders forensic probe aftermassive data breach MANJU AB Mumbai, July 27 STATE-RUN BANK OF Baroda (BoB) has suffered a major cyberattack in which nearly 1 terabyte (TB) of customer and corporate data was allegedly leaked on the dark web. Cybersecurity experts said the leaked data includes customer application forms,Aadhaar details, loan records, branch documents, internal auditfiles,andcorporateITdata. The bank on Monday said the breach originated from an Nearly 1 TB of data stolen Nearly 1 TB of data, including customer application forms, Aadhaar details, loan records and internal audit files, has been leaked on the dark web, cybersecurity experts say employee’s email account, whichresultedinunauthorised access to certain data.However, it clarified that its core banking systemswerenotcompromised and remain secure.“A comprehensive forensic investigation hasbeeninitiated,andthebank is working with the relevant authorities in accordance with applicable regulatory requirements,” it said in a post onX. Continued on Page 7 CHENNAI/KOCHI 12.66 July 27 (close) 1.02% 9.76% HDFC Bank board fines CEO, others THE HDFC BANK board has issued warning letters to MD and CEO Sashidhar Jagdishan and two others, and imposed a fine of `1 lakh on each of them in connection with the Maharashtra State Road Development Corporation(MSRDC)depositarrangements, reports Kshipra Petkar. The board concluded that their conduct amounted to “business overreach” rather than any mala fide action or personal enrichment. ■ PAGE 6