Welcome to The morning report brought to you by Renil S Varghese — your quick dive into the top stories shaping the business world today. Fast, insightful, and to the point.
Tata defers call on Chairman’s term, signaling new power tussle
Tata Sons has deferred its decision on granting Chairman N. Chandrasekaran a third term after differences emerged within the board, including concerns over losses in some businesses and Noel Tata’s objection citing the retirement age cap of 65. Chandrasekaran’s current term ends in February next year. The delay comes amid recent crises for the Tata Group, including an Air India crash and a JLR cyberattack, as well as rising influence of Noel Tata at Tata Trusts. Chandrasekaran, appointed in 2017 after the Cyrus Mistry fallout, has overseen strong growth, but tensions over governance and succession continue to shape the leadership debate.
IDFC First Bank re-pays ₹583 crore to Haryana government departments
IDFC First Bank has fully repaid ₹583 crore in principal and interest to Haryana government departments after identifying a potential ₹590‑crore fraud at its Chandigarh branch. The bank said the issue was limited to a specific group of Haryana government–linked accounts and reaffirmed its customer‑first approach. A forensic audit led by KPMG is underway, with CEO V. Vaidyanathan stating that employees suspected of colluding with external parties will face action. Haryana has already withdrawn ₹200 crore and de‑empanelled the bank. While the estimated impact is ₹590 crore, the final loss will depend on recoveries, insurance, and additional claims.
Markets slide over 1% as IT rout deepens; Sensex drops 1,068 points
Markets closed sharply lower on Tuesday as heavy selling in technology stocks and weak global cues dragged indices below key levels. The Sensex fell 1,068 points to 82,225, while the Nifty dropped 288 points to 25,424. Market breadth was negative, with IT and financials leading declines; Tech Mahindra, HCL Tech, TCS and Infosys were major losers. Energy and metal stocks like NTPC, Coal India and JSW Steel saw selective buying. Analysts cited global uncertainty, AI‑related disruption fears and derivatives expiry for the volatility. The rupee weakened amid rising energy prices, while technical indicators pointed to continued fragility and a range‑bound outlook.
Kerala to be soon renamed Keralam
The Union Cabinet held its first meeting at the new Prime Minister’s office, ‘Seva Teerth’, and approved a proposal to rename Kerala as ‘Keralam’. The Kerala (Alteration of Name) Bill, 2026, will now be referred by the President to the Kerala Legislative Assembly for its views under Article 3. After the State’s response, the Centre will seek presidential recommendation to introduce the Bill in Parliament. Kerala had unanimously passed a resolution in 2024 to adopt the name ‘Keralam’, matching its Malayalam usage. Meanwhile, Shashi Tharoor humorously questioned what the new demonym for residents of “Keralam” should be.
Published on February 25, 2026