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National Bank for Agriculture and Rural Development (NABARD), New Delhi Regional Office convened the 1st Meeting of the High-Level Committee (HLC) of the Financial Year 2026-27 for monitoring the performance of the Short-Term Cooperative Credit Structure (STCCS) in. The meeting was chaired by Sri Pandurang K Pole, IAS, Secretary (Cooperation), GNCT of Delhi. The meeting was attended by Shri Eda Raja Babu, IAS, Special RCS, GNCTD, Sri Ashok Kumar, General Manager, RBI New Delhi, Sri Nabin Kumar Roy, CGM, NABARD, New Delhi RO and Shri Rajiv Kumar Kadyan, MD (Officiating), Delhi State Cooperative Bank (DStCB) and other Senior Officials from RBI, NABARD.

 

The HLC ensures continuous supervision, regulatory compliance, and improvement of the cooperative banking system in Delhi.

The Committee deliberated upon the financial performance of Delhi State Cooperative Bank Ltd., status of it’s compliance with Statutory and Regulatory provisions, review of status of it’s Internal Checks & Controls, strengthening Grievance Redressal Mechanisms, Governance and HR issues, technology upgradation & financial inclusion.

Chairing the meeting Shri Pandurang K Pole, IAS, Secretary (Cooperation), GNCT of Delhi, opined that Delhi State Cooperative Bank should diversify its activities and work on various digital modules to enhance the banking footprints of the bank. He also advised RCS office to extend adequate support to DStCB and NABARD.

The Committee reaffirmed its dedication to enhancing Delhi’s Rural Cooperative Banking framework by focusing on stronger governance, embracing modern technology, ensuring stricter financial discipline and driving reforms for better customer satisfaction.

 

voco Amritsar appoints Sumit Kumar as Executive Chef A seasoned culinary expert, Sumit Kumar will drive innovation across dining and banqueting experiences

National, 14 May 2026: voco Amritsar has announced the appointment of Sumit Kumar as Executive Chef. In his new role, he will spearhead culinary strategy and operations across the hotel’s restaurants, in-room dining and banqueting spaces. Sumit will also be heading the menu development, kitchen standards, team training and guest dining experiences at voco Amritsar.

Chef Sumit brings over 16 years of international culinary experience, specialising in Italian and Progressive Indian cuisine. Over the course of his career, he has worked with leading hospitality brands including ITC Hotels, Hyatt, Radisson Hotel Group, Marriott International and IHG Hotels & Resorts.

His professional journey has also taken him across international destinations such as Saudi Arabia, Dubai, England and Japan, where he gained valuable exposure to diverse culinary traditions and global dining standards.

Speaking on the appointment, Manish Yadav, General Manager, voco Amritsar, said: “Culinary experiences play a vital role in shaping memorable guest stays, and at voco Amritsar, this remains a key focus. Chef Sumit’s global exposure, creativity, and leadership will further strengthen the hotel’s dining and banqueting offerings. The team is delighted to welcome him on board and looks forward to the innovation and excellence he will bring to the culinary experiences at voco Amritsar.

Commenting on his new role, Chef Sumit Kumar said: “I am excited to join voco Amritsar, a brand known for its warm hospitality and vibrant guest experiences. I look forward to working with the team to craft menus that celebrate seasonal ingredients, refined techniques and global flavours, while creating memorable dining experiences for our guests.”

Sumit is passionate about discovering new ingredients, exploring diverse cuisines, and immersing himself in culinary traditions from around the world. His culinary philosophy is guided by a strong focus on authenticity, craftsmanship, and a deep respect for locally sourced produce. At voco Amritsar, Sumit Kumar will helm the kitchen brigade, curating distinctive dining experiences while bringing voco’s core philosophy of ‘reliably different’ to life through thoughtfully crafted gastronomic offerings.

India’s equity markets staged a sharp recovery in April 2026, supported by resilient domestic inflows, improving earnings expectations and hopes of easing geopolitical tensions in the Middle East, according to Tata Mutual Fund’s latest “Equity View” report for May 2026.

The Nifty 50 climbed 7.46% during April to close at 23,997, while the Sensex gained 6.9%, reversing part of the correction seen earlier this year. The report said bullish sentiment returned as volatility eased and investors priced in a potential stabilization in crude oil prices.

Broader markets outperformed benchmark indices during the month. The Nifty Midcap 150 surged 13.24% in April, while the Nifty Smallcap 250 jumped 17.1%, reflecting renewed risk appetite among investors.

However, the report cautioned that large-cap stocks currently offer better risk-reward opportunities than mid- and small-caps due to more reasonable valuations and stronger earnings visibility.

Domestic Investors Continue to Anchor Markets

Domestic institutional investors (DIIs) remained a major support for Indian equities even as foreign institutional investors (FIIs) continued to pull money out of the market.

FIIs were net sellers to the tune of $5.9 billion in April 2026 amid concerns over rising crude prices, geopolitical tensions and weakness in the rupee. In contrast, DIIs recorded inflows of $5.4 billion during the month, taking total domestic inflows in calendar year 2026 to $32.6 billion.

The report highlighted the growing influence of domestic mutual funds in Indian equities. Mutual funds now own 11.3% of India’s total market capitalization, up sharply from 4.3% a decade ago. Assets under management have climbed to nearly $800 billion, driven largely by strong retail participation and systematic investment plans (SIPs).

Banking, Manufacturing and Pharma Seen as Key Growth Drivers

Tata Mutual Fund expects corporate earnings growth to recover in FY27 after downgrades in FY25 and FY26. The report identified banking, manufacturing, capital goods and pharmaceuticals as sectors likely to benefit from the next phase of growth.

Banks are projected to deliver 15-20% growth in FY27, supported by improving credit demand, benign asset quality trends and recovery in net interest margins after expected bottoming out in FY26.

Credit growth has already shown signs of acceleration. Bank credit expanded to 17.1% in March 2026 as rising government bond yields made bank borrowing cheaper than bond issuances for corporates. The report expects retail lending, infrastructure financing and MSME borrowing to remain key growth drivers going forward.

Meanwhile, capital goods and utilities continued to gain weight in mutual fund portfolios. Allocation to capital goods rose to a 17-month high of 7.8% in April, while utilities climbed to a 19-month high of 3.9%. Technology sector allocation, however, dropped to an eight-year low.

Crude Oil and Geopolitics Remain Key Risks

Despite optimism around domestic growth, the report flagged crude oil prices and global geopolitical developments as the biggest near-term risks for Indian markets.

Brent crude averaged $121.63 per barrel in April 2026 following supply disruptions and infrastructure damage in the Middle East. Global crude supply reportedly fell to 97 million barrels per day in March from 107 million barrels per day in February due to regional conflict.

The report warned that India remains vulnerable to higher oil prices because of its dependence on imports, adding that rising crude and geopolitical uncertainty also contributed to rupee weakness. The Indian currency averaged 93.31 against the U.S. dollar in April and remained among the weakest-performing Asian currencies over the past year.

GDP Outlook Remains Strong

India’s macroeconomic outlook remains resilient despite global uncertainty, the report said. The Reserve Bank of India expects GDP growth of 7.4% in FY26 and 6.9% in FY27, supported by domestic demand, agricultural recovery, construction activity and resilient services growth.

Inflation also remained relatively contained, with consumer price inflation at 3.4% in April 2026, while the RBI kept the repo rate unchanged at 5.25% during its latest monetary policy meeting.

India’s foreign exchange reserves rose to $690.69 billion in April, providing a strong external buffer amid currency volatility and global uncertainty.

Valuations Turn More Reasonable

The report said Indian equities are now trading at more reasonable valuations after recent corrections. The Nifty 50’s one-year forward price-to-earnings multiple stood at around 19.1x, below its 10-year average of approximately 21x.

While India still trades at a premium to other emerging markets, that premium has narrowed considerably. The Nifty 50’s valuation premium over the MSCI Emerging Markets index declined to 60.2% by the end of April 2026 from 77% in March 2025.

The report concluded that a balanced portfolio approach with greater emphasis on large-cap stocks, selective exposure to mid- and small-caps, and a focus on earnings upgrades could help investors navigate a range-bound but improving market environment.

Sangli, Maharashtra, May 14, 2026: Quality Power Electrical Equipments Limited (BSE: 544367; NSE: QPOWER), a leading player in critical energy-transition equipment and power technologies, today announced its audited financial results for the quarter and financial year ended March 31, 2026.

The company reported its highest-ever annual consolidated revenue of ₹10,070 million in FY26, marking a robust 156.9% year-on-year growth. EBITDA for the year stood at ₹2,362 million, up 97.8% YoY, reflecting strong operational momentum across key global markets and emerging energy-transition sectors.

Quality Power closed FY26 with an order book exceeding ₹1,400 crore, equivalent to nearly 1.4x of FY26 revenue, providing strong visibility for FY27 and beyond. The company continued to witness sustained demand across HVDC, FACTS, Battery Energy Storage Systems (BESS), data centres, utilities, renewable energy, industrial infrastructure, and power-quality applications.

For Q4 FY26, consolidated revenue rose 138.5% YoY to ₹3,098 million, while PAT increased 65.7% YoY to ₹506 million. FY26 PAT stood at ₹1,855 million, registering an 85.3% increase over the previous year.

The company noted that Q4 FY26 results included one-time provisions related to the implementation of new Labour Codes across its Indian operations and subsidiaries. Additionally, a non-cash accounting adjustment of approximately ₹25.7 crore was recognised under Ind AS 29 for its Turkish subsidiary Endoks due to hyperinflationary accounting requirements. The company clarified that this adjustment does not impact operational performance or cash flows.

During FY26, Quality Power strengthened its presence across North America, Europe, the Middle East, and Asia-Pacific markets through multiple repeat orders from Tier-1 utilities and EPC customers. The company also accelerated investments in manufacturing integration, advanced testing infrastructure, import substitution, and the development of its upcoming Global Coil Manufacturing Facility in Sangli, aimed at enhancing capabilities in HVDC and FACTS applications.

Commenting on the performance, P.T. Pandyan, Chairman & Managing Director, said:

“FY2026 has been a defining year in the evolution of Quality Power. Over the past several years, our focus has been on systematically transforming the organisation from a traditional high-voltage equipment manufacturer into a globally relevant technology-driven power infrastructure company with deeper engineering capabilities, broader product integration and stronger participation across next-generation grid applications.”

He added that the company remains focused on strengthening advanced engineering capabilities, localisation, vertical integration, and technology development to support the rapidly evolving global power infrastructure landscape driven by renewable integration, AI-led data centres, and grid modernisation initiatives.

Looking ahead, the company remains optimistic about long-term growth opportunities supported by rising global investments in grid modernisation, HVDC interconnections, renewable energy integration, energy storage systems, and AI-driven digital infrastructure.