India Financial News

PG Electroplast today rallied 15% to their new 52-week high of Rs 718.35 on the BSE after the company’s wholly-owned subsidiary PG Technoplast has signed an agreement with Spiro Mobility for an exclusive partnership for manufacturing Spiro’s EV in India. “PG Electroplast Ltd. (PGEL), one of the pioneers and leaders in Electronic Manufacturing Services and Plastic Molding, through its wholly owned subsidiary, PG Technoplast Pvt. Ltd., has signed a Definitive Agreement with Spiro Mobility to become an Exclusive Manufacturing partner for manufacturing of the EVs of Spiro Mobility (Spiro) in India,” said the company in a filing to the exchanges.

The finance ministry is likely to seek approval of the federal cabinet in the coming months to dilute the stake in Central Bank of India, Indian Overseas Bank, UCO Bank, and Punjab and Sind Bank, the source said.

Granules India Ltd.(up 3.96 per cent), Natco Pharma Ltd.(up 2.04 per cent), Dr. Reddy's Laboratories Ltd.(up 1.93 per cent), Divi's Laboratories Ltd.(up 1.63 per cent) and Biocon Ltd.(up 1.59 per cent) were among the top gainers.

On the BSE, Bhartia Bachat(down 10.77 per cent), Maximus Intl.(down 9.99 per cent), Medico Remedies(down 9.99 per cent), Stellar Capital Svcs(down 9.75 per cent) and Honasa Consumer(down 9.73 per cent) were among the stocks that plunged over 5 per cent during the session.

Axis Securities has a buy call on Ambuja Cements with a target price of Rs 601. The current market price of Ambuja Cements is Rs 548.55. Ambuja Cements, incorporated in 1981, is a Large Cap company with a market cap of Rs 134708.22 crore, operating in the Cement sector. Ambuja Cements' key products/revenue segments include Cement, Other Operating Revenue and Scrap for the year ending 31-Dec-2021.

Stocks that rallied over 10% included, Laffans Petro(14.13%), Multibase India(13.44%), Indag Rubber(11.75%), Udayshivakumar Infra(11.72%), Atam Valves(11.52%), PG Electroplast(10.82%), Darshan Orna(10.32%) and Keerthi Ind(10.22%).

Tube Investments of India Ltd. 2.74 per cent to Rs 3529.55 in Tuesday's trade. It hit a high of Rs 3584.35 and low of Rs 3417.70 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 3932.42, while the 50-DMA was at Rs 4156.31. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades below 50-DMA and 200-DMA, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

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Bangladesh that it does not support government involvement in violent crackdowns on peaceful protests. This statement follows a recent clash between members of the Hindu community and law enforcement forces in Bangladesh's port city of Chittagong, triggered by a Facebook post criticising ISKCON. When questioned about the reported crackdowns on protests and the situation of minorities in Bangladesh, US State Department spokesperson Matthew Miller reiterated that the US supports the right to peaceful protest and opposes any government engagement in violent responses to such demonstrations.

G20 Summit in Brazil on Monday and Tuesday will bring leaders of all major economies together once again. The task before them is cut out. Prime Minister Narendra Modi is representing India for a record eleventh successive time. Such continuity is an advantage in a world of turmoil...when there is a deficit of global governance. Nothing is more powerful than the force of example. Since the first G20 Summit in 2008, and particularly since 2014, India has been a source of economic stability and growth. India, the fastest growing large economy, has quadrupled its GDP to almost $4 trillion since 2008. It is on track to become the third-largest economy in the next few years.

Starmer's office said on Monday, following a months-long pause in negotiations due to elections in both countries. London will seek a «new strategic partnership» with India as well as deepening co-operation in areas like security, education, technology, and climate change, Starmer's office said after he met his Indian counterpart, Narendra Modi, at the G20 summit in Brazil. «A new trade deal with India will support jobs and prosperity in the UK,» Starmer, whose Labour Party was elected to power in July, said.

Theranautilus, which develops nanorobotic solutions for healthcare, has raised $1.2 million in seed funding from Pi Ventures. The funding round also saw participation from Golden Sparrow Ventures and angel investors including Lalit Keshre, CEO of Groww, and Abhishek Goyal, founder and CEO of Tracxn. With the new funds, Theranautilus, incubated at the Indian Institute of Science (IISc), plans to establish an International Organisation for Standardisation (ISO)-certified manufacturing facility to commercialise nanorobotics-based medical devices, initially focusing on dental care applications and filing new international patents.

AI-powered startups are emerging across the Indian heartland in places ranging from Shillong in the NorthEast to Raipur in central India and across Coimbatore and Kochi in the south. These ventures are riding on local talent, cost efficiency and the need for diverse inputs to build the curated, Indic language technology models and services that the AI revolution is seeding. With access to cheaper talent, lower rentals and operational expenses, better quality of life than the metros and remote working arrangements, these companies do not feel the need to migrate to the metros as yet. Tech knows no bounds

A Mississippi Gulf Coast restaurant and its co-owner have been sentenced on federal charges of mislabeling inexpensive imported seafood as local premium fish

House of Anita Dongre (HOADPL) is initiating a buyback of its nearly 40% stake from US private equity firm General Atlantic (GA), executives aware of the development said. GA had acquired the stake in the owner of brands such as AND and Global Desi in the women's wear category about nine years ago. According to reports then, the PE firm had invested nearly ₹150 crore in Dongre's company in 2015. «There is continued uncertainty over recovery in revenue and earnings in the coming quarters due to weak demand growth outlook and reduction in Anita Dongre's scale of operations,» rating agency ICRA said in a January report on HOADPL. The report expects the company's revenue to decline to ₹500-₹550 crore in FY24 and FY25, from ₹606 crore in FY23, with an annual operating profit margin of 19-20%. The company is yet to file its FY24 earnings. A fashion retail veteran said brands like AND and Global Desi went from premium to mass and discounted heavily on online channels. «The product was reengineered as a result and lost its lustre in the process. Profit margins in the fashion industry should be robust so that it can be reinvested in the brand,» the person said.

Travis Head on Monday backed Virat Kohli to «have his moments in the series» as the Indian superstar continued to dominate talks in the run-up to the five-Test Border-Gavaskar Trophy, starting here on Friday. Kohli's ordinary returns with the bat this year in Test cricket notwithstanding, the 36-year-old has been the cynosure of all eyes since the Indian team landed in Australia last week. Head threw his support behind the Indian batting mainstay, who managed a mere 93 runs across three Tests against New Zealand at a forgettable average of 15.50 in his last assignment at home just before the tour of Australia. «No doubt, we will go through all their players, cannot wait to start well against them. Virat's going to have his moments in this series, hopefully not too many of them,» Head told the media at the Optus Stadium after Australia's training session.

RML started a pollution clinic last year. However, this year the number of patients is already up, highlighting the severity of air pollution across North India, especially the capital city, New Delhi. «We are seeing patients with breathlessness, blocked nose, itching in eyes and sore throat post Diwali,» said Dr Amit Jindal, consultant in respiratory medicine, RML hospital. «In the last few weeks, we are seeing a significant increase in respiratory complaints like asthma, chronic obstructive pulmonary disease (COPD), and bronchitis. „The number of patients are going up, already its more than last year,“ added Dr Ajay Shukla, Medical Superintendent, RML hospital.

air purifiers, indoor plants, remote work and online classes are all back in Delhi-NCR, as the thickening smog cover has once again left the national capital gasping for clean air in what has become an annual ordeal. Almost all companies including Deloitte, Coca-Cola, KPMG PepsiCo, Panasonic and Acer are encouraging work from home and/or have installed air purifiers and indoor plants at workplaces to keep employees safe. Companies selling air purifiers or air-conditioners fitted with air purifiers such as Panasonic, Acer and Sharp Business have seen a rise in demand not only from the metros but also tier-2 and 3 cities in neighbouring states like Haryana, Punjab and Uttar Pradesh, their executives told ET.

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Many schools have shifted classes online while offices have implemented work-from-home arrangements due to pollution. Consequently, consumers are increasingly opting for online orders to reduce the need to step outside. «Earlier, I used to deliver 30-35 orders a day, but now it's gone up to 45-50,» said a delivery partner working at Zepto. At night, deliveries take 5 to 10 minutes longer than usual because of the smog, he added.

Donald Trump's audacious win over Kamala Harris and the sweep of both Houses of the US Congress by the Republican Party, two significant developments have set the stage for an emboldened Trump 2.0 administration: Trump's cabinet appointments have set off shock waves across Washington, underscoring his trademark unpredictability. These choices signal his intent to shake up the established order and reinforce his disruptive approach to governance — something cut short by his loss to Joe Biden in 2020. With far-reaching implications, Elon Musk has officially joined the Trump administration. Musk's inclusion comes as little surprise, considering his public support for Trump during the campaign, including a reported $100 mn-plus in campaign contributions.