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Bloomberg Quint
1w
861
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Asian Paints Sells Rs 730-Crore Stake To Exit Akzo Nobel Post JSW Deal
- Asian Paints sold its entire stake in Akzo Nobel India Ltd, accounting for 4.42% of the company’s outstanding equity, at an average price of Rs 3,651 per share, totaling Rs 734 crore.
- The move came after the promoters of Akzo Nobel signed a share purchase agreement with JSW Paints valued at Rs 9,400 crore, leading to an open offer by JSW Paints at Rs 3,417.77 per share.
- JSW Paints plans to fund the Rs 13,000-crore acquisition of Akzo Nobel India through a mix of internal accruals, bank debt, and private equity support in a one-third, one-third, one-third ratio.
- Despite the open offer by JSW Paints, shares of Akzo Nobel India closed 1.56% lower, but have seen a 25.36% rise in the last 12 months.
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Bloomberg Quint
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88
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Bata India, V-Mart Looking At A Slow Start To FY26 Projects Nirmal Bang Ahead Of Q1 Results
- Nirmal Bang recommends a 'Buy' rating on Bata India and V-Mart ahead of Q1 FY26 results.
- Stronger sales of premium products like Sneakers, Hush Puppies, Comfit & Floatz, along with continued e-commerce momentum, are expected to drive Bata's topline.
- Nirmal Bang forecasts a slow recovery in volumes for mass category products due to competitive intensity from organized, unorganized, and e-commerce players for Bata and V-Mart.
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Bloomberg Quint
1w
1.2k
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8th Pay Commission: 30-34% Effective Salary Hike On Cards, Rollout Likely In FY27, Says Ambit Capital
- The 8th Pay Commission is expected to bring a 30-34% effective salary hike.
- This increase, likely in FY26-27, could cost the Center an additional Rs 1.8 lakh crore.
- The panel setup for the new Commission may delay the implementation timeline to FY27.
- Rolling out the new salaries and pensions could boost GDP and equity market inflows.
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Bloomberg Quint
1w
12
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LTIMindtree, eClerx, Oracle Financial Services — Dolat Capital's Preferred Pick In IT, Internet, Software, KPO
- Dolat Capital's preferred picks in IT, Internet, Software, and KPO sectors include LTIMindtree, eClerx, and Oracle Financial Services.
- For Q1, Dolat Capital anticipates tier-1 companies to report negative to low single digit growth in CC terms, while tier-2 companies may see negative to high single digit growth in CC terms.
- Q1 FY26 is expected to see strong cross-currency tailwinds, with gains ranging from 60 bps to 340 bps, especially for companies with a significant presence in the UK/Europe.
- Potential downward pressure post-Q1 earnings is predicted for companies like Tech Mahindra, KPIT, Newgen, and Eternal due to recent stock price increases.
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Eu-Startups
1w
235
London-based ScienceMachine raises €2.9 million for BioTech analysis with a team of only two and without spending “a cent on marketing”
- ScienceMachine, a British AI startup, raised a €2.9 million pre-Seed funding round to accelerate BioTech data analysis using autonomous AI agents.
- The funding, led by Revent and Nucleus Capital, supports product development, hiring, and aims to help biopharma make discoveries faster and cheaper.
- ScienceMachine's AI agent, Sam, automates data analysis for BioTech organizations, claiming to outpace larger teams 100 times their size.
- Without marketing spend, ScienceMachine is delivering production-level AI automation, reducing costs, accelerating scientific discovery, and expanding its reach into larger companies.
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Bloomberg Quint
1w
406
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'Buy' Mold-Tek Packaging Shares Maintains Nirmal Bang — Here's Why
- Mold-Tek Packaging is targeting 12-15% volume growth driven by FMCG and paints with support from pharma.
- The company is increasing the use of Recycled Content Plastic to align with industry mandates, especially in the paint and lube sector.
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Bloomberg Quint
1w
288
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MSEI Plans Rs 1,000-Crore Fundraise, Attracts Key Market Players
- The Metropolitan Stock Exchange of India (MSEI) plans to raise Rs 1,000 crore by issuing 500 crore shares.
- The fundraise will include investments from various venture capital firms, brokers, Alternative Investment Funds, and family offices.
- Key investors expected to participate include Peak XV Partners, Monarch Networth, and others like Share India, Trust Investment Advisors, Jainam Broking, Marwadi Chandarana, KIFS, and Evolve Capital.
- MSEI is making efforts to enhance its operations and stay competitive, considering a venture into the cash market and collaborating with other leading exchanges.
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Bloomberg Quint
1w
231
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'Tsunami Of Unjust Taxes': Hospitality Industry Warns Of Collapse In Maharashtra
- The Indian Hotel and Restaurant Association (AHAR) warns of the collapse of Maharashtra's hospitality sector due to recent tax hikes, calling them a 'tsunami of unjust taxes.'
- Tax increases include a doubling of VAT on liquor, a 15% rise in license fees, and a 60% hike in excise duty, adding significant financial strain on the industry.
- The Maharashtra hospitality sector, with over 19,000 licensed bars and permit rooms employing about 4 lakh people, faces the risk of rising tax evasion, smuggling, reduced affordability for consumers, and economic downturn.
- AHAR urges the government to roll back the tax hikes and engage with industry stakeholders to prevent further damage to the sector and the state's economy.
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Bloomberg Quint
1w
334
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Nifty Top Gainers, Losers On July 9: Shriram Finance, Coal India To HCLTech, Tata Steel
- Top gainers on NSE Nifty 50 included Shriram Finance, Bajaj Finance, and Coal India, while top losers were HCL Technologies, Tata Steel, and Hindalco Industries.
- Stocks like HCLTech and Tata Steel experienced significant declines, with HCLTech leading with a 1.98% drop.
- The Nifty closed below 25,500, ending a three-day gaining streak. Nifty Realty, Metal, and Oil and Gas sectors were the top losing sectors.
- The NSE Nifty 50 closed 0.18% down at 25,476.1, while the BSE Sensex closed 0.21% lower at 83,536.08.
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Bloomberg Quint
1w
165
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Mahanagar Gas, HPCL Among Dolat Capital's Top Stock Picks In Oil And Gas Sector; Q1 Results Preview
- Dolat Capital has identified Mahanagar Gas and HPCL as top stock picks in the oil and gas sector, projecting bumper earnings growth.
- Q1 results preview suggests CGDs could see a significant increase in Ebitda/PAT due to a sharp decline in gas cost and partial CNG price hikes.
- HPCL/BPCL/IOCL are expected to report strong Ebitda numbers, driven by high GMM on petrol/diesel, LPG price declines, and government actions like excise duty hikes.
- The article provides in-depth analysis of the Q1 projections and factors impacting the oil and gas sector's financial performance.
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Bloomberg Quint
1w
364
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Ahead Of Samsung Galaxy Z Fold 7 Launch, Galaxy Z Fold 6 Price Drops By Rs 40,000
- The Samsung Galaxy Z Fold 6's price has been reduced by Rs 40,000 ahead of the launch of the Galaxy Z Fold 7.
- Originally priced at Rs 1,64,999, the Galaxy Z Fold 6 is now available for Rs 1,25,599 on Amazon, offering customers a discount of 24%.
- Customers can avail additional benefits like cashback, bank offers, and exchange deals, making the purchase even more affordable.
- The Galaxy Z Fold 6 features flagship-level specifications including Snapdragon 8 Gen 3 processor, up to 12GB RAM, 1TB storage, and a 4400mAh battery with 25W fast charging.
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Bloomberg Quint
1w
114
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China Rebukes EU Chief After Demand For Greater Trade Access
- China rebuked European Commission President Ursula von der Leyen after a demand for greater trade access, emphasizing the need for a mindset rebalance by the EU.
- Chinese Foreign Ministry spokesman Mao Ning urged managing differences through dialog and expressed willingness to expand imports from the EU.
- The dispute arises from market distortions, export controls on rare earth magnets, and imbalanced trading relationships between China and the EU.
- The ongoing trade tensions have led to canceled summit plans between China and EU officials, impacting various industries and trade practices.
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Eu-Startups
1w
135
London-based Wrisk raises €13.9 million for their embedded vehicle insurance platform
- British InsurTech startup Wrisk has secured €13.9 million in Series B funding to support its embedded insurance platform for the automotive OEM sector.
- The funding round was co-led by Mundi Ventures and Opera Tech Ventures, with existing investors QBN and Volution participating as well.
- Wrisk aims to accelerate UK and European growth, enhance data capabilities, and scale partner programmes to transform how insurers and automotive brands interact with customers.
- Wrisk's platform provides data-driven, branded insurance experiences across the ownership lifecycle and powers insurance programmes for major automotive brands.
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Bloomberg Quint
1w
868
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'Buy' PN Gadgil Shares Reiterates Motilal Oswal — Here's Why
- Motilal Oswal reiterates Buy rating on PN Gadgil (PNG) shares with a target price of Rs 825, valuing the stock at 30 times Mar’27E earnings per share.
- PNG is expected to expand Ebitda margins to 5.1%-5.2% over FY26-27 due to a better product mix, operating leverage, and efficient sourcing.
- PNG plans to open 22-25 new stores in FY26, with retail revenue anticipated to grow over 35%. Franchisee and ecommerce channels are also projected to grow significantly.
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Bloomberg Quint
1w
816
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India To Outperform Asian Economies In Private Capex On Recent Policy Reforms, Says Chetan Ahya
- India is expected to outperform Asian economies in private capital expenditure driven by recent policy reforms, according to Chetan Ahya from Morgan Stanley.
- Ahya praised India's monetary policy direction and mentioned the potential for more rate cuts by the Reserve Bank of India in the current cycle.
- Morgan Stanley recommends monitoring the impact of trade tensions on corporate capital expenditure in Asia, with potential challenges for growth due to the slowdown in private capital expenditure.
- While Asian economies may struggle with the effects of trade tensions, there is room for fiscal and monetary policy stimulus to counter these challenges.
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