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Business Recorder
14 minutes ago
- Business Recorder
Erin downgraded to Category 3 hurricane, NHC says
Erin, the first hurricane of the 2025 Atlantic season, has been downgraded to Category 3, the US National Hurricane Center said early on Sunday, as the storm's wind speed eased slightly. The hurricane was about 330 miles (530 km) east-southeast of Grand Turk Island packing maximum sustained winds of 125 mph (205 kph). It had been gauged as high as a catastrophic Category 5 with maximum sustained winds of 160 mph (240 kph), then downgraded to a Category 4. It had earlier been forecast to strengthen into this week. The meteorological services of France and the Netherlands discontinued tropical storm watches for St. Martin, St. Barthelemy and Sint Maarten, the NHC said. On Sunday, Erin was moving west-northwest at nearly 14 mph (22 kph) with a decrease in forward speed expected on Sunday and a turn to the north on Monday and Tuesday, the NHC said. Erin was forecast to pass to the east of the Turks and Caicos islands and the southeastern Bahamas on Sunday night and Monday. Swells generated by Erin will continue to affect parts of the northern Leeward Islands, the Virgin Islands, Puerto Rico, Hispaniola and the Turks and Caicos Islands for the next couple of days, the NHC said. These swells will spread to the Bahamas, Bermuda, the east coast of the United States, and Atlantic Canada during the early and middle portions of the week. Rough ocean conditions will likely cause life-threatening surf and rip currents, the NHC said. The Bahamas, which provides some meteorological services for the Turks and Caicos Islands, issued a Tropical Storm Watch for the British islands to its southeast. Erin has also raised concerns about wildfire risks if human-caused sparks ignite parched vegetation and strong dry winds fan the flames. BMS Group Senior Meteorologist Andrew Siffert said these conditions could arise if Erin grows into a powerful offshore storm fueled by colliding warm and cold air rather than tropical seas. Insurance-linked securities manager Twelve Securis said on Friday that Erin was forecast to remain far enough offshore to spare the US East Coast from significant impacts.
Time of India
32 minutes ago
- Time of India
Early monsoon, intense competition dampen paint companies' Q1 growth
The early arrival of the monsoon this year and intense competition from new market entrants with aggressive pricing adversely impacted the June quarter earnings of leading paint makers. Independence Day 2025 Modi signals new push for tech independence with local chips Before Trump, British used tariffs to kill Indian textile Bank of Azad Hind: When Netaji Subhas Chandra Bose gave India its own currency However, the top four listed paint makers, including Asian Paints , Berger Paints , Kansai Nerolac Paints and Akzo Nobel India , reported some sequential improvement, especially from the urban market, along with improvement in sales realisation due to price rise. Moreover, as Diwali is slightly ahead compared to last year, paint manufacturers expect a better performance in August and September. Asian Paints, the largest company in the sector, said the early monsoon was a bit of a dampener, which affected some of its business. "In April and May, the demand was better, but it was strongly impacted by the early monsoon. However, I think the silver lining was that we saw some shoots of demand coming up in urban areas, which were down, and we hope that it continues as we go ahead," Asian Paints Managing Director and CEO Amit Syngle said in the earnings conference call. Live Events While terming the overall competition in the market as "intense", Syngle said, "a lot of new competition coming in, existing competition also being strong". In the decor business , the segment witnessed intense competition due to the arrival of new players, he said, adding that Asian Paints' volume growth has been decent. "We have got about 3.9 per cent volume growth over the Q1 of last year, which was also at about 7.1 per cent volume growth. When we look at the value number, the value is just about -1.2 per cent. So, just falling short of possibly hitting the base," he added. On a standalone basis, which mainly includes domestic numbers, Asian Paints' revenue from sales slipped 1.19 per cent to Rs 7,848.83 crore in the June quarter. Berger Paints recorded a 'mid-single digit' volume growth in the June quarter. The "growth was moderated by heavier than expected monsoon towards the end of May and June," said its Managing Director and CEO Abhijit Roy in the earnings call. "So, it started a bit early this time by the end of May, which was a surprise. Across many markets, it was quite intense in some parts of the a result of that, in paint, it (purchase) gets postponed." Berger Paints reported an 11 per cent decline in its consolidated net profit to Rs 315 crore for the June Quarter of FY26. However, its revenue from operations inched up 3.55 per cent to Rs 3,200.76 crore. "The decorative segment delivered mid single-digit volume growth. The volume value gap narrowed, driven by improved mix and waning impact of price, and prior price corrections," Roy said. Similarly, Kansai Nerolac also pointed out that an early onset of monsoon impacted its May sales. "Overall, monsoon in many places has caused some disturbances that have led to this temporary, I would say, stoppages, especially in the area of projects as well as some part of retail," its Managing Director Pravin Chaudhari said in the earnings conference call. The project and institutional business has done well, though "not as per our expectation because of this monsoon, which impacted the segment, and it has grown mid-single digit," he noted. However, exterior texture and waterproofing have seen good growth in the June quarter, he added. Chaudhari said rural demand is quite stable as of now, and there is a slight uptick in urban demand. However, he is still not sure whether that will continue the momentum. On the outlook, he said, " Construction activity based on whatever we saw in the month of June, we believe that Q2 should be better as far as decorative is concerned. It is also due to our Diwali being slightly ahead of time than last year. I think we will have a season. August and be better than what it was last year". Kansai Nerolac Paints reported a 4.12 per cent fall in its consolidated net profit to Rs 215.6 crore for the June quarter, while its revenue from operations increased 1.35 per cent to Rs 2,162.03 crore. Similarly, Akzo Nobel India, in which JSW Paints is acquiring a 74 per cent stake, reported a 20.6 per cent drop in consolidated net profit to Rs 91 crore in the June quarter. Its revenue from operations slipped 4 per cent to Rs 995.1 crore from Rs 1,036.3 crore in the year-ago period. The company had a "stressed quarter" due to the muted consumer sentiment and competitive intensity. Replying to a query over the sectoral competition during the earnings Webinar, Akzo Nobel India CMD Rajiv Rajgopal said the top four listed players' revenue growth is "pretty flattish". "If you take the last three, four quarters, with 52 per cent of the industry having a decline, right? So, obviously, it was a decline. But, I think things are that is what you heard from all my peers, from all my counterparts, and that is fairly indicative," said Rajgopal. "The biggest battle we were having was with the newcomer, who obviously put in a lot of volume and revenue into the market." The Indian paint industry, which is estimated to be around Rs 75,000 crore, is led by Asian Paints. Besides Berger, Kansai Nerolac, Akzo Nobel India (Dulux), Indigo Paints , Shalimar Paints , and Nippon Paints are other major brands.
Time of India
33 minutes ago
- Time of India
Heavy rains leave 361 roads, 637 power transformers, 115 water schemes disrupted in Himachal; Death toll reaches 261
Heavy rains continue to wreak havoc across Himachal Pradesh, severely disrupting roads, power, and water supply systems. According to the Himachal Pradesh State Disaster Management Authority (HPSDMA), as of Sunday morning, 361 roads, including three national highways, remain blocked, while 637 distribution transformers (DTRs) and 115 water supply schemes are disrupted. Independence Day 2025 Modi signals new push for tech independence with local chips Before Trump, British used tariffs to kill Indian textile Bank of Azad Hind: When Netaji Subhas Chandra Bose gave India its own currency The ongoing monsoon fury has claimed 261 lives since June 20, of which 136 people died in rain-related incidents such as landslides, flash floods, and house collapses, while 125 were killed in road accidents triggered by slippery conditions and poor visibility , according to SDMA. Officials said that road connectivity has been hit the hardest in Mandi district with 201 blockages, including the strategic NH-03, followed by Kullu where 63 roads are closed due to landslides, including NH-305 at Khanag. Kinnaur also reported disruption on NH-05 at Tinku Nalla. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like War Thunder - Register now for free and play against over 75 Million real Players War Thunder Play Now Undo In terms of power supply , Mandi district reported the highest disruption with 448 DTRs damaged, followed by Lahaul-Spiti where 112 transformers failed due to faults in high-tension lines. Water supply schemes remain the worst affected in Kullu and Mandi, where several schemes have been rendered inoperative due to heavy rains and landslides. The HPSDMA said restoration work is underway on a war footing, but continuous downpours and recurring landslides are hampering operations. Live Events Authorities have urged people to avoid unnecessary travel, especially in vulnerable areas, as the state braces for more rainfall in the coming days.
