Pakistan's benchmark index surges 9% in early trade on ceasefire with India
opened up over 9% on Monday after a ceasefire over the weekend with neighbour India returned calm to the markets.
Saturday's ceasefire in the Himalayan region, announced by U.S. President Donald Trump, followed four days of intense firing and diplomacy and pressure from Washington.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Linda Kozlowski, 67, Shows Off Her Perfect Figure In A New Photo
Investructor
Undo
Indian shares also rallied on Monday.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
a few seconds ago
- Mint
‘Setting a plan of action for next 5 year…': PM Modi hails ‘historic day' on Philippines President's Delhi visit
Prime Minister Narendra Modi on Tuesday met Philippines President Ferdinand R Marcos Jr at Hyderabad House, wherein their talks were aimed at further cementing the friendship between the two nations. After the meet, addressing reporters, PM Modi hailed 'a historic day for bilateral relations' between the two Asian nations. PM Narendra Modi said, 'We are taking India to the levels of a strategic partnership. This will give our relationship a new speed and depth, and give strength to our relationship in the Defence and Security Sector.' 'In the last few years, there has been progress in our relations in all sectors- trade, defence, maritime, health, security, food security, development partnership, and people-to-people ties. It is a matter of great happiness that we are setting a plan of action for the next five years.' PM Modi said adding, 'Till July 2027, the Philippines is India's country coordinator. In 2026, you will preside over the ASEAN Chair'. Prime Minister Narendra Modi expressed his appreciation for the Philippines' decision to grant visa-free entry to Indian tourists, describing it as a welcome move. He announced that, in a reciprocal gesture, India would offer free e-visas to tourists from the Philippines. PM Modi further stated that efforts would be undertaken this year to establish direct flight connectivity between India and Manila, enhancing travel and tourism ties between the two nations. India and the Philippines have conducted joint naval exercises for the first time in the disputed South China Sea — a significant military deployment that has provoked a strong reaction from China, according to an Associated Press report. Beijing has long-standing territorial disputes with both Asian democracies and a historic regional rivalry with New Delhi. The Chief of Staff of the Armed Forces of the Philippines, General Romeo Brawner, stated on Monday that the two-day joint naval sail and exercises, which commenced on Sunday, were successfully carried out, the AP report added. Brawner expressed hope that Filipino forces would engage in further joint manoeuvres with the Indian military in the future. When asked whether Chinese forces had responded in any way, General Brawner remarked, 'We did not experience any untoward incident but we were still shadowed. We expected that already.' This is the first visit by the President of Philippines, a Southeast Asian country to India since he assumed office back in 2022, marking a significant milestone, as his visit aligns with the celebration of the 75th anniversary of diplomatic ties between the two nations. He is accompanied by First Lady Louise Araneta Marcos and a high-level delegation, including several Ministers from his Cabinet. Philippines President is visiting India from August 4-8.
&w=3840&q=100)
Business Standard
a minute ago
- Business Standard
KICL forays into value footwear market with Zodiz and Jeetlo acquisition
Chennai-based Kothari Industrial Corporation (KICL), a part of the D C Kothari group, has acquired Zodiz, Jeetlo, and other associated sub-brands in the footwear field. These brands cater to the price- and quality-conscious mass market, offering products below Rs 1,000 per pair — a segment that accounts for nearly 80 per cent of total Indian footwear consumption, valued at Rs 80,000 crore to Rs 85,000 crore annually. This is KICL's official entry into the branded value footwear and accessories segment, marking a significant milestone in its growth journey in the footwear sector. "We are pleased to confirm the successful acquisition of the Zodiz, Jeetlo, and other associated sub-brands, effective 4 August 2025. This acquisition gives KICL an immediate foothold in one of the fastest-growing and underserved consumer segments," said Jinnah Rafiq Ahmed, Executive Chairman, KICL. This comes at a time when India's footwear industry is witnessing rapid shifts in consumer preferences. Footwear is no longer viewed purely as a utility — it has evolved into a symbol of personal style and self-expression, the company said. "This entry in the value segment is significant, given the fact that Indian footwear consumption is slated to grow and is evolving from a utility to self-expression for young, discerning consumers," said N Mohan, Director of the company. "Key differentiators will be fashion-relevant, comfort-first, and price-accessible products aimed at Tier 2 and Tier 3 consumers, the emerging urban centres," he added. With per capita consumption at 1.9 pairs per annum and expected to double by 2030, the opportunity for value-driven, fashion-apt products is immense in India. The Government of India's continued focus on this sector further reinforces the timing and relevance of entry, a statement said. "Our business strategy will be distribution-led, targeting Tier 2 and Tier 3 cities — India's emerging urban hubs where the appetite for affordable fashion is on the rise," said Ahmed. "We aim to deliver products that are style-relevant, aligned with evolving fashion sensibilities, comfortable, and affordable. Our extensive distribution network will be instrumental in scaling reach and building long-term value across the ecosystem," he added. "With a strong team, deep market understanding, and robust infrastructure, KICL is well-positioned to capture this opportunity. We view this move not just as an acquisition, but as the beginning of a new chapter — one that will unlock value for consumers, partners, and stakeholders alike," Ahmed said. "We are excited to embark on this journey at a time when the Indian footwear market is undergoing a profound transformation. Our goal is to serve the rising aspirations of young Indian consumers while creating lasting stakeholder value," he said.
Economic Times
a minute ago
- Economic Times
Aditya Infotech shares rally 8% on trading debut. What should investors do?
Aditya Infotech, the CP PLUS parent, made a stellar debut on the bourses with a 51% premium over its IPO price. While analysts flagged near-term valuation concerns, trading at ~52x FY25 earnings, they remain optimistic about long-term prospects, citing strong brand equity, a wide distribution network, and rising demand for AI-driven surveillance. Investors are advised to accumulate on dips. Tired of too many ads? Remove Ads Listing surpasses grey market expectations Tired of too many ads? Remove Ads 'After the euphoria': What should investors do? Verdict: Company Fundamentals and Growth Outlook Tired of too many ads? Remove Ads Shares of surveillance tech firm Aditya Infotech surged as much as 8% on their stock market debut on Tuesday, delivering strong gains to IPO investors and surpassing pre-listing expectations. The performance prompted market participants to weigh near-term valuation risks against the company's long-term structural potential, as analysts flagged stretched valuations and recommended selective accumulation following the listing stock opened at Rs 1,018 on the BSE, a 50.8% premium to its issue price of Rs 675, and at Rs 1,015 on NSE, reflecting a 50.4% debut gain. It rose further during the session, hitting an intraday high of Rs 1,095 on BSE and Rs 1,094 on NSE, translating to gains of around 7.6%–7.8% over the opening listing performance surpassed the last grey market premium (GMP) of Rs 305, which implied an expected listing gain of around 45.2%. Aditya Infotech is now the most successful Indian IPO of 2025 by listing gain, edging past GNG Electronics, which debuted last month at a 49.8% Rs 1,300 crore IPO included a Rs 500 crore fresh issue and a Rs 800 crore offer for sale. The issue received a strong response from investors, with total subscription reaching 106.23 times, led by QIBs (140.5x), followed by non-institutional investors (75.93x) and retail investors (53.81x).Ahead of the issue, Aditya Infotech raised Rs 582.3 crore from anchor investors.'The CP PLUS parent and a leading player in India's electronic security space delivered a spectacular stock market debut, listing at over Rs 1,015—up 51% from its IPO price of Rs 675. But after the initial euphoria, investors are now asking a more fundamental question: Is there value at current levels?' said Sourav Choudhary, Managing Director at Raghunath Capital.'At the listing price, Aditya Infotech trades at a P/E multiple of ~52x FY25 projected earnings—a notable premium to peers in the hardware and surveillance equipment space. While its brand strength, wide distribution network, and government-aligned product portfolio justify a valuation premium, the current price leaves limited room for near-term upside unless growth exceeds expectations,' he expect the company's earnings to grow at a CAGR of 22–25% over the next three years, driven by smart city projects, public sector demand, and increasing adoption of home-security Choudhary cautioned that import dependence on China and the risk of margin compression remain key concerns. 'Any forex volatility or policy changes around electronics sourcing could impact profitability,' he these risks, Choudhary sees long-term potential in the stock. 'Many view Aditya Infotech as a structural play on India's security-tech upcycle, with room to scale through product innovation, direct-to-retail expansion, and AI-integrated surveillance solutions.''While short-term investors may look to book partial profits post-listing, long-term investors could consider accumulating on dips—particularly if the stock cools toward the Rs 940–980 range, aligning valuations more closely with sustainable earnings growth,' Choudhary Infotech is India's largest provider of video surveillance equipment, operating under its flagship brand CP PLUS. It has a presence in over 550 cities, supported by a vast network of 1,000+ distributors and 2,100 system integrators. Its product lineup includes IoT-enabled home cameras, AI-driven surveillance systems, and industrial-grade security FY25, the company reported a net profit of Rs 351 crore on revenue of Rs 3,123 crore, reflecting a 205% year-on-year surge in profit. IPO proceeds are earmarked for Rs 375 crore in debt repayment, with the rest allocated to general corporate read | Aditya Infotech shares soar 51% on debut, biggest IPO listing gain of 2025
