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Mint
18 minutes ago
- Mint
400% rally in four years! Small-cap multibagger stock to be in focus on Monday; here's why
Small-cap multibagger stock Pavna Industries will remain in focus in Monday's trading session after the company announced that the company will form a joint venture company with SmartChip Microelectronic Corporation, on Thursday, August 14. Pavna Industries share price fell over 2.68 per cent to close at ₹ 407.30 apiece on Thursday, as compared to previous close of ₹ 418.50 on Wednesday. The small-cap stock has remained volatile in the short-term. The stock gained nearly 7 per cent in past five trading sessions, however, descended 5.68 per cent in a month. Pavna Industries shares have given multibagger returns to its long-term investors by soaring over 400 per cent in four years. In an exchange filing dated August 14, the company informed the exchanges that there is a Joint Venture Agreement executed between Pavna Industries and SmartChip Microelectronic Corporation. The joint venture formed will undertake and carry on the business of making electronic components for the automobile industry. ' The proposed Joint Venture (JV) Company to carry on the business of inter alia making electronic components for the automobile industry (ICE & EV) and for other industries like hardware for cupboard/door locks etc. in residential/commercial industries, aero, medical Pavna,' the company said in the filing. The proposed shareholding structure for the joint venture will see Pavna Industries Limited holding a majority stake of 80 per cent, while SmartChip Microelectronic Corporation will own the remaining 20 per cent. The Authorised and paid-up capital of the company shall be ₹ 5,00,000 (Five lakh) divided into 50,000 (Fifty Thousand) Equity Shares of ₹ 10/- each. The company further informed the exchanges that the joint venture will be subsidiary of Pavna Industries Limited with 80 per cent holding and four directors will be nominated by Pavna Industries and one Director shall be nominated by SmartChip Microelectronic Corporation. ' The Equity Shares of proposed Joint Venture Company will be subscribed at a price of Rs. 10/- each by Pavna Industries Limited and Smartchip Mircoelectronic Corporation,' it said in case of issuance of shares to the parties. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Business Standard
18 minutes ago
- Business Standard
Prometheus Business League concludes with grand closing ceremony
PNN Ahmedabad (Gujarat) [India], August 15: The Prometheus Business League (PBL), an annual initiative of BNI Ahmedabad's Prometheus chapter, concluded on Thursday with a grand closing ceremony, marking the end of its fourth edition themed Vyuh, symbolising strategy. The five-week league, which ran from July 2 to August 6, is designed to promote effective chapter activities and strengthen professional relationships among members. PBL 4.0 involved 100 members of the 11-year-old chapter, structured into teams of nine, with participation overseen by three commissioners under defined rules and regulations. During the league, members of BNI Prometheus engaged in activities such as giving references, introducing fellow members to professionals from various sectors, including medicine, architecture and industry, and inducting new members into the chapter. The event recorded 107 'power dates', structured business meetings between members, and facilitated business deals worth over Rs. 15 crore. Five new members were also inducted into the chapter during the league. The top three teams in the league received cash prizes for their performances. BNI Prometheus President, Kushal Dham, said, "The Prometheus Business League is a unique platform where members come together to collaborate, create opportunities, and strengthen bonds. This year, while we played the game and achieved significant business, we also deepened our connections, which is the true strength of our chapter. We are committed to the individual and collective growth of our members and the chapter." The closing ceremony featured a stand-up comedy show by Kamlesh Darji and the distribution of prizes and awards to the winners. It concluded with a grand dinner for all members of BNI Prometheus. The Prometheus Business League is a structured programme aimed at promoting personal and collective growth through active engagement, networking and collaboration. Now in its fourth edition, it continues to contribute to the chapter's focus on building strong, long-term business relationships.
New Indian Express
29 minutes ago
- New Indian Express
US tariff threat may nudge fiscal deficit up to 4.5% this year
MUMBAI: The rising external risks, especially in the form of punitive tariffs imposed by US President Donald Trump's administration, may see the country missing the 4.4% fiscal deficit target for this fiscal by a notch to 4.5%, a significant improvement from the past year's 5.1%, a foreign agency has said in a report. "India's fiscal position is improving considerably, with the central government deficit narrowing from 5.1% to 4.5% of GDP in FY26, though marginally missing the 4.4% target, as economic growth underperforms official projections by about 3%," BMI, a Fitch group company, said in a report. On the other hand, the general government deficit, including that of the states, will also improve slightly from 8.2% to 8% this fiscal. This is because the states may increase spending due to rising political competition, partially offsetting the Centre's consolidation efforts. This overall improvement is in spite of the fact that this year's budget has signalled a tactical shift from investment towards supporting middle-income voters, but without losing sight of the need for fiscal consolidation. On the revenue front, the government has strengthened collection considerably, with central revenue now exceeding 10% of GDP — levels not seen since FY11. Despite the substantial income tax threshold increase from Rs 7 lakh to Rs 12 lakh from this fiscal, costing around Rs 1 trillion or 0.3% of GDP, overall revenue performance should remain robust as, to compensate for tax cuts, the government has implemented two key measures. First, it is reducing capital spending from 3.5% to 3.2% of GDP — the first reduction after seven consecutive years of increases. Second, it plans to increase dividend payments from the Reserve Bank and state-owned banks by 9%, though this contributes less than 0.1% of GDP. The narrowing fiscal deficit should gradually improve the debt position over the coming decade. The government's commitment to fiscal consolidation, even amid economic headwinds and electoral pressures, indicates a clear prioritisation of debt sustainability, the report said. However, the report lists some risks to this fiscal improvement trajectory, the main being aggressive US tariff hikes. Such a scenario would compromise growth, curtail revenue collection and likely necessitate increased counter-cyclical spending, potentially derailing the fiscal consolidation agenda. "However, barring this scenario, we expect the government to maintain its fiscal improvement course through FY26," the report said.
