Gateway to NDMC area: ₹1.8 crore clock tower likely to be ready in 6 months
Global Ports and Shipping Summit 2025 The Third Edition of the 'Global Ports and Shipping Summit,' organized by ET Infra in September 2025 in Mumbai, will bring together policymakers, industry leaders, and experts to explore investment opportunities, discuss emerging trends, and shape th
ETInfra Leadership Summit 2025 India's infrastructure transformation has entered a decisive phase. With a record ?11.11 lakh crore capital outlay in FY 2024–25—holding at 3.4% of GDP—and over ?2.14 lakh crore already deployed by December 2024, the message is clear: delivery is non
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Economic Times
24 minutes ago
- Economic Times
Cisco projects upbeat quarterly revenue as AI fuels networking equipment demand
Reuters Cisco Systems forecast first-quarter revenue above Wall Street estimates on Wednesday, as the artificial intelligence boom boosted demand for its networking equipment from cloud customers. Hyperscale cloud investments are healthy and driving IT infrastructure financing, which sets up a good backdrop for Cisco. "Within the enterprise spending environment, there is incremental spending to beef up the infrastructure to accommodate AI, so that could potentially be another growth driver, especially with Cisco having such a big presence in the traditional enterprise market," Edward Jones analyst David Heger said. Big tech firms such as Microsoft, Amazon and Alphabet are ramping up spending to ease capacity shortages that have limited their ability to meet AI demand, even after several quarters of multi-billion-dollar outlays. Cisco's AI infrastructure orders exceeded $800 million in the fourth quarter, bringing the total for fiscal 2025 to over $2 billion, more than double its original target, CEO Chuck Robbins said on a post-earnings call. The company has not seen any pull-forward in demand for products, but did note a small impact from tariffs in the quarter and during the fiscal year, he added. "We expect the sovereign AI opportunity to build momentum in the second half of fiscal 2026. Cisco will be a core system provider for these significant AI training and inference cluster build outs and integral to their development and eventual hyperscaling." Cisco has partnered with Humain, Saudi Arabia's state-backed AI company, and it will provide digital solutions for Bahrain's government information and telecommunications infrastructure. The company expects revenue to be between $14.65 billion and $14.85 billion for the first quarter, compared with analysts' average estimate of $14.62 billion, according to data compiled by LSEG. Its revenue for the fourth quarter ended July 26 came in at $14.67 billion, compared with estimates of $14.62 billion. Networking product orders grew in the double digits during the quarter, driven by webscale infrastructure, switching, enterprise routing, industrial IoT and servers. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Tariffs, tantrums, and tech: How Trump's trade drama is keeping Indian IT on tenterhooks Good, bad, ugly: How will higher ethanol in petrol play out for you? As big fat Indian wedding slims to budget, Manyavar loses lustre As 50% US tariff looms, 6 key steps that can safeguard Indian economy Stock Radar: JSPL forms Ascending Triangle pattern on weekly charts, could hit fresh 52-week high soon Nifty and business are different species: 5 small-cap stocks from different sectors with upside potential of up to 30% F&O Radar | Deploy Bear Put Spread in Nifty to play index's negative stance amid volatility Wealth creation: Look beyond the obvious in some things; 10 fertilizer sector companies worth watching
Mint
26 minutes ago
- Mint
BSE SME stock Nisus Finance jumps after Q1 results 2025. Check details
Shares of BSE SME-listed Nisus Finance Services Co. Ltd (NiFCO) gained nearly 2 percent on Thursday, August 14, hitting an intraday high of ₹ 384 after the company reported strong financial results for the quarter ended June 2025 (Q1FY26). The performance reflected sharp year-on-year growth across revenue, profit, and margins, reinforcing investor confidence in the company's strategic direction. The stock has risen 8 percent so far in August after an almost 27 percent rise in July. Before that, it was in the red for 5 straight months between February and June. It shed 14.5 percent in June, 5.75 percent in May, 3.11 percent in April, 14 percent in March, and 11.6 percent in February. Meanwhile, in January, it was flat, up 0.6 percent. In Q1FY26, Nisus Finance posted a net profit of ₹ 16.85 crore, up 103.55 percent year-on-year, while total income surged 91.49 percent to ₹ 28.72 crore. EBITDA rose 83.19 percent to ₹ 21.69 crore, with the net profit margin improving by 348 basis points to 58.68 percent. The company attributed this growth to higher business volumes across both India and UAE markets, coupled with efficient cost management. During the quarter, NiFCO strengthened its first-mover advantage as India's first listed AIF manager, enhancing governance standards and market access. The RESO-1 fund continued to focus on special situations in the real estate sector, particularly complex self-redevelopment projects delivering 21 percent returns. Leveraging its GIFT City structure—among the first licensed for Overseas Portfolio Investment—the company offered Indian investors compliant access to global opportunities. Additionally, its Dubai entity remains the only Indian-promoted fund to secure global lender leverage. NiFCO also advanced its asset tokenization initiatives through a partnership with Toyow, opening up new liquidity channels and expanding institutional investment reach. The company deployed ₹ 24 crore towards fund setup and fundraising expenses, to be amortized over the fund's life. Increased UAE income also lowered the effective tax rate, boosting PAT margin to 59 percent. Amit Goenka, Chairman & Managing Director, said this was the company's strongest first quarter ever, with revenue and profitability seeing substantial year-on-year gains. He highlighted balanced growth between fund management and advisory businesses, alongside strategic investments in urban redevelopment, plans to acquire a leading construction platform, and global partnerships in asset tokenization. 'This has been our strongest first quarter ever, with revenue growing over 91 percent year on year and profitability more than doubling. We have seen strong momentum in both India and the UAE with a good balance between our fund management and advisory businesses. Our operating costs have stayed in line with our expansion plans, which has allowed us to scale efficiently,' Goenka said. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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Business Standard
26 minutes ago
- Business Standard
H-1B shocker: 1 in 6 Indians face early US deportation risk, survey finds
One in six Indian professionals on H-1B visas, or someone they know, has been served a deportation notice to appear (NTA) within the 60-day grace period after losing their job, according to a poll on Blind, the anonymous app for verified professionals. Many risk a permanent ban from the US if they fail to leave quickly. Normally, laid-off H-1B workers are given 60 days to find a new employer or change visa status. But since mid-2025, reports have grown of NTAs arriving well before the deadline—sometimes in just two weeks—branding workers 'out of status'. 'Multiple cases where NTAs were sent in 2 weeks,' a Meta user wrote on Blind. 'Immigration lawyers now advise leaving as soon as possible after the job ends, otherwise you risk a permanent ban from the US.' Return or relocate? In a separate Blind survey, 45 per cent of Indian professionals on US work visas said they would return to India if forced to leave. A further 26 per cent would relocate elsewhere, while 29 per cent were undecided. Factors discouraging a move included steep pay cuts (25 per cent), lower quality of life (24 per cent), cultural or family adjustment challenges (13 per cent) and fewer job opportunities (10 per cent). When asked if they would choose a US work visa again, only 35 per cent said yes. The rest were either unsure or against it, signalling a shift in how Indian professionals see the long-term value of US immigration. Thirty-five per cent said they, or someone close to them, had to leave the US after a job loss, often facing deportation risks during the grace period. Fewer visas, longer waits USCIS data shows about 191,000 Indians received H-1B visas in FY 2023, rising to around 207,000 in FY 2024. Yet more than one million remain stuck in the employment-based green card backlog due to country caps and annual limits. For FY 2026, USCIS selected 120,141 H-1B registrations—a sharp drop from recent years and the lowest since 2021. Analysts link this to tighter checks on multiple registrations and higher fees. Trump's comments stir reaction Donald Trump's call for American companies to 'stop hiring in India' has split opinion. In the Blind poll, 63 per cent of US-based professionals said it could help their firms, while 69 per cent of India-based respondents saw it as harmful. The platform surveyed 2,089 verified Indian professionals in the US on work visas, including H-1B and L-1, between July 28 and August 8. What's supposed to happen after job loss? H-1B visa holders have 60 days to: • Find a new employer and transfer their visa • Switch to another status, such as a B-2 visitor visa • Leave the US voluntarily within the grace period During this time, they are legally present and not 'out of status'. What's happening now? Some are getting NTAs before the 60 days end. An NTA formally begins deportation proceedings in immigration court, listing allegations and charges under section 240 of the Immigration and Nationality Act. The practice contradicts USCIS guidance and creates uncertainty for workers and employers. It follows a February 28, 2025 USCIS memo expanding situations that can trigger an NTA. USCIS, ICE and CBP can all issue these notices. 1. Sharp decline in registrations: For FY 2026, H-1B registrations dropped to about 358,000, down 26.9 per cent from FY 2025 and more than 54 per cent from FY 2024. Fraud-prevention rules, a beneficiary-centric process, and a fee rise from $10 to $215 contributed. 2. Move towards wage-based selection: The Office of Information and Regulatory Affairs has cleared a proposal to replace the H-1B lottery with a wage-based system, prioritising higher-paid roles. It awaits public release. 3. Mandatory in-person interviews: From September 2, 2025, most non-immigrant visa renewals, including H-1Bs, will require in-person interviews. The Dropbox document-only process will end, adding cost and delays. 4. Child Status Protection Act changes: USCIS has altered how a child's age is calculated under the CSPA. Some nearing 21 may lose eligibility for green card processing, worrying families stuck in backlogs—especially from India.
