Latest news with #Selvaraju
The Hindu
19-07-2025
- Business
- The Hindu
Textile industry seeks uniform GST rate
The textile industry is pitching for a fibre-neutral GST at 5% for the entire textile and apparel value chain. Currently, cotton-based textile sector has 5% GST, except for garments priced above ₹1,000. These garments attract 12% duty. However, in the Man Made Fibre (MMF) sector, the GST on PTA (Purified Terephthalic Acid) and MEG (Monoethylene Glycol) that are critical raw materials for polyester production is 18%, MMF filament and spun yarn attract 12% duty, fabric and garments are at5 %, and garments and fabric priced above Rs. 1,000 a piece are at 12%. There should be no inverted duty structure and there should be a fibre-neutral rate which is the lowest in the GST slabs, said RK Vij, secretary general of Polyester Textiles Apparel Industry Association. If the industry should achieve the target of $100 billion annual exports and $250 billion domestic sales by 2030, all sectors of the textile industry should grow. For now, there is no major expansion in the pipeline for three years in the viscose sector and the cotton sector is not growing. The growth of the MMF sector is crucial and hence, the government should rationalise the GST rates for this sector, right from the raw material stage, he said. According to K. Selvaraju, secretary general of the Southern India Mills Association, garments and fabric priced above ₹2,000 should be levied 12% duty and for the other products across the textile value chain, be it cotton, viscose, or polyester, the rate should be 5%. The micro, small and medium-scale enterprises are struggling when funds are blocked in tax paid for inputs. MMF-based fabric and garment are the most affordable for the common man. And, hence, MMF sector should also be brought under uniform 5% duty. Further, textile and apparel sector is the highest job-generating industry and it should attract investments to create more jobs. Rationalisation of the GST rates will help make investments viable, he said.
Yahoo
27-05-2025
- Business
- Yahoo
H.C. Wainwright Maintains Buy Rating on MoonLake Immunotherapeutics (MLXT), Keeps PT
On May 27, Analyst Ram Selvaraju of H.C. Wainwright reiterated a Buy rating on MoonLake Immunotherapeutics (NASDAQ:MLTX) while keeping the price target unchanged at $100. The reiteration is based on the company's Sonelokimab candidate, which is currently in Phase 3 with topline data release anticipated soon. A close-up of a biopharmaceutical research laboratory, with a microscope in the foreground. Selvaraju highlighted the upcoming release of top-line data from the Phase 3 VELA program for Sonelokimab as a major catalyst for the company. The company reported rapid enrollment in this trial, which was faster than industry norms. The analyst believes the company has a huge market opportunity for Sonelokimab, estimating it could address a $10 billion to $15 billion market. While mentioning the financials, Selvaraju noted MoonLake Immunotherapeutics (NASDAQ:MLTX) had reserves of about $480 million as of early 2025 and also secured a term loan facility of up to $500 million giving runway till 2028 without immediate equity dilution. MoonLake Immunotherapeutics (NASDAQ:MLTX) is a clinical-stage biopharmaceutical company specializing in the development of medicines for immunologic diseases. Sonelokimab is its key candidate for treating diseases caused by immune system dysfunction, such as inflammatory skin diseases and joint diseases. While we acknowledge the potential of MLTX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MLTX and that has 100x upside potential, check out our report about the . READ NEXT: and . Disclosure: None.
Yahoo
27-05-2025
- Business
- Yahoo
H.C. Wainwright Maintains Buy Rating on MoonLake Immunotherapeutics (MLXT), Keeps PT
On May 27, Analyst Ram Selvaraju of H.C. Wainwright reiterated a Buy rating on MoonLake Immunotherapeutics (NASDAQ:MLTX) while keeping the price target unchanged at $100. The reiteration is based on the company's Sonelokimab candidate, which is currently in Phase 3 with topline data release anticipated soon. A close-up of a biopharmaceutical research laboratory, with a microscope in the foreground. Selvaraju highlighted the upcoming release of top-line data from the Phase 3 VELA program for Sonelokimab as a major catalyst for the company. The company reported rapid enrollment in this trial, which was faster than industry norms. The analyst believes the company has a huge market opportunity for Sonelokimab, estimating it could address a $10 billion to $15 billion market. While mentioning the financials, Selvaraju noted MoonLake Immunotherapeutics (NASDAQ:MLTX) had reserves of about $480 million as of early 2025 and also secured a term loan facility of up to $500 million giving runway till 2028 without immediate equity dilution. MoonLake Immunotherapeutics (NASDAQ:MLTX) is a clinical-stage biopharmaceutical company specializing in the development of medicines for immunologic diseases. Sonelokimab is its key candidate for treating diseases caused by immune system dysfunction, such as inflammatory skin diseases and joint diseases. While we acknowledge the potential of MLTX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MLTX and that has 100x upside potential, check out our report about the . READ NEXT: and . Disclosure: None.
