Friday, September 25
Foxconn recalling over 300 Chinese engineers, reportedly at the behest of Beijing, from its Indian iPhone manufacturing plants could impact operations in the short term and have a ripple effect on the ecosystem at large, several executives from Indian electronics manufacturing services (EMS) companies told ET.Executives ET spoke to said that while Chinese engineers can possibly be replaced by Taiwanese professionals, for instance, the bigger concern was about machinery. If China puts curbs on that, it will be difficult for some of these firms to sustain their operations as even maintenance work requires Chinese technicians."Capital machinery roadblock will hurt some manufacturers more than engineers being called back, which is anyway a routine cyclic reposting of expats after a certain per
Driven by a “higher-for-longer” upcycle in the luxury hospitality segment, global brokerage firm Morgan Stanley initiated coverage on Schloss Bangalore, the company that owns and operates luxury hotels under the ‘The Leela’ brand, with an ‘Overweight’ rating and a target price of Rs 549.The target implies an upside potential of 35% from the stock’s closing price on Monday.Following this, the shares of the company rose 5% to hit an intraday high of Rs 427.20 on the BSE.Morgan Stanley’s positive view is underpinned by a “higher-for-longer” upcycle in the luxury hospitality segment, strong demand for premium travel experiences, and the company’s attractive valuation.The brokerage also cited Schloss Bangalore’s low net debt position and steady execution as key drivers f
With US President Donald Trump imposing fresh tariffs, Gold August futures contracts at MCX opened slightly lower by Rs 151 or 0.16% at Rs 97,119/10 grams after settling positively in the previous trading session. Meanwhile, silver July futures contracts opened slightly higher by Rs 109 or 0.1% at Rs 1,08,430/kg.On Monday, gold and silver settled on a slightly weaker note in the international market while settling on a mixed note in the domestic market. Gold August futures contract settled at Rs 97,270 per 10 grams with a gain of 0.29% while silver September futures contract settled at Rs 1,08,321 per kilogram with a loss of 0.10%.Gold and silver started the week on a weaker note amid improved risk appetite after upbeat U.S. job data released last week and Israel-Hamas ceasefire talks. The
